THE CHINA MAIL, APRIL 8, 1937.
JARDINE'S BUILDING CHALLENGE
NEW SHIPS
IMPROVING CONDITIONS ON THE
CHINA COASTE
of
to
TO ARSENAL
MANCHESTER CITY WIN AGAIN
LUTON'S
:
VICTORY
First Division
1
AN ANNOUNCEMENT THÁT TWO NEW STEAMERS OF THE TAKSANG CLASS ARE BEING BUILT BY THE KOWLOON DOCKS FOR THE INDO-CHINA STEAM NAVIGATION COM- PANY WAS MADE BY THE HON. MR. J. J. PATERSON AT THE
London, To-day. ANNUAL MEETING OF SHAREHOLDERS AT NOON TO-DAY.
Manchester City, who have put brilliant run "of The Chairman said:-Although Ship- pioneers, but the matter is subjudice themselves by a ping in the East naturally enough island for the moment I must leave it:
successes into the position of seri- HOPSANG MISHAP affected by the tonnage position world markets, it would be a mistake Your Directors once more are pleas-ous contenders for First Division to suppose that the tide of prosperity ed to report that no major casualty honours, gained another two points that has overtaken the shipping indus-occurred in the Fleet in the period when they scored a narrow victory try, in other countries has reached these under review and I feel sure you over Brentford at home yesterday. shores at anything like full flood. For will wish to associate yourselves with In the First Division of the Scot- the past two years or so this, market them in paying a well deserved tribute has been overtonnaged, for the amount to the Floating Staff. You have read tish League, Rangers ran wild at of business offering, and even as late of the stranding of s.s. "Hopsang" on Hamilton and scored five goals in as July last ten steamers were lying Garanbi Point, Formosa, on 11th a one-sided match. idle in Hong Kong. Later in the year March last. At the time of the ac- The following were the results trades outside China improved and, as cident she was in a light condition, of matches played yesterday: vessels left the Coast, the tonnage position in relation to the volume of appears to have been overwhelmed by
stress of weather and is likely Trade began to adjust itself, a process become a total loss. that must of necessity take time. How-
As regards the future position of M'chester City 2 Brentford ever, the Company is benefitting by the Company, you know that we have the improved trading conditions and I
Third Division (South) am glad to report that the net balance been short of tonnage since 1931 and The disadvant- of Steamers' Working Accounts this have had to charter.
5 Gillingham year shows a profit of £62.539.3.4d. as ages of employing other people's ships Luton against a loss. of £27,346,11.6d. last to-day will be obvious to you but to
Third Division (North) year. After deducting the debits us- charter was the only method avail-
◊ Lincoln ual to Revenue Account and adding able to watch our interests until the Gateshead
a certain credits, all of which are ex- promise of better times justified
SCOTTISH LEAGUE end
of Towards the plained later, the year closes with a longer view. loss of £12,368.8.11d.
1936 it seemed clear to the General
First Division Managers that both chartering rates The year opened inauspiciously with and the cost of new tonnage North China in the grip of an abnor-likely to rise considerably in the near mal winter. An almost impassable future, and that the time had arriv-Queen's Park barrier of ice lay in the Gulf of Pe-ed to implement a part of the Com- Clyde chili from Tongku across to Chefoo pany's building programme: from January until March and a num- ber of ships, including some of our During November an order for two own, sustained considerable damage to coasters of the "Taksang" type and rudders and propellers whilst trading one small winter Upper River steamer in that area. An inevitable result of was placed with the Hong Kong and As in the
Leslie the frozen state of rivers and harbours Whampoa Dock Co., Ltd.
The British actor, Mr. was delay, and the shipping companies case of the "Taksang," we negotiated Howard, was revealed one of the whose vessels were caught by ice must a loan with the Hong Kong and
three highest-paid stars employed. be very grateful to the Inspector-Gen- Shanghai Banking Corporation eral of Customs for remitting tonnage whom we shall mortgage certain ships by Warner Brothers during the past dues during that period of forced in- as security. It will be appreciated year in a report. action. The Port Authorities at Tien- that very large sums of money will
He received £37,000, compared tsin were able to provide sufficient be required for new tonnage Or to with £45,000 paid to Miss Kay ice-breakers to keep the river open, create Building and other reserves in and although it has been ruled
Francis and £40,000 paid to Mr. Joe
ABNORMAL WINTER
that cash.
NEW SHIPS
were Hamilton
to
1 Rangers
5
5
3 Albion Rovers 3 0 Aberdeen
Reuter.
LESLIE HOWARD'S £37,000 A YEAR
• there would be no justification for! I am glad to be able to tell you that Brown, the comedian. making provision against ice condi- the two new "Taksangs" and the Up- Mr. Nicholas Schenck, as ́presi- tions that obtain only once in 25 years, per River ship are cheap indeed when dent of Loew's Films, received it should not be overlooked that the viewed in the light of to-day's prices £62,000.
closing of the sea route to Tientsin and the original "Taksang” is, of would aggravate the grave smuggling problems of North China. Trade was
course, a better bargain still.
brisk after the thaw but later settled wise man buys on a rising market
It is difficult to fix a point but the
down to a more normal volume.
which brought the South-western pro- During the lean years we have pass- vinces under Nanking's control. I feeled through, when this Company fail- that this outstanding achievement will ed not only to make its depreciation
to
STOP PRESS
TEL. 20022 33993
BRILLIANT PLAY
IN AMATEUR BILLIARDS
New Champion Makes
549 Break
In the South, business remained perhaps our best justification for act remains a debit of £12,368.8.11d, which quiet during the first few months of ing when we did last autumn is China it is proposed to carry forward
Those of us who live out the year 1937. the year, and ships were actually with- herself.
Special Repairs and Renewals AC- drawn from long established trades here can look with admiration at the
Kai-count has been decreased by £10,208.- but in July an event occurred which great things Marshal Chiang
London, To-day. to gave trade generally in China tremen-shek and his Ministers have achieved, 19.08. due chiefly to ice damage
has been made Kingsley Kennerley, a 28-year- dous impetus that political unity things that seemed impossible a few which reference achieved by the Central Government short years ago.
already, and now stands at £3,172.18.04. old engineer from Birmingham, last
DEBT TO MANAGERS
night won the final of the English Sundry creditors in China and Lon- don now, stand at £216,852.14.5d. as Amateur Billiards Championship at The Burroughes Hall, London, when he against £234,363.4.3d. last year. as
balance due to the General Managers defeated the holder, Joe Thompson to (Workington) by 4,703 points has increased from £87,086.1.14. £128,826.15.5d. but our Sterling Loan Account with the Hong Kong and 3,633. Shanghai Banking Corporation. Kennerley's aggregate is a record boom entails trouble of another sort. amounting to £82.165.17.5d. has been in the competition.
paid off. The contingent liability for In the penultimate session, Ken- cumulative preferred dividends for 11 nerley made a new world amateur
me.
have far reaching effects on the fu- but incurred heavy cash losses ture welfare of China.
well, and with all borrowing power ADVANCE IN RATES
fully mortgaged, it would have been During the latter half of 1936 all unwise to attempt to launch out on an extensive constructional program- our vessels on the Coast were Well
Yet to build at the height of a filled, and steps were taken by.. the various Lines with whom we are aвSO- ciated to advance rates of freight as fast as was practicable.. Unfortunate- Iv. progress is likely to be slow and difficult when it comes to revising tariffs.
'THE ACCOUNTS
The Directors have again waived their fees amounting to £1,500 per annum and this money will not be held in suspense.
years amounts to £163,648.14.0dt
to
of 549, beating the
461.
I now propose the following Re-record break solution:That the Report and State- previous mark of ment of Accounts as presented bo Earlier in the adopted and that the debit balance beat the British of £12,368.8.11d. be carried to next with 305. Reuter.
Mr. M. H. Lo seconded and the re-
final, Kennerley amateur record
On the River haboier conditions' pre- Dealing with the Statement of Ac- vailed throughout the year against the counts, the items debited to Revenue background of an abundant harvest. amount to £83,621.14.8d. as follows, In my speech last year I referred to General Charges $6,422.6.6d., Deprecia- year." the need of agrarian reform in Chination £57,746.9.8d., Floating Staff Pen-
Li Nam, 56, was admitted to the and nore seeing the repopulated farms sions £10,841.13.9d., Interest £8,611.- port was carried unanimously. *
Mr. A. Murdoch proposed and Mr. G.C.H, suffering from injuries re- in the Yaretsza Valley could possibly 4.9d... doubt the inestimable benefits such a Items credited to Revenue. Account Dulley seconded the re-election of Mr.ceived when he was knocked down
include M. T. Johnson and Mr. S. T. William- measure would bring to the whole amount to $71,253.5.9d. and -country. As another indication of the balance brought forward from 1936 son as Directors, and Mr. John Flem by a lorry in Lyndhurst Terrace
attled conditions prevailing along the £1,321.17.1d. Gainon Working of ing and Mr. A. Ritchie were reappoint- yesterday afternoon, Yangtsze.. armed guards on British Steamers £62,539.8.4d., Transfer Fees ed Auditors of the Company at a re- ships were withdrawn in July last £32.14.00, and Exchange Adjustment muneration of $6,000. These anards have been carried off and £7,359,11.4d. The only item calling on for the past 8. venre, and their fur- for comment is Exchange Adjustment. The Hon. Mr. J. J. Paterson (Chair- ther use is now considered quite unne- This is due to Assets and Liabilities man,) Sir Robert Ho Tung Mr. M. T. O'Brien Road yesterday. She had are as always very being converted at the closing rate on Johnson, Mr. S. T. Williamson (Direc apparently drunk a quantity of grateful to His Majesty's navalar the last day of the year 1/2 com- tors), Mr. C. T. Tod (Shipping Man Lysol. military authorities for their invaluable pared with the closing rate for 1935 ager), Mr. R. A. Wadeson (Solicitor), assistance.
cessary We
The following attended:
1/8%. Also a gain in exchange on Mr. John Fleming (Auditor) and the
An unknown woman was found in an unconscious condition
in
U should like to remark here that a remittances to meet our Sterling liabi- following shareholders:-Messrs. M. Printed and Published for the Pro- great deal has been said in the Press litles, the rates obtained during the H. Lo, W. E. Kirby, N. L. H. Rail-prietors, The Newspaper Enterprise of late about competition in the trades year being more favourable than the ton, A. M. da Silva, A. Murdoch, W. Ltd., by Gordon Cade Burnett, at 8A. H. Dulley, Chan Wing, Chiu Siu Nam Wyndham Street, Victoria, Hong between India and the Far East closing rate of 31st December, 1986.
After allowing for the above, there and A. C. Wilcox.
Kong where our Company was one of the