THE PRESENT CRISIS IN THE SHARE MARKET.
From the China Gazelle we take the follow- ing:
We have repeatedly drawn attention recently to the mania for share speculation, which has been sapping the energies of this growing place and bringing tuin to crowds of small specula- tors and demoralisation to older and therefore presumably wiser men. In spite of our protests and the sound advice which doubtless has been privately tendered to all concerned by those who through 'weight of years and length of residence are entitled to a hearing, things have| gone from bad to worse, until we are now face to face, with a condition of affairs which is viewed by ali "sound-money men" with the utmost concern.
.1
The great and generally artificial inflation of prices, which took place during the spring of last year, was followed by a slight set- back in the summer and autumn, but the 'strength of the local
"ARBITRAGE HOUSES,"
forced for their own protection to maintain rates, succeeding in postponing any serious trouble for the time being and enabled people to "carry over" till the spring of this year. In April it became known that longkong had unleaded on to Shanghai immense blocks of Indo-Chinas at high prices, and it was felt that if the Colony could be caught "short" on this "bear" operation, the stock concerned would soar upwards and drag with it the other over- tired favourites and so restore things generally. A loose local syndicate was therefore organized having for object the "taking up" of any Indos thrown on the local market, it being argued that longkang would thus be forced to buy back atwhatever price Shanghai chose to dictate. The skillful financiers of the southern port were, how ever, equal to the occasion. Private agents were at work at once in Shanghai and slowly but surely
A LEAKAGE BEGAN
which in the end was to prove the undoing of Shanghai. Ominous rumours; too, have since been afloat that there has been a double ganic going on all along. Anyway Hongkong has "seen" Shanghai horribly and there is weeping
in Israel and elsewhere.
Thus we come to June to find that the market ring breaks definitely and the debacle has begun. The June settlement - was thrown into disorder by a number of failures directly and indirectly caused by the Indo-China slump and July opened omiously for all. The huge -unwieldy "ball", account for July waited uneasily for the Dock dividend ant when it was announced, and disappointed, gambling expectations, all rushed to sell, Forced sales
· following a drop of over fifty points is now seen in this stock, few can meet their differences, and despair is visible everywhere.
It is estimated that
SHANGIJAL HAS LOST TO HONGKONG
by, the present "slump" considerably over a million taels in hard cash, and that of this sum the members of the Sharebrokers' Association have, through broken contracts, elc, lost some thing like three lakhs, which shows that share- gambling is not all cakes and ale even for the brokers many of whom are hard hit, though they will doubtless recover.
THE HONGKONG TELEGRAPH, SATURDAY, JULY 26, 1902.
tions of brokers on "secret profits made-by- Agants," etc., etc.
This will have more effact than a hundred articles, and we quote as a precedent the fact that the Colonial Office in London recently
issued a similar warning to the public on West African Gold Mines and their dangers. We trust that His Majesty's Consul-General will see his way to act on our suggestion. It is urgently needed, and once warned young men must act for themselves and take the conso- 'quences of their folly.
SICKNESS AND TRADE ON THE CHINA COAST.
UNSATISFACTORY OUTLOOK.
China parts owing to prevalent epidemics and Trade secins to be getting in abad way in the
other causes. One Shanghai paper, the Daily
the China Coast, that trade is becoming, quite Press, says there is so much sickness all along
paralysed.
Newchwang says there is very much sickness The same paper continues -A letter from
there, and the Russians are carrying out so cilled preventive measures in a most objection. able manner. On quite trivial grounds, such as mere ill-looking clothes or dirty faces, Chinese matsheds, and medicine is thrown into them. are arrested and rushed into the "sanitary"
The Chinese report that many natives who were in fair health have been made ill 'and have died ander Russian maltreatment.
Some of the principal merchants are going away from the part for two or three months, HONGS WILL PRACTICALLY CEASE RUSINESS, which means that so many
except of a trifling hand-to-mouth description.
that there is a heavy discount on local exchan
Trade is so bad and confidence so shaken
there is almost no trade at all, because of the re with Shanghai. 'In Tientsin it is the same,
sickness, and 100 Tientsin taels only equal 921 Shanghai taels, though it ought to be the other way about. Chefoo also is in a bad way for similar reasons.
floods and the high price of rice have been a The Yangtse parts are not much better. The heavy drain on the people, leaving them no money to buy piece goods, etc, etc. Goods Previously ordered on contract the Chinese cannot take up, godowns are full, and cannot Kef emptied, and trade is badly disorganised
SUSPEND ORDERS.
A
Intimations.
TUBORG BEER.
FIRST Class
PILSENER BEER guaranteed free from. Salicylic Acid, and any other Chemicals.
PRICE $10 per case of 48 bottles (quarts.) Special Prices for Quantities,
Sola Agents
SIEMSSEN & co.
[595d
Hangkang, 29th May, 1002
HONGKONG SUBSCRIPTION LIBRARY.
18, Bank Buildings, Wyndham Street. FOUNDED in 1891, by DR. CANTLIE,
and conducted for several years by H.E. POLLOCK, ESQ., K.C.
TRUSTEES:
HON. J. H. STEWART LOCKHART, C.M.G, G. B. DODWELL, ESQ., R. SHEWAN, ESQ.
SUBSCRIPTIONS-Payable in Advance,
$7.50.....
|
$1.45....
от
l'er Half Year,
Per Month..
The Library contains, in addition to Fiction, a number of Standard Works on Biography, History, Travels, &c., and Works of Reference; and it is hoped to maintain it up to date.
Intending Subscribers are requested to apply to
CAPTAIN SPENCER, Hon. Secretary and Treasurer,
Ordnance Office. Hongkong, 28th December, 1901,
NEW VICTORIA HOTEL,
[14130
ROTISSERIE, Meals a la Carte. "HOPS, STEAKS, etc., etc., at any time,
between 7.30 a.m. and ti p.m. Monthly Tiffin at Modorate Rates.
Intimations.
WREXHAM
LAGER BEFER
ATA
REXHA
BEER COND
EXPORT
PILSENER
REGISTERED LABEL
Mails.
NIPPON YUSEN KAISHA
(THE JAPAN MAIL STEAMSHIP COMPANY).
H. Christiansen.......
HAKATA MARU...............
F. L. Sommer
SAILING DATES.
4 P.M..
FRIDAY, 1st August, at
Daylight:
PROJECTED SAILINGS FROM HONGKONG.-SUBJECT TO ALTERATION.
STEAMERS.
TOSA MARU.
DESTINATIONS. (VICTORIA, B.C. and SEATTLE,“
U.S.A., VIA SHANGHAI, MOJI, KORE TUESDAY, 29th July, at and YOKOHAMA
KOBE and YOKOHAMA
(SYDNEY and MELBOURNE, VIA? SATURDAY, 2nd August, at
THURSDAY ISLANDS Noon.
(VICTORIA, B.C. and SEATTLE MONDAY, 11th August, at
U.S.A., VIA SILANGHAI, MOJI, KOBE and YOKOHAMA
nsat t*2853%
* Through Passenger Tickets and Bills of Lading issued for the Principal Cities in the United States, Canada and Europe, in connection with the GREAT NORTHERN RAILWAY and Atlantic Steamers.
For further Information as to Freight, Passage, Sailings, &c., apply at the Company's Local Branch Office at Prince's Building, 1st Floor, Chater Road.
YAWATA MARU,
A. E. Moses
KAGA MARU✶
J. W. Ekstrand
SOLE AGENTS:
RITCHIE
& Co.,
1675d
Hongkong, 25th July, 1902.
Des Voeux Road. Hongkong. 24th June, 100%
NOTICE.
Madar & Farmer, THE SECOND VOLUME of BOX'S EX
Proprietors.
[958c
Hongkong, and September, 1901. GREEN ISLAND CEMENT COMPANY, LIMITED.
PORTLAND CEMENT.
$6.50 Cask of 375 5. Net ex Factory. $3,50 Bag of 250 hs.
SHEWAN, TOMES & CO., General Managers. Hongkong, 15th March, rooz.
110
DROZ & Co.,
WATCH MANUFACTURERS, STEAM FACTORY, ESTABLISHED 1864. ST. IMIER, SWITZERLAND."
contemporary says) an urgency, meeting of In consequence of these circumstances (our principal Chinese merchants was held yesterday (July reth) at one of the hongs on North Sonchow Road, when an agreement was made to suspend orders for further importation of LEVER of stock can be worked off, or at any rate gonds until the present excessive accumulations
materially decreased Local prices for some lines of imported goods are actually 25 per cent. below prices in Europe for the same goods, and even at such sacrifices there are no buyers. It is not encouraging to import $1,000 worth of goods for which even at $750 a pur·· chaser cannot be found..
CHEATING THE OCTROI.
We have dealt so with the material facts
CURIOUS MUSEUM OF FRAUDS IN PARIS, of the case; now for moral. The blame for all There is a museum of frauds in Paris which this gambling for it is nothing less than pure contains every imaginable article that has been gambling undoubtedly lies largely with the designed by the wit of man to cheat the octroi. more unscrupulous class of 'brokers, who, to' There are, for instance, books and umbrellas learn their half per cent, will do business with specially hollowed to contain cigars; blocks of all and sundry. The young, clerk, who on
stone, marble chimney-pieces, millstones, Tls. 200
a month, with 指馆 oriental and even, hollowed out as receptacles for spirits. extravagant air, buys a 103 Docka and a couple One of the oddest expedients for muni- of hundred indes on time contracts (invalid in
cipal smuggling is a funeral wreath, in the
which, behind the leaves symbolising woe, was of the law) is undoubtedly committing placed a long, thin coil of tobacco. This eyes a misdemeanour and is A DANGEROUS FACTOR TO ANY COMMUNITY, unique institution is housed near the Hôtel de but we contend that the broker who "accepts Ville, and it just received an addition to its his name "jand so places facilities in his way is treasures in the shape of a cart with a false. by far the greater culprit. The "punter" is bottom, which passed in and out of Faris too often a guileless youth, who having per.several times a day conveying ip its secret haps made money in this way once, greedily receptacle large quantities of oil, which is an longs to make more, and so plunges into the vortex which finally drags him down. He is a victim rather than a culprit, a pigeon to be plucked, and if it is true that attempts are being made to get youngsters into trouble, who have merely been fools, we trust that the authorities will sternly set their faces against any attempts of this sort, till the hard faced professionals that are the cause and originators of much of this trouble' are shown that they must-reap the whirlwind. We understand that the courteous representative of our gallant Gaelic neighbours has already taken this course and we beartily congratulate him on his view of the question. It has often been our lot to rail at our own consular and judicial authorities and to criticles them adversely, but this is but betour, national characteristic. We know full well that if they sometimes fail in small things, as all we poor mortals do frequently, they have the virtues of justice and a fitting sense of making the
37%
article subject to a tax. There is a project to throw the museum open to the public, and no doubt the intending smuggler would find it very useful. It would prevent him from unintentionally copying other people's ideas, and would be more practicable than a search. through the Patent Office.
THE WORD OF HONOUR
The men who do as they any; the things that prove, to be what they were said to be-how: cheering it is to come upon them. We all f hate to be deceived; especially when the decep- tion is intentional. But all men are not liars, even if David did say so in his buste. If they wese society would be impossibile. Everybody knows that business is based on credit, on faith. Millions are bought daily on nothing more solid than the pledged promises of men,
not written, meraly verbal: The Stock Ex- changes are often called nests of gamblers, yet nowhere is a promiss held in greater honour. Therefore when we say that the tried and effective modern remedy called "Wampole's Preparation" never deceives any who resort to to be believed. For this assurance is givan on it in hope of benefit and cure, we may expect what it has done in the past in countless cases, on its record. It is only recom- accomplish. Its action in Chlorosis, Anemia, mended to accomplish what it was made.to La Grippe, General Debility. Throat and Lung Troubles, Blood Impurities, etc. is convincing. It is palatable as honey and contains the nutri Dil, extracted by us from fresh cod livers, tive and curative properties of Pure Cod Liver combined with the Compound Syrup of Hypophosphites and the Extracts of Malt and Wild Cherry, Dr. Austin D. Irving, of Canada, says: I have used it in cases where cod liver.
"PUNISHMENT FIT THE CRIME" firmly implanted in their breasts, and that if attempts are made to ruin the rising generation by a too strict reading of the letter of the law, they will go a step further and look beneath the surface. It is their duty to try to stop the gambling manis in Shanghai and they can do it if they wish. These are strong words of ours, and we utter them with a full sense of our responsibility. We have our duty to do and though we often err, in the long run it is truth alone which finds a final resting-place in our columns. We would therefore respect fully suggest to H.B.M.'s Consul General that she shall cause to be printed and circulated oil was indicated but could not be taken by the amongst all British subjects resident in Shang-patient, and the results following were very hai a precis by the Crown Advocate of the gratifying." It is effective, from sensitive and Laws and Statutes of England op
SHARE-GAMBLING
with the paing and penalties attached, and a special footnote for the benent of fature genera Co
OTTAM & CO, FOR SUMMER
UNDERWEAR
nervous stomachs. It cannot deceive or dis appoint you, and comes to the rescue of those treatment. It stands for the medical triumphs who have received no benefit from any other of the age. Sold by all chemists hora,
GREAT SPECIALTY COFERE: GIKAULT: for RED, WHITE, BLUE,
}
RE
SPECIALITIES:
WATCH & CHRONOGRAPHS,
TRADE MARKS: MAXIM, BERNA, &c.
EPAIRS of WATCHES and CLOCKS by competent European experts at Moderate Rate.
No. 10, QUEEN'S ROAD CENTRAL.. Hongkong, 15th May, 1001.
LEVY DIAMOND
15260
SANG MOW,
DEALER IN Rattan Furniture, Bamboo Blinds and Matting of All Colours,
No. 45, Queen's Road, Central, Price Lists On Application, Orders Executed Promptly. H'kong, 12th May, 1902. [541d
HERMANOS.
MERCHANTS, JEWEL. LERS AND WATCHMAKERS.
EASTMAN'S
KODAKS and FILMS. "OMEGA" is the best, "THREE YEARS
Sele Agents for OMEGA" WATCHES."
guarantee given to every purchaser.
40, QUEENS ROAD,
Watson's Fuilding,
231
NOTICE..
THE BEST PREVENTIVE OF ALL INFECTIOUS DISEASES.
SANITARY SOFT
SOAP,
J
JEY
EYES FLUID
DISINFECTANT
SOAP.
AVOID ALL RISK OF OUTBREAK BY
ITS USE.
W. G. HUMPHREYS & Co., Bank Buildings: Hanekone, ath. March sign,
MEE CHEUNG,
PHOTOGRAPHER, TOP FLOOR OF ICE HOUSE, IK.
Ice-House Road.
「な
S now in a position, in his Now and Com ALL PHOTOGRAPHIC ART PRACTICED modious Premises, to eclipse, as heretofore, in the Colony or in any part of the Far East.
GROUPS AND VIEWS
· a speciality. Hongkong, azad Sentemhor, 1868.
[45
CHANGE TABLES with Rates in 1/16ths from 1/10 15/16 down to 1/8, is now on Sale at THE "HONGKONG TELEGRAPH of 100, from £999 down to £1. and from 19/11 OFFICE These Tabies, which run in columns down to id or from S999 down to 1 cent, enable the user to arrive at the value in Dollars of any sum in Sterling under 1,000 by simply adding, the equivalent of the Shillings and Pence to that of the Pounds; or to get the value in Sterling of any Sum of Dollars and Cents under $1,000 by adding the equivalent of the Cents to that of the Dollars. By these simple means of computation a very considerablesaving of time and trouble, besides security a ready, means of proving accuracy is secured, as is illustrated in the following examples. To reduce £379,17.11 into Dollars at Exchange 1/10 1/16-
£879. 0.0=
17.17,
59.551.926 9.745
$9,571,671
COMPAGNIE DES MESSADERIES MARITIMES.
PAQUEBOTS-POSTE FRANCAIS.
NOTICE.
STEAM FOR COLOMBO, PONDICHERRY, MADRAS, SAIGON, SINGAPORE, BATAVIA,
CALCUTTA, DJIBOUTI, EGYPT, MARSEILLES, MEDITERRANEAN AND BLACK SEA PORTS, LONDON, HAVRE, BORDEAUX; PORTS OF BRAZIL AND RIVER PLATE.
ALSO
ON MONDAY, the 28th July, 1902, at ANNAM, Captain Selfier, with Mails, P.. the Company's Steamship
Passengers, Specie and Cargo,, will leave this Port for MARSEILLES, via Ports of Call,. WITHOUT TRANSHIPMENT.
Cargo and Specia will be registered for Lon- whereas with the other exchange books the transit through Marseilles for the principal don as well as for Marseilles, and accepted in process would be as follows:-
£800. o. 0=
70.0.0.m
9. 0. 0.
17.0.****
$8,702.550
761.473 97.904
9.247
0.497
$9,571,671
places of Europe.
Shipping Orders will be granted till Noon, Cargo will be received on board until 4 p. Specie and Parcels until 3 P.M., on the 27th instant (Parcels are not to be sent on board; they must be left at the Agency's Office.) Con tents and Value of Packages are required.
For further Particulars, apply at the Com-
G. DE CHAMPEAUX, Agent. Hongkong, 15th July, 1952.
or to reconvent the dollars into sterling at the pany's Office.
same rate of exchange:---
$9,000,000 £827. 6.10, 8 571.000 52. 9, 9.11 .571==== 3.2.13
879.17.11.00
but by other books it would be: $9,000,000== £847, 6.10. 8
500.000=
70,000
1,000—
600
45.19. 3. 4
6. 8. 8. 6
1.10. I
70-
I
I. 1. 3.
I. 9
879.17.11.00
Every care has been taken in compiling these Tables to insure their accuracy and even as the book was being printed the last impression. of each sheet was taken and carefuly rechecked by two separate persons and any little errors in reading which will crop up in such works as these are carefully corrected in each copy before it is issued, thus making it a most accurate and useful book. Price for this and the previous volume, $to per copy. Hongkong, 30th April, 1902.
[172d
F. BLACKHEAD & CO., SHIP-CHANDLERS, SAILMAKERS, COAL AND PROVISION MER- CHANTS, NAVAL CONTRACTORS AND GENERAL COMMISSION
AGENTS,
PRAYA CENTRAL HONGKONG, SOAP MANUFACTURERS.
SOLE AGENTS FOR
4 P.M.
ז'
A. S. MIHARA,
Manager,
[5.
RIENTAL
STE
THE PENINSULAR AND ORIENTAL STEAM NAVIGATION COMPANY.
STRAITS, CEYLON, AUSTRALIA, INDIA, STEAM FOR ADEN, EGYPT, MEDITERRANEAN PORTS, PLYMOUTH AND (Through Bills of Lading issued for BATAVIA, LONDON.
PERSIAN GULF, CONTINENTAL and AMERICAN PORTS.)
THE
HE Steamship
Captain. A. G. Cubitt, RN.R., carrying His "VALETTA," Majesty's Mails, will be despatched from this for BOMBAY, on SATURDAY, the 2nd August, at Noon, taking Passengers and Cargo for the above Ports.
Silk and Valuables, all Cargo for France, and Tea for London (under arrangement) wil be transhipped at Colombo into a steamer proceeding direct to Marseilles and London other Cargo for London, &c., will be conveyed vid Bombay with Transhipment.
Parcels will be received at this Office until 4 [1004c. the day before sailing. The Contents and
Value of all Packages are required.
NORTHERN PACIFIC STEAMSHIP COMPANY.
PROPOSED SAILINGS FROM HONGKONG,
VIA SHANGHAI, INLAND SEA OF JAPAN, KOBE AND YOKOHAMA,
FOR VICTORIA, BC, AND TACOMA, IN CONNECTION WITH NORTHERN PACIFIC RAILWAY Co.
Steamers. Captains.
Proposed Sailings.
Duke of Fife... S. Cox.... 3,831 Aug. Victoria Tacoma
J. Panton 3,502 Aug. 9 ....... A. Dixon...... 2,8ir Aug. 23 Glenogle G. E. Wameri 3,750 Sept. 20 THE attention of Passengers is directed to the very cheap rates offered by this Line to the PACIFIC COAST and to the INTERIOR and EASTERN CITIES of the UNITED STATES and to EUROPE,
HONGKONG TO LONDON £52. Excellent accommodation. First-class-Table, DOCTOR and STEWARDESS Carried. Passengers to EUROPE may proceed by one of the first class ATLANTIC MAIL LINES.
HONGKONG TO NEW YORK £48. The Railroad travelling is second to none on
HARTMANNSIONEREDEMAND the American Continent two transcontinental
LT
BRAND, HARTMANN'S GREY PAINT, DAIMLER'S PATENT MOTOR LAUNCHES, &c.
&C
Sole Agents for· FERGUSON'S SPECIAL CREAM and
P.&O. SPECIAL LIQUER SCOTCH WHISKY, &c. EVERY KIND OF SHIP'S STORES AND REQUISITES ALWAYS IN STOCK 4T
REASONABLE Hongkong, rath May, 1806,
UNTOUCHED BY HAND.
PRICES. ·
MELLIN'S
For INFANTS
FOOD
and
INVALIDS-
When prepared is similar to Breast MIIK,
FOOD WORKS PECKHAR, LONDON, ENGLAND,
trains daily from TACOMA DINING Car is attached to trans-continental trains day and night1 TACOMA to NEW YORK in 4 days. Magnificent Scenery of the ROCKY and CASCADE MOUNTAINS, The YELLOWSTONE NATIONAL PARK route.
HONGKONG TO VICTORIA, TACOMA £35.
The best route to the KLONDYKE GOLD FIELDS. Frequent Sallings from VICTORIA, TACOMA to DVEA and ST, MICHAEL
Rates of Passage to other Points on applica- tion.
Special rates allowed to members of Govern ment Services,
For further Information as to Passage or *Freight, apply ta
the terms and conditions of the Company's Shippers are particularly requested to nets
Bills of Lading.
For further Particulars, apply to
E. A HEWETT,
Superintendent. "Hongkong, 21st July, 1007
Notices of Firms.
NOTICE
THE Partnership heretofore existing be TH
tween Messrs. R. E. Tord, H. H. READ and A. C. S. MANNERS in This Day dissolved by mutual consent. The business will be carried on in future under the Style or Name of TOEG & READ,
TOEG, READ & MANNERS, Hongkong, 19th July, 1902,
17684
OSAKA SHOSEN KAISHA.
THE Undersigned have been Appointed AGENTS for this Company in CANTON. REUTER, BROCKELMANN & CO. Hongkong, 21st July, 1902.
(767d
NOTICE.
TE have This Day been appointed WE AGENTS of the MANCHESTER ASSURANCE COMPANY and are prepared to accept RISKS at Current Rates.
ALEX ROSS & Co. Hongkong, 1st July, 1903.
To be Let.
TO LET.
Log4d
TOUSES in CLIFTON GARDENS, Cox. HDUIT ROAD.
GODOWNS A BLUE BUILDINGS, HOUSES at CAUSEWAY BAY, facing the
Polo Ground.
A HOUSE in RIFON TERRACE, No. 11, MACDONNELL ROAD.
Apply to
THE HONGKONG LAND INVEST. MENT & AGENCY CO., LD. Hongkong, 12th June, 2003.
TO LET.
DODWELL & CO., LIMITED, OFFICES in HOUSE STREET.
General Agents.
Hongkong, 24th July, 10oz.
f3
REGULAR STEAMSHIP SERVICE
TO NEW YORK,
VIA FORTS AND SUEZ CANAL (With Liberty to call at PHILIPPINE PORTS). PROPOSED SAILINGS FROM HONGKONG
ATHOLL"
"LENNOX".
"HEATHBURN'
"RICHMOND CASTLE
to
AFRIDI
About 5th Aug
14th Aug
21st Aug
7th Sept.
20th Sept
HILLGLEN" mojamamdan 30th Sept. For Freight and farther Information, apply
DODWELL, & Co. LIMITED Hongkong, #4th July, 100%;
Agents.
issed
in Ground Floor of DEB VIEUX For Particulars, apply to
THE MEDICAL HALL,
70, Queen's Road Central. Hongkong, 4th March, 1902,
fagyd
TO. LET.
THIRTEEN EUROPEAN HOUSES
Nos. 20, 24, 26, 28, 30, 32, 34, 45, 44, 40,- 48, 50 and 56, LEIGHTON HILL ROAD. Apply tamang n
THE HONGKONG & KOWLOON No. 8, Queen's Road West,
LAND & LOAN CO., LD, Hongkong, 29th April, 1902,"
TAL LOONG.
and 3, Lyndhurst Terrace,
[#24d
TOR Fancy Muslins and Piques, Flowerad Delaine, Ladies" and Children's Shoes, New Chiffon Haumean
Hongheng, art May, 201