140
THE HONGKONG WEEKLY PRESS AND
THE CONCERT OF THE POWERS | China is unfortunately founded on blind
IN CHINA.
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(Daily Press, 16th August.) The elementary explosive nature of the present "Concord of Europe' does not seem to have been diminished by recent events. The close of the South African War, and the apparently genuine efforts of both Britons and Boers to forget their past differences and throw their lots into a common receptacle, do not seem to have evolved any corresponding friendly move on the part of the nations of the Continent towards one another in general, or towards Great Britain in particular. When we come to the Far East again, we find all these little amenities exhibited in their full development. It might have been expected | that Great Britain's honest attempt to bring about a commercial convention that would have tended to remove many of the disabilities under which trade in China is still suffering heavily, would have brought about some display of a common interest, and led to sonic mutual understanding on those points wherein all have a common interest. As well apparently might we look for the approach of the millennium or the evolution out of chaos of an Utopia, Although there is not a single stipulation in the proposed Treaty of Commerce which has been brought to a pint by Sir JAMES MACKAY and now only needs the ratification of the Peking Government and the arrep tance of the other Powers, in which any actual advantage is claimed for England or British trade which does not equally apply to all, we find from every quarter difficulties being placed in the way, supported by private intrigues, which recall the worst time of the peace negotiations after the occupation of Peking. We do not mean to assert that the proposed treaty is free from error, or that discussion of its stipulations is to be deprecated. On the contrary, we are compelled to acknowledge that there are many and gave mistakes which go far to render it useless, if not practically detrimental; and if this were the ground of opposition, or if it offered any hope of freeing the instrument from these defects, and of enabling a really comprehensive scheme to be passed, we should certainly hail the opposition as likely to be helpful in the evolution of some really useful con- vention, which would prove to be conducive to the interests not only of the Powers, but of China herself.
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[Angast 25, 1902. Company's premises at Hunghom, for the upposition to England, without too careful!" construction of a proposed new dock on ly entering into details. The interests of "certain terms,' since withdrawn, proves either as importers is so insignificant that, that at any rate the scheme has not been The Board of provided they can render a disservice to definitely abandoned. England, they are content to stoop to any Directors has for a long time past been intrigue however mean, auy obstacle however | negotiating for this land, and it is quite detrimental to the common interest; and as possible that they do not even intend to recommend its acceptance; they may only the reactionary party in China is to a man
to lay the Government proposals opposed to any scheme having for its object mean the extrication of their country from its before the shareholders. At one time, as we all know, both the Board and the share- present slough of despond, there is abund ant opportunity of hitting a back-handed | holders were in real carnest in seeking this blow. Unfortunately the management of extension to their premises, and in equally the Maritime Customs has not been blame-real earnest in desiring a large new dock less, and has afforded a further opening wherein the biggest ships afloat or likely to for the reactionaries. One of the principal | he built could be docked. Times have objects sought in the formation of the altered, however, and circumstances have Foreign Customs service was that there changed since it was first proposed to add should be between the Chinese Government to the already extensive docking accommo- and the foreign merchant a body of upright |dation of the great local dock company. men_independent of politics, who should Where there was formerly unanimity of act impartially in the collection of the opinion on this question, there is now divi- revenue, and not interfere in affairs beyond sion, and the great mass of the shareholders this narrow sphere of duty. By the force and some of the directors, we understand, of circumstances rather than any settled are now entirely opposed to the project. plan the head of the office came to be an It is seldom indeed that we feel called upon. Foglishman, but the Office itself never lost to take a hand in matters which concern its cosmopolitan nature; and the depart-public companies, inasmuch as we entertain mental heads came to be filled without any the belief that, as a rule, the shareholders sacrifice of efficiency hy men of all or any are or ought to be competent to look after their own interests, while the community nationalities indifferently, all filled without sacrifice of the original scheme. Equally generally can look on with unconcern if a unfortunately, the conduct of the British mistake is about to be made or a disastrous Government towards the Inspector-General competition invited or averted. But in has throughout been marked by vacillation this case, where so many absent investors are interested, where a vast sum of money and weakness; and as a natural result of late the Inspector-General has been almost is proposed to be spent-a sum at least forced to become first the apologist, and double the capital of Company--it seems to eventually almost the creature of
us that a calm and dispassionate review of reactionary party, which in turn has not
the whole subject uny prove useful and failed to make him the tool of its further help the shareholders to come to a sensible designs on the independence of the provin- decision on a matter of real moment to the cials. There is little doubt that it was Colony, inasmuch as the stock is widely from this source that the first proposal of held and its permanent depreciation cannot Sir JAMES MACKAY, to ignore altogether fail to have a very adverse influence on the the feelings of the provincial governments, market generally. proceeded; and there is also little doubt that much of the provincial suspicion of the ulterior objects of the extension of the power of the Foreign Inspectorate proceeds. On the other hand the jealousy exhibited by the foreign Powers, and more especially by France, Russia, and Germany, proceeds from a much less worthy cause, and is simply an indication of the general contin- ental ill-wil that has reduced to a hear garden the grotesquely named “ Concert of
the Powers,”
the
THE HONGKONG AND WHAMPOA
DOCK CO., LD.
The United States, for instance, object, it The offence of England is of course that is understood, to the principle of the pro- she alone has conscientiously, if somewhat posed treaty on the practical ground that feebly and inconsistently, attempted to whereas their trade is mainly with the preserve the autonomy of China as a nation, northern provinces, which have till recently and has not been willing to see the trade been free from the curse of the lekin col-which she was the first to build up, and lector it is now proposed that a system in which she opened to the world at large all respects similar should be there irrespective of all merely private and introduced; and that for this they would selfish considerations, utterly ruined, or be subjected to a very definite surtax of turned to her own detriment. seven and a half per cent. Herein, it must be confessed, there is a very substantial reason for disagreement : anal the more so that many English merchants hold that in the new treaty Sir JAMES MACKAY has over- valued the concessions made by the Chinese. With some of the other objections we have not the same sympathy, more especially those put forward by France and Russia. The French have, or pretend to lave, secured certain rights in the southern provinces in respect to overland trade with which these new clauses are, they say, inconsistent, and as usual the Russians back them up by alleging similar rights in Mongolia and Manchuria. What these are neither is in a position to say; but the whole course of both French and Russian diplomacy in
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It has a subscribed
First of all, then, let us consider what is the present position of the Dock Company and its capabilities in the way of docking and executing work. capital of two and a half million dollars in fifty thousand shares of fifty dollars each, and at the end of 1901, after payment of dividend and bonus of 18 per cent., carried $420,119 forward to working account. It is now proposed to pay a dividend of 12 per cent. and carry $290,000 forward. This is somewhat less than the previous year, but business has not been good nor profits so large. The Dock Company already possess the following docking facilities: At Hunghom
Length Breadth No. 1 (Admiralty) Dock 576 ft. No. 2
371
No. 3
86 ft.
264
74 49
19
>
15
Patent-Slip, No. 1
2440
GO
"T
13
230
60 11
At Taikokt-ui--
Cosmopolitan Dock
466
85
67
At Aberdeen—
Hope Dock
431 333
11
84 64.
17
1*
Lamont Dock
+
ut
All the docks are supplied with every appliance--especially Hunghom-for (Daily Press, 18th August) ; We had thought the proposal to build a the work of docking and repairing vessels, new dock at Hunghoth by the Hongkong and the machinery has been again and again and Whampoa Dock Company, Liunited, brought up to date, while large stocks of had, in deference to the expressed wish cf material are always kept in hand. This a large number of shareholders, been prac-fact explains why the Dock Company always tically abandoned. The appearance of the has a large overdraft at the Bank, against notice recently calling an extraordinary indents constantly arriving. The large niceting of shareholders, immediately after cruisers Powerful and Terrible have both been docked in the Admiral y Dock, and the half-yearly meeting,
of considering, and, if thought fit, of this dock gives sufficient accommodation accepting, an offer from the Government, for the largest merchant vessel that has ever visited the port or that is likely to run to grant to the Company a crown lease
Even the new boats for "of a certain piece of land adjoining the in these waters.
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for the purpose
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