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To conclude, Sir, like so many others, the author ignores the real services of the men but for whose exertions and traditional courage he and his fellow. residents would not be living, looks only on their trivial faults (which he magnities), and exalts other people at their cost. Such was to be expected, perhaps, from those who could not devote fire minutes to bidding farewell to the men who saved the Settlements at Tientsin, their residents from personal losses and horrors of war, which, fortunately, are unnecessary (for them) now to ever think of, but which were accomplished at the cost of 310 killed and wounded belonging to the British Navy.-Yours, etc,
LYDDITE.
THE UNIFORM QUESTION.
TO THE EDITOR OF THE "DAILY PRESS."
Royal Naval Hospital, Hongkong. SIR,-Would you kindly grant me a little space in your highly osteemed paper in which I should like to ask if the Queen's Hotel manager is privileged to bring ridicule on the King's uniform. On Sunday evening, some civilian friends and myself being over in Kowloon we went to have dinner in the above hotel. Before entering the dining-hall we went to the bar and had three liquors for which I paid and nothing was said. On going into the dining-hall the man- ager came over and objected to serve us because of my being in uniform. As this is the first time that I have met with this objection, and I have dined in nearly alt the leading hotels of So Victoria, I was naturally greatly incensed as to make sure that it was only the uniform, I questioned the manager, if I were in mufti, would I be served ? the answer was in the affirmative, so you see it could not be the man On being asked if the Admiral or General were to go in uniform whether they would be refused, he said "no," so on that side of the question it was not the uniform then which was the cause. As hotels at home have been threatened with the refusal of their license being renewed for the same thing, I should like to know if something cannot be done to remedy this and so prevent a repetition of the same. I should like to state that on being refused, we left the premises and pro- ceeded to the Kowloon Hotel where we were at
once attended to, and with the greatest civility. Hoping that this will meet the eyes of the proprietor and that he will see that no such insult to the King's uniform is offered again. — Yours, etc.,
PETTY OFFICER 1ST CLASS.
HONGKONG AND SHANGHAI BANKING CORPORATION.
The fifty-third ordinary half-yearly meeting of the shareholders of the Hongkong and Shanghai Banking Corporation W83 held on the 15th inst., in the City Hall. Mr. R. Shewan (chairman), presided, and the others present include d-Sir T. Jackson (chief manager). Hon. J. J. Bell-Irving (vice-chair- man), D. M. Moses, H. A. W. Slade, D. J. Kay mond, N. A. Siebs, E. Goetz, R. L. Richardson, H. E. Tomkins, A. Haupt, H. Schubart (directors), D. Gillies, R. C. Wilcox, Ho Tung, W. J. Saunders, S. A. Joseph, Capt. Tillett, T. F. Hough, H. N. Mody, Hon. C. P. Chater, VA. C. Hawkins, J. C. Peter, H. Humphreys, K. A. Chinoy, J. A. Chinoy, S. S. Benjamin, J. N. Goosmann, C. J. Gonsalves. A. Sharp, A Coutts, Lan Wai Chenn, Ho Fook, G. . Sharp, P. W. Witkowski, S. H. Michael, R. H. Potts, J. S. Van Buren C. S. Sharp, J. A. Jupp, T. H. Reid. G. H Potts, E. S. Joseph, Bhabba, J. B. Michael, Erich Georg, A. Ross, R. K. Leigh, G. H. Medhurst, F. Smyth, J. L. Houston. W. Lysaught, E. A. Hewett, P. A. Barlow, S. Hancock, M. Stewart, E. D. Sanders, C. Palmer, and others.
The notice covening the meeting having been read,
are
The CHAIRMAN said-Gentlemen, we glad of another opportunity of meeting you here to give an account of our stewardship to the 31st December last. The accounts admit of the usual dividend of £1. 10s, per share and a bonus of 10s, with 5 lacs to the silver re- serve fund, 2 lacs written off property and $1,438,248.07 carried forward to next half-year; A division of profits which I hope will meet
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[February 24, 1902.
(ap-
THE HONGKONG WEEKLY PRESS AND
{ with your approval. (Applauze.) Referring to their capital to the country from which in old the various items in the balance-sheet, notes days many of them retired with fortunes made in circulation are $445,082 more than they in tea and silk and shipping, and though it were last half-year. Current accounts in silver comes in the shape of competition with which show an increase of $14 329,441. Current we shall have to reckon we cordially greet the accounts in gold show a slight decrease of ad.ent of the Guaranty Trust Co. and the In- £117,823. Fixed deposits in silver show, anternational Bank of America, for we know increase of $4,601, 62. Fixed deposits in gold there is ample room for all. Not only the show a small increase of £219,877. We do places I have mentioned but Hankow and not attach much importance to the flactus-Tientsin have made great strides of late, tions in the deposit accounts but mentionand, with the great commerce that Japan has them as it is conventional to do 80. Bills created with the rest of the world, there is payable are $5,050,468 more, and finally, on the plenty of business for everyone, and the day is
account, credit side of the
profits are past when our friends of the Chartered Bank $3,879,09 .77, against $3,479,515.99 on the 30th and ourselves could be said to monopolise things of June last. (Applause.) Turning to the out here. Gentlemen, times change and the other side of the account, cash is $4 452,370 less men with them, and I cannot sit down without than stated in the last report, while coin lolged reverting to the next change that is impending I refer, of course, to the with the Hongkong Government against our for the Bank. extra nota circulation and bullion in hand and approaching retirement of your chief manager, trausit are $8,696,015 more. Indian Govern, Sir Thomas Jackson, the man who has done almost unchanged, say more for this Bank than any manager it ever ment rupee paper $2,009,196 or 3 st December against $2,043,783, had, who after retiring home came out again on the 30th June. Consols, Colonial and other when times were bad out here, and who, bit by securities show an increase of $2,352,603, mainly bit, has raised it to the present proud position owing to an extra amount of war loan bonds it now occupies in the banking world. and new consols temporarily held by us. The plause.) If genius be, as same one has said, sterling reserve fund investments are practically an immense capacity for taking pains, Sir unchanged. Bills discounted, loans and credits Thomas Jackson is surely entitled to the are $74,711,466 against $75 4 6,204 on the 30th name, for no one has taken greater pains or June. Bills receivable show an increase of more assiduously striven to promote the pros- $21,23,669, and finally on the debit side Bank 'perity and well-being of this Bank. (Applause.) premises stand at $730,205, against $719,503. Nothing, however small, that could affect the With the $200,000 proposed to be written off in Bank for good or ill ever escaped his notice, the present report, they will stand at $530.205. and since he became Chief Manager in 1876, It may not be out of place to mention that at nearly 26 years ago, he has risen early and sat the rate which we propose to pay the dividend late, in its and its shareholders' interests. (Ap- and bonus in all per share at 1/10 plause.) He has never yielded, as a weaker man $1,725,842. Against a similar dividend and would have done, to the temptation to make bonus on the 31st December, 1900, when the things look as rosy as possible and present the exchange was 2/1, say $1,536,000. Thus, in most glowing accounts he could. He has always consequence of the drop in exchange from 2/1 erred, if he has erred at all, on the safe side, to 1/10, it takes $189,842 more to pay the and if we can, to day, look with confidence and present dividend and bonus than it did twelve pride on the splendid reserves we hold against months ago.
Our Indian Government rupee any future evil days, we owe it to the strong paper, consols, colonial and other securities will and determination of Sir Thomas Jackson show a considerable margin on the rates they never to let the interests of the Bank bɔ saori- stand at in our books. The half year has been ficed to the mere desire of making a fine show a most satisfactory one for the Bank, which before the world. As it was put and carried in is in a stronger position to-day than it has the Parliament of Great Britain in regard to boon at any previous period of its history. Robert Clive, the great servant of the great (Applause) To all our managers and agents East India Company, so we may put on record we owe thanks for the good work they have here that "Thomas Jackson bas rendered great to this Bank, and done throughout the year, and to all the mem- and meritorious services bers of the staff of the Bank, by whom they when the proper time arrives your directors have been admirably supported and served, and will see that these services are duly and fittingly the year being one of the best we have ever acknowledged. (Applause.) As you are aware, had we have shown our recognition of such we have appointed Mr. J. R. M. Smith to suc- services by a bones of 15 per cent. on their veed Sir Thomas Jackson. Mr. Smith has had a salaries. Our action, I am sure, will receive long and varied experience of the affairs of the your cordial approval. (Applause.) The rapid Bank, having joined it out here in 1882 and last resumption of business in the North of China served it in the position of inspector. In making relieved us of many anxieties caused by the this selection, your directors were solely guided staguation there both during the period of by considera ions as to the qualifications of the renewed various candidates, not only mentally but phy- hosilities and subsequently. The activity of business in Japan was also another sically also, for it requires a strong man in every pleasing and profitable feature. As to the respect to undertake the responsibilities of such future, speaking generally I doubt if our pro- a post under the conditions of the climate und spects were ever better. Trade at one or two of life generally that prevail in this place. All of the older treaty ports may be slacker, the such claims as those of seniority, age, &c, were glory of the Chaa-Ŝze has departed and the made subordinate entirely to the one object we lustre of the silkman is perhaps somewhat had in view of obtaining the best and most dimmer, bat business in general articles of suitable man for the position. Your directors export has grown to very important dimensions; are pleased to know that their choice has been imports have almost doubled in the last decade, so heartily endorsed by yourselves and the and what has been lost on one hand has been public generally. If I personally have any more than regained on the other. The trade advice at present to give the new chief manager and population of Hongkong and Shanghai are it is to rigidly follow the policy pursued by Sir increasing by leaps and bounds, both places have Thomas Jackson of building up the reserves enlarged their borders and piles of offices and' of the Bank and to set his face like flint against streets of houses have arisen in places where the clamour of speculators for bigger and still they were never dreamt of before, yet still the bigger dividends, a compliance with which has many & prosperous concern. demand is unfilled, routs continue to rise and weakened another great reclamation scheme is talked of (Applause.) for Hongkong. And it is not only the influx of Chinese, the shrewdest, thriftiest, most industrious community that a commercial and Mr. G. H. MEDHURST, in seconding, said- industrial Colony like ours could find anywhere I feel sure that the report and accounts pre- in the world, that is the only cause of this sented to us by the directors, showing such state of things, but the eyes both of Europe satisfactory results, will meet with more than and America are now turned much more eagerly approval by the shareholders. The fact that towards us than of old, and both these quarters the directors are able to recommend the same of the globe are sending out their engineers dividend and bonus of £2 per share in the face and miners and capitalists to study and exploit of a fall in exchange of 11 per cent, during the the vast capabilities of the huge country that lies close to us, and towards whose markets we have reached little beyond the fringe. Our American cousins, I notice, are at last sending
No questions were asked, and the CHAIRMAN moved the adoption of the report and accounts.
past twelve months, whilst transferring a very substantial sam to reserve and writing down bank premises account, speaks volumes for the management. The payment of a bonus of 15
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