June) 11, 1898. }
the colony on leave, 7 are absent from the colony without leave, 2 are recruits who have not had sufficient time since joining to complete their drills, one is on medical certificate, and the remain- ing 2, although in the colony, have not com- pleted the requisite number of drills.
9.-In October, 1897, a camp of instruction was held under canvas during a period of nine days on Stonecutters' Island. The use of the Naval Range, of the 64-pounder Gun Battery, and of the depressing range finding instru- ments on the island was kindly lent by the Naval and Military Authorities. The Camp was well attended and may be described as suc- cessful in every way. Toits success I attribute in great measure the activity in recruiting which prevailed during the latter part of the I desire to record my deliberate opinion that the holding of the annual Camp of In struction is an important factor in the well. being of the Corps, from the point of view of its popularity as well as of its efficiency.
season.
10.-A perusal of enclosures 3 and 4 will show that gun practice has taken place more frequently in the past season than in previous years, and there is no doubt that the members of the two units have in consequence become more efficient in this important branch of their
training.
In the various competitions a keen spirit of rivalry has been shown by the several detach- ments engaged, and the shooting has been for the most part good.
In the 64-pounder gun competition which was. held at Stonecutters' Island on the 22nd January, 1898, No. 1 detachment, commanded by Sergeant G. C. Hayward, again secured the first place.
Competitions have also taken place at Repulse Bay for prizes given by the Honourable J. J. Bell Irving, Mr. T. Jackson, and the Com- mandant. In the case of "A· Machine Gun Company the competition was held by detach- ments on the 12th March, 1898, and resulted in the victory of No. 4 Detachment, commanded by Sergeant E. C. Shepherd. The Field Bat- tery held their competition by sections on the 16th instant, when No. 1 section, commanded by Lieutenant W. Machell, were the winners.
A report of the 64-pounder gun competition was forwarded to His Excellency the General Officer Commanding on the 31st January, 1898; a brief report on all the gun practices during the season was forwarded on the 15th instant; and that of the 7-pounder and Maxim gun competitions will be forwarded in a few days.
11-A successful carbine competition in connexion with the Corps was held on the 19th and 26th March, 1898, when a number of prizes were competed for. The members of the Corps are very grateful to the many kind donors of prizes.
12.-Revolver practice by the Officers, and
Staff Sergeants has been continued during the season, and good shooting has generally been
made.
13.-There have been no operations at a distance from Head Quarters for which it was necessary to employ coolie draught.
SERVICES.
14-Captain L. A. C. Gordou, Royal Artillery, the Adjutant of the Corps, continues to show great interest in the performance of his duties, and in particular the arrangements which he has made and carried out for the several competitions have been satisfactory to
all- ranks.
During his temporary absence on leave in Japan in 1897, his duties were efficiently per- formed by Captain A. Chapman.
15.-The other officers of the Corps also continue to render excellent service. By their devotion to duty they set an admirable example to the non-commissioned officers and men under their command, and they avail themselves of every opportunity to promote the efficiency of the Corps. The best relations exist between them and the subordinate ranks.
CHINA OVERLAND TRADE REPORT.
and have discharged their duties to my entire satisfaction.
+
18. The non-commissioned officers and men of the Corps have, with few exceptions, attended drills regularly and shown a praiseworthy desire to make themselves smart and efficient. Their conduct and good feeling in camp and on all other occasions has been exceedingly good.
I am especially glad to be able to say that talking in the ranks on parade is much less frequent than it used to be, and I am in hopes that this un- soldierlike practice will soon disappear alto- gother.
REGULATIONS.
19.-In my last report I held out the promise that the proposed new regulations for the Corps would shortly be drafted and submitted for ap- Proval. But I regret to say that the pressure of other duties has prevented me from fulfilling this promise. In am, however, sensible that the matter is one of considerable importance, and I will endeavour to prepare the draft as soon as possible.
MISCELLANEOUS MATTERS.
20-The annual inspection of the Corps by His Excellency the General Officer Command. ing took place on the 14th instant. The parade state on that occasion is shown in enclosure No 8.
accompanied with stretcher drills, has again been 21.—A course of lectures on ambulance work,
held by Surgeon-Lientenant Stedman. 17 men- bers joined the class, 13 of whom presented them- selves at the examination, which was conducted by Surgeon-Captain Clarke, A.M.S. Of the examinates 11 were successful aud received cer- tificates of proficiency.
22-I have to request that the Chief Ord. nance Officer, China, may again be asked to keep the usual quantities of Martini-Henry car- up and 64-pounder R.M.L. gun ammunition for bine ball and blank ammunition and of 7-pounder
required on repayment. I have further to beg the uses of the Corps, to be indented for as
latest date of manufacture. that the carbine ammunition may be of the
471
CHINA PROVIDENT LOAN AND MORTGAGE COMPANY,
LIMITED.
FIRST GENERAL MEETING OF SHAREHOLDERS, The first general meeting of shareholders in the China Provident Loan and Mortgage Com. pany, Limited, was hold at the Company's Offices, Praya central, on 4th June at noon. The chair was occupied by Mr. R. Showan, and there were also present Messrs. C, A. Tomes, J. H. Lewis, A. Babington, J. S. Van Buren, G. M. Bain, J. · B. Mustard, H. Wicking, G. W. F. Playfair, M. Gutierrez, and F. J. V. Jorge. C. Ewens, Fang Wa Chuen, A. H. Hewitt, F:-
Mr. BABINGTON read the notice convening the meeting.
meeting has been called in accordance with the The CHAIRMAN said - Gentlemen: This Companies' Ordinances, which require that every company registered under those ordin- ances shall call a meeting within four months from its date of registration. The company was registered on 19th February last, and for the little time it has been at work has, I am glad to say, all the anticipations of its promoters. Our made good progress and so far answered
main object is to encourage provident habits among people of moderate means by enabling them, with our assistance, to become owners of the houses they live in. I need not go into the system here, as the pamphlets we are compiling will explain this in detail. It is enough to say that it has been most successful at home. The companies engaged in such business at home have paid good dividends besides having succe eded in giving many persons the satisfaction of living in their own house for little more ex- penditure than if they had rented the house in the usual way. I do not pretend that the sole Our aim is to make money for our shareholders object of this company is a philanthropic one.
to people whose means do not permit them to like any other business undertaking, but I do claim that this company should prove a boon
provide the necessary cash all at once for buy- ing a house, but who at the same time are the true value of the house they occupy and paying their landlord a rent much beyond
which rent, if utilized in the way we advocate, would soon enable them to own the house it- self. Take the case of one of our clients. house he lived in. He was paying rent $40 per month for the He is now paying us $62.40 per month but with this difference: that he now owns his house while formerly he might have paid his rent to all eternity and still have had nothing to show for it. As you all know renta the service-worn condition of the Martini-colony, and for a company like ours care.
24-In my last report I drew attention to
have risen and are still rapidly rising in thig Henry carbines belonging to the Corps. Dur. fully conducted there is, we feel, a great
furture. Our capital is of course ing the season these weapons were examined by the Ordnance Department, aud, with four too small for all the business we hope to exceptions, they were all condemned as unfit for do, but we preferred to begin in a small The question of re-arming the Corps way and build up our capital and resources as with a more efficient weapon has been engaging
we go along. It takes time for a company the attention of the Imperial and Local Govern-
to get in all its capital and to commence active ments, and I trust the proposals which have operation, but I am pleased to say that we have been made to that end may soon be carried into
been fortunate in both respects. Our capital effect.
was quickly subscribed; both calls are now all- paid up, and the bulk has already been lent out money in loans to bona-fide investors in real in various ways. The process of utilising the estate is of necessity a slow one, and mean- while to prevent loss of interest on capital we have taken advantage of the pro- sent tightness of the money market to make short loans on goods in godown, shares, etc., at rates of interest ranging from 8 to 12. per cent.
23. The local Government was good enough $650 for the purchase of carbine ammunition to sanction the expenditure of a special sum of
animunition for practice at a cheaper rate than for the purpose of enabling members to procure that which formerly obtained, namely, at the price of $2.50 per 100 rounds instead of $4.00 per 100 rounds. The result of this liberal measure has been seen in a considerable improvement in the shooting of the Corps, and a large number of musketry, recruits have made good progress with their
service.
25.-A Committee of Officers has been re- cently engaged in considering the question of the uniform of the several grades of the Corps with a view to its simplification and cheapen ing; their recommendations will be embodied in the new draft Regulations.
26.-Requisitions for the capitation grant for Efficients have been sent direct to the Honourable the Colonial Treasurer.
27. It will, I think, be gathered from the preceding paragraphs of this report and from the enclosures to it that the progress of the Corps during the season has been steady and continuous. It is true that its course is not free from difficulties, but I am satisfied that, with self-denying effort on the part of the members of the Corps and with good-will and interest on the part of the Government, the Legislature, and the general public these diff culties will not prevent the Corps from attain
which, I feel sure, is the aim of all who are connected with it. I have the honour to be, sir, your obedient servant.
16.-Corps Quarter-Master-Sergeant G. W. Watling has rendered very efficient service in connexion with the camp of instruction and the several competitions, and in the performing a high standard of efficiency-a standard ance of his duties generally.
17.-There have been several changes among the instructors of the Corps, but I am glad to say that the new as well as the old instructors have proved themselves painstaking and efficient
J. W. CARRINGTON, Major, Commandant, Hongkong Volunteer Corps.
far
our
We shall of course always give the preference to our provident loans on house pro- perty to be repaid by instalments, which will al- ways make us a sure return; but there is a good trust and loan business, if I may so term it, to be; done as well if we had more capital. At present we have placed about $105,000 in provident loans on the instalment plan and have about $15,000 more promised, about $51,000 on mortgage, and about $326,000 in short loans on goods and stocks. Practically we have invested all our capital, and must now look around for. some means of raising more funds. Our credit is good, as our creditors will always have onr reserve liability of $10 per share to fall back" on, so if we decide to issue debentures in lieu of increasing our capital there should be no difficulty in obtaining what we want. I need
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