SATURDAY, MAY 7, 1927.
COMPANY MEETING.
CHINA UNDERWRITERS,
LIMITED.
LIFE INSURANCE BUSINESS.
"HOME POLITICS.
DEBTS NOTE.
AMENDING TRADE UNIONS BILL.
CALMER VIEW IN AMERICA.
SOME PRESS. OPINIONS,
New York, May 6.
THE CHINA MAIL.
London, May 6. ⠀⠀⠀ Chief among the Government amendments to the Trade Unions The third annual meeting of Bill is the virtual re-drafting of China Underwriters, Ltd., was clause one declaring a strike file-
A calmer view is taken by the held in St. George's Building this gal if it has any object besides the Press as regards the British debt
Note.. morning, Mr. R. E. Shewan pre- furtherance of a trade dispute
within an industry whereln siding.
the
A HANDICAP.
EFFECT OF SMUGGLING ON
RETAILERS.
WINE FOR 40 CENTS.
A Chinese boatman and bla wife were fined $100 or in default, two months' hard labour at. the Magis tracy yesterday in connection withi the anle of rice-spirits called | The conviction fa growing that thesheung-taing," C.P.O. Clarke atat- strikers are engaged, and is de- Note is intended to correct errone. Supporting Mr. Shewan were signed and calculated to coerce the ous impressions current in Europe it was smuggled stuff that was ing that he was not suggesting that Messrs. C. P Marcel, Mok Ching Government directly or by inflicting rather than to embarrass the Unit seized, but from the facts he claim- kong. C. A. da Roza and Tsung Foo hardship on the community, Ited States or re-open the questioned that if the defendants had the fmembers of the Consulting Com- mittee). Mr. II, R. Sturt. F.I.A. further forbids the application of of war debts, a fresh discussion of
chance to deal in the cheaper brand (manager and secretary), Mr. E. R. Any sums for the furtherance of which at present is regarded as
futile.
of smuggled wines, they would a strike. Childe Cassistunt secretary),
hardly have rejected it. Shareholders
such
An addendum to the same clause present were proclaims the illegality of lockouts Messrs-J. M. Álves, A. Keith, in the similar terms.-Reuter. M. A. Figueiredo, F.
Tavares, J. Toppin, A. I.. Shields, Wong Kwong-tin, A. A. Alves, C. Thwaites. Wong Kit-wan, L. B. Gomes, and W. S.-H. Murdock.
Converting Figures.
The secretary read the converting notice and the auditors' re- port. The report and accounts for 1920 were taken as read. In his review of the year's activities, the chairman said-
As the company
POISON IN SUPPER?
Nine Chinese were admitted to Government Civil Hospital early this morning, suffering from the effects of suspected poisoning,
They had a sumptuous supper together last night and were all is conducting taken ill about the same time business in many currencies both afterward. All are from No. 30, gold and silver we have on this bollywood Road.
ocension converted all silver cur-
rency figures to dollars and ail
gold currency figures to sterling at
the purities of exchange and then
converted sterling to dollars at the outgoings including claims) rate of $1 equals 18./11d., the excess being some $10,000, rate at Dec. 31, 1926.
the
The "New York Times" declares that "if the common man comes to see that the war debts are hamper ing our foreign trade and hurting our prestige he will be readier to reconsider and re-arrange them."
The "Herald Tribune" concludes a leader thus:"Revisions may be justified Inter, but it, must be left to our goodwill and good judgment when and how."-Reuter's Ameri san Service..
ལ་
"Irresponsible Talk."
Washington, May 6. The "Washington Post" to a leader on the British note, regrets that this question has come to the front at a time when other ques tions, notably the difference in policy in regard to China, engross the attention of the British and American Governments. It admita that the British Government never hinted at cancellation of debts and says that doubtless it appreciates the fact that irresponsible cancella
Retailers of Chinese wines re- cently complained to the Revenue Department, it was explained, that on account of the large amount of smuggled wine being put on the market they were being subjected to them it was claimed that they had unfair competition. For many of
not made sufficient profit even to cover the cost of their licences.
Evidence was to the effect that the wine had been bought by a Cni- nese Revenue Officer who boarded a large boat in the harbour, two bottles having been bought for two marked twenty cent pieces.
The defence was that the wine had been sold by a small boy on board against the orders of the de- fendants.
In the "Government. Gazette" are published lists of persons authorised to sign death certificates, dental surgeons and exempted per sons, and medical and surgical
The amount carried to Establish The object of this is to securement of Life Business Account some continuity in the accounts in $23,078 paint $94,092 in 1926 and tion talk placed it in an embarrass. future years as the effect of using the account now stands at $152,649 different rates throughout accord which figure it is unlikely to being position. "Mr. Mellon, in put-practitioners. ing to the actual rate ruling at Dec. 31 makes comparison difeult. Profit an Exchange.
The result of adopting the pré- sent basis of exchange instead of the basis adopted for Just year's accounts is to show a book profit on exchange of $19.210, which we have carried to reserve as ebange and Investment Pluetun- tion Account." In total the value! placed upon the company's invest ments is less than the value at market prices and current rates of exchange at Dec. 1, 1926.
As we foreshadowed in our re- port for 1925 our Life Départment has grown to be the largest of our departments but I propose to deal with the working of the various departments in the same order as on previous occasions.
Marine Market,
With regard to the Marine De- partment this refleets to some ex- tent the unsatisfactory condition of the, marine insurance market All
increased so that any further ensh drain on capital on this account is improbable.
Confitenes in Future.
In view of the annual premium theome on the books of over $300,000 the cost of establishment is not excersive and we can, think, took forward to the future of this department with confidence,
is
The Aevident Department small but is growing, the net pre- miums received
gainst 2.822 in 1925 or more than being $5,947
double while the expenses at $5,089 are slightly less than last year.
The amouni carried to the debit Profit and Loss was $1,838 as compared with $4,328 in 1925.
while the expenses are not being in- The growth of premium income reased gives promise that this De- partment can be developed profit- ibly.
Shares at a Premlum. There is one item in the Balance Sheet calling for comment.
You will remember that in June for cer-
over the world and the amount car 1925 in order to provide ried to the debit of Profit and Losstain expansion then contemplated Account after setting up $99,241 as further issue of shares was of reserve for unexpired risks. was fored to shareholders at a premium $89,793.
of 50 cents and that half this issue We have gone very carefully into was underwritten. the company's marine business and
Owing to the financial position inj the major portion of this debit the Colony brought about by the arises from one source from which boycott the issue was not subscrib- business was discontinued as far od although the date for subscrip- back as September last. The risks tion was postponed several times. running off in this section, however, have continueil to adversely affect the figures..
The underwriters found it dish- eult in the circumstances to take up their share of the issue and had; they done so it is probable the shares would have been thrown on
the market.
Prospects Not Great With regard to the rest of the marine business the underwriting appears to be generally satisfac-
In the circumstances at the re- tory, but as the account is a small one the incidence of one or two quest of the underwriters we decid
Agreement Cancelled,
W
WILBUR PLAYERS' KOWLOON SEASON.
Michel Dupree, a member of the Wilbur Players, whose season
at the Star Theatre, Kowloon, opens on May 18.
cumparatively large claims mate-ed after consulting our legal ad-ting the quietus upon the cancella- visers to cancel the underwriting tionists, could not have had in view rially affects the figures for the
agreement on payment by the the misrepresenting of the debt year under review.
As the prospect of any consider underwriters of the full profit of situation or the wounding of the able expansion is not great in view $62,500 we should have made if feelings of the British Government of local conditions we have decided they had taken up their share of British-American friendship cannot be destroyed. It is a pity that any
to restrict our maximum commit-
the issue.
J
MEXICO'S LAWS.
PETROLEUM COMPANIES
POSITION.
TAIWAN BAY.
BATHING BEACH TIME TABLE.
It is notified in the "Government Gazette" that a motor bus service from the Kowloon Star Ferry this beach will operate ne from
May 7 until further notice.
Time Table:-
to
Monday to Friday Inclusive:- Buses leave Kowloon Star Ferry of 4.30 and 6 p.m. every 15 minutes between the hours
Holidays:-Buses leave Kowloon Saturday, Sundaya and Publie
Star Ferry every 15 minues between the hours of 2 p.m. and 6 p.m.
Last bus will leave the bathing beach at 7.30 p.m. dally.
Fares 1st Class 20 cents singlé journey; 2nd Class 10 cents single journey.
Shadows Before.
COMING EVENTS ANNOUNCED IN THE "MAIL"
Entertainments.
www.m
May 7-Queen's Theatre; "Mare Nostrum."
"Com- May 7-Star Theatre; promise."
May 7-World Theatre; "The Cave Man."
May 10-11- Queen's Theatre; "The Temptreas."
May 7-Cafe Restaurant Parisien Dinner Tea Dance, 4.30 p.m., Danec. 8 p.m.
May 12-14-Buster "Seven Chances."
Kenton in
May 13-Smoking concert at Volunteer Headquarters 9.16 p..
May 18-Star Theatre; The Wil- bur Players in their latest come- dies and dramas.
Sports.
Mny 7-V.R.C. amateur boxing tournament. 9 p.m.
May 7-Fifth annual athletic. sports meeting at the Cheung Chau football ground, commencing 11.30
a m.
May 7-Third extra race meeting of the H.K. Jockey Club, Race Course, Happy Valley, 2.30 p.m.
May 8-Fifth annual athletic sports meeting of South China Athletic Assen., Hong Kong Foot- ball Club Ground, Happy Valley, noon,
May.
11-Exhibition Tennis, H.K.C.C., 4 p.m., for M.C.L.
May 24-Meeting of Farling Hunt Steeplechases.
Auctions.
May 10-At Messrs. Lammert Bros. sales room, a valuable cai- lection of Postage stamps, 5.15 p.m.
May 13-Another collection of postage stamp. will be auctioned by Messrs. Lammert Bros. at their Sales Room, 5.18 p..
Meetings.
May 9-Officers' Mess Meeting H.K.V.D.C. Headquarters, 6.30 p.m. May 10-Meeting of the Hong Kong Land Investment & Agency, Co. Ltd., Mesare. Jardine Mathe- son's bord room, noon.
May 10-Annual and monthly meetings of the HK. Chinese General Chamber of Commerce, 66. Connaught Rd., Central, 2,30 and 3 p.m. respectively.
May 14-Fifth yearly meeting of Lane, Crawford, Ltd., Exchange, Bldg., Des Voeux Rd., 11.30 a.m.
May 14-China Provident Loan and Mortgage Co., Ltd.'s thirtieth meeting, St. George's Bldg., noon.
May 16-Meeting of Members of the Hong Kong General Chamber of Commerce, City Hall, 4 pm.
May
17-Forty-sixth annual meeting of the Canton Insurance Co., Messre. Jardine Matheson's offices, noon.
Mexico City, May 6. ments in this branch considerably. The company therefore lost no-
Oil and legal experts declare It is hoped and anticipated that thing by the cancellation except the difference of opinion has arisen."
that the final Supreme Court deci sion with regard to the constitu- this restriction and the discontinu- use of the capital which in the cir-Router's American Service.
French Opinion.
tionality of the new petroleum law ance of the business before refer cumstances then existing was not red to will obviate the chance of a The profit so made together with required for the purpose intended.j
Paris, May 6. may be delayed by the decision repetition of this loss.
"The British Note caught the mentioned on May 5. The experts $3,000 premium on shares actually United States Government in the point out that the companies may
May 20-Fifty-fourth meeting of Fire Branch.
issued is carried temporarily act of making a dishonest mano-
now flle new applications in Dis
Union Insurance Society of Canton, With regard to the Fire Depart-"Premium on Shares Account," but euvre declares "Le Journal," con-trict Courts for injunctions against Union Bldg., 11 n.m. ment the net premiums received it forms a substantial offset to the gratulating Britain on her "Ge the District Courts have given a the China Fire-Insurance Co., Ltd., the petroleum law, and then after May 20-Fifty-eighth. meeting of during the year amounted tal amounts carried to the debit of ture" in regards to the British- $85,771 and commissions received Profit and Loss,
American debt. It declares that it ruling therean, may make fresh Union Bldg., 11.20 a.m. to $34,808 against premiums of
appeals, if necessary, to the May 26 Sixty-first meeting of $31,000 and commissions of $36,727) Of the amount $87,289 shown in has again been shown that it is not
Supreme Court-Reuter.
British Trader'a Insurance Co., the balance sheet ns "Outstanding sufficient to draw up fantastic
The message referred to states: Ltd. Union Building, 11.15 am. The sum of $6,842 is carried to Premiumu," $18,248 represented figures on paper to dispose of "The Supreme Court has revoked
May 21-General meeting of the debit of Profit and Lons as life premium receipts in the hands debt problem.
"L'Echo de Paris" believes that the lower Courts, restraining the Co.'s Office, roon.
the partial ampáros granted by shareholders of Douglas Co., Ltd., compared with a debit of $3,998 in of agencies not reported at the date! 1924 and a credit of $20,048 In 1926 of the account. Of the balance of Mr. Aiellon's reply gives small Federal authorities from enforcing so that from the company's com- $69,041, only $2,900 remaina out hope of any change of heart in the the new land and netroleum laws mencement after setting up re-standing.
United States on the question of in the case of nine foreign oil com- serves for unexpired risks of In the early part of the year our debt-revision in the near future-panies. The Cour; rules that the $32,301 the amount credited to Pro- manager, Mr. Farrant, found it Reuter.
in 1925.
Premiums Collected.
fit and Loss hus been $9,209, which necessary for domestic reasons to
is not at this stage unsatisfactory. reside in England and approached
It is of course desirable that the us to release him as soon as could
department should be expanded, be arranged without prejudice to AIRMAN OVERDUE. and we are making all possible the company's interests. We re- endeavours to effect this.
"Life" Figures Up. Now as regards our Life Depart ment this has progressed more or less as anticipated and a satisfac-į tory increase is shown in volume.
gretfully acceded to his requestį and Mr. Sturt, the company's Lifej the position of Manager and Secre- Manager, was offered and accepted
tary.
LEFT SENEGAL FOR PERNAMBUCO.
Paris, May 6.
In spite of the Government's
I now beg to propose that the interdiction, M. Stroman left Senc-
The premium income amounted to report and accounts for 1926 asgal yesterday bound for St. Paul,
be
and when that, has been seconded
being more than double while over-I shall be pleased to answer any head expenses have increased from,
buco,
It is unknown whether he re-con-
$161,211 to $186,576, about 15,9stions that shareholders mayverted the machine into a seaplane | and the tommission at $107,565 has wish to ask. Increased roughly in proportion to
Other Business.
the increase in new business. If Mr. W. H. N. Murdoch second- the same rates of conversion had 'eed No question was put and the
to comply with the French official conditions.
A Pernambuco despatch reports that Stroman is three hours over-
been applied the overhead expenses motion was carried unanimously, due and fears are felt for his figure (excluding commission) The Consulting Committee safety.-Router would have been practically the' (Messra. Allan Cameron. Li Tee-
same while the increase in income fong, C. P. Marcel, Mok Ching- would have been 89%.
Prediction Fulfilled.
kong, C. A. da Roza and Tsang
Foo)) were re-elected proposed His Excellency, the Governor has In my remarks at our meeting by: Mr. C. Thwaites, seconded by appointed Mr. George Grimble to last year I predicted that in the Mr. Wong Kit-wan.
be a member of the Licensing Board fourth year of the company's work Messrs. Lowe, Bingham and during the absence from the Colony“ Ing. Le. 1927, the Income In the Matthews and Messrs. Percy of Mr. Walter Leslie Patteuden. department would exceed all out
That this pred letion is Smith, Seth and Fleming, were re- His Excellency the Governor, hus likely to be fulfilled is evidenced by
elected auditors for the current appointed Mr. Geoffrey Robley the fact that in the last quarter of year at a fee of $750 each-pro- Sayer and Mr. Holand Arthur the year under roylew, the income posed by Mr. A. A. Alves, second- Charles North to be members of the has for, the first time exceeded all ed by Mr. Allan Keith.
Board of Examiners,
Miscellaneous, May 8-10-Exhibition öf. Chinese Art, Lec Garden, East Point. District Courts were only com May 16-Moonlight plenic of St. petant to grant of reject amparos Peter's Young Mon's Club. ns a whole, not partially as the May 17-Last debate of St. District Court has done in this Peter'a Young Men's Club, at Club case,]
House, 8.30 p.m.
Tel. C. 1676. Pedder Buil Pedder Str
INFORMAL & SOCIABLE EVENINGS at the
CAFE RESTAURANT PARISIEN
*aro
“JUST IT”
You may not have had time to visit the Cafe During Mid-week 80 endeavour to make it this
WEEK-END
PARTAKE OF A DAINTY MEAL with the beat of wine and DANCE
to your heart's content.
During the course of SATURDAY: evening if the number of Dancing: Couples warrant it, a few Prizes for Ladies will be given away.
BEARTY WELCOME, TO ALL.
MAGIC NOTES
WE
THE MORE
ARE TOGETHER.
(THE FROTH BLOWERS' ANTHEM)
COLUMBIA RECORD NO. 4130.
MAGIC
NOTES
AT
ANDERSON'S
NATURAL DRY SHERRY.
MAGIC HOTE
MISA'S
CALDBECK, MACGREGOR & CO., LTD.- (Incorporated under the Companies' Ordinances of Hong Kong.)
ABAQUERIA FILIPINA
LEADING TOBACCONISTS
IN THE FAR EAST
We have the widest range of Smokers' requisites in town and at Competitive Prices:
Ash-trays,
Pipes in Great Variety:
Tobacco Pouches,
Pipe Cleaners, Cigar and
Cigarette Holders,
Tobacco Jars,
etc., etc.,
Cigar and
Cigarette, Caspa and Cabinets, Cigar-cutters,
Lighters,
Cigarette-papers,
Match-holders,
etc.
A Trial Order is Solicited.
TABAQUERIA FILIPINA
26, QUEEN'S ROAD, CENTRAL, HONG KONG
THE QUEEN'S MOTOR BOAT CO., LTD.
Queen's Statue Pier...
MOTOR BOATS FOR HIRE :: ...
DAY and NIGHT MODERATE CHARGES
Office:--64, Connaught Road C, 1st floor.
Tel. C. 489.
NOW IS THE TIME FOR A SUMMER SULT.
NEW SUMMER SUITINGS.
JUST ARRIVED.
TAK WAH,
**Tailor."
Above "China Mail," 11, Wyndham Street.
A Life
Preserver
The Birkenhead Milk Stout
Invigorating and Stimulating
An ideal Beverage for Rheumatic Invalids.
E ch pint contains the energising Carbo-Hydrates
of 10 ozs Pure Dairy Milk
Milk Stout
SOLE AGENTS::
GANDE, PRICE & CO., LTD.
6T. GEORGE'S BUILDING, ICE HOUSE STREET
- Tel. Central No6. 135.