1909-12-31 — Page 14

480

¿BBRICANS

CHINA,

THE HONGKONG TELEGRAPH FRIDAY DECEMBER 31 1909

But out

COMPANY LTD.

EXTRAORDINARY GENERAL MEETING.

meeting.

The secretary read the notice calling the

shares.

as

A

THE BUSINESS HALF-TRAR.

RESULT OF WORKING OF COMPANIES I90-

cent,

JAPAN.

COTTON SPINNING.

WEAVING,

(hirohada mono) has been satisfactory, but the With large stocks of raw Cotton bought at

varied, depending as it does on the method of a low price, the wearing of broad widths

selling the roads. The result of the weaving result of cotton flamed weaving has been

of slik and wool mixed and of parely silk goods has been unsatisfactory..

PETROLEUM INDUSTRY,

The outpat of oil for the patiod under review has not been less, if it has been no more than that for the corresponding period in past years,

competition of foreign oil. The price has con and the mathod of refining has shown some

sequency vector, was the result that the set improvement, but every company has been involved in so small expense by reason of the

pales could not be neutralised. The Hoden reduce its rate of dividend considerably, and back received in the past by some of the com- Petroleum Company has been obliged to the Japan Petroleum Company will be able to maintain its former inte of to per cent, only with difficulty, '

SUGAR REFINING,

each company has had to provide further lands for this purpose, and the dividend of the Kobe Sugar Company will be restricted to 7 per cent.. per annum.

FERTILISERS.

that a scarcity of supply was falt at one time So satisfactory has been the axle of fertilisers and the stock which bad congested the markets has been cleared. Such being the case, the result of the working of the fertiliser companies has been generally satisfactory, but they have for the most part besa compelled to forego devoted to balancing the loixes in the past. a distribution of dividend, all the profit being

FIRE INFRANCE...

It is rather a pity that the American Asso- who is not templed by the beaten track, or an amount? Is the money really forthcoming THE CHINA'LIGHT AND POWEL ciation of China should deem it best to re content to view the obvious. A writer la the whatever the patriotism? Is the world to be (18th December.)

main silent on this subject. It cannot be, Paris Cosmos has been attracted by the astonished in 1910 as it was in 1871, when the American interests in China are carefully or the other on the subject, especially con declares that the introduction of indus quite prepared to believe that there are vasi surely, that they have no opinions one way industrial activiiles of the Cantonesa and the Republic? It is impossible to say. We are French milliards came rolling in at the call of watched by a body known as the American aidering their intimate association with the trics and mechanical undertakings on the hoards in China: we have little doubt but that China Light and Power Company, Lid. was Association which meets at Shanghai. Ata Chinese. At the same time if they have European plan is proceeding much more the £123,000,000 might be found if there held to the offices of the general mabageri, An extraordinary general meeting of the rule the average American seems to be so resolved to keep a latent upon safeguarding his own interests question, they have not been beguiled Into He states a fact which hardly needs to be and if there were, would it be advisable to emings, yesterday afternoon. Mr. Robert Shewan branches of business for the half-year now clou shut mouth on this quickly than most Occidentals imagine, were sufficient extractive power, but le thero, Montrs. Shewan Tomes & Co, St George's Build results of the working of companies in various The deal has an article dealing, with the that he has little or no time to give to mat-blatant trumpetting of their own merits. We emphasised, viz, that European Industries play it? Threatened with an alles control of presided and those present included:Messing. The journal notes that spinning com ters which concern his country-as diatio- have heard so often about the return of past have begun to be introduced into Chion, stand the intense desire of the ruling classes to Babiaton, G. G. Gordon, E. W. Tarray, A. G. collon purchased at a lower price and brought guished from bis private individuality. He of the United States Indemnity which was and their progress is now becoming more avoid such a bumiliation at any cost, and there Gordos, H. F. Campbell, J. A. Young, A. A. aver from the preceding period, and the yam Tarenus and expenditure we can easily under H. P. White, of the consulting committes, A. paulan generally held a large stock of raw seams to say la effect: What's the use of really no gift whatever to the Chinese, the and more rapid. At Canton in particular, is beyond the huauillation another considers- Corileiro, R. Unsworth, P. M. Hodgren and market ruled comparatively high in conse having a Minister and so many contual-gen fact being that the United States over we find a series of factories whose pro eral if they don't attend to the affairs of the charged China in the first instance and only sence greatly astonishes those who think the name, the peculations of the multitude of

tion. Wore there any foreign control worth D. H. Young, socrotary, nation? And so it is that we seldom hear of returned that excess when her conscience of China as still fixed in the past. Here wo mandarins would cease. For every dollar ze the American merchants in China burying began to prick her--that we expected to see find a cement factory, the property of the be terrible from their point of view, but what resolution before the meeting is solely for the rally they have been able to obtain a cotton seen since September has not had much. quence the beavy advance in the price of raw themselves with matters foreign to their own

ceived they would have to account. This would.

effect on the profit of the spinning com business. The missionaries; of course, have generosity of Americans as a people. But the guidance of a German engineer; no less per cent. who are not officials in any way? capital and pay undivided profits to shareholders ing period. The Osaka, Sottan, Fakushima, some reference to the philanthropy and Government, but directed by Chinese under about the taxpayer? What of the ninety-nine purpose of enabling the Company to return result no less favourable than for the preced. The Chairman said:-The object of the panies for the present period, and gene their finger in the pie on all occasions, for it is no, nothing is said on the point. the aim and object of every missionary to keep in the Shanghai Mercury dealing with this out. Canton also has a waterworks run contiques the Mercury. We think they would, ing 5 per share to the holders of the go,ous dividend at the rate of 13 per cent, the

A writer than 500 barrels of cement daily are turned himself well in the centre of the limelight, but attitude shown by Americans says that the entirely by Chinese, which furnishes daily and if the matter were put before them thus: Sto shares we shall reduce that capital to 50,000 Amagasaki 30 por cont, and the Godo so par Would they not rather welcome such a reform? to the extent of $500,000 altogether. By return and Kanegafuchi are each enabled to pay a theu nobody pays much heed to what a mis only reasonable attitude taken by Americans more than 7,000,000 gallons of water Hand out every tabl you have hearded up in shares of 55 each and we shall make an equiva atonary thinks or says. It is only when be in China has been that of the reasonable to 10,000: subscribers. This latter figure order that our old system may be preserved, lent payment in the shape of a bonus of $5 per begins to "do" things that he becomes objec men of all other nations who have had per shows clearly that the Chinese are quick watched to think that they would in: share to the holders of the 50,000 special St tionable, sometimes developing into a regular sonal experience in this country. That it is to understand the advantages of perfect that it was foreign, and therefore strictly honest $300,000 in 50,000 shares of 15 each und 50,00 public muisance who has to be squelched, true that the United States have in the pasted processes, and notably of the house control, would prefer to keep their board, take quire an to the alternative, and if they learot

The paid up capital will then be Recent events in China, however, have stir-taken up, at times, a different standpoint to-house distribution of water, when they advantage of foreign integrity, and let the bad The present resolution which cienot be con red up the national sentiment in the hearts of from which to view the Far Eastern, ques- have the wherewithal to pay for it. We find old system disappear. Io a word, we shall be firmed until an interval of fourteen days from shares of St each and 50,000 stures of Și dach, the Americans, and led them to demand tion goes without saying, by why was it so? also at Canton, besides the arsenal, a smoke much surprised if the new-bora patriotism of to-day has elapsed will give us power to that, America shall no longer be a spectator The answer to that question would occupy less powder factory, as well as the provincial Chion will be found equal to this task. But for modify the right of any class of shares by a in the game of financing the Middle King many of your columns and therefore cannot mist; there is also a paper-mill and a will, and that the whole of the sum required in agreement made with a trustee acting on behalf dom. And the success, achieved is calculat now be entered upon. Suffice it to say cigarette (actory, not to mention the railway forthcoming. What interest will be asked of the holders of the class of shares in question the sake of argument, let us suppose that it special resolution passed in coof realty with an ed to induce a deeper interest in the affairs of that the reason why America has always shops the Chinese than has previously been mani- been firm iu ber self-denial in the East struction and repair of vessels. But what is China is far greater than it is in the richer west. traordinary resolution On the confirmation of and various shops for the con- Everybody knows that the value of money in provided such agreement is ratified by an ex fosted. It is in that light that we turn to the annual report of the American Associa. She did not aspire to the annexation of this very Chinese city, where, in spite of the most great powers at less than five,

was because there was nothing to deny. perhaps the the most curious thing to find in ogland can borrow at less than 3 per cent. and the present resolution fifteen days hence the tion of China. The total membership stands Chinese territory, for example, because it foreign quarter, the natives form a large et cent. uprari, while the Chinese govern shareholders to pass the extraordinary resala at 166, of which 66 are non-residents, while was her policy (till 1898) not to audex any portion of the clientele of all these industries, ment can command far beiter rates from forting, to ratily these agreements. When that But company will enter-faso the agreements referred interest amongst the Chinese runs from 10 to and we shall call meetings of each class of three are honorary members. Turning to where except on the N. American continent, is au electric plant, installed on the most eiga sources. If the money is to be forthcomin done we shall on the same day (as an ex matters of purely American importance brief If she had so wished, she might have taken modern plan. This station was erected ing at all, therefore, it will be at much greater traordinary resolution does not require to be reference is made to the extraordinary fiasco strips of the North African coast, but she by the China Light and Power Com-cost than at present. But it may be argued confirmed) propose the special resolution to which atteaded the appointment of Mr. did not, for the same reason that she did not pany whose headquarters are at Hong- that the interest would remain in the country. Charles B. Crane as Minister to China. The seize Formosa or Chusan. She did not want kong; it stands in the district called Ng Sin There is something in that, especially for the will have to be confirmed after another in report merely states: "There seems to have them. But her attitude towards the Chinese Moon, which means Southern Gate. The bondholder, the five or ten per cent. minority terval of fourteen days. We shall then be in return and pay the $500,000 which resolution been some difficulty ou the part of the State who came within her own borders told as necessary motive force is furbished in the to carich that minority? Our native contem to make the return of capital and pay the bonus. Department in finding the right man to suc ceed Mr. Rockhill, Mr. Chas, R. Crane of were dictated by policy, just as are the acts crude petroleum and giving together 600 the new scheme. Possibly they are.

other story. One balanced the otlier: both first place by three Diesel motors, using poraries tell as the people are enthusiastic over

of the people. What of the ninety-five matcted a position to apply to the Court for permission Chicage, an experienced business man and of all the other powers. None of us can horse power. There are also five steam contemporaries do not tell us that the people Company be altered,

I beg to move the first resolution - one reported to be sympathetically interested rightfully claim pure altruism in anything. engines yielding 730 horse-power; the team sederstand either the scheme or its con.

That the Articles of Association of the and practically well-informed with regard to We cannot tell whether the writer is an Ame is produced by four Babcock-and-Wilcox sequencer. If they did, and when they do Eastern affairs, was appolated by the Presi rican or not but he certainly bits the nail water-tube boilers, burning Japanese coal there will be a different story to teli per dent and accepted the post. But before leaving the United States he was recalled America's attitude of self-denial. We have Condensers of a good type assure excellent of the land that owes it. Suppose the conver on the head when he talks of the reason for and furnished with a Green economizer. debt anywhere exclusively bald by the people haps Wo doubt if thate is any nations! and his resignation asked for. The reason said that no reference was made to the re-working and the forced-draft system is sion of the Chinese debt completed, what is lo for this action is not altogether clear even at the present date, but it seems to have been

turn of part of the Boxer indemnity fund. used. All the workmen in this station, to prevent foreigners from buying the stock? It dedicated by diplomatic necessity." In any falsifies that statement. The benevolence for the Cosmos. But other writers are and French Hentes are marketable. Anybody. Alas, more careful reading of the report the number of 121, are Chinese. So much will have to be marketable as British Consols case the prestige of the United States of the was not helped by the curious and brought in under the beading Relations Chinese. In Angineering a writer remarks money, there would be all the grea or templa United States Government is springing up to proclaim the industry of the may buy them.. And as China would have to abrupt dismissal or resignation, call it what between the Chinese and United States that the progress and still more the future tion to the foreign financier to come in, offer a bigh rate of interest to get the required you will—of a Minister just on the point of Governments," and the nole reads: "The possibilities of Chinese steel manufacture will be seen from these reflections that the embarking to take up his official duties. relations between the two Governments are and iron production are attracting much difficulties in the way of realising the enormous Referring to the appointment of Mr. Amos unusually cordial. The action of our govern attention both in Germany and America, task of redeeming China's dab:s are almost io. 1. Wilder to the past of consul-general atment in restoring part of the Boxer The fact that the Hanyang Iron and Steel superable. There can be no doubt whatever Shanghai, the review says: "Mr. Denby's demuity fund has been magnified at home Works were capable of securing a part, advance the money, for despite all that has successor in the Consulate-General is Mr. in China, The friendship implied therein albeit a small part, of the contract for rails been said and written on the subject China in that the people of China if they willed it could Amos P. Wilder, whose transfer from Hong has been grasped at by mady Chinese as the 7,003 tons of 85 lb rails) for the southern not a poor country. Paveny there in but it is kong to Shanghai admitted of a short visit to precursor of some kind of an alliance where portion of the Tientsin-Pukow Railway in never that grinding poverty which characterises this port before sailing for home on a pro- by China might escape from the resistless competition with the German Steel Union, the large centres of the west; as for wealth no- mised furlough from which he returned to inroads of other Powers.". Will the Ameri- which was entrusted with the bulk of the body has yet dared to formulate an idea of the Shanghai on December 3rd. He has been accorded a sincere and hearty welcome to

cane never forget that they performed an act order, has been particularly noted in Ger bidden hoards of the county. If these boards his post. The American community in what they had no right to demand. Take the sed as

of common justice when they gave back many. An American expert has expres piro's liabilities would be assured, but there is

were to be drawn upontharedemption of the Em Shanghai congratulates itself on the appoint case of England. She gave no part of the wages paid must place Chinese steel redemption scheme. It has no tangible form; bis opinion that the minimum something lacking to fire the imagination in a ment of Mr. Wilder to its Consul General indemnity claimed by her, because why? manufacture outside the scope of ordinkry there is nothing but bonds to show for the out. ship and has extended to him its ansurance Because of thorough confidence and its promise of every penny that had been claimed and question of time for China to develop a certainly would fail to obtain the support of Sir Edward Grey, stated, competition, and he thinks it is only a lay; it does not appeal to the patriot and it earnest co-operation in his new field of more lind been spent by the British Govern considerable iron and steel industry, the individual accustomed to the ways of men. work." Very little is said about the deparment in connection with the expedition to ture of the "famous" Judge Willey. When Peking. But in America to give back that we recall the amazing series of events which to which you are not entitled seems to be occurred in Shanghai while. Judge Willey considered to remarkable that when the sat on the bench we think he was entitled event does occur it is hailed with acclama to more than a two-line notice to the effecttion and self-glorification. Possibly we will that he had gone. But when we read what I hear the last of America's abnegation been stated that China could supply the rest lotarlat which they exercised in the days be- in said of his successor, we begin to fancy some day, but it is evidently too early yet that the writer intended that the reader to expect that American writers will forget should read between the lines. For this the subject. Of the rest of the report there is how the paragraph goes: In Nov. is little or nothing to say beyond this, that ember 1908, Judge Lebbeus R. Wilfeyit is clear the Americans are thoroughly deposits, of manganese ore containing BOUGHT IN BY PORTUGUESE "AUTHORITIES. gave notice of having resigned his post- earnest in keeping in touch with municipal ion as Judge of the United States Court for China and left for home in December, 1908. His successor, Judge Rufus H. Thayer, arrived in Shanghai on February

THROUGH OCCIDENTAL BYBS. 24th, 1909, with Mrs. Thayer, and im mediately took charge of his judicial post,

(29th December.) Judge Thayer has already been in Shanghai It is always interesting to find a tourist long enough to have become a familiar and who avoids the beaten track in order to dis. very pleasantly familiar member of the com. cover for himself the characteristics of a city munity. It is with the utmost satisfaction such as Canton. The regular routine is to that we record our appreciation of the digni- rush round Cantos, view a certain number fied and scholarly manner in which be has of temples, chaffer and haggle with some conducted his office and the great tact and dealers in curios, and hasten back to the wisdom with which he has met the unsettled river steamer.. But Canton has claims over and critical condition of American opinion and above those to be found in every large at the time of his introduction, Judge Chinesecity, for while iris the capital of South Thayer has already won the esteem and con. China it is also the most progressive city in Bidence of the community." Are we to assume

all China. Its inhabitants are noted for from that reference that American opinion their business perspicacity and enterprise, was not altogether on the side of the, un- their fierce patriotism which is often calcu- settling Willey? However that may be, lated to lead the unsophisticated into colli- it is certainly curious that we hear so little sions with the authorities, their resolute aim nowadays of the doings at the American

to secure China for the Chinese-that shib Court in Shanghai as compared with the boleth invented by His Excellency Shum period known as tile Wildey regime. There when he was acting Viceroy of the two is this sentence in the report which explains Kwang Provincer-their financial power and a good deal: "It is to be noted that the resources. and their spirit of enlightened recent examination for admission to the bar endeavour. For some time little has been of the United States Court for China was heard of the commercial undertakings pro- conducted along somewhat different lines moted by the Cantonese but that is no proof than, previous examinations; from which it that the native energy of the Southern a measure following the example of Japan is to be inferred that admission to the bar of Chinese has lain dormant. There can the U.8.Court for China will be governed, inso be no doubt whatever that they are far as practicable, by the same rules and con- steadily heading for the aggrandisement number of semi-independent Provinces which ditions which govern admission to the bar of of the Provinces the higher Federal and State Courts at home."of their own affairs. Probably there is no. Passing to general matters of interest there viceroyalty which is so independent as is an interesting note on the subject of that ruled over by His Excellency Yuan, Chinese exclusion. "The matter of legis for Peking knows the temper and charas lation on Chinese exclusion has made, so ter of the Cantonese and leaves them to far as we are aware, no advance. The work out their own salvation pretty much former Secretary of Commerce Straus made as they please? As the Cantonese are natu- a report on the question, advocating a form of immigration laws that would apply equal ly to immigrants of all countries, European or Asiatic, with no offensive discrimination against Chinese as a race people, but no action has been taken by Congress to carry out the recommendations of the executive officer of the government. The Executive, however, has utilized the power which it por sesses to modify the regulations and to ameliorate this serenity so that no com plalats have arisen from Chinese of the mer chants and student classes. Without being prepared to state the extent of our agree ment with the above, it is to be hoped that a new treaty may get be negotiated, defining the intercourse between the two countries.)

25

affairs which is a good sigo.

and the

other important establishment is at present, in fact, magnificent though it may be, is simply in course of erection at Hankow, viz., the

darie mansgemont in the interior. The scheme Yangtse Machine Company, which will buildit affords of how Chinese officials are striving ships, engines, boilers, &c., and which already might and main to oust the hard-working for. a soap bubble; its only value in the indication

employs 1,000 hands. China boasts iron ore deposits of immense capacity, and it has over the lives and purses of the Chinese pro. aiguer and to regain for themselves that power

fore the foreigner had appeared on the scano.

GUNBOAT "RIO LIMA,"

fact is that China's wealth of iron ore of the world with ore for centuries, but the has not been properly or even approxi- mately ascertained. There are also large. from 10 to 25 per cent. manganese,

The obsolete Portuguese gunboat Rio Lima. The effect of such writings is bound to

was put up for sale by public auction by influence opinion ip Europe and America and it is such observers as the authors of these noon, acting under instructions from the Massia Hughes and Hough, yesterday after. articles who are wanted in China rather than Portuguese naval authorities. A large num the harum-scarum, round-the-world-in-five- ber of intending Chinese purchasers attend- minutes tourist, who wishes to see the earthed the sale and bidding was, in conse at the least possible cost to himself and the quence, very spirited. The first offer made minimum of trouble. How many of that

was one of $to,pan which advanced by happy band who travelled by the Cleveland bought in by the Portuguesa naval official bids of $500 to $19,500, at which price it was gave a second thought to the potentialities present. of Canton, or gave a thought to anything be. and the fact that at some future time they being able to say: "Canton? Oh yes, I've been there. Know it like a book." would have the pleasure and satisfaction of

A CHINESE REDEMPTION

SCHEME.

The dimensions of the Rio Lims are

Extreme Length

169 ft. 6 ins. Length on Water Line... 50 ft. 3 ins, Extreme Breadth

27 it. I ink. Displacement Dranght For tons.

10ft. oin. Draught Aft. It ft. 2 in.

The fire insurance companies have been affected by the Osaka conflagration, but the result of the working slace that date, is said to have much Improved, and it is probable dividends will not be much if at all reduced.

"The production of sugar has been satisfactory and the market has been maintained fairly paragraph 4 of Clause VIII. a new paragraph machinery and plaat having been inadequate

1. By inserting therein immediately altered; bot the reserve for the maintenance of well, the supply and demand being well balance follows

5. Whenever the Capital of the Company is divided into several Classes of Shares all or any of the rights, and, privileges attacked to any Class may be modified altered sub-divided re-arranged of dealt with by Special Resolution of the Company passed pursuant to an Agreement in writing made between the Company and some member of the Class purporting to contract on behali of the members of the Class provided such agreement shall before the Spe cial Resolution is passed be ratified by Extraordinary Resolution passed at a

** ELECTRIC LIGHT COMPANIES). separate Meeting of the Class or by writing under the band of the holders

"The demand for electric light. has continued of at least two-thirds of the shares of

to increase year by year, accompanied by a cor- the Class and it shall be no objection responding increase in the rerepre, but the to any sucb Agreement that it pro dividend by per cent. for the purpose of im Osaka Electric Light Company has reduced its vides for a reduction of Capital athar wise than in accordance with the legal proving the position of the company, and the rights of the holders of shares of the Kyoto Electric Light Company is also propos Class or for the payment of a dividending to increase ite reserve and distribute a lowas or bonus otherwise than in accordance dividend. with the rights of the Holders of the shares of the Class or for the allot. ment of shares credited as fully or parily paid up la satisfaction or part satisfaction of such dividend or bosas and for the purposes of this Clause a Resolution shall be as Extraordinary Resolution when it has been passed' by a majority of not less than two thirds of such members of the Claas entitled to vote as sro prosent in person or by proxy at a separate Gen eral Meeting of the Class of which Notice specifying the intentido to propose the Resolution as an Extraor dinary Resolution has been duly given and-so that the queram of any such Meeting shall be three members at least of the Class and ac that the

The half-year about to close has proved a Meeting shall be called in accordance very bad period for the banks. The demand with the provisions hereof,

for money has continued very dull throughout Mr. H. P. While seconded,

the period, On the other hind, deposits have The resolution Was UCRDimously adopted..

steadily increased in consequence of the re The Chairman; I beg to move the second demption of Government bonds, the introduc- resolution:

tion of foreign money, and the paucity of 2. By innesting immediately after paragraph

new enterprises. Rates of Interest of bank 7 of Claura XVI, a new paragraph as follows: deposils have been lowered, but a consider-

8. Any General Meeting declaring a

able amount of money has remained idia in the Dividend may direct payment of such

kafes of banks Moreover, the revenue from: Dividend wholly or in part by the fee received in connection with the issue of distribution of specific assets and in company debenturas, &c. has buen smaller particular of paid up shares Deban-

than usual. Consequenily basking profits have jures or Dabeature stock of the Com

bean small,Owing to the general rise in the stock market, however, the banks have made a pany oral any other Company or in aay one or more of auch ways and good profit on the difference in the prices of the General Managers shall giva al-

stacks held. Of the Osaka banks the Kitabama fect to such direction and where any

and 34th Banks each count on distributing difficulty arises in regard to the and the Naniwa and Omi Banks the same rate dividend at the rate of 8 per cent, per assum distribution they may settle the same as they think expedient and in particu- the suma allotted to the proprietors in the case as for the preceding period (10 per cent), but lar may issue fractional Geriificates

Payment

af Divid. mds other. WILE

an in.

Cub,

"

LIFE INSURANCE. Competition has steadily increased in the life insurance business, and canvassing expenses have multiplied in proportion, but the result of the operations bas been favourable. Moreover, the companies hava reaped considerable profit from the advance in the price of bonds held by them, and it is estimated that they will be able to distribute a dividend at a zato not lower than that for last year.

BANKING BUSINESS.

SHIPPING.

and may fix the valus for distributios of the Sumitomo and Yamaguchi Banks are of such specific assots or any part expected to be a little less than for the preced. thereof and may determine that cashing period. payments shall be made to goy mem- bern upon the footing of the value o The result of the working of shipping com fixed in order to adjust the rights of panies has been generally unsatisfactory, Tha all parties and may rest any such spe- supply of tonnage has been greater than the cific assets in Trustees upon such demand in consequence of the depression of trust for the parsons ontitled to the general trade. The Chinese boycott in South Dividend as may seem expedient to China has also affected shipping business in the General Managera. Where re

Japan, and rates of freight generally have ruled quisite a proper contract shall be filed low. Steamship pursers have been observing in accordance with Saction 7 of the strict economy in expenditure, but steamers Companies Act 1900 and the General bare only paid their running expenses with Managers may appoint any person to dificulty. No dividend will be distributed by sign such contract on behalf of the the Toya Kisen Kalsbe, but the Japan-China persons entitled to the Dividend and Steamship Company is expected to be able to such appointment shall be effecilye distribute per cant." owing to additional Mr. Terrey seconded,

freight received by the temporary boycott of

10 per cent, with the aid of a bounty, sed the British steamers on the Yangisa." The Nip pon Yusen Kaisha will distribute a dividend of Osaka Shosen Kaisha 6 par cent

gentleman. These resolutions will have, of The resolution was unanimously adopted, The Chairman: That is all the business,

fourteen days. Coprie, to be confirmed at a meeting wlibiu

FIRE AT QUARRY BAY. the Chinese Board of Finance is engaged in (30th December.) According to the Shanghai vernacular papers the consideration of the best method to secure

STOCKS OF ASHES ABLAZE, the redemption of all the outstanding liabilities conflagration broke out la the neighbourhood of of the Empire to the foreign world. Here is a Quarry Bay yesterday forenoos. It was at first What at first sight appeared to be, a serious colossal scheme which is worthy the attention feared that the Taikoo Sager works were ablaza of a Rothschild or a 'Pierpont Morgan, bat China was ever noted for its grandiose ideas round the city. Fortunately that story proved and indeed that was the rumour which wont passed. It will be recognised that in proposing no small proportions although it is doubtful if which flattered in the air for a time and then to redeem the foreign liabilities, China is is any serious damage will result from lis effects. to be a canard, but nevertheless the fire was of

Near the water froot on ground which we under after the late war, but there is always this stand belongs to Messrs Cutterfeld and Swire piled and it is believed that one of these stacks, difference that whereas China is split up into a

great stacks of cinders, slag and coal refuso aro control have to be treated separately, and without which had probably been smouldering for daya reference to one another, Japan is administered suddenly broke out into open flame At any mutual interests. At any rate let us see what ing plant of the firm was quickly brought to bear as one homogeneous whole, and the co-operas rate, when the smoke was obesived rising from tion of all the islands is secured by their the heap of disused material, the fire-extinguish- this scheme of redemption means no far as Chips is concerned, la the latest edition of directed to the scene and rendered efficent ser

on the red-hot mass. The fire float was also Hazell's Annual, the outstanding liabilities of vice throwing loss of water on the concentrated the Chinese Government amounted to a total heap of red flams.. Altogether there were four rally a go-ahead people, who have little or

of 133,685,730, but in reality, if the redemp fire angines and the fire flost at work pouting an Rubber Company was held recently at which A special general mesting of Sandycroft nothing in common with their compatriots account of the Japture and Boxerwars will, by stack. It is said there were about four thou. of Stoo each into fifty abarca of Sa each. This

tion fails, the total aminuot paid by Chica on in the north, such a condition of things is 1940, have amonated to roughly £250,000,000, sand tons of this practically useless material to resolution was confirmed on Dec. 40:

immense supply of sea water on the burning it was resolved to divide the existing shares probably the best that could be devised. to say nothing of other and earlier commitments, a state of almost white-boat. Three fire ap But how many globe trotters give a mom- The proposal, therefore, to man who know plisecos from the city were sent out to help but KITCHENER'S NARROW-BSCAPE, col's glance at this side of life in Canton, They marvel at the narrow streets, they rank with the impossible. We have had Experienced engineers say thar this sort of fire. China is one that sounds so extraordinary as what the result was we have not yet learned. shudder at the scene on the execution long experiance of China and her customs, can never be extinguished by throwing water mid Java to Sonrabays, had a narrow escape on ground, they lay themselves out to be suspicion with which her people have viewed whole mound of debris and so get the of the station there, when by some means, or Lord Klichecer, whan travelling by rail from remasks a contemporary, swindled by the apacious curio-dealers, all and every suggestion of her authorities fre out bit by bit. It is related, that a another the first coach in which His Lordibip the North of the on it. What must be done is to turn ever the leaving Solo. The train was being backed out they gato with amazement on the five when such suggestion meant the transference similar outbreak occurred at Singapore soms was seated, became derailed and overturned. hundred: goda and do all the correct of current coin from the pockets of the people years ago when a stack of ashes was found to Lord Kitchener crapt out of the vehicle court things at the correct time. But as far as the to the coffers of the mandados or the central be in the state, of a volcano on the point of and got safely into another coach which was commercial Importance of Canton is contorernment." is all that experience to go for erpilan. It took five thousand coolies six soon hooked on to the englas The Journey cemed or its possibilities in the future, they there has been a great awakening, perhaps we 10 our Information, there is no danger at Quarry Soundbars on December 11 where he embarks nothing? We am quite ready to believe that weeks to sxtingolsh the outbreak. According was contlaued; and Lord Klichener arrived at have neither eyes or earn. It is therefore ought to a great creation of native patripe Bay. The damage will be comparatively ed on board the steamer Fun Outhogra for Port interesting, as we have said, to find a writer - Him, Eu: Will it run to the production of es reas, iridiag

·SANDYCROFt rubber co.

ELECTRIC RAILWAYS, Electric railway companies have not escape ed the effect of the trade depression. The an. nual increase in the receipts of each company traffic hasbeen smaller this year, but tas increase commensurate with the natural growth of the

before. Thus the reault of the working 16, less ip the expenditure has been in the same ratio an

bolore without reducing the amount placed satisfactory and probably no company, will ba able to distribute a dividend at the same rate as 10

Kyoto Electric Tramway to per cent, and the reserve. This will doubtless have to be done

fore--Japan Catoniska Más Kyrg if the Nankal Railway pays 10 per cent, the Hanshin Electric Railway tai por cant, ar-bes

RETURN of visitors to the City Hall Library and Messum for the week ending the 2011 December, 1909, (exclusive)

Non-Ohipes