January 9, 1905.]
THE
EWO COTTON SPINNING AND WEAVING CO., LD.
The ninth ordinary meeting of this Company was held at Shanghai on December 23, Mr. H. Keswick in the chair, There were present Messrs. A. McLeod, P. F. Lavers, Lee Quang ying (members of the Consulting Committee), Jas McKie (Acting as Secretary), W. C. Murray, J. Kerfoot, B. A. Clarke, H. J. Clark, Mousa, Yuen Chong, and J. M. Young.
The Chairman Gentlemen,-The report and
accounts were circulated to shareholders soine twelve days ago and with your permission 1 will not detain you by repeating them, but regard their contents as read. We have to. report to you a very disappointing year, for whereas we made quite a satisfactory profit on the first six months' working, the adverse circumstances which are referred to in the report resulted in the mill running at a loss during the latter part of the period under review. Our first reverse was the immediate result of th outbreak of hostilities between Russia and Japan, which not only entirely stopped clearances of yarns already sold to Northern outlets, but caused an accumulation of stocks on all of which interest charges absorbed the working margins. Then, later in our financial year, we had as a result of famine prices prevailing for American cotton, an unusually strong demand for export, which resulted in the price of the locally grown staple touching a level that rendered it im- possible to spin yarn at a profit. In connection with the figures submitted to you, it will be noticed that the balance at credit of Working
Account is Tls. 71,137.30, which shrinks to practically nothing when de luctions are made for the very heavy item of interest charges to which I have already 'referred, and for the concurrent Leavy insurance premia incurred for the same reason. The balance at credit of Profit and Loss account, Tls. 12,844,76, it is
proposed to carry forward to current year. The sum of Tls. 10,245.00 has ben spent on
re-
newals and repairs to machinery, and our mill manager submits a very satisfactory report under this heading; indeed, we are turning out as heavy a weight of yarn as the mill has ever recorded since its construction. As regards the future I have pleasure in stating that the mill's production up to May 1905 has been sold
at a profit, and we can only hope that we may be more successful in the latter part of next year
than we have been in 1904.
There is one thing further You will have
no doubt noticed in a report of a meeting if another company on the other side of the river that there was considerable criticism, and a certain shar-holder, according to the printed reports, complained that although an enormous piece goods business was going on, yet at that time there were no larg clearances of yarn from stock. It is quite true that thera is a large business, but it is for further delivery in March and April next year, and this applies equally in our case. I shall be pleased to answer any questions from shareholders.
There being no questions, the following re- solutions were pa-sed without omment: →
Proposed by the Chairman, se onded by Mr. A. McLeod:-That the report and account as published and circulated to the shareholders, be adopted.
Proposed by Mr. Brodie A. Clarke, seconded by Mr. H. J. Clark-That the retiring Consulting Committee be re-elected ensuing year.
for the
Proposed by Mr. W. ( Murray, seconded by Mr Ynen Chong: That Mr. G. R. Wingrove be re-elected anditor.-N.-G. Daily News,
THE
AMERICAN ASSOCIATION
IN CHINA.
This Association beld its annual meeting at Shanghai on De. 29th. The membership now numbers one hundred and thirty six.
The
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CHINA OVERLAND TRADE REPORT.
sent to friends of the deceased. We have also to record the sad death of a non-resident mem. ber, Mr. Norman McGee, formerly of the Nan- yang College, Shanghai, who died in Colorado, U.S.A, in the month of September and is deeply mourned."
Concerning mining, the report said: “The guiding principle in the new
arangements made for the opening of mines, appears to be. at any rate to the foreign observer, a desire to shut out foreign capital and foreign advice as much as possible. Now, while recognising China's sovereign rights in all these matters and th great danger of the effect of unprin- cipled foreign adventure, by which interested parties may try to get control of the resources of China for their own selfish advantage, yet it is manifestly visionary for China to shut out foreign capital and foreign advice in toto, for she is not in a position to develop her own resources entirely alone and by herself and will
find in time, as all other countries have done. that it is necessary to welcome foreign capital,
o an extent at least. It is, therefore, in a pirit of the greatest friendship toward China herself that your Committee has joined in certain measures in regard to the new regulations.
"A comparison was published in the columns of the July issue of our journal calling attention to the change apparent in the Mining Regula tions of 1904 as compared with those of 1902.
The Committe. having been informed that the American Minister at Peking had filed a
general protest against the new Mining Regula. tions, expressed itself as in accord with the
action which he had taken.
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therefore the complainants should decide which charge they were going to proceed on. A man must know what he is going to be tried for.
Mr. Bowley said it was the usual practice in framing indictments to frame intent in different
WBYS.
His Worship made a note of the objection,
he would and said
give a ruling upon it before Mr. Brutton was called on for his defence.
Mr. Bowley, in opening the case, said it was a matter of common knowledge that Chinese were not allowed to enter Australia at the prea- ent time unless they had naturalisation papers, exemption papers, or special permits to allow them to do so. There had been a great many complaints from the different Governments of the Colonies of Chinese attempting to get in with false papers. As a result of these complaints, en- quiries were made by the Police, who obtained certain information. They laid a trap, wherein
the first defendant was caught. A man called Hau Tim was sent by the Police to endeavour to purchase papers which would enable him to obtain access to the Australian Colonies. On the 13th November he went to the second floor of No. 151, Connaught Road West, where the prisoners lived. The first prisoner carries on business on the second floor, and uses the firm name of Chan Hop. Hau Tim went to the Chan Hop and asked the first defen- dant if he could get him a paper by which he could go to Australia. The defendant said "Yes, I have papers. Have you money ?"
He further guaranteed that for $850, Hau Tim' should enter Australia safely. The defendant said he must have money on account, so Hau Tim went away. He returned next day, and paid, in the presence of the second defendant, $50 as bargain money. The first defendant represented to Hau Tim that it would take some time to get the papers ready, and that it would be necessary for him to be photographed. On the 10th December Hau Tim went with the second defendant to photographer's,
he where
WES photographed,
paid
"The Regulations of the Mining Syndicate of the Province of Hunan,' as published in the Press of Shanghai, also exhibited this same spirit of a desire entirely to prevent foreign On the supposi- capital from he'ping China. tion that the translation, as published, was a correct translation, your Committee seemed justified in considering, that since foreigners were prohibited from holding shares in the Syndicate, this was a matter of importance to all the second defendant $1.40, which was represent Americans in China. as a far-reaching pre-ed to him to be the cost of the photograph. At cedent not to be agreed to for one moment, for, a later date the second defendant went to the on reading the terms of the concession as photographer's shop and got two prints, for printed, in connection with Article VII of the which he paid forty cents! American Treaty, which was ratified in January
of 1904 between the United States and China, your Committee was forced to conclude that the provisions of that treaty had been wholly ignored. By correspondence with the American Consul-General at Shanghai, the Committee was informed that the protest, which they then
made, in regard to the Hunan Mining Regula- tions, had been transmitted to the American Minister at Peking. and that in reply he had said that these regulations undoubtedly violated the provisions of our Treaty and that he, as well as some of the other diplomatic representa- tives, had made a strong protest against them." The report went on to explain what had been done with regard to the new Tr de Marks Regulations; to speak of the "eminent service" of Professor Jenks in the matter of currency reform; to deal with the Huangpoo conservancy question, and other matters of general interest to Americaus-Mr. J. N. Jameson was elected president.
CHINESE EMIGRANTS TO AUSTRALIA.
ALLEGED ATTEMPTED FORGERY AND.
CONS IRACY,
Wong Chuk Yau and Wong Tim were charged before Mr. Gompertz on the 29th inst. with (1) Defrauding one, Hau Tim, of the sum of 1850 (2) and (3) Unlawfully at- tempting to defraud and deceive the China Navigation and Eastern and Australian S.S. Companies by obtaining from the said com. pani a passenger ticket for one Han Tim, to nable him to personate one, Ah Wai. Wong Chuk Yau was further charged with
the
and
At this stage Mr Brutton asked that the
prisoners be charged separately unless the con- plainants were willing to drop the charge of forgery, as he might wish to call the second defendant as a witness.
It was agreed that the charge of forgery be heard after the charges of conspiracy.
Mr. Bowley continuing said:--On the 19th in- stant the witness, Hau Tim, went with a clansman to se the prisoners again! He spoke about the papers, and the first defendant said he would give them to him (Hau Tim) when he paid the money. On the 20th witness went again, The first defen- accompanied by his clansman. dant asked about the money, a ad witness said be had it, and asked to see the papers. The first prisoner then went into a cubicle and brought out some papers which he handed to Hau Tim, and asked for the money. Hau Tim said the money was not quite ready. He handed the papers to his clansman and went downstairs and brought Inspector Hanson up. The Inspector took possession of the papers, and found they consisted of letters of naturali-ation issued by the Colony of South Australia to a man named Ah Wai. A photograph of Hau Tim was on one of the papers, and there was also attached a piece of paper containing Chinese characters which, I will show, was in the nature of instructions to Hau Tim as to how he was to use his naturalisation paper. I shall call evidence to prove that with these papers, Hau Tim could have gone to the steamship offices, and by representing hitself to be the man named on the paper, procured a ticket to Aus- tralia. The second defendant was arrested on Wednesday night on a charge of conspiracy.
the
any
The first witness was Hau Tim, who declared :-I went to No. 151, Connaught Road West, on the 19th Noremler last. I saw the first and second prisoners. I asked
ho had first prisoner whether cum shan (papers for Australia) papers. He I answered "Sun said "Which cum shat? cum shan (papers for South Australia). He second and third charges, that both companies said, "I have. Have you got money?" I asked could not be defrauded by the same individual, him how much he wanted. He said "$850,” and
report recorded "te death of one of our old attempted forgery of an Australian Immigra resident members, Mr. Hufas F. Eastlac whtion certificate in order to evade the poll tax. 'passed away on the 5th May, 904, at Shang- Mr. F. B. L. Bowley, the Crown Solicitor hai. Remembering his lon residence of m re instructed by Chief Detective Inspector Hanson, than forty years in China, his example as an prosecuted and Mr. G. K. H. Bratton re- merican of highest integrity, and his record presented the first defendant, Wong Chuk Yau.
■a courteous and worthy Consular official, the Committee prepared Resolutions, as memorial to Mr. Eastlack, and copies of these were
Mr Bruton contended, with regard to the
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