The Hongkong Distilling
could not be made to pay its
way, and,
after repeated and heavy losses on its consignments, it succumbed, and was wound up by the court, within three years of its incorporation, with the loss of its entire capital of Dollars One hundred thousand ($100000) and an additional amount of nearly Dollars Twelve thousand ($12000).
The building and machinery
then came into the hands of their
mortgagees,
Mr Jack and a Mr Sammont, who worked the establishment
for their own account, until the death
of the former in August 1878. Their operations resulted in considerable losses.
After Mr Jack's death, the manufactory remained in disuse,
until we bought it, except for about two months, during which we worked it, in order to test its capabilities.
In 1875, the Sugar Refinery,
which ultimately developed into the China Sugar Refining Company Limited,
commenced the distillation of spirits, under a license, on its own premises, on which a fee of Dollars One hundred ($100) was then and has since been paid annually.