ovemb 5-1896.
The second ordinary general meeting of this Company was held at Shanghai on the 29th October. Mr. E. A. Probst (Chairman) pre- sided and those present included Messrs. Sea- man, D. Brand, James Jones, Chu Pao-san, Chu Sing-ching, Chock Sian-yin (Directors), H. B. Wilkinson (Legal Adviser), J. M. Young, G Kearton, G. Pilkington. E. T. Riviero, Yung Kwa-dah, Lin Chee, Yee Chee, Lee Chee, Chang Yue-soojao, Ching Fong-chang, Tah Chong, Chang Dong-tab, Hung Tah, and Ying Chi-chee, representing in all 2,339 shares.
it
CHINA OVERLAND TRADE REPORT,
the various clauses in this Convention, have been added by us for convenience sake ‚Â ̈ SPECIAL CONVENTION BETWEEN CHINA AND RUSSIA.
THE INTER ATIONAL-COTTON son to congratulate ourselves that our mill is MANUFACTURING CO., LIMITED. drawing near completion. We hope at a very early date, possibly in December, to invite you to see your mill commence turning out yarn. Prospects, I think I may venture to say, are
His Imperial Majesty the Emperor of China favourable. The new cotton crop in China is having received the various benefits reported to be a good one, and although prices from the loyal support of His Imperial spondingly high; the production of yarn is in- are unduly high, the prices of yarn are corre-
the Emperor of Russia at the close of t creasing with rapid strides, but I think we desirous that the communications between tho
war between China and Japan, and being need have no fear for our outlet, for we have a frontier of their respective empires and the very large field before us. Regarding the international commerce of the two countries be management, I must inform you that we have managed to their mutual advantage, has com- a gentleman who has long been connected with matters in order the better to consolidate the engaged as manager to the mill, Mr. Kearton, manded the mutual settlement of certai the management of cotton mills; it is a post of basis of friendship between the two empires the very greatest importance and we trust that In this connection, therefore, H.I.M the by his knowledge, ability, and zeal you will Emperor of China has specially appointed have reason to be satisfied with his appointment. the Before closing my remarks I would wish to say Princes and Great Officers of the Crown Imperial High Commissioners. the on behalf of your Board that great credit is due composing the Imperial Chinese Ministry of to the General Managers and to your architect War, with plenipotentiary powers, to confer for their zoal and energy in overcoming all and agree upon certain matters, at. Peking, difficulties, for am in a position to state that with His Excellency Count Cassini, EnvoY circumstances have been none too favourable to Extraordinary and Minister Plenipotentiary of such an undertaking. Before asking you to pass the accounts, I shall be pleased to answer China, concerning the connecting of the rail- H.I.M. the Emperor of Russia to the Court of any questions. (After a pause). As no gentle-way system of the Three Eastern Provinces man has any question to ask I will propose the [Feugtien. Kirin, and Heilung-chiang,with first resolution. The accounts have been open for inspection by the shareholders for the past province of Siberia, with the object of facilita that of the Imperial Russian railway in the week and I now beg to propose That the ting the transport of goods between the two accounts as now laid before the meeting be empires and of strengthening the frontier accepted and passed.
defences and sea coasts. And, furthermore, to agree upon certain special privileges to be con- ceded by China to Russia as a response to the loyal aid given by Russia in the retrocession of Liaotung and its dependencies.
Mr. J. W. Callaway was appointed Secretary to the meeting and he read the notice convening The CHAIRMAN then said-Gentlemen, before proceeding to the business of this meeting, I feel sure that I shall be echoing the sentiments of you all by placing on record our sincere regret for the great loss we have sustained by the death of our late Chairman, Mr. William Brand. He was, as you all know, our first Chairman and we must all deplore that he has not been spared to see it brought to a successful issue. Upon the departure of the late Mr. W. Brand for England, Mr. David Brand was invited to join the board. Reverting now to the business that is before us, I will first deal with the accounts. The balance sheet, which you have had the opportunity of ex- amining at the office of the General Man- agers, is nothing more or less than a cash statement of receipts and disbursements, and it could not well be otherwise, seeing that we have no working account yet to put before you. Under the heading of receipts, you will have been pleased to see an item of some Tls. 5,000 received from rent on what formerly. was known as Muirhead's godowns; this amount and interest earned on deposits at the bank have gone some way towards covering preliminary expenses. The capital, your Directors regret to say, only stands at Tls. 634,900. According to the prospectus issued the 30th of July, 1895, your Directors had proposed to allot shares to the extent of Tls. 800,000, and thạt that amount has not been applied for we must attribute to a great extent to the tightness of money which has pre railed since the beginning of this year. On the other band our commitments we now estinate will, including working capital, reach well nigh Tls.-900,000. This amount we are well aware exceeds the estimate stated in dar prospectus, but the increased expenditure is caused by ad- ditions to buildings and machinery, the cost of buildings to house our nåfive workpeople, a re- servoir for the independent supply of water, all of which we feel satisfied are uecessary for the good working of the mill. You will see that at the present moment our capital is about Tls. 250,000 below what we shall require, but I may add that this amount will not be needed until the month of March of next year, when the second instal- ment of 20,000 spindles will have to be paid for. Your Directors therefore propose to still keep the share-list open, but at the same time they, with your permission, reserve unto themselves the right to close the share-list whenever they may deem it necessary to do so in the interests of the existing shareholders. I make this statement thus confidently because we pleased to be able to inform you that we are assured, of accommodation on the most rea- sonable terms for the full amount that we may require. Your Directors are hone the less
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Mr. SEAMAN secouded, and the resolution was carried unanimously.
The CHAIRMAN-The next resolution I have to put before you is proposed by Mr. J. Jones and seconded by Mr. Brand. It is—" That the next general meeting of the Company be held during the month of November, 1897, and that the accounts of the Company balanced up to the 30th day of September, 1897, be laid before the meeting."
Carried.
Siberian Railway is on the point of completion, 1.-Owing to the fact that the Russian Great China consents to allow Russia to prolong her railway into Chinese territorios (a) from the Russian port of Vladivostock into the Chinese city of Hunch'un in the province of Kirin, from thence northwestwards to the provincial The CHAIRMAN-The next resolution is pre-capital of Kirin, and (b) from a railway station posed by Mr. H. $. Wilkinson and seconded of some city in Siberia to the Chinese town of by Mr. J. M. Young. It is That Mr. David Brand and Mr. Chou Shao-yin be elected southwestwards to the provincial capital of Aiyun in Heilungchiang province, from thence Directors of the Company."
Tsitsihar, and from thence to the town of Potunê, in Kirin province, and from thence The CHAIRMAN-The next resolution is pro-southeastwards to the provincial capital of posed by Mr. J. M. Young and seconded by Mr. G. Pilkington. It is That Mr. Rufus Eastlack and Mr. Charles W. Wrightson be elected auditors of the Company for the ensuing year."
Carried.
Carried.
Kirin.
2.-All railways built by Russia into the Chi-
be built at the sole expense of Russia and the nese provinces of Heilungchiang and Kirin shall
regulations and building thereof shall be solely on the Russian system, with which China has The proceedings then terminated.-N. C. nothing to do, and the entire control shall be în Daily News.
the hands of Russia for the space of thirty years. At the end of the said period China shall be allowed to prepare the necessary funds where- with, after proper estimation of the value of the said railways, she shall redeem them, the rolling stock, machine shops, and buildings connected therewith. But as to how China will at that date redeem these railways shall be left for future consideration.
SUPPRESSION OF OPIUM SMUG- GLING IN FORMOSA,
Although the import of opium into Formosa has been prohibited since February last it has been reported that Chinese junks are secretly importing the drug The Governor-General's office therefore acquired two revenue cutters a short time ago with a view to maintain a
strict watch along the coast and also issued regulations for the control of the junk traffic des gued for the prevention of smuggling. Branch custom-houses were established at Kin-kan and Lok-kan, and three other branches have now been added, namely, at Goché, still more brauches will be established. Oolong, and Swao If it be found necessary
expected, be completely stopped.
By
3.-China is now in the possession of a rail- way which she intends to extend from Shan- haikuan into the provincial capital of Fengtien, namely, Moukden (Shengking), and from Moukden to the privincial capital of Kirin. If China should hereafter find it inconvenient to build this road she shall allow Russia to provide the funds to build the railway from the city of Kirin, on behalf of China, the, redemption of which road shall be permissible to China at the
sanguine than they were a year ago.that good / these means the smuggling of opium will, it is end of ten years. With reference to the route
THE CASSINI CONVENTION.
profits will accrue from this enterp: ise, and in the interests of those shareholders who have pinned their faith to the same and been out of pocket for interest, your Directors incline to the opinion that we should close our share- As our Peking correspondent told us in his list at a certain figure, which figure we cannot last letter, Count Cassini, the Russian Minister, at present actually determine, and raise the left Peking for Russia on the 30th of Septem- balance by loan in the shape of debentures ber. His baggage had been packed for three or otherwise. We shall be pleased to have or more weeks, and the carts and mule litters any expression of opinion that. any share- were actually standing in the courts of the holders may have to offer on this point. I Russian Legation, but the Minister would not must now touch upon the progress we have go until he could take with him duly signed -made since last we met on the 28th of Novem and sealed "an important agreement supposed ber of last year. You must all be aware that to be the right of fray for the Siberian railway. had great difficulties to contend with, across northern Manchuria." With great great pressure that has been difficulty we have succeeded in obtaining a copy Dear upon the building resources of this agreement, and we now proceed to give and yet we think we have rea- Fan English translation of it.The numbers to
We
to be taken by this railway, Russia shall follow the surveys already made by China in connec tion therewith, from Kirin to Monkden, New- chwang, etc.
4. The railway to built by China beginning. from Shanhaikuan, in Fengtien, to Newchwang, to Kaiping, to Chinchon, to Lushunkou [Port Arthur], and to Talienwan, and their depen dencies, shall follow the Russian Railway regi lations in order to facilitate the commercial intercourse between the respective Empire.
5. With reference to the railways to be built by Russia into Chinese territory, the along which the said roads shall pas protected, as usual, by the local tary officials of the country:› over, afford all facilities and aid to military officials of Russia at way stations, together with
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