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guilty of negligence. They wished to express the opinion, however, that the Government at ...that time was very much to blame in not inspeot- ing the buildings daring construction, and therefore they recommanded the prisoner to the leniency of the Court in the extenuating oir- cumstances.
His Lordship—I agree most entirely with the jary's verdict. The case has received at their hands a very careful consideration, and I think it was the only possible verdict for them to arrive at. But in passing sentence I must naturally take into consideration the recommen. dation to mercy with which also I agree entirely, and which, I think, was a reasonable one to have made in the circumstances. I want
to say, also, that questions of this kind are of very great public importanos, and had there not been a recommendation to meroy I should consider that a fine is hardly a penalty for negligence of this sort, and that imprison- ment is the only punishment which really meets the gravity of the case. I make these remarks spacially because one of the objects of the Building Law is to deter others from commit. ting a like offence, and it is, I suppose, a general opinion that scamped work is only too prevalent in the Colony. There are other circumstances which perhaps I should have dwelt
for or certainly counsel prisoner would have dwelt on, and that is. the fact that the prisoner did not do this for a reward, and there may have been the possibility of incompetence rather than negli. gence. This said, I think the proper sentence will be one day's imprisonment,
on,
the
His Lordship then thanked the jury for the ore they had given to the case, and discharged them.
HONGKONG'S REVENUE AND
EXPENDITURË.
A comparative statement of the Colony's revenue and expenditure for the period ended August 31st is published in the current issue of the Government Gazette, and affords some
interesting comparisons with the revenue and expenditure for the same period of the previous year. For the period under review the actual revenue, including that derived from land sales, was $4,055,569 72, a decline of $483,489.92 on te revenue received for the same period of the preceding year. Including Public Works Extraodinary, the actual expenditure totala $4.1 1,559,37 || as against $3,776.925.22 for the corresponding period of last year. Some very substantial decreases are shown under the heading of revenue, notably licences and in- ternal revenue not otherwise specified, which show a falling off of $3 9,363.37. The receipts from the once productive item, land sales, ar- still on the decline; they have fallen to $61,814,57 below last year's revenue from this souros. Other items showing decreases are the Post Office, $16,834 05; interest receivable, $14,992 82; and fees of Court or Office, etc., $3579 88. Increases under the beading of revenue, unfortunately, are few. The greatest is an amount of $16,663.32 for rent of Government property, land and houses, : The amount received on miscellaneous receipts has risen to $6,378.54, while on light dus the amoun realised was $552.91 more than for the same period of the preceding year.
Turning to expenditure, it is distressing to compare the large increase column with the small number of items in the decrease co'nma. Topping the oolama of increases is no amount of $170,073,69 for Public Works Extraordinary. Other prino pal increases on the expenditure for this period of the current year, as against that for the same period of the preceding year, are:- Charge of account of public debt, $80,152.67; Military expenditure (military contribution and Volu teers), $50,851,59; Charitable services, $29,057.04; Public Works Departmen', $20,705 85; and Judicial and Legal Departments. $18 704.3. The total decrease in expenditure is $40,085.45, brought about by reductions in Public Works Recurrant of $32,997,85; n the Harbour Master's Department of $6 035,68; and in the Sanitary Department of $1,131.92. The net increase in expenditure amounts to $414,623;
THE HONGKONG WEEKLY PRESS AND
PUBLIC COMPANIES.
HUMPHREYS ESTATE AND
*
FINANCE CO., LD.
:
The adjourned extraordinary general meeting of shareholders in Humphreys Estate and Finance Co. Id.. was held at the Company's offices at noon on Saturday. Mr. H. Humphreys presided, and there were also present Dr. J. W Noble, the Hon. Mr. H. A. W. Blade and Messrs. J. A. Jupp, J. W. Bonnar (directors), Enos Beth (secretary), C. B. Buyers, G. Rapp D. R. Clark and J. M. Wong.
The CHAIRMAN moved that the following resolution, which was passed at a meeting held on October 8th, be confirmed as a special
resolution :-
2
That Artiole--No. 54, of the Articles · of Association of the Company be cancelled "and the following Article substituted "therefor "Three Members personally "present shall be a quorum, for an Ordinary "General Meeting. For all other Meetings "the quorum shall be five." "That Article No. 111, of the Articles of "Association of the Company be altered by 'deleting the words the Governing Director or by two ireotors on the seventh line thereof and substituting the following "words therefor:-'The General Managers,' Mr. BUYERS Seconded the motion, which was agreed to unanimously.
The CHAIRMAN-That is all the business, gentlemen. Thank you for your attendance.
WILLIAM POWELL, LD.
The annual meeting of Messrs. William Powell, Ld, was held at the offices of the Company, at noon, on Cot. Šlat. Mr. E. H. Hinds presided, other shareholders present being Messrs. H. Fyre (manager), H. Peroy Smith, A. E. Parker, H. Jillings and J. Arnold. The MANAGER read the notice calling the meeting.
The CHAIRMAN said: Gentlemen,- The re- port and accounts having been in your hands for some days, I will, with your permission, adopt the customary curse and take them as read. You are aware that since the last annul mest- ing the capital of the company has been re- duced by special resolution to $105,000. This redaction, as suggested to you at the time, will ba utilised for writing down our stock. I would state, horever, that the amount appearing in the account before you for stock is the actual cost value laid down here, bat in a business of this description the depreciation owing to spoil age hrough climatic conditions is enormous, and we find that this matter of depreciation bas not been sufficiently allowed for in the past. When this company was formed a large amount of stook was taken over, a quantity of which is very rarely inquired for, and we propose to clear this out at auction or otherwise making room for goods more readily saleable. I am glad to say that the volume of business has not diminished, in fact, it shows a slight increase, but to enable us to maintain it, prices hava had to be materially reduced owing to change we have made in our capital will again severe competition. We anticipate that the place us in a position to show a balance suffi- bient to pay a dividend next year, and ou the termination of our presentį lease we hope to go into premises of a more suitable astare and at a greatly reduced rental. We have about three more years to run, and although your former dir-otors and management may have ben car- ried away with the boom which existed at the time these premises were taken, I can only say that they fettered the future management with an expenditure more than the business warrant ed. Before moving the adoption of the report and accounts I shall be pleased to answer say questions shareholders may wish to pat regarding same.
Mr. PARK&B-I would like to ask, Mr. Chairman, whether it is inferred from that report, that the previ as management wrote off. less for depreciation of stock than the present management has donɑ?
:
The CHAIRMAN-I could not say whether less depreciation was written off in Mr. Hook ford's time than at the present time.
Mr - Pangan =) takeḍif that the aggroqsaro available, Mr.' Chairman ?
The CHAI
Etbiák:they are in the old reports. We were able-to-write of more in previous yours then we did last year. (We havO absorbed 35,000 frour the equalisation of dividend present we are not in a position to write off. fund for the purpose of writing off, and at
for nerly there was not audient, written The present management" still thinki”, that and that the dividends paid were too large.
the old days of the Company, when thố nhữro Mr. JILLINGS-I would like to ugh that
salaries to $2,000. I now think, sinos we hive were increased we also increased, the dienstőrs'
reduced the shares even lower than the ordinary ospital, that it would be wise to reduce the salaries of the directors, and, I will move to that effect;
Mr. PARKER ssconded.
Thə CH \IRMAN—I think it is usual to give ́ notice of these propositions,
Mr. JILLINGS-I am not sure, whether have the minutes of that meeting.
The CHAIRMAN-I am not sure that it was not done at a confirmatory meeting. Regarding the proposition before the meeting, I might
that I am not in a position to announce whether Mr. Moxon would accept the reduction. So far as I am concerned, however, I should be very pleased to hand in my realgnation at shy the last six months. The worry and trouble in moment; in fact, I have been willing to do so for
the management of a concern like this is rather grest.
that when a Company is hard pressed it is very Mr. JILLINGS—I quite realise. Mr. Chairman,
unfortunate for the directors, I certainly agree with you there.
Mr. PARKER-It is also unfortunate for the shareholders. Seeing that nothing is wriften off for the depreciation of stook, the directors might make a little -serifice.
Mr. PEROY SKITн-It might be put as a suggestion to the directors for the forth- coming year.
The CHAIRMAN-Will you put it that way, Mr. Jillings?
JJILLINGS-Certainly. I will suggest to
the directors that their feee be $1,00) instead of $2,000.
¿
The CHAIRMAN-It will have to be $500 instead of $1,000, according to the rules.
Mr. JILLINGS. Then I put that forward as a suggestion.
The CHAIRMAN (to Mr. Parker) -Are you willing to withdraw P
Mr. PARKER —Yes. As. no further questions were asked, the CHIRMAN proposed the adoption of the report an accounts as presented.
Mr. JELLINGS Seconded, and the proposition was agreed to.
Messrs G. C. Moxon and E. H. Hinds were re-elected to the directorate on the motion of Mr. PARKER, reconded by Mr. ARNOLD.”
It Was proposed by Mr. ARNOLD, seconded by Mr. JILLINGS, and agreed, that Mr. H. Percy Smith should be re-elected auditor.
The CHAIRMAN-That terminates the busi- ness of the meeting, gentlemen. Thank you for your attendance.
members of the staff presented Mr. E. Ambrose, At the Bangkok Custom House recently the
the re iring Adviser and · Assistant Director- and an illuminsted address. The presentation General, with a handsome silver box, silver tray,
was made by Nai Boonek (chairman of the com- mittee of subscribers), who appropriately, ex- pressed the regard in which Mr. Ambrose was thanking the staff for their kind expressions bald by the staff. Mr. Ambrose replied briedy, and for the loyal manner in which they had always supported him.
--
At a largely attended meeting of merchants and of members of the educational instituitīvis of Paking it was proposed to celebrate the seventy-fourth birthday anniversary of the Empress Dowager with staletle sports, - sil suitable festivity. At the end of the sporti all present are then to proceed in a body stolike American Legation to ask - the Minister" convey the thunks of China (to the Americku people for the remission of the unused porti of the American Indemnity fortke Bozar ay
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