My Eccentric Friend.
▲ CONVERSATION OF TITE PRAVA.
THE HONGKONG TELEGRAPH FRIDAY MAY
THE FARIS TOILET COMPANY,
LIMITED S
LIVELY PROCEEDINGS.
The third general meeting of shareholders was held last Saturday afternoon, at the register ed office of the Company, for the purpose of m. calvinga statement of accounts and the report of the general managers for the year ending 311 December, 1958, and electing an auditor. Mr. H. Percy Smith presided. There were also present:-Messrs. J. B. Seth, C. Soil, Charles Metaloger, W. Schmidt, E. G. Smith, J. C. Schiers, Li Fuk Tau, Leung Wing Cheang, As Marçal and J. O. Scpiess, manager
The Chairman read the notice calling the meeting.
The Chairman-Geollamen, you have had the report and accounts in your hands for some time. With your permission. I will follow, the usual custom, and assume that you will take the raport and accounts at read. In the report wo have endeavourd so far as possible to explain
While out for a constitutional the other after- noon I was approached by a friend on Blake Pler, who laquired of me how I passed my days during the sweltering heat of summer He gave me to understand that he did not belong to the Hongkong Club-a fact which I could easily understand he did outlive with the gods-by which I concluded that he did not class himself with the gentry residing at what is known to be the Peak. He was not a director of, so he tormed it, any of " your local Imeté." He had come out to this "exile nof two years ago to join a good firm he held fair position, and his monthly." whock" was sufficient to keep him comfortably he was not married; did not leave a castle at home, as most people, he asserted, believe they do when they come to Hongkong. He did not frequent public houser, neither did he drink champagne nor other wet of the kind. But all he wished to know was tow I kept myself in summer.
I was standing on the Pier watching BUCY launches coming and going; gazing, perhaps with envy, at the life of this island leaving
No questions were asked. picole bapt. The sun was sinking low on the
The Chaliman propose the adoption of horizon and a golden streams were playing on the placid waters. At my right was a large the report and accounts at already in your hand. Mr. Scpless (manager)- would like to ask junk all ready to leave for somewhere I know something personal to me. I would like to have not where. Infront of me was an occin tramp more facility of the books, and more under- entering port, crawling carefully to her an-standing of the affairs of the company at the end chorage. By these things interested me pet.
As I stated before i was on the pier, leaning of the month. Since last year in June I asked you for monthly returns and the month's ax. up against the railing, thinking of dear, uld
penses and the month's takings. I must hava home, I have been exiled in this forsaken
ibat. If you 'take me as manager you must country for a matter, of nearly ten years, and
give me what you are taking in. I don't know was past making up my mind whether to clear
whether there is a cent in the bank or not. cannot keep up the manager if I don't get
out
Op
when the time comes, or to stick on for another term, when I received a small top back, Turning round quickly I met my my friend, and forthe space of about balf an hour had to listen to his conversation, which I have already detailid at the beginning of this article. My friend," I was ball inclined to say when be questioned me about the summer, "keep cool. But I look pity on the "poor" individual; and spoke to him like a father.
"Do you ride?" I asked him, "if so Mr. Geg of Kennedy's Stables could fix you up."
*
He could ride, but did not want to appear in the ayes of the local scandal-mongers and match-makete to be a millionaire.
"Do you golf?
He could not see the fun in chasing a ball around a field, and appear an idiot."
"Are you a member of the swimming club? *Look here, old chap, don't irritate a man with those idiotic questions," he replied some what pastily, "You yourself don't follow any. of them."
I was going to say something sarcastic in raturo, when all of a sudden tramembered 1 was highly interested in railway. work. thought I had him there. "Are you interested la transportation?" was my first shot,
"What do you mean by transportation ?" was the imbecile reply.
|
By Stock in bind
As per manager's certificate...£.877.03 By Sandry debtors .....................
By Unexpired insuradco premia By Passagoanime By Cash at Bak... By Cash in hand By Goodwill:-
As per last account...... 5,34014) Lais account written off: 340.14
WATKINS, LIMITED.
MEGANNUAL REPORT!
1,393.50 125,42
300.00 The report of the general managers to be 971.07, presented at the teath ordinary annual meeting 175.33 of shareholders to be held at the Company's office at noon, on Saturday, 29th May, 1909,
5,000.00 $19,397.04
SERIOUS ACCIDENT AT THE
HONGKONG HOTEL.
FITTER FALLS POURTHIN FEET WHILE
ATTENDING TO ICE PLANT.
An accident, which may perhaps have fatal the reason why we are not able to show profit results, took place at an early hour this morn- to pay a fair dividend, and I wish further tong. The victim was the No, a fitter, U Kan, add that I shall be pleased to naswar any ques... | in the employ of the Hongkong Hotel. The tions and remarks that may be made.
unfortunato man was engaged at x am to day adjusting's leather bell on the ice plant, when he leal his balance and fell to the ground, a drop of about fourteen feet. de landed on bis keid, and became unconscious. Dr. Marriott attended to the izjured man temporarily, after which he was taken to the Government Civil Hospital by Detective Sergeant. J. Wat where he now lies lo a precarious condition. The fitter was about twenty-nine years of age.
1
1 must have the expenses of every month, where the expenses go to, and whether I can spend à cent or not. I don't know if you can get a manager to go on like it. I asked in June last. I have asked for the whole yaar, for nothing.
The Chairmao-Personally, Mr. Scpiess, I do not know that you had any information to ask for, and as you actually make up the statement' of the expenses, I should have thought that you know everything that was being done, and 'we shall like to know everything you want.
Mr Scpless remarked that he had wanted a special meeting of the shareholders, because he wanted to know what was going on.
At this stage some private conversation took place between the general managers.
The Chalan-You make out all the ex- peoses every month, and are in a position to know what those expenses are.
Mr. Scpless-All the information is given to you.
The Chairman-If you had not had that io Iformation before you will have it in future. Al regards the half-yearly meeting say at once I consider it was quite unnecessary to have a ball-yearly meeting for such a small company. And I do not hesitate to say that the shareholders will agree with me. It will be a ridiculous thing to waste shareholders' time lo such a way."
I reminded him of the fact that the railway, which was transportation, to Canton was about to run, and it he had never set ayes on the Southern capital, we abould take occasional" trips across the water and view some of those bridges, which would interest him, and which would be the means of pausing time, not to mention brightening his education on bridge building.
Ob, indeed, he answered, "what's the price for au aeroplano?".
Was that sarcasm,, huniaur or defection? When a man comes to that stage he is incor- rigible. I left him to his own devices. At the Name time still wonder if he was not a builder in Spain what was he?-Communicated,
PHILIPPINE SUGAR.
TO BE ADMITTED INTO, AMERICA FREE. OF ALL DUTY..
The action of the Sazalo Finance Committee
has made it morally certain that Philippine ugar will be admitted to this country free of duty to an amount not exceeding 306,000 tons . year, which is more than the idlands can supply us at present, reports the San Francisco Chronicle. That is a very liberal present, for the national revenues are' in a bad way and this. admission; if fall advantage of it is inken, will require the American people to fax themselves on something else to the amount of say $2,000,006 Dually to make good the loss of duty, or probably 20 per cent. less than that If it is Coban sugar that in displaced. As a
matter of fact, it will not displace any sugar now supplied, for our increasing population will gopiums all the sugar which we can pro duces well as all that we Import, and so this free sugar importation of 300,000 tons will not lower the price of sugar in this country. And, whether it does or not, and whelbar we like to make good the revenue deficit or not, it is the legitimate consequence of our annexa tion of the Philippines. If we did not desire to admit their products free, we should mot have annexed the islands. Nevertheless, the Filipinos mest understand that "they cannot get the full benefit of our markets without nitimately paying their share of the national expenses and giving us the full freedom of
'their markets,
وا
י
Mr. Scpiess- am the manager, and if the shareholders will agree to it, I must go back, That sell. Some of the shareholders very seldom come into the saloon.
Mr Seth said it was a great mistake that nething had been said before on this subject. The maangor could always see the books when ba wanted to do so.
Mr. Enos Seth held that the general mon gors had always looked after the best interests of the company.
+-
COMMERCIAL UNIVERSITY,
* IN JAPAN.
OPINIONS, PRO AND CON.
As already noticed in these columns, the question of the establishment of Com mercial University has raised quite a storm in educational circle, and the necess sily or otherwise of the proposed institu tion is discussed with much interest In this connection the Nicht Nichi has collected and pubished the views of a bumber of promí. pent busines-men. It is instructive to noto that of the opinions of twelve business-men which have so far been published, the support. ers and opponents of a commercial University are nearly baleced in strength-that is seven are against and five are in favour of the proposition. The latter comprian Barun Matsuo, President of the Bank of Japan, Mr. T. Abe, President of the Meiji Fire and Life Insurance Company, Mr. A. Fukuhara; President of the Teikoku Life Insurance.Com pany, Mr. B. Nakano, Chairman of the Tokyo Chamber of Commerce, and Mr. J. Kadono; while among those who are opposed are Baron K. Takahashi, Vice-President of the Book of Japan, Mr. R. Teyokawa, head of the. Mitau Bihi Bank, Mr.. H, Hibiya, President of the Kanegafuchi Colton Spinning Mill Company, Mr. Z. Yasuds head of the Yasuda Bank, and Mr. H. Shods, of the Mitau Bisbi firm. From perumal of the arguments advanced by both sides it would seem that these put forward by the supporters of the scheme are of a general or rather vague character, and it looks as if they. are pleading for a weak cipte, while the argu ments of the opponents appear to be mare de finite and much stronger. Those who belong to the latter category agree in the opinion that if the object of the proposed University is the education of men capable of active participa tion in basiness there exisit absolutely conced for such an establishment. It is not yet definite ly known what kind of science. Te to be laught in the University, but it is probable that political economy and social science would occupy the foremost place la its curriculum, Those who have made en exclusive study of these sciences may be, apt as scholars, but are likely to turn out a faliore if they engage in practical business. Even the education now The Chairman You certainly never asked provided bythe Higher Commercial School is me at any time la respect of a balf-yearly meet-thought by many as too scholarly to be useful 10g, which I considered unnecessay and which in business life. What is most useded ip busi nces is a well-balanced common sense and an the shareholders'agree with me.
intimate acquaintance with general worldly The Chairman: I beg to propose the adop affairs. Theis is no need forprofound theoretical knowledge. Again, people who wish to engage tion of the report and accounts
in business should begin.their career while young-that is, in their leaps. For this resson the system of apprenticeship is most suited for business or inade. By the time men had gra duated from the present Higher Commer ciel School the most efficient age in. which to obtain experience in busineis" his al- paned, and this would be still ready more accentuated in the case of graduates from a Dalvérsity. Even in the Army and Navy much importance is attached to practical experience, as is shown by the constant prac The general managers beg to submit to the tice of maiœuvres and cruises and it is gen. bareholders their repost on the company's crally admitted that such knowledge is best business for the year ending 31st December, scquired at the age of 20 or 21. This principle 1908, with a statement of accounts to that date, can be nochore truer that in the field of busi
We regret we are unable to show a large ness." It has been abundantly shown by ex- profit on the year's working in spite of doing a perience that fow man who begin their business greater volume of business but our expense career after the age of zo become efficient busį. have increased considerably although we have, sessmen. If the object of the Government is with the help of your manager, Mr. J. O.]the training of practical business-meo and Sepless, done what we could to reduce them not the misafacture of scholars, the course. Our proft op sales has been curtailed by the of education provided by the existing schools great drop in exchange and by the-high price is already complete enough, and there is ab. of hair at present prevailing in Europe.
solutely no
Mr. Scpiess: If you want to be general manager in the shop, you want to know what is being spent. ..
The Chairman: What grievance have you got?
want to know what money is Mr. Scpless: spent.
Mr. Seth: The books are open to inspection at any time.
No other questions were asked.
Mr Li Fuk Tsau seconded,
The molion was unanimously carried. On the motion of Mr. Great Smith seconded by Mr. Seth, Mr. Cox-Edwards was re-elected auditor,
The Chalyman: Gentlemen, 1 bare to thank you for your attendance. That there is no divideed will enable us to hope for the best
bext year.
PANNUAL REPORT,
"The asadal report is as follows 1.
The net profit for the year· including $58.82 a higher ressity for the establishment of
brought forward from last account amounts to S18,16 which we propose to carry forward to next year.
AUDITOR.
Bat a market for 300,000 tons of sugar' ia our protected country is a thing well worth having."Fair refining sugar is worth in New York to-day about 3 cents a pound and centrifugals about 4 cents. At present "Philippius sugar is mostly rather low grade, but access to our markets will justify modern plants. Anaming that in time the average value of Philippine sugar is 75 per long top delivered in our ports, we shall give the Filipinos a free market for produce to the amount of 523,500,000 on suger alone, say nothing al tobacco and other articles now dutiable, but to be admitted free. In sugar PROFIT AND LOSS ACCOUNT FOR THE YEAR afone 300,000 tons is sixty 5,000-ton shiploads ·ENDING 31ST DECEMBER, 1908. and is the basis for a very large commerce: The
Dr.
Mr. Beattie was elected auditor for the year under review, but owing to his having to go. away he resigned and Mr. J. Cox-Edwards was appointed to fill the vacancy. Mr. Cox-Edwards being eligible offers himself for re-election.
"PERCY SMITH & SEIII,
General Managers.
$
28,30
78.25
ships returning shall they be Amatricas ships? To Addilor's fea..................................$ 50.co
must bave loads to carry, and the ports which To Balance can supply the return loads will get the trade and the refining of the angar. And now San Francisco industries must bestir themselves to see what they can provide to ship back in the augar ships. We can refine the sugar. Can we supply ths loads back in competition with other sugar-refining ports?
POLICEMAN'S WARROW ESCAPE.
DRAWS DOWN IN BUNKEN MANHOLE.
24th inst
December 31, 1908.
By scrip fees,
school.
Geoliemen,We beg to submit to you our report and statement of the accounts of the company for the year ended the gist Decem ber, 1908, (ohne
APROFIT AND LOSS ACCOUNT.
Tharasult for the year on the trading, shows a profit of $10,216.35, to which most be added the balance of 1907 account $75458° and^$$£8 surplus of rents receivable over Crown rent and taxes payable, making a total of $11,488,96, Certain faterest and depreciation has to be allowed for and instead of declaring a 'small dividend with the balance it in considered sounder to still farther conservs the financial standing of the company.
28 1909
PEAK TRAMWAYS CO, LTD.
ANNUAL REPORT,
The report of the Directors for the year and ing 30th April, 19:9, for presentation, to the shareholders on Saturday, the agch inst, is as follows im
Gentlemen-The directors now beg to sub mit to you their report and statement of ac- counts for the year ending goth April, 1909. ... The net profit", for. "the twelve
months, after deducting direc tors' fees and general managers' remuneration and providing for losson subsidiary colos, amounts
to
To which has to be added the balance brought forward from last account, screwinderserien, king available for appropria Making tion
7491.65
Hannuksiinim☎ 43,187,70 Your general managers do not wish to crip- The directors recommend that a dividend at ple the buying capacity of the business for the the rate of 8 per cent per annum be paid to shareholders, absorbing $24,000.00, that second half of the year, as would be the case wers a dividend now declared, which would .983:10 be written off rolling sick that $15,000.00 be placed to a reserve fond and that have to be paid out of borrowed money..
Your general managers trust that the sacris the balance of $2,104.6o be carried to a new fices of the last four years will bring their re profit and los accounts les ward in the annual accounts for 1909. It is Directors Mr. H. Keswick having resigned, Hon. Mr. W. J. Gresson was invited to occupy considered advisable to allocate the balance of
tha
In accordance on the Board. 315,488.06 as follows: Interest on loans and overdrafts....$ 3,404.78 with Rule 73 of the Company's Articles, Han, Sir Paul Chater, O.M:G., Hon. Mr. W. J. Gresson, Depreciations-Shop Gttings and
1,458.75 Dr. J. W. Neble, Mr. G. C. Moxon and Mr. C. furniture at 15 per ceñki....i mean Building...2,209.24 S. Gubbay retire, but being eligible offer tham
salves for re-election, g Museene Aerated water plant
Auditors-The accounts have been audited by Messrs. W. H. Potts and A. R. Lowe. Mr. Potts and Mr. Lowa offer themselves for re-election,
·Exchange account Reset ProPPERS Balance ta next yeBI''ces
AUDITORS.
3,000,00
691.73 1017.53
Str,488.96
The accounts have been audited by` Mesuri. Lowe, Bingham & Matthews.
CHAN A FOOK General Managers. BIG, A.WATKINS 5
Hongkong, 20th April, 1909.
vacant
THE MACAO PROBLE
One of the subjects largely discussed in Chi- mose circles at the present time is that of the delimitation of the Macho boundary and large. ly through fear of Portuguese aggression, for which it must be admitted there has bean some grand in the history of similar sagonations in the past, the Chinese have been led into a mood of hysterical inaccuracy and mlacktate mant. The Portuguese authorities, on the other hand, have scarcely shown thaikalves-clic cumspect in their approach to this very ticklish subject, and the frame of mind on either side. is such that the simplest matters are distorted and the natives of each are suspected by the other. The result is that several issues are bes ing confused which ought to be kept quits separate. Macao is China's longest-standing foreign problem. Brings
Before the Portuguesa settled on Macao they bad been confined to several islands in'"tha Immediate seas and-lt is'still a matter of doubt whether they took up their residence by Im perial bounty or by right of co.quest. Whate ever may be the real answer to that question there is no question that until the year 1848- they paid an annual rental of Tsoo for their holding, and having refused to pay that rental any longer they drove out the Chinesa curtami service and every representative of Chinese authority. This was of coufen bitterly resented by the Chinese government and it was not until 1887 that Portuguese sovereignty over Macao was recognized by Chiar By this time, however, Macao had begun to be a problem to Portugal herself, for since the British possession of Hongkong Macao's trade and general importance had decayed, vary con siderably. Certainly there was not sufficient material interest a Macao to warrant any very strenuous measures being taken for its reten: tion, and it was this feeling that led to several attempts being made to dispose of the historie. Colony to the French who were consolidating: their interests in the South These attempts were frustrated by British interference in the interests of Hongkong this was before the days of the entente cordiale which was rapidly capturing all and more than all the trade S12570.19 that bad, formerly passed into China through 31350.99 Macao; and the latter years of the history of 7,341,40 the delightful spot once the home of Camoens has been no credit to its possessors, Apart 1,215.35 from its haunts of vice Macao has other claims 23,416.41 which seriously complicate any problem con- 1,029.91 nected with it. The Chinese hold, that it in a smuggling centre from which the supplies of Ammunition and warlike material needed by 6,000.00 the revolutionary party dre obtained with und falling regularity, and they therefore view with concern any possibility of the extension of the area in which such operations take place; or can take place. It is; moreover, the only spot on the possession of foreigners, and there is a Datural desire on that score alone that there should be no extension of Macao's limits.
JOHN A. JUPP, Chairman.
Hongkong, 17th May, 1969.
PROFIT AND LOSS ACCOUNT. "For the year ending 30th April, 1900.
Dr. To coals and stores To charges.
PROFIT AND LOSS ACCOUNT FOR THE YEAR TO maintenance and repain
ENDED 1ST DECEMBER, 1908. :- To Interest on bill, loans
5 1,404.78.
Such, in short, are the arguments advanced by those who consider the establishment of al Commercial University unnecessary. In con nection with this topic the views of Dr. Takain, of the Waseda Univenily, as quoted by the Tokyo Mainichi, appear to be well founded and clearly stated. Below we give a summary of his arguments,
and overdraft.................... „Depreciation:-
It
Shop fittings and furni.
tore at 15 percent...$1,458.76 Building nam 3,209.14. Aerated walor plant... 3,100.00 Stock ..................................... 2,000.00
Exchange loss on sub-
sidiary coin... $1,215,97 "Less gain on sterling
exchange.......· 514.24 Balance as per balance
sheet
Balance from last year of working act cquatt
.. Rapt receivable-less rent and Taxes paid...
To rates, Crown rent and Gre in-
To salaries and wages usin To mortgage interest on R.B. Lot So To allowance to general managera to cover" office rent and clerks' nalaries iummitmo
To directors' feek $2,500.00 To remuneration to generi
7.774.90
managers,.5 per cent.
on gross earnings .............. 4,949-45
To balance...
-...
691.73
Cr.
1,617.55 By traffic receipts (after deducting
7,449.45 35,716,05
$98,989.10
loss of subsidiary coins)......... $96,388,13 By advertisement rents By rent accountressrección inmeube By transfer less,
$ 11,488.96
$
* 754.58
By interest
10,216.38
518.00
: $ 11,488.96
DALANCE 'SIERT 31ST DECEMBER, 1908. Liabilities.
Capital:
J
10,000 shares of Sto ex-
fully paid.. Creditors:
Loan Agr 1,000,00 Trade creditors ac
ceptance Mine. Open accounts
Deposit accoun Unclaimed dividends
3.609.05
-2,613.87
.787.72 466.10
5100,000.00
8,586.74
Buliding Depreciation Reserve Account:
As per balance sheet
31st December, 241907anários. $15,000.00
Transferred from 1908 profits*
2,209,24
Reserve for Doubtful Debtar
As per balance abest
31st December, 1907.$ 5,000.00 Add old dispute liabili
ties now regarded as Dot payable.... Bad debta recovered...
Less bad debts written
off for 1908
Profit and Loss Account
Building:
1,645.50 49.15
$ 6,694.65
734.95
Aucte.
As per balance sheet at 1st December, 1907 (see reserve per con-
Furniture and Fittings:
As
per balance sheet ar
31st December, 1907..$ 9,725.18 Lese depreciation--15%
• written off................ige!!
1,458.76
$.8,166.43 137.59
Additions during the year
Aerated Water Plant t As per balance sheet at
77,249.24
But perhaps more serious in the Chiatres mind is the possibility that Portuguese déc mands for delimitation involve other issues, or will be wrested so as to involve them. On pre- vious occasions when Portugal bas been anxious
· 272.50
to secure the delimitation of Macao's boundaries 340.00
the negotiations bava proved fruitless, except 8.00
that they have wrented from the Chinese some 1,980.47
.concession of material benefit, to Portugal, Thus the negotiations of 1901 ouded in the, $98,989.10 Macao-Canton Railway concession. To pra-
BALANCE SHEET AT SOTIE" APRIL, 1909.
Liabilities
Capital accoupl~
75,000 shares of 310
each $750,000,00 Lass uncalled, $9 per.
hare on 30,000 share............... 450,000.00*
Reserve fund............... Mortgage R.B. Lot No.
Unexpired: feas o
tickets navn DC, Sundry creditors......... Profit and lois account
do. from last year.........$ 7,471.65 do. for the year 35,716.05
Aouts. Permanent way and concession
....(old line)..unosi quis Permanent way and concession
(new lide)
vent the possibility of a like issue to-day ike Chinese are at present making the counter- move of seeking to recover this hitherto un- fruitful concession, and their agitation is doubte less partly intended to stiffen the backs of the possibility of more delimitation"—which is all that Portugal professes to seek-being made a cloak for extension. The last negotiations
of 500,000.00 of a
f a similar chufacter broke down because o 5,000.00 disagreement as to the possession of certain Hlands adjacent to Macao, PATRIS 29,000.00 The necessity for delimitation is quite clear
to those who are acquainted with the local con 4,340.73 ditions. There is frequent conflict of jurisdic 13,834.57 tion and international complications are un- avoidable so long sa boundaries either ashore of at. non are li defined. The Tates Maru incident might be put forward in illustration of 43,187.70 this point. It was held by the Portuguese that the Tatsui Mara was in Portuguese waters at the $395,363.00 time of her being called upon to stop by the Chinese officials, and in order to prevent the repetition of any such incidents there ought to 0,000.00 be clear undemanding as to the limits of Jans- diction; but if in the couns of delimitation 45,626.29 proceedings there arises any difference of opl
Stations, Crown leaseholds and build-
|---ings (Inland Lots 1317,13331.
1334, 1335, 353 and R.B. Lots Bo and 86) Rolling stock
dle praje
Office furniture.myresurse Coals and stores in hand ...ONSTIPATI Sundry debtars..but.........**** Cash in Hongkong and
5.900.39 Shaughzi Bank...571,274,61 1617.55. Cash and compradores","
orders la hand...'. ... 3.309.18 $133,373.83 ||-:
31st December, 1907..$ 5,106.90. Lese sosorva against de
preciation ......................... 2,106.90 Stock on Hands (Sterling exchange
1/8) $71,934.67 Leza reserve against
depreciation as "per" balance sheet at, grst Dec., 1917...$6,000.00, Reserve out of
1908 profits. 3,000 03
Debtors:
8,000.00
nion both sider should be prepared to give and take in order that a float settlement may be. reached. It would perhaps be better if the 35,356.29 whole question of delimitation had been hard- 36,983.10 ed over to an independent Commission, as 63.60 Chile and the Argentine Repúblic submitted 668.go their boundary delimitation to a Commission. 159103 appointed by King Edward, and as Great Bri
tain and Germany bave recently agreed to sub mit similar ismes in Africa to a Commissioa appointed by the King of Spain.
As regards the railway, it is quite clear that 74,583.79 it will never be built by Portogassa capital and it is according to the dictates of common sense $395,363.00 that those who cannot use a concession to the -general advantage should be prepared to band It over to those who could. The fable of the deg in, the manger. has the sanction of a hoary antiquity, but that does not limit its applic ability in the affairs of the twentieth century. -Shanghai Mercury, 254
ANOTHER, LANGKAT CASE.
The recent phenomenal rise in the price of Langkat shares is, it is reported, responsible for a number of suits which will keep the Courts busy for some time. The Shanghal Times un- demtands that Mr. F. L. Marshall, sharabroker, has fled a petition ja H, B. Mis. Supreme- Court against Mrs. F. A. Nazor for refusing to deliver fifty Langkat shares sold to plaintiff for the Jace Settlement, prior to the recent rise în 8.403.93 vaipe. Mr. J. O. E Douglas will appear for plaintiff and Mr. H. P. Wilkinson for the defence,
V
CHINESE POLL TAX IN BANGKOK,
AMENDED REGULATIONS.
All concerted will be agreeably pleased tomhear that the Bangkok, Revenue Oos of the ~ Ministry of the Local: Govammant VOLCANIC ACTIVITY.
in taking a new highly commandable departure this year with regard to the collection of the CURIOUS PHENOMENON IN THE HOKKAIDO, Chinese Poll Tax Informer yasis both the Chinese themselves, as well as those employing Tarumoyesan,
a volcano in the Hokkaido, Chinese labour, were put much trouble and which has been active lately, is presenting a inconvenience, but in ord, bobviata tho úsqaf curious jupect, according to a telegram from harassing procedure, Hii" Excellency. Phra Sapporo, A heap of lava, about 5oo fant high, Reisda Korn Koson, Director, Hangkok Revenue bar made its appearance routed the crater. At | Department, courteously informs us that ouder. first the erupted matter was in a smooth hemi- the Royal Proclamation of R. S. xay the use of spherical form, but its top gradönlly subsided | cosion wristlet has been abolished and that in and it now presents a terrated appearance like" future all Chloese will be liable to: payment of The tooth of a saw, while smoke is lasting from a yearly tax of 6 Ticals per head and thất thự 63,924.67 | holes in the side. The heap of lata first ap-|| collection of same was commenced on: the fat
peared on April 23rd last, and increased in May R. S. 128 (1999), ; (3) bulk_considerably on the following day, A form of assessment was enclosed to 'all can be seen from Sapporo, While the vpl. | those, employing · Chinese: labour. so, that' 28,352.33 | ca00: Was in eruption, the lava streaming', 'employers may fill it giring the number down was so hot that pipes could be lighted | of male Chiners between the ages of 18 and 60 1,105,17 || from: It: The largest place of lara" to fall who may be employed in family or firm, la soy
down messures so fest in circumference, and capacity whatsoever. Employers are requestadi places and to three fest in circumference have to return this form duly filled up to the Bangkok besa falling every day. An American pro- Rerenne Ofice, Ministry of the Local Governo fessor, Me Salo, an engineer in the Depart-ment, whils at the same time fixing m đãio nad ment of Agriculture, and Commerce, Mr. place, which would be convenient for files, 1,978.60 Shishido, an assistant professor, in the College collection to be made. E GAMEPORT
of Agriculture in the Tokyo Imperial' Univer- Should the number of assessable persona 5133,373,83|sity, and Mr. Oi, an engineer in the Sapporo exceed go a reduction of to Z will be gran General Manager Miolog Office, have proceeded to the summit on the collection, le
of the volcano to inspect the phenomenos. This method, no doubt will be More than fifty sightseers are now ascending welcomed by all concerned, as it will do
with the disagreeable conne of karing t the volcano daily, MD
*Mount Asama, the 'well-known volcano near | the expense and troubia el taking out's Karuizawa, reported by wire to have given warrants, and making, arrosta
The fact that the Commercial
University question his aroused public opinion and obe liged the Government to accelerate its decisiop la the matter is doubtless, says Dr. Takata, dir, ectly due to the representations on the subject which the Dlet has voted several times. It is anderstood that the peepin connected with the Commercial School have đóns their best to aid, the movement in the hope of making the school University. In a sense their long- cherished him has been achieved, but at the same time they bave been disappoined ins- much as the authorities have-decided to make' the proposed institution part of the Imperial By balance brought forward from last
University, independent of the Higher Com Accovet.........................mercial School. Not only has the decision of 5.00 the Govement Broused the fudignation of By balance of working account. 14:44 those interested, but, looked at from the stand?”
point of the progress of commercial education $78.26
and the dignity of the Imperial University, It seems a mather unwise measure. The fact t BALANCE SHEET 31ST DECEMBER, 1908. Liabilities.
that commercial education, to be effective, mist To Capital 1,600 shares at Sto each....$16,000.00 stand on abasis embracing 70 per cent. of prac To Sucdry creditors,
3,168.78 tice and 30 per cent of theory. It is more than
E00.00 probable that in the proposed University Imiq 100.00 portance will be attached to theory at the ex
28.36 pense of practice, The result with be that the graduates of the lower schools will be found. more capable of business pursuits than those of the University. This is bound to be so, ber cause the Japanese University as it is now com stituted, If an institchin which sciences are MR. P. N. H. Jonas has been appoitled, pro- laught, or, a, purely, theoretical biala. Nor | visionally and subject to His Majesty's plea- would it conduce, to the reputation of the Ime sure, a member of the Executive and Legisla perial University to hara a branch of its own tire Councils, during the absence on larve of where açacation is, giran. In which mom ime the Honnanəli Mr. William Chatham, C.M.G.|| 12th [ustast. The "rest" was the most violent serving of all co-operation la, the working al portance must be attached to practice than to or until further notios, with affect from the that has lasted from the volcano since June | this now plan which will make Theory
Japan Cârenida d
Nepal simple and say for all-diam
A Chinese policeman, who is stationed at beadquaters, narrowly escaped being seriously To Reserve for bad and doubtful debts, injured yesterday. Numerous reports have To Reserve for home passages, se been made to the police of late of the damaged„To Profit and loss account, mon condition of some of the roads in the Colony, owing to the recent rain. Somet
afternoon a Zukong while on duty lö
Assets
Street chinced to step os a manhole. Imagine | By Furniture and fittings :—
the susprife he received, when all of a sudden. the maskola sunk nader him. The officer was carried under the street for a distance of about mix fact, but, fortunately, he was not hurt in'any way. Throughout the day the aperture in the- #:ZOSE WEI CUVered wiik a condensed milk case ja' order to avoid say farther accidente,
As per last account......$4.554.51 Lesa Amount written of -1,254,53
$300.00
Addisons during the
THIS
$19,397.04
Trade .........5 25,811.17 Sundries..........
2,540.86 Unexpired fire Insurance and licences szimpo Cash: Russo-Chinese Bank....... Hongkong And Shanghal Banking Corporation hảod ·
CHAN A FOOK G, A. WATKINS!
and instant. S
437+45
896.05
forth viclent rambling noises at sam. on the The authorities are, therefore, beartily