Note 8 — Maize—Cacao—Coprah, Etc.

This company was formed in Hong-Kong and incorporated May 16, 1889, with a capital of ₱300,000 divided into 6,000 ₱50 shares, to take over and work the prosperous business of Mr. H. G. Brown. Its success continued under the three yearsʼ able management of Mr. Brown. During that period it paid an average yearly dividend of 8–1/3%, and in 1890 its shares were freely dealt in on the Hong-Kong market at 50% premium. On the retirement of Mr. Brown in March, 1891, the company gradually dwindled down to a complete wreck in 1894. It is still (year 1905) in liquidation.