536
THE HONGKONG WEEKLY PRESS AND
SHANGHAI PUBLIC COMPANIES Tls. 2000 have been now issued and were pro-
THE A. BUTLER CEMENT TILE WORKS, LTD.
The fifth annual general meeting of share- holders of the above company was held at Shanghai last week. There were present: Mr. J. Ambrose (presiding). Messrs. G. Davies, C. R. Burkill and F. E. Schnorr (directors),
D. W. Crawford and J. E. Denham.
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mptly taken up, enabling us to pay off the over- draft at the ank and to meet the immediate cost of the new switchboard.
(June 21, 1909
The Chinese Government propose to create commercial centres in several of the larger islands, to push the fishing, coral, pearl, salt and agricultural industries. It is the intention of the Government to send Colonel Ng, Magistrate Lau and other officials as pioneers to the Paracel Islands to promote their development. They will, of course, have to raise the necessary funds in Canton first. In the meantime, the surveyors are drawing up plans of the islands. Full particulars as to their resources will be given in an official report which will be ready in a month's time.
CUSTOMS GAZETTE. ·
The Chairman proceeded to point out that extraordinary expenditure had totalled about Taeis 20.00 and added if it had not been for this we should have been in a position to recom- mend to you a dividend this year of 8 instead of 6 per cent. You will see on the credit side of the Working Account that the net receipts from subscription was Tls. 137,701, under the old tariff. It may be well to mention in this connection that one clause in the now agreement with the Councils provides for future re-arrange. ment of the tariff should that be considered necessary. In our negotiations with the Coun- cils it was repeatedly and clearly set forth that The Customs Gazette for the first quarter of we desired to secure for our shareholders a this year, giving the quarterly returns of trade steady 8 per cent. dividend and that by so doing and the report on dues and duties for the period we could command funds by issue of debentures from January to March, 1909, has just been or of new shares when necessary for the mainten-issued. s compared with the corresponding ance of a high class service. Before the new tariff period of last year the report on dues was fixed, figures were submitted to the Council and duties shows & considerable increase from our hooks which were open to investigation | in total collection, although it was, of by that body. These figures were considered course, less than the last quarter of the and formed the basis of the new tariff which preceding year. Of the individual ports, 20 came into operation of March 1 last. Had it show increases and 15 decreases, among the been possible to profit by the new tariff a year the latter, however, being Shanghai. A great earlier, we would have had Taels, 25,000 more falling off in the collection of opium duty and for appropriatiou. Further, the rent from the likin is mainly responsible for Shanghai's de- new building, which you will see stands at Tis.
crease. Harbin district is for the first time 3.197 is for part of the year which these figures divided into two sub-districts, Manchouli and cover. They do not quite amount to the fourth Suifenho. The following is the report of dues part of what we expect to come in by arrange. and duties, January-March quarter, 1909, show. ment with our present tenants. You will there-ing the total collection for the quarter compared fore understand that with these assured sources with the same quarter of 1908 :- of increased (income our prospects of a steady 8 per cent. dividend are better than they have ever been since the Company was formed.
The Chairman said: We are glad to have been able to put before you such a comparative- ly favourable report for a year, which, taken all round, has not been a very prosperous one for local trade, and I think we may congratulate ourselves that the expectations we had last year did not come true. Our turnover was good and low exchange has been in our favour for the better part of the year, and consequently we are able to recommend to you the payment of our usual dividend of 6 per cent., after making good provision for writing off on plant. machinery and buildings as usual. But besides this we propose to carry forward to new account the substantial balance of some two thousand odd Taels This may appear rather large to you, but the demand for our roof-titles especially has increased in a pleasing way so that we have accepted the proposal of our managing director, to add another machine for the manufacture of roof-tiles to our plant, and eventually another if necessary, and to meet the expenses of this addition with past rather than future profits, we propose to carry forward the above amount. The machine has been ordered already and will in all probability be ready for work in another month or so, and as it is a machine of the latest design, turning out a tile even superior to those we are making at present, it should prove a good investment. As to the rest of the accounts, they speak for themselves, there are no bad debts! INSPECTION OF PARACEL ISLANDS.
to provide for and we do not owe anything to anybody. This is all I wish to say to you to- day, but before putting the usual resolutions to the meeting, I shall be glad to answer such questions concerning the company' affairs as anyone may wish to ask.
There being no questions, the following, resolutions were adopted :-
That the report of directors and accounts as submitted be passed, and that a dividend of six per cent.. equal to Tls. 3 per share, be paid- proposed by the Chairman and seconded by Mr.
Davies.
THE SHANGHAI MUTUAL TELEPHONE CO. LTD.
At the tenth ordinary general meeting of share. holders of the above company the Chairman said: -A year ago we had concluded a contract with the Council covering a franchise of thirty years. A similar agreement with the French Council has been since entered into, thereby securing harmonious working of the services between the two Settlements for the period above mentioned. Another important business concluded during the twelve months has been the selection and ordering of the new switch board and the machinery appertaining toit at a cost of £14,686. Last summer we advertised for tenders and on the 31st December, when they were opened, there were 27 offers, 24 of which were by local firms acting as agents for manufacturers in various parts of the world. From these we selected the lowest tender in accordance with our specification, it being £9,000 below the highest one and we are satisfied that you will have the best plant obtainable at a very reason- able cost. In the report I mention that the service has been on the whole satisfactory but in this I do not include the Pootung service which I am sorry to say, has been for the last six months more or less unsatisfactory owing to frequent interruption of the river cable injured by vessels anchoring over it. These vessels have been mostly under the British flag. The French Court here decided a case in our favour and the decision, upon appeal, was upheld by the Supreme Court at Saigon. Since then no French vessel navigating the upper reaches of the river las injured the cable. A similar vordiet in the British Court would render the service more efficient to our Pootung subscribers. Your Directors made arrangements far the issue of Tls, 350,000 Debentures at 6 per cent. Of these
A ROUGH VOYAGE.
Port
Antung Tatungkow Dairen Harbin District
Manchouli
Suifenho
Newchang... Chin wangtao Tientsin Chefoo
Kiaochow Chungking Ichang Shasi Changsha
Yochow Honkow
Admiral Li Tsun. Tuotai Li Chi Cheun, ten deputies and several merchants who have been on a visit of inspection of the Paracel Islands returned to Canton on the 10th inst. by the gunboats Fook Po and King Hong. The party (our Canton correspondent writes) left Canton for the Paracels Island on the 21st ultimo by three gunboats. They first called at Hoihow and remained for two days in that port where 50 labourers were engaged for prospecting | Kinkiung purposes. After leaving Hoihow they en- Wuhu countered very rough weather and had to take Nanking shelter at a place called Yu Lam Kong, where Chinkiang
As the third gun- Shanghai they remained for ten days.
Soochow boat. Kicong Kang, is a small vessel, the Admiral considered it unsafe for her to continue the Hangchow voyage, so she was sent back to Canton, and the Ningpo Fook Po and the King Hong proceeded on their way to the Paracel Islands.
While staying in Yu Lum Kong the Admiral received a dispatch from an official at Leung Shin Wan stating that a typhoon had swept past that port; numerous fishing junks had been sunk and about 500 lives lost. They arrived at
the Paracel Islands on the 5th instant. The
party first landed on a small island called Lo Pat. This Island is almost surrounded by reefs excepting on the East where the party were able to land. Before leaving the place the Admiral named the Island Fook Po. On the following day the party inspected the Kau Island which was afterwards named Mo Hok. Here the party hoisted the dragon flag, fired 21 guns, and named the ter- ritory East Island. After the ceremony they wont to the opposite island and named it West Island. On the 7th instant the party inspected the Mok Island, which is the largest island of the the group, and named it King Hong.
were several fishing junks anchored in the bay of the Island. Several surveyors were amongst the party, and during the three days, these men were detailed to the different islands to survey and make plans. The group comprises of more than ten islands, all being more or less densely wooded, and the vegetation on them is luxuriant. Coral is found around many of these islands. There are also pearl oysters in several bays and namereus kinds of fish abound in the waters of the Paracel Islands. The soil on them is said to be very rich and suitable for growing vegetables and fruit.
There
1908 Hk. Tls. 6,008.500
1909 Hk. Tla. 9,471.458
230.858
378,216.8.3
155,459,266
47,859.107
16,176.320
1
118,086.307
33,229.191
1,594,027
6,824.510
35,922.216 28,698.262
336.54.966
279,698.256
313,325.889 232,869.498
112,255.920
165,400.456
13,611.628 11,505.603
1,161.893 21,845,847
1,786.895
14,821.333
165,088.970 115,841.977
19,887.525 35,764.90 531,300.592 676,765.291 104,570.924 126,484.579 228,023.200 234,169.896
25,025.504 65,589.097
293,689.766 273,921.771 2,169,753.843 42,200,362.072
20,290.289 17,295.273
128,474.590
2,594.991
100,785.189 112,760.524
125,743.489
Wonchow Santuao Foochow Amoy Swatow
10,025.412
8,214.912
2,521.752
169,978.272 200,476.960
184,052.689
194,431.302
372,022.353 400,962.715
731.478.476
52.660.135
26,598.456
Canton
Kongmoon... Wachow Nanning Kiungchow Pakhoi
Samchui
800,566.691
55,611.427 50,901.523 122,145.064⚫ 109,926.078
17,699.750, 11,971.679
65,546.497 71,170.724 32,903.203 31.291.607
Total ...Hk. Th. 7,062,970.761 6,796,476.181
THE GROWING PORT OF DALNY.
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The Manshu Nichihichi says:-The Imperial Chinese Maritime Customs revenue for the port of Dairen (Dalny) never exceeded Tls. 100,000 a fear till last year. Since the beginning of this year, however, the receipts have averaged over Tls. 100,000 a month and have already totalled more than Tis. 500,000. About Tls. 150,000 more is expected from the goods now awaiting shipment on the Wharves. Allowing a span of 4 dull months from June to September, the return of the new bean season in October is expected to swell this year's revenue by a con- siderable addition, which all put together will push this young port forward at a bound to take a place among its seniors in China. Something wonderful may be rockoned on in the develop- ment of the port in the course of a few years.
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