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Lieut. Anderson, "friend" of Lieut. Mackenzie Grieve read the testimonials held by the latter.
The Court was then cleared.
Оп re opening, all the witnesses being present, the Judge Advocate read an extract of the finding of the court martial which tried the officers of H.M.8. Viper' after she stranded.
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The Court was again cleared.
The finding of the Court was that the charges were proved except that relating to negligence. The court was of opinion that Captain Nugent should be severely reprimanded and cautioned to be more careful in future and that Lieut.
Mackenzie Grieve be reprimanded.
HONGKONG CORINTHIAN YACHT CLUB.
The annual meeting of the Hongkong Corinthian Yacht Club was held at the lub House on October 17th when Dr. F. Clark
(Commodore) presided over a large attendance
of members,
The CHAIRMAN stated that when they met twelve mo.ths ago the committee laid before
members a statement to the effect that the
assets amounted to $86.57, and the liabilities incurred principally in connection with the terrible typhoon of September 18th, amounted to at least $600. That was to say that damage to that extent was done to the Club's property in the typhoon. As a result of that condition of affairs be advised that the subscription should be ing eased from $5 to $10 a year, and
to the best of his recollections members were unanimous in adopting that recommendation. There was some feeling at the time that pos ibly a few members might leave in consequence of the increased subscription, but it was obvious they had to m ke some effort to meet the liabilities. The result of that action was that
THE HONGKONG WEEKLY PRESS AND
The suggestion that a special Club boat should be kept at the Club house is to be considered, while the appointment of a sub-committee to supervise motor boats was left in the hands of the general committee.
The acting secretary's report to the members read as follows:-
Gentlemen.It is good for the Club and pleasant for me that I should be enabled in my capacity as secretarial locum tenens to present to you an annual report teeming with features compelling congratulation.
The year has witnessed the accelerated progress of our institution towards that predominant position in the Colony that we all hope and hope faithfully-it is yet to occupy.
Our membership now totals 219, an increase of 94 during the year.
Arst
[October 19, 1907.
THE NEW COMPANIES BILL.
Following is the text of the new Bill now before the Legislative Council:-A Bill entitled An Ordinance to amend the Law relating to Companies.
Whereas many companies registered under the Companies Ordinance, 1865, carry on basi- ness in places outside the Colony and dealings in their shares are frequent in such places, but there no provision for keeping local registers of members, and it is expedient that such pro- visions as this Ordinance contains be made in that behalf.
Be it enacted by the Governor of Hongkong with the advice and consent of the Legislative Council thereof, as follows :-
1. This Ordinance may be cited for all purposes as the Companies (Extra Colonial Registers) Ordina oe, 19.17.
We have had a very good sailing season with plenty of boats and prizes, having held sixteen One Design Class races, including the Com
2.The Companies Ordinance, 1865," is modore's Cup won by the Gael, Fas second, hereinafter referred to as "The Principal Foan third; Mr. Ramsay's prize,
Ordinance"; and the Principal Ordinance and third Gael; Vice- this Ordinance are hereinafter distinguished as Thecla, second Joan, Commodore's Cup, first Joan, second Gael,
and may be cited as "The Companies Ordin. third Ariel; "China Mail" Cup, first Gael, all
&nces, 1865 and 1907;" and this Ordinance other boats gave up the race having strong north-shall, so far as is consistent with the tenor east wind with a lot of sea running; the Club Championship Cup first (ael 53 points, second thereof, bread and construed as one with the
Principal Ordinance.. Joan 34 points; Offi il Cap, first Joan, second
3. In this Ordinance: Asthor, third Thecla; Warren Cup first Ariel, second Gael.
The Cruiser Class held fourteen races
including Dr. and Mrs. Jordan's priz, first Tremona, second Annie; Sir Paul Chater's prize, first hanticleer, second Annie. In the Championship event Annie Chanticleer second.
was first and
the following being the successful winners: ---
Motor Boat Saction.-Six races were held,
Vital Spark, Sigual and Tamar.
I may also mention as a matter of fact if not a matter of course that our sailing season had ending. The opening cruise at Laichikok was an excellent beginning and an equally excellent
favoured with yachtsman's weather and a large
and happy company of members and friend. The same conditions att nded the closing cruise latter event, the Warren Cup, provided by at Futachau. A new trophy figured in this subscription to preserve the memory of a popular prize for the race to Futachau. It was won on and prematurely deceased member, being the that ocasion by the Ariel, and its first and present holder is Mr. Templeton.
C
11
The term company mesas a company registered under the Companies Ordinance, 1865, and having a capital divided into shares.
The term "shares" includes stook.
4-(.) The Governor-in-Council may at his discretion issue an annual licence to any company whose objects comprise the transaction of business outside the Clony, if such company is authorised so to do by its regulations as originally framed or as altered by special resolution, empowe ing such company to keep in any place in which it transacts business a register or registers of members
to
(2.) An annual fee at the rate of four cents for
bundred dollars of the paid up every
the capital of
company
which the licence is issued shall be payable in respect of such licence. Such fee shall be paid to the
each year. Colonial Treasurer prior to the 30th Jane ia
twelve months ago they had 125 members, and at present they had 2.9 (applause). That wa to say there was an increuse of 94 members, or in other words the membership had almost, but not quite doubled itself. From the balance sheet members would see that whereas they were in debt last year, this year they had a balance of $182.-7. They had then a balance in hand, but they had spent the comparatively large sam of $1467.43 on the building and landing. They had built a retaining wall at considerable expense which would stand any ordinary blow, although it might not possibly withstand a heavy typhoon. The Club had been able to give $424 in prizes during the year, and that was entirely apart from the considerable num- ber of prizes given by members and friends. They had paid, as they were bound to do, interest bis many cronies, has been greatly appreciated. and shall be prima facie evidence of all par-
on debentures, and bad redeemed three debentures belonging to former members who had left the Colony for good. As the secretary had given very complete account of the year's work, he did not think it necessary to give an account of the prize winners, and concluded by moving the adoption of the balance sheet, remarking that he would be pleased to answer any questions members might wish to ask.
Mr. D. TEMPLETOS seconded the motion, and in doing so threw out the suggestion that
in the next balance sheet the treasurer and committee should show the debenture account.
The COMMODORE thought all members knew that the debentures stood at $1500, and as they had repaid $75 their liability was still $1425. He quite agreed that the debenture account should be shown in the annual statement, and next year they should show the Club's assets.
Mr. THORNE-Has any allowance been made for outstanding vouchers and coupons ?
Mr. MOKIRDY stated that the production before members was not intended as a balance sheet, and it was headed working account. In reply to a former speaker he suggested that the books be arranged so that the liabilities aud assets could be shown. He had carried on the books in the way the former man started them. The election of officers was then proceeded with, and resulted as follows:-Commodore, Dr. Franois Clark; Vice-Commodore. Mr. E. Ma Hazeland; Secretary, Mr Lewis Guy; Trea- surer, Mr. A. MoKirdy; Offical Measurer, Mr. W. A. Crake; Deputy Measurers, Messrs. E. F. Gibeon and C. Cooke; Committee, Messrs. J. Hand, M. Molver, J. McCorquadale and D. Templeton.
New interests have attracted new members and cemented the loyalty of the old, The under the provision of bathing facilities expert and enthusiastic supervision of our most energetic treasurer, assisted by some of
This led inevitably to water polo, and in our very first season our team has established itself as a force to be reckoned with. In other ways our swimmers have distinguished them selves and brought new honours to the Club, carrying off a good percentage of prizes at the sports held by our friendly rivals, the
V. R. C.
We have ordered one four-cared rowing boat from Home and one pair-oared rowing boat locally, and already have every prospect of seeing the letters C.Y.C. well to the fore in competition with our contemporaries, the Royal Hongkong
Yacht Club and the V, R. C. This new
departure has obtained the sympathy and/or the support of the majority of our members,
Eocially, the Club premises have become very popular and the improved appearance of our surroundings will already have been noted.
Special thanks are due to Mr. Cruickshank for his kindness in undertaking to give personal attention to our interes's in connection with
the rowing boat built at home, as well as to the donors of prizes above-namet. Sgd.] H. Pear- man, Acting Hon. Secretary.
The Japan Chronicle records the death of the Lady Nakayama, mother of his Majesty the Emperor of Japan, which occurred on October 4th. Her ladyship, who has been siling for some time past, suddenly sank into a dangerous condition that morning, and her Majesty the Empress was hastily summoned to the residence of Lady Nakayama at Min mi-machi, the arrangements for her Majesty's journey being so speedily concluded that the usual escort was dispensed with. The late Lady Nakayama was 73 years of age.
oyama,
(3) The company shall give to the Registrar of Companies notice of the situation of the called an extra colonial register) is kept or office where any such reg'ster (in this Ordinance proposed to be kept and of any change therein, and of the discontinuance of any such office in the event of the same being discontinued.
(4.) An extra colonial register shall, as regards the particulars entered therein, be deemed to be a part of the Company's register of members,
tionlars entered therein. Any such register shall be kept in the manner provided by the Principal Ordinance, with this qualification, that the advertisement mentioned in section 40 of the Principal Ordinance, shall be inserted in
some newspaper circulating in the district wherein the register to be closed is kept.
(5.) The company shall transmit to its re- gistered office in Hongkong a copy of every entry in its extra colonial register or registers as soon as conveniently may be after such entry is made, and the company shall cause to be kept at its registered office, duly entered up from time to time, a duplicate or duplicates of its extra colonial register or registers. The pro- visions of section 39 of the Principal Ordinance shall apply to every such duplicate, and every such duplicate shall, for all the purposes of the Principal Ordinance, be deemed to be part of the register of members of the Company.
(6.) Sabject to the provisions of this Ordinance registered in an extra colonial register, shall be with respect to the duplicate register, the shares distinguished from the shares registered in the
principal register, and to transaction with respect to any share registered in an extra colouial register ab ll, during the ontin as009 of the registration of such share in such extra colonial register, be registered in say other register.
(7.) The company may discontinue the
keeping of any extra colonial register,
and thereupon all entries in that register shall be transferred to some other extra colonial register kept by the company, or to the register of members kept at the "registered office of the company.
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