434
THE LONDON AND CHINA TELEGRAPH.
[Aue. 13, 1867.
Mr. Edward Holdsworth contain, in addition to pro forma | from 13 to 20 millions. This, however, was firmly denied by the Minis terial paper, which ascertained that the militia will only be increased with a few thousand men. invoices and account sales of silk shipped to Loudon, the cost per lb. of China raw and waste silk laid down in London at 58. 6d. to 73. 5d. per tael exchange for raw, and 5s, to 7s. 6d. for waste. The cost per pioul of raw silk is calculated in these tables at 200 to 800 taels, and of waste at 5 to 64 taels.
Much is said in our papers about the losses involved by the Insurance societies during the last year, so that most of thein are not able to pay a dividend, whilst some have lost a good part of their capital. It is of too much interest that I should not reproduce what is said about it in a small local paper, because it is worthy to be known generally that during the last year the Javasche Zee en Brand Assurantie Maatschappy" lost its We notice that the Teping was the first of the tea clippers reserve fund and 50,000f. of its capital; the "Bataviasche Zee en Brand to pass Anjer. She left Foochow on the 3rd June, and passed Assurantie Maatschappy" lost 50,000f. of its capital of 180,000f; the The Maitland sailed two, and the Serica" Koloniale Zee en Brand Assurantie Maatschappy" lost its reserve of Anjer on the 27th, four days before her.
THE CIVIL SERVICE.-Foreign-office. Mr. H. B. Bristow has been appointed student interpreter in China or Japan. The Queen has been graciously pleased to appoint William Graham Sandford, Esq., now a Third Secretary, to be a Second Secretary in Her Majesty's Diplomatic Service.
Parliamentary Entelligenre.
HOUSE OF LORDS.
POSTAL COMMUNICATIONS.
50,000 and 66,000f, of its capital; the Tweede Koloniale Zea en Brand Assurantie Maatschappy" (established last year) lost 61,000f.; and the "Oosterling" (established last year) 30,760 of its capital. The very unsatisfactory result of the companies who are represented here is due to the fact that they accept too great risks and insure too large sunts upon the several ships.
COMMERCIAL.
COFFEE. The market remains in a very good position, because there was more demand for consumption. For Malang coffee of the last sale of the Dutch Trading Company somewhat higher prices were paid; the Of private imports white yellow, yellow, and brown sorts are very scarce.
800 bags ordinary to good ordinary greenish, some brownish, and 800 bags good ordinary greenish, ex Kandeish, were sold at different prices. lin- ported were 8,144 piculs Java, ex Triton; 1,034 picula, per Eva Jobanna ; and 2,612 piculs, ex Landbouw. 45,814 b., against 27,101 in 1866, and 58,832 in 1865. From January 1 to July 31, 1867, 484,694 b., against 358.397 in 1866, and 470,830 d. in 1865. Stock, 474,660 bags, against 478,586 in 1866, and 482,413 in 1865; floating are for the Dutch Trading Co., 190,000 bags, and for The Trading Company will offer private account, 41,200 b. Total stock in Holland (including all qualities), 525,500 b., against 530,100 in 1866. on the 21st inst. 97,700 b. Java, Padang, and Menado coffee in public auction.
The deliveries in June amounted to
SUGAR (RAW).The 38,924 baskets Java which were sold by the Dutch Trading Company on the 24th ultimo realised full May prices for brown and yellow sorts, and f. to under them for white quality. For sult of the sale made a very good impression upon the demand, which has export were taken 5,000 baskets, and the rest by home refiners. The re- been very firm since. Of private imports 8,500 baskets were sold before and after the sale, of which 3.500 per Eva Johanna at full July prices to f. higher. The unsold stock of Java at the Dutch Trading Company was on the 1st inst. 28,825 baskets, against 49,854 in 1866. private hand 50,033 Daskets and 1,730 mats, as well here as in Amster- Yesterday were sold 2,221 baskets Java at 293f. No. 11, damp and very damp, ex Triton.
dam.
Stock in first
(Aug. 9th.) The Duke of MONTROSE: I beg to lay upon the table a postal convention between this country and the United States, under which the postage between the two countries would be reduced from one shilling to sixpenre. We hope that, in addition to this reduction, we shall have a more frequent communication with America; and I have little doubt that in a short time we shall arrive at what, perhaps, we never could be- fore have expected-a daily communication with the United States. By means of this convention we shall also be able to reduce very considerably the postage to Canada. The letters to Canada passing through the United States will be reduced from one shilling to eightpence. We shall also have an opportunity of facilitating the communication with the new colony of British Columbia. We shall be enabled to send letters there in a much shorter time than by the present route by the Isthmus of Panama, and at a very much reduced cost. I think your lordships will consider that these arrangements will he satisfactory to the country at large. I must say that the United States Government have acted with the greatest cordiality and with the greatest auxiety to facilitate all these communi- cations. (Hear.) I am anxious to take this opportunity of making some remarks on the subject of our postal arrangements with India and China. After long consideration of the subject, a committee of your lordships' House recommended the Government to give notice for the termination of the existing contracts for the purpose of having fresh tenders and a more frequent communication with India. It was proposed that we should have a weekly mail to Bombay, and that a mail should proceed by railway from Bombay to Calcutta and Madras. We have followed out the recom- mendations of the committee. We have given notice to terminate the existing contracts, and advertised for tenders for future contracts to run mails from Marseilles to Alexandria, and from Alexandria to Bombay, China, and Australia. But a very curious idea has got into the public mind on the subject, and it has been alluded to in the other House of Parliament, and in many of the newspapers-namely, that in following out the recommendations of the committee we intended to give up the control of the postal communication with India, and to throw it entirely into the bands of foreign Governments. This is most entirely and gra- Such an idea never entered into my mind, or into that of any other member of the Government; and the only ground for it could be that in giving notice for tenders we did not put into them that we would not contract with any foreign Government. From that people have taken the idea that we were to contract with the Messageries. Il and A Blitar; 225 b. do, do. Kedirie; 500 b. Kotta; 441 b. P and A; Imperiales, and give up the control of the communication by nur
214 b. G B; 290 b. A S Malang; 95 b. K P: 75 b. Tanak Nanjic; In the committee of the House of Commons it
For the Java Malang the prices were low, because the own vessels.
219 b. P and A.
Stock in first hand 5,179 b., and at Am- quality was very inferior; for the Djarit there was a good derband, and the prices paid very high, sterdam 7,022 b. The Rotterdam Stock will be offered for sale in this
tuitously a mistake.
was suggested that we should avail ourselves of the Messageries Imperiales in several cases, and even that we should throw it into their bands if they offered a cheaper service than our own countrymen. That is wrong, but I do not say that we shall not under some circumstances avail ourselves of that company, and at present we send some letters on their way to China by their boats, But these are only supplementary arrangements asso- ciated with the boats under our own control. To throw everything into the hands of any foreign country would be extremely impolitic, even st. though in the first instance it might enable us to perform the service cheaper. As I have said, there has been an entire mistake, and the sup posed arrangement, which, as I have said, was never entertained, was sug- gested by the very persons who now find fault with it. They said we should not keep up the contract with the Peninsular and Oriental Company, and that we should give them notice and throw it open; but now they find fault with the Government for doing what they recommended, saying that the Peninsular and Oriental Company have some very fine ships, and have done the work satisfactorily. I would not have troubled your lordships with this statement if there had not been such an entire misconception on the subject, of which it was desirable that the public should be disabused,
Continental Entelligence.
HOLLAND.
(FROM OUR OWN CORRESPONDENT.)
About the new Minister of the Colonial Department a deep silence pre- vails now in the presa, only the Arnheinsche Courant said that Mr. Hassel- man accepted the portfolio with the condition that again an Jadian ground-rent Bill should be brought in Parliament, whilst in this Bill should be stipulated that the right of possession should be granted to the You will remember that the Second Chamber amended in this natives.
The assertion may sense the last Bill, which led to a Ministerial crisis. more or less be true, but I cannot warrant it. The same paper also told that the Minister of the War Department has the intention to augment the militia with 25,000 soldiers, so that the budget of war will be brought
TEA-The market is unaltered; the quotation is for China Congou, Sle, to 175c,; and for Java do., 65c. to 75., according to the quality.
RICE. The market is very firm; of uncleaned, 1,896 b. Sourabaya, ex Maassluis were sold at Amsterdam at a little above 8., and here, 2,500 Im- b. Rangoon Roating, per d'Elmina, at 7, and 1,000 b. at 7§f ported were 10,200 b. Rangoon per New Brunswick, and 9,800 Basscin per John Allen, 3,000 piculs per Landbouw, and 1,000 b. do, per Eva
Johanna.
SPICES.-Firm; Nutmega No. 1, 96c.; No. 2, 86c. to 87c.; Mace D, 108c. ; Cloves No. 2, 29c.; Jara Cinnamon No. 3, 136c., but cannot be bought now under 140c.; the stock is very insignificant; of Pepper 745 b. Sumatra ex Aletta Augusta were sold at different prices. On the 28th Inst. the Dutch Trading Company will offer in sale 550 casks Nutmegs, 500 casks Mace, 195 b. Cinnamon, and 1462 h. Pepper. The deliveries in July were as follows: 84 caska Nutmegs, 28 do. Mace, 10 b. Clores, and 24 b. Cinnamon.
TOBACCO-Of Java the following imports took place: per Surat, 240
month.
INDIGO.For Java there was much demand, some lots good to fine were Bold at higher prices; ordinary quality sells very dificult. The 450 chests im- ported per Kanagawa and Princess Amalia will soon be brought into the
market.
COTTON. With some demand for export; 300 b. were sold at 45c. for middling fair, Dhollerah at 46c. to 47c. for fair, and 49c, for good fair.
MANUFACTURES.-The market ia unaltered, and the quotation is for 6) Madapollans and Calients 5f, to £5.10 each; No 28 Warps, 14jd.; No 14, 13d.; No. 80, Cops, 131.; No. 16 do., 12d.
TixFor Banca the market is quiet; the quotation is 53f, to 521f; Billiton is quoted 100 slabs were sold at 5846; and 800 slabs at 586.
521f.
RATTANS.-153,460 b. at auction by the Dutch Trading Company, on the 1st inst., were sold as follows: —
At Rotterdam:
Banjermassing
Padang
Koetie
f.5. to f.8.60 Banjermassing
6.
to 12.70 Padang
+4
4.50 to
7.20 Koetic
7. to
At Amsterdam:
1.7.50 to f.11.80 11.80 to 14.90
***
8 80 5.50 to 6. to 10.
7.40 Different sorts Different sorts
MISCELLANEOUS.-Of Preserved Ginger 350 chests China will be offered for sale; the valuation is from 85c. to 90c. Camphor, firm, but quiet. Cassia Lignea, quiet. Cassia Vera: With some transactions at 35c. for ordinary quality. Cassia-oil: 44f.
RUSSIA, GERMANY, &c. (FROM OUR OWN CORRESPONDENT.)
HAMBURG, Angust 7. The endeavours of Mr. August Behu to emancipate the German and other Continental shipowners from the thraldom of the French Bureau Veri- tas by the establishment of a "Germanic Lloyd's "of which I gave your readers some account a few months ago-have been crowned with the most
Aug. 18, 1867]
THE LONDON AND CHINA TELEGRAPH.
140
435
signal success, and the full concurrence of the shipowners and underwriters in the afternoon, to receive and consider the reports of Mr. J. Spencer in Bremen and Lubeck, in the Baltic ports and in Denmark, Sweden, Price and the company's agents in the East; also a statement of accounts, and Norway. The Association has declared itself "constituted," and is in full operation. The central seat is Hamburg, with branches at the prin-
and to pass such resolutions with reference to the affairs of the company cipal ports. The following is a list of the directors August Behn,
As such meeting may think fit. J. D. H. ELPHINSTONE,? Shipowner, Hamburg, President: F. H. Bitter, Managing Director of
JAS. B. GIBBONS,
Liquidators. the Hamburg Marine Assurance Company of 1866. Vice-President; A. Beel, Managing Director of the Marine Assurance Company of 1859 at Lubeck; F. Harkort, formerly Caprain in the Army, Knight of the Iron Cross of Bravery, Hornbrack, near Dortmund; Franz Paetow, Shipowner, Rostock; Fr. Schuler, Shipbuilder, Stettin; and R. Werner, Captain
The Pantheon steamer from New Orleans brought 800,000 dollars, some of which have only fetched 4s. 11id. per oz., showing a further decline of 4. very much slackened within the last few days, and further The demand for China has
in the Prussian Royal Navy, and Director of the Royal Dockyard at Dan- arrivals of dollars are expected shortly. zig, The two last-named gentlemen form also the technical committee.
It is understood that the directors have placed themselves in communica-sented on the 7th inst., shows an available balance of £68,995, and re- The report of the Electric and International Telegraph Company, pre- tion with the French "Registre Maritime," the Lloyd Austriacs " at Trieste, the "Associated Underwriters" at Copenhagen, and the Norske per cent, per annum.
commends a dividend of 5 per cent. for the half-year, or at the rate of 10 (or Northern) Veritas" at Stockholm, and intend with their full concur- corresponding period of last year, but have not shown the usual ratio of The receipts have slightly exceeded those of the rence to publish a Register of Shipping, the materials for which are now being collected, and the work will appear on the 1st of October next. The
increase, owing, it is presumed, to the general inactivity of business and fees for surveys of vessel are fixed at very low rates, so that there will be
total absence of speculation. A sum of £10,000 is to be carried to the trust fand, which will then stand at 2105,171, and a balance of £4,026 no complaints on that score. Two doliars will be the charge for a simple survey, and the fees of watching the building and repairs of vessels
will remain to be carried forward. With regard to the agitation in favour less than half the amount authorised by the Bureau Veritas to be
of the taking over of the telegraph syston by the State, the directors charged. The signs for the first-class will be Al and A2, B for
have never been able to elicit any information as to the intentions of the the second-class, C and Ck for the third (signifying long or short
Government. They hope by the date of their next report the uncertainty voyages). Ships to remain ten years in the first-class, but after four
may be removed, since it tends to paralyse arrangements that might other- wise be made for an extension of their operations. years must undergo a fresh survey. At Bremen and the other ports on the Weser the shipowners, underwriters, captains, and ship- builders are all most favourably disposed to support the new institution to their utmost, and hopefully prognosticate that in less than ten years the "Bureau Veritas" will be talked of as a thing of the past and an historical fact.
Company (Limited) was held at the London Tavern, when the directors The half-yearly general meeting of the shareholders of the City Discount recommended that out of the balance of £4,859 11s. 8d. the sum of £500 be written off preliminary expenses; that a dividend of 10 per cent. per annum, free of income tax, be declared; and that the balance, amounting mously adopted. to £1,496, be carried forward to the next account. The report was unani-
At the general meeting of shareholders of the East London Bank (Limited) the directors' report was adopted, and a dividend at the rate of 5 per cent. per annum was declared.
At the meeting of the shareholders of the Bank of Egypt a dividend was declared at the usual rate of 10 per cent. per annum for the half-year. £5,000 was also carried to the reserve fund, which is thus raised to £50,000, and a balance of £8,810 remains to be carried forward to the sext account.
Great fears are entertained here that the Prussian Government is seriously contemplating cutting the Gordian knot of the vexed question of the rallway bridge over the Elbe between this city and Harburg-which has been in negotiation between Hamburg and the Government of Hanover for more than twenty years without finding a solution-by taking the mafter In their own hands, and building it from Harburg to a point on the Holstein side of the river below Altona, thus circumventing Hamburg and entirely cutting us off from direct communication with the sea. So much is certain, that a Prussian railway engineer has been sent down to "study" the locality, and draw up a report with estimates. The line has already been surveyed and staked out, and as the execution of the works will be not only difficult, but must last five or six years, as the bottom to a great
A meeting of Spanish Passive Bondholders has been held to consider depth is all morass and soft mud, the estimated cost is twenty-five millionsson, M.P., presided, and announced a proposal of Messrs. Baring to ad- the terms of settlement offered by the Government. Mr. David Robert- of dollars, or about £3,500,000, whilst the estimates for the two bridges vance to the holders of the exterior stock, to enable them to subscribe for across the two arms of the Elbe and the island of Wilhelmsburg from this the additional amount they are to be forced to take, a sum of £800,000, city to Harburg, the plans and surveys for which have long since been pre- pared, were only ten millions of dollars. I need scarcely add that should
which would be equal to 50 per cent. of such payruent. The advance would be for six mouths, at the rate of 5 per cent. per annum, with per the plan be really executed the commerce of Hamburg and Altona will be cent. commission, the stock being held as security. A strong feeling was irreparably ruined, as it is not to be supposed that the arches of the new immediately manifested that these conditions would present no advantage railway bridge will be either high enough or wide enough to admit the whatever, and that in fact to entertain them would be simply to trife passage of large steamers and three-masted sailing vessels at all times of the with the interests of a body of claimants who have already for so many tide, and in the night too, which would be a dangerous operation; nor years experienced great injustice. It was therefore resolved, with appa- could the navigation be carried on if obliged to depend on the arrival or reatly only two or three dissentients, that the terms should be rejected, departure of railway trains, and the consequent temporary opening of a and that application should be made to the Committee of the Stock Ex- swing bridge. It is a great question whether Prussia, though undoubtedly change to continue the exclusion of Spanish securities from the London in the possession of both banks of the Elbe, would have the right, in an international point of view, of cutting off the communication with the sea At a meeting of the Eastern Assam Company it was announced that the for an independent State. Hamburg is now quite as much a seaport as
directors are not in a position to recommend a dividend, owing to the partial London, but should the bridge be built where now projected, Hamburg suspension of operations occasioned by the suits in Chancery. will become as much an inland city as Dresden or Berlin.
Our only hope is that Prussia will not be prepared to throw away five-and-twenty millions of dollars, when the object may be obtained without its costing her anything, for it might easily be made a condition in the concession about to be granted to the Cologne and Minden Railway Company, who are willing to undertake the construction of the so-called Paris and Ham- burg direct railway, that they be bound to make the bridge from Harburg to Hamburg, the more so as the Hainburg Government has declared its readiness not only to bear five millions, or one-half of the estimated cost, but to give up without any remuneration the land required for the ter- minus and other parts of the works.
COMMERCIAL.
On the whole the produce markets have been quiet since last mail, and there is but little to report. Rice firm. Cassia Lignea continues in good demand, at 11 sch. beo. Pepper is more in request, and among the transactions were 1,500 bags of Singapore, at 3 5-16ths sch. bco. The holders of Spelter will not listen to lower offers, and steadily adhere to their demands of 133 marks banco, both for delivery and in loco. no buyers can be found at that figure, there have been no transactions,
SHIPPING INTELLIGENCE,
ARRIVED. Grossvater, froto Java.
As
LOADING. Padel, for Singapore and Penang; Isabelita, Manila; Aldebaran and Energie, for fong Kong; Saturnus, for Shanghai ; Christine, for Nagasaki and Yokohama.
Monetary and Commercial.
The China Steam and Labuan Coal Company have received advices from their managing director at Labuan giving satisfac- tory accounts of the possibility of bringing the undertaking into remunerative working without additional outlay.
The following circular, dated 9th August, has been issued by the liquidators of the company:-
Notice is hereby given, that a general meeting of the members of the company will be held at the London Tavern, Bishopsgate-street, in the city of London, on Thursday, the 15th day of August, 1867, at two o'clock
inarket.
The directors of John Crossley and Sons (Limited) have declared an interim dividcad of 15s. per sbare for the past half-year, being equal to 15 per cant. per annum.
An extraordinary meeting of the Telegraph to India Company was held on the 9th, when the agreement with the Telegraph Construction and Main- tenance Company was confirmed.
Shares.
05
ARRANGEAR
BANK AND MISCELLANEOUS SHARES.
Joint-Stock Banka,
Agra Rank, A shares.
Paid.
Prices Aug. 9.
Trices
Aug. 11.
26 to 28
108 to 110
6
Do. B do.
Bank of Egypt.
All
Chartered BankInd.,Aust., & Chine
All
Chartered Mere. offadia and Cline
26 to 28
City Bank
10
1 to 1x.d.
12 to 14 d.
London and County
51 to 50
54 to 56
London Joint Stock
15
37 to 89 x.d. 87 to 39 xd.
London and Westminster
20
87 to 90x.d. 89 to 91 xd.
Ortenial Bank Corporation
Ail
42 to 43
49 to 43
Union of London.
15
$9 to 40
39 40 40
MISCELLANEOUS,
5
Bombay Gas
All
14 to 1
4 to 44
Ceylon Deb,, Nov. 1869, 6 per cent.
100
162 to 104
1102 to 104
Da.
Da
1878
100
108 to 110
Do.
Do.
1872
100
101 to 108
104 to 106
20
Ceylon Company
10
2) toll die.
20
Do. A stares.
20
10
20
10
20
Chine Steamship & LanunuCoalco. Credit Foncier & Mobilier of England Egyptian Com. & Trading Company General Credit &Discount Company Hong Kong and China Gas International Finance Society Oriental Gus
134
6 to 5 dis.
6
14 Lo4 dia.
7
2 to 2 dis. 2 to 24 die.
AN
8 10 10
5
All
54 to 52
32 to 5
10
10. Inland Steam.
All
50
P. and 0.Steam Company.
All
18 to 50
50
Do. New 1966
All
48 to 30
50
Do. Do. 1867
6
4 to 2 dis
4 to 2 dis.'
20
Société Financière d'Egypte
10
7 to 6 dis.
7 to 6 dis.
10
Upper Assam Ten
10
Do
I to 3
7 to 3
100
West India Steam Company.
60
128 to 88
96 to 88
~ ! ||RRRASAÆ8*888ÂRAAG
2 to 1 dis.
to dis. 2 to 14 s.
13 01908.134 to 14 dis.
53 to 5 dis.
1 to 4 dis.
6 to 10
24 to 24 din 3 to 23 dis
49 to 1
19 to 51