269
HONGKONG, CANTON & MACAO STRAMBOA! CO., LTD.
HALF-YEARLY MEETING
W
9th fast.
THE HONGKONG TELEGRAPH
VICTORIA RECREATION CLUB.
NIGHT.FETE.
BANKS AND RUBBER SHARES,
REFUSAL TO ACCEPT AS COLLATERAL
BECCRITY, 1
SATURDAY, AUGUST 13 1010
REMOVAL OF THE QURUR.
BULLION
Messrs. Sampol, Mastague, & dog's circular dated July zath contains the following im
Gold. About £700,000 arrived in bar gold/ the bulk of which was purchased on AmINDICAR account; the remainder was thien brithe Onsd floent and India (170,000)) up to the prosant
Tho. V.R.C." hold their first night têis this season on Saturday night in their opw bah before a large gathering of spectators secludiek Hog of shareholdere in the Hongkong, Cuntoniany ladies. The programme was ka atıraca krechivad -à-goumber of protests from kinders on the following,subject. That as changes of | climus Chinese ar föreg national costu• all the bar gold secured on account of New.
five one and was brought off quite successfully, Some of the racing was very good especiallyhares when these securities are tendered us | vicissitudas, in, order. 1a calm the people's the globe, with their entries, on the face of York last work has not basa skippado the Light and Four Lengths, The former was won by Tommy Logan, who swam la grand style. In the Fear Lengths, R. Mooney woo by only's touch.
The eighty sighth ordinary half yearly ment and Macao S combast Co., Ltd., was held at the office of the company, Hotel Mansions, at noon to-day, for the purpose of receiving a ra port of the directors, topether with a statement of accounts, drelating sidwi rod qfi uơng the appointment of directors; and elecurg directors and auditors. Mr. R. Shewan (cbait. man of directora) presided. Those wero uiso
present-Mesir, H. A. Slebs, J. W. Dandow,
A. Gomar, F. H. Armstrong, C, H. Ross, F. Lieb (directers). J. M. E. Machado, A. H. M. da Silva, A. Turner, L. A. Stanton, Obad Slu-ki, K von Wiser, M. S. Northcate, A. O'D. Gour dia, A. Denison, T. F. Hough, Fernandes, D. D. Gazdar, and John Arnold (act ng secretary). The Acting Secretary having read the notice of the meating,
Following are lacresults of different aveolst- 1-Two Lengiba lfandicap.
First Heat.
To the course of the past few wkoks va have who could understand the dittade of their bankers with regard to Plantation Rubbar collateral fer advances la certain lostsocer, we galare from our contrapandan's remark*, advaners have been tauled, bat bez ily as very wide margins, and the shared this plecs ked have taukad as first class securities in the Plantation Rubber Share Markel, Similar securities, however, hava baen wholly declined satisfactory, collateral by other banks, and
The Back of Bagland, received 10,000 in sovereigns from Australik on the ých lastanaj this represents the total influx for tha woskie
Obly the above two started för this boat and there is no question chai thu gandra altitud loyalty and patriosism for their Sovereiga'and object of darisloo to foreigners. Memorialist premium for prompt delivery rose to 3d, on thei
Je A. i. Alves (Owas a IEG; } vị đa JM Roza Perolca (owes 5 secs.) 2 Alves came in an easy winner. Time: 37
secs.
Second. Heat.
4/5
R. A. Carvalho (vres 3 s803.) ana kal:{ C. H. Lyson (owOS 5 SECE.) ............. 2 This heat produced a very close finish, and Carvalho managed to win by a toncu. Time: 36 1/5 BOTH.
Third Host,
↑
Za me
.
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country. But eight or nine tenths of them had
*Moreover, if a measuro has any insignificant 'point in ita favour it may be harmless to tolerate ità exituence, but as to the queue Intriuscially, H, WU TING;FANG'S MEMORIAL it meltker serves any useful purpose mor, out|·
wardly, does it conduce to elegant appearance, Wu Ting-lang, Minister to the United States, No grounds of justification can be found in Its Mexico, Peru and Cuba, presents a memorial favour at any time, ancient or modern, in any
Notwithstanding the fact camoms take place la the world, it is neesstavy to consider circumstances in accordance with taan vary in different
'cus'oms, there is no great dissimilarity, ambay them, but the nation that 1,5 tits and protect their interests
Memorialist baving
baving been appointed Mialster has a queue is China alone, die WWE to the American continent, proceeded to Pero,
It has been said that loafijutions and Mora, Mexico and Cuba ty present bis credentials and ture may be changed. Here is now a thing of on his way through the ports in C1-tat and adormant unconnected with the great plans South America he received and interviewed their affairs of the Government, and it is being Chinese residents and discovered their sincere preserved with the utmost vigour to afford an cannot see any wirdam in this action. Is his humble opinion Memorialst observes that since European civilization has travelled East, thore are lubabitants in the interior, with the exception of officials and geatry, be they students, schol- ars, mechanics, traders, marchants or farmers, who have cut off their long hair, la order to are greater convenience in living. Being nationals of the same country and residing in the same empire, bero are people with different cicut states Ohu and Yush. This state of affairs must be seldom heard of and must also be a surprise to students of cations and folklore.
adopt this change will be ever on the increase, so that no law or prohibition, however strict would suffice to prevant f; and, reform or no reform, the chango masi inevitably comel
To suffer the change run its natural
not be batter to adopt the change and would it not be betterit in hardly perceptible, thereby rouse the reform spirit of those above and below? Memorialis feals that the Govern give. It has been said by: Kaza Tze (ancient statesmen)" whatever is desired to the populace, grant it; what is despised by the populace be rid of tt,”".
Silver. The stringency in delivary to which wo inferred a week became intensified; so much so that it could be described out as a corner, into which the market and been gineered by the Indian speculative group. The Stb instant to fd, on the rath Instant, then. gradually sased to yesterday and to dara So large a premium as Já, has not benny quoted on cash silver since January 29, frog, and then for quite a different reason they Indian Government had been making heavyi purchases which obviously peared complation.. Anxiety to profit by the high prica", paid by the Government brought about an actual short- aga on this side; but the storage of one or two from the market, stamps the prosect situation" As artificial.
The effect of the squeeze on the price of spotr gih instant and reth instant; thin in the highis price for over two years, namely, since March 20, 1908,
of our leading Southern joint slack institutions diverted themselves of their quauss; those towards such abares when thus lendered bas who had not followed salt coiled theirs on the given rise to a considerable amount of unnaal top of their bends, secrating them guardedly mass in the minds of many Rubbar investors..
and keeping them from common knowledge. 'These shareholders argos, pot uknaturally,
Memorialist felt that the national costume it seems to as, that the shares in a well managed path of the goverment intention and plantation company which is producing a highly should have been most reverently conformed profitable commodity and is paying handsome with, so as not to breed divergent practices. dividends ought in be regarded, when tendered as bakers' collateral, as at least of equal stand. He repeatedly admonished the Chinese resid log with the average home Industrial shere onts to such effict, but they all replied with costumes, distinguishable as those of the anmolitions of actual silver deliberately withhaJI
one accord tha they bad been frequently and, in reality, better security, from a bank's macked by foreigners for hanging down their sinodpaint, than many of the latter. With this
beca applied to them. Again, they had been Accord, and we have been assured that when teased by women and children for this append. managers agree to accept such high-grade age; and its inconvenience for work, added to Rubber shares they do so more on theit koow its soiling the clothes, was open to mach un ledge of the customer's general financial position (which it may safely be assumed it favourable criticism and objection... sound) than on his collateral. Indeed, would not be so easy matter at the present juncture to find many bankers who look upon Rubber shares at other thin highly speculative, and ever be placed in a mose, hancurable category,
In addition we have, bad increased competition finish. Barretto, the limit map, held the load view the great majority of banks are not in queues, and opprobrious epithets had also With the spread of new ideas the number who xilver was to rains the quotatlan, to arson tha
The Chairman said-Gentlemap,- per 'sume that, in dccordance with the accepted practice, theeport and accounts will be taken As read. The present position of the Company is so clearly, set forth herein that it is unneces sary for me to detale you with many remarks. Like most other local enterprises1bis Company has suffered from the general dullness of trade; to contend with on all the fines occupied by our steamers during the period under review. 1, am glad to be able to store that after prolonged negotiations an arrangement was coma, to at the end of Jane with the Chinese and foreign-owned steamers surning between Hongkong and Canica. Since the formating of this agreement our earnings on this line have shown a macked improvement, and it has the heavy annual outlay se repairs to the bollers of the ss. Heun, akan yaar Dincon, actlog on the advice of exparts, have derned it prudent to replace the present boilers with others of improved and more modern typo. Tenders having been lovited the or- der for the constraction of the boilers was
J. M. C. Lopes (owas, is racs.) E J. O. Barteko ("gu") Five competitors faced the starter in this heat, and a good race was witonased till the almo's to the finish whee Lopes overtook him. ans won by half a yard. Time: 35 secs..
2.Eight.Lengths.—Scrutch,
T, Logao...un pisanim non 3 A. A. Claxtou C. J. Cookt...
*
The corner had been rendered p
practicable some two months back to the extent o
bear sales of forward
million sterling.
worked bencâciúily for all panties. In view of the first lap was covered it was seen that many appear to djubi whether such states will I unfold, their minds and explaid the fact that I ment must 'sometimes Ake and at other times the coure of business as a kedyo against ex:)
This was the eveal of the night and created a lot of excitement throughout the race. All thien cmpetitors had an even stadt and when
Legan had a slight lead warb the other swimmers close bobind. This want a for tha first six lapa:"When the seventh lip was on, the swimmers were still going" sitong, and' at ite fion stage the issue was keenly contesteid with Logan, still in the lead, and Claxton com ing up strong. The former held his lead till the finish and won a grand race, with Claxton a couple of yards behind, Cooke full bad
Time: 3 mio. 36 secs. ' 3.-Final Two Lengths.
J. A. S. Alves (owes a secs.),
J. M. C. Lopes (owes 5 secs,) R. A. Carvalbo (ones 3 C) This was biso angiodracé, Alves won by a yard from Lopes and Carvalho. The
placed with the Hongkong and Whampoa Dock Company. The cost of these boilers about $50,000 will appear in the next balf-third, year's working account. The Company's ini vestments, I am pleased to say, are in a satis factory condition. All our mortgages with one exception, which 'we nie, however, about to foreclose, show ample margins on the respec tive loans. As customary the properne, mori- gaged to the Company have been surveyed add re-valued by Messrs. Palmer apdi. Tuizer. Foods in Public Companies, as usual, have beso, a justed. jo accordance with the quo- tations current on 30th June, by, the tran...... Tör öl $14,780.30 from Investment. Fluctua- tion Account. The loss by shudiary silver during the past six months' working amounéd to $18,17,18. i may say the coucht half year has opened encouragingly and 1 trust when we mant again we shall be, able to show na im. provement on the result of the past six montha' working.
I do not think there is anythit more which calls for explanation, so uales5 there are any questions to be answered 1 will propose the adoption of the Report and Ac: counts as presented.
There being no questions the Chairman moved the adoption of the report and accounts. Mr. A. H.,M. da Silva-Mr. Chairman, Before accouding, the adoption of the report and accounts, I beg leave to say, a few words. I am almost sure that she shareholders of this Company are quite pleased with the result of the half-year's account, id that, in spite of thebad time and depressed state of trade, the Directors, weis able to present such a satisfac tory report. I believe the Company has never been in so prosperous and sound a position,
which is a credit to the Directers. I therefore wish to congratulate and thank them, also the actlog secretary and the skiff jo genial for the co-cperation they have given in the interests of the shareholders.. I wish also to show our ap· preciation of the services rendered the Act.
by log Secretary, Mr. Arnold, who has site con. tributed very much towards the welfare of the Company. With those few remarks, I have much pleasure in seconding the adoption "bl the report and accuasis as presented.
The motion was carried unanimously. Mr. A. Turder moved the roofirmation of the appalotment of Messrs F. H. Armstrong and . H. Ross as directors.
Mr. A. O'D. Gourdin seconded. Agreed.
The re-election of Messrs. H. A. Siebs, and J. W Bandow to the Board was a reed to ne the motion of Mr. Stanton seconded by Mr. Nonhcole.
Mr.. Chau Siu-ki moved and Mr. Machado seconded that Meases A. O'D. Gourdin and W. Hutton Potts bs re-elected auditors.
·Carried usinimously.
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two latter came, in deat heat for second place.
Time: 37 #/5 sec.
4-Costume Race.
AR. Ellis (Fashions for All") ... t This event creates a lot of fun three ettered, F. K. Tats in the costume of a * Husar,” F.-B, Silva, a "Stage Irishman" had "A R. Ellis "Fashions for All." The wia- ner's costume evoked a lot of laughter from the Lidies. Although Silva came in first on the swim uf, the prize was awarded to Elli far
the best costume.
Fnar Lengths Handicap. R Mooney "Go"
F. L. Rez (wes 15 seck)
2
Money managed to win the race by a touch. Rezi was second with Petersen a close third. Time : 1 mjú, a8 secs,
6-Life Saving Race.
J. M. Reza Pereira
E. L. Brags
A. R Eliis
S.A. Lopes {
7.-Time Race.
}
I
A. J. Mackie,................. The time allowed the competitors waS À hundred seconds which was exactly the time
covered by Mackie..
8-Team Race.
A. V, Barros (capt), A. H. Carroll, à. J. V. Ribeiro, W.J. Carroll, A. R. Ellis, E. M. U. Remedios, R. Mooney....
...
11. WV. Petersen (cap.), C... Lyson, A. 5. Lopts, J. M. C. Lopes, J. A. S. Alves,
A. J. Mackie, . C. Barretton, F.. Roz (cap'), J, M. Roz »-Pereira, L. G. Conteiro, R. A. Carvalho, D. J. White, I. E. Chuayu and M. A. R. SouZ3.... Bairos team won easily, 9-Water Polo.
#
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▸
Bes-A. H. Carroll (cap.), I. E. Chunyul A, V. Barros, H. W. Petersen, R. A. Carvalho,
F. K.Tata and A, S. Ellis.
AN EXTREME· ATTITUDE, `
.
This, we think, is taking not only an extrame but a quite unjustifiable sttitude towards a very farge rumber of Plantation Rubber shares, and we feel sure that any banker who has done as the honour to give the matter consideration in the light of the countless facta regarding iba development of the plantation industry which have appeared in these columns during the past few years cannot fail to conceda that our view is far from unreasonable. It would ba absurd to urge the claims of ionamerible Rub.
They further stated that id the many factorios and mills numerous instances of dangers caused by the queue had been board of, and in view of these circumstances, they felt compelled to they had not wilfully disobeyed orders. They solicited Memorialist to report to the Throne and to pray for the issue of an Edic, permitting officials, merchants, scholars and the common people to cut off the long hair and change to a western costume, so 41 to be in lins with people of other countries and thus avoid discrimina tion. This would further obviate any difficulty raised by their fathers and elders against their change when they return to Caine. They hoped thus to midifest their patriotism for their fatherland.
Memorialist prays for the Emperor's an- lightened decision and for a Dectos to be issued, permitting officials, merchants, scholars and the plebsinas to crop their long hair. The costumie should remain as hitherto, In this change uniformity and reform lie in but the one, not the other, Respectful and worthy
characters would than feel that China has her own institutions and would not be carried away this would confer a benefit both on internal
and foreign affairs.
Those sales were not speculativa In the ordinary sense of the word, hot were made in change, and similar sales have been, on, many previous occasions, bought la or carried forward when due, without appreciable 'dister- bance of values. "But, in this case, these for- ward offerings had been bought up, plus all surplus silver ready for delivery, the actual. silver was locked up, and the sellers, when their sales matured, found that they had been rought napping, and had to pay anything from a to 4 par cent for the purpose of meating their obligations.
ber shares to be regarded as satisfactory colla quonion and finds the circumstances set forth with the tide of foreign ideas, It appears that I by the group responsible for the corner, who
teral as such shares stand at the preschi moment, and we can readily understand re: fusals on the part of bank minagers slider them in a number of instances brought under our notice by more or less indignant readers. To expect a bank to grant anything resembling a reason ble advance upon shares which, although fully paid, are unquoted officially on the London or any provlacial Stock Exchange, would be to expect too much, not only of a biokor, but of human natera. Further, it is well for customers who, by some strange perversion of reasonlog, regard such request to backers as business to remember that it is within the right of the prospective leader to zay whether or no the proposed transaction is agreeable to him.
Memorialist has carefully pondered over the
by the colonists bald facts, He ventures to think that the long bair may, with advantage, be cropped, but the costume should by no us be changed. Co the human body the hair is the least useful. De finds that in Europe a century ngo, men's hair was done up as is now the practice in China, but that owing so general tendency in the realme the men have since cut their hair short, as otherwise convenience in
intercourse and work cannot be obtained; and the practice has become habit. *
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Momstialist has received favours from the Throan and farther is charged with diplomatic doties. In his study ofconditions in the different countries he dares mot remain unconcerned and silent on what has come to his mind. He praye that the matter may be referred to the Govern neat Council for discussion and adoption emorialist's abject is to preserva lastitutions and reorganiza regulations. He is ignorant whether bis views are right and humbly prays for the Emperor's perusal and commade,
The above memorial was submitted in the
10th month, last year, from America.-N, C.
News.
In recent years, with extended communica tion, Memorialist has seen Chinese traders, travellers and students seat from different pro vinces for studies all cut their hair and change their costumes, in order to cultivato intercourse. with foreign officials, merchants, scholars and people. So much so that the practice is assimi- lated and in recent years it has been on the arcendant, adopted by the majority. The cause is that they dare not appair different fom others with their hair hanging down.
Those
PM,'& T.KK. RELATIONS, ·.
NEW STEAMERS - WILL REPLACE "CHINA" AND "ASIA."
11
Alleged breach of what ? said Mr. Schwerin. There has bece no breach of contract shat i am aware of.
ENBARRASSED HOLDERS, There are doubtless many Rubber lavestors: ut the present moment who have allowed their enthusiasm to outrun their discretion, or, rather to have prevented them keeping a strict watch
who visit Europe adopt European customs, Clad in a grey twéed suit, waiting a′′panama on their financial positions. In the result, they while travellers to the American continent bat and smoking a cigar Mr. R. P. Schwerin, find themselvei holders, on a more or less ex
President of the Pacific Mail Steamship Chm- admire American Institutipos, so that they un tensivo scale, of shares which from some cause hesitatingly discard even the Chinese costume,pany, sat on the pisera of the Grand Hois!, or apother are unmarketable, and, from the fact elegant and refined, long admired by foreigners Yorohama, conversing with Mr. B. G. Moward, that most of such issues are not yet fally paid Memorialist finds, that the Chinese costume the agent of the Company in lepas, As Mr. or have not obtained a Stock Exchange settle- dates from ancient times and attalos pre-emin. | Schwerin was leaving the piezzi a representas meat, are valueless as collateral. It is, however, Pauen in the reigning draan y.” With this wrap. tive of the Advert ear stepped forward and highly probable that such individuals. liave pers, close garmen.s, short sleeves and long desired a little information in respect to the among their holdings a fair percentage of the breeches, it ensures a variety to sui all seasons alleged breach of contract of the Pacific Mail older Rubber issues, which are not only fully and affords convenience in dressing. Com with the Toyo Kinto Kaichs, paid, but represent planting enterprises thathavepared with the starched collars, slitt sleaves, been, producers for some years, carolog and leather boots and silk hats of foreigners the dif. payiok good and always Improving dividends, ference in simplicity and elegance is most mark and are quoted on the Stock Exchange it ed. Furthermore, foreiga clothing is costly would seem reasonable under such circum- and must be replaced after a year. Each suit stances that a min might with confidence costs many tools and formi-an item of great ex- approach his bankora with the object of rais pense. The Governmeal places its wealth ing money on these latter shares, in order that
among the people and can ill allow it to be im bo might meet unpaid calls due, or to provide perceptibly sapped away. Take the instance against such calls lu the immediate falute. The of the reform in Japan, though she adopted for. margin, however, which the banks willing 10 elga institutions, stress was laid upon them for entertain such a proposal at all insist on is 10 diplomatic intercourse.. find the advance insufficient for his needs. It large that the average shareholder is liable to may be argued, of course, that no man ought to have allowed himself to get into such a position-but it is easy to be wise after the As one result of this disinclination of banks to accept Rubber shares as collateral, the pros. has been appreciably increased, while not a sure to sell the newer and less-known shares little of the realising of the easily marketable issues has been due to the necessity, on the part of otherwise firm holders, of providing themselves with ready cash.-Siraits Times.
Whites.-C. I. Cooke (capt.), J. M. Rozi Pereira, F. L. Rozi, G. A. C. Rodrigues, A. J. V. Ribeiro, J. M. C, Lopes and M. A. B. Souz.event.
The late concluded with a water polo match, between Blue and Whites. The game was a very fast and exciting one. In the fist kalf the Uues registered a goal the honour of which fell to Chunyat. The Walies made many attempts 1.10 equalise, but naihing resulted. In the second The Chairman:-That concludes the basi
half play was very even, and the Blues added ness of the meeting, Gentlemen. Dividend other point to their credit with the help Warrants and now trady and may be rhtsidedut etersen. At the latter stage of the game upon application. Thank you for your allend- Cooke-sant.in-many stingera; which Thia made nn besitation in saving, and later on ho bad the asme opportunity and scored the last goal of the game forthe Whites. Thus the Bluss won by 2 goals to one
Lace,
THE PSARIN BADJEK”.
BOLD TO CHINESE,
The sir. Saris Bewijer ortive at Shangbai from Hoogkong on August, ned as the result of negotiations through Messi, J. Koopt and Co,, general brokers, etc, has changed ownership. The vessel which was owned by the Datch firm of Hondel and cheepy. Maxta Banjer, has been purchased by the Shanibing S.S. Co. for trade between Shanghai and...ca- chwang. The Sarte Banffer is a steel screw steamer, gross toppage 1,237 and we'r 767 100s. She was built in 1895 at Kinghorn, by Mestis, J. Scott and Co. Her longth is 198 b.; beam 32-ft, and draught 13.1. The price of the sale has not been disclosed.
DEATH OF MR, B. B. SKOTTOW",
:1
LATE MANAGER OF CHARTERED BANK
OF 1., A. AND CHINA,
1
At the conclusion of the sports the prizes were presented to the successful winners by The Chairman of the Club, MN A. Rodger, and the proceedings ended with three ringing cheers and a "liger "for the Ladies, the Chair-
mau and the hop, secretary,
We understand the next night féle will take place od Saturday, the zoch löst., at 9 p.m.
SHIPPING IN THE FIFTIES,
AT BHANGHAI,
In the course of ap sticla entitled "A R-uospect of sixty Yours," specially written for the diamond Jubilee supplement of the North China Heräld, Mr. G. Launing has this
ngo Thirteen vessels were in port and t
SEARCH. FOR OPIUM.
CHINESE CREW'S QUARTERS OVERHAULED.
An effort to fight the op'um traffic to a finish, the treasury department has ordered the customs inspectors here to seize every scrap, to the smallest pill, of opium that they can find to the quarters of the Chinese crews of the oriental liners; reports the S. F. Call of roth ult: The order was carried out for the fi time yesterday on the Japanese liner Chip Afars and the Pacific Mail liver Manchuria, and it is doubifal if the commits of the Celestial victims could be translated into Eng. liab that would be allowed to pass through the Volted States maily,
When Memorialist went to Japan jo company on a mission, he met theofficials and gentry, and Ito and others in their everyday life, still pre- served the ordinary costume, but merely crop. ped the tuft of hair. Their broad sleeves and the wooden shoes are worn til this day. To cut the hair galos but an empty name, but the benefits, and this is a most important step is preservation of the costume would retain actual considering all the pros and cons in the question.
Some raise the objection that, in cutting off the hair, one le forgetting oneself and pander ing-to-others-tasias,-dograding—ourself-and- flattering foreigners, so that it would affect the people's loyalty and patriotism. They are not aware that the queue and bair are mere forme, while loyalty and patriotism are spirit. Great benevolence and faveurs have been bestowed by the Gorerament on the people for neatly three hundred years, and the people's love and gratitude parracate their. whole bodies. No boundaries ought to affect these feelings. With the queue and hair, or without, those seati ments should remain unaltered. It is spiritual loyalty and patriotiam.
Memorialist has observed the many hundreds of thousands of over-sca residects, and though these have cut their bair or adapted foreign costumes and speak forelgo toogues, their sincere loyalty for the Sovereign and his country is na less than that of the inhabit anly in the interior. As an illustration, since The majarity of the Chinese employed on the the hair has been cut and the costume chaDE: trans-Pacific 1ners use oplum. When the Chled in Japso, the Japanese loyalty to their nese fireman comes up from the stokebols the sovereign and Government has not changed Gist me he makes of his watch below is to roll
·Bat the San Francise 3 Chronicle naid— You mean San Francisco Call interjected Mr. Schwerin. That paper is always trying to get a rap at me. We are not futuds, and they don't let an opportunity piss of hittlag me in some way or the other. In fact, I do not take much notice of what they say one way or the other.
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To bring about this stringency large specul. alive ritka have been taken, and are still borne
have not unloaded any of their huge holding, * To cope successfully with the situation then-*- created a favourable market must be swalted, and, if that be practicable, there remains the delicato operation of feeding the demand rapid ly without provoking a fall to prices.
A considerable amount of silver has been sold in Bombay on China account,
The accumulation of silver in the indian Treasury continues to increase and has gone up 1 crores during the last fortnight. "The daily off take in Bombay is only 3; bats. The stock there merely shows a reduction of 200. bars, and will increase by two shipments on the way to the extent of 6,400 bars,
Meanwhile official news as to the Monsoon' in India continues to be satisfactory. Though the talas are likely to be less steady than usumi, there appears to be so cause to expect a large excess or deficit in the total amount,
in Bombay City itself the ralofall has been exceptionally heavy. During the night of Jans 22 twelve luches of rain fell in twelve houƒs="k racord shower bath even for that city,
The quotations to-day for cash and two mos ara respectively 1/ 6 below and 1/16 about those quoted a week ago.
Mostra Mocatts and Goldscmid's "clicular dated London, July 15, says:
The demand for cash silver maalloned in our difference widened to as much as id. p. oz. on last has continued during the past week and ike
the 11th instant when a large number of boars had to settle their commitments, Since the premium on cash rapidly declined being as little as 3. p. oz, on the 13th and 14th, though today it has again widened, the quotations being 15 p. oz. for cash and 247 p. oz. for two
months forward.
These large differences which have had to be met by operators, many of whom had sold
bears as a hedge against China exchange And other transactions will probably tand to restrict business as operators will not care to
But surely you must have beard of the ra moured combine between the Tayo Kisen Kal-face the risk of being in a similar predicament sha and the Western Pacific Company? Is there nothing is that?
Of course I have beard of it. These rumours
have been flying for the past three years.
And you think thère is nothing to them? Os the contrary. The arrangement between the Pacific Mail and the Toyo Kisen Kaisha was mida in 1898 at the asking of the Japanese comply. They wanted to get into Sag Francisco and they did not wast to fight for it, thus the arrangement was made. Kisen Kaisha and the Western Pacific prova Bat if the amoura relating to the Toye to be true will it noi mean that there must be a split between your company and Toyo Kisan Kalska?
Isuppase it will, but our arrangement calls for sixty or ainety days' notice I don't re- member which-and that notice has not been given in yo!..
Then those two steamers which It Is reported you are building, what of them?
They are to take the place of the Cking and the Asis, both of which are too small for the trade.
sgain. It was, however, only the natural ont- come of the policy of the balls, wäu hava bean taking up their purchases instead of carrying them over in the market-s policy to.which ma made reference three weeks ago.
China took advantage of the high prices to sell freely in Bombay. The stocks in ibu latter place are practically unchanged at about 8,800 bars but they will be soon swollen by large and London, The up-country demend remains shipments now on the way both from Chips
speculative purposes is very limited all the small and the inquiry for silver for other than world over at present, but as long as the chief operators pursue their present policy we may expect a continuance of the conditions pow ruling,
Gold has been in demand both for America
and the Continent and all arrivals have been taken for export. At the Bank of England 10,000 has been received in sovereigns: and there bave been no withdrawals.
AN ECHO OF THE WAR, What will become of these two boats than the House of Commons on July 24, Mr. the. Chish add the Arta?
Bowles asked the Forafga Secretary whether ha had now received Jaformation respecting!
war with Japan in 1934-5. In sinking the Kaight the acts contrary to the law of nation.com. mitted by the Russian naval forces during the
the Oldhamis, and thus destroying the most Commander and the Hifting, and in burning all ridance for the Prize Count and whether His Majesty's Government still, pra- Posed to submit to theen acte without insisting Sir E. Grays I am waiting to receive the full text of the judgment on the last of thers caser outstanding, expect to receive this soon! od shall then cosider what further com munication should be made to the Russian Government respecting them. I must, how- evar, point out that as long as the difference of opinion which was disclosed at the Hagas Condi ference of 1907 exists amongst nations respect Ing the sinking of neutral prisen by hulligerents, and as long as the final decision in such cases: rasts with the prizs counts of the belligerent Power, there will be constant risk of such cases. recurring with repetition of the same difficulty: in settling them.
The China willin all probability go on to the has always been a meat popular vessel, and the raa between Honolulu and the mainland. She
cland suring for a direct service with San Fran- people at Houolu'u bave for a long time beau cisco. You see, by very little alteration-by doing away with the Oriental steerage. It will be posible to make room for fifty or sixty mors passengers on the Chins and by the use of old 10 say concerning Shangbaí shipping 60 years and cook a pillar two and forget his troubles from that before the reform, bat has, on the fuel she will be able to maintain an averaga "pon dus zeparation,
speed of seventeen kaolu an hour. The boat is Wossung, and their total capacity roached in a series of poppy dreams. Enth the Pacific other hand, tecreased,
Formal refarms must take place before spiriia excellent condition, her Lull is just as good $.417 tons, about 417 tons each on an aver-
Mail company and the Toro Kisen Krisba
be made, now as on the day she was launched. We (N.G.D, Naus) regret to have to announce age, is the number was included the first trad. provide opiam deas for the use of their Asiatic Neither would it be of avail to neglect to aim
tual progress can be expected the death in England of Mr. E. D. Skottowe, ing steamer, the F. & O. str. Lady Mary Wood, Craws and Celestini passengers. It has been
Then as far as you know nothing definite has formerly Manager of the Shanghai Branch at
the custom for the inspectors to keep their at the spirit, and only seek to preserva forms. been decided upon either way? the Chartered Bank of India, Australia and bat history of the time. She could boast of no
which figures very prominently in the Sha&inds off this personal supply; which seldom Others again advance the argument that the I know just, as much as you do, waid Mr, China, Mr. Skottowe had barn in a bid state more than 650 tons. How she usually lay at
amodated to more than a few tips and the queue and bair belag forms, their removal Schwerin, and with that the interview, ended. of health ever since be left. Shanghai in Feb. Woolung; how the was connected with tome oplum raiding has not interfered with this little would naturally be formality. They fail to perceive that spiritual measura must be stimp.
AN OPIUM CONFERENCE, ary, 1908, and litle hops had been entertained of the smuggling occurrences, we can hardly indulgence on the ships. of his complete recovery; but the news of his | ca'l them scandals, of the day; how, when sha The order of the treasury department fated and encouraged before they become ap death, which was recolved by telègiam, from wasilis only reliable link between the com- was entrusted to be searching force to parent, Anything, therefore, to stimulate and
The united states' profobals." London, wil come, nevertheless, as a shock to mucity and Hongkong, the owneir thraulened carry out and they made a good job of sacourage such measures though formal is many, Mr. Skottowe wis born in the Isle of Man, to withdraw her unless they got a subsidy of it on the Chiyo and Manchuria. The opium really spiritual, any it is the spirit of spirits. zed served, his first apprenticeship to banking 35,000 a month; how residents might start in smokers among the crews of both ships could When the Wo Ling Prince of Chao rode and with abo Douglas branch of the City of her on their way home vi Egypt for a slaglo
be spotted by the smiles they didn't wear and hunted in a barbarian (foreign) costuma his Glasgow Bank. He came to the East in 188
tue of something over 100, and considerably the flow of apparently torrid conversation that action, should not have been looked upon a as a member of the Chartered Bank at Shang. I more than double for a cabin för man and wild | them were gathered together. Eaforced ab: The reason China, has adopted reforms for ready before Nayember?
was torped 10010 whatever two or three of formal, pa it consisted of the issue of spirit. hal and ria 189;, became Manager. His name | all these are things which can but be men- will always be remembered in Shanghai ar battioned." One Ilitie faci concerning trade may stinence from opium has a serious effect scores of years and not acccomplished success
The United States' draft "proposals consist | Harbour Notification which appears in the of fourteen articles. They include uniform || Shangkat papers in which notice is given that, sometimes on victim of the habit and the may be attributed to perfunctory efforts and officials of the companies at this port are pro- dilatoriness.
laws for the control of the distribution of on or ahqui ike rõ:h instant the present bdby paring for trouble.
Therefore, if a Decise be issued, fixing a oplum and its derivatives; reciprocal right and light-bosts marking the fairway of thes Os the liner álan huria, where a much larger period for the cutting off of the hair, and the off searching vessels suspected of carry. Attes Channel will be replaced by locanda son number of Chinese is employed, the effect of habit of hundreds of years, a root of easily log contraband; prohibition of the poppy cost as-buy allowing accolting lighing habit taking away the opium is even more apparent eradicated, were ence absodoned, to show the in countries which do not at present new arrangement should prove a great boon for inader. The secretary of the treataty, however, out the length and breadth of the Emple tries, desining to enforce prohibitions com powodel than the present, but belus pocul Teo than on the Chiys, and the chorus of protest world a sign of renovation, the people through prodecs i prevention of export to conn. shipping, for not paly will the lichte be far more knows nothing of the joys of the pipe and the would be roused by the Goverment's sleady polsory bonification of shipmestay applied will be more eagli, picked up they of conver order, is not likely to be revoked, and as fouz and sarnest dalis to reform, and would be top of the pharmacoparis laws to foraigners fed lights, it is interesting to adolfan inje as is stands the searchers will see to it that it is impelled to discard the old and adopt the new in Chiang Uniforms pansities for all offences → bangb will be the frat de Euston WAKUT UN muterly enforced,
Play Would there be any greater masagure of spirit! | N. € 4, Neos.
fitted with incandescent bur
of a generous patron of local sport, whì h be
|
be noted there had been dispatched from was eyep ready to accourage. lu, 1903 he gave Shanghai dorlog the year ending June 30 no a much-needed impetus to Association Foot-less a quantity than 27,030,402.15. of tea and bill by presenting the Skot owe Cup, which is † the Sas Witch bad just returned from home in Bow Frouscled, with the League competition, the record time of 98 days, In spay in conjuncting with Mr. John Prentice for bateraliopal Freiman Mr. Skattowe's he gave another Challenge Cup in bo campsted position gave him a recognized isflsence in the Rfairs of the Saulement sud he was at one time member of the Municipal Copecit and Chairman of the Chipa Association,
THE drydock Dewey has again been placed in commission and the collier Alexander will be placed in the dack in last it in order to ava'd any miship to the cruiser New York which will be docked soon after s19 aniral in Manila,
+
Feklag, Aug. 5. Is reply to inquiries from the United States as to whether China would be prepared for an spium conference at The Hague in September, China has answered that she would act
NOTICE TO 'MARINERS, ba The attention of shipmasters is called to a
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