THE SHANGRAI AND HONGREW WHARF CO., LTD.
ANNUAL MEETING.
The annual general meeting of shareholders In the above named company was held at the office of the general agents, Messrs, Jardins, Matheson and Co., at Shanghai, on 15th inst, Mr. David Landals, presiding. There were also present Messrs. A. MacLeod, C. W. Wrightson and H. A. J. Macray (directors). J. M. Young, Barnes Moss, C.-Barff, St. Croix -and Duncan Glass,
The Secretary read the notice convening the meeting.
THE LATE MR. MCKIE.
THE HONGKONG TELEGRAPH SATURDAY MARCH 26 1010
THE HONGKONG HOTEL 'COM. PANY, LIMITED.
'ANNUAL REPORT.
The report of the board of directors for the balf-year ending 31st December, 1909, fot pro sentation to shareholders at the meeting to be held on Saturday, 26th inst., is as follows :-
Accounts-The profit on working account amonoted to $51,740.04, as compared with 543 461.49 for the corresponding period of 1908, being an increase of $9,378.55.
The profit and loss account, including the sum of 519,372 49 brought forward from 30th Jubo, 1909, shows a credit balance of $71,877.01, which the directors recommend should be Before procending to address the abarehold-apportioned as follows ers on the report and accounts the Chairman To pay a dividend of
$2.60 per share made the following reference to the death of
·Mr. James McKin
Gentlemen-Before commencing the busi nets of this meeting 1 faol 'I must refer to the loss which your General, Agenta, and fadirectly also this company have sustained, by the death yesterday morning of Mr. James McKio. · His business capacity and good fellowship were too well known in Shanghai fort to be necessary for me to say more than that I am sure that am voicing the sentiments of many of you in saying that we deplore 'the loss of a fricad, whose place it will be hard to $1,
Proceeding, the Chairman said :-The repon and accounts bave lees in your hands for some days and with your permission we will take *thom as read. I'm sorry to say the year's work. fog shows a further falling off in our earnings which is due to the dull state, and consequent greatly reduced volume of the import trade during 1909. Four years ago your Chairman pointed that we bad bean turning away cargo. and that increased godown accommodation was Decessary, and this has since been provided, - There has been however no repetition of the congested state of the Import Trade, and the reduced quantity of goods coming forward has gane more rapidly into consumption. Cam petkion bas also Increased not only from privately owned godown, a form of investment which must have been a disappointmect to many. Although we have not yet been able to reap the full advantage of our increased go. domo accommodation, we have the satisfaction of knowing that we are now in a better position to handle "a fair share of the trade of the port than we have ever been before. Turning to the accounts the working account shows a credit balance of Tie, 315,000 which gives us a credit balance of Tls. 281,224.83 in profit and loss a/c. We have already paid an interim dividend of Ti 3 per share which leaves us with a balance of Tls, 173,721,83 to deal with, and your direc. tors, recommend that a funt dividend of Tls, 4 per share be paid, Tis. 20,000 be placed to repairs a/c, nad Tis. 9.221.83 carried forward. Last year our repairs cost us Tis. 42,826.70 which leaves us with a balance of Tl. 7,173.30 at credit of repairs account, by adding Tis. 20,000 referred to above. Your directors and general agents are of opinion that a sufficient sum will thus be provided to meet any expen diture that is likely to be necessary this year. I am glad to be able to tell you that generally" speaking your wharves-and godowns are in excollem condition, though it must not be for- gotten that a wooden wharf is not a very per- madent structure and requires to be constantly renowed. During the year we have paid shenks, on the entire frontage of your property on the Shanghai aide of the river and now hold title deeds out to the Conservancy Normal Line. Before 1 sit down there is one matter I must touch upon and that is to express the regret of your directors and general agents at the retirement of our superintendent. Mr. Duncan Glass. It is over forty years ago that Mr. Glass joined the affice of your general agents and for the past fifteen years he has filled the post of superintendent of this company's pro- perty. He has ever been hard working and zealous in the interests of those he served and will i feel sure when he leaves at the end of this month carry wilk bim the good wishes of you all. If any shareholder has any questions to ask I shall be glad to answer them to the best of my ability.
Mr. Barff-What is the meaning of "Equal. lantion of dividends account?" Des i mean that it should be used in a year like we have gove through at the present moment?
The Chairman—I think it is the view of the directors that, so long as the company can pay seven per cent, we should not call upon the equalisation of dividend land.
Mr. Barff-During the last ten years you have paid an average dividend of 15 1-2 per - cent and last year 10 per cent. Now we have had a bad year and I thought the directors might possibly sen their way to encroach upon that fund. Is it that the prospects are not so good? lo 1906 and 1907 you paid us 18 per tent, and now 7 per cent. 1.thought the direct
"
ពង
12,000 bid shares. ........5 31,100,00 and $1.30 per share on.
8,000 new shares......$ 10,400.00
To transfer to repairs and renewals
account modamınıúramAPITAA
$ 41,600,00|
10,000,00
Lass written off, as per ⠀⠀
report
$,000,00
*4,838
Since added in 2
Installation of electric light as per last act Counseenchor Lesa written off, sa per Jast report oncede
4,000.00
Repairs and renewals account as
per stalemant Stock of lines, crockery, glassware
as per inventorier ................................................... Stock of wines, provisings, backe
hold sundries, and stationery as par inventories ............................................... Shares in public companio........ Value of steam launch, as per lant account › 10yeah Sundry debtorumantimon Licenses attaching to 1910 Hongkong and Shanghai Banking
Corporation (unclaimed, divid ends account)umicature
To write off furniture and fixtures... 15,000.00 Cash la band To write off lasiallation of electric
light........
To carry forward to new account ...
5,000.00 1,277.05.
$72,877.00
Directors Dr. J. W. Noble retires by rota- tion, hut offers himself for re-election.
Audit. The accounts have been audited by 'Messrs. H. V. Jeffrier and A. R. Lowe, C.A, who offer themselves for re-election,
EDWARD OSBORNɛ, Chairman. „ Hongkong, 17th March, 1910.
PROFIT AND LOSS ACCOUNT. For the six months ending zest December,
· 1999. To bad debts and refunds....$ To Crown rent ironman pamidoran To rateḍ
To fire insurance ............ To dehenture interest on
$75ojona at 3 per cepl, $ 22,500.00 Leas returned on 'de- bentures beld by the company..........ESE ARE
To interest account To directors feas
11,341.64
THE LATE MR. J. MOKIA,
THE FUNERALS
The old cemetery at Pahsianjas was the
149,833.92 scens on Sunday aftemoon of the funeral of the
Late Mr James McKia, reports the. Shanghai- Timer of 15th inst. To pay their last tribute of respect to one whom, in life they had held in bigh esteem, a representative throng of Shang bai's leading citizens attended, and those | 150,000,00❘ unable to be present sant wreathe A large number of the hongs lo town also added 333.89 their floral tributes, and at five o'clock when the mournful procession fled into the 37,155.72 | Chapel the chancel was plied high with a beautiful collection of floral tokens of regard mad grief, "The Chapel was crowded, many 17.9 4.75 having to stand in the aisle, and hers the Rev. 4370.31" "A; J; Walker conducted a brief but impressive service. The coffin, on which was a brass plate 4,500.00 with a sugraving of the name of the deceased,
was then carried slowly 36,669.51
the unoccupied *2,408,34 | portion of the Cemetery and here as it was lowered into the grave Mr. Walker offered up prayer.
1,443.00
|
YOKOHAMA SPECIE BANK.
HALF.VEARLY MEETING" The sixtiath half-yearly general meeting of
shareholders of the Yokohama Specie Bank
RAUB AUSTRALIAN GOLD MINING CO., LTD.
Mining and Milting Report for four weeks anding February 26th, 1910, 15
BUKIT KOMAN. 340 ft. Level Crosicut E. extended 18 ft
total length from hanging wall lods too f
340 ft. Level N. A winze has been sauk to it. on the hanging wall lode, to last the portion of lode standing; it will be sunk soms. 30 fl."
440 ft. Laval N. (main drive) advanced 16 ft. total length 523 it.; no improvement in vaine since last raport
took, place in Tokyo 'oa March ro when the following report was passed as a d
The directors jubmit to you the annexed statement of the Liabilities and assets of the bank, and of the profit and loss account for the hellyear ended 31st December, 1909.
The gross profits of the bank for the past half-year, including yen 1,155,841. brought for ward from last account, amount to yen *1:333,659, of which yen 8,374,261 have been deducted for interest, taxes, current expenses, rebate on bills current, bad and doubifal debis, boons for officers and clerks, sic.. leaving a balance of yeu 2,957,407 for appropriation,
The directors now propose that yen 350,003 sometimes good samples are met with, the be added to the reserve fund, and recommend Average assay for the month however is only a dividend at the rate of twelve per cent. per | 1-75 dwts: anDom, which will absorb yen 1,440,000.
440 Level N. A drive, to test the hanging The balance, yen 1,167,407, Will be carried wall lode io a cross-cat in the N. stope, was forward ab, credit of next account.
extended a6 ft, la a N. and S. direction, the lade being 48 inches wide, asssying 3.28 dwts. The winzo mentioned above (340 ft. Level N.) is being sunk on to this point.
BARON TAKAHASHI'S SPEECH." The President spoke as follows on the report: Goallemes,—In submitting to you at this alxtieth semi-annual general meeting of the shareholders a general balance sheet and a statement of profit and loss covering the last balf year, I may be portaitted to refer briefly to the ecomoale conditions in general as well as to the working of our bank,"
The principal moumers' were Mesin, D. 155.32 | Landiale," W. G. Murray, L. Midwond, and B. D. F. Baith, while the pall-beareas wers Messrs. W. F. Inglis, R. Macgregor Bra 2,193,4145
die, A. Clarke, L. Camera, J. E. Grenson, SHANGHAI VOLONTEERS. Geo Payne, H. D. Morrison, and A. K.
Graddock Among the general body of SENTATION TO CAPTAIN J. M. DAVIDSON,
'mourners were the following:Sit Pelham Warren, K.C.M.O, Sir Havilland de Saumarez, The Headquarters of the Portuguese Co., S. Lt. Col. C. D. Bruce, Lt. Col. A. A. S. Barnas, The slackness of the money market, which V. C., on the Range Road, was the scene of a Dr. Gilbert Reid, Mess. S. Barton, A. P. 'prevailed in the previous half year, has con- very pleasant and interesting little ceremony Wood, T. R."Wheelock, G. M. Wheelock, E. tioned during the period andar review and in on Monday evening when Captain J. M. R. Morris, H. Middletco, E. Hall, H. Á. Į. spite of the gradual distribution of merchandise Davidson, of the King's Liverpool Regiment, Macray, A. Corbet-Smith, H. E. Keylock 5. S. in this country, business in general could who has been associated with the Company Jellick, R. 5, F. McBalu, H. J. Soch, oot be freed from the continued de since its resuscitation, and is now compelled by H. O. Gallaud, Geo. Miller, Captain pression. In short, our economic condition ill-bealth to go home, was presented by the Carlson, D. Siffen, J. H. Brett, H. King during the period referred to was such that we members of the Unit with an illuminated ad-Hiller, F. W. Potter, &, W. D. Popo, have not been able yet to recover fram. Kow, dres and silver-mounted smoking set ana token W..L. Gerrard, H. T. Wike, T. Morgan ever, ideal good weather having prevailed during of appreciation, reports the Shanghai Times Phillips, D. McNeill, W. A. G. Platt, E.-O.-last summer the country was blessed with un- of 16th inst.
Pearce, F. Ayscough, John Prentice," G. R. | usual abundance of crops at the automa bar: $20.87
Shortly after 6.30 p.m. Captain': Davidson Wingrove, C. M. Bain, K. D. Stewart, J. M. vest, and tariff questions in the United States 505.92 arrived at the Company's Headquarters, follow Young, H. J. Graig, H. Reiss, J. H. Osborne, of America having been settled our trade with 2,612.90 ed by LL. Col. A. A. S. Barnes, Commandant, T. H. U. Aldridge, T. E. Trueman, K. J. that continent was once more made to move 3,161,325, V. C., and Major T. E, Trueman of the McEuen, J. H. McMichael, H. J. Clarke, W. forward, and further the various diplomatic Municipal Council. The Company's brass band L. Marriman, W. M. Dowdali, F. A. Cum- negotiations with China wers succession set then played the Portuguesa National Aather, ming,. R. I. Fearon, G., D. Coutts, G. H. Potts, led. In view of those favourable circumstances after which the company adjourned, upstairs, H. H. Read, C. S. Barff. H. Edblad, C. W. and also there being nothing apprehensive as where Captain. J. Nolasco, on behalf of the Keswick and a large number of others. regards the future. of the money market, the Poricguese Company, S. V. O., read the fol
Bank of Japan lowered the rate of interest in lowing address which was bound in a band-
the month of August, when the market began some light-blue satlu cover;-
to feel a little activity, and trade generally Shanghai, 1910.
likewise showed a tendency towards gra daal recovery. But in consequence of the great fall of the price of rice in antici pation of abundant crops, and also the dull state in the raw silk trade, the situation became tow and discouraging and all grades of trade suffered further depression in the keenest da gree, making the effect of depression felt more than ever. The money market became more declined, and all the native banks were in such and more inactive, interest.op loans further A state, as to be unable to find proper outlet for their unemployed money, 1
11,158.15 7,267.42 3,200.00 To balance, to be appropriated as follows: To pay a dividend of...$ 41,600.00 To Irmaster to repairs
10,000,00
✓
and renewals a'c.... To write off furniture
and fixtures a/c... 15.000.00 To write off installation
5,000.00
1,277.01
of electric plant afc' Fo carty forward to new
a/c
By balance from 30th June,
1909
Less dividend $31,058,80 Less transfer
to repairsant!
renewals a/c 10,000.00
Less written
-off furniture
and fixtures
• account 5,000.00
Lass written
off installa. -tion of elec.
tric light, afc 4,000,00
$70,231.79
: 73,877 01
£101,304,0
1
50,9 F,Bo
-- $ 19,273.49 By rent of shops and offices,
new building
$ 4,500.00 By rent of Hotel Mansions 23,100.00
By dividend on shares in public companies ...........onomihotap By scrip and transfer fees
By had debis recovered
By premium on 103 shares..............
By forfeited dividends................. By profit on Hotel working account for the six months ending 1909...
-27,660.co
76.00
Capt. J. M. Davidson,
3rd King's Liverpool Regt., Shanghai.
:::.
Dear Sir, On the eve of your departure from Shanghai, we, the members of the "Por tuguese Company, S.V.C.," have beeo assembl- ed here to-day to offer you a small proof of our appreciation of the very many favours of which we bave been the recipients from your
hands.
From the very formation of the Company you have given us many proofs of the interest you have in us, and we much regret that our Company is not on such a smart footing es to Teflect the credit which is due to such a capable Officer as yourself.
Although you will soon be far away from us, devoting your time and energy to a more de serving cause, you may rest assured that here in Stanghai, at least in one Unit of the S.V.C., your name and person, will ever be cherished as that of a true friend-if we may be permitted to use the expression.
In bidding you and Mrs. Davidson Bon Voyage" we sincerely hope and pray that you be spared many years of life, and that happi- ness and prosperity may daily cross your path.
We are, Dear Sir,
Yours faithfully,
ON BEHALF OF PORTUGUESE
COMPANÝ, S.V.C."
At the conclusion of the reading of the ad- dress Captain Nolasco called on all present to drink to the bealth and prosperity of Captain and Mr. Davidson, which was done right 45.00 heartily, being followed by three rousing cheers 22.32 and a tiger. 3,023,95 485.00
$1,749.64 $191,304.80
REPAIRS AND RENEWALS ACCOUNT.
For the six months ending 31st December, 1909,
RESPONSIBILITY FOR INFERIORITY OF JAPANESE GOODS.
VIEWS OF VOKOHAMA MERCHANTS, The Yokohama guilds of Japanese merchants have drawn up a memorial with regard to the complaints of the inferiority of Japanese goods which are so generally heard in the foreign markets, and bave presented it to the Gavern ment. As will be seen from their views, which we publish below, they seem to attribute the deterioration in quality of Japanese goods mainly to the result of what they term the "Settlement trade."
DEFECTS ON JAPANESE SIDE. (1) In the beginnings of foreign trade the export of most Japanese goods was undertaken by foreign merchants more for the sake of novelty than for the purpose of permanent trade, and the sellers, as a rule, did not con- cern themselves much about the quality of the goods they supplied,
(4). Many of the goods which are now re- garded as important articles for export have either been newly manufactured or medi fed to suit the taste of foreign markets, based, on, mature experience nor a but the manufacture of these goods is neither fall up- derstanding of the taste of the purchaser. Moreover, many of these 'articles are more for the purposes of ornament than for practical use, and this circumstance is also responsible for having caused a general deterioration is goods for export,
Settlement trade at the outset were recruited (3) Most of the Japanese who engaged in the from the ranks of irresponsible traders who dreamed of making a fortune of a stroke, and they did not pay much attention to their re pulation, as would be the case with those who carried on a fixed trade for many years. not surprising, therefore, that they were not very particular in the quality of goods they supplied.
It is
In short, the general economic conditions of this country in the period under review was that although the depression was "unfversat alike in cities and districts owing to the enter prises generally having not yet regained the point of prosperity, to the tendencies of the un- ceasing curtailment of government expenditure yet in view of the easy money, as already man tioned and also of the abrence of any pessimis tic circumstances around us, a revival of gener: `al prosperity may not possibly be very far from
U13.
Turning to our foreigà trade during the last half year, we find that the merchandise export ed amounted to yen 156,003,000 and imported La Fan 179,050,000, making the total of 'yan 445,000,000. These figures as compared with those for the corresponding period of the year preceding show a falling off amounting to yen 3,800,000 in Imports, boi show an increase by yen 10,800,000 in exports, resulting in a unt increase of yen, 17,000,000 on the whole. The increase to exports is due principally to the return in the economic state of European and American countries to normal and favourable levels, as well as to the comparative abundance of crops in China, coupled with a revival ol trade in that country, influenced by the re covery of the price of silver to and at about 24 pence. The decrease of imports may he at sibuted to the actio slackness generally ex perienced throughout the commercial and in dustrial sections of the country
Captain Nolasco, in the course of a short speech, said the Company would miss Captain Davidson at their drills, ride meetings, social functions, etc. They all regretted his depar ture as he had always been a good friend to the Company and had taken a keen interest in their welfare from their first formation, He had been very patient with them and what they knew was dos entirely to his painstaking efforts on their bebel. The speaker then presented the address and smoking set, which bore a suitable inscription in Portuguese, and asked the reci- ending 31st December, 1909 14,422.41 and he was aching the mother ertaking set
clouds rolling the
Thus, with $ 14,433.41 way to the unknown, to let his thoughts float (5) The manufacture of most export goods is amount of our foreign trade, our banking busi back to the Portuguese Company in Shanghai, carried on under most irregular and disconness was in a favourable state and the result
[cclipgo:
not unnaturally arise before an order is exe-fait. Despite the no small loss having beeg
Dr.
To payments on accoudì of repairs. and repeals during the half-year
Cr.
trade is carried on through samples and et a (4) With a few exceptions the Settlement fized price, and as Settlement foreigners make inquiries of various parties before giving out an order it is inevitable that competition should occur among the Japanese traders, with the this adversely affects the quality of word, and
business was in a dull state, yet the foraign Avalready mentioned, although our domestic trade having maintained comparative briskuess, the foreign exchange business of this Bank had correspondingly shared and shown an increase
over the previous year, the increase in the
440 ft. Level 9. No. 1 Winze sunk 1g-fil' total depth 68 ft. the lode carried in this winra is of the dual characteristic (patchy)
Intermediate 440 ft.-540 ft. extended. N. 13. ft. and 5. ft. giving a total length of 47 ft. The lode is poor, Daly averaging one dwi per 100
540 it. Levelliat ft." "drive S. advanced in f. total 187 fl
540 ft Level N. from, E. cross-cat on foot. wall lode, extended 17.ft, total 32 ft the lode. here has improved, and the average for the four weeks belog 54 inches wide, asanylug 10.5 dwta per ton
Stopes. 440 ft. Loval N. 450 tubs assaying 7-71 dwis per too.
Stopes. 440 ft. Lavel S. 710 tons aslaying,
24 dwis per ton,,
Stopes. 540 -440 ft. 320 tons zsenying I dwt per too.
Stopes. 540 Layel 280 tons musaying 1,60. dwie per ton.
Bukit Koman main shaft is bolag prepared for the sinking of another roo ft.; to do this a new plugger lift must be placed at the $40 ft. Tevel and the two bucket pumps, now in the shaft from the 340.it, level to the 540 ft. lovel must be removed. This operation wili tako some time as unforeseen difficulties have been countered; however I hopo nil will be in readiness to afak in a month or two.
STOPE MINE, 160 ft. Laval N. advanced 15 ft, total 376 ft 160 ft. Level S. advanced 8 ft, total 1,185 ft. As the lode carried to this drive is poor and broken a cross-cat has been put out W, to in- tertect the other portion of lode which should be standing in this (W) direction. ..160 11, Level S. No. 3 Winte sook 8 ft., total 49 ft...
The Stopes in this level produced 'r,252 tous of stone, asraying 16 dæis per too,
ANDERSON'S,
160 fi, Level N, advanced 25 ft, total. 161 it.' assaying 6 66 dwts par ton, over a width of 60 The lode in this drive has improved in value, inches, this being the average for the 25 it driven through.
150 ft. Level 5. extended 23 ft. total 184 ft. The lode in this drive has become poor and narrow, and I am not satisfied that it the main fede, consequently, cross-cuts are belog driven both E. and W. to prove if any lode- matter is standing in either direction.
The Stope on this lode produced 167 tons of stone saying 1.18 dets. per ton, which in below the averaga in value,
of stone, assaying 6.06 dwts per ton.
Stops N., on W. Branch, produced 200 100
The Maio Cross-cut W. 260 ft. Leval has been further extended 14 ft giving a total proving whether the quartz see at surface W, length from shaft of 98 ft.; this with a view of of shaft extends downwards,
The Air Shaft S, of Anderson''- is now down- 124 ft., and the Rise from the 160.ft. Level up. the next four weeks. 6 t Probably this will be connected during
GENERAL
During the Chinese New Year a number of poles on the Transmission Lino were changed. At Sempam Power Station extensive repairs and renewals were carried out,
At Bakit Koman Mill several adjustments- and repairs to the machinery were attended to, MILLING SHEET FOR FOUR WEEKS ENDING
FEBRUARY 26TH, 1910.
BUKIT KOMAN,
40 stamps ran 24.71 days. Loss of 3.29 daya in changing poles on "Iransmission Blou," gen- eral overhaul of machinery, clean up, &c, &c. Stone Crushed:
Bakit Koman
1,626 tons Stope Anderson
1,089 » 135%
3,840 tons Huntington Mill rao 16 days. Loss of s
tors might have encroached on the fund, unless By balance from 3óth June, 1909...$ 4,088, who would always remember him with kindly nected conditions. Much trouble and delay of our last half year's work was comparatively days caused by changing polos on transmis.
of course the prospects are not quite sa bright as they were...
The Chairman-The prospects depend upon' the quantity of cargo cool comes to Shanghai for us to handle. The feeling of your directora in recommending this distribution of profit was that if the company could pay 7 per cent, we abould cot. encroach on the equalisation of dividend fund.
Mr. Bar-How do you compare this year with last year? Are the prospects any worse?
The Chairman-1 don't think they are any
worse,
Mr. Barff-Are they better 7 How do the two months of this year compare with last, | year?
The Chairman-They are very much the
SAME.
There being no further questions the follow- ing resolutions were unanimously adopted :-
Proposed by the Chairman and seconded by Mr. McLeod That the report and account as presented be adopted,
Proposed by Mr. St. Croix and seconded by Mr. Young That Messrs. A. McLeod. C. W. Wrightson, H. A. J. Macray, A. M. Marshail and the senior representative of Messrs. Jar dine, Matheson and Company Limited be re-elected directors for the current year.
Proposed by Mr. Barnes Moss: ad seconded by Mr. Darff-That Messrs G. R. Wingrove and H. W. G. Hayter be re-elected auditors for the year..
The Chairman-That is all the business gen. times, thank you for your attendance. Dividend warrants will be ready to-morrow,
EXECUTION OF A CHINESE REVOLUTIONARY,
BEQUEL TO ATTEMPT ÖN PRINCE TSAJ:
|
By amonat transfered from profit
and loss account as recommended in last report accivicarseronate, 10,000,00 By balance.
333.89 $41,422-41
BALANCE SHKET, ŽIST DECEMBER, 1909. Liabillies. Capital:-
12,000 shares at Sco
each(fatly,paid up) $600,000.00 8,000 shares at Sis
each paid up
...... 100,000.00 1,500 mortgage de-
bentures (6 per cent) Less 699 ditto hold by
the company
750,000.00
349,500,00
$800,000.00
Reserve fund..... Sundry creditors Unclaimed dividends . Hongkong and Shanghai Banking Corporation (current accounts)... Profit and Loss account balança as
per statement..ndóstessa causéonores
ASSETS.
Value of Marine Lot No. 5 and re- maining portion of Marine Lot No. 3 and remaining portion of Marine Lot No. 7 and build- ings bercon, as por last account ............... $1,094,815.49 Since expended on
siterations and ad ditions to buildings
In a few days bo would be far BW cuted, and the endeavour to execute the order | ansialned at our Kobe Branch, the profité:sion &c.
Stone Crushed: having been ample, it is with satisfaction we Stopa and Anderson DEFECTS ON THE FOREIGN SIDE,
mention that, after making good the above loss,
Bukit Koman (1) Foreign buyers, as a role, desire to obtain we have still been able to leave a net profit goods as cheap as possible because low-priced amounting to gen 1,801,556.36 yen and to de Producing Amalgam articles commend a larger market than high-clare the dividend at the usual rate. We have industrial conditions in Japan, and do not seem priced ones. They are ignorant of the drafted the appropriation of these profits and fally cognisant of the fact that a low price adoptios,
now submit the same to your consideration and
Decessarily produces inferior quality,
lo conclading this address I ought to men- tion that on the conversion issus of the 4 por cent Loan Bonds ol yen 100,000,000. by the Government last month, this bank, has acted as one of the syndicate for underwriting, and at the instance of the Bank of Japan this bank shared in the work of its flotation, of which I trust you will approve.
(3) There is a marked tendency among far eigners to buy goods that have been in demand among the better-class people at a price that will suit the parse of the lower classes. The inevitable consequence of this is the deprecia- tion of quality.
i
182 tons
..
180. H.
35% too Total 3,20 tons 3,609 ors. Retorted gold 1,445 11 Bullion 1
1,428.744 028, Average yield per ton
8.914 dwts. Value of taillogs
I dwt, per too. No. 1 Mill ran 21.5 days) Crusblog 583 tons of
·DUKIT MALACCA. -
slope from Stops & Andarion Mines/
169 02. 91 # .90 3.08 dwts,
3
20
19
from Shanghai on the ocean, bound towards his homeland, but he could rest assured that at a stipulated time frequently leads, to the made by our Head Office and other Branches he took with bim the very best of wishes of the turning out of inferior goods. Portuguese Company who owed him so much, Captais Davidson in reply said that he had always taken as interest in the Portuguese Company. When the Company was formed Colonel Watson asked him to take it in hand. From the very first he found the members willing, and although they were drilled in an entirely new system to them they showed a great willingness to learn, and they persevered in their work, and the, rasult was that io five weeks time jo & "March Fatt" They were enthusiastic and took an interest they were like a brick wall a in their work, and that was the reason, he took an interest in them. They had steadily improved both ip their drilling and they were always up to their full strength, Especi 400,500.00 ally after the fate riot they kept up their sath priced articles to the higher-priced even though 648,975 78 siasm and he was glad to see that it did not
53.734-74
show any signs of lagging. He might be able to return to Shanghal io five years, and if he 1,433.90
did he would be glad to take an interest lo them again if they wanted him. He then thank ed the Compasy for their presentation, which he said would always serve to remind him of the Portuguese Company, S. V. C.
The Band thes played a musical selection, after which the proceedings terminated.
Captain and Mrs. Davidson will travel home by the steamer Theres, leaving here to-day, as owing to ill-bealth the Captala wishes to get the benefit of a long sea voyageć ·
Producing Amalgam alignment.
215,890.02
72,877.01
$2,193,411.45
-$1,099,548.10
4.732.71
Shung-slag-ki, the Chinese revolutionary | Praya reclamation, Marine Lot who recently attempted to assassinate, Prince No. 288, as per last account Tsal in Manchuria on his way home from and buildings thereon ("Hotel Europe, was executed at Kirin on Monday Manalons") morning, the 28th ultimo. Before his death, Rebuilding sonih block, payments saya a Dairen, dispatch to the Arthế; the pri on account to dus PLATE ANIM soner wrote details of the disturbance in Anhui | Cost of Three Chinese Houses on province.
To this document the prisoner Bections B., C. Jand D. of lav stated that the object of the disturbance was land Lot No. 80 purely the relaemailon of the Manchu Govern- | Cost of Kowlood Farm Lot No. 3 ment; it had no connection with friction ba. Section A
tween the Manchus and the Chinese proper, The paper was written in such a blime and
affecting toom, concludes the dispatch,' that } Fornituro and fixtures, shoty who read it sbad tasti af sympathy, **
se par last account. 149,995 35.
DISASTROUS FIRE, IN TOKYO,
A HUNDRED BUILDINGA DISTROVED,
A great fire broke out in Tokyo,in the early hours of the rst instant, the scene of the out break being the unoccupied house of a sitaw- bag dealer at Orbiagecho, Houja. A strong northerly wind was blowing at the time, and 621,897.68 the flames rapidly spread southward, into a district wbare the water supply is scarca. Do 144,268.47 spite the sirenuous efforts of the firemen and
steam pumps, 110 bouses were completely de stroyed and 23 others partially so before the 33,000.00 Asmies could be got under control. Among the houser destroyed was the Tokyo Poor 30,9:6.00 Asylum," It is stated, that some coolles were working till late the previous night in the 1,939,636,25 || house in which the fire orizicated. The men
lit a fire to warm themselves but failed to ex tingsih it when they left the place,
(3) Foreign merchants are, an a-rále,' desti- tute of a rufficient knowledge to discrimiaste For this reason, they invariably prefer lower- pice points in the quality of Japanese goods.
the latter is better in quality unless it is evident
on the surface.
(4) Most of the Seillement foreigners being commission merchants, they handle any class of goods if they offer profit. Consequently they often lack the secessary knowledge in some of the lines in which they deal, and they the future of the trade is particular goods. do not seem able to give careful attention to
competition to face among themselves, and try (1) The Settlement merchants have also to buy for their clients abroad as cheap as pos- sible, with the result that they are not infra- quently induced to attach more importance to price than quality.
"
Retorted gold Ballion Average yield per ton Totals. Tons crushed
Amalgam Retorted gold Bullion
Average fineness
yield per fon
3,785 3,878 ozs. 1,538 1,518 744 024. 925.346...
8.025 dwts.
Wm. J. OATES,
Manager,
JAPAN AND ́ ́AMERICA.
CRITICISM IN Tokio and LONDON,
London, March 14. The correspondent of The Times in Tokio states that the Japanese newspapers, recogniz ing that American capitalists are now disposed to join the labour agitators is an anti-lepanese KULANGSU (AMOY) MUNICIPAL campaign, consider ir essential that Japan should extend the fullest welcome to the enterprise of a nation whom she always persists lo regarding as her oldest friend.
this friendly attitude.
British commercial circles warmly welcome
COUNCIL.
Minutes of a meeting of the Council held at the Board Room, on the 22nd February, 1910.
Present:Mesurs, W. H. Wallace (Obair man), J. S. Fenwick, O. Loo, J. Mancarini, Lim Nee Kar, the Health Officer and the Secretary,
The minutes of the last meeting were rend and confirmed.
The appointment of Miss M. Kranenborg as Visitlog Norse was approved and the Secretary was instructed to publish a notice concerning same.
Leave of absence, without pay, was granted
Meanwhile The Morning Post criticizes the British: Foreign Office, declaring that it does not show much seal, prevision or judgment.. The causes enumerated above combined have England, it is said, is encouraging Japan to dis produced the steady deterioration is quality of regard her solema engagements and to trample Japanese goods. For this season, the charges upon the principle of the open door and of dishonesty or unscrupulousness can hardly equal commercial opportunities. Is it sur be laid at the door of Japanese merchants or prising," the Morning Post continues, "that manufacturers, as the inferiority of quality there is thunder and lightning at Washington has been brought about by inevitable cir- and that Mr. Knor and Mr. Schiff arm comstances Foreigner, on the other hand, on the warpath against British policy, to Miss Krauenburg for the month of April, na are not indifferent to the quality of gonds they accusing Britain of intriguing with Japan an engagement for that month was aptered into buy, but the limitation placed on the price at against the United States? In plain words by her before she accepted the post of Mual. which they are allowed to purchase has com we are picking the chestonis out of the cipal Visitors Nurse, k pelled them to accept inferior goods, however fire for Japan and are encouraging' her 'to bawillingly. When the general scope of ask for more than her share, thus maked manufacturing industry in Japan shall haveing ourselves and our Ally deservedly un- made more progress and the Japanese traders popular with our neighbours. The whole pro- have come to employ more aggressive methods ceeding is suicidal and unnecessary. We are In business, being not content,' as hitherto, || acting to the detriment of China and of Bellish merely to supply what is ordered, as has hither-, commerce with the Ualled States, is the teach to been the case, the complaints regarding the of our solemn agreements. Let us hope that inferiority of Ispanase goods may be isoned wisar counsels will yet prevail in Downing to a material extent--Japan Chronicle, Strest"-N, C, ZENOL
The Captain Superintendent of Police report- that the Mixed Court bad remained closed "undar sent" since the last meeting,
Ordinary routine business was transacted.
(Signed), W. H. WALLACE,
** Chalimans! By order,
O. BARKULAY MITCHELL, S