HONGKONG BENEVOLENT..
SOCIETY.
THE RELIEF OF THE_DISTRESSED.
INTERESTINO LEGISLATION, CONTEMPLATED
8th Inst.
PH SATURDA
THE HONGKONG TELEGRAPH, SATURDAY FEBRUARY 11, 1905.
so great that it had to be taken in hand by a Government Department, he had no doubt it would be so taken.
Sta abould be very materially increased. Hoed whether one in a hundred or even hoped that when that meeting gathered again thousand of the so-called "deserving seamen" at the end of the current year, that the Report who passed through Hongkong were deserving. would show a very greatly increased number of de was sure that no man who guaranteed : $50 The Bishop of Hongkong then moved "that subscribers. The number of cases assisted, a head for the relief of real deserving searmen this meeting approves of the scheme only on showed the good work that had been done, would regard the money as wasted. He he understanding that it is intended as a tem- and as he had said the only reason more good shared Mr. May's belief that the adoption of porary measure adopted for a pariad not ex- had not been accomplished was for want of the resolution would not make for the anceeding one year, in order to give the Govern. money at their disposal.
couragement of “wasters,"
ment time to formulato a permanent scheme
the motion being put to the meeting was carried, for meeting the difficulty,” wh
Bon. Mr. Gershom Stewart seconded, and on thus forming a rider to the original resolution.
The proceedings then terminated.
The annual meeting of the abora Society was held at the City Hall, last evening, Sirths Report and Accounts, and very earnestly His Excellency by his letter had focussed Mr. E. A. Hewett moved the adoption of Hon. Mr. Gershom Stewart thought that Henry S. Berkeley presiding. There were also endorsed all the Chairman had said about ublic opinion on this matter. Twenty or prescot-Mr. F. H. May (President), M. the necessity for an increased number of thirty years ago, a distressed white man on the Atkinson (Vice-President); Mr. J. Hastings subscribers to that worthy Society, (Hoa. Trossurer), Mrs. H. II. Gompers (Hon seamed incredible when they came
It streets of Hongkong was practically unknown. Secretary), Mrs. Badeley, Mrs. Robertson, Mrs. think of it that in a large, and wealthy increased rapidly and with the growing rela- tonder the new conditions of affairs they had Hickling, Mrs. Hoare, Mrs. Feter, Mrs. Siebs, place like Hongkong there were only är sub.ions between the East and the West they Mrs. Swan, Mrs. Gershom Stewart (Committee), scribers to the Benevolent Society. Probably were likely to increase further in the future. Rev. F. T. Johnson, Rev. J. H. France, and Mr. in some cases $12 a year might be too much In these cases of emergency the matter could R.A. Hewett (Reference Committee), Hon. Mc. for many Europeans in Hongkong, and he F. E. May, C.M.G., Hon. Mr. Gershom Stewart, presumed he was right in supposing that the
be arranged in ten minutes They would get RL Rev. Bishop Hoare, Captain A. Milroy, Society would gladly receive donations how.
quarantors without any difficulty. Thus the Messrs. G. W. F. Playfair, Hon. Dr. Atkinson, ever small, and by this means very materially fringe of a very wide question. It seemed to cheme seemed to him to touch only at the WH. Trenchard Davis, F. B. L. Bawley, increase the funds at their disposal. Another him that one man needed as much assistance HJ. Gedge, W. Dixon, G. Piercy, Hon. Mr. E. H. Sharp, x.C., H. H. J. Gompertz, C. A. D. tion of marriages between white women and tressed British seaman was provided for matter he would like to refer to was the ques when he was hungry as another, The din. Melbourne, and others..
The Chairman said that was the fifteenth Chinese, mention being made of a case is the by the Common Law. There was no pro- annual meeting of that most valuable society followed by great destitution and distress, and Report, In many cases these marriages were known as the Benevolent Society of Hongkong it was incumbent upon them to do all in their He would now read the report for the past year, which was as follows:
power to prevent such marriages,
Hon, Hr. F. Hi May seconded, and the mo- tion was unanimously adopted.
The Ladies of the Committee of the Hong Kong Benevolent Society have much pleasure in submitting their annual report and statement of accounts, and in doing so desire to thank all those who have assisted them in carrying on the work of the Society. During the year 17 cases were brought under the consideration of the
The Chairman, on behalf of the Committee, said they would be very grateful for any dona- tion however small. It would be useful
FILLING VACANCIES.
Mrs. Siebs, Mrs, Hickling and Mrs. Piercy Lady Berkeley, Hon. Mrs. Barnes-Lawrence, were elected to fill vacancies on the Committee, several ladies having retired in view of an early
A SCHEME OF RELIEF.
HONGKONG AND SHANGHAI BANKING CORPORATION.
The following is the report of the Court of meeting of shareholders to be held at the City Directors to the ordinary half-yearly general Hall, Hongkong, on Saturday, the 18th February, 1905, at noon.
To the proprietors of the
vision in this schema for distressed lands- relief fund for foreign sailors. Without men. The fund therefore resolved itself into wishing to be uncharitable or to say that charity begins at home, he thought it was out unreasonable in this colony for each nation to be called upon to support its own people when they were in distress. Until they had the de- tails of the legislation spoken of by the Colonial Secretary they were wandering in the dark and it seemed to him that this community bad companies for bringing these men intent. reasonable cause to protest against shipping Colony and the Government for receiving them He anticipated with great pleasure some legis lation against the importation of undesirables. A point which was overlooked in this matter was that the Sailors' Home, which was at premises account the sum of $200,000. sent occupied by respectable man, would run a chance of losing its present high name. HA thought it was quite possible that the Sailors' Home might suffer. There were glaring in this Colony.ny Visiting Justice could tell stances in which foreigners were thrown upon them that there were men of every nationality whom the British taxpayer of this Colony had to his knowledge that an American sailor was to maintain from year to year. It had come
HONGKONG & SHANGHAI BANKING CORPORATION.
Gentlemen, The directors have now to sub- mit to you a general statement of the affairs of the Bank, and balance sheet for the half-year ending 31st December, 1904
The net profits for that period, including $1,497,554.31, balance brought forward from fast account, after paying all charges, deducting interest paid and doe, and making provision for bad and doubtful (accounts, amount to $4,745,544.05.
The directors recommend the transfer of gr,000,000 from the profit and loss account to credit of silver reserve fund, which fund will then stand at $8,000,000.
They also recommend writing off Bank pre.
After making these transfers and deducting remuneration to directors there remains for appropriation $3.539,544.05, out of which the directors recommend the payment of a dividend share, which at 4/6 will absorb $533-333-33 and of one pound and ten shillings starling per a bonus of ens pound sterling per share, which it 4/6 will absorb $355.555-55-
The difference in exchange between 4/6, the rate at which the dividend and bonus are amounts to $1,148,246.42.
The balance of $1,493,408.75 to be carried to new pront and loss account.
DIRECTORS.
Mr. H. E. Tomkins has been elected chair- deputy chairman. man for the year 1905 and Mr. H, A. W. Slade
Mr. N. Ar Biebs retire in rotation, but being Mr. A. J. Raymond, Mr. H. È. Tomkins and eligible for re-election, offer themselves accord ingly.
AUDITORS.
Hutton Potts and Mr. A. G. Wood, who offer The accounts have been audited by Mr. W. themselves for re-election.
A. J. RAYMOND, Chairman,
Hongkong, 7th February, 1905.
l'o Dividend adjustment afc:
Difference in exchange be tween 4/6, the rate at which the dividend and bonus are declared, and t/11 9/16, the rate of the day, Transforta silvarreserve fund, Transfer to Bank premises a/c, Balance forward to next half
na
Cr.
1,148,246.43 1,000,000,00 200,000.00
41
DEPRECIATION AND INSURANCE FUND. December 31st, 1904.
Dr.
To balance..
$600,000.00
Cro
*June 30th, 1904.
By amount at credit....
F600,000,00
1,493.408.75
$4,745,544.03
*
To balance...
"goth June, 1904, $1,492,554.31
By Balance of un divided profits,
My Amount of net
profits for the
six months end-
ing 31st Dec.,' 1904, after mak.. ing provisions for bad and doubtful debts, deducting all exponies and interest paid
and due,......... 3,253,989.74
-$4,745,544.05
To Balance,.........................................$10,000,000.00* By Balance 30th June, 1904, (in.
vested in sterling securities), $to,c00,000.00
SILVER RESERVE FUND. Balance,...$ 8,000,000.00
STERLING EKSERVE FUND..
To
By Balance 30th June, 19045 7,000,000.00
Transfer from profit and loss
account,....20 141999464994 18
A. J. RAYMOND," A. HAUPT, W. J. GRESSON,
C. W. MAY, Chief Accountant. J. R. M. SMITH, Chief Manager.
1,000,000.00
$ 8,000,000.00
Directors.
We have compared the above statement with the books, vouchers and securities of the Head Office, and with the returns from the various
same to be correct.
W. HUTTON POTTS, Auditors. A. G. WOOD, Hongkong, 7th February, rgos.
THE HOngkong, canTON AND MACAO STEAM-BOAT CO., LTD.
Following is the report of the board of directors to the ordinary half-yearly meeting
o'clock, noon- of shareholders to be held at the office of the company, on Tuesday, the 14th inst., at 11
The directors beg to submit to the share holders the report and statement of accounts for the half-year ending 31st December last,
EQUALIZATION OF DIVIDEND FUND.
December 31st, 1904+
Cr..
June 30th, 1904.
..$250,000.00
$250,000.00
By Amount at credit.......................$250,000.00
E. &.O. E.
$250,000.00
Hongkong, 3rd February, 1995,
T. ARNOLD, Secretary.
We have compared the above statement with ibe books, vouchers and securities of the com pany, and certify the same to be correct.
A. O'D, GOURDIN.
W. HUTTON POTTS, {Auditor.
ROYAL NAVAL TEMPERANCE SOCIETY.
took place in St. George's Hall last night at half
8th inst. Under the auspices of the Royal Naval Tem perance Society, a very pleasant social re-union-
past seven o'clock. The function was held not anly to review, but to stimulate, interest in and Miss Weston for the sailors, which has rightly sympathy with, the admirable work done by
earned for her the designation of the "Sailors' friend." There was a very large attendance of local residents, as well as many officers and men from the vessels in harbour. The hall, which had been assigned for the function, bad been placed in the hands of Mr. Campbell, H.M.S. Centurion, for the purpose of decora to, and excellently did he do the work, with from the feet in harbour. At the hour ap the able assistance of a number of signalmen
the
chair, and called upon the Rev. C. H. Hickling to open proceedings which he did by suitable prayers, following by the singing of the well-known hymn, "Oh, rally in your thousands." Mr. H. Gibbs, RN.. out that the efforts being made on behalf of then briefly addressed the assembly, pointing sailors in all the sea-ports of the earth were entirely undenominational, and were for the The men must do their share of the work in benefit of all alike, of whatever colour or creed. farming themselves into bands for unity, for among seamen, whether belonging to the ser mutual assistance towards universal sobriety
and address over a very enjoyable programme vice or to the mercantile marine-The prayers of instrumental and vocal items was rendered.
Committee and assistance was given in 14 cases. Over 60 other cases received relief through the Rev. J. B. France who gives in valuable assistance to the Society by investigat.departure home. ing cases on its behalf and helping them when deserving, Employment was found in the Colony for some of the applicants and passages
The Chairman said they had now before paid for others to various places where they them a proposal by which the Benevolent had friends or promise of employment, It is Society might make themselves still more use. pleasant to be able to record that in several ful. The proposal, in short, was that the cases grateful letters have been subsequently Society might allow itself to be, as it were, an received from some of these persons. Monthly aimoner of certain charitably disposed person allowances have been made in some cases to who desired to relieve the necessities of per poor and deserving people and in one case sons, who, however undesirable, were in the milk and medical comforts have been furnished Colony, and as the report pointed out, it was to a deserving invalid. During the first 9 impossible to prevent coming here. Though months of the year the Society was paying for this of class destitate suffering people were de- the maintenance and education of ten orphan serving of help, the cluss that was most larget lately left here sick and his Consul declined to | declared, and 13. 11 9/168., the rate of the day. branches and agencies, and have found the 'nointed the Rev. M. Mulineux, R.N: took children at a cost of $141.50 a month. As the found was that of the seaman--the sailor. Well, assist him. It seemed to him that the right income from subscriptions a month was only so far as the man who was known to them as thing for the Government was by diplomatic about $50 the Society's funds became very low
means to get consular instructions in this re the "D. B. S. was concerned he was prospect extended. He was perfectly convinced andit became necessary on May 31st to encroach
vided for. The Merchant Shipping Act pro-that there was no man in the world who would upon our Fixed Deposit, to curtail the sum at vided that the Shipping Master of every Mr. France's disposal from $25 a month to S15 British port had to take charge of the ale mare sa zee his countrymen being main- and to issue an urgent appeal for more sub-man, and find him a ship as soon as he could, he walked over the Peak the other day he tained by foreigners than an American, As scribers. The autumn, two of our orphans and in the meantime must provide him with obtained employment in the Colony as nurse board and lodging, the expense being ultimate legacy of some great philanthropist in this saw a magnificent palace being erected, the maids and, as a result of our appeal to the public, ly defrayed by the Imperial Government Colony, and he wondered if that could not a few more monthly subscriptions were obtained through the medium of the Board of Trade, be used in some way. It was a matter of Otherwise we should have had to draw out all There was another person, the foreign sailor, common knowledge that there were funds our Fixed Deposit and should have been in who ought to be looked after by his nationals, for the purpose, provided a recent judgment debt at the end of the year. As it is, writing at but he was not. Well in those cases, where given here had not been appealed against the end of January we have had, during the properly discharged from a British ship, the and set aside. A little time ago the justices month, to draw out our remaining $500 on
British Government looked after him. There recommended that a public-house license bo Fixed Deposit to meet current expenses,
were cases where the Consule did not think declined, but he was sorry to see that the them worthy of help and would not help them.
license was afterwards granted without the Then there was the class of seamen, they justices being consulted. The rejection of this might call wasters, Well, the object of this laudable attempt to reduce temptation was to resolution was to give even these men a chance, men who in a sense did not deserve it,
be regretted. The ord Bishop, Mr. France Well they could not go far wrong in giving any they could to found a Seamen's Rest House and others were also endeavouring to do all man a chance (Applause). And then again there was the criminal class, The funds of the Such institutions ought to merit the entire sup. under the auspices of the Church of England. Benevolent Society would not be encroached upon if the resolution was adopted. What it was
part of the community, askne men who patron ized them were well looked after and the suggested to do was that there should be five or six persons in the community who would be temptation to drink was taken away. He quite willing to get together a certain sum of money agreed that it was a very bad thing for a man and form a sort of Limited Liability Charity the incorrigibles, idlers and vagabonds. He 10 go into the "ouse of Tetention along with Insurance Company, Anybody who liked to join this society, and form a guarantee, would, supported the scheme and was quite prepared it was expected, ask the Benevolent Society to
to be one of the guarantors, but it was in the act as almoner, to pay out so much a week as
hope that legislation would be made to meet the case might be to the Rev. J. H. France, future be able to rejoice under the old maxim the ends in view and that they would in the who would undertake to distribute it properly that prevention is better than cure. If there andto those needing relief. Well, the suggestion was that the guarantee should be limited to
was any country in the world that ought sixty dollars per man, per annum, and any man
to look after its own people it was the able and willing to contribute that sum could United States of America, which had great do so. What they had to discuss that afternoon, resources and the legislators of which were so was whether they would sanction the Bene- much against poverty stricken people getting into their country. This formed a fair basir volent Society becoming the medium of charity in the direction he had indicated. Personally for the request that they look after their own he had a strong objection to the acheme to May practically overshadowed the interests of people (Applause.) This proposal by Mr. commence with, because he thought the Benevolent Society for, looking at the ac was meant to make a charge upon the funds of the Society, but this would not be the case, and all the Society wAB asked to do, was to act as almoner. So that if it should happen to be possible to find a suffi- ciently large number of charitable people to make the scheme a success, they might rely upon the funds being distributed well and efficiently.
counts, there was no doubt that the Society was going down. He thought the managers of the Society should consider very carefully before they took upon their shoulders perman ent charges like the upkeep of pauper children. The Society was formed as an emergency society and he thought it would be a pity if it ied itself by heavy permanent charges such as he had mentioned. It appeared to him that such a question as was under consideration was one which would be better managed by men. With these remarks, he supported this scheme as merely a temporary stopgap in view of the legislation to come. (Applause.)
As present we spend on our 8 orphans per month Stor.50, and allow to Mr. France (a month) $15, and to meet this, we have only 8 regular subscribers which brings in an amount of $81 a month. This obliges us to go into debt if we are to help any outside cases. The Committee therefore take this opportunity of a further urgent appeal for more regular subscribers of Siz a year. With regard to the support of our orphans 4 of one family have bean maintained at the Diocesan School for girls by the Society since 1901. Two of these left in autumn and have obtained situations. We have partially supported an- other child at the same school since 1901.
Since 1899 we
have emirely supported another orphan first at Miss Johnstone's and afterward at the Diocesan School. The girl is now 16 and we may reasonably hope that she will be able to obtain some situation at the end of this year (1905). Since the beginning of 1993 we have supported two girls at the Italian Convent. We have partially supported a boy at St. Joseph's College since 1901. We partially support another orphan at Miss Johnstone's school. Except the girl of 16 before mentioned all these children are young and are likely to be on our hands for several years. Details of the other 14 cases Assisted during 1904 will be found on another page of the report. Attention may be called to the fact that the Society has dealt with over 1,000 cases since its establishment in 1899. At the suggestion of the Society the Hongkong Government has written to the Commonwealth of Australia giving particulars of several cases in which the Australian wives of Chinese have been deserted, or other-wise ill treated by their husbands on return to China asking the Australian Government to warn young women against such marriages, ap the husband has (00 often already contracted ties in his own country, During the year Mrs. Turner, Miss Hunter and Lady Goodman left the Colony and their places on the Committee were taken by Mrs. Master Mrs. Peter and Mrs. Badeley. In Septem- ber, Mrs. Master resigned and her place was filled by Mrs. Gershom Stewart. Since Lady Goodman's departure and resignation of the Chair, which was mnch regretted by all the Committee, Mrs. May has kindly and most ably presided and Mrs. Alkinson has acted A Vice-President. Lady Goodinan had been connected with the Society for many years and had acted as President for three years. Mrs. Bridie resigned her place on the Committes at our last meeting as she is leaving the Colony and Mrs. Robertson has consented to take her place. Mrs Bridie was a most active and energetic member of the Committee and will be very greatly missed The Rev. J. France returned to the Colony at the begin ning of the year and resumed his old place” on the Reference Committes relieving the Rev. T. Wright who had kindly acted for him while he was away. The following ladies retire in rota tion from the Committee: Mrs. Hastings, Mrs. Hickling, Mrs. Siebs. Of these only the latter two offer themselves for re-election, as the Hon. Treasurer is leaving the Colony for a short time. The Chairman, continuing, said the first thing at that general mesting they had to do was to elect members to fill vacancies on the Com- mitter and subsequently to discuss a proposi- tion which would be put before them. He thought he might compliment the members of the Committee on the work they had done dur- ing the past year, They had been most assld- nous and doon all that was in their power to Mr. E. A. Hewett seconded, and said he do. But they would have done very much paderstood before he came to the meeting that more had their efforts not been limited by the they would probablyƐhe asked to express an funds at their disposal. From the report which opinion on the scheme as proposed by the had been read, it appeared that the Society, Governor. He must confess that he had been than which there could be no better in the somewhat taken by surprise after hearing the country-its aims were so high-had an ex- remarks of the Chairman, He was very glad tremely amall list of subscribers. It was to hear Mr. May's resolution, and he thought, astonishing to find in a large and wealthy com- if it was put forward, the result would be good munity like Hongkong that the numbers were No doubt the ladies of the Benevolent Society so small. He could only believe that the exist would dispose of the funds to the best advan, ence of the Society was lost sight of. Surely tage, and if it was proposed to forma guarantee they ought to be able to get a larger list of sub. fund for the help of deserving seamen, he was Hon. Mr. May said that Mr. Stewart. scribers. He called attention to the limited num sure he heartily supported it. He had had was afraid that the Sailor' Home would bers in the expectation that when the pancity nearly thirty years experience of the Merchant be lowered in tone by the admission into of numbers was made public it would at once Shipping Act, and was also well acquainted it of "foreign seamen. Now as a matter of be followed by a large and increased list, with the law relating to vagrancy and he look. | fact about 80 per cent of the inmates were The subscription was very small-only 812 Aed forward to seeing the legislation foreshadow foreign seamen. The scheme was so far a year and it was absolutely necessary, if the ed by Mr. May brought out, and threshed, charitable one. He did not think it could be Society, was to have any power for practical The cases of deserving seamen becoming dess said that the Government had ever shirked in good, that the number of those who subscribed |titute were very rare, and he very much doubt"" responsibilities in the past. If the evil grow
|
|
ge them. Mr, May had told them that legio- lation was in view to discourage the dumping of undesirables, and he would like to have seen this legislation before they said anything about this scheme. His idea was that the scheme ought not to put on private individuals In responsibility which belonged to the whole community, te did not see that this should be treated as a matter of private charity, any nore than the question of the unemployed at home. There both the Imperial Government and the Municipal Council bad taken the malter up. Fe maintained that in this case
Bon. F. H. May then moved that the meet- ing adopt the following resolution: *That this Society should adopt the scheme for deal. ing with deserving, distressed seamen, set out in the letter from His Excellency the Governor under date of the 28th January, to the President of this Society." He said the scheme had a The Bishop of Hongkong said he considered, two-fold object. The first was to enable the the scheme was a good one as a temporary Society to deal effectively with a certain class
measure, but a bad scheme if it had to be con- of those who applied to it for assistance-asidered as a permanent measure. It seemed class of seamen, and it was proposed that these not to discourage the class, they had described cases should be investigated by competent as "wasters," but on the other hand to encour authorities at the Sailors' Home. The second object was to relieve the Society of the expense entailed by dealing with these cases, by invit ing Individual members of the Society, or outsiders, to become guarantors to the guaran. tee fund. That was really the case in a nut- shell. He might say at once relieve the minds of those who might think that the adop, tion of such a scheme, would attract to their shores a larger number of undesirables, that the Governor bad in contemplation fresh legis lation to make it more difficult for destitutes to be, dumped in Hongkong than it was at present. (Applause). No matter how closely they wove the meshes there would always be loop-boles, and there was no doubt that, how ever tight they made the law, cases of desti. tution would crop up. Where seamen were concerned, he thought the members of the Society would agree with him, that it was de- sirable that they should be dealt with by the authorities who were accustomed to deal with them.. It therefore seemed to him that the scheme was a good one. It would assist the Society, and he did not think there was any fear that it would attract more destitutes to their shores.
the Government ought to take the matter up, Though they might get a good many guaran. iors now, he doubled if they would keep it up, year in, and year out, They would get tired of it. It was very kind of the Superintendent of the Sailors' Home to undertake to examine all these cases, and for the Rev. Mr. France to undertake the distribu- tion of the relief It was very kind indeed but Mr. France, who was one of the hardest worked men in the Colony did not come out to Hongkong to act as a sort of pauper inspector to the Government and inquire whether sea. men were deserving or not. They all paid [ heavy rates and taxes, and he failed jo sen why the Government should not found a special Department to do this work if necessary. They had a Protector of Chinese, whom he thought well able to look after themselves, and that being so, was it too much to ask the Govern ment to give them a Protector of Britishers? In conclusion, the Bishop supported the reso tution, but only as a temporary measure, and expressed his firm belief that the matter was one for the Government to take up, rather then private individuals,
ABSTRACT OF ASSETS AND LIABILITIES 31st December, 1904.
Liabilities.
Paid-up capital,............... Sterling reserve fund,.. silver reserve fund,... Marine insurance account, Notes in circulation
Authorised i*- sue against securities de. posited with iko Crown Agents for
the Colonies, $10,000,000.00 Additional issue authorised by Hongkong Ord. No. 19 of 1900, against Coin lodged with the Hongkong Government, 6,422,593.00 Current Accounts,———
Silver, $70,56,898.34 Gold, £3,632,716
| 10#. 78= 39,104,287.84 Fixed Deposits,~~
Silver $48,560,443.56 Gold, £5,137,433
16. od 55,337,919.12 Bills Payable (including Drafts on
$100,000.co 10,000,000,00 7,000,000.00
After paying running expenses, salaries, premia of insurance, repairs and all other out goings, there remains, including $16,362.85 brought forward from last account, the sum of $106,160.88 at credit of profit and loss ac count. From this amount the directors re- commend that a dividend of one dollar per share or $80,000 be paid to shareholders, leaving a balance of $26,160.88 to be carried forward to
new account.
The adverse conditions of the trade men. 150,000.00 tioned in the last report have continued during the six months under review and there is nothing of special interest in connection with the working of the steamers to comment upon Mr. H. . Tomkins resigned his seat at the board in consequence of his intended departure from the Colony and Mr. F. Salinger was nominated by the directers to fill the vacancy subject to confirmation by the shareholders at this meeting.
16,422,593.00
-110,001,186,18
103,888,362.68
London Bankers call loans and short sight drawings on London office against bills receivable and bullion ship. menis), ........................................... 17,426,024.07 Profit and loss account, ........ Liability on Bills of Exchange re
4,745,544.05
discounted £ 4,152,371 B1, 106, of which £1,489 os. of, bave aluce nin off
Cash,.................
Arrets.
The retiring auditors, Vessrs. A. O'D. Gour. din and W. . Potts offor themselves for re- election.
W. J. GRESSON, Chairman.
Hongkong, 3rd February, 1905. December 31s', 1904. ASSETS
Value of steamers Ho nam, Powan, Heung, shan, Lungshan, 4ths of Fatihan and Kin shan, and fid of Sai- nam, Nanning, Tab- Hing, Linton & Sanut,
as per last account...941,500.00
Final payment ac-
count Samui.........
1,300,00
|
Value of lighters Sum Lee and
Wo Les...... Value of wharves, bulks, and moor.
ings
Value of properties at Canton,
Wuchow and Kongmuo
Value of spare gear
Value of furniture...
Value of shares in public companies
$174,793,709 93 Value of Chinese bonds
Loans on mortgage Interest accrued..............................ængebreker Sundry debtors ...............
.........$37,472,737.63
Coin lodged with the Hongkong government against nota cir. culation in excess of $10,000,000 8,500,000 DD Bullion in hand and in transit,... 5,731,680.95 Indian government rupes paper, 2,035,153.16 Console, colonial and other se-
curities,.................... Sterling reserve fund investments,
9,214,976,98 viz.:-
£570,000 at % consols
at 85............. £$84,500
(of which £450,000 lodged with the Bank of England Spacial London Re
£255,000 14% national
war loan, at go......... 129,500 £335,000 other sterling jecurities, written down to................. 186,000
£1,000,000 Bills discounted, loans and cre
dits......... Bills receivable, Bank premisesIKE OU
!?p=115,009,136.44
To
!
•
10,000,000,00
85,601,394.98
1,218,629.80
$274.793,799.93
GENERAL PROYIT AND LOSS ACCOUNT, Dr. 31st December, 1904.
Amonats written off
Remuneration to directon........$
15,000.00
Dividend account
£1.10/ per share
on 80,000 shares
-£110,000 @
416.
Bonus of. I per..
share on 60,000
shares £80,000
© 40 mm 355:555-55
8$1,368.80
December 31st, 1904. LIABILITIES.
942,800.00
8,500,00
81,550,00
137,846.77 15,980.61 750.00 653,770.00 1,034.48
544,000.00 2,360.25 11,136,53
$3,399,568.74
BEACHCOMBERS.
A MANILA BUGGESTION,
Some of the ports in the Crient do not enjoy the immunity from beachcombers that Manila has enjoyed for a long time, and the Straits Times commenta at length upon the character. istics and vagaries of the beachcomber in general, not neglecting to give the Philippines a gentle dig on the score of furnishing material homily upon the tragedy which occurred in of which to make beachcombers, basing its Hongkong, the murder of a boat woman by three beachcombers, one of them an American boy who had gone wrong under the enervating influence of Oriental life.
After describing the successive steps by which a self-respecting sailor descends to the level of the human derelict the Straits Times says At the present time there are other' prolific sources from which beachcombers come-ex-soldiers from the Philippines, ne'er- do-wells from the new China railways, and broken men fromfevery quarter. These haunt the grogshops with eye alert for Tommy Atkins, or Jack Ashore with pockets Bush. They toil nat neither do they spin. They lower the status of Europeans in Oriental eyes. They stop people on the streets to beg for money which, if forth. coming, they spend in drink and, in some places, they terrorize women into giving them money for the same purpose. The Terrible event at Hongkong shows to what an extent some of them are capable of going,
It is true that some of the discharged soldiers from the Philippines have drifted over to the Chinese coast and, having fallen into straitened circumstances, bave become a burden upon the community. Probably not.somany Americans have become vagrants in Hoog kong, the nearest colonial port, however, as have right here in Manila, and yet, the vagrant population has never become one of the questions of government here, and if it were handled in a similar way in the other Oriental ports we do not think that it would give much trouble. Manila has been made a very inhospitable spot for beggars, beachcom bers and vagrants of different classes, and this has operated to keep them away from Manila very largely, while the method of dealing with those of our own nationality has been as simple as adding two and two. The laws of the Ph lippines in their administration draw a sharp lina between the worthy indigent, and the worthless vagrant, but it does this with both of then. It provides for placing them where they will not be a tax upon or a discredit to the community. The Indigent is assisted in get- ting back to his own proper community. The vagrant is sent to prison and made to perform enough productive labour to equal the cost of hi 158.444.38 keeping, and after a reasonable, sojourn within
5.793.00 prison walls, if any community owns him, ha l 16,926.36 tent-back to it, pardoned, on condition that he never attempts to re-enter the Philippine islands. The result of this energetic method of handling the vagrancy question is that vagabonds steer clear of Manila in the vast majority of in« stances, while those who drift into the life here | meet with every discouragement and are finally shipped away to their native land, where there is a possibility of their regaining some of their lost character. The temperate zone is not so conducive to idleness as the tropics..
600,000 00
$50,000.00
Amount of capital, 80,000 shares of
Srs each, fully paid up........... $3,200,000.00 Amount at credit of depreciation and insurance fund......... Amount at credit of equalization
of dividend fund... Amount at credit of investment
fuctuationaccount..................................... Unclaimed dividends ................ Sundry creditors.* $11 Hongkong and Shanghai Banking
Corporation current account.. Amount at credit of profit and loss
account
42,344.12 106,160.88
$1,399,668.74
PROFIT AND LOSE ACCOUNT. December 31st, 1904).
Dr.
To amount paid for repairs to stra. $13,391.32 directors and auditors' fees 4.750.00 Balance to be appropriated, viz.
Dividend of $t per share
on 80,000 shares.......$80,000.00 To be carried forward to
How account.
*** 26,160.88.
Judging by the article in the Stratis, Times and by reports of some of our residents.who have travelled recently in some of the other. Asiatic countries, the beachcomber, the beggar, the vagrant, the loafer and the tramp.constitute a considerable, if not a formidable, claas the handling of which furnishes no easy problem which the government has to solve. We can $106,160.88 recommend to the authorities a regimen almi far to that in vogue in our own city... If a simi $124.302.10lar course were to be pursued persistently by Cr.
all the governments of Asia we do not doubt, By amount brought forward from
that, in the course of a very few months this. last accounts - dujom $16,352.85 entire side of the world, would acquire, sa net earnings of steamers i
65,006, 17 dubious a reputation in the lore of vagrancy interest on investments.......... 41,821.08 that the undesirable class would seek Elysian « transfer feesquaires
113.00 fields in some other quar er of the globe and treat the Orient with very much to be desired $134.303.10 inattention,-dfanila Timet