TELEGRAMS.
(Reuters)
Russian Finance.
LONDON, 16th February.
The Russian Government has issued fifty million roubles in credit Notes.
The Russian War Ships on Route
to the Far East. The Russian warships Ostlabya, Aurora, Dimitri Deuski, and a number of torpedo boat-destroyers have been ordered to re- main at Jibutil unții further orders.
The War.
It is stated in St. Petersburg that there is a large movement of Japanese troops covered by cruisers proceeding to the Gulf of Liao- tung with the object of cutting off the Manchurian railway near Port Arthur.
Great Britain and Russia. It is stated in St. Petersburg that General Ivanoff, the Governor of Turkestan, has been instructed to prepare for possible military action in the direction of India in
the event of Great Britain adopting an attitude openly hostile to Russia or at tempting any enterprise in Persia or Thibet prejudicial to Russian interests.
CHINA FIRE INSURANCE CO.
Following is the repon, for presentation to the shareholders at the thirty-fifth ordinary meeting to be held at the company's offices on Thursday, the roth March, 11.30 a.m.-
The directors have now the pleasure to sub- mit their annual report and statement of the company's accounts made up to 31st December
Jast.
1902.
The balance at credit of
working account as
-$263,358.28
per last report was...$267,897.67 Add premiasince received 460.61
Deduct claims paid in 1903 $43,073.97 return premia, &c. 7,41343
59,489.40 Balance of profit ........... $212,868.88
It is proposed to apportion this sum as follows :-
100.25
Dividend of $6 and bonus of $t per
share on 20,000 shares.......$140,000.00 Bonus to contributors of premia ... Addition to extra reserve fund, which will then stand at $125,675.56 as shewn in the annexed balance sheet...
Transfer to investment Auctuation account, to meet difference be-
THE HONGKONG TELEGRAPH FRIDAY, FEBRUARY 19, 1904,
WORKING ACCOUNT, 1st January to 3111 Dicember, 1903.
Dr..
To Charges Account Rent, Salaries, Legal and.
Burveyors Foos, Party Stamps, Directors and. Auditors.
Stationery, &c.
Fecs...............HON
..$33.539-57
7,400.00
To Commission Account — Agents' Commissions ............................ma
To Fire Brigades Account ;- Contributions at Agencies, &c. .....
To Loses Account, IC031-
Claims paid after deduction of Re-
insurances
To Amount written off- Furniture Accoun! ........................... To Balance.....
Cr..
49,939-57 34, to 60
17.48
46.173.55
70.00
..... 329,017.48
$446,458.68
.........$326,636.62
By Premium Account :- Premiums received after deduction
of reinsurances .................. Ry Interest Account → Amount at credit, including interest due on deposits and invest- ments, &c. ....... Amount at credit .............
By Transfer Fee Account :—
119,646.77 175 29
$446.458 68
GEO. L. TOMLIN,
Secretary. the books and securities at the head office, We have examined the above statement with
and have found the same to be correct. The
London Agency Accounts have been included
up to 30th September last.
W. HUTTON POTTS,) Auditors. A. R. LOWE, C. A. S Hongkong, 12th February, 1904.
CORRESPONDENCE.
¿We do not necessarily endorse the opinions expressed by Correspondents in this column.)
HONGKONG BREWERY CO., LTD.
TO THE EDITOR or the "Hasekong Teluurarh,"
SIR,-In your report of the statutory meeting of the Hongkong Brewery En, Ld, held on the 15th inst., the Chairman, Mr. Mueter, is
stated to have said:—
"At the side of and higher up than the level of our property is a dam or reservoir, from which the Company is entitled to draw as much water precisely the same suit- able qulf
which I have already referred)
through a two-inch pipe," &c., &c.
H
It is possible that the general public an reading the above may be led to suppose that the water referred in is supplied from our reservoir to the premises of the Brewery Coy. This is not so. We have entered into no agree- ment with the Brewery Coy. for the supply of $2,915.14 any water from our reservoir and we have no
intention of doing so.-Yours &c.,
tween cost and market value of investments on 31st Dec., 1903. 15,000.00 Write off on sale of rural building
lots Nos. 42 and 84
Bonus to office staff
1,068.49 3,785,00
$212,868.83
1903. The balance at credit of working ac- -count at the close of this year was $329,047-48, shewing a gain of $66,14981 over the pre- vious 12 months, which must be considered satisfactory.
DIRECTORS.
Messrs. D. M. Mo.ee, G. Balloch, R. Shewan and C. Michelau resigned their seats on leaving the Colony and Messrs. E. Shellim, H. W. Slade, C. A. Tomes and A. Haupt were invited to fill the vacancies on the Board. These ap pointments will require the confirmation of
shareholders.
Messrs. A. G. Wood and E. Shellim retire by rotation, and, being eligible, offer them seives for re-election.
AUDITORS.
Messrs. W. Hulton Polts and A Lowe have audited the annexed accounts and offer themselves for re-election,
E. GOETZ.
Chairman.
BALANCE SHEET, 31ST DECEMBER, 1903. Liabilities.
BUTTERFIELD & SW.RE,
General Agents, Taikoo Sugar Refining Co.
Hongkong, 19th February, 1904.
THE CHANCES OF THE BEAR.
SOME DEFECTS OF RUSSIAN CHARACTER WHICH MAKE FOR DEFEAT.
BY A FRIEND OF RUSSIA.
If war begins in the Far East there is one element that is not contained in any of the text books on the subject of the military and naval strength of Russia and Japan, though one of the most potent in determining, victory or defeat. It is the temperament and character of the respective nations.
The history of the South African war shows how the characteristic over-confidence of the British character was responsible for the loss of half the money expended and two thirds of the lives sacrificed. What effect will the Rus. sian temperament and character have on the issue about to be decided in the Far East?
On looking backwards through the pages of history for 200 years it is a remarkable fact that Russia has never been successful in waging war with any white race since Peler the Great defeated the Swedes in the battle of Fultowa in 1709. This being so, the question arises whether the military and naval capacity of the Capital Account... N 400,000.00 japanese is to be estimated by the standard of Reserve Fond... 1,000,00000 Extra Reserve Fund.....75
white men, or whether they are to be regarded 125,6'5.56 Investment Fluctuation Account...
as Asiatics, such as those whom the Russians 2,561.75 Account Payable:-
have repeatedly defeated during their march across Asia in the course of the last 150 years. EVIDENCE OF PEKING.
Dividend for 1502.$14,000.00 Bonus for rooz and
Sundries
***** 20,17564
Working Account, 1903 :-
Balance at Credit.....
As els
Cash at Binkers.........
Fixed Deposits at Banks:- H'kong & Shai Bank-
160,175,64
The answer of this question is supplied by the evidence of British officers present during
• 329047.48 || the advance of various detachments of allied troops to Peking. The evidence is complete $2,047,460.43 that the Japanese were inferior to no nation in courage, discipline and ability, and they were
ing Corp. $140,002.00 Chartered Bankofi,A.
65,000,00
TALEN
& C. Mercantile Bank of
India, Ld.
•
50 000,00
Investments Chinese Imp. Govt E.
Bonds............$ 85,565 69 Hk. & Kion Wh. &
Godowe Co., Ld.. Debentures...... 103,152 50; Hongkong Club De
benturas....... 43400.00
Hongkong Hotel Co,
Ld., Debentures. 10,000.00
S'hai Land Investment
Co, Ld, Deben-
tures LISTELE
Shai Waterworks Co.,
Ld., Debentures...
Shares in Public Com.
On
·49,877.40
8.472.33
panies.......... 132,840.01.
Loans on Mortgage :--
Properties
Hongkong
in
Furniture Account :-
Office Furniture &c. Accounts Receivable
Premia due from Agencias, In
terest duo on Deposits and Investments; &c mome
$ 33,981,52 superior to all, expect the Sikh detachment of the Fritish, in the temperance of their habits and the excellence of their conduct.
It may, therefore, be taken for granted that Japan is to be reckoned with on the European, not on the Asiatic, standard, and that if the adage as to history repenting itself holds good 255,000.00 the Russians are about to undergo a humiliating defeat at the hands of the Japanese which will make them the laughing-stock, not only of the civilised world, but of the A latic empire to which they have set their hands.
173.307.Br
300,00
517,00
If Russia were defeated by Japan, Siberia would set up a cry for home rule. Revolution would break out in the valleys of the Volga, the Dnieper, and the Bug, and the Romanoff dynasty would stand in imminen peril.
The battle of fultowa is the solitary victory carrying with it political territorial aggrandise ment that can be credited to the Russian army during two centuries.
Turkey was ludicrously unsuccessful, for the Russians lost 80,435 men and spent £120,000, 000 sterling on an enterprise 'which brought them next to nothing.
is showing improvement 'in" width and appear auce...
340 Level South, Crosscut to No. 2 Winze.-- An additional 18 ft. has brought the total dis tance to 35 ft.; about 3 ft: more will make the connection,
340 Level North-Here 18: fr. has been driven, the total no v reaching 206 ft. north of the shaft. The lode is 54 in. wide and assaye 3 dwt. Though narrowed to this width, it is quite as strong as before.
RUSSIA'S FAILURE IN WAR, What is the reason of Russia's palpable failure in war and brilliant success in diplo imacy? First of all Russia is worm-eaten with corruption. So far as the army is.com cerned, corruption is not necessarily fatal to victory. Stores that are not up to sample can be utilised at a pinch; half rations can be issued to the soldiers, who, whether paid or not, being under military discipline and at a dis tance from their country, do not desert if on foreign service.
The corruption of Russians in the depart-posed to explore further north on this level to nent of the navy is, however, a very different prove the depth of ore shoots from the 140 story. In the highest quarters the standard of Level, public virtue in Russia is lower than in any country in Europe. Twenty-five years ago the bribery of a Russian Minister was not un-
common,
Kussian Ministers are not in society with the exception of the Foreign Minister. Since 1878 the standard of Ministerial conduct has im- proved. But to-day the Russian bigh officials expect, and even occasionally ask for, a com- miss.on or present in connection with any con. tract or licence granted by their department.
The hall Oriental nature of the Russian is partly displayed by the variety of the devices
are enhanced by the contributions of the by which the incomes of the official class governed. The effect of the general official
corruption is not visible on the surface. Even the grossest abuse of public trust rarely reaches the newspapers.
The consequence, however, of the corruption so prevalent in the Russian service is a deter oration in the executive strength of the ad. ministration, especially in distant parts of the Empire, and it is probable that the comparative failure of Russia in warlike operations during the last zoo years-which is certainly due to no want of courage or of brain power--may be partly attributable to the looseness in financial matters traditional in the Russian services. If this be so in the past, the future antagonist of Russia may fairly reckon on a potent ally in the lapse of Russian officials from the paths of virtue.
240 Level North.--This drive has been cleaned out for restarting, and 4ft. has been. driven, bringing the total distance to 561 ft. north of shaft. The end contains a body of mized slatey matter carrying gold. It is pro.
240 Level North, No. 2 Winze. This work has been vigorously pushed, and sy ft. has been sunk, bringing the aggregate depth to 61 út. Over a face of 41 in., the lode, though very mixed, assays & dwt. per ton. '
Co-ony's Advertisements,
THEATRE
TH
CITY HALL.
ROYAL.
'HE HONGKONG AMATEUR
DRAMATIC CLUB
will give Two Performances of THE COMIC OPERA "HIS EXCELLENCY","
18
Written by W. S. GILBERT, Music composed by Dr, Osmund Cark, TO-NIGHT and TO-MORROW (FRIDAY), 19th FEBRUARY. (SATURDAY), 20th Commencing each Evening at 9 P.. precisely.
Dress Circle
$3 Stalls... Fit Stalls ... Pit
***
AL
I
NO HALF PRICE, 240 Level South, No. 3 Winze.-This has-Tickets can be obtained at the Booking been sunk 20 ft., making a total depth of 52 ft. Office of the Theatre, City Hall. The striking of water has somewhat retarded the work. The footwall branch, on which this winze is being sunk because of its being softer than the hanging wall, assays z dwt, for a width of 50 in.
140 Level North, Drive off No. O winze.-
stoping face, and to leave a substantial pillar This was started during the month to prepare a for the support of ground immediately West of
the shaft on this level; ft. has been driven which suffices for both purposes.
140 Level, x cutting for filling stopes.-128īt. of this work has been done.
140 Level South, Winze from North drive off No. 3 winze.-This has been sunk 12ft, making a total of 2aft The lode, 52 in. wide, assays 12 dwt, and is a good solid body of quartz.
Milling stone is being won from the following slopes:-
Above the 340ft, Level: 2 stopes; lode 76in. wide and worth 6 dwt.
Above the 240ft. Level: 3 stopes ; lade 64in. wide and worth & dwt,
Above the zooft. Level (Intermediale): 3 stopes; Lode 77in. wide and worth 8 dwt.
Above the 14olt. Level North: a stopes; lode 55in, wide and worth 7 dwt,
Booking Office will be opened daily from that date from 10 AM to 4 P.M. after the fall of the curtain.
Late Trams will run a quarter of an hour
flongkong, 19th February, 1904.
ГИВАТВЕ
THE
(172
ROYAL
HENRY DALLAS
MUSICAL COMEDY
COMPANY.
GRAND OPENING NIGHT.
MONDAY, FEBRUARY 22ND.
The Latest London Success,
The Musical Comedy
uo-day's
Advertisements.
HONGKONG HOTEL
DINNER.
TO-MORROW (SATURDAY), 10th February."
MENU.
HORS D'OEUVRES. Shrimp Canapes
-SOUP,
Bird's Nest.
FISH.
Boiled Sauce Diplomate.
ENTREES.
Braised Duckling a la Financiess. Lamb Cutlets a l'Anglaise. Rolled Bacon and Oysters.
CURRY.
Madras.
JOINTS
Roast Ribs,of Beef and Horseradish. Roast Capon and Bread Sauce. Boiled York Ham a la Jardinero.
COLD..
Gelantine of Chicken and Artichoke Salad,
SWEET.
Caramel Pudding, Vanilla Ice Cream and Finger Cake Peach Tart. Tipsy Cake,
DESSERT. COFFEE.
[269
INDO-CHINA STȚ*** NAVIGATION
COMPANY, LIMITED.
FOR SINGAPORE, PENANG AND CALCUTTA. HE Company's Steamship
THE
"HANGSANG,"
Captain Wilde, will be despatched as above on WEDNESDAY, the 24th instant, at Noon.
For Freight or Passage, apply to
JARDINE, MATHESON A Co., General Managers. Hongkong, 19th February, 1904.
INDO-CHINA STEAM NAVIGATION
COMPANY, LIMITED.
FOR MANILA.
Bukit Hitam.-Stopes above the 260 Level, "A CHINESE HONEYMOON." THE Company's Steamship
1; lode 26 in. wide and worth 15 dwt,
General-All work in the lower level of Bukit Koman has been hindered by the exces-
DISHONEST OFFICIALS. Hundreds of cases will assuredly occur on the outbreak of war and the mobilisation of the army and navy, in which the administration will break down solely in consequence of the past dishonesty of the officials. It is not necessive rainfall. This, coupled with the fact that sary in recognising the prevalence of Russian corruption that Englishmen should pharisaically thank God that they are better than those other men. Pepys diary shows that the state of morals of public servants in Russia to-day is identical with that of English officials of the
Stuart era.
In addition to corruption there is the national failing of drunkenness. The Russian to-day ure as drunken as the English were 100 years
ago.
In a naval battle success depends on the efficiency of a chain in which the soundness of
every link is equally important. A drunken engineer in the engine-room of a Russian battleship or the incompetence of a petty officer in charge of a turrer gun may change the fortunes of a fleet action,
Whatever faults are possessed by the Japan. ese, few people have ever sees a drunken Jap. The present writer has witnessed forty or fifty men from the Russian royal yacht lying drunk in the streets of Copenhagen. Corruption and inebriety will leave their mark on the outbreak of war with the Japanese.
Lastly, there is the Oriental tendency to de-
lay. Russia is as bad as Spain in this respect. the bureaucratic system exists not for the efficient performance of the public service, but for the advantage of the official Russia is never ready except in diplomacy.
old workings were carried so near to the than the combined pumps could contend with, surface, occasioned a volume of water greater and necessitated the bailing tanks being brought into use, thus causing delay in all work, and preventing any stone from being raised for some days. All work is now, how- ever, again in full swing.
Plant and machinery have stood the unusual call upon them very well. Arrival of the new electric hoist is expected in a few days. The complete, and such parts of the building as can concrete foundations. for pumping gear are be erected before the machinery, are being proceeded with.
The additicaal cost for the month is entirely accounted for by excessive consumption of fire- on pumps, &c. Our compensation for this is wood and heavy mechanics' wages for overtime that we were able to prevent any damage what- ever being done to mine or machinery. With only three weeks' milling we earned sufficient revenue to cover everyth ng.
Milling Return for four weeks ending 30th Jan. 904
Stamps working: 40.
Period of work: 28 days less lost time 7.31 days (175.44 hours) of which 10 hours 5 min. was due to Sempam.
Ore milled: Konian 2,238 tons.
Hitam 162 tons, total 2,400 tons, M-ll duty: 2.9 tons per stamp per 24 hours. melted gold--28.1%.
Amalgam yield: 2,145 oz. giving 602.9 07.
Bullion yield: 5.02 dwt, per ton milled= 79.3% of contents.
Bullion fineness: 921.35 average. Mercury loss: 3.75 lb. per too tons miled= Tailings: Assays 1.31 dwt. per ton-20.7 % of
3.01 oz. per oz, bullion,
contents."
Remarkt.-Excessive lost time due to short supplies of stone.
When Japan cuts the Siberian railway and Port Arthur and Vladivostock are "Lady. smithed," the defects of Russian organisation will be revealed. Separated from their base, essential stores will be lacking. The feeding of even 50,00 troops will be impossible, and even if the single-track Siberian railway were kept open it would be impossible to supply Wage Ore Raising more than 103,003 troops.-Chinn Gazelle,
COMMERCIAL.
The week's quotations closed as follows:-- Banks...
$635 5. L61 1.don. $ 34 b.
Estimated Cost for 4 weeks ending 30th January, 1994. European Salaries
Developmunt
[Surface
14
TUESDAY, FEBRUARY 23RD,
'A CHINESE HONEYMOON."
46
WEDNESDAY, FEBRUARY 24TH,
AND
THURSDAY, FEBRUARY 25TH,
The Charming Musical Comedy
'THREE LITTLE MAIDS."
FRIDAY, FEBRUARY 16TH,
AND
SATURDAY, FEBRUARY 27TH,
The Sparkling Musical Comedy "THE FRENCH MAID."
PRICES $3, $2 and $1.
PLANS AT
ROBINSON PIANO CO., LD.
W. FLEMING VALLANCE,
Manager,
$4,701, 22
$1,8.73
Timber, fuel and charcoal
Pettis
9,350 Ju 2,594, 19
Sundries Royalty
Store
123.47 1,287. 3.8.0.41
4,255-33 871.300.85
Future pieces will be duly advertised.
Hongkong, 19th February, 1904.
DOUGLAS STEAMSHIP COMPANY, LIMITED.
[266
Cost per ton 9,8754.16 dw1.
Mine development
Nation | Bank Hongkong Fires
Estimate! value of butput $35.74T Expenditure on Capital account
... Stag b.
128.70
China Fires
5 ço) s.
Plant and machinery Buildings
1,200.75
J34.37
H., C. and M. Steamboats $ 28 s. Indo Chinas
New main shaft
1923.6
$535.
$ 24 5.
་·
China Manilas Shells ... China Sugars Docks... Wharves Farnhams Hongkong Lands West Points Hongkong Hotels Green Islands China Borneos... Hongkong Ropes
$ 21 5.
$100 b.
$206 s.
$ 95 b.
Tis. 137
$149
$ 54.
... $146 9.
•
***
$ 25 5.
P
$ 89, $140 {sa.ex div.
{and s.
RAUD REPORT.
The following is the general manager's report to the chairman and directors of the Raub Australian G. M. Ca. for the four weeks end- ing 30th January -
Gentlemen, beg to submit my monthly report on your mining and milling operations. The Russian navy is almost without
out a history. The accompanying sheets of mine measure. Russia in 1796 was unsuccessful in her warments, and assay result of prospecting work, with Persia. She was defeated by France at prepared by the mine manager, show a total of Austerlitz; she was beaten by the Turks in 250 ft. for the period (4 w'ks.) under review, 1809, and vanquished at Smolensko and Boro made up of 59 ft. sinking, 45 ft driving, and dino by the French,
146 fi. crosscutting, as against a total of zo3 ft. for the previous four weeks.
In the Hungarian war Russion assistance given to Austrisa rule, and the Hungarians were defeated by Russia when in alliance with another white Power The Russians were beaten in 1855 in the Crimea. The war with
€4,442.83 C. G. WARNFORD LOCK, General Manager.
TO-DAY'S EXCHANGE.
London-Bank T.T. Do. demand Do:
Selling
4 months' sight France-Bank T.T. America-Bank T.T. Germany-Bank T.T., tadia T.T...{{2}+by+3)
Do. demand...............**** Shanghai-Bank T.T. Japan-Bank T.T.......... Singapore--Bank T.T.... Java--Bank T.T.........
Buying.
4 months' sight L/C, & months' sight LC.......
*
FOR SWATOW.
THE Company's Steamship
"HAILOONG,"
Captain Gibson, will be despatched for the ..1/10 above Port, on SUNDAY, the asst instant, .1/1015/16 at Daylight.
1/13/16
-2:40
1,951
41
1417
71+
94
Nominal
./I 30 days' sight San Francisco & New York 46
do, * months' sight
47#
30 days' sight Sydney and Melbourne.......1/11 6 months sight 4 months sight Francs... 24;
4 months' sight Germany.ELLESIDE Bar Silver.........
Bank of England rate
461
2,00
37 7/16
....4%
OPIUM QUOTATIONS. To-day's quotations are as follows:-
Per chest Malwa New..................C 900/930
Old ..........................@ 960/1,025" Bukit Koman340 Level South-This has fate New
Oldest.........
1,040/1,100 been driven iz ft, making a total of agg
1,240 A.
|- Banares Now The lode is 36 in, wide and assays 3 dwt, but | Pareiga (Paper) „........................
1,240 $50/900
MINES
14
"LOONGSANG,"
271
Captain G. S. Weigall, will be despatched as bove, on WEDNESDAY, the 24th instant, at Noon.
This Steamer has Superior Accommodation for First Class Passengers, and is fitted through- out with Electric Light.
For Freight or Passage apply to
JARDINE, MATHESON & CO.,
General Managers. Hongkong, 19th February, 1904.
Intimation.
THE POPULAR
SCOTCH
IS
"BLACK & WHITE"
JAMES BUCHANAN & CO.
„SCOTCH WHISKY DISTILLERS, By Appointment to
E. M. THE KING
and
HRH the PRINCE of WALES
+
[aya
Supplied at all the LEADING CLUBS. and HOTELS, and to be obtained from LANE, CRAWFORD & CO, Queen's Roap [270 Central
[F
For Freight or Passage, apply to
DOUGLAS, LAPRAIK & Co., General Managers. Hongkong, 19th February, 1504
EYE SIGHT.
MR. N. LAZARUS May be personally consulted for SPECTACLES, No chargo for testing the eyes. Glasses, and frames of all kinda and qualities. Prices from $2 upwards.
16, QUEEN'S ROAD, CENTRAL,
Hongkong, 6th November, 1993.
Page 5Page 6