A
COMPANY MEETING. MINERAL WEALTH
A. S. WATSON'S REPORT SUCCESSFUL YEAR,
_DIVIDEND_OF_75_CENTS PËR
SHARE.
باشد
OF HAINAN.
COAL MINING PROJECT.
[FROM OUR OWN CORRESPONDENT.]
HONG KONG DAILY PRESS, TUESDAY, MARCH 17, 1931.
CANTON PROPERTY
SALE.
FRENCH MISSION-BUILDINGS. AT AUCTION.
[FROM OUR OWN CORRESPONDENT.].
Honiow, March 14. Hainan Island has-been-known
CANTON, Mar. 16. Mr. Horry Humphreys presided for many years to contain rich The Canton Municipal Govern the 40th annual general meeting mineral deposits although little has ment starts selling to-day at 11pm. of slidreholders of Masars. A. 5. been done in the past to develop in the City Hall by auction the 89 Watson & Coly Ltd., which was held them. A mining company has re-steel-concrete buildings on Yatack as the Hong Kong Hotel yesterday.cently been, organized in Canton Road, Snered Heart Rond, and Supporting him wore the Hon. Sir with a capitalization of $100,000 nearby recently returned to the Shou Son Chow, Mr. J. Scott Prospectors representing this com Chinese Government by the French Hurston, Mr. A. B... Stewart, Mr.pany headed by Mr. Lam Kung Mission under Bishop Fourquet in A. H. White (Directors) and Mr. Man arrived at Hoihow several Canton. J. A. Tarrant, Secretary. Share weeks ago with men anil machinery holders present included Messrs. Wand proceeded immediately to the 5. Bailey, F. W. Stapleton, J. D. Humphroys, G. E. R. Divett, W. Morley, D. E. Clark, J. M, Alves, VL, dos Remedios, J. M. Wong, and Peter Wong,
In rising to propose the adoption of the report and accounts, the Chairman said: ---
"
region cast of the Kau Tsau crater thirty-five miles south of Hoihow. In this region there is an outcrop ing of sub-bituminous or ignite
coal.
Temporary shacks are being con- structed and it is proposed to put 'down several shafta over an exten-
It will be remembered the Can- ton Government paid the French Mission $550,000, being the cost for the building materials. This was just about one-half of the amount demanded by Bishop Fourquet, who gave evidence that over $1,000,000 were expended on the buildings.
The sale is being carried out on a strictly competitive basis, the property going to the highest bid. der. Each bidder, in order to be quafified, must first deposit $500 with the Government, the whole of which will be returned to him the next day if his bidding does not measure up to that of the others. If his bidding is the highest of all, the money will be deducted from the purchasing price. There must be at least three bidders for each lot.
The accounts show an increased sive area to determine the length proht of 830,071.65 over last year, and depth of the scam. It will be which may be regarded as satisfac-recalled that two years ago, Dr. tory in view of the unsettled con- Arnold Heim, the noted Swiss ditions that have existed daring the geologist and professor at Tang whole of the period under review. Shan University, visited Hainn Liabilities; under the headings to make a geological survey on it Hong Kong and Shanghai Bank, is thought that the present under Liabilities in London, and Bills taking is made on the basis of his Payable. The first shows an in-report. ercase attributable generally to low -exchange. Liabilities in London at date are £1,402 more than the pre.
If these buildings are all sold, vions your, which, with the depre-
In 1020 Hoihow had over forty even at the upset prices, the Can- ciated exchange, decounts for the inbour guilds. At that time the ton Government will receive well increase of $30,130; whilst Bills
control fell into the hands of Com-over a million dollars, thus showing Payable outstanding at the end of
munist agitators. The following a clear net profit of more than 100 the year are £19,230, us against £11,620 last year, a difference ofur, during the clean-up campaign per cent, on the deal.
-only £030, but showing an increase
in dollar value of 876,571.55.
Stocks in trade and Sunday
Debtors show increases of 8183,091.47 and 837,303.73 respectively, both being due to lower exchange.
With regard to the water pipe
hne from Rennies Dum to the beach
at Junk Bay, to which I referred
my speech last year, it is pro- mosed to write this down in book value from 80,000 to $1,000, virtual
ly its norap value.
Section A. of Marine Lot 381 was sold on February 28 last, and there. fore will not again appear in the accounts. A small profit was made on the sale,
We are recommending 5 cents per share more dividend this year than fast, and in view of the very un- settled conditions which are still prevailing, wo do ust feel justified in recommending a larger payment. We trust the transfer to Chinese Staff Superannuation Fund of $1,000 will moet with your approval
I now propose the adoption of the report and statement of accounts as presented, and the allocation of the profits as recommended, name- ly:-
LABOUR GUILDS
REORGANIZED.
PROPERTY MORTGAGED TO BANK.
when Communists were being caught on all sides, these organizations! sulted in their being automatically were thoroughly combed, which re-
dissolved, Lately these have grad- ually been reorganized under the LEGAL ARGUMENTS IN THE
SUPREME COURT.. On the 4th of this month, two ad- leadership of the local Tang Bu.
ditional guilds were organized in
|
THE YANGTSZE SHIPPING DISASTER.
HUNDREDS DEAD IN TRAGIC STEAMER EXPLOSION.
HEROIC WORK SAVES 121 FROM BLAZING WRECK OF RIVER STEAMER.
"Bwspt by a thest of Unne Tiom a tremendous explosion, the str. To Chi lash Wednesday evening became a raging, inferno on the Yangtze river. Many of those on board must have perish- ed instantly and many others have been drowned subsequently. The loss of life is estimated at 300,
The whole affair was witnessed from the Customs Revenue Cruiser Chiuentino (Capt. A, F. Horden), whose officers and crow worked strenuously for three hours in picking up those who had jumped overboard to escape the flames. At 1 p.m. the next day - the Chuentino arrived in Shanghai with 123 survivors and soven corpsen, Two other survivors were transferred to another ship of the same line which was met with a shore time afterwards.
Officers of the rovónus cruiser prain the work of the Ta Chi's officers, who could not have done any more than they did. With fire breaking out beneath the bridge, they put the ship ashore," and caused an anchor to be dropped. Neither. Captain Chief Officer hero been seen or heard of since the affair, and they are believed to have perished in the flames.
REVENUE CRUISER TO RESCUE.
"If I had not seen the whole air with my own eyes I would not have believed it."
This statement by an officer of the revenue cruiser to a NC; Daily New representative adequately sums up the terrible accident to the steamer. The cause of the ex- plosion remains a mystery,
Tho. Chuenting last Tuesday was
nor
can talk about the Oxford and. Cambridge boat-race, but I think my boat's crew would shine in any company. They pulled a long stroke as hard as they could for the" whole distance: oven then it took us 20 minutes to reach the Tachi.”
The cruiser's pinnace towed one of the gigs to the Tachi, and an
**They stoked her up till she rat- thed, and she threw up a bow wave liki a destroyer. She got us there
at anchor three miles from Big | officer said that he had never spen Troo Beacon Light, which is some the pinitaco move so fast. 80-miles up the Yangtze from Woo- sung, and was engaged in carry ing out a survey. Shortly before dunk the Tachi came into sight, | quick, and that was what mattered. and it was noticed that something Every second gained might have was amiss, ns a grey smoke was meant another lifs Bavod." coming from the vessel, apparent. In the meantime, when the Ox- ly from the funnel, "just like a plosion occurred, those left on wartime smoke-screen" as an other board the cruiser got the ship go- officer of the cruiser remarked. The ing. There was originally no m Chuonto's gig was a short distention of moving the Chuentino,
Been Legal arguments were continued tance, away, its crew engaged in but when it was the Assembly Hall of the Tang By At the Supreme Court yesterday reading a tido-pole, while the the boat crews had more than
nfternoon in the cazo in which Mrs. Headquarters Over two hundred Chu Shuk is suing the Banque pinnace was also fortunately in just an ordinary fire to combat were present and representatives Franco-Chinoise for $42,000 dan the water, alongside a beacon which there was no hesitation in moving from other guilds made congratuses. Plaintiff alleges that the dewas being worked upon. Both down stream.
fendants wrongfully sold, at these vessels were immediately or Intory speeches.
gross undervaluation, the property known na 6, Ko Shing Street, dered away to close on the Tachi, which she mortgaged to them to while two other gig's orowa were provide Messrs. Pittendrigh & C ordered away on the same errand. fluchi as wits anfe, and the boats, with an overdraft on their bank-
Three or four minutes after they soon as each was full of sur- ing account.
Tachi was first soon, an explosion vivors, brought them to the cruiser. ocurred on board the vessel, ap. and then started off again. Each
boat made several such trips.
MAYOR'S OFFICE CLOSED. The Provincial Government has recently decided to do away with mayors offices in Kongmoon, Mui luk, and Heihow, on the grounds that the populations of these places are not sufficiently large to warrant the extra expense of such govern mental inchinery,
Mr. Jenkin, for the defendants, doaling in detail with the points
in his statement of defence, sub-parently amidships or just forward mitted that the demand for money made in writing on Mr. Pittendrigh of this position. The results were was binding on both him and the most remarkable, a sheet of flame plaintiff. As regards the notier of caveloping the ship from the fun Bale, it was sufficient to give notice to either Mr. Pittendrigh or the net to the bow. mortgagor.
In 1920 the leper village at the
In the opinion of officers of the west gate was razed and a com- modious Guilding was erected on the He continued that if the mort-revenue cruiser, all those on the spot for the inayor's headquarters gagor. did not pay within a reason part of the ship forward of the Now that the office has been disable time then she had committed funnel most have perished almost solved it is probable that the built-in bronch of Covenant No. in the ing will be occupied by the Khong mortgage deed. All that the mort Shan District Magistrate and his gagor was entitled to was a de-
odice staff.
FINE REDUCED.
To pay a dividend of 75 cents per share which will absorb...
890,000.00
9,102.03
5,000.00
LAWYER'S SUCCESSFUL
APPLICATION.
Write off building im
provements... Write off pips fine and
dam at Junk Bay...... Transfer to Chinese Staff Superannuation Fund And carry forward to
next nocount
5,000.00 50,133.13
mand for payment within a reason- able time limit, and she was en- titled to notice of sale only in certain events:
Following an observation by his Lordship, counsel agreed that if his elients had called for a valuation before the sale of the property; it could be shown that they were care- ful.
I
instantly. The cruiser affleurs pay a tribute to the commander GE the Tachi, who with very little time to do anything and the beginnings of a raging inferno beneath his feet, put the vessel ashore and manged to get an anchor droped.
that
"A Damnable Job."
The cruiser moved ne close to the
"It was simply damnable" a re- venus cruiser officer stated, "When
we arrived me were torn between
our desire to save those on the ship from the fames and our desire to save those in the water from drown- ing. And in saving those from the water, hundling them into the bests as fast as we could, we had to love others ws could see for some time while we transferred our loads of survivors to the cruiser, and then hope that we would not be too late to pick the remainder up. Many a person we saved, too weak and frightened out of his wits to try. to swim, after he had thrown up hir arms, gone under the water and just come to the surface again."
Fortunately the thick Chinese clothing worn by those from the
Lucky Change of Wind. Then the Tachi, swung round to Mr. F. C. E. Rondall made a
The wording of the mortgage the tide. At the same time the successful application before Mr. deod was commented upon by Mr. E. H. Williams yesterday on behalf Potter in his arguments on behalf wind felt, and a few seconds inter of a Chinese woman, who had been of the plaintiff's case Counsel went sprang up again from a totally recently convicted on a charge of on to show that the deed was a different quarter, blowing upon possession of 3,700 po pui tickets. local document, which was hopeless When this has been soconded, 1 The woman had been fined 81,000 ur in its wording, and that it had the the stern of the thip. This cher Tuchi anflood to keep them allost shall be pleased to answer any ques six months' hard labour in default, fantastic result of making the ed the spread of the fame to bedding which many throw into the tions in respect of the accounts but after hearing Mr. Rendall, the plaintiff Jose her property without
Magistrate reduced the penalty to notice. which shareholders may have to 8730 or four months' hard labour nek.
in default.
animously.
Odcors Elected.
In his address to the Bench, Mr. Rendall pointed out the improb- ability of the woman being any more than a carrier, and added that whatever anybody else stood to gain by it, it was certain that the defendant was not going to profit largely-in fact, she had already told the Court that she was promis ed 81'for carrying the tickets.
Mr. Rendall went on to say that
An adjournment was made. until this morning, when it is expected, the onse will be concluded.
MUI TSAI EVIL.
CHINESE WOMAN - FINED FIFTY DOLLARS.
for some time, while tho Chinese
spra,, and enabled a number of passengers to reach the stern and water served the same purpose, na trom this point jump into the aid some of the luggage. The revenuò cruiser boats worked horo1. river.
Shortly after the first explosion,cally to pick up those in the water however, a second occurred. This before their clothing became wátor: caused the flames to spread a little logged and no longer kept their funther aft, until they reached heads above the water.
fhone who remained within 30 feet of the stern of the uchi were encouraged to jump ship. More and more of the phs into the water, and wore picked up sengers clustered at the stero
on the
Mr. W. S. Bailey, seconding the notion, said that he wished to con gratulate the management on the very efficient way in which they raa the business during the past year,
jumpet overboard and drified boats which manoeuvred 'just It was indeed a very excellent year,
down on the tide, some with leastern of the vessel. It was not telte on some clinging to their considered feasible to go right, up and he had much pleasure in second-
to the stern of the Tachi, as the ing the adoption of the report and at the present time there was a There is no point in taking the Ledding and luggage to keep them panicstricken group on the stern accounts. This was carried un-great deal of interest in gambling girl away. She is quite happy with alot, and some perfore, riying might have all jumped into the
solely on their quilted, clothing.”
bonts at the same time and swamp. and there had been several pro the family and there is little pro--
When the boats from the revenue ed them. secutions, but, be argued, he could bubility of the father coming back,'
For three hours the boats work not see much difference between the said Mr. MacFayden of the Secroniser arrived, honds ware boh- Jockey Club's swoopstakes and one tariat for Chinese Affairs at the bing up and down on the river ed, first picking up those in the for over a quarter of a mile as water and then collecting some who of the po pui lotteries, excepting conclusion of a mui trai caso in
tern of the doomed ship. Work had been picked up by sampans perhapa that one was conducted which a Chinese woman was sum.
moned for adopting a girl. "Of ing by flashlaraps and the glare of which made their appearance, Three under proper supervision.
The woman's offence, said Mr. course she is not to be a mui tsai the burning vessel, but guided survivors had been hauled aboard Rendall, was not a very serious one, and must be kept as an adopted chiefly by the wails and cries of the light-ship, where they wore and a fine of $1,000 to a woman daughter, and must be brought to those in the water, the bosta from giver fresh clothing and placed by of her means simply meant that she the authorities periodically for ex- the cruiser commenced their rescue the three light-keepers in their own bunks. They were not at all will- would have to languish in jail for amination," added Mr. MacHayden. six months.
ing to move out, they could not very well be left on the light-vessel, whose-quarters were not built for six tenants. Sixty other survivori were picked up by another ship which arrived on the scene some time after the explosions
On the proposal of the Chairman, seconded by Mr. J. M. Alves, the Hon. Sir Show Son Obow, Mesars J. Scott Harston, A. H. White, and A. B. Stowart wore re-elected dires tors for the ensuing year.
Afossra. C. Bernard Brown, A.CA, and D. T. Butlin, A.0.A.,
The case was one in which a were re-elected auditors with the in-
In making the reduction stated Chinose woman was summoned for oreased remuneration of 81,250 each above, bis Worship said that the adopting the mui tani." She had on the proposal of Mr. F. W.quantity of tickets carried by the plained to the Court that the Woman was unusually largo, pre-girl's father bad gone to Singapore Stapleton, seconded by Mr. J.-D.vious offenders carrying no more and had left her with the girl...
-A÷fine-of: 850+ was imposed....
Humphreys,
than 1,000 tiukata-or; 20:2
work
· Fine Work by Boat Crows. Officers of the revenus eruizor stated that their boats' crews car ried out splendid work.
Luckily they are trained to bont-work, said one officer. "You
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