Telegram.
HONGKONG TELEGRAPH".
SERVICE,
C
SHANGHAI RUBBER
SENSATION.
THE HONGKONG TELEGRAPH SATURDAY JANUARY 14, 1911
they raued the prospectus, although it, was only for the loformation of those who had already subscribed, would not make them any the less ablo, when it is fund later on that there had been misrepresentations
CANTON DÀY BY DAY
MACAO'S DELIMITATION. [From Our Own. Correspondent.]
Canten, 19th January,
Here in the Far Eest directori, shareholders or and tors do not seem to hire a correct understanding of the!r" responsibilities. Ia-tection of the Beu-dary between Macao'and It is reported that the Society for the Pio terests are so mixed up together that no one lion has presented a petition to the Viceroy dares criticise the actions of the other except | of Cantor, the contents of which are as fol CRAIG, COMMITTED FOR TRIAL, and his great commercial centies it is cet has been deferred for long time and as it ia extreme casos. Unlike places like Lendon icws: "The boundary delimitation question possible for the shazebolder in critic'sa freely concerns the whole of China, is Excellency is and not incur the visitation of social and other requested to see his way to protect Chinese kiods of displeasure of directors on himself territory and pacify the minds of the people which is of far more consequence liste than Ever since this quest on arose, the petitioners elsewhere. The, auditer, who is s1-posed to act pe a check on the management, is almost about the matter. For several years, the Por hiva repeatedly petitioned the high authorities alway in cresture of the directors, and in tires tuguero have been of stress be cannot always be depended upon to safeguard the interests he undertakes to protect. 1 is true that bis first duty is to the
DEFENCE RESERVED.
[From Our Own Corraipondent}
Shanghai, Jan. 14,
12.35 p.m. At the Polico Court th's forenoon, Mr. H. J. Craig, a men her of the reholders and not to the management; but Municipal Council, and managing he knows that the management can remove director of the firm of Cra'g and is too cracting, or it is too freely, Company, who is charged with alleged fraud in connection wi h-the Sisk Indrapora Rubb r Co: cession, Ltd., was committed for trial.
Defendant reicrved his defines and was released on bail in the sum of $20,000.
DIRECTOFS, AUDITORS AND SHAR: HOLDERS
Capita! and Comnesci en December 30th published the following leading article:-
wiss in an existing concern.
EXERCISING THEIR INFLUENCE. Gve Chinese territory and bava attempted to acert their rights over the territorial waters
H.B. Kag Eth Him's a gotiators with Gateral fruit. Negotiations bave been resumed by the Machado regarding the dispute have not brze Ministry (Foreign ff.its, but without success The sinister accredited to France, H.E. Lin
The rames of the directors are a guirante: oftendees or otherwise of a starting concern or efficiency in management or other
k-fan, deputed by our Government at therefore, that prople wi o rush to have a more nevoiations. Oxing, presumably, to the se- It is a ply the beginning of the your to L'aban to renow conec ideestanding of their responsibilities.cent crisis in labor, nuthing of a satisfactory pumi themselves to be associated with con.
have board that the National Assembly has al ra'ure w.s accomplished. The petitioner
has made no definite curangements with regard ready rai cá this question'ind ike Government toile maner in dis pale. On tiheron-setti ment of the question, the minds of the perple dispute are bear the frontier of Kwong Tang are becoming agitated. As the territorien la the petitioners regard abemos a means of access to Kweng Toog. The Portuguess are alleged in the neighbourhord and the petitioners thick to have taken possession of some of the Islands their object is to exercise rights over territorial
Contritio 1.
cens without a proper knowledge of the business ey are going into. They know perfec ly well that their connection maken the A tation of the 'comp by easy, er keeps the shares of a company at a premium. Later, when things are found to go wrong it is no voy wise for them to roms forward and say that they, like other shareholders, have bee Now that it has been found that there are a victims of a particolar person or other, Direct- number of c-mpanies in Shangbai and else.ly or indirectly they are the means of many where in the case of which the statements papple losing their money, and that loss will contained is the prospectos have been found not be compensated for by their express! -g later to be incorrect or misleading, it may be Interesting, to discuss relations of drictors meus; their cerificates should be frank The responsibilites of auditors are root- to the shareholders. As long ago as 1867 the and full, and the sultor is paid to stato British Legis'a'ure bes exacted that aby pro that which he knows, and not paid to co spectus issued by a company limi ed by threshold protect himself. Sperking of the Itruct, such a certific ts which, in his oplaton, should give particulars of all.centrac's entered qualifications of audiors in a lecture to the lata by the company. The Hongkong Ordic carporated Accountant Students' Society of ances, under which Shaugh.i companies are London, Mr. Charles Dugld stated that they registered, and the Compazies Crdicsnce of required", ons skill untiring application, the Straits Settlements, although based on the As Mr Strachan, who opened the discos ion usswerving business habits and diplomacy." English law, are not so rigid or complete. In on the lectura sa'd They were a very high a decision recently delivered in the Lendon standard, but in retain, it that demand were courts in a case whrre ile e were material made, be thought auditors were entitled to two omissions in the prospectus,-Juice Neville be precction of the Leganes secondly, the Legislature. decided that bowever mtch a prorpicus way Auditors had very severe contests with boards effent the section of the sct, en spp icant for of directors, and their weapons were of a very the shares on the faith of the prospectus cannot mild character is loge reason, a ddiplomary. got out of his contract and must accept the inducing the directors to see the auditor's view Those cues in which the, anditor succeeded la allotment and pay the calls on the shires. The of things never come to light; they only heard applicant has, however, his remedy egalost of those cares when there was a qualification those who issued the prospectus, and preb.bly In the audi'cr's certificates. With regard to bis best course will always be to sell his shares speaking out, there was a great responsibility for the best price be can obtain, and then por- resting on the liter, and to speak out in some
cases might ecd.nger he company," sus bis remedy pga at tte directers and others personally for the pecuniary loss he bas-sus tained. In the cass of misrep estatalion, of course, the shareholder has his remedy by way of repudiation of the captrict to take abares But the si uation in Shopghai, and elsewhere in the Far East, has not been extcily similar. The abercho'ders have come to inaw of m's. representation or cmission in the prospector, on the strength of which they bought sharos, long fter they have paid f r'their shares.
- Wiits it is rufed that the shareholder, valess there has been flagrant misrepresentatior, can-
To-day's Advertisements,
HONGKONG HORTICULTURAL
SOCIETY,
TBW will be held on the 1st and 2nd
ANNUAL SHOW. THE FLOWER. and VEGETABLE
Estries to the Lion. Secretary not later thari of March in the Botanic Gardens.
the aard February.
Intending Exhibitors should send their
obialbed from the Hon. Secretary,
Copies of Rules and Schedule may be
L. GIBBS, 6, Beaconsfield Arcade. Hongkong, 14th January, 1;11
[813
NOTICE.
NOTICE IS HEREBY GIVEN that the CO, LTD. will be held at the Off of t
TWELFTH ORDINARY GENERAL MEETING of the CHINA COMMERCIAL Ewess & Harston, Alexiedra Buildings, o Naan, to transact the ordinary busiurns of the SATURDAY, the 1st January, 1917, at 12 Compaty,
J. SCOTT HARSTON,'
Chairman. „Hoogkong, 14 h January res
8 2.
FOR SHANGHAI, MOI, KOBE AND
YOKOHAMA.
THE P. & O. S. N. Co.'s Steamer
Neoa
Captain W R. Hickey, will leave for the above * CANDIA," plces TOMORROW, the i ̧th January, at
For Freight or Passage, apply to
E. A HEWETT,
Superintendent. Won, knag. 14th January, ori
FOR SINGAPORE, PENANG, AND
CALCUTTA
.[4
Taking Carge on through Bills of Lading to Rangoon, Madtas and Mauritius.
THE Steamship
Capt. G. F. Hadson, will be despatched for "ARRATOON AFCAR," the above Ports, on THURSDAY, the 19th 1st, at 3 PM.
petitioners are afraid that the passes leading to waters. A180m'ng this to be the case, the Kwong Tung will be lost. The eastern means of xavigating are in the band's of another sign nation. If Chica is to be deprived of the western pirts, she will lose an easy means of access when engaged in operations, restored to China, the petitioners fear that the rights over territorial watera be not
safety of Chian and the probable consequences. other nations will demand similar rivileges.. The petitioners are rather undany as to the Molecver, the singleaders of the anarchical Macao as a place of shelter and also for smug movement always use the neighboatbord cf gling arms it to the interior. All disturbances have been caused yths engtorious characters. of the peace, caies of Incendiarism and robbery Anxiety is felt by the Government as to the safety of the 8:uth. The petitioners in sop. port of their petition give as the ground for it a'r fears the fact that foreign dations may consider the present matters
ESTABLISHING A PIECEDENT. The petitioners concluded by saying that rte queition should be settled at any cost, His Excellency's assistance in this matter is
It is to be regretted that there is very little of professional occu'aucy in the Far East-sought for.. that kind which can reader servire to the com- musity and lovestors by pointing the real posi
ira of the companies they are interested in. The auditor has to use got tect in order that h's stlemen's might not be misconstrued as damaging to the company's credit, Abova all there is the competit as, which to a certain extent has the it fluence of making the auditora subservient to the management. As one of the speakers in the 'discussion referred to above 1ste the auditors era bandicapped in that if the directors and audito's differed in the mode of the presentation of the accounts, and the Auditor did act.see his way. to assent to the legal advisers for their assistance and support Auditors could not do that." It must also to conceded that owing to the apathy of hs ahiro-, holders as a rule the audit as do not get that
to get. amount of support from them which they ought
NANKING EXHIBIT ON
事
H.E. the Vice:07 has received a despatch from the Viceroy of Nacking slating that the exhibition in Nanking bes bicca sa experimental affair so the success attending it bay won the admiration of both Chinese and foreigner. The exbiblilcn'owes its scccess to the mutual V cerny of Nsaking infom:d the Canton carp ration of other provinces, H.E. the Viceroy that the gentry who have been depated to be not to sssist in the preparations for and diligence. The exhibition bas cow been the holding itle exhibition ave mes if energy
Tuog have taken to false step. Their vices should ever be forgotten and they should be rewarded The Canton Viceroy is asked what form the foward to the gentry should take and is informed that they have been provided with passages home.
For Freight or Passage, apply to
· DAVID SASSOON' & 00, LIMITED,
Agents, Hongkong, 14th January, tor.
+814
FOR SHANGHAI, KOBE AND MOJI. THE Steamship
Captato A. Stewart, will be despatched for "JAPAN," the above Ports on FRIDAY,, the oth inston, at Ncoa,
This Steamer has Superior Accommodation for Passengers, I installed throughout with Electric Light and carries a duly cortlied Doctor.
RETURN TOURS TO JAPAN (Occupying 20 days).
The Steamers leave about every 3 weeks for Shanghai and Kobè (Inland Sea), returning via Moji providing a stay of 5 to 6 days in Japan.
China Steam Navigation Co,'s steamers.
Return tickets are available by the Indo-
Fare for round trip S:20.
Intimations
POPULAR
"ASAHI".
BEER.
PRICES:
14 Dos. Quart........................$13.00 per cais, 8 Doz, Picts... $13,50 Л . Hongkong, 16th December, 1910.
[34
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*q and spus (4
NOOVE
pas NVH
HSITONT
доно УЯХН
MANCHURIA
SOUTH
RA
RAILWAY
SHORTEST & QUICKEST ROUTE
BETWEEN A
THE FAR EAST & EUROPE, vin DAIREN. WINTER SCHEDULE.
(Effective till April 30, 1910.)
with the Trans-Siberian Express Trains and with Dafcen-Shanghal Direct Steamer Sarvice by EXPRESS TRAIN SERVICE, composed of excellently equipps Slasping, Dlaing and
the SS. "Kohe Hara and "Saikio Maru" (each 2,877 tons) as follows (— 1st Class Cars, is operated betwaan Dairen and Caangchas four times a weak in connection
Stanghai (Steamer)
NORTH BOUND.
וו
1st Class Fardy
540
V1495
www.LY.
Thurs. Stn.
Daven Mokdea
LAT.
(S.M.R. Train)....,Lv.
**
)...Ar.
6.00 p.m. Sun.
Sat. Tues.
Thurs.
Fri.
Yır.ja
R 9.65
1
J.LV.
7.45 km 9.00 "
Moo. Wed. Fil. Set.
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ม
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Changcboo (
Harbin
)...At.
9.55 .
33.
21
(Russian Train)...Lv.
11.35
"1
> ..Ar.
7.35 pm
'Sta'e
Wagon-
xpross
for
Jascow.
Lits for Мовсок
Connecting at Harbin with?
State Express for St.
State State Wagon. Express Expresi
Lite
from St. from from
Pet'g. Morcow.| Morców.
Wed. Fri, Thurs. Sat,
Park,
SOUTH: ROUND,
Connecting at Harble with
R 960
Harbla (Russian Train).Lv. Changchun (
(S.M.R Train).LV..
Y11.50
Mukden
...Ar..
Ar. LV.
7.50 p.m.; 0.40 am
Mcn..
Tues
7.00
Suo.
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1.40 pm.
#
31
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7.03
Yi4 50
Y40.00
P
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Datica
)AT, 10.30
#
10
(Steamer) Shanghai (
Noon Wed.
SCD
Fri.
.Tues,
(815
For Freight or Passage, apply to
DAVID SASSOON & Co., LIMITED,
Agent Hongkong, 14th January, 1
LONDON RUBBER PRICKS.
Malacca, January 1.-Information has been
Supplementary Charges on DAIREN-CHANGCHUN Servico. EXPRESS EXTRA FEE¥3,00
SLEEPING CAR SUPPLEMENT........Y5:00 TICKET AGENCIES-The Company's railway and steamer tickets are obtainable at all
Lot get out of bis controer, it is equally nices direclos' view, the directori call d in their brought to a class: The deputy from Kwang received by Malacca Rubber Flantation, Limit. the Agencies of the International Sleeping Car & Express Train Go., Messrs. Thos. Cook &
sary that the di ector and the promo er who publishes statements on the strength of which the shareholder puts h's money in the company stould have far hewler responsibilities. In a Case recently tried in Singapore cera'a im- portant points were referred to by Justice Flaber in the couiss if his judgment. "The plaintiff's case was that he was icduced to take up 100 shares on a circ.lar, or temporary pro spectus of the compar, which contained cestalo statemenis as to the planted subber,
DWD
The nature of the relations bitten the dire tors and abareholders in a public corpera ilun bas rever. beɛa chrzcily defined. To a fense the former are the trustees of the funds and business of the latter, and are responsible for the sae and conscientious cinylag out of' the trusted bip. As in the majority of cases age of tress and income fram topicca. Anche di ectos pre m-re vitally e nntced with other thir gs it set forth that there were $3 acre ordinary shareholders in thatthey possess more the companies they control than any of the of trees five years old. When the prospectus perests is the company than the average was istuid, however, (defendant being direct), shareholders it happies that their It was flued that there was a large discrepancy interests impel them to manage the concern to between the circular signed by the plaintiff and fellow shireholders. Again, they have the the greatest advansgs of themselves and their en which he subscribed for shares and the facts special and technical Inowledge crier tial for a cenified by Mr Farby. In spie of the fact the busin ss, and even if the shirebolders do that the plaintiff, when the real prospeć us
like to have a certain sort of control over tt em came out, gave notice that he wished to rescind they are precluded from doing so owing to the his contract, an allotment was made. The
want of such knowledge. I seed not be point at issue was whether there had been a
repeated that a period is elected a director simply because besides the qual fication neces simple breach of contract, and whether, if there sary, fe has the confidence of the shareholders was a difference between the two documents So it wil be futile if he is to be often passend the defendant agreed to refund the money appreciable value. At the same time it by people whose interests in the corcan are of The defence was ibat the plaict ff was not in ought to be exceded that, especially in the duced by defendant to sign the documeat, and Far East, we have a class of shareholders who that defendant never promised to retura any
&e urcommonly apa httle, and take little paymoot."
iolt lligent Interest in the busions la which | necosunty for the shirebolder to poster the they have their lands invested. It is not director le ys but a more in ligect interat taken by him will lead to more efficient management on the part of the directoin.
THE SIAR MIXTIYO, The Editor,
CAPITAL AND COMMERCK."
Shanghai, December 21, 1970. Bir-As a full report of the proceedings of on December 2nd appeared in your co'omai, 1 the meeting of the Siak Indrapse a Co. held shall be obliged if you will pirs poblicity to the enclosed letter-Yours truly,
R. J. MARSHALL,
Chairman,
Sink Indrapoera Co. Country Club, Shangbai, Decembar 17, 1910.
A SHOCKING DISCOVERY,·
ed, that the price of fine Pata in London yes- today was 5/7 per lb, sellers.
The market closed steady,
A wire dated the and says the price is unai- tered and the market is quiet-Straits Times-
On the 9 b oight of the 10 b moo, the NamPORTANT SHIPPING APPEAL. leok v lage, of Hambol district,wes attacked by robbers ad four persons welc away to be held for ransom. On the night of the 10th inst,
The House of Lords met on Dec. 13 for the ciuzht sight of the corpse of a bylying case-Owners of cargo of the steamship Yozg a number of villagers purpose of del vering judgment in the appeal by the roadside with the belly cat open.or the Astral Shippi:gCompany (Limited), Attached to the dead body, was a small
amis cf the deceased parents. It appears aware whether, in case of a collision in which piece of board beating an inscriptors the which raised the important point to cargo that the robbers demanded several thousand both vessels were to blame, the owners of cargo dollars for the release of their captive. The could ob'ain damages from the owners of the dose to death, could not redeem the boy, which other veesel in full or to the extent of a molety mother of the dead boy, who hid been foully culminated in the awful tragedy al::dy only, corded. "
LUNATIC'S TRAGIC END.
.
Son, and the Hamburg-Amerika Linie,
RAILWAY HOTELS-YAMATO HOTEL (Tel. Add: "Yamato ') at Dairen, Port Arthur, Mukden, Fushun and Changchuo, ali under the Company's management.
SOUTH MANCHURIA RAILWAY COMPANY,
Tel. Add. "Manteiou?
DAIREN. Code: A.B.G. 5!1, EA, AJ, & Lieber'a,
AL
FUSHUN
THE BEST STEAMING COAL IN THE FAR EAST. "`-
Output 3,000 tons per day. Fresh stocks always on bind at Daires, Newchwang and Tientsin Depots and also al Cheloo, Shanghai, Hongkong, Singapore and Penang.-.-
MINING. DEPARTMENT,
SOUTH MANCHURIA RAILWAY COMPANY,
DAIREN.
Hongkong, 1st January, 1911.
KAISHA, LTD.
The case was argued 'last month before the || Tel. Add. " Montetsu," Coder: A.B.C. Sh. Ed., §. 1, & Lisberte. Lord Chancellor and Lords Halsbury, Aiklos, A middle-aged man surnamed Chan living
Agents: MITSUI BUSSAN in the west of the city recently went out of bis and Shaw, when reliance was placed by the mind. Although he was medically treated, axespondents upon an old Admiralty rule which coure trouble, the members of his family had each vessel was to be held liable for the molety cure could not be effected. Fearing he might was to the effect that in such circumstances the madman tied up in a aged to release himself ferm captivity by break cargo owners from a judgment of the Coast of morning of the 13th-inst., the frantic man mao.
room. On ibe el damages resulting. It was an appeal to the ing the strings which bound him and fell foto Appeal, which upheld a decres of the Admiral- well. When his family heard of his predicaty Division dismissing a mailon fiied by tho ment, they ran to his assistance. They found appellants in objection to the registrar's repost the man dead in the well. They afterwards and ccnfirming that report. The registrar had the body taken out and repor ed the occur. Magistrate to send a deputy round to examine amount damages. rence to the polics, who asked the Nambol allowed. the appellants only one half the the corpie.
MINING RESOURCES.
t
The LordObancellor, in delivering judgment, sald he should be glad if he could award the appellant full dimages, but he had no choice under the Admiralty rule which was in farco,
Tsung Sing District is coted for its mineral wealth. As the Can'03 Kowloço Railway line passes brough the distric', many take advantage of the carvadient communication provided to Lord Atkinson sald their lordships had not | go there and exploit the natural resources of the to alter the law, but only to find out what it energetic in promoting industrien His Wormust be held to have been in force and to over- district. The local Magistrate Chu is very was and apply it. This rule of the Admiralty ship bas made a pessoal exploration of the ride any rule of common law. place. The me chants who have visited the
place remark that it is rich in mining resources 'Lord Shaw concurred, and the appeal was icd that in the event of the district balag accordingly dismissed, with costs. This decl opened, the return of profit will be a matter of slog is against the cargo owners.. certainty.
In th's case uitico Fisher gavo judgment for the plaintiff with costs and made ceriale obicivations which, have special inference to some of the companies, with whi h wo are Acquainted in Shaogbal. Too whelo queutics torted upon the implication is the prospectos. It was stated in connection with the Bak company that the public.wera med after "any' rabber harassed that they did not waft and we'gh the prospect is before subicablog to the shates of the company, and that was held fouth 23 056 of the main rossons why the negligence or other offence of the pir moters and others connected with the company should be con- dozed. In the case referred to Justice Fisher rightly polais out that the contract to tako
OFFICIAL LAXITY PUNISHED, abares in the company is mainly based upon the
About a fortnight ago a daring robbery was fact that the statements contalued in then put that some passages of my speech at the Siak
You tave quite rightly polated out to me successfully carried out in a house occupied by aig pot mirepresentations end are materially Netting held on the end December might be The robbery has come to the notice of the a family, situated in the centre of the city, correct. It is tene that in the cate of many construed as containing a direct charge Viceroy, who holds that the local officials must School, 9 pm. companies the pab'le were not invited to agalust the directors whose names appear on have been very neglectful of their duties to aubicrite, but the pablie had already tab the prospectus of having deliber.tely deceived bual down the bad characters. His Excellency sited on the strength of the fraatworthiness barsholders by garbing the prospectus, I bid has severaly reprimanded them and has for. of the persons under whose sippatores bad at any time sey intention to deceivo for some time by way
no intention of suggesting thif those directers
bidden them the privilege of wearing button they knew the prospectus would be shareholders and I am sure they had not. Excellency basales ordered the police inspector of panishment. His Isao, or was being Issued. Though the desire theref. so to withdraw anything that public know of a specific statements may have said suggering that imputation and while the policeman os beat at the time has in that locally to be imprisoned for one year, who they rusted lo for shares, the mere fact to apologise for having made the same.
You are at liberty to make such use of this Nambai. Magistrale has offased a foward of beensentenced to two years! Imprisonment. The that the prompreis and diectorá accepted the fattar as you think fit.-Yours sincerely, subscriptions, and allotted the thures before.
Stoo for the arrest of those who sro conpected (Signed) It, B. Qrts, with thļu suteren,
My dear Marshall,
1 .
Events Coming.
Saturday, 14th January,
United Services Club Dance at Kowloos
Smoking Concert at the Water Police Statins, Kowloon, 8 30 p.m.
Sunday, 15th January. Volunteers' Field Day.
Tuesday, 17th January,
St. Andrew's Oborch Annual Meeting.
Honday, 23rd January Russa's College prise distribution,
By Special Appointment to the Imperial Japanese Household Department.
KIRIN BEER
THE BEST BEER DREWED OR SOLD IN THE EAST
Omer Batwe... E. EICHELBERO ASSISTANT BREWER. WENDT
(P. SANDSTEDE
Recommend by the whole Molical Faculty
A light, puro volunt Bovemgo emineully
Buliat
Lor this Cibnate. Ouly the best German Malt and Hope uso.
Won the bigliest awards at all
the Exhi
Litiona
KIRIN
and
BEER
FOR
BALE
at mil
Wo But and, Restaurants
in Hongkong. Fresh Bupplios by every Anil.
AOINTS IN HONGXoxa.
PRICE & Co.
No. 12, Qupon's Rood.
Bolo Agents for KIRIN DEER
GOMEI KA'SHA MEIDI-YA.
YOKOHAMA, JAPAN.
[785
SPECIAL DISCOUNT FOR QUANTITIES,
Korekong Le Isaach
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