THE CHINA MAIL, APRIL 12, 1937.
UNECONOMIC COMPETITION ON THE RIVER
STEAMBOAT COMPANY'S HEAVY LOSS LAST YEAR
BRIGHTER PROSPECTS
That the heavy loss suffered by the Hong Kong, Canton and Macao Steamboat Company was incurred during the first six months of the financial year and that the Company's boats held their own thereafter, was announced by the Hon. Mr. M. K. Lo, presiding this morning at the annual meeting of shareholders of the Company.
Prospects for the future, it was indicated, are brighter than they have been for some time past,
The chairman said:
.....
The serious decline in the Chinese Currency in June and August caused much loss to the steamers' takings.
vice from Canton was inaugurated, and
On the 1st June, 1936, the night ser- to the Customs Authorities the Com- Gentlemen: Before we proceed with
assistance which the formal business, I would like to Pany must record its appreciation of the
a co-operation and say how much the Directors regret made possible the success of the in- that they have to record the death,novation. The new
readily service which, occurred on 14th August, 1936, found favour with the public, and it of Mr. C. A. da Roza The late Mr. was not long before the lead set by da Roza was a Director of this Com-us was followed by our competitors. pany since 1930, and throughout this. period took a deep interest in the Com- affairs of the Company. The pany sustained a great loss by his untimely death.
FUND TRANSFER
The loss for the year is $139,190.33, which has been transferred to Profit
SUBSIDIES WITHDRAWN
May Disarmament Conference
London, To-day.
Mr. Norman Davis, the Unit- ed States “Ambassador-at- Large," will attend the forth- coming meeting of the Disarma- ment Conference at Geneva on May 6, says the "Sunday Times." -Trans-Ocean.
FORMER PALACE OF ENGLISH KINGS
Clarendon Discoveries
INAZI BID
Page
TO RAISE
BIRTH-RATE
Legal Changes Likely
new
Special provisions in the German penal code designed to encourage a higher birth-rate, are foreshadowed in reports published by the official commission for reform of criminal law.
the
The birth-rate in Germany last year was 19.1 per 1,000, compared. with 14.3 per 1,000 in Britain.
The changes are expected to in- clude:
Severe penalties... for adultery, abortion and the advocation family limitation
Greater tolerance for illegitimacy, provided. Nazi racial principles are respected.
The commission recommends that "publicly bringing contempt, upon Whether
The plan and decor of Clarendon marriage or maternity, Palace, built by the Norman Kings, legitimate or illegitimate,” should and later the playground of the be made an offence, punishable by It is emphasised, Plantagenets, are emerging as ex-imprisonment.
that illegitimate children. During the year certain subsidies cavations proceed in a little wood however were paid to the Company's steamers, near Salisbury. Dr. Tancred Bore of uncertain parentage are racially both on the Canton and Macao lines, nius and Mr. John Charlton, in a undesirable. but subsequently the Company suffer-
site.
and Loss Account, bringing the debit, in question wère withdrawn as a re-season of excavations on # Zourth
a
of that account, after deducting transfer of $361,145.69- from the In- vestment Fluctuation Account and the profit on sale of the steamers “Lung- shan" and "Sui An" during the year amounting to $39,412.65, to $236,134 97. Subject to your approval, we re- commend that this amount be carri- ed forward to a new account-
count.
SURPLUS TONNAGE.
sult thereof.
creases.
SHANGHAI SALE
But-
in-
maximum
the
Four Children As Minimum ed by the advent of further surplus lecture before the Royal Society of
The subsidies Antiquarians reported on the tonnage on the River.
Stringent measures are proposed Part of last year's work was de to safeguard racial purity. The Our agreement with Messrs. terfield and Swire, having expired, it voted to the uncovering of the clois commission declares that an offence it has been renewed for a further ter around which the kitchens and has already been committed if a
domestic buildings ·were Pool other
German and a Jew dance together Freight The Canton period.
grouped. Many fragments of ela in public. Agreement has also been renewed.
Your Directors have been unremit borately decorated 14th century pit- Once marriage has been conclud-
efforts
the ting in their
towards
chers were discovered in the cen-ed the partners must endeavour to economical running of your steamers.
tral courtyard.
produce as many
children as pos- Cost of coal, oils and other stores was, It may be explained that the sum however, much higher in 1936 that in "We have thrown a light on the gible. A minimum of four is toler- of $361,145.69 which it is proposed to the previous year, and steamers dis-madness of Henry VI. in 1453,"ated, but for more are desired by
Fluc transfer from the Investment
bursements consequently showed
Dr. Borenius said. "During his the Nazi authorities. tnation Account, represents part of a
Adultery, it is foreshadowed, will fund which your Directors consider available for writing off a portion of The amount of $37,890.07, that it is period of madness the King was shut
the up for four months in the solitude be placed in a new category, as an proposed should be written off the deficit in the Profit and Loss Ac value of your steamers, represents the of Clarendon. We have discovered offence against a State institution-
When I addressed you last year I usual five per cent of their book value. brick kitchens built near the Royal that of marriage rather than as a The negotiations with the Chinese suite--no doubt because it was co-wrong done to one of the partners- commented upon the unsatisfactory Authorities for the registration of the position of the River trade. I ex-Company's properties in Canton have sidered unsuitable for a mad king As the law now stands the in- pressed the hope, however, that the at last been concluded. We have reto dine in state in the great hall,” jured party can take action against Company's affairs might show some ceived the new title deeds but the A remarkable circular tile floor, the guilty party and improvement during 1936. I am sorry official certificates of registration in some 14ft in diameter and bearing sentence of six months' imprison- to say that this hope was not realiz
a Latin inscription has been recon- ment may be i
imposed. Such pro- ed and such improvement as in fact respect thereof will not be available
for a few months.
structed from a mass of tiles which secutions are, however, very rare. occurred took place only during the second half of the year under 'review.
crashed from the private chapel of When the law is changed the pub- Henry III, on the first floor into lic prosecutor will be entitled to Towards the end of the year your the Antioch Chamber below when bring a charge against the adulter
trade conditions on the River for that Shanghai to purchase the ss. “Lung Dr. Borenius states that while there or herself liable to imprisonment
Dealing with the first half of 1936, Directors received a fair offer from that part of the Palace collapsed-ous partner, who will find himself". earlier period were anything but satis-shan” and s.s. 'Sui An.” As the pros-exists no parallel to this type of for a maximum of ten years. No factory. Indeed, the outlook at one pects of the steamers being recom- time wag one of unrelieved gloom. missioned appeared remote at the time, floor in England, it closely resem: distinction is to be made in Freight returns were at their lowest your Directors, after careful con-bles a floor in the church of Cunault penalty inflicted upon husbanda, sugar cargo, on account of a change sideration, decided to accept the offer, in Anjou, the cradle of the Planta wives or co-respondents. of governmental policy, had vanish and the steamers
accordingly genet dynasty.
Excavations will be continued on Squandering Of Property Smuggling showed no sign of abate-
the site in August.
In cases where imprisonment Competition for ment, and the usual toll was exact- the transportation of rice cargoes beed from the Company's revenue.
would break up a marriage which tween the River steamers and native devising of suitable measures to curb
might otherwise continue and be junks became intensified."
the activities of the smugglers con reduced commission and fees in Owing to the surplus tonnage operat-tinued to exercise the minds of your der to help the Company tide over the fruitful, it is left to the discretion
The seriousness of the difficult times through which we have of the judge to remit the penalty. ing on the River at competitive rates, Directors. the understanding reached with the problem will be better understood passed.
Another new principle is likely With these remarks I beg to pro- Railway Administration, designed to when it is explained that smugglers prevent uneconomic passage rates, on to-day possess unlimited resources at pose that the Report and Accounts as to be introduced by a provision de- which I reported last year, could not their disposal with which to tempt and presented be adopted. After this has creeing imprisonment for any man to who refuses aid to a woman, whose be maintained. Passenger returns ac-secure services for their clandestine been seconded, I shall endeavour cordingly received a severe setback ends. We can only hope that this fact answer, to the best of my ability, any pregnancy he has caused, whether and, as a result, your Directors, after will be increasingly appreciated and questions you may wish to ask. careful deliberation decided to give acted upon by the proper Authorities. Mr. Hung Taze Kwong seconded and she is married to him or not. Such up the day service from 1st July, 1936. At this stage of the Company's fin- the reports and accounts were adopted, aid need not
in the case The loss in respect of the period ancial year it may not be wise to in-
of un-married mothers, also consist 1st January to 20th June, 1936, dulge in any prophecy. We are still
of "spiritual comfort." amounted to $146,07943, and it was beset by irresponsible and uneconomic
Mr. Li Tse: Fong and Mr. J. found necessary to real the invest-competition. There is, however, a feel-
The disposal or squandering ...... of ments then held by the Company: ing of optimism în the air; the out-Braga“-were-re-elected to the Board
Look to day is brighter than it has of Directors on the proposal of Capt. family property in such a way as TURN IN TIDE
been for some time past. This is, at Kirby, seconded by Mr. W. K. Kwan to endanger the livelihood of So much for the first half-year. any rate, something to be thankful and Messrs, Linstead, and Davis and husband, wife or child is also
Messrs. Lowe, Bingham and Matthews. become an offence for which sen- Coming now to the second half,
were re-elected auditors: on thǝ pro turn in the tide of the Company's
posal of Mr. Wei Tat, seconded by tence up to two years' imprisonment affairs, manifested itself. Passenger
may be passed. ...UIKA returns showed improvement, and by I feel that I should not conclude Mr. L. B. Wood. Autumn the freight business looked this address without a word of aps The following attended:Hon. Mr. promising.___ Despite the considerable preciation of the. services of the staff, M. K. Lo (Chairman), Mr. Li Tek leeway which the Company had to both floating and ashore, for their will- Fong, Mr. J. P. Brage, O.B.E., MD 20 make up to reach a paying basis, it ing and whole-hearted co-operation in L. B. Wood, Mr. Tung-Fan Lo (Direc- To encourage entries from Europe, is pleasing for me to be able to re- accepting the salary reduction effect-tors), Mr. H. da Luz (Secretary) and the American Power Boat Association port that such a task was sccomplished last September. To Sir Robert Ho the following shareholders Mr. has approved an alteration in the rules Taze governing the Gold Cup Race by which, ed. The Company managed to hold Tung and the Company's Canton Kwan Yau Kwong, Mr. Hung its own for the remaining months of Agents the Directors are also indebted Yee, Mr. Wei Tat, Capt. W, E. Kirby if the driver wishes, 160 lb. of ballast may be carried instead of a mechanic. the year.
for their voluntary offer to accept and Mr. M. H. Ld.
▾
ed. Cement and fertilizer shipments, sold. for economic reasons, had been con- siderably curtailed.
for.
were
STAFF LOYALTY
The
OTHER BUSINESS
or
J
Memang maaarily be mate-
rial, but may,
to