August 27, 1898.J
starboard. Then I saw the Rising Star's red light. I went astern when I saw her red light, but she came on and went across our bow, and we struck her on the port side. The Morning Star was on our starboard side and a little ahead of us. She was going towards Peddar's Wharf. I starboarded my helm so as to show my green light to the Rising Star.
Cheung Shing Hi, master of the Morning Star, said-I left Peddar's Wharf. I saw the other launch's red light on my port side. I blew my whistle and put my helm to starboard. I mean that I saw the other boat's green light on my port side and that I put my helm to port. The rule is that the boat which has the other on her star- board side has to give way and the other goes on. I ported because I wanted to keep clear of the other boat. I only go on when the other boat gives way.
Commander Rumsey gave his decision as follows:-I am of opinion that the collision was brought about by the improper porting of the helm in the Rising Star. If the Morning Star had the other boat's green light on her port side it was her business to keep her course, but the conclusion I come to is that the green light was on the Rising Star's starboard side at first, and that the porting of her helm was the thing that brought about the collision. Certificate suspended for three months.
HONGKONG AND WHAMPOA DOCK
COMPANY, LIMITED,
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The ordinary half-yearly meeting of share holders was held at the office of the company. No. 14, Praya Central, on Monday, 22nd Aug., at noon for the purpose of receiving the report of the directors and statement of accounts to 30th June, 1898. Mr. J. H. Lewis (chairman) presided, and he was supported by Messrs. N. A. Siebs, J. S. Van Buren, J. J. Bell-Irving, A. Haupt, and E. S. Whealler (directors), Mr. D. Gillies (chief manager), and Mr. T. I. Rose (secre- tary). There were also present Messrs. H. A. Ritchie, H. Humphreys, P. Jordan, D. R. Crawford, G. Murray Bain, H. Wicking, W. Parfitt, C. S. Sharp, G. de Champeaux, R. Mitchell, W. H. Wickham, J. R. Michael, T. Esmail, D. Craddock, etc.
In con-
189
had, are indeed gratifying, and the position of the company is so sound and its earning power is such as to encourage the hope that we may have a succession of half-years each establishing a record. Mr. Wicking has taken the words out of my mouth, but I most fully endorse what he has said about the staff. (Applause).
The resolution was carried unanimously. The CHAIRMAN-That is all the business, gentlemen. Thank you for your attendance; dividend warrants will be issued to-morrow.
TRE PUNJOM MINING CO.,
LIMITED.
The Secretary of the Punjom Mining Co., Limited, advises us that he has received the following progress report on the work carried on at the Company's Mines at Punjom during the month of July: *
300 feet Level North Drive.-We continued this a further distance of 21 feet, making total length from main cross-cut 86 feet. I then discontinued the driving of this and brought the men back to open up on the quartz passed through previously. At first it only showed a few leaders, but it is now opened out into a defined lode over two feet wide. The mineral from this gives by assay 8 dwts. 23 grs. per ton, but the average sample of the lode only gives by assay 2 dwts. 6 grs. per don. We have driven on the course of this 16 feet 6 inches.
South Drive. This is now 109 feet 6 inches from the main cross cat, 52 feet having been driven during the month. The whole length of the drive is in a well-defined body of stone, carrying nice looking mineral, but I regret to say the value is too poor to save for the mill.
CHINA OVERLAND TRADE REPORT.
improvements to our docks and to our plant without increasing our capital one hundred fold, which would have made a very serious reduction ou dividend when it came to be divided amongst double the number of shares. Our policy in this respect, however, will be modified in the future according to circumstances. Apprecia- ting the responsibility of giving entire satisfac- tion to our friends and supporters so far as lies in our power, your directors have always given the greatest attention to our workshops and machinery by maintaining them in the highest state of efficiency, and the increasing of our gross earnings fully testifies to the measure of success we have attained in this direc- tion. My predecessors have on several occa- sions adverted to the necessity that existed for largely increasing our facilities by the erection of now workshops and by adding larger and more powerful machines to both the Kowloon and Cosmopolitan establishments, thus placing ourselves in a more favourable position with regard to the heavier class of work that now prevails all over the East. uection with this matter I may mention that the building of a new blacksmith shop and a new iron store have now been put in hand at Kowloon, both of which have been greatly wanted for some time, as the present buildings are much too small and most unsuitable. Later on the new forge will be goue on with, and as pleted we will use the site of the present shop soon as the new blacksmith shop has been com-
for putting up a new erecting shop. At the Cosmopolitan Dock we have also made large additions to the workshops which will give the workmen good cover during wet weather and afford ample floor space for both new work and repairs. With the improvements we have in contemplation completed, we shall then be able East Drive. This was extended 9 feet to turn out more work in a given time and do inches making extreme length from main away with the necessity for so much night cross-out 109 feet 6 inches, when work was work, which is very injurions to both foremen discontinued and the men put to open and workmen when continued for any great up on the course of ground south referred length of time. We have nothing fur
to in my last report and after driving a ther to advise with regard to the con- few feet we struck a piece of stone two feet struction of another dock at Kowloon of wide. It was not continuous, but split up into larger dimensions, negociations with the Ad-leaders, which has continued during the driving. miralty having ceased on receipt of Commodore It is a nice course of ground, costing only $5 Holland's letter dated 22ud February last.
per foot for driving, and we have to keep the Some time ago you were informed by our late timber well up to the face. We had no ground chairman, Mr. Michaelsen, that our Articles of like this at the 200 feet on the same course. Association were no longer up to date and had Distance driven, 47 feet 6 inches. The CHAIRMAN said-Gentlemen, the re- proved to be defective in many respects; this port and statement of accounts having been in matter was subsequently placed in the bands your hands for some days I will with four per- of the company's solicitors with instruc- mission take them as read. There is nothing tions to have them carefully revised and of special interest to report with regard to our adapted to the altered condition of our affairs. business. I am pleased, however, to be in a This having been effected and the new articles position to inform you that a very large amount got ready, a meeting of shareholders was called of work has passed through our hands during for the 11th July last for proposing a special the six months, and that, with the exception resolution to adopt the rew articles, of Aberdeen, both docks and workshops have when certain exceedingly technical points in been kept steadily employed with results connection with the constitution and regula- which I have no doubt will be found gratitions of the company having been raised, your fying to shareholders. The six months un- directors postponed the extraordinary general der review do not quite break the record, meeting, and on the recommendation of our but on the other hand we have more funds solicitors the new articles have been sent by available for appropriation than we have ever them to a specialist in London for the purpose had at any of our former meetings, the net of ascertaining the actual legal position of the sum with which we have to deal to-day being company; therefore the old articles will remain $597,908.46. In the report you will observe in force in the meantime. Our business in July that subject to your acquiescence, your directors and August has not been quite so good as we recommend that the distribution be made on hoped for owing to very few vessels turning up the following lines, viz. :-that a dividend for for docking and extensive repairs: our prospects, the half year of 8 per cent and a bonus of 8 however, of having a fairly good half year are, per cent, aggregating $250,000, be paid to the I am pleased to say, favourable.
I have much shareholders, and a bonus of $20,000 to con pleasure in testifying to the able and efficient tributing shareholders; that $124,903.98 be service rendered by our staff during the past written from the value of the Kowloon and six months, and no doubt to their zeal and close Cosmopolitan Docks and £5,000 from the steam attention to the interests of the company, the launches; to increase the reserve fund by placing satisfactory results now under consideration are a further sum of $100,000, to its credit, which will in some measure due. (Applause.) I shall have then be brought up to $800,000, and by carrying pleasure in answering duy questions before pro- forward the sum of $98,004.50 to new account.posing the adoption of the report. thus providing for any contingency that may occur during the qurrent half year. portionment of our profits in the manner re- commended will, we hope, be acceptable to share holders. Possibly some may demur at the amount proposed to be written down from the value of our property, considering it to be now as low as there is any necessity for, but writing down from time to time as our profits have ad. mitted has been in a great measure the key-stoue of our prosperity, for had this commendable policy not been followed in the past, we could never have made the large, extension and vast
The SECRETARY read the notice convening the meeting.
The ap-
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Mr. WICKING Mr. Chairman, the appre- ciative remarks you have wade in reference to the staff, will, I am sure, not only be appreciated by them but also by every shareholder, as I think they are certainly well deserved. For my part, I am exceedingly gratified the matter has received notice and attention in your special report. (Applause.)
The CHAIRMAN the proposed the adoption of the report and passing of the acounts.
Mr. RITCHIE-Mr. Chairman, I have much pleasure in seconding that. The results of the past half-year, the second best we have ever
North off West.-Work here is also sus- peneded for the present and the men put to rise and stope where the gold was found. A sample from this gave by assay 9 dwts. 19 ges. per ton, and it showed quite this by panning, but the gold does not seem to be persistent. We shall follow it up, however, as it may lead to a run of gold. We saved 15 tons from this for the mill (uot yet treated). Distance driven, 10 feet. Rising and stoping, 22 feet 6 inches.
Winze, 200 feet Level. We have made good progress with this, 24 feet having been sunk, making total depth 85 feet. There is no change to notice in the size or value of the lode.
New Find No. 1 Level.-We discontinued
driving this in the early part of the month and put the men to sink on the leader referred to in my last report, and we find that it is continuous but bearing very flat. Wo can trace the foot wall of the leader to the main body; it is quite a separate piece of stone. We have suspended work for the present and the men will prepare timber for shaft sinking.
No. 2 Level.We have driven 62 ft. 6 inches during the month. We have crossed various small leaders and bare just struck a change of ground, apparently a part of the lode. We cannot see sufficient of it at present to advise.
No. 3 Level.-This was extended a further distance of 10 feet and a crosscut commenced to cut through the lude to test its width and value. Distanco driven, 4 ft.; the lode shows well at this point bat of no value to save for the mill..
Taukong-We have made good progress on this section during the month, having cleaned and repaired 255 feet of old levels and driven 231 ft. 6 inches of new levels. All the new levels, with the exception of a few feet, have been driven on leaders and the main body. We have not yet got the true bearing of the main chute. A part is bearing north and south and a part east and west. We are preparing to get timber to put a main shaft down on this Bection. We milled 200 tons of stone won
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