MEETING OF THE LEGISLATIVE COUNCIL.
A meeting of the Legislative Council' was held on the 16th just. There were present ;— His Excellency the Governo, Sir G. William da Vaux. KC.M.G., Mr. F. Fleming, C.M.G.. (Colonial Secretary); Mr. N. G Mitchell-Innes (Colonis! Treasurer); Mr. J. H: Stewart-Lockhart (Reteta Superintendent of Police); Mr. S. Brown (Sarveyor-General): Mechts, C. B. Chater, T.-H. Weinbere), and Kar, ned 1.1. Keswick (unofficial members), and Mr AM. Thomsan, Acting Clerk of Councils.
W M. Deane, C.M.G.,
MINUTES.
The minutes the last meeting were read and confirmed.
YÖTÉS AGREED TO.
The sums of $300 as an allowance in Heu of quaters of six teachers of the Government schnels, and $240 an allowance to the Steward of the Civil Hospital for collecting hospital bills, at the rate of $30 per month during the current year, were passed...
THE COLONIAL TREASURER'S skat.
Mr. N. G. Mitchell-Innes who was appointed
Colonial Treasurer on the ist ultima took the usual onth and his seat in the Council.
NEW FINANCE MINUTES.
The following minutes were laid on the table of the House and fomally referred to the Finance Committee:-
The Governor recommends the Council to vote a sum of -
(a.) One hundred Dollars ($100), being Increased salaries of two Caddis bicists, Thomson and Brewin, from 1st November to 31st December, 18, at the rate of $15 per nionth, sanctioned by the Secretary of State.
(A) Sixty-six Dollars and Sixty-six Cents, (66.46), being a portion of the amount required to purchase Private Hardwick's discharge, from the Army Medical Corps, and join the Colonial Service as Junior Wardmaster in the Civil
Hospital.
(c) Twe hundred and Nine Dollars, ($200) for general overhaul and repairs to Health Officer's Steam-launch Blanche, and providing launch while the repairs are being executed. *(A) *O*One thousand and two hundred Deltirs, {${1,200), for commission to other coun- tries on Postal Notes and Money Orderr.
(In former years all the payments for com. misions used to be deducted from the amount of commission received, and the balance only paid into the Treasury as Revenue, and all pay ments for commission to be treated as Post Office expenditure.)
(e) One hundred and sixty dollars, (3160), as a compassionate allowance to Mrs. Rozario, in consideration of the service of the late Mr. Heari Gustare, alias Henrique do Rosario, 4th Clerk in the Colonial Secretary's Office.
A RE-VOTE.
His Excellency recommended the Council to te-vote it sum of two thousand dollars, ($2,000), bring the balance on account of work done for the improvement of the piece of land known as the Chinese Recreation Ground," Amunt voted in 1889, ..............................
De paid in 1890,
PUBLIC LATRINES,
$6,000.00 4000.00
Paid in 1891.$1,000.00 Bye-laws for the regulation of public latrines which were drawn up by the Sanitary Board recently were approved, upon the motion of the Governor, seconded by Mr. W. M. Deane.
NATURALIZATION.
A Bill entitled no Ordinance for the naturaliza tion of Edward Jean Max Paquin was read second time without opposition,
THE* 1891 JURY LIST.
The Council then formed itself into Commitee to consider, in private, the Jury List (or 1891.
The members of the Press therefore withdrew at this juncture.
THE HONGKONG MARINA, LIMITED.
An extraordinary general meeting of share holders in the Hongkong Marina Company, Limited, convened for the purpose of confirming certain special resolutions passed at a meeting held on the 29th January, was held at the Hong- kong Hotel on the afternoon of the 16th inst. Mr. St. John H. Hancock, presided, and amongst those present were :-Messrs, A. E. Skeels, H. Harms, R. Fraser-Smith, A. B. Rodyk, D. M. de Graça C. D. Wilkinson (Solicitor to the Company), 1. M. Daver, A. M de Silva, C. A. Ozarin, C. Xavier, S. A. Rahman, five Chinese shareholders and D. da Rozs, Acting Secretary, vice J. A. Barretto, absent.
The Chairman sald-It will be in the recollec. tion of those present that a meeting was called and held on the 29th January at which a resolu- tion was passed authorising the Directors to issue debentures and accept an offer for the charter of the Company's verrel, but as some of the circumstances may have escaped your memory may be convenient for me briefly to recapfiu. late the facts. At the extraordinary general meeting beld on the 29th January the Directors were authorized to issue debentures to most the Company's liabilities and to accept a certain proposal made to charter the Company's Float ink Hotel The Company was started with a capital of $75,000, of which 865,890 was subscribed by 450 shareholders; 3.004 shares have been forfeited, on which there is stfil due $8,633. The are silil on the books foo shares not fully paid up the indebtedness on which is $1.76 these stares have not been forfeited, on
THE HONGKONG TELEGRAPH, THURSDAY, FEBRUARY 19, 1891.
the security offered is the vessel as she stands, with remaining furniture nad fittings, which have which in any event, for breaking up say, is worth cost $46,000 for materials and labour only, and two or three times the proposed debenture capital. Assuming this additional capital is raised and the charter effected, there would remain (after paying 8 per cent, on debenture capital) for distribution among the ordinary shareholders, sufficient to pay 9 per cent, per annum after The Directors providing for office expenses. were authorised by the shareholders, subject to confirmationto-day, to raise the additional capital necessary, by issuing not more than 400 deben- ture shares of $30-asch, redeemable by quarterly drawings af $15 (16 per cent. bonus) with interest at not less than 8 per cent, ten shares or more to be drawn every quarter, to secure re-pay. be paid to the Company's bankers or to ment of which the rent for chartering will trustees, the balance, after payment of Interest on shares not drawn, and repayment of shares drawn, to be allated pro rata among the ordinary shareholders. The
proposed number of deben- tures has been fixed at 400 in caz any foreseen delay shou'd occur in the sale of the launch &c. If these shares are issued, the whole of the proceeds of sale of the Company's property will be asad in redeeming the deben- tures. It is proposed to allot these debentures
The Chairman-In reply to your remarks I have only to say accounts were presented. Here are coples of them.
I
any man la adopting this resolution without a chance of going back on it. As regards ending the ship to Canton, I think it a piece of folly. The Chairman has told you, gentlemen, that if the hotel can be canted on here for another season, it has every prospect of being a paying concern. The first two months it was. running it made money, and we know how it was managed—it was not managed at all. I am perfectly certain the Marina, if properly managed, would return 10 per cent, on the subscribed capital, and also be a great boon to the colony of Hongkong. Why should we throw it away & I for one will be prepared to take $1,000 worth of debentures, but, gentlemen, don't allow your property to be thrown away. You might try twenty years and never again get a ship like that for a hotel in fact if it had not been for the, good fortune of the Directors fo
coming across that hulk you could not have done any- thing; you could not have built even the poa- toons for the capital subscribed. You have a litle capital at stake, and for your own sakes let us subscribe something to save it. You have value for you money, and more than value for your money in that ship and launch, and it only wants little exertion to make it a paying concern. Bat my object at present is to ask you, Mr. Chairman, before clinching matters, whether you don't think it is your duty to put some in the first instance to the ordinary registered before the shareholders? You must understand intelligent statement of the Company's kifairs shareholders and to allot sach shares a may not be taken up by them to the general publie that I shall be glad to give you any assistance who may apply for them. The Directors collec-possibly can to put things in a proper and clear lively fully paid and undertake, if necessary, to take up
hold one-sixth of the Company's scrip position. This is a good business, and it ought made to pay handsomely. I have a fairly one-sixth of the debenture capital, leaving lengthy experience of Hongkong life, and feel roughly $5000 to be subscribed
am sure that if well managed the Marina will the general by b dy of shareholders-213 in amber We
...always pay a good dividend. confidently anticipate that should this scheme be carried out, some of the defaulting shareholders will voluntarily pay their calls, with interest, in which case the Directors propose, if payment la made within one month, to re-lasce to these shareholders new scrip for the original shares with the bank, to be appropriated quarterly already forfelted, and to deposit such capital
towards paying off the debentures. It remains for me to point out that if the resolution passed at the last meeting on the basis of the foregoing proposals is not confirmed to-day by the share holders, the only alternative would be to pass A resolution to voluntarily wind up Company; in which event there is reason to fear that, After payment of debta and costs, nothing will remain for distribution among the share- holders. With reference to the original objects of the Company, I regret to say that owing to the lateness of the season when the Company started business, the advent of bad times," and the difficulties inseparably connected with faex- perienced management, as well as the very serious drawbacks of being unable to obtain suitable moorings, the earnings of the Hotel business from the 15th July to 31st October, 1890. only balanced the expenses, though on the rat two months' business a considerable profit was made. The experience already gained, however, leads your Directors to bellevé that the results of another season would be very different, and if the scheme for raising farther capital should be effected, another attempt might be made to retain the Hotel In Hongkong, should the present negociations for chartering prove successful. Ta briefly summarise this statement the Company is indebted to the extent of $15,000. To meet this it is proposed to collect, by sale of certain property and collec- tion of calls, $9.500; by issuing debentures $6,000 total, $15,500. The debentures to be Issued at $30, each redeemable at $35 and on such other conditions as the Directors may decide upon, not more than 405 to be issued, and trustees for the debenture holders to be appointed. The security for these debentures to be the whole of the Company's property, after selling the launch and surplus furniture and stores. This is a fairly accurate statement at the present moment. The discussion must be limited to two things-the confirmation of the resolution passed at the last meeting and should that not be passed, the passing of a resolution that the Company be wound up.
Mr. Fraser-Smith-Has there been any general meeting of shareholders under table A of the Companies' Ordinance ?"
The Chairman-Every ball-year. Mr. Fraser-Smith-And accounts properly. audited have been presented and accepted
The Chairman-Certainly. Mr. Skeels-And criticised l
The Chairman Yes, every opportunity has Mr. Skeels-I beg your pardon, nothing of the
been given for criticism.
kind.
The Chairman-We have posted to every shareholder copies of the accounts, and have issued notices calling meetings, but we had no quorum at the first meeting, and on adjourning we had no quorum at the second.
Mr. Fraser-Smith-I asked you a direct and simple question, namely have meetings been held in accordance with the Ordinance? Unfortunately the Company has no Articles of Association and has been working under table 4 of the Companies' Ordinance of 1865. Have you had meetings properly called? Have you presented your accounts in accordance with the requirements of that Ordinance? Have they been adopted, or have they not? I don't ask you whether you have called meetings and no one bar come I ask you, have meetings legally been hold? Have You complied with the provisions of the Ordinance ?
Mr. Fraser-Smith--Have they been passed? The Chairman-No. It is not our fault We require twenty to form a quorum, Table A is a but it bas one drawback. it requires twenty for good as articles of association to work under, à quorum. As regards the accounts for the past half-year, you know the year ends on the gist gat books closed and the Da ember, and accounts printed takes a considerable time, and It was not possible to have that done before the 29th January. Since then the Secretary has been Away on business and it has not been poisible to complete the audit. I assure you as soon as it is physically possible it will be done, and we shall be only 100 glad to meet your criticism.
Mr. Fraser-Smith-Then I propose we ad- Journ this meeting sine dis, and I shall be glad to guarantee $1,600 to help to slave off the evil day you re-m to fear, until we know the true position of the Company.
Mr. Skeels-I have pleasure in seconding that, as I think it necessary the accounts should be passed before we go any further.
The Chairman-I should tell you-it may not have come to your knowledge-that circum stances may happen to-morrow, if this resolu... tion is not passed to-day, which will render this djournment useless,
Mr. Fraser-Smith-Who is the pressing creditor?
The Chairman-There are a dozen large editors. The total abilities are $15,000, There is one pressing creditor for $4,000 in the
room,
1
Mr. Fraser-Smith-Who is the petitioning creditor?
The Chairman-The gentleman on your left, Mr. Skeels-You mean me I deny it.
Mr. Rekyk The Hongkong Trading Co, are not pressing creditors; they are most friendly creditors. if they had not been so friendly the Company would have been wound up long ago, Mr. Skeela hope. the reporters will take note of that.
Mr. Fraser-Smith-Then I ask you again, who is the pressing creditor?
The Chairman They are all pressing. Mr. Fraser-Smith again rose to speak but was toterrupted by the Chairman.
The Chairman-I must bring the matter to order. You propose a resolution that the meet-
seconded, and on the so-called amendment being put to the meating five held up their hands in it favnar, ten voting for the motion to adjourn,
While Mr. Cheung Kai was having a féls-a- rete with other Chinese shareholders, the following conversation pasted between the Chairman and Mr. Fraser-S
r-Smith.
comes in,
Mr. Fraser-Smith--l decline to accept that form of seconding. He has not stood up. He has not formally seconded. He merely says "charter more better" (Loud laughter, and con- fusion).
The Chairman-The resolution is before the meeting respecting the issue of debentures.
Mr. Fraser-Smith I beg your pardon. You're just corrected me; you insisted it was an amend- ment.
The Chairman should say the amendment respecting the winding up of the Company. The question is, will you carry the amendment to wind up the Company?
sense. You are hot in order. Please take note Mr. Fraser-Smith-I protest, against this non- of my emphatic protest that you are not moving an amendment. It is the original resolution.
The Chairman (to the Secretary)-Flease note that, Mr. Secretary.
Mr. Harms was then understood to second the so-called amendment.
The Chairman, continuing the business of the meeting, said I ask you, gentlemen, to sigally your opinion by a show of hands.
Mr. Fraser-Smith Will you kindly explain my proposition first—my amendment ?
The Chairman-Mr. Fraser-Smith has pro posed an adjournment sins dis detalled accounts of the Company's affairs. Mr. Fraser-Smith-To get you to forward the (Hear, hear).
Mr. Fraser-SmithHave you any alternative proposition to propose?
The Chairman-None whatever. The destruc- tion of the Company lies at your door, Mr. Fraser-Smith.
J
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build too light. Same shafts de, of course, becomes the corroded element. When it break through bad forgings, and others is wished to stay corrosion by taking from fatigua; the material, ef which the shaft advantage of this electrical fact, the method, na is composed is subjected to such extrema hard I stated previously, should be to employ tinc. work that it becomes crystallized to such This will, if sufficient quantity be used, give good an extent that its vitality is exhausted, wadn | resulis ; but sometimes too much is expected, its failure may be expected at any moment." -fram sår four to six platea in a boiler of about Mr. Fraser-Smith—We can't wait all night, Mr. | ́A great improvement has been made by the | twenty-five to thirty tons. If four times this Chairman.
introduction of bulit crank-shasts, but still we quantity were used, at first, and supplemented The Chairman-Allow me to conduct this have instances of them giving way; also by the from time to time as it was rendered ineffective, meeting, sir.
use of white metal in main-bearings and crank, it would be found that corrosion would be pre- Mr. Fraser-Smith--If this coercion of Chinese plu journals, as the shafts then run smoothly, and vented. Fitting is much more difficult to deal with, Directors continues, we shall know where it all with less friction and tendency to beating and from my own experience of electrogens, Steamers can be driven at full speed for any se paleated, they are, the most effective The Chairman The proposal has now beenlength of time without having any water on the both with pitting and general corrosion, seconded by Mr. Cheung Kai
bearing, and that could not be done with had the pleasure of being associated with shafts working in gun metal. The beating of a Mr. J. B. Hannay, the well-known chemist, the crank-pin, or main-bearing next the crank, has faventor and patentee of electrogens, I made the effect of damaging the material of the shaft, the first electrogens, and the first trials of them generally at the fillets, or in the angles of the in the bollers of the steamship, Grecian, one of cranks. When the outer surface of the fron gets a line of steamers I was connected with, hot, cold water, at eften a very low temperature, with most satisfactory results. The electrogen is suddenly poured on, and the metal previously is a ball of zinc, with a copper bar through expanded is suddenly contracted, and on repeti the middle as a conductor; a copper, wire tion of this treatment, flaws show of so serious as fastened at each end of the copper bar, character that the shaft has either to be cod. the other end of the wire being secured to the fron demned, or if not seen too, ollen gives out at sea where most convenient. Cleasing the surface The gun-metal bushes are also broken from the and soldering firmly was adopted at first, but I same cause. Of course many shafts have been was found that the wires carried away when the condemned through original faulty construction bollers were cleaned in port, so another plan, that a flexibla crank-shaft, is infinitely superior and proved more successful. So long as that or inferior material. From experience I think Etting a small pin into a tapped hole, was tried to the shafts now in use; that is to say, it contact remained perfect there was a contingeas would allow itself to slightly bend or unbend la electric current on the surface of Iren irregular bearings, without a tendency to break, exposed, and the pitting entirely ceased. It cannot be expected that the bearings should None, but the very best quality of cylinder oils wear equally, as all the conditions are unfaves should be used, as, there is nothing that starts able to that end. The forward webs of each pitting in marine boilers, so readily as the crank in this flexible shaft would be bushed ingredients used in making up cheap lubricating with brass and lined with white metal, the oil. The reason that electrogens are not more in crank pin to work, loose on the same principle general use is owing, firstly to the expense, and as the shafting-filted-in-paddle steamers ; this secondly to the extra attention required to the- would increase the cost of crank-shafts, but fixing of wires, but if shipowners were aware of that would soon be made up by the facilit the benefit of their use they would adopt this in finding out at once at what end of the method, which lengthens the file of a boller and of by the present expensive way of disconnect wear. I am also of opinion that when repairs be crank-shaft brasses were wearing down, instead saves a large expense under the head of tear and ing shafing to find out if the shafting is in true come necessary, they should be done in the most The Chairman-Please vote on Mr. Fraser.line; it would also add to the lives of crank thorough and completo manuel, and not by Smith's original motion to adjourn sine die. shafts, compared with those at present in use metely, covering or patching up defects that The result was that to vated in favour of the Propeller shafts are also a very expensive afterwards show themselves, and cost far more adjournment and 5 against it. The Chairman item to shipowners set like crank-shafts from money to shipowners than is at all necessary. thereupon declared his amendment lost and Mr. break-ing so much, as from badly fitted This le fact that cannot be disputed and to Fraser-Smith's motion carried.
propellers, and corrosion, where the shaffl which shipowners can testify where they exposed between the liners in the stern tube have and efficient supervision, the ships have The greatest care should always be given to proved most economical, not only for repairs the proper fitting of the propeller on taper, but in large saving in coal and stores, when water gets into the propeller-bosa, comosios This is due a great deal to alterations and im- is set up at ence from the action of saltwater provements made in the working parts that and brass liners, which often deteriorates the designers cannot foresce, and are only discovered shaft, and reduces it in diameter to such by actual practice. Modern steam engines and an extent that it becomes unserviceable, bollers, like other important Inventions, have. A vessel breaks or damages her propeller fat shown a gradual development from comparatively The Chairman-A petition will probably besta: she is hurried into dry dock, the spare simple and rude appliances to the highly-finished
propeller rarely fits properly, and sufficient, time and complex machines of the present day. is frequently not given to have the work so carefully executed as this vital part demands the commos results being a loose propeller The Chairman-In the alternative there is and a shaft that is promptly condemned, another resolution to be proposed. The first Again, all propeller-shafts should be lined with resolution having been lost I propose now that brass throughout, to protect them, from the s the Directors be authorised to wind up the Com-water Inside the stern tube, as by the water pany voluntarily.
force and corrosion, which goes on to such an extent that propellershafts have gives way inside the stern tube, breaking the latter and damaging the hull to an extant that has even caused the foundering of the steamer The most circumspect supervision should always be exercised by engineers to see that a Mr A. Bain in the course of his remarku salā free circulation is supplied for lubricating the he did not quite agree with the paper that shaft, a the liners will wear much longer, and had been read. With respect to electrogens ha also the lignum vila la 'the stern bearings,hought they were too expensive, and he had by attention to this most important point found slac plates to answer all purposes with adopted lately is to bevel the inner adges of the Another very simple method that has been good results, d brass liners, where the centre of the shaft is body of water that remained when the edges exposed, which has the effect of stopping the of the liners were left at right angles to the shaft. It allows the water to find way along the shaft, giving a free circulation and, in my opinion, effectively reduces the Thesis that goes on at that part of the shaft The propeller-bou should always be re-cessed ful fit made, so that it may be jointed thoroughly the diameter of the outer brass sleeve, and a care water-tight. A good fitting India-rubber ring makes a very good joint, and the neglect of this most important part of the fitting will allow corrode the taper on shaft, as well as the key water to pass along the key-way, and thereby Many propeller-shafts have had their outer ends renewed from this case. To bora hele all up the recess with allow is a very good preventive.. Thrust earings also cause large amount of trouble and expense, and in my opinion as part of the propelling machinery has been so much Beglected. The latest form, the horse-shoo Pattern, is a step in the sight direction, but soma makara do not fit rings or blocks so that they can. be adjusted or lined up to work well, and thess are continuously giving trouble. With thrust rings of this new pattern, with sufficient bearing surface but tight-atting is black, had not requiring adjusting screws, the rings could easily be reversed instead of lining up at once, causing always the case in moving the thrust block to no anxiety to the engineer in charge, as was
fear of heating. take up west with the old style of bearing for
Mr. Fraser-Smith-Rubbishi We shall soon see all about that, Meanwhile I shall be and otherwise. pleased to assist the shareholders, financially
Ji
prestated in Court to-morrow,
Mr. Fraser-Staith-I will take care of that. If necessary I shall have counsel in court to-
morow to look after our interests.
Mr. Fraser-Smith--The meeting has been adjourned sine dia and nothing further is legal (hear hear).
Admidst loud laughter and general confusion the meeting then adjourned sine dia. ·
THE INSTITUTION OF
ENGINEERS AND SHIPBUILDERS
OF HONGKONG.
A well-attended meeting of the members of the above institution was held fast evening (16th inst.) Repairs to the Machinery and Bollers of at their rooms, Praya Central, when a paper on Modern Steamships" was read by Mr. J. W. Boyd, M.I.M.E. The Fresident, Mr. D. Gilles, occupied the chair, and said he was pleased to see so many members picaent. Mr. Boyd would read a paper which he felt sure would be interesting to all of them, and he had great pleasure in calling upon him to do so.
ing be adjourned sine dir, and to that I propose an amendment that the resolution passed at the extraordinary general meeting on the 29th
Mr. Boyd said-In venturing to bring before
·January, to authorise the issue of debentures ́in
you a paper on this subject, I do so with very the terms of the Chairman's sistement and to
great diffidence, distrusting my own power to charter the Company's vessel, be now confirmed. deal adequately with it I shall, however, be Some discussion ensued as to which was the abundantly satisfied with my efforts if I succeed Amendment and which the original resolution, in stimulating engineers to look at what I regard as its practical points of interest, based on my but the Chairman decided that the motion for adjournment having been made, first it was the experience. Though the commercial aspect pailginal resolution, while Mr. Fraser-Smith of this subject is much too Important to be maintained that it was merely an amendment to ignored, I purpose confjelag myself simply to the practical points which will be of more interest to the special resolution for which the meeting was called..
you. It is perhaps desirable, at the outset, to give some classification, and in doing this, I will divide them into two classes of repairi
of
"As this subject is a very broad one, I bave contented myself with pointing out a few of the most important repairs found necessary-those which cause most expense to shipowner and the greatest trouble to marine engineers and trust I have been fortunate enough to convey in a practical manner a few leading and useful facts which have come under not only my own observation. but that of other members of this Instituta. (Lord applause.)
i,
The Chairman fuvited members to make any remarks they might think proper, and he was auto the speakers would be listened to with pleasure.
Mr. G. Peebles complimented Mr. Boyd on the interesting paper he had read to them, and young engineers who wished to rise in their recommended that it be taken to heart by all profession (suplause).
Mr.John Mitchell said he was unfortunats enough to arrive too late to hear the whole of the paper, but by what he had heard he thongat Mr. Bordas rather down on the designers. He did not consider that just," because many seeing their work, whereas if they had they could designers had soldom the opportunity of agala no doubt remedy the defects which others found to exist.
1
Masms. Gillies, Kew, and Gillanders also spoke of his experience of electrogens in the spoke and Mr. Boyd briefly replied and again steamer Gracian, maintaining that they were to superior to sing plates and that the reason they
were not more in general use was owing to their expense and the difficulty or attention of fixing the wires of surpas
The Chairman proposed a hearty vols of thanks to Mr. Boyd for his interesting paper, which was carried with loud applauses
Mr. Walker proposed a vote of thanks to Mr. Gilles for presiding, which was carried.
and a copy circulated amongst each of the mome Mr. Mitchell proposed that the paper be printed bers, and that a bound copy be kept in the library of the Institute
The Chairman seconded the proposition, which was carried unanimously.
The proceedings then terminated,
THE SHANGHAI CONSULATE-
GENERALSHIP va
The N. C. Daily News of the raih inst, "has
MMrja Nicholas
formerly of
tubes, and the re-rivetting and caulking of sexms), the following ore PANTELE 931ean e
promise of payment by the holders, and the have been printed and circulated, and meetings Compady is not insolven responsible. The or from some defect that could not have in the engines, design may; bo keld partlyil:Shanghai,; and ɑnow.'Judge, of the British Court
The Chairman-Ican only repeat that accounts
have been-called.
pmount due in assured, and I believe will be paid. Judgments have been obtalued against
Mr. Fraser-Smith-But they have not been defaulting creditors for a large portion of the legally held ? There is difference between 68,633, but for various reasons these cannot be calling a meeting and holding a meeting. Have enforced. The number of registered shareholders
the accounts been duly proposed and passed?. at present is az, holding 10,080 shares and The Chairman-No, if that is the answer you representing a capital of $49,200. The fablities want. of the Company at present are: Amount Mr. Frater-Smith--I wish it to be understood collected-on 10,000 shares, $49,200; sundry that I am not antagonistic to the Directors in outstanding creditors, about $15,000 total,
any ways' I simply wish to elucidate as far
4
Mr. Fraser-Smith asked how much was required to meet the preasing liabilities.
The Chairman said nothing short of $15.000 amely, wear and tear, and repairs rendered necessary by faulty construction or bad material. would be of any use whatever, and asked at. Under the head of wear and tear would come Fraser-Smith if he would guarantee that amount.
all the repairs necessary by friction of moving Mr. Fraser-Smith—No; why should I? The Chairman-It is imperativethis resolution parts, as cylinders, platons side-valves and te issue debentures should be passed to-day and faces, platon-rods, valve rods, glands, bearings, not to-morrow; therefore it rests with the share pumps, pump chambers, and also by the attrition passing Hulds, such as steam-pipes water holders to decide whether this motion that the meeting be adjourned should be passed or not.
pipes, cocks, etc. The repairs of lojuries that Mr. Wilkinson (solicitor to the Company)-Ara traceable to stratos, foren a large part petition will be presented to-morrow for the when neglected, and may lead to mecidents involving the most serious consequences of winding up of the Company..
Mr. Fraser-Smith-Since this has become occasioned by stress of weather, racing of course there are, accidental repairs, which are
Among the principal repairs to bollers are the legal question I would recommend every one of you to vote for the adjournment, and we engines (over which engineers have no control), renewals of furnaces, combustion chambers, and will hold those respassible for our money occuring under ordinary working conditions and batts in the bottoms of the bollers. who may be found legally
We want to know
been foreseen. Experience differs very much the timethe hotel was running. Money was taken tear, because of the different types of Ponsible for, excessive; tear, and......wear"%ms da, fúpanj: has been offered the post óf Chief what has been done with the money taken during to the importance in detail of wear
insufficient
* spaces for cleaning, unequal distribusi Judge and Consul-General at Shanghal. As in so fast that it was actually in sortemplation machinery employed, and the varying nature of tion of stays, and the placing af batts and seams usualy an attempt has been made and la still to pay an interim dividend. Let us adjonze sixs the rice upon which steamers are engaged. tu inaccessible places where they cannot be being made to keep the new arrangement and To any end who has been brought much into attended to,' and often when the workmen are the names of the officials who are to succeed Sir dis, gentlemen. It is very unfair to ask us to come here and commit curselves to becomes abundantly evident that engines from tial Job. The greatest attention, should also be Mowat, complete secret but this is a tradition contact with the repairs of steam machinery, it unable, even when building, to make a substan. R. T. Renale, Mr. P. J. Hughes and Mr. RJA. grave policy, an the Chairman wants us to do, without a proper, authentic knowledge of how different makers, doing exactly the same work, given to probable unequal expansion by arzang of the Legation at Peking and the Foreign Offica we really stand financially,
Involve their owners in very much higher of } ing, and sa far as possible, remedies in the form la London Ave better not to make lower expenses for repairs, as the case may of easy corners, the position of man-holes, redt was perhaps The Chairman.It is tiseless our continuing be. This being so, it is manifest that there mostings, etc, should be carefully considered the change ipabile until Mar Bonet $64,2co; which I may point out is $1,500 leas as can details of the management of what taking. Apparently the other gentlemen present must be some radical cause for the prest difference the one to facilitate repairs, cleanis g and Inspec. definitely septed the post. (The Court and than the subscribed capital, and had all calls ought to have been one of the most lucrative don't express their views. I ask some one to in the comparative cost of maintenance between tious, and the other so that joints can asallys beistant judges to be Mr. George's talesou. been paid the Company would now be in com- businesses on a small scale this colony has ever
Mr. Fraser-Smith-You can't propose an
the engines of the various makers. It may be re-made, also the repacking of cocks and glands. Both these appointments will be heartily welcom paratively
The estimated known. If it had been managed with eren easy circumstances.
moderate ability the Marins would now have been
are quite out of order (lond laughter).
workmanship; but from my own experience, 1 zenewal of rivets, paring caulking, and patching, whom the change displaces, and we adhere to was $50,000; while the actual cost of the
am inclined to believe in the first named cause, which continually go on, in semo bollers 11this, our opinion, that the new scheme: han prave: and furniture (material and labour only) has bankruptcy.. We are called here for the purpose The Chairman-I propose the following faulty design means short bearings, badly however, is gradually being reduced owing to the fatit but as it has been decided on, and new been about $46,500 or 83,500 less than the of confirming a special resolution which is said resolation as an amendnicat: "That the charter proportioned pumps and pipes, lesproper arrange greater care which is exercised in the salection officials have to come, we are at liberty to state estimate. The last mecting authorised the
to have been pissed on the 29th of January,
be confirmed. Directors to accept an offer to charter the vessel,
Had you a quorum on that occasion) I want an
Mr. Fraser-Stalth-I hope no shareholder willment of working parts, unsound or defective of materials and in attention during construct par opinion that no two mord satisfactory be stupid enough to second that (laughter). forgings or castingo, and Inattention in select to the more general tee of dried soles, and appointments could have been made, f without the launch, and part of the furniture, auswer; yes or no?
fog the most suitable material, for each discontinuance of drifted hales, i. Tasse, with the|kkra never ¿bom izmere popular, and justly for Canton for a term of two years, terminable by
The Chairman I warn you, on the responsible class of work the engine has to perform mechanical appliances som lause by nearly ali popular residents heetham Mr. and Mrs, either party at the end of first three months, at
Mr and Mrs. advice of our solicitor, and the knowledge I have consideration of these causes naturally leads | buliders, tend to, the productional Error Hannonḍand thelastandsad to have them: arental of Biço per month, Three months rent
The Chairman-Has anyone any further myself, that if this resolution in not confirmed to the question-What are the best means of bollers, Corrosion, salak way be considered as Jamiesos and tale were to be paid each quarter in advance,anda sum remarks?
to-day, to-morrow & petition will be presented, reducing this wear and tear! I should asys the most serious dificulty, both the
backtrainen grasswill do much to console of money deposited equal to the value of moveable Mr. Fraser-Smith-Well, we want to know and in all probability, granted, to wind up the langer stroke, an increase of guide and bearing and those in charge of marine bollen have to go for the plows of these leave us on furniture left on the vessely the charterer to
Company, Such being the circumstances I hope what we are going to do. You had a quorum at all expenses but Insurance. This offer, although the meeting held on the 29th January ; why did
the amendment will be passed. If it is not surfaces, having regard to the different pressures, experience, It causes expense, delay trouble their arrival, and for the defects of the scheme made at the time in good faith, cannot be said you not bring forward your accounts then ? It is
passed it is not the fault of the Directors,i.
mere consideration given to the facilities for and danger, and decreases the efficiency of the that brings them. There will be a general while in motion, 1 by boiler, as reduction of if entire or part, that: Mr. Hannes will accept the position, now to be a firm offer, owing to the delay a most extraordinary thing I am het cassing Mr. Fraser-Smith-Your proposal has not anticipating what will be required loloan be renewal of the parts affected, cancrally follow and scatter sound him that the notion
even been seconded! (renewed laughter). - in accepting it, but there is reason to believe, any imputations. I do not say the Directors
steamer arrives in port.
I would say that the | severo pitting or corrosion, već To a prevent; he has done wò will be received with universal if the Company's Hinbliities are met, that this effer have not done their duty, or that they have not A farcical attempt was made by the Chairman renewal of crank-shafta is one of the heaviest corrosion many methods, have been tried, but satisfaction only tempered by the regret we will be repeated, and possibly on more favourable done it efficiently, but it is an extraordinary to induce. Mr. Cheang Kal, one of the Directors, items in a steamship's repairs; therefore the I think that slac, either in slabs or electros shall feelinthitid: departure of the grasant terms, and I am besides at present negocinting for thing that a public company should be in opers to second the resolution, and along conversation greatest attention should be paid to the trus gans, have merita of, their own, that cannet Chief Judge, Consul General, and.. Assistant a charter in Hongkong on termisthat I think will | tion for nine months and not'a single statement in Chinese took place between him and the other line of shafting while the vessel is la port, be disputed by the majority of enginess, fudge, and the disappointment that wo prove favorable. We estimate to realize by the be put before the shareholders; that the
Chinese shareholders, Mr. Fraser-Smith and To
we canot others keeping up a tonning commentary. At
practical marine cagineers there is no There are two ways of stopping this corrosion: but experience, that Mt. Alabaster, now Consul wale of the launch, sorplus furniture and stores, | accounts should not be, vérified in any way, or
wonder that a crank-shaft should fall through one by rendering the water non-exdilog, and et Canton, le not to come back here as Consul and a portion of unprid calls. fo.coo: by balance any information to how the concern fast. Mr. Cheòng Kal was understand to second being, unduly, bent or strained when bearing! electricity, which is that when, two:matila Forales Office has matured, that even the all- the other by taking advantage of a fact observað. | General: 50 strange is the achemd which the of cash required to pay creditors and cost oflarplug has been worked. We have a right the motion, but fr. Fraser-Smith insisted on his get out of line with each other, or when unequal. the Debentures, 86,000; total $15,500. There to that information before we say, this ship standing op and saying he did so, upon which wear takes place, and when the hall of the vessel of dissimilar characters are immersed in Pezas cemarks editorially, on the ith fastant, fore what is immediately required in a sum of shall be sent to Canton or before we allow the Mr. Chenas Kal stood up and said. I think alters its shaps through the action of the sea or liquid, capable of chemically acting on one or that kinned but think that the Dally Niwi $6,000, and as there are 212 fully paid up share. Chief Justice to say we are bankrupt. If that is charter more better (applause and laughter), unequal diffribution of cargo, often intensified both of them, and are at its time time con has becul altelerated 369/0 2x Mo holders, one share each of $ so will provide all the | necessary I shall support it, but. I have scen no
Mr. Fraser-Smith said that was not seconding funds necessary to make up the 80,000, for which statement of accounts. I see nothing so justify - the amendesent at sil. Finally Mr. Harm the flexibility and spring nature of the balls nocted together by means of a metallic connect
Ekamselyos, which the tendency of the age is 10„tion, that metal which is most notediron,
second the amendment,
amendment.
cost of the Hotel and furniture as per prospectus Rourishing instead of being on the verge at first, You You must put my amendment faulty design, inferior materials, or unskilled To bad, workianship may be attributed itke; ed in Shanghaiz » We shall all regret the offeini-
pay
The Chairman-Yes. Mr. Fraser-Smith-Well,
Alsip-owner
There
FRAFEM-SMIT!