94
MANILA.
[FROM OUR CORRESPONDENT.]
THE TRUE STORY OF THE PEACE PROPOSALS -TWO LEADERS STRIVING FOR POWER.
Manila, 23rd July.
The recent political vagaries in Manila of Pedro Paterno,a prominent insurgent, have re- ceived but little comment in the Spanish local Press, because the American Press censor has prohibited the publication, both here and in the United States, of this man's strange doings. Paterno's liberation from jail for the purpose of working on the peace proposi tions begun by Filipe Buencamino, his im- mediate publication of a most remarkable document in favour of Filipino independence, his subsequent reincarceration and the fact that he then took the oath of allegiance to the United States and was freed, but declined to accept his liberty, electing to remain in jail at American expense, reads much like an act from a burlesque comedy.
Paterno came to Manila about three months ago from Vigaw: he says he surrendered volun- tarily, the army reports that he was captured. In Manila he was placed in Anda Street jail, along with Buencamino and other political prisoners. While in Anda Street, I think. he meditated political coups, sin 1.1 1 lish by Mr. Ollendorf's method and lived well at American expense, When General Otis left Manila he liberated Buencamino with
to
THE HONGKONG WEEKLY PRESS AND
[August 4, 1900.
HONGKONG AND SHANGHAI BANKING CORPORATION.
he following is the seventieth report of the court of directors to the ordinary half-yearly general meeting of shareholders to be held at the City Hall, Hongkong, on Saturday, the 18th August, at noon.
and Stripes flying by its side. After many printed columns of rules for the future restric- tion and guidance of the United States in Phili- pine affairs, by which he practically limited the power and control to the protection of the inter- national relations of the Free Filipino State," Paterno remarked that when the Americans had conceded the foregoing he opined that there would be peace. He announced a meeting in his house
Gentlemen,-The Directors have now to sub- for the following Sunday to discuss his new pro-mit to you a general statement of the affairs of gramme. As soon as the real nature and signifi- the Bank and Balance Sheet for the half-year cance of Paterno's utterances were made known ending 30th June, 1900. to the military authorities, they forbade the meeting in question and Paterno was hustled back to Anda Street jail and kept incomuni- cado. The Filipino people jump at conclusions; they do not always read carefully and reason clearly; and Paterno worded his document in such a way that the common people at once concluded that the United States had conceded to the Filipinos all that Paterno had asked for, and Paterno stock," as the man who had obtained these remarkably favourable concessions from the common enemy, boomed accordingly. On the streets natives talked volubly of the new "concessions," and said they had always known they could bring the Yankees to terms eventual- ly. And during these days there was much talk, of uprisings in Manila-explosive bombs were found in the street, houses were fired,
General Estrella and General Ricarte were captured in Manila, each boldly admitting they were here to manage an uprising, and Ri carte's followers passed pictures of Aguinaldo among the crowd at the Tondo market, whis- the understanding that he used his influence pering mysteriously that the time had come. with the Filipino people toward bringing about But this excitement died down. Paterno took peace. Buencamino worked away on these the oath of allegiance to the United States lines alone until about the middle of June. before the Provost Marshal of Manila. Col. when he realized that Paterno's influence would
Williston, and was given complete liberty. But be a good thing to have on his, Buenca- complete liberty did not suit Paterno; as long mino's, side of the undertaking; so permission as he was in jail he could pose before the people was obtained from General MacArthur for
as an oppressed martyr in the cause of li Paterno to leave his jail every day in order borty, and to do this is part of his scheme. more easily to confer and work with Buencamino. So now he voluntarily returns to jail every Paterno returned to Anda Street to sleep, how night, saying he will not leave Anda ever, and it was understood between MacAr- Street until every Filipino political pri- thur and himself that his efforts and attitude. soners, under American durance, has first been must primarily embrace the recognition of the 8st free. The prompt action by the American sovereignty of the United States in the military authorities stopped the spread of the Phillipines. On June 21st there occurred, with
Paterno propoganda, but they were too late to MacArthur's permission, the locally famous suppress the feelings of exultation among the meeting in Paterno's house, where some two
natives and the consequent depression resulting hundred well-known revolutionists met from their interpretation of the Paterno docu- discuss the terms of an honourable and dig-ment, and thus gave Paterno an excellent nified peace with the American army. Thirty chance to pose as a martyr for his country's in- of the 200 men present were liberated dependence. Notwithstanding this Paterno from Anda Street to attend the meet flare-up, Buencanimo has persistently and quiet- ing, and after a stormy and spicy session they ly gone ahead with his work; he has received resolved that peace could be obtained on certain from General MacArthur the latter's answer to set of eight bases, which that same evening were the peace propositons approved at the meeting handed to General MacArthur. The next morn- of June 21st and has embodied these, together ing General MacArthur was stricken with a with the terms of the ninety day amnesty and local fever, which prevented his attending to his some remarks of his own, in a pamphlet which official duties for nearly a week. This delay in is being distributed to the Filipinos in the pro- the proceeding was seized upon by the Filipino vinces, including Aguinaldo. The more level. enemies of Buencamino's plans (there were headed Filipinos and many Americans hope for American enemies to the scheme as well. a successful outcome to these peace proposi-
peace but these latter were passive) to start a hostile tions. But the idea has its Filipino enemies. campaign in the country, with the idea of fore- and but three days ago these gentlemen showed stalling the good that the Manila crowd hoped their fine Italian hand by suddenly causing to to accomplish. During the delay caused by the disappear the trusty messenger who Buen- American General's illness, Paterno sprang his carnimo intended should convey these proposal coup d'etat in the form of a most remarkable of peace and amnesty to Don Emilio Aguinaldo, and impertinent document, without reason, in whatever corner of the woods that gentle- without sequence, nor head nor tail, which
man may now be found. began with & quotation from a plan of Phillipine government once proposed by one James Creelman and ended with quotations from European statesmen, Gadstone, Von Moltke, Ferrari, etc., and which was nothing less than a seditious ples for Phillipine in. dependence, and it had a disquieting effect on the people. It was published simultaneously in all of Manila's Spanish papers, a method of publicity which insured its spreading through- out the entire archipelago. In this document Paterno set forth what he and his followers graciously would deign to accept from the United States in exchange for a cessation of hostilities by the Filipinos. He conceded the changing of the name " Filipino Republic" to that of Free Filipino State" as a sop to American national pride; he demanded the admission on a basis of equality of Filipinos into the American Army, Navy, and Consular Corps, he demanded the recognition of the Filipino flag but saw no objection to the Stars
**
$960,843,56, balance brought forward from last The net profits for that period, including account, after paying all charges, dednoting interest paid and due, and making provision for bad and doubtful accounts, amounts to $3,438,826.01.
In accordance with the intimation given at the last ordinary half-yearly general meeting, the Reserve Fund of $11,500,000, has been divid- and a Silver Reserve Fund of $1,500,000. The ed into a Sterling Reserve Fund of $10,000,000 Directors now recommend the transfer of 8500,000 from the Profit and Loss Account to credit of the Silver Reserve Fund, which will then stand at $2,000,000.
Col. Sir Norman Stewart, Bart., who will command the first brigade of the Chin. Ex- peditionary Force from India, is the eldest son of the late Field-Marshal Sir Donald Stewart, and only succeeded to the title a few weeks ago. He entered the army 29 years ago as a lieutenant of the old 68th, now the 1st | Durham Light Infantry. In the Afghan campaign he was aide-de-camp to his father, and obtained mention in despatches, besides receiving the brevet of major. His other war service was in the Soudan in 1885, when he served as deputy-assistant-adjutant and quar- termaster-general with the Indian contingent. For his services in this campaign he was pro- moted to lieutenant-colonel by brevet, and men-
tioned in despatches. Since the middle of last year he has been in command of the Hyderabad contingent, being appointed a colonel on the staff early in January of last year.
After making this Transfer and deducting Remuneration to Directors, there remains for appropriation $2,923.826.01, out of which the Directors recommend the payment of a Dividend of One Pound and Ten Shillings Sterling per Share, which at 4/6 will absorb $533,333.33.
The difference in Exchange between 4/6, the rate at which the Dividend is declared, and
1/114, the rate of the day, amount to $672,940.39. The Balance $1,717,543.29 to be carried to New Profit and Loss Account.
DIRECTORS.
Mr. A. McConachie having resigned his seat on leaving the Colony, Mr. H. W. Slade has been invited to fill the vacancy; the appoint. ment requires confirmation at this meeting.
AUDITORS.
The accounts have been audited by Mr. F. Henderson and Mr. C. S. Sharp.
N. A. SIEBS, Chairman. Hongkong, 31st July, 1900.
LIABILITIES,
C.
ABSTRACT OF ASSETS AND LIABILITIES, 30TH JUNE, 1900. Paid-up capital
10,000,000.00 Reserve fund :---
Starling reserve Silver reserve
Marine insurance account. Notes in circulation :—
Authorised issue against securities deposited with the Crown agents for the colonies Additional issue antho- rised by Hongkong Or- dinance No. 17 of 1899, against coin lodged with the Hongkong Govern-
mont
Current accounts:-
Silver
=
$ 10,000,000.00 1,500,000.00
C.
11,500,000.00 250,000.00
0.
10,000,000.00
1,353,419,00
63,900,416.25 18,744,171.93
11,353,419.00
82,644,588.18
35,733,130.76
Gold, £1,874,959.68.3d.
Fixed deposits :-
Silver Gold, £4,035,419.148.6d.: =40,330,456.99
Bills payable (including drafts on London
bankers and short sight drawing on London office against bills receivable and bullion shipments) Profit and loss account . Liability on bills of exchange re-discount- ed, £4,663,936.28.34. of which up to this date £3,127,200 have run off.
Cash
ASSETS.
76,072,587.75
25,250,153.38 3,438,826.01
$220,509,574.32
Coin lodged with the Hongkong Govern- ment against note circulation in excess of $10,000,000 Bullion in hand and in transit. Indian Government rupee paper. Colonial and other securities
Sterling reserve fund investments, viz. :--- £250,000 24 per cent. Con-
sols lodged with the Bank of England as a Special London Reserve, át 95 £237,500
£152,000 24 per cent. Con-
sols, at 90, £470,250).. £70,500 2 per cent. Na
tional War loan at 90, £470,250
1,900,000.00
4,702,500.00
26,782,994.52
6,070,000.00
4,878,482.44 1,825,550.89 5,947,808.34
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