held in Hongkong on the 218¢ July. Chere ho ordinary half-yearly meeting was (Daily Press.) were present Messrs, R. Deacon (chair man), 4. MacG. Heaton, T. C. Hayllar, Q.C., Andre, Belilios, Dr. Adams, Middle-fon, Anton, H. Smith, Head, Hoppius, andstein, Wheeler, Blakeman, J. Smith, Robinson, Heart; Captain Sands, Scott, Newton, Legge, Dolan, Jameson, Keswick, Govtes Dr. O'Brien, 'J. Greig,' Baron do perial, Blogg, O. Jackson, Hall,- Arnold, ofers, Corral, Davis, and Da Costa. permission, they would consider the report and accounts as read. He did not think there was much in them calling for any remark of his. They explained themselves pretty well. He proposed the adoption of the report and accounts.
Dr. Apaws had much pleasure in seconding their adoption. He would only ask one question, and it was with reference to the office expenses and agencies at Canton and Macao for May and June. Did the $1,895.80 mentioned in the report include the whole expenses of these offices under the secretaryship The Omatnaran replied that it included everything from the Ist of May to the 30th June.
The report and accounts were then put to the meeting and carried unanimously.
Mr. MacG. Heatow proposed the election of Mr. E. R, Belilios and Mr. W. Keswick as directors.
Mr, AnpRe seconded.
The motion was put and carried unanimously, Anpre proposed that Mr, A. N.
an and Mr, H. Smith be re-elected as auditors.
Mr. Bexruros seconded.
the motion was carried animously.
The Cuamatan intimated that the Di end Warrants would be ready for issue at the office of the Company on Friday. (Applause) He then announced that concluded the business of the ordinary half-yearly meeting, and the extraordinary meeting would be held at hall-past three o'clock.
In the interval, The Cuarnway said it might be as well in the meantime to inform the shareholders that there had been an application for the general agency of the Company, He would therefore, read the correspondence that had been reesived on the subject, and the reply that had been made to it, The first letter was xs follows Hongkong, 15th June, 1875. To the Chairman and Board of Directors of the Hongkong, Canton and Macao Steam-Leat Ca., Limited.
Gentlemen,—In anticipation of the usual half-yearly meeting of: Shareholders, which will take place in July, and the propositions and probable alteration with regard to the working of the Company to be then arranged, we beg to tender our services as General Agents.
Failing our appointment, we shall be compelled to enter into active competition.
We remain, Gentlemen, Your most obed?. Servants, Burrerrtecp & Swire.
The next letter from the same firm was as follows Hongkong, 21st June, 1875. To the El an and Board of Directors of the Hongkong, Canton and-Macao Stdqmboat Company, Limited.
Gentlemen,—We beg reference to our communication of the 15th lant, and as six days have now elapsed without any acknow-Iedgment from you, we think that in common courtesy some attention should have been given to our letter ere this. Awaiting your reply.
We remain, Gentlemen, Your most obedient Servants, Burrenrrey & Swine.
The reply of the Directors of the Company was as follows 21st June, 1875. Messrs. Burrenrrexp & Swine.
Gentlemen,—Your communications of the 15th instant' and this date have been laid before the Directors, at a Meeting of the Board held to-day, being the first meeting that has taken place since the receipt of either communication; and, in reply, I beg to state that your letters will be laid before the shareholders at the meeting which is to take place in July next.
T am, Gentlemen, Your most obedient Servant, R. Deacoy, Chairman of the Board of Directors.
'A letter was also read from Messrs, Heard & Ao., dated July 14th, making application for the General Agency of the Company, and stating that several shareholders were desirous that they should have it. They stated that owing to difierent arrangements in their staff both here and at Canton, they could carry on the business for a Jess sum than was previously estimated by them; and now offered to pay all expenses and ontyoings formerly paid by the General Agents, including the cost of the Macao Agency, for the sum of $14,000 per annum, payable monthly, they finding, free of all expense to the Company, storage for all the usual stores and equipments, and for coal up to 1,000 tons, Should their offer be accepted, they would take over the lease of the present offices of the Company from the day of receiving the General Agency, and also the furniture and office appurtenances which have been purchased.
The Cuarwan said that, as stated in their last report, the Directors had consulted the wishes of the shareholders,
a Board of Directors, with a Secretary, which ins to carry on the Company with and the alterations in the Articles of Association which would be laid before the shareholders to-day would meet that view. With regard to Messrs, Heard Co.'s application to carry on the Company for $14,1100 a year, the general wish of the shareholders was, as he had already said, that the board themselves should carry it With respect to Messrs, Butterlield ire, he could not help expressing his opinion of the very discourteous way in which that firm had acted. It was almost a case of "Your money or your life." (Applause). The directors -had always sought to make things as pleasant as possible, and to work the Company as well as they could, for the shareholders and the public at large; and lie (the Chairman) sometime ago spoke to a partner of Messrs, Butterfield and Swice's and asked him if he would become a director, He said he could not himself, but sid he would like to have a talk with him (the Chairman) on the subject. The very next thing that he heard from him was these letters which had just been Inid before the meeting. He thought it discourteous in the extreme of Messrs. Butterfield and Swire to write such letters as those. 'They did not even say how they would take the Company, and what was contained in their letters was all the directors knew on the subject. If there was opposition to the Company, he could only say that it would be most' lamentable for thoss who at. tempted it. Of course in that case the Company would lose money, but the opposition were bound to lose much note, The notice calling the extraordinary meeting having been then read, The Cuaman submitted 4 sories of resolutions embodying the alterations in the Articles of Association. He proposed their adoption seriatim.
Mr. Utaton seconded them, and they were ull adopted.
The Cuammax, having requested the attendance of a sufficient number of shareholders fourteen days hence, to confirm the resolutions just passed, said he was much obliged for their presence that day, and trusted, with their assistance and the assistance of the public, that the directors would be able to further their interests, and carry on the Company—maskeo all opposition—as successfully as they had done heretofore. (Loud applause.)
The meeting then terminated.
Text read from the printed page and cleaned; old type leaves the occasional error.