258
HONGKONG AND SHANGHAI BANKING CORPORATION.
HALF-YEARLY REPORT,
The eighty-fourth report of the Court of Direc tors to the ordinary half-yearly general meeting of shareholders to be held at the City Hall, on Saturday, the 17th August, at noon, is es follow#
To the proprietors of the Hongkong. Shanghai Banking Corporation,
and
Gentlemen, The directors have now to sub- mit to you a general statement of the affairs of the Bank, and balance sheet for the half-year ending jath June, 1907.
The net profits for that period, including $1,721,558.00, balance brought forward from
THE HONGKONG TELEGRAPH FRIDAY AUGUST 1907.
ducting Call pepses and in. terest paid and dua
2,123,663.33
- $3,845,222.43)
STARLING RESERVE TUND. To Balance £1,000,000
ex. 3. $10,000,000.00 $10,000,000.00
By Balance 30th December, 1956
£1,000,000 @ ex. 2/ ... $10,000,000.00 (invested in sterling securities
last account, after paying all charges, deduct To Balance ing interest paid and due, and making pro vision for bad and doubtful accounts, amount to $3,845,232-43-
The directors recommend the transfer of 5750,000 from the profit, and loss account to credit of the silver reserve fund, which fund will then stand at $11,750,000.
After making this transfer and deducting remuneration to directors thers remains for appropriation $3,080,22243, out of which the directors recommend the payment of a dividend ol one pound and fifteen shillings sterling par
at 4/6 will absorb 3622,322.23. share, which
he difference in exchange between 4/6, the Ate at which the dividend is declared, and 2/23-16, the rate of the, day, amounts to $660,852.67.
The balance 51,797,167.54 to be carried to now profit and lose account,
DIRECTORS:
Mr. N. A. Siebs, Mr. D. M. Nissim, the Honourable Mr. W. J. Gramon (deputy chair.. man), and Mr. G. Balloch having resigned their seats on leaving the Colony, Mr. A., Fuchs, Mr. E. Shellim, the Honourable Mr. Heary Keswick and Mr. H. `A. W, Slade have besu invited to fill the vacancies; these appoint ments require confirmation at this meeting.
The Honourable Mr. Henry Keswick has been elected deputy chairman for the re mainder of the year.
AUDITORS.
The accounts have been audited by Mr. A. G. Wood and Mr. F. Maitland; the latter acting. for Mr. W Button Potts, who is absent from the Colony.
G. H. MEDHURST, Chairman. Hongkong, 6th August, 1907.
ABSTRACT OF assets and LIABILITIES. 30th June, 1907. Liabilities
Paid-up Capital, ma $10,000,000,00 Sterling Reserve Fund, £1,000,-
10,000,000.00
..000 @ ex: 21
Silver Reserve Fund,
Marine Insurance Account,
Notes in Circulation --
Authorised issue
́against securi-
tles deposited
with the Crown
agents for the
Cologies,.....$10,000,000.00
Additional issue
authorised by Hongkong Or dinance No. 19
of 1900, against coins lodged with the Hong- kong Govt.
8,113.504.60
Silver, ......$72,591,082,50,
Current accounts,
Gold, £5,840,784.
122. 5........
54,496,600.45
Fixed deposits,
Silver,...........$42,865,485.38
18,113,504.00
SILVER RESERVE FUND,
$11,750,000.00
$11,750,000.00
By Balance 311 December, 1906 $11,000,000.00
Transfer from Profit and LossS
Account
+1
J. R. M. SMITH,
Chief Manager,
C. W. MAY,
THE SHANGHAI DOCK &, EN-
GİNEERING CO., LD..
ANNUAL MEETING,
ve
Past
GERMANY AND RIAOGHAU.
· SUPREMACY OF THE CHINA COAST.
COMMERCIAL CERINE *** which, although at the present time far from perfect, it is hoped 'one day may rival Hongkong or usarp the supremacy of the China coast from Shanghai. To this and in Teing. lap, a town of five proportions has beas laid hotels, good dralaige and first class water are out. Broad stresia, due shops, comfortable all prepared against the day when the port will
norb
... Query No, 2-On the debit sida of Proft and Loss account 1. observe Tis 27,400.00 for "Less on sale of buildings, etc. Is there any reason why we should not know what part of our property has been sold, and how this loss has been incurred? There is nothing on the
It is in a high degree improbable that $3,845,232.43 The first annual general meeting of above us bedt effected, and we have always been retrocession to Chins of her protectorate of credit side of the account to show that any sale Germany is contemplating, as reported, the Company was held at Shanghai on 30th ult
this territory There were present, Mosure Prentice assured by the Directors that our property was Kiao-Chau. As it stands to-day
worth more than the valuation stated in the presents to the Fatherland a vast expenditure
become the ladustrial centre of the (Chairman) A. M. Maishall, Johnston, D. Landale (Directors). ). H. Teesdale (Legal account, but of course it would be subject to both of an official and unofficial character Essentially Testonic in character, there is Adviser), J. H. Osborne (Secretary), Grant market factuations At this rate, what will Under the former bending are doma
nothing
sing wanting from the scheme. Neverthe Mackenzie. (Manager)!
r), Crighton, AK
probably be the lost on the remainder of our or seven millions sterling which has been Craddock, N., E. Co. F. C. FrischRP-T {..
Chun Neaching,160,10
which property now stands to the books at disbursed in-connection with the importas, for reasons which it is unnecessary to dis Copt. T. Bassen, L
aut paval programme which, be Imperial cus here, as a commercial success, Taing-tao M. Hoater, W. S. Jackson, I. R. Michael, H.
and Tools augment in value year Administration is carrying out, while under the has held fire, and very little return has ban A. J. Macray,
W. N. McDonnell, G. Nielsen, by year, like precious stones, A trifle of unofficial head may be grouped a variety of made for the many millions which have bean
lavished upon sown way of first. H. Roberson, H. H. Read, J. D. Strang, M. Tis, 130,000 has been charged to this account industrial schemes, each in Spielman, F... Taylor and Foury value to Tis. 1.234.5 38.19. It would be la development of which the Kino Coquisition by
during the
bringing the total book class importance. Capitalised, the industrial place is wholly dependent upon the year,
tory which grows annually larger and Wortmann,
W. F. Wingrove, and J. M. Yours terasting to know if the actual market value of 'has been the centra since its 'acquisition by year is a little in excess of half a million? (shareholders) representing 26,979 shares.
The
read the patice convening the this lot is more or loss than Tis, 100,000 Secretary
would return very possibly an ex sterling. Yet the fact that the Imperia Government has created with a special BO of another five or six millions, Chairman.-Geatlemen,The report tiou, as per usual and the year's working shows
Kiao Chau and converted to a Daval base have to find at least twelve millions sterling the former areas of the barbour, may be re-
Bau Bay: and accounts having been in your bands for a nel prost of Tis. 176,039.95, equal to about
before Germany would think of withdrawlog some days, with your approval, we will take 37 on the paid up capital. What next? **
garded as confirming the permanent character from Northern China them as read. We regret that the year's work-
However desirable it may be for the German of the German occupation. Moreover, since $11,750,000.00ing shows such a poor result. This has arisen from several causes, the principal one being
Imperial Government to cultivate cordial to the practical significance of the German poal...
in the Far East depends upon the work the dulness of the shipping, therefore the dock
with the Chloess. Government it is certain that it will not be made at the price of being pushed to a successful conclusion, and repairing work fall off considerably.
had oo
the Klao-Chau territory, such is the opinion there, is still less ground to believe the report which, if true indeed, would, play into the To the Summary Jurisdiction Court on the extensive repairs on ships in dock As in
Gazette. Indeed, place, In businesses such as ours the amount of work, Puiane judge, presiding in Summary Jurisdicada a todo di the pyar Raster erament the faherent weakness of Germany's and, therefore, of the profit, vary, and bad years tion, the Hilp Tak Lung firm, of No, Jervois BUIS,
it may be must be met as well as good ones (unior Street, sned Fung Chun Yuen, of No.'s Gra- | Policy ; and, although its surronder would not parition. At the same time, 100,
added that the terma of the treaty by which mean a less active policy its possession i Kiao-Chau was coded to Germany, the latter tunately we have had more bad than good durham Street, merchant, for the balance of ac-
in posi log the last few years), but we hope that these count for goods sold and delivered by the plain such an important factor in tres Gration out Power has the right to select another site: in bad years may be followed by beiter ones and tiff to
out exchange, but at the moment there is none of the question. While the bay of Kino-Chau which is so convenient, nor any upon which It defendant. by increased prosperity to the company. We
has afforded convenient facilities for the crea have
to effect a consider. made arrangements
lion of a naval station, the Chinese province of would be really worth while now to repeat the We have not succeeded in disposing
ities for attacking Old Deck property and the property between the International and Cosmopolitan Docks as the resolution passed by you on November 1st last and confirmed on the 27th of the same month. We still bave in view the disposal of these properties to the best advantage of the Company, and should we at any time receive what we consider favourable offers, we will
No allowance has been made for deprecia. at upon a monetary basis alone China would object in view a model to PP the shores of
750,000.00
Chief Accousiant.
G. H. MeĎKUAST,"
H. KESWICK,
Directors,
C. R. LENZMANN,
SANITARY BOARD,
FORTNIGHTLY MEETING.
The bimonthly meeting of the Sanitary Board was held in the Board room on the 6th inst, when the following business was transacted:➡
STANDING ORDERS,
mitted as follows:-
A letter from the Colonial Secretary was sub
Colonial Secretary's Office, 29th July, 1997.
ing
DISPUTED ACCOUNTS,
COURT PUT IN MOTION,
and alta that during tha year we have all 6th inst., before his Honour Mr. A. G. Wise, expresised by Mr. Azgus Hamilton le Pall | Hands of Japan, and prove to the Chinesa Gov.
GA tha
Mr. P. W. Goldring, of Messrs. Goldring and Barlow, appeared for the plaintiff, Mr. D. Deacon, representing the defendant.
by
able saving. in the working of the company. V. Steavenson, of Messrs. Deacon, Looker and Shantung bas provided Germany with opportun-expenditure that Germany has made-in respect
per
of
the
Plaintiff produced his books of
of account, and was closely examined and cross-examined re- garding the entries. Witness denied that he made any reduction on the bill and the balance of $107.41 was stili dun. The entries appear ing co the bille ainting that redactions were made on the two bills were not written by him dor any of his fokis, nor by anyone with his
41:;, *
of Kiao-Chau
Sir,-Referring to your letter No. 168 of, the ring them before you. During the year, as | authority", zang said that in one of the books shorter, line the coalfields in the region ordered from Yokosuka will be of 20,800 ||
rith inst, I am directed to suggest that the proposed Standing Orders of the Board should ba amarded as follows:-
17. Substitute the word "beneficially" for the word "pecuniarily," and delete the words "and shall withdraw" to.the end.
18. Delete the words "the member concern. ed shall withdraw," and the word "then" am, etc1
(Sd.), F. H. MAY,
Colonial Secretary.
The Secretary, Sanitary Board. Mr. Shelton Hooper minuted: I still maintain that it is outside the province of the Board to make even such a standing order as is now suggested, by the Hon, the Colonial Secretary.
have seen, by the report, there have been many changes in the directorate. There are sti 1 two vacancies on the board, caused by the retirement of Messrs. van Rücker and Ground- water, and we will propose later on that Mr. McBain (both of Macray and Mr. Freeman-1 whom are connected with firms who are contri. butors of business)-be elected. Now as re gards the management of business :—for some years many of the shareholders have been
and in other parts, under the writing. the writing was, in some parts, over the chop,
His Hanour: Oh, that is a very common thing. I have raised the poist so often with out doing any good that I have given it up.
Mr. Goldring: Is it so, my Lord? { did not know. It appeared to me rather suspicious. His Honour it may be, but I can't get at the bottom of it. I may say at once that I don't believe a word the plaintiff's foki said. He denied putting chop on the bills, so how did it Bereid
THE COMMERCIAL SUPREMACY,
THE JAPANESE NAVY. so long held by Great Britain in Mid-China. Taking the latter first, it is well to bear in mind INCREASING THE BURDEN OF ARMAMENTS, that between Kizo-Chau and Tsing-tep an important line of railway has been built,
The Japanese Navy will be increased by two large and powerful battleships within a few. extending some three hundred miles at pre sant and passing through the provincial years. Ons bas been ordered to be built at capital Tsinan-fu, while by a second, but Yokosuka and the other at Kura. The abip of Foshan and Wei-shien have been placed tons, 20,000 horse power, with a speed of 20 in direct communication with the sea at Tsing.kpots, her armament consisting of 10 12-inch, 110% The
coal
torpedo-tubes and four above twenty thousand tons; and, as this develop four submerged forpedond 24 27 rum, quus, water, The cost is estimated' at a little över mant has taken place solely with the assistance
¥10,000,000. This vessel will surpass in power eep repeated in a of · German capital, and has
the British Dreadnought, which is now regarüod number of similar instances throughout Shan fung, it is evident that the commercial stake as the strongest war-bip afloat. The Japanese guns against which Berlin capitalists hold in the region is battleship will have ton 12-inch but a little less important than that which be six on the Dreadnought, and will be a speedier The new battleship will be started longs to the Imperial Administration itself. It vansel is evident, therefore, that industrially Germany on early next year upon the completion of a heavy crane, which is now being constructed cannot afford to sacrifice her many interests in Shantung, and if manufacturing interests alone on the slip on which the Satrame was built. were insufficient, there are the importsat ques
DEATH OF FATHER VICIAL, of Germany's Chinese railway policy, as sug-
The Singapore Free Press of agth`ult says:1 The evidence being closed Mr. Goldring sub-gested by the operations of the Shantung Rail- mitted that the goods had been sold and de- way. By the time when the Pekin-Hankowit is with feelings of regret that we announce and the claim that there was a reduction on fact, the Shantung Railway will have establish- 17th inst., of the Revd Father Victal, late vicar ed an Important branch of communication of the Portuguese Church of St Joseph and the bills amounting to $107.41 was pre-
then he, however, not only through the posses. Singapore. The body was to be removed, the with the grand trunk road of China. It will director of the St. Anthony's school for boys at sion of a branch line that Germany will be in following day for burial at Macao, his birth. if the upshot of existing intrigues is crowned conveyed is a letter from Macao to the Vicar terested in the development of Mid-China, for, place. The news of Father Victal's death was with success, there is little doubt that she will General here and was received on Friday. secure the reversion of the Tientsin-Chinklang Tite decease was born in Macao some 35 years
ago, lac.
Mr. Goldring said his point was that it was put on by a mistake. It was the last day of the Chinese New Year, and they were making up accounts at a aim, and the chop was
To deprive a member of a vote is not a matter that I will do my best to farther the interests emily placed on the wrong billa iqadvert- tions which hinge upon the future development
under
up their year end accounts).
Sevenson. There was no doubt that chop His Honour said he need not call upon Mr. was placed on the bills by the foki, and it did not matter whether it was at two o'clock in the had told a clear story regarding, the two pra- morning or any other time. The defendant mised reductions of $50.41 on one bill and St on the other, and he had the evidence of his foki who was present when the plaintiff's bill- collector went to him.ɗnd sald his master agreed to make the two reductions, There would be judgment for defendant with costs.
18E N. Y. K. COMMODORE..
RRTIREMENT-OF-CAPTAIN-HASWELL.- The Japan Chronicle learns that Captain
which is now in Yokohama, has tetigned, and steamer Allo-om the of the N. VIK, Nikko-maru, on the Australian line, is shortly going home. Captain Haswell has
Apart altogether from railway schemes and the various plans for commercial expansion, possession of Tsing-tao plays an important pari in the German Welt-politik." Taing-140 merely the northern extremity of
of the opinion that it would be entirely better for the
company that a manager should, be appointed, who would be entirely under the control of the directors. I, there. fore, resigned my position as manag ing director, but will remain as a director- and 11,000,000
chairman of the company and can assure you 250,000.00 of procedure and on this point the Board asked of the company in every way, We have ap Grant-Mackenzie as manager, for the opinion of the Attorney General as 10 pointed Mr. experience with him, 1 can livered to defendant to the value of $735-41, Canton Railway becomes an accomplished the death at Peak Hospital, Hoagkong, on the its legality. Where is the opinion? if the pros
and from my tong posed Standing Order were passed I think it
assure you a better choice could out bave been would be a very invidious thing for a member made. Auditors-1 he accounts have been beneficially in any motion before the Board, by who retire, but offer themselves for re-elec-usual custom amongst the Chinese in making any motion audited by Messrs. Bingham and Matthews, posterous, and out of all proportion to the the other members, I should have no objection. As regards the statements of ac tion to state how far I was interested in any counts as presented this year and compared question, to His Excellency the Governor, with those published by the old company, who should decide whether that interest was will be seen that several alterations have beneficial or otherwise. If such a Standing been made with a view to farnishing the share. Order is not necessary for the Legislative holders with as many details as possible Council it is not necessary for the Sanitary. Thus land, dacks, buildings, machinery, tools, Board, and 1 think it should be left to the floating plant, furniture, etc., have been shown hanout of each member.
separate headings, instead of as former Mr. Lau Cha Pak minuted: The opinion:
when under each dock, land, dock build. ly, asked for has not been given.
one or two ings, etc., they were shown in CUBICLES.
amounts. The only two items in the accounts to which I will refer are: 1st, The increase of Tis. 130,000 in the value of machinery and This represents plant at all establishments. formerly included underproperty accounts at the the value of the pumping machinery and plant -various docks-and-Reserve Fund-The-re- serve fund of Tis. 1,000,000 is employed in the business of the company and is well covered by boilers, local investment, mortgage, machinery, the value of steamers, lighters, engines and stock of materials and is a good asset. In last night's Mercury there was a reference to Tis. 3.977.98, carried forward to new account last year. This was used to meet a claim unknown at the time the Recounts were made out by the advice of the auditors, Before moving the adoption of the report and accounts 1 shall be pleased to answer any questions referring to them or the business of the company.
There being no questions the following re- solutions were carried without comment
•Proposed by the Chairman, seconded by Mr. A. M. Marshall that the report and accounts made up to April 30 last as of the
company printed and circulated, be adopted and ap- proved, and the directors be authorized to pay a dividend at the rate of Tis. 3 per share to the shareholders on the register al date.
A reply was received from Government, -177,087,688.95 | through the Hop, the Colonial Secretary, stating that he was desired to state that the.
by the Government.
"Gold, L4,99 1,020
101-10--46,570,043.01–
Bill Payable (including drafts on London. Bankers, call loans and short sight drawings on' London office against bills receivable and bullion ship- ments), .... Profit and lose account, ...............CURTIPS Lalithy on Bits of Exchange ro damisted £7,303, 486 101, 1imf, ez! which 45.333.798 9. so, live since run off.
Cath,
Astels.
95,444,528.39
15,521,609.52 3,845,322.43
$189,262,553.29
L
...$43,801,849.04
recommendations of the Board were approved
PLAGUE:
The return of deaths from plague at Macao, so far, showed a total of 1,040, the highest since 1895 when it was 1,163. On this Mr. Humphreys minuted if these figures prove anything at all, they prove that there is something in the Chinese contention that plague is due to atmospheric conditions primarily, and that ditt merely assists its growth.
'PUBLIC WATER.
The Government Analyst submitted his re port on the analysis of the public water sup. plies for the month of July 1907, which showed the water in all districts to be, as usual, of excellest quality.
JIMEWASHING.
"Coin lodged with the Hongkong Government against note cip
During the fortnight ending 26th July, 1957, allation in excess of $10,000,000, 10,000,000 00 | 316 houses were cleansed and whitewashed Bullion in hand and in transit,... 3,041,780.15 under the supervision of the sanitary officials, Indian Government rupec paper, 1,914,69417 Connols, colonial and other se
curities......ag Sterling reserve fund investments,
·viz-
£598,007 21% Consols
at 82...
..........£490,360
(of which £150,000 lodged
with the Bank of England Special London Ko
L255,000 at %% National
war ioan, at 90....................... 329,590 £325,000 other sterling securities, written down to........
6,557,372.74 DEATH OF ME. THOMAS EVANS
CHIEF OFFICER 6.5. "SUISANG."
.s.
A sad accident, resulting in the death of Mr. Thomas Evans, chief officer of the Suliang, occurred on board that steamer while she was at Salina Cruz; Mexico, last month, The Indo-China Co.'s steamer was then under charter to the Chion Commercial 5. S. Co., carrying emigrants to Mexico, The Suisang returned to Hongkong on Saturday and brought the tad news of the chief officer's demise: It appeared that, after landing some hundreds of conlies at the Mexican port, the Sultang was taking in coal and while superintending the work on deck, Mr. Evans 89.800,247,80 quite accidentally missed his footing and fell 123,631,613.38 down the batchway into the hold. ne sustain
1,485,060.01 ed injuries which resulted in instantaneous denth. A coroner's inquest was held on board
280,140
£1,000,000 (@*r. 1/- 10,900,000.00 Bills discounted, loans and cre-
dits......
Bills receivable,
Bank premises,...
skilled
been in the service of the company for many years, from the time of the Mitsu Bishi Mail singaished himself. by his ability as a Steamship Company. Not only has he div: Bavigator, but has also earned the good opinion of all with whom he came in contact, both sea and ashore. Caplain Haswell has almost in- variably taken command of the company's new ships, and he was the commodore of the N. Y. K. fleet.
J
AUGUST HOLIDAYS,
· EXCURSION TO MACAO,
the eldest son of the later Mr., Victal, at the time employs of the defunct. Eastern Products Co., Limited. His second brother, also a priest, died whilst on a visit to Portu isgal, and his youngest brother, who was in Singapore for a short time, is now an employa of the Telegraph Co. at Macao., Father. Vicial was ordained priest when quits young at Timor, Dilly, by the late Mgt. Medeiros to whom he was private secretary. After some time he was sant to Singapore to assist the late Father Baptists, the Vicar General, and to reorganisa He pent The St. Anthony's Boys' School. #ome tea
in Singapore as assistant eat and taben False vaarer was promot cd to Macao he was advanced to be
A SPHERE OF INFLUENCE not yet quite defined, but which will be found to extend as far south as Swatow, ad- jacent to which it is possible that another naval base may be established: With Swatow in the south and Taing tas in the north, the rapidity with which Germany is building up ao important position in Lankow makes the
such a programme, is by no means incredible. place the probable western limit of the sphero, Such a policy, even the successful execution of tis only impossible to those who would be. lieve Germany capable of restoring Kiao Chau, when to do so would be to deprive herself of the essential and dominating point of vantage which, in the future, she may jump off for freal Hankow to-day is scheme of aggression.
if
YOREN
but his active interest in educational work in his mission never failed. In appreciation of his services in Singapore, last year, Mgr.. Azevedo e Castro, the present Bishop of Macao transferred him to Macao on promotion and his - parishioners before his depasture presented him with a valedictory address and a costly chalice; the latter he gave to the future Church of St. Joseph: Father Victal left Singapore Jast November. His widowed mother and his brother and two sisters at. Macao will have the heartiest sympathy of his Singapore friends in, their bereavement. At 7 am, next Saturday, grd, there will be a requiem high mass in the Church of St. Joseph for deceased.
THE BRITISH CHINA SQUADRON.
as much a German sphere as it is Russian, and German interests compete vary successful ly with the British. Similarly Swatow reveals the marked German supremacy in a treaty port did which once, and not so very long ago 100, not readily recognise the German flag. Again, moves from Swatow, and beyond Haskow fone to the Yangtze Valley, the effort which Ger. many is putting forward to make her influence predominant in a region hitherto relegated to The Hongkong, Canton and Macao Steam. Great Britain, is no less apparent, and no less Hink with the position upon which the im- boat Co.'s s.s. Swi-tei which left Hongkong on
perial Government already has spent so many Saturday last for Macao took over from three to four hundred excursionists. The s.. Honam gillions sterling. It is thus, and from what pality gave a reception to Captain Tuke and over quarter one reviews the German position 15 other officers of the British cruiser Man Sunday also carried a large number of
in China it is the same, that the intimate de-mouth, which had arrived on the previous day, Hongkongites, who went to attend the open-a
pendence upon Tsing-1a0 of the German policy reports the Japan Chronic of 17th, alt The Fête in aid of the Macao orphanage. file commenced on Sunday and was continued in Chinn is disclosed. Politically Curry Admiral Kamimura, Commander-in-Chief of on Monday evening. It was held outsideally materially, the future existence of Germany the Yokosuka Port Admiralty, Rear-Admiral The Chairman-That concludes the business Camoens Gardens, The Macao Band played in the Far East, as a world force, has its axes Fuji, Chief of Staff, and General Hichi, Com
in the Klao Chau protectorate.
mander of the Yokosuka fortifications,, were selections during each evening.
It is, nevertheless, only ten years ago, on also lovited. The guests were entertained at a. dianer in pure Japanese style, followed by a November, 1897, that
geisha dance,
Proposed by the Chairman, seconded by Mr. J. Johnston that Mr. H. J. A. Macray and Mr. Rt. S. F. McBain be elected directors of the
company.
Proposed by Mr. W.B. Jackson, seconded by Mr. F. E. Taylor? that Messrs. J. E. Bingham and F. N. Matthews be elected auditars far the current year, a
of the meeting.
orl
While the baruar was in full swing on Sun. day at about 9 p.m. the electric lighting service failed and left the stalla in utter darkness for about half an hour, when lights were restored by means of a couple of Kitson famps.
The Bazaar was well patronized, the Gov- ernor of Macao and his wife and hundreds of Hongkong residents being present. The streets, leading to the gardens were prettily decorated with flags and Japanese lanterns. There was a everything went off smoothly. The bazaar should prove a great success financially,
KOREA.
GERMANY STARTLED THE WORLD.
$289,262,551.29 the following day, the verdict being one of fight that commenced two years ago, and the fine display of fireworks, in the evening, and | Germany had permitted At the same time.
· GENERAL. PROFIT AND LOSS ACCOUNT. -
30th June, 1907.
Dr.
To Amounts written off:-
If
Remuneration to directors...
Dividend account
L.15 per share on 80,000
shares £140,000 at 4/6,
Dividend adjustment a/c
Difference in exchange be.
tween 4/6, the rate at which
the dividend in declared, and 2/2 3/16, the rate of the day ......... Transfer to silverreserve fund Balance forward to next half.
year
By Balance of un
divided profits,
3rat December,
1906 $1,721,558.90
Amount of net profits for the six monthr ending 30th June, 1907, inter making pro vision for bad and doubtful dabis, de-
$ 15,000,00
632,221,23
death by misadventure. The remains of the lale Mr. Evans were buried at Salina Cruz.
DESERIBUS FROM THE " MONMOUTH."
ATTRACTIONS OF THE PACIFIC COAST.
The Daily Colonist, Victoria, B.C., on the asth June, said -
The city police were busy last night took ing for deserters from .M.S. Monmouth which is due to sail from Esquimalt this morn«. 660,832.6 ing with Prince Fushimi aboard for Yokohama. 750,000,00
1,797,167.54
$3,845,327.43
Mr. F. E. Taylor-Gentlemen-Before wa separate this evening, I wish to propose a volO nl thanks to Mr. Marshall, Few shareholders know of the hard work, some of it very dis greeable work, that he has done in our interests; but while circumstances have till now prevented the results of his work from making themselves manifest, we shall ses the beginning of a new era from to-morrow. His pluck and determination have won the
Dock Company is now on a sound and satis, factory footing for the first time since the amalgamation, and I feel sure that as long as we have him on the board, and if the share- holden will loyally support him, our. interests will be carefully guarded. We have, had a most unfortunate experience, and have been through a period of great disappointment and even serious danger, "bai-Mr-Marshall ́bas pulled us through, and I feel confident that we shall now regain our reputation and our busi- sess. I hope, therefore, that you will join me in expressing our grateful thanks and in a (Applause). 'ing Mr. Marshall of our complete confidencé,
'+..
Mr. A. M. Marshall-Mr. Taylor and gentle men: I am extremely obliged to you for your "Twelve desenious since the arrival of the
vote of thanks. ship have been reported, and it is believed that
The meeting then terminated,~N. C. D; most of the unfaithful sailors are by this time
News. safely across the international boundary line.
"Early yesterday morning two men dropped The letter alluded to in the Chairman's overboard and swam ashore. The others were speech is signed by "A Shareholder" and men who wore good | conduct badges and had | reads;— been enjoying shore leave.
May I trespass on your valuable space to It is said that the cause of the desertions is draw the attention of my fellow suffering share the reports the man have heard of good times holders to a few apparent discrepancies which on the Pacific coast, and the opportunities for I observe in the statement of account of the above Company, for the year ending April earning high wages at almost any kind of work.
"A number of sailors, were allowed ashore, 30th, 1907.. within the navy yard last night, for the purpose of attending a dance in a sail loft, and to pre vent further disappearances the place of amuse ment was closely guarded walle the pleasure was in progrona.*
י זין
Query No. 1-In the account rendered April 1956, there appears a balance carried forward of Taels 3.997.98, which is not included in the present account. Is it possible to ascertain what has been doan with this balance).
THE NEW ORDER, '
[N~ċ. D. Nass.)
Later.
Tokio, August 1. The Korean Army, with the exception of one- battalion which will form the Emperor's body: guard, was disbanded to-day. The soldiers are showing signs of dissatisfaction, but Japanese troops are in readiness for all edergencies.
Viscount Hayashi arrived in Tokio, from Seoul this morning and was immediately re- ceived in audience by the Emperor,
General Fukushima, Adjutant-General of the Forces, left Tokio for Seoul to-day.
In consequence of the disbandment of the army the Korean troops in Seoul, came into collision with the Japanese troops this morning and some fighting ensued.
A decree has been issued to the effect that any saving la expenditure effected by the dis bandment is to be devoted to the industrial development of the country. The disbrad ment of the Korean troops (with the exception of the Palace Goards, whoso services are still required) is represented at a preliminary step to the remodelling of the Army,
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with the announcement of her occupation of Kino-Chau. By the movement Germany had forestalled Russian designs upon the same point, designs, which had been revealed to the world by the premature disciture, of the terms of the Cassini Convention some fil- teen montha
"this imival to 'park | before taking action; buff so soon as the seizure was effected, she set to work to convert her possession into an impregnable position. Expbaie has not been spared in accomplishing this work; and, by the time that it is completed, no less than fifteen millions sterling will have been expended upon Thing tao alone. From the fist it has been in tention of the Imperial Government to convert Kiao-Chan into
THE "MONMOUTH" AT YOKOSUKĄ On Thursday evening the Yokosuka Munici-
Mr. Suzuki, Mayor of Yokosuka, and the members of the Municipal Council attend- ed as the bosts of the evening. All the houses “in the city displayed flags and lanterns in hong our of the British visitors. The men at the naval barracks at Yokosuka entertained the crew of the Monmouth to dinner at the Sen. men's Club the same day,
The British squadron on the China station, consisting of the flagship King Alfred, and the cruisers Kent, Astrae and Bedford, arrived at Miyazu on Thursday afternoon. Admiral Moore was on board the King Alfrea. All the boases in the city showed the Japanese and British flags la honour of the squadron. A collier and destroyer were due to arriva yaster- .day. The squadron was expected to leave
Miyaru for Niigata yesterday,
THE STEAMSHIP "KNIGHT
COMMANDER MVR
A FIRST CLASS HAVAL STATION.. To this end a programme was mapped out, which embraced the creation of twelve strong forts, the 'pyovialon of naval and commercial
On the zud ultz, Major Anstruther-Gray aik- harbours, the constructions of granite docks And floating docks, besides some miles of ed, the Secretary of State for Foreign Affairs ** quay, At present the jager (daval) harbour, whether any reply had been received from them a steel floating dock, and five of the twelve Russian Government regarding compensation. forts are finished, while barrack accom for the loss of the steamship Knight Com
hodation for five thousand men has been cop-manders and whether, similar German claims structed. Thus, even as it stands to-day in have been settled, poleg te Its present incomplete state, Kiao-Chau ban Bir E. Groy: The Russian Government have become a singularly strong possession, and its not yet replied to the proposal of His Majesty's value to the German squadron on the Chias Government that the case of the Knight Cam- coast and in the Pacific generally has long mander should be abmitted to Arbitration The circumstances of the case of the Knigh
"
been eslabond has seen theering Commander cannot be said to be simila
If the last too
of Kino-Chau Bay to a naval, bass, industrial that of the German vessels in the case of th circles in the Far East throughout this same British vessel the Supreme Admiralty: Conne period have been treated to an interesting re at St. Petersburg held the vessel and moxt velation of Germany's economic aim. Side by her cargo to be good price... In the Gerus side with the projection of a first-class German cases the confiscation was not 'upheld by f naval base in Far Eastern waters there has Count, and consequently compensation been the gradual evolusion of::
awarded in respect of both ships and cargo
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