1890-06-28 — Page 2

Intimations.

DAKIN BROS. OF CHINA, LIMITE D

CHEMISTS.

AERATED WATES.

Our Plant comprises the latest improvements, and is one of the most complete and efficient ever shipped from England..

The Purity of the water is certified by analysis. The construction of the machinery and system of manufacture in the force ensures cleanliness and absence of all contamination in the finished

waters.

The quality of the Soda Water is equal to that of the best English makers.

The Flavour of the syruped waters is equal to any produced in England or abroad.

DAKIN'S AERATED

SARSAPARILLA.

Our make of this popular beverage is not merely a flavoured water, but is prepared with an extract of Sarsaparilla root manufactured in

our own laboratory.

Price, sa cents per dozen,

(Telephone No. 60.)

Nos. 22 & 24, QUEEN'S ROAD CENTRAL.

Hongkong, 14th June, 1890 WINES AND SPIRITS.

'BY APPOINTMENT,

A. S. WATSON & CO., LD

(ESTABLISHED A.D. 1841.) HONGKONG.

TE invite attention to the following old WE invite Brands, all of which are of ex- cellent quality and good value for the money..

The same being specially selected by our London House, and bought direct from the most noted Shippers, are imported in wood and bottled by ourselves, thus enabling us to supply the best growths at moderate prices.

In ordering it is only necessary to state the name and quantity of Wine or Spirit wanted, and initial letter for quality desired.

Orders through Local Post or by Telegram receive prompt attention. FORTS. (For invalids and general usi.)

For dosa

CALL. Fer BoL. A Alto Douro, good quality,

Green Capsule $10. $1,00 Vintage, Superior quality, Red Capsules

12

C Fine Old Vintage, superior

quality, Black Seal Capsule 14

D Very Fine Old Vintage, extra superior, Violet. Capsule (Out Bottled) x450

***** 18

SHERRIES.

A Delicate Pale Dry, dinner... wine, Green Capsule......

C Manzanilla, Pale Natural

6.

B Superior Pale Dry, dinner

wine, Green Seal Capsule...7.50

CC

Sherry, White Capsule 10

Pale Superior Old Dry, Natural Sherry, Red Seal

10

Palc

Capsule..

D Very Superior Old

Dry, choice old Wine, White Seal Capsule.

E Extra Superior Old Pale Dry, very finest quality, Black Seal Capsule" (Old Botlled)

CLARETS.

ទ

14

:

1.10

THE HONGKONG TELEGRAPH, SATURDAY, JUNE 28, 1890.

The Hongkong Lelegraph

HONGKONG, SATURDAY, JUNÉ 28, 1890.

TELEGRAMS.

THE SILVER BILL.'

LONDON, June 25th. The House of Representatives has rejected all the Senate's amendments, and the Bill has been returned with a request for a Conference Com mittee to be appointed.

(From Manila papers.) THE PHILIPPINES.

MADRID, June roth.

A powerful company. formed to exploit the electric lighting of Manila, have applied to the Minister for Foreign Affairs for permission to do

30.

·LOCAL AND GENERAL.

THE man who looks after the Oplum Farmer's one who seeks an explanation on any point he stock was among the penitents over whom Mr. does not understand. You observe that the Robinson ran the rule, at the Police Court, this Working Account shows a credit balance of only morning. For a long time the manager, Mr. $7,218,41, after paying an ad interim dividend Kob, had suspected him of pilfering from the of $1 per share, which is unsatisfactory when stock, but the method pursued by the man, the gross receipts of $203,000 is taken into.com- rendered it difficult to fix his guilt upon him. sideratior; but I trust the future may show the He had charge of from $100,000 to $150,000ponsibility of doing better. The heavy rental worth of oplum,, and by taking lofinitesimal of the West Point Godewas, amounting to quantities from each pot he was able, undetected, about $40,000 per annum, will not again be to abstract a considerable quantity daily. Last incurred in its entirety after the 30th just evening, however, he was seen to do so by Mr. and I hope that by cconomies in various Kob, and arrested with some $20 worth in his ways it may be possible to earn more satisfactory possession. He admitted his guilt, and is now dividends hereafter. As you will observe, the balance of working account transferred to profit on remand.

and loss account brings the credit balance of that account up to $421,344.33, which large sum is made up of the profits on the sale of the P. & West Point property andof two pieces of reclaimed land and an estimated value of a certain residue of frontage land reserved by the Company. There may be a difference of opinion as to whether the dividend of $1 per share, which it is now pro- posed to pay, should properly be paid, seeing that the Company has not actually earned it in its legitimate business, but as, the balance is one without liabilities I dare say you will accept the Directors' recommendation. The accounts to 31st May, you will be glad to know, give good promise for the current year, and the absence of claims for damage by rain which was so serious last year, amounts this season to little or nothing. It does not occur to me that I can add anything to what I have said, but before proposing the pleased to answer any questions as far as lies in

THE Tokyo Shimps states that it is the intention of Mr. Arao Sei, a gentleman who has interested himself greatly in the trade between Japan and China, to open an exhibition la Tokyo of goods fitted for that trade, and also to hold meetings for the discussion of means for developing it He believes that no better time for this could be relected than the present, when many commercial people have been drawn to the Japanese capital in connection with the Exhibition. He will be assisted by varios Japanese and Chinese, who are versed in tradal conditions, and will explain the articles of export and import that are to be shown, as well as furnish information that may be of value in remedying the present depressed condition of commerce. Under certain conditions any one was invited to send samples to Mr. Arao's to open' a Commercial School at Shanghai, and by the aand inst, hoped to finish the examination of some 500 candidates for admission, natives of

and by the shareholders to make a thorough investigation of the accounts.

THE BARRADAS," CASE.

THE METHOD OF THE DEFALCATIONS.

Z. M. Barradas was brought up on remand, before Mr. Wodehouse, at the Police Court, this morning, on a charge of embezzlement. Mr. Jobnaon, Crown Solicitor, prosecuted, and Mr. Caldwell, of Messrs. Caldwell and Wilkinson, defended.

Mr. Johnson, in opening the case, paid that the prisoner, who had been many years in the employ of the Postal authorities, was charged with the embezzlement of over $50,000. It would be proved that he had stolen the money in a very ingenious, manner, making one Trea- sury receipt on various occasions serve two purposes, by erasing certain words and adding others. He (Mr. Johnson) did not propose to occupy the time of the court with evidence res- pecting each item in a long list of defalcations, but would merely prove three or four in order that a committal to the Criminal Sessions might be obtained. The charges against the defendant were brought under the 36th section of Ordinance VII of 1865.

TUR lea ex Parthia was delivered in New Yort exhibition up to the 25th inst. Mr. Arao intende adoption of the report and accounts I shall bear any other shatchelder, to refer to the several occasions. The prisoner was an old

on the 25th inst. TO-DAY is Coronation Day. The war-vessels of

which our readers are part-owners, duly banged away at noon to notify the anniversary, Business did not stop worth a cent, though.

ון

THE two sampan-men in whose boat a lare quantity of opium was discovered on the night of the 21st inst, were before Mi. Robinson this morning, and fined $50, for having exhibited no light on their boat on that night.

the western provinces, who were going to Tokyo for that purpose. Only 200 can be admitted to the school, and the successful candidates will depart for Shanghal In August.

my power,

the

We

Ocean Steamship Co.'s sleamer Nestor, from to wit His Excellency's box. We inquired and fees there remains only $2,675 for distribution. be carried forward as a balance to profit and debit side of the books shewed orders issued and

MESSRS. Butterfield & Swire inform us that the Liverpool, left Singapore for this port yesterday morning, and is due on the 3rd prox. Diomed left at 9 a.m. to-day, and is due on the 4th prox.

We are informed by the Agents (Messrs Ambold, Karberg & Co.) that the China Shippers' Mutual S. N. Co.'s steamer Pakling, from London and Liverpool, left Singapore for this port on the 26th inst, and may be expected on or about the 2nd prox.

TO-MORROW morning between 9 and 10.30 o'clock the steam-launch carrying the Bethel 1.25 flag will call alongside any vessel hoisting code pennant to convey men ashore to tl am

service at St. Peter's Seamen's Church, returning 1.50 about 12.30

0.75

14

THE "At Home" held by the Stanley crowd at the City Hall last evening was attended by the largest and most appreciative audience we have seen for a long while. All the world and his wife were there to beam and be beamed on, as were also a couple from another sphere who occupied that place around which all those who are beautiful and bright hover on a show night were told in bated breath that they were the The Dowager Duchess of Tealeaf and the Countess of Ruedegage, out for the evening, incognito. An A. D. C. watched from a distance, but there was no occasion for his se vices. The management showed good judgment by deciding to give a Variety show, for it is in this particular line of business that the Company is seen to advan tage. In fact we believe it was with this object that the best talent in the crowd was recruited. Last night each one performed in his or her own especial line, with the result that the success of the whole was far beyond anything achieved by the Company yet. As we are more inclined to be gallant than critical well take the girls first. The ballads of Miss Ada Maitland and Miss Amy Childs were an agreeable surprise, the former especially singing with much taste and feeling, while the seria-comic songs of that really clever little lady, Miss A. Santley, were rendered in a most bewitching way. The appeat ance of this fair artitie at any time causes quite a flutter in the bosoms of many sighing swains, but last night the havoc she wrought was awful to behold. Miss F. Stanley also sang a rather taking ditty, and for it received a well merited round of applause, and last, but not least, comes Miss Fiorrie Stephenson, the cleverest dancer in the crowd. Miss Florry is a bright little lady and bids fair to became star of the first magnitude-In the dancing line. The uigger business of Mr. Tommy Empson was really good, although some of his jokes and gags were the same chestouts that tickled the ribs of the patriarchs of old, but his singing and facial contortions were those of a first-class artist in the nigger line of course. Mr. Frank Fletcher's "musical specialties" were a feature of the evening and stamped him as a man who could knock music out of prison bars. He is decidedly a musician, although in his voice and acting there is so much room for improvement that we fear the span of life allotted to mortals is all too short to allow him effect much change in either. Mr. Clarence Lyndon had a chance to shine last night and he made the most of it; his clever and gracefal dancing simply brought the house down. Mesurs. Packard, Liddlard, Boyd, and the veteran Mr. Stauley each contributed to the success of the show. We hope the reception they met with last night will induce the manage ment to shove opera overboard and give a repetition or two of last night's show. "Tambour Major" to-night, and we sigh in a sympathetic way to think how many flutterers will be there to beat time to the drummer's tattoo.

0.60 We learn from Canton that, owing to arrange ntents concluded by Sir Robert Hart, the Chinese Imperial Maritime Customs will take over the collection of all duties on the importation of colton-yarn and kerosene. It is further reported that a very considerable reduction in the tariff will be made.

1,00

*1.00

1.52

I'er Case. Per Cass.

don. Quarts.

A Superior Breakfast Claret,

Red Capsule....

B St. Estephe, Red Capsule... 4.50

C St. Juliennen

D La Rose

BRANDY.

7

. Per dos,

Case,

$12

A Hennessy's Old Pale, Red

Capsule.......

B Superior Very Old Cognac,

Red Capsule

14

C Very Old Liqueur Cognac

Red Capsule.............................. 18 D Hennessy's Finest Very Ol

Liqueur Cognac, 1872 Vin- Lage, Red Capsule

SCOTCH WHISKY.

*** 24

A Thorne's Blend, White Cap-

sulc

B Watson's Glenorchy Mellow Blend, Blue Capsule with Name and Trade Mark..... 8

C Watson's Abelour-Glenlivet, Red Capsule, with Name and Trade Mark.........................

s doz Finu.

WE learn'en good authority that the whole of the treasure, amounting to $87,000, which went down with the steamship Yangtze off Haeshin Island on the 14th inst, has been salved, and that there are good prospects of the 114 chests opiums and most of the general cargo being recovered within the next few days.

CAPT. 3. Metcalfe, so well-known for many years in Hongkong as commander of the White Star $4.50 liter Oceanic, arrived at San Francisco from 5.00 England on May 28th. He has taken over the 7.50 duties of Lloyds Surveyor at San Francisco, 12.00 with his headquarters at the Canton Insurance

Office, for which Company he is also surveyor.. Fer Bol

$1.10

THE Japan Herald of June 19th says:-"The German steamer Ashington, in leaving the Yokohama Anchorage this morning, got ashore 1.25 on the Spit, The tide at the time being very low she remained there until 1.30 p.m., when 1.50 she got off and proceeded on her voyage. Had the Captain taken the trouble to consult a chart, he would not have tried to cross the spit half- 2.00.way between buoy and the shore, especially as

the buoy is only moored in 41 fathoms,"

8

0.75

THE O. & O. Co.'s steamship Belgic, which a rived yesterday evening from San Francisco 0.75 with the American mails, brought the following

shipments of treasure to this port

8

0.75

D Watson's HKD Blend of the Finest Scotch Malt Whiskies, Violet Capsule..... 10,

E Watson's Very Old Liqueur

Scotch Whisky, Gold Capsule ra IRISH WHISKY.

A John Jameson's Old, Greea

Capsule...

B John Jameson's Fine Old,

Green Capsule...

C John Jameson's Very Fine

1.00

1,10

Chinese, Moxicas Dollars....................... 57,033.00 16,755.00 Chinese, Gold Coin in spermtepetellagio

600,00 Chinese, Gold Dust m Wella, Fargo & Co., Gold Con... Anglo-Caliorular Bank, Mexican Dollar #3,000.00 Hongkong & Shanghal Bank, Mexican Dollar... 311,000.00

..2011, 101.00

Total............

J

0.75 MR. J. HELENUS FEROUSON, Minister to China for the Netherlands, has just returned to his duties via the United States after a short leave

10

1.00

Old, Green Capsule........ 12 GENUINE BOURBON WHISKY, fineold, Red Capsule, with Name ID" GIN.

A Fine Old Tom, White Capsule.4.50.

B Fine Unsweetened, White

Capsule....

..4.50 ·

°C~ Find A. V. H. Geneva.....................5.25 RUM..

Mr. Taylor:-The directors recommend a dividend of $40,000, which I am afraid cannot the first place because be declared-in

not earned it, and Company have in the second because

have до money with which to pay it. I object to you bringing forward $352,000 to the Profit and Loss account; the only money you have earned is $71,000 from the sale of the West Point property, and against that you have to set a loss of 366,000, which has been realised on the West Point property, and which you have brought into the Reclamation account. You have then, according to my accounts, only $9,175-24 to deal with, and if from that you take the directors' and auditors' Since the accounts came into my bands I have gone very carefully into the figures, and there are so many irregularities that I think it would have been safer, not to pass the accounts in the form presented. I do not know whether anyone has taken the trouble to think out what the figures mean, but I wish to draw your attention to the figures of the past three years-1887-8-9. First of all you have the wages, account for those years--$45,000; $74,000; and $85,000 Crown rent, $13,000, $6,000, respectively; and $9,000; office expenses, $7,000, $6,000, and $7,000 launches and lighters, $7,000, $8,000, and $10,000: claims, $2,000, $3000, and $12,000; and the profits abewa on the Working accounts, $76,000, $93,000, and $46,000. I wish you to take particular note of these profits, because shareholders as a rule do not inquire bow they have been arrived at they are satisfied if the results are good, and are content to take the directors' statement. From the accounts it is easy to make out a statement of the Working account for this year wages, $65,000; Crown rent and taxes, $9,003; office expenses, $7,000; launches and lighters, $5,000; fire insurance $300; rent and taxes of the West Point property, $41,000; directors1 and auditors' fees, $6,500; interest, $31,000; total, $188,000. Against this we have to place $103,000 for receipts, leaving a net profit of $15,000, without making any provision for claims, as you say that this year they are If you had of no material consequence. your original capital the profits would of course have been larger, because you would not have been paying interest on borrowed money, which comes to about $45,000. If your profit this year is only $15,000 it would seem to me that the same explanation is required of the profits of the past three years, which were, in 1887 $76,000; in 1888 $93,000; and in 1889 $46,000. These questions I have set myself to answer. The only way I can make it com

prehensible is by assuming that you have been debiting sums to Property account which should

Working really have gone to

Account.

In 1887 you had borrowed $232,000; in 1888 $307,000, and in 1889 $453,000, on which you paid interest to the amount of $16,000, $21,000, and $32,000. Now where have these Bums gone? They don't appear in this report In the 1887 report you credit Working account with the interest of $15,000, which you say was realised from the money lent on the West Point property. You have to get rid of $16,000 of interest, and I suppose you have done it by debiting Property account. The outside gains in 1879, which did not appear in former years, amount to $6,000. In 1889 you tax the THE HONGKONG AND KOWLOON West Point property with $5000, which does not appear in 1887, although I suppose the condi- ttons of lease in 1887 were not different to those in 1889. All those figures, taken together, Thew that the profits in 1887 were $46,000, instead of $76,000. In 1888 you have to account for $31,000, interest, which does not appear in the working account-on the contrary you credit it with nearly $34,000-that is, you take credit for all the interest you receive and do not debit it with the interest you pay. This would reduce the earnings of 1888 from $93,000 to $60,000, In 1889 you merely credit, the account with $10,000 interest, but I cannot ace where it comes from, because the loans then amounted to $450.000, and the interest would

WHARF AND GODOWN COM...

PANY LIMITED.

DISSENTIENT SHAREHOLDERS,

The third ordinary annual meeting of the shareholders in this Company was held at noon to-day, in the Chamber of Commerce, City Hall The Hon. J. J. Keswick presided, and there were present: Hon. C. R. Chater, `Messrs. W. H. Forbes, E. L. Woodin, S. C. Michaelsen, F. Dodwell, H. Hoppius, L. Poesnecker (directors), A. G. Morris, D; McCalloch, G. S, Coron, C. S.

(secretary).

emount

any

The Chairman---I nás sure we have all listened with much interest to the remarks Mr. Taylor has made, for it is not very often that at these meetings of public Companies in Hongkang we find the accounts have been so thoroughly gone into and analysed. I do not feel that I am able to follow Mr. Taylor in all the details of the accounts, but I may say that on every point where he has any doubt the Secretary will most willingly afford every information. There are one or two points to which he has aliuded which speaking off-hand, might be debated with him, for instance the amount of interest received from the mortgagees of the West Point property, Then again, with reference to one other item, Mr. Taylor said something. I think, to the effect that we had not the money we proposed to divide by way of dividend. As a matter of fact it is a de- bateable question, and one on which many may not concur with the directors whether we should pay in hand. But the properties referred to are mort. any dividend seeing that we have not the money aged, and there cannot be the smallest doubt that the money can be realised on the day of redemption, which is not now remote, I med mention that since the accounts were com leted one of the mortagees has proposed to pay off observe, will immediately place us in funds for at once $60,000, which, the shareholders, will the purpose of paving the dividend. But, as I

Mr. A. K. Travers, Assistant Postmaster said, I do not follow Mr. Taylor in many received his present appointment in May, 1883. General, was then called. He stated that he of the points referred to, but will ask him

He had been acting as Postmaster General on Secretary for details. With reference to what Mr. Taylor said about a Committee of Investi-

employé in the Post Office, who had been in the gation, and not passing the accounts, of course

position of Superintendent of the Money Order His duty as it is my duty as Chalman to ask you if the Department for several years,

such was to issue money orders and receive accounts are to be passed or not, or if such Committee

money for postal orders, on places outside shall be appointed, or if the the Colony. He was also required to sell shareholders think any other action is neces- postal orders, receive money, and cash orders sary. But it must be presented to me in the form of a motion-then 1 will submit it with

from places beyond this colony. The distinction between money orders and postal orders was, pleasure. I can only say, speaking for my.co.that the former might range up to 10, while directors and myself, that it is our desire to give the latter were limited to twenty shillings. The the fullest information with regard to the working prisoner, as Superintendent, would have to pay of the Company.

money into the Bank and hold cash for the redemption of orders drawn on this Post office from other countries. In his department the prisoner had to keep an Imperial Money Order book and write of the entries himself. The the credit side orders paid, and the balance paid into the Bank. A Postal Notes Book was kept entries in it being made by the prisoner in the in the office of the Postmaster General, the

course of his duties. That book would shew sums paid in by him to the Treasury's credit at the Hongkong and Shanghai Bank. There was an arrangement between Hongkong and London and orders issued from this colony. The Hang kong office advised the London Postal authori ties every week as to the amounts for which orders bad been issued. The prisoner should pay into the Bank sufficient to cover the advices of drawings on the Crown agents in London. This system of remittance to the Crown agenta commenced in July 1884. Witness had checked all advices to the Crown agents since . 884 and up- to the 19th of March 1890, the date when the prisoner left the Post Office. The total amount for that period was $401,674-43, for which sum the prisoner was responsible to the Treasury. The amounts paid into the Bank by the prisoner during the said period was short by about $51,500. When paying in to the Bank the defendant would send a meme with the money and get it signed by a clerk in the bank; that document would then be brought to the prisoner, who would fill up a certificate for the Treasury, which when presented would be signed by the Treasurer. At the end of each month there was "Collector's Account" rade out, purporting to show money paid în to the Bank during the month. The memo pro- duced was for sums paid into the Hongkong and Shanghai Bank by the General Post Office on the 8th of November 1888, for $1,019.88. At the foot of it was the Bank's receipt for that sum.

to the Postmaster General to be visid and As soon as the prisoner got it he would send it subsequently both the receipt, and the above named certificate ought to be sent to the Treasury by the prisoner. On one of the documents produced the words "Postal Notes" had been rubbed out. This being so these was nothing to Mr. Wicking, after complimenting Mr. Taylor show that the amount was paid in. On the on the way in which he had marshalled his 17th of November 1888 the prisoner took credit for figures, and referring to the fact that many of $1,255.30. The effect of the erasure on the receipt the shareholders had bought at $200, said that forms was, that prisoner could take double he gave the directors every credit, bat he credit for any specific sum mentioned on a memo, thought they were too busy to give the the receipt doing double duly-as a receipt in the necessary time to the Company's affairs. With first instance for postal orders, and secondly regard to the present manager, he thought as a being made to appear for money orders as well shareholder who had a fair stake lathe Company, The entry in the Money: Order book of the and who had watched Mr. Osborne's work 7th of November 1888 was false. That sum that he should have the assistance of advice had never been paid into the Treasury account in order that more satisfactory results might be as the bank. On the 25th of January 1889 the arrived at He ought, of course, to retain his sum of $3.170.72 appeared, by the documents position, but be guided by those who had had produced, to have been paid to the bank to the more experience than he could possibly have had credit of the Treasury. The said document was at his age, He (Mr. Wicking) was in favor of a incomplete. There must have been some words Committee of Inquiry being appointed, to see after how the Company bad been managed, and put It on a proper basis. He therefore seconded Mr. Taylor's proposal the Committee. He thought there should be an independent examination of the books.

Mr. Taylor-It was only on inquiry from the Secretary that I have been able to acquire these details, and am in a position to offer as an amendment to the report that the sum of $3,175 loss, and that no dividend be declared. I have should have liked you to have had printed and made out my statement of account, which I submitted to the shareholders, so that they might follow my figures. I have been asked how much actual money you have above the amount of S$421,344 to carry forward, and I say you have $5014. That is the money you have to deal with, nothing else; you make up your amount by the profit actually realised. The profit on the West Point property and amount set down for the Reclamation amount to $424,401, from which you take preliminary expenses, $3.057, leaving a balance of $421,344 Now I say you closed the West Point property count by taking over the wharf account of $45.000 and have a loss of $66,549 to deal with. This loss you put into the Reclamation account. The figures should stand thus the Reclamation account is taken over at $544,187, and deducting the cost, $125,000, you have a balance of $419,387, which, with $5,014 in hand, accounts for the sum mentioned in the report. I am afraid I cannot explain things properly but I have tried to do so. Shall I put my amendment now?

The Chairman explained that it should follow the formal motion. He added to prevent mis apprehension, that the price-$45,000-at which the wharf property was fixed, was only that to which it was written down,

Mr. Taylor-I think not.

The Chairman—I ant quite sure, though, that it will be of interest to the shareholders to read Mr. Taylor's remarks.

Mr. Taylor-I think you are wrong about that $45,000, because it appears in your assets.

The Chairman-It was written down from $11,000 to that figure, otherwise the profit would have been larger.

Mr. Taylor--Ob | yes, I follow you now,, The Chairman then formally moved the adoption of the report and accounts.

Mr. Goosmann seconded,

Mr. Taylor-My amendment la-That the sum of $9175, 24, be carried over as the balance to be put to the Profit and Loss, and no dividend declared.

Mr. McCalloch segonded,

The amendment was then' put, when four voted for it, and nine against,

The Chairman then put the second mation appointed to examine into, and report on, the working of the Company's business, the directors to appoint two representatives, and the shareholders two"

|

|

to have funds continually to meet all postal notes

account of" which had been erased. The words were probably "Postal Notes." After diligent search he could find no trace of that som having been paid into the Money Order Account at the bank. There were several more Treasury receipts which had been tampered with in a similar manner to those now handed into court. The entries in the Postal Notes book were written and initialed by the prisoner. Frora those entries it would appear that the sums men. The tioned were duly paid into the bank, receipt for $1,123.87 of August, 1889 contained words at the foot written with red ink which was fictitious entry, and there was no trace of it having been pald into the bank. He could find $1,125.87 in the money order book except for one of $450 on Shanghai, which was decidedly fictitious. It had never been paid into the bank. He had further searched the books

a

of absence in Europe, Whilst in New York Taylor, J, Goosmann, R. A. Gubbay, W. Legge, have gone to Property account. These items, That a Committed of Investigation beall the detailed entries for a sum total of 1.10 Mr. Ferguson was, of course, a mark for the N. J. Robinson, T. 1. Rose, J. M. G. Manuk, irrepressible interviewer. Amongst other thingsW: H. Gaskell, S. Perry, and E. Osborne, 1.00 he told the reporter something about the rail.. ways prospects in the Celestial Empire. "A 0.40 plan of a great railway system for China," said Mr. Ferguson, is now before the Emperor, and a favorable decision is hoped for. The central 0.50 idea of the proposed scheme is the connection of Feking with the capitals of the provinces."

0,40

banaan 12 1.00

Finest Old Jamaica, Violet

Capsule Good Leeward Island...$1.50 per Gallen, The Japan Official Gansira states that at 6.30 LIQUEURS.

អ

Benedictine Curaçoa

Maraschino Herring's Cherry Cordial * Chartreuse Dr. Siegert's Angostura Bitters, &c.

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1

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p.m. on the 13th inst., Rear-Admiral Osman Pasha, the special representative from Turkey, attended the Palace with his suite, and presented the Emperor with an autograph letter from the Sultan and a decoration. At the same time an audience was also granted by the Empress, after which the Admiral and his suite were decorated, At 7 p.m. the party sat down to dinner with the Emperor, to which Princes Komatsu and Fushimi, Count Oyama, Viscount Kabayama, Marquis Tokudalj, Prince Iwakura and other nobles were invited.

Thus the San Francico_Chronicle :-The German Consul Stuebel, who made so much trouble at Apla by his autocratic methods, has been appointed the head of the Consular office in Shanghai. If he keeps up his old record as mischief-maker he will probably set Germany

to $32,000. Therefore I suppose it must so far as they refer to 1887 and 1888, must be passed, because we have already approved those accounts, but so far as the accounts before us are concerned F do not think there The Chairman said:-Gentlemen, the first occasion to pass them.. My contention is that duty devolving upon me is to explain to the you are dealing with profits that will accrue at shareholders, on behalf of the Directors, how it some future, period, and to be consistent you must not. Were I to go to the Hongkong and comes to pass that the Reports and Accounts for Shangba Bank meeting, and ask them to declare the year 185g are only now published, and how as a dividend their earnings for the next three it happens that this meeting, which ought to years, they would report me. Youaredealing with money that has yet to be earned. I do not think have been held in January last, is only now

people in Hongkong expect very much from taking place on the 28th of June. It is always directors, because they know directors are only on the Board in order to give their business. distasteful task to animadvert, especially in a public manner, on the conduct of any one, but I support to the Company, and I myself think it regret to say I cannot explain how the delay in would be injudicious for the directors to interfere with the management. It is in that connection. connection with the accounts has arisen without || that I want to bring forward some references to stating that the Company's book-keeper the management-wor, I should say, mis-manage. absolutely neglected his duty, and has occasioned ment, of the Company's affairs from the first. If I were offered the managership of the Hongkong much anxiety and trouble, His services have bean dispensed with and it only remains for me, this, would you not blame me for it? I do not and Shanghai Bank, and I accepted it, and did on behalf of the Directors, to express regret that blame Mr. Osborne for accepting the position, but as he has accepted the responsibilities he he should have been, unfortunately, selected for

to continue the business it is necessary for both directors and shareholders to put their shoulders to the wheel, and devise some measures of relief. My idea is that there should be a Committee of investigation appointed. There the shipping interest, then the warehousing interest, and lastly the interests the Chinese dealers who take their goods away. Without conciliating all these you cannot make the business success? I think these matters might be better considered in Committes than

Mr. Wicking suppose the directors will not vote on this matter?

Mr. Poesnecker-We are all shareholders. Mr. Wicking-I only mentioned it-I do not know if I was in order in doing so.

The Chairman-There can only be one desire on the part of the directors, and that is to pro mote the working of the Company,

Mr. Wicking--I think we have a right to expect, better results, and that can be gained by

1 an investigation of the methods. I think there

is room for improvement.

The Chairman-I have conferred with my co-directors, and as a matter of fact they are goanimous in saying that they will not on any account oppose the resolution against the expressed with of shareholders.

The motion was then put, and passed three dissentients.

with

Mr.

and discovered that a sum of 31.068.23 for which the prisoner had taken credit was never paid into. the bank. On the 2nd, 1oth, and 25th of October, 1888 the amounts of $1,375.03; $2,693,26 and 8871.00 respectively, purported to have been paid In to the back on account of money orders. All the details marked on the receipts were fictitious and the whole of the amounts had never been paid in to the Bank. Witness had examined all the advices to the Crown agents in London from the 14th of August 1884 up to the prisoner left the Post Office. The loss of 19th of March 1890, the day on which the $44.975.92, which was more than the sums paid in by prisoner to meet the said advices, was dis covered through that examination.

the office. I have now, gentlemen, to turn to the cannot get rid of the liabilities, If you are going Michaelser and Mr, Poesnecker, the retiring they amounted to $349.895.50That

Accounts, which have at last been laid before, you, and in doing so' I am sorry that they are not more satisfactory and that the profits arising from wharfing business have not been more

The Chairman then proposed that directors, be re-elected.

Mr. Taylor seconded. Agreed to. Mr. Gubbay proposed that the appointment of Messrs. H. Hopplus and D. R. Sassoon as

Mr. Perry seconded. Agreed.

and Russia by the ears. There is a fine chance important. The Report and Accopate as set are three separate interests to be considered— | directors be confirmed. Advertisers are requested to forward all notices fatended for for raising a row In Cosea, where all relations before you are not, it has been reinisked to me are strained and Rusaja is suspected of designs od the country. If Herr Stuehal has not very easily understood when taken in connection reformed we may expect to hear from him with the statements of the previous years, which before long. He promises to play in the Ger man Consular service the same lively part that are worded somewhat differently-but I need Sir John Pope Hennessy has played in the not say that the fullest Information will be by the board of directors, and my suggestion afforded by the Secretary, mbit willingly, to any», I le, that four gentlemen be nominated by the board

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British colonial service,

Mr. Wicking proposed the appointment of Messrs C. S. Coxon and T. Rose as auditore,

Mr. Wilcox seconded.'". Agreed, aftal The Chairman then announced that dividend wasrants would be ready on Monday, and the proveedings terminaled,

J. A. Carvalho, first clerk, and carbler of the Treasury, said he was appointed to the Govern ment Service on the 13th of January 1850, He had checked all the payments of the prisoner into the bank from the 3rd of July 1884 up to the 7th of March 1999, and found

corresponded with the Bank Pass book, From the 14th of August 1889, to the 17th of March 190 the amount paid in to the bank was $28,429.69 When he signed the receipt produced it had not, at that time; any red ink writing on it. Evidently the words money order now erased, were on. it when it was wild and algned by him. He held in his hand a receipt for $413.93 which parported to

4

be for money paid into the bank, Some words, probably money order" had been erased from It and its date altered. When be signed 11⁄2 li was not inscribed in red inke in any parti