April 20, 1901:]
Again, the site which has been selected will be ocompied as a timber yard and coolies' quar. ters. This will not only be most dangerous to the neighbouring houses in case of fire, but the timber will prove the best hiding place for thieves and other bad characters. It was not long ago that some thieves robbed the adjoin- ing military married quarters and hid their spoil in this very locality.
The Chinese coolies will also accommodate themselves and utilise the place as a "private" latrine, and it must not be forgotten that this site is immediately overlooked by the married quarters and other respectable Chinese family houses close by..
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327
about the land and house
Mr. Pablane—May I ask, Mr. Chairman, erty? It seems
inder
a very small item in the assets.
possessed of very extensive concessions both of the impression that the old company was tobacco and timber land. It seems to me such a very small item that I don't quite understand it.
Mr. WHEELEY-We have only about five or six town lots in Sandakan and about 7,000 mores of tobacco land on the Kinabatangan River. The tobacco land was given na at simply nominal value, and two-thirds of it is always under water.
I thought the old Company had more extensive Mr. PARLANE-It seems such a small item: concessions.
CHINA OVERLAND TRADE REPORT. made steady progress, and much credit should be given to our Managers there for the way in which they have overcome the difficulties they have had to encounter in training raw hands for the peculiar work required at the kilns, etc. At Deep Water Bay, we have gone on pulling down the old brick and pipe kilns and replacing them by larger and more economical ones, and, although on a moderate scale, the result is certainly satisfactory. The question of labour has given us some trouble; the cost of living, as you know, has risen greatly in the Colony of late, and it has been impossible for us to keep our best men by us without increasing their pay, and The Sanitary Board has been bothered of course higher wages means greater cost of enough by complaints from Kowloon, and surely production. It is only a case of supply and de-amount at which it is entered in the Company's Mr. WHEELEY-The land is well worth the it does not wish to be bothered again by command, but in spite of those gentlemen who write books. plaints from this quarter.
and talk so glibly of China's teeming millions, Hoping these few lines will be sufficient to I cannot see that, in this Colony at any rate, induce the authorities concerned to take im- the supply of labour is at all keeping pace mediate action,—I am, yours, etc.,
with the demand. Turning to the Accounts, there is nothing that I can see that requires explanation, but I may remark that we have no longer any credit balance at our Bankers, recent payments on account of the new extension at Hok Un having absorbed it all, and left a balance on the other side, which will be made still larger when our Dividend of nearly $80,000 is paid. Before moving the adoption of the report and accounts, I shall be pleased to answer any question from shareholders,
No questions being asked, on the motion of the CHAIRMAN, seconded by Mr. LEIGH, the report and accounts, adopted and passed.
as presented, were
PRO BONO PUBLICO.
GREEN ISLAND CEMENT CO., LIMITED.
The twelfth ordinary annual meeting of shareholders in the Green Island Cement Co., Limited, was held on Saturday, the 13th inst. Mr. R. Shewan, chairman, presided, and the other geutlemen present were-Messrs Hon. C. P. Chater, C.M.G., D. Gillies, C. Ewens (consul- ting committee), A. Babington, R. K. Leigh, R. C. Wilcox, T. H. Reid, Fung Wa Chun and Sui Un.
The CHAIRMAN said-Gentlemen, printed copies of the Report and Accounts have been in your hands for some days past, so, if you have no objection, we will dispense with reading them now. A profit of about $111,000, as against $70,000 last year, is satisfactory, bat our Dividend appears smaller as it has to be paid on the much larger capital of nearly $1,030,900. We had the benefit last year of the first installation at Hok Un, though not to its full extent, while the second instal- lation, for which fresh capital was subscribed by you, a year. ago, will not, owing to the difficulty of getting machinery made at home in anything like reasonable time, be in a posi- tiou to turn out any cement before next July
at
Mr. WILCOX proposed, and Mr. FUNG WA CHUEN seconded, that the following gentlemen be re-elected the Consulting Committee, viz :- Messrs. Chater, Ewens, Dickson, and Gillies.
Carried.
Messrs F. Henderson and W. H Potts, who audited the accounts last year, were re-elected for the ensuing year, on the motion of Mr. REID, seconded by Mr. CHATER.
The CHAIRMAN-That is all the business, gentlemen. I am much obliged to you for your attendance. Dividend warrants will be ready on Monday.
CHINA BORNEO CO., LIMITED.
read,
The notice calling the meeting having been
CHAIRMAN proposed the adoption of the report There were no further questions, and the and accounts as presented.
Mr. WICKHAN-I beg to second the chair- man's motion. The thanks of the shareholders are due to the consulting committee and the manager for the most excellent report that has been presented.
The motion was carried unanimously
by Mr. Parlane, the Hon. C. P. Chater, C.M.G., On the motion of Mr. WICKHAM, seconded was re-elected to the consulting committee.
Mr. F. Henderson was re-elected auditor, on the motion of Mr. Bartista, seconded by Mr. Parlane.
The CHAIRMAN-That is all there is to sa gentlemen, except that dividend warrants will kindly apply at be obtained on Monday. Shareholders will
at the of
office here for them.
CHINA LIGHT AND POWER
CO., LIMITED.
A statutory meeting of the above Company was held at the offices of the General Managers, Messrs. Shewan, Tomes & Co., on Saturday, the 13th inst. There were present, Messrs. R. Shewan (chairman), D. Gillies, Fung Wah Chun, A. Babington, A. Reid, J. M. McMurtrie, and J. Duff (secretary).
been read,
The notice convening the meeting having
The CHAIRMAN said-This Company was, the earliest, and when everything is holders was held at the company's offices, 4, ary, and this meeting is therefore held in ac. The second ordinary yearly meeting of share as all are aware, registered on the 25th of Janu- ready, it takes so long to train and educate the burners and other men for their special 13th inst. Mr. A. G. Wood, chairman, presided, a meeting of shareholders within four months Queon's Buildings, at noon, on Saturday, the cordance with the law which requires us to hold work that it will be at least another year and there were present the Hon. C. P. Chater, from that date. Electric Light Companies re- before the last kiln is burning. You will couse- C.M.G., Mr. E. Osborne (consulting Committee), quire as a rule rather a long time to grow to quently understand that, although we are pay- and Messrs. C. 8, Sharp, W. Parlane, W. H. fruition, so much time being necessarily consumed ing a dividend this year on a capital of roughly Wickham, O. Baptista, and J. Wheeley, in making the installation, but as regards Can- $1,000,000 at least $250,000 of this has been manager. quite unproductive. Under these circum-
ton, we are fortunate in that respect, as we took stances, I think that shareholders should find
over a going concern there. It is true it was not the report a satisfactory one, and I feel sure we
going very well then, but I am pleased to say that The CHAIRMAN said,—Gentlemen, the report things are different now. We had, of course, may look forward with confidence to the future and accounts have now been in your hands for to make drastic changes from the former Chinese of the Company. Our new kilns have con- some days, and I presume there is no objection regime, and much time was, of course, lost in tinued to give us more and more satisfaction, to their being taken as read. The Company's doing this and getting fresh supplies of material, their output this year having been siderably beyond our highest estimates. The the troubles in North China, which interfered and we shall be k pt busy, for some time to con-operations during the year, notwithstanding etc., from home. These latter have now arrived, quality of the cement itself is now admitted with local demand for some months, show a come, in fitting up further installations for the to be of the highest, and no better proof very satisfactory result, and we hope you will now orders we have in hand, both on Shameen of this can, I think, be given than the approve our recommendations as to the dis and in the Chinese city of Canton. On fact that the builders of the new Admiralty posal of the sum at credit of profit and loss; Shameen the lighting is, of course, on a limited Dock have made a contract with us and are using the cement freely under the most result of two years' working, and we have of our doing a large and growing business, as this sum ($72,189.90) is, as you are aware, the scale, but in the city there seems every prospect severe test conditions as to tensile strength, &c. recommended the somewhat large dividend of in consequence of the fear of fire, which very As for markets, we would not of course have 25 per cent, on the subscribed capital, in con-naturally haunts the minds of the shopkeepers, recommended the fresh extension at Hok Unsideration of this. The volume of this Com-sto, in that crowded town, the Electric
pany's business, like most others, depends on Light is growing in popularity supply and demand, and is consequently subject day. To such people as the proprietors to fluctuation, and we think it policy to of theatres, restaurants, flower-boats, etc., provide for this, and for this reason we and to all those in trades which require have recommended a fairly large sum being late hours, the advantages of our light over carried to reserve; and I have no doubt share kerosene are obvious; but Chinese-like, they holders will agree to s continuance of this policy waste time in the endeavour to drive a when results permit, which must strengthen and beat down our prices. The dema the Company's position and safeguard share such sources in a city like Canton holders' interests. I am glad to be able to say very great, and produce a good that, so far, the result for the current year is Company when all the ne quite satisfactory. The various properties have and installations are complet been well maintained, and are all in good order. that the Company now de Finally, I have again to say that we are indebted from contracts to supply for these good results to the excellent manage-guishing ment of Mr. Wheeley, here, and Mr. Darby, in the city in the Sandakan, who have thereby earned our warm a branch of our acknowledgement of their services. Before and a little expenditure proposing the adoption of the report and ac- | be enlarged considera counts. I shall be glad to answer any questions, · rather at Hunghom, we are
had we felt any doubt on this subject, nor do we feel any now. We are selling to-day all we can make, and could sell more, and if we may at first have to accept lower prices in order to get in on new markets and dispose of our increased production, we shall not have to do so long. In this Colony, I am glad to say we have pretty well overcome the competition of cheap cement from home, and I have no doubt it is only a question of a little time before our friends elsewhere will appreciate the advantages of using a bona fide Portland Cement of the best quality, in place of low. grade Japanese and other kinds. At Macao, we have succeeded in adding a few improve ments, bat our limit of output has been reach- ed, and except in the way of economising the cost of making, there is little more that we can do there. At Hok Un, in spite of troubles which are all in the day's work, we have
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apparatus to
every
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