Entimations.
DAKIN'S
SPARKLING AERATED
WATERS:
ARE UNSURPASSED.
PECIAL TERMS TO LARGE BUYERS been restored,
SPECIAL
COAST ORDERS PROMPTLY ATTENDED TO.
זי
No Extra Charge for Packing. DAKIN BROS. OF CHINA
LIMITED,
CHEMISTS, HONGKONG.
(Telephone No. 60.) Hongkong, 23rd July, 1889.
A. S. WATSON & CO.,
ESTABLISHED A.D: 1841. MANUFACTURERS OF AERATED WATERS.
[13
OUR AERATED WATER MANUFACTORY is replete with the best Machinery, embodying
all the latest improvements in the trade.
THE HONGKONG TELEGRAPH, SATURDAY, JULY 27, 1889.
imagined, and plungers who had turned aside practice, which probably originated with the other from the voice of reason and commonsense-vide" concerned," has been more than atoned for by the Hongkong Telegraph of the 31st March, 1882 ltberality unexampled in the history of limited -were compelled to listen to the unerring logic liability enterprises in this part of the world of figures. When the crash came, and it was a Since the beginning of March, "Luzon" shares gradual, not a sudden development, per shares have changed hands at as high as $137 per of $ too cach, which were eagerly sought after at share-and for what reason? Apparently on the $130, were in a very short time out of favour at strength of the widely circulated opinions of Mr. halt that price. Public confidence in the enter E. R. Belilios, who is said to be largely interested prise was thoroughly shaken and, fluctuations of
In the cncern. These opinions were doub·less the share market notwithstanding, it has never based on what he saw and heard during a recent visit to, Manila. Now, clever man as The first annual report, presented at a maccting Mr. Belilios may be, he knows about as much held on the 24th March, 1893, was a lamentable of the practical business of sugar refinery record of failure. A gross profit of $49.004.41 had as we do of the sex of the dodo. His reports been made on sugar and molasses, but heavy about the prospects of the Luron Refinery, or trade expenses, etc., elc.,
had absorbed perhaps it is fairer to say the reports attributed it all with the exception of a small balance of 10 him, which" boomed " a non-dividend-paying $4.09.65. And two typhoons had caused damage stock to something over thirty percent. premium, to the extent of $13.592 54 which, with the pre- are simply absurd. Perhaps the business is liminary expenses incurred in the formation of prospering-although we have the best reasons the Company, had to be carried forward as a for believing that the contrary is the case; but debit balance. This was a very depressing even allowing that fairly profitable results are commencement for the prophets.
being achieved, the financial position of the Com- pany ought not to be lost sight of. The liabilities amount to the enormous sum of nearly one million dollars, on $300,000 of which interest, amounting roughly to about $15,000, has to be paid before a single cent can be set aside for dividends. Let unbelievers compare this with the net profits hitherto made by the Company, and they can see what will be left for distribution to the shareholders even under the most favourable circumitances. The great "boom" in the sugar business throughout the world does not perceptibly affect the Luzon Refin ry, which has a special trade and an exclusive Owing to the great ris in the price of coal the cost of pro- duction his been expensively increased, and, so far as any body knows, nothing whatever has happened to mate islly improve either the pati. ion or pro pects of this Company. Its past un fruitful career and the latest published balance- sheet speak volumes, which, to the initiated, cannot be misunderstood. "Luzons" have been the most fatal of all local stocks to speculators; at least three good men and true, well known to many of our readers, went to an
confidence" which so often leads to ruin. It is sincerely to be hoped that in this latest "boom" for that a coiner" was rigged in, Luzons ä few weeks since is as certain as anything can be-bistory, will not repeať itself
At an extraordinary meeting of shareholders in the Luzon Sugar Refining Co., Ld, held on the 16th May, 1883, the truth about the enter prise was very plainly told in a special report furnished by the late Mr. Henry Dickie, man- ager of the China Sugar Refining Company, LD. Mr. Dickie, than whom, to quote the words of Mr. F. Bulkeley Johnson, who was Chairman of the meeting, "there was no more qualified man lee or anywhere else," did not consider the site of the Refinery a suitable one, he was certain that at the then price of raw sugar the place could not possibly pay, that the demand for their products was a fickle one, and he found the plant so unsatisfactory that he recommended the intro- duction of the charcoal procers. On the strength of this unfavourable report something had to be done to conciliate the indignant shareholders, and a plausible statement was made to the effect that the charcoal process would be intro- duced, and further that "the concerned in the Weintich patent" would place at the disposal of the General Agents a portion of the purchase money they received from the Company to the extent of the estimates of cost of the
liberal WAS, on the face of it,
returned being offer, the amount to be placed at $70,000; but its actual value, when the full amount allowed for Packages and Emptics is remembered that "the concerned in the when received in good order.
Weinrich patent were Mr. Bulkeley Johnson, Counterfoil Order Books supplied on applicaepresenting the General Agents, and Mr. W. McGregor Smith, the manager of the Company, COAST PORT ORDERS.
Another whenever practicable, are despatched by first is not quite so easily ascertained,
investigation of the Company's business was steamer leaving alter receipt of order.
shortly afterwards made by Mr. John McGregor (of Messrs. Jaidine, Matteson & Co.'s) and Mr. Morrison, a civil engineer, from Shanghai we'l known in connection with that firm, and these gentlemen substantially endorsed the report of Mr. Dickie.
The greatest attention has been paid to appli ances for ensuring purity in the Water supply, to recure which we have added a Condenser cap able of supplying us with 3,000 gallons of distilled water a day, and are now in a position to compete quality with the best English Makers. Our Sweet Waters cannot be surpassed anywhere.
The purest ingredients only are used, and the
market of its own,
MESSRS. Russell & Co. inform us that the E. and A: S. S. Co.'s steamer fenmuir left Port Darwin for this port to-day, and may be expected to arrive on the 5th proximo.
THE P. M. S. S. Co.'s steamer City of Rio da Fanaire, with mails, &c., from San Francisco to the 8th lost., has arrived at Yokohama, and left for Hongkong this morning. TO-MORROW morning between 9 and 10.30 o'clock the steam-launch carrying the Bethel fag. will call alongside any vessel hoisting code pennant C. to convey men ashore to II a.m. service at St. Peter's Seamen's Church, returning about 12.30. ___:
CANTON.
(FROM OUR CORRESPONDENT.)
CANTON, 17th July, Another old landmark in this neighborhood is. I fear, destined to pass into Chinese hands. I refer to the British Consuinte building at Wham poa. Owing to the abolition of the Vice-consulate At Whampoa the building will shortly be sold by auction. This is one of the most substantial foreign residences in Southern China, and it occupies a picturesque position.
The sudden and unexpected death, at Aden whilst on his way home, of Mt. E. L. Reuter, of Messrs. Reuter, Brockelmann & Co., is much regretted here, as he was a man extremely popular both with foreigners and
alives.
Thus the Kobe Fushin Nippo:-The Chinese Naval Department have decided to discharge all the foreigners in the service. They are about despatching a squadron of sixteen men-of-war to The Viceroy has taken energetic steps in Nagasaki upon an experimental cruise, and it is regard to the piratical attack on the steam possible the vessels may visit Kobe and Yoko-launch, mentioned in my letter of the 24th inst. No less than fifteen gunboats and guardboats are at work in the neighborhood where the launch was boarded, vigorously searching for the maranders, and all vessels passing are over- hauled and their passengers carefully examined.
hama.
THE city of Berlin derives a large revenue from various enterprises carried on for the public benefit. No less than 1,276,000 marks annually are received from the horse railroads. The gas company (a London affair, by the way) contributes 513,000 marks annumily, the electric company pays 90,000 marks and the occupants of public lands pay 50,000 marks more.
On dit that the big share-dealing case in con- nection with "Ropes," Joseph and Fredericks v. Rustomjee, will come on for bearing at the beginning of next month, and that Mr. W. V. Drummond, of Shanghai, has been specially retained to lead for the plaintiffs. Mr. Jno J. Francis, Q.C., will appear for Mr. Rustomjee. Some more sensational disclosures in connection with the notorious "Corner" are confidently anticipated.
FORMOSA.
(FROM OUR CORRESPONDENT.)
Tamsui July 2oth, 188g. Since my last letter things have been jogging along here much in the old Tamsui pyjama style. The usual amount of stearners have comp and gone, though of late not always with full cargos even this article is depressed, we of tea, as believe, and the market roms to be more or less at a standstill. Noble chaaszes have managed to find more time of late to visit us at the Port usually they are so awfully busy "dontcherknow." One would have thought that there war enough tea and to spare, judging by the reported lasses from New York. By the bye, how do people manage to get so fat on losses?
utmost care and cleanliness are exercised in the erection of charcoal appliances at Malabon. untimely grave through that blind unreasoning the matter. hesitating on account of the loss of Bourne, and compared with his predecessor he
manufacture throughout.
FOR COAST PORTS, Waters are packed and placed on board ship at Hongkong prices, and
tion.
Our Registered Telegraphic Address is, "DISPENSARY, HONGKONG," And all signed messages addressed thus will receive prompt attention.
4
The following is a List of Waters always kept ready in Stock :--
PURE AERATED WATER
SODA WATER
LEMONADE
POTASH
WATER SELTZER WATER
SARSAPARILLA WATER
LITHIA WATER
TONIC WATER
GINGER ALE
GINGERADE.
No Credit given for bottles that are dirty, or greasy, or that appear to has been used for any other purpose than that of Containing Acrated Water, as such bottles are never used again by us.
WATSON'S
PURE FRUIT CORDIALS, Prepared from the Juice of the finest selected Fresh Ripe Fruit.
Black Currant, Red Currant Orleans Plum
Raspberry Strawberry Damson
Fine Apple Morella Cherry Lime Fruit, &c. A tablespoonful (more or less according to taste) added to a tumbler of plain or aerated water forms a delicious beverage. The addition of Wines or Spirits produce excellent and piquant
results.
Price, 75 Cents per Bottle, or $7.50 per dozen Case Assorted.
RASPBERRY SYRUP STRAWBERRY SYRUP RASPBERRY VINEGAR
Price,
$1 per
Bottle For imparting a,delicious flavour to AERATED WATERS, SUMMER DRINKS, &c., &c.
Sole Agents for Hongkong and China for MONTSERRAT LIME FRUIT JUICK CORDIALS.
A. S. WATSON & Co., LTD., Hongkong, China, and Manila
This
The second annual meeting was held on the 18th March, 184, and the report for the year's working showed a net profit, including the $4090 65 brought forward, of $27,784.23, which certainly appeared on paper an eminently satis factory result but after interest had been deducted, and fees paid to Consulting Committee and Auditors, and remuneration and commissions to the General Agents and the Agents at Manila, a balance of $12,030.70 only remained, which it was recommended should be placed against losses incurred by the typhoons in 1882. This was somewhat disappointing, but the General Agents were confident of the future, the net profit for January and February alone having renched $14,600.
TELEGRAMS.
THE ADDITIONAL ROYAL GRANTS, LONDON, July 251h,
The Ish members and Mr. Gladstone will support the Government against Messrs. John Marley and Labouchere, who oppose the increase to the income of the Prince of Wales, although upon diff rent grounds.
THE SCOTCH LOCAL GOVERNMENT
BILL:
ANOTHER TYPHOON.
THE Washington Star save:-It is understood that Secretary Blaine offered the appolatiment to succeed Minister Denby ns Minister to China to Admiral Shufeldt, retired. The Admiral, while not declining the mission, asked time to consider
his pay as a retired naval officer that would he involved in his accentance. If he does not accent and it is thought to be very doubtful, Kasson, of low one of the Samnan commis- sioners, is spoken of for the mission, TEL GRAPHIC news was received the other day from Cape Batangan that the stranded steamer Ardgay had been moved another bundred and fifty feet seawards. The recent typhoon struck the coast at a considerable distance from
Cape Batangan, but its effects were nevertheless felt in that locality, the heavy sen sweeping away a large portion of the coffer-dam. Mr. Andrew Johnston, the engineer in charge of the operations, does not consider it necessary to reconstruct the cofferdam, as he feels confident that the steamer can now be floated without much further trouble.
THE order of Mr. R. F. Tracy, Secretary of The House has read a third time the Scoich the United States Navy, in regard to
the Local Government Bill.
painting of vessels is as follows:-Hereafter all iron or steel vessels of the Navy will be painted as follows: Hull utside above load water line and bulwarks inside to be painted white. Masts, bowsprits, doublings, smokestacks and all varis to be painted a light straw color, now in use for spars. With view to proper economy, this order will not go into effect on any vessel until it is found necessary to repaint her, then it will he done in accordance with the method prescribed by the Bureau of Construction and Repair.
SOME of the so-called strikes that have recently occurred in various parts of Europe would,
A telegram was received from the Observatory at five pin. stating that a typhoon was raging in the Chini Seas. The barometer then stood at 19 70.
LOCAL AND GENERÁL,
BUSINESS in shares is still so unreliable that we merely give our list of quotations for whatever it may be worth.
ACCORDING to a recent return there are in Tokyo no fewer than twenty-six clubs, all of which differ in their political views.
THE service at the Peak Church to-morrow afternoon will be conducted by the Rev. G. H. Bondfield, minister of Union Church. The case in which Mr Fraser-Smith charges Mr. A. H. Dugh with malicious prosecution will be tried at the Polics Court on Tuesday morning
at io o'clock.
WE are informed by the agents (Messrs. Adam- son, Bell & Co.) that the steamship Albany, from Glasgow and Liverpio', left Singapore yesterday afternoon for this port. EDITOR (to his dramatic eritic, looking at his manuscript): "Isn't your description of the star actress's dress rather low in tone ?" Critic, "It isn't half as low as the dress "
was,"
observes a San Francisco contemporary, not so many years ago, have been called revolts, and The drivers and conductors, of the Roman would have been suppressed with great bloodshed.
amnibuses recently engaged in a strike. "Death to the rich" was the cry of the strikers, who álio sacked nih the private houses, inns, and, eating houses which they passed on the road, They likewise tore, down the signs of shops," and railings, and broke the windows of every house which they could reach. The usual police force was powerless against, them and a company of soldiers had to be called before the mob could be dispersed. Everywhere the greatest discontent reigns among the working classes against the land proprietors,
the
We are soon to lose our popular Consul, Mr.
has indeed been a blessing. No doubt we shall all miss him badly, though of course masi keenly felt by his departure: will b his connections in the Government service here. It must be a very dificult task for a Consul if asked advice by Government officials about contracts etc., to, at the s'me time, preserve the treaty rights of merchants, more especially at this port, where the question "Is Twatutia the Port" constantly crops up and even now does not appear to be satisfactorily settled. In this double capacity Mr.. Bourne has no doubt thoroughly done his duty. We shall always remember him as sticking up for British interests and thereby saving, which at the time appeared inevitable, the running of the Government ser- vice here passing into the hands of the Teutons. If you happen to be in the Goverment service bere it appears the correct (7) thing to do is to give the officials "carte blanche" to come and drink champagne, cat your dinners and lounge about your own chairs. It looks well, don't you know! But it is a cold day when "Johnny" gets left, and we have not heard of any vacancy as "adviser" to a Chineseembaary abroad being open. Generally these little frivolities die a natural death. We have no "Cum up my luy street here, but we have a society of "creepers."
It is reported that Ting Tantai-until a few days ago Manager of the Arsenal and Railway-is about to return to his native town of Anhui, as he and the Governor have had a few words together, This mandarin undoubtedly took kindly to foreign ideas, and with his assistance much work has been put through, which otherwise might not have been accomplished. We know "téte à tétes " so beneficial to both their healths, one person here who will miss those quiet little
STOCK EXCHANGE AND TURF
GAMBLING.
Į
|
mercial recklessness on Friday isnotimprovidták, management of the businessoiterallylyanryhi), Still less is it gambling or extraýygðhep" of ane descriptions prevalent among the uncommercial classes. His theme in the appetite, which, he asserts, the experience of the Court of Bankrupicy proves to be spreading beyondall bounds through- out the mercantile community, for speculating in matters bearing no relation to he legitimate business. The practice of unscrupulous trading in the subjects of men's ordinary business is constantly provoking the just animadversions of the Court of Bankruptcy." It is a vice as old an the bills, and not likely ever to be completely corrected. Of another sort of gambling, which, in comparison with Mr. Lawrence's kind, might almost be called legitimate. Mr. Registrar- Brougham had an example before him, imme- diately after he had done with the speculator in copper. Mr. Arthur William Powell made his appearance once more; and that it may be his last in public is the kindest wish which con be expressed' on his behalf. According to the story so often recapitulated, he became, in the. year 1885, master of £65 000. At present his liabilities are £3, 61, and of assets there are none. By horse-racing he reckons he last between £30,000 and £40coo. Cards would probably account for a good slice of the residue, though he states that, if one night he lost £13,000, he won £15,000 on another. Nothing could be more Absurd than the entire tenour of his brief carcer. But, at any rate, it showed something like con- sistency. He set himself the task of being as ridiculous as possible, and of spending "bis money in a way to extract as little benefit, or even pleasure, as possible out of it. The world has never been without examples of lolly of the same type as his, and never will be. Mr. Registrar Brougham understood that moraliz ing would be wasted upon him, and let him pass his examination without the delivery of a homily on prodigality, or the imposition of suspension,-- which could have answered no useful purpose, He is, or will soon be, free to throw away another £65,000, if it he given him. Public interests are much mom seriously compromised when persons associate and confound the characters of sober business men and dealers on the Stock Exchange in risks which are for them as mere gambilng ar is for a West-end spendthrift wild betting on the turf or the harard of thousands at baccarat. The Registrar drew a true distinction when he treated that as a breach of commercial propriety neces- sitating punishment for the sake of public ex- ample, without respect either to the advantage of creditors or to any exceptional degree of per sonal culpability in the particular debtor.
A POSSIBLEe chinese COLONT.
The Registrar deliberately HAYS, Almost every report made by the Official Receiver con- tains a statement that the debtor has experienced large losses on speculations which have nothing whatever to do with his legitimate business. Mr. Lawrence 'does not seem to have sinned beyond measure in the nature of his speculations, regarded by themselves. The amount of his aggregate losses is trivial in comparison with the totals to which bankruptcy officials are accustomed. Really, for a speculator, he pulled up in his precipitate course with extraordinary self-restraint. But the propensity which has carried him into insolvency, and the habit which his case illustrates of the desertion by business men of their lawful vocations for the prosecution of a business not their own, and for them not business at all, though it masquerades as such, are ominous phenomena in modern mercantile life, and call for the severest checks the bankruptcy procedure can apply. By vo'r many London traders all business seems to be thought to possess so intrinsic an identity that what would be gambling in a lawyer or clergy- man is, in the merchant or shopkeeper, a simple offshoot of his acknowledged dealings. It là n delusion, equally mischievous for the neglect of. their rightful functions, to which it tempts men,
citizenship and membership of an old established and for the eventual ruin of their fortunes, which is the all but invariable consequence. Hereditary
firm, which may imply close acquaintance with the mysteries of one or another specific depart ment of commerce, confer not the slightest power of predicting the vagaries of the money market or the vicissitudes of a ring. When a trader is Mr. Registrar Brougham made some very caught red-handed in the act of thus confusing seasonable remarks last Friday on the gambling business and speculation, it is incumbent on the spirit which, he says, is become general among law to remind him and his class that losses, all classes in the country, and especially in the which would bare invited pity if incurred in the commercial classes. His comments were sug-ordinary conduct of affairs, arc as discreditable gested by an application for bis approval of a to the loser as they are unjust to his creditors. scheme of composition in the failure of a Mr. | -Lenden Timer, 10th Jane. A. M. Lawrence, Mr. Lawrence has been carry- Ar the Police Court this morning, four men
on the business of an Australian and com- belonging to a fishing junk at Yau-ma-ti were mission merchant since 1872. From 1886, when by beating him on the zand inst. Mr. Rodyk traded alone. His firm has been long established, charged with causing the death of an old coolle
his father, whose partner he was, died, be has defended.-A little boy belonging to the junk stated that about midnight he was awakened by and was prosperous. But early last year he bearing a cry of "Thief." The junk was began to speculate in copper shares. Although beached at the time, being under repair, and the copper is an Australian staple, it does not appear moveables on it had been stowed in a shed on that his copper speculations in 1888-9 had any beach. The men on board got down on the connexion with his regular business. He bought for the rise, baving faith either in copper or beach, as did also the boat-builders living in in the strength and obstinacy of the Copper the vicinity. He saw that his mother, who slept in the shed, had hold of a man. The men Syndicate. His first operations were not fortunate, get hold of him, and took him to their shed, deterring bim, gave him an additional motive for and he lost £1,900. The disaster, far from
as enrich himself. His hopes, as he nstrely told the Bankruptcy Registrar on Friday, would have been realized hut for the accident of the Paris collapse. Down went in March the shares which he had engaged to buy at a very much enhanced price. He found the balance against him in differences was £3,000. The £1,900 lost year he had been able to pay. The 3,000 he could not and he then at length took a sensible course.
It may be remembered, in this connection, Without fatal plunges and struggles for retrieval be confessed himself insolvent, and put his books that the papers have, contained a story that the and assets in the hands of the Official Receiver. Peninsular and Oriental Company is thinking of The result is there appears to be property worth putting on a line of steamers to run between £9,453 to discharge debts having a legal claim Hongkong and San Diego. Persons familiar upon it of £14,630. That obviously is an estimate with the course of trade have wondered where of which the debit side is sure to justify fully its such a line would get business even with amount, while the credit computation may be close alliance with the Atchison Railroad it is upset altogether by forced realizations. Mr. not easy to see where, under ordinary circum- Lawrence has offered a composition of ten shill-stances, the steamers could get cargoes in com ings in the pound, if his creditors will agree to petition with the Pacific Mail line to this port, let the estate be taken out of bankruptcy. If it and the Canadian line to Vancouver. But if the be administered in bankruptcy, his solicitors are. Chinese lease of territory in Lower Californis of opinion that no more than five can be obtained. was coupled with a scheme for a wholesale The Official Receiver does not dispute their importation of Chinamen into that territory, the view, and on Friday asked for the assent of the secret of the scheme would be explained. Tha Court to the arrangement, Mr. Registrar big ships of the Peninsular and Oriental line could Brougham himself, secs no cause to doubt that easily carry 100 Chinsmen at a trip, besides the creditors will receive less if the estate be freight and coal for a voyage direct from Hong- wound up in bankruptcy than if the composition kong to. San Diego. They could empty their iron hoop in ble band which he used for turn- were accepted. Yet he has refused to sanction, mail and passengers outside San Diego, into a his pursuer. In another minute the latter was' mend themselves, if not to creditors obliged to and passengers outside Queenstown'; and, this NATIVE Goancial circles, says our Shanghai open him, and Lee Ab-ching made a thrust at take a quarter of their due instead of tall, to the done, they could run down to any point on the
him with the piece of hoop, striking him upon the rag-picker made a desperate lungs at bim and struck him in the left side, Just below the heart, The iron being rather sharp from constant use, entered the coolie's body, and with a cry of agony be fell to the ground. Two natives who were present and had seen most of the quarrel, per- ceiving that the coolie was badly hurt, secured the rag-picker and sent for the police. A forsign and a native constable soon appeared on the scene, but by this time the coolle had expired. The murderer is on remand. He asserts that he acted only in self-defence, and as he is an old man, and his victim was a young powerful fellow and undoubtedly began the dispute that ended fatally, his story is probably true. In accordance with Chinese custom he was brutally tortured (in the presence of a foreign visitor) to make him confess, but be stuck to his story and was remanded for furtiser torture..
Sufficient attention is not being paid to the operations of the Chinese in Lower Califorals. The details of the bargain which has been made between the Mexican Government and the Chinese company concerned are as yet a secret. But it is openly stated that the company has obtained from the Government a five years' lease of certain territory, with exclusive rights of fishing, mining, gathering orchilla, and conduct. question is said to extend many miles on each ing agricultural operations. The territory in
embrace La Pes on one side and Magdalena Bay on the other. Common report says that the representatives of the company in this city are shipping Chinamen from here to the south, and that every steamer which leaves San Diego for Ensenada carries a number of them. And the suggestion has been made that the Six Com panics propose to convert Lower California into a Chinese colony.ut of and yo
On July 23rd, 1884, an extraordinary meeting was held in order to arnend one of the Articles of Association, so as to allow the General Agents 10 declare an interim dividend, and in August of that year an interim' dividend of 3 per cent, was duly paid. At the annual meeting on the 18th March, 1885, the report showed that the balance at credit of Profit and Loss was only $7,781.78, and out of this it was decided to liquidate the balance of the typhoon damage of 1882, and preliminary expenses, amounting to $6,955 69; and to carry forward $826.09 to new account, This was another disappointment to confiding shareholdes, which was not in any way lessened when a glance at the statement of accounts showed that interest, fees, and commissions to General Agents, etc, totalled $19.168.79. The working for 1885, although nothing like what was predicted, showed some improvement, a sum of $12,001-$2 being available for distribution, and the General Agents very prudently recom- mended a dividend of 3 per cent, which was agreed to, But a very heavy item had been added to the Company's responsibilities in the shape of extension of works for charcoal working and a new water supply, amounting to $148 938.07. minus $50,000 returned by the vendors of the Wienrich patent. To meet this outlay the General Agents advanced a lean of WE are informed by the agents (Messrs. Russell & $sanoo, free of interest until the Company Co.) that the "Union" Line steamer Yerkshire, attained a position to pay a dividend of 7 per from London, left Singapore for this port yester Escent. As the Company has not paid any dividend day, and may be expected to arrive on the 2nd
since that time, the General Agents' handsome proximo, concession is still in the nature of a cumshaw An Emergency meeting of St. John Lodge, No. to the shareholders. This year, it is worthy of
the amount charged for interest, fees, and 618, SC will be held in. Freemasons Hall, beating him as they dragged him along.-The other adventures. He had to reimburse as well side of the peninsula from Cape Lucas, so au tą note, commissions had increased to $23,845.03, or more than one half of the Company's net earning.
Good results were predicted by the General Agents for the year 1886, but they were not realised in fact, the Company experienced some thing not very far short of a total collapse Instead of a handsome credit balance, the Profit and Loss account showed a debit of $29,323.18- attributed mainly to declining prices and beet. A JAPANESE vernacular print published in Tokio re t competition. The actual loss in working states that arrangements are now being mae was stated at $1,300.49. Again the General by Mr. Iwasaki Vanosuke and the principal Agents came to the rescue and returned their officers of the old Mitsu Bishi Kaishs, to establish
a large iron foundry in Fukuoka Pref core, commissions and interest due, aggregating over $14, 53. The following year also proved profitless, ad the works had to be closed for several DR. DOBERCK writes to-day, in his weather fore months Again no dividend was available, the cast, that the barometer has fallen in Hongkong, $1,354.64 at credit of, Profit and Loss being and risen elsewhere, and that there is a depres- set aside to reduce the debit balance of alon in the China ses. The glass fell from the previous year. But for another concession 29 85 to 29.78 between 9 am, and I p.m. to day. of about $15,000 from the General Agents for All the sampans and jänka have taken refuge. interest and commission, the advisability of She's coming, sure. closing the business would inevitably at this time VARIOUS Governments pay their chiefs an have been seriously considered. The liabilities of follows:-The United States, $50,000 a year 1 the Company were, however, further added to by Persia, 8,0,000,000: Russia, $10,000,000; Siam, the purchase of new machinery for the produc- $10, 00.0 o; Spain, $3,900,000; Italy, $3,000,000 tion of a kind of cube sugar, said to be in Great Britain, $1,000,000; Morocco, $2,500,000 great demand in Spain The working for 1888 Japan, $2,300,000; Egypt, $1,575,000; Germany; enabled the debit balance to be reduced by Saxony, $700,000 Portugal, Sweden and Brazil, further expenditure on Property account had
$240,001 Switserland, $3,000. increased the amount of the General Agents' advances by upwards of $50,000. And, that brings us to the present position of affairs.
The Hongkong Celegraph
HONGKONG, Saturday, July 27, 1889.
OUR LOCAL- STOCKS.
THE LUZON SUGAR REFINERY,
Zetland Street, on Tuesday, the 30th instant, at 8:30 for 9 pm precisely. Visiting brethren are cordially invited.
| IT is announced that the effects of general and unrestrained absinthe-drinking in France are now recognised as forming a basis of one of the gravest dangers which threaten the physical and 'moral welfare of the French people.
ruan was afterwards found in the shed with his
hands tied behind his back, and died after being removed to the Hospital. The case Was remanded.
A VERY trivial cause led to the commission of a shocking murder in Li Hongkew, Shanghai, about II o'clock on the night of the 17th inst., by a rag-picker named Lee Ah-ching, 46 years of age. About two months ago Lee Ah-ching, daring biz travels, picked up several potatoes, which he afterwards offered to a bamboo coolie named Pow Ah-woo for five cash. The coolie accepted the offer and paid the money, but soon after, finding the potatoes were bad, he took them back to Lee Ah-ching, who had in the meantime spent the cash and consequently, could not return them; an altercation ensued after which the coolle went away. Ever since this time there has been great coralty between the two men, which last night culminated is a terrible tragedy. On the night of the 171b, Fow Ah-woo met the mg-picker near the Yuen Fong Bridge in Hongkew and asked him for the five cash. This was refused, and he then thrashing. The rag-picker ran away, but was set upon Lee Ah-ching and gave him a pursued by Pow Ah-woo, and, secing his adversary was rapidly gaining upon him, Lee Ak-ching turned round, took the piece of
played by the late Mr, F. Bulkeley Johnson $10,000, but still no dividend could be paid, and each $600,000; France, $200,000; Hayth, Ing over the garbage in the streets, and awaited the scheme, and on grounds which must com- tur,'as the Liverpool steamers land their mails.
The Luzon Sugar Refining Company, Limited, was brought into existence in March, 1882, under the direct auspices of the princely house of Jardine, Matheson & Co., and it has been under their wing ever since. The capital of the Company was originally $700,000, divided into seven thousand shares of $100 each. What it is now we don't even pretend to know. Probably most people have forgotten, but it is nevertheless bus, that this concern was formed for the purpose of taking over certain properties in Manila belonging to Jardine, Matheson & Co. and a Spaniard named José Munoz Limjango, together with a so-called patent for refining sugar known the Weinrich patent. The um paid by the shareholders for this wonderful patent, including Jardine's old Lexon Refinery, was $300,000, and there is an interesting little history connected with this business, in which leading roles were and the still very much alive-and-kicking' Mr. McGregor Smith; on another occasion we hope torelate this somewhat sensational story pro bona Publico. No public company has ever started with a greater flourish oftrumpets than did thidone the success of the China Sugar Refinery under Jardine's management had apparently intoxicated both investors and speculators, and there was from the beginning a tremendous rush for Luzons. And since that time there have been periodical "ruthes," all of which have ended disastrously. The shares had no sooner been allotted than they were quoted at a considerable premium, and aeither facts nor arguments had the least effect in staling offinfatuated believers: most extensive gambling at high rates followed, and for many weeks Lusons formed the one great excitement in the share market. But it was the old story over again of the rocket going up and the stick coming down. The eyes of the public were very soon opened to the essentially uncertain character of this particular investments whatever might be the prospects of the Luson Sugar R. Apery it was quickly enough demon strated that it was not the gold: mine so fondly
On the 7th of March last, the date of the disturbed over the sudden disappearance of an the band. Pow Ab-woo renewed bis attack, and Public, which is more interested in the mainten- | coast of Lower California and discharge their
contemporary, the Mørcury, are very much annual meeting, the shares of the Luzon Sugar employd of the Ching Ho Bank, Ningpo Road, Refining Company were quoted at $97, although one of the best known Chinese banks here, who, the liabilities had been enormously increased, it has been discovered, has victimized hit and an actual debit balance of $18,466 48 had to employers to the tidy tune of Tla, 10,000. The be wiped off before any dividend could possibly police are anxiously looking out for him, but he be taken into consideration. In addition, it has not left any address. He is a man of about cannot be reasonably expected that Messrs. 30 years of age, a native of Chekiang,, and had Jardine, Matheson & Co. will continue year after been a confidential employé of the firm for about year to concede something like $15,000, due to two years. Simultaneously with his sudden them for interest and commissions. It is per- departure, another Chinaman, a silk merchant, fectly plain that had the General Agents claimed residing in the Foochow Road, has been reported what they were justly entitled to, the Luzon Sugar missing. His liabilities are even greater, it is Redaing Company, Limited, would have been believed, than the other absconder's He leaves practically bankrupt long ago, and in our opinion the Ting Ho Bank anxious to settle with him it would even now collapse within a few months for trife of some nive or ten thousand taels, under any other management. No doubt the the Ting Yoen Bank some Tie afoo, and the concerned in the Weinrich patent sold the On Foo Bank Tla, 1,600. The two men, who Company a very bigh price something that was were fast friends, are supposed to have skipped" practically valueless, but that little bit of sharp in company,
ance of a fair standard of commercial morality Chinamen into lighters or tugs: There would- than in the more or less of insolvency of this or be money enough in the business to tempt the that Grm.
Peninsular and Oriental to put three or four of The duty of an Official Receiver is to inform their old steamers into commission once more, the Court aswell as to guard, funds for the The Mexicans have never had much intercourse advantage of creditors. In its execution he could with the Chinese, and no exclusion act has ever not, white admitting the scheme to be for the been proposed in the sister repabile President. benefit of the creditors generally, refrais, from Diaz and his administration are now bent on. observing that it had been rendered necessary filling up the empty places of their country, and by rash and hazardous speculations. With that jo far as appears, they would as lief fill them with report before it the Court, as the Registrar Chinamen: as. with Americans or Europeans. explained, was obliged in some way to express They have made persistent but ineffectual its grave disapprobation of the debtor's conduct, attempts to induce a general settlement of LowCE Unlucky as it might be, he allowed, for the California. At least a dozen concessions of creditors that the arrangement should be rel cted, enormous tracts of country, including hundreds the Court was unable, by affirming it, to relieve of miles of coast, have been granted within the who had gone out of his way to present century, on the condition that the grantee a trader, speculate and gamble, from any censure upon would settle up the territory ceded. But they such an offence. The especial point to which have all falled The last to come to grief is the Registrar directed his criticism of comanderstood to be the International Company,