NYISLINE
THROUGH BOOKING TO EUROPE AT REDUCED RATES, £120, £112, £110, £102, £83, via San Francisco. £95, £90 108. via Japan and Seattle.
SAN FRANCISCO via Shanghai, Japan Ports & Honolulu. · 12th Juns. Wednesday, TENYO MARU
Wednesday, 10th July.
SEATTLE, VICTORIA via Shan ghai & Japan Ports.
SHINYO MARU
SHIDZUOKA MARU
YOKOHAMA MARU
17th June. 1st July. LONDON, MARSEILLES, ANTWERP, ROTTERDAM via
Singapore, l'enang, Colombo, Suez:
ATSUTA MARU
Monday, Monday,
KASHIMA MARU
Saturday, 18th June. Saturday. 29th June.
SYDNEY & MELBOURNE via Manila & Ports.
TANGO MARU
AKI MARU
Wednesday, 26th June. 'Wednesday, 24th July.
Tuesday, Thursday,
11th June.
27th June,
ROMBAY via Singapore, Penang, & Colorabo.
SADO MARL
.
+ TOTTORI MARU
THE CHINA MAIL,
SHIP PROPULSION
WILLIAM FROUDE TANK EXPERIMENTS
RESEARCH AND TEST WORK
SHIPPING
Last year a considerable increase i was recorded in the amount of test work undertaken in the William Froude, National Tank for firms and private bodies. This year an even greater volunie of test work has been carried out, although an attempt has been made to reserve the tank on two days in the week for systematic research, The possibility of securing increased facilities for experimental work at Teddington n is receiving consideration from the Tank Advisory Committee, according to the report for 1928 of the <OUTH AMERICA (West Coast) via Japan, Honolulu, Los Angeles, Executive Committee of the National Physical Laboratory. At Hamburg, in Mexico & Panama.
similar circumstances, a new tank has ANYO MARU
Tuesday, 9th July.
fately boun constructed, and in view of the shipping industry and the econo- mies and improvement effected as the result of tank tests, it is perhaps not anreasonable to hope that the shipping industry in this country may decide to provide the necessary funds for a second tank adapted for work at higher speerts.
SOUTH AMERICA, (East Coast) via Singapore, Cape Town & Ports, the demands made in recent years by
KAMAKURA. MARU
Tuesday, NEW YORK, Boston, Havana via Panama
Wednesday, TAKAOKA MARU
LIVERPOOL via Port Said, Constantinople, Genoa.
DAKAR MARU
DURBAN MARU
Thursday,
Saturday,
9th June.
19th June.
13th June... 20th July.
Saturday,
15th June.
Monday,
Tuesday,
10th June.
11th June.
CALCUTTA via Singapore, Penang & Rangoon,
† MORIOKA MARÜ
SHANGHAI, KOBE & YOKOHAMA,
SUWA MARU
BINGO MARU (Kobe direct)
†Cargo only.
Reduced 1st Class Excursion Rates quoted between Manila and Australia,
For further information apply to NIPPON YUSEN KAISHA. Tel: Central No. 292 and 1897. (Private exchange to all departmenta.)
O. S. K.
SAILINGS FROM HONG KONG SUBIECT TO ALTERATION.
SECTION.
and expense ratios combined come to over 50 per cent of the premium in- comt. This is one of the inevitable troubles to be faced in building up a new department, but the position should gradually right itself, as the business develops, just as it has done in the fire department. We have trans- ferred £20,000 from profit and less account to the accident account, and the reserve now stands at 50 per cent. This transfer necessary to build up
SEA INSURANCE CO. the reserve in the accident account to
AN EXCELLENT MARINE ACCOUNT REPORTED
ANNUAL MEETING
the
In dealing with the year's operations, we always start our review with our
depart senior section-the marine ment.
ness.
a reasonable percentage of premium income. I feel that we shall, in due course, be amply reimbursed by the ac- cident department for our assistanée, just as the fire department is now show ing distinct signs of financial useful-
The 53rd annual meeting of
Investments shareholders in the Sea Insurance Co., Now, with regard to the Company's Ltd., was held at the offices of the investments, I am glad to report an company, Exchange-buildings, Liver-increase of £74,000, the total amount pool.
being £1,600,551 against £1,526,252. The report and accounts having The total of the company's assets are been taken as read,
£1,945,715, being an increase over last The Chairman said:-I have to re- year of £131,000. These figures have. port with regret that since we last of course, improved our net interest met
lost we have
by death Mr.income, which has moved up from Owen Jenes, who was secretary of the £61,528 to $65,242. You will remem- company for five years and altogether ber that we increased the interim divi- served as faithfully fox over thirty-dend last October by 3d. per share; 1928 received during two years. His duties have been under the interest
With taken by the sub-manager, Mr. William: covers the increased dividend. Barlow, who has been appointed act our premium income gradually in ing secretary. I have pleasure increasing in all departments, I think we announcing that Mr. R. Hagh Roberts, are likely to show a reasonable increase J.P., has joined Viscount Feilding on in net interest from our investments
hove, company's investments our Birmingham board. Mr. G. D. The Meadowcroft has been appointed acci- throughout the year been most care- dent manager to the company.
fully studied by a special committee and the whole board: our lower yield- ing securities have, to a moderate ex- tent, been transferred into somewhat Marine underwriting in 1928 higher yielding investments of first- was notable for total losses of first-class character, and we anticipate these At an earlier date the tests made re- clase passenger and cargo liners, and changes will result in a better aver- Jated mainly to the improvement in we have suffered considerably in this age investment rate during the course hull form. The tank is now fully respect. There has been no improve- of this current year: the total book equipped for propeller tests, and in ment of any material kind in cargo value of our investments at December nearly all cases the model for test is rates, but there has been a steady in- 31 last was comfortably lower than fitted with motor and propeller, and the erase in the rates for the bulls of the actual market value. ship resistance determined under work-
steamers. Notwithstanding these in- The company's total premium incorne ing conditions with the propeller, rang creaxea our Agures, zfter a very care-
in 1928 was £186,000, whilst live years.
relying on ful investigation, show that the hull ago,
marine ning. Tests in waves are made, and
pre- the manoeuvring power can be investi-
business is still running
The at a loss. min alone, it was £424,000. Large liner fleets, which have gone profit and loss account; after deduct- gated.
The research on the influence of well in the past, are now rated at pre-ing the net recommended dividend, will
cannot leave enough have A carry waves on the propulsion and pitching miums which
forward of £99,581, of shipt has been continued daring the margin to pay for the inevitable total against £88,707 the year before. The
credit loss. On tramp and coasting steamers cash
balance amounts to past year. The work has shown that
the lose has been particularly heavy. 907,176, which is about £4,000 less than an appreciable proportion of the energy loss in rough weather may be due to In our opinion the remedy to bring last year. Sundry debtors show decreased propeller eficiency, and this about a return to profitable conditions reasonable increase at £247,000 occa- aspect of the problem has been special in the marine insurance market lies not sioned by the increased business done ly studied. The committee have to so much in tariff regulations as in the by the company. thank the Cunard Steam Ship Cora-pointment of underwriters who have pany, Ltd., for the help afforded by had the necessary adequate training in them in connection with this research the hard, school of experience, and by by giving facilities to three members their refusal of very risk which is put forward, at a rate which offers no measurements on the "Mauretania" and margin of profit.
the the "Berengaria" whils: crossing Atlantie, to obtain confirmation of the conclusions reached in the tank experi-
LONDON, HAMBURG, ROTTERDAM & ANTWERP Via Singapore of the staff to make observations and
Colombo, Suez and Port Said,
ALTAI MARU
.... Friday, 12th July. RIO DE JANEIRO, SANTOS & BUENOS AIRES--Via Saigon, Singapore,
Colombo, Darban & Cape Town.
MANILA MAKU
BOMBAY Via Singapore & Columbo.
SUMATRA MARU
CHIFUKU MARU
DERBAN, LOURENÇO MARQUES, BEIRA, DAR-ES-SALAAM, ZANZIBAR
& MOMBASA Via Singapore & Colombo.
CALCUTTA Via Singapore, Penang & Rangoun.
PANAMA MARU
CELERES MARU
TACOMA MARU
ALABAMA MARU
ments.
Air Resistance
in under
you
made
a i
MONDAY, JUNE 10, 1929.
PACIFIC
to EUROPE
via CANADA
UNDER ONE MANAGEMENT
SE the Canadian Pacific Route
the troublesome details that usually arise our of a 10,000 mile overseas jouncy.
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 ncross the Atlantic is made on Canadian Pacific ships and trains; your stopovers ut Canadian Pacific notels.
One ticket One service
The utmost in speed and comfort.
CANADIAN PACIFIC
WORLD'S
Next sailing to the Pacific Coast
EMPRESS OF RUSSIA
Noon June 26th, 1929. GREATEST TRAVEL SYSTEM
BRITISH WUCHOW LINE
Marine suspense account shows an increased balance in this fund of about £8,000-proving our allocations for un- or unpaid losses in previous known years to have been carefully and gen- erously estimated. Hull Business
this For income-tax
year, Fortunately a very large proportion will
notice that we have
the reason being that of our business to-day is cargo, and provision,
A new economical way to spend a we have not suffered as others have we
a Eave
surplus
our short summer holiday. Take a trip to done by the deplorable buil results, income-tax reserve,
-the Wuch w and back. Only requires although, owing to our important post-heading "Sundry Creditors and Credit four lays. See all the sights of the At the request of the Tank Advisory
tion in the marine insurance market, Balances." This surplus is more than West River. It costs you only $88.40 Committee an investigation has been
we have had to take a certain amount suficient to meet our present liabili- and can be done in five days. Your commenced to determine the air resist-
of hull business; I can tell you quite ties and further provision is deemed budgeti ance of the ship and superstructure.
frankly that our results would have unnecessary. The tests for air resistance will be made in winter with a
submerged been much better if ws had not felt it model, the results for air being deur duty to continue giving support
to our old connections. duced by taking account of the differ-
ces in density and kinematic cosity. It is proposed to measure the air resistance of three main types of
VICTORIA, SEATTLE, TACOMA & VANCOUVER Via Japan Ports from ences
Shanghai.
Thursday, 27th June.
Wednesday, 19th June. Thursday. 4th July.
...Sunday,
7th July.
Tuesday, 18th June. Tuesday, 2nd July.
Monday, 10th June.
Tuesday, 18th June.
.... Thursday, 27th June 10 am.
KEELUNG-Yiu Swatow & Amoy.
HOZAN MARU
Sunday, 16th June 3 p.m.
CARAO-Vla SWATOW & AMOY.
DELI MARU
Thursday, 20th June Noon.
ARABIA MARU
MELBOURNE-Via Manila, Brisbane & Sydney.
HAIPHONG—Vla Hoihow a Pakhoi.
MENADO MARU
NEW YORK Via Japan porta, San Francisco & Paname.
APAN PORTA.
TAKAO & KEELUNG
or further particulara please apply to.-OSAKA SHOSEN KAISHA.
M. TAKEUCIII, Managet. Tel Central No. 4088. 4089, 4090.
American Express Travellers
Cheques
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THE AMERICAN EXPRESS CO., INC.
4, DES VOEUX ROAD CENTRAL, Hong Kong.
SHIPBUILDERS,
SHIP REPAIRERS, BOILER MAKERS, - FORGE MASTERS, OXY-ACETYLENE, AND
ELECTRIC WELDERS, MECHANICAL, AND
ELECTRICAL ENGINEERS.
vis.
hull namely, for cargo, intermediate and passenger steamers,
The Pensions Fund, which the share- holders generously approved last year, has been a great help to the directors The 1927 marine account has been of the company planning for the closed by the transfer to underwrit-future: I can hardly say how much
Passage for round trip
Meals on board
Lodging on board
Total
,$20.00
16.40
2.00
$38.40
Why not make a trial? The cuisine
ing suspense account of £53,000, and the board appreciate the confirmation the net result is a profit of £92,146, or of the shareholders of their financial is excellent and the accommodation over 6 per cent. on the premium in- proposals concerning the establishment comfortable; once you try you will re- come of £483,710. This, I hope, you of this fund, which, at the end of commend it to others. re-
the year, had an increased balance will regard as satisfactory.
gratitude.
JUNE SAILINGS
DEPARTURE HOURS:
Hong Kong 5.30 p.m. Wuchow 2.00 p.m. S.S. TAI MING"
[1,008 tons-Capt. O. B. Wike.] JUNE. FRI... 11th · MON. 24th WED. 19th SUN, 30th
8.8. "TAI MING" [649 tons Capt. G. J. Spink,}
JUNE.
TLES.
11th SUN. 16th
FRI 21st WED. 26th
For information apply to...
KWONG WING for
87, Connaught Road West, Phone: Central, 893.
Ltd.
In connection with propeller search, work has been done on the effact
We consider that our underwriting carried forwurd of approximately of varying the immersion. The effect
department should be congratulated | £4,000, on the propulsive efficiency and revolu-
Enthusiastic and Efficient Work ed that the thinks of the meeting be some unsatisfactory conditions which tions of a single screws, due to a middle-upon it. At the same time we should
tender cur thanks
London to our
Our general manager
are retarding a substantial improve- has just re-given to the chairman, the directors, line fin in front of the rudder post,
agents, Messrs. Willis, Faber
ment. and turned from a satisfactory visit to New and the officers and staff of the com
That, he would say, was in was tried. As a result of the fests this fitting has now been adopted on
Dumas, Ltd., for the careful way in York and Canada, and I most cordially pany for their services during the past respect of their old established busi- marine insurance. The other He said the very name of the ness, which they have managed our affairs, wish to thank him, our staffs at head year. several ships, and their trials appear to
in what we consider to be the most offices and the branches, and our agents Sea Company spoke of solidarity. They branches were growing up, and mean- bear out the tank results. An investi-
difficult market in the world. Our all over the world, for their enthusias had to congratulate the chairman and time had suffered from glowing pains. gation has also been in progress for
American business win screws, into the relative advan-
The only certainty is held by the in the hands of tic and efficient work during the year. the directors on the excellent report Messrs. Chubb and Son has again pro- think I have now pet before they had wbmitted. Unlike many assured who pays his premium: pro- tages of inward and outward turning
duced good results, and the underwrit-you all the important features of the other companies they did not seek a vided he pays it to the Sea Company, screws, and into the elfect of fullness of form on the maneuvering powering ability responsible for it well de- year's work, and I close my remarks large premium income instead of pro-he is sure of getting his money, but
serves our admiration and
by thanking you for the support fits. Their business showed a satisfac-it was the assurer who held the an. of a twin-screw ship with an unhal-
In 1998 our marine premium income which you have given to us, and by ask-tory growth. They were also indebted certainty of the risks insured against anced rudder.
was increased by £58,000 to £541,000, ing you to use your best endeavours to to the chairman for his lacid explana-how much-or how little return they and you will see that the claims settled bring more business for our consideration of the affairs of the company, would get, if any, in the first year were 32.08 per cent., tion.
Mr. J. H. Corbett-Lowe seconded, would be left for thing at all, as compared with 85.12 per cent. the The report having been seconded by and the motion was heartily approved. success in business, as in life, did not We have also decreased Mr. Clement W, Jones, the chairman in- At the request of the chairman Mr. always depend upon holding good cards, year before.
but in playing a bad hand well, and our expense ratio from 812 per cent.vited any questions relative to the mat- E. J. Spencer replied. to 8.06 per cent.; there has been ater, but none being forthcoming he put
Prospects Still Better
they were to be congratulated in com- reduction steady
in
well through a difficult past. the ex-the motion, which was carried unani Mr. Spencer on behalf of the chair- ing se pense ratio now fer some years.mously.
nian and directors, and of the officers They had an excellent chairman, who The 1928 account has Tus fifteen
On the motion of Mr. R. C. Cairns, and staff, thanked the shareholders had done excellent work, and with his of ita course, and months
seconded by Mr. E. A. Behrend, the re for their cordal and welcome apprecia unremitting care and the help of the results very large proportion of its liability tiring directors, Sir Benjamin S. Jobn- tion, which was most encouraging. other directors, coupled with the aid of has run off: with an average loss ratio son. Mr. A., C. Lowrey and Mr. 3. The chairman had fully and clearly a most capable general manager, who at his back an excellent staf, given them the history of the work of had during the next nine months, we con- Howard Temple, were re-elected. template being able to show you a The auditors, Messrs. J. W. Davidson, the company up to date. They might they might confidently rely apon every satisfactory result.
Cookson and Co., were re-appointed on be well satisfied, for their accounts thing being done to continue the work the motion of Mr. A. Potter, seconded were better than this time last year, of the Sea Company as a profitable by Mr. Horace M. Williams.
and the prospects were still better, and expanding business.
This concluded the proceedings. Mr. John Price Hargreaves propos- though they were struggling against
The experiments for the comparison of resistance measurement in air and water are being continued. The re- sults of such a comparison for pro- pellers were published in the spring Further work is proposed to elucidate differences found between the air and water resistance of airship forms.
Wake and Friction
A comparison 19 being made of wake and friction for ship and model. The mathe matical calculations of wave re- sistance for certain three-dimensional forms and comparison with tank tests have been continued, and are yielding results of much interest.
The trials of a number of vessels have been attended during the year by members of the tank staff, and interest. ing comparisons have been obtained be- tween tank and full-scale results relat ing to special features in the design or to propeller efficiency.
The Tank Advisory Committce have again expressed their appreciation of the efficiency with which the work of the tank is conducted under Mr. Baker, and the successful results achieved. (Continued at foot of Next Column.)
-DRY DOCK-
Length 787 Feet, Length on Blocks 750 Fect.
THE TAIKOO DOCKYARD & ENGINEERING COMPANY
OF HONG KONG, LIMITED.
Wireless Calli SALVAGE TUG “TAIKOO"
V.P.G.N. 600 Meters.
Tel. Address: "TAIKOODOCK," HONG KONG. Telephone No. 212 Central.
Call Flag: "C" over "ANS. PENNANT.”
Depth on Centre of
Sill (H.W.O.S.T.) 34 ft. 6 ins.
i
--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,
AGENTS. HONG KONG, CHINA & JAPAN.
S
Increased Fire Income In the fire department the income was increased by £28,000, from £153,822 to £181,903. The loss ratio i was 50.77 per cent. and commission and expenses 40.16 per cent. After allow- ing the fall 40 per cent. for reserve on the increase in premium, the result is a profit of £5259. We do not propose to transfer this surplus to profit and loss account, but to carry it forward, making the reserve in the fire depart- ment about 45 per cent, of the pre- mium. fncome.
We are pleased with this result, particularly when we remember that this department has only been in oper- ation for five years; it has contributed substantially to our interest account and helped in reducing the over-bead charges, previously barne alone by the marine department. We are continu- ing to extend this branch of our busi- ness, and while proceeding on cautions lines, we are energeticals investigat- ing every opening for developing the fire department; we have to-day, bom- ever, a premium income of about £8,500 per week, showing a small and worked up from nothing in five years. The accident department is not, such à satisfactory story, but you must re- member that it has only been operat ing for three years. On the year's working, we are short of our 40 per cent. reserve by £12,370 This of course, is largely due to the fact that we nearly doubled the income in 1928, the premium in 1927 being £33,249, and in 1928, £62,377. The commission
profit
On their recommendation arrangements were made in the autumn for Mr. Baker to visit a number of tanks and research institutions in America, and Canadian Pacific Steamships, L., gave evidence of their interest in the work accomplished by the tank staff by kindly offering Mr. Baker a free pass age to Canada and back.
In 1927-8 the contributions received towards the tank research. fund amounted in all to £1,968. This total included subscriptions of 2500 from the Chamber of Shipping and of £250 from the Liverpool Steam Ship Owners' Association, as well as a special contri bution from the Institution of Naval Architects of £899 2 7d, the balances of Funds for other work completed. "Journal of Commerés.
BANK
LINE LTD.
AGENTS FOR
ELLERMAN & BUCKNALL
After all,
S.S. CO., LTD.
SAILINGS SUBJECT TO ALTERATION WITHOUT NOTICE. UNITED KINGDOM & CONTINENT
S.S. "CITY OF CAMBRIDGE" London, Rotterdam, Amsterdam & Hamburg
!
ELLERMAN LINE
..10th July.
AMERICAN & MANCHURIAN LINE
vis Suez Canal
15th June.
rla Suez Canal
15th July.
NEW YORK, BOSTON, & BALTIMORE
S.S. "CITY OF MOBILE" S.S. "CITY OF MANDALAY" S.S. "CITY OF BEDFORD"
via Suez Canal
ALSO AGENTS FOR ·
ANDREW
WEIR & CO.
SERVICES TO
BOSTON, NEW YORK & BALTIMORE
S.S. LARCHBANK”
MAURITIUS & SOUTH AFRICA
9th August.'
AMERICAN & ORIENTAL LINE
21st June.
ORIENTAL AFRICAN LINE
Loading for Mauritius, Reunion, Delagos Bay, Durban, East London, Algoa Bay (Port Elizabeth),
Mossel Bay and Capetown
Through Bill of Lading Issued to Beira, Quilitasine, Ibo, Fort Amelia, Mozambique, Chinds, Inhambane, Zanzibar, Mombasa, Kilndini, Port Nolloth, Luderitz Bay, Walvis Bay and Madagascar
For freight or passage on any of the above lines apply to:-
Telephone
Central 4791
THE BANK LINE, LTD.