176
The explanation is simple. Money that was formerly lent on mortgage and earned interest has been called in and inves ted in the development of properties which have not yet become remunerative and against which no charge for interest
[March 4, 1899.
THE HONGKONG WEEKLY PRESS AND
strictures of our correspondent as a whole, | regulations of the Police Force. The effect however, the general reply is that people the admission of a number of new who buy properties with a view to their recruits had upon the discipline of development must look to the future rather the Chinese contingent may be gauged than to the immediate present for their pro- by a comparison with the returns for 1896, fits. As to the increase in the cost of maù-
the gam the year preceding that in
.
As mad iu dhe annual accounts. At the (agement, to which attention is drawn, it will bling scandal
was brou conting
be
be seen that the increase is principally in repairs and insurance, and as the number of buildings owned by the Company increases these items will necessarily continue to in- crease also.
so charged, but | THE POLICE REPORT AND CHINESE number
AMENABILITY 10 DISCIPLINE.
(Daily Press, 2nd March.) In the Police report for 1898 the Captain Superintendent tells us that seven Chinese members of the Force were granted rewards by authority of the Governor for intelligence and promptness in the discharge of their duties, eight for the courageous manner in which they arrested a number of gamblers in the stone quarries near Shaukiwań, one for arresting under great difficulties a man wanted for shooting with intent to do grievous bodily harm, another for attempt- ing the arrest, and thereby impeding the flight till assistance arrived, of three Eu- ropean stokers, and another for prompt action in extinguishing a fire in a house on his beat.
annual meeting in 1894 the Chairman drew attention to the important de- crease in the interest account, which said was attributable to the fact "that no interest has been charged on the properties during development in 1893," Formerly interest was since the date mentioned the contrary course has been followed. Until the properties are developed and begin to yield a return
therefore there must necessarily be a loss in income. For in- stance, a sum of say $100,000 lent on mort- gage and earning interest at the rate of 7 per cent. is called in and invested in pro- perty which takes two years to develop (reclamation property has taken many years); there must necessarily under this system of account keeping be an apparent loss during those two years of $7,000 per annum, while if the properties were charged with interest the Company would appear to be deriving an income from the money invested. Now on the 31st December, 1896, the amount advanced on mortgage was $2,204,401 and the amount invested in property 82 426,174, whereas on the 31st December, 1898, the amount advanced on mortage had fallen to $1,214,200 and the amount invested in pro- perty had risen to $2,989,400. In his speech at the meeting held on the 26th January last the Chairman stated that "out of the sum "of $2,989,400 invested in properties more
thorities than two millions is entirely developed "and revenue earning, and of the balance "about four lacs will be yielding rental "within the next few months." The share- holders may therefore look forward to a considerable increase in the rent account, and on the whole it would seem an indica- tion of good management rather than bad that development work should have been so extensively carried on concurrently with the payment of satisiactory dividends to the shareholders. Of the two millions of pro- perty entirely developed a portion only reached that condition" in 1898 so that the accounts did not experience the benefit of a full year's earning on that portion.
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(6
14
In some of the above cases,'
says Mr. MAY, "Chinese constables showed great courage, in which I may say I have "never found them to fail." These remarks possess some interest in connection with the question of the Chinaman's potential value as a soldier, a point upon which Lord CHARLES BERESFORD and other high au- decided have expressed very opinions. Courage is an essential qualifica tion of a good soldier and it would appear from Mr. MAY's remarks that in that respect the Chinese are not despicable. In regard to discipline, however, the report is not 80 favourable, although amenability to discipline is usually con- sidered one of the Chinaman's strong points. When compared with the other branches of the Force in the matter of reports against them the Chinese make a very unfavourable showing. The strength of the European contingent is given as 112, and the number of reports as 41, or 37 per cent.; the Indian strength was 226 and the reports 314, or 139 per cent.; while the Chinese contingent with a strength of 292 had 572 reports, or 195 per cent. Mr. May says this record is not satisfactory, and he proceeds to explain it in part as follows:-
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light. In 1896 the strength of the ent was 112 and the reports 53, or 47 per , reports 303, cent.; Indiau strength 226, or 134 per cent.; Chinese strength 293, reports, 452, or 154 per cent., as against 195 per cent. in 1898. Although the of recruits entered last year would therefore seem to have had an appreciable effect upon the number of reports it will be seen from the above figures that when the condi- tious are normal the conduct of the contingent still compares unfavourably with that of the other contingents. Many of no doubt for breaches the reports were
The large number of recruits enlisted to "fill the numerous vacancies that occurred "iu consequence of the bribery discovered "in connection with the Wa Lane gambling "house was
one contributing cause.
In onses of "the large majority of the
asleep on duty, for instance, the culprits were such recruits. Another cause was "the difficulty in obtaining a good class of "recruits. I have already reported that in "view of the rapid advance of rents and the
"
"
of discipline that may be described as trifling, but the same remark would and does not vitiate the comparison. also apply to the other contingents
HONGKONG LEGISLATIVE
COUNCIL.
On 27th February a meeting of the Hong. kong Legislative Council was held in the Conucil Chamber at the Government Offices, there being present-
His EXCELLENCY the GOVERNOR (Sir Henry Blake,_G.C.M.G.).
喜
His EXCELLENCY Major-General GASCOIGNE, C.M.G. (Commanding the Troops).
Hon. J. H. STEWART LOCKHART C.M.G.
Colonial Secretary).
Hon. H. E. POLLOCK (Acting Attorney- General).
Hon. R. MURRAY RUMSEY · (Harbour Master).
Hon. F. H. Max, C.M.G. (Captain Super- intendent of Police).
Hon. A. M. THOMSON (Colonial Treasurer). Hon. R. D. ORMSBY (Director of Public Works).
Hon. C. P. CHATER, C.M.G. Hon. T. H. WHITEHEAD. Hon. Dr. Ho KAI.
Hon. E. R. BELILIOS, C.M.G.. Hon. J. J. BELL-IRVING, Hon. WEI A Yuk.
Mr. J. G. T. BUCKLE (Clerk of Councils).
PAPERS.
The COLONIAL SECRETARY laid on the table a report on the proposed ereotion of a refuse destructor for the city of Victoria, Hongkong, and a report of the Captain · Superintendent of of Police for the year 1898.
FINANCIAL,
The COLONIAL SECRETARY lid on the table financial minute No. 5 and moved that it be referred to the Finance Committee.
The COLONIAL TREASURER Seconded. Carried.
SANITARY BYE-LAWS.
The COLONIAL SECRETARY moved that the Sanitary Bye-laws made by the Sanitary Board dealing with cattle and sheep be approved.
The COLONIAL TreaburEE seconded. Carried.
THE FLUSHING OF, DRAINS AND SEWERS.
THE DISPOSAL OF THE CITY. REFUSE. -The Hon. T. H. WHITEHEAD-I beg to ask the questions standing in my name.
The question whether interest should be charged on undeveloped properties is entirely a question of account; not to charge the in- terest is equivalent to writing down values, which is generally considered a sound and cautious policy, but it would appear to have its disadvantages, inasmuch as it leads to misapprehension such as that entertained by our correspondent. It may be pointed out, however, that the policy cuts both ways: if the mon-charging of interest makes the Company's income appear smaller than it otherwise would, on the other hand it goes to swell the profits when properties are realised. Thus a large proportion of the $68,952 entered in the last account as pro- "fit on sale of properties" really represents price of food in recent years, the Chinese
(1.)-Are the Government taking steps to interest on the money sunk in the proper- police are underpaid and the contingent provide for the flushing of the drains and sewers ties while in course of development and may "will not be placed on a satisfactory footing and the watering of the roads throughout the "uutil the service is rendered more attrac-city by the construction of tanks along the to that extent be legitimately treated as
"tive." The pay of a third class constable upper levels either for fresh or salt water, and permanent and not merely accidental income. To the extent to which such profits represent in the Chinese contingent is $9 a month, if the latter for the construction of the neces. only an "unearned increment,”, however, it and when the first class is reached |sary pumping stations? would perhaps be prudent, as suggested by it is $14, while a first class sergeant our correspondent, to place them to reserve may receive as much as $25. These rates fund rather than to treat them as earnings do not compare unfavourably with the rates available for the payment of dividends, and of wages prevailing in the open labour the directors, we think, might usefully give | market, especially when taken in connec- this point their attention. Taking the tion with the liberal leave and pension
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The questions were:
(2.)-Are the Government taking any steps to introduce destructors for the disposal of the oity refuse ?
The COLONIAL SECRETARY—I beg to answer as follows:-The answer to the first question is: The Government is advised that no such pro-
vision is at present required. There are noW
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