1905-03-25 — Page 1

The Hongkong Telegraph.

MAIL SUPPLEMENT.

FERIES No 4805

"OUNTENT 8.

Birthrond Deaths.

"Ebading"" Articles

"Kuropatkid's Recall.

The Extent of Provocation.

America and the Japanese, China Sugars.

Teisgrams 1---

Opfum for China.

Kalyan Occupied.

Ruusians Retreat in Disorder.

Meetings:-

China Sugar Refining Co.

Luton Sugar Refining Co., I.d.

Tanjong Pagar Dock.

**Legal Intelligence:→→

"The Disputed Biscuit Contract,

The Criminal Sessions.

Action against a Shipping Company.

The Bankruptcy Court,,

Chinese Engineering and Mining Co. Case. Police,

Tars in Trouble.

Shore Leave.

More Counterfeit Coin.

Miscellaneous "Artiolés and Reports :—

Hongkong-Manila Line,

Hongkong'e Shipping.

New Peak Tramway.

Hongkong Water Supply.

Hongkong Invaded.

Lecture on Tea.

'Létture on 'Radium.

The Hongkong Hotel Co., Ld.

Shanghai & Hoogkew Wharf Co., Ltd.

The National Bank of China, Ld.

The Standard Oil Co, and the Shell Trans

port Co,

A Crave Question.

"The Sully.

Naval Notes.

Shipping Jetsam.

Land Sales.

Masonic Quadrille Club, Concert.

R.E. Variety Chüb,

The Y.M.C.A.

Kudos for Hongkong Merchants. Inspection of the Army Service Corps. British Shipmaster Found Dead,

Cement for Manila,

The Philippine Co, Ld.

Hongkong and Fiscal Reform,

Japanese Squadron.

Futura movements of the Japanese Army.

The Vladivostok Fleet.

The Late Sir Robert Jardine.

Commer alal:-

Vain Market.

Shanghai Freight Markel.

Shanghai Share Report. Rice.

Hemp..

Raubs.

Exchange.

Opium.

Local and General.

DIRTHS.

On 21st January, at 8, Beauliew Villas, Finsbury Park, London, N., the wife of C. E. STEWART, of a son.

On the roth March, at Nassim Lodge, Tanglin, Singapore, the wife of EVELYN C. ELLIS, of a daughter.

At Fort Cornwallis, Penang, on the 14th March, the wife of C. DICKSON, of a daughter,

still-born.

On 16th March, Shanghai, at 137, Bubbling Well Road, the wife of E. O. CUMMING, of a

son.

At 85, Institution Hill, Singapore, on March 16th, the wife of GRAHAM HUTCHISON, of a daughter,

DEATHS.

On 15th March, at his residence in Range Road, Shanghai, CLARENCE EUGENE FISKE, aged 43 years.

Os 16th March, at his residence, 14, West Eed Lane, A. NELSEN, Shanghai, Upper Yangtste Pilo; aged 45 years.

晚二十月二年二十三精光

(ESTABLISHED 1881.)

SATURDAY, MARCH 25, 1905.

was concerned. What with the Manchuria been reared. But the Aryan, race, it is ar-

THE EXTENT OF PROVOCATION. (22nd March.)

a

六拜禮

號五十月三英港香

$13 PER ANNUM.

FindLE Copy, 35 CENTS.

Russin, tons

50,000 England, tons Other European countries, tons... 37,000 North America, tons .............

120,000 Asia; Africa, Australia, tons..... 175,000

Total, tong...

,1,061,000

** HONGKONG TELEGRAPI”

SERVICE.

Opium for Ohina. [From Our Own Correspondent.]

BOMBAY, 21st March, The P. & O. Co.'s mail steamer leit Bombay this morning with about 272, chests of Malwa opium, Prices

Malwa (New) ...Rs. 1,550-

are as follows :—

23

(Old)

31

1,750

(Older) * 1,850 (Oldest) 1,950

THE WAR.

KAIYUAN OCCUPIED, Mr. M. Noma, Consul for Japan, kindly forwards us the following telegrams:-

Tukin, March 20th, 11.50,1.m. ment occupied Kaiyuan, twenty miles north At 4 am, on the rgth inst., our, detach-

Tichling.

of

The enemy afterwords attempted in counter- attack, but was repulsed.

road south of Kaiyuan and also destroyed a The enemy burnt bridges on the main

part of the railway bridge.

A number of Russian guns were found buried near Mukden.

RUSSIANS RETREAT IN

DISORDER

[ to the Emperior that Genétal Kuropatkin | the Fates have been, against "his fulmina. Įtry for purding out the refined, product at a | producers and refiners on the Continent lind refused to support his flinking move-tions; and his sale laurels are those bestow price which should be able to face fair competi. had a delightful system in full working ment, in view of which Grippenberg asked cd dpon him by a sympathetic and obserien, sich, as is now made possible under order whereby they regulated prices to be relieved. The Emperor, it is added, vant Japanese Ministry. It would seem, the Sugar Convention, without any fear on the basis of a mutual understanding.

to the ultimate result for the very then telegraphed to Kuropatkin, asking for indeed, that all the newer countries are up in important industry, which finds employ. The home market paid for the cultivation an explanation, in reply to which Kuropatarais against any possible invasion by the ment for thousands of hands in the Colony of the crop and the refining of the sugar. kin wired that his health was shattered and alien coloured race, and the argument in sup- That prediction has been fulfilled to the The remainder, was so much profit, and the rejected permission to turn over his cor- port of that view is, in the first place, that the very lofter; the result, indeed, has surpassed more they exported the higher were the mand to General Liflevitch." According to yellow race generally is accustomed to such a the second and more commonly credited meagre dietary, and subject to such impossi- formed regarding, the future of the Compast and gone. On the Continent prices

even the bigli expectations which we then bounty fees they received. Those days are TELEGRAMS. version of the affair, Kuropatkin.complained ble conditions in their own countries, that to the Emperor that General Grippenberg they are able to exist upon what would be any, and it has justified our prescience in have risen 40 or 50 per cent, and are at least 15 to 20 per cent, higher than in the à manner which affords us the liveliest plea- undertook the flanking movement in de starvation wages for a white man. It is not sure. Again, on the 28th of October, 1904, Cast. Even if the exchange fuse another $ fafice of order, and demanded the General's claimed that they are naturally more thrifty we remarked, with equal foresight-referring finers to send their product out here, as 10 per cent. it would not pay Continental dismissal. Grippenberg was fecalled, but it and abstemious under their new conditions to the introduction into the Legislative Coun does not appear to have had a very satis-then they were when in their own country; cil of a Bill to give effect to Article VIII. of cy formerly did. With the present prices factory result so far as Kuropatkin's career they simply live the life in which they have the Brussels Sugar Convention of 1904-thal kely that conditions will materially alter for ing in Europe and it is extremely un- forces practically hemmed in on three sides, gued, has reached a higher--it may be a faster "The tatements presented to shareholders at considerable time to come-the prosperity Rozhdestvensky's squadron sailing away into and, after all, less worthy-plane of existerice, fining Company, for the two year Sugar Rohe China Sugar Refining Company space, and the approach of summer, which and their ideals are vastly different to that offing the years previous to seem to be assured for several years nt any

1903, bear sufficient evidence of the detrinlen Asiatics generally. Then, again, when there in influenca which sugar receiving the bounty will assist the Japanese when they come to

Prate. When the Brussels Convention was deliver their next blow at Vladivostock, the are so many unemployed in the larger centres operated against the Hongkong refineries. In signed, it was commonly assumed that the position of the Russian army in the East of the United States, good reason could '90s, alone, the effect was most damaging, price of sugar here would immediately rise; is not a happy one. Again, while Russia be shown for excluding those who are likely about twenty-five per cent. of the paid up but prior to the adoption of the Convention, speaks jauntily of the funds at her disposal to cut the ground from under those who are capital, of two million dollars, of the concern manufacturers in Europe sent out as much

being lost in the fight against the State-aided although she has been ousted from every busily engaged in trying to keep their approduce that found its way in such enormous sugar as they could in order that they might financial quarter in the world--the busy pointments. It is an example of the old quantities to the markers within the zone where earn the bounty before it had been with, Japanese have managed to curry favour not Scotch adage proving superior to all diplo our refined sugar was hitherto sold almost ex drawn. They flooded the China market,' only with the American financiers but also matic considerations. America is determin-clusively. It was thought that the period had and it took months to work off that stock. with German bankers, so that the questioned to "keep her nin fish guts for her ain arrived when some protection should be secur. The effect of the Convention was not there- of raising another loan if satisfactory terms sea maws," and that maxim is applied indis-ed against the intruder, which threatened forc apparent until fully six months after it can be arranged, is assured beyond the criminately. The McKinley Tariff Bill was

one time to destroy an industry fraught with came into operation-in other words, al- shadow of a doubt. From all these portents, a buffer opposed to all nations, although at

so many advantages to Hongkong Happily, though the Convention was signed in Sep the Convention of which Great Britain he it would seem that the end of the struggle is the time the British people looked upon it

came a signatory Power came into effect just tember, 1903, its effects were not realised in view, and there can be little question as as being peculiarly directed against them. towards the fall of that disistrous year. until March, 1904, when the stock which The wisdom of that action, as also the wis What the recuperative powers of the industry had been dumped into Hongkong from to whom the honours will fall,

dóm of the Immigration Bureau's decision, have been capable of will be learned | Europe was cleared away. Then the China remains to be proved. With their magni from that commercial Barometer, the daily Sugar Refining Company began to appreciate ficent prospects, America may be in a posi-list of quotations of our local stock exchange that success in their operations, referred to tion to deny the Japanese that promotion to In view of the amazing profits obtained durat the annual meeting. In the speech de Any other issue of the manslaughter case which they have aspired-citizenship in the ing 1904, it may be well to consider some livered by the Hon. Mr. Gresson, as reported from the sailing ship King George than was United States; but with Japan in the fore of the reasons which have conduced to this in yesterday's issue, no reference was made reached at the Criminal Sessions yesterday, front of naval powers, and capable of illi- success, and to see how far they are likely to the export of sugar abroat; but we be would have been mischievous. The Spanish mitable exertions illimitable because-they--to-affect the Company in the future. In his lieve it to be a fact that an important outlet sailor Emandes, who killed a shipmate last will be carried through 'on the basis of Tuesday week, was sentenced to three years' national pride and innate patriotism-it is imprisonment with hard labour. It was difficult to foresee what the end will be. quite plain from the evidence adduced on The result so far of the present war between behalf of the Crown that he struck at Olsen Japan and Russia has had an immense with his sheath knife in a moment of unen- effect or public opinion in Europe concern. durable exasperation, and not with a delibering the Japanese, and although that opinion ately murderous intention. The statements of may be merely one of respect rather than of the various witnesses showed that the young admiration, it still exists as a potent factor sailor, who has now gone to his final reckon in international councils. The Chinese ing, was as bad a bully of the high seas as have not had the energy or audacity-if it one can read of either in fiction or in the may so be termed--to claim the right of accounts of eighteenth century" discipline," citizenship; even their ambassadors bave while the accused seems to have been a been ridiculed, caricatured and fouted in man physically inferior who had hitherto the United States press, so that whatever borne a good character on the ship. At the influence they might have had, has been magisterial inquirythe prisoner was committed absolutely lost with the governing depart on the capital charge, but his Lordship the ments. But a separate niche has been Chief Justice pointed out to the jury accorded the Japanese representatives, and, yesterday that the crime charged by the truth to tell, that position has not been Crown against the prisoner was the lesser gained without industry and a calm persis- one of manslaughter, and the reason why tence which must excite a certain amount was that the deceased came by his death of consideration. The curious part of the deliberately, yet the act was done under cir- question is that it should have been left to cumstances of great provocation arising Texas to contest the right of the Japanese to from a blow, which the deceased had pre-Federal honours. It may be that other viously struck. It has been held, and it is the States had allowed the matter to hang in law, he said, that if a person upon receiving abeyance pending the final upshot of blow replies by striking the man, and deals the war now in progress, or that they results, that is manslaughter, if it can be were not so keenly antagonistic to all properly considered that the blow was the races other than those of Aryan stock, or result of the provocation previously received, that the ultra-excitable tendencies of Texan Had the provocation been a pretext it would blood, as fiery as the musangs of that State, saw a possible invasion of a highly-respec- have been marder, but on the evidence in this case, manslaughter was the proper table country by Japanese interlopers in charge. It had further been held that no pro- the granting of certificates of naturalisation vocation could render homicide excusable, to yellow aliens. Whether the decision but it could reduce it to manslaughter it of the Federal Immigration Bureau is might excuse a crime, and if the provoca open to appeal is. outside the question. ton was extremely grave the punishment the probability is that no appeal will lic might be practically nil. The lenient in against a Department which is charged with upon the case when passing sentence will, Bureau. Taking for granted that such is while acting as a deterrent from the use of the case, there can be no doubt that Cinada the knife, suggest the importance of man will follow America's lead, just as Australia ning ships as humanely as possible and of had forestalled it, and the Japanese will discharging bullics on the first indication only have recourse to the old countries, of their brutal natures.

where that antagonism to the yellow race generally has not yet become a factor in practical politics.

a

ALONG THE RAILWAY.

Tokio, 23rd March, 11.50 .. Our detachment, following up the enemy on 1st. just., entered Chantu, twenty tiles north of Kaiyuan.

Large bodies of the eneniy are retreating in disorder in a north easterly direction along the railway.

speech to the shareholders, the Hon. Mr. has been found, for the products of our W. J Gresson attributed the remarkable local mills, in the United States, at advance in the price of sugar, not only in remunerative prices, in spite of competition Hongkong, but in all pafts of the world, to by the mills in the States. From succes. three causes: first, the reduction in the sive reports by Customs officials it appears "enormous stocks which had accumulated that the sugar production of the world falls in consequence of the over-production in far short of the demand. That this is like. the years immediately preceding the date of ly to remain the case is sufficiently clear the Brussels Convention; second, the dis from the fact that beet sugar-which has covery that, in consequence of the unfavour hitherto been a keen competitor against able weather in Europe, it was necessary to cane in this part of the world, is not now materially reduce the estimate of the growing produced in sufficient quantities to supply beet crop, and, third, the knowledge that the countries demanding the product, as in the world's consumption of sugar was fast the days previous, to the, Brussels ConvenE CHINA SUGAR REFINING overtaking supplies in hand and visible in tion. The reason for that has already been the near future." Another factor which stated. The deficiency is estimated at over

COMPANY, LIMITED, should be included was the large exportation a million tons a year, and, while it lasts, by MEETING OF SHAREHOLDERS, of sugar to the United States of America, the inexorable law of supply and demand,

23rd ing. And it should also be bome in mind that prices must increase in proportion as the The twenty-seventh annual general inecting the effect of the Convention has been to supply falls short of the world's require of this Company was held at the offices of the limit the production of beet sugar in Con- ments. So that no matter what standpoint and Company, at noon to-day. The Hon. Mr. General Managers, Messrs. Jardine, Matheson linental countries, particularly in Germany, is taken in viewing the question, the pro-W. J. Gresson, presided, and there were also where over-production was the regular order sperity of one of the most important indus- present Sir Paul Chater, c.M G., Messrs. E. of things, so long as bounties existed and a tries in the Colony may be considered as Shellim, A. G. Wood, A. J. Raymond, 11. N. paternal Government encouraged competi-sured. Even Nature has supplied her 'Mody, W. H4 Gaskell, A. G. Stokes, J. R. Mic- But all that has quota to the elements which make for suc- chael, Potts, Ho Fook, W. Cruickshank, tion in other countries. been changed by the Brussels Convention, cuss Two years ago the shortage in the A. Roger E. Hinds, E. S. Joseph, F. Smyth, M. with the consequent result seen in the water supply led to the closing down of the Northcote, GT Veitch, A Turner, T. S. annual report of the China Sugar Refining mills for a short time; but with the recent Company. We have been well aware that rainfall a continuous supply of water is well-vening the meeting, as prices increased for refined sugar so, nigh a certainty, and now that we have en- relatively speaking, did the price of raw tered upon the wet season, the water stor. sugar advance in Java and other countries age for the year can be reckoned upon for whence Hongkong refineries derived their the remaining months of 1905. Consider supplies of the raw product. One theing the Convention per se, there can be no reasons assigned by the Hon. Mr. Gresson we opinions on the subject. Although for the magnificent results achieved by the there were pessimists who failed to see the mills under the management of his firm, was benefits likely to be derived from the work the increasing consumption of sugar in ing of the Convention so far as Hongkong China. It is an exceedingly satisfactory was concerned, the result has amply fulfilled state of affairs that China, the recognised the prophecies of those who saw in it the have at last realised expectations. The was only a few weeks ago that a deputation consumption of sugar within the Middle of confectioners, and others who use sugar in Kingdom is bound to grow as China their manufactures, approached the Colonial

Furies, 5. J. Michael, and others.

The Secretary having read the notice con-

Celegraph terpretation which he subsequently put such plenary powers as the Immigration outlet for Hongkong's manufactures, should regeneration of the sugar industry here. It sary to materially, reduce the estimate of, the

The Hongkong Telegraph

AMERICA AND THE JAPANESE.

(23rd March.)

CHINA SUGARS,

The extraordinary success which has attended the operations of the China Sugar Rufning Company of Hongkong during the past year scarcely received that pro- minence in the brief statement delivered

The Chairman Suid-Gentlemen, in. ac- contance with local custani I propose to lake the report and accounts as read. In the year. 194 there was a remarkabe advance in the price of sugar all over the world. This rise may he attributed principally to three causes (1) the gradual working down of the enormous stocks which had accumulated in consequence of the over-prod on the years immediately preceding the date of the Brussels Convention (2) the discovery that, in consequence of the unfavourable weather in Europe, was neces growing beet crap; and (3) the knowledge that the world's consumption of sugar, was fast over- MAIL SUPPLEMENT,

taking supplies in hand and visible in the pear ISSUED GRATIS TO SUBSCRIBERS.

ure. Under these circumstances prices in is opened out; and the enlightenment S cretary with a list of grievances, alleged our consuming markets continued to advance, HONGKONG, SATURDAY, MARCH 15, 1901,

of the people-which is certain to come to be the outcome of the Convention's and we were able to obtain a very satisfactory as intercourse with the outside world is operations in the United Kingdom. It will argin of profit on the refiing of our stock of cultivated, and the Chinese of the interior not be out of recollection that the deputa acquired while prices were comparatively Faw sugar, which had for the most part been KUROPATKIN'S RECALL.

are brought into contact with Westerners tion retired with a flea in their car, having low.

Another noteworthy feature of our (29th March.)

here on the threshold of Southern China-will signally failed to secure the objects they business during the period under review was After a gallant if apparently hopeless

lead to a higher scale of living, in which sugar | had in view, or indeed Ministerial sympathy, the demand for refined sugar in China, our struggle against the Japanese forces in "Man- The order by the Federal Immigration

will play no unimportant part. Hongkong | The Government remained satisfied. that natural and best outlet, and I am pleased to churia, General Kuropatkin, of whom so Bureau of the United States, against the

stands at the gateway of that most fertile coun- The Convention would prove a distinct boon, shy that consumption there showed a consider

able increase over that of any previous year. much was expected, has been recalled to St. granting of naturalisation papers to the

try, the Southern provinces, just as Shang- and would ultimately work to the advantage Turning to the accounts, and the appropriation Petersburg, and the command of the Japanese, is one of the most important that

hai holds a relative position with respect to not only of the Colonies but also of the

of profit recommended, you will notice that we Russian troops has been entrusted to has been issued for some time. It practical

the Yangtse Valley, and it is to Southern home industries. It was fortunate that such propose writing $3000 off the Swatow pro- General Linievitch. Few wars have pre-ly means that the Japanese are classed with

hina that Hongkong manufacturers natural. a view was held by the Home authorities, perty, which I regret to say seems likely to sented such a holocaust of lost reputations the Chinese in the ostracism which is applied by the Chairman at the annual micetly look for the part disposal of their pro and we have no reason to believe that Great remain unremunerative for an indefinite period, as that now proceeding between Japan and to the yellow race. In face of the positioning of shareholders held yesterday, which ducts. The war now proceeding in the Britain will withdraw from the compact and to put aside $150,000 to font an equaliza Russia. Each genera, in turn, left Russia occupied by Japan in the affairs of the world at might have been desired. The fact that a northern territory of China is also calculated which she entered into with such advantation of dividend fund. Bearing in mind the amid a fanfare of trumpets-from Alexcleff the present time, when Japan can well prove Company with a capital of $2,000,000

to broaden the views of our Eastern neighgeous results. Altogether, the record of the nearly a third of our capital was for the time reverses suffered only two years ago, when to Stoessel; each promised that Russia her claim to hold the status of a first-class should have been able to make a profit of no bours, and as their requirements come more China Sugar Refining Company, whose very being lost, this will, I am sure, meet with your should never see him again, except as a power, the order seems to be singularly in

less than half its capital in the course of a into line, in other respects, with those which existence has been so vitally wrapped up hearty approval. The experience of recent modern Cesar, dragging his captives be- opportune. The "yellow perii" idea, how single year, is an achievement which can be our education and contact with them will in the Brussels Convention, is of supreme years also points to the expediency of forming hind his chariot; or a fallen hero with a fever, is ever present to the American characterised as nothing less than pheno certainly impart, so will the demand of the importance to Hongkong, and we can a repairs and renewals account. It is obvious claim to the deathless regard of his com mind, and it has always been repulsive nenal; and the result certainly redounds to people for the goods and the manufactures, only trust that the future holds as golden that machinery and plant depreciated with use, patriots. But Japanese tactics quickly put to American sentiment that Far Eastern the credit of the general managers of the with which we are able to supply them, herves to for the industry as did 1904, and and that renewals are constantly being required, to meet which, in bad times, there is often co an end to such frothings, and now even Asiatics should fraternise and compete company, Messrs. Jardine, Matheson & Co., crease. One of the most noteworthy felt under the agis of the "princely house"

money available, and it is therefore highly Kuropatkin, who may have been more the with the white race. There is in this and to the managing staff at East Pointures, also tending to the prosperity of the shareholders will have no cause to grumble desirable that a fund should be created to pro- sport of fortune than the victim of his own trace of the old Southern feeling But while the success of the past year's China Sugar Refining Company, has been the at the parsimony in a commensurate dis-vide for the outlay on plant, which must from incompetence, follows the rest of his against the equality of any race with those of working must be extremely gratifying to all decrease in the production of beet sugar da tribution of profits to which they are justly leaders to the more salubrious atmosp' ere the old Saxon seed; as evidenced in the who are interested in and connected with the the Continent of Europe. When the bounty | entitled. of St. Petersburg General Linkevitch, who objection to equal priviléges being granted Company, it is also peculiarly satisfactory to system was in full swing, the producers on assumes the important though dangerous to the negro slave of former times; and the us; for little more than a year ago we ven- the Continent cultivated and manufactured The following table of statistics, regarding command of the Russian forces, hedged more recent clamour against the clevation of tured to predict the result which has as much beet sugar as they possibly could; the production and consumption of sugar about by the indefatigable Japanese in the negroes to offices under the Government. now been attained. On the 4th of January, for the very obvious reason that they always throughout the world, is the latest compilation wilds of Manchuria, was probably first heard At the same time, it has to be borne in mind 1904, we. wrote, editorially, as follows: depended upon the home market for the we have found on the subject:- of by the outside world during the that the United States is not alone in the feel. There is no doubt that the sugar refining consumption of the greater part of their Boxer war when he commanded the ing which would restrict the immigration of industries of Hongkong are at its very mo stock, while the remainder could be sent Siberian troops. He is by years of the Japanese to their own soil. Australia has ment on the threshold of an era of prosperity abroad to compete with cane sugar at bottom age, but is reported to be as active vehemently protested that Asiatics generally such as they have never enjoyed before. Sugar prices, and this they did successfully. The

refining should be one of the principai indus as a young man and immensely popular should be precluded from touching Austra tries of this Colony, and now that it is unfet. import of sugar by other nations into bounty. with the Siberians. When the war with lian shores, and a law to that effect was tered by the unfair Competitions of the beet fed sugar countries was out of the question, Japah broke out, he was commander-in-chief set in force some years ago. In Mel product, hitherto bounty fed, there should be of account of the preferential duties. But of the Russian forces in Manchuria, but was boume, ah enthusiast, who sees in the adinis no reason why the refineries should not get since the Brussels Convention came into "superseded by General Kuropatkin. Acsion of Japanese to Australia the reclamation good markets for their refined sugar, with a fait effect, Continental producers are no longer cording to the reports which have come to of much waste land, has vainly argued, in margin of profit. It would not be wise to pre certain of the home market, and consequent, fiand General Kuropatkin's recall was and out of season by means of speeches, dict put it is possible that the next five years. primarily due to a quarrel with General pamphlets and imitation medals, that the may set the sugar repping business in this in order that no loss may be incurred, they have restricted their output, the object Colony largely Buguiented, The position of Grippenberg. There are tab conflicting highly civilised Japanese, after passing abort Hongkong in relation to the finest cane sugar being to avoid the danger of being left versions of the incident. According to one of preliminary examination, should be freely producing country of the world places it at an with 'a' Heav}'` surplus' stock which could of them General Grippenborg complained | enrolled as citizens of the Federation; but enormous advantage over any competing coun-I not be disposed of. Formerly," the

1

דיי

tiona

!

1974-05. 1993-> 1993-03: 1900-93,

Tonk. Tans. Tons Topi

time to time be necessary, and to enable us to acquire any of the new improvements in machinery which are frequently being brought under our notice. For this purpose we pro- pose to appropriate $150,000. I have pleasure in testifying to the zeal and diligence displayed by the Company's staff and as a mark of ap preciation you will doubtless confirm the bonus which it is recommended be granted to the stocks Sept. etuber) 1,433,000 1,982,000 1,998,000 5,09 European employees. Having materially et avear produc

strengthened the position of the Company, we $120,000 5,888,000 5,114,000 6,231,000 are also happily able to recommend the pay- Cane sugar produse

Tùn **** 6,300,000 6,132,000 6,18,000 6,1,ement of a final dividend of $15 per share, mak

ing a total of $20 per share for the year, and Total 3,452,000 14,202,000 3,000,000 1933 carry forward to next account $42,817,75, and Stocks August 3, 1, 12, this, gentlemen, I hope you will consider satis- World's consumption... 12,970,000 11,900,000 4,000 factory. If no further information be desired I The increase in the world's sugar consump beg jo propose the adoption of the report and tion for 1903-04 is divided among the various accounts.

Germany, tons........................................ 300,000 countries in the following manner

Austria, jongkonumunda - 85,000 .France, tons

Belgium, tons...................................................... Holland, tons.......

30,000 15,000

There bing no ques ions, the Chairman moved the adoption of the report and accounts. g Mr H, N. Mody seconded, and the resolu tion was unanimously carried.

Mr. A. G. Stokes proposed the re-election of Sir Paul Chater, CMG, and Meters, A. G.