KOWLOON-CANTON RAILWAY...
THE HONGKONG TELEGRAPH, SATURDAY, JULY Y 1905.
KWANG-CHO-WAN "ATRŪCITIES,
CONGO HORRORS OUTDONE.
THRILLING STORIES OF TOMKIN."
SECH BARNHAM, BOYD & CO. ANNUAL MEETING.
THE CHAIRMAN'S SPEBOH.
MANAGEMENT CRITICIZED. The long looked for and eagerly anticipated annual meeting of Messrs. Faraham, Byd & Co, took place at Shanghai on Friday afternoon also'clock. There was a very large attendance of shareholders, and it was easy to gather that there was a strong feeling of animosity against the chairman and the board of directors.
The notice basing been read by the secretary Twentycan, rose and spoke throughout with convening the meeting, the chairman, Mr. J. R. much warmth of feeling. He said
When I left here I felt very sanguine about patting the business through on a satisfactory basis and I can only sav I feel very disap painted I was unable to do so on lines which would have been acceptable to you.
THE HONGKONG TELEGRAPH.” With regard to the article which appeared in the Hongkong Telegraph and was afterwards copied by the China Gosalie of May 5th, 1 may say, gentlemen, I do not object to fair, honest criticism, hut the article in question is vindictive, untruthful, and I will go further and say libellous
:
1903 we paid a per cent 1904 to 1905 13 per cent, or 85 per cent. in all; a record few Companies can equal, if any,
I uona has any question to ask, t'shall. endeavour to answer them to the best of my ability." (Applause.)
It all. It was as iff and a snap and a " H'm" | all the time, Mrs. Chong had a fine American eight-day clock, warranted silver-lined and 28ik ult. ti is a satisfactory sign of the times to road jewelled in every key, it was stuck up on the the Walwaps have no desire to place any top of her egg and bunyi, like a cock on a stacles in the way of constructing the Kow-henroust. She strove to hide the rest of har
Canton railway. According to the tale things by spreading out ber-unmentionables which we publish to-day-confirming the and the very nearly succeeded. Up comes the natives of Kwang-cho-wan by: French A terrible story of atrocities committed on Sort: which appeared in our columns in our Mrs. Hung. “A howdyedo this morning?
Di the 10th inst-the Chinean Foreign aid Mrs, Hung in her finest Mandang. A officials-horrors that are described as being worse than anything heard of in the Congo ice have informed the British Ambassador slight pain, that's all Mrs. Chong, and thank ye Peking, Sir Ernest Satow, that they accept kindly for asking. A slight pain la the wind. Male ale reported in La Courrier proposal that the line from Kowloon should And how's yourself?" responded Mrs. Chong, Signals which coples the story from Avenir de Tomkin. The Courrier says in solely under British control until it in her fioen, Pekinese, giving another jerk to aches within 25 miles of Canion. From her pantaloons. "Oh middlin' I was up all an introduction that the despatches of their own correspondent on the subject told of such point it will be a British and Chiners night with Johnny-his teeth, you know, and cero. That in a magnanimous agreement his pa is that restless since he joined the them, scarcely being able to conceive that they horrors that they abstained from publishing this exceedingly gratifying. It was only PW.D. The what?" cried Mrs. Hung. The could be true. But the newspapers of Tonkin Buy that His Excellency the Governor Public Works Department" said Mrs. Cheng, related the circumstances, with all detail. A meeting of the Legislative Council with a miserable attempt not to appear self-
Avenir to Tonkin begins by saying that
THE PROPOSED SALE. aled that negotiations had been opened at conscious. "He's an official now-but" (her
As the accounts have been in your hands for king with the Chinese Government for an eyes turned to the clock)"that's a beautiful M. Sanvalle, inspector of the civil guard, indignant that the sanguinary atrocities.com
some time, it will be unnecessary to read themt reement for the joint working of a railway imepiece you've got. Our gran'ına had a
mitted around him were vainly reported to
now. Before entering into any detail concern- De 8 gauge from Canton with one from marble image of it, with fins side-pieces-" and M. Alby, had decided to make the facts knowning the year's working, it will be necessary to Kowloon to the frontier of the New Territories on. Meanwhile a street urchin crawled up to the Governor-General "There are more occupy your time with some explanation re- Excellency also stated that it was proposed and grabbed the dearly beloved clock and Tocques than the one in the Congo," said the garding the proposed sale of this business to a Agreement should be on the lines of one war of in a winkling. The whole street included by the Colonial Office on behalf was after him. Nobody who lives in Wan-inspector. "The subjects of Messrs. Tocqué London syndicate. A meeting of the share
the Government with the British and thai thinks of working. They only sing chowan have been manyred. One could
and Gaud have not suffered. Those of Kwang-holders was called on September 26th, 1904, China Corporation. The Agreement has not ang and chase promiscuous thieves, who yet been made binding, apparently, because it always belong to West Point. At least that's hardly imagine a state of things so evil and has not been submitted to the Legislative the gossip. Whether they caught this regua
ouncil of Hongkong. That the negotiations or not, it is impossible to say. But what about torture by the Inquisition were renewed, with Proceeding, the writer says: The scenes of the spring-cleaning? Why that's done by a lear from the fact that when the Governor piternal government. Some uniformed coolies have beard of death by immersion in boiling all the refinements of modern inventions. We come along with a hore pipe and will the Dietate that a party of surveyors had already muse from top to bottom. They do swill it all; the wheel and the rack. It was necessary | 6.30 p.m. on November roth and early the next | siderably below its value. I am sorry to take dividend of T. 21 was paid on 48,300 shares,
too, and no mistake. Water is cheap, and inte. then to find something now. Ine within British territory. Lince that state. ¡ly it has been plentiful, so "let her go" they of the crima of which he was accused, the some of the were at once opened out and an events in my opinion call for this information..
miserable.
1
THE NEXT PHASE
a
A SHAREHOLDER 'S CRITICISM.: "Mr. Taylor rose, and said:-Mr. Chairman and gentlemen. The directors, in presenting their report, trust that it will prove antislacion to shareholders. Since we are to receive II. Y mora as dividend and as Tls: 100,000 are to be THE INCEPTION OF THE COMPANY,
carried to the Reserve Fund instead of 50,000, imperative we should go back to the inception last year. But I imagine that this is as far as We have reached a point now wherein it is is to that extent less unsatisfactory than that of 1-think we may tell the directors that the report
•f this Company. S. C. Farnham & Co. was we can go in response to the directors' plean registered in Hongkong as a limited company Tir an expression of satisfaction. I purpose in 1892 with a capital of Taels 750,000 and with the permission of the meeting to show before we became a limited company we had a that we have no reason to be satisfied with the system of writing so much off our machinery progress of our business or generally with the every year; moreover, our boilers, engines and heavy machines were bought at a time whening directors. In order to do this I must first
conduct of the Company's affairs of the manag The tacl was about 5- and the whole was call attention to the reports presented at provi handed over to the new company at the fow prics it stood at in our books, There ous meetings. I have taken the trouble to look and it was decided I should proceed to London against the new company. We afterwards
was no good-will or outside expenses charged the reports of the meetings during the last four years, and Mr. Twentyman's speeches, when considered with results, are rather curious to meet the gentlemen who formed the syndi-taued shares representing Taeis 10,000 mak cata. A resolution was passed giving me powering the capital Taels 800,000, Messes. Boyd
reading. paid up shares of teach, equivalent to 28.10.0, time before us, I believe on simillar conditions, ince the amalgamation were given as 1. to accept 12.100 in cash and sixteen fully & Co. became a limited company some short
At the meeting hold, on the 5th July, 1901, the net profits for only ten months of working could accept them. I arrived in London about you got land, property and machinery at consiividend of T. 7 on 31,700 shares, a final provided the conditions were such that wo I have therefore no hesitation in telling you, 1287,313-74. After allowing for an interim morning met ons of the gentlemen at his office. up so much of your time, gentlemes, but recent These figures make one's mouth water. Mr. A prisoner would be found, often innocent Negotiations cry and there seems to be great competition victim of vengeance or misfortune, if he had
Twentyman told the shareholders that "condi parties were not in London they were corresponded with and much difficulty
tions were specially bright and orders were For the honour of holding the nozzle. Occa
no money to pay a ransom to the intermediarios,
was experienced in trying to arrive at a in our career was, we bought out the Shang- coming in daily." But he said that we required anally crowd, but make part mistake and his gaolers, he was condemned to death in basis which would be acceptable to you. Thai Shipbuilding, Engineering and Dock Co, larger capital and that 6,900 new shares would inuses the crowd, but that is part of the plea advance, That he was poor was sufficiant. I tried to obtain better terms than" were placed / when their shares were quoted at about Taels be issued nt a premium of T. 125. How far sure of house-cleaning. The Government has
before you, and you may be sure they tried to 72 and we issued shares to them at Taels 100, the handsome dividend paid was justified.by sent along a ille strip of paper which says argument for bis accusero.
I think I am right in saying the shareholders actual profits and to what extent it was due to avoid giving more. After 1 had consulted with If you don't clean your house tomorrow,
Mr. Frentice, much delay was experienced and
of both companies had every reason to con- a desire to secure acceptance of the scheme, to there will be ructions." Then it adda-"We
we decided to give them the refusal as request gratulate themselves on the transaction.
increase the capital, must leave to qualified will provide soap, and suds and scrubbing
copere discussed almost daily. After istence as a Limited Company. We smal We now come to another phase of our ex 1905, meanwhile mat- brushes and water and paint, and whitewash."
experts to decide, It also says to these conlie-residents-"If your
the time had expired we were then requested gamated with Messrs. Doyd & Co., Ltd. Their house is panelled in oak or teak or mahogany,
to meet certain gentlemen at Brussels. We shareholders got two shares for one, less Taols il the walls are steel-lined and the floor tessel ated or covered with linoleum, you peed only
went Brussels and succeeded in getting bet-
15 pershare. The sequel to this was the share ter terms of which you have since been ad- holders of Farnham & Co., Ltd, were en- wash them." And finally-"If you don't want
vised, equivalent to £11 per share and with titled to a consideration to place them on to do the work yourself we'll do it for you,"
altered conditions of which you have had parti- an equal footing and when I explain to you a the people go into the street and say '
"Go ahead, we'll watch you doing it, and criticise
colars. The terms wanted by the ayodicate that the Collier Dock and so much land stood for nothing." And that is what they call
required considerating, we therefore returned in the Company's books at Taels 10,000, the Tuokadoo Dock at Taels 130,000, the Old Dock spring-cleaning in Hengkong,
to Londen hoping we would be able to arrive at a definite conclusion with them. After con- at Tacis 150,000, and without fear of contradic siderable discussion, without being able to ar- tion, the Docks could not be constructed to-day, rive at a settlement, Mr. Prentice and myself gentlemen, at three times the amount, without decided it would not be conducive to your in making any allowance for the land, etc. At a terests to remain any longer, and with the hope meeting, it was therefore decided to give the that our departure might induce our friends to be shareholders of Farnham & Co., Ltd., three more liberal in their ideas, we decided to leave, shares for one, which they were justly entitled feeling sure that the business was still open to, 10, seeing they were handing over so much us on the lines placed before us, should you value. All this explanation consider peces desire to accept it seemed to us the final sary because of the complaints about our large offers left very little room, if any, for return on capital and being over-capitalised. Now, been swallowed up by the debentures. can place it under any category or heading you
left Shanghai and I clearly stated in my You empowered us to accept the offer before
please, because it amounts to the same thing you the shareholders received the shares. It therefore seems somewhat complex, certain made up by debentures. We could have appeal to you as being somewhat incongruous would be £1,200,000 and the rent would be accepted this offer and this would have and like blowing hot and cold without any just
It frequently happened that the prisoner did not even know the crime of which he was accused. What did the laws matter! There were always willing witnesses to be found to denounce the poor prisoner of imaginary crimes. The prisoner had fits to be inter rogated.
ad proceeded satisfactorily, however, was
Hellvered his address he was also in a position aft England, their object being to locate the ment was made two English surveyors arrived * Hongkong and shortly afterwards proceed. 4 to the scene of their work. At present Jey are saying at Tsimmatsui, but later sa will probably be located at Tai-po-hau, which is a rather important village at the wes ternmost point of Tole Harbour, and is Situated about equidistant between Yau- mait, where the line will start, and Sam. Chun, where it will connect with the hind from Caston The route from Yaumati to Sam Chon has not yet been definitely stitled, but we understand that a general plan has been drawn up, from which small and unim. portant deviations may be inade. Starting From Yaumati, the line, we are led to be lieve, will run through the Mataukok Val. ley to the Lion's Head, which is one of the loftiest peaks on the mainland behind Kowloon, Lion's Head will probably, be #tunnelled–which should prove a work of no ittle magnitude-and, the line will com. nue along the Sha-tin-tau Valley, skitting ha Tolo Harbour, and practically following in general way the roule of the Taipo road. eat. Chong-shu-can the railway will take a arp turn to the northeast, still following the laboard, until it reaches Tai-po-hali, where the Jurveyors are at present stationed. trom Tai. -bail the line passes through a well-populated puntry, draining several small villages, until Central, erected on sub-section No. 3 of Section After being struck by the cane, he would be the original shares as the profits would have gentlemen, who got the money or shares, you adopted-suggestions which naturally did not
PROPERTY SALE.
38th ult.
This afternoon, at his auction rooms, Dudd.B Street, Mr. Geo. P, Lammert, auctioneer, put up for sale by auction the valuable leasehold property, known as No. 36, Queen's Road A of Marine lut No. 67A-
This property, which is situated near Fosses The country appears to be sparsely settled,sion Street, in the Wastern part of the Central bat at Shek-u-hu there is a prosperous district, was knocked down, after much com- district which should greatly benefit by
Can-lang-hang appears. Th nce to Fan-ling
He had to kneel on the ground against a tree. His feet were tied to the basa. His hands were tied behind his back. So that he was half-falling all the time. His head, fatigued, after he had been in this position for several hours, fell towards his stomach. Fixed on the ground, upon a baniboo, was a bayonet pointing towards the throat of the prisoner, to remind him that he was in danger all the time,
Then the questions began,
}
ha bew line. When the Lo lu valley is cross-etition, to Mr. Wong Yue Tang for $17.000. tlon of the bayonet. Then he would be struck #peech the nominal' capital of the Company shareholders should complain. Does it not hand and the future was so promising, the
ed the terminus Sham-Chan is practically This is equal to something like $35 a quare
The official who presided had the Chiness before him near enough to give the prisoner a crack on the head when he forget to give an answer. When the reply was not quick enough, the unfortunate, man was struck on the head with a cane, and it took him all his time to keep from falling on the bayonet slapped with the hand. He would fall-for- ward, the point of the bayonet would prick his skin and blood would come. Another quer tion, another slap on the bead, more penetra was closed fist til at length the bayonet had penetrated his body several times.
The official varied his methods. During the eighteen months in which he committed his assassinations the same system grew mono sonous. So he lavented a new method. As Chinese were born white, and many wished to In their interim report for the half-year to el to San Francisco, he would givethem, he said, March 3, the directors state that the working He got a machine like a grill, lighted a char a free pass-he would make them white again. account does not present any striking contrast coal fire under it, and seated the victim of his to that of the corresponding period. While the passenger traffic shows almost identical city on the grill. The grim humorist called figures, the freight return is better than last out "That's how a pig should be grilled." As the skin swelled, hot irons were passed through prepared.
foot;
P. AND O. REPORT.
In sight, and the connection is then made with the Chinese railway.. If ihia roule be adopted, and we submit the scheme, as we have received it, with all reserve, there seems to be no particularly great engineering probleme ↑ be faced, the only-undertaking of any im ortance being the piercing of the Lion's foad, which in these days should not present my exceptional difficulty. For the greater art of the way the line will follow the new alpo road, losing it temporarily at Kaoilung ang and finding it again at Shek-u-hu. On the help it would tap a very promising district and, hould greatly assist in the development of the Uutward trade to China and Japan. To other sources of the New Territories, stimulating parts of the East export business has treen of only the agricultural industries but also the scarcely up to the former level., Homeward ade on the coast of Tolo Harbour. Of course, business generally has been unsatisfactory, al we have already said, this plan may be sub-though at one time there appeared to be a fair to many alterations, but it is suggested that prospect of improvement in this respect. The surveyors will keep as near as possible to additional coal consumption and other ex- Croate here sketched out.
penses connected with the new accelerated mail service had scarcely been left when the present accogat closed, but a considerable in.
SERING CLEANING IN HONGKONG.
A SCENE IN WANCHAI.
18th ult. *
a
'SATISFIED THE (PECULATIVE ELEMENTĮ
have fared? I am afraid very badly. It was but what about the investors; how would they
we considered was the best for the Company.
question of right and wrong and we did what
describe all the arguments or read all the It would be impossible for me to detail or correspondence on the matter, even if thie were permissible, is would be necessary to detain you here the best part of the night. You may be sure we did the best we could for you
reason
*
Now, gentlemen, I am going to tell you something which may interest you. About two-thirds of the original shareholders in S. C. Farnhamn, Boyd & Co. have never changed
their holdings, unless it was to increase them. you can therefore judge for yourselves whether all the stories you bear are correct or not, The Directors have done their duty toward despite all the canards which have existed, we you, without fear or favour from anyone and
year, mainly awing to an improvement in the the epidermis, just as if a repast, was being with the knowledge that, by protecting you,ay we have always had the best interests Twentyman, however, was an optimistic as
But that was not the worst. There was a inspirationsaime to the officer. They were sort of graduated farture for the victims. New alt pre-condemned to death, but there was a difference in the methods employed according to the humour and temper of the official. Sometimes the nails were pulled out one by pae. Sometimes the prisoner was seated on hot charcoal. Sometimes he was brought in crease in expenditure is forcabadowed for the stark naked, spread eagled and disgusting remainder of the year. The company have ceremonies performed on the helpless victim. recently built maif steamers to the value of Sometimes red hot irons were thrust into the 62,500,000, besides making a large outlay on bodies of the poor unfortunates, the official jok- some of the older ships of the fleet, and a subing and keeping up a continual flow of pleasan stantial addition to the annual sinking fund
tries. It was pretended that the use of red-hot will be necessary to provide adequately for de
maladies, and that it was excellent for enlarging operation, that it cured certain unmentionable the knowledge especially of those who knew nothing.
It was horrible to witness these scenes. It conquerors in America. Nero himself in his delirium would have bee. affrighted. The first Christian martyrs in the circus did not suffer to greatly.
the directora as shareholders were also deueNL
sing themselves.
A BREACH OF BUSINESS ETIQUETTE.
1 of this Company at heart. Mr. Prentice and myself are ine ouly two remaining old.part- nets left in the Company and I ask you, gen. tlemen, is it likely alter handing over our share of the business to the Company at the low rate we did, we should lose our interest in its wel- fare and prosperity. We will now leave these historical events and deal with the modern transactions of the Company.
On the 21st July, 1902, after allowing for an interim dividend of T. 7 on 35,200 shares, all the new issue having been eagerly taken up, a final dividend of T to only was declared while 1,750,000 were carried to the so-called Reserve Fund. Mr. Twentyman stated that large con- tracts were on hand and that "the future ap pears to us very promising," But strangely enough he had already changed his mind about the capital required and now brought forward a scheme for reducing it. Mr. Cecil Halliday pointed out that the Directors had issued new shares which had cost the share- holders T. aas and now wanted them back in exchange for a share of the nominal value of T. 75 and a debenture of T. 25. Needless to way this peculiar proposal did not meat with enthusiastic acceptance and was dropped." "At this meeting Mr. Holliday suggested that inde- pendent directors should be appointed and that a more scientific systém of audit should be meet with Mr. Twentyman's approval.
On the 16th July, 1993, it appeared that, in spite of Mr. Twentyman's statement of the pre- vious year that there were large contracts on profits bad dropped nearly so per cent." The usual interim dividend of T. 7 had been paid, but the final dividend was T. 8 only and T. 100,000 were carried to Reserve. Mr. Twenty- man said, however, that we had been fairly well amployed during the year, that business during the first six months of 1903 had been very satisfactory, and that prospects were good. Rat at next meeting on the 19th July, 1904, the profits had fallen again, this time to T 760513.18. The interim dividend bad been only T. 50,000 were carried to Reserve. Mr. only 5 and the fioal dividend was T. 7, while
ever. He said that the outlook was by no means gloomy, as we had orders for river "STEMMING" PVtuvas, large and small lightars. He said our position was gradually improving, than it had ever been before and that the future that the business of the Company was better was encouraging. WORTH OF MR. TWENTYMAN'S STATEMENTS. The price of shares on the local market made it clear that, by this time Mr. Twenty- It has been said that the Old Dock lies as so man's statements were accepted at a consider- much unproductive capital so far as the Comable discount. But he was equal to the occa- pany is concerned. I invite any of you share the 26th September, 1904, at which he stated sion. He called an extraordinary meeting for holders to inspect the place during working hours, and I think you will agree with me, it is that he had a definite offer for the purchase of a hive of industry; moreover, if we stopped to accept. I was one of the forlorn 15 who the Company which he advised thareholders
ways commend itself to purchasers, It is true but so long as it is a going concern, it will al- we have a lot of surplus and, in all about miles of deep water river frontage. I think
individual share- Fany some time afterwards. The only special com holder in regard to the sale of any of the pro- ment I have to make regarding it is, is is worthy perty or in the management of the business, of the man who dictated it. The signatories we would display a great want of ability and of the first letter, dated April 13th, never de of which most of the shareholders would dis- finitely asked for a meeting to be called and as approve of. Gentlemen, this is no time to self we are not in the habit of splitting straws, will land. Like many more, we are waiting for therefore read you extracts from that lotter.
peace and better times, and hope for a rush of “The only satisfactory courte to de adopted business to this Port. The value of land may lies in convening an extraordinary meeting of go up, we can then sell. Furthermore, we are shareholders at an early dots" which is merely only working at about one-third our capacity passage reading: In conclusion and supple are in a position to cope with it. an expression of opinion. There is funther a so that when a revival of trade takes place, we
concur to the adultability of convening a miei. manting the above we would suggest that if you ing of shareholders, ste, sfc The next raad
would therefore can you at managing director to place all the facts of the present shareholders for the information
harder for information in public," but they do not say when, that is why we suggested the yearly meeting besides it is difficult to understand what the general public baye to do with our business dealings. It may be the conviction of the ten gentlemen who signed that document that the public confidence in the directors of the Dock Co. shaken, but i hope the result of the meeting will prove their conviction is not correct,
We can assure you the parties with whom we were dealing were of nedoubted financial standing. It has been said we should divulge the names of the gentlemen, but this would not help us or be of any benefit and besides every letter was headed "private" and "con Adential," it would therefore be a breach of business etiquette and, as I have already said, would do on good.
SHAREHOLDERS' PROTEST.
THE MODERN TRANSACTIONS.
Now is the season of our discontent,' for preciation on the original cost of the fleet. pokers to the body was an excellent surgical | received on the 17th and to which I replied on work, the value of the property would go dowa | volad against the male of the property, although
Stockholders are not likely, therefore, to ges highes dividends for some time to come, but the usual interim distribution of 7 per cent. per annum the Deferred is now being made,
A letter was received from Mr. Bland and ten others, dated April 13th, 1905; which I
ringe accident and was taken to the Hospital April 18th, and on the 19th I had a bad car I will leave you to judge the nature of the this office till Saturday, April 21st, and it was. the majority of you will reply dated April 20th which did not reach
alues. In England spring-cleaning is bad and business in the East will probably receive recalled the worst atrocities of the Spanish considered advisable to withhold it from me till we acted on the adui agree with me that if suggested we should be asked to stand in a
end.—P, M. G.
-
THE CHIALI PROVINCE.
It frequently bappened that the victim, dar ing the torture, died or lost consciousness. Then the body would be buried with all haste, just as it was, in the kitchen-garden of the residency. The European gardener, or the man who performed these functions, declared bodies were buried there. The truth of that that the earth would be well fertilised. Thirty
officer, sent to inquire into these things, was proved by the fact that an examining exhumed several bodies,
|
|
of
BHANGHAI IN. ITS INPANCY,
the definite offer appears in some respects at active. We is were made the objects of much cheap pleasantry, and one festive individual comer to be counted; but 1 fancy by this time our fellow-shareholders have come to the con clusion that we were not so wrong after all, for it seems that the definite 'offer was very indefinite indeed, and we have had the humiliation of bearing that our property has been hawked all over the place without finding purchaser. My own reasons for voting against the scheme were, first that I felt cer- tain it would not come off and, second, be- should be managed in Shanghai, and I had cause I am of opinion that this great business my own ideas as to the motives that prompted the scheme.
CHINA COMPANIES WITH LONDON MANAGEMENT,
I don't want to say anything which may be misleading to you. You are all business men and can judge for yourselves. Still in my hum ble opinion Shanghai is still in its infancy and of what may happens to a China Company We have had a striking object lasson lately * (Ai | 1 again repeat may become the London or New when it gets into the bands of a London
York of the East. You have only to look round syndicate in the case of the Kaiping Colliery withstanding Way is still raging and when Company which is managed in London with to see the rapid strides Shanghai is making pot and I may allude gently to a certain shipping Peace is declared it should cause an impetus out very satisfactory results to local share- good things. to trade and we naturally expect a share of the | holders,"
MR; TAYLOR'S BARCASM,
offer had the effect of booming up the shares However, the statement about the reputed from less than Tis, 160 to Tia, 195, a result, of course entirely unforseen by Mr. Twentyman, and he had a trip home at the expense of the Company,
Chinese spring cleaning days are upon That is to say, they are u, on the nere coolies who herd together in warren. flats and make night hideous with a blare
Jugh. It means bad tempera, bad chow, a great impetus when the war comes to an 3 everything. It is worse than a flitting, |
"moonlight fitting," because the excite- nt is absent. And yet there is excitement of Kort, when the mere man is hurtled from Har to post and back again by a whirlwind of jeg brooms and sweeping pelliconts, In ongkong, however, they have a better plan. An abundance of rain in all parts of Chibli be mistress of the house, the progeny of the province and in many parts of the adjacent
and the tenant himself heave their furniture country has made the crops unusually promin the middle of the street and await developing. The villages and villagers alike are In the Wanchai district it appears smiling, and it is agreed in many districts that spring-cleaning is in full swing to-day. even the excellent crops of last year will be nawonted stir came like a freshet to the surpassed. The farmers, however, do not yet frict The stranger wandering along, won understand the importance of treeplanting of
gwhat exactly occurred after 9 p.m. last of deep ploughing in relation to the heat and In a second article, the writer tells of a and piacing stray memories together, the rainfall. The shallow plough is universally journey in Montao, situated in Chinesa terri id anddenly receive a mattress on his head.
looked up to the heavens he was saluted Chinese village farmer to believe that increas there and the barbarons official in question used. Anyone who atemala-ve the crease try. Bandits were reported to be in hiding i ibower of muck and abuge. And the ed loosening of the surface soil enables the decided to exterminate the band. They began -the particular mattress in question- earth the better to ab orb both the summer by seizing the Chinese mandarin and when he to be exact, Horatio, had been-filled heat and the summer rains, instead of their pleadet that he could not proceed without or straw. Alan that was in its palmy days, being driven back into the atmosphere, is ders from his superiors he was placed in front id seen many vicissitudes of fortune sloce. regarded as a bumorous person, while he who of the troop and told he would be shot if he Average foreigner is under the impression tells the villager that afforestation produces a tried to escape. The thieves, it is parentheti coolles never use mattresses lie has a better and more evenly distributed rainfall is eally stated, had long since left Mon-tao, but o Idea that they sleep on boards of some liable to be looked upon as an absolute funatic the commander of the troops cared nothing for But there are degrees in cootiedom. So long as the natives continue to cherish that. He surrounded the village, set fire to it, ere is a gentility of birth among coolies. faith in the superior efficacy of perigrinating and as the inhabitants rushed out they were
the greater the gentility, the more ancient ison tablets as rainproducers, they will, no Sir affects. One of the effects must assuredly doubt, continue to denude the country of the told of a boy 14 or 15 years old, who pleaded shot down like mad dogs. A pathetic story is straw mattress. This mattress, which had trees which otherwise would autorally luxuriate for the life of his grandfather, aged 70, hidder away in a house in Wanchal since in this soil.
"Monsieur le Resident, said the child, let ma days of Tauf-whoever he was-since the
In Shanai, where, it will be remembered, a be the victim if you think that I am really worked it up to its present standard and noth sold the 1,5, Munchen and Elisabeth Nicholson that the tonnage of the vessels enterlag Shabre ya, at any rate, of the first edition of the
famine prevailed in 1900-1 in consequence of culpable, but, of your mercy, epare my granding can give us more pleasure than the kn w faling Gareils which we have all tend, was an the absence of rain for several summers in suc father. He is old, leable and ill. He could edge car Docks are all full and we have plenty our accounts, We have turned out from our
It had been slept on-one bad
of work which enables us to pay you good shipbuilding department several small steamers most said slept in by countless generations. cession, there have been good rains in some not have done anything. Mercy for him
dividenda.
and cargo pontoons, one large aiver steamer for Latterly the sleepers on this particular mattress correspondent writes to a friend in Tientsin, the boy to one side, and the old man was districts. From Ping-yao, Skansi, however, a That was noough for this official. He took
LESTERS VINDICTIVE AND- VITUPERATIVE.
the C. M. S. N. Co, one light draft steamer for bat have been lefants.. It had that delight under date May 31: "We are badly needing kicked to death in presence of the child. In
In concluding my remarks on this question, Lake service. We bought the Talung Mar, home-like, odoriferous perfume of the rain here. The wheat is in ear only a few the middle of the terrible scene the official I think, gentlemen, you will agree with me, the rebuilt and longthened her and have sold her largery. It was redolent, with recollections-
Youry, soul-satisfying, domestic. And it was is not sows, and that which is sown will not youth was allowed to live.
inches from the ground. Much of spring wheat sipped his coffee and a glass of wins. . The
letters, are vindictiva and full of vituperation #gain to her former owners. We have now in arrest deal more boloy than righteous. The
and are, in fact, condemnation without a know. | band an ocean-going steamer building to the of this thoughtfulness, this hygienic prices of almon everything are going cupies there and hals columnach werde dictated it. (Hear, hear.) Now, gentlemen, trade. A large number of cargo pontoons and A VERY EXPENSIVE MANAGEMENT
The story as told by the French weiter, oc. ledge of facts, and are worthy of the man who order of the C. M. S. N, Co, for the Tinaisip caution so to speak, was seen in the deck up rapidly," dudy material which floated through the air From Lu-cheng, Shansi, a correspondent re. Courrier and we have greatly curtailed it. We can still sell, but where would the lavestor cargo bosts and a lightship for the Imperial it is. I believe I am correct in stating that after the mattress bad subsided, long after ports, under date of June 7 Wheat harvest Some of the scenes are almost beyond be be? We had a wire stating another offer had Maritime Customs. We have also just com the director's exlaries amount to about Tie 9,000 per annum) which at the present rate individual on whom it alighted had sub-spoiled through drought only one-half at best lef, and the narrative is written in a plain poen mailed to us. This has now come to pleted a powerfill mail tender and tug boat for
the Shanghai Tug & Lighter Company, and of exchange is over £10,000 a year. i Wa ought And it left its mark in the scented air, and that only if rain comes soon consequently pearance of truth, on its face. The name of business outright, at a price which we consider another tug boat for the Kochian Transports to be organised on the same lines as other suce
honest fashion which canles truth, or the aphand and they wish to purchase the whole mack, also abuse, which followed may plenty of rumours,"
y not have been part of the mattress
tion and Tow Boat Company, and judging from cessful Dock Companies for instance, the the official is also given, but we have got ridiculous, and have offered to send out an time. No matter. All the furniture
eminder partner in a shipbuilding dem to go. general appearances, the outlook is by no means Hongkong and Whampoa Dock Company: Wa dat was piled on high, in the street fall on crops and of crops upon rainfall, there
over the valuations and complete the negotia discouraging. In conclusion, gentlemen, you should have one managing director of superne the present forgot to wall-for three and can be few, who will dispute the immediate
tion here. The directors have come to the will ses by the accounts our fonscial position. tendent drawing a good salary, a secretary end conds women crased to scaldy and effect of both on the political situation. Good THE oplam revenue stalement, for the current will not accept the offer which is, considerably.
conclusion, by the powera vested in them, they le a good one
the necessary staff, with a foreman at the head During the five years we have been working of each department, dockmasters, etc. / And well they don't count anyhow. The rains and plentiful crops mean peace. Drought season to June, shows that in Bangal the aclass than the present market quplation unless under the title of 5: C. Farobam, Bord & Co, we should then have a Board of outalde direc- for this silence is easily explained. The and scarcity mean robbery, brigandage, and tumia are fourteen lakhs of rupees above the the shareholders especially desire it and even Ltd. we have paid you back 85 per cent. of the tors elected from the agents of the shipping "wers making a four of the street, la- local disturbances which sometimes merge estimate, and in Bombay fire takht below the thes we would vote against it. I can only re Capital of the Company, In 1900 for the ten companies who give us work, and drawing the by their neighbours belongings. By into considerable internal convulsions.China net result being an improvement of about alas peat it is better to be sony now than to regras months we paid you 28 per cent, in 1901, we usual fees. With such an organisation wo Kiffacer one could sou what they thought of † 27mas,
pald 17 per cent, apoz we paid 13 per cent, i should, without losing efficiency, reduce the
who doubt the active and reactive affect of rain.
If there are some, even among foreigners, thought it necessary to publish it, at least for
GOOD DIVIDENDS. Gentlemen, we look upon this business as our creation and we take the credit of having
business we have faced it before and are facing With regard to competition, it is the soul of
it continuously, and the result is by no means disconcerting, besides our knowledge of the business should enable us to hold our own.
ENCOURAGING OUTLOOK... During the year under review, we have business has been deteriorating. Now I find From what I have said it is clear that our
and the value of these vessels disappear from hai has increased by nearly a million tons
since 19or, and I think it a fair proposition that the prosperity of u woll-manages Dock Company should be in some sort of ratio to the when we and our profits diminishing with an amount of shipping frequenting the ports and. increase to the shipping it would seat that there is something seriously wrong with the management. And