1881-09-02 — Page 2

A. S. WATSON & Co. WHOLESALE AND RETAIL

DRUGGISTS,

GENERAL CHEMISTS,

AND

Manufacturers of the following AERATED WATERS, viz: SODA, TONIC, SARSAPARILLA,'.

AND POTASU, LEMONADE, GINGERADE, RASPBERRYADE,

AND PHOSPHORIC CHAMPAGNE.

Deliveries in Town and Harbour from

7 A.M. to 7 P.M.

SHIPS MEDIGIENE CHESTS REFITTED, PASSENGER SHIPS SUPPLIED.

Prompt Attoution given to Coast Orders.

HONGKONG DISPENSARY.

HONGKONG, SHANGHAI PHARMACY,

SHANGHAI

CANTON.

Foocnow.

CANTON DISPENSARY,

THE DISPENSARY,

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Miitor Sirvet,

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no inserted free of curge.

THE

Hongkong Telegraph.

IÍONGKONG, 2ND SEPTEMBER, 1881:

THE most noteworthy incidents in our local world of commerce during the past half-year, have been in connection with the extraordinary transactions relating to house pro- perty, about which a great deal has already been said and written. Commencing a few months back in a comparatively small way, this house property epidemic rapidly spread all over the colony, until at the present moment it finds lucrative occupation for hundreds of brokers of all classes, ranging from the humblest class of touts, up to our highest and most respected mer- chants; whilst small fortunes are being rapidly made by solicitors out

conveyancing business alone. Reported sales of properties have in many instances approached the sensational. We have heard of houses rising in value as much as five hundred per cent. in less than a month without any apparent cause. Even the Head of the Government was so impressed with the wonder- ful increase in value of landed pro- perties, the noteworthy circumstance that everything apparently passed into Chinese hands, doubtless having some effect on His Excellency's mind, that in a speech to the Legis lative Council he congratulated the Colony on its augmented prosperty as evidenced by the great demand for house property by the Chinese, and the increased value of the same. As the greater portion of our trade is gradually, but surely passing into the hands of the Chinose, a demand for centrally situated properties is a natural consequence of probable changes, and the increase in value is merely the effect of this new deve lopment. But the dealing in houses has-not-been-confined to central dis- tricts.. There has been quite as much bargaining over miscrable shanties in Taipingshan, as there has been in the best quarters of the Queen's road, and the results have been in both districts almost identical. Wo are desirous, after having devoted a good deal of personal attention to the subject in its various phrases, of submitting to the public a state- mont of facts and deductions on which we base our conviction that this notorious dealing in property is a snare and a delusion, a pornicious

THE HONGKONG TELEGRAPH-FRIDAY, SEPTEMBER 2ND, 1881.

system of so-called commercial enter-emulate Tennyson's brook by going prise bolstered up by false pretences, on for ever. embodying in its many aspects corrupt and rotten principles, which we regret to have seen fostered and encouraged for misorable purposes of gain by the recognised representa- tives of au honorable mercantile com- munity. In plain words we contend that these pretended sales have been nothing more nor less than illegiti- mate gaming speculations of a re- prehensible character generally, sur- Founded in many instances by dis- creditable circumstances which can- not be justified either legally or morally,

ours.

as

LOCAL AND GENERAL. The repairs to the German schooner Wagrin, which came in dismasted the other day, will be excented at the Pa tent Slip, Belcher's Bay. It is intended to place the schooner on the Slip in mediately the barque Oswald concos oft.

From the Jernal das Colonias wa gather the following:-Right Rev. Manuel Lonrongo de Gouven, dean of the Só de Macán, who resided in that city for the last thirty years, and had to embark for home in May last in consequence of ill-health, arrived there on the Sth July. Ho made no progress daring the voyage, and is at prosont Calleira, aut it is presumed he is now the guest of his old friend Mr. Carlos

the decree of 13th July the barrister-at- recovering his health-In virtue of law José Antonio Pestana da Silva was appointed to the post of Chief Justice of Timor,

The utter corruption of Parliamentary elections in England was never more forcibly demonstrated than by the re-

On

cent trials at the Chester Assizes. July 28th William Mair, solicitor aul out for the Liberal candidates at the of bribery, but for some incomprehen Macclesfield election, was found guilty sible reason, probably because the pri- soner was a somi-respectable scoundrel, the jury recommended him to mercy. Sentence was deferred, as also that on Mr. May, the Conservative Agent, who had been convicted on the previous day. There would appear to have boca very little honesty either in Whig or Tory in this particular election.

In the Supreme Court yesterday their Lordships gave judgment in the The appellant, lottery ticket caso. having been convicted of keeping a lottery agency, was fined $200, and a large number of Manila lottery tickets and others which had been seized were ordered by the magistrate to bo confiscated. Pretically the fine The German barque Osvald will be was not appealed against. As to placed on the Patent Slip at Belcher's the confiscation of the tickets their Bay, either this evening or carly to. Lordships decided that the Ordinance morrow morning. The P. & O. S. N. gave no power of confiscation; that a Co.'s steamship Malacca, and the Ame distinction was drawn between public rican ship Hoogly will dock at Kow-gambling houses aml lottery agencies, loon and Sun-simi-po, respectively to. morrow,

"Erin"

and that the confiscatory power applied only to the former, It was therefore unnecessary for the Court to decide

implements of gambling or not, since whether Mauila lottery tickets were in either case their seizure was wrong. The order of the magistrate must therefore be amended by "striking out the forfeiture clause. The appellant Basquit, was entitled to the costs of appeal.

These transactions have not in the slightest degree been conducted on any sound

business principles. When a man, who could not raise a thousand dollars to save his soul becomes the ostensible proprietor of certain property for sixty thousand dollars, by paying two or three hundred

an instalment, the rental at that price showing a return of considerably less than one per cent, per annum, the inference is obvious. It is a reckless speculation, a bogus transaction, the ratification of which depends entirely on chance. In the ordinary course of events Trade prospects must have been large and important transfors of pro- materially injured in many respects, perty have been legitimately made, in so much as rents, already exor- and for reasons stated above there bitantly high, have been generally can be little doubt that increased raised in all houses speculated in. facilities for trading purposes haveThis, to many industrious tradesmen, in several instances greatly enhanced is a great hardship, for which there the value of special lots. It is not is apparently no remedy. However, however with legitimate and per- a day of retribution is most certainly fectly fair and honorable trading near at hand, and we are simply that we now propose to deal, but performing a duty, in thus briefly with the trumpel uphous sales, exposing the real facts of what is the rockless and discreditable gamb- unquestionably a grievous conimer ling, which can only end in one way,cial scandal in such a community as A few years ago the gambling propen- sities of a certain class of the com- munity gave the colony quite an un- enviablo notoriety. The mediums of speculation in those days were opiuin and quicksilver, and it will be remembered that some very shady transactions in connection with the traffic in these commoditics wvere brought to light. The Chinese

gam- blers eventually played the game until it became threadbare, and from that time, so far as foreigners were concerned, Othello's occupation was gone. House and landed pro- perties are at the present time being speculated in," on exactly the same lines as the old business in opium and quicksilver. Let us illustrato the exact position of affaire hypothe music to be performed in the Botanic The following is the Programme of tically. A has a house for sale, Gardons this orening, if the weather price $5,000; B. becomes the puris sufficiently settled to adinit of the chaser at that figure, paying $500, Baud's departure from their quar- all the money he can bog and Lers:- borrow, on account of purchase, and agreeing to pay the balance in two mouths. The following day B. sells the house to C. for $6,000, receiving an instalment of $500, and a pro- mise of the balance in six weeks. D. next appears on the scene, and at $7,000 becomes the lucky possessor of the bouse; but like the others D.ly stated that the French Government does not happen to possess one-tenth have invited the Cabinet of St. James's of the purchase-money, and so he to resume the negotiations for a new pays a small sum on account, and treaty of commerce which French ob agrees to pay the balance in a month duracy broke off a few weeks ago; but like the others relying on selling at Her Majesty's Government have a profit before full payment becomes spectfully declined to do so. due. As we are acquainted with several cases in which property has boon transferred ten different times within two months, the transactions being identical with the case illus- trated above, our readers can judge for themselves of the genuinness of the whole movement. We have described the modus operandi which applies not merely to one isolated case, but to thirty-nine out of every forty of the sales publicly reported. This "bulling" and "bearing" would bo reprehensible under any cir- cumstances, as a flagrant violation of every sound principle of commer- cial morality; but in the hands of a crowd of unscrupulous men of straw of every nationality it is not difficult to foresee that a crash, which will shake public confidence considerably when all the incidental circumstances in connection with the whole busi ness are publicly exposed in detail, must inevitably come. It is quite true that several foreign firms of high standing are up to their necks in this business. The active agents in this, as in all other schemes of a like nature, are the compradores of well known houses. Money has been made, on paper at least, in immense quantities, and it is equally certain that any number of im- pecunious speculators have incurred responsibilities which they have no possible means of meating excepting by realising a profit, and it is clearly impossible that this game can

March......

Overture.... Valse..

Selection

Valso.........

Mirella "At the Ferry" “Stradella*

fiouuod. D'Athert. ...Flotow.

March (vocal)..." Lot the fills ressound. Richards.

....“HMS. Pinaforo". ..Sullivien.

We are very glad to hear that the English Government have at last taken a decided stand in our commercial rela- It is authoritative-

tions with France.

LATE LELEGRAMS. The following telegrams are taken from the Straits Times Extra :--

London, 9th August.

question in the House of Commons Sir Charles Dilke, replying to a said the British Ambassador at St. Petersburg had been officially informed that the country immediately sur- ronuding Askabad is the southern re-boundary of Tekke oasis annexed by

The British steamer Ash, Captain Lacock, arrived here this morning from Chinking en route to Canton, ani re- Pts having experienced on the 26th heavy sea, ship being unable to make and 27th ultimo strong S.E. gale aud any progress, in which she lost trysails derated on the 28th, and on the 31st and the cargo shiftol. The gale mo- put into Swatow for coals; left same day with fresh southerly winds and much rain.

Russia.

General Skobeloff's successor, Gene- ral Robeburgh, has established his headquarters at Askabal, and there may be a few troops at Gowars, and some had advanced as far as Fultabad, but had returned.

Sir Charles Dilke said that, pending more exact information, he must de. or how far, the Russian advance tren- cline to express an opinion, whether,

ched upon Persian territory,

*

London, 10th August. Lord Hartington, replying to We observe that in the House of question, said that, according to reports Commons on Thursday July 28th to of the Portuguese authorities, the re- less than forty-two questions were obsults of the Goa treaty were very sat- the paper. This would appear to isfactory. His Lordship said he was indicate that with Irish obstruction and awaiting the report of the Indian Go- factions opposition, Her Majesty's vernment on the subject. it lately. In connection with the above Minister must have had lively times of

only 24 public Acts had received the it is worthy of notice that on July 28th Royal assent, and 160 local statutes, in nearly seven months. changes in parliamentary procedure.are Swooping

imperatively called for.

St. Petersburg, 9th August. The semi-official Journal de St. Pe Government have entered into no tersburg announces that the Russian engagement regarding Mery, Russia frontier in Asia. Nevertheless she- only wishes for the security of hor

respects the susceptibilities of the British Government; and believes that Latest home papors state that the the friendly relations existing with review of Scotch Volunteers by Her Great Britain will terminate the former Majesty in the Queen's Park, Edin- fatal antagonism, and establish solida burgh, fixod for August 25th was cor-rity between Russia and England. tain to prove the finest turnout of the

London, 11th August. kind evor scon in Scotland. Thirty- The Standard publishos a paragraph pocted to assemble under arms. six thousand men of all ranks wore ex- stating that the abolition of the Bombay the number of volunteers present at

As and Madras Commanders-in-Chief and the grand review in 1860 only reached Corps is likely to be carried out early the division of India into four Army 20,000 men, it would soom that the movement has made giant stridos incommand the Bombay division, Go- next year. General Burdinge will public favour during the last twenty

yours.

noral Roberts the Madras, and Gonoral Bright the Bongal. The remaining

vacaney will be reserved for a General of the local army, or the Indian Staff Corps.

London, 19th August. The Daily News publishes a tologram from Mr. O'Donovan at Moshed, stating that before leaving Morv, a Council of the whole of the Tekko Chiots desired him to deny the rumonrod negotiations between them and Russia. No Morv olders, they said, had visited St.. Poters- burg. The telegram adds that the Persian Government seems very anxi- ous for au alliance with the Mery

Chiefs, who, however, strongly object.

After a long and animated debate, during which the extreme Home Rule members accused 'the Government of making further treacherous concessions to the Lords, the Land Bill was re- turned to the Upper House at four o'clock this morning. The House then adjourned.

nics, replying to a question, said it had The Secretary of State for the Colo- been decided to sever no part of the Transvaal.

London, 13th August. The House of Lords by large major. ities have dissented from the Commous amendments to the Irish Land Bill, and have insisted on thoir own amend- ments being accepted. Lord Salis- bury has unexpectedly assumed a most uncompromising tone. Lord Gran. ville has solemnly protested against Lord Salisbury's attitude. The Com- mons will reconsider the Land Bill on. Monday. The attitude of Government is very firm. The Standard condemns the action of the Lords, and urges mode- rate counsels.

Mr. Ritchie, member for the Tower Flamlots, introduced a motion in the House of Commons this evening, con- demning any treaty with France estab lishing specific duties. Government announced that they will not conclude any treaty prejudicial to British trade.

Alexandria, 13th August.

A ministerial crisis is taking place here, resulting from the discontent manifested in the army. Osman Pas- ha Refki, Minister of War, has been dismissed. The Khedive desires to assume the presidency of the Council.

London, 15th August. Liberal meetings are held throughout the country urging the Government to maintain a fira policy.

The excitement owing to the action of the House of Lords is less than was expected.

The Morning Post supports Lord Salisbury's attitude.

London, 15th August.

Mr. Gladstone in the House of Com. mons this evening moved that the amendments of the Lords to the Irish Land Bill should be considered, but he made no statement respecting the intentions of the Government.

London, 16th August.

In the House of Commons last night several of the Lords' amendments to to the Land Bill were rejected; others were modified; whilst a few were adopted by a large majority, includ ing the amendment eliminating Mr. Parnell's clause suspending proceed- ings for debt ponding a declaration of judicial rent. The extreme Home Rule members raised serious objections compromise with the Opposition. The and accused the Government of secret

Land Bill was returned again to the Lords.

London, 16th August.

In the House of Commons last night, Mr. MacCoan, member for Wicklow, suggested the expedience of disbauding the Egyptian army and replacing it by a gendarmerie. Sir Charles Dilke in reply, said that the gravity of circum- stances in the background precluded him from giving any answer on the subject.

AFGHAN NEWS. -

Quetta, 31st July. Travellers from Kandahar bring the news that Sirdar Shamsuddin Khan and the rest of the Ameer's officials left Kandahar early on the morning of the 27th, it is supposed for Kabul. Sirdar Mahomed Hussain Khan, one of the Kandahar Sirdars who did us good service while wo were in Kandahar, then assumed charge of the city, and maintained ordor until Hashim Khan.. arrived a few hours later with 60 or 75 sowars and took poaceful possession.

Everything is perfectly quiet in and. and the hoad-quartors of the 63rd Foot around Quotta and Poshin. A wing left Quetta yesterday for Poshin, two companies going to Gulistan and two