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China Telegraph Company, which announced its intention of duplicating the cable between Rangoon and Penang. The Committee in reply expressed its gratification at the proposed extension of telegraphic facilities.
Rights of Endorsees of a Bill of Lading.
Some correspondence on this subject between the Yokohama Chamber of Commerce and the Committee of this Chamber, will be found in the Appendix. (Appendix C.).
Establishment of a Chinese Government Mint.
The Shanghai Chamber of Commerce having requested an expression of opinion on this subject, the description of coin most suitable for a standard of value, the subsidiary coins most requisite, and whether the proposed coinage should be for the whole country, or restricted to the places open to foreign trade,-a general meeting was convened on November 2nd, to discuss these questions. After debate, a Resolution was carried, with only two dissentients, that the Chamber declined to make any recommendation in the matter of a mint to be established under the authority of the Chinese Government; and copies thereof, and of the short-hand minutes of the meeting, were transmitted to the Shanghai Chamber. (Appendix D.).
Chinese Merchants, and the Native Duties levied on Goods coming from and going to the West Coast.
The native merchants of Hongkong having forwarded to the Registrar General the text of a petition presented by the native traders of Macao to the Government of that City, proposing the establishment thereat of a Chinese Custom House, and having suggested that a somewhat similar arrangement be introduced into Hongkong, His Excellency the Governor, after fully discussing the enclosures in His Excellency's despatch, requested the Chamber to state its opinion on the matter. The Committee arrived at the unanimous conclusion, that, under present circumstances, it would be very unadvisable to take any steps in such a matter. (Appendix E.).
Opening of the Port of Sulu to Foreign Trade.
An official intimation of the opening of this port, was received from the Colonial Government, on the 29th December. The text of the decree issued thereon by the Governor-General of the Philippines, will be found in Appendix F.
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Postal Rates.
The reduction recently made by the Postal authorities, in the rates hitherto charged for letters and papers between Hongkong, the China Ports, and Europe, and the more important reductions which will come into effect as soon as Hongkong has entered the Postal Union have, in the opinion of the Committee, rendered it unnecessary to further pursue the correspondence commenced with the Shanghai Chamber of Commerce, previous to the last Annual Meeting.
Reuter's Telegrams.
Messrs. REUTER & Co.'s Agent having made propositions for supplying an amended service of Political and Commercial Telegrams, a Sub-Committee was appointed to make satisfactory arrangements with that gentleman. The result of their negotiations is, that the Chamber has taken the local monopoly of the Political Telegrams, and that this branch of the service bids fair to be efficiently started in a few days. The Sub-Committee also drew up an amended form of Commercial Telegrams, which, after being approved by the General Committee, was accepted by REUTER's Agent, and will be acted upon as soon as it reaches London. The Committee entertain hopes that cause will no longer arise for complaint as to the accuracy or extent of the information transmitted.
Members.
During the past year, the following Members have retired from the Chamber:-Messrs. HEARD & Co., Messrs. MARGESSON & Co., and A. E. VAUCHER, Esq. Mr. T. G. LINSTEAD has been duly elected a Member.
Committee.
Mr. P. KARBERG having left for Europe, Mr. L. MENDEL was elected to fill his vacancy. According to the Rules, a fresh election of Members of Committee has to take place at this meeting.
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