49
Chind Association.
ANNUAL MEETING.
A YEAR'S WORK. -
THE HONGKONG TELEGRAPH FRIDAY FEBRUARY 5 1909.
ed in its construction. When the Hongkong Government leat the money for its redemption the understanding was that the live was to be built, the project was Bot to be hang up or merely played with. For some time it looked as if the Chinese were merely playing with it. That was the impression which i received some two years ago when I paid a visit to railhead. year's annual meeting, after a year's absence in England and speaking with the greater free? dem of an ordinary member, I made a remark which was held anduly to disparage the pro-
CHINA PROVIDENT LOAN AND MORTGAGE CO., LTD.
ANNUAL 'REPORT.
CAMPBELL MOORE, & CO., LD.
ANNUAL MEETING.
HUMPHREYS ESTATE AND FINANCE COMPANY.
OPIUM IN INDIA.
The annual general meeting of the Hong] I was still under that impression when at last holders at the twelfth ordinary general mending i presided, and there were also present Mesurs, count their report, and statement.of ac-:) of plough is used now as was in vogue caQ+%
kong Branch of the China Association was held in the City Hall, last Tuesday afternoon. Mr. Murray Stewart, chairman of the committed, presided, and thers were also present Mr. H. E. Tomkins, Mr. O. H. Ross, Mr. J. W. C. Bonuar, Mr. W. G. Humphreys, Mr. E. Greas mado Barrett, Mr. H. R. B. Hancock, (Committee); "Mr. A. 5. D. Cousland (hon. secretary), Hob. Mr. W... Grasson, Hon. Mr. H. E. Pollock K.C., Metara. E. Shellim, J. R. M. Smith, J. O. Feter, C. S. Gubbay, J. Armstrong, W. S. Baller, D. K. Moss, . Macdonald, G. Merton Smith, JD. Auld, E F. Mackay, A. Forbes, 1. Cochrane, and E. A. G. May.
The tunneling difficulties which lie in wait, somewhere about the seventieth mile, and the heavy bridge work entailed by the crossing of the North River, will test the efficiency of their staff methods in due time, bui io the meantime the point I want to, make is that, in expert opinion, the work done, as far as it goes-lor the 45 miles of track at present laid-some bailasied, some not-some bridges permanent, others temporary-and for 35 miles of embank ment reported as being nearly completo beyond the work done does receive guarded came mendation. But that is no reason why we should refrain from criticising, on general lines, the directors' policy, if we consider it susceptible of improvement. Hence the comment in the re-. port.
I desire pow to make what amends i can by giving equal publicity to an opinion recently expressed by ae expert witness, a highly quall. fied railway engineer, that, judged on the lines which have been adopted by the management, progress may he regarded as not unsatisfactory. (Applause). This does not disprove the con tention that the Chisele, by themselves, can- not yet successfully undertake serious railway The Chairman said:-The notice calling enterprise, because of course they are employ this meating and the annual report having foreign engineers of various dationalities. tag been. together in your hands for some days I presume that the formality of reading them may be dispensed with, and accordingly I propose to proceed at once with our first business, the consideration of the report. In moving its adoption, I should per haps explain its form. Its form differs from that of most of those which have preceded it In Most of these have contained an appendix- which has appeared much of the years corres pondence. This time no 'letlers have been printed in full. The reason for that is twofold. For one thing the proportion of correspondence requiring to be treated as confidential was 1st year larger than usual. This is not in any degree due to a desire on the part of your committee to shroud their doings in mystery Confidential treatment of correspondence has in all cases been imposed upon us; wo merely keep faith is thus dealing with it. I mention this because I have seen it suggested that your Committee is absurdly enamoured of secre. tive methods. The notion is a mistaken one. Our correspondence is at all times open to the inspection of members, but Bil of li is not necessarily therefore suitable for publication. As regards corres- pondence not requiring to be treated cool. dentially, the reason why it does not appear is simply that it seemed on re-petusal to being popularity of the idea of issuing unsecured insufficiently interesting for reproduction in detail. As I am mainly responsible for this feel free to state the fact. By way of doing penance volunteered to wade Through these two formidable bandles of stale stuff which you see on the table, pick ing out the least uninteresting passages, and stringing them together in a brief relation of the year's work, thus enabling you rapidly to scan it, and to see at a glance, what we have been doing. My object was patience. Some of the patience thus saved will hope. he available for supplementary reference to the topics touched upon.
save your
Conchialog the remaining subjects with which it deals I have liule to add ; not because there is little to any, but because there is so mach ན་་ -
The subsidiary coin problem wo bave always with ss and shall have as long as the solution indicated in the report is delayed. That solu- tion tavolves the greater problem presented by the state of China's currency, If things, at their worst, are bound to mend, the state of China's currency may beoptimistically regarded. It is in state of indescribable chaos. With the increas notes in unlimited quantities all the forces of Confusion teem.Bow to be at work. Scores of dif lerent sorts of taels, dozens of doubtful kinds of dollars, an infinite variety of subsidiary coins, brass cash, copper cash, cash on strings or by. the cartload; dollar notas, notes representing sub coin, myriads of notes representing cash pietes, natives' orders, chops, and heaven knows what cist-All mixed up with the exchange pro
lems that arise between every town and village Rigantic conundrum, Native press telegrams throughout the Empire, combine to create a state that the new Thel coin which was to have made all these crookednesses straight has The first is for the moment threadbare... We already reached melting point it is melting sympathise with the desire of the British cem into thin air-vanishing in the glistening vision of a gold standard. This resuscitated dream munity of Tientsin to maintain n. British Post Office. We rest in hope. There is nothing represents a great idea, to be worked towards else to be done in the meantime. The same gradually, the first step an undoubted Imperial remark applies to the lottery ticker question, dollar. But even that would leave untouched while the adage "least said, soonest mended much ofthe general welter. So must wa precisely meets the present case of the boycon.do not propose to launch out on Concerning the problem of the protection of Trade Marks its vital importance to the pros pects of British commerce in the Far East need not be enlarged upon. Diplomatic conventions can do something towards solving it; bàcits complete solution depends more upon the advent of a worldwide spirit of fair play. For that we have still to pray.
the subject. of opium. To deal adequately with that would perhaps require a his torical survey trenching back through misty centuries to the time-when-Chinese- junks the Persian Gulf. I con traded as far west 65.
find myself to raising à point which seems some how to have received scast attention: It is this. How can the apologists of China acconcile ber claim to be protected from the Indian export with the fact that China herself exports the drug? One would have thought that the first Othing for China to have done would have
been to desist from the practice she s loudly complains of in others. It may be said that the amount is small; uti a matter of conscience there can be no dimensions, If, as is said, it is iniquitous that the indian Government should debauch the Chinese in China, is it not equally wrong of the Chinate Government to debauch its subjects in the Straits and in Indo-China, by conniving at the export thither of the home grown article? May we not reasonably ask as a preliminary that China should practice what she preaches? But in all matters relating to opium the Conference holds the field. The China Association may as well hold the breath. No words will be listened to until the results of the Shanghai symposium'are made koown.
Railway matters call for more detailed comment. The day when it will be pos sible to take ticket from Kowloon to Calala seems still provokingly remote. giant strides towards the realisation of this dream I wish we could hear more. As a be- ginning, I wish we could even see good reason. to belleve that it will soon be possible to takt a ticket from, Kowloon to Canton. I wish there were good grounds (pr hoping that the Chinese section of the live thither will be completed as soon as the British section. I wish we could ascertain that "the acquisition of the requisite land was being pushed forward vigorously. Unfortunately we know that it is nol. For some reason there is delay. Money for the purpose has been handed over i various instalments to the official respon sible, but still the business hangs fire, The difficulties of acquiring land for the Yuch Han Railway have been overcome with com parative ease. What is it that makes the diffi culties on the Chinese section of the Kowloon line so much more formidable? No wonder if In this Colony we ask the question with some impatience.
"
The
These are all the subjects upon wbich the report fouches. A final word of explanation is needful concerning the many interesting sub jects upon which it does not touch. The num- ber of these is perhaps the most remarkable exciting As regards the reference in the report thing about it. There are, no to the work of construction on the Kwang excursions into high Chinese politics. At tung section of the Canton-Hankow railway this distance from the capital we labour a word of explanation is necessary.
under great disadvantages in making them. rapid progress recently made was noted with Even in Peking there is apparently some Batisfaction. The particulars are public pro difficulty in obtaining sale news. And there is perty. Fony-four miles of track are open manifestly far greater difficulty in forming views which are not liable to be upset. Again ip traffic: Two trains rao daily over the whole distance. Each way the journey takes occurs it commonplace-doubi, prevalent three hours. This does not exactly indicate after the Boxer rising, as to whether y the top speed of the train. In the 44 miles are foreigner has ever yet succeeded in under- 1a stoppages. Additional trains run regularly standing the workings of the Chinese mind. to a hallway station some zo odd miles out from
To this doubt is mainly due the circumstance Canton. Already the stimulating effect is ap that the events which three months ago startled parent. It is not only that villagers throng the world led to no pronouncements from here. the train. That fact is patent to any casual The death of the late Emperor and of the Em observer, A fact not so readily fealised is that
press Dowager-the peaceful transference of there is also the beginning of a local freight the reins of power-the subsequent fall of traffic-cattle and vegetables coming into Cau
Yuse and his exit from the Peking stage-of ton from the country-fish going out to inland all these dramatic incidents no word was said. villages. As a local line the success of the If anything required to be said it was clearly undertaking is already assured. Précisely
the more difficult basiness of our colleagues in because of that there is danger. There is dan the North to say is. We have kept strictly to gar lest the management should see no further
our own business down South. Our task has than that. The directors are drawn chiefly been light because with very few exceptions from the local gentry and merchants. It such incidents as have arisen to threaten probable that few of them have travelled wide- good relations with the Canton authorities, y. It is possible that some of them have have been successfully dealt with through never travelled at all, It is therefore open the ordinary official channels, and comment to doubt whether they realise, to the full from us was fous rendered needless. How the possibilities opening out of the liulelight our task has been is made manifest by station yard at Woogsha. Failure to realise the modest proportions of the report, the those possibilities now will result in curtailing adoption of which, together with the accounts, them hereafter. If the railway is ever
I now formally move.." (Loud applause). operated as part of a great trunk line and a
Hog. Mr. Pollock addressed a low remarks to run simultaneously, pertinent to the chairman's address and con large local traffic double track in the Immediate vicinity of cluded by seconding the motion, which was Canton will become a necessity, and there unanimously carried. will be pressing need for more room at On the motion of Mr. Forbes seconded by the terminus. It will be well for the future. Mr. Shellim a number of gentlemen wors ap of the enterprise if these, things are realis pointed the Committee for the current year.
The report for presentation to the share-last Friday afternoon. Mr. A. F. Arcullimit to
F. Elils (director), L. Bortello, A. R. Ellis, A. 5. Ellis and A. OD. Gourdini
Annexed we have the pleasure to lay before to be held on Saturday next is as follows:→→ shareholders a statement of accounts made up
1st December 1908.
to
a
Writing of peppy culture and oplum mant factare in India, the American Consul General; The report of the Directors for the year end of Calcutta says that deep ploughing is prac The twenty-second ordinary meating of shareholders in the above Company was holding 31st December, 1908, is as follows
Gentlemen, The Directors now beg to subtised for the poppy, which is not the case with any other crop grown in India the sarıq kind at the office of the General Managers
you
the year ending 31st December, turies ago. It is a rudely constructed Impla meat with one handle, a shaft, and the share 1908. 26
The net profit for that peried
beam. The last is usually made of the babal: meant to
tree, because it is tough, A long pointed pleca To which has to be added the
of the iron is attached to the share, beam to protect the wood, and to enable the plough to balance brought forward from last account,
sink more deeply into the ground. This plough is drawn by two bullocks. The lánd Making a total available for ap
is then barrowed; and it is ready for irrigation, propriation of........
which is accomplished by drawing water from
The Chairman, after having read the notice convening the meeting, said Gentlemen,— The gross earplugs for the past year amount The report and accounts have been in your hands 10 $193,273.18 and after deducting all expenses, for some days, and, with your permission, they that the account is so unfavourable, The re- remuneration to General Managers, Consulting may be considered at read... We are very sony Committee's and Auditors' fees, there reminina
in trade, and mismanagement by the Inst balance of 5113,407.68, which it is recom-sult is attributed to competition, depression meaded be appropriated as follows, viz:-
To place to reserve fund..... $10,000.00 manager. Since the middle of 1907 and the whole of last year every effort has been made To pay a dividend of Bo cents per
to reduce the stock. The accounts for the year sbare kunder $100,000.00
1908 will be ready voty shortly. By the time To carry forward to the credit of
next year's account,
of the meeting to pass those accounts I think the general manager will be able to give you' a better idea of our prospects. The mis management of our former secretary and geatiemen, so it is hardly necessary that. I manager has been explained to you before, should recapitulate. If there is any other matter that you require explained, I shall do my best to enlighten you..
$9,407.68
" CONSULTING COMMITTEE. In accordance with the Articles of Associa tion, Messrs. J. S. Van Buren, Chow Hing Kee, Dr. J. W. Noble, H. P. White and U Poi On retire, but offer themselves for re-election. 'AUDITORS.
The accounts have been audited by Meira. A. O'D. Gourdin and W. H. Potts, who are recommanded for re-election.
To cover depreciation on investments (amounting to $73,150000) and other contin genties, $30,000,00 has been withdrawn from the reserve fund which will now stand at $100,000.00.
SHEWAN TOMES & CO. General Managers.
Hongkong, 29th January, 1909.
PROFIT AND LOSS,"
Consalting committee's feas$ Auditors' tech Charges. Depreciation on godown, fumiture "for the year 1908 Japan momen Written off to doubtful debts and
contingencies account Balance
་ ་
4,000.00
200,00 7:525.22
31325
'.
30,000.00 113,407,68
$135,446.05
The Chairman, in reply to a question by Mr. Gourdin, said- don't think going in
The Chairman proposed the adoption of the details would benefit anybody.
report and accounts.
Mr. Borrello seconded the motion, which was carried unanimously.
Mr. F. Ellis proposed the re-appointment of Mr. A. O'D. Gourdin.as auditor.
The Chairman-1.hayo much pleasure in seconding the motion, and I take this oppor tunity of expressing my appreciation of bis services, and of thanking him for the great assistance he has given to the Board of Directors.
Y
The motion was carried unanimously, "The Chairman-Thank you very much for your attendance, gentlemen. I think we can all hope for bright prospects in 1903.
Balance cariled forward from last
year 3,593.29 laterett received, storages, rents, ..178,592.18 Less interest paid, com.
mission, &c........... 68,170.43 Transfer feels adien Investment income account........ Amount, transferred from reserve fund to meet contingencies and depreciation on shares.
30,000.00 $155,446:05
OPIUM IN MANILA.
BEAVY SENTENCE ON 'A HONGKONG
.ENGINEER.
A fine of F500 has been assessed against Alexander McCormick, the second engineer of the Rubi charged and found guilty of the illegal possession of 70 tins of opium. lo 110,327,76 banding down his decision in the case, says the 11.00 Cablenews, Judge Smith found that the charges 11,620,00 made had been proved; that the opium had heen found as charged and as admitted by the defendant himself testifying on his own behall. The extent of the guilt of the accused was the point the judge took most under consideration and from that consideration came to the con- clusion that the accused had not made a satis« possession of factory explanation of the the prescribed drug. The accused tried to induce the court to believe that he was tak ing it to turn it over to the officer of the law when he was found with it in his possession in $1,250,000.00 order to secure a reward focits discovery. But in 93,000.00 view of the fact that McCormick had not made Reserve fund.............
352,301.06 Sundry-creditors.
any attempt to justify his possession at the time Dalance of profit and loss account 113,407.68 he was found with it by the secret-service- agents of the customs authorities, the judge $1,805,708-74 concluded that "Under these circumstances it is manifest that the aforesaid explanation of the defendant could not and cannot convince a man of average intelligence and integrity of the good faith of defendant's claim here.
BALANCE SHEET.
Authorised capital-200,000 shares st $ra-$2,000,000 issued as per last report 125,000 shares at Sie each
Loanson providentsys.
tem
17.09 Loanach mortgages,
shares, &c........................ 674,955.37 Investment of reserve
25,000.00
fund 8,800 shares Green Island Ca- ment Co., Ltd. at $10...$ 83,000.00 250 China Light and Power Co Ltd. Denbentures $1a-su-4*
Property ai West Point (Po-On Godowns And
olber
pro- perty).1654,250,00 Since expended .......................... + 1735.86 $856,035.86, Less on tnortgage 450,000.00
#1
4,507 shares Chioa
Light and Power: Co., Ld. at
$5.00 Godown furniture... 2,313.15 Less depreciation... 313.15 Proportion of premium on un».
expired polícies............................... Sundry debtor Cash in hand.....$6,055.15 Cash at godownung.........
200,00
$1,194.482.40
THE COLONial cemeteRY,
REPLIES TO MR. SHELTON HOOPER'S QUESTIONS.
At the meeting of the Sanitary Board last Tuesday afterogen, Mr. A. Shelton Booper, pursuant to notice, asked —
The trial of Chief Officer Lawson for inter fering with ao officer in the discharge of his duties resulted in a conviction and a fine of Papo,
TRADE PROSPEGIS IN JAPAN,
$90,855.04
$ 4,621,11
$95,480.83
The Directors recommend that a dividend of six pot cant on the capital be paid to share holders, absorbing $90,000.00, and that the balance of $5485.15 be carried to a new profit and loss account
ACCOUNTS.
By a resolution of shareholdere passed on the 8th October last the amount of $50,000.00 dividend feed was transferred to typhoon and standing at the credit of equalisation of floods laurance fund. The amount at credit of this fand has since been reduced by S6,738.06 which represents the amount already paid on account of damage caused by the typhoon and pods of July last. Only part of the damage has, so far, been made good, and it will ba accessary to further, entreach on this fuad to the extent of about $10,000.00.
- DIRECTORS. !
Mr. A G. Wood having resigned on leaving the Colony, Mr. J. W. C. Bonnar, was invited to join the Board in bis place. The Directors now are:-Hon. Mr. H. A. W. Slade, Dr. J. W. Noble, Messt. J. Scott Harston, J. S. Van Duren, J. W. O. Bonnar, and Ho Tung, who retire, but being eligible, offer themselves for
re-election.
AUDITORS.
Unclaimed dividenda..... Profit and loss account-
Brought forward from
1907...............$4,621.
For the year 1908......90,865.04
Assets.
*
|
well with two bullocks, and running it through a sluice to the land. The patch of land, from cap-third to two-thirds of an acroj is saro rounded by an embankment, which defines tha boundary, helps the water for foundation, and serves as pathways. One well can be made to serve twenty to thirty farms of one "bengah," that is, one-third of an acre in extent There are thousands of these wells throughout India crop. They are comparatively cheap and con used for irrigation In growing every kind of venient, as the farmers dig and equip the wella, and breed the bullocks themselves, so that well irrigation is the cheapest. Moreover, the Go- vernment can impose so tax for the water, as lu
·tanks or rosarvairs, or from canals. There are dose when it is supplied from Government 25,500,000 acres of land in ladia Irrigated by wall and private irrigation. The poppy mood is mixed with sand, so that it will not be sown 100 thickly, and one-third of the mixture le scat lored over the prepared ground and the other wo-thirds hald for future sowing on the same sait. The farmer then gives the ground a watering. When the soll is dried out to sama, extent, he again ploughs the land, but not so
other third of the mixture of sand and poppy need which is treated as the first third. Then follows the sowing of the last third, and similar treatment. Three pounds of poppy seed will
deeply as at first, harrows, and then sows an
SOW A
The accounts have been audited by Massre. W. H. Polts and H. Percy Smith, F.C.A., who
'beegah." In a few days, the sends offer themselves for re-election...
sprout and send up rich green shoots. Then HENRY HUMPHREYS, comes the particular work of thinning out the
Chairman.
sprouts. To accomplish this, the womsa and children crawl along much in the same way as Hongkong, 16th january, 1909,
is done in weeding and thinning sugar beeta, In about thirteen weaks the fields are in a Balance Sheet 31st December, 1908. Liabilition.
beautiful white bloom, for the white poppy is the one richest in opium, and women and children- Capital Account;-
150,000 shares @ $10.00 each...51,500,000.00 are set to work gathering the heads... They are Insurance reserve lund............... a22,173,12 carefully packed in baskets, and later made into ratis which look like bread caker, eight or 43,261.94 Typhoon and flood insurance fund
30,000.00 ten poppy heads being baked in ons cake. The Mortgage.......................................
128,043.75
cakes are reduced to powder and afterwarde Sundry creditors
4,354.39 mixed with the liquid opium in the factory, When the crop of poppy hands is gathered, work begins in the opium kothi which is a shed made of bamboos and thatched with grass, The heads are punctured with four needles 95.426.16 tied in a bundle, and laid aside, for juice to ooze out during the night. The juice thus ob $3,025,315.35tained is carefully scooped up and preserved in an earthen jar. A poppy head will stand Amount invested in property......St,yor,082.85m five to ix puseurings, which are made Amount invested on mortgage 302,213.57ary other day, by which time the head bas 17,609.15 yielded all the juice that will oose out, The. Accounts receivable ........................
then broken off and the stalks mado 584.76 heads Fire Insurance promin, unexpired
128,00 into bundles; for both the heads and stalks aro Office furniture
sold to Government. After the crop has been thas gathered and put into marketable shape the Government officer comes into the neigh bourbood, and sends word that he is ready to lest, weigh, and pay for the oplom produced. The old factory at Patos is one of the largest factories in Bengal, as well as cas of the oldest.. Here the crudo opium is again tested and then pat into large vats which are slightly heated. Rakes are then used in stirring and in equalising the fluid preparatory to its being boiled, and the powdered pods put in to thicken it. When the maks is of the proper thickness it is taken out and put into earthen moulds, where it remains 8,000.00 until it becomes quite hard. Then it in 51352.08 squeezed into the shape of bills the size of 320.00 small apples. These balls are dried in the 95.486.15 sup, and afterwards stored away in a room, on sbalvas one above the other. When it is ready. $122,880.04 to pack.in chests, a native climbs from tier to tier forty feet above the cement floor, and drops ball ofter ball in quick succession, 5.4,621.11--these being caught by a native below, 94,070.05 Gotll all the shelves are emptyNear the 23,911,95 opium factory is a saw mill, where the wood li 186.00 cut in proper lengths.and made into bdxes. In 90.98 these boxes the opium is packed for shipment and home consumption. The odour of opium $122,880.04 arising from the factory can be detected along-
way off, and a visitor to the factory will soon
Cash in Hongkong and Shangha
Bank and on hand.................
1,397.63
$1,73,315,35
PROFIT AND LOSS ACCOUNT." For the Year ending 31st December; 1908. Dr. To five insurance premia............$ To crown rest da
To general charges. To allowance to general managers to cover office rent and salaries of secretary and clerks.............................. To repairs...... To auditors' fees.... To balance..
:
1907....
Cr.
F:
5,687.05 5,168,06 2,886.70
WOMAN'S PROgress in chinA,
A NEWSPAPER FOR THE FAIN SEX. Of the many signs of progress in China, says the Straits Echo, one of the most interesting and unique is the editing and publishing of a daily newspaper by a woman, named Mrs. Chang, a native af Peking. After marriage to a Chinese official, says the Sunday at Home, she spent several years in Central Chios, where she learned mach about the condition of the people; and subsequently, upon the death of her husband, returned once more lo her native city in North China...
Meanwhile, Mrs. Chang's mind had become intent on the progress of her country, and like, wise convinced that, development was largely possible by the removal, of prejudice and superstition, and also through the uplifting of ber sex, she courageously decided to start a Woman's News, which, on its own lines, is daily newspaper for women called the Peking without a rival in the whole world. Upon the appearance of the paper it is said that even educated Peking looked on with mild surprise, Mrs. Chang forcibly argues that, if China is to challenge successfully foreign aggression, vigorous, healthy men, China must have cor the must become strong; and in order to have respondingly strong, healthy mothers; hence, foot-binding must go, and physical culture and hygiene have place in the schools. Further, that China's, men may be the equal of other nations, women's training ought to begin in the home, supplemented by schools for girls and the establishment of lecture balls for women.....
realise a sense of drowsiness, as if he had taken
a dose of laudanum.
THE OŠÁKA SHOSEN KAISHA,
MR. NAKADASHI ON SHIPPING DEPRESSION. The half-yearly general meeting of the Osaka Shosen Kaisha held on Saturday approved the report and accounts recommending a dividend at the rate of 6 per cent, per annum, reports the Japan Chronicle of 26th alt. It would seem that the result of the company's work log for the period under review was not very satisfactory, due in large part to the gen eral depression of trade and the Chinese boycott of Japanese goods, which serious. ly affected trade with China The Visdi vostok and Korean lines also suffered of vessels employed by the company during from the trade depression. The number
of 118,264. They carried 935,647, passengers the period was 114, with an aggregate tonnage and 14,253,930 packages of cargo, receipts from these two sources amounting to., Y4,671,319– which with sundry receipts made up a total of Y5,861,221., Compared with the preceding period the number of passengers carried show. ad a falling off of 133.042 and the cargo a decrease of 937,513 packages, the total revocus being less by Y145.965, but a saving in ex- panses of Y367,298 was effected, and the profit amounted to Y1,506,303,
The following editorial appears in a recent issue of the Bombay Gazette:-The sudden depression in trade which affected the whole 113,000,00 world, came especially heavily on Japan, be
cause it found the country sucked into a whirl- -pool of mad speculation, Bank failures were numerous and the lessons taught, 30 stern-that--By-balance brought_forward_from_ both merchants and the public have become, if anything, over-cautions. Little by little con- By rents fidence is returning, but the movement is ex-By interest............. ceedingly slow, and it is forecasted that years By transfer fees.................” --...
By commission. 405,035.86must elapse before a return can be made, to the state existing before speculation worked havoc. There are signs that the leading financial and commercial firms are taking 22,503.00 the very sound view that it is 'better to re- cover slowly and thoroughly thao to make too 2,000,00 great haste fest a false step should cause an. other period of depression. One significant feature is that the American entexte had ... 1,141.59 practically no effect on the markets, though 60,393.74 France has since become a more active buyer of Japanese Boads and other countries are following the example, The explanation of 6,255:15 the French purchases is probably to be found in a growing disinclination in France to invest $1,805,708.74 1o Germany and Japan offers a good substitute. If this attitude of French capitalists should -continue, the introduction of French funds in to Japan will be vastly facilitated, the enormous wealth of the Republic being well known. As might be expected, the increased demand for Japanese Bonds abroad has favourably affected the market in Japan and prices show an upward tendency. During November, the export of Japanese Boads to England alone large orders have been recaived from France reached about £200,000, and a number of and America, Commerce, however, is little affected by the larger call for Bonds and several of the larger companies are writing down their capital. The end of the year saw at least one large failure in the Imperial Petroleum Com- short life with a capital of pany which in 1907 decreased its capital by nearly half after one million Yeo. The place where one might expect a brighter outlook offers no encourage ment. The financial writer of a Kobe journal says that it is very long since the country's trade with China entered such a dull stage, oning in the first place to the boycott set up in South China and the fall of silver. Finding it diindvantageous to carry on transactions with Chinese merchants in Japan alone, the Japan- ese marine producis merchants have made efforts to start a direct export business, They asked the Milani Bussan Kairha for assistance,
The import of flour into Japan has shown a and the Kaisha agreed to let its branch at 3. The form of permit was issued by the Hongkong deal with their goods. Besides, Mr, gradual decrease since 1953. The decrease is Registrar-General, the M.O.H. having no SAD. Adachi and Mr. Ito, marine products exportain due to the development of the four-mill tary objections. The issuing, of this permit at Yokohama, and Mr. Kobayashi, a drug ex-indudry in Japan, which, furthermore, is suffer ad and acted upon promptly. The price of
was a continuation of the practice that obtained porter there, have tried direct, export, entering ing from over-production with the result that both land and labour will rise as the in-
under the old-bye-laws. Printed copies of the into a contract with the Onishi Shoten at Hong- the import of wheat also shows a decrease. In in working expenses the result for the last half. Auence of increased facilities of communica
new bye-laws were not circulated till Decem-keng. The results to far, are said to have been 1903 the Import amounted to over 500,000 ber 3oib, tlon makes itself felt, The, directors should
very gand. As is always the case, the ship koku, but last year it declined to.about 222,000 look ahead. They have the history of the
4. No,
building industry is suffering, but, as we have koku. This is attributed partly to an increased A NEW MEMBER. -shortsightedness of any number of other
pointed out on several occasions, the bounty cultivation of wheat in Japan. The import of ploneer directors, similarly situated in other
THE JAPAN BOYCOTT. system has had a very bad effect on Japanese flour each year during the past eleven years countries, to guide them. The criticism thus The first meeting of the Sanitary Board
shipbuilding by securing a large fleet of expen was as follows ~~ elaborated is made in no carping spirit. It is since the Election took place at the Beard's
sive boats chiefly designed for speed instead of COUNT KOMUKa's statement."- made in a friendly spirit. It is not made be- offices last Tuesday afternoon, when Dr. G. H.
building with a view to the profitable carriage Cause this Association has in former years L. Fitzwilliams, the newly-appointed member,
cargo. The effects of the system were pat- Tokio, January 26.- committed itself to the opinion that the Chi- made bis first appearance. Mr. R.D. Hutchi
Coust Komora, Minister of Foreign Afairs, ent to anyone who cared to examine the condi nese would be wise to entrust the building of son, Acting Head of the Sanitary Department, the whole line from Hankow to Canton to a delivered a short, valedictory address, in which said, at a meeting of the Committee of the float, and little sympathy, therefore, need be foreign contractor. We may hold to that he said that the last Election was more im House of Representatives, that the boycott of felt for those who are now suffering from a Generally speaking, the prospects.of the com oplaton and yet, realising the uselessaces. ol..portant than usual and took the opportunity of Japanese goods in South China, was practically reaction from a foolish and greedy policy. putting it forward at the present time, accept the congraininting Mr. Shelion Hooper and Dr. ended.
Headded that he did not expect that anying year if not brilliant arm, stijl, not black and position that the people of Kwangtung prefer to Fitzwilliams or their saccasual return." He build their own railways' and with them sua trusted that the former would continue his anti-Japanese legislation by California alone the opening of the Dlot and publication of the would affect the relations of America and Japan. Government policy of retrenchment which is
D. NO
promised may have a greatly revivifylor effect..
15
bo
SANITARY BOARD.
cess. But our faterest in the progreistol the good work and that it would be a pleasure to Rios (ustifies criticism of the methods employ. - the latter to benefit the Colony,
(1.) It is a fact that permission of any officer of the Sanitary Department or other Govern meat has been granted for the exhumation, of any corpse in any Chineso. Cemetery and for its re-interment in the Colonial Cemetery, Happy Valley, commonly known as the Protestant Cemetery, since the passing of the Poblic Health and Buildings Amendment Ordinance 19087
(2.) If so, what is the number of such cases, and dates of each ?
(3.) Who was the officer who granted the permits and by whal authority did he do so?
(4) Has any portion of the Colonial Ceme. tery been reserved for such re-interments referred to in question No. 1?
The following were the replies:--
You
1.
2. Oat. The permit was issued on Decem- ber 19th, 1908.
THE IMPORT OF BLOUR;
Yaar.
1899 1900
Quantity,
155,824 koku .....116,034 337,805 242,478
38,245.
1900
1903.
1903..
1904
1909
1906
· 1997usi
15:450- 638,299| Min$93,355.
1905
In his address to the shareholders, Mr. Nakabashi, president of the company, said the depression in the carrying trade had been so bad during the last period that steamers to a total tonnage of 50,000 (owned by private individuals) were laid up idle towards the end of last year. Adding the tonnage of steamers which were laid up ostensibly for repair and other reasons, the total: tonnage of steamers unemployed reached ro0,000. Buch being the condition of the shipping basiness during the period, the company's revenus foli off to below the figures for the preceding period, but an economy of over Y300,000 having been affected year was somewhat better than for, the preced- Ing period. Mr. Nakabashi thought that the depression in the shipping trade had, now, reached a turning point and a revival of sc tivity might be expected in the second half of the present year,
Referring to the opening of the company's American service, Mr. Nakabashi said that tha completion of the American railway with which it was arranged the company's steamers should run la connection would, it waaythought, be delayed by about two months, la consequence, the time for completing the steamers ordered. by the company from the Mian - Bishi and Kawasaki yards, had been extended, exception being made in the case of the Tasema, which was expected to be launched on the 4th of bert month at the Miten Birki gard et Nagasaki, 20