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December 8, 1904.
GREEN ISLAND CEMENT CO., LD.
INCREASE IN CAPITAL.
An extraordinary general meeting of the Green Island Cementompany, Limited, was held at the Company's office, st. George's Buildings, on the 26th November. The Hon. B. Shewan presided, and there were also pre- sent Hon. Sir Paul Chater, Hon. W. J.
Gresson (Consulting Committee), Mr. N. H. Rutherford (Secretary), Messrs. E A. Hewett, A. Turner, C. A. Tomes, T. Skinner, R. C. Wilcox, F. D. Goddard, and Fung Wa Chun (shareholders).'
The SECRETARY read the notice convening the meeting, it had been called for the pur- pose of passing the following resolutions :-----
That the Capital of the Company be increased from $1,000,000 (divided into 100,000 shares of $10 each) to $1,500,000 (divided into 150,000 shares of $10 each) by the creation of 30,000 new shares of $.0 each to be offered and if accepted to be allot ed to the persons consti- tuting the shareholders of the Company according to the Company's Register of Shareholders on the 28th day of February, 1905, at a premium of $10 for each and every single share of such 50,000 new shares in the ratio and proportion of one new share for every two old shares in the Company held by the respective Shareholders thereof; the amount payable on each of such new shares respectively (including the said premium of 810 per share) to be paid as to one equal half part thereof on the 31st day of March, 1905, and as to the remainder thereof (including the balance of the said premium) on the 37th day of June, 1905.
And that failing such allotment as aforesaid the said new shares be disposed of by the General Managers in accordance with the Company's Articles of Association.
And that for the purpose of facilitating the carrying into effect of the above Resolution the Transfer and other Books of the Company be closed for the space of seven days as on and from the 1st day ‹f March, 1905.
The CHAIRMAN said :-Gentlemen, before I proceed to put the resolutions just read to the meeting will, as briefly as possible, explain the necessity for more capital. We have added to and extende the capacity of the factories hers and at Macao until we can go no further. We have now reached a total output of 34,000 barels per month, but the demand has more than kept pace with our enlargements so that in spite of all, we have still to suffer the chagrin of seeing good orders go past us. We have, therefore, to practically begin an additional factory. After very thorough study of the
whole question we have decided to put up a Rotary Plant instead of Aalborg Kilns as before. Rotary Kilns are now giving great satisfaction in Europe and America. To begin
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CHINA OVERLAND TRADE REPORT. Europe or America, and we do not envy any rivals who should attempt to take a new concern through all that this Company underwent at its inception. We have had an unusually good year. but we cannot count upon always having a large Admiralty Dock contract to fall back upon such as we have at present. It is never safe to pro- phesy unless one knows, but as the end of the year is so near and I know that shareholders are anxious for a word on the subject I will go so far as to say that at a rough estimate, for it is impossible to give figures that are at all exact without taking stock and closing all our books, our profit this year should be about 40 to 50 cent, more than last year.
per
After giving these present time to suggest amendments the CHAIRMAN put the resclutions to the meeting.
Mr. E. A. HEWETT had very much pleasure in seconding. He was sure that all present ap- preciated the excellent manner in which the business of the company had been developed and the success that had been attained, which fully justified the proposals that were before the meeting. He was not in a position to express an opinion as to what had just been said regarding the experiment that it was pro- posed to make with the new kilns, but he believed the Company was correct in making the experiment. With regard to the Company, wherever he went he found that Green Island Cement was being largely used. He had seen it in North China, Singapor, and the Philip pines. It was very clear that a much larger business was before them if their out-put was inc: eased.
The motions were carried unanimou-ly. The CHAIRMAN said that a confirmatory meeting would be held later.
CHUNGKING NEEDS FOREIGNERS
CORRESPONDENCF.
417
INTERNATIONAL “LAW” AGAIN.
**
TO THE EDITJR OF THE DAILY PRESS.”
Hongkong, 29th November." S18-The recent decision of the learned Chief Justice with regard to contraband of war is peculiar in that it is based on International Law which, if it possesses a discredited and somewhat shadowy existence, has certainly no authority either among nations or among.in- dividuals (the Chief Justice excepted). In the case of this notable exception, it happens that the so-calle i International view of Contraband coincides exactly with the British view, and the Chief Justice is in the happy position of finding the interests of his own country in no degree at variance with the inspired doctrines of Inter fortuuate position of being able to regard with some degree of asperity the vagaries of French and Russian Courts who disregard International Law when they find it irksome, and to feel no doubt a certain amount of sonsoions rectitude. in the fact that his own judicial position with regard to International Law is, so to speak, irreproachable. In the sathusiasm of finding himself in a position so eminently gratifying to the heart of a good man, the learned Chief Justice is carried away to state that Inter- national Law, so far from being a vague obimera existing only in text-books and in the brains of visionaries, has on nations a real binding force which becomes only temporarily and ocasionally in abeyance. That the learned Chief Justice, however, is alive to the signi ficance of the fact that International Law (sic)
national Law. He is also in the no less
оп
the question of Contraband harmonises with the British view (and interests) will be seen from the following excerpt from his decision:- ." The parties must be said to have used tue expression "Contraband of War in the sense in which it is used in British Courts of Law, which is its sense in International Law.
In his recent report to the Foreign Office the Acting British onsul at Chungking (Mr H. E. Sly) deplores the representation of British It cannot be successfully contended that pro-
trade interests there by Chinese, and points out the disadvantages of the system. He adds:-
visions would be regarded by British Courts of I aw as unconditional contraband of war, or that there is any likelihood that they will ever take that view.” Why in the present fortunate instince s there no such likelihood? Because of the economical and essentially material fact
that we are dependent on other nations for our food supply, and because we find the present stats of International Law as recognised by ourselves, and at one time by othera, to be quite
I am well aware that the argument is fre- quently advanced that the comm-re al induce- ment of Chungking are not sufficient to warrant the expenditure of maintaining a foreigner in residence. The steady advance in the trade of the port from 1894 to 1903, all transfer of the likin to the Imper al Maritime allowance being made for the possibility of Customs, does not, however, appear to justify harmonious with national interests. But if so pessimistic & view. In 1894 the value of the
we found in some other equally vital instance total trade passing through the Imperial Mari- that our interests couflicted with International time Customs was 10,781,505 taels; in 1903 it Law as understood by ourselves, whether or not was 29,224,698 taels In other words, in nine
we sh. u'd be even morally bound by Interna- years the trade of the port has almost trebled.
tional Law is a difficult question, and has only one-fifth of the entire trade of Chungking for a moment from the contemplation of dizay It must, too, be borne in mind that at present certainly two sides to it; and if we descend ges through the foreign customs, the remain-mora! heights and wish to retain our equilibrium der passing under likin.".
ANTI-FOREIGN AGITATION IN
NORTH CHINA.
8
The Peking and Tientsin Times gives pro- minence to the following translation placard that is being posted in various parts of North China.
Heaven has sent his Lordship "Lung-ch'an,' To act on Heaven's behalf Before very long.
with the first cost of the plant is considerably less and in our case the saving is still greater, as we can take advntage of a good part of our present installation for the working of these Kilns, while as compared with the old Kilns the quality of the cement produced, though not on the whole any higher than at present, will recommend it to a particular section of our customers. Our Superintendent Mr. Uldall studied these kilns at home some time ago and recommends their adoption, and cur Chief Engineer, Mr. Hewitt, being on a holi- day we took advantage of his presence in England to place ord. rs for a two Rotary Kiln Plant complete, making, as far as possible, special arrangements for adding one Rotary Kiln or more if required later on. These two Rotaries will give us about 16,000 barrels per month additional, a large increase in proportion to the cost of the new plant, which we estimate will be something under $40,000. Our present overdraft with our bankers i $486,000 and there is the dividend which may be reckoned at not more than $200,000, so that altogether the pro- posed $1,000,000 new capital and premium will not be more than enough for our wants. We shall, however, be in a much stronger position, and, as the more we make the lower the cost, we should be able to produce our cement at a price which shou'd defy competition. As everyone knows this Company had to pay dearly for its experience; it cost us practically all our original capital and years of work and struggle against adverse conditions, which do not o.tain in 'known.”
on earth, there cannot be the slightest doubt in the mind of anyone that we should not as a matter of fact be bound in any practical way or to any appreciable extent oy International Law. Nations have-been a law unto themselves (and Great Britain a good law unto herself and anto others) for the last twenty centuries; and they are not going to change their methods at the bidding of so inconsequent a thing as International Law, when a disagreement be tween its tenets and their own interests actually ocours. Suppose, then, that Great Britain had issued a declaration to the effect that foodstuffs were unconditional contraband of war, Could
He comes in command of the Heavenly the learned Chief Justice, with all his deference troops.
Fear not the smokeless guns,
And fear not the bursting cannon shells. Have the stinking **Ta-tzu or Tartars slaughtered,
to the law of nations, by any manner of means flout his own Government and refuse to take its definition of Contraband? He could not. French and Russian Courts are, I take it, in no better position. The laws of their own_country must
And have the foreign devils' religion take precedence of International or any other exterminated.
Notify you the people;
Must all be aware of this.
If you want to protect your lives, Must worship the "Hung-chiao" religion as soon as possible.
In the original, says our contemporary, this is în rhymed verse, “which makes it the worse, because more easily learned and more widely
laws. Where, then, does International Law come in P-Yours, &c.,
“A LAYMAN"
ON THE SAME SUBJECT.
TO THE EDITOR OF THE DAILY PRESS.
Hongkong, 28th November. SI-Your leader this morning reminds me of thrashing a dead horse. No one in his
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