In order that the business of the Company may be clearly explained, the report states that the steamers belonging to this Company run regularly between the Treaty ports; and sometimes to Japan, Manila, Siam, Singapore, etc., although there is no regular service to these places, and the Company cannot compete with, or carry (on at, opposition to, the Japanese, Manila and other steamers which are protected by Government regulations, Singapore and Penang are on the high road for ocean steamers, and the Company does not enter into regular competition with them; but steamers have been sent to Yueh-Nan and ports. Thesteamer Hochung was despatched to Sandalwood Island (Honolulu), and last autumn they put another stem Meefoo, on that line, and from there to Californie, This trade has not been very profitable, but the steamers have paid their expenses. Thestoamers Uung-ting and Kang-chi have siao been sent to Bai-kou in Kiungchow and Hai-phong in Yueh-nan, and business on this line is expected to improve.
The business of collecting freights, &e., at the Fukien and Canton ports has been a little better than last year. " The rate of freight for river porta comes to 20% lose than last your, owing to the great competition of other lines, Fortunately, however, shippers have patronised the Company to auchvam extent, that the sum total of freight for river ports is not much less than of last year, The steamers running to the northern ports have carried troops from An-huei and Hu-pei to Yang-ho K'ow, in Shan-hai Kuan, the transportation finishing at the Doginning of 'A report of the expenses has been wade up and sent the Government, which the Government will refund, During this year, the Company carried the tribute rice for Kiangen and Chekiang. The Government of Chekiang sett, over 30,000 larve-piculs (shih, or 150 addition the Govern-
Company usual to buy 30,000 large-piculs of rice to send up to Tientsin on their account. Altogether the Company's steamers carried 557,000 shih botweou the end of the Ist moon of this year to the first ten days of the Gth moon. Besides this, an order was received from Government to carry the troops back again from Shan-hai Kuan to Hupei, This -took from the middle ten days of the Gth moon to the third ten days of the 7th moon, before it was completed. The passage riancy paid by Li Hung-chang on account of the
Text read from the printed page and cleaned; old type leaves the occasional error.