1911-03-31 — Page 16

125

A WHISPERED CONVERSA

TION.

THE HONGKONG

and The optimistic phrases. `I ask yoit, as one who is interested At this stuto Mr. Gedge rope similarly inclined to ponder ovor in this colony, and allors who are from liis sont and spoko te Hon. Mr.

the injury which false optimism Pollook privately."

Ifon. Mr. Pollock: I will amends this colony in that it laukos, the confidence of the bona

Mr.. Porry-Exense me, you have no business to say that no opposition--

The Chairman: Iain only say. ing that the opposition did not exist thon

Mr. Perry: Of course they did.

TELEGRAPH FRIDAY

Mr. Follook: That is whint has taken place; and I am sorry if declaring that by a show of hands-

The Clairman: No, sir. I de- clared it carried (laughitor).

Mr. Pollook: And it appears, from Mr. Hancock's telling in favour and 33 against. The Chairman: It doesn't mat

MARCH 31– 1911*

SUPREME COURT.

In the Supreme Court Tuesday morning before the Chief Justion the case of E K. Tata v, E. B. Bowls came on for furthorhoaring. Thio claim was for $10,815.31 defendants to the plaintiffs as difference in price, commission,

BASTERN SHIPPING.

INTERESTING OIROULAR ISSUED BY M.M." "COMPANY,

COMMERCIAL.

MANILA MARKETSA

Messrs. Warner, Barnea & Co., in their roport dated the 15th;

at last quotations,

The flour market line ruled

my proposal, that this mooting do investor and therefore koops The Clinirona: 'Gentlemen, I that the show of hands is only boing amount due from the The following, circular lottor sinto that the epal market is quist

ndjourned sine dio pending the re- port of the committee.

sir,

4

The Chaira: Is that a resolu- tion or an amendment?----

capital from being invested in the share to the full your feelings of 20 colony. In this particular in-disappointment in this matter, but

under date of April 1st, is issued by the Mossagerica Maritimos

stance, 1 msk you; sir, to ponder no amount of explanation on myter. If you want to dispute it, oharges, interest, etc. by consign Company, and is of sufficient woaker. Heavy actual and ex- Ion. Mr. Pollock: It is ism-lus brought into many awili over alter the fact that we course if you are going to take by the defendant to the plaintiff reproduction in full. It saye locally for lower grados; Superior over the distress which this opti- part or complaining on your part you must domand a poll... Of ment of molassas from Vayn, sont interest and importance to justify pected arrivals in lamp live had

TI

Lome (applause)..

amondment.

The Oldrinan-You cannot

"WE WANT DIVIDENDS." havo an amoñdinont to a question Whiteli is simply oitlier "yes" or

Sit, we want no more of it; "no."-Tae, question before the what we want are dividends (ap. mooting now is whether the report plase). Failing that we want and accounts shall be passed-out he, satisfied that the general can vote against the motion if you liko, but please let us have оне thing at a time.

their power to that end-even to manggers have done all within

merificing part of their cour mission (pplanso),

a poll you are hopelessly in the minority.

Mr. Pollock: I don't caro; it is a show of fondu." ·

7.1.

the effect of weakening prices Mr. Marcus Slado appeared for Totliosdoxporters from Japan grades continue in good-demand the plaintiff. Defondant appeared (including Fonnoga), China (in with an inadequate supply. Sugar in person.

cluding, Manchuria), and Hong prices have advanced steadily The whole of the time of the kong to Europe, or to ports. via since our last advices, 14,000 tons Court this morning was occupied Europo, who, from the lat. May having changed hands. Markot in going through the correspon- to Cetober 31 next, may have found closes strong in Iloilo. In Moniln douce exchanged between the it their interest to confine their the sugar market has also been partios.

support, and shipments, during advancing and closes vory Arm Mr. Slado in reply to the Court that period, to the "Mossagories Arrivals are in full swing, bad, said that the only defence that Maritimos" Line, we shall be the quality shows a narkot in a way which shows that you are in the minority. A could be raised was as to the con- happy to allow a robato of fivo improvonent.compared witli kist.

have to contend with vory much Boveror competition than wo hävo. ever had before. Tho general managers alore in this disappoint- mont too beenies they have a very great stake in this company. Tho sold a share, they havo neyor General Managers have never

trafficked in shares in any way whatever. They have watched They have watched your interest

A TOLL?

to have a poll ?-

The Chairman: Do you wish,

Mr. Pollock: No, sir." I wish to make it clear thunt on the count

minority cannot pass anything

on a show of hands.

The Chairman; To please you,

goutloon, that is the law but to satisfy you I will declare that

the motion is not carried and thon we will have a poll. Will that satisfy you?

Cries of “No, no."

WHAT THE COUNCIL DOES. The Chairman: I have just told Ton. Mr. Pollock: Then may I you that we did so, Mr. Osborne. quote an listanes which will bo

Mr. Osborne: Well, wo would aid confidence in my optimism, quite familiar to you as a former liko you to do some more (“Oh," When we took the company

anibor of the Legislativo Coun and laughter).

over it was in a dying con- eil? Tho Allornoy-Donoral, on Continuing, MP-Unborno said:dition as some of you know, and behalf of the Ciovorniment, gots up" ["think, gentlemen, I am ox to pull it through we had and moves the second roading of prosing the genocal Joeling of to take on our shoulders very á bill. An unofficial member gets a cholders when I say that great financial responsibilities up and moves as an amendment wo aro et so satisfied We The position was thon so bad that that the bill bo not read that day, are not satisfied that the-in-a-friend-of-mine-told-una-the-busi but that it ho postponed for six | terests of tho shareholders are nons was quite rotten and advised Mr. Gedgo: In Article Oit says: alls That is an amendment placed above the interests of the me not to touch it guany accountIn the first instance it will be The Chairman: Yea, but in this general managers (applause), or But we succeeded in pulling it decided by a show of hands." onse-this-meeting-is-called-with-oven-on-a-pay with them, and the through-and-up to the present You have got your show of hauda apopific purpaso, and our purpose object of this amendment, or what you have had in dividonda over and it has beou decided against only, the passing of the report and I thought was to be an amond-two and a half million dollars you. This is on a show of hands accents. You can only vote ment, is tonlford usin opportunity and you havo only paid three and The Chairman: Wo will take against it; there can be no amend-for-disclosing the true relation- quarter million in cash sait on a show of hands again. Will myir that." Anything you may ship between the interests of the that you have not done so badly that satisfy you? bring forward is in the way of a General Managers and those of aftor all. (Applauso). As there

Several voires; "Yes." direct nogative. The share the shorelolders, and also of are no other remarks and no more The Chairman: And I demand holders ein vote directly against ascertaining and if possible find-ostions, I propose that the re-a poll. it. Then you can bring up anying a remedy for the cause of our port and accounts as prosented bo Mr. Pollock"No, sir. It is rosalution you like,

misfortune applause). "Gontle- jussod.

two-thirds of the shareholders present and a poll menus, the

Hon. Mr. Follook: Of course, you as Chairman rule no out of ordor, and I must accopt that. I must submit that cannot agree with it.

The Chiroianas any othor gentleman any other remarks to mrako?-**

MR. OSBORNE'S SPEECM,

Hon. Mr. E. Osborno: I think I had better say what was Long the ne, although it is in sort of what I thought was.

men, 1 ask you later on, when On a show of hands, fog, and the Hon. Mr. Pollock puts his re-against the passing of the ac-shareholders in this room, solution, to support it, and, sir, counts, the Chairman declared the on behalf of those--I don't wish motion, proposed by himself and to be rude but on behalf of seconded by Dr. Neble, carried. those whoni i consider that your optimisu han mislod; I ask not to oppose it (applause)...

7

NOT OPPOSED.

you

that Mr. Osborne can put it that The Chairman I don't know way told you it was not to lio

opposed.

Mr. Osborne: It is not before

The Chairman Yes, it is it

amendment. I was going to say in socording the amendment [you yet, sir, * proposed by the Hon. Mr. Polis landed in as a suggestion. fock that also do so not in any captious spirit, but purely in the fatorest of the company and in the interests of the colony generally "tapplauser," and because I hɔlieve

that, if shareholders neglect this

Mr. Osborne: It is not before you, sir, I thought that perhaps about it you might change your mind-

-MR-SHEWAN'S REPLY:" The Chairman, saul: Goatlo nes, I don't think - nood detain

con-

CHAIRMAN'S RULING

. CHALLENGED: Mr. Pollock; Gentlemen, is it correct? I dosire to challenge it, challenge the Chairman's ruling, Mr. Pollock thon proceeded to whereupon those who ele o posed to the passing of the ae counts were asked to stand up.

The voles were counted by Mr.I Hancock-33..

In favour of the motion 20 stood up, including the Chairman and consulting committee.

Mr. Pollock: The question is

Mr. Pollock: Yes, I'am prepared

The Chairman: Well, they have demanded it. ...

Mr.Pollock-No, they have

not.

The Chairman: The real incan- ing of that clauso is two-thirds of the voles present. At any rate advised and I um told that my must go by the way I have been docinration that the motion is carried is enough and that can doclare the motion to be carried only be disputed by a poll. Now

this announcemicut,

Murmurs of dissent greeted

RESOLUTION MADE FORMAL

Mr. Pollock beg to move the

Mr. Osborne seconded, The Chairman: agree to that. Mr. Pollock: Make it quite

formul.

Mr. Osborne: This will make it a formality.

mooting and carried unanimously. The resolution was put to the The Chairman called upon Mr.

straction of the contract. Defend- ant was all the time, drawing for more than tho value of the goods signed, and the present action was simply one for balance of

necount,

•

por cont. on the froight paid as per Bill of Lading..

cont. on freights contributed up to October, 1911, and five per cent, on those from that dato to April 30, 1912.

season. Copra markot is steady and supplies. are lighter than usual at this time of the year Tho rico market has ruled very firmi, with good demand.

HONGKONG YARN.

MARKET,

Mossrs. Polishwalla and Kote wall state-Since our last roport on the 18th ultimo by a "Marmora," there had been a very good demand and out in the first part of the interval market had remained very active

To those who, on April 30, 1912, may have found it to their interest to confine their support and shipments during the whole The telegrams betwoou the twelve months to the said line, parties were then oxamined.. we will allow a further fivo por

Dofondant alleged that five lottors wore missing. Plaintiff shid he had never received them. Defendant objected to being charged five per coul. commission.

To those who, on October 31, agreed that the commission interest to confine their support Mr. Slado said int it was 1012, may have found it to their should be 5 per cent. and and shipments during the pro- dofendant in his counter-claim vious eighteen months to the coupled with good orders from

Owing to the docline in ralas had allowed such a commis-nid line, we will allow an ad- the consuming districts, tie sion. Plaintiff was now suing ditional five per cent, on freights buyers have freely come out in for what he had paid out on contributed during tho six months the market to meet their require defendant's account. It was ending April 30, 1012. difficult to understand what do-i

monts while the tendency of the fendant was drivingat. Defendantments made by the "P&Q" at ruling rates supported then "Until further notice, ship holders to part with their stocks kept on drawing against the O.S.K." "N. D. Lloyd's," "Aus-in making large-bargains, which plaintiff for more than the value trian Lloyd's," "Navigazione rosulted in a very handsond of the goods consigued. He went Generale Italiana" (Florio and business in about 7,000 balba and now refused to pay the "East Asintic Coy. of Copen- the first time after the Chiused on quite comfortably in that way Rubattino United Companies), during this interval, which is for balance against him.

Steamship Co. of St. Petersburg," of two months. lagen,Russian-East-Asiatic New Year, that is, after a lapse "Swedish East Asiatic Co. of and examined at some length Kaisha,len, Shire,

Mr. Tata was put in the box Gothenburg," "Nippon Yuson to an advance of $13 in certain This good.demand has tended

with regard to the custom of "Ben, arrived at by the seller and the ments by direct steamers to Black features, but at the close our allowing for tare, which was burg-American" Lines, and ship has passed without any marked

"known chops. "Matunl," ond "Ham- buyer choosing ouch one tin which Soa: ports, will not invalidate market remains steady.

The latter part of the interval

was emptied and weighed. There claims for the above. as sometimes the molasses canie was some differendo in this case in crates mado of bamboo

The case of leakage was then gone into at a great longth

His Lordship gave judgment for the plaintiff both on the claim

At this stage the Court adjourn od till 2 p.m.

.....

......

No "returns will be payable

SHANGHAI TRADE. on freight contributed by beans, Messra. Noel, Murray & Co.'s kaoliang, millet, wheat, maize, roport on the Slanghai pions segamini soods, pens and bean oil goods trade saya-It cannot be from Manchuria, rice, silk and said the market has improved to treasure, the produce of the East any material extent during the forn Archipelago transhipped at interval since our last was written, Hongkong, nor on any cargo the but still there are a few encourag- freight upon which may be aring signs that the state of stagna- ranged at a "not" rate.

tion it seemed to be lapsing into "Exporters applying for the re- has been, averted, although freak! ANCE Co., LTD.

turns, which will be payablo in complications have developed. London, on and after January 1, These are chiefly due to the Subject to audit, the directors 1912, July 1, 1912, and January collapse of a big native bankiug will recommend that a final divid-1.1913, respectively, must fill up concern, end of $4 por sharo bo paid and sign forms which can be ob-

with branches: for account 1009, making $7,tained from the Agents.". end of $4 per share for 1910 for the year, an interim divid and a Bonus of 20 persont on

LOCAL COMPANIES. CHINA' TRADERS' INSUR-

BOWLING MEN DINE.

Ho Fook to propose the re-election contributory premium. They of the consulting committee.. will further recommend that bere of the Kowloon Bowling Still the branch-here is mixed up

Thore boing no response, the L10,000 be passed to Reinsur scerotary (Mr. Robertson) asked ance Fund, leaving $225,358.20 in the Clubhouse, Mr. D. Harvey, Mr. Io Fook to move the re- to be carried forward to Un election of the consulting derwriting Suspenso Account, comaritico..

thus closing the account for 1909, UNION INSURANCE SOCIETY

Mr. Ho Book: I don't know how the matter stands now (loud applause and laughter),

the president, in the chair. A few toasts will be submitted and

over this empire, named the Yi-shan-yuen Bank. The branch in Peking appears to have brought about the failure, and it is money of the officials that is The annual dinner of the mem-chiefly involved we understand. Green Club takes place to-night with the commercial interests of few more nativo bank orders have this place to some extent, and a been added to the dishonoured list. It is, however, probable that the proprietors of the Bank may. be able to meet their liabilities in time. The weather has continued bad and not only interfered with deliveries here, but has delayed being expected that the river there the opening of Newohwang, it not

tides a few days hence. Some of will be free of ice until the Spring

the steamers we mentioned as

honoured.

The following programme has ovidently been compiled by some. one who is familiar with the green

பப்

The Chairman: "There are 33 "against and 20 in favour, and as tion before the meeting has first,ity, declare the motion carried. Noble and Mr. Cousland, with

Hon. Mr. Pullock: The resolu- you must haven two-third'smajor-resolution that a committee of.Dr.and counterclaim, opportunity to express dissatisfaé

to be put. tionat the results which have been

Mr. Pollock. No sir.

power to add to their number, place before them of the last year's resolution we agree to this compating everything 1-eny-

The Chairman: There is no

The Chairman: You are dis- bo appointed. working, if they do not now, atmittee being appointed. mico, take steps to preserve their.

Mr. Pollock: The Articlos mat intorests, I believe that matters

bo vary funnily drawn minority can carry

" ifa will glide back into the old groove.

a motion. Hoforms and rotrenchment, which

The Chairman will road you are the only remoflies in these very long. Mr. Osborne lins the Articles.

given you a long lecture on circumstances, will again be post optimism and has decided that whether your resolution Ims been paned and we shall find as timo

my optimist is false Wolf, carried and it cannot be carried progresses, that the present de- gentlemen, that is a matter, of by a minority. It is quite obvious plorable position of affairs will opinion. I am not atallas pessi that 26 is not more than 33. become worso instead of better mistic about the future of long-The Chairman: Are you ̈ pro- (applause). Considering the kong na Mr. Osborno is. magnificent property and equip-

pared to listen? ment possessed by the Green

Mr. Osborne: No, 1- Island Cement Company, its very ani speaking now.

The Chairman: Pardon mo, 1

to listen. capable staff, the fact that it turns tainly not cease to be optimistic I'shall per-

THE ARTICLES QUOTED, out a first-class article with a vory at the bidding of Mr. Osborno or of Association);

The Chairman (quotes Articles large and universal consumption, anybody else. As to the and considering its unrivalled crete block business, we ad-submitted to a meeting shall be

OF CANTON, LIMITED. Article 9 says "Every motion advantages in the matter of uitted that it was a mistake determined by a majority and shall Ho to resume his seat.

The Chairman motioned to Mr. will recommend that a final divi- and its members:

Subject to audit, the directors slipping feilities, I do not and we stopped it. At the samoin the first instance he decided by think -it-is--unreasonable on time the concreto-block-business-

Mr. Turner (who had evidently for account 1000, making 450

dend of $20 per share be paid Song,...." The Chairman,... Mr. the part of shareholders to expect is growing in Ilongkong, and it equality of votes, the Chairman seconded.

a show of hands and in ease of an not heard Mr. Ilo's remark) per share for the year, an interim Soug...." Ye Gallants of Eng

Harvey. that it should at least hold its own against competition but also suggest that the $10,000 damage and a poll, have a casting vote in his not proposed anything.

is most unfair of Mr. Pollock to shall both on the show of handse A shareholder: Mr. Ho Fook 1010, and a bonus of 20 per cout. Song,... The Village Black

dividend of $30 per share for land"... Mr. Ormiston do yield a moderate return on the by fire has anything to do with addition to his own vote." capital invested (applause). On

Tho Chairman

on contributory premium. They previous occasions, sir, at these the concrete block business. It

Carried will further recommend that

clearing last week were kept back Article 10 anys: "At was a more accident an act of unless a poll be demanded

any meet-(laughter). nungal meetings, and to some ex-God-and-had nothing to do with bent least two-thirds of the share-not submitted any proposal was to be carried forward to Under- £10,000 be passed to Sterling

until this morning. Meanwhiló The fact that Mr. Ho Fook had Reserve Fund, leaving 8431,000

the news received of the market tent again, to-day, we have had, the concrete block business at all. holders then present in person pointed out, whereupon Mr. writing Suspense Account, thus

certain amount of buying is going as the Hon. Mr. Pollock as The change in the prospect of the and entitled to vote a declaration edge proposed that the Consult-closing the account for 1909.

there is fairly satisfactory, and a pintad out, reiterated to us by business Inst year came very and-by the Clairman of the meeting Committee be re-elected; the Chairman that the prospects donly. Things in the beginning ing that a resolution lins been

on from second hand holders. The and position of this company of the your looked rosy, Mr. Rolcarried thereat upon a show of

position in Tiantain, however, were sound and good. On one look made a point about the hands shall be conclusive and

seems to be the most encouraging gecasion, sir, I think I am right Philippine duties being passed an entry to that effect in than the re-election of Messrs, W. TE "TELEGRAFE" CORRESPONDENT

Hon. Mr. Keswick proposed

and quite a respectable amount in saying that you informed several month before I made book of proceedings of the meet Hutton Potts and. A.

of: buying, from the ваше that the company could soil, and those remarks. That is quite inge of the company the fact Mr. Klinck Boconded.

sources, is reported to have soll profitably, all the cement that true. We had not felt the effects!

Canton, March 20, shall be Gourdiu as auditors,

been done, in which Ameri itcogll manufacturo.

Canton has, until recent years,

can makes have occupied the of the Philippine duties as no

sufficient evidence

been famous for its native manu-

more prominent position. It importations had been nude and without proof of the number or

factures. Owing to the influx of Song.....The last Post,'". The various increases and we could not feel the effect favour of or against, any such business, gentlemen. Iam much this art is going back. It is re- proportion of votes recorded in The Chairman: That is all the foreign goods, the standard of

is sald, moreover, that orders are on the New York market clunges of "capital during the until they had been mado, "Mr."

resolution."

obligad-for your attendance,

for direct shipments to Tientsin, past few years, have certainly Osborne said I had said that the

ported that sovoral patriotic and implio confidence in the prospects were sound and good have not got two-thirds," Aid The Chairman: Now, sir you

On Saturday, a fashionable which certainly looks like a enthusiastic Chinese manufac Chinese wedding WAS colorovival in the demand for those future prosperity of theSo they were at I nover anid

The 120th Baluchistan Infantry turers are forming a Canton brated. The bride is Miss Ho goods. The northern ports are company, and that combined anything that I did not believe

you can demand a poll, leaves oralat in April next for Mauufacturing Association, and Pak Ching, daugliter of Mr. He now almost free from the plague via the statements that have at the time I spoke. You must declaration that it is carried, if kong. The 120th is one of the facturing classes to give their known local residente, and the is nearly normal again, so it is Hon. Mr. Pollock: On your the Far Eastern garrison of Hong-will call upon the different manu-Kom Tong, one of the most well-scourge, and the transport service boon aarde from the clair have also remember that when I was so it is challenged at once, thors must so voral Baluchi rogiments which support to this project. The bridegroom is Mr. Choa Pu Tu, hoped a great improvement may certainly, and soms influence in optimistic na he says, wo were not be a count. inducing à large number of peo- feeling the competition of the

have a fine tradition of service object of this society is to son, of the late Mr. Olion Loop soon be seen in the Chefoo off ple of minall-monus to invest their Haiphong Cement Company or the ion shall be conclusive.

The Chairman: No, declare well rondered in the past, and its introduce reforms in the art Chee, formerly compradore to the take. The river markow, and savings in this concern. Now, Canton Company,

ranks consist of some of the beat of manufactures, and to improve China Sugar Refinery and who; Szechwan are taking fair quan k air, I will ask you the Hon. Mr. THE FUTURE A MYSTERY. of hands," Mr. Chairman.

Mr. H. J. Gedgo: "On a show fighting strains in the Indian the quality of the hand-made it will be remembered, was profies of goods of all descriptions Pollock has referred to the ques

I cannot toll you what thoro

Empire -Hazaras, Khattaks, goods. The local authorities will minently identified with the Flood and clearances would have been tion of the optimistio remarks spects are for next year at Fernre have on demanded a pell, non-Jat Bikle. It is just 86 years mintier. The Wan Yna Lecturago. The wedding presents were the heavy rain. This affect

Mr. Pollock: That is a poll; Wazire, Baluchis, Brahmans, and soon be approached on, the Fund Bazaar two or three years ch better had it not been for which hwa so often fallen from not tell you what competition many The Clairman: We hoyo unt since the regiment. come into ing Society, in Sai Kwan, is both numerous and costly and Ningpo country your lips-I ask you now, sir, to come in to aroil our market next demanded a poll. It is imply conse these honeyed wordsofyours your,

stence as part of the Bombay temporarily made..use of for this the value, we understand, runs the creeks set so ons show of hajida,

into a pretty lgh figure.

cannot pass undert

· HONEYED WORDS,

1

Mr. Turner seconded. Carried...

Cartiod

4

O'D.

CULTIVATING CHINESE

purpose

ART.

smith,... Mr. Rutter, Bong..."Oh Steer my Barque to Erin's Telo."....Mr. Davison. Song...." Wait Till the Clouds

Song...... Uncle John," ...... Mr. Roll By ...Mr. Jeffreies

Shearer, Song....." Daddy," .... Mr. Alexan- der.

Song..." At the Ferry," Song......" In Cellar Cool,' Mr. Toxton.

Mr

Robertson. Song...." Good Company....Mr. Hall,

Lloyd.

"........ Mr.