182
Gaol in Hongkong,
IS IT A "PARADISE ?»-
(Special to the "Hongkong Telegraph!")
! :
THE HONGKONG TELEGRAPH SATURDAY JUNE 4 1010
to do mischief in the bands of whom?.. A class that in all ages has bano mistrusted—the gaoler and prison wardan. Hardened by a long courag of 'spirit-breaking, whạt cáp you expect from such, beings but callour indifference, at the best, and under such a God-defying system you must constantly produce the worst. You have a Church, you Britisness, a State Church I do not proposa to use the hospitality of a Christian, Church? You have no vague re your colume to argue with my friend" Casual collection of certain words about breaking the bruised reed'7" Wa bastened to assure Cride," who seems to have misunderstood a little the lottar I wrote about the above subject, our friend that the National Chuic provided I did not blame him for the faults of the age in chaplains who were the only friends prisoners which we live. Nor do I complain of his bad. He then declared that this was mora shame to us, that we left the practice of Chris genially satiric invitation to me to "put my shoulders, to, the wheel in one grand effoitianity to chaplains. And I who wonder how and start a swotping reform against prison methods which are at present existent." I cannot, being circumscribed by my three sides, fill all the world as did the immortal Howard with the fire of my pity for those who most deed and least deserve, pity. No Individual Englishman is to be blamed for pot beading Crusado. But every one of de should raise bis voice and direct his will against tyranny and, useless infliction of pain." We often use the word "un-English" when condemning something base, unworthy, degrad- jag. Our pride of race places us in the van of Freedom lovers, and we like to think of oursel- ves as the most highly developed, mentally, morally and socially, of all the civilized soos of My single voice therefore is not that of one crying in the wilderness.
"19 IT TRUE,"
шев.
which was
:
preseut
much longer""spirit breaking" is to contibus, protest against it ia" the bame of reason and common-sense, not to spark of holier grounds, on una of which, Civilizatiou, ji based."
THE TRIANGLE, '..
THE CHINCHOU AIGUN
RAILWAY.
A. S. WAISON & CO" LIMITED,
ANNUAL MEETING,
31st ult:
The twenty-fifth, aboual urdinary general meeting of A. S. Watson & Co, Ld., (since s cgistration) was held at the offices of the come pany in Alexandra Buildings, at noon, to-day, for the purpose of receiving the report of the general managers, together with a statement of acc:unts to 31st December, 1909. Mr. Henry Humphreys presided. There were also pre- sea-Sir Hormusjes N. Mody, Hon. Mr. X. Osborns (consisting commas), Mixista, j M. E. Machado, E. W. Terry, J. McGubbio, Enos Seth, L. Guy, D. E. Clark, §. 1. Chap nau, Pang Shau.chus, A. H. Ough, and A. Tarrant (secretary).
|
WATKINS, LIMITED,
ANNUAL MEETING,
31st ul. The eleventh ordinary angual meeting of shareholders in Messrs. "Walkins, Limited, for the parpose of presenting the repit of the goperal managers and a statement of accounts for the year ended ́zist Decomber, 1909, was held at the Company's office at menn to-day. || Mr. G... Watkins took the chair and others" present were Messre, Chao A. Fook, A. R. 'Lowe and 5. D. Mahal.
Mr. Chan A. Fook baring read the notice convening the meatlog, the Chairman said :— Gentlemen,-The report and accounts "are in your hands, and, with your permission, we will take them as read We commenced the year with improved prospects and I am pleased to Inform you that our volume of business has bara much larger than the previous year. In order to meet increased competition we bad, however, to considerably reduce our prices all round and this, taken in conjunction with a toss of some $2,000 in exchange, as against a profit of over $5,000 in 1908, Rccounts mainly for the smaller profi's shown. Nevertheless, your Directors have agreed to luifti the, pro- mise made at the annual meeting last year by declaring a dividend, which, we trust, will meet with your approval. Your property in written down to the lowest possible figure that the auditore would agres to. With regard to the stock-in-trade in particular, it is extensive, up-to-date and fresh, and evidently machi with public approval, if we may judge from the increased amount of business done..
With these remarks beg to propors tha adoption of the report and accounts as presan!- Before putting this to the vole i shall, however, be pleased to answer any questions.
There were no-questions,ning. The Chairman Will any shareholder pre sent kindly second the resolution now balore the meating?
The Secretary read the notice convening the meeting.
The Chairman said: Gentlemen, I proposa to follow the usual course and take the report and statement of accounts as read. You will nule that "Extra Concessión Lat. No, 78 and. the building thereon, Canton, $9,966 " appears PROBABILITY OF CONSTRUCTION.
in the accounts for the first time. The Chinese London, May 25. landlords would not gräbl-another lease of the Mr. Wilfred draight is now in Pariz, where premises except at a prohibitive rent, so your he will meet Mr. Pierpont Mo gan, the fisâu goueral managers with the approval of the cier, (bose interests in the Far East Mr. Consulting Committee decided to buy the Straight represents). Before his return to property, Maring Lot No. 2c, with the build Chit Mr. Straight will call at St. Petersburg Aing thereon, has bean sold for $165,000 sad discuss with the officials concerned the attitude will not agaia appear to the balance sheet. The 'ol Russia towards the Chinchou-Aigen Rail. difference between $165,000 sad the amoyat it stood in our books last year, viz, $173,917.83 amounts to $87.82. This "sum, reprosects money formerly spent improvements to the factory building vow sold," so has accordingly beep transferred to building improvements ac count. We shall commence the erection of aed. new factory at North Foint more suited to our needs, at once.--The-Hankow branch was sold as on 31st December, eg, at its book value, and the amount of our general liabilities has been curespondingly reduced. Our policy in a future will be to concentrate the business more and to close as opportunity offers all the small European branches col immediately adjacent. to Hongkong; as such branches, in addition to being difficult to supervise, are dependent fargely on the personality of the particular Individual in charge for the time being, if, as often kappens in the summer, he gets sick, we have to send relief from Hongkong it the very time of the year we can least
BULLION.
Bussrs. Samuel Montagu and Cola Circular dated Lundou, May 5. contains the following:
asked an American gentlemas of intellectual The Standard believes that the difficultins tastes and strong personality. "Is it true that you British ato so far behind the lines as still regarding the line will probably sooner or inter to- tolerate torture in your 'prisons?" This be surmounted and adds that apne' of the question was asked in Hongkong, one evaning, Powers are, viqleurly antagonistic, The pro- in a small company of comfortable sinckers bainty is that with judicious action Chica after dinner. It was of course instantly answer would find no opposition, to thus, developing. ed in the negative, and with some emphasis.her own resources. It is always possible that Well, I don't know what you call torture," the Peking untböritice may decide to inínato said the Americap," but I know what I do." in The line without waiting for general approba
tion. In that case it is unlikely that the Powers the discussion which followed it became appar. cut that only two ur three men
afficled will take any particular action, but thoroughly understood the point made by merely recogniza the fai accompli, inasmuch the AmericaD. He had asked whether wc as the lion need not necessarily be extended, British tolerated torture in our prisons," at first, to the Russian frontier and therefore was surprised to learn, and so were others, that should not raise un inverbalionat question,
N. C.D. News, our' prison system, was'not perfect. No DDC need be blamed for nat being omniscient. But deficiency in human sympathy is a fault to be athamed of. For what does the callous mao feel no pity? For paus that ho not feeling. So when one man said that criminals were not ût objects of sympathy, it became necessary, tu expinto that be had missed the whole point, "WHAT IS TORTURE?” Now this word instantly calls to most minds thoughts of whips und racks, thumbscrews, and the "bool." We are ceighbours of an Empire where judicisi torture is forbidden by the Pana! Code, but where it is nevertheless practised every day. Not mach mire than two hundred years ago the unitish isles were bat unocont of it, in the same daked and, frightful form. Under other forms it existed tatil our time. Charles Reade's "it's never too late to mand" was a book which plormed an igoerant public and awakened national remorse. Yet the prisons of bis time were "Paradise" де compared with those of the time of Ho Award, or Elizabeth Fry. To congratulate | 'ourselves oa, such an improvement is merely stupid and futile. The advance has increased our responsibilities, not given 'cause for self-concent. För as man rises is civilisation, so do his responsibilities ac- cumulate, And the greater the amenities afforded him by a highly complicated mental and moral progress, the greater becomes Rik capacity for suttenej. To a Chinese-criminat, got unaccustomed to the horrors of a Chinese prison, a European gaol might "appeur to afford all the necessarius of life together with many bitherto unknown comforts. To some starving wreiches in Europe, por fat removed in the social scale from that Chicase, the sume gaol might appear in the same light. But to you and me it would be
MISKRY BEYOND UTTERANCE,"
·
Mr. Mehal seconded the resolution, which was carried unanimously.
The Chairman-Dividend warrants will be ready on and after Thursday an application át this office; they will not be sent out.
There being no further business before the meating. thank you, gentlemen, for your attendance.
This was all the business,
The report and statement of accounts are as (allows
Gentlemen-We have the pleasure to sub mit our Report and Statement of the Accounts of the Company for the year ended 31st Decem. bor, 1909.
afford to part with any of our men, and the Gold,The total am unt of bar gold av business suffers in consequence. Al ́our last shie was £4,000,000, of which lodia (187, 00) annual meeting the Chairman scarred to the aud the Continent absorbed about 400,200, failing off in the returns of the Bund branch of and the remainder was acquired by the Bank
Mactavish & Lehmann and to the decision of
The result of the year's trading shows a gross of England. The Bank's stock of gold was
the Gentral Managers to close it. This was
profit of $7,003.65 after paying all working also augmented on Monday by a record arrival done on 31st May last year and the stock
charges and writing down the stock to the rale of £1,000,000 in U. S gold coin from the transleszed elsewhert, Unill, however, the of exchange ruling at 39t liesember 1st. To States, over £1,000,003 of which was brought lease expires on 31st Dec, 1ys, further though this amouet must be added the balance of smaller losses will bave to be faced in co$,617.55 brought forward from last year also over do the str. Kronprinzessin Cecilia, th
nection with this branch. Uniprtunately ur Interest and Transfer Fers making a total of represents the largest amottal carried ou one steamer, gastward bound,, bat, close pa ing the year under review the loss at this $5,6547.44, from which your General Managers £2,000,000 was carried by the str. Lusitania
hrancti has been coincident. with smaizet pro-
have had to meet the following:- westward to New York, at the time of the latt
fits in the North and also in South Chino,
Intores!..........................$1,033.93- Americao fionacini crisis. The arrival of this Hongkong & quili. The low rate of ex-
Depreciation :- parcel had an immediato effect on discount change which roled cunng ine your, the larja rates, although the market was already welly increased rentals we now have to pay tur aware that the shipment was on the way...
The following amounts were received by the Bank-
39,
u 3
98,000 in bir gold. 79,000 in bar gold.
1 3,
Furniture & Fixtures 5 X Steam Launch.
420 19 1,100.00
Rent Account ............. Lost on Subsidiary Caipage Legal Expenses
18.63
1,742.04 814.25
many of our business premises, and increase losses on subsidiary coinage bave combined to To these may be bring about poor results. added "wages," which as regards individual April 28, £ 136,9300 in bar geld.
28, 411,000 in 0.8. kold coin from members of both the European and Chinese
stafl ever lend upwards. Fortunately the low thus leaving a Paris.
prices we are Low compelled to charge as
appropriation. result of the keen competition we have 27,000 in Lovereigos from Au 10 meet from bath. European and Chin
tralia,
*10, have, in several instances been pro. ductive of a larger turnover. The question of retrenchment has engaged the earnest allep- tion of your general managers for some time past and considerable economies have already been effected. As the profits for 1909 were less than $63,000 the general managçıɔ, ia 915,000 in U.S., gold coin from accordance with article 8 of the articles of
New York. 81,000 in bar gold. Withdrawals were made as under:-" April 28, 1,000 lu. sovereigns for South
May
31
*
3,
4
4.
2)
39,
May 4.
90,000 in bar gold. 2,000,000 iu U.S. 'gold coin fram
New York. 71,000 in US gold coin from
New York, $35.00 Imbar gold.
America. 2,000 in sova.cigas set aside fur Straits Settlements; 350,00 in sovereigns for Helland. 63,000 in sovereigns for Brazil. 115,ao in sovereigns for South
America, The net inflix during the week amounted to LAMS100.
41
4.
As pre-arranged, £100,000 which 'arrived Indian Currency Reserve, from Egypt on Saturday was not-aside for the
A further £50,000 due from Egypt on May 13 has been purchased by the Secretary of State for
Jadio.
Let us imagine the case of a European shop assistant who baving Jallen into bad com- panionship, has been driven by gambling and other sins inlu “burrowing" Hom his employer's cash, or other similar "inegularity" amount iog i not to falooy ut icest 10 a misdemeanour punishable by hard labour. "Seive him right"? Why yes, of course, serve him right. He bas committed a serious offence, aguiasi society. and must be punished: He justly, loses bis good name, is degraded from the ranks of honest mea, and is placed in strict confizemeal and bodily duress, Alihis is arcessary, and the suffering inseparable from his punishment which this criminal must go through, if accompanied by the reforming influences which should bo exercised in the prisons of every modera civilized State, will do bim good, sad while 'vindicating the Law, ani protecting Society, will reclaim and perhaps redeem him. But what if the suffering be of a very different 'mature? What if this delinquent, smarting us. der the worst disaster woich can betalla civilized man in our social order, is subjected not to reforming and reclaiming, but so de-16d on forward silver. basing, demoralising and it is the only word to une, vindictive punishment reach us part loathsome though it be, might be taken as part of a just penalty. The severity of badily labuar exercised to the verge of exhaustion in an ex bausting climate and with only that piisou diet 10 sustain him, might be endured by the. criminal in the same spirit of penitent resigna-
Silver. The lowest price recorded last month
·was'żą peace for cash; the highest-ex icily ope penny above that figura-zę pence for 2 months, the latter quotation being a record since June 26, 1918
the month, the trend has been persistently up
Looking broadly-at the movements dating
Os five days there has been a premium of
We append statistics:
ward,'
Cush.
2 mos.
Highest: 24 15625 d. Average: 24.483 74-495
on 30th Lowest: 74 d. 24 1/164, 03 7th....
Up to the close oL April about $700,000 had been shipped to India in excess of the corres. pouding period of last year. The amount for China is about the same.
We cannot help thinking that the bar
on the same large scale as recently, especially as they bave been able to secure a large amount (100,000) direct from China during the last built up a large bull" position on this market, day or two. Indián speculators bave already
indication of the position pver there. so that the stock in lodia is no longer a reliable
A shipment of 150,000 0x, was made from San Francisco to the Far East.
tion. The stances of prison sexularity might demand is not likely to continue rauch louger be borne, however greatly it wihated and distressed one unused to such rigours. But to the bitterness of physical toil coutinped to the extreme permitted by medical superintendence add the gratuitous mental agony of complete uselessness, Make the criminal march at the word of command into a yard in the middle of which are a number of iron or sloue weights arranged in a circle. Let him be forced to pick
On the other hand the China "bull" account hero has been almost wiped out, and any im up one, march three steps and put it down, axchanging it for another, with which he must portant increase in the export trade from that march three steps and again exchange, and
Country would cause further sales on their account to cease entirely, particularly if the continua in this way round and round the circle. until not only his back but his heart are break-price of cotton goods remains at its present
level ing. Let a warder then suddenly order him to placa ati,the weights in à straight line and continue the same march., This is shot-drill, The quite purposeless caprice of the worder may had refurments of uselessness. My pen can but bint at them.. The tread-mili, abolished
•In most civilized prisons, continues its career of hopeless unproductiveness here. It needs no description. Have you ever seed a squirrel turning a wheel in a cage? Even if you have not, you have beard the squirrel in the cage quoted as the very type of hopeless, despairing tail, tail without end, without reward, without, result, sava death. And what is to be said of those who are forced to earn their daily bread in the sad occupation of thus dealing with their fellow men? Oan of there'men is report. ed to have said "you nee wa have fril to
BREAK THEIR SPIRIT" "I
Manis. Macatta and Golddımid's Circular dated London, May 5, says
Silver has been a very quiet market, in sharp contrast to the activity of the past few wees. Although the price advanced again on 30th to 24 15761, and 25d, it has since sagged to 24 3/15, and 2411, which we quote to-day with a
steady tendency,
While buyers have not manifested much eagerness, selling has been a small scale, the offerings from America in particular being rather lighter than usual,
Early in the week. there were a few small. sales from China, but the Eastern banks do not soam disposed to follow the price down'la view of the Imminence of the export season..
Gold' was again in some demand for the Continent, but after satisfying this inquiry and the usual Indian orders, there remained about £600,000 which was secured by the Bank of England.
association, are uut entitled to their 5% com- mission; and for the same reason the consulting committee, in accordance with article 92 of the articies of association, will receive no remuneration. This year bas started batter thas last so that we bave reasonable grounds for hoping that we shall be able to come before you next year with a batter report. I have nothing to add bụi if any shareholder bas.acy questions to ask 1 shall be pleased to answer
them."
There were so questions;
The Chairman moved the adoption of the report and accaiints.
Mr. A. H. Ough seconded,
The motion was carried unanimously.
The appointment of Sir Hormasjee Mody as a member of the consulting committee was Confirmed on the motion of the Chairman, so- conded by Mr. Chapman.
Mr. E. Seth moved the re-election of Mr. Francis Maitland and Mr. W. Hutton Potts es auditora,
Mr. J. M. E. Machado seconded. Agreed.
The Chairman-That is all the business of the meeting, gentlemen. I thank you for your attendance. Dividend warrants are now ready and can be bad by your applying for them.
The meeting then ended..
CORRESPONDENCE,
TRE MEMORIAL SERVICE,
To the Editer OF THE "HonaRoxo Telzorari?
Dear Sir, esclass copy of a letter that has. reached me from the Colocial Secretary with refaience to the services held in the Cathedralon roth just in commemoration of His Late Majesty King Edward VII and if you will kindly jesort in your paper a paragraph to say how much the disposal of the Government has been appreciat 'reat-bolders' action in placing their seats at the ed, I shall feel greatly obliged.-Yours faithfully,
...
W. PATTENDEN, Hon, Secretary, St. John's Cathedral." Hoogkong, 31st May.. May. Colodial Secretary's Office,
Hongkong, 21st May, 1910, Sir, I am directed by the Officer adminis tering the Government to convey to the Church Body and especially to the Rev. Mr. Thorn bill, officiating chaplain of St. John's Cathedral, His Excelleozy's (banks for the excalleni arrangements made on the 20th instant for the services in commemoration of His late Majesty King Edward VII, and i am to add that His Excellency much appreciated the action of the sent-holders in the Cathedral in placing their scats at the disposal of the Government for the accommodation of the officers of His Majesty's civil, aaval and military service and of Foreign Consuls and others,I am, etc..
(Sd.), A. M. THOMSON,.
Colonial Secretary.
The Hon, Secretary,
Church Hody.
and then keep 'em hard at it." "Qpité, so. But In this right? I could, not but agide with the
THE cruisers Challinooga and Cleveland baya *American gentleman who started the discos
wrrived at Cavite from their long_cruise_in sion in his indignation at such a process being
China waters. The Cleveland in coromanded actually avowed. ne, part of the recognized
by Commander Hugh Redman, and the 'Chat. official system in any: British prison, - “Why”. The arrivals for the week amount to tanooga by Commander John D. McDonald, be cried, "that's what. I call torturel The law 4,517,000; this includes £3,508,000 in United Both ships expect to be ordered to the United hat'a duty to punish, but I find nowhere any Stales coln, the fast shipments of the recent States shortly. The New Orleans, commanded sanction for spirit-breaking. By what right do purchasta. The withdrawals total $530,000 in I by Commander Rodger Wells, has been report, you degrade the soul? You pul noctaions power, sovereigas für Heiland and Bripil,
ed as having joined ine dest in Ching, =¥e!!」#!"ic !=、『ནམཡཾ,
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$5,28.03 sum of $3,519.41 available for
AUDITORS.
Hongkong, 24th May, 1910, PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 1999. Dr.
Sundry Debtors
Trade
28,667.24
Sundries
5,093.82
33.761.04
La reserve for bad and
doubtful debts...... 4,980,46
28,780.58 Unexpired Fire Insurance and
Licences.......", 2,455.27.
Cash :-
In band. 2:37.41 Hongkong and Shang-
bai Banka
437.40 International Banking
Corporation
(1,400,07
14,308.88
$128,580.25,
COMMERCIAL,
WEEKLY SHARE REPORT.
Messrs. E. S. Kadopris & Co. write an 28th Reviewing the share business for the week, ult
limited and there has been some slight falling Business in local stocks han again been very
off in prices.
Rubbers The week has been a quiet one steady at the close with Pain Flue Hard Rub with small business prasing: London comes ber at to per tb.
་
Banks-Hongkong and Shanghai Banks have further weakened and business bar been done as low $940: at this price, however, there are buyers. Nationals are unchanged at $76. $177. Unions have depreciated and a few Marine Insurances-Cantons are steady at
shares are obtainable at $830. North Chinas are unchanged at Tls, to, while Yangtszes have receded to $105.
Fire Insurances-China. Fires contlane in
demand at $114 and Hongkong Fires at $3474. Shipping-Hongkong, Canton and Macao Steamboats have been offering rather freely; as low as $19, has been accepted. Indo Chinas have been somewhat erratic but a fair business both for cath and forward has been put through the market closes with sellers at $72: Shanghai quote bayers at Tis. gi and Landón is unchan ged at £6.ro Star Ferries are now quoted ex dividend at $14 for the old shares and S14 for the new ones. Douglas Steamships have been dealt in of $33. Wä understand the "Huiman" is now under Freach charter, for carrying the mails between here and Saigon. Sbell Transports have been bought from höme as high as 99f- bar at the closa can be bad cheaper.
Refineries-China Sugars have not retained
•
their position and shares are on offer at $173 after reperied sales at $173. Luzes are work at $17.
Mining.-Roubs are still on offer at $8. Headwaters again changed hands at.P. 10 and more shares are wanted.
t
Docks, Wharves, and Godowos,--Hongkong and Whampoa Docks are Inquired' for at $58- and Shanghai Docks at Tii, 177. Kowloon Wharves are a share easier with cellars at $59. Shanghai and Höngkaw-Wharves have been' sold at TIF 122.
Lands, Hotels and Buildings-Hongkong Lands can be bad at, Sior. Kowloon Landi have been sold at $10, Hongkong Hotels have been done in small lots at Siny). The new
shares are offering at 5831. Shanghai Lands have been booked at Tis. 112. Humphreys
have been dealt in at $83.
|
Yangtze river ports and there is very little · dolug in coni-freights."
Ball Tonnage Loading or to Load For Baltimors and New York. Brit, bürgen Kelipai 7,969 toas nol. reg., to load in Septembe›/· October. Brit, ship Jutropolis, 1,651 tons noli reg, to load in November/Decembar
Sail Tonnage Dleengaged -Brit." bargna Arrow, 3,971 toBs Dat. reg, arrived noth. May.
.Departure of Sailers None."
RUBBER MARKET","
ayik May! Owing to a drop in the raw material, the " rubber market generally suffered a slight set. back during the early part of the week, but at the close a steadier feeling prevail The transactions put through word on a smaller scale and at declining rates. In Singapore "/ stocks only a small business has to be record. ed, and closing rates are practically, unaltered. Para Hard Fina Rubber declined, to 'g/.
Anglo Malaya opan firm at 32/, but. been effected declined gradually to 30 at which saios have
Alagus, after sales at the early part of the sellers at 7/3 weak at 7/9, are wasted at, 7/- with probable
Carey Laitede ara qulei at 30/- prem.
Easter Interaationals found buyers at 52, 48, 47/6, 40/; and 47/6 prem, closing 54. prim. with further sples later at
with inquiries at 40/- prem.
Linggis have been dealt in at 61/^ and 62/. but there are now no buyers over 60
London Ventures have changed bands at 9/ and 8/6, closing casier at the close, with antiors at 8)-°
Merlimaus are on offer at Bf. Tangkab's improved to 39/- pram during the early part of the week but now comes Tower with probable buyers at 33/6 prem
United Serdangs were taken off the market. at 45/5,150/- and 148/., closing steady at 145/"
United Sumatras have weakened to 12 at which price they rule quiet, .
Sumatra Paras after sales at 14/3 are on offer, at :/.
Balgownics are wanted at Sio with no solfort under $22,
Changkat Serdangs have been sold $18) and 18, closing weak with sellers at $17.
Glaneslys, after smail sales at $3, are wanted, Lodragiria hava solters" at $35, with sales roned about $33.
Pajams are scady at S10
Pegobe bave been sold locally at $50, clor. ing lü demand.
Sindycrofts have agala come into favour with sales at S40.
Udited Singapores are offering at St. The Bank's closing T, T. quotations are as follows
On London Oa Shanghai.. On Singapore.........
adnoupp 1
747-
FRED, ELLIS,
H. PRICH & CO., LD.
ANNUAL MEETING.
31st it, The third ordinary annual meeting of share
bolders was held at the company's offices, 11, Qazen's Road, at 12,30 pm. to-day. There were pratent: Mr. P. Loureiro (chairman), Mir, A. Rumjahn, superintending director, Mr. Chan Kai Ming, director, Mr. A. R. Lowe, the com pany's auditor, Mr. Ellis Kadoorie, Mr. Lau Po Ving, M. Lo Tiz Chuo, Mr. Wong Kung. Yee, shareholders, and Mr. A. Charkon, sacré,
fary.
The Secretary having read the notice con. vening the meeting,
The Company is still cramped for working Capital, but its Assels having been written hown to safe values, your General Managers
Cotton Mills-Ewos arc unchanged accord. are agreeable, with the consent of the Share-ing to advice received by wire to-day, viz, Tis. dolders, to distribute $3 500 lo pay a 'dividend 130: other Northern Mills show little or an of 3%, and carry Toward $19.41 to next year.
chango, Hongkong Coltons are weak at $83 Miscellaneous.Green Islands have again The Accounts have been audited by Me sellers at $1 China Provideots bare bees been dealt in largely, the market closing with Lowe, Bingham and Matthews, Professional backed at $84, and China. Boracos at Stoj Accountants,
The Chairman said:-Gentlemen,--The re CHAN A FOOK,
Hongkong Electrics bave been sold at $10,
port and accounts having been in your hands and China Lights at $1 80 Watsons are offering G. A. 'WATKINS.
for some days and I take it that I may assume, General Managers."
at $61 after sales. At the Annual Meeting to be held on the 31st inst., a dividend of 1 per rend. It is very satisfactory to observe that as usual, that, you will not desire to have them cent, will be proposed, absorbing $17,000 and after writing of the sum of $10,000, there will showed a substantial increase over that of the your business for the period under review be a balance of 51,776 81 be carried forward. previous year and that from the commence. Dairy Forms are quite strong at Srg. Pulps
ment of this year up to this day a decided in have again been bought at $35 (Local
create over the corresponding period of last Currency). Langkats come lower at Tls, 1,429
year has taken place, I see no reason why and Shanghai Sumatras at Tls. 230...
our business should not coatísue, to develop Rubbers-There have been no important as our policy has ever been to offer our changes and only a small business has been
customers and the public generally the best effected. London Aristics have been split valus, in consequence of the passing of the into 2. shares and are quoted 16/6 buyers Liquors Ordinance our expenses have been from London. Suagei Kapars bave also been somewhat increased owing to our being com split into / shares and come 18/1 buyers pelled to keep additional sets of books and Linggis have been sold at 61/) and Anglo having a special licensed warehouse for storage 1,100.00
1,5a0.19 Malays at 29/3. In Singapore stocks there is
of datiable goods which accessitated our engag .......... 3,742.04 practically nothing to report. Changkat Serding extra clerics, etc. On agencies in Macko B14.35 angs have been negotiated at, Sto (Straits) and and Castos are also doing an increased busi
Sandycrofts at $40. Globaalys have been
ness and we hope before the year close to 5,178.03 denit in at $3.
Exchange-The Bank's selling rate on Loo places in the South, Gentlemen, before mov open up agencies or branches in two or three * 3:51941
don is 1/9 9/16 on demand. The T/T. rate $8,647.44
on Shanghai is 742.
ing the adoption of the report and statement of accanals for the year 1929 i shall be pleased to answer any question that may be put to me to the best of my ability,
To ronts, rates and telephone_*
Les rents received
3,000,00
To interest on bills payable........ To Depreciation:
Shop fittings and fixtures
at 5%....... Steam launch specially de
preciated
To loss on subsidiary coinage To legal expeDECE........
To balance as per balance sheet
Ct.
420.19
· 18.43. 1,032,91
By balance from last your .......... 1,817.55 By balance of working account... 7,003.65 By transfer lees
By Baok and loan interest -received less paid............................ REASON
50
25-74
$9,647-44 BALANCE SHEET-31ST DECEMBER, 1979. Liabilities, Capital:-
10,000 shares of $10 each fully
paid up.. Creditors:-
...$ 1,000,00 Trade creditors' accept.
auces............... 7,591.10 Open accounts... y en
16,033.64 Unclaimed dividends... .436,10 Profit and loss account
Assete
109,000.00
25,060,84 ***** 3:51941 $128,580.25
Building:-
As at rit December,
1968
........................ 517,509.24 Less building deprecia. tion reserve a/c, as per balance sheet December,
·
at 31 1900
17,309 24
Furniture and Fixtures
As per balance beet al
31st Dec. 1958...... 8,493.92 Less depreciation 5% written off......
420.19
7,983.73 57.65
Additions during the
year
Acrated Water Plant:-
As per balance sheet at grst Dec.
Steam Launch "Watkins" Cost to date..UFFEDERICO Less amount'written off
as depreciation..... 1,100,00 Stock on hand (sterling at
3,100,00
1/9 9/16) 'intimemes 69,194:24. Læsi reserve au perlust...;
ACCOURIERTUSS
10,000,00
8,041.38
3,000,00
2,000.00
'PREIGHT Market.
Messia. Lamke and Rogge write la their fortnightly circular of 28th May Since istue of our last freight report dated 14th instant, there has been little or no change in freight market conditions, and chartering was light throughout, the fortnight. The offerings of tonpage are limited, rates are strongly support. ad at the basis of recent fixtures, and, in some ;Instances, advances, ara rècorded.
Saigon to Hongkong.-Rates have again advanced to 21 cents, and at the clore there is A noticeable improvement in the demoed for tonnage and an increased activity is expected shortly in this direction.
There being no questions,
The Chairman moved the adoption of the report and accounts
Mr. Ellis Kadoorie.seconded, Carried,
The Chairman -1 think that is all the busi mass before you. I thank you for your attend.
DCC
The meeting then concluded.
The report is as follows:-"
The directors have the pleasure to submit their report and statement of accounts for the year ended 31st December, 1909..
The net profit for the period amounts to
Saigon to North-No fresh fixtures are re-$13,064,07 to which bas to be added the balance poited. A good deal of rice is belog shipped by regular liners in small lots from here.
Saigon to Java-A fixture has been done locally, terms are kept private,
Salgon to Philippines.-There are nonte fresh order in the market, and demand for fairly prompt, was filled by the charters of a few boats at 37 capts for part cargoes of 25,000 piculs,
+
Bangkok-Cargo continues plentiful, but there is no immediate prospect of higher rates, Another charter is an record, the si, Marie at 771/20) cents per picul.
Newchwang to Amoy. The s.a. Holstein hai been taken up for another trip at a slightly improved rate,
Coal Freights from Japan ara steady. Bail
maas was done is following directions-
Moji to Hoogloog $1, Karaizu to Hongkong Sz, Wakamatza/Swatow. Sz. 45, Newchwang/ Canton 13, and Bongay/Hongkong at $1.80 per too.
Time-charter.The Nor, as. Prometheus for- marly engaged on the Bangkok/Họngkong ran has been chartered for 3 months at $6,103 ta carry cattle, and the s.r. Solited is again taken up la con:ĺnuation of present charter for the samo trade for a term of 3/3 modibs at 25,750 per month,
brought forward from 1908, $670.80, leaving $24,334.87 at the credit of profit and loss account, which the directors propose appro- priating as follows:-
To pay a dividend at the rate of
per annum for the year, viz-$1.40 per share on 13,000 sbarer, absorbing............$16,800,00 To write off godown account. To carry forward to next account 1,913.87
5,613.00
574,334.87
In addition to the above amount of $56.00 which the directors propose writing off against goodwill, they propose with your permission to funber write down this account to $50,000.00 by transferring the amount at credit of special reserve, $5,000.
The accounts have been audited by Messrs; Lowe, Bingham & Matthews,
P. LOUREIRO, Hongkong, roth May, 1910.
Chainman.
RAUB GOLD MINE: ***
The following in the result of crushing operations at Raub for the four weeks, anding XII inst
Concerning Northern fraights, Messrs. Wheelock and Co, Shanghai, raport in their circular padar date of 19th May:-"Since last
Bukit Koman,Blous crushed 2,0st tonaj. wilting, a few more varicle have, bean talen up on a "time charter" basis, and there is now Gold obtained 1,150 ounces) Average per ton practically po looks tonnagu'working employ. - 7.85 detsamma bunga ket ment, at the same time the demand has also | Bakit Malacca-Stone crushed 421 fazıl subsided somewkas as the Natira Authorities Gold obtained 95 ounces'; Avarare
· have stopped sil the export of cereale from the 625 đạt,
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