1889-08-07 — Page 2

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Intimations.

DAKIN'S

SPARKLING AERATED.

: WATERS

ARE UNSURPASSED.

SPECIAL

*PECIAL TERMS TO LARGE BUYERS.

COAST ORDERS PROMPTLY ATTENDED TO.

No Extra Charge for Packing.

DAKIN BROS. OF CHINA,

LIMITED,

CHEM 15 TS, HONGKONG,

(Telephone No. 60.) Hongkong, 23rd July. 1889.

[21

THE HONGKONG TELEGRAPH, WEDNESDAY, AUGUST 7, 1889.

12

improve the position and prospects of the Steam host Company, nor have we yet been able to recognise what beneficial influence it is likely to exert on the value of the shares; but anyway it very materially helped the ancient fraternity of "bulls" in "whooping up the quotation from 123 to 185 per cent. premium, and in inducing the unwary to rush in and bay for forward delivery at even much higher rates. A great uthority, the same complacent gentleman who so philanthropically promised not to spoil sport by loding the market with his hundreds of share was redited with having predicted that the rate would rise to 300 per cent, premium, that inspired prophecy was industriously circulated, and doubtless in many quarters i was unhesitatingly accepted as pure gospel. And that was how the corner" in Steamboats was an artistically arranged."

Very little more remains to be said. The

resolution to double the Company's capital was forced through at a packed meeting, although it was perfectly well known that the scheme was almost universally condemned outside the magic circle and that the local banks had positively declined to finance the new scrip. The general

A, S. WATSON & CO., LD. conclusion was, and it seems to be justified that the only possible result of the increased capital ESTABLISHED A.D. 1841.

would be to benefit the two gigantic shareholders, who are also directers, at the expense of the rank and file, and to aid the enterprising Chinese gamblers and their associates in rigging" the share market. It is worthy of note that about This period the Hon. J. J. Keswick, of Messrs.

-IN

TN drawing attention to our special prepara- tions, we beg to state that we continue to impert Drugs, Chemicals, and Goods of every kind of the best description only. No other quality is kept in Stock. Our long experience and intimate acquaintance with the Trade and the best sources of supply enable us to purchase direct from the Producers on the very best terms, and thus gives us an advantage which enables us to offer our Constituents the benefit of a con- siderable reduction in the price of all Specialities of our own Manufacture or putting up, as com- pared with similar articles sold elsewhere.

WATSON'S

10 DISED SARSAPARILLA'

PREPARED FROM THE FINEST RED JAMAICA SARSAPARILLA, (Evaporated In Vacuo,") and containing in each drachm one grain of

Iodide of Potassium.

These medicines combined have long ranked as the most certain alteratives known, being indicated in all diseases of the skin, and, in affections arising from poverty, or impurity of the Blood, Price-8-oz. Bottles 1.50 each, 15.00 per dozen

2.50" 2.4.00 11 WATSON'S

FLUID EXTRACT.

OF

TARAXĄCUM AND PODOPHYLLUM. This preparation will be found a satisfactory and refille remedy in all cases of sick-beadache and hilibusness when the howels and liver are sluggish from climatic or other causes.

In Boules Stand $i. o each.

WATSON'S M

knew, and no doubt he did know, that, aand valueless. No 58 of the Articles of mine was to be sprung on the shareholders Association distinctly provides that no by Mr. BELILIOs and a combination of business other than such as is specified notorious Chinese share speculators, was in the notice convening the meeting shall It not his duty to clearly explain the he transacted therent. And this applies position, and further, to conduct the meeting to every meeting held by the Company, in strict accordance with the Company's Articles No previous notice of Mr. SIN ASIN's of Association The honorable gentleman proposal was given, and if the Chairman did neither the one thing nor the other; he had performed his duty he would have spoke very sensibly, no doubt, on the stopped the discussion at the outset. When merits of marine Insurance, but he gave Mr. BRLILIOS and his Chinese colleagues no indication in his speech of the contem- again bring forward their resolution, which plated SIN-BELILIOS "boom, and utterly they can do by requisitioning the Board failed in his duty as Chairman to stop a

for an Extraordinary Meeting, they will discussion that was utterly irrelevant and probably find shareholders prepared to to quash a proposition that is clearly fight them on their own ground, and with invalid. Mr. RYRIE has certainly lost grip. some prospects of success.

TELEGRAMS.

·

ence of this kind. I need scarcely go further into particulars as to the state of things at

as may be seen from the report, just put into Punjom than as represented in this report, and your hands, unfortunately only to day, as it only arrived about forty-eight hours ago. But probably most of you will have had time to read it before coming here, and it gives a good deal of information about what I may call very fair condition of thing. There has been the present position of the mines, and shows a a great deal of underground work going on at Punjum; they have driven more than a thosand feet of drives, as can be seen from this plan. This is only fifty feet, and there was no reason why we should not have found, even at that depth, rock of value and in places we have really had should have been deeper down by this time if very good prospects. At the same time we

we had had machinery, and we could only see, that by driving. As it is we have got a good deal of information, and it is very probable indeed that when we do sink we shall know where to do so, and, that is worth a good deal of money. I met an Australian not very long ago who, had been all round there and I said, "We don't sink very far, and the fifty feet we have gone don't give us a very good face yet." He said "Oh you may sink half a dozen shafts and not have that, and you will be very lucky, if you get it at the end of it," so that we are not doing very badly. We have been opening workings, as you know, in spots at some distance from the mines; we do this to prospect the out-crop, and it is also necessary to work as much of our property as possible. Hence we are doing a gond bit afield, and spending a good deal of money necessarily, These amounts appear in the account from time to time, and therefore are a little beavier,'espe The Civil Governor of Luzon, Sr. Miguel Cathie those with respect to Punjom mises. It is rather good, the experience, and as Mr. Becher Fernandez, has been recalled,

says, mining experience has to be paid for. He is now at home, and I suppose it is very pro- bable that new capital will be enlisted in the work, and in that case, well, there is no saying we may not have a brilliant future before us. I shall be very glad to answer any questions.

THE NAVAL REVIEW.

LONDON, August 5th. Owing to unfavorable weather the Naval Review has been postponed until Monday next.

MORE BUTCHERY IN FGYPT... General Grenfell has utterly routed. the Dervishes at Wadelajami. Twelve Emirs and filieen hundred Arabs were killed, [Where this massacre took place is the home of the Arabs, their native country, to them the dearest spot on earth. And Christian England thanks God, from whom all blessings flow, etc., etc. What humbugt-Ed., Hongkong Telegraph.]

LUZON:

MADRID, July 26th,

LOCAL AND GENERAL. THE P. & D. S. N. Co's extra steamer Shanghai, from London, left Singapore for this port at 6

ACCORDING to, the Manila papers, information has been received there that chalera is raging in large districts in the north of China,

Ocean Steamship Co.'s steamer Bellerophon, from Liverpool, left Singapore for this port yesterday afternoon, and is due on the 12th inst. THE departure of the O. & 0, 5. 5: Gaelic has been postponed until Monday next, swing to the temporary withdrawal of the City of New York for repairs at San Francisco. The next steamer from here will be the Belgic, which will leave on the roth September.

We'llke plain English, and always, when possible, prefer to call a spade by its right name. And we have no intention of putting on kid gloves to deal with Mr. E, R. BELILIOS and his Chinese associates. After the conclusion of the Report and Statement of Accounts business, Mr. Yu SUI WAN opened the ball for the clique by asking question rethe Insurance of the Company's steamers-a question which, at that state of the meeting, was out of order and ought not to have been answered, the more especially as the questioner had actually seconded the Jardine, Matheson & Cn, declined to accept a seat Chairman's proposition for the adoption at the Board, and a Chinese gentleman, Mr. Poon Pong, who possesses exactly the same amount of of the Report and Accounts, But even influence overthe Canton river trailie and exactly after declaring the meeting closed, Mr. the same amount of knowledge of the manage- RYRIE actually allowed a discussion to inent of a steamboat company as his co-directors, take place, and a proposal to be put to that is to say name at all--was appointed to the meeting and adopted which may the vacancy. Mr. Poon Pong's directorship was result in serious consequences for the a sop to Cerberus, a sort of left-handed conces shareholders. Was the whole business sion to oblige the Chinese speculators already

Quien referred to, and to check-mate a threatened quietly "squared" beforehand?.. opposition on the Camon river under Celestial sabe! It looks very much like it. But let auspices. Well, the resolution to double the us go on. Mr. SIN ASIN or SIN TAX FAN and confirmed, we don't know which is the gentleman's capital was duly carried but somehow the project has hung fire, correct description, por does it matterpm. on the 5 h inst, and the juntation has not risen to 300

then got on his hind-legs and made cent. prémium. This shows that even "the per cens are not always infaillible. But quite some idiotic reference to the Chairman's a new phase has been lately introduced by an "masterly and impressive speech from announcement that at an extraordinary meeting an oratorical point of view," that jackass MESSRS. Butterfield & Swire inform us that the of shareholders to be held on August 3rd a Bight of hyperbole doubtless being' care- special resolution "that the Company may from fully set down in the oration that had time to time reduce its capital" will be brought previously been prepared for the occasion. forward. If the increase of capital was such an The fact that Mr. RxRIE's speech was absolute necessity and advantage as set out by the Hon. Mr. Ryne on May 18th, when proposing neither masterly nor impressive, and from the resolution, what is the use of this latest an oratorical point of view was absolutely after-thought ? It suggests preity plainly either beneath criticism, did not apparently that the increase of capital project has been matter to Mr. Sts Astx; he had his task to weighed in the balance and found wanting, or get through, and like a dear old poll-parrot that it was originally brought forward for a he meant to do it. And he did as only a The Spanish loan to the Philippines of fifteen certain purpose, and, that purpose having been hall-educated Chinese cap when he attempts million dollars, approved by the Government, served, the time has arrived when arrangement to explain to men of business matters with but postponed on account of the scenes in the are necessary that it may be decorously shelved

which he has only the most superficial Senate, will carry interest at the rate of five per at the first favorable rspportunity."

The absolute accuracy of the foregoing acquaintance. Mr. Six ASIN's cut-and-cent and two per cent. on redemption by the remarks and inferences was clearly enough dried address-evidently concocted by Deposit Bank at Manila. The postponement much-needed works in the shareholders in the Steamboat Company a lawyer-was about the weakest and Philippines, but it held on Saturday last; For some years most transparent piece of fudge that completed next year. past the meetings of this Company have has ever been foisted on a public meeting unfortunately been associated with pro- in this colony. But it apparently served A prospective saving ceedings, initiated by the Directors and the end intended. supported by their touts and toadies, of.a. (on paper) of $30,000 per annum would character that is a discredit to the com- naturally have the effet of Cocreasing mercial 'morality of the colony. But we the value of the Steamboat Company's question if anything, not even the never-to- shares in the open market. Running non- be forgotten and scandalous attempt of the insured vessels anywhere is admittedly man who was then Chairman of the Board great risk, and one that, no properly and trustee of the shareholders to illegally conducted public company would under dispose of the Company, to a well known take, but in this movement all risks local firm, can approach for audacity and were gally ignored, and for one purpose bare-faced impudence the attempt made It has been notorious in the colony for on Saturday by the Chinese speculators months past that the solicitors' office in This Tonic is strongly recommended in all referred to above, aided and abetted by a which Messrs. SIN ABIN and Yu Sur WAN rather to the surprise of those who said "Good-

prominent member of the Board and his are clerks or partners or something else, ragtag and bobtail following, to maintain has been the head-centre of Chinese the 'scrip of the Company at the ridiculous speculation in shares, and that the rate it has been quoted in the Share Jackdaw orator of Saturday has been one of the leading operators in several of Market, for weeks past. The mask was boldly thrown off, and Messrs, SIN ASIN, the sensational "booms" which have BELILIOS & Co. succeeded in carrying a so upset our commercial equilibrium. An agreeable preparation of the Sulphate of proposition abolishing the Insurance of the Will Mr. Si Ast deny that he had any Quinine in combination with Eminently useful as a Tonic in cases of Debility, Company's steamers. The ridiculous new thing to do, either as agent or principal, resulting from Fever, enervating effects of cli-issue of shares had quite failed to realise with the "corne" In Steamboats so the sanguine anticipations of the Chinese successfully rigged some three or four male, &c.

speculators who had so cleverly rushed up months ago? Will he also, now that he the stock to ridiculous prices and "got has posed as a public man, tell us for left; it was therefore necessary to find whose hand he is fighting so hard to drive some new scheme to stop the decline the Steamboat Co's shares to a fictitious which all the dodges of the "bulls" had value before the end of the present month?

TASTELESS ELIXIR

OF..

CASCARA SAGRADA,

.

Mr. Woolley :-I see in the report of Mr. Becher that he says certain portions of the property have been let out as planting can. cessions. May I ask what is the nature of

these concessions, and if they a ́e likely to bring in revenue to the Company?

The Chairman-They will bring in revenue, no doubt; he has made arrangements, as will be

acco.

Mr. Woolley-You don't know what has been done?

The Chairman-No, Mr. Becher hair not sent us any particulars; it was done only just im- mediately before he left. I should have been glad to have been able to give you any information, but we shall very soon have it, and then it will be put in your hands. ing how far the report dates back, to ask

Mr. Legge: It is hardly worth while, consider any questions about it, but still I may ask In the second paragraph it says that the working account amounts to $14,424, of which $12,408 have been dis bursed at Sunghie Dua, mostly in advances, to

and it is hoped that most of this will be recovered from them. I should like to know whether this money was advanced to the miners with or without security ?

one or two.

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|

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the public that telegrara always, or frequently, come mutilated?

The Chairman-They vo come'sà (wice. Mr. Legge-What did you do yliby them? The Chairman-Wa..kepezilien-you can see them. If there is anything worth knowing I daresay you will know it as soon as anyone alsa.

Mr. Legge-You used the word "probably " course I understand that it is a matter of proba very very often indeed in your address; of

bility whether things will turn out right or wrong, but whether successful or unsuccessful such references as you made to that Australian gentleman, are nothing to go by. We want facts, not probabilities.

The Chairmani-Oh! well, that was merely an opinion,

Mr. Brandt-1 sec that the tin mining concessions in Sunghie Dua are being worked practically now; are any earnings appearing in the present half-year?

The Chairman :-Well, we hope they will now.. Mr. Brandt-But at present there are no actual earnings 7-

The Chairman There are some, but they are not very important.

Mr. Brandt: As I read the report I under- stand that you intend to go on energetically with the development of these concessions ?

The Chairman 7-Yes.

Mr. Brandt :-Can you tell us how 'many Chinese you have at work at the present time ?

The Chairman :-Only about filly, because the man who has taken charge has not been there more then a month-perhaps two; he only went up after Mr. Becher left.

Mr. Brandt-Do you intend to attract a good many more Chinese ?

The Chairman :—Yes; we intend to get a

good many there.

Mr. Brandt Then there are prospects that' during the present half-year there will be some catuings from that source. There are quick returna.

The Chairman-Yes, Mr. Watson bas get some good returns from bis own place. Those belug all the questions, he then moved the adoption of the repost.

Mr. Dodwell seconded, and it was passed. That concluded the business.

+

THE CHINESE CLUB ROBBERY.

At the Police Court this morning before Mr. H.. E. Wodehouse, six Chinese, four of which answered to the names of Lai Chu, Kum Yang, Ma Po, and Chun Kai and two others were charged on remand for robbing the Chu Hing Loong Club, No. 78 Gulzlaff Street. There were produced three rusty daggers, and a few inrge rolls of papers connected with Chifa and Pak- kap di lotteries. These had been found on the premises at the time the prisoners were, arrested. The first witness called was Lo Kwai who said :-

Acts as a "Tonis Lixative” and establishes verified at the half-yearly meeting of some addle-headed solicitor who is not will delay ma is hoped that the loan will be miners, and in stores and provisions for them, ten men in all, came at a little after seven o'clock

regularity in chronic Constipation.

In Bottles $1 and $1.50 each. WATSON'S

VIN DE QUINQUINA. This Wine possesses the tonic and anti-febri fuge proprieties of the well-known Cinchona Quinquina or Jeanit's dark, combined with the

strengthening qualities of the finest Port Wine.

Prepared from the finest sele ted Bark and a blend of our well-known "Invalid Port," it is an invaluable sunimer tonic and appetizer, especially adapted for use of Convalescents from Malarial In Bottles $1.50 ench."

Fevers, and other climatic discases.

WATSON'S

QUININE AND IRON TONIC.

diseases characterized by Anemia, Weakness, and for promoting and restoring a healthy appetite and imparting strength and vigour to the system.

In Battles $1 and $1.50 each, WATSON'S

AROMATIC QUININE WINE.

Aromatics.

"' Price $1 per Boltle. A. S. WATSON & CU, LIMITED. THE HONGKONG DISPENSARY,

Hongkong, China and Manila.

AN inquest was held by Mr. H. E. Wodehouse at the Magistracy this afternnon to inquire into the cause of the death of an Indian constable, Peer Bhoy. P. C. No. 613, who died in the Government Civil Hospital on the 4th inst.. apparently from blows given by two scavengers on the roth ultino. From the medical evidence adduced the deceased appeared to have met his death through some sort of cerebral complaint, probably inflammatory and the secondary result of a blow on the head.

Mr. Wodehouse ncroringly gave the finding that "Death resulted from the blow of a stane

on the head, thrown at the deceased wblic engaged in arresting the prisoners,” CAPTAIN DEANE is coming back in November, hve" to him last March. He will be weirome. His administration was not free from faulis, but it was about as good as could be organised. under the conditions here. Major-General Gordon has made a fairly efficient Zacum tenens, but his system partakes too much of the "soldier-pidgin." For instance, in-day at noon Sikh constable was punished for a fault by being made to patres the Station compound with his rifle on his shoulder, just when the sun was at its hottest. No doubt he was a lazy Frascal who deserved hazing, but the punishment meted out was more likely to make him if than improve his discipline.

AND still another fold China hand' gone over to the great majority. Captain Garceau, who died this afternoon at his residence in Jubilee

Loong Club and the

I am the accountant of the Chu Hing man who reparted On the robbery at the Police Station. the "night of the 5th instant, four of the prisoners, numbering in the dock one, two, three and four, in Company with several others about

| and displaying swords and firearms commenced to snatch money from the table at which a game of P'ai Kou was then going on. The money $46 being taken, the whole gang started down stairs. I am also a sbareholder in the Club, These prisoners are members of a disreputable house called Kwang Kee at Upper Lascar Row. The Grst, second and third prisoners are members Mr. Legge Then you have some security 7 of Kwang Kec.They said so themselves, ' I. The Chairman :-We have that nature of never saw them until the night of the robbery." security; all the security, under the circum-I do not recognize the fifth and sixth prisoners, stances we can get.

The Chairman :-It is not advanced to. them individually, but through what they call the mandores, that is to say towkays, or

headmen. They are responsible for it.

•

Mr. LeggeDo you think it is good security The Chairman -Fairly good.

nor can I recognise any of those of the gang that escaped. I recognize the first four because they kept guard over me with swords. The mea assets you have "Manager at Punjour, $4,232; They took nothing more with them. Three Mr. Legge: We will pass over that then. In the did not stay longer than a quarter of an hour.

do I understand that the manager is owed that were armed with swords and one had a revolver. or owes us?

No. one prisoner had the revolver. The other The Chairman -It is as manager that he three had swords.. The rest the gang were owes it. It would have been better inserted in unarmed. They said that they only came to the cast-in-band account.

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"Po Ts'ou" or take their revenge. Those who had swords säid so.. We did not understand

| what was meant by this. - That is all tha;, was said by them. The prisoners were then asked

24.

failed to prevent, and this short-sighted If Mr. Stn As cares to justify the position Street, has for many years been well-known in i distinctly, directly, and correctly as it was pos- ac with two dy and fire arms. There were

The Hesabang Belagap

that could be avalled of.. Mr. BELILIOs is

credited with having discovered this new method of economy, but strangely enough, although seconding Mr. SIN Asin's motion, he lacked the courage to say a single word in its favor. Consistency is certainly not one of that gentleman's qualifications.

behalf or on behalf of the Chinese Hebraic syndicate he apparently repre- sented, we gladly offer him our columns for the very desirable explanations indl. cated in our remarks; and we also take this opportunity of congratulating Mr. E.

HONGKONG, WEdnesday, August 7, 1889.

In an article dealing with the affairs of the Hongkong, Canton, and Macao Steamboat Company, Limited, published in our issue

There are a few special points in of July 20th, we commented as follows:- connection with this meeting which call There was a time, and not so very long for some remark. We shall deal with ago, when this flourishing business was chiefly them in the best of good humour, and let regarded as a sound and useful commercial the second-class Directors "-heaven Investment; the shares were widely circulated bless their Innocent hearts-down as and, with the exception of one large holder, who had the credit of owning about two thousand lightly as possible. The Hon. PHINEAS in our opinion, the only one who got shares, were generally held in small lots by all RYRIR occupied the chair and introduced anything near a practical solution of

R. BELILIOS on his new associates.

At present we do not propose to discuss the insurance question at length. A more favourable opportunity will very shortly arise. We may say, however, that of all the speakers on the subject at Saturday's meeting Mr. F. DODWELL was,

Southern China. He served for a considerable | sible to do so.

As com-

Canton, and was credited with knowing as much as any man living of the coast of Hainan and the Gulf of Tonquin. mander of Monsieur Roque's steamer Namvian.. Captain Garceau traded for a number of years between Hongkong and Haiphong, and it is not too much to say that his abliities as a first-class sailor, like his personal popularity, have never been surpass d. For some months past Captain Garcean has been seriously ill, and his death, at the comparatively early age of 48 years, was not unexpected. He was a galant French gentleman who leaves numerous friends behind him. The funeral will take place to-morrow morning; friends are invited to meet the hearse

at the Monument at o o'cinck,

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to ask whether we have only a report up to the Mr. Legge 1 suppose it would be quite fair 30th December last

The Chairman-Were you here then? Mr. Legge-Yes,

Mr. Legge Has he that money in hand. The Chairman-Yes, all that has been accounted for in subsequent accounts.

Mr. Legge-We have no subsequent accounts. If they bad anything to say in defence of The Chairman-It has been accounted for- this, charge. The third and fourth prisoners. we are satisfied with the accounts. In proof of | said that the charge was a false one as pong i it they are our possession. It is only a balance of them belonged to Kwang Kee. The second in hand. We have to send him $5,000 at a dime, prisoner said we have but lately anived. with a guard, as it would be very expensive in Hongkong and do not belong to Kwang Kee." The next, witness called was Fung Wa sending him weekly remittances in a place which it takes so long to reach. The Government | Chuen, he said -1 was a draper in. Canton protects our remittance", and we have to pay for but am now general manager of the Chi the guard.

Hing Loong Club, No. 78 Gurzlaff Street. On Mr. Legge :-Why don't you give me a straight | the evening of the 5th, shortly after 7 o'clock, answer to a straight question i

some robbers came while we were playing The Chairman replied that he had Cone'so as | Pai Kou on the first-floor of the house. I was banker in the game. The robbers came armed storey to our building.

There is no third about eight or ten meo.

They rushed into the room while we were playing Paf Kou. When they came, they displayed their armsj the first prisoner was armed with a revolver, but the second, third and fourth had swords. with them. The first prisoner on entering the room, called out, "Faki Cheong oh !" or "Rob away comrades?" and the others com- menced to snatch at the money lying on the table. We did not even move. There were $46, lying then on the table. The money belonged to the Club. As soon as they had snatched the money, they commenced to run down the staircase; As soon as the robbers. had gone I sent a foki at once to report at the station. The men all ran away together," These four prisoners that were armed kept guard“ over two of us, the rest of the company hed run.

doubt about it. I assure you the accounts are belonging to the club then there. Í'aball-be able in band now up to March.

to identify the rest of the gang if I see them again. Mr. Legge:-Well, now we will come right I recognize the first four prisoners, but I can not down to the present day. You have a new the Rib and sixth. These four men ran away capital of $200,000, fully subscribed, I believe? with those who had laid hands on the money.

The Chairman:-All but $685.

Those who snatched at the money ran away Mr. Legge:-May I ask what disposition has first. These four prisoners went last. I have seen been made of that capital? I don't want actual | the first-prisoner before, but not the others.-- details.

I am sure I have seen the first pitsoner somer The Chairman $15,000 have been spent where on: Queen's Road. I have not seen the out of the $200,000 up to now.

the other before, Mr. Legge: Did you lay now, in speaking to the Secretary, that some of it was spent on account of a new launch 7

The Chairman-Then I really can't say more. We are powerless to compel men to do their duty at Punjom, and it takes a considerable time to communicate with them if there is anything wrong with the accounts—sometimes it is 'two | months before we get an answer.

Mr. Legge;-But this is nearer nine months The Chairman-Very true, but new capital has been raised and fresh men engaged, and the accounts have been postponed--the work of | preparing them was postponed.

Mr. Legge :---You any very likely in two or three months we shall get the accounts up`to

The

?

classes of the community. That time is not now; the Report and. Statement of Accounts. the problem. "If we are to continue THE PUNJOM AND SUNGRIE DUA | June Chairman :-I don't think there is any away in fright. There were only two of us

the preponderating 'influence of the leviathan The veteran invariably means well, his holder was bound to make itself felt, the grasping intentions, like his commercial honor, maw of the unscrupulous share traficker was are always far above suspicion-which quickly introduced, and during the past few very few wholesale holders of director- years there have been as many "riga" and rogueries in connection with Steamboats as with ships in this flourishing colony are-but any one of the most notorious gambling stocks he nevertheless seems to have lost that in the list. The last (not the latest) more in firm grip over business matters for which this direction stands unsurpassed for barefaced audacity, alike in its conception and its successful carrying out."

insuring," said that gentleman, we must endeavour to do so at a cheaper rate.":" That is the keystone of the whole matter.

SAMANTAN MINING COMPANY, LIMITED.

To leave off insuring altogether would be The half-yearly meeting of the shareholders suicidal, and to continue to pay such of this Company was held this afternoon at the exorbitant rates as five and four-and-a-pices, Queen's Road: Mr. W. G. Brodie

(Chairman), presided, and there were present- hall per cent. is simply encouraging | Hon, C. P. Chater, Mess. W. H. Ray, T. E. he was distinguished in former days, extortion. Any marine Insurance agent | Davies, D. Gilles, H. L. Woodin (Director), W, F. Dodwell, E. B. Jorey, C, A. Ozorio,

E. J. Hughes, Soares, Fredericks, O.

little doubt that the once dashing RUPERT" a risk on such vessels as the Hoxam, Powan, A.

The Chairman ;—Yes.

Mr. Lerge-What have you done with the insurance money for the old one ?

The Chairman :—It is carried to the account, Mr. Legge And as far as you know we have between $100,000 and $170,000 The Chairman :--Yes, be

There would indeed appear to be very that knows his business would gladly takety, E. J. Coxon, A. Woolley, W. C. The modus operand/was simple and effective. The "bulls," who are said to have been chỉ A is becoming a mere cipher where he was and Falshan at per cont; the other Brandt, J. F. C. da. Roza, &c., and A. O'D.

These were the only witnesses for the Club/ well-known Chinese speculators, are credited

once a leading figure, a feeble reflex of floating arks are not worth considering, as Gourdin, (Secretary),

Wong Ching,P.C. No. 210, said, on the 5th inst. with having succeeded, by what means we know the sturdy old gentleman who had an their aggregate value can only amount to a The Secretary having read the notice con-

at about 8 p.m. while I was on duty at the Station, not, in obtaining a pledge from a very large opinion of his own and was never afraid trifle, still a difficulty might arise as to thevening the meeting,

the first witness and about seven or eight persons. holder of the stock that he would not place any to express. Times change! On Saturday Insurance of cargo when the ships are The Chairman said:—I suppose we may take

came to me and reported that a robbery had of his shares on the market, the said large holder Mr. Rynig stated that, în hin view, when carrying their own risks. When Mr. S. the report as read. The Directors would have

- taken" place. As Inspector, Quincey was not thus becoming a sleeping partner in the projected

a company's report was a good one the Asis was holding forth about such rattle wished to have placed these figures before you

present at the time, I went with first witness to #corner." The actual strength of this arrange-

less said about it the better, and to show traps as the. Kiukiang, White Cloud, and some time ago, but things, so far as accounts

find Mr. Quincey,hich I did at Man Kos Lao.. ment will best be understood when we state that

We then went together to house No. 18, Upper more than one half of the Company's shares,

how much he actually belleved In the King-chow being "first-class risks" he were concerned, were not at all in a good state when Mr. Becher got to Punjom, and it was part

Lascar Row, and mounted the first floor. -1 according to current belief, are absolutely con- proposition he had advanced, he then was talking mere allly gabble, that had of his duty, besides his professional work, to get Mr. Legge :-Now to come to the more took witness there to identify the prisoners. ~All trolled by two individuals, one of whom is the calmly proceeded, with rare consistency, evidently been dictated by someone who these books up, and it was a very hard duty, internal working of the concern is it true that six were either lying down or siting I turned gentleman who so obligingly promised to "sit to make a very lengthy oration, which, we knew as little about the subject as himself. Indeed, to him. Since he took them in hand-certain member of the Board had not seen the up the light and asked: witness to identify the on" his shares and not spoil a good thing. The think, reads very much like a special Who are the legal advisers of the in fact some months ago-he has been able plated notice until they received it through men. He did so. He recognized at once. Nos, other person may have also been in the swim, defence for high-rate insurances. But Steamboat Company? Where were they to send us the accounts which are now before the post?

The Chairman Peilectly true. One to four inclusive. On searching the room

In which the then were, we found in a „drawer, but on that point we have no reliable knowledge. surely, after going so far, the worthy and what were they doing on Saturday? you; they would have been then presented to Singularly enough about this time a report got Chairman ought to have gone a little We have preferred to briefly discuss the new share capital and a good deal of work in the communications have been received and dealt flat. We knew by report that the house had a bad you but there lntervened the necessity of issuing Mr. Legge--And that frequently letters, and three swords. These men had rented the whole them, had formed a project to increase the capital farther? By a reference to his friend salient points of the discussion on the office here was the consequence, That, I may with before some members of the Board bave character and was a regular resort for all the of the Company from $800,000 to $1,600,000, by Mr. BELILIOS, he evidently knew that Insurance question, as we think it advisable say, was the cause of at least two months' fur-seen them toget desperadoes coming from Canton. The plice the issue of forty thousand new shares of $20 another “plant” had been arranged, that the light of truth should be let in ther delay. Mr. Becher has since been able to for The Chairman :-I am not aware of §, was also a shop where they dealt in Chi-fa and each, at considerable premium. The truth | and that an attempt was to be made to on proceedings which are only too open ward that department very considerably, and the Mr. Legge understand that such is the Pak-kap-più Lotteries. We found no money of this report was soon placed beyond doubt, and completely overturn the business system to suspicion; but the whole of these accounts are now in very much better order, common belief, at foresee on the premises. On being charged by me although nobody with any pretensions to

The Chairman I may say that when losters for being concerned in the robbery none Composed increase of capital, its effect on the has flourished for the last quarter of a Mr. SIN ASIN was entirely put of order in from two to three months from now The current presence of all the directors that come to see fifth and sixth pelsoners sald We have any fust share market, was startlings. It was not quite century-and yet he merely indulged in bringing forward his resolution without accounts are going on satisfactorily, so that it is them, and not until then, dato come in to sleep for the night, la The last two clear in what way this new scheme was to purposeless generalities. If Mr. Raxis due notice, and its adoption was illeye! | very unlikely you will have any futura experi- 1/2 Mt. Leggs-Is it or is it not a mis-statement by men were not kantlled by Any oneg

into circulation that the Directors, or some of

commonsense could sen the slightest necessity for under which, the Steamboat Company proceedings were simply waste of time, and I may tell you that, the next half-yearly from Mr. Becher arrive they are;opened in the of the prisoners i said anything, but the

account will very likely be in your hands