July 4, 1903.]
15,000 new shares of $1 each to be offered and if accepted to be allotted to the present.share. bolders of the Company in the ratio and pro- portion of one new share for every old share in the Company held by the respecti e sharehollers
thereof."
Mr. BROWN seconded and this motion was also carried unsuimously
The CHAIRMAN then proposed the third ped last resolution, which was:- That in considéra- tion of the guarantee and undertaking now given by Messrs. Shewan, Tomes & Co. (the general managers of the Company) and testified by their signature heret (and to be further testified by the execution by the said Shewan, Tomes & Co. of a separate instrument of guarantee to be executed contemporaneously with the debenture trust deed or mortgage. hereinafter referred to an to be held by the trustees thereof to be ppated as hereinafter mentioned) that the dividend for the years 1993, 1904, and 1905 in resp of of the new shaies referred to in the second of the pr.ceding resolutions shall not fall below the rate of 6 per centum per annum in each and every one of the said three years the said Shewan, Tomes & Co, as such general managers as aforesaid be and they bereby are authorised to issue debentures to the amount of not more than $200,000 on the property of the Company to be secured by a duly executed mortgage theroof by the Company to such persons as trustees for and on behalf of the debenture bolders as the said Shewan, Tomes & Co. may by writing under their hand appoint. The said debentures to be issued in the shape of bonds for $1,000 or $100 each at the debenture bolders' option respectively but so that the aggregate taken together shall not exceed the sum of $200,000. The bonds for and in respect of the said debentures may be issued at a discount not exceeding 2 per cent. on the face value thereof, but so that the holders respectively of such debentures shall not be entitled to be repaid more than the face value thereof. The debentures to bear interest at the rate of 8 per cent. per annum, to be com- puted from the date of actual issue to the respec- live bolders thereof and to be repayable within 5 years fr m and after the date of such actual issue in manner following, that is to say, no portion of the amount paid in respect of any of such debentures shall be repayable during the first three years following the date actual of the issue thereof but upon the expiration of such per.od of three years there shall be repaid in respect of each debenture to each and every holder thereof
(a) One quarter of the amount paid in respect thereof within six calendar months following the expira'ion of the said period of three years;
**(b) One quarter of the amount paid in respect thereof within twelve calendar months following the expiration of the said period of three years;
•
(c) One quarter of the amount paid in respect thereof within eighteen calendar months following the expiration of the said period of three years; and
** (ɗ) One quarter of the amount paid in respect thereof within twenty-four calendar mouths following the expiration of the said period of three years."
Sir PAUL CHATER seconded, and the motion was carried, nem con.
This was all the business. A confirmatory meeting will be held on the 12th iust.
|
CHINA OVERLAND TRADE REPORT. HONGKONG VOLUNTEER CORPS.
The report the Hongkong Volu tear Corps for 102 is published in the Gazette. Major-General Sir William J. Gascoigne in his covering letter t H.E. the Governor writes :-
It will be seen that there has bee a falling off in numbers, but this was to be expected owing to the chan.e in the composition of the Corps--a change which scceptable to all former members. But I am was naturally not thor, ughly satisfied that the change was a wise one, Garrison Artillery and Engineers being the two units in the Garrison which require strengthening, and in which the assistance of Volunteers, well trained, is of the highest value. It speaks well for the commonsense and loyalty of the Corps g nerally that this change was so largely accepted, once it was made clear that it was in this respect that their services were most required. With regard to Major Pritchard's remarks iu paragraph 37 as to the present difficul. ties in training the men so far distant from their Headquarters, I would inform Your Excellency that this had not escaped my obser. of establishing a Drill Practice Bittery at vation, and that I am consideri g the feasibility Scandal Point where both the Artillery and the Volunteers can receive practical instruction. From Major C. G. ritchard's report we make the following extracts:
The total strength of the Corps of all ranks as against 318 of all ranks [in 1991] now 274 I att ibute the falling off i Lumbers to the recent change in the Corps from Field, Machine Gun and Infantry Companies to Garrison Artillery. During the past season 1 member has died, 61 have resigned-33 in Colony and 23 on leaving the Colony- 7 have been struck off is absent without leave. Thirty-five new members have been enrolled. During the past year the Cor s has been re-organised as Garrison Artillery and Engineers, with actual strengths as uuder-Staff, 6; No. 1 Garrison Artillery Company, 117; No, 2 Garrison rtillery Cm- pany, 116; Engineer Company, 29; and Band 6. respectively. as compared with establishments of 7, 155. 155, 60 and 23 respectively.
The discipline of the Corps has been exceed- ingly good throughout the season. squid, carbine, rifle and company drills have The usual been performed and we'l attended. Masketry practice has been carried ont during the season. Under the 'hoad of drills the figures are as follows:
Those who have becore efficient with more than 30 drills :-
No, 1
1o. 2 Company. Company.
45
56 less than 30.
38
Non-efficient.
Engineers. Band.
6
15
33
7
27
7
29
117
6
34 Total. 17 Of the 68 non-efficients, 17 have been called upon to make good the loss to the Corps funds, i.e., $25 each, 4 hare been excused owing to the nature of their employment, 2 will be struck off the strength as absent out of Colony without lease, 32 are absent (with leave, from the Colony), and 13 recruits have been unable to complete the necessary number of drills.
The difficulties in the way of training Volunteers here as Garrison Artillery are very great, and considering these and the short time that has elapsed since the change, I con-ider the progress made has been very good, but The Shanghai correspondent of the London
unless some arrangements can be made for drill Daily Mail writes:-In connection with the
guns near the Headquarters the numbers can proposed increase of the Asiatic squadron of the the efficiency be as good as could be wished. never be kept up to th, approved strength nor United States the following curions story was told me the other day by a British naval officer, done at one of the Forts in the District and for At present any drill with heavy guns has to be A few months ago, while there was an unusually one hour's drill the men have to give up 2 to 3 large gathering of foreign warships in Kobe hours to allow for proceeding to and fro. This harbour, one of the best gunners of HM S. prao ically limits these drills to Saturday after- Barfeur disappeared. As he could not be found noon, and accounts for many of the men despite a most vigorous search it was conjectur-resigning as they cannot possibly give up the ed that he had been drowned, and he was entered | time. in the log-book as dead. It was afterwards drill guns should be mounted at Scandal Point I understand there is a proposal that discovered that he had enlisted in an American for the use of the R.G.A. and the Volunteers, battleship, having succumbed to an offer of £100 down and three times the pay he was receiving in the British Navy. Cases of this kind were common enough during the Spanish-American
war.
HONGKONG WATER POLO
ASSOCIATION.
11
kong Wa er Polo Shield Competition was held A meeting of t'e committee of the Hong- at the Victoria Recreation Club on the 30th ult. Mesra R Witchell (Y.M.C.A.), F. M. Rosa The following representatives were presents – Pereir (Lusitano Club), J. H. R.: Hance (H.K.V.U.), M. A. Lammert (V.R.C.), Sergt. Jewsbury (RE.). Co.pl. Linghran (R.G.A.)
Meek, Hon. Treas, and A E. 8. Alves, Hon. Sc. It was decided that this year's com petition be played under League rules with conditions as mentioned below:-
and when these are mounted I hope to get more members and a much higher state of efficiency, in the Corps; in fact without these gune I consider that it will be practically impossible to keep the present number together.
1. Two points for a win. 2. One point for a draw.
3 In event of a draw in points at final stage of the competition, the teams 'concerned will play off.
4. All players ma t be bona-fide members for the term of 14 days of the club, body, corpor unit of the garrison competing for the Shield.
5. All ties to be played at V.R.C. enc.osure. 6. Non-appearance of any one team will explanation is sent in to the committee count a win for the other unless a satisfactory within two days from date of play.
The committee then arranged the following fixtures:- 3rd July
Lusitano Club and Royal Engineers,
4th July-Sherwood Foresters and Royal Garrison Artillery.
and Hongkong Volunteer Corps.
6th July-Young Men's Christian Association
20th July-Lusitano and R. A. 21st July-V. R. C and R. E
22nd July-V. R. C. and H. K, V. C. 23rd July-Y. M. U. A. and 8. F.
BRIBERY CHARGE AT POLICE COURT.
Kemp, Acting Police Magistrate, R. G. On Wednesday, 1st July, before, Mr. J. H. McEwen, inspector of markets, was charged on remand for that he on the 24th day
then being a public servant, accepted the sum of December, 1902, at Victoria, in this Colony, of $120 from one Chan Wong, and the sum of $100 from Ip Chang, Wo Kam, and Lam Hing Shan, with a view to influenos his condust as such public servant, contrary to Section 3 of Ordinance 3 of 1898." The defendant was represented by Mr. M. W. Slade, barr ster-at- law.
Mr. F. B. L. Bowley, Crown Solicitor, who prosecuted, asked leav to substitute for the two charges mentioned above five which included those two charges and which accused the defendat of accepting at divers dates bribes amounting in all to $277.!
His Worship accepted the substitution, and read over the charges to the defendant, who pleaded not guilty to all of them.
Mr. Bowley then proceeded to state the casə for the prosecution. He said the defendant the force in order to take charge of the Naval was formerly in the Hongkong Police, and left
Yard Police. That position he relinquished in 1991 to join the Sanitary Department a d on 1st May, 1902, he took up the duties of inspector of markets. As such he practically had control of all the markets in the Colony, and his duties were to enforce all Ordinances, bye-laws, aud regula tions relating to the marke's. He was under the supervision of the Colonial Veterinary Surgeon, with whose permission be iustituted pr secu tions for breaches of the bye-laws. In the mar guild the Court was at present concerned with kets each particular tradeshad its guild, and the
and the poultry guild in the Central Market. was the poultry guild in the Western Market All the poultry shops belonged to that guild, and when any particular shop got into trouble the practice was to call a meeting of the guild the affairs of the guild were managed in turn by to consider the matter. In the Western Market
duties for one month only; in the Central the different shops, each shop taking up the Market two shops took up the duties and managed affairs for one year. The shop having the management of the guild had the custody of all the moneys and books the property of the guild, and made all necessary disbursement Two months and a half after the defendant took
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