February 2, 1898.] :
THE BELILIOS KEFORMATORY.
FOUNDATION STONE LAID BY H.E. THE
- GOVERNOR.
CHINA OVERLAND TRADE REPÓRT.
79
Excellency Sir William Robinson, G.C.M.G., credit of reserve fund, which fand will then to lay the foundation stone of the Reformatory, stand at $8,000,000.-
a gift of the Hon. E. R. Belilios, C.M.G., to They also propose to write $100,000 off dead. the colony. Hongkong, 29th January, 1898.” "stook, being the amount standing at debit of
The stone bears the following inscription: the account.. Foundation stone laid by H.E. Sir William Robinson, G.C.M.G., Governor, 29th January, 1898. Building presented to the colony by the Hou, E. R. Belilios, C.M.G."
On Saturday morning, 29th Jan., His Excell- ency the Governor, Sir William Robinson, G.C.M.G., laid the foundation stone of the new reformatory at Causeway Bay, the, funds for. the building of which have been provided by Hon. E. R. Belilios, C.M.G. The site seems to Ladies and gentlemen, I have much pleasure in
His Excellency, after laying the stone, said be a most suitable one, being on a spur of pronouncing this stone to be well and truly laid. Morrison Hill and close to Kennedy's stables This is the fast, public act which I shall perform and the new cotton mill. The ceremony took before leaving Hongkong, and it is a most place in a matshed, which was prettily decorated pleasant one to me and a most interesting one with flags. There was a large attendance, amongst those present being, in addition would make such a long and eloquent speech as to the colony I did not expect Mr. Belilios to His Excellency the Governor, Hon. E. R. Belilios, and a large number of ladies, stone of what will hereafter be known as the he has done in asking me to lay the foundation Hon. J. H. Stewart Lockhart (Colonial Secre- Belilios Reformatory. (Applause.) Asyouknow, tary), Hon. W. M. Goodman (Attorney-General), the essential functions of these institutions are for Hon. R.M. Rumsey, Hon. F. H. May, Hon. R. D. the better training of juvenile offenders. They. Ormsby, Hon. J. J. Bell-Irving, Hon. Ho Kai, are institutions of comparatively recent growth Hon. Wei A yuk, Mr. W. Chatham, Dr. Bateson and are the result of humane endeavour to Wright, Captain Phillips, A.D.C., Mr.N.J. Ede, rescue children from evil courses already Mr J. R. Mudie, Mr M. N. Vandrawalla, etc.
embarked upon. To be effective, industrious Hon. E. R. BELILIOS said-Your Excellency, habits must be engendered in these institutions, I esteem it a privilege as well as a pleasure to and a means must be given to the inmates of be here to-day to take part in what must earning an honest livelihood. (Applause.) The. necessarily be one of the farewell ceremonies of
mere fact of this site having been selected near your long and successful administration. (Ap- the large cotton mill being built in the immediate plause.) It has never, at least in my rather neighbourhood seems to point to the introduction lengthened experience, fallen to the lot of any into this new reformatory when it is erected of of your Excellency's predecessors to lay the. some species of work connected with cotton foundation stone of a new and useful institution spinning, But, ladies and gentlemen, you will in the seventh year of a continued residence doubtless want to know how it is that Mr. in the colony. That alone is an interesting Belilios is mixed up with this affair. What he fact; it gains, however, in interest by being said was not exactly a correct statement; he is coupled with the circumstance that this is the
very shy and timid and refrains from giving second educational institution of which you will himself laudation. (Applause.) We found have laid the foundation stone,(applause)- the building at West Point was thoroughly the first of which you have seen for some years unsuitable for a reformatory. We patched and satisfactorily working. For my own part, I heightened the walls and put the Right Rev. am glad to say that the suggestion made to me. Bishop Piazzoli and the Italian Fathers in by my honourable friend the Colonial Secrecharge, but still we could make nothing of it, tary that I might assist in the work met my BO we decided to build a reformatory. Mr. instant approbation. I always have been an Belilios came to me and said—“Sir William, earnest advocate of education. believe most we must have a proper reformatory. I will fully, in its humanising and elevating effect, give you $12,000 towards the building." Now, and I would like to see it placed within the ladies and gentlemen, we have the Belilios reach of the poorest, a consummation hope scholarships, the Belilios medals, a Belilios some day to witness. There are now, however, school, which is the finest school in the colony, many children who still wallow in the mire and soon we shall have a handsome Belilios Re- of ignorance, and it is from them that the ranks formatory. (Applause.) Ladies and gentle- of the criminals are mainly recruited. men, I consider the colony is deeply indebted restrain and deter from erime we are compeHed to Mr. Belilios-a debt which can never be to support a huge and costly gaol, where the extinguished. (Applause) The name of. social outlaw has to be taught that he cannot Belilios will be handed over in Hongkong commit crime with impunity. Victoria Gaol to a grateful posterity. It will be my last is, however, hardly the place where a Chinese public act on Monday to sign a despatch criminal can be reformed, and, unfortunately, as Governor of this colony, to be sent to the youthful offender against the law too the Secretary of State requesting that he will often emerges from its cells more hardened bring this most generous and noble gift to the than when he entered. He suffers
knowledge of Her Most Gracions Majesty the tamination from association with older and Queen. (Applause.) I ask you now to give more depraved criminals. This is almost un- three cheers for Mr. and Mrs. Belilios and| avoidable under the present system, it being im- family. possible to segregate all the criminals, though the discipline is excellent so far as it can be carried out. Years ago a reformatory for boys was a necessity, but it did not then appear argent. The good fathers of the Italian Mis- sion supplied the want, as far as lay in their power, for many years, but the requirements have now grown beyond the means of the Mission institution at West Point, and the Government having agreed to provide a suitable site, I have been only too happy to supply the funds for the erection of the building. (Applause) 1 feel sure it will meet a want, and I sincerely trust it will be the means of saving many a lad from persevering on the downward and easy road. It is a duty we owe to civilization no less than to poor humanity, to show to the people of China that we provide for the reformation of the young as well as for the punishment of the adult law- breaker that under the Union Jack mercy tempers justice. (Applause.) Your Excellency, with this trowel and mallet I beg you kindly to lay the stone of the proposed reformatory. (Applause.)
:
To
con-
Mr. Belilios handed His Excellency a hand some silver trowel and a blackwood silver mounted mallet with which to perform the cere- mony. The mallet bears the crest of His Excellency, and the following inscription is engraved on the trowel :- -"Presented to His '
We
After the cheering had ceased, Mr. Belilios said-Ladies and gentlemen, a hearty good cheer for His Excellency the Governor, are sorry that he is leaving us, and we hope to meet him in the old country as hale and hearty as he is to-day.
After making these transfers and deduoting remuneration to directors there remains for appropriation $1,314,736.24, out of which the directors recommend a dividend of one pound. absorb $444,444.44, and five shillings sterling per share, which will
rate at which the dividend is declared, and The difference in exchange between 4/6, the 1/11, the rate of the day, amounts to $571,428.58.
profit and loss account.
The balance $298,863.22 to be carried to new.
DIRECTORS.
Chairman for the year 1898, and Mr. R. M. The Hon. J. J. Bell-Irving has been elected Gray, deputy Chairman.
seat on leaving the colony, Mr. Armin Haupt Mr. St. C. Michaelsen having resigned his
has been elected in his stead; the appointment requires confirmation at this meeting.
'Messrs. G. B. Dodwell, R. Shewan and R. L. Richardson retire in rotation and being eligible for re-election offer themselves accordingly.
The directors very much regret to have to record the death of their colleague, Mr. Gerald Blade, last November.
AUDITORS.
The accounts have been audited by Mr. F. Henderson and Mr. C. S. Sharp, who offer themselves for re-election.
J: J. BELL-IRVING, Chairman. Hongkong, 27th January, 1898, ABSTRACT OF ASSETS AND LIABILIṛties, 81st December,
Paid-up capital Reserve fund
1897. LIABILITIES.
Marine insurance account. Notes in circulation
Carrent accounts;—
Silver
$44,141,195,30 ∙Gold, £1,857,225 08.08 -18,728,170.70
Fixed deposits: ·↓
Bilver
$31,730,522.12 Gold, £2,822,738 0s. Od —26,446,670,42
Bills payable (including drafts, on London bankers and short sight drawings on London office against bills receivable and buillion shipments). Profit and loss account
10,000,000.00 7,000,000.00 250,000 00 -9,888,206*.95
62,869,366.06
58,177,192.54
18,750,786.29 2,429,736.24
$169,365,288.02
ABSETS.
17,584,264.83
7,106,487.97
1
6,045,098,31
Cash Bullion in hand and in transit.. Indian and Colonial securities Investments, viz. ¿—
£250,000 0 ◊ 22 per cent, Consols lodged with the Bank of Eng- land as a special London
$1,900,000.00
reserve.o £551,000 0 0 Consols and
other sterling securities 5,553,385.81
Bills discounted loans and credits
Bills receivable Bank premises........ Dead stook
7,453,385.81 61,268,602.20
69,945,633.24
971,965.68
100,000.00
$169,365,238.02
Three cheers and a "tiger" were heartily GENERAL PROFIT AND LOSS ACCOUNT, 818 DECEMBER, given and the proceedings concluded.
HONGKONG AND SHANGHAN
BANKING CORPORATION.
The following is the sixty-fifth report of the court of directors to the ordinary half-yearly general meeting of shareholders to be held at the City Hall, Hongkong, on Saturday, 12th February, at noon:-
To the proprietors of the Hongkong and Shanghai Banking Corporation.
Gentlemen.-The directors have now to submit to you a general statement of the affairs of the bank, and balance sheet for the half-year ending 31st December, 1897.
The net profits for that period, including $301,147.90, balance brought forward from last account, after paying all charges, deducting interest paid and due, and making provision for bad and doubtful accounts, amount to $2,429,736.24
The directors recommend the transfer of $1,000,000 from the profit and loss account
.1897.
Dr.
To amounts written off:-
Remuneration to directors
To dividend account:-
£ 66. per share on 80,000 shares—
£10,000 at 48. Od....... To dividend adjustment account :-
Difference in exchange between dɛ. 6d., the rate at which the dividend: is de. clared, and is 11fd., the rate of the day To transfer to reserve fund
15,000/
444,444.44
571,428.58 1,000 0.00 100,000,00
To amount written off dead stock. To balance carried forward to nert half-year 298,868.22
Cr.
By balance of undivided profits,
30th June, 1897 By amount of net profits for the six months ending` 31st_De- cember. 1897, after making provision for bad and doubtful debts, deducting all expenses and interest paid and due
$2,429,736.24
301,147.90
2,128,588.34
2,429,736.24
$2,429,786.24
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