July 22, 1899.
CHINA OVERLAND TRADE REPORT.
L
CORRESPONDENCIO A
We do not hold ofiršelves responsible for the gopinions expressed by our corrispynulénia.:]/
ARTACAO ON THE REBELLION IN THE PHILIPPINES.
2.With the number 6 placed before the Tls. 27,100.71, and are still adding, so as to en- out of current profits. So enormo last olause in the said Memorandum of able us to produce work as cheaply and quickly of net strength in so short a time Association beginning the Capital of as the most modern works at home. Our plant unparalleled in the reords of . the Company and with the latter is as modera as any here; we have got it up to does very great credit to the man portion of such clause beginning with date, and I have no doubt Mr. Colin Buchanan the British Government fully hold t the words with power to divide " down can endorse that.. If you pass the resolution ¦ is evidenced by the well-deser to the end of the clause eliminated. as regards the appropriations, our reserve fuud | recently conferred on the head "3.—With the words “as the General Meeting will then stand at Tis. 250,000, and which, as Thomas Jackson.—Chinu Gasette.
resolving upon the creation thereof shall you will notice, is with the maintenance and direct and if no direction be given" in depreciation fund invested in the business (not sorted in Article Number 37 line 2 of in stock of the Company) with the exception of the said Articles of Association between Tls. 69,602.08, as you will see by the accounts, the words "annexed thereto " and the and these stocks, etc., are worth at the present words as the Directors shall deter-market rate Tls. 92:527.10. We shall have paid mine."
in dividends (if you pass the accounts) since the "4-With the words " (if any)" inserted be starting of the Company eight years ago Tis, tween the words "sums and 88 and 858,000, or Tls. 58,000 more than the capital, sud the words "in General Meeting" inserted worked up a reserve fund of Tls. 250,000, which between the words Company' and I consider very good. Mr. Jas. Johnston retires "may" in Article Number 74 line 3 of from the Board, but offers himself for re-election. the said Articles of Association.
The Auditor (Mr. Thorburn) also retires, but With all the words after the word shall" offers himself for re-election. Before moving in line I of Article Number 109 of the the adoption of the report and accounts, I shall said Articles of Association eliminated be glad to answer any questions you may wish down to the end of the Article and with to ask. the following words inserted instead thereof "three days at least previously to the meeting be served on the registered holders of shares in the manner in which notices are hereinafter directed to be
served."
11
"And that pursuant to the provisions of the Companies (Memorandum of Association) Ordinance 1890 the form of the Company's constitution be altered by substituting such Memorandum of Association with extended objects as therein set forth (after making the before mentioned alteratio as ther-in) and such Articles of Association (after making the before mentioned alterations therein) for the Company's Deed of Settlement dated the 29th of August 1963 and for all regulations of the Company subsequently made and now in fores and that the Directors be authorised to apply to the Court to confirm this resolution under
the said Ordinance."
Mr. PETER seconded, and the resolution was carried without comment,
BOYD AND CO., LIMITED.
There being no questions the report and ac- counts as proposed and seconded by Mr. Johns- ton were adopted nem, con.
Mr. Thorne proposed, Mr. Drummond Hay secouried, and it was carried that Mr. James
Johnston be re-elected a director.
Mr. Buchanan proposed, Mr. Ferrier seconded and it was carried that Mr. J. D. Thorburn be re-elected additor.
The Chairman-That concludes the business, gentlemen, and we thank you for your atten. dance, I would like to direct your attention to the portraits of Mr. P. V. Grant and the late Mr. Robertson, which we have just received from home..
TO THE EDitor of thE DAILY PRESS.
Dear Sir, I take pleasure to hand you with a declaration of my political view regard to the present rebellion in the Philip, Pines for you to make public through the columns of your valuable paper if you consider it worth publishing – Yours faithfully, joi
ISABELO ARTACHO.. The undersigned re outly arrived from thi Philippines, with residence now sin. Victoria. Hongkong makes oath and says 1A U TUC
I-That his name is Isabelo Artacho, and that he is a native of Vigan, the Capital town of the Province of South Ilocos, LasCH Philippine Islands.
the Philippine Islands, but is ready to give his 2. That he belongs to no political partyzin
support to any party having for its object, the emancipation of the Philippines from alasmy in any shape or form, from whatsoeverź zourCH it may proceed.
3.—That in order to obtain this object uba Mr. C. Thorue thought the least that could be done was to tender the Directors and staff a
believes revolution is justified, provided it pro ceeds from motives that are not mesa unjust, vote of thanks for the highly satisfactory state of affairs, which was manifestly due to the care
or barbarous, and only after all peaceful crime. fal manner in which the business of the Com.sures that human sense and justice can dietate
have been employed and exhausted. :- pany had been carried on. (Hear, hear.
Mr. Jas. Ferrier seconded and the proposition was carried with acclamation.
The Chairman having replied the meeting
concluded.
BANK.
with his whole heart, he prizes it with ex
4.—That as a true Filipino, adores, hiso
fondness; but at the same time thesisɑcónfi Bleu” that real patriotism, real love of ane's country does not cousist in ignoring its sluferta/änd making exaggerated statements of its sinker
nesses and shortcomings and, in utrying, to remedy or eradicate them and to show the way to prosperity and progress, ring natu
The eighth annual general meeting of the THE HỎNGKONG AND SHANGHAI | strength, but in honestly recognising its wink shareholders in this undertaking was held on 7th July in the Board Room, Pootung, Shang- bai, Mr. John, Prentice (Chairman) presiding. Those present were Messrs- Charles W. Hay, James Johuston (Directors). Colin Buchanan, Jas, Ferrier, Drummond Hay, C. Thorne, E. U Smith Rufess Eastlack, Hunter, and J. H. MacLaren, representing 6,736 shares.
The Secretary (Mr. Jas. H, Osborne) having read the notice convening the meeting.
The Chairman said-The report and ac- counts having been in your hands
for some time, with your approval we will take them as read. The Directors again con- gratulate the shareholders ou the continued success of the company, and as you are pro- bably aware they are the largest shareholders and have kept their interests all through, not simply bolding shares to qualify them as Dir ectors, you may depend your interests are theirs, and are being well looked after. I mean to infer that none of the Directors have sold their shares, but have rather increased their holding The net earnings for the year are Tls. 14,397.29 less than last year, but this is accounted for (as we have done more work than last year) by the increased cost of material and enhanced wages with
no corresponding rise in prices for work. The amount for appropriation after deducting Directors and Auditor's fees is Tls 176,418.15 and this with your approval we propose to devote as follows
S
Place to reserve fund...
Place to maintenance and deprecia-
tion
..
Tls.
30,000.00
15,000.00
|
poration has come to be regarded as the back. The Hongkong and Shanghai Banking Cor- bone of Angle-Saxon commerce in the Far East; and, by those whose interests here lie, the Bank's half yearly reports are studied with eager interest. They are our commercial baro- meter.
<
Subject to andit. the profits for the half year euding 30/6/99 will be divided as follows- Dividend o
£1/10/―ou 80,000 shares about $1,225,000-Reserved, $1,000,000.-Written off Bank Premises, $250,000.-Added to "carried forward," $115,000. $2,590,000. Carried forward to new account Total profits about $950,000 of profits.
Including above amounts, in the last three has paid. or set aside.-Dividends, £9-Re- years the H. & S. B. C., out of current profits,
served. $5.000.000-Written off Bank Premises, $800,000--Increased "carried forward" $800,000) of profits.
|
|
affirms, far from aiming at the true emancipan 5.-That the present rebellion, he confidently
tion of the country, is carried on to igralify personal political ambitions, mean and spariens affections. in order to perpetrate mil falu că mă punity under the guise of a so-calladi system established under the name ofsi public, acts eminently barbarous, tres and despotic, and crimes unknown in the of penalties throughout the world wi
6.That the present reballion against
America, while having for its profeused objðat sovereignty of the United States of North
the absolute independence of the people of 4 Philippine Islands, is in reality a movemen
slavery-domestic slavery and to place in the. bring the people under the most intolerably
hands of an invidual the sacred attributes of God-Country King Dios-Potm-Hay)
7.—That the present rebellioua: MIKYMM and per the Chairman's speech thereou to the elements in the inhabitants of the
Moreover, per last printed report, to 31/12/93, does not bare the support ofis shareholders, we learn the the reserve fund those who are free to exercises mico (the $10,000,000, now $11,000,00) was almost honest discrimination, for they 200 entirely invested in gold; which, cat of profi s that instead of bringing them then specially set aside, had been written down, as to happiness and prosperity the assumption Consuls, to about $2,000,000 less than its pre-independence will lead to self-murder, feri
state of chaos that will result will bring miser and ruin to the people.
sent market ralne.
Then again, the Bank's many freehold Pre- alises in the East are worth fally $3,000,000; but after dedacting the $250,000 from profits to 30/6/99, said, premises, now standing at $257,000, Pay a dividend of Tis. 14 per share..109,200.00 | have been paid for partly out of working ac- will probably stand at nil. These premises Pay a dividend on each founder's
count, and partly out of profits specially set share of Tls. 78
15.600.00 aside. Apparently the money so set aside is
6,618.15 invested in gold.
Carrying forward to new account
Tls 176,418.15
Yon will notice we have it creased our plant account by the addition of new machinery by
Six and a half years ago the H. & S. B. C.'s reserve fund was only $3,300,000, as against Moreover this increase has not been made out $11,000,000 now (after accounts are passed.) of premia on the issue of new shares, but solely
8-That consistent with his convictio ideas, as all free and constant, men shoul he has confidence in his heart that the and generous United States of North whose governing institutions haway basis the principle of the most ampl of thought in all its manifestation. and justice, will establish her s01 the Philippine Islands.; in stocor the obligations to which she thas
peace and order in the Phil self before the world, inter i
establish liberal institutions there
No comments yet.
Private notes are available after approval.