1912-08-06 — Page 3

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HOME AND CHINA

AFFAIRS

[From Our Own CORRESPONDENT.]

LONDON, July 10th.

CATTLE DISEASE.

that the Emerald Isle produced the germe

THE HONGKONG DAILY PRESS,

the Pope. The reports also express the fear that a very large number of the younger women have joined communities from caprice, or vowa other than those arising from a consciousness of fitness for a religious vecation.

If that sort of thing continues there is a hot time shend, for all the Liberals will have to stick close to their duties and the Conservatives will be for ever on the pounce for a snap division that will

defeat the Government.

TUESDAY, AUGUST 6cm. 1912.

PREFERENTIAL RIGHTS TO

DIVIDENDS.

WILL V. UNITED LANOKAT PLANTATIONS

COMPANY (LIMITED).

would justify the Court in coming to such conclusion, in matters in which e resolution was silent the articles would prevail, but when there was a re- solution which, according to its true con- straction, contemplated the payment of a fixed dividend and a fixed dividend only to the Preference shareholders, that

Before the Master of the Rolls, Lord

was an exclusion of Article 110 in the Justice Farwell, and Lord Justice Ken-sense in which that article was relied on Anedy in the Court of Appeal on the 1st ult. by the respondent.

an appeal was heard by the defendants from a decision of Mr. Justice Joyce,

AN ARMY OFFICER'S SARCASM. It was a sombre debate on the Army vote, relieved only by one incident, Unionist officer was impelled to make some insinuations about Lord Tulli bardine's Highland Yeonianty. Accord ing to him, when the gallant ghillies wish to get across country really fast they get down and push the horses. In conse-

quence of this habit the War Office has not provided them with bayonets, since they might use the weapon to expedite, the progress of the steeds picturesque hit of exaggeration that made the House

roar.

THE HEALTH OF THE KAISERIN.

THE PRACTICE OF THE STOCK EXCHANGE,

Mr. Younger had, urged that the truc way of construing this resolution was that first the Preference shareholders got 10 per cont, then the Ordinary share- bolders got 10 per cent, and then the sur- plus profits were to be equally divided among all the shareholders of the com- pany.

His Lordship bad already stated that the contention of the respondent-was-400- The action was brought by the plaintiff, which had never before been raised in suing on behalf of himself and all other argument, but in the more modern com Preference shareholders of the company,pany precedents, in order to avoid doubt claiming a declaration that a resolution negative words were inserted. No doubt of the company purporting to have been that was desirable, and if it had been passed and confirmed as a special resolu- adopted in the present case, the Court lion at meetings held on June 23rd, 1009, would have been deprived of the duty of and duly 8th, 1000, was invalid, illegal, listening to the arguments addressed to or ineffectual, so far at any rate as the

them. On the other hand, clear words same purported to affect the rights and were adopted giving the Preference share- interests attaching to the Preference holders further rights when that was shares of the company, and that the Pro- desired. ference shares entitled to rank for divi- dend pari pass with the Ordinary shares tomatically close the door, but this new Reports from Berlin confirm the ac of the company as against any profits of Brunton system improves on that to the counts that have been in circulation here the company available for distribution as to the indifferent health of the Kai-ar dividend after providing for a cumula tive preferential dividend of 10 per cent. extent that after a collision the indicator on the bridge will show exactly what serin. It seems that she has suffered with on the Freference shares and a dividend compartments are Booded and then the her heart for some years but now alarm captain can reopen all the doors of coming symptoms have developed and the partinents not affected, leaving the essen- physicians have ordered her to abstain tial deurs still closed. Thus knowing from any exortion or strain that can possubject to any priorities that may be just where the trouble is, the crew canaibly be avoided. Consequently nothing

more than strictly personal correspond-distribution .. ence will be allowed to reach ber for the present and all but one or two public en- gagements have been cancelled. The an

On July 13th, 1891, at an extraordinary nouncement is made, however, that there

general meeting of the company,resolu- is no need for immediate anxiety, a com- tions were passed providing (1) That the plete rest and quiet are expected to re-capital of the company should be increas-meats allowing the appeal.

ed to £450,000 by the creation of 50,000 new shares of £1 each; (2) that the new sult in a material improvement and a cruise aboard the Imperial yacht a little shares be called Preference shares, and that the holders thereof be entitled to a later is expected to have wonderful re-

cumulative preferential dividend at the rate of 10 per cent. per annum on the We have been asked whether it is con- amount for the time being paid up on sach shares; and that such Preference sidered respectful to spoak of the shares rank, hath as regards capital and Emperor of Japan as the Mikado. Wo dividend, in priority to the other shares.

may beat answer the question, we think, were issued. Subsequently 20,000 Preference shares

The resolution passed aty quoting the following somewhat

July 9th, 1909, approved of new articles sketch of the late Emperor Mutsuhito in of association of the company.

hisMakers of Japan":-

It

THE SAFETY OF BITS' PASSENGERS. The outbreak of foot and mouth disease

The experts of tàn Board of Trade is the latest anxiety of poor John Bull. He already had labour agitators, being still of the mind that the safety of suffragettes and State insurance troubles, passengers at sea rests more with the but the disease among the cattle has come bulkheads and wireless apparatus than on the top of all his wet summer worries with a full complement of boats for all, When the it is interesting to record an advance in as about the last straw." #inouncement was made in the House of the construction of the water-tight hilk- A now typo has just been Commons that the exhibition of hoofed head doors. " stock had been prohibited at the Royal shown in London which operates by hydraulic pressure. The captain on the Show in Yorkshire, something like a bridge can, by pressing a lover, close all sensation was felt all over the country. the doors at once and an indicator by To run the show with the two thousand his side shows when the operation is com- best exhibits absent is pretty much like

pletė. A rash of water into a compart. Hamlet with the Prince of Itenmark leftment will, as in many other types, au-

The disease in said to have been unt. traced to Dublin and in spite of officia! assurances there is an uneasy feeling that bad proper precautions heen taken it would not have spread to several places in the north of England. The Irishmen, as usual, are restive under the suggestion of the outbreak, and they are trying to

proceed to shore up the bulkheads. nake out that the trouble was really may be added that this Brunton door will introduced to their green iste by some not close on anybody standing in the offending beast from the English side of door-way, and while the captain on the the water. But as two cases in England bridge cannet re-open the door of a flooded came from different parts of Ireland there compartment a person inside or outside would seem to be an end of that plea. Ait can do so. But he cannot leave it possible explanation of the outbreak is that the disease was conveyed to Ireland open, because immediately he takes his Men hand off the lever it closes itself. through the medium of hides or animal

coal working the

keep the Inay foodstuffs from the Continent, where it is banker doors at any state of openness, seriously prevalent to-day. As there is

partial or complete. So far as I can no difficulty in diagnosing it and there

gather from expert opinions tho seerns to be no doubt that it existed in mechanism is both simple and strong and the vicinity of Dublin for a fortnight eminently suited for use in rough soa con- before becoming a matter of official pre- |ditions. The originators claim that the cautions, it indicates a state of things initial cost and the cost of upkeep åre that will need a lot of explanation in the lower than other systems. By using a House. At first it was thought that the fusible plug that the heat can melt, the price of ment would be seriously affected, system can also be adapted for isolating and this may yet prove to be the case, a compartment where fire has broken out, but for the present the difficulty has been that it can be adopted for fire-proof partly met by the sending of Liverpool | buildings as well as ships. In that case, on an alarm of fire, all doors could be butchers to Ireland to slaughter and dress the cattle which under the present regula-closed it out from a central position tions cannot be moved alive. In certain specified areas, around Liverpool, Man, chester and other affected districts, moy- ing cattle has been prohibited, so that no cattle can be taken into, out ef, along, evor of across any road in the prescribed districts till the regulation is removed on the stamping out of the disease. But special arrangements are now being made to slaughter fut cattle at the foreign animals' wharves at Glasgow, Birkenhead and Bristol, to supply the requirements of the markets as far as possible.

♫ LECTURE ON SARAWAK.

Reopening them would rovoal the seat of the Gre, for not only would the door of the affected compartment remain closed but the indicator would show it.

THE FAMOUS BOULTER'S LOOK.

Another instance of the mechanical aids

that have come to the service of our

watermen is now to be seen on the Thames

suits.

THE DOOK STRIKE-

The dock strike, besides inflicting starvation on thousands of the poor along the Thames-side, is making things hard for the trading community generally

of 10 per cent. on the Ordinary shares.

Article 115 of the original articles of association of the company provided that, given upon the issue of any new shares, the profits of the company available for shall be distributed as dividend among the members in accord- ance with the amounts paid on the shares held by them respectively."

His Lordship thought that that would be an unjust position to arrive at, having regard to the terms of the resol tion. The Court could not ignoro altoge ther the practice of the Stock Exchange, and it was commonly recognized that Preferential stock carried a fixed divi- dend and nothing moro. With great respect to Mr. Justice Joyce, his Lord- ship thought that his conclusion was Wrong, and that the appeal must be allowed.

The Lords Justices also delivered judg-

THE TERM "MIKADO."

INTIMATIONS

3

HUMOUR ON WRISTS

KNEES AND FEET

Doctor Said He Had Eczema as Bad as Anyone Could. Got No Rest. A Little Cuticura Oint-

ment Cured Him.

When my husband's eczoina utarted first, it was a swelling in his face and he could bardly see out of his eyes. Then it started to come out in humour on dis wrists, koseg and feet which were the worst parts of all, the other parts of his body being broken out la spots. They irritated something stocking

· and he could get no rest with 11. I sent for a sample of Culleurs Olotment and while I bad sent for that a lady gave me one in a small tin, about as much as the sample tla. My husband used all but a very littlo s0 you see it didn't take much to cure him.

Before he tried the Cutleura, Olnirent he went_to_tho-doctor-who said - my-husband- had verem as bad as muyono could, and Kuve him some medicine but that did ilm ao good. We think if i hadn't been for the Cutleura Okitment he would still have had eczema, bet li soon weat after waing the Cutienm Olatinent.” (Signed) Mrs. E. F Bower, Neronlon, ur. Wickford, suck, England, July 13, 1011.

One of the most successful treatments for Veczem, whether applled to the youngest olent or the oldest person, hot halhe with Cuticura Seap and gentle 1ointings of Cuticuro Ointment. For more than generation, these pure, sweet and gentle emollients Impa proved the most efficient agents in the upoody and permanent vellet of ait forms of oczenias, raslica, Itchings and Wiations of the skin and scalp. A single sel often ficient. Although Chatirura Soap and Cintrucat are sold throughout the world,

• liberal sample of each, with 32-p. book on the treatment of skin and scalp affections, will be sent post-free on appllection to the nearest depot: F. Newbery & Sons, 27, Char- terkonso 6q., London; R. Towns & Co., Byd- noy, N. A. W.; Lennon, Ltd., Cape Town: Müller, Maclean & Co., Calcutta and Bombay: Potter Drug & Chem. Comp., solo props, Boston, U. 8. A.2.

Respecially has it interfered with the rub- the meetings held on June 23rd, 2000, and lengthy paragraph from Mr. J. Morris Chs. J.

ber auctions for the past month. Usually

days and Wednesdays, fortnightly, but of the auctions have taken place on Tues late the difficulty of getting the Eastern plantation rubber unloaded has caused delays and even then the amounts offered luve been below the usual level. In spite of that, the reports, just available of the trade of the Port of London shows the rubber industry has developed on the Thames in the past few years. The apses at the St. Katharine's Dock that has been used up to now has proved utterly inadequate, and as the wool trade is dealt with there too, it has been decided to transfer the rubber business to the Lon- don docks, for the traffic in the commodity has gone up in five yaara no less than three hundred per cent. Besides this increased in other ways so mach that wide alterations are impending, inclnd- the demolition of the Crutched Frisrs Warehouse, the site of which is required for the Authority's now offices.

The warehouse was built in the eighteenth century and was originally one of the numerous depots of the East India Com- niralty offices, where Pepys lived and pany. It stands on the site of the Ad- wrote his famous diary. It has long been the principal depot for the cigars and cigarettes imported into London.

THE CIRCULAR TO THE SHAREHOLDERS. *

In a circular issued to the shareholders on June 14th, 1999, it was stated the new articles were variations and additions to the original articles, and were merely such as were necessitated by the altern- tions which had been made in company tax since the incorporation of the com- pany, and did not materially affect tac rights of the shareholders as they existed under the original articles, and it was further stated that Articles 3 and 11 did hot in any way alter the rights of the Preference shareholders, but set out more clearly and extensively the rights attach- ing to these shares.

It may be useful here to explain that the title of Mikado by which his Majesty is perhaps best known to Europeans,! although undeniably an appellation of great antiquity İKİ in no degree derogatory, is in littlose in Japan itself. Literally it signifies the "honour- ablu gateway

"'entrance,"

N

8-19

Gaupt & Co.,

ALEXANDRA REILINGS,

CHATER ROAD,

and Always have on hand a very large complete

stock of

SCIENTIFIC AND

though in ancient times the designation, when applied to a rulor who dispensed justice from a seat at the entrance to his pavilion, may have been more or less an Article 111 of the new articles replaced appropriate title, it may be also that as Articis 116 of the original articles, and yours went by the preference of the people · URVEYING INSTRUMENTS for some tarm that should more definitely convey the idea of the sovereign's that may be given upon the issue of way new shares, or may for the time being be supremely exalted origin, according to (Transits, Levele, Plane Tales, Prismatic san their popular belief, led to the gradual subsisting, the profits of the company. available for distribution shall be ap-adoption, in official documents, of the

Sight Compasses, Hand Levels, &o, &t.) plied first in payment of a cumulative title of Tenno, and in common ecaversat

Biso dividend at the rate of 10 per cent, por tion of that of Tea-shi, terms which are annum paid on the original Preference

in general ao at the present day. The shares of the company, and subject perpetuation of the term Mikado among thereto shall be distributed as dividend foreigners, though almost obsolete among among the holders of the Ordinary shares the inhabitants of the Ten-shi's realms, in accordance with the amounts for the

is on a par with the retention of the time being paid on the Ordinary shares

Japan As that of the country held by them respectively." The Prefor

of the it being a survival ence shares never received more than 10

"Jipangu" of Marco Polo, who thus (T Squares, Set Squares, Stra'g't Edges. per cent. dividend, although much larger

alluded to it in writing an account of his

Scales, Inks, 40, 40) dividends had been paid on the Ordinary.travels. Marco Polo's book was prepared

at the famous Boulter's Lock, where the change, the Port Authority's business has provided that "Subject to any priorities crush used to be so great that it took a long time for the craft on a busy, Sunday to get through. It has now been fitted with 418 much machinery as a tube station. It was inaugurated this week by a distinguished company, with Lord The Oriental Circle of the Lyceum Club Desborough at the head of them. Tho had a very interesting address the other old lock has entirely disappeared and day by the Runt of Sarawak on condi-in its place is a sort of moving staircase tions in her country. She eulogised the urboat conveyor" that takes up the Malays, Sea Dyaks, Chinese and Hindus small craft on a sort of endless chain ar- who had been so devoted to hureelf and rangeniont, lifts them over the lock and her husband, and she proceeded to show shoots them off into the water again on how they have a voice in their own the other side. In this way three hun- administration, because no law is pro-dred hosts an hour can be got rid of. mulgated by the Raja until it has beon passed by the special representative of the people, and until the Raja has him- self discussed it with the humblest of his subjects. Then she gave this idyllic

Heavier craft, such as motor boats, pass through a new luck, entirely separate from this latest contribution to science of speedy traffic.

the

THORNS IN THE SIDE OF THE GOVERNMENT.

Two artful strokes this week must be

The

GUARDING THE SECRET.

WHERE SYNTHETIO RUEBER 15 BEING MÅDE,

Striogont precautions, the Fall Mall Gazette anys, have been taken by the dis- coverers of the new process for manu- facturing synthetic rubbor to provent the secret bacteria from being stolen from the works at Rainham, in EssCX,

namt

it solf,

Mr. Justice Joyce said that the ques- in 1980 at Genoa, and Jipanga was doubt- sion how the surplus profits of the defen- less the traveller's rendering of the dant company were to be distributed de- Ji-pin-kwoh of the Chinese, the name by pended on the resolution of July 13th, which Japan is known to that nation 1801, with the original articles of associa-to-day, and by which Marco Polo, beard tion, and in particular Article 116 read the island Empire spoken of sing 800 in connection with it. In his view the years ago. To the Ten-shi's subject their priority given to the Preference shares larid is Ni-hon-koku, or Sun-origin and, was the right to be paid 10 per cent.

a term that is fairly translated, perhaps, cumulating; subject to that, the profits as the Land of Sunrise. Ji-pén-kwoh, in were to be divided equally between the Clinese, has precisely the same meaning, members. The result was tant the Pre and the thron ideographs employed are cumulative dividend of 10 per cent.; then ference shareholders were to be paid a

identical in Chinese and Japanese, the difference being one of pronunciation the Ordinary shareholders were to receive only. Though the dwellers in Nibon a dividend of 10 per cent. and the surplus know as a rule by this time what is profits were to be paid equally to all the meat by Japan they always speak of members of the company. The now articles were therefore invalid and must go, and their land as Nihon or Nipon, and though they know to whom strangers allude as for the future distribution must be made

the Mikado, they refer to his Majesty as in the manner he had stated. The defendants appealed.

the Ten-shi or Tenno. Nevertheless, the terms in use abroad, though they have lesss to recommend them on the score of accuracy, either for country or ruler, bid fair to survive for generatious.

JUDGMENT.

ANCIENT CHINESE WRITING.

This is not surprising when it is re- membered that £35,000 has already been

the process proves a commercial success hugo fortung will be reaped by those responsible for its discovery.

The site of the works, which is ou a lonely and isolated peninsula in the river, is peculiarly adapted for the purpose, as it can only be approached by land from one direction. In order, however, to run no risks whatever, a heavily armed guard and four ferocious dogs are kept there The chief danger, of night and day. course, is at night-time, and as a further

The Master of the Rolls, in the course precaution the vessels in which the of his judgment, read the resolution and bacterin are working aro specially con

articles set out above, and said that the structed so that they cannot be opened question was whether the Preference by an intruder, even if he was equipped shareholders wors entitled to anything with the best engineering or burgling beyond 10 per coat. What was the mean- appliances, under twenty minutes, and ing in the resolution that the holders of then his trouble would be useless, as the Preference shares should be entitled to

The British Museum has acquired a vessels are so built that forced open an cumulative preferential dividend of 10 inrush of superheated steam would per cent, per annum? It seemed to his collection of animal bones inscribed with archaic Chinese characters of u more destroy the bacteria immediately, and Lordship that the ordinary meaning was

that stated in the resolution, which primitive type than any yet found even probably seriously injure the intruder.

defined and limited the dividend which

in the ancient bronzes. These bones were Every endeavour, too, has been made to retain the unswerving loyalty of the the shareholders could take. His Lord-urchased some months ago by the Owing to whois of the staff concerned. Everyone ship adopted the view taken in Palmer's authorities of the Museum. connected with the enterprise, it is under Company Precedents (11th ed.), Part I, their extrente antiquity the characters: co-partnership. 8id: It is generally assumed that have been deciphered only in part. Many stood, in working on a

of them, indeed, are far more primitive basis Professors Perkin and Fernbach where the preference shares are given a and the chemists of Messrs. Strange & fixed preferential dividend at a specified than any characters yet identified. It is || Grahan (Ltd.), with Dr. Matthews at rate, that impliedly negatives any right clear, however, that these writings are the records or notes of inquiries made their head, have been retained under long to take any further dividend." agreements of approximately nineteen assumption was, in his Lordship's opin mostly by the king. The bones, having been inseribed with questions, were seared years, so that any improvements made by ion, well founded. the research group will become the pro- It was remarkable that, though prefer- with hot irons, and the cracks which then ance shares bad been known for over 50 appeared in the bones were interpreted Big as the sum of £35,000, which has years, there was not a single instance in cording to certain rules of divination. perty of the new company. been spent on experiments, is, it seems which the question had been raised. The The process of interrogation was carried

out by professional diviners. small when compared with the 2250,000 effect of the resolution entitled the Pre- which it is reported the German ference shareholders to 10 per cont. and inquiries relate to such things as the group, which has been working towards no further right or interest in the profits. prospects of rainfall, harvests, the fate the same end, has expended. The die But it was said that the Court ought to of prisoners, hunting expeditions, change parity in the sous spent by the Anglo- see har, according to the trae construc residence, and so forth. One eminent French and German groups is explained tion of ile articles, was the position of authority inclines to assign the date of by the fact that the former have had the all the shareholders of the company, and the inseriptions to the middle and the advantage of being able to do much of if it was found that all members of the early part of the Chou dynasty, which thirties of which their principal chemists in the profits the Court ought not to cut modern Chinese critics attribute them to their work at the laboratories at the Uni- company were entitled to share rateably lasted from B.C. 1122 to B.C. 249; but two ure such distinguished members, and also down the right of the Preference share the Shang dynasty, which lasted from B.C. 1766 to B.C. 122. In any case they His Lordship did

are the oldest forms of Chinese writing by the fact that the principal chemists holders unless they found something to rely for their remuneration on a share of negative their right.

not find in Article 115 anything which the profite.

that have survived.

picture of Sarawak, that has been making : credited to the Government. The chief tax-troubled Britons long to be going thorns in their side just now are the Laspent in experimental work, and that if thither.

"The palace door is ever openbour men, who are pressing three-carner- and the very beggar in the streets--if there

ed contests at Crowe and Hanley and are any beggars in this veritable garden threaten to smash up the coalition, and of Eden-can wander in at any moment the Little Navy men who declare they and relate his troubles, or give his will inake things hot for the Cabinet if opinions, or ask a favour of his Sovereign | much money is spent on shipg. Here, in person." Never has the Rani mot such then, are the two artful strokes. perfect naturalness and such perfect Labour mon have threatened to abstain breeding us was to be met with daily from attendance at the House, leaving among all classes of those whom people the Government to look after its own here at home would regard as savages pure for this week the Franchise and Redistri- majorities, so the Government sot down and simple. Further she praised herbation Bill for second reading on Mon husband's policy of refasing to allow the day and Tuesday. If the Labour men country to be exploited by the Stock had stayed away in a body it would hava . Exchange or Wall Street speculatur. Hade, the matter is very conspicuous one might have lost a good deal of personal and would surely react on them in the aggrandisement thereby, but he set the constituencies, for the bill concerns man- benefit of his Sarawak community above hood suffrage, from which they, of all all things.

people, must stand to gain most. As to the "Little Navy" section, who wanted to keep the House sitting on Tuesday news from Italy is to be believed when the great naval display was fixed the feminist movement seems to be invad- for Spithead, the Government set down ing the convent, in a certain degres at such measures as the Mental Deficiency any rate, and to be giving some anxiety Bill and the Inebriates Bill, neither of to the Vatican. It is reported that the which the little navy men would be pre Pope has & plan under consideration to pared to reject, and if they did it would suppress all recent sisterhoods and those net affect the position of the Ministry, with a very small membership, and then Both sections are sore at the contemptat the members will either have to go home ous way the Government have treated to their relatives or be put through a very their threats, but the fact is the majority rigid oxamination prior to being ad- of the House are rather tired of both and mitted to one of the older and stronger rather welcome the opportunity of clear- organisations. This has been brought to ing the air with the aid of a thorough

"dust up."

The first effects of the the mind of the Pontiff by the constantLabour abstention from the division reports from bishops in all countries that

lobby were sufficiently ominous, however. the religious communities were increasing There was a question introduced bearing too fast and were showing an inclination on the doings of the Secretary for War, to claim autonomy of government that carried them outside the strict vigilance and most of the Labour men abstained, so that the Government majority foll to 46. of the religious authorities as desired by |

THE FEMINIST MOVEMENT IN ITALIAN CONVENTS.

That

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