NY-KUNE
THROUGH BOOKING TO EUROPE AT REDUCED RATES, £120, £112, £110 £102, £83, via San Francisco. £95, 590 108. via Japan and Seattle.
SAN FRANCISCO via Shanghai, Japan Ports & Honolulu.
TENYO MARU
-SHINYO MARU
SHIDZUOKA MARU
Wednesday, 12th June. Wednesday, 30th July.
SEATTLE, VICTORIA via Shanghai & Japan Ports.
YOKOHAMA MABU
Monday, 17th June. Monday, 1st July. LONDON, MARSEILLES, ANTWERP, ROTTERDAM via
Singapore, Penang, Colombo, Suez.
ATSUTA MARU
Saturday, 15th June. SYDNEY & MELBOURNE via Manila & Porta
'TANGO MARU
Wednesday,
AKI MARU
Wednesday,
26th June.
24th July.
Tuesday. 11th June, Thursday, 7th June.
BOMBAY via Singapore, Penang, & Colombo,
SADO MARU
TOTTORI MARU
THE CHINA MAIL,
SHIPPING
MARINE INSURANCE
INCREASE IN NET PREMIUMS OF WELL-KNOWN COMPANY SATISFACTORY RESULTS
Mr. A.
The Chairman, Eccles, in moving the adoption of the report, accounts, and balance sheet of the Company for the year ending December 31, 1928, sald
SECTION.
HOME SHIPPING UNABLE TO BEAR ANY FURTHER BURDENS?
Was
country, and during last summer we carried out two eruins from Glasgow with the steamer "Assyria." The re- eults were such is satisfy us that there was a considerable demand for such facilities in our own home port, And we have decided to employ the saine vessel on the cruises from Glasgow during the ensuing year.
Another feature of interest to which I may direct your attention is that we have decided to
make a special effort to cater for the cabin and third class tourist travel on our Atlantic route by running the "Cali-
fornia" and "Camaronia" in the future AS "Cabin, tourist and third
from the directors'
class" steamers. Your directors are SIR T. ROYDEN'S WARNING
confident that the great and increas ing demand
and tourist for abin The fifty-seventh annual ordinary The thirty-first ordinary general third accommodation which is being of the Anchor Tine evinced by the travelling public will meeting of the shareholders was held meeting in the Boardroom of The London and (Henderson Brothers), Limited,.
ensure satisfactory results from the Lancashire Insurance Company, held in the offices of the company, adoption of this policy. I may say
14, St. Vincent-place,
Gasgow, Sir that already our bookings are so en- Limited.
of the to satisfy us Percy Thos. Royden, Bart, C.H. (chairman couraging as
of directors) presiding, and the other wisdain of the step which has been
taken. directors present were-Mr. A. C. F. and (deputy-chairman
You will see Henderson managing director), Sir J. Frederick report that Mr. John Binnie, who N. Graham, Bart., Mr. Robert Clark, has been in our employment for 41 Sir David McCowan, D., with Mr.
years, and who has acted as secre- A. J. P. Henderson (joint manager) tary of the company since 1921, has were Mr. of health, to resign his position with and Mr. John Binnie (secretary). found it necessary, owing to reasons The shareholders present
Cunningham, Mr. James
James the company. We have accepted Mr. Leslie, Mr. A. Glynn, and Mr. G. Binnie's resignation with deep regret, Wallace.
and on your behalf, as on my own, I would convey to him our appreetu- tion of his long period of loyal ser vice, and our wish that he may enjoy many happy years of leisure. Hear, hear.)
SOUTH AMERICA (West Coast) via Japan, Honolulu, Los Angeles, in your hands for some days, i pre-
Mexico & Panama.
ANYO MARU
Tuesday, 9th July. SOUTH AMERICA (East Coast) via Singapore, Cape Town & Ports,
Friday, 7th Juce. WAKASA MARU
Wednesday, 19th June. LIVERPOOL via Port Said, Geneva, Marseilles.
Saturday, 1511 June. DAKAR MARU
NEW YORK vin PANAMA,
↑ TAKETOYO MARU
CALCUTTA via Singapore, Penang & Rangoon.
+ MURORAN MARU
+ MORIOKA MARU
SHANGHAI, KOBE & YOKOHAMA.
Saturday, 8th June. Saturday, 15th June.
6th June Monday, 10th June. Friday, 14th June.
↑ RANGOON MARU (Moji direct Wednesday, SUWA MARI
BINGO MARU (Kobe direct)
+Cargo only.
Reduced ist Class Excursion Rates quoted between Manila and Australia
For further information apply to NIPPON YUSEN KAISHA. Tel. Central. No. 292 and 3897.
(Private exchange to all departments.)
O. S. K.
SAILINGS FROM HONG KONG SUBJECT TO ALTERATION,
LONDON,
HAMBURG,
BOMBAY Via Singapore & Colombo,
Thursday, 27th June.
SHINNOH MARU (Calls at Karachi) Monday, SUMATRA MARU
3rd June. Wednesday, 19th June.
DURBAN, LOURENCO MARQUES, BEIRA, DAR-ES-SALAAM, ZANZIBAR
& MOMBASA-Via Singapore & Colombo. CALCUTTA-Vis Singapore, Penang & Rangoon,
CELEBES MARU
*
• VICTORIA, SEATTLE, TACOMA & VANCOUVER, Via Japan Ports from
Shanghai.
Tresday, 18th June.
Monday, 10th June,
Tuesday, 18th June.
The report, accounts, and balance sheet of the Company for the year ended December 31 last, having been sume that we may adopt the usual course and take them as having been read.
fool sure you will be gratified that we again show a satisfactory re- sult of our operations during the year 1928.
The net premiums written amount- ed to $625,874, representing an in- The £78,970 over 1927. crease of claima paid, with full provision for all outstandings, amounted to £447,348, and the expenses to £87,119. After making our usunt reserve of 40 per cent. for unexpired ability. year's working is the profit on the £79,320.
The secretary, read the notice con- vening the meeting and the auditors' certificate.
The report and accounts were taken as read.
The
it Chairman.Gentlemen, affords me pleasure to move the adop tion of the directors' report and of the accounts of the company for the year ended December 9, 1928.
Before making a formal motion to this effect I should like to take the opportunity of commenting on the trend of да you
Most marine, corapanies, know, are now only closing the 1927 account, and I have the impression that the results for that year will prove unsatisfactory to many of the companies, as those accounts publish ed so date give in the aggregate a 10.3 per cent. loss on a premium in- come of over one and a half millions aterling.
them.
ཐ
The Balance-Sheet To turn now to the balance-sheet, you will see that on the debit side the subscribed capital and reserve fund are the same as last year.
to
our
PACIFIC
MONDAY, JUNE 3, 1929.
to EUROPE
U
via CANADA
UNDER ONE MANAGEMENT
SE the Canadian Pacific Route to Europe and dispose of all the troublesome details that usually- arise out of a 10,000 mile overseas journey.
When you travel Canadian Pacific there is only one transaction the initial one between our agent and you. Your trip across the Pacific, across Canada, and across the Atlantic is made on Canadian Pacific ships and trains; your stopovers at Canadian Pacific hotels.
One ticket One service
J
The utmost in speed and comfort.
CANADIAN PACIFIC
WORLD'S
Next sailing to the Pacific Coast EMPRESS OF FRANCE
At Noon-June 5th.
GREATEST TRAVEL SYSTEM
BRITISH WUCHOW LINE
The amount standing to our debit ou account of the Trade Facilities Loan has been reduced by £160,000, of business during the year. The depression in freight and the item of balances on current and open accounts is less by rough- markets, if somewhat relieved at ly £280,000, which is chiefly attribut- short intervals, has nevertheless per- able to a reduction in our shipbuild- sisted in the company's main trades
billa amounting to $190,000. The since I addressed you twelve months total reduction respect of ago. A company like our own, Fun Trade Facilities Loan and of our ning services of modern and expen- shipbuilding bills is thus £350,000, sive passenger
and cargo steamers, which you will dubtless regard as cannot attain even moderately suc- constituting &
a very satisfactory re- The increase in our own net pre-cessful results unless the cargo car-duction in our outstanding liabilities.
ried contribute their adequate quota miums, which have mentioned, is
On the credit side, the book value partly accounted for by a
to the total revenue of each year. more liberal participation
of the company's fleet, &c., stands in certain sec-
A great deal of attention has been at $4,349,154, which figure is reach- directed during recent years to the tions of hull business, and by some
ed after writing off in respect of de- depressed conditions of some of our preciation the sum of £266,626. expansion in our foreign agency cargo
main industries, and attempts have
The cash business.
in hand shows a con- As I pointed
the out last year,
been and are being made by means siderable reduction on the figure of rates for hull business bave been im- of safeguarding, de-rating and other the e preceding year, as a result main- proved by concerted action amongst devicus to put increased vitality intely of the large capital repayments to
which ROTTERDAM & ANTWERP_Vis Singapore underwriters, and our time account,
I have already referred. The shipping trade has probably Colombo, Suez and Port Said.
which previously was negligible, has
The small increase which is shown Sunday, 9th June.
The ro been cautiously increased.
suffered from the depressed stake of ANDES MARU .....
the credit of profit and loss ac- the world's markets during the last count is at least in the right diree- RIO DE JANEIRO, SANTOS & BUENOS AIRES-Via Saigon, Singapore.
sults, so far, have been satisfactory,
regarded as not! and the expansion has been justified. six or seven years as keenly, if not tion, and may be Colombo, Durban & Cape TowR.
That, however, is not to say that
even more keenly, than any other of altogether unsatisfactory, having the MANILA MARU
A new economical way to opend a OOF leading national rates for hul business generally are
Industries. regard to the period of acute depres-short summer holiday. Take a trip to Largé liner companies like our owe sion under which the maritime trade Wuch w End on a profitable basis; there is still
back. Only requires have suffered in need for close co-operation amongat
a very special de of the country has suffered.
four laya. See all the sights of the underwriters to not
gree from the period of bad enly maintain,
tradę, I would like to
take this oppor-West River. It costs you only $28.40 but to extend the agreement already and we can only hope that a steady tunity of conveying to our manage and can be done in five days. Your
and permanent increase .in in forec.
thement and staffs whore and afloat our budget:- volume of traffic accompanied by considerably higher level of freight eficient service. (Hear, hear.) It is high appreciation of their loyal and rates will yet provide us with some largely due to their efforts that our
large company is
able in face of intensified amount of capital invested in our competition and most depressing trade conditions, to show as satis- No Farther: Burdens
results
Why not make a trial? The cuisine are contained in factory It has never been
is excellent and the accommodation the custom of the balance-sheet with which I have shipowners to
comfortable; once you try you will re- ask for assistance just been dealing. from the Government or public au- Before formally moving the adop-commend it to others. thorities in pursuing their business. tion of the report and accounts, I and they are not doing 30 now. I will be very pleased to answer to should like,
nevertheless, to
em the best of my ability any questions not able to bear any further burdens, phasise that the shipping trade is which any shareholder may desire to and I would deprecate strongly to
put. ther them. Any proposals of this kind beg are not conceived. I think, in the best interests of the country's trade. the company's passen- interest on investments amounting to
ger business is concerned, I think we £45,949. After deducting income tax
can be fairly well satisfied with the on profits, there is an aggregate
results both in the American and amount of £308,069 to be dealt with.
Indian trades. The intensive com- It is proposed to pay the same divi-
p which we ara beine aub- dend a
as last
year, viz. 649. per
will absorb fected all sides calls for the ut share, less tax, which £04,000, and to carry forward the balance of £244,669,
It happens that
Barnes is Mr. absent to
in America on important busi- and his леда,
absence, therefore, gives me a particular opportunity to say how much we are indebted to him for the constant care and acu- men which he has devoted to the ins tereats of the company, the effect of which is so well reflected in the re- sults which I have had the pleasure to submit.
ALABAMA MARU
ARABIA MARU
MELBOURNE Via Manila, Brisbane & Sydney.
MADRAS MARU
HAIPHONG...Yla Hoihow & Takhoi.
MENADO MARU
Thursday, 6th June.
....... Thursday, 6th June 10 am.
NEW YORK-Via Japan ports, San Francisco & Panama.
APAN PORTS.
ATLAS MARU
SOURABAYA MARU
EELUNG-Via 8WATOW & AMOY.
TAKAO-Via SWATOW & AMOY.
DELI MARU...
TAKAO & KEELUNG
SOURABAYA MARU
Saturday, 8th June, Sunday, 0th June.
Thursday, 20th June Noon. Sunday, 9th June.
For further particolara please apply to-OSAKA SHOSEN KAISHA.
Tel Central No. 4088, 4089, 4090.
M. TAKEUCHI, Manager.
American Express Travellers Cheques
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THE
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INC.
is
Cargo Business Baimproved As regards cargo business, I am sorry there is stil no sign of any improvement-in fact, I think it true that, in many cases, rates aire Lower than they have
been. ever The market is still top big for the business available, and, While that condition continues and underwriters can be found to write business at any price, is difficult to foresee how any improvement can be effect
ed.
Turning again to our own figures, the amount standing at the credit of profit and loss account twelve months ago was £197,683. To this has to be added the surplus on the year's operations, amounting to 279,320, and
reasonable
stermers
So far as
to
return
מט
the
most endeavour in maintaining-and most even improving where that is pos- sible--the standard of comfort and efficiency with which our company serves the travelling public.
Very considerable sums have been spent during the year under review in making alterations and additions to the passenger accommodation of some of our steamers, and important adjustments have also been made in the engine-room department with view to securing increased speed and/or greater economy.
In this connection
I might refer to the in- stallation of the Bauer-Wach turbine which has been fitted into our Bri- tannia, and which bas already given very gratifying results.
In conclusion, it is usual for me to express our thanks to our varì- ១៩ representatives at home and abroad. This is no mere formality, because we do recognise that our various representatives have played a large part in the success of our operations throughout the most diffi- cult period which marine business has ever experienced. It would not be possible for me to enumerate all the managers and agents who have served us so well, but I should per-without ary serious mishap during haps specially mention our United (Continued at foot of next Column.)
-DRY DOCK—
THE TAIKOO DOCKYARD & ENGINEERING COMPANY
Length 787 Feet. Length on Blocks 750 Feet.
OF HONG KONG, LIMITED.
Wireless Call SALVAGE TUG "TAIKOO"
V.P.G.N. 600 Meters,
Tel Addres: “TAIKOODOCK,” HONG KONG.
Telephone No. 212 Central.
Call Flag: “C” over “ ANS, PENNANT.”
Depth on Centre of
Sill (H.W.O.S.T.) 14 ft. 6 ins,
THREE SLIPWAYS--- Capable of Handling Ships Up
to 3,000 Tons Displacement. Electric Crane at Sea Wall, Capable of Lifting 100 Tons at 70 Feet Radius.
BUTTERFIELD & SWIRE,
FAGENTS.
HONG KONG, CHINA & JAPAN,
We are we confident that the large items of expenditure to which I have just referred will prove have beer fully justified in the increased revenue which they will bring to the vessele concerned.
the company ran
The vessels of
the year under review, but since the vear close I greatly regret to say that the steamer "Transylvania" took the ground in a dense fog when a few miles off Cherbourg, and en the point of completing & most success- fal Mediterranean cruise. There was happily ne loss of life nor injury to anyone on board, and the steamer soon afloat again and safely reached Cherbourg practically scheduled time. It will be necessary to effect certain repairs to the ves- set on arrival at Glasgow, and this
was
on
will involve soma minor readjust
∙ments of our sailing schedule.
Demand for Crises
As you are aware, it has been our practice during recent years to emi- play some of our larger vesselsion cruises drting the Black passenger Season: In the past these cruises have been principally run from New York, but we are finding a growing demand for similar cruises from this
وفله
States manager, Mr. W. J. Roberts, who has not only produced a hand- some underwriting surplus, but has done valsable administrative work for the company in a very diff cult field
Lastly, I should pay a tribute to our other officials and the staff for their
whole-hoarted-and- untiring efforts, without which we should not have been able, year after year, to -submit to you: a series of satisfac-
tory rekults.
The retiring directors, Mesura. A Percy Excles and James P. Budolf, were re-elected.
On the motion of Mr WALE Duckworth, seconded by Mr. A. G Joynson, a hearty vote of thanks was accorded to the chairman.
BA
As there are no questions, I now
to move-
"That the report of the direc tors and statement of accounts for the year ended December 31, 1928, submitted to this
by received and adopted be here-
I will ask he deputy-chairman, Mr. A. C. F. Henderson, to second
it.
Passage for round trip....$20.00 Meals on board Lodging on board
16.40
· 2.00
$18.40
Total
Sir J. Frederick N. Graham, Bart. I have much pleasure in seconding that resolution.
The
Carried unanfreously.
JUNE SAILINGS DEPARTURE HOURS:
Hong Kong 5.30 p.m. Wuchow 2.00 p.m. 3.9. TAI HING"
[1,066 tons-Capt. Q. B. Wilks.]
JUNE
MON, SUN. FRI.
3rd WED.
19:h 9th MON. 24th 14th SUN.. 30th
S.S. TAI MING" [649 tons-Capt. G. J. Spink.] JUNE. WED.. 5th FRL TUES. Jith WED. 28th SUN. 16th
For information apply to
21xt
KWONG WING C
87, Connaught Road West, Phone: Central 893,
WHALERS FOR NORWAY
Among foreign countries for which Chairman.-Will those in Britain is bullding, Norway standa favour of the resolution kindly prominent, if not pre-eminent, ct pre- signify their approval in the asual sent. This is mainly on account of way? Those against?
the demand for whaling ships, of which Smith's Dock Company have very considerable The Chairman-Mr. Cunningham, already built may I ask you to move the re-elec- flect, and fortunately, according to
reports tion of the auditors?
DOW circulating, have just Mr. James Cunningham.-I beg to booked orders for half a dozen
This is an example of the value of
move:
tors of the company."
more,
Mr. A. C. F. Henderson.I have "That Messrs. McClelland, Ker specialising. Smith's Dock Company a particular study of and Company be re-elected audi- have made very much pleasure in seconding the resolution
whaling ships and their requirementa,
The
those in Chairman.-Will favour of the resolution kindly signify their approval in the usual way? Those against? Carried unsinmónaly
Directors Re-Elected
The Chairman I beg to move the following resolution:
and
"That Sir David McCowan Mr. Robert Clark, who retire at this meeting, and are eligible for re-election, be re-elected directors of the company."
Sir Frederick, will you kindly second that?
Mr. James Leslie-I beg to second and their past work stands them in good stead when Norwegian custom- that resolution.
additional vessels of the
The Chairman-Will you put that ers want resolution to
Mr..type. meeting,
the
Cunningham?
Mr. James Cunningham.-Is that agreed, gentlemen? Agreed.
The Chairman.Carried unanimous- ly.
The Chairman. That is all our business, gentlemen, to-day; it now remains for me to thank you for your attendance.
The meeting then terminated,
CONSIGNEES' NOTICE.
Consignees of cargo ex ss. "City of Singapore" are reminded to take delivery of their goods which will be subject to rent after June 6.
BANK LINE LTD.
ELLERMAN &
AGENTS FOR BUCKNALL S.S.
CO.,
SAILINGS SUBJECT TO ALTERATION. WITHOUT NOTICE.
UNITED KINGDOM & CONTINENT
S.S. CITY OF GLASGOW" London, Rotterdam, Amsterdam & Hamburg
S.S. "CITY OF CAMBRIDGE” London, Eatterdam, Amsterdam & Hamburg
NEW YORK, BOSTON, & BALTIMORE
8.8. "CITY OF MOHILE” 5.S. "CITY OF MANDALAY 8.9. "CITY: OF BEDFORD"
via Suez Canal.
via Suez Canal
vin Suez Canal
ALSO AGENTS FOR
LTD.
ELLERMAN LINE
...10th June,
.10th July.
AMERICAN & MANCHURIAN LINE
ANDREW WEIR & CO.
SERVICES TO
BOSTON, NEW YORK & BALTIMORE
S.S, "COMLIEBANK”. MAURITIUS & SOUTH AFRICA
.15th June,
12th July.
9th August.
AMERICAN & ORIENTAL LINE
7th June.
ORIENTAL AFRICAN LINE!
Loading for Mauriting, Reunion. Delagon Bay, Durban, East London, Algoa Bay (Port Elizabeth),
Mossel Bay and Capetowa
Through Bill of Lading sued to Beira, Quilimaine, The Port Amelia Mozambique, Chinde Inhambane, Zanzibar, Mombasa, Klindin, Port Nolloth, Laderity Bay, Walvis Bay Madagsetor.
For fraight or passage on any of the above lines apply to:
Telephone
Central 4771
THE
BANK
LINE, LTD.