December 8, 1897.]
}
CHINA OVERLAND TRADE
ITH ROYAL HONGKONG GOLF CLUB To commission (5 per cent on gold won)
-BEST SCORE CUP FOR NOVEMBER,
There were twenty-nine subscriptions to the
| above (during; the month, and the following
ppresent the cards returned :-
To Australian management and salaries To General Managers' fees
Mr. W. J. Saunders
99
15 84
Cr.
By gold account
Mr. C. A. Tomes
94
8 86
By Olivers scrip, profit realized on sale of B
Dr. J. M. Atkinson
103
15
88
shares
Mr. G. Stewart
91
88
By transfer fees
Mr. C. W. Spriggs
104
15
89
By exchange account
Mr. W. A. Duff
103
12
91
By balance
Mr. C. H. Grace
100
9
91
101
93
Mr. H. L. Dalrymple
The Captain's Cup for December will be played for between the 4th and 6th inst., and during the ensuing week a match between a team of the West Yorkshire Regiment and the Club is contemplated.
NEW BALMORAL GOLD MINING CO., LIMITED.
The following is the report for presentation to shareholders at the third ordinary meeting to be held at the Company's offices, 38 and 40, Queen's Road Central, on Wednesday, the 8th December, at noon :---- To the Shareholders of the New Balmoral Gold
Mining Co., Limited :--- Gentlemen,--We beg to lay before you the report and statement of accounts for the year ending the 30th September last.
0:
451
REPORT.
414.68 the Chinese Government, made with becoming 7,263.53 caution as to previous publicity. 2nd, That, 3,600.00 like the teachers of Russian at the Chinese colleges, they are military officers, or men who $71,961.77
have undergone military training, and are therefore possessed of military eyes and ears with which to record all worth noting. 3rd, That they are precursors of some great move in the game being played out in the Far East, 73.50 Therefore, Mr. Editor, can you throw any light on the question as to where they are to be 54,781.72 | stationed ? Not, I hope, on the Kowloon frontier; if so, the sooner that frontier is extended some distance further off from the harbour the better.
$ 8,293.7$ 8,312.50
520.27
$71,961.77
THE TAKU TUG AND LIGHTER CO.,
LIMITED.
At a meeting of the shareholders of the Taku Tug and Lighter Co., Limited, held at Tientsin on the 26th November, a resolution was passed anthorising the issue of debentures to the amount of Tls. 250,000. The Chairman in his speech stated that the Company was formed in 1889, when the value of the assets was Tls. 408,500. Since then the Company had, up to the 31st December last, spent Tls. 410.000 for additions to fleet and property without raising any additional capital with the ex- ception of Tls. 35,000 borrowed. He referred to the salving of the Sultan and said the profit that other repairing shops would have charged on such a job as the repair of the Sultan, would, it was calculated, be nearly sufficient to enable them to buy the necessary additional machinery required for building lighters, and would also enable them to lengthen and strengthen their principal dock sufficiently to take in any moderate sized steamers. The dock had accordingly been made, and the Sultan was securely and admirably docked. additional machinery was ordered from home, and together with the material was now being The accounts have been audited by Mr. James landed at the dock. For the future they them
The sum of $23,827.80 has been expended on
the mines, 39,107.27 on the batteries, $1,140.13 in legal expenses in Hongkong and Australia, and $18,962.81 on salaries, management, stores, and general expenses at the mines, or $53,038.01 out of a total expenditure of $58,775.98.
The gold won from crushing realized $8,293.78 and a profit of $8,312.50 has been made on the sale of the 2,000 B shares in the Olivers Free- hold Mines, Limited,
H. Cox, who offers himself for re-election.
JOHN D. HUMPHREYS & SON,
General Managers, Hongkong, 24th November, 1897.
BALANCE SHEET FOR THE YEAR ENDING 30TH SEPTEMBER, 1807.
$
LIABILITIES,
Capital $150,000.00 divided into 150,000 ordinary shares of $1 each reduced to $50,000.00. divided into 50,000 ordinary shares of $1 each $75,000.00 divided into 75,000 preference shares of $1 each
$50,000.00
75,000.00
Sundry creditors
ASSETS.
Property as per last account,
$37,274,04, Gold Lot 298 pur-
chased during the year $200.00 $37,474.04
Less reduced during the year
750.00
Plant at mines.......
Live stock
Stores
Olivers A shares 2,000 nt $5.00
$10,000.00
700.00
1,353.66
16,571.61 82.35
Olivera B shares 280 at $2.50......
Cash in Australia £129 148 4d.
at Ex ls, 11ld,
Cash in Hongkong and Shanghai
7
Bank
Petty cash in hand
Working account
WORKING ACCOUNT.
Dr.
To balance from last account......$113,185.79
Less transferred to the debit of
capital account
To Queen mine
To Grant mine
To Balmoral mino.
To Olivers battery.
To live stock
To stores...
To general expenses in Australia
To charges, etc., at head office
To telegrams
To interest
To lease and rent fees
To legal expenses.
To travelling expenses.. To rent of miners' cottages".
0.
125,000.00 6,101.29
$131,101.29
$
c.
36,724.04 8,428.12 475.00 2,004.79
10,700.00
18,007.82 54,761.72
$131,101.29
$
100,000.00
J.
13,185.79 19,126.08 4,152.67
549.05 475.00
2,726.12
9,107.27
3,847.63
647.55
272.21
803.53 872.72
The
selves could build lighters and tow-boats, as they now owned a first-rate dock and a very fairly equipped shipbuilding yard. The additional capital was necessary to cover the outlay for the dock, machinery, and material, with Tls. 150,000 for additions to the fleet, the cost of the new office, and the repayment of the temporary loan of Tls, 35,000.
CORRESPONDENCE.
[We do not hold ourselves responsible for the opinions expressed by our correspondents.]
THE OLD GAME OF BLUFF.
TO THE EDITOR OF THE DAILY PRESS.
11
SIR-I note that the Chinese Authorities are going through the outward form of making great preparations to eject the aggressive Teutons, bag and baggage, they having recently had the audacity to take possession of a portion of the sacred soil of the Celestial Empire. It would be interesting to know what are their real preparations, i.e., what has been done to place their army and navy on a fighting basis. I think I can answer that for them, and it is summed up in the little word "Nil." Even were they in earnest, except as regards the bluff portion of the game, cousidering that one thou- sand good men could march from one end of the Chinese Empire to the other and seize on or hold any thing they wished, cr hold city after city to ransom on the pain of being burnt to the ground should the ransom demanded not be forthcoming, it is supremely ridiculous to note the pompous orders issued from that citadel of humbug, Poking, to the Viceroys, Governors, and Tartar Generals to place the defences in order.
ONE WHO KNOWS THEM. Hongkong, 2nd December, 1897.
|
PEACEFUL BRITISHER, Hongkong, 2nd December, 1897.
THE SCARCITY OF SILVER AT SHANGHAI
Shanghai, 30th November. Measures are still being taken to relieve the financial stringeucy caused by the scarcity of silver. An agreement has been made to accept duly chopped" native bank orders for the present as cash, and the native banks have agreed to temporarily suspend altogether the export of silver. It was hoped that all the foreign banks would sign an agreement to the same effect, but the manager of one bank finds himself unable to bind himself in writing, though sympathising with the movement, aud this agreement therefore remains in abeyance, though it is understood that all the other banks were prepared to take this decisive step.
29th November..
Owing to the great stringency of the local money market a large number of the smaller cash shops also called "banks"-closed their doors during the past week and the proprietors absconded. It is feared that the number of large banks on Ningpo and Tientsin Roads which will close their doors at the end of the Chinese year will be unprecedented and larger than at any time since the opening of this port to foreign trade, unless capitalists in the interior, who have been appealed to, come to the rescue.
2nd December.
were
It having transpired that four of the native detectives belonging to the Central and Louza stations were either owners or part owners of some of the recently bankrupt cash shops in Foochow and Canton Roads, the men placed under arrest by Captain Mackenzie on Monday evening and these men will have to undergo their trial like the other defaulting cash shop proprietors who are now awaiting trial at the Mixed Court. The Chinese law in cases like the above calls for bauishment for the perpetrators to a distance of a thousand miles for three years or more. Que detective alone is said to be responsible for above Tls. 13,000-N. C. Daily News.
PROPOSED LOAN FROM RUSSIA TO KOREA.
Seoul, 25th November. It is reported that M. Alexieff proposes to borrow three million yen from Russia, and is consulting with the Finance Minister on the matter. Owing to supervision over financial outgoings being relaxed in consequence of the trouble between Mr. Brown and Mr. Alexieff, the expenditure of the Royal Household largely increased, and on account of the partial re demption of the loan to Japan, funds in the Treasury have become very low.-Kobe Chron- icle translation.
THE NEW ADDITION TO THE I. M. bachelor
CUSTOMS.
"1
88
A marriage is arranged between Captain G. A. Bramwell, Northamptonshire (58th) Regiment, eldest son of the Rev. Addison Bramwell, of Barrow Hills, Chertsey, and Louisa, eldest daughter of Thomas Buzzrd, M.D., F.R.C.P., of Grosvenor Street. It is rather difficult to think of that gay and festive Brammy settling down a Benedict, but he is caught at last. The other service is not behind, for we see that among the other couples who are to start on a life cruise together are Commander Sir Robert Arbuthnot, R.N., formerly H.M.S. Centurion, and Lins, daughter of Colonel A. C. Macleay, C.B., 3rd Seaforth Highlanders, and Mrs. Macleay, of Buckingham Palace Gardens.-Singapore Free
TO THE EDITOR OF THE "DAILY PRESS.” SIR, I note that six nssians arrived per last English mail for the Chinese Customs. Nothing was heard of their coming before 1,140.13 arrival and we may therefore surmise three 8,81.45 facts-1st, That, like the Russian Finance
Minister for Korea, they have agreements with ' Press.
196.36
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