JIGS"
THE "STAR" "FERRY CO., LTD.
ANNUAL REPORT..
The report for presentation, to shareholders at the twelfth ordinary annual meeting to ba hald at Mesurs, Gibb, Livingston & Co.'s office, At 12.15 pm. Saturday, 21st May, states:-
The directors have the pleasure to submit to shareholders their report, with staibment of accounts, for the year ending soth. April, 1910, ACCOUNTS
THE HONGKONG TELEGRAPH SATURDAY MAY 21 1910
SENAWANG RUBBÈR ESTATES 60. LĐ,
ANNUAL MEETING
The fourth ordinary general menting of abarabolders in the above company was held at Shanghai on 9th inst. Mr. L. E. P. Jo201 provided, and there were also present. Mr. F. Kronenberg (director), Moars. How Sre-loung A. Sinclair, G. Grayrigge, O. L. libert, H. J. Clark, H. Vogler, E. B. Rows, W. G. Pleie, 3. Mordhorst, R. Carr, A. S. Bremner, J. Stampff, G. H. Polts, H, E. Suadgett and the Societary, represantion 750 shares
The net earning of the boats, after paying all working expenses and providing for a loss of 513,288.18 on subsidiary coins, amounted to 541,875.0$ & against $38,563,58 the previous
After notice calling the meating, had been your.
The amount at credit of profit and loss ac.read, the Chairman addressed the shareholders
as follows:- count, after paying for repairs, allowing for directors and auditor's fees and placing $6,850.00 to credit of loturance fund, i $30,159 34 which, with the approval of skare- boldars, it is proposed to appropriate a follow
To write off boats ........ To pay a dividend of 7% from work.
ing profits ............. To pay a bonus of 5% from interest
Recoudt To carry forward"....
DIRECTORS.
17,000,00
Mr. E. Shellim Joined the Board in place of Mr. G. Friesland resigned.
Mr. J. W. O. Bonnar, Mr. J. Bandow and the Hon. Mr. H. Keswick joined the Board in place of Mr. E. Stallim, Hir C. P. Chater, C.M.G., and Hón, Mc W, J. Grosson, resigned. "In accordance with the articles of association Mr. J. W. C. Boonar retires, but offers bimself for re-election
AUDITOR,
The taxolution was unanimously adopted, on the proposition of Mr. O. Mordhurst seconded by Mr. A. S. Bremner."
.............. The Chairman thanked shareholders for their attendance and sold dividend warrants would be sent out ip, due cours
The meeting then terminated..
KUALA SELANGOR KÜBBHR.
FURTHER INCREASE OF PLANTING: AREA.
PAST YEAR'S WORK REVIEWED.
ww
The fifth ordinary general meeting of the Kuala Selangor Rubber Company, Limited, was hold last month at 20, Captball Avenue, London, B.C., Mr. William A. Hora (the chair man) presiding.
་ "
WAGLAN LIGHTHOUSE.
WATER FAMINE 'RELIEVED.
x4th inst.
UNITED SINGAPORE RUBBER ESTAJES LIB,
EXTRAORDINARY: 'MEETING. -
The minutes of the last extraordinary mast ing were read and confirmed.
*
CENSING BOARD.
THE O. SE. AND THE PACIFIC CONFERENCE.
ONE NOMINATION MADE.
14th inst.. The othar -day wa' mported that the Euro-
The election of a Justice of the Peace to serve pana lighthouse'keepers and Chinese assistants An' extraordinary general menting of the on the Licensing. Board has bean cancelled, stationed at Waglan, were reduced to short shareholders of the Valted Singapora, Rubber and will not take place at the meeting; of commons owing to the water enpply on the Estates, Limited,, was held at-Singapore on 11th the Board suumoned for Wedossday nixt. island giving out. We added that arrangeinst. Dr. Lim Boos Koog presided and there'Only one nomination has been received for the ments had been, completed by the Harbour were also present: the Hon. Tan Jink Kim,' vacancy caused by the rugostion of Mr. authorities to despatch a sufficient supply of Mrs. G. Pryon, Messrs. Tan Chay Yes, Chos D. W. Craddock. Mr. Alex, Mackenzie, the water to replenish the empty tanks on the Giang Thre, Yow Ngan Pan, Lee Choon Guan," domlase, will be elected without opposition": rocky isint. The tender Stanley, which has B., Robertson, Lim Neo Soon, Too Choon dope duty in all manner of service, from a des Hian, Wee Tob Tong, A. D. Machado (ma patch vessel on the Governor's ceremonial visits nager), Sob Pong Lim (secretary), S. O. Yin, to neighbouring territories to a scavenger ves. Yen Bau Kong, Seah Eng Kiat, A. Deaker, P. sal after a severe typhoon, was commissioned Dunerin, Tan Jiak Ong. Tan Soo Jin, Law Slow manner in which Gupt, G. L. Willoughby, of San Hin, Ong Soon Teo, Tan Boo Liaf, Teo for service yesterday as a water-boat also. The Tin, H. A. E. Thomson, Snow Poh Long, Koh the steam tender, carried out his novel com Choon Yean, and athers, mission is creditable to that officer at the samo
16 tons of water. Having filled them to the time as it is interesting to record. The ship's tanks are capable of holding only some brim twelve beer barrels, which had boon also filled with water and carried to the site on leaned by Messrs. H. Prica & Co, L., were deck. Besides, the loan was also obtained of a one-ton canvas tank from the Fire Brigade Dapartment; this was also carried os deck. So that when the Stanley steamed op for Waglan she had a liquid freight on board of not less than 22 tons altogether. with her stora some 30 feet off the landing Arriving at Waglan the Stanley was anchored stage and then a list was sent ashore, and she has pared ID the rack. It may hose was used in passing the water from the ship to the tank on the summit of the rock. The height to which the water had to be puraped were quite equal to the task and after sixteen was175 feet. Tho Stanley's pumping appliances tons of water had been filled into the tanks, the work was completed, and the tender returned to Waglan will have a supply enough to last them Hongkong. Itis believed thatthe lightkeepers at seven or eight weeks independent of any taip. fall.
the conditions.
Me Chon Giang Thys propoted:-
per share, making a total amount of capital and applied again to be allowed to increase tao, bo of igtstast to know that samo Boo feet of "regulations contalaed in the printed' document railway company increased. This (according
Why we should sot, have been
Gentlemen,The report and statements of accounts have been in your bands for some time. I presunit we may, as usual, take them as read. Before, however, proposing the" ra solution to adopt them i should like to make a sald:-This property, when we first commenced In the course of a long speech, the chairman lew remarks. Referring to the accocols, the developing it, was in a new district. We took amount at credit of Proût and Loss Account is Tis. 55,877.76 which forte first working year is 240 odd acres in the first, year. From the so up 1,200 acres, and we proceeded to plant some 10,500,00 considered by your Directors to be highly sults of that planting we were so satisfied that
satisfactory. Of course the high prices at
we wanted to make larger property of it, and 7,500.00 which rubber has been ruling has added to this 1.1914 very desirable result., Turning to the. Balanceeromest, and asked to be allowed to take up an
we applied to the Federated Malay States Gov- Sheet under the heading Capital Account it will $36, 39.14b zoliced that the outstanding call last year on
other 1,000 acres, but these sapient gentlemen, in their wisdom, said they thought 1,300 acres part of the 3,con first issue of shares have was quite enough until we had shown our bana- all been paid while of the 382 shares of des. We thought we had shown them up to the second issue 63 have been fully-paid that time, but they evidently did not think so. up and 320 have beco paid up to T. 40 We then brought the planting up to 750 acres, to the end of the financial year of Tis 16 area of our property. These sapient individuals 000.00.
is of accubus 1st srce the last then said they could not allow as to do that be statements accounts has increased to Tls. 40,000, but the directors are making arrange Peninsula.
Cause we were not residents in the Malay. ments to pay off these during the course of the allowed to spend money theie i do pot know. current year, Sundry creditors represent Tis The consequence was that we were restricted 701, outstanding in Singapore and Tix 1285
to our original 1,700 acres, but we have since got baughai, the latter including directors and auditors' fees. Suspause Account is the usual our own property, but, as a property like ours from the natives some 300 acres abutting on to item for quit rents for the month of Jaovary. necessitates the erection of a complete rubber Premium on the 600 shares issued in Novem- plant, rubber curing machines, and so on, we
| ber iguo remains ne balore. The cost of the
were still desirous of enlarging the area of the purchase of the property is the same, as so the
estate because 1,500 or 2,000 acres could be previous year's accounts. The development almost as cheaply managed, far as manage expanses for the year are practically the same ment and the expeases of machinery and so on as those in the preceding a mouths vix same
o original 1,200 acres. $46,6: this year compared with $45,634 last are concerned, as could the year. in the last year's, accounts all revenue
OFFER UNDER CONSIDERATION, was deducted from development expapers, but in the statements before you all revenue has been credited to working account. The stock of rubber in Singapore has been valued by. our Agents there at the.custoniary ruling figure viz: Singapure dollars zoo per pouad all round which makes a sum of Th. 4772.00 taking Exchange between here and Singapore at 10. The shipments en route to Luadea represent the actual proceeds realized, the figures having been sent to as by.cablegram, $311,075.07 and the total sum is Tis. 29,584.00. The Shanghai office furniture remains as in the last set of accounts while the estate buildings and juraiture are repreispind it the valuation
Mr. W. H. Potis his audited the accounts now presented and offers himself for re-election.
J. W. C. BONNAR,. Chairman
Hongkong, 14th May, 1910.
BALANCE SHEET, 30TH APRIL,-1910) Liabiliting.
Sto
each fully pardup $100,000,00
To Capital.
10,000 shares
10,000 shares @Bio
each $5 paid up... $1,000,00
Reserve land.... Insurance fund........... Upcinimed dividends............ Accounts payahlı............................................. Balance et profit and loss *****
Ansats
cts.
*170,000.00
mo 65,000.00 55,830.89 1,035.00 3,050.04 36.159.14
By value of boats, as per
last account.........................$ 47,000 By-less wiltten off.
10,000
By Accounts receivable...
By Hongkong and Shanghai Bank- ing Corporation.................................... By Hongkong and Shanghai Bank- Ing Corporation No. 7 account By Hongkong, and Kowloon Wharl and Godown Company, Limited, load masala
$137,000.00 3,550,37 4,389 8
1,035.00
165,000.00 $311,075 07
4..
BAZU'ANAM RUBBER GO,
An extraordinary meeting of the shareholders of the Datu-Anam Rubber Co. was hold at Shanghai on 9th inst The menting, which was an entirely formal one, was presided over by Mr. M. Speelman, and the others prasent included Masers, R. J. Craig (que of the Lindsay, and Maurice Beck, who acted as Directors) J. P. Roche, A. J. Waison, G. S. Secretary to the meeting.
Mr. Back having read the notice calling the meeting, the Chairman spake as follows:-
Gentlemen, this is a-purely formal meeting and is called in order to comply with the Hang. kong ordinatices. The company was duly incor. paraled on February 8in. The estate has
I have now under offer a property adjoining ours-2 property that has been kept in almost as good a condition as ours bas, if not quite. figure. We shall be able to take that property bave that property under offer at a reasonable and to pay for it by issuing the 4,000 sharas that we still have unissued. If we were to give. the present shareholders the right of taking them up at a considerable reduction on the present market value of the shares we could pay or that property, and we could bring it up to the producing stage, which would inv:ive probably andiker two years, though, a little of been transferred to the 'company and at pre- it will come into production next year. If we sent the manager, Mr. S. W. muorhoose, is can do that we shall beo have 1,415 deres of making preparations for a vigorous planting planted ground all round our factors, with palicy and this autumn your directors hope good roads around the estate, the properly to have at least 500 acres more under rub. being in a high rate of cultivation, and in what ber. There are two assistants on the estate. our visiting geat asunies me richest parts of the Malay Peninsula. This, I Agents are Messrs. Barlow and Co. From sil one of the Mr Campbell and Mr Black, and the Singapore think, will be a very satisfactory condition for reports at present to band, matters on the estate us to get into, (Hear, hear.) Whatever the are progressing favourably. Steps have already price of rubber is in future, I do not think there been taken to see that the buildings are put in is any part of the world that can produce it at proper order to accommodate the staff. Chere a greater profit than cas the Malay Peninsula, is nothing more to do to-day and no business by thanking you for your attendance this afternoon.
The meeting then terminated.
|
CUT, RATE 'COMPETITION AVOIDED.
The Qraka Shosen 'Kaitha announced on Monday, and inst., that it has joined the Paclic Freight Union on the North American line. **** The tow, system will be adopted' with the The Chairman explained that it was awk | steamer Chicago Maru which leaves Hongkong... ward to work the Company under the copy on May 8th. With reference, to this it ditions of Schedule 4 of the Companies's repasted that the Osaka Steamship Com Ordinance, which stated that twenty share-pany had already showed its willingness holders had to be present at a meeting join three or four months ago, but Kvan when a bonus was to be paid out, the was unable to do so owing to the in- Directors found it very difficult to carry out fuence of the Chicago, Milwaukee.St. Paul Railway Company. The freight on raw silk in 56 par bale between Yokohama and New That as from the date of the confirmation | York, of which $4 in the railway freight. Thus contained in the first schedula to The Cam-52, but it lowered the rate to St. Asa cosult of of this resolution, the provisions of table A, the Osaka Shosen Kaisha could have recaired panies Ordinance, 1889, shail not apply to this decrease, the Japanese company was pa this company, but that, in lion thereof the conised, and the freights of the American submitted to this meeting, and for the purpose to the Japan Advertizer) was the rească. of identification, subscribed by the Chairman why the US. company did not consent and Secretary of the company, bs and the to the Japanese company's faluing the same are hereby approved, and that the same
American Shipping Union, because it tions of the Company, to the exclusion of the increased the freight rate, the volume of goods be and they ate hereby adopted as the regula was thought that if the Osaka Shoaan. Kuiska to be carried by the Japanese company us ́well -provisions of the said table A.”
as by the foreign railway company would gradually decrease. The other steamibip companies, which are members of the Ship ping Vaion, were dissatisfied at the aliitu- ed of the Úsaka Shosen Kaitba, and they decided to cut the rate by half and actually carried out the decision beginelog with the N. Y. K steamer Kamakura Maru and 'the' P. M, steamer Mongolia;,which left Yoka- bama on April 27th. The competition was The Chairman said that the paying of Direc-1 expacted to grow saribus. In order to avold. lars mentioned in the articles provided for the it a representative of the Osaka Shosen Kalaha would draw no remuneration until a dividend the Milwaukes Railway Company, and obtain future and not for the present. The Directors interviewed at Shanghai' a representative of
end and must be prepared. was paid. They were now in view of a divided the latter's consent to join the Union, OR
Mr. Tan Chay Yan seconded. The Chairman then asked if the amended articles of association were approved.
Mc Ten Choon Yan said that in the pros. pectus it was clearly stated that the Directors were not to receive any samuneration until the Company was in a dividend paying state. to noticed that in the articles the, Director were to receive bonuses.
Monday morning the Oraka Shosen Kaisha Mr. Choon Yau was continuing his opposition proposed to the Nippon. Yusen Kalabs to join, to the bonuses for Directors,, when the Chair-nod the latter forwarded the proposal to the Headquarters of the Union at Yokohama, man requested him to put an amendment if he Thus the threatened compelltion was avoided. desired.
deleted...
Mr. Seow Peng then moved that articlo 83 ba
Mr. Choon Yan seconded..
The Chairman said the Directors would leave the matter entirely with the shareholders. They were bound by the statement in the prospectus,
but the shareholders had to consider whether
placed upon them in the estate agents accounts, Sundry debtors represents principally cash in the bands of Messrs. Barker and Co. Singapore, The balance in the Hongkong and Shangba Bank is as shown Tls. 1,9.2.2. Preliminary x peoses have been increased by the expenditure under this beading during the year to Tis. 1,008,09 gad from lue total accumulated sun of Tis. 17,588.88 we have written off one-third, only carrying forward Tis. 1,725.92 lo the current year's accnuóts under the authority and aud, as we have an opportunity now of calarg, to transact, 10_l_will.conclude my faw remarks meat had to be made to pay the Directors advice of our auditets. ¿D regard to the bstatesig our estate in the very best part of it, I think a further 700 acres has been felled and planted it is a thing that we ought to do: The matter guring December 1909and January 1910 making is not dedatiely settled yet, but we have an 950482 à total area under cultivation of 886 acres, All offer in the form of a letter, and a formal
the rambong sets, cic, have been leiladauw process signed. 6,837,00
as the revenue from all these sources was not 3,100.00
I notice that a short time aga Sir Frank Swet- 36159.14 satisfactory, The average number of trees tenham made some very caustic remarks with topped per moaib during the year was 7,300 regard to rubber prospectuses and rubber pro $54,013.96 the smallest number being 3,713 in July and positions that have been put béfore the public the largest number 11,843 in January 1910.iately. He stated that a great many companies 3,121,43 The output of dry Para rubber for the had been Bosted in which he thought no one 41,895.05 | 1 moaths, a you know already from outside à lunaic asylum would have invested a 8,816.98 the monthly returns, was 23,870 ba shilling. I quite agree with these remarks my.
43,00 and the average output works out at roughly self. 157.50 lbs per tree." The average cost per acre for
PROFIT AND LOSS ACCOUNT.. To ordinary repairs and alterations.$
Insurance, fund Directors' and Auditor's feon balanco.
By balance from last account......... By melt osenings of boats
By interest....90129143 +9+48 Hy Scrip ite
By unclaimed dividends forfeited...
INSURANCE FUND.
To balance forward
$54,013.96
$ 55.830.39
$ 55, 30.89 By balance from inst account........ $ 48,980,89. By profit and loss account *****
6,850.cn
$55,830.89
THE CATHAY TRUSI, LD.
BO CALLED RUBBER PROPERTY
די
THE KING'S DEATH,
DURATION OF MOURNING.
16th inst. by the Officer Administering the Government The following cablegram has been received
from the Secretary of State for the Colonies:
Public mourning will continue qutil the 29th July, bilf mourning after 17th June," "
DEMONSTRATIONS OF LOYALTY.
London, Jath May.
On being put to the vote, the amendment was carried by nine to four. Section 83 is to be deleted. The articles of association as amend ed were passed with no objections,
· · SHANGHAI "RIVER FATALITY,
CAPE. D. M. KAY DROWNED.
It is with slacere regret that we have to re Marshall Hay, master of the P. & O. teader. cord the death by drowning of Capt. David they could get business mea to give up their Quila and one of the best known and most time for nothing. They only proposed $1,000 popular members of the shipping community for eight men. If the shareholders expected nya tho N. D. C. News of the 13th
BAY them some remaneration. the Directors to work for them, they must give appear, OR Wad patent ma
entertainment,, în company with some friends, and shortly after The Hon Tau Jisk Kim said he was inclined midnight took a rich to the Chaolang to accept the amendment, bat some arrange Road jetty. There be engaged a sumpan.. when dividends were paid. He was of opinion, was anchored on the Pootong side of the river. to convey him to the tender Gufelag, which however, that the Directors should not get There was a very strong flood tide running anything, until dividends were paid.
at the time and on reaching the tender, the sampan;man had to turn his boat' round to get alongside the gangway. The sampan struck hard against the tender, juit as Captain Hay had put his hand on the gunwala of the tender and was about to step on board, and almost immediately the sampan was cap- sized and the deceased and the sampan-man ware thrown into the river. The crews of the touders Vulcan and Victoria, which were an chored close by, beard cries for help and at once attempted to render assistance by throw. ing life-buoys out. The sampanmEN WAS FEE. cued and taken on board the Vulcan, but nothing further was soon of Captain Hay and it is presumed that his body was carried underdeath the lighters which were tied op alongside the tenders. Information was given at once to the River Police, who throughout yesterday morning made a dili gent search for the body, but without success. The overturned sampan was found wedgad between the propeller-blades of the tender Victoria and the lighters.
The Chairman said they would be put before. a subsequent meeting for confirmation.
Dr. Lim Boon Keng said they had received, 600,000 shares from the sale of the Semba wang property, and the directors wished to ascertain from the shareholders, whether they would sanction that a certain portion-100,000 -be divided among the shareholders and the balance held in reserve, after deducting a cer- tain amount as bonus for the Company's em ploves and the directors. It was proposed to divide 5,000 shares among the manager, assist. ante, secretary and the clerks in the office and clasion of proclamation, they spontaneously
Dense crowds were present, and at the cop.500,000 should be given out to the shareholders raised a great shout of “God save the King and sang the National Anthem. The round of the tremendous cheering and the singing of the City. the National Anthem rolled from St. James' to
A thrilling scene was witnessed at the pro- clamation of the accession of King George V at Bt. James' ralace.
weeding has beca reduced from $2.31 to $1.72}
his latter figure is slightly higher than tho How the public can go into certain kinds of estimate but could not be avoided. The total investments is really a guzzle to me. I do not estimate under this beading for the current think they really read rubber prospectuses, year is $17,117.ou.
In regard to the labour They look at the capital, and they look at the question our manager reports that be has been area. But there are numbers ní rubber pro.. experimenting with Chinese in place of Tamils positions that I know, for an absolute fact, have and finds them much more satisfactory and at.bees foisted on the public that are hardly worth tributes the increased yield of rubber the the paper they are written on. It is a very Excelleet, work done by this class of labour. easy thing to go and pick up a black of land, Taking the results of the year's working as shows by the accounts, I consider we can con rubber, but when you have put it in you have and put in any number of hundred acres of
gratulate ourselves, and, with the continued a great deal more to do afterwards. This is high price of rubber we ought to be in a position, when the scientific man comes to the fore-
THE KING'S MESSAGE TO THE NATION, to show still more satisfactory reports at the when you want a good manager. I bad a pro.
London, 10th May, end of the current year. During the month of perty offered to me some time ago for £35,000. nation in which he says that, knowing the feal- King George V has issued a Message to the November 195g your directors catered into a It sounded a bargain. cabled out to the Contract for the sale of 1568 lbs. of rubber Malay Peninsula to have it inspected. My re
ings of his father, he hopes that the mourning. A mesling of shareholders in the Cathay this year at 74. 7d. per ib-delivery 6710 from presentative there inspected it, and cabled will not interfere with the Whitsuntide holiday.
· Trust; Ld; "was held at Shanghai on joth insi
January to June and 8,960 from July to Decem back that the utmost valuation he could put His Majesty also requests that the race meet.. Messis. J. A. Wanie & Co., Canton Road. ber. This, as you will probably remember, was upon it was 5,000, and he would not adviing at Ascot should not be abandoned, and, in There were present, Messts. J. A. Wattienothed at the time. Management--Au agree me to touch it as that. When bis written re-order to prevent many suffering from loss of (Chairman), D. Landale, J. H. McMichael W.
ençnt was concluded with Mr. Lushington port arrived i found he, stated that, in view of employment be requests that the theatres B. Clayton, A. M. Marshall, the Rev. G. Castrillo 1909 and be is in charge of the Company's pro- condition the place was in, it would pay me fat should be closed only on the day of the funeral. (Directore), Mr. L. E. P. Jones (Legal Adviser), periy. Further assistance is now required and better to start on virgin ground, and plant it -N. G, D. Necs, · the Rev. A. Brun, Messrs, J. O'Shea, W. H; the Coinpany's agents are endeavouring to ob myself, than to take over this so-called rubber Bell, H. P. Wadmas, F. Loch Trevor, E. T. tain a suitable mao. They were unfortunate | property. The company has since been floated Byroe, W. 8. Davidson C. Rievely, and A. J. in not being able to retain Mr. Symonds, whet in London. (laughter.) There are a good Welch (Becretary) representing Messrs. J. A. for a short term was on the estate as assistant many chickens that will come home to roast in Wattie & Co.
EXTRAORDINARY GENERAL MEETING.
THE LVING-IN-STATE,
The Secretary read the notice convening the manager. In view of the fact that in such a Com. this rubber business before it is all over,ceive the body of King Edward, which will
meeting, also the fallawing motion:-
"That the Articles of Association be altered by substituting the following article for Article 6, namely:
6. The initial capital shall be divided into 1,000,000 Preference shares of 18f each sed 1,000,000 Ordinary, shares of 2/- each. Such preference shares shall confer the right to i fixed cumulative preferential dividend at the rate of o per cqat per annum on the capital paid up thereon and shall rank as regards dividends and capital to priority to the Ordinary abaros, but shall not confer the right 14 any further participation in profits or assets. And upon any increase of capital, Company shall be at liberty to issue any new share with any preferential Heferred, qualified or special sights, privileges, or conditions attached there
10.
"The rights hereby attached. 10 the Preference shares may be altered by specul resolution passed with the approval in writing of the holders of three quariars of the itaned shares of such class."
pany as this where development roosista longthink, and I should advise gentlemen investing time we have decided allow shareholders to any rubber companies of the kind that have have the full benefit of the profits for the year if been coming out lately to keep their prospec they desire it. According to the Articles of totes and put them away, because same day Association you may reduce the amount of this they may be of use to them. They will want dividend if you wish, but you cannot increase to confirm the statement or will want the pro- it beyond what your Board nuggest. Before moters to confirm the statements that have putting the sesolution to pass the accounts bees made in those prospectuses." shall be pleased to answer any questions to the best of my ability.
la reply to a shareholder the Chairman said the actual details of the arrangement with re gard to the redemption of debentures bad oot been definitely decided upon, but notice had been given, under the powers which the directors reserved themselves, to the debenture holders that payment would be made to them as the expiration of six months, and the directors now. felt that they were in sufficiently strong poaltion to be able to carry that out,
No other questions being asked, the eport and accounts as presented wore adopted on the proposition of the Chairman seconded by Mr. Kronenberg
་
FUTURE OF RUNDER,
Now as to the future of rubber, those of a who have studied the question and who were induced to go into the planting of rubber were induced to do so by getting all the statistics of the rubber that was planted in the world and also the statistics of the wild robber, of course, costs a great deal more to produce than planta tion rubber, and when you have produced it, it is of laferior quality. A great deal of it costs 25 8 lb. and over to collect, and when it is. collected it is not worth within 16. or 25, of plantation rubber, Therefore, it is an obvious deduction that whenever rubber falls to 34, a Ib. the bulk of the wild rubbar-the indigenous The second resolution, proposed by the Chair-rubber-will be weeded out. When you come mun, seconded by Ms. Krosenborg and carried to the breaking point of 31. alb. the greater was to the effect that a dividend of 20 per cent portion of the indigenous rubber cannot be on the paid-up capital of the company be paid. produced at a profit, so that the plantation man
Mr. Kronenberg was re-elected director, on
can sit down with the comfortable 'conviction, the proposition of Mr. H. J. Clark seconded by that his produce farvery many years to coma Mr. Vogler,
csonat fall below 35 lb. whatever happens, On the proposition of Mr. Ilbert seconded by and that when it does fail to that, or anywhere Mr. Rowe, Mr. G. Grayrigge was elected a sear it, the demand will be enormously in director of the Company, la mentioning this creased. Taking a property like ours, with resolution the Chairman said the Board felt it rubber at gs. a Ib—given that nothing unfore desirable that theiraumbershould be increased. sena happens it will still yield wary large Mt. J. H. McMichanl seconded the mailon.
Messes, Lowe, Bingham and Mathews were dividends to the shareholders on the capital of There were no questions, and the motione elected auditors on the proposition of Mr. this company. was carried pornimonily," fol
Stamp, seconded by Mr. Vogler.
The Obairman then said-Gentlemen: The purpose for which this meeting is called has bean made clear to you by the notice fust read. It is, in effect, to make the per cent. Preferenca sharos cumulativo instead of non- accumplaire. Wa, sre recommending this alteration on the request of shareholders, and the advantages of the change are too obrious 40 need further comment from.me.
If there are no questions I shall have pleasure
In patting the resolution,"
The Chimme Kogicsordog and Xizing Cole total output of the company trés mints for the week ending, goth April 1910 amounts to. #7,971.74lons and the sales during the period to 28,51370 100%Day
An extraordinary general meeting then took place. It had been convened at the request of bareholders with the object of passing the following resolution That each of the exist lng shares (of Tle, roc) be diyided into se shares" bf Tix: 5 nich.
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It was decided that the directors' temonor ation as from Jacuary 4, 1910, be at the rate of 100 each per annum until altered by the company in general meeting, Mr. Harn, was re-elected a director, and the directors were authorised to pay to the widow of the late maneger the sum of 200 gulasas,
London, tab May, Parliament mects on the 17th instant to rO-
then be borne to Westminster fall, where it will rest on a high catafalque, almost on the spot where the body of Mr. Gladstone lay.
It is estimated that two million people will view the body on Wednesday and Thursday,
KING EDWARD'S LAST WORDA.
In an interesting article on King Edward's last days the Daily Mail says that while at Biarritz His Majesty was repeatedly urged to drop busings and to keep to his bedroom. He replied smilingly, "No, my back is to the wall and I thail fight it out."
Theto solicitations were renewed last Wednesday and Thursday, but without avail.
King Edward's last words before he became comatose 'weza:-" No, I shall not give in. I shall work to the sad”—N. C. D. Nimi.
MARINH COORT CASE.
ALLEGED PILOTING WITHOUT LICENCE,
Captain J. S. Stevenson appeared at the Osaka Marine Court on 6th inat on charges of having piloted vessels in and out of Nagasaki harbour without a licence. The public Pro crater, in laying his charges, said that Captain Stevenson had piloted the Zenyomaru out of Nagasaki harbour on two occasions, on Nov smber 9th, 1908, and January 25th, 1909, and once into Nagasaki on January 1st, 1909. He had also taken the Chiys-maru into the port ou February 20th, 1939, and piloted the Minnesota out on August 11th, 1909.
Captain Stevenson, in his defence, denied that he had ever acted as pilot in Nagasaki barbour, except on the occasion, when the Captain of the Tenyomaru was overtaken with sudden illass just before the vessel loft port, and be therefore took charge of the vessel, there being no time to take a pilot On the other occasions he merely joined the vessels at Nagasaki to pilot them through the Igland Sen. -Fagm Chronicle,
me
In reply to Mr. Robertson, the Chairman said they could only recognise abaraholders
of the transfer book on the gib. whose names were in the books on the closing
Mr. Póh Leng asked what the object was in keeping 95,000 shares in reserva, Why not issue them to the shareholders? They should not be locked up to serve no good purpose 595,000 shares should be divided. pro rata and Done kept in reserve.
The deceased had been in the service of the P. & O. Company for a great number of years and prior to his arrival in Shanghai in July, 1891, held the rank of gunner on board the Company's str. Ancona. Bora at Greenock, Scotland, bo bad just attained the age of fifty years, and had intended to visit his nativa country in the only part of next year. He was a most carefal navigator, an invaluable servant to his employers, and was popular with and respected by all with whom he came into con tact. The greatest sympathy is extended to his widow, bis mother and his only son, all of whom are at Home,
al
The Chairmast explained that, from the polat of view of business, the Company would be much stronger in every way by having a large reserve and he need only up ply to any man of business to say if that was not a good object. The time would como when these reserve shares would be very valuable. Some great chance might come to the Company to buy other land and these
CAPTAIN. HAY'S BODY RECOVERED. reserved shares would be very ‘usafoi. The.
As the result of the dragging operations, the shareholders would get back half the capital of
body of the late Captain Hay; who was drown--- the Company, The scheme was recommended entirely in the interest of the shareholders."
ed on Thursday through the capsling of The Hon. Tan Jisk Kim thought, that Mr. 13th inst, bear the River Police Hulk, about sampan, was recovered yesterday morning, Pob Leag was labouring under a wrong in three hundred yards above the spot at which pression. The Directors were ontitled to a the accident occurred. Shortly after the body portion of the property. The Directors must had been recovered, the Corner (Mr. G, W. have a freehand to convert the reserve King) opened an Inquest at the Fearon Road shares into mozay whenever necessary. A Mortuary, and after evidence of identification large rakerve would greatly benefit the Com-bad been given, the inquiry was adjourned un- pany. The reserve shares would be in the ill Tuesday next, the 17th instant, at a p‚m,
name of the Company.
It was decided that 500,000 shares be divided among the shureholders pro rate and that 5,000 be given as a bonus to the employes.
In reply to Mr. Danaria the Chairman said the Company had a cash balance of $130,000,
Mr. Koh San Hin proposed that 10,000 shares should be given to the Directors as remuneration for their sorvices,
Mr. H. A. E. Thomson seconded
This was carried unanimously, the Directors
not voting.
The Chairman mentioned that at the last meeting he stated that a syndicate bad made a big offer to purchase their property. The Directors did not regret to say that the negoti ations had fallen through, principally from the news of the slump having reached Shangbai before they had an inkling of it in Singapore, They cabled to say that they withdrew, The Directore wore moi sorry,
The meeting terminated with a yote of thanks to the Chairman, Directors, Manager and Staf-Singappra Pres Press.
PORT OF CHINWANGTAO..
As an instance of the growing facilities now. afforded to shippers at the Port of Chinwangtao, it may be interesting to note that the sa, Kafe ping and a Zoba Alaru, * low days ago loaded a total quantity of 4.380 tant coal in at hours or an average throughout the day of 270 toas hourly, fro
Modem Tals constitutes a record at present for one day's works al Chinwanging ....
THE LATE KING EDWARD VII.
THE LYING-IN-STATE.
London, May 13, The remains of King Edward VII are in the death chamber clad in the uniform of a Field Marshal. The body will be removed to-night to the Throne Room for the private lying n
stato.
MR. ROOSEVELT.
London, May 12. Mr. Theodore Roosevelt has accepted the appointment to attend the funeral of the late King Edward as Special Ambassador on behalf of the United States.
A QUEENLY THOUGHT,
. Leader, Hái ra Queen Alexandra has ordered facsimiles of her letter to the antion to be sold and the pro- ceeds to be devoted to charity,
TO MOURNING SERVICES,,
go London, May 13. / Mourning services la churches and synago- gues throughout the country are being arranged for May 20. ABOUT
SYMPATHY FROM JAPAN,
Telegrams from Tandon state that : King
Tokio, May 13 George Vsummoned Mr. Takaaki Kato, Japan- 138 Ambassador to the Court of St. James', and hiked blan to convey promptly. His Majesty's profound thanks for the touchier sympathy of his ally the Emperor of Japan and of the Japan 114 people in mumerskud, GP News: