CO129-159 - Sir Kennedy - 1872 [9-12] — Page 209

$14

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 dieulty in following criminals from British Barmah, is there not, to Sium; do not cases occasionally occur of the escape of criminals into siam ?--I have not heard of any particular case of that

Euri.

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 Baruah 4-Well, it would be a very great comfort if the work of looking after these man could be taken away from the consul altogether, because it is a terrible responsibility having to give an opinion about eases which happen bundreds 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 boing seat beyond 60 miles about a

But the labour involved in these cases to the consulate is very consi- derable ?- Very considerable, and the anxiety still greater.

case.

Do you know whether it was the custom of other Powers for their consuls to act as agents there?-1 some cases the consuls were merchant consuls, trading consules, and in that case they might of course be agents for anything; the Lloyd's agent in Sian was a merchant.

Viscount ENFIELD: la 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 Euglatul can live very well for £150, ont in Slam it is impossible for a student interpreter to live decently on the pay that is given to him.

JAYA.

MR. HARPER in his evidence before the Committee said that H.M. Cousuis often acted as agent for Lcorn'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 Sncan. TARY (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 28 read.

laid down.

[Nov, 18, 1872. .

declaration of a dividend of 44, per share making 8 per cent. for the year. Colonel GLOVER briefly seconded the motion.

Mr. Found, a shareholder, said he regretter that the Board had any ider of laying a cable between Hong Kong and Shanghai in conjunction with the Great Northern Company. Such a stap would be much in the interests of that company, but against theiro va. He inust very earnestly urge on the directors the policy of analgumating with the other com pantes; a low tariff was only to be obtained by amalgamation. Tho working expenses of this company-£16,000 on earnings of £85,000—— were enormous, and the salarios 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 Northeru in good faith, according to the bargain made. The policy of amalgamation was quite approved by the Board; but those things required thno, 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., ut 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 The directors had no objection maintaining cable would be reduced.

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 audiitors. 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 Messra, 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 teades, 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 bad their share in direct- lag 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 ao perfect that it is not easy to see how hand labour will hold its own. Any The first machine inspected was a portable saw frame. 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 as- tonished to see this comparatively small machine, attended only by one man, cut up the body of a large cak into fourteen planks at once, it having twelve saws, which cut through the whole bulk of web wood in something less than half an hour. A mortising machine, the in- vention of Mr. Richards, of Philadelphia, was set to work, and accu- taken a workman hours. A moulding machine, for caning mouldings, did in a minute thirty-five fect of work, which would have taken a skilled workinan many hours, and this work conid 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 ent- ting mortises, shaping blocks, planking, carving out banisters, and turuing 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 work. By another ma- cbine, an American invention, but improved by the Mosara. 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 per- fectly 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 he 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.

The CHAIRMAN stated that since the opening of thele line it had worked in every way satisfactorily; there had been one or two inter-rately and cleanly eut in a few momente mortises which would have ruptions, but of a slight character. In regard to nne which occurred at Saigon in shallow water, they had the satisfaction to bad, in re- pairing the cable, that it was as perfect as on the day it had been 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. In ad- dressing shareholders of Submarine Telegraph Companies, le Ind, on former occasions, expressed rather sauguine opinions as to the amount of progress that existed in such undertakings. He had never subse- quently changed that opinion, and he considered the results attained by telegraphy generally not only fully bore out such a view, but gave pro- rise of much prosperity in the future. It would doubtless be in the recollection of any gentlemen present that, at the time of the forma tion of that company, it had becu proposed to lay a cable to Shanghai and Japan; but, owing to the state of the money market, it had been subsequently determined to carry out, in the first place, the first section of their lino-namely, to Hong Kong and afterwards to go on to Shang-be pat together "true," work which is done with an infinite deal of hai. The Great Northern Telegraph Company had, however, laid a cable between these two points.

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 there; that all above that sam was to be equally divided; and, although the traffic had been in. terrupted, the amount received last year from that source was £4,752, He thought that at some future time it would be necessary to call ou the shareholders to find the money to lay another cable in eon. junction 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 at the acentamodation they required, and at the same tune to secure themselves a fair return. This company had put op its tariff to £6, whilst the Great Northera Company were working at £4 10%, but he toned that they were getting as full a share of the traffic, as those who went to the expense of telegraphing son their messages by bath routes. They were, however, now negotiating with the Great Northern Company, and he trusted that that compa y would soon put up their tariff to the same as that of this company. He was most anxious to have cheap tariffs, but they could only have cheap tarifs when the cable was fully employed, and they could not work at u lower rate and give their shareholders a profit; and he considered that the shareholders should be looked to first and the public afterwards. He thought the line possessed all the elements of prosperity, and trusted it would be as satisfactory as the promises of the future looked to the directors, He then moved the adoption of the raport and the

NAVAL AND MILITARY,

The screw steamer Scotland, Captain James, sailed from Queens- town on the 12 h inst. for Singapore and Hong Kong, via the Suez Caual. 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

Nov. 18, 1872.]

THE LONDON AND CHINA TELEGRAPH.

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 Suth Regiment, and will afterwards return to Ceylon. The medical officer in charge of the troops is staff sur- geon O'Halloran, who will, after their arrival at their respective stations, proceed to Penang. We have already reported the change which is to be made in the regiments serving at the Straits and at Hong Kong by removing the 10th from Hong Kong to Singapore and the 80th from Singapore to Hong Kong.

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 Wil- liam Henry Bond, was moved into Plymouth Sound on the 9th inst., has made the customary trial of her engines, and has em- barked her supply of ammunition preparatory to sailing. The following are the names of the officers who have been appointed to the Mosquito :-

Commander Lieut. W. H. Bond; Navigating Sub-Lieutenant Wil. liam H. P. Buckner; Surgeon, Assistant-Surgeon John A. Robertson, M.B., Engineers, John Rice, Henry G. Bourke, Assistant Engineer, William H. C. Gale.

Lieutenant-Colonel Joseph H. F. H. Hudson, Grenadier Guards, is to be confirmed in his appointment of military secretary to General Heary Renny, in command of the forces in Ceylon, which wo recorded some weeks since.

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. It will serve as a lesson to the Japanese Government to put their funds with bankers of known standing and responsibility

--

446, Strand, London, 9th November, 1872. SIR. With the greatest regret, and by order of the Beard of Directors, I have to inform you that in consequence of the sudden and unexpected ruspension 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 extraor dinary general meeting of the shareholders will be held here at two o'clock in the afternoon, on Tuesday week, the 19th inst, when a raso- lation 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 mirisable to wind up the same.

I am, Sir, your ob dient ser vant,

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 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 inerchant at Singapore, by which the banks will also lose. These failures have caused a fall in the #hares. The Oriental quotation is £41, the Chartered Meronutile £23, Chartered of India £14.

Messrs. Joshua Brothers and Co., of Great Winchester-street, desire it to be stated that their firma, 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 Bro- thers, 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 giyen here to the Silk market by a combination.

Bar Silver has again declined, and the nearest quotation we can give is 594d. 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 supply of Mexican dollars cannot be placed, and the market is decidedly weaker. We can only, therefore, quote the last rates as nominal.

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. A belief is entertained that

207

815

Holland intends also to adopt a gold currency. The decision has erented great fatness in the market for silver, and it has fallen to a quotation not previously touched for years.

Sharox.

25

BANK AND MISCELLANEOUS SHARES.

FLL

Paid.

Chartered Bank Ind., Aust., and Chlua All

TELEGRAPH COMPANIES.

Closing Prices.

All

6 to

59 to 54

13 to 15

All

23 to 25

10

1 to 15

58 to 00

All

5333988889839 388888889 €×¤×sfa-goose

1.615 40 to 48

JOINT STOCK BANKS,

£10

¡Agra Bauk,

25

Bank of Egypt

20

"45

Chartered Mere, of Tudia and China

20

City Bank

+14

1.

100

Colonial Book

500fr.

Comptoir D'Escompte of Paris...

2291 100

Hong Kong and Shanghai Bank

[Imperial Bank 194

20

28 to 291

50

London and County

20

69 to 58

50

Lomton Joint Stock

15

48 to 47

100

London and Westminster

20

67 to 02

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

Fastern Telegraph Company

10 to 10

10

rest Northern

All

10 to 114

25

Indo-European

All

14 to 30

30

Mediterranean Extension

All

£ to 7

12

Telegraph Construction Company

824 to 23

60

Indiarubr.,Gutta Percha &Tel. WorksCo.

45

391 to 801

MISCELLANROTS

20

British India Tea Company

All

4 to 5

Brit, and Foreign Marine Insurance Co.,

1

6 to

6 กก.

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 pin.

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. Stenin 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 saya-- 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 advanco in the Bauk 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 cammon Cungou;" as regards this market, there is no encouragewent to ship such here; demand har been "off" this class for some time, and late imports of what may ba perib, and a cessation of shipments will be imperative to relieve as fairly classed as "good commou" are not been saleable over 94d. of the heavy stock. The export (rade to all quartera 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

Black-Red leaf: No change as to prices for aiftings and leafy; good flavoury kinds at 1s. to 1s 1. have been acarce, but a better selection is offering from ships now diecharging; Sayune and Kaisow kinds at 1s. d. to Is. 5d. offer good value; medium to fine at 18. 6d. to 28. are hard of sale; fineat sells in small lots at 2. 1d. to 24. 6d. per b. Pakling kinds: No demand. Tayshau leaf: Fall supplies are in course of landing; a few sales at 10d. to ls, for good common and fair. Black loaf: In low and ordinary common there have been occasional small sales at 6d. to 750.; fair to good common we quote at Bd. to 10d. per lb., and difficult of sale; preferable kinds 18. 7d, we make rather lower; fine and finest la. Bd. to 23. 2d., limited ut 18. to 1s. 2d. ure scarce; medium to good medium at la. 3d. to

sales. Souchong : Few transactions at no alteration in value. Scented Tea, Canton kinda--Caper: There has becu fair trade doing, as late good common to fair 10d. to 18., good to medium is. Id. to la. 4d, fine imports are of desirable quality, many parcels being strong scented; 1. d. to 1s. 8d., finest is. 9. to 2a. per lb. Scented Orange Pekoe: Limited supplies, but sufficient for present wants, Foochow growth being in full supply, and selling at a looderate scale of prices. Green Large sales by auction without reserve; the importe, ex Glenroy aud Ajax, over 800,000 lbs., offering a varied selection, chiedy of Plug Suey leaf, which has sold at an average 1. per lb. decline, No. 1 Gan- powder 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 aud Japan kinds: No change.

SILK.

Messrs. Kilburn, Kershaw, and Co. report as follows:-- has been checked by the movements of the money market, and buyere The slight improvement in demand which had shown itself recently generally seen disposed to wait; there is no change in quotatious,