SEPmiBER I, 1891.] TH> T^DPfOAL AQRICULTUfllST. 17$? 
THE BRITISH NORTH BORNEO 
COMPANY. 
The I7th half.yearly general meeting of the British 
North Borneo OompaDy wjs held jesterday at tlie 
Oannon»8treet Hotel. 
Sir EuTHERFOUD Alcook presided, and, in moving 
the adoption of the report, said that there had been 
a very considerable and satisfactory inorease for 1890 
in almost every ittm of revenue proper, more especi- 
ally under the heals of "farms" and "cnetoma" — 
two permaaent sources of great importauce. The 
increase for 1890, in round figures, amounted to 
$106,859— namely, from $251,602, in 1889 to ,§358,401, 
iu 1890, There had been an increase in the expen- 
diture of ^82,960. But the inorease on both sides of 
the accounts was partly caused by the inclusion, 
for the first time, of the revenue and expenditure of 
Labnan, and partly also by a modification in their 
sNstem of accounts as explained in the report. 
Willi this explanation, there was sufficient ground 
tor congratulation that in 1890, within ten years 
of the formation of the company, the receipts 
amouated to a sum of iil01,G65, leaving a surplus 
over tho total expenditure of £19,238, subject to 
an i.inoni.t to be provided for depreciation, differ- 
ences of exchange, &o., of £4,355 ; and if such 
a surplus was not very large it would readily be 
admitted that, with a similar surplus in 1889, it 
was a great improvement on the budgets of the 
precediug eight years, and was of good augury for 
the falnre. The other source of receipts, the land 
saiop, again in 1890 produced tho satisfatory sum 
of £39,242, or very nearly the same as in the three 
pi c ceding years. But owing to the present de- 
pression in the tiuanciul and commercial world, con- 
siderable returns under tLis head could Ecarcaly be 
counted upon. An increase was apparent under almost 
everj hcitl of the expeaditura acooun*^, but more no- 
tably iKidcr that of police, the upke ep of steamers, the 
necessity for a large surveyi'ig si.aff , and a nsvi item 
for poLisio: a, amounting to £1,225, chargeable to tho 
revenue of Ltbuau which the company had to pay, 
having taken over the goveriimout of the cjlany with 
its revenue an^i liabilities- It was, however, expected 
that the i^laa 1 would be administered without loss, so 
that the itein would bo covered by the receipts. Since 
the last aoco lilts ware presente.l, the deed of settle- 
ment, at the request of tho court and sharoliolders, 
having' been amiji,ded by the Privy Council, the court 
was now authoriz'^d to deal with the monies de- 
rived from the sa'e of land in connexion with funds 
received from otiie;- sources, such as the revenue proper, 
and the balance of cash, therefore, had been passed 
to the general acccunt, with the result shown in tho 
balanoe-shett. Negotiations had been proceeding for 
some time with the Indian authorities to obtain 
facilities for the emigration of natives of India to 
Borneo, and terms had been arranged definitely, 
it was believed, with the Indian Grovernment. 
ladependeut of any advantages that might be reaped 
from an accession of labour from India, there was 
every rea.son to hope tiiat the free labour from Ohiua 
now coming in and the improved .sanitary condition 
of the tobacco estates would very shorlly remove most 
of* the obstacles hitherto encountered in obtaining 
all the ibupply desired, and of a much better quality. 
But tobacco, as he had often impressed upon the 
ehareholdors, wos not the ono resource o£ Borneo, 
nor would the ultimate success of the island as a 
colony be dependent upon tho cultivation of tobacco 
for its prosperity. It had been abundantly proved 
that its soil, climate, and other conditions wore 
fuvourublo to the growth of many of the most favour- 
able pioduots of tropical countries which formed tbe 
staple of a vast commerce. These wore all sources 
of groat wealth, only wantina; European enterpriso 
to bo developed into a great trade in Borneo, Ilaviug 
referred to several syndicates already formed with 
the o>)ject ot encouraging this now trade, he said that, 
in addition to these eutecprises, important concessions 
had been recently m.ade which might be fruitful 
oi largo results. Tho most, important of thcso was 
one granted since the last meeting to a syndicate 
for the purpose of forming a railway company. There 
could be no doubt that the construction of a railway 
from the eastern to the western coast would confer a 
great benefit on the country and all concerned in ita 
development. The admioistrEtion of Labnan, under 
the company's management, was satisfactory, aud the 
coal mines were beiug vigorously worked by the 
Central Borneo Oompiiny, wbich had put on a large 
steamer to trade between the island and Singapore. 
Mr. R. B. Martin seconded the resolution. 
A long discussion followed, iu which Mr. Cihou, 
Mr. John Martin, Mr. Spurling, Mr. Hildyard, Mr. 
Blundell, and others took part, the principal point 
considered being ns to whether the amount received 
from land sales should be regarded as revenue and 
divided amongst the shar( holders, or used ai capital 
it! tbe developmeut of ihe company's enterprise. An 
amendment was moved by Mr. .John Martin, and 
Seconded by Mr. Spurling, to the effect that the meet* 
in^ should be adjourne I, in order that the directors 
might furnish a balancs-she- 1 accounting for thepro- 
ceeds of land sales in conformity with Article 32 of 
the deed of settlement. 
On a show of bauds being taken, the amendment 
was lost by 24 to 21, and the resolution was then 
agreed to. — London Times, July 10th. 
♦ ■ ■ 
NETHERLANDS INDIA. 
The Sourabaya Courant takes note that the de- 
mand for waste land in the S. E. portion of 
Netherlands Borneo has taken the form of mania. 
It finds that the eoDoessions of large tracts of 
land there, without adequate security that the 
applicant can readily turn them to account within 
a reasouablo time, runs counter to the interesls 
of cultivation. So lib.Tra! ore the oonditioos fcr 
securing concession?, that they tend to work in 
favour ot speculator b who look up the laud ia 
hope of high prices. So much has the course 
of events taken this direction tliat in those pjrta 
of the country suitable for tobaoeo-growing hardly 
any laud can now be had, and yet scarcely any 
ol it has been brought under oultivation. It ia 
evident that pioneer planters in that quarter, should 
their experimental cultivation succeed, may find 
that they can only incteice their holdings by 
buying the required land from neighbouring specu- 
lators at exorbitant prices, and few will oare to 
run the risk. Some of the concessions are in the 
hands of persona who mean business intobaoco plant- 
ing, but so tar not much has been done in this line 
beyond testing the ground. 
Cinchona planting in Java seems to have seen 
its best days, for the prices of bark so continue 
to fall that several planters intend to close their 
estates as further working would not pay expenses. 
— Straits Tiynes, July 15th, 
AN IMPORTANT SURVEY IN BORNEO. 
The Bodndaries of Dhtcii and Bbitibh Borneo. 
H. M. S. "Battler," Captain Heugh, cama into 
Singapore on Monday, alter making a very important 
survey in parallel 4.10 N., in whioh territory, the 
limits and borders oi the Dutch and British North 
Borneo Company's possessions havo hitherto not 
been defined on a sati'ifaotory ba?is. The " Rattler," 
just after returning f-om Wuhu, the scene of the 
recent riois, reoeived instruotions at Hongkong to 
proceed to Borneo in order to carry out the survey 
as ordered by the Lords of the Admiralty. She 
left Hongkong on the 16th May, and in company 
with the Dutch warship " Banda," Captain Von 
Owen, the r.uvvcy of parallel 4.10 N. commenced on 
the iSibilik lalanj, 'i'iio result of tho survey proved 
