Of late years there-has been a decline in the shipbuilding industry, Few steamers of. any size have been built here, and the Dock Company especially have done little in that me. A fow weeks ago, however, a gunboat built for use in the Philippines, to order of the Spanish Government, was munched at Kowloon, on the 22nd instant, She made of 11.75 knots: was' attained, the Sockact a successful trial trip, when an average 5
speed being 11.5 knots. The Villalobos is a small but smart composite gunboat.
'THF RIVER STEAMBOAT CE, The report. of the directors of the Hong-Kong, Canton, and Macao Steamboat Ca, Ld, for the: half-year ended. the -80th_of Tune has been issued. Tt shows that, after payment of all expenses, there remains the sum of $143,302.02 at credit of Profit and Loss Account. The directors. recommend that a dividend of per cent-on capital, or $96,000, for the half-year be paid to shareholders, and that the balance of $47,302.02 be carried forward to new. account. The earnings of the steamers,.except on the Maseao-Canton line, compare favourably with the corresponding six months: of last year, The meeting is.fxed: for the Slst instant.
Text read from the printed page and cleaned; old type leaves the occasional error.