1
April 26, 1902.]
or.
.
Sir Rutherford Alecek are în any form preserved; while in the nomenclature of various streets and roads the memory of many who might well be "on the list are boldly recorded. Not a single street or public place or monument recalls the men who stood in the forefront and bore the burden and bent of the time. This is not as it should be. Shanghai, to her credit, has a statue of Sir Harry Parkes on the Bund, but how much more appropriate would it be for this Colony to have a worthy memorial of one who has done more, in the acquisition of Kowloon, for Hongkong, than any other mar.
CHINA OVERLAND TRADE REPORT.
COMPANY MANAGEMENT.
TO THE EDITOR OF THE "DAILY FREES."
Hongkong, 19th April.
SIR. The Directors of the Star Ferry Com- pany Limited, are making a call on holders of shares in their concern. They also add that they will charge interest, at the formidable rate of 12 per cent, per annum, on all calls that remain unpaid after May 1st. This is, of course, in strict accordance with the terms and conditions of their Articles of Association-quite legitimate and above board.
i
I fear Hongkong does not concern itself
This eminently prosperous Company's work- much with what has gone before, but I thinking year ended 31st December last; but, so far, that if people would, to the neglect of the no dividend has Leen publicly declared. On popular kind of literature, take up the English- the plea that what is sauce for the goose man in China or the Life of Sir Harry Parkes is also sauce for the gander, would it not be they would find their reward in the equitable of the Company to add to the dividend, when it is paid. interest at the rate of 12 per cent. per sunum, say from February 1st, which would then allow the reasonably ample margin of a calendar month in which to have prepared their balance sheet and report? The money referred to has not been lying idle on their hands: and the interest accruing thereto is, as far as the Company is concerned, an unearned and illegiti- mately gotten increment. The leisurely manner in which the business of certain local companies is conducted is very far indeed from being what it should be.
fascination of the books. The stories of the lives of the men there set forth ought to be a tonic, and I fancy that it would rather surprise them that no fitting memorial of their services is any where in ev dence in Hongkong. Why should Hongkong not be able to afford a statue as well as Shanghai? And could there be a more appropriate site than near the Clock Tower vis à vis Kowloon ? If not statues, then bronze medallions in the side of the Tower with appreciative inscriptions; it would seem to be an act of right doing-although tardy-to put such a matter in train.-Yours, &c.,
THE PROPOSED BRIDGE TO
KOWLOON.
1
L.
13
TO THE EDITOR OF THE "DAILY PRESS. Hongkong, 22nd April. SIR, After gasping awhile over Capt. Rumsey's proposal of a bridge over the harbour, when breath returned the project seemed to me to take feasible shape. The more one thinks of it the more practicable it appeals The build ing of the bridge presents no engineering dif- ficulties: the Victoria Bridge at Montreal was a very much greater undertaking, and now, being found inadequate, is being replaced by another. It is only a question of dollars. Objections in regard to impediment of navigation have been already partially dealt with; such othors as may crop up will be met in an equitable spirit. The advantages are so manifest that it seems a waste of time to repeat them. Fancy bringing an unlimited supply of water from the Kowloon range of bills to the island! The aqueducts of Rome flood that city eternally with pure fresh water and every fountain runS every day in the year, all supplied by the neighbouring hills, while Father Tiber slugs along his muddy stream to the sea because " no man wanchee." Where the bridge breaks, ie, where the drawbridge will be, the pipes can dip into the harbour and rise on the other side; there will be no fear there of vessels dragging their anchors over the pires. Cables, either telegraph or lighting, could all be carried over that safe track.
Then again we would be free from the extortion of laving to pay 15 cents for a passage which really is not worth it; the new Electric Tramway would run their cars over the bridge, and Kowloon would become so easy of access that it need not much matter where one lived, one could get to and from business in reasonable time.
As I said before, cash is the question. It would not be fair to the present generation of residents to expect them to pay for a bridg⚫ Fintended for the benefit of posterity: what has psterity done for us? said the indignant querist; but the cost of it might be spread over, say, fifty years which is about the limit of time as expect to stay here, providing wo
lucky.
o I. back the scheme. The approach to bridge might be near Murray Pier, but affects and civil engineers would submit plans, and it is hardly worth while bering into these questions as yet: it requires ime Individual of influence in the Colony who hes to perpetuate his name and benefit his Allowmen, to take the matter' up sealously; then perhaps some of us some day may live
it.Yours, eto
ENGINEER.
Thé accounts are as follows:-
BALANCE-SHEET.
į
For the year ending 31st December, 190!.
Capital account ---
LIABILITIB?.
15,000 "A" shares at $5 45,000"B" shares $225,000,00 1ess unpaid calls on
1 share at $1.50 & 1,196 at 50 cents.
Accounts payable
$75,000.01
329
ន
C.
599.50
224,400.50
209,400.50 268.90
$299,669.40
ASSETH." Cost of Olivers pro-
perty
$50,000.00 Cfat of Eureka Mine. 35,000.00
$85,000,00
Enreka main shaft, as last account 32,397.04 fold lots 105 and 308. Works, buildings, and fixed
plant,, as last account Two-thirds cost of air compress.
ing plant
live stock Stores on hand Movable plant
Cash in Hongkong and Shanghai
Bank Cash in Union Bank of Australia,
Sydney Cash in hand.
Accounts receivable
Dr.
4,279.19
40,927.60
14,072.54
— 176.676.37
$138.09
2,204.67
4,769.02
7.411.78
$1,721.56
202.$2 74.42
WORKING ACCOUNT.
To balance brought forward. To office charges and stationery.
To assaying To application fees and rent of gold leases To travelling expenses and telegrams To general managers' and anditor's fees To mining management.. To general charges
Moreover, why should documents appertaining Balance at debit of working account to the Star Ferry Company be issued in envelopes that are embossed "The Hongkong and Kowloon Wharf and Godown Company, Limited, Hongkong"? The Ferry Co. is per- frotly able to pay for its own stationery. The fact that the Secretary of the on is also Secretary for the other, is not sufficient explanation of this anomaly. The two con- cerns should be run quite separately. Practical- ly all my communications from the former business have reached me in the covers of the latter. I should not be greatly surprised if I got my dividend warrant, eventually, in a "Hongkong Hotel Company's" envelope or even in one from "The Steam Laundry." It is quite possible to have over many irons in the fire at one time.Yours, etc..
SHAREHOLDER.
TO THE EDITOR OF THE "DAILY PRESS
Hongkong, 24th April. SIR,-In reply to "Shareholder's" letter in your issue of yesterday's date, I think he might at any rate make certain of his facts before making statements sud rushing into print. For bis information and any other shareholder's, and in fairness to the Star Ferry Co., the work- ing year ends on the 30th April and not December as erroneously stated by him.
To cost of mining, milling and crushing T development account
Cr.
By gold account, proceeds of gold won By rent of cottages.... By interest
By transfer fees
By royalties
By balance
A....
1,998.80 462:36
113,120.09
$299,669.40.
$ CA 13,211.38
84,71* 437.71
£23.04.
1,150.79
1,600.00
4,900.55
341.92
56,943.70 90,337.68
$169,237.48
$
55,390.96
114.47
321.21
4.00
286.75
113,120.09
$169,237.48
QUEEN MINES, LIMITED,
The following is the report for presentation to the shareholders at the third ordinary meet-
1sting, to the held at the Company's Offices, on
the 25th April, at 11 30 a.m.
This, sir, is sent on the plea as set forth by Shareholder," "what is sance for the goose is also sance for the gander."Yours, etc.,
vi
ANOTHER SHAREHOLDER.
OLIVERS FREEHOLD MINES,
LIMITED.
The following is the report for presentation to the shareholders at the sixth ordinary sunual general meeting, to be held at the Company's Offices, on the 25th April, at noon-
Gentlemen.-We beg to lay before you the report and statement of accounts for the year ending 31st December, 1901.
The Eureka Mine. The developments at the 500 feet level proving most unsatisfactory, operations on the Company's account had to be suspended in June last. The Mine was then let on tribute to Mr. Whear. Roberts and has been worked by bim, at bis-own expense, up to the present date, but with most disappointing results. The battery and plant generally have been kept in good order.
Up to the time of shutting down the mine 2,70 tons of ore had been milled for a yield of 1,430 ozs. of smelted gold, value $55,390,96,
AUDITOR.
The accounts have been audited ly Mr. W. Hutton Potts, who offers himself for re-election.
JOHN D. Humphreys & SON,
General Managers. › Hongkong, 16th April, 1902. · ·
|
Gentlemen, We beg to lay before you the report, and statement of ac ounts for the year
ending 31st December, 1901,
The mine has been shut down for the whole` of the period under review, consequently the accounts are practically the same as those last presented to yon.
AUDITOR.
The accounts have b en audited by Mr. W Hatton Potts.
JOHN D. HUMPHREYS & Sor,
General Managers.
Hongkong, 16th April, 1992.
The accounts are as follows:-
BALANCE-SHEET. For the year ending 31st December, 1901.
$ Capital account :~~-
LIABILITIES.
400,000 shares at 25 cents each Accounts payable
Cost of property
ASSETS.
One-third cost of air compress-
ing plant...... Fixed plant
100,000.00
161.34
$100,161.34
8 27,000.00
147
$7,036.27 5,974.12
18,010.39 Olivers scrip 2,000 “A” shares (face value) 10,000.00- Cash in Hongkong & Shanghai Bank $919.92 29.24 Cash in hand Cash in Union Bank of Australia... 106.19
Falance at debit of working account.
450
$100,181.34
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