The Regulations of this Company should algo be clearly specified in order to avoid any inconveniences that may arise from the personal wishes of individual sh: holders. The duty of collecting cargo from shippers, carrying tribute-rice, and shipping business generally, are included in all commercial speculations; wherefore in the'L1th year of Tung Chih, the Earl Li memorialised the Emperor to establish the present Company, which should be managed by merchants and supported or protected Ly ollicials; a most proper and worthy thing for him to have done. The word "support" us hero use implies a fear that the capital of the merchants might be insufficient to carry on the operating of the Company for any long period; for this reason the Government gives tribute-rice to the Company for transport, and lends it money to use, in order to' strengthen its resources, In the 12th year Tang Chih, Mr. Tong King-sing, and others were honoured with orders from Enrl Li to join the mana, ment of the Company. "Certain Regul tions were then made by Mr. Tong Ki ming by virtue of which the affairs of Company were to be carried on on mercantile principles. Last spring, there were several rumours respecting official debt atill due by the Company to the Gover: ment, which they were unable to pay. At present the Company is in a more flourishing condition, having been honoured by a memorial to the Throne by the Karl Li, suggesting that the liability question be permitted to be paid off by Anstalments. All matters of profit and loss affect shareholders only; the Government has nothing to do with them. The stib lution of protection or support on the part of the officials dues not imply that the Government will take part ayainst the mercantile public; and here we have clear proof of it. "here are some people who never enquire into the origin of the Company, and #0 are ignorant of ite n of trunsactiny business; only atten rumours outside, and) making remarks themselves, and not manage that they. employ nancier the funds, enrich themselves at the expense of the Company, und so on, 'They are utterly i of the fact, however, that the Directors are the Inrgest shareholders, and that the managers of branch establ'shmenta are also shareholders; who therefore, amorly auch officers, would h for the prosperity of the' Camps 8 money" uccoui are kept by clerks and cashier employed for that purpose; but how could their superiors disclaim all responsibility in the matter Furthermore, hitherto all items, whether great or small, debit or credit, must pass through the lands of the public if the managers were to act dishonestly in any way, why, the majority of the shareholders are friends or relations of the managers, and live 30 nent together that detection could be inevitable. Who would let himself be chonta! or hoodwinke:! Therefore there is no necessity for official spection; the mercantile public itself would never allow any dishonesty. We write all this for general information.
Freights Stores of Coal Various Attic 28 afoamers, valu Godown and Wharvs Small Steamers, Hulks and Iron Cargo-boat Hemp Bags, Furuaces, &e.
Text read from the printed page and cleaned; old type leaves the occasional error.