TAI UN" a "KWONGTUNGA
COLLISION CARE,
FURTHER PLEADINGS ORDERED. At at o'clock this morning His Honour, Sir Francis Piggott, Chief Justice, presiding in Admiralty Juridiction, delivered the following Judgment in the case, which has been reported lo full in these columns --
The plaintifs, the owners of the steamship Tai On, sue theowners of the steamship Kwong tung for damages in respect of a collision "between the two vessels in the Canton Fiver, which occurred in the channel south of the Salt Flats, it is alleged through the fault of the Kwonytung.
The two vessels left Hongkong within an hour of one another an the evening of the 10th May, 1954, and proceeded to Cantos, which they wore bork med to reach até am on the 17th. The Tai On, the slower venel, left first, She was passed by the Kwongtung off Tiger land and remained astern for some time, being sighted by persons on the Kwongtang when that vessel was up to the "Whampoa Barier at about 4 am. The evidence of broth
ides
agree on this point.
By the custom of the part of Canton, ships are not allowed to enter before 6 mm. and it is also the custom of the port that ships should enter in their berthing order.
THE HONGKONG TELEGRAPH TUESDAY FEBRUARY 6 1906.
;
As was very frankly admitted by the learned | by adopting them, it is necessary to see how far counsel for the plaintiff, the evidence is con- they agree "with" or conflict with the“ evi" flicting, les indeed conflicting. I hinted dence. I have therefore extracted' from the during the trial that it might be possible that statements of the witnguses on both sides what the Fourt would believo 'neither of the stories they say as to the relative-positions of the two of the two captains, and this is proved to be a ships: fact; for, as I shall show presently, not only
[Continued on page 7.) does the evidence of the captains of the two ships differ, but there are serious discrepancica on both sides in the evidence given in support of the caprains stat menis. This has necess sitated a most minute calculation of speed and distances which I now proceel to explain
The speeds of the two vessels at different times may, with one excepison, be taken A they were given in evidence, as the experience of Captain Morrison confirms them. The n On was going all through the material time at 6 knois over the ground. The Kwonglung's half speed is knots. After the Kwongtung had gathered her full weigh, that is after her full speed had taken, full effect, she was going at 74 knots over the grund under a low head of steam. The debateable question is
is whether she was put to full speed from half speed as Captain Walker says or from slow as Captain Lawrence says. The time within which sha the two cases and I must examine the question would have gathered full weigh will difer in foin both points of view taking two minules as the time from slow to fell speed and one minute as the time from half 10 full The berth of the. Kwonglung was higher up speed, noting, however, such variations as the river than that of the Tai Un She would may be necessary owing to the Kwongling's therefore have precedence in entering it e port, exigincer's statement that the time from Jalf to lioth ships were damaged slightly but the full may be rather more tinn one minute. The direct consequence of the collision, was that Assessor cnusi 'erk, ufter a very careful exam the Kwong ung ran into and sarka valt junk ination of the chart, the pahinus both at the at anchor on the south bank of the channel point of overaking and collision given by beside the Salt Commissioner's yamen, causing | Captain Waker to be fairly accurate, this dis damage to her owners to the extent of $20,000. lance being 4,900 feet. We shall however This mentioned at the opening of the case and determine with greater accuracy. The also the fact that an agreement had been en- Assessor is also of opinion that the time of tered into between the owners of the two ships overtaking was 5.22 and the time of collision that the owner of the ship found to blame 5.28 That is to say that hath ships. ran for six should hear the loss occasioneil to the owner minutes afterthe Tai On overlook the Kwang. of the junk. I regret that this list was men-tung and before, the collision occurred. The iloned because it seemed to indicate ʼn desire Kwongtung therefore an for five minutes at 71 on the part of the 'scapers-n mit laudable | krots: 3,660 feet taking the knot as 6,080 feel,
!
Today's Advertisements. EQUITABLE LIFE ASSURANCE SOCIETY
OF THE
·UNITED' STATES.“
LETTER TO POLICYHOLDERS FROM THE PRESIDENT."
NEW YORK, December 14th,, 1905. TO THE POLICYHOLDERS: -
To-day's Advertisements,
ten years, some, of which involve a financial loss to the Society.
The liabilities disavowed by thesociety, and the amounts restored to the Society, approxi male G $1,000,000, and legal proceedings have heen Instituted for the recovery of considerabid additional sumo. ̧* ̧***
ANNUAL AUDIT,
hult will be the policy of the new administra. Han of the Society to insist on on ladependent audit of its accounts as to its fiscal condition, hee each year, the result of which will, bo published....
AND NOMINATION' OF DIRECTORS.
To-day's Advertisements.
* HONGKONG JOCKEY CLUB
RACE MEETING, 1905, MONDAY, TUESDAY, WEDNESDAY AND SATURDAY (OFF-DAY). 12th, 13th, 14th and 17th February. TICKETS OF ADMISSION to the GRAND
STAND and ENCLOSURE may be obtained from Meists, KELLY & Walsh, LTD", or at the Gate. Price $7 for the Meeling (excluding the Off-Day), or $3 par day.
Tickets for the Off-Day, $2
shown to the Ticket Inspector at the Gate.
No one admitted without a Ticket to be
T. F. HOUGH,"
Clark of the Counse
густу
7 Hongkong, 6th February, 1996.
HONGKONG, JOCKEY CLUB.
Under the change in ownershipof a majority of the stock, the shares wete at once, put in rust; and Directors are now nominated by the rastees Hon. Grover Cleveland, justice Mor. gan J. O'Brien, and Mr. George Westinghouse. Thirteen Directors are chosen annually, and be Trustees will each year offer an oppor unity to the policyholders to express their pre ferences in respect of the choice of Directors.THE STEWARDS request the pleasure of the presence of the LADIES at the GRAND STAND and ENCLOSURE during the Races on the 12th, 13th, 14th"and-apth instant,
POLITICAL CONTRIBUTIONS.
best to wait until I could give you a final con- HAD hoped to make some statement to you before this, but I have belleved it was
clusion in regard to the financial condition of It will be the policy of the Society hereafter the Society based on full investigation. This not to make contributions to political cam explain the delay in communicating with you.paigns. It is my opinion that we have to 1 shuld have full power as to men and such purpose
On Jure 9th last, under the condition that, right to use the funds of the Society for any methods, and with no pledges of any kind to any one, I was elected by the Directors of the store assumed the active management of the CHAIRMAN of the BOARD, and
Society's affair..
at are
Soon after I was dected PRESIDENT of the SOCIETY and the Office of Chairman was abolished.
One of the first acts of my administration, was the employment of Messrs, Price, Waterhouse Company" chartered accountants of Great Britain and New York, and Mesiņ, Haskins & Sells, certified public accountants of New York, to investigate the affairs of the Society, under directions to render complete and ex-
on the following subjects: The
REAL ESTATE MORTGAGES.
ver G Sr20.c00,000 on real estate mortgages, In the last ten years this Society has loaned
mbatly in large cities. Only in six of these cases has it hind to take property under fore- closure and in these six instances the property was sold so na to net a profit. It will continue o be the policy of the Society to make invest- ments of this description.
COST OF INSURANCE.
ན་
The very essence of life insurance is safely and this can be secured only by reasonable premiums.
J
A Stand and an Enclosure will be reserved for Members anil Member Wives and Famille", Tickels for which will be sent out with the Members' Tickets after WEDNES DAY, 7th instant:
admission.
All Tickets must be produced to gain
Bpecial accommodation will be reserved for Chinese Ladies and their Female Attendants in the Stand erected on the plot of Ground next
I. F. H UGH,
Clerk of the Course, Hongkong, 6il February, 1906' (208
HONGKƯNG JOCKEY CLUB. NO SERVANTS will be allowed inside the
to the Lusitano Club Stand.
desire as it scena to me!hat justice should and one minute gathering weigh at ef knots) habe Society's annual expenses, including whether it will pay them to continue their during the Race Days WITHOUT TICKETS
be done all round,” But it is clearthat no con. sideration of what I may call rough justice as equity shouflappear in influence ile conclusion at which, with the most valuable co-operation of the
Assessor, Captain Morrison agreed to, by
that is taking the average between and itnots gives 633 feet--in all 4,293 feet.. The Tai On ran for six minutes at of knots in all 3,966 feet. The length of the Tai On is safeet that the difference between these two results, bath part
parties, I have arrived it in the more amely 337 feet, is nearly two ship's lengths, important that I should state this, because the Kwongtung gathered full weigh from have to deal with a highly artificial rate of half to speed in rather more than one procedure in the construction of whicherficie is minute, as the engineer-stated, this difference no 100 much guidance in the booksor author-would be only slightly reduced, This calcu
legal expenses, advertising expenses, agency
expenses, and cost of security business.
2. The real estate investments of the Com pany, including in the case of each parcel the value at which it is carried upon the books of the Society; the income which it yitids; and the fair valuation of the property, whether above or below the value at which it is carried real estate experis may be employed in as certaining the value and income of the real estate, subject, of course, to my approval as to men and terms),.
A great many Equitable policyholders are doubtless asking themselves the question policies. To such I wish to say most emphati- eally that my investigation of the affairs of the Society has convinced me that there is no. cheaper way for the policyholders of the Equitable to have sound life insurance then by relaining their policies. As I have pointed but, the surplus of over G. $67,000,000, are safely, invested upon a basis which returns an rate of interest upon the revised valuations, plish such economies that the cost of adminis- ration and securing new business will be seduced to the lowest possible basis consistent with anfety and efficiency. I, accordingly,. believe that by continuing your policies in the Equitable you will receive life insurance at the lowest cost consistent with safety.
IN ENCLOSURE of the RACECOURSE.
which can be had on application to the Under signed between WEDNESDAY, 7th, and
MONDAY, 12th isstant,
·T. F. HOUGH,
Clerk of the Course. Hongkong, Gil February,-1006
RACE HOLIDAYS.
[309
ties. I must note ton that such an agreement | lation is important in the first place as showing upon the books of the Society,' (I necessary, excellence, and I expect in due time to accom 1 CLOSED for the Transaction of Public
at has been referred to seems to have obyiated the necessity of a cross-action for damage to to Kwong ung in which the application of this rule of procedure might, I think, have been simpler than it is. There is, however, no cross. action ner have the proceedings taken the form of an action by the owner of the junk against the ship owners.
Having thus cleared the ground, I proceed to examine the facts and arguments advanced by both sides,
Paragraph 11 at the plaintiff's preliminary act alleges in the first place that "The Tai On had passed the Kwongting."
that Captain Lawrence's point of overtaking and collision are incorrect. He says he over look the Kwongtung at the fort on the end of the Salt Flats and the point of collision is 1,200 feel more to the east than that given by Captain Walker, The distance between his two points is 7.393 feet and no calculation on any possible basis of speed justifies it. Moreover, were his point correct the Tai On would have been still further be bind the Kwongtung and the collision could not have occurred at all. This calculation shows something else to which I will refer presently,
The material point however, is not so much what the position of the two ships was althe me of the collision as what occurred during there six minutes.
Did the Tai On first pain the Kwenglung and was she then overtaken by the Kwongtung? We must see therefore what she position of the two ships after the first and after the recond, minute. It is not necessary to go fur. her b'cause after the second minute the Kwongtung had gathered her fall weigh and beime then the farer ship, the Tai On could
3. The other investments of the Society; their character and the circumstances, under which they have been made.
4. The Society's surplus and the manner in which it is carried upon the books of the Society,
I therefore advise you to continue to pay your premiums; to allow your policies to lapse 5. The methods of keeping the Society's will be doing yourselves injustice. Your con accounts, and the respects in which its account-tracts with this Society are as safe and sound ing may be improved.
anything earthly can be. Where lapses have already accurred the agents of the Society will cheerfully assist in restoring policies.
..
6. The relations between the Sariety and the Iruat companies, banks, safe deposit companies, and other institutions with which the Society is affiliated by dwnership of cons derable amount of stock or otherwise. (In the case of every corporation in, which the Society, has a dominant or important interest, or wil which the Society has special relations, the owner ship of stock other than that owned by the Society should be ascertained so far as practi- cable).
7
The subjects covered by the report of the Investigating Committee of which Mr. Frick was Chairman should be fully investigated.
niennent ur roulette liek weg)
8. When the report of the New York Super: report should be carefully studied and every matter covered by it or by the recommendations of the Commissioner should be carefully exam. ined
Subsequently a still more elaborate plan of investigation was agreed upon with these accountants, and, I doubt if any American In- surance company ever before hud such an exhaustive examination.
li bas taken a large force of men five months to ascertain the exact financial status of the Sciety, now fully exposed by the balance sheet transmitted with the following note and repro- duced on pages 6 and 7.
The defendant's first argitment deals with this statement; he relies on the rule in which have referred above and which for the present 1 adop: in the form in which it is usually stated the Count will never allow a panty to -contradict kis own Preliminary Act' at the hearing"-and he maintains that the plaintiff's evidence does and bear out this allegation, that, if he has proved anything, it is another fact altogether, and that, therefore, whatever fault thie Kwongtung may have commited in increas- ing her speed if he fault the plaintiff must, hil in his action. But I think this argument not have overhauled her After the first goes too far. Eistnrated, it is, as I understand minute's sun, the Kwonging had covered 633 It, this ;—The facts set out in the Preliminary feet the Tai On 6'1 feet. After the second Act amount to a statement that the Tai On minute's 18 the Kwangtung had covered 633 was the overtaking vessel and, therefore, this feet, the ai On 66t feel. After the second statement must be rend subject to Article 24 of minute's run the Kwongturg had covered 633 the Regulations for Preventing Collisions at plus 733 feet (or rather is if she took more Sea-in other words, that this sentence of ihan one minute to gather her full weigh), in Paragraph 12 of the 'reliminary Act must be al 1.3/6 feat. The Tai On in the same time rend: The Jai On was past and clear of the had covered 661 plus 601 leet, in all 1,323 feet Kwongtung" This was supported by a further feet. Given these speeds, it is clear that the argument that breaches of the Regulations Tai n could not have gained more than must be specifically stated if not by a reference 44 feet which, giving her to feel overlap to the actual number, at least by language at the moment of overtaking, would not, corresponding to the regulations, and this is put her anywhere near where she alleges supported by the text books...
she was. It would only bring her bow about But the Aster has explained to me the up to the funnel of the Kwongtung, but she wide difference which exists between the word never could have passed her. But the extra -"past" and the term past and clear," the ordinary part of this catrelation is that though later term.as used in Article 21 means that it is iased entirely on Captain Walker's own the overtaking ship has not only passed the figures it contradicts the evidence of himself overtaken up but is sufficiently clear to god is witnesses. He abus that the Tal On's mantenvie with safety, which she could not do bow was lite forward of his own bow," if he were merely past, I can therefore not which is supossible. Net only that but, with assent to this argument, for if I were to hold these figures, the Tai On a the end of the six that the word "pasti" must be read as past and minutes run would have been so far behind, clear in the sentence i have quoted, it would 350 feet that in this case also the collisioning the true Financial Position of the Society. be tantamonat la balding that no action would ¦ could not have occurred. Bus there is, as 1 net lie on an allegation that the Tai On was have said, one figure in this calculation which past the Kwongtung merely. I think that this is no doubt the speed at which the Kwongtung action is one for an alleged breach of the was going when the ouder full speed ahead was Regulations applicable to the facts as set out given. As the fact of the collision having oc and think further that, though there is no reference to the Regulations, by number, there in sufficient reference to them in Paragraph 14 of the Preliminary Act which, specifying the fault or default attributed to the other ship, Lays: Not keeping to the winrboard side of the channel, not keeping out of the way of the Tai On; not slowing down, not stopping or reversing engines when danger of a collision Brose,"
1 shall presently go into a minute examina. tion of the figures. For, the present, however, it is sufficient to say that the Tai On was not past and clear of the Kwongtung and the evidence, in my opinion, wariauls this con- clusion.
curred does not fit in with Captain Walker's figure of speed, we must try Captain 1 awitrce's statement as to the Kwongings speed, fie say she was going slow. The Assessor gives her 3 nuls if this is true. Further, her own engineer gises her 2 minutes for gathering full weigh from slow to full spred. We have, there- fore, this reruk:-The Kwangtung would have run 4 minutes at 74 knois-2032 feet--and 2 minutes at an average spred between 3 and 71 knot, i 2., 2 minutes at §), knots-1,040 feet-in eli 3,972 feel. The Tai On, as we have seen, had run 3,966 feet. The importance of these figures is this :-We do not know
* exactly how.
EXTRAORDINARY EXPENSES 18 1905. langratulata you and all policyholders in solvent concerns on the reformatory results of the agitation of the past year. This Society alone has undergone four separate investiga. ions since January 1st. The extraordinary legal and other expense entailed thereby is amply compensated for by the enforced restitutions and checked waste herein above referred to and
hy the final assurance you now have of the wenty th convinced that this and other investigations and the resulting stimulation of discussion havo attracted public attention to the impregnable
the moss efectually than could have of established conceras like the
been done by any other means. While these vestigations may have been destructive of individual reputations, the utility of life la- surance has been more fully demonstrated than ever before.
There will be no effort by the new adminis tation to have the biggest company in the world; the effort will be to make it the best and Conservative lines will be followed. It infest will be the policy not to solicit or secure now business at the expense of the present policy. holders, and in case it is determined that business in any section of the world is unpro- fable, that field will be abandoned.
New York, November 25th, 19 5/ Mr. PAUL MORTON, President,
The Equitable Life Assurance Society of the
Over 98 per cent, of our death claims are United Stater, 128, Broadway, New York. settled within 24 hours after proof of death is DEAR SIR-The exhaustive examination which we liave made of the affairs of the Equit-eceived, and since January 1st, 1905, through able Life Assurance Society of the United this Society alone has paid aut in death claims all of the agitation concerning life insurance, States is so far completed, that we are now able to furnish you with a Balance Sheet show and benefits of other kinds, over G. $116,799
every working day.
•
on September 30th, 1905
The Assets of the Society as claimed were all found to be on hand, and amounted in value to G $415,166,500,10 as shown by the Balance Sheet,
The Surplus over and above all Liabilities nounted in G 57,149,865.42.
་
Assuring you that it will be my constant Endeavour to conduct the affair, of this Society in a manner that will morit your hearty appro- bation, I am,
Very truly yours,
+
PAUL MORTON, President.
BALANCE SHEET.
September 35th, 1955.
G. 8
ASSETS
|
THE EXCHANGE BANKS will be
Business at 11 45 A.M. on M÷NDAY, TUES DAY and WEDNESDAY, the 12th, 13th and 14th instant.
Hongkong, 6th February, 1936, 'GREEN ISLAND CEMENT COMPANY, LIMITED.
Tato
THE ANNUAL MEETING OF SHARE HOLDERS in the Company will be held in. the Office of the General Managers, St George's Building, Victoria, op SATURDAY, 24th Febniary, 1906, at 11.30 A.M., for the purpose of receiving a Statement of Accounts and the Report of the General Managers for the year ending 31st December, 1905, "declaring a Divi dend and electing Consulting. Committee and Auditors.
SEVENTEENTH ORDINARY
The TRANSFER BOOKS of the Company will be CLOSED_from_TUESDAY, 201ắ February, until SATURDAY, 24th February (both days inclusive),
SHEWAN, TOMES & Co12, Hongkong, 6th February, 1956"
PUBLIC AUCTION. THE Undersigned bave received instructions
from the Hon. the Harbour Master
to sell by. PUBLIC AUCTION,
ON
TUESDAY,
.
the 13th February, 1906, at 1030, at their Sales Room, No. 8, Des Voeux Road, corner of Ice House Street, Five Cases RIFLES and EXPLOSIVES.
NB-Inspecting Orders can be had, on application at the Government Gunpowder Depit, Green Island.
TERMS-Asual,
HUGHES & HOUGH,
Government Auctioneers, Hongkong, 6th February, 1906.
[204
NOTICE TO CONSIGNEES.
"GLEN LINE OF STEAMERS. FROM ANTWERP,, MIDDLESBRO',
AND LONDON,
THE Steamship
"GLENLOGAN"
having arrived from the above Pons, Consignees Real Estate 28,550,270.00 of Cargo by her ate hereby informed that their Secured Laaa3,775,006.04oods are being landed at their risk into the Bonds, Stocks and other Securi-
**235,538;062.00
་
Cash in Banks and Trust Com
panies deposited with Foreign Governments and in transit. 10,727,986,01 Prendime in course of Collection 3,895.447.04 7,664,040.76 Agents' balances ORTAMA CON Interest and rentals duc.......... 4,014,091.65 Total ansels...G. $4 6,166,500,10)
LIABILITIES.
341,802,061.co
Findowns of the Hongkang and Kowloon Wharf and Godown Co., Limited, at Kowlops, where each consignment will be sorted out mark by mark, and delivery can be obtained as soon as the Goods are landed
Optional Goods will be carried on unless Instruction are given to the contrary before 4 PM, TO-DAY,
Goods not cleared by the 13th instant will. be subject to rent,
No Fire Insurance will be effected.
Fr
General Insurance Reserve; net present value of all outstand
All damaged packages must be left in the Godowns, and à certificate of the damage ing policies computed with 4.03 and i per cent, interest
obtained from the Godown Company within ten days after the steamer's arrival. Current Liabilities: Death claims,
endowments, annuities and.
Naclairas will be recognized if not prezented dividends die and unpaid...... 3,556,794.81 | within 14 days of the ship'a arrival. Commissions and Current Ex.
MCGREGOR BROS. & GOW. penses..........................................................
[325 Inngkong. 6th February, rond.. Premiums, interest, &c., received in advance.coma ↑ var
2,195,434.19
1,399,354.68
A conservative revaluation of the Assets, in- cluding a re-appraisal of all the real estate owned by the Society or covered by mortgages bell by the Society, has resulted in a reduc- tion in certain of the values adopted in the Society's last Annual Report, principally in Real Estate and in Stocks of certain financial institutions,
Yours very truly, (Signed). PRICE, WATERHOUSE & Co,
Chartered Accountants. by A. I owes DICKISON. F.CA, C.P.A. far the bow of the Tai On over'apped the
(Signed) PASKING & DELLS, Kwangtung's quarter. But the point of ever.
Certified Public Accountants, This preliminary point disposed of, these taking it seems to have been about 50 feet
by ELIJAH W. SELEs, C.P.A. questions reionin to be decided-Was the The damaged plate of the Kwonglung
You will be gratified to learn: Tai on past the Kwongtung and, if so, was about 4 feet forward of ber stern
(t). That all the assets claimed by the Society was the Kwonglung in default and, if in past, so that, the relative position of the are on hand, are of a high grade, and are con- default, was her default the cute of or did it two
ships was to all intents and pur-servatively worth G $416,166,500.10, contribute to the collision? The law applic poses the panic at the paint of overtaking (2) That, over and above all liabilities, the able to the circumstances, as alleged by the as at the point of collision. There last figures su plus. is G 307.142,865.4 about seven plaintiff to be derived from the Fegulations, if bear this out, for at the speeds on which this eighths of which is a fund for division among this: The Tai On, being te overtaking ship, calculation is based the two ships had run existing deferred dividend policies at the end gas bound by Article 24 to keepout of the way of practically the same distance-3.972 feet and of their accumulation periods. the Kwangtung, the overtaken ship, and the 3,966 feet. It is, therefore, abundantly clear (3). That the reduction in the book value of
holl was not relieved of this duty of keeping out of that the Kwongtung was not going at our assets and surplus is caused by a revalua. the way or "keeping clear, as it is termed in speed when she was overtaken but at 3 knots, tinn on a conservative basis, and in no way. Article 24, by the fact that the Kwongtung that is slow as Captain Lawrence alleges; and
and reduces the income of the Society. Ther speed until the was finally past it is also abundantly clear that not only and in real estate which was carried at prices foo is the The decrease in the value of assets in chiefly' *The Kwongtung on the other hand 3 knots right, but that all the other speeds and d by Article 21 to keep her course positions on which the calculation is based artions which were carried at market prices high, and in shares of certain financial institu Ted. It is admitted that the Kwongtung right. We can now examine the different increase her speed after she was overtaken, positions of the two ships after the fint and based on transactions, which were deemed by
the accountants to be excessive, It is at this point that the highly technical and after the second minule. The Kwongtung The
RETRENCHMENT. arbitrary but slutary rule of procedure already after the first minute had run 520 feet. referred to applies" The plaintiff may not Tai On had run 661 feet, gaining 141 feet, contradict his Preliminary AcL"
After the iccond minute the Kwonging had The application of the rule is said to be run 1,040 feet and the Tal On 1,322 feel, thus this:-Unless the Tai On can prove that she gaining 181 feet, which is more than her had in fact put the Kwongtung she must fall length. Bet, and this is the crux of the cal in spite of the fact that the Kwongtung herself culation, the Tai Os, in order to get put the violated Article 21 by increasing her speed Kwonglung, would have to run 100 feet, that Whether or not this is the true application of is minus gefett, that is 48 feet short of actual the rule is, as i shall show presently, a difficult passing in the length of the Kwongtang question, but it seems to me essential first to minus the overlap 150 feet plus her own length
Under the past management transactions THE Steamship
"BENLARIG," there involving the expenditure of large sums of Recertain what in fact happened during the 187 feet in all, 337 feel. The tims which elapsed between the overtaking and fore, of the two ships at the end the second money have been carried through frequently Captain Wallace, will be despatched as above, the collision. If the Tai On did in fact pass minute was that the Tai On's bow would have without any proper authority of the Board of on or about the 23rd instant.. the Kwongtong, then it will be unnecessary to been 132 feet ahead of the bow of the Kwang Directors and with vary meagre bookkeeping For Freight of Fassage, apply to
GIBE, LIVINGSTON & CA. colder the legal question, If she did not, tung. Alter that time she began to draw records, so that it has been difficult in many then Ibis, quistion becomes of paramount im astein. The Assessor si checked and agrees Instances to secure explanation of certain tran-
with these calculations." Before, however, dants | sactions which have taken place during the last Hongkong, 6th February, 1906, portance
1
Position
Capital Stock ..edagonomisine 100,000.00 CANADIAN SALMON
Total liabilities 349.073,63168 Surplus.................. 67,142,805.43
416,166,500.
We hereby certify that in our opinion the above balance sheet is correct and is properly drawn up so as to show the true spancial posi ion of the Society at September 30th, 1905.
· · Economies amounting to ✪ $600,000.00. year have already been introduced, which if capitalized on a four per cent, basis would be equivalent to an additional investment of over. G $15,000,000. This more than covers the marking down of allets. I expect to institute still further economies of a radical character.
RESTITUTION,
(Signed) PRICE, WATERHOUSE, & Co. [211 (Signed) HARKING and SELLS, "BEN" LINE OF STEAMERS, FOR LONDON AND ANTWERP.
AND. HALIBUT
FRESH AND NICE.
40 CENTS PER 18.
THE HONGKONG FROZEN FOOD SUPPLY.
SEE OUR PRICE LIST ON FADE 8.
ong, fit February, 196.
Intimations.
ROBINSON PIANO
CO., LD.
THE APOLLO
PIANO PLAYER
IS A
MUSICAL TRIUMPH.
You should htur it.
RECITALS DAILY
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$375 AND UPWARDS,
1
'VICTOR TALKING
MACHINES.
WITH TAPERING ARMS.
LATEST OPERAS, AND SONGS,"
Hopang, 1st Februity, 1906
Trade
TELEPHONE NO. 135-
THE
Mark
PISTILLERS
COMPANY
LIMITED,
Edinburgh, Glasgow,
London.
GINS
PER
DOZEN
IDCL
OLD TOS
$8.00
DRY GIN
Old Tom and Dry.
SOLE AGENTS
H. PRICE & CO.
13, Quran', ROAD URETRAL:
Lengkong, sith Deamber
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