The Sun.
London, England, 1845-11-05 00:00:00

HONG-KONG.

The British merchants at Hoag-Kong have been com-
plaining very bitterly of the sacrifice of their interests by
the Government, and have memorialized Lord Stanley in
the " confident hope" of getting redress for their grievances.
The parties to the memorial are somewhat sanguine to ex-
pect relief from the Colonial Secretary on a plain statement
of facts being laid before Lim ; and as the local authorities
have already discountenanced the application of the mar
chants, they are nut likely' to excite the sympathy of the
Home Government. The Colonial-office appears to have a
facility of making itself obnoxious to those whose interests
are intrusted to its care, and it almost habitually supports
the measures and the inen that are most distasteful to the
colonists. The grievances under which the merchants of
Hong-Kong are labouring arise chiefly from a breach
of faith, by which they have been required to pay a
comparatively high price for land, after an expectation of
obtaining it at a very moderate rate had been distinctly held
out tie them. When the island of Hong-Kong was first
taken possession of by Her Majesty's Plenipotentiary in
China everything was done to induce the British merchants
to remove from Macao to the new settlement. Having got
them there, it is alleged that nothing has been done to pro-
mote their interests ; and the result is, that the merchants
are complaining of being subjected to very heavy burdens in
a place they cannot conveniently quit, on account of the out-
lay they have incurred, and where it will not be profitable to
remain unless something is done to give life and vigour to the
already languishing trade of the new settlement. It is to very
little purpose that colonial possessions are acquired if the policy
of the Government cripples their facilities for trade, the peaceful
and mutually advantageous interests of which are the only wise
and legitimate objects of distant acquisitions. The general
sense of this country in the present day repudiates the idea
of conquest for its own sake, and the termination of the war
with the Chinese was not valued as a victory over that
people, but as the opening of a new and important channel
for English trade to flow into. This was the sole ground of
congratulation when it was agreed that there should be a
British settlement in China; but it is evident from the com-
plaints of the merchants of Hong-Kong that the hopes of all
parties have not been realised.
The grievances to which the memorialists have called
the attention of Lord Stanley are numerous, but the hard
terms forced by the local Government on the landowners
may be regarded as the chief cause of the discontentent pre-
vailing in the settlement. It is clear from the cor-
respondence, which we give at length elsewhere, that a pro-
mise was held out officially in 1641, that lands would be
granted in fee simple for one or two years' purchase, or that
they should be charged only with a nominal quit-rent ; but
in 1843 it was notified that" Her Majesty's Government did
not see fit to recognize sales or grants of lands that had been
made by any authority whatsoever up to the psi sod of the
exchange of the ratification of the treaty of Nankin." This
repudiation of the former acts of "any authority whatso-
ever " may have been convenient to the existing Executive,
but must have been very injurious to those who, relying on
the promise of the authority for the time being, had taken
their measures accordingly. It is allowable enough to change
a general system, but to fly off from a particular promise
which, when acted upon by one of the parties should
be as binding as a contract, is utterly inex-
cusable. The only answer that is given on the
part of the local Government to this accusation of a breach
of faith is, that the lots when sold fetched very high prices,
and that "it would be difficult to apply any better test of
value than sale in a fair and open market." If it were a
mere question of value, this answer would be fallacious ; for
we need only instance the very recent example of the railway
mania to prove that a thing is not always worth what people
are sometimes willing to give for it. The "stagging" system
appears to have been operating in the distribution of land at
Hong-Kong as well as in the allotment of shares at home,
and the allegation that the price offered for an article is a
test of its value receives from the merchants in China an
answer that would apply almost equally well to some recent
cases at the Stock-Exchange :
a We may, however, observe, in further explanation, that
in June 1841, when the first sale was held, 100 lots having
water frontage and 100 suburban lots were advertised for
sale; but, owing to the very unfortunate selection of the site
of the new town—a matter in which the merchants had no
voice—sufficient available ground could be found to admit of
only 50 lots being put up, and great competition was the
natural consequence. As no money was paid, or penalty
beyond forfeiture of the land incurred by non-completion of
the purchase, it is not a matter of surprise that when a num-
ber of lots, insufficient for one-third of the intending buyers,
were brought to sale, the biddings should have been unusually
high."
The Government advertise more lots than they have to sell,
just as the directors of a bubble company advertise for distri-
bution more shares than they mean to issue; and the result,
in both cases, is an eagerness to make extravagant offers, and
undertake heavy liabilities, for the sake of a preference. But
the premium is only temporary, for the value is forced and
fictitious—a case precisely in point to that of the land at
Hong-Kong, which was so eagerly sought after, and subse-
quently unpaid for by those who and agreed to purchase it.
The merchants of Hong-Kong remind the Government of
that fact in the following passage of their letter to the offici-
ating Colonial Secretary :
e But of the purchases made at that sale, you, Sir, must be
well aware that many of the lots remain unoccupied, and are
likely to continue so, as the Government have, we believe,
no security under which they can enforce the completion of
the agreements.
The settlement of Hong-Kong is evidently a failure as far
as trade is concerned, and the place seems only to be of im-
portance as a military and naval station. The Chinese po-
pulation is very scanty, and is likely to be rendered more so,
unless certain harassing taxes are removed, which it is the
object of the memorial of the merchants to protest against
The Americans and other foreigners remain at Macao and
Canton t ether than resort to the much-vaunted " free settle-
ment" of Hong-Kong, where the merchants are likely to
find themselves soon with only each other to traffic with.
The establishments in which they have embarked their ca-
pital are too valuable to abandon, and yet are not a source
of profit commensurate with the outlay incurred. Their
appeal to the Government at home is their only chance,
however desperate, of changing Hong-Kong from a mere
military station, as it now is, into a thriving settlement, as
it might and ought to be.— Times.

ALARMING CoLmsroN.—The brig Luvius, Captain
Cox, from Cardiff for Cork, in running up the harbour at six
o'clock last night, was run down by the steamship Sirius, and sunk
in five minutos afterwards. The whole of the crew were saved by
the stcamer..-I,fverpool Standard.

TUESDA.V WIGHT'S iikETTE.
BANKRUPTCIES SUPERSEDED.
George Brooke, dyer, Huddersfield.
Matthew Ibbotson and John Ibbotson, paper manufacturers,
Eccl€sfield, Yorkshir

BANKRUPTS.
James Reding and William Nicol Judd, printers, Horse-
shoe-court, Ludgate-hill, to surrender Nov. 14, at twelve, and
Dec. 19, at one, at the Court of Bankruptcy. Whitmore,
official assignee;Basinghall-street ; Goddard and Eyre, Wood-
street, Cheapside.

Edward Speller, tea dealer, Berners-street, Oxford-street,
Nov. 14, at eleven, and Dec. 16, at twelve, at the Court of
Bankruptcy. Turquand, official as,ig.nee, Old Jewry-cham-
bers; Wire and Child, St. Swithin's-lane.
William Ashcroft, jun., cooper, Bere-street, Ratcliffe, Nov.
11, at one, and Dec. 16, at twelve, at the Court of Bankruptcy,
Graham, official assignee, Coleman-street, London ; Hartley,
New Bridge-street, Blackfriars.
John Little-wood, hosier, New Bond-street, Nov. 4, at
eleven, and Dec. 13, at one, at the Court of Bankruptcy.
Follett, official assignee, Sambrook-court, Bakinghall-street ;
Goddard and Eyre, Wood-street, Cheapside.
George Staight, dealer in ivory Skinner-street, Snow-
hill, Nov. 13, at one, and Dec. 13, at eleven, at the Court cf
Bankruptcy. Green, official assignee, Aliermaubury ; Barber,
Furnival's Inn.

John Gadd, baker, High-street, Camden-town, Nor. 10, at
two, and Dec, 13, at twelve, at the Court of Bankruptcy.
Green, official assignee, Aldermanbnry ; Hare, Coleman-
street.

John Spofford, linendraper, Chatham, Nov. 18, at twelve
and Dec. 12, at eleven, at the Court of Bankruptcy. Ed-
wards, official assignee, Old Jewry; Sharp, High-street,
Marvlebone.

Edward. Turner, chymist, Princes-street, Soho, Nov. 12, at
half-past one, and Dec. 12, at twelve, at the Court of Bank-
ruptcy. Bell, official assignee, Coleman-street-buildings ;
Buchanan, Basinghall-street.
John Whiteway, miller, Chudleigh, Devonshire, Nov. 14,
and Dec. 11, at one, at the Exeter District Court. flirtzell,
official assignee; Stogd‘n, Exeter; Keddell and Co., Lime-
street, Loudon.

Thomas Barnes Vaughan, linen-draper, Poulton cum
Spittul, Cheshire, Nov. 18, and Dec. 16, at twelve, at the
Liverpool District Court. Cazenove, official assignee, Liver-
pool ; Norris and Co., Bartlett's-buildings, London ; Norris,
Liverpool.

Getirge Greenstock, ironmonger, Western super Mare
Somersetshire, Nov. 17, and Dec. 17, at eleven, at the Bristo
District Court. Kynaston, official assignee, Bristol ; Jone
and Co., Crosby-square, London; Peters and Abbot, Bristol.
DIVIDENDS DECLARED.

F. Loraine, bookseller, Newcastle-upon:iy us—first div. of
ss. 6d. in the pound, on any Saturday, at the office of Mr.
Baker, Newcastle-upon-Tyne.
W. Hall, grocer, Durham—second div. of Is. in the pound
(in addition to Is. previously declared), on any Saturday, at
the office of Mr. Baker, Newcastle-upon-Tyne.
W. Nell, common brewer, Manchester—first div. of 4s. in
the pound, on any Tuesday, at the office of Mr. Fraser,
Manchester.

J. Knight, butcher, Wigan, Lancashire—first div. of 4s. 6d.
in the pound, on any Tuesday, at the office of Mr. Hobson,
Manchester.

C. Parker, mercer, Bristol—second div. of 34d. in the
pound, on any Monday, at the office of Mr. Acrarnan, Bristol.
W. B. Briddick, dealer in iron, Durham—first div. of 4e.
in the pound, on any Saturday, at the office of Mr. Wakley,
Newcastle-upon-Tyne.
DIVIDENDS.
At the Court of Bankruptcy, Basinghall-street.
T. Palmer, soap maker, New-road, Whitechapel, Nov. 25,
at twelve—W. Wood and Holmes, tea dealers, Maidstone,
Nov. 25, at half-past eleven—S. Jevons, shoemaker, Lincoln,
Nov. 25, at two—S. Fawcett, linendraper, Chisweli-street,
Nov. 25, at half-past one—J. E. Smirk, licensed victualler,
Broad-court, Bow-street, Nov. 28, at eleven—J. Richai dson
and J. Griston, bricklayers, _Norwich, Nov. 26, at one.
in the Country.
G. Vaughan, innkeeper, Llanedv, Camiarthenshire,
Nov. 27, •at eleven, at the Bristol District Court—J.
Hodgson, scrivener, Liverpool, Nov. 28, at twelve, at the
Liverpool District Court—T. Robson, soap manufacturer,
Liverpool, Nov. 25, at twelve, at the Liverpool District Court
—T. Denson, merchant, Liverpool, Nov. 25, at half past
eleven, at the Liverpool District Court—G. Gilchrist. and J.
M. Gilchrist, merchants, Liverpool, Nov. 28, at twelve, at
the Liverpool District Court—(. C. Crofts, corn merchant,
Liverpool, Nov. 28, at twelve, at the Liverpool District
Court—N. Litherland, merchant, Liverpool,,Nov. 28, at
eleven, at the Liverpool District Court—G. Lawrie, chemist,
Nov. 28, at twelve, at the Liverpool District Court.
CERTIFICATES to be granted, unless cause be shown to
the contrary, on the day herein mentioned.
W. Mosaman, fancy stationer, Clarke's-place, High-street,
Islington, Nov. 25—J. and J. R. Reay, wine merchants,
Mark- lane, Nov. 26—J. Mears, grocer, Leeds, Nov. 28—T.
Sanderson, coal merchant, Liverpool, Nov. 26—J. Driver,
victualler, Slawston, Leicestershire, Nov. 25—8. Ling, tim-
ber dealer, Fore-street, Limehouse, Nov. 25—W. Kirk,
pianoforte manufacturer, Leeds, Nov. 25—H. Cooke, painter,
Liverpool, Nov. 25—T. and J. Jones, tallow chandlers, Liver-
pool, Nov. 25—J. Glass, victualler, White Hart-street, Drury-
lane, Nov. 25—J. Lazarus, clothes dealer, Marylebone-lane,
Nov, 25.

PARTNERSHIPS DISSOLVED.
E. and B. French, cork manufacturers, Crutched-friare—
M. Brook and J. Waterhouse, coal miners, G;ldersome, York.
shire—J. S. and T. Barlow, hat manufacturers, Leeds—G.
Taylor and J. Parkins, envelope manufacturers, swallow-
place, Hanover-square— H. Jockaman and G. Knight,
builders, Birmingham—E. Fellows and J. Randell, silk
brokers, Old Broad-street, City--P. Jones and C. Mortimer,
dry salters, Bristol—J. Galsworthy, W. Galsworthy, and W.
Watts, solicitors (so far as regards W. Watts)—P. Joynson,
R. Hampson, E. Joynson, and T. Joynson, silk manufac-
turers, Manchester—R. Latham, sen., P. Simpson, and R.
Latham, jun., merchants, Bahia (so far as regards P. Situp-
son)—G. Wilson and J. Porter, machine makers, Salford—
T. and H. Hart, basket makers, Barking, Essex—L. Budge
and J. Humbles, surgeons, Great Barford, Bedfordshire—P.
Chrimes, E. Chrimes, and R. Chrimes, plumbers, Bother-
ham, Yorkshire—C. Wilson and W. Townrow, straw-hat
manufacturers, Luton, Bedfordshire—R. Green% ell and B.
Sacker, timbermerchants, Sunderland—L. Marks and J.
Israel, watch makers, Liverpool—H. and F. Lipscomb,
farmers, Wytham, Berkshire—J. Brockwell and T. J. Reed,
grocers, Great Russell-street, Covent-garden—G. Smith, G.
K. Smith, E. 11. Smith, W. W. Smith, wholesale furriers,
Gough-square (so far as regards G. Smith)—C. S. Floyd and
11. Booth, attorneys, Huddersfield.
SCOTCH SEQUESTRATION.
Robert Fowlds, draper, Kilmarnock, Nov. 10 and Dec. 1,
at one, at the George Hotel, Kilmarnock.

LAW INTELLIGENCE.
VICE-CHANCELLORS' COURT, Nov. 4.
(Before the VICE-CHANCELLOR of ENGLAND.)
RUEERY V. DARES.