MONDAY, MAY 18, 1931.
P.&O.-British India Apcar and
Eastern & Australian Lines
(COMPANIES incorporated in ENGLAND). MAIL AND PASSENGER STEAMERS.
TAKING, CARGO FOR
ETRAITS, JAVA, BURMA. CEYLON, INDIA, PERSIAN GULF, WEST INDIES. MAURITIUS, EAST AND SOUTH AFRICA, AUSTRALASIA, INCLUDING NEW ZEALAND AND QUEENSLAND PORTS, AND RED SEA; EGYPT, CONSTANTINOPLE, GREECE, LEVANTINE PORTS, EUROPE, &c.
PENINSULAR & ORIENTAL FORTNIGHTLY DIRECT ROYAL MAIL STEAMERS. (Under Contract with H.M. Government.)
8.8.
Toak.
1'ALIPORE COMORIN "BURDWAN
From
Hang Khang.
About
4931. 4.97 Bath May 15,00 Brd May Birth May
}
*RASIFMIR
RANPUSA
BASHGAR
RAWALPINDI
8,045 Gth June Juno 14,001 20th 4th 9.005 16,619 18th
July July 7618 25th July
Aug.
AUR
*PERISI
KATHER
*RMALI
PALITANA "PADUA
9.114: 1st
4th
16.568 15th Aug. 5.000 gend Aug.
-KARMALA CATHAY
9.129 With Aug. 15,121 € 12th Sept. 19th Sept,
*KALYAN
0,144, 20th Sept.
Destination.
Straits, Colanlar & Bonbay. Bombay, Marilles & London. Marseilles, London, Hull, Hamburg.
Rotterdam & Antwerp,
Mars., L'des, Hull, 'dam & A'werɔ, Bombay, Marseilies & ton.
'seilles, Ldon, Ram & A'werp:
Marseilles
esciles & London.
London.
Lon. Rdam & Alwerp
Rotterdam & Antwerp. Rembar, Marseilles & London. Marseilles, landon, Hull, Hamburg,
Rotterdam & Antwerp. Marseilles London. Bombay, Marseilles & Lendan. Marseiller, London, Hull, Hamburg,
Rotterdam & Antwerp. Marseilles & London.
THE CHINA MAIL.
R.M.S.P. GRANTED A
MORATORIUM.
K.C. and a Scheme to
Save the Company.
!
LIMITED BORROWING.
London, April 14.
The petition of the Royal Mail Steam Packet Co., Ltd., for the sanction of the court to a scheme of arrangement, in the nature of a temporary moratorium lasting six months, was granted, after certain undertakings had been given, by Mr. Justice Maugham in the Chancery Division to-day. Mr. Wilfrid Greene, K.C. (for the company) stated that the scheme would affect three classes of creditors the First Deben- ture stockholders (the trustees were Lord St. Davida and the. Prudential Assurance Company), the Second Debenture stockers (the trustees were the Midland
Bank Excentor and Trustee Co.,
and the Law Unions and Rock Insurance Co.), and the Prefer- jeure aberdolders of the White
Star Live. Ltd.
Criticism.
Mr. Horace Barnett Samuel, who held 1,000 Proference shares a the White Star Company, ap- peared. and counsel said he did not know whether it was to op pose or to criticis, the scheme.
Mr. Lionel Cohen, K.C. (for Mr. Sanuel): To criticise.
INDO - CHINA
STEAM NAVIGATION CO., LTD.
SAILINGS SUBJECT TO ALTERATION. Destination
Steamer
Ttas vin Stow & S'hal. POOSHING T'iau via Siow & S'ha..KWAISANG Tino via S'tow & S'hal ..ANGSANG Ttat via Stow & Sha..CHAKSANG S'pore, Penang & Calcutta SUISANG S'pore, Penang & Calcutta KUTSANG S'pore, Penang & Calcutta HOSANG Osaka via Amoy. Moil &
Kobe Osaka via Amoy, Moji &
Kobe * * *
Osaka
vin
& Kobe Samla kon
Sandakan
Sailing
Wed., 20th May at 7am Sun. 24th May at
7.1.
Wed.,
27th May at 74.91.
Sun..
„Tin
Sat.. .Tues.,
YUENSANG... Sun.,
KUMSANG .....Fri...
Amoy. MollsUISANG
MAUSANG .IINSANG
at May at 7 .. 19th May at 10 .. 6th June at 3 in. 16th June at 3 p
31st May at
a.m.
19th June at
7 a.hi.
Wed..
1st July at
7.TEE.
Wel..
Fri., ... Sun..
Ttain via Stow &, FoochowCHIPSHING Ttain vin Stow & Foochow CHEONGSHING Su..
27th May at Noon
5th June at Noo 24th May at 7 .. 7th June at 7 n.m. SUMMER TRIPS TO JAPAN.—Excellent first class accommodation on through steamers from Calcutta to Japan at the specially reduced return fare of $225.00 to Kube. These return tickets are available for three months.
For Freight or Passage apply to: --- JARDINE, MATHESON & CO., LTD. Telephone 30311.
General Managers.
HONG KONG AND MACAO LINE in Good Speed
S.S. CHUEN CHOW
Daily Sailing from Hong Kong at 2.00 p.m.
Sailing from Macao at 7.50 a.m.
Sundays excepted.
Freight and Passage apply : —
CHUEN ON STEAM BOAT CO., LTD. 241, Des Voeux Road C.
Mr. Greene said that of the 41 per cent. First Debenture stock
was £2,900,000 see if it were possible to effect a issued. The interest on that had scheme which would save this been paid. Of the 5 per cent. | concern and put it on a more
there
Tel. 26061.
PASSENGER LISTS.
ARRIVALS.
+
One could see that it would in- volve a very radical scheme in-San Francisco via Honolulu, Kobe Per s.s. President Hayes from
and Shanghai on Saturday:
deed,
Lomion, Hall, Hamburg, Seconti Debenture stocks there financially sound basis.
was outstanding $5,100,000, and, in that case also, the interest had been paid. Both those stocks constituted Boating securities, and the capital was repayable at the option of the company.
There was no fixed date for re- demption, but the capital be- camé repayable in ecrtain circum- stances,
• Cargo only. † Calls Casablanca. 1 Calls Port Swettenham. Frequent connection from Port Said for Passengers and Cargo toj Constantinople, Piruuus, Smyrna and other Levant forts by steamers of the Enerval Mail Swamship Co.
BRITISH INDIA-APCAR SAILINGS.
TILASSA I SANTHIA TAIMA
1981.
10,000 30th May 7,751 16th June 10,000 23rd June
Singapore, Penang & Calcutta. Singapore, Penang & Calcutta. Singapore, Penang & Culearta.
B.I. Apcar Line steamers have excellent accommodation for 1st and 2nd class passengers. All steamers are fitted with wireless and carry a qualified surgeon.
EASTERN & AUSTRALIAN SAILINGS (South).
TANDA BT. ALBANS NELLONE
1931
! 8,956 30th May Manila, Roboul, Irisbane, Sydney
4:500 3rd July 6,853 1st Aug.
& Melbourne.
Undertakings. After further discussion, it J. Gelomb, Walter A. Joyce, Dr. Mrs. K. Anderson. Mr. and Mrs. was agreed that the Royal Mail. H. Slot, Miss B. Steele, W. J. Company should undertake that
Wilson. it would not, before the expiry of the moratorium, voluntarily pay bills amounting to 195,000, May 15:-
Per ss. Empress of Japan on The position with regard to the certain sums due to subsidiary Baron Roenne, Mr. and Mrs. Preference shareholders of the and allied companies amounting E. R. Sandstrom, Miss L. Bushell, White Star Line was that there to £239,000, certain calls and Miss M. M. McCulloch, A. E were shares outstanding to the contingent liabilities, and that Phillips, Mrs. G. Apacible. Mr. and npurt of £5,000,000 which was the borrowing powers of the com- Mrs. R. Regazzi, M. C. Brash. guaranteed. os to capital and pany should not be exercised be- c. T. A. Carter, Mra. S. F. divideral, by the Royal Mail Com-yond the £250,000 provided for Churchill, Mrs. J. B. Danby, T. Y. pany unvier two documents of by the scheme.
Daene. J. M. Dyer. L. Everett, N. A. German, Mr. and Mrs. H. M. Gregory, O. R. Hegness, W. P. Hunt, Mrk. D. E. James, Sub-Lieut. W. Mauclshagen. J. Mrs. D. E
1927.
£162,500 Guarantee.
The dividendi was duly paid, but, onun 1 last, the half year's dividend. which fell to be paid by the White Star Line, could not be paid by them and the Royal Mail Co. was called upon to implement its guarantee. It was unable to do so and this gave rise to the present scheme. The total sum payable under that guarantee was £162,500.
If the structure were to come down the value of the Preference shares would be problematical in the extreme.
Regular monthly sailings from Hong Kong to Shanghai and Japan feet wes 23,375,234, and the in-
and Hong Kong to Austenlis.
Hong Kong to Sydney-19 days.
The value of the Royal Mail vestments in subsidiary com- panies £5.965,000 making a total £9,000,000. which had been written down to £6,0000,000. It was not very optimistic to feel that the First Debenture stock-
Frequent connections from Australia with the following:-- The Union S.S. Company's steamers to the United Kingdom vla New of over Zasland, Vancouver, San Francisco, etc.
The F.&O. Royal Mail Steamers to London and
The P. & D. Branch Service of steamers to London via Suez,
The New Zealand Shipping Company's steamer for Southampton and holders would receive if there
London vin Panama Canal,
SAILINGS TO SHANGHAI & JAPAN.
1931.
RANPURA
16,001 22nd
May
Shanghal, Kobo & Yokohamaa.
SANTHIA
TALMA
EASHGAR
ST. ALBANS
•PERIM
TAKADA
RAWALPINDI
SOMALI SIRDHANA
KHYBER NELLORE TILAWA
RAJPUTANA SANTHIA KARMALA
*NANKIN
5th 5th
7,761 22nd
May 10,000 4th June
9,005
June 4 530
June 7,048 10th JURO 0,040 18th June 10,619 19th June
2nd
June
July
3rd July
Amoy; Maj, Kohe & Yokohama, Amoy, Moj, Kobe & Osaka, Shanghal, Holi, Kebe & Yokohama. S'hai, Moji, Kobe, Osaka & Y'homa. Shanghal, Kobe & Yokohama. Amoy, Moll, Kobe & Osaka,
hangha Robe & Yokohama,
Kobe & Yokohama.
Amoy, Moji Kobe & Osaka.
Shanghai, oji, Kobe & Yokohama. 8th July S'hai, Moji, Kobe. Osnka & Yhama: 10th July Amoy, Mol, Kobe & Osaka. 16.580 17th July Shanghai. Kobe & Yokohama,
Amoy, Moji, Kobo & Osaka.
27th
7,745
9.114
6.853 10,000
7,754
30th
July
0.128 Sirt
July
| 7,058 | 1st
Aug.
* Cargo, only.
Shanghal, Bojt. Kobe & Yokohama. Shanghal, Kobe & Yolohania.
All dates are approximate 'and subject to allerstion without notice. WIRELESS TELEGRAPHY FITTED ON ALL STEAMERS. Passengers for Rangoon must defray their own Hotel expenses at Bingapore while awaiting the on-carrying steamer.
All Cabins are fitted with Electric Fans free of charge. Steamers on London and Australian Lines are fitted with Laundries, Parcels measuring not more than 2% ft. x 2ft x 1ft. will be received at the Company's Office up to Neon on the day predous to saliing.
For further Information, Passage, Freight, Handbooks, etc., apply to:-
MACKINNON, MACKENZIE & CO.,
P. & O. Building, Connaught Rd. C., Hong Kong.
Agents.
THE KWONG HIP LUNG CO. LTD.
ENGINEERS and SHIPBUILDERS, BOILER MAKERS, BEASS and JRON » FOUNDERS. All work done in this establishment' is guaranteed. We have over thirty years' experience. We own two, Elip- wars and can accommodate any craft af 200 feet long. Town Offices 64. Connaught Road Central, Hong Kong. Tel. 20159. Shipyard: Sham-shul-po, Kowloon, Hong Kong. Kowloon Tel. 37099,. Estimates furnished un application, Hong Kong, April 1, 1924.
were
was
a break up, the value of their debentures.
The Second Debenture stock
not in such a favourable! position, and it was impossible to predict confidently, one way or the other, whether the holders would receive in full the amount of their debentures.
At Treasury's Mercy. The Preference shareholders in the White Star were in a less favourable position still, and. quite apart from the position of balance-sheet, the Royal Mail their position was dependent on that of the White Star itself, which again was dependent on the position of the Oceanic.
The Oceanic, at the present moment, was, so to speak, at the mercy of the Treasury and the banks, who had made large ad- vances. The present scheme for a breathing space of six months -three of which had already, ex- pired would give a chance to
Subject to these undertakings, the actual form of which will be agreed by counsel, Mr. Justice Maugham approved the scheme.
"Most Wisely."
DEPARTURES.
Manila on May 16:
Per s.3. Empress of Japan for
Jorge Teodora, Mr. and Mrs. L. Pasicolan, Mr. and Mrs. Allan
G. J. McCarthy, C. B. Morrison, The present scheme, he said, provided, in effect, that the de-Rexburgh, Mr. and Mrs. W. H. E. D. Rainals, G. Rodalz, R. R. benture stockholders were not to Taylor. take proceedings to enforce their security before June 30, 1931. Apart from the scheme they would have a strong case for the appointment of a receiver on the ground of jeopardy, which would
Cameron, Van Der Sande, Mr. and be a disastrous thing.
A. Fossum, Mrs. E. The scheme also provided that, Mrs. C.
Strauss, A. B. Park, so long as
A. Gerner, no execution levied against the assets of the W. H. Poters, O. H. Ochs, Mrs. J. company, the shareholders of the Dent, Miss S. Dent, P. de Jesus, White Star Company should not Mrs. M. E. Symona, Mrs. A. de enforce their gurantee. In his Trillo, Mrs. A. de Nieto, Mrs. opinion, the persons interested C. G. Sabater and three daughters, had acted most wisely in the matter.
צפ'ון
Mr. and Mrs. F. Bayot and BOTE, Mias J. Albao, J. B. Mantong, Mrs. M. Borromeo and two dauglitera, Miss C. Lejame, Miss L. Martori, Mrs. T. C. Brodt, Mr. and Mrs. E. Carpio. Tiango and infant, J.
Lord St. Davids (a trustee for the First Debenture holders) did not now actively oppose the scheme, but he intimated that, in his opinion, it was not in the in- M. terests of the First Debenture stockholders.
WARSHIPS IN PORT.
The following British warships were in harbour to-day
Bruce-In dock. Hermes No. 1 buoy. Odin-In dock. Otur in dock. Proteus-In-Talkoo. Sandwich-No. 7 bugy. Sirdar-West wall dock. Somme-No. 13 buoy. Sterling North arm. Tarantula-No. 8 budy. Tamar-Basin.
Foreign Men-of-War. Argus-French gunboat. Beaver-American gunboat and submarines.
TRAVEL A.-O. LINE
Te AUSTRALIA. Calling at Manila (P. Is.), Thursday Is Cairns, Townsville, Brisbane, Sydney and Melbourne.
BRITISH STEAMERS: CHANGTE - TAIPING (JUANERS)
FASTEST and MOST UP-TO-DATE STEAMERS IN THE SERVICE. ELECTRIC LAUNDRY, BARBER SHOP, SURGEON 224 STEWARDESS CARRIED.. Enjoy Your Short Leave in Australia and New Zealand, Hong Kong, Sydnaj-19 Days,
FIRST CLASS FARE TO SYDNEY, $76 RETURN
LONDON. (via sustralia) from £136.15.0.. "(Australian Newspapers on Ala)
STEAMER TAIPING
Dus Hong Kong
Leaves Hong Kong
In port
May 22
Lewes Manila May 203
Den Sydacy
JED 11
OHANOTE TIPINGUIN
JUDA 23
Joy $
CHAYOTE
July 10 Au, JI
July
Ang. 10
Aug. 23
Sept.
LINE, LIMITED
AUSTRALIAN-ORIENTAL
BUSTERFIELD & SWINE; Agrafe/-HONG KONG-SHANDRAS
Gutierrez, .C. Briones, Fermin Castila, Miss K. Hyndman. Rev. Bro. Hilary, V. de Kran Monteiro.
PRESIDENT LINERS
SAR PRANCIS
DIRECT SAILINGS
ΤΟ
NEW YORK
VIA PANAMA.
WEEKLY TRANS-PACIFIC SERVICE
To San Francisco, Los Angeles | To Seattle & Victoria.
& New York via Panama,
The Sunshine Belt via Honoludu
Fortnightly sailings on Tuesdays Pres. Pierce May 26, 6 a.nt. Pres. Wilson
..June 9 Pres, Johnson
June 23
The Short, Straight Route to America
Fortnightly sailing on Sundays.
Pres, Taft .... Pres. Jefferson
Pres. Lincoln
May 31. ..June 14 June 28
£120, £112 Special trough rates to Europe vin Unit-
of States. Direct connections with all AL- lantic lines. Choice of rail lines across United States and Canada, liberal stop-over privileges for sight- sering.
ROUND TRIP FARE TO EUROPE. From Hong Kong to Naples..
**
Marseilla s
་་
T
Landon
£132. 6.04.
CIGT. 0,0d. £169.15.0d.
Full particulars upon application.
EUROPE AND NEW YORK DIRECT
ROUND THE WORLD.
Fortnightly Balling on Sundays via Manila, Straits, Colombo, Suez Canal, Alexandria, Naples, Genca, Marseilles, New York and Boston,
a.m.
A.M.
Pres. Fillmore Pres. Monroe
.May 31, 8 Pres. Van Buren ..June 28, 8 June 14, 8 Pres. Garfield ....July 12, 8
TO MANILA
Pres. Pierce... May 19, 4 pm. Pres. Jackson June 2, 4 p.m. Pres, Madison May 23, 4 p.m. Pres. Jefferson June 6,4 p.m.
CANTON BRANCH:-4, SHA KEE STREET.
DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE
JANSER/
WILHEIKSEN
UNE
PALAVA
EXPRESS
SERVICE
BARBER WILHELMSEN
LINE
TRANS-PACIFIC AND ATLÁNTIC COAST SERVICE
via PANAMA.
NEXT SAILING
M.V. "TAI
on MAY 18th.
for
YIN"
SHANGHAI, KOBE, YOKOHAMA, SAN FRANCISCO, LOS ANGELES, NEW YORK & BOSTON.
42 Days To New York.
For Passenger and Freight Information please apply:-
DODWELL & CO., LTD.
Queen's Buildings.
Agents.
Telephone 28021.
THE HONGKONG & WHAMPOA DOCK CO., LTD., HEAD OFFICE AND WORKS:
KOWLOON, HONG KONG HONGKONG OFFICE 28018. DOCK OWNERS, SHÍP DESIGNERS AND BUILDERS, MARINE AND LAND ENGINEERS, BOILER MAKERS, IRON, STEEL, AND BRASS FOUNDERS,
FORGE MASTERS, WELDERS AND ELECTRICIANS.
Telegrams: "MANIFESTO, HONG KONG."
On Lloyds
list of
approved
Cant
Steel
Manufac.
tarers.
T.S.S. "EMPRESS OF JAPAN."
Telephones:
KOWLOON DOCK 58058.
Harbour
Call Flags
Engineer
*K*
Boller
maker
"T"
Shipwright
In No. 1. Dock, Dimensions:--666'0′′ Ø.A. x 93′6′′ x 48′6′′ Mid. 20,000 tons Gross.
The Company possesses Six Granite Docks and Two l'atent Slipways. The dimensions of No. 1 Dock are 700'0" x 99′0′′′ x 30′6′′ over sill, H. W. 0.8. T. Salvage Tug "Henry Keswick." 2,000 LH.P. Wireless Call Signal VX.RT. and Flag Cell Sigrial T.HI.Q.B. She erlegs capable of lifting 80 tons.
Codes Used: A1, A.B.C. Fifth Edition: Engineering, First and second Edition. Western Union. Bentley and Watkins.
Kindly send enquiries to the Chief Manager,
up."
R. M. DYER, B.Sc., M.IN.A., Kowloon Docks, Hongkong.