··-260
will, it is expected, be bought in Canada, unless the boycott against United States goods | is raised before that time. A few electricians may be taken from this province, but the majority will be obtained from among th Chinese in Hongkong, who have received t ain. ing in electrio work. It is found better to employ the Oriental, as the whites do not seem to work amicably with the Chinese.
༈
The stock will practically all be subscribed for in British Columbia, the merchants in this province standing ready to put up a large portion of the two million dollars necessary. White stockholders will not be allowed in the company, as their presence in the company would expose the latter to the forfeiture of their charter.
so narrPOW
It is also intended to seek from the city of Canton a concession of the light and power privileges. The streets there are that some difficulty would be experienced in attempting to secure the franchise for a city street railway system, although this may be sought later.
The population of Canton is about two millions, and of San Wu about half a million people.
In 1895 Lim Dit perfected and applied for a patent on an improved device for electric rice mill machinory-the first patent to be issued to a Chinaman in British North America.
SHANGHAI AND HONGKEW
WHARF CO., LTD.
|
THE HONGKONG WEEKLY PRESS AND
in the raising of floors of god was above flood level; we estim te that an additional Tls. 50,000 will require to be spaal to complete this work aud have further to make provision for our annual repais. This, gentlemen, explain why we ask you to plac to the credit of this account Tls 00,000, aŭd I trust you will appr ve cur recommendation. Building
Reserve. Our auditors drew attention to the name of this account which they consider misleading, as the cost of new buildings cannot properly be charged to it; wa therefore propose, wi h your Rauctio that for the future it appear in the balance sheet as reserve food.
THE SHANGHAI WATERWORKS
CO.,
LTD.
[April 7, 19:6.
REMINISCENCES OF AN OLD: CHINA HAND.
Sir Thomas Sutherland, at the London
the 8.8, inspection of
Devanha said : - Coming down here to-day I was asked "Daranha" was
|
meant. what the "D vauba" the anci sot name given to the loodity w now spak of as Aberdeen by the Roman centurions who arrived at that northern capital. They found they had got far enough North, and they returned South That is an example which has since been followed by a good many people. of that neighbourhood (langhter)..
one
some
recollect that at the time of which I have been speaking the mails were not so punctual in arriving at Hongkong as they are to-day. A delay of a day or two or three days was looked upon as a perfectly natural thing, Bad a delay of even a week sometimes happ ned. Now, however, all that is changed.
A CHINESE TRAIN DE LUXE.
Sir Thomas Sutherland can look back to the time when the mail service to China was not carried on by ships of 8,00 › tɔos, but ships of less than 800 tous, which was about the average At the annual meeting of shareholders in
size of the vessels engaged in the mail service the Shanghai Waterworks Company, held ou towards China when he was a youngster. March 28th, Mr. A. McLeod presided. He said, Looking back in part, the report and accouu's for the past
to that fim, he remirkel recently, cannot help feeling year have been in your hands for some days and
amount of envy regarding the rates of I presume you will consent to take them as read. freight and rates of passage money which With regard to the accounts I think you will were paid in those days. The rates of freight agree with your Directors that they exhibit
from China on silk, for in-tance, amounted to A very satisfactory result
for the year's £24 a ton. Opium was carried from India to operations, the gross revenue for 1905 show
China at about £18 a too, and silver was caried ing au increase of Tls. 36,000 over that
at the low rate of 24 per cent. between London of 1904, but although our income shows and Hongkong (laughter). It is within my a really sa isfactory advance it is ou the recollection that on one occasion I loaded a other hand to be taken into con ideration that small vessel of 650 toos with a freight which our working expenses have also been heavier, earned the P. & O. Company £30,000. It is and that from circumstances over which the
another reminiscence of the same period that I directors have practically no control. On the
have known a P. & 0. captain come and pro. expenditure side of our working account, The following report of the speech of the salaries, wages, repairs to mains and works, e.c..
test against his ship being chiefly loaded with silver freight. The passage money was on a Chairman at the annual general meeting of the show an increase of Tls. 10,000, coils Tls. Shanghai and Hongkew Wharf Co., Ltd., held 2,000, general charges Tls. 1,000, legal expeuses not be conveyed from London to Hongkong par with the freight in those days. You could at Shanghai on March 27th, includes all the Tls. 1,200, leaving a net balance in favour of for less than £15', and, at the then rate of material facts. The year under review has been 1995 of about T1-. 20.000 over that of the pre-exchange, the pissage money home was 600 the most prosperous the Company has yet vious
year. Our profit and loss account
tiels, or £0 sterling. I am afraid we shall enjoyed, the godowns have been filled with cargo shows a credit balance of Tls. 210,30461 as
never see those days again. I hope that half and our storage accommodation has not only against Tls. 151,737.11 in 1994, which is a
a century hence the chairman of the P. & O. been taxed to the utmost, but, to our great gratifying increase ou the working of the
Company will be able to speak of B regret, we have had to turn business away for company's business for the past year, leaving
DAW Devanha which will be treble the want of space. I would here remind you,
the former sum now at the disposal of the
size of the ship on board of which we are to-day. gentlemen, that our past experience has been directors for appropriation.—Balance Sheet. that a year of plenty is followed by a year or You will notice some important alterations in more of leanness, and it wou d almost appear the figures in this account as compared with those impossible, even making every allowance for of 1904. Our capital has been increased from increased requirements supplied from this 7,200 shares to 8,175, by the issue to the Munici- distributing centre, and the undoubted expand- pal Council of 975 shares gratis, in the term of iog trade of the place, that the volume our new agreement, and as you are all aware the of the merchandise imported in 1905 030
first call of £5 per share on the authorized issue be maintained throughout the year 1996. of 8,175 new shares has been made and has
before With these facts
them it has produced Tis. 256,361.08, which appears under been a difficult matter for your Directors to the heading of liabilities. On the er dit side determine what would be a safe sum to expend of the account you will notice the large sum of on increased godown accommodation, aud after Tls. 359,587.60 expended on the purchase of real mature consideration a building programme bos estate, extensions of works, mains, plant. etc., been sanctioned, entailing an expenditure of close necessitated by our rapidly increasing business, on five lacs of taels. To provide the necessary while the issus of 975 shares to the Council, fucds the general agents trust that there will
which is practically the price paid for our be a renewed demand for debentures of the Com-franchise, figures at Tls. 135,898.36. pany, and in the meantime they have agreed to advance the money required, In September last Shanghai had the misfortune to be visited by a typhoon, and, due to a combination of causes, the water in the river rose to an unprecedented extent, flooding not only the godowns along the bank but also those in the heart of the Settlement. Your property suffered consider. able damage, and to our great regret the contents of many godowns also suffered, causing loss to our constituents, To, as far as in our power lies, obviate the recurrence of a similar loss, we are having, as opportunity allows, the floors of all godowns raised to a level considerably over that recorded in September last at the various wharves. Turning to the accounts, the balance of working account for the year is Tls. 638,685.49, an increase of Tls. 234,193.35 over that of the year 1902 which previously consti- tuted a record of the Company. But while our earnings show a satisfactory expansion, our expenditure grows even more rapidly, during the last few years taxes bare beeu more than quadrupled, wages have more than doubled and new buildings cost more. Property account has been increased by Tls. 115,526.82 for additions during the year. Repairs account. We started 1905 with Tls. 59,000 at credit of this account, and this sam has been reduced during the year to Tis. 734.03. The principal item of expenditure has been the renewal of over 6.0 feet of Pootung- Wharf. A certain amount has been expended
You
will see from the report that the directors recommend the following appropriation of the balance at credit of profit and loss account, and they trust you will approve of same :- To payment of a final dividend of 37,6
per share at ex. 2/97
To payment of 6 months dividend=
26/3 at 2/9 per share upon the S. M. C.'s 975 shares
To transfer to Reserve Fund (increas
ing it to Tls, 190,000)
To carry forward to New Acconut
KA
The
The Hank Daily News of March 24th says-On Thursday afternoon a very interest- Iraia de Lure which is ing trial of the intended to run between Peking aud Hankow place. A number of visitors were invited aud and vice versa on the Lu-Han Railway, took
the trial was made with the most satisfactory results. The distance run was from the ten kilometre station to Hankow; the air brakes were tested several times and acted splendidly. train was composed of engine, a twenty ton goods car, fully loaded, a third-class Chinese open car, a luggage van and sle-ping car, a dining car, two first-class sleeping cars, a luggage van and postal car combined, a third-class carriage and The sleeping twenty ton goods truck. 9,066.42
arrangements on both the first and second-class carriages differ from the American Pullman car system, and much resemble, in arrangements, those on the Trans-Siberian Railway. Each compartment is fitted with four banks or beds, the upper banks, however, can be taken down and the compartment made in- to one or two. The Cars
Tis. £5,645,75
20,00.00 85,592.14
Tls 210,304.61
I might mention that we have considered it prudent to carry forward a mach larger sum than usual, in view of the fact that we shall have to pay dividends during 1906 upon an increased capital, and though we hope to see our revenue expand, we shall require some assistance from the earnings of 19 5, in order to maintain the rate you have been accustomed to receive during the past few years.
The plague return for the three months ending March 31st gives 103) cases, 97 dentbs. In the 48 hours succeeding that report, there were five more cases, four of them fatal. One of last week's 27 cases was a European. During the wk there were twelve cases of smallpox, all Chine, Eleven of the twelve diet.
a
are
comfort.
ably and substantially made, and with a well. appointed dining car attached to the train, passengers travelling between Hankow and Peking will enjoy every luxury. There is electric light in the first-class carriages and fitted out in first-class European style. the dining oir.. In fact the whole train is
The train was intended to leave Hankow for Peking yesterday empty and after the in. spection by the Chinese officials there the Train de Luxe" will leave Peking on its first regular journey with passengers, etc., about 15:h April, after which there will be a regular weekly service from either end which is expected to complete the distance in thirty-
six hours,
T
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