1903-07-14 — Page 3

CHINA LIGHT & POWER CO., LD. |

EXTRAORDINARY GENELAL MEETING.

THE CURRENCY QUESTION.

We gave a short time ago, Sir Thomas An extraordinary general meeting of share-Jackson's evidence before the Committee on the holders in the above Company was hold at the offices of the general managers. Messrs. Showan, Tumes & Co., yesterday at noon. for the purpose of confirming the three resolutions passed at a meeting held on the 27th ult. The Hon. R. Showan (chairman) presided, and the others present were the Hon. Sir C. P. Chater, C.M.G., and Messep. D. E. Brown, J. H. Lewis (directors), A. G. Gordon, A. Ruid, UC. A. Tomes A. Babington, Pong Wa Chun, and R. Header Kon (secretari).

The notion calling the meeting having tven rend,

The CHAIRMAN propoved the confirmation of the first resolution. which was as follows:

THE HONGKONG DAILY PRESS TUESDAY, JULY 14TH 193

I understand that as you entertain great |

3

PLATES, PAPERS AND CHEMICALS

EASTMAN'S KODAKS, FILMS AND ACCESSORIES,

· DEVELOPING AND PRINTING UNDERTAKEN

the present value of the dollar ?-That is so; about 27 per cent. -

doubts about the expediency of changing from PHOTOGRAPHIC Do you think that a change of that naturo | the silver to a gold standard in the Straits won't cause serious disturbance in the relations Settlements, you would not try the experi- Straits Settlements Carroney, We subjoissaining between debiers and creditore ?-Most | ment?—It bristles with great difficulties and below part of the evidence of Mr. T. H. White assuredly, but I think commerce in course of grave dangers, not only to the trade, but may head, who was examined on the 20th January time would adjust itself-accommodate itself to seriously affect the credit of the Government, last,

such a change.

besides the possibility of bringing abont riots. And you hold that the outcome of the experi ment or the cost of making it cannot be estimated beforehand with accuracy --I do not think it can be estimated with any degree to approximato accuracy. I have not been able to arrive at any estimate. Thero is already a very

NEW AMOY DOCK CO., LD. largo volume of silver in the vaults of the

The following is the report of the above Government in the Straits, and whether they Company presented to the shareholders at the would have to sell any portion of that, and stoleventh ordinary yearly meeting held at the what price; it is impossible to estimate.

office of Mesars, Boyd & Co., Amoy, on the 8th July:~~

(Chairman) If a chauge were made in the

But do you think there would be at arst any Straits Settlements to a gold standard, I under-serious disoulties?---The margin is so gresí stand you to hold strongly that the change that I do think serious difficulties would arise. should be effective and therongb ––Other-

It is quite a stort time ago that the dollar wise disastrous resulta would follow, commeres

was worth Rs.-Yes, quite a short time ago. would suffer seriously, and so would the credit

And did the fall from 25, to le. 78. pr daco any very disastrous effect?- etinit people mint have lost very considerably by it.

of the Goverement,

Do you think the cost of the change would be very great-1t is quito impossible to estimats what the cost would be. If the change is made, the Government presumably would make it for the benefit of the majority of the people, should bear the cost of making the change, and should redeem the pressut money, Mexican as well is British dollars, in circalation by virtue of the law which has been in fores since it was en- acted. Although the offigy of the King is not on there Mexican dollars, yet ut the SERIO time

the King's Government ins legalited them, and for the Government to The CHAIRMAN proposed the second resolu demonetize these dollars without redeeming

That the capital of the Company be re- duced from $300,00 (divided into 15,000 shares of 520 ouch) to $180,000 (divided into 15,000 shares of $10 each) and that such rednction be afected by reducing the nominal amonet of all the shares in the Company's capital from $20 to 810 per share,"

Bir FAUL CHATER seconded, and the motion was corried assaimuusly.

tien, as follows: That after such reduction the capital of the Company be increased from $150,000 (divided into 15,000 stares of $10 each) to $500,000 (divided into 30,000 shares of $10 each) by the creation of 15,000 new shares of $10 each to be offered and if accepted to be allotted to the present shareholders of the Company in the ratio and proportion of one new share for 'overy old share in the Company beld by the respectivo shareholders thereof."

Mr. BROWN seconded, and the resolution was confirmed. new, dixa,

The CHAIRMAN then moved the confirmation

of the third and last resolution, the terms of which were: That in consideration of the guarantee and audertaking now given by Messm, Showap, Tomes & Cn. (the general textilhed managers of the Cotepany) cad

(and to be by their signature hereto further testified by the execution by said Shewau, Temes & Co. of a separate

them on a just basis would be equivalent to

tate robbery. Having bad à long and intimate experience of the Chinese and the Malays, I entertais grave doubts as to whether riots would not ensue, and possibly large numbers of the natives would rise in revolt against a gross in justice, us would probably be created by demen tislug the present money and not redeeming it. Well, you hold that the Straits Government should redeem, es you express it, all the Mexican dollars circulating in the Straits Settlements? ---Yes,

But do you hold that the Straits Government weald by bound to redeem Mexican dollars brought from outside and offered to it- Certainly not, unless those brought in wore for the purposes of fufilling and carrying out). contracts already legally entered into.

I suppose the change from Is. 7. to 25 would not be more serious than was the change from 2s, to ls. 7d.; it is the same amount of change, only it is in the opposite direction?-It might not be mere serious. f coaras, the peoplë bave not yet realised their loss from 28. to la. 7d. There is a great deal of money invested in local industries, house property, etc., still out there. The loss has not been actually realised because functuations take place, and because people hold on in the hope that there will be a recovery.

But if the new dollar were given a fixed gold

silver would be 23fd. per oz. ?—Yes, that ja no. And that would be very little different from the present price -Very little different.

+

At present large amounts of Merican dollars and British dollars are imported into the Straits Settlements, and are not kept there? Yes.

A. CHEE & CO.,

17A, QUEEN'S ROAD, HONGKONG,

Annexed I beg to submit to shareholders the ascal annual statement of accounts of the year onding 1st December, 1902, They are sent to other countries and are used The net profit the year's in paying for various articles ?—Yes. -

working is... Add balance carried from last year

Jess beans...

Well, it has been argued that if you have a gold standard theso Mexican dollarsand British dollars will not be available for the people who come from other places and want

value of Is. 8d., the equivalent gold prics of Mexican dollars to take home with them, and It 1.RE been suggontod that the Merican dollar and the British dollar, even after the gold standard was established, should be allowed to be imported as article of merchandise into the Straits Settlements, sa that any man coming to the Straits Cottle.

But if that were done, and silver were to

rise again to, say, 2d. per oz, you would have all the difficulties of a fluctuating exchange All the difficulties, and no Customs machinery could possibly stop the outflow of the silver dollars if their goll value in the adjacent markets was 10 per out, higher than in the Straits.

Just us in India, if the price of silver were to

rise to 504., you would have all the difficulties of a finctuating exchange over gain? Most assuredly,

And then you would bare a higher rato of exchange than you have at present?—Yes, a Brought in bona fide-Bora fide.

higher rate of exchange, but all the difficulties You hold that if there was a change to a gold would have to be encountered. the

standard, all obligations and contraeis entersă

¦

instrument cf guarantos to be executed into previous to the time when the standard was be any considerable rise in the guld pries :

with iho debenture contemporaneously Trust deed or mortgage hereinafter referred to and to be held by the trustees thereof to be appointed as hereinafter mentioned) that the dividend for the years 1903, 1904 and 1905 in respect of the new skares referred to in the second of the preceding resolutions aball not fall below the rate of 6 per centam per aquum in each and every one of the said three years; the said Shewan, Tomes & Co. sa such general managere as aforesaid be and they hereby are authorised to issue debeatures to the amount of not more than $200,000 on the property of the Company to be secured by a duly executed mortgage thereof by the Company to such permvas as trustees for tud on behalf of this deben- ture tolders as the aid Showen, Tomes & Co. may by writing under their hand appoint. The mid debentures to be issued in the shape of monds for $1,000 or $100 each at the debenture holders' option respectively, but so that the aggregate amount in value of such debentures taken together shall not exceed the saw of $200,000. The bonds for and in respect of the said debentaron may be issued at a discount not exceeding 24 per cent, on the face value thereof, but so that the holders respectively of such debentures shall not be satitled to be repaid more than the face value thereof. The said debentures to bear interest at the rate of

8 per cent, per annum to be computed from the date of actual imate to the respectivo holders thereof and to be repayable within yeam from and after the date of such actual issue in manner fellowing, that is to say-No portion of the amount paid in respect of any of such debentures shall to repayable during the first three years following the date of the actual issue thereof, but upon the expiration of such period of three years there shall be repaid in respect of each debenture to each and every holder thereof

changed should continue to be payable in the old standard silver dollars-Certainly.

That was not done in India, was it -Well,

yes, it was, as in India the coinage was not changed; the coinage remained rupees; the money remained rupees wisther notes or silver- the money there remained the same. silver rupees. In my opinion, the gold standard cannot be introduced and made a complete success in the Straits unless the present dollars eirculating there are demouetised, and a new dollar, a new coin, whatever it may be called substituted.

Would you make the new dollar of the same weight and fineners as the present one-I think it would be expedient to do so.

You think that if a fixed artificial gold value is to be given to the new dollar, its quantity must be retriviel-18“ zazde restricted, otherwise it will not be possible to give it a fized gold value. It took India some

You think the name of the naw coin should

Do you think it possible that there might of silver?-I can imagine that India with prosperous years ahead-one or two yenra amount of silver for coinage purposes. Then might have to buy a very considerable it is anderstood that the American Government has coined all the silver bullion they had in their vaults, and that they may have to enter the market and bay silver at no distant date for coinage purposes.

And that might cause an increase in the demand for silver ?—Yes.

Which you think might very appreciably pat up the price of silver?-Which would curtainly appreciably put up the value of silver, Do you think it is possible that the recent heavy fall in the value of silver may cause some reduction in the quantity of silver produced yearly ?--I think, nytramałpy=-metery

Therefore, at the present time, although the

question is one upon which nobody would

like to pronounce a decided opinion, there

six years to restrict and limit the currency suffis un prospect of any serious further fall civatly before the Government could get gold in the value of silver-immediately?—I do azy. I think that the present tendered in exchange for rupees either in silver but 892

position-the recent heavy decline has been or in nates.

cansed in large measure by newspaper rumours and reports, ramours that Mexico was going on to a gold standard, and that the Straits Settlements intended to go on a gold standard. I think these rumours have been discounted to a great extent, but these rumours bure certainly caused further want of confidence in silver, and brought about the heavy fall,

not be the dollar. Now, why do you hold that I do not say uob opinion-Not the dollar? the dollar.

You say in your memorandum, "Whether the new coinage is given the same of the Straits dollar, or whatever other title, is not material; but il sppears indispensable that the | coin itself, as well as the name, should be diffe. eat from any of the present dollars. That is, that it should not be called the Mexican dollar or the British dollar" ?---That it should not be called the Mexican dollar or the British kollar. It may be called a dollar -It may be called the diraits dollar.

And when the Government called in the existing dollare, and gave the new dollars for (2) "One quarter of the amount paid in them, they would have at the same time to pro respect thereof within six calendar months bibit the import of Mexican dollars and British following the expiration of the said period of dollars I think that would be absolutely necessary, otherwise the Government would have thrown upon their hands far more dollars than they had suy right to redeem. Dollars en route to the Straits, and the further amount of dollars required to fulfil contracts already entered into for immediate and forward delivery,

three years;

(1) 'One quarter of the amount paid in respect thereof within twelve calendar months following the expiration of the said period of

three years;

following the expiration of the said period of three years,; and.

permitted.

is

China still uses the silver standard ?That

0.

And she bay large gold obligations!-Enor- mous-£120,000,000 sterling, roughly speaking Aud the fall in the value of silver has been a serious matter for her --Has added enormously. to her obligations.

If there was a further fall in the value of silver do you think the effect on China would be serious -I think the effect already is so serious that she will not be able to pay the exorbitant indemnity that was exacted frota her in 1901.

And if she is not able to pay it at the present rate of silver, a fortiori, she will be unable to pay it it silver dalle much lower? Mast assuredly. Her proposal yesterday in Peking was to collect their duties on exports and imports in geld.

Wonki the collecting of those duties in gold have a serious effect upon trade It would paralyse it; it would stop the imports for a time, and some of them possibly permanently,

() One quarter of the amount paid in respect thereof within eighteen calendar months prior to the change in the standard, should be And in the future, after the establishment of a gold standard, the Government would have to possess the exclusive powers to coin the new dollar?--I think so; I think that is indispens-export and import trade -Yes, enormons; it is far were than the aggregate of all the other countries put together: I think it is upwards of 60 per cent.

(d) "One quarter of the amount paid in respect thereof within twenty-four calendar months following the expiration of the said period of three years,

Mr. LXWIS seconded, and the resolution was unanimously approved.

This was all the business.

WEATHER REPORT.

The Hongkong Observatory yesterday issued the following report :--

The barometer has riser over Japan, fallen on the E. coast of Obins.

The Chius Sea depression has probably moved into the Gulf of Tongking.

Pressure is high over Japan, relatively low

over Central China.

Gradients are slight for SE. winds in the Formosa Channel and off the S. coast of Chins.

Forecast:--Light BE. winds; showery.

LATEST STEAMER MOVEMENTS. The P. & O. steamer Rengal left Singapore for this port on the 12th inst., at 11 am with the ontwerd English mails, and is due here on the 17th inst, at & a.m.:

The T.K.K, steamer Hangkeng Maru, with mails, &c., left San Francisco for this port, via Honolulu, &c., on the 7th inst.

The P. & &. stesmer Indrapure left Portland (Or.) for this port, viu Japan ports, on the 30th inst., and may be expected here on the 10th prox.

able.

And the new dollars would have to be, of course, unlimited legal tender?-Yes, un- doubtedly, unlimited legal tender, otherwise with an Asiatic race I am afraid there would be great difficulties, and the most serious riots would in avery probability ensue.

Do you think that a change on the part of the Straits Government from a silver standard to a gold standard would have much effect upon the price of silver-The French Government would immediately take action to establish a gold standard in Indo-China. The fact that this Committee is now sitting, and the propel which bas been made to place the Straits on a gold standard, may have already exercised more than a dus influenes upon the silver market; the price may have been forced down anduly. It may be that there would be a further heavy fall, Lat it is very difficult, if not impossible, to predict what would take place.

Yon point out that if the new dollar were given & value of 25., that would be equivalent to a price of 288. per oz, ?—About 28d. per oz. standard silver.

And Fould be an increase of 27 per cent. on

Is British trade a large percentage of that

And you think on the general question that the fall in the gold price of silver has on injurious influence on trade between the Beat and the West -The Buctuations in exchange have been troublesome.

ments and selling his goods for the now Straits Settlements dollars could then ex- Straits Bettlements. dollars change thesa for Mexican dollars, if he wanted Mexican dollars to take home with him P-Yes, I quite see it, but then my difficulty is this--the Govern

Dent will have to redeem Moxican as well as

British dollars.

We are assuming that all that is done, that Mexicon dollars and British dollars are demone- tised, and there that are in the Straits Settle- ments are converted by the Government, and after that the Government koy," You may bring in Mexican dollars or British dollars as you like; they are not legal tender in this country." Mr. Adamson's question is whether sa arrangement of that sort would do away with the difficulties which some people have anti cipated I think the trade could be carried on 'without that, because it is a very round-about way of fiancing the movements of merchandise. It the Straits sell to China or to Siam

they get pril. Banks will negotiate their bills on Hongkong or Hangkok; they will got paid in the Straits money, and buyers will pay the equivalent in Hongkong or Siam.

Well, suppose that the man came from a place where there is no bank; I think that in where the chiof difficulty arises; there are places. that have not got banks yet?--If it paid lanks to so usuce trade they would do it, ofher- wies they would not. Whether the trade at

LIETO

ficient amount to warrant the banks incurring

the expenditure of buying silver for coinsge into British dollars, and buying Mexicon dollars for shipment to the Straits, remains to be seen, but if it paid them they would do it. If the

volume necessitated it it could be dose. But a long Chins and Hongkong romain on a silver basis these dollars, Moxicar and British, will continue to be sent out there.

ARMS-SMUGGLING IN CHINA.

The Untoxintische Lloyd publishes the follow- telegram, which is dated Berlin, 7th July-

Japanese papers are charging German firms with emuggling arius into China, saying that Consul-General Dr. Kusppe was entirely blind to this, and that evon German men-of-wor were introducing arms into China, Oficial reports from East Asia siate, however, that the German suthorities have refused all requests for permits to import arnas. There is no doubt that not a single derman firm is doing an legitimate arms business. On the other lund, it is a well known fact that both tha Japanses and the Belgians are acting in another way. It is spoken about openly that Jopen is

•

1

On

..$42,681.94)

INSURANCES

(83

SALAMANDER FIRE INSURANCE COMPANY.

HE Undersigned, having been appointed AGENTS for the above Company, ara repared to ACCEPT TISKS against FRE at Current Rates.

HOTZ @JACOB & CO. Hongkong, 2nd April, 1900

N°

NORTH BRITISH AND MERCAN.

TILE INSURANCE COMPANY.

TOTAL FUNDS at 8197 Deobmurr, 1802, £16,378,771.

43.13 49,085.13 L.

which it is proposed to deal with as ander:

Commission and fees to general manager, manager and consulting committee

AUTHORISED Capital... £5,000,000 0-0 Sunscribed Capital........ 2,750,050 0 0 PAID-UP CAPITAL........ 687,500 0 I. FIRE FUNDS. ....... 2,867,215. 11 10

The Undersigned, having been appointed 8.530.39

AGENTS for the above Company, are pre- pared to ACCEPT RISKS against FIRE at 13,000.00 Current Rates. ... 18,000.00

SHEWAN, TOMES &.CO.,

Agents,

www

To reserve (sking it sinted

355,500)... Dividend of $2.50 per sharo..." Carry forward...

4,548.74

43,085.13

Hongkong, 19th June, 1993,

11888 NORTH GERMAN FIRE INSUR NORTE COMPANY OF HAMBURG

To enable the dock to do the work which it is new competing for, up-to-date muchinery had to

The Undersigned AGENTS of the above be bought, and much heavier stocks of material Company are PREPARED TO ACCEPT First carried, and in order to give the shareholders a Clase Foreign and Chinese Risks at Current better idea I give bolow the amounts exponited Rates.

in plant and machinery and additions to stock of materials, etc. since 1896, via: Extension of dockartisans' housos, ate. $11,551,38| Plant and machinery......

32.155.43 Excess of material carried over that

in 1896

39.629.89

GENERAL MANAGKE,

Mr. W. S. Orr was given this appointment.

CONFULTING COMMITTEE.

In accordance with Section of the Articles of Association 1bo presont members, Messrs. B. Hempol and J. P. Wingate, retire, but being eligible offer themselves for re-election.

AUDITURS.

The accounts have been audited by Messrs W. Wilson and J. MeArthur, and their re election in recommended,

W. S. OKK. General Manager.

TRADE

MARK

TRIZUNO dip. 125.

OUR SPECIAL BLEND

SCOTCH

OF:

WHISKY

16

"CLUB"

AT

Per Doz.

...815

We have older and more expensive Whiskies

but we have no better VALUE than

CLUB."

H. PRICE & CO.

12 QUEEN'S ROAD

PRINTING.

143

THE PRINTING DEPARTMENT. of

und now negotiating with China in regard to T the HONGKONG DAILY PRESS

an import of 200,000 rides of the Murata and possesses every facility for the prompt and another new medal. Governor Ühen Fa, of ghantung, has only lately received a box with samples. Besides that, Japon has sold to Chins

48 guns, and is negotiating about another 24. Chinese officer have already gone to Japan to take them over. They are imported author tho declaration that they are intended for the Japanese troops now in North China.

With reference to this Mr. L. Vander Stegen writes to the N..C. Daily News --The Japanese açense the Germans of smuggling arms into China, which they deny, and throw the ball at the accusers, at the same time charging the Belgians with participating in the trade. ("It was not I, said the Cat, it was the mice who did it.”) Allow me to deny emphatically the German accusation towards Belgium; since the signing of the Feace Protocol forbidding the introduction of arms into China, the Belgian of Fluance has issued order to Minister

artos

satisfactory execution of all descriptions of COMMERCIAL AND GENERAL FRINTING,

ALL WOLE EXPEDITIOUSLYF EXECUTED. ESTIMATES FURNISHED..

NOW ON SALE

DIRECTORY OF PROTESTANT MISSIONARIES

IN

CHINA, JAPAN AND COREA

FOR 1903,

WITH ALPHABETICAL LIST.

88 PAGES. BOUND IN CLOTH AND LETTERED, 81. PAPER COVER, 60 Conta On Sale at AMERICAN PRESBYTERIAN MISSION PRESE,

Shanghai

I understand you would like to see fixity of value between the silver standard and the gold standad, if it were possible to attain it-To arrive at an International agreement now will be very difficult, but fixity would confer exor. mons tenefits n British commerce, and would the Customs, forbidding shipment of any Mr. EDWARD EVANA, Missionary Home,

to China nat excepting Hongkong. Shanghai; be a grand thing for the universe.

And you think that a change in the Straitsed to illustrate how strictly this order is Messrs. KELLY & WASH, Ln, Hongkong.

Shanghai and Yokohama; Bettlements would provoke a chenga in French varied out I will tell you that last December I

Shanghai; Indo China? Iam quite sure it would instantly, wanted to skip from Belgiam six revolvers and Mouse W. BREWER & Co., Hongkong and

But may there not be a change in French six thousand cartridges by a German steamer, YUEN CRONG BOOK STORE, Swatow; Indo-Chine, even though the Straits may not but was refused permission by the Customs. As Messrs. A. S. WATSON & Co., Amoy: make one ?—I have reason to believe there will the weapons were intended for European use, I Mestre. A. S. WATSON & Co., Foochow;

H. BLOW & Co., Tientsin; by no change unless the Straits go on a gold applied to the Minister of Finance for special Mestra. Hopes & Co., Seoni Press," Seoul;

permitsion, but he would not grant same, on ¦ * NAGASAKI PRESS" OFFICE, Nagasaki ; standard.

account of the Protocol in question, declaring at the same time that he had already refused permission to many German spplicants.

You have ?-Good reason; I have good reason to believe if the Straits continue on a silver basis that Indo-China will do the same,

Mears.

KORN CHRONICLE" OFFICE, Kobe; The "DAILY PRESS" OFFICE, Hongkong; and at the London Office: 131, Fleet Street.

Hongkong, 1st January, 1903.

STEMSSEN & CO. Hongkong, 29th alay 1895

[27 AACHEN AND MUNICH FIRE IN- SURANCE CO.

OF. AIX-LA-CHAPELL.

THE Undersigned, having been appointed AGENTS for the above Company, are prepared to ACCEPT RISKS against FIRE at Current Batas.

(113

REUTER, BRÖCKELMANN & co.

Agents. Hongkong, 21st April, 1897. GENERAL MARINE INSURANCE COMPANY; LIMITED, OF DRESDEN.

FTHE Undersigned, having been appointed THE

AGENTS for the above Company, are prepared to ACCEPT FOREIGN and CHINESE RISKS.

HOTZ, B'JACOB & CO. Hongkong, 1st September. 1902. [2327 NORTHERN ASSURANCE 09.

ESTABLISH En 1836.

THE Undersigned Agents of above Clapany

and Chinese RISKS against FIRE at Carrent Bates

WARNER & Hongkong, 14th January, 1963.

216

FUN INSURANCE OFFICE, LONDON

Taxe prepared to accept First-class Foreig

FOUNDED 1710.

The Undersigned having been appointed 'AGENTS for the above Company, are pro- paced to ACCEPT RISKS against IRE Current Rates.

SIEMSSEN & LO..

Agents.

Hongkong, 16th May, 1892.

[26

CON.

THE WESTERN. ASSURANCE

PANY OF TORONTO, CANADA. INCORPORATED 1851.

Cash Security

...£625,719

Total Losses Paid ...£6,760,240

HE Undersigned having been appointed AGENTS for the above Company, are prepared to ACCEPT RISKS against FIRE at Current Rates.

WM. MEYERINK & CO.

1439- Hongkong, 18th May, 1903.

HENIX FIRE OFFICK

The Undersigned are now prepared to GRANT POLICIES of INSURANCE against FIRE at Current Rates.

DOUGLAS LAPRAIK & CO.,

Agents for the Phomir Fire Ofen. 122 Hongkong, 17th August, 1887.

CARTRIDGES.

IMPORTED EVERY MONTH, THERE- FORE ALWAYS FRESH.

ILEY'S, SCHULTZE'S, AMBERITE Uand KYNOCK'S SPORTING CARTRIDGES 8, 10, 12, 16, and 20 BORE, and NEWCASTLE CHILLED SHOT in all Sizes, Nos. 10 to 5886.. AIR GUNS and AMMUNITION in Variety.

WM. SCHMIDT & CO. Hongkong, 28th November. 1902,

(11 CHADWICK KEW

M

DENTAL SURGEON.

No. 38, QUEEN'S ROAD CENTRAL..

Office Hours-9 AM, tá 5 P.M. Hongkong, 16th June, 1903.

(1721 ROYAL ÆRATED WATERS MANUFACTORY.

If want a drink of health,

you Iftis true that health is wealth, If you'd take your proper place. If for health you'd join the raçe, Always with a smiling face,

Where you can get good drink I guess, Pure water we always use, Essences many from which to chooss, Our list of drinks will you amuse Apply to—

F. P. DANENBERG, Manager. Factory & Oleo-West Point; Telephone 367; Depot Ice House Street; Telaphone, 374.

Novel Specialities. Best in the Far East Refreshing and invigorating drinks of the season. Just Produced. Long-Life, Non-Intari- oating and Excellent Beverages,

Hir-Oes, Winter Stout, Strawberryade, Jabiles-Champagne, Orange Chompagne, Hop (11.-2

Ale.