TELEGRAMS.
HONGKONG TELEGRAPH”
SERVICE.
From Our Own Caverionident,)
Opium for China.
BOMBAY, 17th December. The P. & O. 9. N. Company's mail steamer left. Bombay this after noon with about 450 chests of Malwa opium. The quotations for superior drug are:-
Malwa News, 1,150,
Ol
Ollest...
1,230. 1,300.
THE HONGKONG TELEGRAPH, THURSDAY, DECEMBER 18, 1902.
THE EWO COTTON SPINNING AND WEAVLIG CO., LTD,
REPORT
For presentation at the seventh ordinary meeting to be held at the office of the general -managers on December 19th, 1903, at 3.30 p.in. The general managers submit a statement of accounts to 31st October, 1902, showing the result of twelve months' working to that date.
During the early part of the year under review lo al spun yaras were in good request and even on the then comparatively high price of China cotton it was possible to effect sales that showed a moderate margin of profit. As the year progressed the position was adversely affected by the substantial advance in the price of cution while concurrently depressed markets throughout the country caused a stagnation in demand which eventually resulted in the sate of production at a loss.
AN IMPENDING SUGAR WAR.
posts would follow the example of forming the last mail papers, and gives precisely the Colonial Associations of some kind. What form account personal conviction long since sug- the movement would take rested with the gested. I am glad to see. in black and white meeting to decide. He did not intend to make from such a reliable source a confirmation of any suggestion, but would war them against the assertions 1 have repeatedly made you. I going too fast. Whatever was done he was pre-hope Dr. Morrison's telegrams will be duly read pared to see carried through thick and thin, hut and digested in the House. he advised great caution at the commencement, and hoped it was not intended to make a big display at the outset. Then there was the question of eligibility or membership, That was a point they would find very difficult. Many influential gentlemen, not born in the Colonies, but who had been associated with them for long periods, bad asked would it be possible for them to become members. Undoubtedly the meeting was called primarily for Colonial, and it was for them to decide whether such gentlemen should be admitted. They had a good gathering present, and he hoped the main points would be thoroughly thrashed out before they dispersed.
After a long and animated discussion as to
(By sprcial arrange went with "Der is als 94,336.29 and the debit of profit and whether it would be better to form a club or
Ostasiatische Lloyd," )
Venezuelan Blockade Postponed.
PTLY PARTICIPATING.
BERLIN, 17th Dec,, 1902,
7.26 p.. The blockade at Venezuela has been postponed for a few days. Arbitration is asked for only by Venezuela, but not recommended by America. Haly will take part in the blockiul.
Russia and Macedonia.. The Russian Minister, Count Lambsdorf, will visit Belguud, Sofia
The balance at credit of working account
loss account is now reduced to taels 4,219.88. During the year the sum of mels 16,179.06 has been expended on renewals and repairs, and the machinery, as well as the buildings, are in good condition.
CONSULTING COMMITEE.
On his departure for Europe, Mr. John Pren- tice resigned his sent on the Committee and Mr. P. F. Lavers was invited to fill the vacancy.
In accordance with Article XVII the members
retire, but are all eligible and offer themselves for re-election, AUDITOR.
Nothing could be more opportune than the fight which is now on between the refiners of imported sugar and the manufacturers of American beet sugar. Incidentally it will show that no trust can control a market which is profitable to other people, and the more profitable it is the surer to invite competition But the main importance of a contest at this time lies in the fact tbat public attention will be so effectually directed to the sugar question that it will be considered on its real merits. So far as we have oßserved; this has not been done by any public speaker and by no
political journal outside the sugar-heet states.
It has been treated altogether as a question
| an association, it was resolved, on the motion | of Mr. L. E. P. Jones, seconded by Mr. Turn
bull, that those present form an Association, hetween two rival trusts, or the equivalent of which was, on anoilier resolution, named the trusts, and when come: beet-sugar manu the Association of British Colonials in the Farfacturers were found to concede that they would probably continue to manufacture beci- sugar even if 20 per est reduction of duties were made on Cuban "sugar, it was insisted in high quarters that "no harm would be done to an American industry" by thus favouring Cuban sugar.
Dast.
The discussion on qualification for member. ship evoked many divergent views, and motions and amendments reached such numbers that the Chairman suggested an adjournment of business to permit of an informal discussion. This having been done, úpon resuming it was ultimately decided to accept the proposal of Mr. Wingrove kas audited the company's Mr. L. E. P. Jones, seconded by Mr. Manwar accounts and his re-election to the positioning: That only those born of British or naturalised British parents in the British De- pendencies, or those who have, in the opinion of a Committee to be elected by the members, sufficiently identified themselves with the British Colonial Enspire by residence or other wise, shall be eligible for membership; election
requires the confirmation of the shareholders.
JARDUE, MATHES •N• & C«,
General Managers. Shanghai, and December, 1902.
Statement of Accñunts 31st October, 1902. LIABILITIES.
Tls.
and Vienna to confer with the respec-Capital-Author sel 17 500 Shares tive -Governments with regard to Macedonia.
(Ruler's)
Venezuela.
Loxpox. December 16th:
A German unofficial statement says that the Venezuelan vessels sunk by the German warships were so unseaworthy that they would have hampered the movements of the allied fleet.
It is understood that the arbitration pro- posal is strongly endorsed by the United States.
Hon. John Hay, United States Secretary of State, has informed Germany that the blockade of Venezuelan parts should not apply to American ships, and that the United States disapproves of the stoppage of ships generally, quoting the precedent of the peace- ful blockade of Crete in 1896.
Italy is participating in the blockade.
The Fducation Bill.
The Education Bill has passed the House
.. of lords.
LATER.
The Marseilles Strikes.
at fls. 100 each Ts, 1,750, 00: subscribed 15,000 shares at Tls. 100 each.........
Jardine, Matheson & Co...........
Accounts Payable Uncollected Dividends
Sundry Creditos
Tls..
Property Puildings Plant..... Water-supply Furniture....... Mill Stores Coal Cotton Stock
ASSETS.
Cotton and Yato in process Yain Stock ......
Accounts Receivable...
Hongkong and Shanghai Bank Cask with Compradore Advances against Seed Cotton...... Profit and Loss Account
to be decided by ballot."
:.
Now, the facts are that beet-sugar manufac- turers, allowing for all risks and for the cost of educating the farmers to raise beets, are get- ing much more than their just share, of the profits of producing beet sugar. The farmers are struggling to get more of the profits by enforcing higher prices for beets. The pro- posed reduction on Cuban sugar would absolutely put an end to this prospect. The first question, then, is: Shail or shall not the farmers be permitted to profit by the one The objects of the Association, it was decided, chance which has ever come to them of were to fall under the three headings of promo-sharing in the profit of developing a protected tion of acquaintance with fellow Colonials, industry? To Increase the Cuban competition 1,500,00 7,00 so ial intercourse, and the assistance of those is to say that they shall not have that change.
But this is not all, nor the worst, The 337,000 00 Colonials less fortunately circumstanced than 146,207,20 || the members
Michigan manufacturers have declared that if they have to stand the cut which increased Cuban competition would compel they_will_ close their factories, and the farmers have re- solved that if the price of beets is reduced they will raise no beats. As a matter of fact, beets
196.co Upon the motion of Mr. Manwaring, second- __848.37_ed_by_Air Turnbull, Dr. Moore-Graham was unanimously and with acclamation elected 1,684,051.57 President of the Association, while Messrs. 'Tls. Turnbull and Manwaring were elected Hon, 135.669.85 Treasurers respectively. These gentlemen 380,883.73 having accepted their offices, a Cmmittee of 993,526.75 seven, to net with the three officers as exofficio members was then ciccted as follows:-Messrs L. E. P. Jones, J. Wattic, J. Keenan, K. H. 1,058.22 Mulley, J. D. Bentley, E. E. Parsons, and 486.31 Captain Mahon; and it was decided that the Committee should also form the Balloting 90,666.52 38,509.50 Committee for the ensuing year, Mr. L. E. P. 85,390.56 Jones being elected Vice-I'resident.
29.220.81 3.443-37
NAVAL NOTES,
H. M. S. Talbot returned frem Canton yester day.
U. S. S. New Orleans let for Manila yester day.
To-day's Advertisements.
5
THEATRE ROYAL
Mr. W. REUL.
H. M.S. Cressy went out for a cruise yester- day. :
Lessee and Manager H.M. S. Eclipse, which left for Mrs Day Representative.Mr. ARTHUR SEYMOUR. yesterday, will return on Saturday morning, She will remain here for Christmas. Canton on the 21st inst.
B. M. S. Phoenix is expected to return from WJANET WALDORF
Last Night of the magnificent production of
THE WEATHER.
The following report is from Mr. F. G. Figg, Acting Director of the Hongkong Obser vatory:---
On the 18th at 11.25 am. The depression is passing to the Pacific to the N. of Japan.
It is followed by a highpressure area, and the barometer has risen rapidly over N. China, Chinn, and gradients are rather steep-
Pressure is relatively low off the S. coast of
Very strong monsoon, which will reach gale | force in the Formosa Channel is setting down
the China cost.
Forecast ;---strong NE. winds ; dulį, rainy,
Commercial,
TO-DAY'S INTELLIGENCE,
BANKS continue firm with sales at $665 and $662.50. Small sales have been made in HONGKONG, CANTON & MAÇÃO STEAMBOATS at $36. Sales effected in INDO CHINAS at 586, CHINA SUCALS have been placed at $85 and $85.50. Few sales have been made in Hong KONG DOCKS at $212.50. Sinall sales have again been made of HONGKONG LANDS at $185 to $185.50. CHINA PROVIDENTS are weak with sellers at $9.90. There are small buyers of HONGKONG ELECTRICS at $13 and $650. STAR FERRIES are wanted at $23 and
13.
EXCHANGE.
LONDON, Telegraphic Transfer.........1/74
Bank Bills, on demand...1/7 5/16" Credits, 4 months' sight...1/7 11/16 D'nicats, 4 months' sight 1/7 13/16 IN BERLIN, (demand).................M.1.643 N Paris, Bank Bills, on demand .........2.02
__Credits, 4 months!_sight_.......2.06. N NEW YORK, Bank Bills, on demand...39
Credits, 30 days' sight...
IN BOMBAY, Telegraphic Transfer
On lemand....ïustinen in Shanghai, Telegraphic Tr nster
Private 30 days' sight
..120) -75 dom. .28% prem. ..STZ.30 .64460
OPIUM QUOTATIONS. To-day's quotations are as follows
MALWA NEW
OLD PATNA NEW
could not be had in any quantity at lower in YOKOHAMA, T............ prices than are now paid, and for the present Sovereigns, Bank's Baying Rate... those factories which are built would continue inld Leaf 100 inuch, per tael to produce segar and to pay-present prices for-Bar Silver beels. But it costs money to buit sugar factories, and the first years, while farmers are being coaxed to produce beels and taught how to do it, are not profitable to factories. It is therefore morally certain that if the country once enters on the policy of surrender- ing our sugar markets to Cuba, few or no new factories, will be built and that conse quently American farmers, except where factories are now built, will never get the chance to produce sugar for their own markets. It is therefore not a question between two
Unexpired Fire Insurance premia, 10,763,07 The subscription having been fixed at $2 per Kats and Taxes......
300.44 year, and the entrance fee at $5, the business 77,907.36 of the meeting was brought to a close with a vote of thanks to the Chairman, who insisted 544.03 982.76 upon all drinking prosperity to the new 16,957.38 Association, which was done with great 4,215.88 enthusiasm. The names of 43 gentlemen were
trusts, but between American farmers and both received by the Hon. Secretary as candidates trusis. It would be perfectly easy for the refin- 1,834,951-57 for membership, and the natives of the Coming trust to absorb all existing beet-sugar fac- monwealth of Australia having decided to give tories, and if the Cuban sugar were favoured a dinner to flicir fellow Colonials on Cam- they would do it within a year. They would Tis.
monwealth Day, 1st January, the gathering be set to making raw sugar for the refineries, 13.638 72dispersed,~~N.C.D. Nètys.
and the dream of producing our own sugar 23.748.47
would end. With matters as they are, capital 19,376.97
will enter the sugar-beet business, its com- petition will raise the prices of bects, and all concerned will make money for some years, after which domestic competition will regulate prices forever.
Tis....
PROFIT AND„EDSS ACCOUNT.
Dr.
The strikes at Marseilles have collapsed To Ba'ance from last year..............
owing to the other unions deserting the Inscrits Maritime.
The Duke of Connaught's Tour.
The Duke and Duchess of Connaught have left Suez for India.
Venezuela.
The British and German Governments have decided that if further coercion is
Interest
+
Fire Insurance.......
Pates and Taxes
1,8 261
Repairs and Renewals............................
16.279.06
375000 250,0
Duectors' Fees
Anitors Fees ......
Tiausfer Fees...
Cr.
necessary, they will blockade the Venezuelan ry Balance of Warking Account ports. It is not intended to land a British force, and still less to occupy Venezuelan territory.
(Shanghai Mercury.) The P. & O. Meeting.
CHANGE OF PORTE
LONDON, 12th Dec. Sir Thomas Sutherland, Chairman of the P. & O. Courpany, at the annual meeting of that Company held to-day, announced that it
• had been decided that when the new steamers were ready the mail service would be concen- trated at Tilberg, thy cargo vessels remaining, as at present, at the Royal Albert Docks,
* Trans-Continental Railway in
Australia.
The Government of South Australia has called for tenders for the construction of a railway from Adelaide to Port Daryin.
The Northern Port.
SIX STEAMERS LEAVING,
TIENISIN, 13th December. -Six of Butterfield and Swire's steamers are now leaving here and Taku, with full cargoes for Shanghai and Canton.
(Shanghai Times.) Capital Subscribed, for Canada- South Africa Line.
LONDON, Dec. 11.
4. Balance
Tis. ... 94.3.36.29 59.00 4,205 88 TIs............ 98,611.17
TIENTSIN DAY BY DAY.
(From Our Own Corrispond.nt.)
TIESTSIN, December 4th. » General Managers' Commission..... 19,705.34
Cold at last, and the first hesitating sprinkle Totals.. .....8,611.17 | of snow In Peking one hears that the ground s covered footdeep; but here only yesterday, the 3rd, the ladies were playing hockey in thin blouses, while others sat round watching them, a genial windless calon making one feel as if hristmas was sull somewhere in the an- tipodes. To-day a strong north-west wind has been shouting in a threatening manier to the steamers at the Bund to clear for the season, and it is highly probable, that few, if any more, will risk; the trip up at this date.
Nothing of any moment is happening. Things seem uncommonly dull both in Chinese and foreign circles. The Court is still at the Summer Palace, and would rem in there till the New Year, only the minor officials complain - so much at having to make the daily journey that the E. D. is relenting and intends sacrificing her own wishes for
E.&O.E. Shanghai, 25th November, 1972. 1 have examined the Books and Vouchers kept by the General Managers and find the above statement of accounts in accordance therewith,
GEORGE R. WINGROVE,
Auditor.
JARDINE, Matheson & Co.,
General Managers.
BRITISH COLONIAL;
ASSOCIATION
FORMED AT SHANGHAI,
A meeting of British Colonials was held at Shanghai last Saturday to discuss the pro- position to form an Association or Club. There were altogether about 45 gentlemen present, and the Chair was occupied by Dr. Moore- Graham, upon, whose proposition Mr. W. J. Turnbull was elected on. Secretary to the meeting.
their benefit.
A long Edict has just been issued. about would-be officials taking a course at the Peking University before going to the Ilaulin College, | and appointments being awarded according to the distinction with which they have, passed their exams; but all this is more or less familiar and one cannot get rid of the impression that it is more or less "look see. However, time will
show.
A few more men in the "Government service like Shen Tun-ho would speedily make China a different place. He is a very agreeable man
- PRICE OF SUGAR ADVANCING. The agreement of the international sugar conference at Brussels for the entire abolition of escort bounties on sugar require:l'ratification by nearly all the signatory countries in order to become effective. It has not yet been unnouncediliat the necessary number of ratifica- tions have been received, but it seems to be universally conceded that the agreement will become effective, according to its terms, for th crop of 1923, and business is adjusting itself to the change. This year's European crop is about Loco,000 tons less than that of 1901, and a further reduction of acreage is expected next year, unless the removal of internal taxes shall in crease the hoine markets in the countries where sugar for consumption ja highly taxed. It is understood that this will be the case, and the result of removing the bounties will he a reduce tion in the price of sugar to consumers in pro- ducing countries, and a rise in the price for expirt, which has been kept below cost of pro- duction by bounties paid by high internal taxa tíop::
An. En fish sugar broker estimates that the abolition of the bounties will raise the price of raw sugar in all neutral markets by about one-half a cent a pound. This is considered certain because bect sugar cannot be produced for the price at which it is now sold for export in European markets. This, of course, will raise the price of Cuban sogar and give it an The Chairman said that the idea of forming
outlet in Great Britain, which will render Cuba some kind of institution to represent Colonial to meet and impresses one with a sense of sub-more independent of our markets and make it interests had first been mooted at an informal stantial honesty, which is as pleasant as it is impossible for the refining trust to arouse our sentimentalists with its harrowing tales of the meeting held abrut a fortnight previously, rare in this country, when he had been asked to take the Chair at The mint, here is nearly ready for work miseries of poor Cuba."-The Cuban relief" As an offset to the Morgan ship combi e the present meeting. He was proud to accept and the cent. copper coinage will be bill in the last Congress proposed to reduce project to establish a steunship line to South the invitation to preside at such a gathering started very shortly, it is said. Some enter the duties on Cuban sugar by 20 per cent. Aftica, the Chronicle learns that Montrealand—a gathering of Colonials. When he had prising official in Pekingis trying to The Average duty collected on Cuban sugar is Ottawa capital has been subscribed for an come out to the Far East, some twenty years ago raise the wind in favour of a gold currency for said to be à cents a poun", of which 20 per cent. opposition line for cargo. Canadian plans look there were very few Colonia's indeed to be met hina. But until some idea of the sacredness would be three-tenths of a cent a pound. This, to large, South African trade which would with, but within the past few years they bad of monetary tokens creeps into the Celestial it was said, would enable Cuban planters to ordinarily undergo transhipment at London or pread themselves over the globe, and had mind one is to hoe the fates will not belive But if the planters could exist with less Breed Slater viene direct outlet in the islestified themselves especially with the Far tempted by any fresh facial express our one meter om rest of us in United States. The new company proposes East. He was pleased to see such a represent De Morrison, the talented Times cores our markets they can certainly thrive and “to provide for passengers should the initial alive nttendance, and hoped something practi-pondent in Peking, left bere yesterday for the grow fat on an increase of half- a cent a pound offort succeed, and then to extend the service cal would be the outcome, it was very pro-South, and possibly for Australia. His interest- in all other markets, and the plea of. - starving to Australia.
bable that if Shanghai took the lead other ing report on Manchuria has just come out in Cuba will fall to the ground.
·SK ̈ for ASAHI » JAPANESE BEER-
AG. Girault,
OTTAM & CO. FOR PANAMA HATS,
OTTAM CO FOR WASHING
BOW TIES AN
OTTAM & CO FOR
FELT HA
-
41
OLD BENARES NEW PERSIAN (PAPER)..
....
..23
Per chest,
A
D
R
Co. W
"ROMEO and JULIET.
The hit of the season.
Received with the acme of approval.
MISS JANET WALDORF.
The greatest enthusiam. was created by
her magnificent rendition of JULIET.
A triumph of her art.
ROMEO: Mr. Norval MCGREGOR,
In which rola he has become famous throughout America; Australia and the Orient,
FRIDAY and SATURDAY, The funniest of farcical comedies,
FACING THE MUSIC:" Last production of the present season awing to Canton engagements. Tariff and all other Arrangements the same.
Hongkong, 18th December, 190s. (1384d
the
NOTICE.
WING to the large increase in the Cost of Fudder, de, we are obliged to raise PRICE of our MILK to 12 CENTS per small bottle fro 1st January next.
~~THE DAIRY FARM COLD;;
S, A, SETH,
"Secretary
THE HONGKONG DAIRY,
G. W. GEGG,
Manager.
Hongkong, 18th December, 1902.
(1385d
THE BEST-CHRISTMAS PRESENT for
your wife and family is a NEW-YORK: LIFE 2011: CENTURY POLICY which will remove all danger of want or worry from their future...
Apply at-
18, BANK BUILDINGS. Hongkong, sth December, 1902. [1333d
FOR YOKOHAMA AND KOBE HE Steamship.
TH
SILESIA;"
Captain Dahle, will be despatched for the above Ports on SUNDAY, the "zar instant,
Daylight.
This Steamer.has Superior Accommodation for First and Second Class Passengers and carries a Doctor and a Stewardess, For Freight or Passage, apply to
"HAMBURG-AMERIKA LINIE, Hongkong Office. --Hongkong, 18th December, 1902.-.-- . (171d-
FROM HAMBURG, PENANG AND SINGAPORE. “HE HLA.L. Steamship
$1,020/1,040 THE
1,060/1,090
...@ 9871 ..@ 1,000 @ QBs @700/770
To-day's Advertisement.
THOMAS' HOTEL.
NO. 2, QUEEN'S ROAD CENTRAL, HONGKONG.
THIS HOTEL, having changed hands, has Class Foreign Hotel, with rooms en suite and been of a First- single furnished with every regard to perfect comfort and convenience The Hotel, is in very close proximity to the principal Banks and Merchants' Offices.
MODERATE TARIFF” Hongkong, 18th December, 1902.
[1366d
"SILESIA,"
Captain Bahle, having arrived from the above ports, Consignees of Cargo are hereby requested to send in their Bills of Lading for countersignature by the Undersigned and to take immediate delivery of their goods from alongside.
Optional Cargo will be forwarded unless notice to the contrary be given "before 3 P.M. TO DAY, the 18th instant. ・・
Any Cargo impeding her discharge will be landed into the Godowns of the Hongkong and Kowloon Wharf and Godown Co., Limited, and stored at Consignees' risk and expanse.
No Claims will be admitted after the Goods
have left after the 25th instant will be subject to rent.afe undelivered
..
All broken, chafed and damaged Goods are to be left in the Godowns, where they will be examined on the 25th instant, at 3 P.M.-
No Fire Insurance has been effected.
HAMBURG-AMERIKA-LINIE,
Hongkong Office. Hongkong, 18th December, 1902.
THE POPULAR
SCOTCH
IS
"BLACK & WHITE"
JAMES BUCHANAN & GD. SCOTCH WHISKY, DISTILLERS. By Appointment to
H.M. THE KING
and
HRH the PRINCE of WALES
SOLE AGENTS:
LANE CRAWFORD & CO. HONGKONG
[12530
Page 5Page 6