March 6, 1905.]
CHINA OVERLAND TRADE REPORT.
a final dividend of 8 per cent making 14 per cent | the mine is now being developed. for the year.
Proposed by Mr. Roach, seconded by Mr. Moller: That Mr. G. D. Scott be re-elected auditor at a remuneration of Tls. 350.
Mr. Roach explained that the remuneration had hitherto been Tla. 250, but the business had increased considerably and with it the work
to be done.
Mr. Roach thanked the meeting for the vote of thanks accorded him, and remarked that January had been the most profitable month the company had ever had. The returns were Tls. 1,000 more than ever in a month before.
i
THE WEIHAIWEI GOLD MINING
COMPANY, LIMITED.
Reporting the confirmatory meeting of this company on Feb. 20th the N-C. Daily News says 6,100 shares were represented. The Chair man (Mr. E. S. Little) said:-I shall have pleasure in proposing the resolutions as read, but before doing so, I think it desirable to make one or two remarks, so that you may understand the present position of the Company. When we last met there were a number of liabilities hanging over our heads and requ ring immediate payment. Those liabilities are still hanging over us of course, but we have arranged with qur creditors to wait until this meeting has passed the resolutions now before it, and until the Company is reconstructed. Our creditors have, without exception, been most considerate and all are willing to wait till funds are available to meet their claims. Then we have transferred our account, the No. 2 account, the Hongkong and Shanghai Bank. (Hear hear, and applause.) I am hoping that, if this meeting passes the resolutions before it, we shall be able to carry on till the monies from the first call on the reconstructed Company are available. In reference to our employees, as you are aware, the Company had entered into agreements with them covering three years.
The Directors have
seeu
each
ono
and
found them perfectly willing to accept the suggestions made to them, and they have left us in the most friendly spirit. We have paid them each one month in advance on their agreements, and the understanding is that we shall pay them each two months further when we have the money in hand. That will complete their agreements, or, if we require them in the future, they are ready to come back again and renew their old agreements, or enter on new ones: Without one exception we have overcome the difficulties with these men, and
therefore the lawsuits hinted at will not take place. With reference to the concentrates, they are occupying the attention of the Directors; samples have been sent to varions places in Japan and America. We have taken the best possible advice on the matter and nothing further can be done till we have the reports on these concentrates. We understand that $70 Mex is about the value per ton, and the cost of sending the concentrates to America is about $40 per ton, which would leave a very small margin of profit. As far as cyaniding is concerned we understand that the longer the ore remains untreated the more difficult it becomes to treat. If the ore is held over for smelting it makes no difference етец if the process
postponed for some months or years. The mine is now probably being again operated. We have sent up Mr. Vers- choyle in charge of the mine and we are impressed with this gentleman's ability. He has ben a manager of mines in Australia and elsewhere Moreover, he has met the Company on financial questions in a very generous way. He has not yet been paid his January salary and he is willing to wait for it until the Com- pany is reconstructed. Then he required a levelling instrument which will cost about $100, and this he has also undertaken to supply tem- porarily at his own expense. He has gone up to Weihaiwei without a definite agreement but with the understanding that when the time comes that we can give him a better appointment he shall have it. I think we are fortunate to have gained the assistance and sympa'hy of such a man. (Hear, bear.) We have sent him to Weihaiwei with instructions to reopen operations, and though no report has yet come down from him, we hope
t 155
PAPER MONEY B'LONG NO GOOD. The dollar notes issued by order of the Can- ton Imperial mint are favourably accepted in Canton, but in the surrounding districts the authorities have ordered the local mandarins of people are still afraid to trust them. The high. different districts to issue proclamations advis. ing the pau, le to avail themselves of the bank notes which are accepted by the Government in payment of taxes and other duties.
:
SILK.
have gone of Police has given orders to prohibit the open- as carefully as possible into the presenting of new opium divaas, under heavy penalty position of the mine. I presume you are all and those hous s being used as opium divans aware that there is good paying ore in the mine. are to be closed where possible. The only question seems to be how much is avail- a'le. We cannot know that for three or four mouths. Meantime the money that comes in from the first calls will, we hope, be sufficient for developments. the next six or seven months will amount to We anticipate expenses for from 82,400 to $2,500, and inside of four months we ought to know whether it is worth while to continue developing the mine or whether it must be condemned and shut down. According to all present indications the mine has a good future before it; the shareholders shall have the fullest and speediest information as to the results of the analyses and developments. With reference to the preference calls still to be paid, amounts so far paid are: on the first call $15,040 I was told just before this meeting that the and on the second $12,165, making a total of 827,205. These figures show to be still due: on the first call 33,845, and on the second $6,720, a total of $10,565. I have been through most of the names, and they all seem to be good for the amounts still due. those who have not paid that they must do so We are again reminding immediately. Some are in Europe, and most of the money will be forthcoming without legal proceedings or other pressure. (Applause.)
The Chairman then moved, seriatim, the confirmation of the resolutions previously passed for the reconstruction of the Company.
Mr. Burkhardt seconded all three resolutions, which were unanimously carried.
The Chairman als moved: That Mr. Godfrey Heathcote Thomson of No. 2, Kiukiang Road, Shanghai, chartered accountant, band is hereby appointed liquidator for the winding-up of the Company.
Mr. Burkhardt seconded, and the resolution was carried unanimously.
you
The Chairman-That disposes of the business of the meeting, and I thank you, gentlemen, for
I your attendance.
tell may
that the and things are being put through as rapidly as necessary legal work is all pretty well in order possible. The first documents will be sent out to the shareholders at the earliest possible
moment.
Mr. Taylor-I beg to propose a vote of thanks to the new directors for taking up the work of the Company. They have some difficult work before them, but they have only taken up the duties after looking thoroughly into the possibilities of the mine, and making up their minds that there is every prospect of making a
success of it. We
gratitude. (Applause).
owe
them a
debt of
The Chairman We thank you for the words you have kindly uttered. You may be assured the Directors will be most careful in the interests of the Company.
CANTON NOTES.
[FROM THE “CHUNG NGHI SAN PO.”
KWANGTUNG FINANCES.
The financial department of Canton, named Sin Hau Kuk, has reported that the revenue colected in the province of Kwangtung in the 31st year of Kwangsu amounted to 7,316,000 faels against 6,916,000 taels in the 29th year. The ex enditure in the 31st year (amounted to 7,326,000 taels.
IMPUDENT ROBBERIES,
The cases of robbery are not decreasing in number, though the smart Viceroy has re- peatedly given strict orders to his subordinate officers. under threats of punishment and dismissal, to exert themselves to root out the robbers. News has reached Canton, from the Sam-Sui district, to the effect that within the last mouth, in a place named Tai-Long Wai, where there are many villages, over one hundred and twenty shops and houses were ransacked by robbers, who frequently made their appear- ance in broad day-light and plunder d on each occasion twenty or thirty houses. The robbers were too numerous to be resisted.
THIEVES KITCHENS.
|
The silk orope in Namhoi and Santak dis- tricts have been reported favourably upon during the preceding half year, but the silk market is dull. Some shops, dealing in this account of the poor trade doing. The rearing business in these districts have been closed on of silk worms is again proceeding, and the people are busily engaged planting mulberry
trees
THE COOLIE QUESTION.
EMIGRANTS UNOBTAINABLE.
There are now six South African immigrant steamers at Hongkong, two more up north and still two others to arrive from South Africa shortly, Coolies are unobtainable, and, further- more, the prospects for the immediate future are anything but bright. The Viceroy at Canton recently raised an objection to recruiting being carried out at any place but the Treaty Forts, ro Hongkong ceased to be the South China recruiting base in favour of Wuchow. After considerable time some recruits were secured at the latter port, but very few indeed, the men only volunteering by twos and threes. When a batch of these arrived at Hongkong it was elicited that they were rebels and criminals of various descriptions who had been given this one chance of escaping the penalty of their crimes. The officials in China seem to have com-
pletely blocked the traffic. At Canton, intend- ing emigrants have been ordered to disembark from iver steamers bound to Hongkong.
In the north the Chinese officials make various excuses to account for emigrants being unobtainable. They say that men are being
employed in great numbers rebuilding the works at Port Arthur, and that the farmers are holding on to them till after the crops are reaped.
Capitalists in South Africa are undergoing heavy losses, some of the steamers now lying idle costing them as much as £70 a day. By the various charters they are unable to get the vessels off their hands, except gradually Latest news from the north is to the effec hat "seven recruits are waiting, no more.”
THE CHINESE SPLEEN.
As the result of a playful "spar," a coolie named Chan Ching was arraigned before Mr. F. A. Hazeland at the Police Court on Feb. 28 on a charge of manslaughter. On the 17th Feb., in a matshed defendant and another coolie Cheung Ching, near Kennedytown, the were having a boxing contest after their day's work. Defendant hit Cheung Ching over the spleen, with the result that he expired shortly afterwards. The evidence of several witnesses was heard, and proved that accused touched deceased on the left side. When hit, deceased sat down and said to the defendant. "You struck me.' He died shortly afterwards. The defendant and deceased were always skylarking, and were on the best of terms.
22
Dr. Hunter gave evidence as to examining the body of deceased. He found the cause of death to be rupture of the spleen, which was six times its normal size and weighed three pounds. A very slight blow would be sufficient to rupture it.
The defendant, in reply to the question as to whether he had anything to say, said—“I killed In view of this evidence the Police withdrew
As the number of opium divans, (which ars | him by accident." the resort of bad characters) has greatly in- I creased in the city of Canton, the Superinten- the charge, and the man was released.
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