1903-01-17 — Page 3

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shield competition approushes, and as the R. E. and A.C.D. played an obstinate draw on Thurs- day, five games still remain to be decided—” B,“ Company, S.F.; "E" Company, S.F.; "K" | Co., S.F., v. H0th Co., RA.; V.R.C. ». 780 Co., I.A.; “G” Co.S.F., v. II.M.S. Argonaut; | and the replayel tie. At the present moment it is impossibles even to hazard a gausa at the winter. Most of the teams are unknown quantition, and so they remain for some weeks, Today Rugbyists take the field again, the mutch being Club r. a scratch tentn. The Army should have formed the opposition, Int for the second time this season they oried off. One of the warships ja harbour will probably make up. the "scratch" nido.

The game on the polo-grooud to-day should be an interesting one, thongh I have not sen the amos of the players who are to represent Hongkong and 'Kowloon. The 14th Bombay Infantry's laul will be in attendance, and only a little geniality in the weather is required.

The announcement that a team of Fijian cricketers will visit England next summer is interesting. It is now over thirty years siure the Australian Aboriginal Eleven came over. bat anany of their decis are still remembered. notably Mallogh's slogging, exhibition at Bramall Jaun, Sheffield. A few years ago a team of Fijians was taken down to New Zealand. by Mr. J. 9. Udal, who was then Attorney General at Suva, and these did very well. Physically the Fijians are a fins people, and a native who happens to be under six feet in height is regarded as dwarf. Another favourable fact is that many of the young chiefs hare of lato years buon educatel is the big schools in Australia and New Zealand, sud have in all cares taken keenly to the British national game.

کی ہیں

The Vicary's Cup at Calcutta on the 24th alt. of which full details hos reached Hongkong by the muils was a grust upset for the backers. Fonto the winner started at 4 to 1. bit the wiss few were on before. The owner, Mr. Galstaun, who is an Armenian, is credited with having made a nice little sum orer the race. Fast won by two lengths, the same distance soparat ing Cretonne and Acotine.

OMPAX.

·POLICE COURT.

Friday, 16th January.

BEFORE MK, J. H. Kemp (ACTING POLICK MAGISTRÁTK).

!

THE HONGKONG DAILY PRESS, SATURDAY, JANUARY 17T¤ * 03

THE BURGLART AT THE DOCESAN GIELS' SCHOOL

Wong Hung, Chan Him Yau, and Kan Iu pleaded not guilty on remand to burglary and salt with intent to rob at the Diocesan Girls' School, Bonham Road. on the 2nd inst.

Soon all

Miss Skipton, superintendent of the sobzol, was called and nurtated the circumstances of the affair as far as she knew them. She said that on the morning of the 2nd she was awakened by feellug someone's hands on her throat. She screamed for assistance, and the grasp on her throat tightened, preventing her from calling ent. There was so light in the room, and she could not see who was holding her. Presently she bencil Bling Hawker's voice, sounding unnatural, as though she too was being held. Witness lay still, and the man holding her throat left. the children get up, and some of them ran for help. Witness rose also, and saw Mies Hawker standing eu the verandah, There was a mat on the balustrade outside the verandah, and witorss tried to push him back, but he climbed across. by the logo into the next house. Witness then retnrued to Miss Harkot, and saw tbut the lower part of her facs was covered with bipod: All this had taken place upstairs; downstairs a window leading on to the virandah was open, and one of the panes broken. Witness could not identify either the man who hold her by the throat or the xona the verandah, but the und defendant she recognised as the cook'e assistant at the school The same morning at 9.30 she went with Miss Hawker to the Government Civil Hospital, where the latter was examined by Dr. Atkinson.

1 year ago,

The

Mias Hawker deposed that on the morning of the 2nd, between two and three o'clock, she was awakened by the reflection cast by a light shining through the partition between her room and the vert one. Thinking it was Miss Skipton engaged with one of the children, she entled out, Is anything the matter?' light was at oues turned out, and there was per. feet silence. Then came a scream from Miss Skipton, and witness jumped up and went through the window of the vermudab to the next window, leading into Miss Skipton's room.

нед

It WILM BO absolutely dark and

THE CURRENCY QUESTION.

Continued)

TO BUM UP.

(3) An ordinance should be passed, at ove sitting, making all dobta in dollars recoverable in the new currency at the conversion rate.TM

(4) The new currency, including the new Government notes, should be legal tender from The date of the proclamation, and the British and the Mexican dollars would remain legal

EASTMAN'S

3

trade, anything which condness to render the tender at the conversion rate up in the date of FILMS. KODAKS AND ACCESSORIES.

As the risience of the Colony depends on its

most important branches of that trade sound and healthy, and, « priori, profitable, is good for the Colony.

10 up

(1) A fired and stable currency is good for trade, and therefore for the Colony

and the F.M.S.

(2) Capital will busftr.cled to the Colony and the F.M.8, provided the currency is placed on a slable basis. (The damage to the export trade, if the emrency is fixed, will be, or no little se to be negligeable in comparison with the hen, fits which will result. (4) The establishment charges of the Govern- and to a less extent of the Municipalities, are now pic in gold it is irrational to collect revinud in silver to meet expenditure in gold. An unknown liability is incurred, (5) A fixed currency will put the import

trade on a sound basis,

(3) A fixed corroney will enable the Govora- ment, the Municipalities, and the great trading companies to borrow at con. siderably lower rates of interest than at present, and will therefore accelerate their development, and that of their trado.

i

HOW TO SECURE FIXITY.. We now turn to the second part of the ques- tion :---“ Is it possible to establish a gold standard, or fixity of exchange, at a cost which is not prohibitive, and if so, what form should the ourroney take?'

There us soyeral methods by which fixity, or approximate fixity, of exchange could be

secured :~~~~

(1) Stop the froo ooinage of British dollars, and demonetize the Mexican dollar, establish a gold reserve, and, in the some way as India has done with the rupee, force the value of the dollar up to 2 or any other value which might Appear convenient. (Throw overboard all dollars and adopt

the Indian rupee. (3) Throw overboard all dollars, and adopt the British Sovereign, as unit with a decimal subsidary (token) coinage. No (1) is practically out of court, as it would anat either the co-operation of Hongkong, which is almost certainly unobtainable, or the minting of a new Straits dollar, of the same weight and fineness as the British deflor. The alternativo would be dangerous, because, if the silver value of the new dollar even went higher than its nominal value, every dollar would be awept out of the country.

No. (2) has not been found to answer in Ceylon osing to the restriction of the Indian currency, and for the same reason would be encretey is continually on the increase.

demosintisation. This for uble convenience, and to avoid, as far as possible, short supply of coin during the conversion period.

(5) The present note issue, and the subsidiary

coinage excepting the copper, which would fit DEVELOPING AND PRINTING UNDERTAKEN, into the new currency, would have to be called is at the conversion rate, but no time limit peed be imposed i their casu.

-(6) A high limit, or no limit at all, should be fixed for the maximum legal tender in „florins Government uotes. This would tend to minimies the drain on the gold reserve, and farther, the more flories or other tokens go into circulation the greater the profit to Government.

On the conclusion of this operation the Government would have a large stock of silver in hand, possibly 530,0 0, (3) or 640,000, 100. or more, on which it would probably make a loss. In order to min'wise this loss as much as possible the silver might be sold forward us collected, reserving enough for at least the first year's issue of the token coiunge.

A GOLD LOAN NECESSARY.

In order to finance the operation and provido the gold roserve it will be necessary to raise a gold loan, which should be done inmediately After the issue of the proclamation. This loan should be apportioned between the Straits Bud F.M.S. Governments, in what proportions it is unnecessary to discuss at the moment. This loan should be temporary, for, say, one year.

GOOD WORK. PROMPT RETURN.

WE HAVE AN ESTABLISHMENT SOLELY DEVOTED TO EXECUTING

WORK FOR AMATEURS, AND WE HAVE LARGER AND BETTER FACILITIES

FOR DEVELOPING AND PRINTING THAN ANY HOUSE IN THE COLONY.

ACHEE & CO.,

PHOTOGRAPHIC GOODS STORE,

17a, QUEEN'S ROAD CENTRAL.

FEW DOORS EAST OF HONGKONG HOTEL.

Hongkong, 15th November, 1902,

VICTORIA

LITHOGRAPHIC

[39

PRESS.

If the suggested "floria were made the some weight as the British Borin the profit on the token coinage would be about 150

per cent. If a larger soil were decided ou, as suggested by the Sub-Committee of the Chamber of Com- merce in 1897, the profit would be about 10 per cent. In other case the profit on the first year's issue, to replace the called-in dollara, Would be a very handsome sam plus the proceeds of the male of the surplus stock of river, would be available for the following | EACH DEPARTMENT UNDER TRAINED EUROPAN SUPERVISION. LATEST

MACHINERY FOR PRODUCING FIRST-CLASS WORK. purpose:---

This w

(1) To wipe out the loss on conversion (i.c.. the difference between the conversion rate aud the proceeds of sale if the dollars)..

(2) To pay one year's interest on the temporary loan.

To repay part, or if possible, the whole of the loan.

If the sum available was insufficient to pay off the whole loan the balance would have to be converted into a permanent loan the interest and charges on, which would probably be about met by the profit on subsequent issuos of token currency.

3, DUDDELL STREET,

LITHOGRAPHIC AND MUSIC PRINTERS, PAPER AGENTS, &c.

AGENTS FOR

MESSRS, PARSONS BROS., PAPER MERCHANTS, London, New York, and Sydney.

Lundlag lines kept in stook.

AN UNPLEASANT CHRISTMAS.

SIAM'S RICE CROP.

[186

A very general opinion is being expressed that this is to be a bad rice season in Siam, says the Bangkok Time, and the trade of the country all depends on the rice crop. The waret estimate we have heard in that the yield will be only from 10 to 15 per cent, of a good average crop, while the more general estimato among rice-millere seera to be 30 to 60 per cont. In the first plass, however, it has to be remembered that no one is in a position to give a reasonably accurate estimate of the orop as a whole; and in the second place such prophecies have been made on very many occasions within,

so quiet there that witness could neither nor here anything, and thought Miss Skipton had screamed in her sleep. She re- turned to her toom, and heard, Miss Skipton give a second scream. Miss Hawkering. mediately went back, and just outside Miss Skipton's window met a man. She pat out her hand and touched him, saying." What are you JOINT STOCK SHARES. doing?" Immediately she found herself seized and thrown on her back on the verandah. Her Messis. Verson & Smyth say in their weekly assailant put his hands on her throat and share report, dated Hongkong, 16th Jaunary month to prevent her from screaming, and was Enquiry has fallen of somewhat during the throttling her. She heard two men speaking very undesirable hore, where the demand for intrinsic valus than the raine thay represent, holiday. They hars plenty of money of their say, the last eighteen years, end invariably

Miss Hawker in what presumably was Chinese, a language witness did not understand. supposed-she-must early have lost conscions. ness, for when she found that she could breathe again she realised that the men had gone, although she could not remember their going. Her mouth and nose were bleeding and her threat was in great pain. Some of the children were on the verandah and some were down in the street calling for the polige Mr. Gule came in from next door, and shortly afterwards the police brought in ous Chiassa whom they had caught. From his possession witness saw taken s auch of tape which corresponded with two pieces she pointed out later to a constable en the rerandah,

werk under review, and the transactions booked have not been very unmerous. Rates generally howevne confione fairly stendy, with an in- proring toudercy in some directions.

BANKS-Hongkong and Shanghais have been booked at the advancel rate of 8675, and continus in request. London is unchanged at £64. Nationals are wanted at $24.

MARINE INSURANCES-Unions have sold ut 2470, and a few more shares ore probably obtainable it the rato. China Traders contiene on nifer at $58, and Cantons at $167, North Chinas are wanted at Ts. 177),

FIRE

INSURANCES Hongkongs have changed ownership at the reduced rate of $325. Chinus lave sold at $5 and $854 and are in further request at the higher rate.

SHIPPING Hongkong, Canton and Macaos are sligt ly easier with sales and sellers at $372. Indo-Chinas Lave improved to 887 hayers. China Manilas sold at $26 and $25 and are on offer at the lower quotation. Dongleses after

Miss Anan Moore, a pupil at the school, told how she was awakened by screams, and on going. out Haw a man, crouched on hands and feest, creeping from the door of Miss Hawker's room to that of Miss Skipton's. Ske punched him on the back and kicked bim, then tried to find hie queue for the purpose of holding him. She se very close to the man that in the darkness she could ses he was wearing a cop and thick cont. He did not move, but as soon as Miss

DECIMAL COINAGE, BÅSED ON THE

SOVEREIGN._

There remains No. 3, in fusour of which stand, to begin with, the arguments that a decimal coinage based on the Sovereign will, sooner or later, almost certainly replace the present British coiunge, and that this method is equally practicable, whatever rate of exchange may be fixed on fer conversion,

buch a currency would fit the requirements of the Culony and F.M.S. admirably, entail.ng as it does practically no difference in system from the existing currency.

Taking the dollar ni 1,8 the comparison be. tween the suggested currency and that now existing would be as follows:--

10 Florins

£1

1

01

3]

www

77

.1

Tira

$12

1.20 -12 -012

Subsidiary multiples on the direct decimals,

ou the same system as at

in the

Wo tako the following from the Straits Timer of the 6th inst.:-The dismissal of the charge against the two Americana, Mesare. Hajkins and Grossmayer, mil the comment by the Magistrate, Mr. Breckman, that their arrest was seemingly due to an unfortunate mistake, was a happy termination to one of the most miserable Christmas holidays that any pair of THE QUESTION OF FALSE COIN. -

American globe-trotters ever experienced in With a token currency there is always the this Purple. Orient." The episode is one danger of quantities of false coin being put into which demonstrates the uncertain ways of luck. circulation. All the gold enrrency countries, Here were too young men of adventurous however, nes silver tokens of inch lower spirit, and with ery capacity for enjoying a and, with the possible exception of Jars, they own to onery on with, but they are expecting been disproved by svoute. Paddy is scarce seem to be able to keep down the manufacture a remittance on a personal account from a in the market for the moment, but the barvest of take coin. There does not appear to be any friend that wants them to make some purchase is ter than usual. For long way out reason why this Colony could not do the same.

ast. in Hongkong, the manager of Klong Bansep, for example, a district which In this connection enquiry might he made as to the Hotel Bads he has 3450 for W. Hopkins has a largo yield, the paddy is still quite grecu. whether modern metallurgical science could not and hands it to the men on the teamer. Tha The crop will an doubt be below the average; detjes au alloy which the coiner would find it money belonged to another and entirely different in some districts the gloomy prophecine given difficult, if not impossible, to manufacture. W. Hopkins, so the manager commauicates above will be fulfilled; bat judging from the The new currency motes should be distinctive, with the police. The police telegraph to reports to hand and from past experience we both in form and design, from the present Singapore, and the two globe-trotters are 896 no reason whatever to credit the estimate. potez, and the varicus denominations should arrested the moment the ship arrives hore of a 50 per cent. failure. The Klang Rangsit he clearly differentiated from each other by Now note their luck. It is Xmas Day-a Bank yield seems as good as ever, and the fears room means of their colouring, as in the case of holiday. The next day is also a holiday, and to be inore in Bangkok than in the country. postage stamps.

the next again is a half holiday, being It is to be hoped the Ministry of Agriculture will take in hand an official estimate by another Saturday. Three days go by before they can even got their Consul. He has to procuro year. It has tried it before with little success, them a lawyer, Mr. E. F. H. Edlin, and be but that is so reason why another attempt has to find some way of identifying them and should not be made. then of proouring bail. Meanwhile-pending communications with America by wire—the lawyer was able to procure for them som amelioration of their lot in jail; because it is part of our jail systom to give an unconvicted man in misfortune treatment which is in many respects harsher than that extended to convicts. So, on the whole, the two young man had staple time to feel down on their lack." It was, as the Hongkong Hotel manager tearted, and Mr. Brockman sisted from the bench, an unfortunate mistake; and one for which the manager and the tourists feel equally sorry, but they can scarcely attribute the unhappy episode to the peculiar inefficiencies of Britain's system of Colonial administration. The incident was one of a nature more common in the United States thas hereabout.

THE 1897 SCHEME,

The above scheme it is suggested is free from the objections there were to that put forward by the bub-Committee of the Chamber of Commerce in 1897. This article is already to lengthy to permit of these objections bolag dealt with now, but some of them were pointed aut in Mr. T. E. Earle's criticism published

les at 5 are on the market at $4th. Star could not find it, but ber search brought Ler coined as found convenien present, could be along with the Sub-Committee's Report

Ferries (oid) have sold and are in farther rA. quest at 85, the new issue is obtainable at $15. Shell Transports have been booked at £1 88, 01. and El Bed and'are silil ongnired for.

REFINERIES.-China Sugars have been booked at 88o and $999) cash and equivalent rates forward, and a further cash demand exists, Luzone are on offer at $24.

MINING.Punjous old and are in request at $2. Raubs are wanted at $71.

DOCK, WHARYES & GODOWNS-Hongkong and Whampoa Decks have sold in small fots at 92074 and $205, and more shares are obtainable at the lower rate. Hongkong and Kowloon Wharves bare boom booked at $91 to $93 and close stenly at the latter rate. New Amoy Docks are quiet at $10.

Moore chased punching him he ran out, Most

of the children were down in the street, and witness and two others were tho pely papils apstairs. Some time after a prisoner was him by bis clothes xa the mau she encountered brought in by the police, and witness recognised on the verandah. He was the first defendeat, hom next day. at the Central Police Station, she picked out from 'umongst a pumber of others.

Alukong described the arrest of the first defendant, and said that in his possession he fund two aandles sud a bunch of tapo similar to the two pieces pointed out to lum on the verandah by Miss Howker.

Au Indian constable followed with evidence as to the arrest of the third defendant, after which the case was kejourned.

FRACTURING A CHILD'S ARM.

LANDO, HOTELS & BUILDINGS--Hongkong Lands are unchanged with sales and further buyers at $184. Kowloon Lands continue in request at West Points esp be obtained at 56. Humphreys Estates have been booked at $12 and $12.15 and continue in demoud at $12. Hongkong Hotels are somewhat better

Annoyed at dropping into the water a bag of with sales at $142, Orisate Hotels can bu rice which he was carrying on his shoulders procured at $3.

from a junk to a godown, aud angered by the COTTON MILLS- We Lays heard of innocent amusement of some anlive children, business for this head, and quotations are who flocked to the water-front, to watch developments, & coolie caught one of them by the arm and swung him away so violently as to fracture the member. He was arrested, plead guilty to the charge, and was fined $25, which was paid for him by a friend.

nxchanged.

MISCELLANEOUS.--Manila Investments are wanted at $15. Groon Island Cements are offering at 8214 ofter sales at this rate and $211. A S. Watrous have sold at 8144 Electrics ere steady at $13.10-fold) and $6.65 (new), Dairy Farms are in some request at $11. China Providents have declined to $24 sales and farther ellers. Universals can be procured at

MEDIC-China Provident Lozu & Mortgage Co., Ld., ordinary yearly meeting to-morrow, the 17th instant. West Point Building Co. Hongkong Land Invessment. & Agency Co., Lt, and Hongkong Land Reclamation Co. Lad ordinary yearly meetings on the 26th instant.

CHURCH SERVICES.

PHILIPPINE MATTERS, ·

S. JOHN'S CATHEDRAL. 18th January, 2ud Sunday after Epiphany, The Senate committee on Philippine affairs

"Matius (110)

has reported favourably upena bill to appropriate Responses, Tallia; Venite, Tacker: Psalms. two and one-half million dollars for the urgical- Buruby, Folion and Bentinck: Te Deum, Dykes tural depression in the Philippines. There was iF; Benedictus Hopkins in (1st M.); a division to the amount which should be Hymus, 273 and 537: Kyrie, Gadsby in Gappropriated; two members contending for the amount recomu ended by the President, The Offertory Hymn, 390.

bill will be rushed through the calendar and bea a good prospect of passage,

Evensong (5.45 pan.). Responses, Tullis; Pealms, Stainer and Trout Leck; Magnificat, Tarle in F 8th M.); Nuc Dimittis. Monk in A minor; Hymas, 169, 78. and 31, Vesper Hymn, Steane.

GOSPEL HALL.

6, Arsenal Street, Top Floor, off Queen's Road

East.

Meetings are held as follows:-Sulay Acte 2, 42, 11 a.m.; Gospel Address, 6 p.m.

Tuesday Soldiers' and Sailors' Bible Class

p.

Thursday-General Bible Class, 6 p.m. Saturday-Prayer Mesting, 6 p.m.

The Florin (2-or £.1) would natamlly take the place of the dolar, in fact the token coinage, for all practical purposes, would exactly fill the place of the existing currency with the minim- um amount of disturbance. Prices would readily adjust themselves, and all the conveniences of a 2-dollar would be abtained without saddling tha

Government with an enormous loss, without canning the risks attendent on fixing artificially the value of a silver coin and without ansaital ing a permanent restriction of currency,

HOW TO BRING IT ABOUT..

Assuming that such a form of currency, simple, and sily understood by the native, there being no change in the system from that existing, is adapted, we have now to consider how the change can be brought about with the minimum of loss both to the Government and to individuals,

The cost of effecting the change depends on the number of dollars which the Government would have to take up on conversion. It is almost impossible to estimate what this would amount to because (1) the mumber of dollars ia circalation cannot be ascertained with any approach to accuracy, owing to the constant but unknowa withdrawals to China. Sism, etc., and (2) because it would be impossible to entirely prevent speculative shipments, which will inevitably be made if it appears probable that the conversion rate will be higher than the silver value of the dollar.

The most feasible method appears to be the

following:-

J. GRAHAM.

F. W. BARKER.

HONGKONG LAND INVESTMENT AND AGENCY CO., LD.

The following is the fourteouth report of the board of directors to the ordinary meeting of shareholders, to be held at the Company's offices, Victoria Buildings, at noon on 26th January

The mal profits for the year ending 31st | December, 1992, including $8,30504 balance brought forward fr. m last account, after From this BROUut interira dividend paying all charges, amount to $72,640.76.

XII

of 6 per share has already been paid. It is now prop Red to pay a final dividend of $6 per share, making a total dividend of 12 per cent, per annum on the capital, and after writing off directors and nuditors' fees there remains & bakice of $51,707.26 to be carried forward to the credit of a new profit and loss account,

DIRECTORS.

Mr. A. Hampt and Mr. H. P. White having resigned their seats, Mr. C. Michelas and Mr. J. H. Lewis were invited to join the board in their place, aut this now requires confirmation. Messrs. N. A. Siobs and D. M. Moses now retire by rotation, but offer themselves for re-election.

AUDITORS.

In the absence of Mr. F. Henderson, the

accounts have been audited by Mr. T Arnold in conjunction with Mr. J. C. Petex, who now retire but offer themselves for re-election.

CW. DICKSON, Chairman, Hongkong, 12th Janaury.

WEST POINT BUILDING CO., LD,

IN NEIGHBOURING COUNTRIES,

The Saigon rice crop was estimated, on the 18th instant, at thirty per cent. below the In Burma the Government estimate of the average yield, owing to drought. quantity of rice available for export next year in 1,060,000 tons of cargo rise, or 240,000 tons less than the estimate of last year, and 300,000 tous less thus what the actual exports of this year are likely to amount to. This estimate is larger than was generally expected, looking to the damage caused by the drought in October and November, and to the general unfavourable weather experienced during the season, and many think it will have to be reduced next. month when the average weight of a basket of paddy will have been ascertained, a very im- portant factor in making up an estimate. At the same time, the Gove smeat figures have been so reliable for many years that it is perhaps safer to accept the above se probably correct. Atthe middle of this month the Rangoon paddy marzet was practically not open, only a few boat.

LORD KITCHENER AND DE

WET'S BOOK.. Messrs. Archibald Constable & Co., the pablouds coming in daily. lishers of Commandant De Wet's book on the South African War, write as follows to the Times-Wa note in your issue of to-day the following cablegram from Panipat, through Reuter's Agency ----

"LOED KITCHENER AND DE WET'S BOOK. **Panipat, Punjab, 4th December. "The general accuracy of De Wet's state- meats in his book on the war must be regarded. with much scepticism, considering that he gives currency to such assertions as that recording the escupe of Lord Kitebenar from the train held up by the Boers at Leonwapzait. Lord Kitebener was not in the train at all."

We would like to point out with regard to this sweeping accusation, impugning the general accuracy of De Wet's statements," that it is impossible for the author of the cable- gram to have saun General De Wet's book Three Years War, though possibly be may bave seen a brief cable summary of the book. We think it is a well-known fact that a train in

TRADE

TELEPHONE No. 135.

STILL LEADING.

MARK

"CLUB"

A SCOTCH WHISKY OF EXCELLENT

QUALITY AT REASONABLE

PRICE.

$15,00

LIQUEUR WHISKY

TRY OCE

(1) On a certain date the Government, having prepared a large supply of bow notes of various The following New York telegrams are from denominations, including notes for one florio the Manila Cableueros-The House of should issue a proclamation simultaneously all Reprezentat.ves has passed the Philippine over the Colony and the F.M.8. demonetising Constabulary Bill without any change from the the British and Mexican dollars as from another

which Lord Ki chenor was travelling was bill as reported by the committee. This bill date, say fire months ahead. For six months

stopped by the Boers, and that he narrowly

PER DOZEN think it only fair to was introduced in the House, and cousqueut. from the date of the proclamation these dollars

The following in the raport of the general escaped capture; and still lacks the approval of the Senate. It would be received at the Treasury, at all Goveru

in describing this episode provides for the temporary rank of brigadier- ment offices where taxes are payable, and at such agents to the ordinary mesting of shareholders, the author to quote the actual words he uses

to be held at the ompany's offices, Victoria Build- other places as may be found convenient inge, at 11.45 am, on the 20th January

But my plan was to cons to nothing For IF YOU REQUIRE A PERFECT general for the Chief of Constabulary and the

when, during the night, Fronemas reached the rauk of colonel for bis assistents. Another (arrangements could doubtless be made with the

The net profite for the year, including the provision is that the Philippine Scoute, now a Banks), and Notes in the new currency given amount brought forward from the previous year, line, a skirmish took place then and there with the English outposts at Lesuwspruit. railway part of the military establishment, shall be in exchange at the conversion rate, which amount to $40,414. From this amount a bridge. At the same time a train arrived from annexed to the co stabulary.

should be approximately the rate of the day o intarin.dividend of $1.50 per share bus already issue of the proclamation, or very slightly over bez paid, and after writing off directors and the south, os which the burghers opened sch

a fierce fire that it was speedily brought to a KING EDWARD VII that rule. Thus, supposing the conversion rate anditors' fees, it is now proposed to pay a final stand-still. General Froneman at once gave were 1/8, everyone bringing twelve dollars to dividend of $1.60 per share making a total the Tressary would receive ten florins, or one dividend for the twelve months of $3.0 per orders to atorm the train, but his men did not carry out his orders. Had they done so, Lord pound. If the conversion rate were lit, twelve share, and to carry forward the balance of dollars would purchase aise forins,

Nobody know that he was in the train, and it During the period of conversion local $924.14 to credit of new profit and loss account. Kitchener would have fallon into our hands was only later that we beard how, when the monetary transactions would have to be sopi ducted to a great extent in paper currency.

train stopped, he got a horse out of one of the Meansbilo, immedin ely after the proclamation

wagons, monated it, snt disappeared into the the Government would sat about the snu

darkness of the night. Shortly afterwards the train moved on again, and our great opportunity facture of the new coinage and as soon as it was

was gone!** water oure." Efforts to get him ready could rodeoni all notes presented. Until to talk more extensively failed entirely. The the new etinage was ready the liability of the reports received from Manila concerning recent Government to redeem their notes in voin would occurrences in the Gleux court-martial havo have to be suspended. enused great discussion throughout the country, (2) From the date of the proclamation the and especially in military circles Secretary importation of dollars would be prohibited, Root's decision to refuse the presence of Generals shipments already afoat and contracts already Chaffee and Smith and others at Manila is entered into excepted, the Banks and others i exceedingly unpopular. Public sentiment is being required to furnish declarations of con- now were with the Army than at any time since tracts: the bona fides of shipments would be the close of hostilities.

proved by date of bills of lading.

General Chaffee, in an interview, states that there was nothing in any order issued by him which could possibly be construed as justifying

use of the

DIRECTORS.

Hon. J. J. Bell Irving having retired, Hon, C. W. Dickson has been appointed in his stead, as this appointment now requires confirmation. Hon. CW. Dickson and Mr. A. J. Raymond retire by rotation, but offer themselves for ro election;

AUDIT.

In the absence of Mr. F. Henderson, the accounts have been audited by Mr. J. C. Peter, who now retiros but offers bimself for re-election.

A. SHELTON HOOPER, Secretary to the Hongkong Land Invest-

ment & Agency Co., Ld, General Agents for the West Point Building Co., Ld. Hongkong, 12th January.

Now, even if it were to be conclusively proved that in this particular General De Wet had been misinformed, we cannot but feel that for? any one to venture upon a wholesalo denuncia- tion of the general accuracy" of a book of which he cannot possibly have seen a single page is absolutely unwarrantable. Such prominence has been given to the Panipat cablegram that we appeal with all confidence to you to give equal prominence to this latter.

PER DOZEN

H.

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