March 25th, 1922.]
CHINA OVERLAND TRADE REPORT
HONGKONG FIRE INSURANCE CO. FAR
The report of the General Managers and Consulting Committee to the Sharehold- ers the reads as follows:-
Working Account, 1920.-This account shows a surplus of $534,307.02.
Reinsurance Fund-It is proposed to appropriate £38,014.13.2, at exchange 2/7=$294,307.02, out of the profits of the year 1920 to the credit of this Fund. The Fund will then stand at £170,861.0.11.
Dividend. The General Managers and Consulting Committee have pleasure in recommending a dividend of $30 per share absorbing $240,000.
EASTERN
NEWS.
CABLE
fraRongg Renter's AGENCY.]
HONGKONG'S ELECTORAL REFORM PETITION PRESENTED TO COMMONS.
INDON, March 22nd. In the House of Commons, Colon 1 John Ward presented a petition by the British inhabitants of Hongkong for the substitu- tion of popular election for Goverum ent nomination of non-Chinese members of the Council and for the adoption of a larger electoral body thereanent.
THE "MUI TSAI" SYSTEM.
Working Account, 1921.-The balance at credit of this Account is $101,039.11.
Consulting Committee. The General Managers regret to have to record the death of Mr. Francis Maitland who has been actively interested in this Company TO BE ABOLISHED IN HONGKONG. since 1897 in the capacity of a member of the Consulting Committee.
The Hon. Sir Paul Chater, C.M.G., Sir Robert Ho Tung, Messrs. A. M. Bowes- Smith, E. J. Chapman, T. E. Pearce, H. P. White retire but, being eligible, offer themselves for re-election.
GULA-KALUMPONG RUBBER ESTATES, LTD.
Messrs. Lowe, Bingham & Matthews advise us that the annual general meet- ing of the Gula-Kalumpong Rubber Estates, Ltd., will be held in London on April 4th, the Share Register being closed from March 24th to April 4th, both days inclusive. The balance at credit of profit and loss account is £53,673.15s., from which the following dividends payable on and after April 11th to all shareholders registered on April 4th and bearer share coupons, subject to confirmation at the annual meeting, have been allocated: Fully paid-up-shares, 1/6d.; partly-paid shares, 43d. less income-tax at the rate of 6s. in the pound. It is proposed to place at reserve fund £7,176.3s.4d. and carry forward £49,406.2s.5d. Forward sales of rubber for 1922 are 145 tons at 2/8d. The board of directors do not intend making a
call on partly-paid shares during 1922.
NANYANG TOBACCO CO.
-
The net profits of the Nanyang Brothers Tobacco Co. last year were $4,041,778.83, of which, according to the articles of incor poration, 5 per cent., namely $206,088.94, must be placed to the reserve fund. The fixed rate of interest on the shareholders' capital is 8
per cent. This equals $1,200,000.
In addition to this reserve fund and interest 30 per cent. will bo placed to the special reserve fund, ie, $791,906.97. The directors have decided to allow on each share a dividend of eight per cent, the total being $1,200,000. This together with the interest referred to above gives the shareholders 16 per cent. on their money.
THOMAS HARDY'S SECRET.
CHANGE TO BE CARRIED OUT WITHIN A YEAR.
LONDON, March 22nd.
29
BRITONS IN CHINA.
A STATEMENT IN PARLIAMENT.
318
LONDON, March 91st.
In the House of Commons, replying to Mr. Lestrange Malone, Mr. Harmsworth said the number of British officials paid by the British Government on Foreign Office vote (Diplomatic, Consular and Commercial Diplomatic Services) and em ployed in China was 106. No British officials on the Foreign Office active ser vice list were employed in the service of the Chinese Government or paid by the . Government. A number of British sub- jects were employed and paid by the Chinese Government in the Customs, Salt, and other Department's but the details were not available.
BANQUE INDUSTRIELLE.
MINISTERIAL DECRE AGAINST M. PHILIPPE
BERTHELOT.
PARIS, March 16th. A Ministerial decree places M. Philippe Berthelot on the retired list for ten years. ASSOCIATED CHAMBERS OF COMMERCE OF KWANGTUNG
AN INAUGURAL MEETING.
In the House of Commons, replying to a question, Mr. Churchill, Secretary of State for the Colonies, announced that the Governor of Hongkong had reported that his Government, in consultation with the Society (Societies ?) for the protection and abolition of mui-tsai, would draw up a scheme for the abolition of the system.---- (Cheers.) This would take time. Mean- while, Mr. Churchill said he had directed the issue of a Proclamation stating that March 20th an Association of the Chambers There was inaugurated at Canton on the status of mui-tsai, as existing in of Commerce of Kwangtung. The core- China, would not be recognised in Hong mony was attended by over 500 promin- kong in future. Particularly, no compulent men including officials, merchant and sion for girls over twelve to leave their labour leaders. Among those present were homes would be allowed. pointed out that this would involve the to President Sun; Hsu Shao-ching, Chief The Governor Major Sun Fo; Che Chih, Chief Secretary risk of girls being exposed to the wiles of Staff to President Sun; Dr. Jamieson, of unscrupulous employers. Mr. Chur British Consul-General; Mr. A. H. Har- chill consequently directed that mus-tsai ris, Commissioner of Customs, Messrs. Tso be warned that until protection could be Ying-pak, Fung Chih-yau, Tang Tseh-yu, afforded them, they should not leave their Che Leung-mu and others. homes except in case of ill-treatment.
Woon, President of the Association. occupied the chair. A message of con- gratulation was read from Governor Chen Chiung-ming and numerous gratulatory speeches were delivered. It is mentioned in the report that all the labour guilds of Hongkong and Macao sent messages of congratulation. delivered a speech which was interpreted Dr. JAMILSON, H.M.' Consul-General, into Chinese. He dwelt upon the mutual interests of Hongkong and Canton and expressed a hope that the Assosiation would undertake to get rid of certain old practices which were obstacles to the pros- perity of business in the province.
The mui-
Mr. Churchill added that though obviously an old-established custom must not be altered at a moment's notice, the Governor and he were determined to ter minate the system at the earliest moment possible, and he had intimated to the Governor that he expected the change to be carried out within a year. (Cheers.)
[In connection with this subject the following paragraph from yesterday's Canton Times is of interest:- tsai system was recently abolished by a Presidential proclamation, but the future occupation of the newly-freed girls has now become one of the vital questions engaging considerable attention from the women of organize. as many industrial institutions as possible in which to place these fortunates" and give them the necessary vocational education to enable them to earn an independent living after they have secured their freedom. Many public spirited citizens who advocated the aboli. tion of slave girls are in favour of the proposition, and now advocate the im- meliate establishment of such institutions The necessary funds may be donated by the Government and raised from the public. Concerning the campaign of rais. ing funds, regulations have been drawn
who Canton,
propose to
(C
un-
up to be submitted to the Government for approval.”
"HONGKONG'S CHILD SLAVES.”
LONDON, March 22nd.
It was seven years since Mr. Henry Arthur Jones had produced a play in London, said Sir Arthur Conan Doyle, in proposing the hea'th of the distinguished dramatist at a dinner in his honour at the Authors' Club. There was something ami s in that, continued Sir Arthur, be- cause he had actually during that time The Daily News is gratified at the news produced then elsewhere. I hope we
that "the Child Slaves in Hongkong " are are not going to have another tragedy to be freed. It congratulates Mr. Churchill like that of Mr. Thomas Hardy," he
on the characteristic thoroughness of his added. "For reasons which have never
announcement and the prudent measures been clear to me, but which I believe are
taken to ensure the drawing up of a partially due to criticism he resented, he ceased to write the finest series of novels practical scheme for the future welfare of
the liberated children. brought out in our generation.”
Mr. Lau
con-
Mr. HARRIS, Commissioner of Customs, addressed the gathering in Mandarin.
Mr. CHE CHIH, President Sun's Chist Secretary pointed out that some of the existing Chamber of Commerce of China- were not established for all the merchant but for the more wealthy ones—not for the purpose of promoting commerce and industry, but for the social purposes of a few.
democratic
Mr. Che recommended to the officers of the Association that this organi- zation must be made that every merchant throughout the pro- vince could have the same privilege of membership.
General Hsu SHAO CHING said that the Association was proposed by President Sun Yat-sen at a banquet given to the prominent merchants of the city and the President is expecting that the one in Kwangtung will set a good example so that a similar merchants' institute will be organized in other provinces when the country is unified.
Mayor SUN Fo said there should be no division of the classes in regard to labour and capital in China. The Association of Chambers of Commerce will not only co-operate the development of industries but encourage good feelings between busi- nowmen and workers.