1907-03-16 — Page 12

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CHINA AND MANILA 8.S. CO., LD

VERTING" OF SHAREHOLDERS, The twenty-fourth ordinary gederal meeting of shareholders in the China and Manila Steamship Co., Ltd. was held at the office of the General Managers-Meur Shewan, Tomes and Company-at elbven a'clock, on the 13th inst. Mr. Ri Shewan presided. The others

present were: Dr. J. W. Noble, Messrs. N. A. Siebs, H. P. White, A. G. Gardon, R. E. Bar. retto and G. Moffitt (secretary},

The notice convening the meeting was read. The Chairman said Gentlemen,-The re- port and accounts were issued to you on a3th February, and with your permission we will" now lake them as read. As I foreshadowed to you at last year's meeting the past year's business does not compare favourably with that of 1905, both cargo and passengers fell off, our gross income being some $50,000 Jess than before. By the closest economy we have made up partly for this so that our net profit is only about $27,000 below last year's. After allowing for depreciation and placing $100 to credit of Reserva Fund, as per Articles of Association, there remains sufficient to pay a dividend of $1.00 per share, absorb ing Szó,oco, and leave $365.57 to ba carried forward. You will observe that our loan from the Company's bankers was reduced from about $190,000 to $133,000, and that in- terest paid has accordingly come down to 59,835, as against $13,189 paid the year before. The sundry debtors and outstanding receipts on 31st December have since nearly all been collected. As regards the present year I can only say that we have not begun it badly, and that at the moment there is a much stronger feeling in the coasting freight market which I hope will keep up. Cargo is, however, far from plentiful in this trade nowadays. The number of Chinese shippers on whom we used to depend for a great deal of cargo is much reduced, many of them having closed their firms in Manila, and ceased to do business there. The complete alteration that has taken place in the character of the China and Manila trade amply justifies the step we took in building boats for first-class passenger traffic, for had we the old type of boat and only Chinese passen gers and cargo to depend upon now we should be badly off indeed. I shall be glad to an swer any questions which shareholders would like to pat

There were no questions asked.

THE HONGKONG TELEGRAPH SATURDAY MARCH 16, 1907.

GBO, FENWICK & COMPANY, LIMITED.

ANNUAL REPORT..

The directors have now to submit to the shareholders statement of accounts for the year ending 31st December; 19c6.

After writing off the sum of $3,000.00 for de preciation the set profit for the year amounts to $21,470.10, to which has to be added the sum of $8,915.84 brought forward from last year's ac count. After payment of directors' and audi- tors' fees, it is proposed to pay a dividend of 7 per cent, or $1.75 par share on the paid up capital of the Company, which will absorb $18,500.00, leaving a balance of $10,335.94 to be carried forward to new account.

DIRECTURE.

Mr. A. Rodger, according to the articles, retires, but offers himself for re-election.

AUDITOR.

The accounts have been audited by Mr. H. Percy Smith, who offers himself for re-election.

A. RODGER," Chairman,

Hongkong, 8th March, 1907. STATEMENT OF ACCOUNTS FOR THE

MONTHS ENDING JIST DECEMBER, 1906. Liabilities,

Capital, $450,000.00 vir:

6,000 Old shares of $25.

each...............$150,000.00 12,000 New shares of 25

each.............. 300,000.00

$450,000.00 and fully

ro,600 Shares issued

11

paid up LILE POSTOVIALS ..$270,000 00 Reserve Fund 64126,00 Hongkong and Shanghai Banking

116,335.82

Corporation Loan Account (Secured by Mortgages) Amount received in advance on

account of contracts in hand... 40,800.00 ....... 17,460.47 Sundry creditorski Profit and loss account

30,385.94

$539,106.23

Assels.

Value of land and building at Wan-

chai and North Point

$300,750.87

The Chairman proposed the adoption of the Value of machinery, plant, launches

report and accounts.

Mr. Gordon seconded.

Carried unanimously,

Mr. Barretto proposed that Messrs. N. A. Siebs, H. P. White, A. V. Apcar and Dr. J. W. Noble be re-elected to the Consulting Com mittee.

Mr. Gordon seconded. Carried.

Dr Noble proposed that. Messrs. W. II. Potts and A. O'D. Gourdin be re-elected audi- ion for the coming year.

This was seconded by Mr. White, and carried

The Chairman--That is all the business, gentlemen, Dividend warrants are ready now.

THE SUYCHEE COTTON SPINNING CO., LID,

|

and office furniture as per last report$51,123.14 Additions during the year, 7.458.39

Written off fordepreciation

HONGKONG ROPE MANUPAC.

JURING CO., LID

The report for presidiation to the shares holders at the twenty-third ardinary general meeting to be held at the office of the general managers on Saturday, 23rd March, at 12 n'chuck noga, is as follows! DOWN

Annexed we have the pleasure to lay be

fore shareholders the annual statement of accounts made up to the sist December, 1906.

The pet profit, including the balance brought forward from last year, amounts to $103,213.16 which it is proposed to appropriate as follows

To place to reserve fund...$4,000.00 ( To pay a dividend of $1.00

per share...................... 103,000.00. To carry forward to the credit of next year's

4.212.16

Account CEPETREZSA The result is a little bitter than that of the previous year, but sales are still restricted by the high price of hemp at Manila.'

CONSULTING COMMITTEE,

Mr. D. E. Brown having resigned on leaving the Colony, Mr. D. W. Craddock was invited to take bis place; in accordance with the articles of association Meters. "A. }, Raymond, H. P. White, D. W. Craddock and Dr. J. W. Noble retire, but offer themselves for re- election.

AUDITORS.

The accounts have been audited by Messrs., W. H. Potty and A. 09. Gourdin, the latter having been asked to fill the vacancy caused by the death of Mr. T. Arnold, Messrs, W, H. Potts and A. O'D. Gourdin. are recommended for re-election,

SHEVAN, TONES & CO., General Managers." Hongkong, 8th March, 1907..

PROFIT AND LOSS ACCOUNT, Interest ......................... Auditors fees...... Conselling Committer's fees....... Amount written off as depreciation

for 1906. Balance........DDIN

681.40 400 00 4,003.co

12,380,00 108,212.16 $126,673.56 Balance brought forward from 1995 5.5813.29 Exchange

385.82 Investment income' „nursecara 5.34a.co Balance from working account....... 115,134 45 $126,673.56

THALANCE SHEET. Capital- 5,000 shares @ Stofully paid up...$500,000.00 Reserve fund...............................................................ot 61,000.00

$58,591.53 3,00.00

55.591.53 84,787.63

60,972.42

Sundry creditors Investment fluctuation account...... Balance of p.ofit and loss account...

366 $2

BC-

Land, factory, machinery & P

Value of stock in trade as per

valuer's certificate.. Value of work in progress as per,,

valuer's certificate............. Cash on hand amenunuație The Hongkong & Shanghai Bank

ing Corporation current count =C7 47

...$ 5,372.55 .. Fixed Deposit 12,000.00

Do. Interest

177,21

The Chartered Bank of India, A; & C The National Bank of China, Liḍ..... Investments ........

Sundry debtors ...

17.549.76

THE ANGLO-FRENCH LAND "INVESTMENT CO, LTD.

The report of the directors for presentation at the first annual general meeting of the shareholders to be held to-morrow ready-

The directors have pleasure in placing before the shareholders the report and accounts for the first year of the company

Under the original agreement Certain feats were received as from ecember 7th and thus the shareholders are participating in the benefit of revenue for 141 months.

The balance at credit of profit and loss ac count is Tis. 138,388.14 which the directors recommend for appropriation us follows:-

Dividend of Taels six per

Reserve fund... Carry forward..

‚Tls. 120,000,00

и

15,000,00 3.388.14 Tis. 138,388.14

The gross rental for samanths alune amounts to Tis 121,000 ŵhich is in excess of the sum stated in the prospectus.

The properties have all been kept in good repair and developments and improvements are being made. One large block of Chines houses on Estato C..is being, rebuilt on very lavourable terms to the Company.

DIRECTORS.

AUDITORS....

A COXSWAIN'S "HEROISM,

PRESENTATION BY HIS EXCELLENCY.

At noon on the 1a,b iust in the drawing-room of Government House, His Excellency the teresting presentation to a gallant coxswain Governor, Sir Mathew Nathan, made an in- for life saving in the harbour, during the sudden squall of the 28th January last. There were present in the drawing room, to witness the prescatation, besides His Excellency the Governor, Captain Coleman, A.DC, Mr. K. A. B. Ponsonby, Private Secretary, Hoa. Mr.. F. H. May, Colonial Secretary, Hon. Mr. W. Chatham, Director of Public Works, Mr. A. M. G. Fletcher, Clark of Councils, Mr. B. A. Director of Public Instraction, Hon. g Dadeler, Captain Superintendent M of Police, and Mr. J. Dyer Ball, who acted as interpreter during the proceedings,

Sergeant Gordon, of No. 7 Police Station, conducted Ng so-tai to a place in the centre. of the room. Hoa. Mr. Hadeley then address. ing His Excellency maid that Ng So-tal was the coxswain of the steam launch Les On, and on 28th January last, during the sudden squall which struck the Colony, seeing a sampaa capsize as he was passing near, Ng jumped overboard and rescued a woman and a child hom drowning, thus saving their lives at the Mr. Gilbert Davies retires but being eligible risk of his own. He, Le speaker, would there fure ask His Excellency, on behalf of the Beli- offers himself for re-election."

Hos Trust 11, to present, the medal, which Messrs. Lowe & Bingham offer themselves he handed to His Excellency, to Ng Soial

His Excellency said, taking the medal in for re-election.

his bands, that, following all the disasters, that had touched the Colony, there was still a bright side. After the disaster of September Iasi (Typhoon Day) much good work was done. On the night of the 2016 October, when the 9.8. Hankow was burning, seeing it two sam pans approached the burning vessel, with the object of saving life and property only to be set on fire themselves. On the 18th January, quite suddenly just before tiffin time, a squall liyas lost were as many as those saved broke over this Colony, but the number of from a watery grave. Man's duty, said. His Excellency, was to save life whenever found in danger, and it was only when a man risked his own life for that of another that Govern. ment took notice of the act, and the report made by Sergeant Gordon on the gallant rescue by Ng Sotai had led Government to make representations to the Fund Committee, Ng So-tai had done his duty well, and it gave him much pleasure to present to him the star which he had earned, and of which the recipient and his descendants should be proud. His Excel lenty then pinned the star on the left breast of Ng So-tai, who bowed his acknowledge. ments and thanks, and the proceedings termin- ated.

C. R. BURKILE

Chairman.

PARTICULARS OF RSTATES On 28th February, 1957, Estate A East is situated on Rue du Con- selat, Rue Montauban, Rua Colbert; and Rue ial Guerre, and comprises part of Cadastral Lots Nos. 14 and 15..

Estate A test. Is situated on Rue Mon-

tauban, Rye du Consulat, and Rue de la Mis

and part of 12. sion, and comprises Cadastral Lots Nos. 35, 36 Estate A Mission. Is situated on East and West sides of Rue Montauban, comprising the remainder of Cadastral Lots 44, 15 and 32, and is occupied by the Roman Catholic Mission of Kiangnan as a Mission, Church, Convent,

etc.

Estate B-1 situated on the N.W, corner of Rue du Consulat aud Rue Montauban, and comprises the whole of Cadastral Lot ro 18.

Estate C-1 situated on the S.W. corner of Rue du Consulat and Rue Petit, and com- prises.the whole of Cadastral Lot No. 42.

Estate D-Is situated on Qual de Exten sion, Rue Minkiang and Rue Tienchan, and comprises the whole of Cadastral Lots Nos.

16,122.25241 and 252,

7,023,00

108,212,16

$693,357.41

as per last statement $271,500.00 Less depreciation... 13.380.00 $208,120.00 Rope, hemp &c, in factory, valued 123.87

107.514.34 3938 Rope on consignment, valued at... 175,362.co 1,289.72 600.00 Fire insurance premis for 1907 ........

111,5243 17,970.56|| Sundry debtors „versitpurni

14,894.48

9,310.04

Company's Bankers.......

$539,106.23 Cash in hand.

Cash at factory.

PROFIT AND LOSS ACCOUNT.

Dr..

To Cost of labour, material and working expenses...............................

To Salaries...esimer To Crown rent and taxes To Depreciation

To Balance, Profit to be appro-

priated as follows:- Dividend of 7 per cent on

1,003,00

10,800 shares.$18,900.00 Directors' fees............ Auditor's fee....... 19,335,00 Balance to new account 10,335.91

Cr.

13,967,00

2,160.04. 50,00

Investment of Reserve Fund:

2,500 shares in the

China -Light &

Power Company, Limited. Sta... 25,000.00 3,800 shares in China

+

35:150,00

$30,482 64

1,264.20 3,003,00

Provident Loan & Mortgage Co, Ld.

591

533 shares in the Green Island Cement Company, Li Sz!

17,103.06

30,385.94

$129,099.60

By Balance of last year's account...$ 8,915.84

Gross earning.

... 117.436.45

The twelfth ordinary meeting of shareholders of the above company took place on the 5th inst, at the offices of Messrs. Arnhold, Karberg & Co, Shanghai.. Mr. M. Mittag 'presided.

The Secretary, at the request of the Chair. man, read the notice convening the meeting.

The Chairman said-Gentlemen, The Re port of our Company for the working year 1906 has been in your possession for some time, and, with your kind permission, I will follow the usual procedure and take the accounts as read. You may indeed congratulate yourselves on the excellent result obtained. The working of the mill has been satisfactory all the year round. The mill has worked steadily with no interruption except the usual holidays. As has been our policy during former years, we have again restricted our production to day work only, as we know from former experience that night-work is both couly and not so profitable as day-work. We have had no labour troubles during the year under res view, and the internal departments of the mill, including engine room department, have worked well. The Yarn market during the year has been satisfactory on the whole. There was a great demand for the locally made article during the first part of the year, followed by a lull during the latter half, accentuating itself more since December, so that we carry at present a stock of some 4.500 Bales which, however, is all sold. The cutlook for the future is not bad, although the margin between prices of cotton and yarn has been somewhat reduced. There may, of course, be lean years for us in store, but on the whole the stay of the industry has been assured. The supply of Cotton during last year has been ample and of satisfactory quality, and, apart from our little SALE OF LAUNCH " APUNKADE” troubles with the dealers about the vexed watering question, there has been no ground for complaint. The total act profit of our mill, including the amount brought forward from 1906, shows a sum of Tls. 132,02453, put of which it is proposed to pay a Dividend of lo per cent on our share capital, absorbing Tis. 100,000. The usual depreciations, etc have been provided for, as enumerated in the report in your hauds, and an amount of fls. 50,663.40 will be carried forward to 1907 account. As regards the various items in the accounts, there is little to be said indeed. Our Property Account, under the heading Asses, shows an increase of Tis. 5,481,68, represent ing the purchase-money for two small strips of THE ROYAL HONGKONG GOLF

land on the North side of the Yangiszepoo Road, opposite our mill building and adjoin- ing our other property there. We have acquired this land te round off some smali strips bought previously, The Building Account bows an increase of Tis. B,506 37, representing mainly the balance of the cost of our new manager's residence. The house has been completed during last year and is now oc. cupied by our mill manager. The whole of our machinery is in perfect working order owing 10 the constant care bestowed on it. Before proceeding the passing of the Report and Accounts, shall be pleased to answer any questions that shareholders may wish to put to

me.

There being no queations the resolutions were put to the meeting and unanimously carried.

THE CHINESE REVOLUTIONARY

MOVEMENT.

By command of their Imperial Majesties the Etapress Dowager and Emperor fostructions have been sent to Viceroys and Governors of provinces that in dealing with suspects it must be the duty of Judges to find our whether the men brought before them are actually guilty of the charges preferred against: them; it is unnecessary to probe into the ques tion whether the accused belong to a revolu tionary society or not. On the other hand implicit instructions have been sent to the effect. that their Majesties-expect Viceroys: and Goremors of provinces to absts' not a whit in the search for malcontents and anti-monar"" chists R-N. C. D. Newes

:

12

Transfer fees....

J

Bonus from Insurance Co.........

11

Interest dividend on investment,

etc.

P

Debt written offin 1904, recovered

6,no 10.95

897.05

1,831-30 $129,099.60

JOHN I. ANDREW,

General Manager.

on

At Queen's Statue wharf, at noon the 13th inst. Mr. Geo. 1. Lammert, auctioneer, offered by sale by public aac- tion the steam-launch Apenrade. This ves sel has a teakwood bull, with a length over all of 50 feet, and engines of two cylinder compound system, both hall and engines being recently overhauled. Her speed is eight knots. Bidding went briskly on until the sum of 95 was reached, and that proving the last bid the Ip O firm became the purchasers of the launch at that figure.

CLUB.

The monthly competitions for the Robertson Farewell Cup and May Cup were held at the Happy Valley from the 9th to 11th March, 1997. The following cards were handed in:

ROBERTION FAREWELL CUP.

Mr. F. W. Warre† .... 86— 9-77 Mr. C. P. Chater.............. 87— 9=78, Lt. H. C. R. Boucher, R.N. 85-80 Mr. H..T. Butterwor b... 90-10-Bo Mr. A. Brooke-Smith.... 90mm 9m82) Major H. & Lowis? 885-83 LLC. C. Walcott, K.NV „; gr— 7mB4 Mr. T. C. Gray...) 939-84 Mr. J. Clark..... 84+ 85 Lt. R. M. Crosse...........101-6-05

(28 entries), MAY CUP.

Mr. G. E. Moriel*...................106--17---81 Mr. F. C. Hall.....................t08-25-83 Ar. T. C. Ver00 .:108—20-83

*(9 entries), FOOL.

Mr. F. W. Warre‡ ................ 86-11-75 Mr. C. P. Chater, 87-11-76 Lt, H.C. R. Boucher, 2.R. 85— 7=78 Mr. T. y... 90-11-799 Mr. J... 80-379 Major Frida Lowis.................. 88— y=fa Lt. C. C. Walcott, x,#. .,, 91–/gmda Lt. R. M. Cross0101 893:1

Auta5'entries)ALiv) SEE MOR Wiquer of Robertson Farewell Cup, Winner of May Cup, a dozen are 4 Winner of Fool SENZ

71,343.00

5691,357-41

HONGKONG VOLUNTEER RESERVE

·ASSOCIATION.

GOVERNOR'S AND CHATER'S CUPS..

The first competbion for the cups present. ed by His Excellency the Governor and Sir Paul Chater took place at the King's Park Range on Saturday and Sunday last when there were 43 entries. The following are the highest scores:-

A. Blowey.....miega

J. C. Cow....**

A. W. J. Watt dusun

W. J. J. Gast....**

S. E. Green enna

J. H. Pidgeon some

A. Jenkinsegnare che

56+ 1470 56 scr.=66 61+ 4-66 50+14-64 63 cr. -63 63 scr. 63 62 ter.-61 6-61 53+8=61 47 +12=59 5146-57

P. P. J. Wodel:09155+ A. S. Tuxford

D. Willin

H, W. Bird.....

D. Gowtamaan

'47 +10m 57

E. W. Terrey.................... 42+14=5Ú W. T. Edwardı... .................... 40+16-58°. L. G. Bird.............onion 494 4-59 W. J. Saunderi'................ 47+ 6=53 The pool compeition was won by A. Blowey with a score of 56+14–70.

CHINA MAIL'CUP, -

J. H. Pidgeon 736836 A. W. I. Wall

4 77 826 P. P. J. Wodehouse 6 so 406-26

TRADE MARKS IN CHINA.

Estate Is situated on the NE. corner of Rue du Corsulat, and Rue, des Pères and com. prises the whole of Cadastral Lots Nos. 169 and(171.

"

Estate is situated on corner of Quai de la Breche and Rue-Hué, and comprises Cada- strul Lot No. 134.

Estate G.-is situated on Rue Sitiang, Rus Hengchan, Rus Hankiang, and Rue Lang Chan, and comprises Cadastral Lois Nos, 690

1, 2, 3, 4, 5:

1.

THE LATE MIXED COURT INCIDENT.

In reply to a telegram. from H, E. Tang Shao-y to regard to the dispute between Great Britain and China concerning the Shanghai riets of December 1905, Viceroy Tuan Fang states that he has instructed the Customs Taotai of Shanghai to proceed to Nanking to consult in person, prior to the opening of negotiations with the British representative at Shanghai in March or April

B.E. Tuan is of opinion that, if Sir J. Jordan' insists onthe payment of a monetary indemnity, then proper investigations should also he made into the number of Chinese subjects who suffered, so that equal treatment may be ac corded to the relatives of the unfortunate sufferers. The Viceroy also takes a different view about the punishment of the former Cus- toms Toolai (HE..Yuan Chu-hsun, now Gover nor designate of Peking) of Shanghai and other Chinese officials because they were entirely powerless to deal with the rioters in the foreigs settlement. Regarding the punish- ment as demanded by the British Minister of those ringleaders and others who took part in the disturbances H.E. Tuan adds that, for, the sake of preserving peace in Shanghai, the Customs aotai bas been instructed to mete but adequate penalties to all persons who were more or less implicated according to existing Chinese law, as a warning to other evildoers.

It is stated in Chinese official circles here that the Chinese Ministry of Foreign Affairs is going to despatch Thouai Chu Pao-kuci lately of the hanghai-Woosung Railway and interpreter to H.E. Sheng Kung pao) Junior Chief Secretary of this Ministry, to assist to negotiate with the British Representative about the final settlement of this matter,,

It is said that the question of compensation to the subjects of other Powers will be discuss- ed and stilled separately between China and the countries concerned after the termination of the negotiations with the British Govern ment.-N. C. D. News.

A SEEDLESS MANGO,

BOSTON S. S. CO.

.TO WITHDRAW FROM ORIENTAL SERVICE."

MRKEFIRMAYERS

COMMISSIONER OF CANTON CUSTOME DEPARTURE ON TURLOUGH. [From Our Own Correspondent. Dogs per Canton, oth March,

Canton Customs, who has occupied the post Mr. F.J. Mayers, Acting Commissioner ofthe since 1954, yesterday, under instructions from... the Inspector General of Customs at Pekinge banded over charge to Mr. T. D. Montbend, Acting Deputy Commissioner, who will tem porarily assume charge of the office pending the arrival of Mr F. H. King who has been ap pointed Commissioner for Canton, Mr.Mayer during the term of office at Canton, was most popular with both the foreign and Chinase- commanity, who regret his departure from this port. He is going on two years" furlough and will leave for Hongkong this evening: per na.. Kishan, It is reported that the Chipese staff of the Cantos: Customs han arranged to give an demonstration on the occasion of als departare:

DEPARTURE. FROM CANTON,

Later,

LI

A JUBLIC DEMONSTRATION. This afternoon, Mr. F. J. Mayers, Acting, Commissioner of the Canton (ustoms, was accordes one of the heartiest send-offs aver given to a Customs official This gentleman, who has been in Canton since 1904, is granted two years lease by the lospector Genaral, and, his departure from here for the home country is deeply regretted by both the foreign and most Chinese community, with whom he was popular. He left by the ss. Kishan for Hongkong, and long before the scheduled time for departure from the whart, both the foreign and Chinese indoor and outdoor staffs of the Customs went on board to with their, Com missionar bon voyage. An armed guard was furnished by the authorities and lined the wharf under the command of Captain' Lum, whlist the Chinese staff was busily engaged in Many leading members of the Canton for arranging a farewell firing of crackers, eign community, including Mr. L. Bergho't; and the Consul for Germany in Canton, wore Consul Generalfor the United States in Cantons present to bid farewell to Mr. Mayers. When steamer, the crackers began to be let off; they close to the time for the depinure of the fasilade lasted for fully half na hour, mean wharf and when the tracker firing bad censed, a while all the Customs' staff assembled on the three ringing cheers were given for the Com missioner, and the staff sang in chorus For he's a jolly good fellow. The steamer, then moved from the wharf amid cheers and hand- kerchief waving, whilst the honoured gentle. man stood upon the deck, returning the com pliment....

THE JAPANESE IMPURIAL". MISSIONE

· BARON YAMAMOTO IN HONGKONG. Admiral Baron Yamaniolo, ex-Minister for“ A Seattle contemporary under date 18th Feb. reports:-Because, it is stated, of lack of the Navy, and suite, who are to accompany proper subsidy encouragement, the Buston Prince Fushimi on the Imperial Mission to Steamship Company's vessels Lyra, Hyades London, embarked at Yokohama on Saturday and Pitfader will be withdrawn permanently week on board the N.D.L. mail steamer from the Oriental ren. The steamships Tre-Princess Alice. The Prinzess Alice arrived tons and Shawmut will continue to visit in port last Wednesday afternoon. They will Oriental ports for the present. By the first of join the Prince and his suite at Paris. June the other three steamships named will be diverted to another run, probably between Seattle and Nome,

་

Frank Waterhouse, vice-president of the Bos ton Steamship Company, last night announced that the vessels would, be taken from the Oriental run, confirming Boston dispatches to the same effect. "Wa had not intended to. take the vessels off," said Mr. Waterhouse, until changes were made in the ship subsidy bill which, we think, will be detrimental to We are unable to compete with business. Japanese lines, which have every encourage ment from their government and are paid a subsidy for every mile they travel."

From Who's Who in Japan' we gather the following particulars relating to the career of Admiral Baron Yamamoto -

Yamamoto, Gombei, Member of Supreme Military Council, Admiral, Baron, (cr, oz),, b, Oct, 'ga in Satsuma; is one of the pioneer graduates of the Naval Academy, which he left 77: promoted to Lieut. '8 Captain '86 and commanded the Takao, Takachiho, and some other is service afloat ended and he was Soon transferred to the Naval Office first as Personal Secretary of the Minister; promoted as Director of a Bureau; Vice-Minis- ter 'gs when he was promoted to Keardmra), and Minister from '98 to Jan. 'os, having been The steamship Lyra is at present discharg-appointed full dmiral '04. The Admiral is ing a cargo of coal to the steamship Suvaric reputed to be'a man of great vigour of mind and,

in short, a stateman of like capacity, b at the old Arlington dock. The Pleiades is now at Moran's undergoing repairs. Both being an able speaker. vessels will make at least one more voyage to the Orient before leaving the run, the steam- ship Hyades was reported as arriving at Victorin from the Orient last night.

THE CHIT SYSTEM.

PROPOSED ABOLITION IN SHANGHAI.

When we penned a little while ago a lead-. erette on the subject of being in debt we did not think, writes the Mercury, that two of our principal hotels would at this early date combine io do away with the chit system. But to it is. Very little imaginative power is mended to conjure up the circumstances of its first beginning. A small community with nothing but cash" as a means of ex- change, the men all known to each other and to the natives, prosperity such that money. was of but little worth: such were the main sponsors of the chit system. Ils manifest con- venience was certain to continue if once started, and so ithas lasted to thepresent hour when the small community bas grown to half a million, when there is an ample supply of subsidiary coins, when it is impossible for any one to know all the rest, and when prosperity can at least be reckoned within reasonable figures and, by

At present but two hotels have started on the new crusade. But it is quite certain, that others will follow in time. Some of the nativa stores have already done so. An old resident was greatly surprised the other day to find that meltber bis same nor his chit were thought of sufficient weight to allow him to take away an article which he had intended to buy. Such stores may not have quite so large a turn-over as their credit giving competitors, but it is cer- taip that in the long run they will be able to und sell them for the very simple reason that in their establishment bad debts are unknown

What the effect will be on individuals it is too early as yet to say. The system has hardly been scotched as yet. It certainly is a long

|

besides

We learn from the Japan Chronicle that upon the conclusion of his mission të the British Court, Prince Fushimi will; tragal extensively on the Contineat: Admiral Yama- molo and suite will leave the Prince in London, departing for Japan in June. By about that time the Japanese squadron, consisting of the Tsukuba and Chitose, which is about to ba sent to America, will be in English 'walers, but it is not yet certain that Admiral Yamamoto' will return to Japan with the squadron,

DOCKYARDS IN JAPAN,

ESTABLISHMENT OF STEEL WORKS. The extension of the premisan of the Ka wasaki Dockyard, Kobe, is progressing space; The construction of a branch stest works on the liyogo Canal, where over 3,000 tsubo of” ground have been purchased, having been nearly completed, operations will become menced towards the end of the present month, Mr. Jackson, an English engineer, has been engaged to superintend the branch and is pushing on the work pr. pamiery, to opening business. The steel used in the constructiona of the battleship Battuma, recently launched at Yokosuka, was supplied in part by the w Kawasaki Dockyard.

have proved disadvantageous to the Japanese ship:builder and other manufacturers using im ported steels; and the Kawasaki Dockyard cont sequently decided to extend its steel works and manufacture steel plate for shipbuilding and other descriptions of steel for its own use, and ? also to supply steel to the public. The general meeting of the Dockyard Company in Decem ber last adopted a resolution 10 manufacture cannon and other arms, and the necessary prev parations are being pushed forward Torpedo discharging tubes are already made at that yard, and have already been fitted to torpedo boats built for China and Sieme. The yard it d now occupied with a large order for certain works from the Kure, Port Admiralty, Meni Tsuruda, Naval Arcoal Inspector has been engaged by the Yand since January last 10 superintend the manufacture of arms at the yard. Mr. Tsuruda han completed his study

The Imperial Iron Foundry at Wakamatsur Day by day new possibilities of our Philip.some, within no figures at all. When that hapis full up with orders from the Goverment,

and cannot accept arders from privato indivison pine resources are brought to light. The Intpens and chits are still in vogue bad debta ac- est is the possible evolution of a seedless cummulate, and as Goldsmith would say, "menduals, or works. The increased import tariff, mango. For the information of possible scof-decay." Such decay is noticeable in the large and the advance in the market abroad of steel; amounts visible in all balance sheets except fers it should perhaps be stated that the seed- less orange was once considered impracticable. those of the ready money order, debts uncol.

The store of the mango is a confounded lected. The competition for the cup presented by nuisance. Not only does it take up space the proprietors of the China Afail for shooting which might be devoted to the luscious mango at disappearing targats has resulted in a tie pulp, but it makes the eating of that fruit a between J. H. Pidgeon, A, W. J. Wait and. P. difficult maiter to properly negotiate, Because P. J. Wodehouse, each having registered 26 of it we must either eat the fruit ja puris hits in 4 shouts of a rounds each. The win-naturalibus in our bath, or if we eat it at the ner will be decided by the thren shooting off breakfast table it is about as difficult to carve as a chicken. The promised elimination of shot for shoL

The following and the scores

the store from the mango will therefore be more welcome than that of the seed from the Grange, or the corn from the apple,

The tendency to a seedless state is of course, greater in certain classes of plants than in others, according to their powers of spen. taneous reproduction by vegetative means, as suckers, ranners, bulbils, etc. High cultivation- is an important factor in the matter and with away from being killed. But we hope to see it Philippine wizard who can follow in the foot gradually make its way until it will be in Europe, where he spent over ten years, and steps of our American Burbank, more wonder impossible for young men (and maldens is now & recognised expert in his professions

The Mitsa Bjahl Yard at:Nagasaki Taconily? fal things even than this may be accomplished: 100) to be lured on into the quagmire

Drinks, purchased the patent rights in the Far East We bave familiar examples of the value of of debt before they know it. seedless fraits in the banane, breadfruit, and cigars, ponies, carriages, Guery and all the and Japan of the (English) Parson's turbina pineapple in each of which cases the plants many luxuries of Shanghai life will be appre-engines. The Kawasaki Company: Fant: Drie hava, inken to reproducing themselves by ciated at their true worth when their equival. Saka, an engineer, and, MrMatsukari Gorpies suckers, To there, icedless oranges, and eli ont in hard coin has to be laid down before to America, last years to purchase the parapte more recently seedless limes, have been added, they can be enjoyed, and the effect will be rights of the (American) Curtis turbine enginess while cases of seedless mangosteens are not twofold; a compulsory consideration of the These gentlemen, succeeded in acquiring, they patent rights for the company; and, Mr. Materiai, unknown locally,

kata, is expected to return to Japanyabortly mango fruits, especially if accompanied by no. It would be a good move if all the foreign Dr Saka is now in England purchasing ar

This promised production of perfect seedless tuation, and a consequent effect on the loss off your as Mr. Garcia claims, will bo storekeepers were to call a meeting and at that chinery and plant for the manufacioi especially welcomed by all those who regard meeting decide to establish a cash system, the motors and engines, a this king of tropical fraits" as otherwise fauli-We are censin it would work, not only for the mess which is to be started jest. As it is, the Philippines are said to pro- good of the storekeepere, but for the good of the company doce the best mangees which are to be found their customers and everyone carcerned, operatives G anywhere in the tropics, so that if the pro- | Shroffs would no longer be a necessity, and mised discovery come out all night we shall be people who now overma the consteblo 1 able to break our own record indianila Timer, would live within their means.

On the reques of the Lungkungshangpa (Ministry of Agriculture, Works and Com merce) the Walwopu has sent a copy of the redrafted regulations concerning the establish- ment of Trade Masks Offices. in China to the various foreign ministers for their inform ation and perual and at the same time their Excellencies are assured that the Chinese Government will not issue them until they have been examined and recognized by the Powers so as to avoid further from the Diplomatic Corps, most of the foreign misunderstandings. According to the replies ministers, including Sir John Jordan, do not take a favourable friew of the proposed re- gulations, which as, said to lack clearness Prince Ching has now seat back the regala- flons to the bafore mentioned.lularry for reconsideration,.,,. It is probable, slazdoveral months (mest almis before this important 4/4 question is gettled, thecor 760 Saveien

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character,

dispatched