36
" mere
THE HONGKONG WEEKLY PRESS AND
they have actually increased the mischief | its irresistible appeals by fair women, and | they were intended to suppress. It is the fun and good humour which seem to declared that an appearance in a police pervade the place when women set out court on a charge of sedition in India was a to please and men are content to buy certain prelude to prosperity. Notoriety what they don't want. The result is that sent up the circulation of the newspaper and they are led to give twice when they only as sentences were light they constituted contemplated giving once. In this way the no great hardship. It has proved a terrible enterprise, must be regarded as extremely mistake the mistake of judging the Oriental valuable and one which should not be by the standard of the Occidental, All neglected where important issues are at Orientals have an extraordinary veneration stake and where the lack of money is fatal for the printed word, and the wildest to the achievement of the objects in view charges published in a newspaper_are, This Bazaar, then, is interesting not merely as a rule, unquestioningly accepted as as one of the means of swelling the Flood gospel. The result has been that the Relief Fund, but its most striking feature incessant and widespread propagation of is that it is an expression of Chinese incitements to violence in India has brought approval of some Western ideas. Not only about an extremely grave situation. Recent is it the first occasion on which Chinese have events have clearly shown the fully of attempted a Bazaar on the lines which most regarding incendiary articles as
of us know too well, but consequently it is froth. "
They are, as LORD MORLEY has the first time that Chinese ladies have taken said "froth stained with bloodshed." their part in such a function. Naturally it Lord MINTO in speaking on this spells change and doubtless progress. It subject quite recently said:-" We all means that the members of the fair know, at least everyone who watches the sex in this part of the Orient-and we daily story of Indian political life knows, do not speak of Hongkong alone, Can- that the lines of Indian thought are chang- ton having decided to follow the good ing, that embryo national aspirations are example-are likely to take in future beginning to take shape, and it will be a a greater part ia social life, and bad day for the British Raj and a bad day to for the people of this country if we ever allow the belief to spread that doctrines of murderous anarchy are even indirectly associated with the growth of those ambitions which British education has done so much to encourage." With this experi. ence of seditious publications in India we can understand the Batish Governments, sympathy with Japan in her efforts to prevent the sowing of literary poison in Korea, No question of the legitimate freedom of the Press is involved in the measures adopted, either in Korea or India
11
{CHINESE APPRECIATION
OF BAZAARS.
(Daily Press, July 15.) HIS EXCELLENCY THE GOVERNOR rightly described the Bazaar which he opened last Friday as an historical event. Undoubtedly the occasion is worth more than passing notice. It is not merely an effort, in the highest degree praiseworthy, to raise money with the laudable object of alleviating the wholesale suffering and distress caused by
the floods in South China, but it is an appreciation of Westeru methods. It is a tribute to the wisdom of the Occidental, and in paying this compliment to the West
the Oriental does not dishonour himself.
ĮJuly 20, 1908. far satisfactory, that not only was it provid ed out of actual profits of the year, but that it left untouched the other resources of the undertaking. On the other hand, and this was the most serious part of the position, and one that must be faced before long, the payment of a dividend prevented the directors making any provision for depre- ciation. It is quite true that the plant had by ordinary repairs and renewals been kept in going order, but none know better than the directors themselves that the plant is antiquated, and antiquated to such a degree as to very seriously interfere with the earn- ing power of the Company, and has been very heavily handicapping it for the last three or four years. in undertaking contracts. formed
When the affair was trans- into a limited company & fortunate sale of a steamer that it had salved and repaired placed the Directors in a position to effect very extensive renewals, while at the same time paying a handsome dividend to the shareholders; unfortunately from too sanguine hopes of the continuance of their good fortune, the amount accruing was altogether expended in paying an inflated dividend, with the result, foreseen by a few of the wiser of the shareholders, that ever since the affair has been handi- capped. The explanation offered by the Chairman, that they kept their present machinery up to date by effecting repairs when required, was by no means a sufficient reply to the complaint. Still, looking back at the circumstances of the year, and the crisis through which the entire trade of China has been passing, we may fairly con-
the an entrance into greater gratulate social activities which should have au educative effect on the women themselves and a progressive influence on the race leading to an acceptance of fresh ideas and to a mental breadth which can only result in good to all.
emerge from that seclusion and retirement which, though making for a certain refinemeut, does not make for the highest enlightenment-and suffragists and women's rights apart-there are few right minded
who wish to keep their women folks in ignorance or semi-ignoranc. Therefore this innovation may be regarded not as an additional amusement for idle women but as
men
SHANGHAI ĮDOCKS.
(Daily Press, July 16th.)
management on having replaced the Company in a sound condition, from which on the first symptom of a return of better trade conditions, it will be at once in a position to undertake extensive cou- tracts. After all, and this it is important to bear in mind in discussing the future, the Shanghai Dock and Engineering Company has no outside liabilities whatever, has a considerable amount of tangible outside assets, and so far from being hampered by overdrafts at its backers, has actually, in additiou to upwards of a million taels worth of stock in hand actually paid for, nearly four hundred thousand taels of hard money with its bankers. It is rare, in the Far East at all events, that a company should find its interest account stand at the right side, yet in this case, it has actually brought in a substantial amount to the credit of the year's accounts.
The result of the working of the Shanghai Dock and Engineering Co., Ltd., for the past year is not very satisfactory reading for the shareholders. Considering the high hopes that had been held out to investors by the amalgamation, a the promoters of dividend of five per cent, following on one of three per cent for the previous year, and that notoriously made out of what at best can only be denominated sweepings, is but a
Of course, in the ordinary course of busi- poor thing to show from the shipping of the Becond largest port in the Far East. Stillness, this is not an altogether satisfactory There are people, of course, who cavil at
even the bereaved shareholder may take position of affairs; the Dock and Engineer- Bazaars, people whose ultra moral sensitive- heart on discovering that the management ing Company is fundamentally an indus- ness or parsimony regard them as immoral has been pulling itself together, that many trial and not a financial concern, and the or dishonest, but most folks are content to I of its extravagances have been reduced, and Directors should see that its resources are ignore a discussion of the ethical considera- business methods introduced where lordly employed in its business, instead of being tions involved and to accept the institution indifference had been the prevailing spirit sunk in outside investments. The fact of with all its faults as the only method of To commence its new year, the company the matter has, however, been that owing appealing to the populace when money is finds itse with Tls. 300,000 on deposit in to the extraordinary financial crisis through required for deserving causes which offers hard cash, and with a balance to the credit which the trade of China has been passing, of current account of three-quarters of a Bazaars the greatest prospect of success.
there was practically no business forth- lac besides. might not be necessary if the financial result
True this is not a satisfactory coming; and as money came in for run-out was practically no way desired could be obtained otherwise. Sub-method of investing the capital, but looking contracts, there
on the state of confusion presented last year of investing it. It is only now that the scription lists go a long way--and, after all, where a community is moved with com-
and considering the long depression of trade worst of the storm has past that Shanghai passion for those in distress there is nothing that marked the year, this is probably the is beginning to realise how very serious has more effective than the direct appeal to isest, as well as the safest, way of putting been the result, and how very narrowly a The shrinkage in their sympathy and generosity-but the it momentarily by. In view of the tightness panic has been avoided. Bazaar is something that may be regarded of money in the Northern Port, and the the selling price of the Company's shares as supplementary. When people have given very serious strain placed on the shoulders has their quantum to any deserving object they of the community by the abnormal depres- feel that they have done their duty, but sion in the value of, not only the Dock in spite of having contributed so much of shares, but of all other genuine investment their means for sweet charity's sake, they stocks, it became a matter of necessity to show their susceptibilities to the subtle arrange for a dividend, if it could possibly fascinations of a Bazaar, with its attractive be done without compromising the position surroundings, its charm of feminine society, of the Company; the arrangement was so
been a contributing cause of the general depression, and has undeniably added to the burdens that had to be provid- ed for, so that even a five per cent dividend and the knowledge that the Dork Company was safe, and had earning power on the revival of trade, came period of almost universal gloom. Unfortu
as a relief in a
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