1890-11-08 — Page 2

Intimations.

DAKIN BROS, OF CHINA,

LIMITED,

DISPENSING CHEMISTS.

WINE AND SPIRIT DEPARTMENT.

THISKY, SCOTCH. F. 0. 5. DAKIN,

WRISH

A blend of the Anest Whiskies produced in Scotland, fully matured in wood before bottling White Capsule &to per dozen, $1 per bottle.

BENAVONA perfectly pure clean spirit with a distinct peat taste; entirely fres from fusal

off or other deleterious substance,

Square bottle, Gold Capsule, $7 per dozen 65 cents per battle.

DAKIN BROS. OF CHINA, LIMITED.

(Telephone No. 60.),.

Nos. 22 & 24, QUEEN'S ROAD CENTRAL

Hongkong, 20th October, 1890,

[52

BY APPOINTMENT.

THE HONGKONG TELEGRAPH, SATURDAY, NOVEMBER 8, 1890.

A REGULAR meeting of the Eothen Mark Lodge of Hongkong, No. 264, will be held in Free masons Hall, Zeiland Street, on Thursday, the 13th inst., at 8.30 for 9pm. precisely. Visiting brethren are cordially invited.

For smuggling 158 taels of opium dross into the colony yesterday by the Hankow, a beathen was fined $50 by Mr. Wodehours at the Hall of Justice to-day. The gentleman had concealed the dress within seven pieces of clothing, which were stowed away in his clothes box,

F

THE P. & O. S. N. Co.'s steamer Rorista Jelt" Shanghai for this port at 9.30 am, to-day. ANOTHER soatch-thief was to-day sentenced to six month's imprisonment, with hard labour, and one thrashing of twenty strokes of the rafton, for watching a woman's oral appendages in. Wellington Street yesterday afternoon.

THE Austrian corvette Zriny (Captain Killet) left port. his moming flying her homeward bound pennant. Her yards were manned with sailors waving small flags very theatrically, and she was heartily cheered by the crews of the British HARVEST Festival Services will be held in St. and Russian men-of-war in port, as she cruised Peter's Seamen's Church on Sunday next, around the anchorage, dipping her colours to her follows:-7.30 am. Holy Communion, 11 am. friends. Service and Sermon by the Cbapisin, and 6 p.m.

Service and Sermon by the Rev. H. E. Taverner. (Acting Colonial Chaplain). The offerings of fruit and flowers, will afterwards, be sent to the Hospital

A STRANGE can of attempted suicide, says the Japan Gazette, is reported from Kobe, Mr. Najima, Yoshira, who was despatched by the Red Cross Society to tend the wounded survivors of the Turkish frigate Ertagsoul, having made an unsuccessful endeavour to take his own life, A letter written by him prior to making the rash attempt gives as the reason of his extraor dinary conduct that he failed to prepare his clinical diary (byashaniki) and that he did not wish such an indignity on the Red Cross Society to become known.

A MASSIVE dome of granite, towering nearly three hundred feet above the water's edge, is, the New York Times says, to be the memorial crected at the grave of General Grant at River side drive. The landscape pedestal, if it may be DURING the past week, freights between Heng. so called, rises 127 feet above the river's level. kong, Bangkok and Saigon have steadily

The structure to be built upon its summit will be advanced; the Bangkok Hongkong rate now

from 160 to 170 feet high, and landscape and standing at 30 cents per picul, firm. Rice con-

granite are to be so joined as to make the memo tinues to pour into Canton from Yangiste (Wuhurial, when completed, a massive and symmetrical pile, to be seen in its full proportions from the river MAX O'RILL gives this prescription for anand Chinklang) Cochin-China and Siam ports;

and a commanding sight from every point of view. American beauty-Take the hair of a Hindu, whilst reports from the chief rice-producing It is intended that there shall be a crypt in the nose of a Greek, the mouth of the English, districts of the province of Kwanglung are most

which the coffin shall repose and which may be (be complextos of a German, the height of a discouraging; the drought, previously reported,

viewed from a gallery ahove, as at the tomb of Norwegian, the feet of a Chinese woman, the continuing, and the prayers of the officials to

Napoleon. There is to be also an outside gallery teeth of an African, the arm of a Belgian, the Jupiter Pluvius, proving of no avail whatever.

from the upper level extending round the base leg of an Italian girl, the eye of a Spaniard, the First quality zice is now up to $3,17 per picul, as of the dome. There will be abundant room for grace of a French woman, and you-have an | against $2 at the same period last year, and as

the display of treasures or souvenirs, and ample American beauty."

the prices are firm stock-holders anticipate an

incentive for decorative detail in the interior as dvance of fully 30 per cent. in present quotations well as outside. In the end the elaboration of the structure and its approaches may well make during the next month.

the tomb of Grout one of the famous sights of the world, Mr. John H. Duncan is the architect.

A SECOND proclamation has been issued by the Foochow authorities probibiting any pig slaugh tering for another five days, in order to obtain from Joss much needed rain, and since October 30th soldiers were seen patrolling the streets with orders to arrest either sellers or The authorities firmly buyers of the meat, believe that it is owing to the neglect and dis obedience of the people that Joss has not yet granted the petition 1

TRANG ON, the Holbow merchant who has been making periodical visits to the Police Court during the past month owing to the fact that Mr. Fielding Clarke, when acting Chief Justice A. S. WATSON & CO., LD. ordered that he be tried for committing wilful perjury at the Supreme Court, ought to bave "shown up" again before Mr. Wodehouse this ESTABLISHED A.D., 1841,

morning, but failing to do so his bail of $1,000 was estreated and a warrant issued for his MANUFACTURERS OF AERATED WATERS.

Our New Factory has been recently refited. with automatic Steam, Machinery, of the latest and most approved kind, and we are well able to compete in quality with the best English Makers.

The purest ingredients only are used, and the utmost care and cleanliness are exercised

In the manufacture throughout,

LARGE BOMBAY

"SODAS"

Arrekt.

•

THE intended establishment of Government

banks, at Foochow for the circulation of ten cent pieces, mentioned sometime ago, lɛ naw An accomplished fact. Two shops were opened in the city on the aand ulto, but as far as we (Echo) can learn, up to date no business Bas been transacted! Besides the silver ten cent pieces, copper and ivory tablets of about an inch brand, and two in length, of the same value as ↑ the silver coins, will also be circulated.

:

THE following eleven will represent the Hong keng Football Club in the match (under Associa tion rules) to be played at Happy Valley on Monday next. the combined R.A. and R.E. Eleven to wear the Clab colors :- Messrs. Gedge, Marshall, Mait-

THx genial and eminently popular tidesurveyor and harbour, master at Swatow, Capt. C. H. Palmer, being under orders for transfer to Klukiang, the members of the Out-door Customs staff met on Monday, the 27th alto., in the Customs Library, to present him with an address and a souvenir, the latter taking the form of

splendid meerschaum pipe. The address, which was printed in gilt letters, was as follows : --"Presented to Capt. Chas. H. Palmer by the Officers of the Swalow Customs on the eve of his transfer to Kiukiang, being a slight token of their regard and esteem for him and an expression of their regret at his departure from amongst them." Then followed the names of the officers present, Capt. Palmer replied in sultable terms, and expressed his high appreciation of the kindness shewa to him. He was sorry, he said, to leave his many friends in Swatow, and hoped that It would not be the last time they would meet. Every one present then individually and collectively wished Capt. Palmer leg life and all prosperity, and with a shake hands all round the very pleasant meeting terminated.

|

THE CHINA-BORNEO COMPANY,

LIMITED.

WICKING ON THE WAR-PATH.

The second yearly meeting of the shareholders of this Company' was held at the Hongkong Hotel at noon to-day. Mr. B. Layton presided, and among those present were Mesirs. D. R, Sas- soon, C. S. Sharp, (directors) E. E. Abrahamson (general manager) W. Judd, A. B; Johnson, C. J. Hirst, H. Wicking, J. J. Francis, G. Fenwick, C. S. Barfi, de W. Layton, S. J. Sassoon, R. Gubbay, S Perry W. Parlane, S. L. Darby, J. Wheeley, N. 1. Robinson, S. A. Noronha, J. P. Gomes, L. Hallward, S. Joseph, J. A. Fredericks, etc.

Who is responsible for the heavy loss on the Shanghai contract? was it made bere, or in Sandakan?

The Chairman-With respect to the salaries, as you say, it seems a big increase, but Mr. Abrahamson did not draw his present salary for the arst six months last year

Mr. Wicking-What does he get

The Chairman-$550 a month. He didn't draw it for six months before the Company took aver E. E. Abrahamsen & Co.'s business, because there was a loss, and we didn't pay him his salary for half a year. That accounts for part of the increase. Then again there were changes in the staff.

Mr. Wicking-What was the object in changing the staff when business was so bad?

The Chairman-We had to increase the salaries in accordance with the agreement, and

we had to get men-but it is difficult to answer in detail. here, but the agents will gladly tell you. With respect to the charges, amongst other things the agents are allowed $1,500 a year for office expenses, and balf of last year is put down in these accounts.

Mr. Wicking-But considering the paltry business the Company was doing isn't that somewhat excessive?

Mr. Francis-Are those the Hongkong or the Borneo expenses ?-

The Chairman-They are the Hongkong agents' expenses.

Mr. Wicking-I thought they were the San- dakan expenses.

The Chairman-Out of that the agents here provide the clerical labor..

Mr. Francis-Then the statement that there was a profit last year was utterly untrue ?

The Chairman-No, not at all, because Mr. Abrahamson was not then entitled to his charges.

Mr. Francia-But the agents were.'

· The Chairman-Yes, but they were not collected. I don't think it is quite right to say It was untrue-I object to the phrase.

Mr. Wicking-I asked you if the steamers were paid for?

The Chaliman-The Normanhurst is, but on the other there are $8,000'due.

Mr. Wicking-Was it desirable to make that purchase ?

The Chairman-Apparently; she is now on a charter ať a profit of $500 a month.

Mr. Francis asked if the agents' charges last year were included in the "aundry creditors ?"

The Chairman-I don't think they made any change at all; on going through the accounts they found they hadn't collected it,

Mr. Francis-If neither their charges nor Mr. Abrahamson's were included last, should not it have been stated on the face of the report?

Mr, Wicking-I should not have asked the questions if it had been.

The Chairman-You must admit that it is

impossible to give every item in the accounts.

Mr Wicking-But when you put two years' accounts in one it is only natural that we should ask.

The Chaltman-Yes, but what I object to is

in the accounts. It is impossible to do that any shareholder who is apzious to know the details has only to ask the agents.

The Chairman-Perhaps Me. Abrahamson can explain it. We bave a doctor to look after all the estates and this Company's people, and he is paid in proportion to his services. We pay him: $75, and when he left Mr. Abrahamson presented him with a gratuity of $330.

I

Mr. Gomes-Out of our pocket? The Chairman---Out of the Company's fands. Mr. Wicking-Had he authority to do that? The Chairman-Yes; in his discretion. Mr. Wicking It seems to me very anfortunate. that he could. I believe the landed property in valued at $1.70.5 acre this year belleve that is considerably, in excess of last year?

The Chairman-That- includes the tobacco land, on which there was a further payment in 1889. It is not an appreciation.

·

Mr. Wicking-Does the Company get any interest on the outstanding claims ?

The Chairman-I fancy so; we charge it, and I hope we always recover it.

Mr. Wicking-Is the timber valued at cost

The Chairman---They are about the same, price, or at market rates,

bona fide nad necessary depreciation, or is it Mr. Wicking-Is the depreciation account a resorted to as a ments of covering our losses?

The Chairman-Really I must say you have a way of framing your questions very unplea santly

Mr. Wicking-Isn't it clearly pat 7.

The Chairman—Yes, but it is worded as if the Board had tried to disguise the accounts because the Company is not doing well-that we are trying to get out of it by manipulating the figures.

Mr. Wicking willingly exonerate the directors from any such motives-it newer entered my mind-but unfortunately this business is worked from Sandakan.

The Chairman said that the depreciation was properly made, and could not be placed elsewhere, there being no profit account.

Mr. Wicking-There is a very gencral im» pression, in my mind at least, that you and the general agents must to a great extent be cón. made respecting this Company and the allied trolled from Sandakan, and if so the statements

Companies are very misleading, and have not been realised.

The Chairman---Unfortunately.

Mr. Wicking "Unfortunately" is a very delicate way of putting it-we think Mr. Abra- hamson may have valued the stocks too highly. I don't cast any doubt on the agents'conduct—but I do on Mr. Abrahamson's, and I think it is very desirable, in the interests of the Company, that the accounts should not be passed here to-day, but should stand over fox say. a fortnight, to allow of a committee of three shareholders consulting with directors as to the carrying on of the business.

The Chairman-Some time ago the directors considered that the Company was in such a state that it was necessary for some one to go down to examine the books, and they selected Mr. the last year or so, to do so. Wheeley, who has been keeping the accounts for

Mr. Wicking-Did he make a report? The Chairman-Yes,

Mr. Wicking÷Can we see it. ? The Chairman-Not here.

Mr. Wicking-I think we should see it-It would give us a correct idea, probably,

We continue to supply large bollies as cleven." Play to commence at .4.30 p.m. Club trap in Wall street, and canie very near taking in Sandakan, which were, and are expected to be that you think the details bould have been given Committee will go into the matter.

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, Waters are packed and placed on board ship at Hongkong prices, and thefull amount allowed for Packages and Empties when received in good order.

Counterfoll Order Books supplied on applica-

Hon.

Our Registered Telegraphlo Address is, "DISPENSARY, HONG KONG," And all signed messages addressed thus

will receive prompt attention."

The following is a List of Waters always kept ready in Stock :---

PURE AERATED WATERS

SODA WATER

LEMONADE

POTASH WATER

LITHIA WATER

SELTZER WATER

SARSAPARILLA WATER

land, Lieut. Dundas and Dr. Forwards.

Mesars. Slott, Wilkle and Newton..............! backs. Lieut. Jackson and Mr. Hallward ...Full backs Mr. Rosa Thomson

Goal,

SINATOR Ingalls was at his best in his recent speech at Pittsburg upon the occasion of the opening of the Pennsylvania campaign. In bis reply to the time-worn declaration that with the Republican party in power the rich have been growing richer and the poor poorer, the Senator aid in his most satirical and witty vein, after denying the accusation and establishing its falsity: Jay Gould and I started in life about the same time. He had a patent mouse-trap and I had the sheep skin of a lawyer. He set his

the earth with it, and I want to say to you with entire confidence that it will go no farther that the only reason why I have not got so much money as Jay Gould is because I didn't know how to get it [Laughter and cheers] I bare examined the Revised Statutes and every statute that has been enacted since my ma- jority was attained and I have falled to discover The following will represent the Royal Engi- any legislation that prevented me from acquiring neers: Corp. Rice, Sapper Cook, Major Barker,100,000,000. [Laughter.) It's too late now. R.F., Lieut. Blair, R.E., Corp. Tanusbill, Lieut. (Laughter.) I have sometimes wondered what Young, Corp. Squires, Corp. Brenton, Sapper would come to pass if some great equitable Bailey, Capt. Macdonogh, R.E. and Lieut. could be enacted so that upon a given date, say statule of justice and equity for redistribution Watherston, R.E. There will be a tent on the the 1st of July following, every citizen of the United States should have his $875.10. I have a shrewd auspicion that within six months from that time we would find very much the same condition of things as now. [Laughter.] Some men would be riding in Pullman cars, and some would be walking along by the side of the track (laughter], with their entire earthly possessions in a bandana trunk with a plalock [laughter] looking for a dry culvert for a bed-room laughter), and some men would be in Con- greas and some would be is the penitentiary laughter), and some would be sitting down in the fance corners waiting to see the procession pass by, and over all loud and clear would be card the voice of the leather-lunged Democrat demagogue (applause), who gets ble living by the perspiration of bis law (laughter), rather than by the sweat of his brow [laughter], denouncing the wrongs to labor again." [Prolonged cheers.]

ground as usual,

SPENCER, the seronaut, gave the Kobe people a better show than he vouchsafed to his Hongkong patrons. Speaking of his ascent on the 1st inst., the Herald says At 3.30 p.m. the twelve gentlemen who had volunteered to hold the ropes let go, at a word from Mr. Spencer, who called away into space. There was a strong wind from the weat, which took the balloon out to sea, a contingency which Mr. Spencer had foreseen, and had, in consequence, put on a life belt before ascending. Au altitude of about 3,000 feet was rapidly attained, when a buzz of excitement announced that the aeronaut bad dropped from the balloon. After a drop of a hundred feet or so at lightning speed," the parachute opened out and Mr. Spencer slowly descended. He was about a mile from shore, and the steam-launch which had been requlsi- toned to pick him up was now in sight, but Mr. Spencer, nothing daunted, shouted to the Teteyama-kan, a Japanese man-of-war lying of the shore, to put off a boat. The life belt he word was quite sufficient to sustain him in the water and he is in addition a skilful swimmer A sampao la the neighbourhood picked him up [s in a very short time, and the man-of-war having very considerately put off a boaf, he and his parachute, both in rather a wet condition, were rowed to land.

TONIC WATER

GINGER ALE

GINGERADE, No Credit given for bottles that look dirty, or greasy, 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.

TO SUBSCRIBERS,

1)

SUBSCRIBERS TO THE HONGKONG IT is same consolation to us, when our myriad subscribers persistently ignore the plaintive TELEGRAPH ARK: MOST RESPECTFULLY | appeal which decorites the next column,

, to read that - REMINDED THAT ALL Subscriptions must

be paid in advance.

BIRTH,

*

On the 6th November, at Macao, the wife of G. D. SHARNHORST, of a daughter.

DEATH.

[1544

On 6th Inst, at 119, Bluff, Yokohama, EDWARD Morriss, of the Hongkong & Shanghai Banking Corporation.

[1545

The Honghong Telegraph.

HONGKONG, SATURDAY, NOVEMBER 8, 1890.

LOCAL AND GENERALA UNION CHURCH-We are requested to state that on and after Sunday next, 9th inst the morning service at the City Hall will commence at 11 o'clock.

THE cashier who was charged at the Police Court yesterday with embezzling $100 was in the employ of the Dross Oplam Farmer, and not a hireling of the Ratepayers' Friend, is wo Inadvertently stated in last night's insua.

ST. PETER'S SEAMEN'S CHURCH-The Mission storm-launch Day Spring will call alongside Yessels hoisting code pennant C between g and 10.30 . on Sunday to convey men ashore to the 11 o'cicole marvica, returning about 18.30,

Homer was a beggar. Spencer died in want,

Cervantes died of hunger. Dryden lived in poverty and distress. Terrance; the dramailat, was a slave. Sir Walter Raleigh died on the scaffold. Bacon lived a life of meanness and distress. Plautus, the Roman comic poet, turned a mill," Butler lived a life of penury, and died poor.

Paul Borghese had fourteen trades, yet starved

with all.

Tasso, the Italian poet, was often distressed for fire shillings.

Steele, the humorist, Hived a life of perfect warfare with bailiffs.

Olway, the English dramatist, died prema turely, aged through hunger,

Mr. Francis-Yes, but the mistake has been made in last year's accounts, and I think that item should have been referred to-thre is a mistake of $4000, and it should have been mentioned in the report or elsewhere that eighteen months were included, instead of twelve. May I ask what accounts for the rest of the increase?

Mr. Wicking-It is $7,000 altogether. The Chairman detailed several items, but could not tell all

rather heavy!

Mr. Gomes-Isn't $1300 for “petty expenses"

The Chairman agreed that it was, but had no details.

The Chairman-I have given you what items I could. As to the "sundry creditors," many of them are paid off I cannot definitely say what the position of the accounts is to-day, but we have á list here of who pur creditors and debtors

are

The Chairman said-The accounts and report have been in your bands for some few days, but before proceeding to move their adoption I shall be glad to an wer any questions. I regret very unable to give a satisfactory account of the much that at this second nonual meeting I am

progress of the Company. We have been very much disappointed by the continued dullness of the timber trade, which has prevented us making. quick sales, and indeed; we have been hampered with heavy stocks, and have had no little difficulty in getting such woods as have been sold cleared, or, I regret to say, dees there seem any immediate chance of improvement. The saw mills

one of our chief sources of revenue have only just been completed, they took considerably longer to build than was anticipated; they are fully employed, and we hope wil jentify the amount sunk on them. We are assured that there is every prospect of constant employment for them. The Hongkong saw mills have again lost money, and as mentioned in the report, the principal item was due to some error in working a contract from the North. They are working truse the Sandakan will well. The Normanhurst keeps up ber earning Power, and we be equally satisfactory. Our tobacco lands are still unsold, no opportunity having occurred to position of tobacco industries, and the good prices place them in London, perhaps with the improved recently obtained for the East Borneo tobacco we may find a purchaser at a fale price. The financial position of the Company is giving your Mr. Francis repeated "bis Interpellation Directors considerable auxiety owing to the respecting the $7000 in charges" unaccounted difficulty of making sales of wood. We have been far. compelled to take advances, on our stocks of timber bare to the extent of $51.380 (our stock being $74.000), and on current account $27 000, and our asscle being of an unliquid character, we are unable to procure further financial assistance, and are thus left without funds to develope the Company's business. Your Directors are indisposed to make a call, as there pre no immediate prospects of sufficient money being carued to pay a dividend on capital already remembered that the Company is paying seven per cent. for the accomodation it is at present receiving. The prospects of the Com- AH TOY, the common. heathen from the pany are not bright at the moment. The principal Hoangho, who has successfully demonstrated in

Bource of revenue and profit should be the all the Victorian courts that no Chinaman who wood sales, and as already remarked the is a British subject can be poll-taxed under markets have not allowed of any money being made in that direction. The development of the British law, is about to demonstrate the same fact over again before the Privy Council in Coasting trade, and building on the town lote November next; and considering all the proba- owned by the Company, would seem to give bilities in his favour it is time for Australia to reasonable prospects of fair return on further consider what is to be done after that. What out-lay of capital, but this capital is not now at Ab Tay has proved so far is that, owing to the the Company's command, nor do we see our way patched and muiky imbecility of the Constitu- to getting it without a further call. We should ifon of these" colonies," no law to exclude the require $15 a share, with that we should liquidate yellow leper will ever hold water, and until the our current indebtedoess, and the balance would Constitution's mended the besthen may come be available for such employment, or for trading in thousands and millions at his pleasure. Also purposes. At the same time, Borneo affairs are the Constitution can't be mended until the British somewhat unsettled, and the shareholders may Govemment lends hand, and the British prefer to let things aed, and wait until times Goverment can't lend a hand until the British improve and money is easier, and to that end Constitution is altered and re-fixed to meet the the business should be worked on the smallest case, and how to re-fix it no one exactly possible scale, cutting expenses in every knows. Therefore, if Ah Tay comes out direction, and realizing the timber stocks as the uppermost, every Chinaman who aver paid a market allows. I am sorry that I have not a poll-tas in this country will have an action for brighter state of things to put before you, but damages, and among them they hold out a fair such as they are I have told you, I shall be prospect of national insolvency: and every glad to answer any questions or give any Chinaman in the Flowery Land may come in information I can. without any tax or other obstruction. Or else the British Constitution must go on the ground that it is too slow and unwieldy to be of any use at such a crisis, and Australis must fatimate that even though the Privy Council should break into eternal smash and the silken "bonds" should be consigned to the dual-heap, the Mongol has got to stay out. If the British legal system has tied itself up into much a hard knot that it can find so adequate remedy for the difficulty—and it is one of the peculiarities of

-

Bentivoglio was refused admittance Into hospital he had erected himself.

a

remedy except after a hundred years of hard consideration—then it is too old and exhausted

was confined for a debt of $40, ..

Goldsmith's "Vicar of Wakefield" was sold for a trifle to save him from the grip of the law.

Fielding Hes in the burying ground of the English factory at Lisbon, without a stone to mark the spot,

subscribed, at the same time it must be

Mr. Wicking-I think it will be very generally acknowledged that the Company is in a very grave position, considering that it was sold to the shareholdere for a "good-will of $100,000, and there was a loss on the first year of $30,000, while this year we have to face a very serious loss and depreciation of $22,000, including the amount brought forward of $4,900,

The Chairman-$4,400 were brought forward last year as a credit balance.

Mr. Wicking-Altogether there is a depro-

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"Mr. Wicking-I shall make a proposition later that it is not unnatural that we should want to on with regard to that. I think you will admit know how we stand-

་

The Chairman I am very glad I think it is most natural that shareholders should make inquiries, and I am willing to afford all the information I can, but you will understand the difficulty of giving details.

The Chairman-I have no doubt the proposed Mr. Wicking-The reasons I have for making this propo Ition are that, considering this Com- pany was floated for a good-will of $100,000, we have a right to know from the promoters, E. E Abrahamson and Co., how it is the prospectus has proved so fictitious? My proposition is that with a view to the consideration of the accounts three shareholders be appointed by this meeting to examine them, and report to the general shareholders on a future date, so that we can decide whether it is to our advantage to wind up the Company, or change the management at Sandakan, or do anything else.

Mr. Francis rose to a point of order-the report and accounts should be formally moved before Mr. Wicking put forward his amendment.

The Chairman was quito agreeable to the amendment he was exceedingly glad that such a course should be taken. With respect to Mr. Wicking's question as to the Shanghai losses it was caused by the general agents, through the oversight of one of the employer which caused the rejection of the wood. He then proposed the adoption of the report and accounts."

Mr. Johnson seconded.

Mr. Wicking then proposed his amendment, which th

Mr. Perry seconded.

Mr. Francis said it seemed to him that the amendment did not necessarily imply awant of trust in the management, or in 'the accuracy of the accounts. He had looked

over the balance-sheet, and certainly it did. seem to hims that the form might be improved, the items were not sufficiently detailed-and as the shareholders, by passing it, practically Mr. Wicking think the proposition I shall made themselves responsible for it, it was make will enable the shareholders to get that perhaps better that a consulting committee Information. I would first ask, though, if the should be appointed to re-frame li. But whilst management at Sandakan is quite to the supporting the amendment be disclaimed the satisfaction of the agents bere that is to slightest intention of suggesting any reflection on say is Mr. Abrahamson doing what he professed the manager, agents, or directors. He had he would do? You know in selling his seen whilst visiting Borneo, that the Company business to this Company, with a good-will had a business which ought to be very of gro0,000, I think the common view was that profitable their steamers had the coasting he was qualified to carry it on. The result is trade, their); general agency business should unsatisfactory in the extreme-not only have I be extensive, and their tobacco land would no confidence in his ability, but I think the other doubtless be worth a great deal in the near shareholders have none, I think that be has future. A consulting committee could decide ability-it is shown by the fact that | what steps should be taken in respect to these be succeeded in floating so many companies in branches of the Company's business. It was Hongkong-

The Chairman-I must call you to order regretted that the timber trade had, so far, been a fallure), there must bare been Mr. Wicking I think not. I wish to ask if blundering somewhere to overstock the his management le satisfactory to the directors | market—indeed; he had been told that or perhaps I should say, to the general agents? the greater part of the wood on the beach The Chairman-We are as disappointed as the at Kowloon belonged to the Company, and was shareholders were led to expect very large nearly all so soft and rotteufit could not be sold. sales of wood and to make a good deal of money. That was only a rumour, perhaps, but it was a but it has not come off. You ask whether that is subject for the committee of investigation to look the fault of Mr. Abrahamson or not. We don't into. It might be that such wood had to be cut think it is—we think it is the fault of the market. down before the valuable billian could be reached, Mr. Wicking-Who is responsible for the but why was it sent up here!. In view excessive stocks in Hongkong? If I am dealing of such matters he thought the appointment of in wood I don't overstock the market," and a committee to examine-not the figures, but yet according to our balance sheet' we have facts—was desirable, we something like 1,000 tons here What is the use of bringing so much—was it ordered or was it sent contrary to your instructions /

The Chairman congratulate you on the position of not having an overstocked market. a phrase he had used earlier in the meeting-- Mr. Wicking I should be careful to avoid if he had no intention of imputing deliberate miz

be

Mr. Wicking begged to add that he did not question any of the figures in the accounts in the Icast,

Mr. Fransis took the opportunity of withdrawing

great interest to the remarks made by Mr.

the British cods that it seldom can find ciated account of $22,000, and a credit secount if I were one of the directors. ***

of $7,000. On that account there are some doubt there was a considerable amount of himmeltention to the inconsistencies in the report,

The Chairman wish you were one. No representation to the agents, but only of drawing The death of Collins was through neglect, first and rheumaile to be of any use is Australia, very serious additions to the charges which to be attached to us, but it was more ill-Jack Mr. Abrahamsen-I have listened with very causing mental derangement.

When Ah Toy's casa in auttled, the probabilities I think require some explanation froin the than anything else--tho'market went right away; Wicklag and Mr. Francis, although the former Chatterton, the child of genius and misfortune, are that some legal remedy for the Chinese therefore very glad to see here. Perhaps the been cut had to be shipped. We have a good gentleman rushed at conclusions, and introduced

directors, or from Mr. Abrahamuon, whom I am but a considerable ́amount of wood that bad agony will be wanted in a great burry, and destroyed himself at eighteen.

-Savage died in a prisen at Bristol, where he there will be no time to wait while the Imperial first question I should ask is what is the post deal to deplore, but I don't think we can not the slightest foundation, and of which I shall a lot of personal remarks for which there was Government sits down to contemplate the situation, in round figuice, of the Company, not in blarded for over-stocking the market.

June last, but to-day?

not deign to take any notice, as he is evidently. in. It would be an ignominious fate for the Empire to be wrecked on a common one-horse The Chairman-I have told you that in my

a blassed person. Now Mr. Francis' opinion pagan from Asia, but should that saffron-hued address..

is worthy of consideration-he Eas been in alien win his case it will be necessary to put Mr. Wicking-I see the salaries last year

Borneo, and has had an opportunity of looking some unexpected velocity into practice, or else were $10,000, and this year they come to

into matters, and I am qulie, certain, if a Com a political breakage may be looked for at an $15,000; I should like to know the cause of this

mitten in appointed, they will come to the con early day. The British Constitutiop has been exceptional increase. Then again the Charges

clusion that he did that the reason this bragged about, and advertised, and wept over at Account last year was $4,477, and this year it is

balance sheet is so bad is not our fault. banquets, and loyal gatherings, and sung and $11,500, but no explanation is offered. I should seems to have had a good excuse for what heMr Wicking-What about the $100,000 Ha't large enough to keep out ond Chinaman paid for, and also I wish for further information | Mr. Wicking-In 1889 the medical expenses | Mr. Abrahamson-1 will" come to that prev then all the postry that has been spent upon it with regard to the item of "aundry creditors, | were only $600, this year they are $1,600; it is | nently. No-one could have forensen, Pat, the was wasted energy which might have been better | $139,000”—that is a serious item, and we not a vory serious item; but I should like an price of timber would have dropped to the artent employed in carrying bricks,

certainly ought to know somatking about it, explanation,

is hány musik it was quite impossible to draw: buck

Milter sold his copyright of "Paradise Lost" for $73, in three payments, and finished his life in obscurity,

Mr. Wicking-1 don't say you did it inten- tionally. Was it sent over, on your instructions or against them? I have reason to think that the indents were not carried out you gave orders for wood of a certain size and they were not complied with, quis turned

The Chairman-Some of them were not filed according to order, but the manager at Sandakan

Cammens, the celebrated writer of the "Luxiad," | groaned and smuffled about for ages, but if it like to know, also, if the steamers are actually did. and a goodwill out the $100,000

the great Portuguese epic, ended his Use in an elmshouse and, at any rate, was supported by a falthful black servant, whp begged in the streets of dubon for kaina.