1912-06-19 — Page 3

THE NEW COMPANIES

ORDINANCE.

The following is the continuă- tion of the

correspondence botwoon the Government and the Chamber of Commerco. The other letters appeared in yoster. day's issue of the "Hongkong Te- legraph'*-

In the Supreme Court of Hong trọng.

Original Jurisdiction. In the Matter of the Companies Ordinance No. 1 of 1865 and in the Matter of the Kwong On Cotton and Yarn Company, Ltd. (In Liquidation),

My Lord, On the 31st day of October 1910 I was appointed

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holder of 10 shares, ho was asked what position he held in the com- pany, to which he replied that he was a Rickshaw-Cuolio.

I have, &c., do., (8d.) J. Hennessey Seth. 21/9/11. To His Lordship, The Olief

Justice,

Hongkong.

Colonial Secretary's Office,

THE HONGKONG TELEGRAPH; WEDNESDAY, JUNE 19, 1912.

EFFECTS OF MALARIA.

As the law is at present, and as may possess the proud privi- TO REMOVE THE AFTER it promises to be under the Now logo of calling itaolf a "British". Companies' Ordinanco now before Company. A concrete example of the Legislative Council, British this state of affairs may be found and Foreign Merchants have no in the enclosed copy of a lotter [real protection when dealing with from a Shanghai firm of practising a Company whose Directors and Accountants." Membora miny bo liere.to-day and in the interior to-morrow,

.

3

A Great Scientific Discovery.

My Committes are aware that Major-General Ross, Professor the same thing may, happen in of Tropical Medicine in the England, or, indeed, in the Colony University of Liverpool, has just itself, but in those cases the assete published a pamphlet of the Company would be under

Sum-

Hotels.

HONGKONG HOTEL

A LA CARTE GRILL ROOM. Now Open,

Hongkong, 20th April, 1911.

J. H. FAGGAET,"

Manager. [25.

GRAND HOTEL,

Tolephone 197

the control of the Court, and the marising the facts known with, Directors would be on the spot,regard to Malaria whichi, as Sir

Presumably if redross wero Joseph Fayrer has written, is MANAGEMENT & CUISINE UNDER EUROPEAN MANAGEMENT

To reasonably protect Com- 21st February, 1012.

morco, my Commitive suggest Sir-Hie Excellency the covers essential to following addi- nor has taken your letter of the tions, to the now Companies Or 14th oflast November'into careful

dinance. consideration and has directed 1. (a). The Booka aud Accounts me to make the following reply of all Companies rogistored sought against defaulting Direo- the cause of moro sickness and to the suggestions made by your under the Hongkong Ordin-brouglit in a Consular Court, invaliding than almost all other committee for amendment of the

be kept in wliers the law is probably totally diseases combined, and seldom New Companies' Ordinancs,

1(a). It is not clear whether it is meant that Chinoso Books and' accounts are merely to be translated into English or whe

ancos, must

Euglish.

4

(b). The auditora of Chinose

Provisional Official Liquidator of thor an English system of book the Registrar of Companies.

residents

was informed that he now

18

tors the action would have to be

different to that of this Colony.

Of what use the pains and

entirely conses to manifest its penalties of the now, or any other effects on the constitution." Hongkong Ordinance, then?

parasites

י

a

Companies. I may add there are sots and Liabilities acquired, and posed New Companies' Ordinance. comparo

No loss of Revenue would re-tonic nerve food, whose action

62]

F. REICHMANN, Propriet I.

ASTOR HOUSE

(LATE CONNAUGHT HOTEL.) QUEEN'S ROAD, HONGKONG.

“ENTRALLY situated,, up-to-date Hotel, Recently renovated, and under entirely New Management. Large and Comfortable Rooms, Excellent separate Tables, Hot and Cold Baths, Electric Light throughout. Terms Cuisine ander the supervision of an Experienol FRENCH CHEF, And moderate, First Class' accommodation for Families and Tourists.

Telegrams "Astor,"

PROPRIETORS,

For particulars and rates apply to

Telephone, 170

OPEN AIR SKATING RINK A

at

BELLE VIEW HOTEL

Telephone No. 07.

[24

Sessions: 10 A.x to 12 No. 2 P.M. to 4 1.6, Ådmission 25 cents› 5 .. to 8.x. 9.x. to 11 P.M. Admission 50 cents. String Band will play at the above Hotel overy Sunday, sommencing from 4 p.m. to 10 p.m.

W. GALLAGHER, Manager.

HOTEL.

Under Entirely New Management.

Thoroughly Renovated.

Excellent Cuisine.

H. HAYNES, Manager.

Unazkoar, 16th Jan.. 1912

(65

[24

THE TAIWAN RAILWAY HOTEL.

AND

TAIPEH, FORMOSA.

Under the Direct Management of the

Talwan Railway Dept

EXCELLENT CUISINE

GOOD SERVICE. "RATES 6 YEN AND UF.

Uniformed hoto. parter moote al trains and steamers. Luggage are ranged for without any trouble to guests.

Hongkong. 1st Feb., 1912,

[182

Companies must be, respon- sible persons approved by

As everyone knows, Malaria Using my example, it might is due to enormous numbers the Kwong On Cotton and Yarn and Recounts

Obs. (a). This is surely a very be said that the Shareholders may of minute blood to be sub-reasonable requirement from abs of a nationality no. neoding called plasmodia, which are Company, Limited and attended stitutell

for tho Chinese concern which becomes "British" British proteotion, bit, taking with my clerk to take possession system; but in either caso immediately upon registration, the concreteexample from Mogers, introduced into the body by of the books, documents and. Lio proposal is

opposed There seems no hardship from Lowo, Bingham and Matthewa certain mosquito, of which there assets of the Company. I took by the representatives of the the point of view of expenso, for letter, some of the Shareholders are about a hundred und, twenty possession of all the books I could Chineso Community. And, but could not obtain posses-masterborka in a Chinese Com-knowledge of English for book-by the oxistouce of a then largely

The Chinese clerks with a sufficient are British induced to take shares known species. sion of the Sharo Register at pany must be the Chinese books keeping purposes are plentiful British Directorate. How are that time, but after having one and there would be much trouble and increasing.

Major Ross's pamphlet is of of the private safes belonging to in adjusting the accounts of the

these protected by the now Or-extreme importance to all who Lik Yik Yu (one of the Manng directors who might have no Obs. (b). Under the new pro-

dinance?

live in the Tropies, for he also ing Directors) opened, 1 found knowledge of English) with those posed Companies' Ordinance. My Committee venture to sug writes with great clearness on the the Share Register there.

of the English Clerk, which the very Limiteil Company must file gest that in the case of a Com- The only other assets besides Directors could not check. In an annual summary of iis Assots any enjoying the privilege of personal precautions to be taken nvoid infection. When, furniture and about $2,000 case of difficulty the Chinese and Liabilities with the Registrar working under the Hongkong to worth of book debts (of which 1 Books would have to be reserved of companies, but unless the Ordinance whose sole place of however, infection has occurred, havo collected $1,521.03) was the to and translated (if necessary) Accounts are auditol by respon business is not within the Colony, and the acute stage has been uncalled Share capital, whicli, according to the Share Registor is not the oforo prepared to on-

cured with quinine, the sufferer's as is now done. Ilis Excollo: cy Bible persons hissummary will be the law should require that.

mere farce and should the (1) Half, at least, of the blood is invariably in BOKING EDWARD amounted to $41,000 divided tetain this suggestion.

court or other poper authority Directors shall be British.

poor # condition thut ho between 28 contributories, only

(2) The Auditor, or Auditore, suffers from anemia with its 9 of which had a registered that the auditors of Chinese competent person desirable, it shall be responsible Britishore, long list of depressing symptoms.

1. (b His Excellency agrees consider an investigation by a address within the Colony. The Companies and indeed of all would be a most costly affair; as approved by the British Consul His great need is, then, of some. balance of the slinreholders being Companies should be responsi a certified translation of every of the port or place at which the thing which will revitalise the either of Canton or ble persons; and, as it is impos- book would bave to be made bo-Company's Head Office is situate. blood, restore to their full number Macso. I have been unable to sible to require that all auditors fore investigation.

(3) The Registered Office of the the red corpuscles which have serve any of the contributories shall be Chartered Accountants,

2. In addition to the require- Company in Hongkong shall be been destroyed, renew the wasted who are registered as residents His Excellency is prepared toments of Claues B6, it is desirable with a British firm.

tissues, thus restoring the weight Those conditions appear to be which has been lost and reinvi- in this Colony with the exception adopt the suggestion of your Com-that every Company formed for of Mfr. Pun Chun Wall, whose mittes that they should be ap-the purpose of taking over a busi-almost essential to enable a Com-gorating the nervous system, thu addrons is described as "within the proved by the Registrar of Comes as a going concorn, should pany to properly understand and making the auferer fool well and premises of Sam Wang Company, ponies.

This provision should, file, as a part of their "Statutory carry out the elaborate and neces-strong. Hongkong". My Clerk, on leav

To do all this, nothing can ing the notice calling upon him however, apply to auditors of all Report", a Statement of the Assary requirements of the pro-

with Sunntogen, the to pay the uncalled capital

(1) What parts of such Assels many Chinese of independent standing who are as competent in have been realised from date of sult to the Colony by reason of in those cases has boon, at- resides in Canton, and 1

audit Chinese accounts as the incorporation to date of Statutory the restrictions, for it may botaken tested by innumerable sufferers. cannot find out whether he has European auditors are competent

Roport.

for granted that no Company is Thousands of lolters havo (2) Woat parts of such Liabili- formed outside the Colony which been received by the proprietors any property in the colony' to attack. The Order to make calls to audit the English Accounts.

2. Section 66 is based on Secties have been discharged from does not consider it worth while from residents in all parts of the Mee cheung. dated the 25th July, 1011, bastion 65 of the Imperial Act and date of incorporation to date of to pay the consequent fees for the Tropics. The following is merely been served on the contributarion His Excellency is not satisfied Statutory Report.

advantages offered. and advertised in the "On Agar that local companies require to be

My Committee trust that the wonderful effect which Sanatogen

an example which shows the ART Obs. If the law could be made Po" Newspaper of Canton and "Wali Taz Yat Po" nowspaper of more drastically treated in this to require the appointment of suggestions contained in the letter never fails to produce in those Hongkong and the date on which aspect than companies in the Auditore (pro tem by the Direc-which are advanced solely for the cases. Dr. H. H. W. Hart, Hapur

tora) before the first Annual protection of Commerce will re- 3. The suggestion that Chinese Meeting, it would be very desira-ceive the sympathetic considera- foll on the 28th day of August, Companies should be treated ble, for a hint case the shove tion of His Excellency the Gover -made to me in respect of such in the matter of fully paid up

1911 and no payment has hoon differently from other Companies Statement would be audited as nor

would the whole Statutory Report. call and it appears to me that no capital appears to conflict with

The effect of such Legislation paymont will be made, as I have Article XXII 10 of the Royal would be to, discourage, bogus boen unable to find any of the structions and is in His Ex-flotations, but not to hinder bonu The Honourable, contributorios. Only one of the notices sent to the Canton and tion. I may mention incidentally

cellency's opinion open to objec-fide ones,

(3) The capital of Chiaose Com- returned, but I am afraid that if that it would be very difficult to panies should be paid up, as I institute prosendinga (with the

devise a satisfactory definition of regards the Capital issued,

Obs. There does not seem to permission of the Court here) in

4. With regard to the proposals be any particular hardalipin this. any of these places the costs will bo so heavy and the likelihood of relating to Companies whose If a Chinese Company with a receiving money 0 remote, that chief or sole place of business Nominal Capital of $100,000 re-

The following lamentation ap not within the Colony, quires only $50,000, it can sell it will not be worth while pro-representations havererontly been and issue half its shares instead rears in a Chinese papor .ceoding against those people.

of issuing the whole half paid up.

Before, officials used money to I should like to draw your Lord-made to Sir H. do Sausmarez,

It seems very necessary that got into office. Now they use the Judge at Shanghai, on this ship's attention to the fact that out subject in connection with an Or some law of this kind, or some force.

Selected after competition with all other systems of $41,000 (being $50 per share Fer-in-Council, which he is draft-form of security as regards

Before, there were many expec

by the Advisory Board to His Majesty King George V. supposed to have been paid on ing, to define the powers of the uncalled Capital, should obtain.

Write for a copy of a most in- $20 shares issued) only $17,200 Shanghai Courtin regard to Comthis apparent reserve to obtain

fant officials. Now there are many teresting booklet "The Art of as the sole reinforcement to be used in the construc- At the moment, Chinese use provisional officials. was actually subseribed so that

Before, they left their homes to which will be sont free to all

Living by Dr. Andrew Wilson, tion of the New Water Works for Windsor Castle, although the Share Register shows anies registered in Hongkong,

whose place of business is in credit, and it in the unfortunate become officials. Now they are that $20 shares were issued. as Chinn. An amondmont of the experience of liquidators that this officials at home.

mentioning this paper on applica a matter of fact only 344 shares Companies O dinance, 1911, will reserve is seldom, if ever, forth-

tion to A. Wuling & Co., 6, Before, there were many offi- were actually paid for. Had this be necessary to meet the terms of coming upon a winding-up. pials who did not come out. Now Kinkiang Road, Shanghai. been a European Company one

In fact, my Committee under-there are many who cannot be Sanstogon may be obtained of! 1 could easily have traced the 478 such as Order-in-Council and in the books of account as there Opportunity so offered, to give the Capital of a Company in and then put out of office. Now ghares for which no entry appears advantage will be taken of the stand that the impossibility of made to leave their posts.

collecting the uncalled part of Before, officials were impeaclied effect to those proposals in your would have been a Balance Sheet leiter under reply which His Ex-Liquidation is within the ex-officials have to be taken to court propared showing the Assots and

perience of the Court itself. Liabilities of the Company at the cellency is able to accept.

the first call of $25 is duo |

Macao contributories has been

date of its incorporation.

I had the Cask Book written up

in order to see what cash should

be in the safe and found, accord-

United Kingdom.

"Chinese Companies.

ia

I

3

Sir,..

am, Your obodient servant,

(Sd.) Claud Severn.

Colonial Secretary,

L

I havo, &c

3

(Sd.) E. A. M. Williams,

Secretary.

The Colonial Secretary.

OFFICIALS THEN AND NOW.

before they go.

It is so perfectly simple for a Before, officials protected and Chinaman to disappear to Canton helped each other. Now they are or further afield "when required | jealous and strive with each other. to pay up, and 80 difficult, if Before, there were many who, not impossible, for a European when young, wished to come into to do likowise, that differential office, and till they grew old they Hongkong General Chamber of treatment is surely urgently could not reach the goal. Now

Commerce.

necessary

there are many who in the morn- Hongkong General Chamber of Another matter which bas en-ing wish to become an official and

Commerce.

gaged the attention of my Com- before evening they have got an mittee is the position of Com- office.

ing to the Cask Book, that there The Secretory,

should have been $3,478.25, but as a matter of fact there was only $55.20, actual cash in hand.

To help the Loan.

Remount

Depot, Babugari, United Provinces, writes: "I have

PHOTOGRAPHER HONGKONG,

TELEPHONE NO. 1013.

much pleasure in certifying to Davorino, Painting & Entua ir

the value of Sanalogen in cases

HOTEL CRAIGIEBURN,

PLUNKET'S GAP.

09.

271

The Peak,

near the Tram Tenninus,

Tel 56.

For Terms, apply to the

MANAGER,

CONCRETE REINFORCEMENT

of Malaria, Entorio Fever, Honkon, Ist May 1911. Dysentery and other exhausting diseases. I have used it regularly now in my practice for this past two years, and in no single in- stance have I been disappointed

with its results. I can honestly THE LOCK WOVEN

affirm that many of my worst| cases owed their recovery to Sanatogen. I could quote numer- ous cases where the administra-

by immediate tion of Sanalogen was followed, and marked amelioration of the symptoms. I cannot speak too highly of its value, and I certainly consider it the best of artificial foods."

all' chemists.

WIRE MESH SYSTEM.

FULL PARTICULARS AND PRICES FROM THE UNITED ASBESTOS ORIENTAL AGENCY, LO., SOLE AGENTS.

(17

SHIPBUILDERS, SALVORS, AND REPAIRERS, BOILERMAKERS FORGEMASTERS, BRASS AND IRON FOUNDERS, CONSTRUCTIONAL, ELECTRICAL AND

MECHANICAL ENGINEERS.

THE WELDING AND CUTTING OF METALS

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Hydraulic & Pneumatic Tools, installed throughout the

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The officials of the Kin. Han

7871. by 88ft. by Bift 6in.

Pumps empty Dook in

24 hours.

OF HONOKONO, LIMITED.

THREE PATENT BLIPWAYS taking

vessels

up to 8,000 tons displacement, providing conditions

for painting ships with most efficient reaalia,

I have trespassad on your valuable time with this rather Hongkong, 9th November, 1911. lengthy report as I cannot help Sir, My Committee have been panies enjoying the protection of Alaa What great difference is thinking that this Company was approached by certain British the Hongkong Ordinances whose there between officials of old and formed with only partly paid up Merchants with regard to the chief or only place of business is now. Capital in order to mislead the great necessity obtaining for the situated outside the Colony, say Yarn Importers, who, when they better control of Joint Stock Com-for example, Shanghai. saw that there was a further Jia-panies of wholly, or practically. It seems extraordinary, and may bility of $50 per share, naturally wholly, Chinese or Eurasian lead, if it has not already done BO, thought that in the event of prices Membership and with a Chinese to considerable abuse that it is Railway have agreed to contri-106-Tox ELECTRIC CRANE ox QUAY-ELECTRIC OVERHEAD going against the Company they or Eurasian Directorate. possible, at the present moment, bute a tenth of their monthly would call up thair uncalled Capi- Ohinese Members of the Com-for a Company to form itself in salary to the people's loan. tal and thus. be able to satisfy munity.clearly recognise, the ad- Shanghai, whose Mombers may their Creditors. This point was vantages of working under the sll be of a nationality other than The Chinese Daily News Jearns to my mind clearly demonstrated Hongkong Ordinances for 62 British, likewise its Directors, that governor Chen Te-chnen can- when an employee of the Com-Chinese Companies have been Solloitors, Bankers and Auditors, not leave Soochow for Nanking

with a foreign firm, and yet it recent trouble in Boochow

Govern of Chen,

bagh many was anked how many sharon registered. since, 1907 to the end Its registered oflos in this Colony. immediately on account of the

he held,and on his reply that he was of September, 1911.

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