t
August 22, 1904.]
CHINA OVERLAND TRADE REPORT.
STEAM-BOAT CO., LD.
HALF-YEARLY MEETING.
but he refused to give any. I asked him to ¡ HONGKONG, CANTON AND MACAO await the arrival of the Inspector on duty, then in the Police (ourt. In the meanwhile he made another statement. He said that people in Queen's Road were throwing mud at him.
The seventy-sixth ordinary half-yearly meeting He appeared to be down on his luck. After of the Hongkong. Canton and Macao Steamboat having consulted the Inspector on duty he went Co., Ld.. was held on the 15th inst. in the Co.'s away, saying he would go to his lodgings. office, Bank Billin 8. Hon. W. J. Gresson Next day I saw the report from Shaukiwan presided, and there were also present Messrs. Station, and something struck me that thaN. A. Siebs, F. A. Gomes, E. Goetz, H. Schu- must be the man. I went o the mortuary and found it was he in a navy blue jacket, buttoned up; black trousers, American pattern lace-up boots, a celluloid collar, flowered tie, and new straw hat. I interviewed all the beachcombers I could find, and also the Chinese restaurant keepers, but failed to find out anything about him. He spoke like an Englishman, but may have had a slight, acquired American twang.
Mr. Gompertz: Did he strike you as a sea- faring man?
Witness: He had rather a gentlemanly ap pearance. He might have been a sea-captain. Some of these have a gentlemanly appearance; some have not.
Indian P.C. 842 said: On the morning of the 5th inst. I was called by a watchman, who said an Indian police-sergeant wanted me on the road. There was the body of a European there. Arriving on the scene I was told not to let anyone touch the body. The sergeant went to report.
Mr. Gompertz, sharply: A European said he knelt down close to the body. Is that doing your duty ? Witness:
He was five yards away. Mr. Gompertz: The evidence says that he went quite close to the body. Do you not know that marks might have been made ?
The witness was silent.
By Inspector Robertson: called him at 6.30 a.m.
FINDING
The watchman
Mr. Gompertz said: I find that death was caused by hemorrhage, from an incised wound in the neck, self-inflicted: I think that the case has been very carefully worked up by the police. A European from the Quarry Bay Shipyard: What about our expenses? We have lost half a day, and expenses were incurred in transit.
Mr. Gompertz: I have no fund except the poor-box, which is for people not able to pay; if I had one I would give you something.
PUNJOM MINING CO., LD.
EXTRAORDINARY MEETING.
An extraordinary general meeting of the shareholders in the Punjom Mining Co., Ld., was held on the afternoon of the 15th inst., in the Company's offices for the purpose of confirming a resolution for the winding-up of the Company, which was passed at an extraordinary general meeting held on the 28th ult. Mr. B. C. Wilcox (Chairman) presided, and there were also present Messrs. G. Murray Bain, S. A. Joseph, E. J. Judah, H. C. Wilcox, A. H. Ribeiro, C. A. Roza, K. Sayce, Chan Tin, A. R. Lowe (secretary), and H. G. C. Bailey from Messrs. Johnson, Stokes and Master (solicitors to the Company).
The CHAIRMAN said-Gentlemen,-The meeting called to-day is merely a formal meeting called for the purpose of confirming the resolu- tion passed at the last extraordinary general meeting held on 28th July. There is nothing for me to do but simply to pr pose that the following resolution, viz.:-"That the Company be wound up voluntarily, and that William Kerfoot Hughes and Arthur Rylands Lowe, of Victoria, in the Colony of Hongkong, be, and they are hereby appointed, liquidators for the purpose of such winding-up," be now confirmed.
Mr. S. A. JOSEPH seconded, and the motion was carried unanimously.
The CHAIRMAN-That is all the business of the meeting, gentlemen. It only remains for me to thank you for your attendance on this very hot day.
The Empress of China's gift of Tls. 10,000 to the Peking Hospital has been currently ascribed to imperial gratitude for successful treatment of one of her household slaves. The Hospital authorities explain (in the N.-G. Daily News) that the windfall should be really ascribed to the interest taken by Sir Ernest Satow, who has himself subscribed Tis. 1,000.
135
dividend
This was all the business. The CHAIRMAN stated that warrants would be ready to-day (Wednesday) at 10 a.m. at the office.
FARNHAM, BOYD & CO.
*
Following upon the much-discussed question of the erection of a new dock at Kowloon, the following extracts from a letter written by " small shareholder in Farnham, Boyd & Co. may not be devoid of interest to Dock Company - shareholders in Hongkong
bart. Hon. R. Shewan, H. E. Tomkins, A. Haupt. E. R Fuhrmann (directors), and Thos. Arnold (secretary), J. R. Michael, L. Berin. doague, John Arnold, G. T. Veitch, J. S. For rest. J. J. Loiria and G. de Champeaux.
"I should like to suggest that shareholders. The CHAIRMAN said Gentlemen,--With before givin their consent to the sale of the your permission it will be convenient to take Old Dock, should extract a promise from the the report and accounts as read. The remarks
directors to use the proceeds of the sale of the made at our last meeting by my predecessor in property to reduce the capital of the company the chair will probably, in a measure, have pre- by returning 25 taels per share to the share- pared you for the somewhat indifferent results holders. If, as it is reported, the Old Dock can now placed before you and I regret to say that, be sold for one and a quarter million taels at with so much opposition, there seems but slight least, it should not be difficult to raise another prospect of any material improvement of quarter of a million taels by selling the Mün- earnings in the near future. By drawing on the chen and two or three other venerable vessels, depreciation fund for the cost of repairs we belonging to the company. With a million are able on this occasion to maintain the and a-half of cash the capital could be reduced customary dividend, but the amount to be 25 per cent, and this reduction would at once carried forward, you will observe, is compara place the company on a much firmer financial tively small, so that we be in the current half-basis, while the market value of the shares at year under rather less favourable conditions Tls. 75 would probably be as great as that of the than usual. Referring to the question of sub-present shares whose par value is Tis. 100. sidised foreign competition, I may say that the Having paid back 25 per cent. of the capital, the resolution of the last meeting was duly acted directors should be encouraged to continue the upon. Copies of the minutes of that meeting good work. By setting apart a quarter of a with a covering explanatory letter were for- million taels per annum they could create a warded to the Colon al Secretary with the sinking fund which in a few years would enable request that H.E. the Officer Administering the them to return another 25 taels per share to the Government would be pleased to transmit the shareholder. The capital of the company would same to the Right Honourable the Secretary then be of a reasonable dimension, and h ndsome of State for the Colonies with such representa dividends might be expected; for it would be tions thereon as he might think fit to offer. In unnecessary to increase the reserve-(what is due course an answer was received from the the cash value of this reserve ? Can it be Home Government, which however was not of expressed in terms of gold or silver, or merely a nature to encourage any hope of assistance in scrap-iron?) as the company possesses a large from that quarter. The direct West River quantity of land, which is a valuable asset to- service which was resumed last April jointly day, and which in a few years will be much more with the Indo-China and China Navigation valuable. I fear to say more, lest I should get Companies has been in operation for too short beyond my depth; perhaps I am already there.' 2 time to enable a correct estimate of its ultimate value to be formed. At present there are five steamers engaged in it, three belonging to the three companies and two under charter. To replace the latter it is in contemplation to build two suitable boats later on should the trade seem to warrant such a step. As stated in the report, we have acquired jointly with the China Navigation Company another valu- able riverside property at Canton close to our wharves. When the bunding scheme now in progress is carried out we expect to be able to utilise these properties to the advantage of the Company; meanwhile, the tenements are let at rentals which ensure a moderate interest on the cost. With regard to our investments, they all stand upon a perfectly sound basis, the shares at rates well within their market value and the mortgages with ample margins for the sums advanced. Several large mortgages were paid off at the end of the half-year, and this accounts for the falling-off under that heading, but the greater part of the money was re-invested upon favourable terms early in the current half-year. With these remarks, unless further information be desired, I will propose the adoption of the report and accounts as presented.
PAKHOI.
(FROM OUR OWN CORRESPONDENT.]
August 6th.
LOSS OF A VALUABLE JUNK AND CARGO.
The loss of a junk from Kongmoon to this port and Yamchow, laden mostly with silk and cotton piece goods to the value of over $200,000. is now confirmed. The junk left Kongmoon about the end of the 5th moon, having met bad weather on the way out, and while she was beating in near Sui-tung on the 2nd of the 6th moon, she was surrounded by five piratical crafts. After exchanging a few shots with the pirates, the junk was overpowered and taken, but curious to note, only the concubine of the junk's skipper was killed by a bullet shot during the short engagement. The pirates then pro- ceeded to dispose of the cargo as well as they could on the spot and among the nearer villages at a very low rate until the 8th of the moon, when they left the junk, which still had un- disposed cargo on board, to the care of the swe-stricken crew, who lost no time in putting Mr. J. R. MICHAEL seconded, remarking out to sea again. After proceeding a few miles that in view of the keen competition on the the junk foundered in deep water, as a leak had river the report ought to be considered satisfac-sprung in her bottom during the time she was tory.
There being no questions, the CHAIRMAN moved the adoption of the report and accounts.
Mr. G. T. VEITCH moved the confirmation of the election to the Board of Directors of Mr. A. Haupt, Hon. W. J. Gresson, and Hon. R. Shewan.
Mr. L. BERINDOAGUE seconded, and the motion was agreed to.
Mr. T. 8. FORREST moved that Messrs. H. Schubart and E. R. Fuhrmann, who retired from the Board by rotation, be re-elected.
Mr. J. J. LEIRIA seconded, and the motion was agreed to.
Mr. G. de CHAMPEAUX moved the re-election of Messrs. A. O'D. Gourdin and W. H. Potts as auditors.
Hon. R. SHEWAN seconded, and the motion was agreed to.
captive, when she had settled on the sand st every ebb-tide. The crew saved themselves in boats and by olinging to spars. A few of the crew arrived here the other day and related their adventures. This is the first time that a Kongmoon-Pakhoi junk ever fell a prey to the pirates within the recollection of the oldest resident merchant in this port. The loss of the cargo on board this junk féll heavier on Yam- chow than here, but anyhow it will doubtless shake the stability of a few less substantial piece-good shops in both ports. I hear it mooted that the merchants intend to bring future consignments in foreign bottoms, or at least on vessels propelled by steam, but whether it is possible remains to be seen, as there is the differential duty to be considered.
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