1902-06-10 — Page 3

CHINESE LOANS,

What do we really know of China? Practi- eally very little indeed, as an actual fact, although we talk a great deal about Chinese concession and Russian aggressions in China, and the results of missionary effort in China, and the "open door," and generally hear and repeat a lot of platitudes about the heathen Chinee"; but China proper is really little more known to us than she was in the days when the Abbé Huc published his "Chinese Empire" The recent Boxer" troubles, brought China more prominently before the European public, but so far as the City is concerned the Chinese Government loans are the Alpha and. Omega of interest in China: What, however, is one thing" which must trouble the mind of anyone who grasps the fact that China is a country of over four million square miles, and having a population of more than 400 millions-equal, in fact, to the population of the whole of Europeis, why she should come to the West to raise such trumpery little loans as she has issued. The first loan launched was in 1874, when a poor little £630,000 issue brought out which bore interest at the Tate of 8 per cent, and in 1877 a further 8 per cent. Juan for £1,604,000 was issued, both of which were paid off by 1894 before any fresh loan was brought out. In 1885 1,505,000 was raised, but at the reduced rate of interest of 7 per cent, the

PRICE OF EMISSION

THE HONGKONG TELEGRAPH, TUESDAY, JUNE 10, 1902,

and nothing short of a repudiation, of treaty. obligations, which would bring China into trouble with every European country and the United States of America, em affect that security, Nar is there the slightest reason to imagine any breach of faith on the part of Chinn, who has throughout her loan transactions set. an example which pats to shame most of the European States. The early loans have been paid off, and the later ones are being reduced at a rapid rate; the security is growing in value and were it necessary--or perhaps it might be added, prudent-China could herself at home" mise a lean, sufficient to pay off every foreign liability. Can any Western country do the same ?-Financier.

GREAT NORTHERN TELEGRAPH COMPANY.

At the general meeting held at Copenhagen on April 32 Mr. Melchior, on behalf of the chairman (who was prevented by illness), made. the following remarks

___________ Intimations.

INCANDESCENT GAS LIGHT.

THE

954C

The attention of consumers is drawn to the fact that the Undersigned, being Sole Agents for

DR. AUER VON WELSBACH Co., VIENNA,

INVENTORS

OF INCANDESCENT GAS LIGHT.

ARE SELLING THE ONLY GENUINE MANTLES, The Price of which has been reduced to FIFTY CENTS per piece.

BEWARE OF INFERIOR IMITATIONS!

KRUSE

Mails.

NIPPON YUSEN KAISHA.

(THE JAPAN MAIL STEAMSHIP COMPANY).

PROJECTED SAILINGS FROM HONGKONG-SUBJECT TO ALTERATION.

STEAMERS. WAKASA MARU

J. B. Macmillan

& Co., IYO MARU

CONNAUGHT HOUSE.

W. BREWER

The Missionary, by George Griffith.. A Bed for Europe, by Major Griffiths A Modem Miracle, by McDonnell

Bodkin........................ Shacklett, by Walter Barron

I Crown thee King, by Max Pemberton.

Hg, 7th June, 1902.

Co.

S. J. G. Parsons HIROSHIMA MARU

T. Murai...... BINGO MARU

F. Davies YAWATA MARŮ

A. E. Moses

......$1.75 | Kanagawa, Maru`

40 J. Mackenzie 1.75

NEW BOOKS.

40

40

125

1.75

Greater Love, by Joseph Hocking To Leeward, by Marion Crawford.... The Great Push Experiment, by Pratt... Three Men on the Bumunal, by Jerome

Jerome.......

1.75

1.73

1.75

(21d

The Dark o' the Moon, by Crockett...... 1.75 The Hound of Baskervilles, by Conan 1.75 1.75

Doyle

NEW PATENT SODA-WATER-MACHINE. Especially suitable and a real necessity for Hotels, Hospitals, Barracks, Officer's Messes and Private Messes, Families in Up--

country places, Mission

The Vladivostock route is improving, but it Doctor Therne, by Rider Haggard..... 5 should not be overlooked that the line runs very close to the borders of the Province of

The War in South Africa, by Conan

Doyle Manchuria, where matters have not yet settled down to normal conditions. This is an ad- ditional reason for pushing forward with energy the contemplated duplication of the Vladivo stock route by means of a Taku-Tientsin-Pek- ing-Kiachta line, and r hope that the negotia- tions which we have begun with the Govern being 99, and later on in the same year issue. We have assisted, as far as our interests ments interested will soon lead to a successful £1,500,000 and £750,000 were raised at 6 per permitted and as far as was compatible with cent interest, and all these loans had been in due course paid off by 1399. These may be

our engagements and duties to other Govern- regarded as favoured loans, for although the

ments and Administrations, in the landing 'a' last two were stated to be required for what

Amoy of a cable belonging to the Frenchi may perhaps be termed reproductive works, China (Touraue). Not only did the politial and Govenment, connecting, that town with Indo- there was no reason at all why the money military events in the Fat East which caused should not have been raised in the country, the exceptional increase in our revenue in 1900 and indeed, it is a fact that all these early Chi-extend over a great part of 1991, the peace treaty nese loans, were' very largely taken up by European, or American people, officials or mer the withdrawal of the troops being effected later not being signed at Peking until Sept. 8, and chants, residing in the country. Just before and more slowly than was expected, but the these early loans were finally paid off, China favourable result is also due to a great extent had again come into the Western market, an to the postponement until 1953 of the Inter issue of one million at 7 per cent. being made national. Telegraph Conference, at which we in 1894, followed in February, 1895, by one for are prepared to make large tariff reductions for three millions.at 6 per cent., issued at 96), and the Far East traffic. We cannot too often another in, April for one million, at the same repeat that the political and military events in rate of interest, the issue price being too, both the Far East, which have given is a consider these emissions being redeemable at par by 15. able increase of traffic and other receipts, are yearly drawings.

of a quite temporary and exceptional nature. In the balance-sheet we have included a fresh item namely, Participation in other Telegraph Enterprises,.£129,000, representing our propor- tion of the amount advanced to China at s per cent, interest for the cables laid by us in 1900. and 1901, which amount will be amortised in the course of 30 years.

Then, however, commenced what may he termed the war loans, the first being for 400,000,000 (£15,820,000), at 4 per cent., Issued at 99, followed in the next year by one for £16,000,000 at s' per cent. These loans were all secured upon the

IMPERIAL MARITIME CUSTOMS simply, but in 1898 there was a fresh 43 per cent. issue for £16,000,000, the security being, in addition to the Imperial Maritime Customs, the proceeds of the likin duties in certain provinces, the control of which had in the meantime been put into the hands of the Maritime Customs Commissioners. These forms what may be termed the Leperial 15ans, but there are the two railway loans-one for £2,300,000, bearing interest at 5 per cent. issued specially for the constraction of the Imperial railways of North China, and another for 112,500,000f, at $ per cent., issued for the construction of a railway between Pekin and Hankow! These loans have a first charge on the railways and a guarantee from the Imperial Government, but are not in any way dependent on the Customs receipts. Roughly, then, we have some 531 millions of Chinese taans quoted on the London market secured upon the Im- pedal Maritime Customs revenue, requiring some £2,600,000 to pay the interest, besides what may be wanted to provide the sinking fund for their redemption, the railway loans being in another category altogether. This being the case, we need to look at the growth of the income of the Customs. The figures obtainable are very much at fault, because they only give the toaritime Customs-that is, the dutles levied upon goods imported from beyond sea, no account being taken of the added likin, or Inland, duties, nor of the duties on the coating trade goods, which have recently been handed over to the Maritime Commissioners for collection, nor can we ever make an esti mate of what amount they realise. As regards the over-sea, or maritinic, Customs, the growth is satisfactory enough, for we find that the revenue has increased in value from ten million Haikwan taels In 1870 to 27 million taels in 1899.

But here comes in a very serious, drawback in the falling off in the value of the tael, which

HOARDED TREASURE.

A BIG FIND.

The amonaure buried, thrown down wells, or stored away in the forte and palaces of native Chiefs at the time of the Mutiny must have been enormous, 'says an exchange,

and probably only a small proportion of it has been, or ever will be, recovered. We still hear, however, from time to time of an occasional find. The Chief of Refgarh, in the Bhopal Agency, died some two months ago. Mr. Lang, the Political Agent at Bhopal, went to settle the deceased's affairs, and 'was told by one of the palace nobles that the Chief had left

message, for him to the effect that a large amount of treasure was stored in a vault in the palace, and had been there since the Mutiny. Mr. Lang examined the vault and found the treasure, chiefly in har gold and uncurrent. Bhopal rupees. The total value is estimated at seventeen and-a-half lakhs. The Political Officers have suggested the investment of the proceeds in Government paper. Rajgarh is a small State, with a revenue of about 34 lakhs, so this windfall will add about Rs. 61,200 to the income. The whole incident is a striking illustration of the hoarding tendencies of native Chiefs.

THE WORD OF HONOUR,

The men who do as they say; the things that prove to be what they were said to be,-how cheering it is to come upon them. We all hate to be deceived; especially when the decep. tion is intentional. But all men are not liars, even if David did say so in his baste. If they were society would be impossibile. Everybody. knows that business is based on credit, an

Hongkong, 29.b ja .... 1901.

NEW YORK

Stations,

and for Passenger Steamers.

The most simple and efficient machine yet invented for the manufacture of all kinds of Aerated Wators, Lemonade, Fruit Lemonade, Champagno

Cyder, &o, &o, &o.

KINSHI MARU*.

F. L. Pyne KAGOSHIMA MARU,

K. Kori

KUMANO MARU...................... E. W. Haswell.........

DESTINATIONS,

MARSEILLES, LONDON & ANT

WERP, VIA SINGAPORE, PENANG, COLOMBO and PORT SAID "......

www.

"SAILING DATES,

SATURDAY, 14th June,

Daylight.

VICTORIA, B.C. and SEATTLE, MONDAY, 16th June, at

U.S.A., VIA SHANGHAI, Moji, KoBE and YOKOHAMA ... KODE and YOKOHAMA .......

KOBE and YOKOHAMA NAGASAKI, KOBE and YOKO-

HAMA MARSEILLES, LONDON & ANT- WERP, VIA SINGAPORE, PENANG, COLOMBO and PORT SAID VICTORIA, B.C. and SEATTLE, U.SA, VIA SHANGHAI, MOJI, KOBE and YOKOHAMA zoom BOMBAY, VIA SINGAPORE and

COLOMBO

SYDNEY and MELBOURNE, VIA THURSDAY ISLAND, TOWNSVILLE and BRISBANE,

4 BM.

TUESDAY, 17th June, at

Noon.

FRIDAY, 20th June,

Daylight

FRIDAY, 27th June, a

Noon.

SATURDAY, 28th June, at

Daylight

MONDAY, 30th Jane,

4 P.M.

TUESDAY, 1st July,

4. P.M. SATURDAY, 5th July, at

Noon.

*Through Passenger Tickets and Bills of Lading issued for the Principal Cities in the United States, Canada and Europe, in connection with the GREAT NORTHERN RAILWAY and Atlantic Steamers.

4

Local Branch Office at Prince's Building, 1st Floor, Chater Road.

For further Information as to Freight, Passage, Sailings, &c., apply at the Company's.

Manager.

Hongkong, 7th June, 1902,

COMPAGNIE DES MESSAGERIES MARITIMES.

PAQUEBOTS-POSTE FRANCAIS,

NOTICE.

STEAM FOR

SAIGON, SINGAPORE, BATAVIA, COLOMBO, BOMBAY, ADEN, EGYPT,"!

MARSEILLES; MEDITERRANEAN AND BLACK SEA PORTS, LONDON, HAVRE, BORDEAUX;

ALSO

The machine is worked by hand, can be attended to by any PORTS OF BRAZIL AND RIVER PLATE.

ordinary native servant and manufactures

Aerated Waters of best quality at enormously cheap prices.

LEOPOLD SPATZ & CO.

17330

LIFE INSURANCE CO.

The Oldest and Largest International Life Insurance Company in

the World.

SUPERVISED By 82 GOVERNMENTS,

Written Business 1901 exceeds $380,000,000 Gald. Actual Paid for Business Igor exceeds $160,000,000 Gold. A note or a Telephone Message from those wishing an "up-to-date" policy will receive immediate attention."

Hongkong, th February, 1902.

UCATOÓ. IN RAMPADNg Special Representative, Hongkong Hotel.

[1374C

HIRANO WATER

A natural clear, sparkling and effervescent Mineral Water, bottled in its NATURAL CARBONIC ACID GAS of the Hirano Spring of Iliogo Ken, Japan. It mixes excellently with WINE.or SPIRITS, and is PERMANENT IN QUALITY.

7760-

ANALYSIS PROVES ITS. PURITY, .

PATENT CORKING.

Telegraphic Address: Marinework, Honokeza.

·

SIEMSSEN & CO.,

Sole Agents, Hongkong and South China.

Code Used! Aga mad & D C, 4th Edition.

C. WILKS & Co.,

MARINE ENGINEERS, SHIP CONTRACTORS

AND SURVEYORS.

Collisions and Damages Surveyed for Insurance Companies, Ships' `esigns and

TH

Specifications Prepared. Ofice: 9, Queen's Road Central.

[12140

Hongkong, 8th November, 1901. PETER SYS' WONDERFUL SPECIFIC.

"HE only remedy at present known as an INFALLIBLE and PERMANENT CURE for SPRUE, DYSENTRY, DIARRHEA, HEMORRHAGE and ULCERATION.

of the BOWELS. Recommended by some of the Chief Specialists of the Medical Profession. Sold retail by all Chemists and Wholesale by

12th October, 1898,"

WING

THE PETER SYS COMPANY,

(Proprietors and Sole Manufacturers) 9, Old China Street, .Shanghai.

CHEONG.

[21

ON

N MONDAY, the 16th June, 1902, nt P., the Company's Steamship "SALAZIE," Captain Aubert, with Mails, Passengers, Specie and Cargo, will leave this Port for MARSEILLES, viA BOMBAY.

This Steamer.connects at COLOMBO with the 6.8. Armand Bekie, which vessel takes

on the 28th instant, Direct to Suez, Port Said

A. S. MIHARA,

ORIENTAL

STEAM

THE PENINSULAR AND ORIENTAL STEAM NAVIGATION COMPANY. STEAM FOR STRAITS, CEYLON, AUSTRALIA, INDIA, ADEN, EGYPT, MEDITERRANEAN PORTS, PLYMOUTH AND

LONDON; SA (Through Bills of Lading issued for Batavia, PERSIAN GULF, CONTINENTAL and AMERICAN PORTS) HL Steamship

and Marseilles on her Passengers and Mails leaving that Port E

Cargo and Specie will be registered for Lan don as well as for Marseilles, and accepted in. transit through Marseilles for the principal places of Europe,

"CHUSAN," Captain C. L. Daniol, carrying His Majesty's Mails, will be despatched from this för BOMBAY, on SATURDAY, the 21st instant, at Noon, taking Passengers and Cargo for the above Parts,

Shipping Orders will be granted till Noon, Specie and Parcels antil. 3 E.M...on the 15th Cargo will be received on board until 4 P.M.

ingy ntus Bereziat unoriga.by rention, Junaedi tents and Value of Packages are required.

For further Paniculars, apply at the Comvid Bombay with Transhipment. pany's Office.

G. DE CHAMPEAUX,

Agent.. Hongkong, 3rd June, 1902.

and Tea for London (underhiyantament), will Silk and Valuables all Cargo for Enca ka tronelynnad-ca Batam ti other Cargo for London, &c be conveyed

[10040

NORTHERN PACIFIC STEAMSHIP

COMPANY. -

PROPOSED SAILINGS FROM HONGKONG;

VIA SHANGHAI, INLAND SEA OF JAPAN, KOBE AND YOKOHAMA”

FOR VICTORIA, B,C., AND TACOMA; IN CONNECTION WITH NORTHERN PACIFIC RAILWAY CO.

Steamers,

Captains. Proposed

Sellings.

Olympia ......... 2,837 J. Truebridge June 28 Glenōgit 3,750 G. E. Warner July 12 Duke of Fife... 3,821 S. Cox....Aug. 1 Victoria

3,502. Panton ...Aug 9

THE attention of Passengers is directed to THE

the very cheap rates offered by this Line

to the PACIFIC COAST and to the INTERIOR and EASTERN CITIES of the UNITED STATES and to EUROPE.

HONGKONG TO LONDON £52. Excellent accommodation. First-class Table. DOCTOR and STEWARDESS carried.

Parcels will be received at this Office until 4 P.M. the day before sailing. The Contents and Value of all Packages are required.

Shippers are particularly requested to note the terms and conditions. of the Company's Bills of Lading.

For further Particulars, apply to

E A HEWETT,

Hangkang. 7th Junë, 1002 (51

To be Let.

TO LET.

rintendent.

HUFF ROAD.

TOUSES in CLIFTON GARDENS, CON

GODOWNS at BLUE BUILDINGS. HOUSES at CAUSEWAY BAY, facing the

Polo Ground.

A HOUSE in RIPON TERRACE. - No-11, MACDONNELL ROAD.

Apply to

THE HONGKONG LAND INVEST- MENT, & AGENCY CO., LD. Hongkong, 24th April, rooz

(2090

TO LET.

OFFICES in Ground Floor of Das Vœux

ROAD and ICE HOUSE STREET, For Farticulars, apply to

THE MEDICAL HALL,

70, Queen's Road Central, Hongkong, 4th March, 190.

TO LET.

oneODOWNS at WANCHAI suitable for

LT. Storage of Yarn,, fo

Apply to

BOTA EDWARD OSBORNE,

Secretary The Hongkong and Kowloon Wharf and Godown Co., Limited.

Passengers to EUROPE may proceed by of the first class ATLANTIC MAIL LINES.

HONGKONG TO NEW YORK £48, The Railroad travelling is second to none on the American Continent; two trans-continental trains daily from TACOMA DINING CAR is attached to trans-continental trains day and night; TACOMA to NEW YORK_in`41′′days.. Magnificent Scenery of the Rocky and CAICADE MOUNTAINS. The YELLOWSTONE

was worth 6s 6d in 1870, but last year only faith. Millions are bought daily on nothing DEALERS IN JEWELLERY, PEARLS, DIAMONDS, JADESTONEWARE, NATIONAL PARK route.

realised an average of 3s rid, thus neutralising the increase in the gross amount, for whereas in 1891 24 milljon taels produce, at 48 Tid per tael, £6,000,000 sterling, in 1899 27 million taels gave, at ŝi oid, no more than £4,000,000, last year's refusan, at as it, being only £3,500,000. But even allowing for, this loss by exchange, the security is not impaired, for not only does the income given above, not in cluding either the likin dues or the coasting Customs, but, of itself would be ample to cover the loan obligations. Nor have we much to do with the loss by exchange, because the interest is paid in sterling, or at a fixed rate per tael. and, moreover, it is an absolute certainty that the revenue hypothecated reaches the bond holders, Custams bonds being deposited with the agents for the several loans, who are em powered to issue them

AGALAT THE CUSTOMS CHARGES

that is to may, the banks, through whom the bulk of the business le done, collect the money, and hand Customs bonds over to the clearing agents, who in turn hand them to the Customs officers. Therefore there can be no question to the validity of the security it is absolute,

TGENERAL GROCERIES LION BAKER

more solid than the pledged promises of men, not written, merely verbal. The Stock Ex changes are often called nests of gamblers, yet nowhere is a promise held in greater honour, Therefore when we say that the tried and effective modern remedy called "Wampole's Preparation" never deceives any who resort to it in hope of benefit and cure, we may expect. to be believed. For this assurance is given on what it has done in the past in countless cases, on its record. It is only recom mended to accomplish what it was made to accomplish. Its action in Chlorosis, Anemia, Trophies, Blood Impurities, etc. is convincing. La Grippe, General Debility, Throat and Lung it is palatable, as honey and contains the nutri live and curative properties of Pare Cod Liver Oil Extracted by us from fresh cod livers, Hypophosphite and the rifacts of Malt and combined with the Compound Syrup of Wild Cherry Dr. Austin D. Irvine, of Canada, says I have used it in cases where cod. liver olf was indicated but could not be taken by the gratifying." It is effective from sensitive and patient, and the results following were very nervous stomachs. It cannot deceive or dis Appoint you, and comer in the rescue of those treatment. It stands for the medical triumphs who have received no benefit from any other of the age. Sold by all chemists here,

GIRAULT för RED WHITE BLUE

GREAT SE

COFEER

CURIOS, SILKS, CARVED IVORYWARE, AND GRASSCLOTHS,

AND

GENERAL EXPORTERS.

MYROCH

No. 35, Queen's Road Central,

Next Door Messrs. LANE, CRAWFOLD & Co.

Hongkong, 29th November, 1901.

UNTOUCHED BY HAND,

[1256c

MELLIN'S

FOOD

For INFANTS and INVALIDS-

When prepared is similar to Breast Milk

HONGKONG TO VICTORIA, TACOMA £35.

The best route to the KLONDYKE GOLD FIELDS. Frequent Sailings from VICTORIA, TACOMA to DYRA and ST. MICHAEL.

Rates of Passage to other Points on applica tian, ba

Special rater allowed to meniders of Govern ment Services..

For further Information as to Passage or Freight, apply to

DÓDWELL & Co., LIMITED,

General Agents,

Hongkong, 30th May, 1002

EDUCATION:

WELHAL-WEI SCHOOL:

Hongkong, 12th May, 100% VG

[542d

TO LET HIRTEEN EUROPEAN HOUSES: Nos. 20, 24, 26, 28, 30, 32, 34, 40, 44, 40, 48, 50 and 56, LEIGHTON HILL ROAD

Apply to ACORN

THE HONGKONG & KOWLOON LAND & LOAN CO., LD. No. 8, Queen's Road West

Hongkong, 29th April, 1902,

WORTH A GUINEA A BOX.

[2246

BEECHAM'S

PILLS

FOR ALL CLAS BILIOUS AND NERVOUS DISORDERS:

SICK HEADACHE, CONSTIPATION SEARS WEAK STOMACH

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Papila prepared for the Public Schools, the Royal Navy and for commercial fo

racing climate. Healthy situation, facing. South

Summer term beginı May Side

PRINCIPALE HERBERT BEER London University, L.C.P.

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Late of Quien Elisabeth's "Trammar Schools äldre,

AND FEMALE AILMENTS, ARUNG SALE SIX MILLION BOXES

Prepared only by the Proprietor THOMAS BEECHAM. St. Helens, England,

SOLE AGENTS for HONG

and the EMPIRE of CHINA DEPRE

WATKINS, LIM APOTHECARIERT