February 5, 1896.]
and She. Erica again got on to Meteor's weather and kept there as far as Quarry Bay, leaving her further each tack. and rounded the Lyeemoon mark boat with a lead of over three minutes from Meteor, Ladybird being third some four minutes after. and She fourth, then Payne and Dart, with Aileen some twenty minutes after. In the run down Meteor | nearly caught up with Erica, but the latter was able to get across the line first. Times ut finish:-
Erica Meteor
Ladybird
Payne She Aileen
K. M. 8.
3
11 40
3 11 50
3 18 40
3 34 15
3 34 20
3 54 30
Dart and Petrel both gave up and did not cross the line. The points gained towards the
prize are:--- Erica Meteor Ladybird
10
4
I
HONGKONG GOLF CLUB.
The competition for the Captain's Cup took place from 1st to 3rd February, and resulted in an easy victory for Mr. Grace :---
Mr. C. H. Grace
Mr. C. Palmer
Mr. A. S. Anton
Mr. H. W. Slade
Mr. H. L. Dalrymple
Mr. J. Stewart
97
15
99
11
XX
99
11
106
אן
XX
XX
102 10 912
98. 3
The Sweep was won by Mr. C', Palmer.
CORRESPONDENCE.
[We do not hold ourselves responsible for the opinions expressed by our correspondents.]
RAUB.
TO THE EDITOR OF THE DAILY PRESS."
:
CHINA OVERLAND TRADE REPORT.
the roads work was again almost brought to a standstill by the loss of nearly all the draught oxen from the hard work they were subjected to to keep the small mill of ten head of stamps going; then the work had to be stopped to refit the mill and add another ten head of stamps, This only outlines sono of the principal difficul, ties overcome. The railway now at work and the settled state of the country (now assured by the federation of the Straits Settlements and the extension of public works, mainly roads, and moral influence of a strong, well organized police force) will enable Raub to be tranquilly, developed and the shareholders to reap the barvest of handsome and steady returng which : they have patiently waited for, in spite of Moralist's flippant estimate of the value of Raub.
¡
Raub last year, under difficulties and with only twenty head of stamps at work, produced 5,755 ozs. of gold valued at £21,871, or, at 2 2 to the dollar, over 8201,880,
|
115
other stipulations respecting trade privileges in China, &c. The agreement is accompanied by an exchange of notes giving assurances of the joint solicitude of the two Governments for the security and stability of the kingdom of Siam, and of their desire to maintain with it the most friendly relations and to respect existing con- youtions.
!
"A dispatch to Lord Dufferin is also pub. lished, explaining that in making these engage- ments in regard to the central portion of Siam the English Government must not be considered. as implying any doubt or disregard of the title and rights of Siam to other portions of the kingdom, but to have been actuated by don- siderations of the commercial and industrial importance of the regions in question."
Commenting on the above the Siam Observer
says:-
Here it is seen that France does not get the Mekong provinces of Siam, nt, on the other hand, binds herself to respect existing confen- In 18983 Raub paid a dividend of sixpence a tions-by which the whole boundary between share; in 1894 they wisely paid no dividend, Siam and French territory is plainly mapped but devoted the surplus cash to lovelop | out. As we have all through declared, England ing the mine. For 1895 it is reported has no design whatever on the Malay States, and that another sixpenny dividend will be has consequently also readily bound herself to paid: this will give 6 per cent. on prescut | respect her treaties with Siam. We have here, quotation value of shares ($100). Next year with 100 head of stamps going we thay hope to get a 30 per cent. dividend on each share at; a value of $4.00, the present quotation of the shares. Raub is not dependent on one reef, but has a number of reefs to work from proved, over a large area of country.
Paujom, the neighbouring mine, also produces oz. to the ton quartz and this like Raub will
prove richer as greater depth is worked. Pahang goldfields have been fairly tested and proved.
RAUB SHAREHOJDER. Hongkong, 30th January, 1894.
I
PUNJOM MINING CO., LIMITED.
TO THE EDITOR OF THE * DAILY PRESS. SIR, It would be interesting to know how SIE,-An individual signing himself
it is that any important news from the mine is "Moralist" has, I see, been writing to the always received here before it reaches the Com-i
pany direct.
The shares have in the last two days jumped from 84.50 to St and it is not pro- bable that the only cause of this is that the yanide expert has arrived in Singapore and that the Manager hopes to be able to give a very good crushing this month," which is all the information that can be obtained at the office of the Company.
Straits Times a lot of twaddle about Raub. To begin with, he states that the shares have at present a market value of about half-a-crown a piece. A reference to any share list will show that their present market value is $4.00 per share, or say 8/8 sterling.
He further goes ou to state that he once held ten thousand shares, evidently, to put it mildly, a mistake on his part. He then says that his overdraft at the bank on their account was charged at the rate of 8 per cent. Banks are not in the habit of granting overdrafts for the purchase of mining stock much less of stock in an unproved mine. "Moralist" should have signed himself Bear, and a poor Bear at that.
Raub has, fortunately for its shareholders. got beyond the initial stage of au unproved mine and is now dividend paying and is likely in the near future to pay handsomely. It is not and cannot be a 10oz. or 20oz. to the ton concern, sending idiots crazy to obtain shares before the boom bursts, but it is and has been for years a steady producer of oz. to the ton quartz, with wide and extensive reefs of the same; and anyone who knows anything about gold mines is aware that this is what pays, if not quite so exciting as the wild-cat stock. It has further only arrived at the dividend paying stage after steadily fighting for some years against disasters which would have, voluntarily or involuntarily, wound up any mining concern without a good back-bone in the shape of good sound reefs with a steady outturn. The company was in the first place ridiculously over-capitalized; that has been rectified; then a flood came and swept the works clear and filled the shaft with débris, burying the pumps and bringing the work to a stand still for months; this recovered from, a native rebellion broke out in the State (Pahang) and the rebels destroyed all the new works, seized the machinery, and threw it in the river (parts getting lost, necessitating getting it renewed from Europe) and scattered the staff; thus another year was lost and work had to again be begun afresh. The mine having once more been put in order and work fairly started, the wet season set in and owing to the very bad state of
·
It has always been the fact that the news of a good crushing has been discounted several days before the result has been published here and it looks as if it will be so again. Can I any of your readers throw any light on the subject Yours truly.
SHAREHOLDER. Hongkong. 1st February, 1896.
ENGLAND, FRANCE, AND SLAM.
The following official telegrant has been re- ceived by Mr. de Bunsen, Her Majesty's Chargé d'Affaires at Bangkok :-
i
i
|
|
then, a perfectly friendly settlement which guarantees the independence of Siam absolutely. and bears out the spirit of the words of the pre- sent French Government as to the abandonment of the policy of colonial expansion. But, inas- much as border disputes are likely to arise, both countries have a right to march troops into the territory outside the Menam valley. The recrut expedition into Kelantan is an apt example of this. The tendency of criminals to cross fron- tiers necessitates a provision such as would enable the offended country to pursue them. In the sparsely populated and less perfectly orga- uised outskirts of a country it would often be more convenient to permit a neighbour to cross the boundary in such and similar circum- stances than to raise a home force and des- patch it to the frontier. So long as these perfectly amicable incursions of troops do not extend to the Menam valley they will not be re- sented by the contracting parties. But England definitely declares against any assumption that the Mekong provinces do not belong to Siam. The restriction as to the Menam valley is based purely on commercial considerations. Now the official telegram has been received no doubt all fears will be set at rest and our Siamese friends recoguise how carefully England has safeguarded their interests, even while giving up, for the sake of peace, territory which was absolutely English, but which, in view of the abandonment of the Bangkok-Chiengmai-Ssumao railway scheme, could be sacrificed with no serious loss to British interests in those regions.
|
COLLAPSE OF THE CHINESE REFORM ASSOCIATION.
Shanghai. 27th January. It would appear by a telegram received here yesterday from the Reform Association at Nan- king, of which the Viceroy Chang Chih-tung is President, that the editor (Mr. Kang) of the Association's journal at this port,, noticed in our editorial of the 24th instant, had taken too much on himself in inventing a new date for his paper, viz., dating from the year of the death of Confucins. This step has been sternly vetoed by the Viceroy Chan, who has shown his dissatisfaction by decreeing that the journal in question shall not be pub- With reference to con-
The agreement between France and Great Britain, signed on the 15th January was pub- lished in The Gazette on Tuesday. It is therein provided that the thalwey (centre) of the Mekong shall form the limit of the possessions of the two powers from the Nam Hok worth wards to the Chinese frontier. The two Gor- ernments engage that neither will, without consent of the other, under any pretext, advance!lished until further notice. armed forces into the region comprised in the basius of the Petchaburi. Meklong Meuam, and Bangpakong rivers and their tributaries. together with the coast from Muong Bangta plan to Muong Pase, the basins of rivers on which these two places are situated, and basins of other rivers having estuaries in that coast, including also territory north of the basin of the Menam and situated between the Anglo-Siamese frontier, the Mekong river, and the eastern watershed of the Me Ing. They further engage neither of them to acquire any exclusive privilege in this region, but these stipulations are not to derogate from the rights or France, under the treaty of 1893, in regard to the 25 kilometre zone and the navigation of the Mekong. There are
the new date the telegram states that it is " trary to reason, and, with certain clauses of the articles of association published in the Re- form Journal, had not been sanctioned by the
other members of the Association."
Shanghai. 28th January. In reference to the paragraph in our yester- day's issue aunouncing the suspension by H.E. Chang Chih-tung of the organ of the Reform Association at Shanghai, a correspondent sends us a copy of a telegram received here on Wed- nesday last from Nanking, to the effect that the Peking reform movement has been suppressed by Imperial order. We very much fear that this suppression is a fact, and can only ask with our correspondent, "What next?"—Ñ. C. Daily
News.
No comments yet.
Private notes are available after approval.