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October 15, 1808.]
roon)
of the company."
Furthermore, it is one of Mr. Cox's points that articles of association cannot override the Ord- inance, and the Ordinance leaves no for doubt as to the rights and obligations of shayeholders under and in respect to the articles of association. According to the Ordinance a duly registered shareholder enjoys the same rights as the original sub- scribers of the articles and is equally bound by their provisions.
to
ar-
As to the question of a majority of three- fourths or three-fifths being necessary carry a special resolution, possibly Mr. Cox's opinion that there is a misprint in the articles of association may be correct, but the argument is rather a barren one, seeing that the resolution in question was passed by a much larger majority than three-fourths of those present at the meet- ing. When it is desired to challenge a resolution the articles of association pre- scribe the made in which that may be done, namely, by demanding a poll. No Foll was demanded at the meeting in question Mr. Cox says, further, that the ticles require three-fourths of the nominal capital to be represented at an extraord- inary meeting. For that opinion we can find no warrant. Article 57 says that at least. fifteen hundred shares shall be represented, but, as there are six thousand shares in all, that is only one fourth. From what he said at the meeting Mr. Cox apparently thinks that since the capital of the Company has been increased any figures occurring throughout the articles must be supposed to have been increased in the same proportion, according to which reasoning it would follow that the amount of the directors' fees should have been automatically increased, a couclusion which we fancy Mr. Cox will not be pre- pared to accept.
The remuneration of the directors is pixel, as Mr. Cox says, by article 88, which pro- vides that "the directors shall be entitled "to set apart and receive for their remunern- "tion" such and such sums, but we cannot find any article which prohibits the share holders voting any sum they think fit to the directors beyond that to which they are entitled as of right.
THE CRISIS IN CHINA.
GUARDS FOR THE LEGATIONS.
CHINA OVERLAND TRADE REPORT.
ANOTHER IMPORTANT ARREST.
THE EMPEROR PEPORTED TO BE
ALIVE. Y
ANTI-FOREIGN APPOINTMENTS. SHANGHAI, 10th October. Singapore). lately designated Minister
Wong Kung-du (formerly Chinese Cousul at to Japan, was arrested yesterday at the Taotai's foreign residence, in accordance, with a secret edit issued by the Empress Dowager. He awaits orders from Peking. It is feared that
his sentence to death is cert in.
in the Legations at Peking that the Emperor is alive.
It is believed in the best informed circles and
The arrival of the Foreign Legution guards at Peking has prodyecd an excellent effect.
It is noteworthy that the Empress-Dowager's appointees are anti-foreign. There is now no member of the Tsungli Yamej who is conver- sani with for ign affairs,
THE CHARGE AGAINST WONG KUNG-DU WITHDRAWN.
SHANGHAI, 12th September. It is officially déclared that the charge against Wong Kung-du is withdrawn.
Hei remains at the Taotai's burcap and is reported to be sick.
REPORTED DEATH OF CHANG YIN-HUANĮ
MURDERED BY ORDER OF THE EMPRESS.
Shanghail 18th October, It is credibly reported that Chang Yin-huan has been killed near Peking by secret order of the Empress. Dowager.
[Chang Yin-huan was banished to Kashgaria and he was presumably on his way to his place of banishment wheu lis murder took place..
HONGKONG LEGISLATIVE
COUNCIL.
On 10th October a meeting of the Hong. kong Legislative Council was held in the Coun- cil Chamber at the Government Offices, there being present :--
His EXCELLENCY the ACTING GOVERNOR,
Major-General BLACK, C. B. (Officer Com. manding the Troops).
Hou. T. SERCOMBE SMITH (Acting Colonial Secretary).
Mr. H. E POLLOCK (Acting Attorney-Gen- eral).
Hon. R. MURRAY RUMSEY (Harbour Master). Hon. F. H. MAY. C.M.G. (Captain Super intendent of Police).
Hon. A M. THOMSON (Acting Colonial Trea- surer).
Hon. R. D. ORMSBY (Director of Public
ANOTHER PROGRESSIVE GOVERNOR | Works).
DISMISSED.
CHANG CHIH-TUNG IN DANGER.
[SPECIAL TELEGRAMS TO THE “DAILY PRESS."]
SHANGHAI, 9th October.
A special train on Friday morning took from Tientsin to Peking seventy Cossacks with thirty horses and a small field piece. twenty-five British marines with a machine gun, and thirty Germans, as guards for the Legatious.
After a detention of three days on account of the objection of the Tsunghi Yamen that the presence of foreign troops would disaffect the populace, the Foreign Ministers insisted on the necessity of protecting foreign residents and visitors at the capital and said they believed the presence of the troops would-be beneficial and not create any danger of a general rising.
Twenty-five British blue jackets remain at Tientsin.
French, Americau, Japanese, and Italiau guards follow,
An edict has been issued leashiering Chen. Governor of Hunan, for favouring the Reform party.
It is reported that Chang Chih-tung. Viceroy of Hunan, is also in danger of being cashiered.
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Hon. C. P. CHATER, C.M.G. Hon. Dr. Ho Kai, Hon. J. J. BELL-IRVING. Hon. WEI A YUK.
Mr. J. G. T. BUCKLE (Clerk of Councils).
MINUTES.
The minutes of the previous meeting were read and adopted as a correct record.
PAPERS.
The ACTING COLONIAL SPORETARY laid on the table the report of Principal Civil Medical Officer for 1897 and the report of the Injurious Liquors Commission; and also the report of the Finance Committes (N6, 6), movin the adoption of the latter!
The ACTING COLONIAL TREASURER conded, and the motion was carried.
THE SIGNBOARDS AT LODGING-HOUSES,
The ACTING COLONIAL SECRETARY-1 have the honour to move the fol! wing resolution, which stands in my name:--Tha' the following reso- lution passed by the Setary Bard où 22nd September, 1898, be approved by the Legislative Council :--"That bye-laws 9 of the bye-laws made by the Board on the 13th day of March. 1891, and amended on 11. 2nd day of April, 1891, for the licensing, regulation, and sanitary maintenance of common lodging houses, und-r sub-section 12 of section 13 of Ordinance 24 of 1887 and sub-section D) of section I of Ordin-
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;
'
300
ance 26 of I-90, be revoked.” The bye-law in question is that which refers to the placing of signboards outside common lodging-honses and to the keeping in the rooms of lodging-bouses of a board showing the number of persons allowed to inhabit that room.
This was seconded by the ACHING COLONIAL TREASURER and cur:ied.
The DIRECTOR OF PUBLIC WORKS- I rise to move the following:--" B it resolved by the Legislative Council that the percentages en the valuation of tguements, payable as rates, in the village of Hunghom bolnili red from 104 to 14 per cent, and in the village of Mong- kokism from te bien penti This resolu- tion proposes tu æbli! per ent, to the rates new paid in these villages to hurt the erst of gas-lighting, the mains lyåving been extended to beth th villues.
ACTING LOL NIV. SECHEA Ysconded, and the 15 he was vorri L
NATURALIS TRON,
On the motion of the AISG ATTORNEY- GENERAL, se onded lav the AFTING COLONIAL SBCRETARY, the first reading of a Bill entitled an Ordinance for the Naturalization of one Un Chong Wo alias Un Of Ublias Cu Iti alias Lu Kwok Hi was passed.
THE ESTIMATIS.
The ACTING COLONIAL SECRETARY-I beg to move the second reading of the Bill entitled an ordinaner to apply a sum not exceeding 82,587,888 80 to the public solvier of the year 1899). I think it may expedite matters later on in the course of this meeting if (now make a few remarks upon this Bill and ujjou the estimates, The total estimated revenue for the year 1899 is 82,886,137, and the total estimated expendi- ture chargeable against revenue 82874271-80, leaving a balance on the budget in favour of re-
venue of $11,867:20. A few points have nceur- red to me as requiring a little explanation in re- gard to these estimates. In the Colonial Secret- ary's department honourable members will notice that there are two more cadets provided for next year. At the examination hold this year in London under the Iudian Civil Service Regn- lations two cadets were to be selected. The next department which I shall deal with is the Post Office. Honourable members will notice that the expenditure at the Pest Office for 1899 is estimated at 8:25,000 wore than the expenditure for the year 1998. There are varions canses which account for the in- crease. There are the usual stipulated incre- ments of salary; the extension of the business of the money order and registration branches has necessitated the appointment of new clerks; and two branch post offices have been opened, one at Kowloon and one in the western part of the city in the midst of the chief Chinese trud- ing district. Rent has to be paid for these offices, and officials have been provided to man- age them. Two probationers have also been appointed at very small salaries, so that when vacancies occur they may go into harness at once with some knowledge of the business. Our flare of the mail subsidy has been increased and on account of the increase of business the transit charges are more. The next department to which I shall allude is the educational depart. ment. Honourable members will observe that the difference between the estimated expenditure for 1899 and the estimated expenditure for 1898 is $6,000. I feel sure, Sir, that honourable mem- bers will concur in the action of the Government in establishing, subject to the sauction of the Secretary of State, a public selfbol at Kowloon, The cost of maintaining that school is put down
The rest of the extra expenditure in the education department is dno to `nt increase in the Queen College. That merease may be explained as follows:-Oun senior master re- signed in the course of the year, and in or ler to carry out better the policy inaugurated by Sir Willis a Robit n of giving Chinese an English education rate than an education in their own language, thre junior grade masters have been appointed in lieu of one senior master.
With regard to both these schools-Queen's College and Kowloon School-1 wish to say that from Kowloon School it is anticipated that $1,500 will be derived in fees, and that from the. Queen's College, where the fees have lately been raised, it is anticipated that there will be an increase of some $5,000. These two subs, amounting to 86,509, more than cover the extra
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