ODAYS
10 DAYS
5 DAYS
GoEMPRESS to America. Europe
Yan
hama Honolulu conver
Hong Shang- Naga
saki hai Empress Kong
of
Leave Leave Artire
Yoko
Kobe
Leave
Leave
Leave
Victoria Arrive
Apr 6 Apr. 8 Apr. 14 Apr. 21 Apr. 23 May May 6 May 13
Apr. 19
Japan Apr. 1 Apr. 3 Asia Apr. 15 Apr. 17 Apr. 19 Canada Apr. 29 May 1
THE CHINA MAIL, MARCH 22, 1938
BIG RISE IN
WATSON'S
H.K. BUSINESS
RED CROSS WORK
IN SPAIN
The Prime Minister informed the Commons at question time that the Government had already made ma
Although their Hong Kong contribution to the International Red figures, due to the fact that the Cross Society for the provision of stable exchange had operated in medical and other forms of relief in their favour, had been most gra- Spain and were considering the de- tifying, some disappointment was sirability of making a further con- expressed at the loss of Cantontribution British Wireless. business owing to the outbreak of hostilities, at the annual meeting of Messrs. A. S. Watson and Com-
pany, held this morning in the Jacobean Room of the Hong Kong Hotel.
LOCAL DOLLAR
The demand rate on the Hong Mr. D. E. Clark, chairman, Kong dollar this morning was said:
1/2-13/16.
Profit on trading for the year under "Spot" silver was quoted in Lon- review, viz. $139,313.12, whilst show don yesterday at 20-7/16 and May 2
ing an appreciable increase over the
forward at 20. May 18 past few years, is however much less
The London on New York rate. than we had reason to anticipate as remittances from our Canton Branch was quoted at US$4.9593 and up to the beginning of August last the New York on London rate at showed marked improvement and gave
|_ U.S.$4.961⁄2- every indication that this particular account would compensate to some ex- tent for the indifferent results exper- ienced in the past. However, the sud-
17 Days HONG KONG to VANCOUVER By DIRECT EXPRESS ROUTE FROM YOKOHAMA 18 DAYS VIA HONOLULU, PARADISE OF THE PACIFIC
Air-conditioned equipment on C.P.B. Trans-Continental Trains. Frequent Canadian Pacific Atlantic sailings to European ports.
TO MANILA
Empress of Japan on Friday, March 25th.
AT 6 P.M.
Canadian Pacific
Union Building
SPANS THE WORLD
Triestina
Lloyd
Telephone -20752
FORTNIGHTLY EXPRESS
SERVICES
FAR EAST INDIA ITALY
Hong Kong London-3 days
Hong Kong Italy
21 days
SCHEDULE OF SAILING FROM HONG KONG
TO SINGAPORE, COLOMBO, BOMBAY, EGYPT & ITALY
B. "Conte Rosso”
M.Y. "Victoria”
2. "Conte Verde”
s.s. “C. Biancamano”.
ss. "Conte Rosso”
3rd Ap
TO SHANGHAI
8.8. "Conte Rosso" ILY. "Victoria"
17th Apr as. "Coate Verde"
8th Mays. "C. Biancamano” 22nd May Is.s. "Conte Rosso”
4th June my. “Victoria”
LLOYD TRIESTINO
P.O. Boz 143. Tel. Addr. “Lloydiano”—Telephone Nos.
den and unexpected outbreak of hostil SINGAPORE RAW
ities, coming as it did while our. Aer ated Water. season was still at its height, brought Canton trade in gen eral almost to a complete standstill fand, consequently, I regret on this ac- count to state that an adverse balance has again to be recorded.
POSSIBLE LOSSES
RUBBER
Messrs. E B. Joseph and
Сот have received the following quota- tions in Straits Currency for Raw
April/June 22-% b. down 14- July/Sept. 22-5 b. down 15 Oct/Dec. 22-7% b. down 4. Market: Duill.
As you will no doubt appreciate, in Rubber- August last a large percentage of Canton Aerated Water bottle stock was. in the hands of our Agents and deal- ers there and, although this, for the most part, was secured by deposits, we have deemed it advisable to make pro- vision in the Accounts now before you for possible losses in this connection. As regards North China, similar pre- cautionary steps have been adopted, ing fined $5 by Mr. H. R. Butters- namely, the writing down to a nomin at the Central Magistracy when he al Sum of certain accounts in that pleaded guilty to leaving his ear area, although the amount involved is unattended, for over two hours, in not of much significance.
Mr. R. A. Rogers was this morn-
From the foregoing remarks it will the Connaught Road Car park. be concluded that
our Hong Kong
business has participated to a gratify-
ing extent in the improved conditions has been made for contingencies like- ruling and no doubt this has partly to arise in the near future and sil been due to the fact that a stable ex must concur that this is sound prac- change has operated in our favour. tice under the circumstances.
IMPROVEMENT CONTINUING
The proposal was carried unanim- I am pleased to inform you that ousty. trade returns covering the first four
OTHER BUSINESS months of the present financial year Mr. J. Scott Harston, the Hon. Sir show a marked improvement in all Shou-son Chow and Mrs. S. I WI- Hong Kong departments as compared Tamson were re-elected directors on. with the corresponding period of the the motion of the chairman, seconded Fear, under review.
by Mr. F. W. Stapleton, while Messrs. Our. Aerated Water machinery and C. Bernard Brown and S. T. Butlin, equipment, both here and in Canton were re-elected auditors on the propos- have been maintained în excellent con-al of Mr. J. A. Tarrant, seconded by dition and, as it has always been the Mr. J. E. Jupp.
policy of your General Managers to The following attended:-M» D. E make ample provision for deterioration Clark, chairman, Mr. S. T. Williamson and replacements, continue to operate and the Hon. Sir Shot-son Chow" (di- to a high degree of efficiency.
rectors), Mr. Wm. Paterson, secretary,
Turning to the Balance Sheet, there and the following shareholders is very little that calls for comment Messrs. N. V. A. Croucher, J. A Tán excepting perhaps the fact that Sun-rant Peter Wong, F. W. Stapleton, dry Debtors and Debit Batances are D. Humphreys, E. Jupp C B. some ninety thousand dollars higher Brown, K. C. Mark, P. C Potts, B. 26th Mar.] than a year ago. Your General Man-Johannessen and Wong Km-tsoi.
these figures close
jagers have given 9th Apr and careful scrutiny and are fully sa 30th Apr. tisfied that the difference shown is en-
tirely attributable to the increased vo 14th May lame of trade. 27th May
10th Jame
G. FALCONER & CO. (HONG KONG LTD.) WATCHMAKERS & JEWELLERS, DIAMOND MERCHANTS, UNION BUILDING (opposite G.P.0.)
Agents for:- ADMIRALTY CHARTS,
ROSS BINOCULARS. TELESCOPES, KELVIN'S NAUTICAL INSTRUMENTS NGLISH SILVERWARE-I
NEW ADVERTISEMENTS
THE INDO-CHINA STEAM NAVIGATION CO., LTD.
$50,000 TO RESERVE The proposals now before you cov ering the payment of a dividend amounting to 5% and the allocation of $50,000 to General Reserve will, I trust, meet with your approval. In recommending such transfer to Gener- al Reserve, it is felt that, whilst the immediate outlook is hopeful, it is a The Fifty-seventh⠀⠀ Ordinary matter of sound policy to pay due re- General Meeting of the Company gard to the prevailing unsettled state
of affairs in this part of the World will be held at the Offices of the and, consequently, to conserve our re-General-- Managers, Messrs. Jar- sources against such contingencies as dine, Matheson & Co., Ltd. Pedder any arise in the future..
Street, Hong Kong, on Thursday,
SECONDER'S SPEECH
Mr. B. Johannessen, said: I have 31st March, 1938, at noon, for the much pleasure in seconding the adop purpose of receiving the Report tion at the Report and Statement of of the Directors, passing the Ac- Accounts, and, whilst so doing, I feel
Shareholders that the Accounts as set
Auditors.
sure that I voice the opinion of all counts, and electing Directors and- forth show very satisfactory results The Transfer Books of the of the year's working.
pany will be closed from the 24th It is regrettable that Canton Branch March to 14th April inclusive. should ag
ellary
the
shown- az adverse
the Chairman's ex- sure you will all agree
this commi
that
By order of the Board,
ARDINE, MATHESON
CO., LTD. General Mans Kong, 11th March,