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TANJONG PAGAR DOCK.

EXPROPRIATION DILL,

MR. TURNER.

Mr. Turner said,--The acquisition of the T. P. D. Co.'s property by the Government of the Straits Settlements for which this bill provides will, I am convinced, serve the best interest of the Colony. Not only will this be so as regards Singapore, but far Penang also the measure is highly desirable. The North Settlement is the natural outlet, or inlet, for a much larger share of the trade of the peninsula than it is general, ly credited with being, but facilities for deating with that trade are urgently needed. The com- pany's property at the mouth of the Prye River

is the most convenient starting point, in fact 1 may almost say is the only starting point from which to carry out works to give the required facilities. As it is to government we must look for carrying out works of the magnitude that these should ultimately be, it is necessary that the property be vested in tovarnment. The more closely one looks at the proposed men. sure in all its bearings, the more obvious its advantages to the Colony becond.

MR. TAN JIAK KIM. Mr. Tan Jiak Kim supported the Bill. Chi- nese ships had found it necessary to keep away from the docks on account of the enormous charges. He had made careful inquiry and he could assure the Council that Chinese traders were unanimous in supporting the Government in acquiring this property. He was not pre- pared to discuss the details and he was not prepared to assent to the 5% charge but that could be discussed in committee. He support ed the bill because he thought it would be for the public good. (Hear, hear).

THE COLONIAL SECRETARY. Mr: F. G. Penney would congratulate the newest member on the way he had carried out his gladiatorial duties. The despatch thc Secretary of State was not to be taken as an indictment of the company as such, but the question was, to put it plainly, whether they should subordinate the most important com mercial and shipping facilities of the Fort to the interests of the shareholders, or promote the best interests of the Colony. Was to he the domination of the dividend or the control of the Colony? Correspondence and figures already quoted had anticipated him he was thankful in say-and shown that in the pasi there had been a deficiency of what accoming dation and there were grave grounds for

doubting the ability of the Co, un provide what was wanted. It was a matter which should not be ineasured by the amount spent by the Board, of the dividends paul, but by the re quirement of the trade of the Colnay. Apae from any discussion of satisfaction or dissatis

|

THE HONGKONG TELEGRAPH, SATURDAY MARCH 25,- 1903.

for their action was that the Co. had been connection with the first reading of the charged with a great public trust; it had de Tanjong Pagar Dock Expropriation Ordinance. clared itself unable to carry out that trust excopt 2. I confess on reading this despatch to some on conditions that would seriously incon- surprise that arguments have been used, far venience the public. That was a reason for the justification of the course decided upon by relieving them the trust which they could not the Government, which, I maintain, are contrary or would not discharge and putting it into other to fact and to some disappointment that greater hands. They had been told that the 8,000 care has not been taken in the adoption of shares would have given them a quarter of the views, the expression of which can hardly fail, voting power of the Company. What was the

in the subsequent more material stages of the use of that? The whole case was that the proceedings, to prejudice the interests of those control had been away from Singapore, instead so deeply concerned in the issua! of roog in Singapore. Possession of voting. power would not remove the effective control from London. To give Singapore the control of the Docks, the control of the Co. must be in Singapore and that was the object of the

mcastro.

3. Were this Ordinance, as in my humble opinion ought to be practicable, subject to the review of Parliament my mind would be easy and I need not trouble the Secretary of State with any criticisms of a despatch of his to one of his administering officers; but when, as is literally the case the Government of the country proposes to dispossess Tritish citizens of a pro- perty, which it is no exaggeration to represent as second in value to no properly in the whole of His Majesty's Crown Colonies; without so inuch as allowing sufficient time or opportunity for the concerned to present their views of the case. I submit there is little need for me to apologise in adopting what so far as I can sec is the only course left to me,

THE DIRECTORS' SCHEMES. It had been said that the directors were ready with their scheme of finance. The Council had not been furnished with any of the particulats which would make that argument of much value. No doubt there were many points that could be further considered in Committee, the question of payment for compulsory acquisition for instance. But he would remind the Council that a good many of the expenses which generally went to meet were alrendy included 4. So long as we remained in the belief in the clauses of the bill. Why should the that the Government was actuated in the Government pay the full value of the shares course it had decided upon solely by considera. and recoup the shareholders for any incontions of the highest policy, my fellow share venience caused by compulsory acquisition, holders and I felt secure that the initial legisla- and then add

tive presentment of the case would leave not ing to be desired on the score of fair treatment, 5. When however I find that suggestions and representations, inspired apparently. by a desire to belittle the value of the property, which the Secretary of State found ready at his hand, have been used without the pretence of an inquiry to substantiate them, as a justification for the Government's decision, 1 must protesi by every means in my power against the injus. tice of such methods.

FIFTEEN PER CENT. MORE out of the pockets of Singapore? That is what it comes to (said the Governur); we give them everything they can possibly claim, the value of the property is assosed as fairly as it can be, and then we are to add fifteen per cent. He could hardly find words to express his surprise at the idea. That the Gavernment as trustees

for the public-fos government has no money of its own, and if you pay money you must gel it from the public, from the tax-payer and slip- per af Singapore-should have to pay that fifteen per cent extra was nonsirons, and we could not look at it for a moment. At all events kave a fair price, but why add to that fair price

15 per cent?

WROSE FAULT WAS IT.

He thought there was a difference in opinion between Mr. Shelford and Mr. Anderson as to who was responsible for the delay in carrying out the schemes of improvement. He himself had gone through the files as far ago as 18 when there was a special reserve för renewals

Secretary of State. His main contention that the Compapy has not kept itself up to the demands of the port is I maintain abundantly reluted in the figures with which I supplied him in my letter of the 14th October, 1901. A Company which was able of its inception to deal in six months with only 57,000 tons of shipping but has developed itself into a cap. ability of handling 2,332,000 tons in the half year is scarcely chargeable, one would have thought, with neglecting its field of operations. The Secretary of State refers to the Company as a practical monopoly. It is so, but this arises not from any intention to make it sa per se but simply through the Company's energetic policy of increasing its wharlage resulting in an absorption of almost all the available foreshore, maintain that any representation that the Company has not been equal to all demands of the port is next to baseless and the best answer to the charge is the freedom from complaint which it enjoys throughout the length and breadth of its vast and manifold business operations.

18. To come now, however, to the Secretary of State's principal count against the Company that it finds itself, behindhand in its prepared ness for the great expansion of the shipping trade which has taken place to the Far East, I would respectfully express the doubt if the Secretary of State quite realizes the rapidity with which the change, particularly in the additional draught and the other enormously increased dimensions of modern tonnage, has come about. I do not go the length of repre- santing that the dissensions amongst us which led to delay are after all a subject for congrats lation, but I'do submit in all gravity that it is quite possible they have in this important respect ant been an unmixed evil. It is by no means inconceivable that a five years earlier statt might have been on lines (I lay stress again en deeper draught) which we might be realizing to-day had been totally inadequate.

Shareholders necessarily now become partici-

palors,

ADMIRAL DEWA

ADMIRAL ROZHDIESTVENTSKY'S FLEET, The Mukden victory was entirely news and 24. I have now touched upon such points of coples of the Singapore Free Prass were the Secretary of State's despatch as acom to eagerly snapped up and scanned. me as the representative of the great body of the In the meantine Mr. Tangka was busy with proprietors to be affected by the expropriation, to the admim, from whom presently came his call for my animadversion. I can well under-Stalf Captain, with the welcome news that stand the motives of high Imperial and Co- lonial policy which animate the Government would see our representative. If all about the in their desire to acquire so magnificent a pro- perty-none the less that I shall deplore, as ship was clean and orderly, the Admiral's sa- many others will with me, our severance from loon was particularly so. The Officers', saloon an enterprise to the building up of which the

is flanked by a couple of quick firers. The longest and bast part of our lives has been de furniture was not large in amount, almost the voted-but I repeat my regret that the Secre. only inflammable articles being a chair or two. tary of State, in instructing the necessary legis. Still, it was cheerful and bright, and when the lation, did not more rigorously guard himself electric fan was set a-going cool and pleasant, against the dissemination of opinions tending to jeopardize the later question of adequate compensation, to which I have felt it my duty to draw his attention.

23. As have already notified to you, the utter inadequacy of the Government concep. tion of the value of the property leaves no hope of any settlement but through the tedious and costly means of Arbitration. Fortunately no subtlety of argument can avail against the in- disputably great value of the property and the proprietors, if they have the feeling that they are being dispossessed of their great estate with scant consideration for their interests, are left with the consolation that no Umpire can possibly view their mile and half of wharfed foreshore, their graving docks, work- shops and godowns and their 618 Acres of town land, which in a few years must be come the busiest heart of Singapore, their con siderable, wharfage at Pryo Hiver and their interest at Tanjong Rhao giving at the same time due heed to the magnificent returns of the Company for the past thirty years, without an award which must be a near approach to their legitimate expectations.

As the Secretary of State's despatch has been publislied in Singapore I feel sure that he will see no impropriety in my intention im

6. The whole tenor of the despatch is to re-

While on this subject of the alleged back- present that the Company failed in an ap preciation of its unique responsibilities and

ward state of the Company may I be allowed was not alert to meet the increasing demands to refer parenthetically to some former negotia.mediately to publish this letter here.

tions with His Majesty's Government which

I am. Sir, the port. That its shareholders as ambodied threw the Company's development back several in the Consulting Committes-who had all years. After years of negotiation, during which returned home from long residence in the Colony and long direction out there of the Com any a her important work of the kind had to be pany's affairs have lost all interest in an enter

held in abeyance, the Admiralty and the Com. pany had completed an arrangement for the rise which had taken them and their pre-building of a graving dock on the most modern-Straits decessors forty years to build up and were now concerned merely in 115 capabilities as a

lines, capable of docking the largest battleship. diviient-pay og investment.

The Company was to provide the site and build the dock and the Government and Com- which was absorbed when the nominal value of such misrepresentation of the Company's at ranged and everything else down even to the 7. I most emphatically protest against any pany's respective shares of the cost were ar- capital of the company was doubled, so that titude towards the Colony or any such distor-tariff at which Government work was to be $1,5corco became by a stroke of the pention of the aims of the London Commiller. $yrona. That was done by orders of the London Committee, he presinned, and was their answer in the recommendation of the Singapore threctors that the wooden shari

should be changed into a permanent structure. He was rather surprised to hear from Mr. Shelford that this was to be nusirt of naval con-

8. I take particular exception to the extract from the despatch of the Governor of the Colony in paragraph 5 representing the pos sibility that parsimony was the policy of the shareholders for the attainment of advidend which would tell in the event of expropriation.

charged. Had this been.carried out which at the time seemed an absolute certainty the Go- vernment would have had in Singapore, for docks in the world. But unfortunately the several years back, the call of one of the finest Treasury would not ratify the arrangement and the project had to be abandoned. The Navy failed to get its dock and the Company lost several years of valuable titre.

JAPANESE SQUADRON,

TWO CRUISERS: A "CONVERT"; AND A STORESHIP.

....

Admiral Dewa is a middle-aged man, above. the average height of Japanese. He speaks English well, received congratulations on the splendid victory at Mukden with pleated cour- tesy, expressed his, thanks to the Singapore Free Press for its attitude towards our allies,

as he put it. The Singapore Free Press has an excellent reputation in Japan for its Comments on the war, and its friendly attitude toward us"—and courteously introduced our representative to the Stail Captain. This officer. is a bronzed keen looking sailor-all the officers and men looked as they should on activa ser: vice, clear-eyed, bronzed, hard as nails, and bearing the confident consciousness of having seen danger and being ready to meet it again.

The information available was naturally not great.

"Yes, the rest of the ficet is every bit as 'fit as these vessels. What are they? The Kasagi. Chitose, America Mara and Yawata Maru. We have had good weather, but it is warm here."

"The news from Yokosuka,” “Ah! I think it is good,

"No, we did not go to Hongkong, we cleared from Sasebo."

Then over a bottle of Tansan the position at Mukden was examined, and to, a suggestion that that glorious victory was due to the ves sel we were on, in common with the rest of the fleal-"Ah! the command of the sea.” ́ -

"We leave in four hours,

Your obedient servant,

W. G. GULLAND, Chairman to the London Consult- A cruiser with her coat off and sleeves turned ing Committee of The Tanjongup-perhaps we should say, considering the Pagar Dock Company, Limited. sex, her skirts tucked up and arms akimbo is Times,

not altogether a pretty sight. The Kasagi is evidently an example of the gun power theory, From her big fore and aft guns to her numer. oas secondory armament all was ready. The sponges and cammers over-bead had no painful newness. The hoists showed where shell had passed over them, the long series of rolled Bags on the bridge and, the semaphore signal. men, all told their tale. Most significant was the bareness of the vessels and the three Japanese Squadron here, says, the Singapore breech, while every sentinel carried his three Not entirely unexpected was the arrival of a emergency six inch shell standing ready to the Free Press of 15th inst., although when the cartouche boxes and his rifle and bayonet. Japanese flag went up at Fort Canning at Order, discipline and spirit were everywhere seven o'clock this morning it somewhat antici visible and, if a tenth of what we read be true pated the expectations of even the well-in-about the state of Rozhdiestvensky's squadron formed,

-God help them when the Kasagi and ber The warships were sighted from Mi Faber mates get to work. at seven o'clock and were promptly reported as four in number, two cruisers, a converted cruiser and a store-ship. The composition of the squadron is

ADMIRAL DEWA IN COMMAND.

INSPECTION OF THE ARMP SERVICE CORPS.

I cannot but believe that His Excellency tribution. That was the effort of a brilliant has by this time ascertitned that, however imagination, but it had never occurred to him

misdirected the expenditure may possibly have and he could not conceive on what grounds teen, parsimony at least has not been the could be justified. He would like to say that, watchword but that an honest endeavour has as regards the delay in straightening the

been made up to the lights of the management wharves, he could not adinit i al the Govern

to keep the enterprise well ahead of its work. meni was responsible for that. The delay

10. But apart from that His Excellency has arose because the Singapore Board of Directors

vince doubtless made more particular investi. could not send in any cominubication to

gation of say the last ten published accounts of Government without first submitting it to

the Company and seen for himself that the London.

shareholders for from paving the way for ex- HOPE, NOT DESPAIR.

propriation were denying themselves in the A point he would refer to was the lurid! interests of the expansion of the enterprise of agree that when a monopoly which had been picture that had been drawn of the difficulties the enjoyment of get earnin.5 to the extent of there to state clearly, viz :-that the Govern- i beyond the harbour limits, the Chitose to the Corps, on their parade ground at C Block,

faction with the Dock arrangements, and the anticipation of further delay under the ex- isting regime, was the question of finding the capital. They had been told that the re quired capital was "practically secured. They were told that the directors "could not hope to obtain the money." And later that they hoped to get it from customers. Those customers would look for a return either in en hanced dividends, that is enhanced charges, or a greater measure of control, meaning a closer monopoly. The Secretary of State had dealt with the overtures made for financial aid and greater Government control. He came to the conclusion that there was but one course open

for the Government to step in and take over The property, He was sure the public would

controlled thousands of miles away and in the interests of shareholders, was succeeded by a trust belonging to the Colony, managed on the spot by its best business then on the ordinar v principles of commercial administration, and that administration supported by public opinion. and backed by public money-n needed no argument to prove that it would strengthen the trade of the Colony and promote its best in- terests, making its commerce the paramount consideration.

THE COLONIAL ENGINEER said that reference had been made to his de- partment and the quarantine station. He would say that when the maiter had been de cided upon, permanent works to the value of 26,000 were completed in six months. As regarded the Singapore River improvements, they needed a good deal of surveying work and boring. When they were finished a report would go in to Government. One gentleman bad mentioned that some mud-larking had been going on. The Mudlark had been at work to some purpose and removed a quarter of a million tons of silt (hear, hear.)

SIR JOHN ANDERSON,

that would arise when the Government Tonk over the Docks, when decreased snarces ni revenue and misfortunes would dog their find steps. Why should a Board of gentlemen,

backed by the financial assistance of the Gov ernment, nominated from among the best mer- chants in Singapore, not be able to nage as nominees of the Government what they now manage as the nominees of the shareholders? He must admit that if the price to be paid for

the concern was an exorbitant one, it would be difficult for government to carry out the programme of new works laid down walnut resorting to other sources of revenue.

the had sa reason to suppose that the arbitrators world pay niher than a fair amount; that they would not take into account the future as well as the present of the company; that the com· pany was being offered a very large sum, for its shares which could have been had only a month or two age for a less sum; and further that the shares which liave been paying 13 pri cent could not, on the authority of their late

chairman, have continued to pay anything like that. It had been asked how the Government

were going to work this or that part of the business. He was certainly not going to

The Governor said he did not propose to commit himself on any matter of that kind into all the matters that had been touched until he had had the advice of those who had upon that afternoon. He wished to associate himself with what had been sand of Mr. Shel-

been assorated with it for so long. ford. From his speech that afternoon he had shown himself a worthy sea of a worthy site. a chip of the of 3 block. It had been said that he himself was not in favour of exproprie tion at first. The idea hnd not occurred him of trusting the harbour and Tanjong Pagar to such a board as the Secretary nj Štatė suggested. But he would like to point out that he had held and still beld, equally with the Secretary of State, the view that it was essential to the interests of the port and the people of Singapore that

TANJONG PAGAR SHOULD BE CONTROLLED BY SINGAP RE

The Secretary of State had made it clear that the attitude of the London Committee wa we will have no control unless our 12 per cent is guaranteed. What did the late Chair- man of the Company say at the meeting to which so many references had been made When the scheme for improvement was brought forward they refused to have published "unless it could be accompanied by a statement showing how the works recnm mended could be financed without endangering a dividend of ra per cent." He added that à dividend of 13 percent was very unlikely indeed to be maintained. He also, curiously enough, prophesied that the effect of referring Mr. Nicholson's report to another expert would be to increase it by 25 per cent., which is exactly what has happened.

WHAT CHANCE 12 PER CENT,

If it would have been difficult to maintain the 12 percent dividend on works to cost twelve

over $50,000 a year. That is in say that had the shareholders been pursuing the, shalt 1 say, somewhat unworthy practice attributed to them they would have been dividing in dividend 2001

the paltry 1414,000 they have contented them- selves with for many years hack but the sum af the $1,000,000 per annum which is the amount of the annual net earnings of the Tanjong Pagar Deck Company as shown by its publish

ed accounts.

Q

1. I cannot avoid the reflection but I men-

19. However, financially, the delay of course also finds the Company only more competent to contemplate extraordinary expenditure. The Company's credit is stronger to-day than ever it was. The impression to the contrary which the Secretary of State apparently derived from my telter of 14th. October is I think scarcely warranted. The Company's desire that the Government should be its Banker for this extraordinary expenditure was absolutely and exclusively for the reason that I attempted ment's equally zealous interest in the progress of the Colony right lead is in lend on terms which would enable the Company consider ably to accelerate the completion of the work. The negotiations with the Goverment in short were solely in the interest of the best terms.

20. The Secretary of State, liewever, ap- parently has gathered the impression that it might be onerous for the Company to finance the scheme. Nothing could be further from the fact. The Company had rande all necess.

tinn it with every possible respect that mystiary arrangements for the money and the fication which the shareholders have found in

Government's refusal to lend to the Company would have made very little difference. The Company had decided in any case upon the immediate carrying out of the whole scheme

as laid down in the plan and upon its comple: tion within a period of ten years or less if that were possible, and this was plainly stated in my letter of the 14th. October.

"KASACI" (FLAGSHIP) AND" CHITOSE" "AMERIKA MARU" AND "YAWATA-MARU,”

The cruisers came in straight from the East and anchored about 4 to 6 miles out, well north, the Kasagi central, and the Yawala, Maru to the southward. Well down on the horizon was the Amerika Matu, the converted Toyo Kisen boat, which has been here before She apparently anchored ten or twelve miles out, possibly to form a link in a chain to what ever other ships may be outside. She came up to the anchorage of the other ships at eleveb o'clock, and the four vessels formed a con spicuous and formidable-like fails fleet to the east of the Harbour.

On the ships being signalled a telephone message was sent up to Government House At the same time the Master Attendant's

launch Dolphin went off with Boarding Officer l'estana to carry out the necessary legal warn within twenty-four hours. At the same time ing about neutrality, and about leaving the Port

a launch was detailed with FC Mulcock and another officer to lay by in the vicinity of the squadron.

Just before a.m, there came in to John. ston's Pier

22nd inst.

At 9 a.m, to-day II. E. Major-General Villiers Hatton, G.0.C., inspected the Army Service Queen's Road, and expressed himself entirely satisfied with the general appearance and turn out of the men. There were to evolutions, and after the inspection His Excellency visited the quarters of the corps where he found every. thing most satisfactory, and congratulated the men on their own appearance and that of their quarters.

HONGKONG, AND FISCAL REFORM.

Commenting upon the resolution brought forward by the chairman of the Chamber of Commercú and his remarks thereon, the Ja- cite approving Mr. Chamberlain's proposals pan Chronicle says that at the time the plebis- was passed we ventured to point out this very consideration, and it is interesting now to ob serve that the Chamber of Commerce has be. come aware of the damage that might be done to the interests of Hongkong if the policy of Free-trade which has made that place the greatest port in the Far East should be depart- ed from. In effect it would seem that the

that might be done by them. The people of Eng- anxious to avoid any possible personal damage Hongkong merchants, while holding with Mr. Chamberlain's proposals as a pious opinion, are

the low figure of $140 per share offered by Govern, ent is solvable on the supposition that it was arrived at while the Government was still under the impression that $44 000 was the extent of the dividend of which Tanjong Pagar was capen a system of parsimony. composition be insisted upon and a discrimin

FZ. !! the dissection of the Company's

atan is to be set up between the Committee on this side and the Board on that (a treatment of the subject which however I have no desire to participate in) then I am compelled to assert and prepared to prove up to the hit that the whate weight of the proprietary on this side for the greates expansion of the resources of was utilised in years of struggle with the Board

the Campany to cope with the ever growing Company was finding itself at the end of its lieutenant, went to the Master Attendant's and may, it seems, rightly be called upon to

THE PYSTIFICATION FOR THE MLAURE, demands of the Colony and without a moment's The u-Lication of the measure, justifica: hesitation on the score of expenditure. tion were required, was that the money required

13. It is perfecily true that there were for the extension which their own experts internal dissensions am 15 For greater stated were so necessary would be placed at Bodies than Tanjong Pagar have their inter the disposal of the new Board by the Govern maldissensions with equal difficulty in prevent- ment. Instead of the money having to be boring their publicity. But Tanjong Pagar dissen rowed at 6 per cent, it will be borrowed at a lower rate and the benefit wou'd accrue to the trade of the port. As regards the five per cent charge, he would sals ay that it had been put in the bill by the Secretary of State, and he thought it would have been very unsafe to put in a lower rate.

THERE HAD TO BE A SINKING FUND DE 'ONE PER CENT,

sions arose, not as the Secretary of State would seem to suply, from any concern as to dividend results, but solely from the determination of the Committee that whatever the cast, the modernization of the Company must proceed without farther delay.

21. Not only so, but, foreseeing the probabil. ity that the Company's regular business would be greatly hampered during the reconstruction, the Company had entered into negotiations for the acquisition of the P. & 0, and St. James properties by means of which to replace the facilities of which they might have been tem- sufficiently answers any suggestion that the porarily deprived. This alone it is hoped

financial resources,

32. This brings me to refer to the use in the despatch that has been made to the Company's detriment of an incidental remark during the conversation which took place in your Office on the 1st. Oct ›ber The point being discussed was the ability of the Company to dispense altogether with Government financial assist ance, and it was pointed out that even without borrowing at all from any one the Company could still do the work out of its customary reserves although in that way it would take it much longer, possibly thirty years. But it has never one moment been contemplated to do this special work otherwise than with special financial arrange-

14. The initial bone of contection was the representation of le- Committee that the affairs of the Company old no longer be attended and he did not think five per cent was a

to in the intervals snatched from individuatment enabling its completion in ten years less. very wide margin, or that it could be safely

business that an expert Managing Director reduced. I was absolutely necessary from the bal become an indispensability-and the Com first that the new harbour beard should be seifmittee may be said to have forced this appoint supporting. It would no longer have to satisfy shareholders and therefore would have no nar

con.

ricular abject in raising rates, the main object being to increase the efficiency and cheapness of the port. They would have every incentive not to increase expenses more than was absn tutely necessary in the interest of good manage meat, and he hoped they would become cern like the Mersey or Bombay Trust,-it was absolutely essential that they should pay their way, but backed with the credit of the Go vernment and managed by themselves in the interest of the trade of the Colony. (Applause).

The motion was then put.

The Company were too deeply interested in the reproductive benefit to be derived from the completed work not to want to strain every nerve to accelerate its completion.

ment in the teeth of the Board's most deter mined opposition. Yet without it so commen

3 The copy of the despatch has thrown a surate progress would have been possible and much-needed light, upon the reason why the it was only by means of it that the Committee Government found the Committee's offer of were at last able to produce the comprehensive 14th ctober so incapable of further negotia scheme of deep water wharves recently ap tion. I am completely mystified as to how it proved of by the Colonial Office Engineer, has arisen, but it is clear that a mistake has This scheme, which the Secretary of State hint: been made in providing the Secretary of State self commende, the Committee emphatically with facts of the first importance. The Secre- claim as the ultimate attainment of the object tary of State writes of the 20,000 shares of for which they had to struggle with the Board which it was suggested the two Governments should become possessed and carrying votes of only 500 whilst I bad represented that the

for years.

THE "KASAGI'S" STRAM VINNACE with three naval officers on board. They were met by Mr. T. Tanaka, the japanese Consul,

quy one of the Japanese officers, a navigating Nakamnu, his successor. After a brief callo Mr. Kamura, manager of the M.B.K., and Mr.

office and having obtained permission from Government, checked his chronometers. The other two went to the Telegraph Uffice. All of course, preserved a strict reticence, but the telegraphic news of

which was news to the fleet, was received with great satisfaction both by them and on the ships.

THE MUKDEN VICTORY.

Mr. Tanaka went back in the pinnace to the Kasagi, In the meantime the other Japanese gentlemen, and a representative of the Singa- pore Free Press went out in a launch to the flagship. These, and a representative of Messrs. Thompson Thomas and Co, naval contractors, were the only visitors to the men. ofwar.

Coming up to the cruisers, their formidable appearance was most striking.

The Kasagi and Chitose, it may be remem. hered, are American built ships, the former being built at San Francisco and the latter at Philadelphia, both completed about five years ago. They bristle with guns, each having two 8 in; ten 47 in; twelve 12 prs, and smaller guns. Handsome vessels they are, low in the water, with fine lines showing that their 21 knois is not merely a nominal speed, Spick and span from end to end, the crew were care fully removing traces of bad weather from their sides, and all was busy activity and order.

The America Maru is well known in the

but she has a big gun mounted forward and The Yawata Maru is apparently a storeship,

endure the taxation of food if "Imperial inter- cats are thus to be served; but the merchants of Hongkong would like to consider very closely any scheme which may affect their particular interests before giving assent to it Objection the ground that the Hongkong Chamber of was raised at the meeting is the resolution on

Commerce was a cosmopolitan body, and it was as if the Government was asked to submit proposals affecting the British Empire to merchants some of whom were not British, but the resolution was eventually carried with only four dissentients.

THE LATE SIR ROBERT

JARDINE.

Sir Robert Jardine, whose death is announced at the advanced age of eighty, was not only a territorial magnate in the Lowlande, and a politician, his career in Parliament carning him baronetcy, but was also a merchant prince, being the head of the great London firm of China and East Indian Merchants, Messrs. Matheson & Co, and founder and godfather of the corresponding Calcutta and Hongkong firms of Jardine Skinner & Co., and Jardine Matheson & Co. He was a good all round sportsman and in his day owned a number of racehorses which were for years in charge

sporting journal says that Sir. Robert had a be did not achieve classic honours, a Calcutta very fair measure of success in the chief Eng- censure implied by him in his remark liberations of the Board. He apparently sup- that the voting power offered him was of which 13 vessels were sighted at fa.m. of the more than once. In 1889. he was. the Lin- lish bandicaps, some of which fell to his share poses that home shareholders dominated the votes of the Board. This was very far from thesory. But I submit that: as such trifi

Harsburg by Capt Slaker of the Hong Wan took the Manchester Cup in 1885, with Borneo, colnshire Handicap with. Wiseman, while he ing with the Secretary of State was case. Of the nine directors three only could scarcely conceivable a more thorough in Slaker bad to 'exercise all his navigating skiti and in 1886 with., Riversdale, and divided, the possibly be considered as subject to London vestigation should have been instituted to get through.

Their search-lights were going,., and Capt influence. The other six were absolutely in The fact is that by an alteration of the Articles

spoils with Mr. Buchanan in 1894, when that 16. But these internal troubles were not, ingested holding carried a voting power not of dependent

owner's Shancrotha dead heated with Sir Rob- of Association dated 11th. June, 1904, the suground to seaward was received. The gangway had a special prediction and won-it-no- Approaching the Kasngi a brief order to go

ert's Red Ensign For the Ascot Stakes he a relative survey, after all, of a very prolonged soo only but of 10,000, and it is difficult to sentinel at the head, until cards had been sent

was reached, but visitors were stopped by the less than seven, times, viz., with Teviot- harmonious management, which have distin-Government vote would not have been effec

sion. Lord Bradford's Retreat came in first

35. I fear I am somewhat labouring a shade | voting power they would carry would give the East, as she used to be on the Pacific run. of Fred Bates at Tupgill, Middleham. Though Secretary of State by paragraph of his des- been as the Secretary of State understood of the subject which I have disclaimed but the Government "effective control." Had it really

million dollars, what chance would there be of Called for, Messrs. Shelford and Waddell voted patch evidently misapprehends the power of should certainly have been open to the grave another aft. The squadron is undoubtedly

doing it on works costing 15 million dollars? The Company would have to undertake great works not immediately remunerative. The re- construction of the wharves would be dead work for the time being. The increased charges would have to come either out of dividends or from increased rates. It had already been

the the Committee to make itself felt in the de-

It was declared carried. Co a division being "No" the remainder of the Council "Ay", bill being thus carried by ten voles or two,

EXPROPRIATION CONTROVERSY.

AN INTERESTING LETTER."

We have been provided by Mr. J. R.Nichol Dock Co., with a copy of the following letter, son, Managing Director of the Tanjong Pagar which in the present state of affairs as between

PART OF TOGO'S FLEET

said that he had brought no charges against the Company. The late Chairman of the Company had himself done so, and to his mind they had not been answered. He gave distinct instances and repeated that the policy Mr. Gulland, Chairman of the London Con

the Dock Co. and the Government, will be duration and for the past year the conditions of imagine circumstances in that case wherein the in. Then we were courteously invited to sit dale, in 1880 and 1881-on the latter occa- read with great interest. It is addressed by of the London Committee was that the iz per cent dividend was not to be touched. For sulting Committee of the Company to the Un. Kuished by far the greater period of this Com- tive whenever it was desirable to exercise i under the shade of the bridge, Japanese officers but was disqualified for cannoning-in 1883 pany's long and prosi erous career, have been The intention of the Committee was strictly to were gravely introduced and questions asked with Ishmael, in 1854 with Greenbank, in 1880 these reasons and for reasons of public policy der Becretary of State for the Colonies:-

completely restored. For the Secretary of State give the Government practically as absolute and answered. The vessels report therefore to imply that a temporary dissension control as it will have under the new Ordi- amongst its control-a by no means infrequent nance. experience of all large enterprises-was an argument for expropriating this particular enter prise is I submit open to the objection which I have represented.

he thought there was sufficient justification for the course they had adopted.

*HIGH-HANDED' AN EPITHET OF ABUSE. Their action had been called high-handed. High-handed was an epithet of abuse and not much of an argument, but if it were applied because they had taken immediate action, surely the action taken six months hence would be equally high-handed. Thair justification

London, 9th Feb. The Under Secretary of State,

Colonial Office,

Downing Street, &. W. Sir, I have to thank you for your obliging compliance with my request for a copy of the despatch of the Secretary of State to the Gover- 17. But this is all detail. It is however or of the Straits Settlements, dated 4th Novem- detail forced upon me by the harmful promin- ber, 1904, which was published in Singapore, [ence accorded so in the arguments of the

with 3 1.

GOOD WEATHER DOWN

except for five or six days ago, when heavy to refer to now but in their calculations it Some remarks were passed about feeling the The subject of price is perhaps a delicate one rain and a little rough weather was experienced. seems to me that both the Governor and the heat, as they have come straight down from Secretary of State have omitted to take into the cold Japanese waters. Nothing was to be sufficient consideration the high premia of said of furture plans but keen interest was taken former issues of capital and the years upon in the latest news from Manchuria and ques- years of accumulated regoryes la which new tions poured ja about

and 1890 with Lord Lorne and in 1893 with Enniskilleo. The Royal Hunt Cup, in 1884, he took with Acrostic, and the Northumberland Doon. With Llanthony, who captured the Plate, in 1881, by the instrumentality of Bonnie Northumberland Plate of 1895, he scored his last important win; bis earliest being in 1877 when Hilarious carried off the Cœsarewitch, The Jardide colours Dark Blue, Silver Braid" are not quite unkagra in Calcutta,