Page
NOTICES TO CONSIGNEES
NORDDEUTSCHER LLOYD, BREMEN, IMPERIAL GERMAN MAIL LINE.
NOTICE TO CONSIGNEES.
THE Steamship
THE
*COBLENZ"
haring arrived, Consignees of Cargo are hereby informed that their Goods, with the exception of Opium, Treasure, and Valuables, are being landed and stored at their risk into the hazardous andjor extra hazardons Godowna, of the Hongkong and Kowloon Wharf and Godown Company, Limited, Kowloon, and West Point Gudowne, whence delivery may be Obtained.
No Claims will be admitted after the Goods bavo left, the Godowns, and all goods remaining. andelivered after the 15th inst. will be subject to rent...
All broken, shafeil, and damaged. Goods aro to be left in the Godowns, where they will bo
the 15th insi, at 9.30 AM, examined
►
All Claims must reach us bofore the 20th inst, or they will not be recognized.
No Fire Insurance will be effected. Hills of Lading will be countersigned by the Undersigned.
NORDDEUTSCHER LLOYD,
MELCHERS & Co.,
General Agents
Hongkong, 8th March, 1914.
[5
NORDDEUTSCHER LEOYD, BREMEN IMPERIAL GERMAN MAIL LINE.
NOTICE TO CONSIGNEES,
HE Steamship
THE
*LUETZOW,"
having arrived, Consignoos of Cargo are hereby informed that thoir Goods, with the exception of Opium, Tressure and Valuables, are being landod and stored at their risk into the hazard ous and/or extra hazardous Godowns of the Hongkong and Kowloon Wharf and Godown Company, Ltd., Kowloon, and West Point Godowns, whence delivery may be obtained.
No Claims will be admitted after the Goods have loft the Godowns, and all goods remaining undelivered after the 16th inst, will be subject. to rent.
All broken, chafed, and damaged goods are fo be left in thio Godowns, where they will be ex-
amined on the 16th inst, at 930A.M.
All Claims must reach us before the 20th
Inst, or they will not bu recognized.
No Fire Insurance will be effooted,
Bills of Lading will be countersigned by the
Undersigned.
This Steamor brings Cargo
Ex 8.5 BOLO" from Venice Ex 5.8. KONIG” from Mombassa
NORDDEUTSCHFİR LLOYD,
MELCHERS & Co..
Geneall Agents
Hongkong, 9th March, 1911,
NOTICE TO CONSIGNEES. ·
FROM EUROPE.
HE “HANBA" Steamship
RHEINFELS,"
Captain Eelbo, having arrived, Consignees of Cargo are hereby informed that their goods are being landed and placed at their risk. in the hazardous and/or extra-hazardens Go- downs of the Hongkong and Kowloon Whart and Godown Company, Limited, whence delivery may be obtained against Bills-of- Lading countersigned by the Undersigned.
Optional Cargo will be carried on unless notice to the contrary-be given TO-DAY.
All Clains must be presented within ten days of the steamer's arrival here, after which date they cannot be recognised.
No Claims will be admitted after the Goods have left the Godowns, and all Goode remaining undelivered after the 16th inst will be subject
to rent.
All broken, shafed, and damaged Goods must be left in the Godowns, where they will be examined on the 15th inst, at 3 P.M.
No Fire Insurance will be effected by us in.
say case, whatever.
This Steamer brings on Cargo:
Ex 8. Michel" from Bordeaux.
Ex 8.8. "Göteborg "from Göteborg.
Ex ss. "Carl" from Stettin.
Ex.e." Jarl" from Ahus.
HAMBURG-AMERIKA LINIE,
Hongkong Office
Hongkong, 10th March, 1911.
[432
SOCIETA ANONIMA NAZIONALE DI
SERVIZI MARITTIMI
SEDE IN RONA.
NOTICE TO CONSIGNEES.
FROM BOMBAY AND SINGAPORE. THE Bisamuhip
"CAPRI,"
having arrived from the above ports, Consignees of cargo by kur are hereby informed that their Goods are being landed at their risk into the hazardous and/or extra basurdons Gedowas of the Hongkong and Kowloon Wharf and Godown Company, Ltd., Kowloon, whence delivery miny be obtained. Perishable Goods to be taken de- livery of immediately,
t
All Claims must be sent to the Office of the undersigned before Noor on the 19th inst.,
or they will not be recognised.
All Claims must be presented within ten days of the steamer's arrival hero, after which date they cannot be recognised.
No Claims will be admitted after the Goods have left the Godowns, and all Coode remaining! undelivered after the 16th inst will be subject
to rent.
All broken, chafed, and damaged goods mast be left in the godowns, where they will be examined on the 16th instant, at 9.30 ..
No Fire Lasurance has been effected.
CARLOWITZ & Co.,
[4
Agents.
Hongkong, 10th March, 1911
報新外中淄
HƯNG NGÔI AN PO Chinese Daily Press), 20
PUBLISHED DAILY,"
In the oldest and still immeasurably the bes
Advertising medium among the Native Community.
Established for over FIFTY YEARS Gironiates largely throughout Southern Chins Indo-China, etc.
Terms for Advertising (Translation free) oso be obtained at the Office, 10a, Des Your Road Central, Hongkong 131, Elest Street, London, or from the different; Agente.
Documents translated from or into Classical or Colloquial Chinese,
utler Falmer & C
The Wine Merchany of the East
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SOLE AGENTS IN HONGKONG.
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and from ALL Wina MarchanTS.
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MARTIN'S
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[56
THE HONGKONG DAILY PRESS, TUESDAY, MARCH 14TH, 1911
1.
BEWARE OF IMPURE WATER. "PRANA" Sparklet Syphons enable you to produce the purest, freshest Soda Water obtainable.
SAFER AND CHEAPER
- SOLD BY ALL STORES.
SYPHONS
BULBS
..at $2.00 each. ....at 0.90 par box. WHOLESALE BUYERS", Can obtain at London price from
KWANG SANG HONG, LTD,, WHOLESALE AGENTS,
246 & 248, Des Voeux Rd. Cont., HONGKONG.
行發總
司公限有行生廣港香
[386
THE CATHAY TRUST, LTD, SHANGHAI,
(Continued from page 5.)
At the same time the Trust had bought shares for cash and sold some forward, to the value of about five lacs.
2. At the time the Stock Exchange cheque was handed over, the Trust had nearly 17 laos in the Bank, and also possessed 34,60 Ziangbo
shares.
3. The total value, at making up prices of the June settloraent, of the shares held by the Trust against tho 173 hes referred to above, was about thirty-three lacs: the same shares would, on the 3rd altimo, have been worth about 17 Ines according to the slip rates of that day.
4. The loan has now been reduced to approx mately Tis, 1.264,00, against this the Trust holds
shares which on the 16th ́altime were valued at
nearly 3 Inos, and sundry guarantees to talling ton lacs; against these guarantees, so enrity for nearly one loo has been put up, whist one guarantor has hypothecated the margin on Blean to him as further security against his guarantee, thus making the total security in hand gainst the guarantore a figure of rather more than 27 lacs.
į
his suggestion that the brokers approseled the Company. In this connection it was important to consider the saggestion that the most profit- able business of the Company consisted in the parolase of shares for caeli, and the sale of thom for future delivery, and vica corsa, as being the Mr. Macleod weat on to say that he had laid ssfost method of earning interest good rates. the rant of his investigations before the shareholder in the company. Mr. Wadman auditors, and also before Mr. Wadman, a large bad previously expressed himself vory strongly on the non dress of the loan having been that he might, had he been one of the directors, made, although he admitted at the time have done what they did. It was bullent for the present purpose to say that both the auditors and Mr. Wadman agreed with him that the in. terests of the directors, their views on the position, and the general ciroumstances surrounding those. did not afford any ground for a claim that the directors or any of them did not truly and rea scrably believe that they were acting in the beat interest of the corapany. (Loud applause.) There was another question he had to deal with, and that way as to whether the company could enim from any director an account of profits to him arising out of the loan being made. He had come to the senciasion that there was only
one claim, and it was not a very seriona watter considering wint Mr. Wattie, Mr. Clayton and At the time the loan was made, we are of Mr. Davidson were going to offer to do for the opinion that it was most important tha Trust should do everything possible to conservs the company. If any dirao or did make a profit value of the securities held, and we therefore when acting for the company he must account think that the Board may have had a certain for it, however fair or proper his action may amount of justification for making the Stock Juare heen. Messrs. Wattie & Co, had an account Exchange kan. We should point out it is with Mr. Michael, one of the brokers who re- obvious the numerons loans made on June 21quired assistance, the net result of which was that ho had to deliver them shares and they had to had been arranged previously.
We cannot now determine what would have pay a small sam. The states at the making up been the result had the June settlement fallen price for the June settlement were worth Tls. through, but we are convinced such an orout 53,00, and on their account with Michael they must bare hod a very bad effect, not only on the bad to pay him Tis. 7,000. The result there. market for shares, but also on the financial posi.fore was that they had fo recoire about Tls. tion of most of the clients of the Trust, At6,000. On this Mr Clayton and Mr. Wattic the time of the settlement the Ching Yue quest on wes whether they had to account to the Had each one-third interest, and therefore the failure was not, so far as we know, anticipated, and in our judguiout this fallare has hoor, in a Cupany for something like Tls. 15,000 each great measure, responsible for the decline in value of securities since June Inst..
Wetore, dear Sir,
11
Yours faithfully, (Sgd.) F.-N. MATTHEWS">
G. H. & N. THOMSON. Next he came to the question of law. The first -point he proposed to dont with was whether the Company had a claim for damages respect of any loss sustained. The loan was not ultra vires. The Company was advised at the time by Mr. Jones, and he believed, rightly advised, that they had power to make this loan. By the Articles of Association, which wore in the usual form, the Directors are not liable for any base unless it happened from their own wilful act or dofanit. For the Company to sacred in- & claim it would be necessary to show that the Director or Direttore snel had comitted breach of trust in doing something deliberately which they could not truly and reasonably believe was in the best inter et of the Company. Mere ferror of judgmenty however serious, would not be sufficient,, The only suggestions in support of such a case were that it was to the interest of the Directors then
a
a
Michael was one of the brokers who could not put his settlement through without help: that was to say, if the loan had not been made the shares would not have been delivered to Wattie & Co., and they would not have made that profit. He was satisfied that the profits they received from Mr. Michael werd aufh- olently closely connected with the making of the loan to rouder the responsible to account for those profits. As a matter of frol they were offering a great deal more. With regard to the other orals in which the directors wire. interested he would read the text of his report, which was follows:---
The other accounts I have found were with brokers other than those who required help, and the only important ones were with Mr. Pirie and
osers. Benjamin & Potts. (He took it upon himself to disclose the whole of this and he did not think Messrs. Henjamin & Ports would have the slightest objection, because it was to their greit. The company's auditors have been into the position at that time of Messrs. Bumin & Petts and find it so that noither they nor I can say that any payment made by Mesara, Benjamin & Patts to a client at
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WHAT ARE THESE BONDS?
They are high-alase and absolutely safe ssouitios, payable to bearer, issued by the various Governments and Municipalities of Eproge; they are redeemable at periodical drawings, either with Cash Premiums varying from £40 to £40,000, or at the very least, at their fall nominal value.
EASY PAYMENTS.
We sell these bonils singly or in combinations of the most advantageous ones, payable by convenient Monthly Instalments ranging from £1 to £20.
245)
solves to make this loan, and that it was sathe settlement was a natural and probable comm
in
quence of the loan having been made. If any a consequence it is payment work such
or to also quite impossible to say which
Pirio was admittedly what extent. Mr.
8. stronger position tbau
Mesere, & Potts. After consider Banjania ingeall the information I have been able to cellest and comparing the result with the facts reported in the cases decided on the point, I consider that the principle cannot be applied, because I think. the profits" here are too re- motely connected with the loan, there are a number of contingencies on which the connec tion between the icon and the payment of these "probis " depends; the cases extend the princi-between ple farther than any others I can find, but none of the cases is an authority for applying it hero if indeed it could be applied. Both on the facts and of the law I am of opialon that thers is no claim beyond that in respect of ir. Michael's account.
We are the largest Dealors in the world. Write for Handbook, sput post freo.
MELVILLE, GLYN & Co., Bankers,
3. Rue is Is Bourse, Paris (France).
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fore lock silvat. If you are suffering fram ónything which roba you of your healthy alertness attend to the troublo at once and dont rost until a cure is of- incted, liyou suspect thatdyspepsia or any disordered state of the stomach, liver, er bowels, is supping your vitality, It is partala fħat wikliout dolay, you should
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the first place, it provided a practical means! of settling the while of this question the company and the brokers and other He was
auxious, $4 far as he could, to protect the company, and to place it in a proper position for several reasons. Mr. Wattie's interest in the company was con- He had also interested in the siderablo. company a great many of his friends and others, and besides this there were other concerns which held shares in the company whose management and interests were in the hands of Wattie & Co., and as, Mr. Wattie put it, he did not want this company to lose in any way
SUPPLIED TO THE HOUSE OF LORDS AND HOUSE OF COMMONS
THORNE'S
OLD VAT
the
--RONG WAY WAL, CANTER MY VRE, LATZ Wərsən, kan de k
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clearly not to the interest of the Company that they could not be faken, to have reasonably thought that it was. It appeared that as Dir ector, Father Castrilly, sustained a consider able loss on the, June Settlement, and it could not be said that it to his interest, that loan should ho made. He would have been better off if the settlement had not gone through. Mr. Macray, he understood, had no Jane Settlement and was not in Shanghai at the time, nor was he present at the meeting of the Directors at which it was decided to make the loan, so that no question could arise so far as he was concerned. Mr. Marshall was not in Shanghai at present, but he (Mr. Macleod) understood from a reliable soures what his position was. He had interviewed Mossss, Landale, MoMichael, and Wattie separately, He found that Messrs. Landale, Marshall and MoMichael made prouts in shares over the Jane settlement amounting in all to something under Ts. 50,000. The shareholders would be struck Continning, Mr. Macleod said that there were by the fact that there had been a great deal ons cr two fets he would like to mention in of exaggeration about these gentlemen's profits. addition to what he had already said. On fact Mosers. Wattie & Co. had large nicorn's for was this, that the report they had just now the Jane Settlement; they had to receive large heard had been in their behalf and did not, of some for sales of a large number of Anglo-Java course, include in any way all that might be said perfectly understandable feeling, as Ee was anxious that no one could say that shares belonging to sud Laid for by Mesare: from the directors' point of view. They would
he bad in any way made a mess of it. Wattie & Co, Marrs. Wattie and Clayton quite understand that, and he thought that he
The effect of There was just one thing more. had a one-third share each in these. If they find the right to say it becauso, although he was
the proposal would be that the company would had not been paid they would have had a great not in any way uoting for them, and without
receive shares of the present market value to the many shares instead, and the profits made by going into any details be thought it only fair
amount outstanding of this loan. The company them must depend entirely upon what the shares to say that there was a great deal more than he
would also have whatever was paid under the were taken to be worth. The making up prica bad told them which was in their favour.
guarantees of the brukers. in connection with "of them shares at the Juno settlement was EX- In saying that he was speaking of all actly double the price at which they were quoted the directors. Now with regard especially, this he thought it right and fair to tell them now, and accordingly. Mr. Wattie's profits to Wattie & Co, they offered to this that the preceding afternoon there had been might be stated as awonating anything from! Company, before this loan was made, all the a meeting botsoon the directors and one to three Ince, and Mr. Clayton's were at least shares in the Ziangbe Company, and there was brokers. The latter were told, he thought a certain point, everything as large. He had seen Mr. Landale's, Mr. no doubt whatever that Wattie & Co. could if fully told to Wattie's and Mr. McMichael's accounts with they had liked have kept a good number of that had been told them at this meeting, the brokera for the Jaue settlement, and also these stures for themselves. They did not, and It was then put to them, they were told what and he had asked them questions on all points and 34,603 Zingbe shares. (Applause.) He lines, details of which he need not go into, be- I that occurred to him as suggesting any evidence thought that he ought to say that in the inter cause they were matters of practice and business. in support of a claim. It appeared that it was esle of Wattle & Co. Then they came to the They met the directors as far as they could and generally known among the Directors them other transaction, the loan to the Stock Ex- agreed to come to some satisfactory arrange which there
loss.ment for both sides. There was a general er selves that they had all dealt in shares to some change, over oxtont for the Jans settlement, though exactly The directors at their last meeting said pression of opinion that there should be an to what extent was not known. The more that they would like to know whether understanding between both sides that they would be able to work out some method or were going to be accused every foot the Directors were promoting their own they interests would be insufficient to establish time there was a loan of all sorts of course which should clear up all those questions, a breach of trust against them. Whe-heinous offences, because if they were they did That was all he had to say, but he hoped it ther they were in fact promoting their own not see how they could enter upon any transas- would be of some service to them. (Loud interests especially depended on what was the tion, orou if it was going to be profitable, in applause) position of the brokers with whom they had which there was any risk. That was a fact which Bccounts. The important question was what the they ought to consider. He might mention that Directors thought was the position of these at that direstors meeting it was stated that brokers. It had been suggested that the brokers there was some business under the consideration were insolvent, that the loan was unsafe und that of the Board at the present tine. Ele would the Directors must have known this. To this now deal with the offer made by Wattie & Co, by acclamation. the Directora all replied that so far from con- and he wanted them to understand that it was sidering the brokers insolvent they thought that made by Mr. Wattie, Mr. Clayton and Mr. they were quite in a position to meet their guar Davidson, and by no one eles. He thought that it antees within a short time and that the transuo was in the interests of these three gentlemon and After the mosting at the other directors on the Board that they should tion was perfectly safe. which it was decided to make the loan, two understand this clearly. The offer was this: The of the Directors consulted Mr. Hunter, present position of this loan, they had heard from of the Hongkong Bank, who told them that he the auditors' report, was that there was Tls; thought all guarantors, with a few exceptions 1,254,000 outstanding,and that the Company held were good for the amounts opposite their names shares of about three and a half lakhs and certain and he had since told the speaker that, as far as guarantees and securities for the guarantees of anyone could tell, they were then good for the two and a half lathe, The position, roughly, was Emounts they had guaranteed The next arguthis: the amount of the loan dae was twelve and ment against the Directors was that the real a half lake and the Company held shares to the interest of the Company was not to make this present market value of six lakhs, that was to say, Toan, but that there should be a general collapse there was a balance to make up of sir and a balf of the share market, so that it would be able to lakhs. Against that there were guarantees of buy shares at very low prices. The Directors the brokers or come part of those guarantees answer to this was that it was very important ställ, to be fafilled Messrs. Wattie Clay- that a satisfactory market for dealing in ton and Davidson now offered to put shares should be maintained that the up to the Company shares of the present market Company held ahures as securities for loans value of that balance, roughly, Tls. 650,000, to be which it was important to be able to realize hold by the Company sa security for the balance. with ease; that the Company's business lay of this loan unpaid out these other securities obiefly in advansing against shares, and that fadading the brokers guarantees, Loud without a satisfactory market sucks a business Appláneo) | could not profitably be done, and that a goners He thought it right that it should be said, collapse of the market was bound to be hattfal sod it must be quite clear to them, that the to the Company. Mr. Hunter held the same offer was made before there was any real Press views, and had no hesitation in saying that he suggestion that anyone was liable to
thought the Directors had done a perfectly anything of the kind, Mr. Wattie had explain- ressonable and sound thing, and that it was ated his reasons for making this offer. In
their kink pass-boo-5, and other docutionts, the Censpray, had made a profit of T1s. 960,010 was going to bo dono, and they agreed to certain SCOTCH WHISKY.
GRIMAULT'S
SYRUP
OF
HYPOPHOSPHITE OF LIME
FOR
STUBBORN COUGHS
BRONCHITIS
WEAK LUNGS
CATARRH
CONSUMPTION
ON SALE.
TABLES
FOR 1911. Shows the dates of departure of the Minds to Europe and America, and the dates of their expected arrival at their destinations, as well as the dates of return Mails.
Mouated on Card
30 Cents Ou Puper On Sale at the Hongkong Daily Hogaong, 6th February, 1911.
Office
די
20
Was
do
After this raport Mr. Wadman proposed and Mr. W. S. Jackson seconded a resolution co- capting the offer, and a farther resolution ex pressing the confidence of the shareholders in the Dirostora. Both resolutions were carried
HONOUR FOR PROFESSOR GILE.
On the motion of M. Chavannes, the eminent French sinologist, the Académie des Inscrip tions et Belles Lettres on the 10th ult, decided to award the Stanielas Julien prize for the best work on China to Dr. H. A. Giles, Professor of Chinese in the University of Cambridge, for the second edition of his Chinese-Engl Dictionary,
ON SALE.
A TABLE OF THE RATES OF EXCHANGE AT
HONGKONG
For Demand Drafts on London on the day of or proceeding the departure of the English
Meile; also Table of the Yearly Approximate Averagas for 36 years
FROM 1874 TO 1909.
Prive $2 Cash. On sale at the Dar PRESS* Oce, or Local Booksellers.
GOLS AUS KTÜ EDƏ
HONG KONG, CHINA & MANILLAS A. S. WATSON & Coura
447
AITU BISHI GOSHI KWAISHA.
M
(MITSU BISHI 00.) COAL DEPARTMENT:
SOLE PROPRIETORS of TAKASIMA OCHI, MUTABE, HOJO, KANADA, NAMAZUTA SAFO, SHINNEW and KAMIYAMADA, Colliorice SOLE AGENTS FOR KISHIDAKE Coals.
HEAD OFFICE-MARUNOUCHI, TOKYO.
BRANCH OFFICES-NAGASAKI, MOJI, KARATSU, WAKAMATSU, KOBE, OSAKA SHANGHAI, HONGKONG, HANKOW.
Cable addresses for abova, "IWASAKI” Codes, AI, ABC 5th Ed., Western Union
AGENCIES MA
TOKOHAMA.: M. ABADA, Esq. CHINKLANG : Mesure, Graxing & Co.
·MANILA |--Mesara, MACONDRAY & Üs. SINGAPORE: Messrs. BORNEO & Co., Ltd.
For Partionlars, apply toda
H. OISHI, Manager,
No. 2, Fedder Street, Hongkong..
1574
Hongkong, 14th February, 1911.
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