延:
THE HONGKONG WEEKLY PRESS AND
warning the people to eep the peace, which quieted matters in Kienyang. That was on June 10th, On Mr. Phillips getting news of what had occurred in Kienning he went at once to the magistrate suggesting that a seal should be put on his house and that the magistrate should git-'him Mrs. Phillips,
os, and Miss Sears shelter in his yamen, and this he willingly consented to do. The maudaring at both places appear to have done all that lay in their power. What was wrong was that they were not granted mil- itary enough to support their anthority over a mob rising. One story is, that at Kienning they had two or three hundred soldiers, but that they had been sent away to escort treasure to the tes districts, and that the mob had seized the opportunity presented by their absence to rise, though it was some days before the day fix- ed for the rising. But to return to the question as to the instigators of the riot, it remains un- certain who they were. The vegetarians or some other secret society may have had some thing to do with it but it is not improbable that it was the work of the young loafing literati | who abound in Kiếnuing and who would and no difficulty in getting together a band of credulous. ignoraut, ill-dispoked ruffians to carry out their designs. But this does not directly concern us, Nothing can clear the Provincial Government from blame in not having provided against the possibility of such an outrage occurring.
THE ROYAL HONGKONG GOLF CLUB.
;
•
CAPTAIN'S CUP AND SILVer medal POR JULY.
Heavy rain prevented play during the first two days fixed for this competition, but an extra day being granted a better attendance than at one time appeared probable resulted, the links and greens proving in good order.
CAPTAIN'S CUP.
Mr. Q, Palmer
Capt R. M. Kumsey, B.N.
Mr W. Taylor
Lient. Tulloch, R.A.
Mr. W. J. Gresson
Mr. V. A. C. Hawkins
Mr. C. A. Tomes...
18 entries.
94 11 83* 98 11
100 412 88
103 15 88
111 16 95
104 9 95
104 11 95*
the Pool, for which there were 12 entries.
placed before them. Since the notice was put in the newspapers and the article placed before them. it had been proposed that some few amendments should be made in the Articles as printed. The amendments were in accordance with what had been the practice of of the company. They were principally amend ments of words only. The directors bad con- sidered these amendments and saw no reseen whatever for not repting them. In the print ing of the Articles a few printer's errors had cropt in, and these would of course be rectified.
Mr. LEWIS seconded.
·
The Hon. J. J. KESWICK proposed a formal amendment incorporating the corrections decided upon by the directors.
Mr. PETER seconded.
+
M. MURRAY BAN --May I ask if these are the amendments referred to in your opening
remarks ?
The CHAIRMAN—Yes.
Mr. REECE said he was entirely in favour of the amendments proposed by Mr. Keswick. In fact he thought that in the first place they came from himself. There was only one matter he should like to mention, and that was that the name of the Company in one respect seemed to him to be somewhat absurd. The Company had for a long time ceased to carry on business at Whampoa, and he did not think it was intended to carry on businers there in the future, and he thought it would be a good thing if steps were taken to change the name of the company-delite the words And Whampoa" and call it the Hongkong Dock Company; but he understood that it was the idea of the directors to leave this to the Court. The meanorandum and Articles would come before the Court, and the matter might be taken in hand then.
:
The amendments to the Articles were ap. proved and the motion was carried.
The CHAIRMAN remarked that this was all the business and thanked those present for their attendance. Due notice would be given of the confirmatory meeting.
INDO-CHINĚ STEAM NAVIGATION |C· ·.
The eighteenth ordinary general meeting of These members also marked their cards for the Indo-China Steam Navigation Co., Limited, was held at the offices of the company, 29, Cornhill, on 9th June, the Chairman (Mr. J. HONGKONG AND WHAMPOA DOCK | MacAndrew) presiding. The Secretary (Mr.
CO., LIMITED.
EXTRAORDINARY GENERAL MEETING. Yesterday afternoon au extraordinary general meeting of the Hongkong and Whampoa Dock Company, Limited, was held at the office of the Company, Queen's Buildings, for the submission of the following resolution - That the Mem- orandum and Articles of Association submitted to this meeting he and the same are hereby approved and that pursuant to the Provisions of the Company (Memorandum of Association) Ordinance 1890 the form of the Company's constitution be altered by substituting such Memorandum of Association with extended ob- jects as therein set forth and such Articles of Association for the Company's Deed of Settle- ment dated the 29th of August, 1863, and for all Regulations of the Company subsequently made and now in force; and that the Directors be authorized to apply to the Court to confirm this resolution under the said Ordinance." MEJE. S. Whealer presided, and there were also present the Hon. J. J. Keswick, Messrs. J. H. Lewis, N. A Siebs, A. Haupt, E. Goetz, 1. 8. Vên Büren (directors). D. Gillies (obief nager), H. W. Looker (solicitor), T I. Rose (secretary), G. Murray Bain, J. F. Reece, J. U Peter W. Parfitt, G. de Champeaux, F. Heuder- son Hart Buck, and G. H. Dann.
The SKORETARY read the notice convening the meeting.
The ('HAIRMAN said that, as long ago as Feb ruary,
1897, the Chairman informed hem at the annual meeting that the existing Articles of Association were somewhat obsolete and that the directors proposed to take up the ques tion of new Artioles. They had been advised at each half-yearly meeting since of the progress made with the revision of the Article, and that meeting had been called for the purpose of pasing the revised Articles which had been
I
A. Cheyne), having read the notice convening meeting, the Chairman said:
[July 8, 1899,
the Chinese would not reimburse them until they were absolutely obliged to. I owever, the Government here still express their intention of assiting the directors as far as they can în the matter, and they hoped that something effectual might be done to bring the matter to a satisfactory conclusion, The unsatisfactory treatment of commercial facilities and com. mercial expansion in China was referred to in the directors' report, and until the Government of that country had been completely reformed and transformed, it was not likely that those oncerned in the anbject would obtain what the commerce of Great Britain was seeking. There was no doubt that a much larger trade might be done if the facilities were accorded to British commerce which those interested in the matter had a perfect right to expect. If the opening ap of the Upper Yangtze and the West River had not been attended with results which might have been expected, there was no doubt they would do much better later on if the obstructions. put in their way by the native authorities were removed. The fleet was in excellent condition, and with the new vessels added to it had been meeting with a considerable amount of employ.. ment at good profits.
With the depreciation that had been written off from year to year, the steamers now stood in the company's books at about £11 per too, which was a low average to take the mat. The amount to be collected by sundry debtors in China had since been greatly reduced. The business was going on well and prosperously, and he had still every reason to hope in the future they would yield a better average result to the shareholders He concluded by proposing the adoption of the report and accounts.
In presenting to them the report and balance sheet, they could not fail to be very satisfactory to the shareholders; 1898, he believed, was the best year they had had; although in making comparison it must be borne in mind that the increase in the gross earnings was in some measure due to additions made to the fleet. It was satisfactory that these additions which had been made were earning profits for the company. The tonnage in Chinese waters was very large, and it might be they would have to encounter fresh competition from German aud Japanese lines of steamers which have been organised or projected. The net earn- ing enabled the company to distribute 8 per cent, though it had been decided to declare this as 6 per cent. dividend, and a bonus of 2 per cent. It seemed to the directors that the time had come that they should make an attempt to snsure greater regularity in their dividends. Some surprise had been expressed at the directors carrying forward such a large amonnt (£19,000). Their reason for doing so was to provide a fund for the equalisation of dividends, so far as that could be attained. Their position later on might not be so good as hitherto, and therefore it was desirable that they should have a fund to provide for these difficulties. In the balance sheet they still retained the exchange reserve account in case of any further decline in the stert- ing value of the dollar, They had also a satisfactory reserve tb the credit of underwriting account to enable them to bear any probable losses which might happen. He regretted that all the efforts which they had made to induce the Government to effectually take up the Koushing matter had been un- successful. They had done everything they could in this direction, and it was quite clear
:
Mr. William Keswick, M. P.. seconded tha proposition, which was carried unanimously, as also was the dividend and bouds.
William
re-
The retiring directors, Messrs. Keswick and James MacAndrew, were elected, and the auditors (Messrs. Turquand, Youngs and Co.) were reappointed.
A vote of thanks to the chairman and staff terminated the proceedings.,
BYD AND 00., LIMIT-D
Directors for presentation at the eighth annual The following is the report of the Board of general meeting to be held in the Board Room, Pootung, Shanghai, on 7th July,
In submitting their report with statement of account for the year ended 30th April, 1899, the directors congratulate the shareholders on the continned prosperity of the concern.
The net earnings for the year, including the amount brought forward from last acconut, tỏ- gether with the returns on investments, after allowing for all known liabilities, staud at ils. 178,718.15. Less directors' and auditor's lees is Tls. 2,300.00, total Tis, 176,418 15.
The reserve fund stands at Tls, | 220,000, and the directors propose to add to it the sum of Tls. 30,000, and to make over appropriations as follows:-
1st Amount to be placed to reserve Tle.
fund
30,000.00 2nd-Amount to be placed to main--
tenance and depreciation account 15,000.00 3rd-A dividend of 12 per cent, and
2 per cent. 14 per cent on 7,800 ordinary shures
........... 109,200.00 4th A dividend of 78 per cent. on 200 founders' shares (2 per cent. on 7,800 ordinary shares) 5th-Amount to be carried to new
account
15,600.00
6,618,15
Tis, 176,418.15
In accordance with clause 98 of the particles of association one of the directors Mr. James self for re-election. Johnston, retires, but being eligible, offers him-
The accounts have been audited by Mr. J. D. Thorburn, who offers himself for re-election.
PROFIT AND LOBS A000UST. Dr.
28th June, 1898.
To reserve fund, 1898. To maintenance and depreciation account,
1898 To dividends paid on 7,800 ordinary
Tis. 15 per share
Th 80,000.00
15,000,00
117,000,00
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