1890-02-24 — Page 2

Intimations.

DAKIN BROS. OF CHINA, LIMITE D,

CHEMIST S

THE DISINFECTANT SOLUBLE CRESOL EFFICIENT

ECONOMICAL NON-POISONOUS

NON-CORROSIVE.

ONE part to one thousand of water forms a

strong reliable Disinfecting solution that removes noxious odours by destroying all conta glens matter, and are sting putrefaction.

It purifies and sweetens desins, latrines, cesspools, &c., while it will not injure persons or

fabrica,

FOR THE BATH.-Cresol is the cheapest, miest and most agreeable Disinfectant known, It will be foundriest refreshing and invigorating in the bath-or a tea-spoonfuls to to gallons of water.

Sold in 8 on and 16 oz. Bottles and 1 gall and 5 gall drums.

[

(Telephone No. 60.)

Nos, 12 & 24, QUEEN'S ROAD CENTRAL.

Hongkong, 24th February, 18ga.

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BY APPOINTMENT.

THE HONGKONG TELEGRAPH, MONDAY, FEBRUARY 24, 1890.

In the House of Commons Sir W. Harcourt moved that the publishing of the Pigott letters was a breach of privilege, but the motion was rejected.

PORTUGAL PREPARING

At Lisban decrees have been published order Ing the defences of Lisbon to be put in order, and the army to be reorganized, the cost to be covered by the issue of bonds.

LOCAL AND GENERAL,

THE appointment of Mr. Reinhold Friedrich Lammert to be clerk to the Pulsne Judge, wit Mr. G. J Philippo resigned, is gazetted.

Mining Co., who has been on a short visit to MR. W. DUNMAN, the manager of the. Jelebu Singapore, returned to Jelebu on the rath inst. MESSRS, Butterfield & Swire inform us that the Ocean Steamship Co.'s steamer Orestes, from Liverpool, left Singapore for this port on last Saturday, and is due on the 1st proč.

A

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CORRESPONDENT states that the roads to the Panjom rainer have been greatly improved, and excellent bridges have now been built to facilitale the conveyance of the Company's machinery.

A REGULARConvocation of St. Andrew's Chapter, No. 618, S.C, will be held in Freemasons' Hall, Zetland Street, this evening, at 8.30 for 9 o'clock precisely. Visiting companions are cordially invited,

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1.

THE returns of the number of visitors to the City Hall Museum for the week ending Feb. 23rd. are: Europeans 192, Chinese 1,956; total, 2,148. THE Straits Times of the sath inst, says :-It is reported in Singapore that the Italian steamer Rebilant, from New York bound eastward with a full cargo of American petroleum, is either stranded or has become a wreck just off Penang. The only information that we can find as to the truth of the report is a telegram which was sent to contained in a private frm last night; the Harbour Master has not at present been acquainted with the supposed loss of the Robilant, and the briefly worded telegram does not permit of much reli- ance being placed on the report before it can be confirmed-Since writing the above it is reported that the loss of the Robilant has been confirmed; also that she was bound to Hong. for coals. The vessel is alleged to have kong and Japan, and was to have called in here foundered just off Pennag; no live lost.

THE FIŞK (UBILEE SINGERS:

After the concert given in the City Hall on Saturday night by the Fisk Jubilee Singers we can begin to realise what the bithene fabulous North American angel sings like. There was a fairly large audience, and a very well pleased one. There are ten Fisks, and they are spread ing melody over the Far East on their own account, after having raised ever so many thousand pounds in the dim past for the benefit of a college for something, somewhere. They give full satisfaction. There are three sopranos, two contraltos, two tenors, and as many bass voices, and their voices blend as beautifully as their shades. Their strong point is part-songs, which composed the bulk of Saturday night's pro gramme. The selections were not particularly classic, inclining more to the quaiet melody with which the amiable African beguiled his evenings away "befo' dewah,” but they also sang The Bells-admirably, and the way the " Te Deum" was rendered was simply grand. "Mr. | Tur Government Gazetle tells us that the time-Loudin, gentleman with an uncontrollable honored Central Schoot will in future be officially known as the Victoria College. This piece of first-class humbre is one of the monuments of Sir George Bowen's senile administration of the colony.

THE deaths registered in the colony for the month ended January 31st totalled 333 Of this number the Asile de la St. Enfance was respon A. S. WATSON & CO., LD. sible for 52, the Italian Convent 36, and the

Tung Wa Hospital 64.

ESTABLISHED AD, 1841.

MANUFACTURERS OF AERATED

WATERS.

· OUR AERATED WATER MANUFACTORY is replete with the best Machinery, embodying

all the latest improvements in the trade.

The greatest attention has been paid to appli auces for ensuring purity in the Water-supply, to secure which we have added a Condenser cap- able of supplying us with 3,000 gallons of distilled water a day, and are now in a position to compete in quality with the best English Makers. Our Sweet Waters cannot be surpassed anywhere,

The purest ingredients only are used, and the utmost care and cleanliness are exercised in the manufacture throughout..

LARGE BOMBAY

"SODAS".

We continue to supply large bottles as heretofore, fres of Extra Charge, to those of our Customers who prefer to have them to the ordinary size.

COAST PORT ORDERS, whenever practicable, are despatched by first steamer leaving after receipt of order.

FOR COAST PORTS, Walers are packed and placed on board ship at Hongkong prices, and the full amount allowed for Packages and Empties when received in good order.

Counterfoil Order Books supplied on applica

tion.

Our Registered Telegraphic Address is, "DISPENSARY, HONGKONG," And all signed messages addressed thus will receive prompt attention.

L

The following is a List of Waters always

kept ready in Stock :-

PURE AERATED WATERS

SODA WATER

LEMONADE

POTASH WATER

SELTZER WATER

SARSAPARILLA WATER

LITHIA WATER

TONIC WATER

GINGER ALE

GINGERADE,

No Credit given for bottles that look dirty; or grensy, or that appear to have been used for any other purpose than that of Containing Aerated Water, as such bottles are never used again by us.

A. S. WATSON & Co., LIMITED, Hongkong, China, and Manila.

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The Hongtang Teletaph

HONGKONG, MONDAY, FEBRUARY 24, 1890.

TELEGRAMS.

BULGARIA.

LONDON, February Icth. The situation at Soña is critical. Official in quiry confirms the existence of a plot to dethrone

the Prince.

WE are glad to learn that the entries already received for the Hongkong Athletic Sports are so satisfactory that a first-class meeting may be confidently relied on. Intending competitors who have not yet sent in their names are reminded that the entries close on Wednesday next, the 26th inst.

THE. Shanghai Mercury learns that a renewed effort is about to be made by all the Foreign Ministers at Peking to obtain an audience with the Emperor, to congratulate him upon the completion of his first year's reign. The Ministers will send a joint despatch to the Tsung-li Yamên with the request to forward it to the Throne.'.

r.

We would specially direct the attention of our local Directors and Auditors to an article from the Financial News. published in another part of this issue. After the Races-like the community at large our Financial Editor is completely gone on griffins-we shall have something to say on the very important subject so ably dealt with by our London contemporary..

WE said in Saturday's issue that money wis extremely tight. Yesterday we met a man who wouldn't believe it. The proof-confirmation strong as proofs in Holy Writ :-Mrs. Bellos is raffling a lot of jewely, $3 a chance! By the way, we may add that owing to circumstances over which we have no control the office goat must be sacrificed shortly-251 shares, at gi each. He's dirt cheap, too, whoever gets him

THERE will be a match at Polo, R. A. v. The World, on the Race-course to-morrow, com- mencing at 4.30 p.m. sharp. The sides are

mouth and a voice, of unknown depth, sang "Rocked in the cradle of the deep" as it should be sung, and in response to applause that would not be denied, convulsed the audience with a laughing-song. Miss Addie Johnson also sang From over the sea" to the extent of an encore. A second concert is to be given to- morrow night, and as the stay of the wandering minstrels depends on hearty public support, we

strongly recommend their detention here" long as possible by appreciative residents..

THE CHINA FIRE INSURANCE COMPANY, LIMITED.

41

I hope that at no distant time the sources of revenue from this new sphere of the Company's operations will racet expectation. It is equally agreeable to me to say that the premia income a searly all Agencies shows a steady increase, in spite of close competition and a downward ten dency in, rates, and this says much for the energy and activity of the Agents to whom the Com pany's interests are entrusted. The year 1889. I regret to say, hardly shows such a favourable blance in hand as did 1888 at the same time Inst year, owing to a variety of losses, but I hope that eventually results will not be disappointing. In addition to the $55.6146 shewn in the state. other claims pending of which we are unable to raent for 1989 as having been paid, there are determine the amount at present, for instance, the magisterial enquiry into which is still pro in the case of the recent fire in Lyndhurst Terrace. ceeding. Now, gentlemen, I would not like to close these remarks without taking recording the thanks of the Directors and advantage of the opportunity afforded me of General Managers of the Company, in which I' feel sure the shareholders will readily concur, to the Volunteer Fire Brigades in Hongkong. Shanghai, and Yokohama, who in the past have rendered such efficient services to the local companica and to the public in general. It is impossible to over-estimate the value of their services to the public at large. I do not think these remarks, but before proposin, the adoption there is anything which I can usefully add to of the report and accounts I shall be glad to answer questions which shareholders may wish to ask me.

Mr. Bird seconded, and it was adopted. Mr. Coxon moved the confiímation of Mr. MacEwen's election to the Board, and the re-election of Messrs. Chater, Moses, Bird, and Davies.

Mr. Gubbay seconded, and the proposition was carried.

Mr. Ho Tung proposed the re-election of Measre. Henderson and Coxon as auditors, and. it having been agreed to, the business concluded.

HỌNGKONG AND WHAMPOA DOCK

COMPANY, LIMITED.

The ordinary annual meeting of the share-

holders of the above Company was held this afternoon, at the offices, Praya Central. Mr. Poesnecker presided, and the Hon. J. J. Keswick, Messrs. W. H. Forbes, B. Layton, Š, C. Michaelsen, H. Hoppius, E. L. Woodin, F. Dodwell, (Directors) D. Gillies (Secretary) F. Gearg, G. Murray Bain, A. McConachie, G de Champeaux, J. F. C. da Roza, Michact, Perry, cle, were present,

The General Agents beg to submit to the Shareholders their report on the working of the Company's business, with a Statement of Ac-. counts for the year ending 1st December, 1889. The Refineries have been weiler ploved during the year and in consequence of the high range of prices ruling in the consuming markets, the results of the working are the best which the Company has ever been able to show.

Inclusive of $12 000.07 brought forward from 1888, and of $150,000 paid as an interim dividend of $10 per Share on 26th August last, the balance At credit of Profit and Loss Account i Consulting Committee recommend should be $36,873.95, which the General Agents and appropriated as follows, vit :-

26th August, Interim dividend of $to per Share Dividend of $15 per Shire, making

Sas for the year; Carry forward to next Account

$150,000.00

215,000.00

11.873.95

$385,873.95

the morning's work was to leave the Derby, Valley Stakes and German Cup very open events. Although the course was decidedly sticky in some parts it afforded fairly anund f not fast going. There was a large attendance in the enclosure, including several ladies.

Salute, Mr. Reynell up, "opened the ball by galloping the German Cup course in 311, 57.1.41, 2.1 and 2.54. finishing in racing form, although the prny's inck of condition was manifest.coming down the straight Norman (Mr. S. Walker) led and easily defeated Timaru (Mr. Reynell in a mile-and-a-hall gallop, the latter going in very indifferent style the latter part of the

race or

journey-times, 14, 110, 145. 2.20. 2.53. and 331. Leap Year (Mr. Hough) was sent two miles, Orlando (Mr. Eastan) Joining in st the Derby starting post. The Intier's times for a mile and a ball were 338, 68, 142), 3.18, 2.54 and 3311, the big chesnut pulling double over "Crappie" and cattering at the finish. Silken Mend strode along by himself for a mile and a hall at a steady pace, (time 3291) and this In view of the increasing nature of the Com-game pony is quite likely to win a pany's business and its probable development in two during the meeting. the future, the General Agents' with the approval of the Consulting Committee, determined in April Bolero (Mr. Townsend) and Yarrum (Mr. last to extend the East Point Refinery, at an Hutchings) were sent a mile and a quarter in estimated cost of $70,000, and advantage is being company, but after racing for six furlongs carry out the work, which will shortly be com taken of the stopoage for annual overhaul to the anchors were dropped, and the pace from the Black Rock was a mere canter. The picted. The capacity of the Refinery will then griffin moves in fine form, and must be marked be increased by about ene-third, the cost of dangerous for the Valley and German. His production reduced, and the general position of record this morning was 32. 651, 1.43, 7.2z and the Company materially strengthened for acom-2.591. Pao-shing and Fidget, light weights paratively moderate outlay,

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The General Agents regret that there is no prospect at present of working the Swatow Refinery to advantage,

PROPERTY ACCOUNT,

The amount at debit has been decreased by the sam realised on the sale of the remaining portion of the property at Wanchal, and increased by the cost of the new iron beams referred to in the last report and by various additions to | machinery and plant during the year, amounting

in all to $9,9°9 09.

CONSULTING COMMITTEE. -

resigned his sent upon leaving the Colony, and During the year Mr. E A. Solomon has Mr. D. R. Sassoon has been invited to join the Board.

STEAM LAUNCH.

The steam-launch Clyde having brcome unfit for use owing to age, the General Agents decided to transfer, the engines and boiler in a new hull mare suitable to the requirements of the Refinery's business; this has been done at a cost of $4,800, and the new vessel will, it is anticipated, prove a serviceable addition to the plant.

AUDITORS.

The Aeraunts have been audited by Messrs. Thomas Amold and Fullarton Henderson and the General Agents have pleasure in recom- mending the re-election.

JARDINE, MATHESON & CO.,

General Agents. Hongkong, 22nd February, 1890.

BALANCE SHEET. 31ST DECEMBER, 1889, Capital and Liabilities, Paid-up Capital ........................$1,500.002.00 Sundry Creditor...ker ..... 1.904,148.69 Balance of Profit & Loss

Accoust.............*386 873.95 Less Interim Dividend

paid on August 26th, 1889 @ 10 per cent

150,000.00

The Chairman said: The report having been in your hands lor some time we will with your permission take it as read. The returns for the six months, I regret to say, are less fas orable then they have been for some years in conse The twenty-first ordinary meeting of the share-quence of the very few vessels that were in want holders in this Company was held at noon to-day, of ducking, and also owing to our workshops at the ofices, Victoria Buildings. The Hon. being only partially employed during the P. Rytic presided, and Messrs. W. H. Forbes, months of July, August, September and October, S. C. Michaelsen, L. Poesnecker, B. Layton, Indeed the lack of business prayed so bad that H. L. Dalrymple, and H. Hoppies (directors), on two occasions the Kowinon and Cosmopolitan and A. McConachie, S. G. Bird, E. Jones Hughes Docks were empty for eleven days consecutively, C. A. Ozorio, R. Lyall, G. Murray Bain, J. H. and Aberdeen oly docked two vessels in the THE "wrigher at the Taikon Refinery was in

• Course of three months. These periods of the dress circle at the magisterial matins to-day. Cox, K. A. Chinoy, etc., were present.

The Chairman said that, he thought the depression. are not exceptional, as they h về The head and front of his offending was that he

accounts would be characterised as satisfactory, ormed mere thi no ce since the Company was had given customers extra weight when serving

as they showed a steady increase in the Com-lotined, and you will readily understand that they orders, in consideration af varius little company's premin, but as the list for 129 was affect our profits to a very large extent. During shaws. When detected he had made a trifling greater than that for 1888, that was only to be the last two months of the year, however, a great mistake of 100 piculs in respect of some molasses, expected. The accounts for 1888 were new improvement has taken place, as both docks and now he is out on heavy bail.

closed, by the final payment of $3 per share, and workshops have been fully employed and making the dividend for the whole year 36, with the returns very satisfactory. In the statement the usual bonuses. $50,000 would, with the share of accounts you will perceive the manner that the bolders' permission, be added to the Reserve Directors recommend for the disposal of the Fund, which would then amount to $700,000 $100,000 carried forward from the last half-year, (Applause. There had been a very heavy Part of this sum has been absorbed in giving you decrease in the percentage of losses, compared a dividend of five per cent, $50.00 to be written with the previous year, which was extremely from the value of machinery, boilers, pumps and satisfactory, but at the same time they must not caissons, and $5,00 from the value of steam

Assus. be too sanguine--fires might come in thick upon launches, The wear and tear on the plant them, for sometimes they had done for a long enumerated is very great, and as one or two Property Account, consisting of →→→ period and then there came a sort of epidemic, boilers at Kowloon and the caisson at the

East Point Refinery... just as with the marine insurances-sometimes Cosmopolitan Dock will probably have to Bowrington Refinery..................... they had a good year, sometimes a bad one. be renewed in the course of from two to three Swatow Refinery The 1889 accounts shewed an increase in premia years the Directors consider that this deprecia- Hongkong Distillery.) as compared with 1988, se be had said, but not |tion ought to be provided for. The steamer Extension Account..... a very large increase-under so per cent, of the Fame, you will also note, has been sold to Hongkong & Shanghai Bank premia collected. That could scarcely be called the Government, causing a loss in the Com. Cash....... large. They would probably have already learnt pany's books of $3,613.31. The object in view in | Stocks of Raw and Refined Sugars, that the Company had withdrawn from the reconstructing the steamer was to have tendy

*_***................................. Volunteer Fire Brigade, which had since broken at hand a vessel adapted to the purpose of Spirits and Rum.................. up, That was a matter of regret, for they owed salvage operations, but unfortunately since the Coals, Charcoal, Stores, Fire Insu the members of the brigade a great debt of Fame was refitted no opportunity has occurred rance, fc.................................... gratitude for saving the Company from a great of utilising its services, and as the cost of up. Sundry Debtors.................. deal of loss, and it was an interesting occupation keep and interest on capital accumulated to Shipments. for the young gentlemen belonging to it, if it considerable amount annually it was, in the did not keep them out of their heds too many present position of our finances, considered nights. As far as he could say at present, the advantageous to dispose of the vessel, even at abolition of the Brigade had been a saving, but a small loss. At our last half-yearly meeting he was a little doubtful whether it would be a some discussion was entered into with regard permanent one. They must make the Govern. to increasing the Company's capital in To ment keep up the paid Brigade, and not allow order to pay off the large overdraft due Shanghai Bank. the men to fall into careless ways. He thought to the Hongkong and that he ought, on behalf of the Company, to You are aware the Directors were not in accord some acknowledgment of the assistance favor of this policy, as in their opinion a large of the Volunteer Brigade. for their long and capital is more likely to be a source of weakness valuable services (Applause). As the share than of strength. Therefore, they prefer to tako holders were aware, the Shanghal fire-engine the safer and sounder curse of writing down our bad been sold to the Municipal Council. In liabilities as occasion may offer until they By accordance with custom, the list of the Com approximate more nearly the amount of cur pany's securities had been carefully gone over by subscribed capital, However, seeing that this the directors, and found satisfactory. Although cannot be attained so quickly as we desire, and there had been a fair number of fires in 1890, that we have to pay on account of the they had been pretty fortunate, for now the meat money borrowed a very large amount for dangerous part of the year was over, and they interest to ameliorate this heavy burden, had only had $4000 to pay in claims. It was to be the Directors are now making efforts to hoped that the Chinese festivities were now over, obtain the money on more favorable terms. and the damp season fairly set in.He then A few weeks ago a letter was received from the To moved the adoption of the report and accounts. Chief Manager of the Hongkong and Shanghai Mr. Gaskell seconded, and it was agreed to. Bank asking the Directors to transfer the amount Mr. Gaskell proposed the confirmation of Mr. of the Company's overdraft to the Hongkong Hoppius' election to the Board, which was done. Land Investment and Agency Company, Limited, Mr. da Roza proposed the re-election of Messrs. and it is to enable us to do so and to make some Michaelsen and Layton as director,

alterations in our Articles of Association that the extraordinary meeting has been called for Mon. day next. There is nothing of importance to communicate with regard to the "Filipinas," but the Directors hope that the case will be de cided very shortly. The current year has com; menced most favorably, as during the whole of, last month and this, both docks and workshops have been very busy--the proft in January amounting to $28,153 Before moving the adoption of the report I shall be glad to answar any questions-There being nose, he thes: moved the adoption.

R. A.

Major Fletcher. Captain Reynolds, Captain Hawkins, Mr. H. Woodcock.

THE WORLD.

Captain Robinson. Hon. G. H. Willoughby. Mr. J. Armstrong

Mr. T. H. Whitehead, There will be a pick-up game afterwards,

WE hate to point out the enterprising things in our evening contemporary, but Saturday's illustrated issue is so distinctly original that we will sink professional Jealousy, and gasp our admiration of the genius which has at last con trived to invest the leading article with interest, It is only a simple subject-the Praya Reclama tion scheme-but oh {"how restful to the reader to come across banked-up squares of black, relieved only by a descriptive D. pointing out the error of the Government Idea to an expics: sionless W. Only a compositorial mind, could have conceived it, and it does so help the cald. type theories which embalm it.

contemporary states that some time ago the A LETTER from Tientsin to a Shanghai native Viceroy Li Hung-chang placed in Mr. Tong King Sing bands some funds to construct Prince Ferdinand has offered to abdicate, but a railway from Lin See to Dong Koo, in connection with the Kaiping Coal Mines. But the Ministers are opposed to this and bave at that time the funds were insufficient, so the resolved on vigorous measures. The garrison road was only laid for about ten 5, and more of Sofia has been changed and commanding capital was required in order to carry it to Dong officers are required to renew the oath of Koo, a distance of about to miles. The Viceroy allegiance.

PORTUGAL AND ENGLAND.

February 11th. The Portuguese Royal Family have given £19,000 towards the formation of a National Defence Fund, ·

has now placed given Tis, 300,000 of Govern- ment money to the railway authorities to be employed in making the necessary extension. Work will be commenced at once, and when this connection is finished, the Kalping cols can be easily transported to the market for isle.

Mr. Murray Bain seconded, and it was carried. The Chairman proposed the re-plection of Messrs. Cox and Lyal as auditors,

Mr. Forbes seconded, and it having been agreed to, the proceedings ended,

سية

HONGKONG JIRE INSURANCE CO., LIMITED,

The twenty first ordinary meeting of the shareholders of this Company was held this, ANOTHER idol shattered! Failing health and afternoon, at the officers of the general managers, increasing cares have long prevented our staff Mesars. Jardine, Matheson and Co. The Han. -J. from taking more exercise than an occasional Keswick presided, and there were present-Hon, H.M.S. "CONQUEST."

turn-up with the pet lama and the congenialC. P. Chiter, Hon. A. F, MacEwen, Messi, S. G. H.M.S. Conquest' is badly ashore at Pemba. relaxation of an hour's wrestle with the office Bird, J. 8. Moses, G, S. Coxon R. Gubbay Waterbury. And now-as a reference to the W. Parlane, T. Arnold, J. J. Bell-Irving, C. Á. THE OPENING OF PARLIAMENT. advertising columns will show-the Mitsui Ozorio, J. F. C. ds Roza, J. Feerbhoy,

February 12th,

Bussan Kalsha are sowing the seeds of lassitude Byramjee, K. A. Chinoy, Ho Tung, Ho Kim The Queen's Speech reheames the outlines of by offering a new variety of the world-reapped Tong, etc.

time-keeper which windsup in about a brace of the dispute with Portugal, and the various acts shakes, sets the fingers from the winder, and committed inconsistent with the respect due to whews the seconds. It is 82 dearer than the old the British flag. It states that Portugal has now style, and to busy men'it is worth twice that promised to withdraw her forces from the British The old reliable forty-foot spring' sort is still obtainable for boys to swell around with Settlements,

aed analyse, but the Intest type is the Measures were announced for land purchase, one to go in for. And the new "Lady's and local government in Scotland.

Waterbury is a veritable gem, considering It is quite small, beautifully The House of Lords adopted the Address, in the money. reply, Lord Sallsbury announcing that the got up, has all the virtues of the production just put on the masculine market, and would be prospects of the ratification of the Sugar Con cheap at $10-which it more than twice the vention are less favorable than they wore, amount demanded for it

Mr. Rozs seconded, and it was agreed to. Mr. Murray Bain proposed that the election of Mr. Keswick and Mr. Hopplus to the Board be confirmed.

Mr. do Champeaux seconded, and it was carried,

Mr. Georg proposed the re-election of Messrs. Woodin and Davies, the retiring directors.

Mr. McConachie seconded and I was carried. The Chairman moved, and Mr.Hopplus seconded, that Messrs. Arnold and Foster be re-appointed auditors, which being agreed to the proceedings then concluded.

CHINA SUGAR refining, COM. PANY, LIMITED.

The Chairman said :-Gentlemen, I propose to take the report and accounts as read, unless I am required by you to do otherwise. I think I may congratulate the shareholder on the very satisfactory statement of accounts as presented to you on the present occasion, enabling us, us they do, to pay a dividend of $23 per share, and place the full amount permitted by the Articles of Association to the reserve fund, which I am sure every shareholder present will agree with me it is. The following is the report for presentation to prudent to do in the interests of the Company, the shareholders at the Annual General Meeting, I am pleased to inform the shareholders that to be held at the offices of the General Agents, our business in the United Kingdom is steadily at 11.30 am, on Thursday, the 6th March, developing in the most desirable directions, and, 1899 gi

11

236,873.95 $3641,022.64

$1,205,701.20.

12,127.45 94.132 51 4.289.55

1,545,529,53 5.633.21

274,218.04 49 450.04 419939/15

$1,641,022.61

PROPERTY ACCOUNT. Balance at Debit on grst Decem

ber, 1888.................................$1, Paid for Addition to Machinery, &e,, at East Point and Bow- rington Refineries .............................

Amount received for proceeds of sale of the semajning portion of Wanchal property.$ Balance at Debit..

9989.09

$1,297 613 62

91.9 2.42 1,105 63.62

$1.297,613.62

PROFIT AND LOBS ACCOUNT. Commission ...........................inos Remuneration to Consulting Committee jy... n Auditors' Fees

H

**

By

Interim Dividend of 10 per cent. -paid on the 26th August, 1889

Net Balance..,

Balance of Perfit and Loss, carried from last year...................... Interest Account

Nel gila on Working

32,383.06

up, covered two miits in 448)-last half mile 1.10-the first named winning easily at last, Volcina, ridden by Tientsin, wentamile in 34, 67, 1.41, and 2.14, finishing in most resolute fashion, Home Guard was ridden by Mr. Pond in a strong mile and three quarters' gallop-times for, Last mile and a half 35%, 110, 1.44. 2.19h, 2.55 and 3.28. Leander was "powed" a mile and a quarter with Arabic (Mr. Read) and Skipjack (mafoo up), the old ponies racing right away from the griffin and beating him easily by half a dozen lengths. Arabica record reads 33, 641, 1-39, 2.141, and 2.48, Leander's full mille and i quarter occupying 250). »

Wild Sage ("Horse" and Wild Mint (Mr. Meurant) galloped the Derby course in 34. 60, 1.42, 2.15, 2.51 and 3.251..the griffin winning the "pow" very cleverly. Dancraggan (Mr. Essten) and Imurls (Mr. Hough) were spun out over the Derby distance in 33), 65, 1.41), 2.18),- 255 and 3.338, the dun having a bit the better of the finish. Waldo (Mr. Sassoon) was a couple of lengths in front of Chaser (Mr. Maclean) over six furlongs in 198, 64 and 1.38, but the dark grey had taken a fot out of himself before the start. Musket, in company with Laufer, Dye-see, D'ye-understan', and another pony I failed to make out, "powed" a mile and a balf in 3 34, Mr. Sykes' pony.coming clear away from the crowd in the last furlong. Ma- terialist (Mr. Read up) galloped à mile in 34 67, 1.41 and 2.15, and the Derby "crack's" style of finishing greatly disappointed his numerous supporters.

Enticer (Mr. Machado), accompanied by Escort, encompassed the Derby distance in 321. 66, 1.40, 2.143, 251; and 3 26, finishing by him- self. Keep Tryst (Mr. Collingwood) galloped a mile and a half, Lochinvar leading him the last For a mile and a quarter Vernal (Mr. Hart mile-times, 36, 69k, 1.41, 2.20, 2.58 and 333- Buck) and Valour made 41, 1.19. 1.55, 2.30i and

2.02.

Fair Sport (Mr. Maclean) ran away from Childe Harold in a mile and a quarter “ pow”—- 'timer, 32, 65, 1.38, 2 113 and 247. › The griffin, however, made up a lot of ground in the straight and finished in most resolute fashion. Llygodan (Mr. Read) and-Don John were sent for all they are worth over the Valley Stakes course, Claudio joining in half-way up the bill. The last named won the trial from Llygodan by nearly two lengths, but the duo's time record-33, 64 and 1.361-is about. good enough to win the first Subscription Griffin: race of the meeting. · Don John was tailed off.

Camaru (Mr. Reynell), Tasma (Mr. Colling-

and another pony wood), Thunderbolt, whose identity, I failed to discover, galloved a mile ard a quarter in. 343, 68, 1.42. 2.21 and 259 Haben "chipped in" with this crowd at the mile post and beat them by about twenty lengthx. • Deveron easily beat St. Cyrus overthe, Valley Stakes dittance 'in 'a shade under 1.40. fiulshing very gamely, Entertainer (Mr. Maclear) raced away in front of Enchanter (Mr. Sassoon) over a mile and a half, winning very cleverly in 318, 1.04, 1.39, 2.15, 7.52 and 3.27. Mullingar easily beat Coonsipyn, but I did not time this pow." Golden Hope and Kwlrefshan't went jogether a mile and a quarter-six farlangs 1 40, one mile 2.14, fill distance 2.50. Venturous came away by himself in a mile spin with Volunteer and the lame Voluntary, but the time (2.19) is hardly good enough. I ❝ clocked " Salipetre and Senegal 34. 67), 1.41, 2.15 and 2 50l for a mile and a quarter, the pair making ...... A close finish, Mr. Hart Buck rode Valentine a sharp half-mile spin in 32 for the first quarter and 63 for full distance, the little grey finishing in splendid form, and this racing-like pony in likely enough to prove a thom in the side of one or two better favorites in the Valley Stakes.

Sonnenstrahl, mafoo up and going by himself, registered 35, 68 1.44, 2.19, 2.54 and 3.27) for a mil and a hall Good Hops and Total Loss "covered the Gemman Cup dlitince in 355, 117, 47 2.21 and 357, Hotspur managed to beat Pedro Blanco in a half-mile trial, but I missed 2,500.00 the winner's time. Ali Baba (Mr. Maclean) was $00.00 several lengths faster than Bluter (Mr, Sassoon) over a mile and a quarter, but the timos-33, 35,383.05 65, 1.39 2.791 and 2.50-could scarcely have been' satisfactory to the noble owner." Myth 150,000.00 was steered by Mr. Maclean over the same distance in 3ri, 63, -1,361, 1.13 and 2.48). ∙185,383 06

Athol Brose joined in at the mile post but could, 230.873.95 not live the pace, First Venture leading the Tientsin champion down the straight. Rayon d'Or (Mr. Collingwood)" powed" three quaniers in' 33, 651, and 1.39. finishing in much better style than he has yet exbibited. With a few moje fast gallops this handsome little bay would take a lot of shaking off in the Valley Stakes. Enterprise (Mr Machado), Enthusiast (Mr. Mclean). and Encore (Panch) were irled over aix furlongs, the first named winning easily at the finish in 31 15th, 647 and 1.387. Surewind, ridden by Mr. Sassoon, covereda mile in 31, 64, 1.38, and 2.116, and it will take a flyer to beat

speedy racer in the Ashley Cup.

AN OLD SPORTSLLAN, Hongkong, 24th February, 1890..

$ 422,257.04

-12.100.07

101.03/

409,963.91

8411.257.03.

Hongkong, aand February, 1890.

JARDINE, MATHESON & CO., :

General Agents. 54 We hire examined the Books and Vouchers of the Company, and certify that the above Statements are fu accordance therewlili.

THOS, ARNOLD,

Auditors. F. HENDERSON, J

TRAINING NOTES.

THE. FINAL GALLOPS..

The winding-up gallops afforded very little informailos of a sensational character, the fast. times so confidently antidpated in many quarters being conspicuously absent. More than one prominent favorite failed to give satisfaction when put to the test, and the generni revolt o

AUDITORS AND THEIR Dieber haFUNCTIONS.

!! We have already commented upon the impor- tance of requiring a thorough-going audit of any and every account or balance sheet relating to the finance of a building society." The sufficiency of such accounts must depend to a large extent upon the efficiency of the man who andits them. As incompetent suditor is worse than none at all because there are many people who will be obliged to take his abilities, not to say his integrity, for granted, and who may be induced by his siganturs to suppose that everything