1909-02-08 — Page 3

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Som bulldings at Kowloon Ainte show a falling off of is met with the same open-handed generosity, consequeno more than accounted for the same genial, treesy, cordial welcome, the just refertine Lot 48, for which wo same firm, carnest handgrip. But what is most 37,349 month and taxes, became apparent here is that the Americans, with the by the fast and is still vacant. Tout

used to

no appropriation has been same burning patriotism which has enabled rent for remuneration to General them to make a great nation, show the same will Directors. Under the clauses Articles of Association the enthusiasm in the Philippines and are deter

Managers are only entitled

THE OPIUM TRADE. VIEWS OF HONGKONG IMPORTER",

THE HONGKONG DAILY PRESS, MONDAY, FEBRUARY 8TH, 1909.

Article X of the mma kresty ;-

We would emphasise the fact that pros. His Majesty the Emperor agrees to osta-sure was brought to bear pon the Viceroy of "blish at all the ports which are by Artiole II the Two Kwangs by the energetic action of this Treaty to be thrown open for the of the Consul General in Canton so that "resort of British Merchants, a fair and rega- the Regulations which he sought to enforce "lar tariff of expert and import customs and throughout the Kwangtang Province were "other dues, which tariff shall be pulty in other Prefectures these Regulations have withdrawn in the City of Canton, yet "nolited and promulgated for general

ation; the neperor farther engages that, been brought into force, native dealers in raw the when British Merchandise shall have once opinn have been fined and imprisoned by "paid at any of the said ports the regulated Frovincial Authorities at Chiu Chow and Wal Customs and dues, agremero handise may be the local Chinese, which has prevented them of the tariff to Chow, thus causing extreme uneasiness amongst be hereafter fired, such conveyed by Chinese Marchants to any pro purchasing raw epium and thus causing a com vince or city in the interior of the Empire plate disorganization of the Trade and a violent of China or paying a farther amount as tran- decline in prices, resulting in auch loss to the. it duties, which shall not exseed per cont. Foreign Morchant and a general want of couf.

dence on the tariff value of such goods.

the future, #rticle XIV of the French Treaty of Tien- tsin 1858:---

The following correspondanos has been for warded by the Secretary of the Hongkong General Chamber of Commerce for publics tion:

Hongkong, 9th December, 1908, To the Hon. Mr. E. A. HaWEZI, Chairman, Hongkong General Chamber

of Commerce, Sre-We have the honour to bring to your attention:-

(a) Copy of a letter dated the 9th instant addressed by us to the Colonial tecretary:

mined to as the Islands, with their capital, 12 er bent join the onward march of progressive peoples. Dear that the same amount to seven It is this sarge spirit which makes the Carnival the capital of the company. Under the success that it is. Everybody seems to be agement Directors get nothing in bad talking and thinking of the Carnival Their and the General Managers practically one ambition seems to be to make the Carnival af. I say practically nothing in the case of perhaps $1,000 to $1,500 per annum elesr powerful advertisement of the Islands and eral Managers because I estimate they Manila. About the result there cannot be heir allowance. If the bad clues are going slightest doubt. The second Carnival, benefitontinue it is possible shareholders may be by the experiences of the first, will ped to make some abange in the Articles everything in the Colony and property greater success than its predecesor, andating to remuneration se they were framed I have nothing publicity which it has gained will be in particular was booming. reward for the self sacrificing labour further to add, but, before moving the adoption of the report and statement of accounts I shall There was no formal opening of the be pleased to answer any questions shareholders ! Opium, which we contend are contrary to the At four o'clock the gates were opere may have to pat prowds streamed through the berries from the various Bands at date, marked the event, the Band front ading

promoters.

(b) Copy of alatter dated 23rd September last addressed by us to the Acting Contal-Goner at Cantan, and referred to in (a) enclosed herewith. This was published in the Hong

kong Weekly Press of Nov. 25th, 1908), These letters fully set forth the views of the Merchants engaged in the Opium Trade upon the altitude of the Chinese Authorities in seek- ing to impose restrictions on the sale of Raw rights conferred by Treaty mabling Raw There being no questions, the CHAIRMAN Opium and all merchandise, in any quantity

Whether

large or small, to be freely sold to moved the adaption of the report and account.

without anyone wishing to purchase same, let or hindranCO. agreed to.

Mr. DoWLEY seconded, and the motion was The CHAIRMAN moved the re-election of Dr. Soott Harston, J. 9. Van Buren, J. W. C. J. W. Noble and Messrs H. A. W. Slade, J. Bonuar and Ho Tang to the directorate.

which had taken op a prominent Moros of the statue of the Goddoss of off under Bandmaster Coke, cession.

Mr. Moss seconded, and the motion was marched through the grout it was

Masers W. H. Potts and H. Percy Smith Then the fun of the fair cart. Then carried. not till night that it ronchival city were re-appointed anditors on the motion of Mr. the gay throng promenag confetti Ho Foos, seconded by CAPTAIN CLASKE,

The CHAIRMAN That concludes the business Thank you for patronising the side shed for which and enjoying all the foru and this of the meeting, gentlemer. Carnival. Many cost of the scene.yar attendance. Dividend parrants will for added materially to opening of the ready ou Monday.

MORTGAGE CO., LD.

The great event, of co pageant of all THE CHINA PROVIDENT LOAN AND

by the Rajputs Hippodrome. An

Then participating in troceedings. Band, inauguration of cavalry and followed wonderaarioteering, elo; the infantry drill, ith a realistic atinck on programams cortechnic display--which the walled cit-re-being, particularly was the pri brilliant.

The twelfth ordinary general meeting of shareholders in this company was held at the office of the general managers. Messrs. Shewan, Fontes unil Co, on Saturday morning. Mr. R. Shewan presided and there were also present. Dr.

a tournamiat commenced. Yesterdourable to Hongkong, as The dray and Lieut. Byrne opposed Captain first round, This was the ench of oon, Beasley's steady plodding 1 through by 7-5, 1-6, 6-3. Br. play Barly of Hongkong, beat Capt. Brir. Robert Baldwin of the Manila

J

W. Noble, Mr. H. P. White and Mr. Chow Hing Kee (consulting committee), Mr. J. A. Young (secretary), and Messrs. J. M. E. Machado, A. A. Cordeiro D. W. Gazder, H.R.B. Hancock, H. T. Terry, B. Percy Smith, U, King Sai, F. Ellis and F. McCubbin.

The SECRETAEX read the notice calling the meeting

The CHAIRMAN said-Gentlemen, copies of the report and accounts for 1908 now laid be fore you have been in your hands for some days, trade in all its branches lay under a heavy eload, although I am glad to say that cloud has shown some signs of lifting since the your closed, and cullet for increased vigilance on our part, but I aza sorry to say that one or two old olienta, the prevailing depression, were oxing to unable to meet their engagements compelling us to enter inte possession. At the same time of interest were not so high BE rates

We need scarcely add that in consequence of the endeavour of the Chinoso to enforce the Regulations which are objected to, an element of angertainty, with a resulting want of confid- ence, has been introduced into the Opium Trade, which is having a serious effect on

the business. We therefore beg that you will lay this important matter before your Committen at an early date with a view to the taking of such further steps, as they may deem advisable to protect the particular and weighty interests involved. We have,

DAVID BASSOON & Co., Ltd. E. D. SASSOON & Co., 8. J. DAVID & Co, L. PABANEY,

..

TATA SONS & Co.

H. M. H. NEMAZES,

M. H. E. ELLAS,

P. F. TALATI, CAWASJEE Pallasjer & Co., P. B. PETIT, & Co.

Hongkong, 8th December, 1909. To The Hon. r. F.H. MAY, C...,

in

THERE IS NO

REASON WHY

ANY HOME

SHOULD BE

WITHOUT A

PIANO

Finally, we would wish to point out that British interests are so widely and heavily invol Aucune société de commerce privilegiés ved in the opium trade that the whole question ne pourra desormais s'établir on thine, et 1 should be approached with the utmost gravity. Before the British Government involve them. on sera de même de toate coalition organisée selves in further diplomatic action with the ** dans le but d'exercer une monopole sur le Chinese, conclusive proof should be adduced to **commerce, En cas de contravention an clearly show that the thinese Authorities are WE HIRE FOR

present, artic

article lee autorités chinoises sur les representations du cezaul ou de not only well intentioned, but have taken ste

at least proportionately equal to those being Tagant consulaire, aviseront aux moyens taken by way of curtailing the production by the de dissoudre de semblables association "dont elles s'affòrceront d'alleurs de prévenir Pexistence par des prohibitions préalables, afin d'écarter tout co qui pourrait porter atteinte à la libre concurrence"..

We would wish to lay special stress upon the fact that by the Regulations now sought to be enforced by Chinn, the right allowed by Treaty to sell their opinza to anyone, is taken away, and to All Merchants, whether British or otherwise, that the "société de commerce privilegice" as quoted above, has been prasically brought into existence again: thus reviving an abuse which led to misunderstandings between the European Powers and China and against which the Treaties of that period were specially intended to safeguard Free Trade in the future.

Wa submit that if Artide 5 of the Edict is carried out, in course of time, the number of dealers in row opium will dwindle to a very small number, healthy competition will cease, and the British Merchant will be at the mercy of the few native shops left in the trade,

British Government.

It may not be out of place to here give a few of the most important interests connected with the trade which will auffor and to emphasize the serious blow that will result to British Commerce if the opium trade is to cease in the course of a few years:

1 A loss of over Five million pounds sterl ing to India on the sale of Raw Opium alone. 2 A heavy blow to British merchants GE- gaged in the trade.

$10

PER

MONTH.

A heavy loss to atesmer owners, mostly

British bottoms.

British, as nearly all opium is carried in ROBINSON

4 A heavy loss to Fire Insurance ompanies, mostly British, who insure whilst it is stored upon land.

S

A beary loss to Marine Insurance Com-, panies, mostly British; who inanre raw opium whilst it is being carried on ship board.

6 A great loss to the British trade of Hong- keng and Shanghai and the Treaty ports, in- volving indirectly losses to labour, property and various other interesta.-Wẹ have to,

DAVID SASSOON & Co., Ltd., E. D. SAB8Oon & Co.,

E. PABANEY,

TATA SONS & Co., H. M. H. NEMAZER, M. H. E. ELLİÁB, P. F. TALATI, CAWASSEE PALlanted“ & Co, P. B. PETIT & 1. 0,1 --

HONGKONG CHAMBER OF COMMERCE,

Hongkong, 8th January, 1909. BIRI beg to inform you that the British

have forwarded to the Chamber of Commerce a

PIANO

CO., LTD.

SHARE REPORT.

[36

Messrs. Erich Georg & Co. in their weekly ebare list, dated 6th February, state: During the wook under review, our market has ruled & little quieter, but a modorate to fair business has been put through in some stocks. Quotations haye not changed much, with the acle exception of hinn Sagers, which have experienced quite a little boom. The sterling demand rate of archange on London closes at 1s. 9. d.; and the rates on Shanghai aro Tls. 743 for a Bank T/T, and Tls. 75 for a three days sight Private three days sight Private Draft is T.75. Bar- silver in London is quoted 24d, and Console £83. The Bank of England's rate of dis count is 3 per cent, while the private market

Mopol, and Captain Whyte of The so they need not be read now. During that year regarded as establishing a monopoly; that they with the niterior object of taking advantage of Arms dealing in raw opium in this Colony Bill, while the rate in hanghai on this for

Br.

Colonial Secretary. BI-We have the honour to acknowledge the receipt of your letter of the 21st ultimo, in. which you are directed to inform me that His Excellency the Governor has received a die patch from his Majesty's Minister at Peking to the effect that he regards it as doubtful that the regulations, as they stand at present, can be appear to do little more than reproduce the rule pursed for the enforcement of the Opium Edict of September 20th 1906 and that he has General at Canton that, while the working of tho system would doubtless require to be care fully watched, it is inadvisable to take further notion pending reference to His Majesty's Government.

We have in our letter to Mr. Harry H. Fox,

Inasmuch as the Indian Opiam Trade has already been regulated by the Government of India and will under the conditions agreed upon by Great Britain and China, entirely cease in the course of ten years, there is absolutely no to reason whatever for the Chiness Government intorfers in any way with this trade by fasting vexations notifications to the public, as has been done lately by the Viceroy of the Two Kwange. Therefore, any interference on the part of the Chinese Gorornment with the Indian Opinm Trade onondt possibly be with any legitimate object. Provincial Authorities all over the Edist for the purpose of raising revenue, or apie are quite capable of using the Imperial the situation in order to be able to squeeze the populace. We have only in this regard to the event ustion be

can be carried into affect by unscrupulous authorities.

The Marchants in China have a very strong claim on the British Government to proof their trade against this interference by the duo to legitimate Bertish trade, but from the fact that the merchants buy direct from the Government of India at the Government's British Government to so that the Mar- the British opfum purchased from themlore outlet for the It is incumbent on the British Government,

iminary round in the donbles is also consequantly our business of making long accordingly instructed His Majesty's Cong Nanking in order to show how far this ten take such steps as may appear désirable rate of discount is 28 per cent.

ed to-day atch between Hongkong and Manila is down for to-day.

first polo team will be composed of Major

copy of their letter to you dated 9th ultimo, and of theirs to the Consul General at Canton dated 23rd September, with a request that my Com to assist them in combatting the aution now being taken by the Chinese Authorities in the Two Kwong which is calculated to hamper the trade in imported opium.

This letter has been considered by my Com expressed by the British Merchants in the two letters above referred to..

The letters in question have so dealt with the matter that little remains to be added.

My Committee consider that the Merchants have made out a clear case of breach of treaty

BANK SHARES-Hongkong and Shanghai Bank Shares have not maintained their position, selling at $897 and 2895, at which latter mis the market cloner steady, possibly with small buyers; the Loudon rate is £86: Shanghai have buyers at 851.

Jay, Commander Campbell, RN., Lient money was notscaros; it was satisfactory security/H.B.M.'s Consul Gezioral at Canton, of the 23rd the Chinese, not only the ordinary protection mitten who are entirely in ascord with the view quotes $920 with an exchange of 73; Nationals

7

B

to

dealing

the

MARINE INSURANCE SHARge.--Unions sold China Traders, and at 1830, and are drm, Cantons, are unchanged. Norththinus have sellers at Tls. 105, and Yaagizes buyers at have been dong and are wanted at 8330, while a

faw Chinas fetched $106.

that was lacking. Under those circumstances September last (copy of which was forwarded to okendon and Lieut. Greou. Captain Brierley which, however adverze, are nothing more than you in our letter of the 25th Septeraber and copy of which is hereunto snoxed) so fully I probably take part in some of the sub may be expected in a had year such as that we

bave ¿quent matches. The cricket team will include Captain Baird. Just passed through; we may congratulate dealt with the pernicious affect that these monthly sales in Calcutta, and it is the duty of!

ournoives on the figures now before us. Our Regulations will have, if brought into force saraings are higher than over, and upon the Haw Opium Trade, that no useful besides paying the usual dividend of eight per

object would be gained by recapitulating tham Captain Beasley, Colonel Chamier, Captain

save to saiu contend that it must be obvions befor" der allow thỏ opium trade to dopart vinces. It camot,' in tab opinhoh'vi my codi 1 **FIRE INSURANCE SHARES. HongKongs

dealers Brierley, Captain Greenaway, Livut. Bagnall, cent on an increased capital we are able to

enforced to limit the number of existing that if analysed in detail tos logical conclusion, Lieat, Greal, Lieut. Anderson, Lieut. Liop-place ten thousand dollara te Reserve Fund,

SHIPPING SHALES.-Hongkong, Canton and the Indian Government, to see in raw opium and to prevent new firms from Two Kwangs, and in particular the Regulations that Chi

really doing her share to eradicato

coming into existence do amount to a breach of meet heavy mann, Captain Dwyer, Lieut. Haughton. The Unfortunately we have had to deplete that fand the Regulations sought to be enforted in the entire India and from British merchantsmittee, be denied that the regulations now being

principally by $30,000,

Indo-Chinas are obtainable at $54 (preferred and the Treatica. They consequently view with Macage bave been done in a small way at 830. depreciation on our investments and possible that "after the ascertainment and registration that umpire will be Lieut. Betton Foster.

the Province in which of the number of opium shogs

Mr. Leach clearly shows that considerable uncasinoes the attitude taken up by deferred shares combined), but at $52) there are about 00 Idegen

·BOXIC accounts Lance-Corp. Andrews of The Buffs, who won

little doubtful.

ment is keeping well ahead His Majesty's Minister at Peking in this matter bayers, the rato in Shanghai having improved The latter of the Two Kwangs now in existence no "now

nment in the steps taken as they fear that this cannot but result in en- the Army quarter-mile championship in South we are

40; London rates are £3. 15s. for pre- of 10 great significance, but the opin shops doing business in the buying and

opium habit, although couraging the Provincial Officials to still farther ference, and El. 158. for deferred shares. China Africa, will igure on the track in the half and

depreciation on shares is severe. I feel myself selling of raw and prepared opium will be tead to the idea

e-eighth to one-tenth

and Manilas, And Douglases are unaltered in that in writing down such a stock as Cementi allowed to be established; "quarter mile events.

consumed in China agressirs ects against foreign trade.

My Committee therefore wish to join with the value, the former with sellers, and the latter with to 910 we are valuing them at panie prices, but that the primary intention is the creation of a

(as of native opium writers of the previous letters in their protest all buyers. Star Ferries are quite at last it is best to be on the safe side and to give no monopoly amongst a certain number of existing

as the total import against the enforcement of the regulations com- quotations, and so are Union Water-boats. opening for criticism It has been-no-year for opium shops, which shops will, as time goes on,

tivation of China selling stocks, nor do I think we should be doing decrease in number by either

net so manch the plained of, und trust that for full on Toy Shell Transportsave firmer, and there are buyers

of tè matter His Excellency will see his way at 488, the London rate being 498, sellers, as- justice to ourselves or to the stocks themselves

to stop opium to represent this in the proper quarters, with a by trying to realise on such a market. here is

the provincial nothing for it but to wait for better prices and for that better time which feel sure is not far off when capitalists will look back with astonishment to the quotation how with regret that they did current and

COMPANY MEETINGS HUMPHREY'S ESTATE AND FINANCE CÓ. ID.

The ordinary annual general meeting of shareholders in the Humphrey's Estate and Finance Co., Ld, was held at the registered

ar

(a) Retirement from business. (b) Seizure and closure by the Authorities of the shops for infringement or alleged infringe ment of the law, and

(e) The purchase by capitalists of the shops and of the licences: In the course of time, therefore, the sale of

rep British of the Chinese to stamp out British trade in o the whole the being 8 to 10 times no

The production i

he sayde

het

te

of the foreign drug, A opium is the thing to foreign trade, and the only smoking in China is by

REFINERIES--China Sugars have risen authorities to curtail the

duction of the view to a repeal of the now opium regulations. wired by Reator. native drug, otherwino, while in trade will In conclusion I would beg to refer to the rapidly in price, from 8112 up to $130 for dwindle, Chinese opiam will flourish, and derive Chairman's letter to you of 3rd September, cseh having been paid, while transactions for monopoly in raw opium which the Viceroy of considerably over the parity of cashratos. The offlees of the Company, Alexandra Büildings, at not take fuller advantage of such okenprav opium will be in the hands of a few, thus the benefit of the falling off of British-tule, 1907, when dealing with the attempted end of the year are reported at prices which are Nanking was then endeavouring to establish. In cause of this boom may be found in the various the opinion of my Committee the present rumours circulated about the earnings of last Kwang will love an equally restricting effect puitl. Resides, prospects up north are said to be position taken up by the Viceroy of the Two year, and the possibility of a dividend being upon the trade as that attempted by the Nank- better in avery way, and should the Japanese ing Authorities, and the arguments in the Diet pass the proposed law, which intends to de above letter apply therefore equally in the present away with the bounty of Yon 3 per picul paid Lon Formosa Sugar imported into Japan, the case, I bave ko...

position of our local Refinery cannot be but Mr. F. H. May, C.M.G.,

favourably influenced. Luzone remain weak at Colonial Secretary

MINING SHABES. Charbourages are an- changed. Raube sold at 89), $8 and 29, and, while a few shares could be had at latter figure, Chinese there are farther buyers at $87. Engineering and Mining Company's shares gold in Shanghai at Tls. 163.

Hall

ᄑ과

to

and this is surely what the Chinese provincial offline desire, and in this regard we would call attention to Sir Edward Grey's despatch to Bir Durand dated October 17th, 1906, where in Tfn the other hand, China was simply to "prevent the importation of foreign opium in order that individual Chinese might grow intire opium themselves and routise a higher price for it in China, then it would be "aseless for us to make sacrifices." "U" there, means Great Britain, or in other India and Great words, the Government Britain's merchants dealing in raw opiam.

We would wish that it should be pointed out to the British Government that it is s knopy fact that China, not only consumes "All shops in any ity, town or village which ten times as much more opium than is imported "sell the raw drug or prepared opiam must into thins but she also exports China grown "be severally inspected by the local Authori. opin to Hongkong, Saigon, Singapore, Bang-

fies who will draw up a list of them in the Ko and other places,

Me, Lesch. Councillor at the British Legation, "form of a register and fans to dech a licence "Which will constitate their permit to carry in his second Report on the Opinm Question "made no addition to the opium shops will "be allowed."

is We contend that the same must be said of Article 5 of the eleven articles for carrying out the Prohibition of Opium if it is brought into fores in China. It read as follows

"To closely inspect opium shops in order to "facilitate preventive measures. and which Article is further explained as follows:---

and favourable opportunities for investment. creating monopoly.

We cannot agree, therefore with the dictum noon on Saturday. Mr. H. Humphreys presided, Our godown business has anewered all our and there were also present, Dr. J. W. Noble, anticipations and has worked very satisfactorily, of His Majesty's Minister at Paking that he is Messrs. J. A. Jupp, H. A. W. Slade, J. W. C. particularly so for a first year's experiencs, doubtful if the Regulations, as they stand at There is nothing in the accounts that calls for present, can be regarded se establishing s Bonner (directors). E. Seth (secretary), J. M.Gspecial comment; some of the items are a little menopoly Wo contend that the Baghyun, if Machado, Ho Fook, J. M. Wong, W. E. Clarke, langes, suck for instance as interest paid and carried into stringent effent, will form the HI. Poroy Smith, D. K. Moss, W. Dowley, sandry debtore, but this is only the natural nucleus of a monopoly expressly contrary to the C. B. Buyers, H. Summers and Captain T P., result of a larger business and an increased Treaty of Nanking,

number of accounts. Altogether our position: now a very sound one, our loans are spread over The CHAIRMAN said Gentlemen,With wide area, all known losses are provided for, your permaission I will follow the usualenstom and and our investments written down to figures take the report and statement of accounts as road. well below their true value. As to the future I be optimistic, and I hope

one here listens to those Reference has been made in the report to the 500 many reasons

of the Colony being played opening of a new account "Typhoon and Floods who talk Insurance Fund" by the transfer to same of the out and having seen its best days, etc. amount previously appearing under the heading simple fact is that business here, as almost every- where else in the world, has suffered the resotion of "Fund for Equalization of Dividend" for consequent on a period of inflation and over- which we obtained the sanction of the Share trading, and as usual the weaker have gone to holders in October Inst and to the withdrawal the wall, Bat that is all, the resources and of $6,738.06 from this fand. On the other hand facilities of the part se a depot for the trade of Southern Bina are still untouched and un- during the year $4,746.12 has been added to the rivalled, and will be enormously increased when Insurance Reserve Fund which represents the once communication by rail is opened up with value of expired fire risks underwritten by our the great cities of the interior. In the mear- I feel sure, as I said before, that better days selves. Turning to the Accounts, your will see are at hand, and when the long lookedifor that the amount invested in property has

pessitait is heard no more in the land those boon increased by a sum of $79,992.25 being improvemant cornes and the voice of the amounts paid on account of the contrast for who have had faith in Hongkong and its the erection of a block of six three-storied build. fortunes will reap their roward. If there are

k, I shall be pleased to answer them. There being ne questions, the HAMMAN E prosented. in a portion of one of the three lots purchased

Me. WHITE seconded, and the motion was in June 1906. I might mention in regard to this parabase that ten per cent of the purchass carried unanimously.

Mr. MACHADO proposed the re-election of money ww paid in cash and ninety per cent Messrs. J. S. Van Enron, Chow Hing Kee U. Poi On and Dr. J. W. Noble vis-346,453.20 remained on mortgage free H. P. of inferent until 31st December, 1908, so to the consulting committee.

thue

stated

817. 6. A. M. WILLIAMS,

Becretary.

.HONGKONG Chamber of COMMERCE,

11th January, 1909. SIES. In reply to your letter of 9th Decem bor last, I am directed to anclose herewith for

DOCKS, WHABYES, GODOWNS, &c.-Hong- the information of yourselves and co-signatories ment dated 8th instant, in which tho Com dono at 892, 891 and $90, and a few shares seem copy of this Chamber's letter to the Govern- kong and Whampon Donk Shares have been mittee have supported your protest against the to be on offer at $91. Fenwicks, as well as Now action of the Chinese Authorities of the Two Amoy Docks, are unchanged, Shanghai Docka Kong in instituting regulations calculated to have improved in the north to Tls. 77 bayere. and Kowloon Wharves sold at $441

a

on this trade. Once the inspection has bout Since the end of November 1907 when the hamper the trade in imported opium-I am, de, ! Hongkow close with buyers at $455. Shanghai

It further adds :-

E. A. M. WILLIAMS,

Secretary.

"previous General Report on the Anti-Opium movement was writton, the two most noticeable features have been the continued Messrs. David Sassoon & Company, Limited. "'"interest and energy shown by the Central Government in the question, as compared with the growing apathy evinced by the provincial officials, and their lack of sustained

ings in Babinson Road, Kowloon, now nearing any questions any shareholder would wish to the trade will obviously be in the hands of a few out the Ediets, their actions are chiefy to

Hongkong, 15th January, 1909,

to 845, and

and Hongkow Wharves rose to Tia. 157, receded to Tis, 152, and have advanced again in Shang- hai to Tls. 155, at which figure, however, sellers prevail.

LANDS, HOTELS and BUILDINGS.--Hongkong SIR, Wo beg to acknowledge the receipt of your letter of the 11th instant, enclosing copy of Lands sold at $994 and have buyers now at $90. the hamber's letter to the Government dated 8th Kowloon Landa are on offer at $33. West instant and have duly siconlated same amongst Points and Hongkong Hotels are unchanged. the firms interested in the Opium Trade.

Humphreys Estates have changed hands at rates Kindly accept our best thanks for the support ranging between $9 and 894, closing steady at your Committee have given to our protest against latter rate. Shanghai Landa are firm at Tls, 120: COTTON MILLS.-Ewes are quoted in Shang-

completion. All the flats have already been let, also one of the shops. This block has been built proposed the adoption of the report and accounts British Treaty of Nanking of 1842 to Article 10 issped by theentral Government. We entirely the action of the hinese Authorities in institut-

timt the Company will commence paying Mr. GAZDAR seconded, and the motion was

interest at the rate of six per cent per aunam on this sum ss from the first of this year. It was the original intention of your directors to build on a larger scale than they bare the ground thus accrued but the doue on lack of deraand for all kinds of property to which

to.

agret A. O. D. Gourdin and W. H. Potts were re-appointed auditors on the motion of Dr. Nos, seconded by Mr. CuOW HING KEE

The CHAIRMAN-That is all the business gentlemen, I am much obliged to you for your attendance. Dividend warrants are ready now,

I made reference at our last annual inseting has How To B BEAUTIFUL-Keep your com- again been a conspicuous feature of the year under review and in consequence the prosposed building programme was considerably curtailed. Our liabilities under the heading of gandry Creditors" are larger by $85,768.05 mainly in

plation, Mrs. Ellen's Crême Charmante, Lait

Hor Charmant and Special Skin Tonic and Pouder Charmant will enable you to do it. lifetime, A. B. Watson & Co. Ltd. Bole Agenta. Specialities for the Skin are the study of a

[1262

to

onr

sales in Shanghai, while Laon Kang Mows have found buyers in the ports at Tis. 80. Sceychees have dropped to sellers at Tla, 2771 Hongkong Cottons are offering at #10, bat at $9 buyers might be found

regulations calousted to hamper our trade. hai at Tie. 34. Internatiousls are up to The 15

"Shops which from time to time drop out of "the business must surrender their Boendes "for cancellation. The licence must not be "kept under penalty or a heavy fine"." Surely this enactment would create a monopolytart to eradicate the evil".

As the provincial officials are expected to and be contrary to Treaty. In course of time

carry Chinese merchants.

We would refer you to Article 5 of the He considered, and not the ineffective Edicts of the same treaty, and to Article 14 of the fail to see why His Britannic Majesty's Minister

We are,

DAVID BASSOON & Co., Ltd, September 20th 1906, which is merely an French Treaty of Tientsin of 1858, which for should lay stress on the Opium Ediet of convenience we give in fall:-

E. HELLIM, Manager. Article V. of the British Treaty of Nanking Ediot or wish expressed by the Government

China, of

and has never,

The Secretary, knowledge, becoma a Treaty between the

Hongkong Chamber of Commerce. 1842-

The Government of Chins having com-

hinese Government and the British Govern "pelled the British Merchants trading at ment. We would point out that Treaties do

COLONIAL SECRETARY'S OFFICE, Cantor to deal exclusively with certain exist between, England and Chins regarding

15th January, 1909. "Chinese Morabants called Hong Merchants the former's trade and commerce, and we submit

818-1 am directed to acknowledge the (or co-Hong) who had been licensed by the that so long as those Treaties remain un- "Chinesa Government for this purpose, at repesied, Briti

the

British Merchants trading in the Far receipt of your letter of the 8th instant con Emperor of China agrees to abolish that gr, and, as we have already pointed out, par- cerning the action now being taken by the ownership at 89.80 and $99 and close with sellers "practice in future at all porte where British sing their merchandise direct from the Chinese Authorities in the Two Kwang Pro-3251, are quieter and quoted 325. Other stocks "Merchants may reside, and to permit them British Government, should have the protection vinces, which is calculated to hamper the trade under this heading aro mokanged and without

in imported opium, and to inform you that is any sales. to marry on their mercantile transactions with whatever persons they please, and His forded then by those Treaties.

result of the two recoat attempts by the Excellency the Governor has transmitted a copy "Imperial Majesty farther agrees to pay to Viceroy of Nanking and by the Viceroy of the of your letter to ir Johu Jordan and that this the British Government the sum of three Two Kwauge, to interfere with legitimate trade atter has for some time past been engaging

F. H. MAY, His Excellency's serions attention-I am, &o.

Colonial Souretary

"millions of dollars, on account of debta

"te British subjects by some of the said Hong have on each occasion caused a heavy drop in prices, and a falling off in deliveries, reuniting "Merchants or co-Hong, who have become in heavy loss to the British Merchants and s "insolvent and who one very large sums

"money to subjects of Her Britani plate sorganisation of the trade in Raw

Opium.

"Majosty."

The Secretary,"

Hongkong Chamber of Commetto,

SUNDRY MANUFACTURING COMPANIES China Light and Powers have been fixed at 242. Dairy Farms sold at 814, but there are further sellers. Green Island Cement Shares changed

at latter rate. Ropes, after further sales at

MISCELLANEOUS-China-Borneos have been done at $113. Ching Providents sold in larger. lots at $92 and $10, closing with sellers at the higher and with buyers at the lower Egare.. Langkate have buyers at. Tla 855.8. Watsons sold at $91. In other stocks under this heading no transactions have been reported, nor is there any change in rates to chronicle.