236
'I he CHAIRMAN, was understood to say that they could not retrench any further.
Mr. PERRY-Then if you cannot we are in no better position.
On the motion of the CHAIKMA 7, seconded by Mr. JUPP, the report was adopted.
The CHAIRMAN proposed and Mr JUPP seconded the re-election of the on. Mr. W. J. Gresson, Messrs. Babington and Wood to the Consulting Committee. Carried.
Messrs. W. H. POTTS and A. R. Lowe were re-elected auditors on the motion of the CHAIR- MAN, seconded by Mr. ↑ ERRY.
The HAIRMAN-Thank you for your attend. ance, gentlemen. Dividend warrants will be ready this afternoon.
CANTON INSURANCE OFFICE,
LTD.,
The report for presentation to the shareholders at thetwenty-fifth ordinary meeting, to be held atthe offices of the general agents, on Saturday, 20th October, at noon, reads:-The general agents and consulting committee beg to submit to the shareholders the final accounts for the year 1905,
1905 ACCOUNT.
The balance at credit of this is 8567,750.93 which it is proposed to appropriate in the following manner :-
$200,000 00 75,000,00 34,112.44
A dividend of $20 per share Addition to the reserve fund Addition to re-insurance fund Amount written off gold
securities
25,000,00
Balance carried forward to 1906
account
Total
233,638 49
$567,750.93 Owing to the rise in exchange the General Agents and Consulting Committee have decided to appropriate $25,000 to provide for the decline in the Company's gold securities as expressed in silver. These securities now stand in the Company's books at their market value.
CONSULTING COMMITEE,
Since the last meeting Mr. E. Shellim resigned his seat on leaving Hongkong for Europe, and Mr. D. M. Nissim was invited to fill the vacancy. This appointment requires the confirma'ion of shareholders.
The Hon. Sir Paul Chater, C.M.G., Messrs. F. Maitland, H. P. White and G. C. Moxon retire, but being eligible, offer themselves for re-election.
AUDITORS.
The accounts have been audited by Messrs. W. R. Potis and H. Percy Smith, F.C.A., who being eligible, offer themselves for re- election,
JARDINE, MATHESON & Co.,
General Agents,
STATEMENT OF ACCOUNT FOR THE YEAR ENDING
31ST DECEMBER 1906.
Amount paid-up
LIABILITER.
$2,500,000.00
Capital subscribed
Reserve fund
Re-Insurance fund
Outstanding dividends.
Accounts payable
Balance of working account, 1905
Total...
ABBETS.
Cash, on current account with Hong- kong & Shanghai Banking Cor- poration
Fixed deposits, with Banks in Hongkong Mortgages and Debentures, in Hong-
kong and Shanghai Chinese Imperial Government Loan, 1886 United States Bonds, (4 per cent. Loan,
1925)
Japanese Government Bonds
Total
WORKING ACCOUNT, 1905. Losses and Claims paid
Charges, including directors', auditors' and survey fees, agents'expenses, &c. Commissions
Balance as above
Total...
Amount brought forward from Inst
Bocount.....
Net Premia received, less returns and
reinsurances
Interest
Transfer fees
Exchange..
Total.
THE HONGKONG WEEKLY PRESS AND
SOUTH MANCHURIA RAILWAY COMPANY.
EXTENSIVE 8C PEF IT3 BUSINESS.
1138
[October 6, 1906.
produce is sent by rail to Tairən for shipment to Japan the industry is sure to make rapid progress.
CANTON.
(FROM OUR CORRESPONDENT)
September 27th.
OFFICIAL MOVEMENTS,
trate to Kaa-kong, where he will hold an Viceroy Sham has sent the Nam HM gia
inquest on the people who were killed in the riot, and investigate the one of the disturb-
ano..
Judging from the fact that many promising undertakings in Manchuria are included in the business of the South Manchuria Railway Company it is evidently intended by the foundation of the economic administration in Government to make the new company the the territory, remarks Mr. Sasaki, Director of the new Tokyo Railway Company, in his ontribution to the Oriental Economist.
As England made
of the East India. Company for the deve o ment of India, so Taotai Tuan Shu-Wan has been appɔintel Japan aims at ntilising the rai way company Chief Inspector of colleges and schools of the for a similar purpose. Apart from the question Kwangtung Province by Viceroy Shan, vice of the advisability or otherwise of allowing Literary Chancellor Yu Sik-Mul, who bas the company to engage in such business as resigned and is proceeding to Peking for harbour works, maritime carrying trade, or electric lighting, there is little doubt that the the Literary Chancellor recived a cablegram audience by the Emperor. It is raporte i that company's right to carry on coal mining and from Paking this morning appointing him warehousing along with the railway business, President of the Kwangsi Railways. Cao will have a most beneficial effect in the develop-Sew Chok has been appɔinted Vios President ment of Manchuria. Some people may Chou Hok Yaen, seventh son of Viceroy Chou blame the Government for permitting the Fn, has resigned from his positions as Chiel ground of the failure of a similar policy in Yamen of Cintou. company to engage in coal-mining, on the Superintendent and Secretary of the Military respect to the Hokkaido. It must be remem.
He was compelled to send in his resignation as the Ta Ching law forbids bered however, that circumstances are different both father and son to hold official positions in as regards Manchuria and the Hokkaido. The
the same province. fact that the Hokkaido Colliery Railway Com. pany has been compelled to attach more import- anoe to its own business even at the expense of retarding the development of the island as a whole must obiefly to attributed to the in- adequate equipment of transportation facilities. With regard to Manchuria, however, a speedy opening up of its resources can hardly be expected noless coal-mining is allied to the railway business. The transport capacity of the Manchurian railway when it is altered into the standard gauge as is intended, will be such as making provision for the mining business. to leave ample room for public demand after
will be observed that the establishment of "uraing to the warehousing business, it large warehouses at every important station where goods may be stored as occasion requires should be regarded as a progressive s'ep in the American railways, it seems, a similar thing is railway business. On some of the great already being done. The practice of sending a large quantity of goods from the producing districts direct to the centres of distribution irrespective of the condition of the market is the equilibrium of the mar et, resulting in a not a very good plan. It is often liable to upset
fall in price and consequent loss. If, on the other haud, goods are stored at warehouses within easy reach of the railway, and transac- tions are carried on and deposit receipts issued by the warehouses, a better balance between
demand supply and
would be miintained and the producers will be less liable to loss. $ 500,000.00 According to the orders received by the 1.60.0.0.00 company from the Government the line is to 165,887.56 he reconstructed on the standard guage of 4ft.
8,043,00
8 in. within three years from the commence- 82,994 46 567,750.03
ment of business. This means that the Japa. ! nese Government attaches more importano to $2,924,675.95 railway connections.in China and Korea than to those with the Siberian line. It is considered that the reconstruction of the Manchurian 69,208.87 railway on the Russian gange would not only 225,000.00 involve a greater expenditure of money but the Japanese authorities erid-ntly consid r it 2,031,528.52 inadvisable from a military pint of view. It 44,078.18 would be a mistake to suppose that because the South Manchuria Bailway Company has a 164,860.38 momopoly of so many promising businesses there will be no profitable enterprisas left for $2,924,675.95 individuals of private companies iu Manchuria, esides the manufacture of salt, for which a $1,182,771.82
company is now being formed on a large scale, mining and the manufacture of bean cakes would be amongst the most profitable and suce-ssful undertaking. The latter, especially, will
prove a very lucrative industry when the harbour works of "airen and the shipping arrangements are completed. At present the industry is carried on by Chi- nese in the neighbourhood of ewchwang 200,350.62 by primitive methods beans which are sent
2,394.29
down the Liao by jan s being the material used. If large factories are started at Tiehling $1,969,161.49 or vicinity where beans are produced and the
$
400,000.00
83,019.04 135.619.70 567,750.93
$1,969,161.49
$ 211,540.38
1,554,809.20
67.00
A TRICKY THIEF,
Chan Fook was arrested by the river police for larceny on the s.s. Kwong Chow. When brought before the magistrate for trisl he had a fainting f'. He was immediately removed to the Government Hospital in the North Gate, whenes he escaped. It is said that one of the hospital servants recognized the prisoner as s and twice disappeared. Strict search is being man who had twice been admitted to the hospital
e will no doubt be severely
made for him.
panished when arrested.
KIDNAPPED.
over one
Every year thousands of men and women worship the image of the famous melical visit the Wong Tai Sia Temple at Fah-ti to practitioner of Canton who died thousand years ago. The Chinese believe that the dead doctor's prescriptions will sot as a wealthy merchant here, surnamed Ho, who has panacea. On the 25th instant, the son of a been ill for some time, went to worship the medicine man's spirit. While in the temple he was kidnapped by robbers, who afterwards dragged the young man and took him to s hotel in Fat Shan. Fortunately the proprietor, who was formerly a school-mate of the victim, at once recognized him. The pitiable condition of the poor fellow roused his suspicions and he immediately reported the matter to the police who succeeded in arresting one of the robbers.
RIOT IN FAT SHAN.
A riot broke out in Fat Shan on the 25th instant on account of the officials imposing a house-tax on the bats occupied by the poor people. Fortunately the magistrate sent an armed force in time to disperse the mob before anything serious happened. It is reported thatseveral soldiers were wounded.
STRUCK BY LIGHTNING.
The Hop Kee passenger jaak while on a voyage from Fat Shan to Canton was struck by lightning on the 26th instant. The stern of the junk was out clean off and she immediately bank.
Canton, September 28th
VICER Y SHUM.
It is reported that His Excellency Viceroy Sham has again memorialized the Central Government that he may be granted immediat» leave to proceed to Shanghai to recruit his health before proceeding to Yuanan to take ab his new appointment. In his memorial he msa- tioned that he has had another relapse of illness and implɔred the Throne to permit him to deliver the Viceregal Seal sad taru over all public functions to His Excellency Shan, the Tarlar General. It is doubtful whether the Throne will sauction his request. He has chartered the China Merobants' steamer
Kwong Li" which left Shanghai two days ago. Preparations have been made for his family to embark by that steamer on her ar- rival here. Viceroy Chou Fu、has als› memo.
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