Intimation.
WM. POWELL,
LIMITED.
HIGH-CLASS DRAPERS, DRESS MAKERS, MILLINERS, HOUSE FURNISHERS,
AND
GENTLEMEN'S OUTFITTERS.
AT "ALEXANDRA
BUILDINGS"
Des Vœux Road.
"
All the latest up-to-date Fancy Goods, Blouses, Ribbons,
Chiffons, etc.
A CONSIGNMENT OF SPECIALLY- SELECTED TRIMMED
MILLINERY HAS JUST ARRIVED FROM EUROPE.
The height of Fashion is how displayed in our show-rooms and Windows.
DRESSMAKING
DEPARTMENT.
Satisfaction always given. Everything done under First-class
European Supervision.
THE HONGKONG TELEGRAPH, TUESDAY, JANUARY 31, 1905-
Intimations.
A. BILLY SAYING,
is
THE TANJONG PAGAN - DUCK'.
VGORŘESPONDENCE.
'secretary of state for the, cOLONIES TO GOVERNOR SIR J. ANDERSON. "It is a comunon-bui silly opinion prevailing among a certain class of people that tho.. wore
Downing Street,, November 4, 1904. Sir, I have given very careful consideration a remedy tastes, smells or hurts, the more
to the proposals contained in your confidential efficacious it is." So says a well-known Eng despatch of the 15th of June, for affording lish physician. Ile further adfs: "For financial assistance to the Tanjong Pagar Duck example, let us consider cod liver oil. As it Company in order to enable them to carry out extracted from the fish this oil is so offensive the extensive works which they have in con to the taste and smell that almost everybody templation. abbors it, and many cannot use it at all, no matter how badly, they need it. Yet and liver oil is one of the most valuable drugs in the world, and it is the greatest pity that we have not thus far been able to free it from those peculiarities which so seriously interfere with its usefulness." This was written years ago; the work of civilizing and redeeming it how ever has since been triumphantly accom- plished; and as a leading ingredient in the
remedy called
WAMPOLE'S PREPARATION the oil retains all its wonderful curative pro perties with no bad smell or taste whatever. It is paintable as boney and contains all the nutritive and curative properties of Pure Cod Liver Oil, extracted by us from fresh and fivers, combined with the Compound Syrup of Hypophosphites and Extracts of Malt and Wild Cherry; creating a medicine of unequaled pawer for the diseases most prevalent and fail among men, women and children. There is no other remedy to compare with it. It in- creases the digestive power of the stomach and in Binod Impurities, Weakness, Losa of Flesh Throat and Lung Troubles, Nervous Des. pepsia, Scrofulnus Affections, Thinness and Slow Development in the young, it gives quick and certain relief and cure. Pr. G. C. Shannon of Canada, says: "I shall continue its use with, I am sure, great advantage to my patients and satisfaction to myself" Has all the virtues of cod liver oil; none of its faults. You may trust it fully; it cannot disappoint or fail. One bottle convinces Sold by all chemists.
HONGKONG REGATTA.
NOTICE.
T}
|
2. I have obtained from the Company a copy of the Report of their Consulting En gineers which I enclose for your information. It is stated in that report (Section 20) that "the existing facilities are taxed to the utmost and are entirely inadequate to meet the increasing demands of the port," and from information at my disposal I have no doubt as to the correct ness of the statements made in paragraph z of your despatch, that there can be no question of the inadequacy of the facilities at present provided, and that "delay in making adequate provision, not only for present requirements but for those of the immediate future, will be a serious injury not only to Singapore but to the enormous British shipping interests engaged in
the Eastern trade.”
3. The scheme prepared by the Consulting Engineers appears to me, so far as 1 andable to form a judgment on the maiter, to be well devised and to make adequate provision, if it a carried out in its entirely, for the require ments of the port for many years to come, but its cost will be greater than you were led torex pec). In paragraph 1 of your despatch you' contemplate expenditure of about £1,200,000, whereas the estimate of the En- Kincers is over £1,500,000, to be spread over
15 years.
an
|
will observe, they took. #vintage-of. discus- sing the matter verbally before sending a written reply.
S. From their., answer of; the 14th ultimo (a copy of which is also enclosed) you will see hat the Company are willing to accept Govern- ment assistance on the following terms:
(a) the Government to take up the unissued 8000 shares at $300 per share, and to lend the Company, such. further money as they may require for, the scheme, on three per cent debentures:
(6) the Government to nominate two of its officials as members of the Singapore Board and one as a member of the London Consulting Committee,
comimercial interests of the most varied nature i and of the greatest magnitude can be entrusted 10 similer organisations with complete safety. can see no reason why equally good results should not follow from its intelligent adapta.. tion to the requirements and circumstances of Singapore. It is true that the scheme would entail a, considerable. addition to the nominal debt of the Colony, especially after aking provision for the contemplated in- provements, but I apprehend that the revenues of the undertaking "would from the first be sufficient, and passibly more than sufficient, to provide the necessary interest, while by the operation of the sinking fund the Colony would possess an asset increasing yearly in value
19. A more serious question presents itself in considering whether such a Board, under Government control, could and would success- fully manage such a varied business in the best interests of the Colony. I understand that no dissatisfaction is expressed with the uresent Board, due allowance being made for the control exercised by the London Com mittee, and it appears to me that it would be necessary to make little, if any, change in its composition.
9. It will be obvious that this offer falls so far short of securing the objects aimed at by you that it hardly affords even a basis for fur- ther negotiation. There is no suggestion, such as you anticipated, of the creation of rew shares. The ten thousand shares which, it the offer were accepted, would he held by the two Governments would confer a voting power of little more than geovotes. The price suggested is fifty per cent higher than that mentioned by you, and about twenty-five per cent above what I understand to be the present quola tions, although the natural effects of a large.
Equally I am of opinion that it should not emission of capital would naturally be to debe difficult to induce the present members, or preciate the price of the shares. The Colony the majority of them, to continue to serve under would be lending a very large sum to the the new conditions. The position would be a Company at a lower rate than that at which it dignified one; adequate fees could be attached would have borrowed the money for the pur to it and it appears to me that the present pose. The control offered to the Government members, who are all prominent local mer as regards both its voting power and its re- chants and whose fortunes are bound up with presentation on the two Beards would be those of the Port, would have every inducement wholly illusory, while the responsibility of the
to retain the direction of affairs. Government for the acts of the Company would be practically, complete.
19a. I am fully sensible of the arduous. duties which at present devalve on the Governor and High Commissioner, and while I have no doubt that you would cheerfully undertake. whatever further duties were imposed on you,
o, I may add that at the meeting with the representatives of the Landos Doard they made it. perfectly clear that they would not accept any measure of effective Government should feel that it was a serious objection to Control, such as that proposed by you, unless the scheme if it involved any heavy addition the continuance of their present dividend of
to your present labours. But I do not think 12 per cent were guaranteed to them, and it was evident that the continuance of that divi- desire, and indeed I should regard it as essen- that this would be the case. I should strongly dend was as you hipted in your despatch-tial to the permanent success of the scheme, the paramount consideration in their minds that there should be no interference with the They stated during the discussion that without Board in the ordinary business, The Gover Government assistance they could not hope to nor's power of control should only be exercised, obtain the requisite capital on terms which if exercised at all, when some question of public they would be able to accept. In such care policy was involved, and such questions should they proposed to go on with the improvements be of rare occurrence. The case would be gradually, and as money was available, and similar with regard to the official members of they suggested a term of 30 years as a possible the Board. I doubt if it would even be neces duration of the work.
sary for them to attend Board meetings when the agenda paper aliewed that only questions. of business routine would come up for discus sion. And need hardly emphasise the fact should be conducted on the ordinary principles that in my opinion the work of the Board
of sound mercantile administration.
I. In these circumstances a decision has to be taken as to the attitude which the Colonial Government should adopt, and several courses are open.
12. It would be possible to take no further steps in the matter) but in view of all the con- riderations urged in your despatch, and already referred to are such a course would clearly be contrary to the interests of the Colony and the Federated Malay States,
It is evident that, if this money is pre- vided and the proposed improvements are car. Tied out, the position of the Company will be materially modified; its capital in shares and debentures will be increased nearly four-fold, and its influence at once on the affairs of the Peninsula and indirectly on British trade and British interests in the Far East, for good or evil, will be correspondingly increased.
There can be no question as to the vital im portance to the Settlements and to the Malay State of providing a equate shipping facilities. The Tanjong Pagar Dock Company has estab. lished a practical.monop ly in this respect, and it would be difficult to name another Colony, at any rate any Colony approaching the Straits Settlements in size and importance, whose fortunes are so intimately connected with and indeed dependent on, the ́policy of a com- mercial body, Mismanagement, or even an administration solely devoted to shareholders' ¦¦ interests, on the part of the Company would in the course of time strike a blow at the pro perity of the Peninsula from which it might never recover. I therefore consider that in
43 Again the Colony and the Federated terference in the Company's affairs, whether it take the shape of the control of its administra Malay states might consent to provide the tive policy in return for financial assistance or money, required by the Company on the con otherwise, is amply justified in the public in-ditions which are now offered by the latter, subject to such improved terms as might be 5. If the Company's management were be Becured by prolonging the negotiations. This yond criticism, the question before me would would secure one of our objects, but the objec being the case. Though the formal responsi referred, as regards both its financial aspect NT with knowledge in BOOKKEEPING,bility rests with the local Board at Singapore,and its placing on the Government responsibi. Application in writing to
by the Articles of Association a consultative lity, without effective control, would make it voice in important matters is given the Lon-vely difficult in defend. don Committee which, in addition to the powers so conferred, is able to exercise a para mount influence over the Board from the fact that it represents a great majority of the share capital and that its members are senior partners in firms whose junior members are members of the local Board.
INTENDING COMPETITORS in the HONGKONG REGATTA are reminded that ENTRIES should be sent in on or before February 1st to the Hon. Secretary,.
Central Statiun. [18
E. R. HALLIFAX,
Hanks, 28th January, 1905
WANTED.
terest
20. The advantage of the schemefrom other points of view hardly needs demonstrating. There will no longer be the possibility that the private interests of the shareholders may be in conflict with the welfare of the port, and there is the certainty that this very important busi ness will henceforth be conducted in the best interests of the Peninsula. Moreover, while 1 am far from wishing to make any imputations on those responsible for this enterprise, it can not be denied that the power and influence of Colony are alr ady sufficiently great, and that they are likely to be largely increased in the prar future. It is not difficult to imagine cir- cumstances in which, that power might be a cause of considerable embarrassment to the Government, and the expropriation, on grounds of high, policy, of a Company occupying such an exceptional position and dominating such great public interests stands in no reed of justl.
All the latest fashion plates on A CAPABLE PORTUGUESE ASSIST. admit of an easier solution, but this is far from †tions to the propisal to which I have already the Company in the general affairs of the
view.
Prices moderate.
Estimates given for all kinds of
Garments.
CHILDREN'S ·
DEPARTMENT
Boots and Shoes, Hosiery, Gloves,
Caps, Coats, eto, etc.
IN OUR
FURNISHING
DEPARTMENT
"X,,Z."
Clo H. T. Office. Hongkong, 30th January, 1978,
f188
HUMPHREYS ESTATE AND FINANCE
THE
COMPANY, LIMITED.
I have no desire to make any reflection on the Committee it is their business to promote what they consider to be the interests of their shareholders, as it is the business of the
14. A third course would be to make a counter- proposal to the Company based on the princi- ple that the Government, in return for giving such large p cuniary assista ce, should have a controlling voice in the Company's affairs. This control might be effected in one of two ways-fication.
(a) by the Government holding a majority of shares and thereby secusing (under revised Article of Association (a preponderant voting power, and having one or more representa tives on each of the two Boards to advise as to the necessity of exercising such power, or (6), by the Government advancing the money on the best security the Company can give, and having a director on the local Board with the power of velo
"HÈ NINETEENTH ORDINARY AN- NUAL GENERAL MEETING of SHAREHOLDERS of the above Company will be held at the Registered Offices of the Company, Alexandira Buildings, Des Voeux Government to promate the general inter Road, on FRIDAY, 10th February, 1905, at ests of the community-but I have not fail. Noon. for the purpose of receiving the Reported to observe that a powerful indictment of of the Directors with a Statement of Accounts their policy has been made by the late Chair for the year ending 31st December, 1974. man of the Board of Directors, to which, so far
The TRANSFER BOOKS of the Company as I am aware, no adequate answer has been The objections to the first proposal are tha will be CLOSED Imm 1st to 17th February, forthcoming. In this connection 1 gote the it, would entail a large issue of new shares 1905, both days inclusive,
observation made in the fifth paragraph of your beyond what is authorised by the present con- despatch, "it is possible that the parsimony institution of the Company, and also that ques- regard to equipment and improvement, which tions of policy might arise in the administra is alleged with considerable force against the tion of the Company which it would be diffi Committee in London in recent years, may cult to bring under the cognisance of a general have been due to their expectation that the meeting, where alone the voting power of the Government might find it necessary in the Government could be used. And another interests of the Colony to establish a Port Trust objection, fatal to both proposals, is that the to take over their undertaking, and their desire London Committee (who doubtless express the therefore, that the dividends on the basis of opinion of the majority of the shareholders in which, under such a scheme, their shares should the matter) would not consent to either, and And elsewhere you endorse the view already be taken over, should be as large as possible." we have no power to compel them to do so,
15. In view of these difficulties I have been expressed by Mr. Taylor when administering obliged to consider the feasibility of the only the Government, that "there is a large and other coune which appear to be open to BE- growing opinion in the Colony, that the public namely, the expropriation of the Company and interest imperatively demands that some the administration of its undertaking under arrangement should be made for securing that Government control, the welfare of the Colony, and of the great ship ping interest with which it is bound up, shall not be subordinate to the immediate interests of a body of absent shareholders,"
6.
We have a splendid Stook of every
kind and class of goods neces-a sary to the well-furnished House Hotels, Ships, Hospitals, eto, fur
nished throughout. Estimates-free of charge. All work done by experienced
workmen on the shortest notice.
GENTLEMEN'S OUTFITTING BRANCH,
28, QUEEN'S ROAD,
}
OPPOSITE THE CLOCK TOWER,
2. I shall be glad if you will give this des patch you immediate and earne (consideration. if you see cause to differ from the views which I have stated, I.shall, of course, await a raa, soned statement of your opinions. But if you concur in them, I request that you will inform necessary notice to the Company, for it is very me by telegraph by order that I may give the desirable that they should be made aware of the intentions of the Government before taking steps to invite further capital or incur further expenditure on their proposed improvemants
-S. F. Press.
ALFRED LYTTELTON.
[To be continued.]
COMMERCIAL
JOHN D. HUMPHREYS & SON,
General Managers, Hongkong, 16th January, 1905. [180
HONGKONG ICE COMPANY, LIMITED. THE TWENTY-FOURTH ORDINARY THE
Do. ANNUAL MEETING OF SHARE. TOLDERS will be held at the Offices of the General Managers, Pe'der's Street, at 12.30 P.M., on MONDAY, 13th February, to receive Statement of the Company's Accounts to 31st December, 1904, and the Report of the General Managers.
The TRANSFER BOOKS of the Company will be CLOSED from the 3rd to the 13th February, both days inclusive.
JARDINE, MATHESON & Co,
General Managers, Hongkong. 78th January, 1925
[187
THE HONGKONG, CANTON AND MACAO STEAMBOAT COMPANY, LIMITED,
NOTICE TO SHAREHOLDERS.
“HE SEVENTY-SEVENTH ORDINARY
OF
The suggestions which you put before me in your despatch were therefore framed with a double object-to ensure that the Com- pany should be equipped with adequate funds for carrying out the necessary works as quickly as possible, and to secure to the Government that effective control of the Company's policy which you rightly regard as indispensable in the public interest. To these ends you propose that-
THE HALF-YEARLY MEETING
(a) the Government of the Straits Settle SHAREHOLDERS in the Company will be take up 18,000 fresh shares in the Company at ments and the Federated Malay States should held at the Office of the Company, No. 19, $200 per share, though you regarded the price Bank Buildings, Queen's Road Central, on
as a matter of minor importancej TUESDAY, the 14th February, at 12 o'clock
(b) the two Governments should guarantee Moon, for the purpose of receiving a Report of
an issue by the Company of four per ceat the Directors, together with a Statement of debentures up to an amount of $8,000,000-$ Accounts, declaring a Dividend. confirming proposal subsequently modified by your the appointment of a Director, and electing telegram of the 13th of September in which you suggested that the necessary sum should be borrowed by the Colony and lent to the Com.
(c) that the Govenor should have a veto on the appointment of all directors and members of London Committee, and the right to nominate at least two members of the Board and one
Auditors.
The TRANSFER BOOKS of the Company will be CLOSED from the gist January to the pany We have a good Stock of our well-14th February, both days inclusive.
By Order of the Board of Directors,
known Footwear for Walking, Shooting, Tennis, Yachting, Cricket and Golf
i
Hose for Oyoling, Gölf & Shooting, Beal Pigskin Puttes Leggings and Hammond's Patent Riding Legg- ings.
Fox's Spiral Puttees in Navy and
Khaki.
Hats, Caps, Shirts, Waistcoats,
Underwear,
etc., sto, etc.
T. ARNOLD,
Secretary. Hongkong, 24th January, 1904.
[166
HONGKONG AND WHAMPOA DOCK COMPANY, LIMITED:
NOTICE TO SHAREHOLDERS.
THE
“HE ORDINARY YEARLY MEETING OF SHAREHOLDERS will be held in the Offices of the Company, Queen's Buildings, New Praya, on MONDAY, the 29th February, 1995, at 12 o'clock Noon, for the purpose receiving the Report of the Directors and the
1904.
member of the Committee;
(d) that the Articles of Association should be amended in respect of the provisions which require the previous approval of the London Committee to any expenditure of over $50,000 and which limit the voting power of large shareholders
(e) the preylous approval of the Governor should be necessary for any increase on the charges on shipping and the warehousing and handling of goods, and for the distribution of any dividend,
7. While cordially agreeing in principle with the objects which you had in view, I felt
Do,
TO-DAY'S EXCHANGK, Selling,
London- Bank T,T.
Improgresinden i.. 15/16 Semar
....... 20 4 months sight.20 3/16 Fiance-Rank T,T.......
=.50 America-lark: T, Tai vartejaamas Garmacy-Tank T.T.
..... 2.04 India T.T...
.148) Do. deman
349 Shanghai-Bank T.T. lapan-lank T.T. Java--Book T.T
| minotha' aight L/C. 5 months' sight E/C.
Ruying.
..Nominal .982.
,120
20 5'16 2/07/16 30 dave' sight San Francisco & New York 194 4. months' sight
du,
Entimations.
YOU WANT
PROVISIONS
AND
WINES
IN
1905.
GET YOUR SUPPLIES
FROM
R. Perez & Co.
(SUCCESSORS TOP
A. CHAZALON & CO.
AND
G. GIRAULT)
6, QUEEN'S ROAD CENTRAL,
Opposite Connaught Hotel.
Who are Suppliers of High Class
Wines, Spirits and Provisions, French Bakers,
Navy Contractors,
and
Commission Agents.
BRANCHES :
HONGKONG, SHANGHAI, HANKOW. Hongkong, 7th January, 1903,
ist
THE WINE GROWERS SUPPLY CO.
MARK BARRETTO & Co., General Agents, Hongkong,
PORT WINE,
Direct shipments from the COMPANHIA, AGRÍCOLA, E COMMERCIAL NOW, VINHOS DO PORTO,
(Successors to DONNA ANTONIA A.FERREIRA),
Monopoly for China of THE WINE GROWERS SUPPLY CO.
Per Case of
1 Doann.
50 Dry No. 1 30 days' sight Sydney.and Melbourne 20 9/16
Bank of England rate
CANACAQ 2.56
H
23
Selected Old Port $50.00
11
*
35,00
#
"
# 30.03
一声
19 ** 25.00
11
13
H $0.00
་
4 months' sight Frants .................541 Quinta do Porto 6 months' right
2081 Dry No. 3 Bar Silver
...28 1/16 Quinta da Granfa
Tawny, 1887, Vintage
38 15.00- Tawny, (White Label)................................... 14:00 Medium Tawny, (Brown Lahel).. 13,00 White Tawny, (White Label) Witam Full Wise, (Brown Label)....................... IL00 White Tawny, (Brown Labełkowe 1050 Light Tawny, (Brown Label) 19.00
ANDERER YUNATIVES, Today's quotame k vre artillows p
Pet Malua New
1,075/1,100 @ 1,16/1,180 @·1,297 vanojo apdomnu @ 1,130
783/010
"
Older
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€1,080
Intimations.
16. In your despatch you state that you regard such a proposal as wholly impracticable, and undesirable in the interests of the Parl. even if it were practicable, and Sir F. Swet- tenham (whom, in accordance with the sug gestion in paragraph 13th of your despatch, 1. have freely consulted throughout the negotia- tions) at first expressed himself to the same effect. But on learning the conditions on which I should be prepared to sinction ex- propriation, he, as I am informed, has consimonths' sight Germany. derably modified his earlier opinion and though I am not aware of the grounds on which you arrived at the conclusion that it would be undesirable and impracticable to were influenced by the same considerations as take wuch a step, I think it probable that you those present to the min of the late Govern or, and that after being placed in possession of my views you will sco: capse to reconsider Paina New your objections,
17. Sir F. Swettenhum urged that the business of the Company was ons which it would be impossible to conduct as a branch ofthe Civil Service of the Colony, and in this I entirely concur. The proposal which, as at present advised, I incline to favour, is that the Company should he expropriated at a price to be determined by mutual agreement, or, fail- ing agreement, by arbitration, as its assets vested in the Colonial Government. The SINGER SEWING MACHINES management of the Company's business would then be condusted by a Board on strictly commercial principles, and every person employed by the Board, from the General Manager downwards, would stand to the Board in the ordinary business relation of employed to employer. The Board would be appolated by the Governor for a fixed period, its members retiring in rotation, but his interference in the ordinary administration of the port management would be neither R. RUTTONJEE bege to announce to necessary not desirable. There would be on numerous customers that his the Board on ur pas Ibly two official member Bakery in Kowloon being, burnt down, he has whose duty it would be to bring to the notice hired another in a healthy part of the town, where BREAD will be baked and prepared under his usual personal supervision and thus ensuring, to bis pumerous patrons, the cus tomary supply of the same wholesome Bread made of the finest flour and materials, that he has all throughout supplied.
Customers are kindly requested to send their orders as usual.
it necessary, before arriving at any conclusion of the Governor any Important questions of on your proposals, to ascertain what would be policy, and thro gb whôm any necessary in- the probable attitude of the Company with structions would be communicated to the regard to them, and I therefore caused to be Board, addressed to the Company the letter of the ang
18. In considering this proposal, it is my of September of which I enclose a copy. My desire that you should put before me fully and object was to elicit from them a statement as frankly any objections to it that may pre ent to their willingness to accept assistance from themselves to you. I have not been able to Government and as to the terms which they discover any insuperable difficulties in the way would be willing to offer in return, and in or of its adoption, On the contrary the experi der to secure full consideration of the mattarance of some of our most important, bome and [177I gave them the opportunity of which, as you i continental ports proves that mercanelle and
Statement of Accounts to the 31st December, The TRANSFER BOOKS of the Company will he CLOSED from the 6th to the 20th Wm. POWELL, Ld. February, both days inclusive.
By Order of the Board of Directors,
THOS, 1, ROSE,
Secretary. Hongkong, 26th January, 1005,
HONGKONGJ
Ilongkość, 21st January, 190j..
[35
WHY NOT THE BEST?
SEVEN GRAND PRIZES
AWARDED TO
AT THE
ST. LOUIS EXPOSITION. SHOW ROOMB—1, Wyndham STREET. Cash or Easy Monthly Payments. Hongkong, 28th January, 1905.
M
*** IMPORTANT NOTICE
[48
H. RUTTONJEE, No, 5, D'Aguilar Street, Hongkong. No. 37. Elgin Street, Kowloon, Hongkong, 4th January, 1905.
MELROSE WHISKY
Scotland's Best, Delicious Mellow
and Matured.
PADPRISTOND
Bowen & M'Kechnie.
12,00
CEPA RUBY RIOJA CLARET.
per dozen,
$6.00.
Direct Importery of Wins, Beer and Spirits from well-known Growers, Biswers and Distillers. Price List on application,
BARRETTO & Co Agentsy
Nos, & 24, Bánk Buildings, Queen'w Road Central,
Hongkong, 20th January, 1905
No comments yet.
Private notes are available after approval.