THE LONDON AND CHINA TELEGRAPH.
Is not a great deal of the work in Siam caused by the doctrine of extra-territorial jurisdiction applying to the inhabitants of British Burmah? Yes, and to British India; I would not separate British Burmah exclusively.
There is a difficulty in following criminals from British Burmah, is there not, to Siam; do not cases occasionally occur of the escape of criminals into Siam?--I have not heard of any particular case of that kind.
Do you think that work of that kind could be decreased; it has been stated here that there has been a somewhat extravagant interpretation of this doctrine in the case of the inhabitants of British Burmah?--Well, it would be a very great comfort if the work of looking after these men could be taken away from the consul altogether, because it is a terrible responsibility having to give an opinion about cases which happen hundreds of miles away from you, and of which you cannot get any very satisfactory evidence. I do not see how we are to avoid doing it with our Treaty.
The officers of the consulate are occasionally sent great distances up country, are they not, in these cases?--No, they were not in my time; I have never known of an officer being sent beyond 60 miles about a case.
But the labour involved in these cases to the consulate is very considerable?--Very considerable, and the anxiety still greater.
Do you know whether it was the custom of other Powers for their consuls to act as agents there?--In some cases the consuls were merchant consuls, trading consuls, and in that case they might of course be agents for anything; the Lloyd's agent in Siam was a merchant.
Viscount ENFIELD: Is the cost of living in Siam very great?--It is great as compared with England, because there are certain luxuries which a man must have in a climate of that sort; I mean to say that whereas a young man in England can live very well for £150, out in Siam it is impossible for a student interpreter to live decently on the pay that is given to him.
MR. HARPER in his evidence before the Committee said that H.M. Consuls often acted as agent for Lloyd's, and that the commissions paid on wrecks were at times valuable, he might instance the case £3,000 paid on one ship at Batavia.
CHINA SUBMARINE TELEGRAPH COMPANY (LIMITED).
The second ordinary general meeting of the shareholders was held on the 13th inst.; Mr. JOHN PENDER, M.P., in the chair. The Secretary (Mr. T. Fuller) read the notice convening the meeting, and the minutes of the last meeting, which were then confirmed; the report of the directors, given in our last issue, was taken as read.
[Nov. 18, 1872.]
The CHAIRMAN stated that since the opening of the line it had worked in every way satisfactorily; there had been one or two interruptions, but of a slight character. In regard to one which occurred at Saigon in shallow water, they had the satisfaction, in repairing the cable, that it was as perfect as on the day it had been laid down.
It was also a matter for congratulation to perceive that, even taking into account the low rate of charges that had rated for a considerable period of the company's operations, the result had been about as good as that attained by any submarine line during the first year of its working. It was proposed to pay the shareholders a dividend of 8 per cent. for the whole year.
The directors entered into arrangements with the Great Northern, by which that company was to receive interest at 5 per cent. on the capital, and the cable to be repaired by them; that all above that sum was to be equally divided; and, although the traffic had been interrupted, the amount received last year from that source was £4,752.
He thought that at some future time it would be necessary to call upon the shareholders to find the money to lay another cable in conjunction with the Great Northern, as the present cable seemed to be not quite so good as that company had expected it to be. He also believed that an alternate line was necessary to give the public the accommodation they required, and at the same time to secure themselves a fair return.
This company had put up its tariff to £6, whilst the Great Northern Company were working at £4 10s., but he thought that they were getting as full a share of the traffic as those who went to the expense of telegraphing their messages by both routes.
Mr. Forde, a shareholder, said he regretted that the Board had any idea of laying a cable between Hong Kong and Shanghai in conjunction with the Great Northern Company. Such a step would be much in the interests of that company, but against theirs. He must very earnestly urge on the directors the policy of amalgamating with the other companies; a low tariff was only to be obtained by amalgamation. The working expenses of this company—£16,000 on earnings of £85,000—were enormous, and the salaries paid were too high.
Mr. HOLMES agreed with Mr. Forde as to the Shanghai line, and he considered the £1,838 for the Agnes repairing ship was excessive, and a contract should be made for the repairs.
The CHAIRMAN, in reply to these remarks, said that the laying of the cable to Shanghai was merely foreshadowed, but if done, it must be in conjunction with the Great Northern in good faith, according to the bargain made. The policy of amalgamation was quite approved by the Board; but those things required time, and could not be carried out so speedily as Mr. Forde seemed to think.
With regard to the expenses, he read a statement of salaries, &c., at each port, and explained that the expenses of living were so high at the stations that the salaries of proper officers must be in proportion. The expense for repairs and maintaining cable would be reduced.
The directors had no objection to half-yearly meetings. The report was then put and carried, as also the re-election of the Baron d'Erlangen as a director, and two auditors. The proceedings terminated with a vote of thanks to the chairman and directors.
THE JAPANESE AT MESSRS. ALLAN, RANSOME AND CO.'S.
Yesterday the Minister for Agriculture, with members of his suite, together with American and English employers of labour, visited the works of Messrs. Allan, Ransome, and Co., in King's-road, Chelsea, to view some newly-invented labour-saving machinery of remarkable construction and power.
The strikes of workmen in the building trades, the increased cost of production in the carpentry and joinery branches of those trades, and the difficulties caused to employers by the restrictions of Trades Unions, have each had their share in directing the attention of engineers to find the means of meeting the pressure caused by the contracted amount of available skilled labour; and the machines exhibited yesterday were in every way so perfect that it is not easy to see how hand labour will hold its own.
The first machine inspected was a portable saw frame. Any one who has seen the old saw-pits, where the "top sawyer" and the "bottom sawyer" laboured from morning to night and day after day in cutting a log into planks, would be greatly astonished to see this comparatively small machine, attended only by one man, cut up the body of a large oak into fourteen planks at once, it having twelve saws, which cut through the whole bulk of wood in something less than half an hour.
A mortising machine, the invention of Mr. Richards, of Philadelphia, was set to work, and accurately and cleanly cut in a few moments mortises which would have taken a workman hours.
A moulding machine, for cutting mouldings, did in a minute thirty-five feet of work, which would have taken a skilled workman many hours, and this work could apparently be done by a boy.
In what was called a "general joining machine" there was apparently no limit to the work to be done, the one machine cutting mortises, shaping blocks, planking, carving out banisters, and turning in a few minutes a plain block of wood into a perfectly carved piece of work.
Another machine, exceedingly small and unpretentious, was shown to be capable of planing any sort of work, oval or flat, and at the same time a revolving chisel cut mortises with celerity and accuracy.
A very fine piece of machinery is one which cuts raised or recessed panels, in other words, which can cut the sunk or raised ornamental work in wood now so highly prized and so dearly paid for, as the best and most skilled.
By another machine, an American invention, but improved by the Messrs. Ransome, a door can be finished—that is, cleanly sand-papered on both sides—in three minutes.
The planing and trying-up of work, or what would be properly called the trueing "up, by which is meant the nice work of making blocks of wood exactly like one another, in order to hand labour, is, by one of Ransome's machines, done at once and perfectly in a few minutes, all the blocks, of whatever size, being placed together and turned out as like as peas, and mathematically correct in every respect.
A band saw machine, by which both fine and rough work was cut in all sorts of shapes, and a saw cutting machine, with F. Ransome's patent stone, were among the other works shown.
With one or two of these machines an employer with a man and a boy as staff, could turn out as much work as twenty or thirty men, and never be troubled about the nine hours, eight hours, or any other movement.
The remarkable fact about these machines is that they are not limited to the pattern, shape, or character of wood, for the knives are changed in a few minutes, and whatever the class of work required, it can be done at once.
The inspection lasted for several hours, and all the visitors expressed themselves delighted with these new machines, some of which are to go to the Vienna Exhibition.
NAVAL AND MILITARY.
The screw steamer Scotland, Captain James, sailed from Queenstown on the 12th inst. for Singapore and Hong Kong, via the Suez Canal.
The following are the details of the officers and men who proceed in the Scotland to strengthen the garrisons in the Straits Settlements and Hong Kong:-To Singapore, Captain Battye, Lieutenant Armstrong, and 79 men of the 10th regiment and 10 men of the Royal Artillery.
To Hong Kong, Captain Stone, with 294 men and 19 women and children of the 80th Regiment; an armourer sergeant, a sergeant, and 10 men of the Royal Artillery: and 3 men of the Royal Engineers.
Major Watson, of the Ceylon Rifle Regiment, Captain Hewson, 73rd Foot, and Lieutenant Chevera, of the 73rd Foot, proceed to Hong Kong on duty with the draft of the 80th Regiment, and will afterwards return to Ceylon.
The medical officer in charge of the troops is Staff Surgeon O'Halloran, who will, after their arrival at their respective stations, proceed to Penang.
The Mosquito, composite gunboat, 400 tons, and 360-horse power, which was commissioned at Devonport on the 30th ult., for service on the China station, by Lieutenant-Commander William Henry Bond, was moved into Plymouth Sound on the 9th inst., has made the customary trial of her engines, and has embarked her supply of ammunition preparatory to sailing.
Lieutenant-Colonel Joseph H. F. H. Hudson, Grenadier Guards, is to be confirmed in his appointment of military secretary to General Henry Renny, in command of the forces in Ceylon.
MONETARY AND COMMERCIAL.
The suspension of Messrs. Bowles Bros. and Co., noticed in our last issue, has caused the stoppage of the "Joint National Agency," a company formed for general financial and agency purposes in connection with the Japanese now in Europe, amongst whom we are sorry to say are the agents of the Japanese Government, who have lodged Government funds in the hands of the Company.
Judging from the following circular, it seems that the company is utterly crushed, and will be dissolved.
446, Strand, London, 9th November, 1872.
SIR.—With the greatest regret, and by order of the Board of Directors, I have to inform you that in consequence of the sudden and unexpected suspension of payment of one of the bankers of this company, the firm of Messrs. Bowles Brothers and Co., this company has also found it necessary to suspend payment.
In order at once to secure the assets of the company its immediate winding up has been determined upon, and with this view an extraordinary general meeting of the shareholders will be held here at two o'clock in the afternoon, on Tuesday week, the 19th inst., when a resolution will be submitted to the effect that it has been proved to the satisfaction of the company that it cannot, by reason of its liabilities, continue its business, and that it is advisable to wind up the same.
I am, Sir, your obedient servant,
WALTER H. FARRA, Secretary.
Following closely on the failure of Joshua, of Singapore, we have telegrams announcing the stoppage of Chang "Tee, Watseng and Co., and Absoon and Co., both Chinese firms of importance in the Straits and Saigon trade, with heavy liabilities to European firms.
The mail also brings advices of the failure and arrest for fraud of A. Velge, a commission merchant at Singapore, by which the banks will also lose.
Messrs. Joshua Brothers and Co., of Great Winchester-street, desire it to be stated that their firms, together with the firms of Joshua Brothers, Melbourne, and Joshua Brothers, Mauritius, are in no way related to or connected with the firm of Joshua Brothers, of Singapore, whose suspension has been announced.
Correspondence from Shanghai by the last two mails has been very gloomy, and failures are expected before the end of the year, notwithstanding the assistance given here to the Silk market by a combination.
Bar Silver has again declined, and the nearest quotation we can give is 59d. per oz., at which rate some small parcels have been sold; the market is weak, and a further slight reduction may be looked for.
The Bank of Holland has decided to buy no more silver at any price. It has hitherto bought silver at 1.104.65 per Dutch pound, and has not varied the price for years.
BANK AND MISCELLANEOUS SHARES.
TELEGRAPH COMPANIES.
£10
Chartered Bank Ind., Aust., and China
All
59 to 54
13 to 15
All
23 to 25
10
1 to 15
58 to 60
All
JOINT STOCK BANKS.
£10
Agra Bank
25
Bank of Egypt
20
45
Chartered Merc. of India and China
20
City Bank
+14
1.
100
Colonial Bank
500fr.
Comptoir D'Escompte of Paris...
2291
100
Hong Kong and Shanghai Bank
[Imperial Bank
20
28 to 29
50
London and County
20
69 to 58
50
London Joint Stock
15
48 to 47
100
London and Westminster
20
67 to 62
Oriental Bank Corporation
All
$1 to 42
50
Union of London...
43 to 44
10
British Indian Extension
All
34 to 144
13
British Australian...
An
A to 99
30
China Submarine.
10 to 10
10
Eastern Telegraph Company
10 to 10
10
Great Northern
All
10 to 114
25
Indo-European
All
14 to 30
30
Mediterranean Extension
All
£ to 7
12
Telegraph Construction Company
£24 to 23
60
Indiarubr.,Gutta Percha &Tel. WorksCo.
45
391 to 301
MISCELLANEOUS
20
British India Tea Company
All
4 to 5
Brit. and Foreign Marine Insurance Co.,
1
6 to
6
20
Ceylon Company
***
**
All
15 to 17
20
Do.
10
Lo
dis.
20
Do.
ར
4 to
3 dis
50
2 to
I dis.
5
All
to
53
10
General Credit and Discount Companyj
73
To
15 pm.
10
Hong Kong Gas Company
414
10
International Finance Society...
5
1 to dis.
98
Japan Loan, 9 per cent...
All
110 to 112
$4
London and Prov. Marine Insurance Co.
2
24 to 21 pa1.
26
National Discount Company...
5
121
122
25
50nfr.
Ocean Marine Insurance Company
Messageries Maritime of France
5
13 to 14 pm.
Ali
50
50
100
21)
P. and O. Steaming Company
170.
1867...
20.
Royal Mail Steam Company
Realia Marine Insorance Company
All
51 10
68
10
dis. to par
60
93 to B5
J
1 to I dis.
4021.
Suez Canal Company
*
20
20
Thames and Mersey Marine Lasur. Co.
Universal Marine Insurance Company!
5 to
FLE
Colonial Company
Credit Foncier of England
ARTICLES OF IMPORT.
TEA.
1,530
1.360
5pm.
4 to jum
Messrs. Shepard, Harrison, and Rehden's Circular says--
During the past few days buying, except at auction without reserve (sales of China or Indian growth taking place daily), has been all but suspended, owing to the disturbance in the money market and the advance in the Bank rate, which is now 7 per cent.; arrivals have also been on an exceedingly large scale; buyers therefore act with extreme caution.
Advices from China, as to ultimate total shipments, state, "all will depend on prices paid for common Congou;" as regards this market, there is no encouragement to ship such here; demand has been "off" this class for some time, and late imports of what may be fairly classed as "good common" are not saleable over 9d.
The export trade to all quarters has been inactive.
The public sales of China have comprised 16,117 packages, of which week amount to 8,211,346 lbs., against 3,161,038 lbs. last year.
14,449 packages have been sold without reserve.
The deliveries for the sales have been...
Black-Red leaf: No change as to prices for siftings and leafy; good flavoury kinds at 1s. to 1s 1d. have been scarce, but a better selection is offering from ships now discharging; Souchong and Kaisow kinds at 1s. 3d. to 1s. 5d. offer good value; medium to fine at 1s. 6d. to 2s. are hard of sale; finest sells in small lots at 2s. 1d. to 2s. 6d. per lb.
Pakling kinds: No demand.
Tayshau leaf: Fall supplies are in course of landing; a few sales at 10d. to 1s, for good common and fair.
Black leaf: In low and ordinary common there have been occasional small sales at 6d. to 7½d.; fair to good common we quote at 8d. to 10d. per lb., and difficult of sale; preferable kinds 1s. 7d, we make rather lower; fine and finest 1s. 8d. to 2s. 2d., limited at 1s. to 1s. 2d. are scarce; medium to good medium at 1s. 3d. to 1s. 6d. are...
Souchong: Few transactions at no alteration in value.
Scented Tea, Canton kinds--Caper: There has been fair trade doing, as late good common to fair 10d. to 1s., good to medium 1s. 1d. to 1s. 4d, fine imports are of desirable quality, many parcels being strong scented; 1s. 5d. to 1s. 8d., finest 1s. 9d. to 2s. per lb.
Scented Orange Pekoe: Limited supplies, but sufficient for present wants, Foochow growth being in full supply, and selling at a moderate scale of prices.
Green Large sales by auction without reserve; the imports, ex Glenroy and Ajax, over 800,000 lbs., offering a varied selection, chiefly of Peling Suey leaf, which has sold at an average 1d. per lb. decline, No. 1 Gunpowder selling down to 2s. 11d., other grades in proportion.
Slogane and Fychow leaf, with the comparatively small supply, has been selling at extreme rates.
Canton and Japan kinds: No change.
SILK.
Messrs. Kilburn, Kershaw, and Co. report as follows:--
The slight improvement in demand which had shown itself recently has been checked by the movements of the money market, and buyers generally seen disposed to wait; there is no change in quotations.