1889-03-19 — Page 3

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our dear Spain with a view, to remove all impediments to the heu exercise of all religious beliefs in the Philippine Islands.

In thanking you for your sensible remarks, I cannot refrain from observing that the inhabitants of the Philippines, mtached as they are to the religion which they learnt from their parents and which they retain from conviction, will never rush to any upea demonstration that may be derogatory to the interests of their creed. On the contrary, they will use every endeavour to prevent any collision from arising from the ezescite of the rights guaranteed by the new ordinance.

*

The inhabitants of the Philippines have never entertained any fear of those who dirent from their religious views; they have insisted of possessing the rights of all rivilised peoples, and they are glad to see that their Govemment has so far respected there rights as to grant them s legal freedom of worship.

THE HONGKONG TELEGRAPH, TUESDAY, MARCH 19, 1889.

The MANCHU STAKES, Value T. 100; fox China Ponies, dont fide. G. ffius at date of entry, that have run and not won a Rree - Weight for inches as per scale-Entrance, Tis. .One Mile and a. Quarter.

months ago on the coast of Annam, have been vigorously resumed. It is expected to float the vessel within a short time; so far she has us 1ained no damage.

On the 3rd inst. the telegraph men who were The CHAU-SUANG-KIUK CUF, value, Tis,placing a line from Luc-dien, to Kesat were presented by the Directors and Emplo, sacked in the province of Hung-yen by a band of the C. M. S. N. Co. Fur China Peries that fpirates about one hundred strong. M. Mourey, the superintendent,, with his escort of 25 militia have never run at any Meeting in China

men, vigorously repelled the enemy, eight of Hongkong previous to date of entry at each

when were placed hors de comont and the Meeting-To be won in two consecutive

remainder put to flight. Meetings, or three times in all; by Ponies the bord fide property of the undowner or owners -Weight for inches as per scale-Entrance Tls. 10; 80 per cent, of the Entrance fees to the Winner until the Cup is won, when the Second Pony shall receive same; the remin ing 20 per cent, to be allowed to accumulate, and the accumulation in xcess of Tis. 500 (to be retained for a new Cup) to be paid so the Winner. One Mile.

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The YANGTSZE STAKES; value, Tis, 100 for China Ponics; weight for inches as per scale; winner of a Race of two Miles or over, slbs. extra; entrance, Tls. 5 Two Miles and

Hall

It is not, moreover, sufficient for us to feel well disposed to promote a good cause; our press must take the matter in hand and lead public opinion. I therefore request of you that, consti- tuting yourself the echo of our legitimate aspirations, you will give this subject your valuable, consideration." You may reil assured that your views on the advantages of the freedam of religious worship are shared by a vast majority of my countrymen both in the neigh-The CHAMPION SWEEPSTAKES; a forced entry bouring Archipelago and in Spain.

Thanking you for the publication of these lines,

I remain, Sir,

Yours truly,

E

FILIPINO.

Hongkong, 19th March, 1889,

PROGRAMME OF THE SHANGHAI

SPRING RACE MEETING.

TUESDAY, WELNESDAY, AND THURSDAY, J0TH APRIL, IST AND 2ND MAY, 1889.

Stewarda J. M. Ringer, Esq.; A. McLeod, Esq; W Howie, Esq; Ino-MacGregor, Esq;

O. Schaffenhauer, Esq.; Robt. Mackenzie, Esq.;

The CONSOLATION Cur; value. Tls. 100; for Ponies that have run at this Meeting and not won a Race weight for inches as per scale; entrance, Tis. 5. Once Roand...

for and open only to winners at this Meeting; optional for the winners of the Consolation Cup and the Roadsters' Plate not exceeding 14 hands 3 inches in height; weight for inches as per scale; entrance, Tis, to'; winners of two Races, Ts. 15 extra; of more than two Races, Tis. 45 extra. Ohe Mile and a Quarter. The GRAND NATIONAL STEEPLECHASE; value. Tis. 150 for China Panies; Second Pony, Tis. 5o; weight for inches as per scale winners ola Steeplechase allowed gibs; entrance, Tis. 5. Twice round a course selected by the Stewards.

Entries close at 4 pan, on Saturday, 6th April

LATE TELEGRAMS.

BERLIN, March 1st.

The Emperor Williams will probably "visit

L. Suidter, Esq. Clerk of the Course :-E. H. || London in August next. The Tsar is expected Gore-Booth, Esq, Secretary :-Bares Dallas, to visit Herlin at the end of this month. Esq.

FIRST DAY,TUESDAY, 30TH APRIL, 1889, The HART LEGACY CUP; presented by the late James Hart; valve, Tls, 100; for China Ponies; weight for inches as per scale; entrance, Tis. 5. Hail-a-Mile:

PARIS, March 2nd.

The Chamber of. Deputies by a large majority have approved the action of the Government in closing tlie ofiers of the Patriotic League, and Prosecuting the leaders who are Boutingists.

The French cuiser which took Atchineff and

The CRITERION STAKES; a Sweepstakes of This Cossacks from Obock has handed them over

10 each, with Tls.. 100 added; for China Ponics; weight for inches as per scale; second Pony to save his stake. One Mile.

:

to a Russian corvette,

1...

ROME, Match 2nd. Signor Crispi is reconstructing his Cabinet. LONDON, March 2nd.

The GRIFFINS PLATE; value, Tis. 250; for

China Ponics that have never run at any In the House of Commons last night the Meeting; second Pony, Ths: 50; weight for debate on Mr. Morley's amendment to the inches as per,scile ; entrance, Tis. 5. Three-address was resumed. Mr. Parnell, on rising to quarters-of-a-mile.

address the House, received a perfect ovation from the Oppustion, the whole of them standing up and cheering him enthusiastically. In his speech he said that he felt confident that the English in the near future would affirm the Justice of the cause of Ireland, and would perceive that granting her the control of het own affairs would be without danger to the Empire. He further said that it was only just for the smaller country to give all required safeguards. On a division being taken the amendment was rejected by 339 against 260 vrtes,

J

Once round.

The CATHAY CUP; value Tis..150, for China Ponies; weight for inches as per scale; Griffins at date of entry allowed 7lsentrance, Ths. 5. One-mile-and-a-half.. The JOCKRY CUP; value, Tia. 100; for China Ponies that have never won a Race; To be ridden by Jockeys who have never had a winning mount before this Meeting; weight for inches as per scale; entrance, Tls. 5. The KIANG-SU PLATE: value, T. 150; for China Ponies; weight for inches as per scale: entrance, Tls. 5. One Milo and Three Quarters. The RACING STAXES; a Sweepstakes of Tis. 10 each for Chisa Ponies that have never run before 1st January, 1889: griffins at date of entry allowed sibs.; weight for inches as per scale; winners gibs. extra. One Mile and a Quarter.

The ROADSTERS' PLATE; value, Tis. too; for China Ponies (without restriction to height) not otherwise estered at this Meeling, and that have never won a Race; weight. rost. zalba.; entrance, Tis. 5. Once Round.

•

SECOND DAY, WEDNESDAY, 1ST MAY, 1889. The CHU-KA-ZA CUP; value, T. 100; for China ponies; weight for inches as per scale; winners of one race since 1st October, 1885, 7lbs, extra; two or more races, rolbs, extra; entrance, Tls. ç. Half-a-mile. The SHANGHAI DERBY; a Sweepstakes of Th. 15 each, with Tis, 100 added; for Chins ponies being bend fide. Griffor at date of entry first pony to receive 75 per cent.; second pony, 15 per cent.; third pony, so per cent weight for inches as per scale. One mile-and-a-hall.

Sir J. Gorst, replying to a question in the House of Commons, said that Mr. Streeter's lease of the Burma ruby mines was renewable unless Government shoul! decide to work the mines themselves, or third parties buthid the licenses./

D. Charles Tanner, ineinber for Mid-Cork, against whom a warrant of arrest under the Crimes Act has long been out, but which he has hitherto avoided, was arrested last night after the division was taken.

Advices from Madrid state that a man who is believed to be Pigott has been arrested there, and has since committed suicide.

The news of Pigott's arrest and suicide at Madrid is confirmed.

March 4th.

Mr. Richard Peacock, Liberal member for Gorton, is dead.

The lates! advices from Samoa state that Mataafa has refused to comply with the demand of the German commander to surrender. He has, however, agreed to a truce, and to stop, raiding on the German settlers.

TONQUIN NEWS.

We extract the following Tonquin news from the Courrier d'Haiphong: On the 3rd March The LADIES' PURS5; value,~; for China ponies; the Commercial Circle was inaugurated in Hai- weight for inches as per seile; entrance, phong. The building contains a large exchange Tis. 5. One-mile-and-a-quarter.

room with library and billiard tables annexed."

General Bichot, commanding the Army of The "ORLANDO"CUP, value Tis, 200, presented;

second Pony to receive half the entrance fees; Occupation, arrived in Haiphong by the last for China Ponica; weight for inches as per mail and lelt on the gth inst. for Hanoi, scale; winners at this Meeting of a Race of The number of paupers in Haiphong is increas one mile and a half or over to carry glbsing out of all proportion to the population. extra; entrance, Tl. 5. Ona Mile and Three Quite an army of vagabonds have joined the mendicant fraternity, who give no end of trouble Quarters, The SPRING CUP value Tis. too, added to both to the civilians and military members of Sweepstakes of Tla. 10 each, less Tis, so to the commualty by their incessant importunities the second Pony; for China Ponies that have in the streets, never won a race; weight, 11st, for 13 hand; to give or to take 6lbs. for every inch over or under, One Mile.

The CONCORDIA CUP, value, Tis, —¡ presented by Members of the Club Concordia, added to a Sweepstakes of taels to each; second Pony to receive 40 per cent, and the third Pony to per cent of the Stakes; for China Ponica bond

fide Griffins at date of entry: weight for inches as per scale; winner of the Derby, 7lbs. ex Out Mile and a Half.

The RACE CLUB CUP: valine Tis. 150; for China Ponics; weight for inches as per scale: Winners at ibis Meeting of a Race of ont mile or under, to carry 3lbs. extra; over a mile, 7lbs. extra; penalties accumulative up to rolbs,; entrance, Tis. 5. Two Miles. The SHANGHAI STAKES; a forced entry of Tis. 5 for all Ponies, except those entered in the Roadsters' Plate; first Pany to receive 75 per cent; second Pony, 15 per cest; third Pony, to per cent, of the Stakes; weight for inchei i as per scale. One Mile and a Hall' The TAUTAI'S CUP value, Ti; presented by H.E. the Taotal; for China Ponies; weight Izst.; winners at this Meeting, gibs, extrA Į entrance, Tl. 5. One Mile.

A telegram from Langson notifies that the bam-trien who with a few Muongs had escorted the Marquis de Mores in his expleting tour from Lang-sen to Tien-yen, were attacked by pirates in the ne ghbourhood of Din-lap; the little tieng succeeded in repelling their assailants.

M. Ternisien, political editor of the newspaper Mariucet Colonier, was received on the 16th Jan. by the President of the Republic," and spoke at great length on the financial status of Indo- China. He subsequently visi ed the Premier

The Postal Service in existence in the interior of liv a decree issued on the 14th December last Cochin-China and Cambodia has been extended to the whole country under the Protectorate.

The Marquis de Mores having completed his frontier survey, proposes to solicit permission from the Government to open a railway line from Tonquin to China, connecling Tien-yen, Quang-yen, Hanoi, Seven Pagodas, Lang.sen, Thai-nguyen, Thoug-hoa-phu, the Ra-bé Takes, with the frontiers of Kuagai

NOTES FROM CHINESE PAPERS

The Chiese tea merchant of Kiukiang are sali to be much elated at the success of Chinese reas last season, giving good hopes that the tide has turned, and that the competition of the Indian leaf will be less and less keenly felt. We hear that contracts of from Tls. 700 000 10 Tis, 800,000 have been already settled with upcountry growers for the ensuing lea season.

The Hu Pao of 17th March has a leading article recomiending the imposition of an import duty on foreign liquors, wine, beer, tte, and on cigars. The consumption of these has increased so enormously of late years in China, it says, that they should no longer be exempted from duty on the ground that they are imported for the exclusive use of foreigners.

The new Tarter Goerr 1 for Foochow, Hi-y leaves Shanghai for his post to-day (15th inst.) Yesterday he spected the Kiangnan Arsenal, and showed great interest in the machinery, and in the guns which had been made there. They day before he had been entertained at tiffin at the Bubbling Welt Garden called the Wei-shun Juan, with Mr. Shi Sho-k'in, the Chairman of the Silk Guill, Kung Taoni, and Nich Tastal, Director of the Arsenal, and other officials, which Tuted till 6 p.m."

1

The Viceroy of Canton has a high opinion of the wealth of that province in minerals, bui fully realises the fact that, if unskilfully worked, mines will not he a success. Hearing of the flourishing state of the Kaiping Coal Mines, he recently sent an official of the rank of District Yagistrate in Tientsin to Ohtain from the Vicetoy Li Hung-hang any information that might be useful, and Mr. Tong King-sing was cetas quently requested to supply him with such. The deputy has accuding's been shown over the Haiping Coal Mines, and will carry back a map with full particulis, of the method of working for the information of the Southern Viceroy.

FORMOS +.

(FROM OUR CORRESPONDENT.}

Tamsui, 4th March, 1889, Since my lust the weather has been very: changeable, and we have had a few more days af wet and cold weather. So you see winter has not quite left us yet.

Some time ago the Governor gave orders lo Count vou Butler, Disector of the Arsenal at Tai-pak-foo, to order an iron swinging railway bridge from England, and it was shipped on board the ill-fated steamer Priam, and was, of course, lost, so it will take some time before it car be replaced and shipped out here.

The Ferches left for Shanghai via Keelung on the 2nd. She had for the latter port a mud. barge in tow, the first of four ordered by the Governor, which are to be built at Tai-unk-foo. The Government steam-launch Namtang arrived here yesterday from the Pescadores, and in a few days will leave for Kelung to low the loaded barge out to sea, and as soon as the other barges that are now building are ready the dredging of Kelung harbour will be com menced in real earnest, and without the aid of the valuable inding. It seems to me that the Governor will make Kelung a harbour again, with deep water, long before the "heaven-scal barrier" at Woosung is removed.

Lately we had two slight shocks of earthquake, the first on the 21st ult. lasting, five seconds; the direction was from west to east. The second shock occurred on the 2nd inst., at 3.15 pm., and also insted Ave seconds, the direction being north to south.

As usual about this time of the year changes are taking place in the Customs. On the 2nd inst, by the steamer Formosa, our new harbour The despatch vessel Sendre is to substitute master, Mr. Stevens, arrived; also, Mr. Good- the gunboat Lutin in Tonquin waters. The hart from Cinton, and Mr. Andrew. The latter Sendre left Toulon on the 12th February, with takes the place of Mr. von Tanner, who goes several officers and men on board for the Tonquin home on leave on the 1st May next. Mr amy. On ker arrival the Zufis proceeds to Langley goes to Takor on promotion, and Mr. Saigon where she will be dismantled and placed Happer from that port is coming here. Captain in the reserve.

Melnnes and his family leave by the Formosa By a dente from the Governor-General an to-day, for Amoy, and will proceed from there Agricultural School has been created in Hanoi, to Chinkiang. By the same steamer our Acting the staff of which will comprise a director, a Consul, Mr.".Bourne, is going to Hongkong to chemist, a planting manager, and several native get married,

assistants.

The German barque Bylgia. Captain Weiss, which brought a cargo of hardwood from Hong- kang for the railway bridges at Tai-pak-foo, is chartered by the Governor for another two

mines and gold fields, and report to the Korean Government and to the "Yankee Syndicate," in whose interest he has chiefly come here. Should his report be favourable the syndicate will make certain offers to Korea to work the mines on farge scale. Mr. Pearce stands in his stockings over 6 feet 6 inches, teminding one of the lanky well in town to whom the street urchin popped. the question "I say, be it cold hup thar

On the 3rd instant Mr. Suzuki, the popular Japanese Consul, who has been here three years, and has proved himself a thorough gentleman, and has done a good deal for the improvement of the condition of his people and others here, was presented with an address signed by the master and 45 students of the Chemulpo Municipal Night School, including Chinese, Japanese and Koreans, the school being open to all Mr. Suzuki left by the steamer Tsuruga on- the rath instant to take up his post as Consul General in Hongkong.

The copies of your paper which you kindly send me are eagerly read by the local officials

improve thereby. here, and no doubt your subscription list will

a small vessel of only 340 tons register. She will leave in a day or two for Kelung to load coals for Hongkong, and from there bring another cargo of hardwood.

It is a rainy and miserably cold weather.

The Convention signed on December 1st, 1888, to regulate the question of the junction of Chinese telegraphic lines with those of Tonquin has been rallied by the Emperor of China. months at $1.400 per month; that is not bad for

M. Renault, a merchant carrying on business at the Seven Pagodas, and a young marine were out shooting on the 26th February in the Canal of the Rapids; when about five kilometres from town and quite near the militia station of Than- gian, they were suddenly attacked by a band of Mercury. pirates who had ambushed themselves in the tall grass sear the bank of the canal. By the first volley M. Renault was struck in the breast and fell dead in the water, and bis companion was then surrounded and beheaded. A little boy who accompanied the victims brought the sad

news to the Seven Pagodas. A reconnoit

I have reason to believe than an officially ering party under the command of Capt. Neuville went in pursuit of the band, but could certified copy of that notorious canvassing note find no trace of them nor of the bodies of the of Mr. Shenicke has, ere this, been banded to deceased. A few prisoners were, however, Sir Robert Hart by the German authorities at secured. A friend of the deceased, who had left Peking,

KOREA.

(FROM OUR CORRESPONDENT.)

Siul, 13th January, 1889.

THIRD DAY,--THURSDAY, AND MAY, 1789. The GREAT NORTHERN PLATE, VaĴDe Tis. 10: for Ponies that have run at this Meeting: weight for isches as per scale; winner of one Race et this Meeting under a mile, 7lbs. extra; | an hour before them as a shooting expedition, The foundation-stones, outhouses, bricks, tiles, was fortunate enough to refuse to proceed as far timbers, &c., the remains of the late German as they did, and by returning home undoubtedly Legation at Paktong, will be sold by pablie auction on the 18th; on behalf of the Insurance escuped sharing their late.

two such Races, tolbs, extra; entrance, Ti 5. Seven Furlonge.

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The "SANS SOUCI STAKES, value Tix. 200;

It is intended to send 50 Haiphong-inade cainpany, I suppose. It is rumoured that both presented; entrance Fees to be divided as Follow First Pony, to receive so per cent.;jnrickshes to the -Paris Exhibition, and great Yuen and Denny will leave this country for Second Pony, 30 per cent.; Third Fony 20 per activ ty prevails in Messrs. Plante and Herme good about April of this year. Personally 1 cent; for China Popies; weight for lunches ss nier's worklipps in getting them ready for tick it is very possible. per scale; griffine at data of entry allowed shipment. zibs; winners of a Raco, 7lbs.extra ƒ entrance The works In connection with the Angling of fee, Fle to Ons Mile and a Half

the steamet Ardgay, which went ground eight

Mr. C. Pearce, a mining englacer from America, arrived here on the 8th instant. He will, it is said; travel dil over Korea this year, inspect the

Mr. Chesney Duncan bas in the prèss a valu. able handbook upon English grammar and com- position, specialty compiled for the use of Japanese, Chinese, and Korean students of the English language.

Co-day's Advertisements.

ST. JOHN

LODGE

OF HONGKONG, No. 618, S.C.

named Lodge will be held in FREEMA- EMERGENCY MEETING of the above. SONS' HALL, Zetland Street, THIS EVENING, the 19th instant, at 8.30 for 9 O'CLOCK precisely. Visiting Brethren are cordially invited.

Hongkong, toth March, 1889.

PRELIMINARY PROSPECTUS,"

THE

f350

STRAITS SETTLEMENTS FINANCIAL AGENCY,

LIMITED

CAPITAL TO BE SUBSCRIBED... $5,000,000 CAPITAL TO BE PAID UP$2,500,000

The number of Shares to be issued will be 50,000 of $100 each, of which it is proposed to call up at first $50 per share;

namely

Mr. Mitchell is here again in connection with his Dagelet Island timber contract. The Korean Government lately despatched a steamer there and took away, without right, timber cut by him, in contravention of Article IV of the Mitchell Dagelet Island concession. This timber, which is very hard wood and useful for ste on application, and two calls of $20 each. building purposes, was taken to Soul for pre in

Further calls only when necessary. the construction of the two large foreign-style buildings which are being erected for the king within the Palace enclosure. Shanghai Mercury.

Co-day's Advertisements.

"THE PARADOX.”

Director.

S. O. ABELL......

HIS GRAND CONGLOMERATION THIS

INTERNATIONAL ARTISTS, consisting of

OF

LADIES AND GENTLEMEN GYMNASTS,

ACRONATS.

JUGGLERS,

EQUILIBRISTS,'

PYRAMID,

WIRE AND

GLOBE PERFORMERS

&c.,

&C.,

in conjunction with

&c.

A STUD OF EDUCATED PONIES, A SCHOOL OF HIGHLY TRAINED DOGS and MONKEYS,

AND

A TROUPE OF PERFORMING PIGEONS,

EVERY EVENING, during this week,

in the large and comfortable Pavilion on the ground lately occupied by CHIARINI'S CIRCUS, at BOWRINGTON.

Doors

орев at.8 Commence at 9 p.m.

PRICKS OF ADMISSION :

Box for Six

Single Seat in a Box ..........................

.$9.00 1.00

Chairs........

Covered Seats

1,00 0.50

Gallery, 30 Cents

in uniform, 20 Cents.

Children and Military,

I. OLMAN, Business Manager. Hongkong, 19th March, 1889.

[331 EASTERN AND AUSTRALIAN STEAM- 'SHIP COMPANY, LIMITED. FOR SYDNEY, MELBOURNE AND

ADELAIDE. i (Calling at PORT DARWIN and QUEENSLAND PORTS, and taking through Cargo to New ZRALAND, TASMANIA, &C)

THE Steamship

i

“GUTHRIE,"

Captain Craig, will be despatched for the above Posts, TO-MORROW, the 20th March, at 2 PM, instead of as previously advertised. For Freight or Passage, apply to

· RUSSELL & Co.,

Agents Hongkong, 19th March, 1889

[266

FOR KOBE (DIRECT). -

¦. DEBENTURE BONDS, Power will be taken to issue Debenture Bonds for $2,000,000, secured, of course, by the

Capital of the Company,

IT

Tis proposed to form a Company under the above style with its Chief Agency in Singapore, and having sub-agencies in the other seulements of Penang and Malacca, and in the chief places of the Protected Native States wherever it may be considered advisable.

The objects for which the Company is formed are all those which are connected in any way with the fumishing of "financial facilities on every scale of magnitude, to all bodies and individuals. It must be sufficiently obvious that the increasing trade of the Colony and of the Peninsula implies increased opportunities of dealing with property and capital in an endless variety of wayi. With the development of the Peninsula comes the necessity for machinery do deal with its increased commercial activity. As Companies are formed and mines developed, as railways are laid down and the transport of forest and plantation produce made casier, so surely comes the necessity for business agencies and mercan- tile organizations, which will facilitate the con. version of produce into capital and the general investment and treatment of capital on the most favourable terms. It is to supply a means of meeting these and similar demands that the Straits Settlements Financial agency is pro. jected

Among the more definite aims will be included the following:→

The

(1) To lend money on simple mortgage, redeemable at call or on short notice. Agency will thus be a source of Capital, to the Colony, of which there is no present equivalent At present a mortage is a cumbrous, expensive and troublesome way of utilizing Capital sunk in Land, in Buildings, and generally all kind of property moveable and fixed. The Banks, by their Charter, are unable to negociate loans on real estate and property, so that the only sources of capital to be obtained on loan are the chatties and private persons.. Experience has demonstrated that these sources are not salis- factory as regards the mode of procedure no are they able to be carried out on an adequatel scale to meet our requirements. Added to which, the only rates upon which a loan can be obtained are frequently so high as, to be simply ruinous. The Agency will be able to negociate loans without exposing the borrower to such an extent as, at present, rendering it unnecessary to obtain a regular mortgage with its consequent heavy expenditure and stamp duty.

(2) To do discount business, which entails Hittle or no risk.

(3) To grant advances for making proposed indways or other local undertakings of a pro- ductive nature. House-builders and Building Associations, on the security of their land oi buildings would be able to obtain a loan, of course, with a margin, for the safety of the Company. The agency would hold on simple deposit (i.e. Equitable Mortgage, requiring only an action in Equity before realising) Title Deeds, &c., and the Guarantee Engagements of Deposi- lots, the more temporary and oft-repeated the better. Advances could be made to Contractors for Public Works who can give substantial security; to Planters and others on the positive value of their land, to Native Rulers who may be desirous of developing the resources of thefs dominions, on the security of monopolies or such olher security as may be deemed good and sufficient; to Municipalities, and public bodles Carkindale, Commander, will be despatched for with their rates or other sources of income as security. The agency would be its own valuator aker a time, calling in local experience only the above Port, about the 26th March. For Freight or Passage, apply to

when necessary, and by keeping a careful record ADAMSON, BELL & Co.,

and index of all sales, would become in time Agents.

the best valuator in the place. Not only would Hongkong, 19th March, 1889.

T355 be avoided the serious danger of relying on SHANGHAI LAND INVESTMENT outside valuation, but the publicity, so often n consideration with borrowers, would not be COMPANY, LIMITED.

Incurred. The commission, valuation, &c, thus saved would be a most important iteni in calcu HAREHOLDERS are reminded that pay-lating the cost of such transactions.

ment of the Second Instalment of Tent Teels per Share is due this day,

HE Steamship T

THE

"TEVIOT,"

Co-day's Advertisements.

own godown, situated conveniently between town and wbarves, with a' siding connected with the present tramway. A suitable portion of ground has been already secured and will be available for the erection of Stores. The Agency would be able then to undertake sales the merchant who is a buyer, but would rather on Commission; this would not interfere with facilitate his business, as indeed is the aim of the Straits Settlements. Financial Agency.

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The above are some of the most obvious ways in which the Agency would make itself of value, and there can be no reasonable doubt that if judiciously worked on the above lines a good and adequate return would be made to its shareholders. While the security of their money would be amply assured by the proposed reserve

money of the Company there would always be property to more than the amount lent. fund, and by the fact that to represent the

The power taken to issue debentures will cover the following points. They will range in amount from $100 to 1,0ço each, and like the shares will be made payable to bearer; this will be found a for security which can be readily realised. It is Kreat convenience to small investors, who look not too much to say that the debentures, being specially, secured, will be as current and as convenient as Bank Notes. It is not proposed to pay a dividend on the abare, expial of more than 7 per cent, until there is a Reserve of $2,502,000 built up for the General Working of the Company and a further Special Reserve of $2,000,000 as security for Debenture Holders. The last named reserve will be invested in The promoters are convinced that a dividend of Mortgage of Real Estate, and held in Trust.

7 per cent, on an investment in a Company established on a perfectly sound financial basis, until such reservés as above indicated make the position of the Company unassailable, is all that can be desired. Debentures, not at call, at ƒ per cent., would be readily taken up locally while their sterling equivalents nt 44 per cent. with good names and sound men on the Board, would be equally acceptable in London. Our Exchange Banks readily get indney at this rate without Debenture or Preferential Security. The Agency would also receive money on Deposit, bearing interest at the rate of 2 per cent, il for three months, 3 per cent. for six months and 4 per cent. fortwelve months.

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The growth of the Colony and the Native States amply justifies the anticipations of a safe and good return for an Agency devoted to the furnishing of facilities such as have been pointed out. In the last nine years the value of the total trade of the Colony alone has increased from 130 million dollars to 253 million dollars, while our trade with the States has doubled in 'value in the last four years. In 1887 the tonnage of the vessels which entered into and cleareil from our Ports amounted to nearly nine million tons, of the value of £40,000,000. When the trade is increasing so rapidly, and money โช flowing so readily into Singapore for investiment in the Native States; when the vast stores of the Mineral and Forest Wealth of the Peninsula re just being opened up by Companies, Syndicates, Railways, and Roads; when capitalists, and investors were never more ready to come forward than now, the promoters feel certain that for such a Company as the Straits Settlements Financial Agency success is dasured.

The following article on the subject. appeared in the Singapore Free Press of March 9th.

The present state of public feeling as regards mining and other enterprises in the Peninsula is such that unusual activity is also prevalent with regard to'commercial and financial matters. A certain amount of excitement about a place is not without some advantage. Men are stimulated. to greater efforts p ideas which might have lain dormant for years spring into the light and become eagerly talked about with all the enthusiasm which arises from striking while the iron is hot, and though sometimes the energy and "force brought to bear often prove futile it not infrequently happens that from the heat of the furnace .comes that which lasts. From the fever for invention in America have come some devices, amid a host of trivial improvements, which have almost „revolutionized the world,. and from the present abnormal state of the commercial and financial world of the Straits Settlements such an undertaking may be evolved which will place the Colony in a position io establish. Itseit more firmly than ever la prosperity. We have reason to believe that, shortly may be placed before the public a scheme for a financial agency on an unusual scate, which shall go in for providing all sorts of mercantile business facilities. This is intended to operate after the manner of a mortgage bank, but doing business only in the Straits Settlements. It is a fact but too evident that the present style of doing business in Singapore is one which has considerable risks. What causes the ruin of so many traders in Singapore? Why cannot many an Englishman or even a Chinaman get a decent living as a merchant? Because in many cases, if he attempts business on his own account, be has to seek accommodation at the hands of the Cheity or money lender, and pay as much as fifteen per cent for it. Now it is obvious that eight or nine per cent, li a very good return for money-that any agency which can do burloess by lending money at that rate, if the security is good, can pay its shareholders a handsome dividend. The trader, 100, relieved of six or seven per cent, will be in a position to build up for himself a reserve and not feel compelled to live in a hand-to-mouth fashion. The Agency, that is nieditated would advance money on produce, either at the plantations, in the merchant's godown or in the Company's warehouses. Each „(4) To receive money from Europe for invest-mining centre would have a branch and upon ment, The high rates of current local interest the actual produce of the mine could obtain an will secure a good retura for funds entrusted to | accommodation. And while doing this, even if the Agency, and investors finding a safe outlet it did not receive the produce into its own godown, for their capital without any personal trouble, it would be perfectly safe, for the actual material would not be slowto avail themselves of the facilior produce would be left for forced sales. Advances ties, afforded by the official and professional could also be made on real estate and other character of the services the Agency would be property such as the Banks, by their charter, ard able to place at their disposal. The collection unable to make. Mortgages, those millstones and remittance of dividends will be undertaken, about the necks of so many, would be to a consider- and will tend to familiarise people at Homeable extent obviated. The Chetties would find with the Company-the surest way of attaining their occupation of sucking the capital of the that desirable object, a source of cheap money. place dry altogether gone, and would have to turn Investing capital and remiting interest, at pre- to their legitimate business as dealers in Opium. sent often done by merchants who are unable There is a wide opening for a well-founded, firmly to do it on a large scale and do not feel them-established agency to do business on strictly selves in touch with suitable Investments, would sound financial principles. Credit is such an probably furnish a considerable return as Com- indispensable factor of þusiness nowadays that mission,

If it were desirable to sweep away the credit (5) The floating and foancing of Public Com-system, such would be impossible. The best P.Mpanies would be a work the agency could well thing to do, therefore, is to put credit on as take in hand. There is at present no reliable substantial and permanent a basis as possible, means of developing a Company except by and if the proposal we have heard. mooted private individuals, and it is no uncommon proposed to do that alone, it would call for the thing for a Company having valuable property most careful consideration, There is no reason. .6.25" only needing development and capital to be a why there should be any risk in such an under.

6.55 1.

first-class concern, to be unable to place itself taking a system of crossed checks would make and its shareholders in the best position. The it possible to avoid any dealings in hard cult, Agency with its large capital and extensive Cealings will be able to adequately assist by advances or otherwise, in securing the safety and stability of such companies.

事

Payments to be made to the HONGKONG, AND SHANGHAT BANKING CORPORATION, by whom receipts will be issued.

GIBB, LIVINGSTON & Co.,

Agenia. Hongkong, 19th March, 1889.

(358

1889 TIME TABLE.

STEAM-LAUNCH

LIMITED.

KOWLOON FERRY.

1889

COMPANY,

One of the Company's Launches runs daily as s Ferry Boat between Pedder's Wharf and

Kowloon Point at the following hours

LEAVES HONGKONG, LEAVIS KOWLOON,

610 AM 2:55 3.55

6.00

AM. 2.10 P.M.

6.35

IT

3.10

7.25 +1 4.30

7.55 ". 8.45

4-45. 5.25* » 6.50 6.40*

9.25

10.35

*9.55 "

$2,25-P.M.

1.25

7.10

8.30 10:30 11.30 #

1 695 "

7.40 8.10 8.55

•17

*9.35 »

-*10.10

11.55 #

4-25

5 j

5:49

1:00 P.M.9 Do 11.55...

7.25 n .." »

11.00 12.09

The above Time Table will be strictly adbered to, and cancels all previous ones,

By Order, GA

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or expensive bill collecing... A crossed, chequa stolen or lost is valudless to those to whom cash or notes would offer a temptation. It la likely that an agency of this kind would meet (6) Toʻmake advances on produce of all kinds, with some opposition from existing companies, awaiting sale or shipment, either in the godown but if the anticipations at present indulged in of the merchant, at the plantation or depot, or fo with reference to the Feninsula are one half the Company'sown godowns. Also against goods | realized, in the near future there will be such an arriving, drawn against, but which the consignees influx of business as will render such an agency * There will be no Launch on Tresday and and it inconvenient at once to take up, such based on firm principles, highly-useful, and

as, for example, large abipments of opium. The Indeed'Absolutely necessary, Saturday on account of coaling.

Company would find it necessary to have tim Hongkong, rith March, 1889.

AG.. GORDON", Sam Secretary

Singapore) rath March, 1889.