THE CHINA MAIL, APRIL 26, 1939.
SHARP SPEECH ON SEIZURE OF SAGRES
Virtually An Act Of Armed Piracy
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agree with me when I submit that, in Lall professions we have two types of men; the one who simply does just what he's got to do and the other who en-. thuses interest into his allotted task. So it is with the Merchant Service; we have the man who more or less gots around in the ship and the other that
takes an interest in getting the ship British shipping companies operating would realise the implication of that
around. If the managements of more
to-day on China's coast and rivers
economic necessity, As men of the world I know there is no need for
me to indicate to the General Manag to is the man worth encouraging, but
ers which of the types I have referred
"This further unwarranted action against British property (seizure of the Sagres) simply amounts to armed piracy, though such refer-
towards point and act accordingly ences may conflict with diplomatic niceties.
those to whom they entrust their ships, "It would appear desirable that the Japanese Gov-lives and cargo, then I am certain that a position which I have frequently ex- ernment be reminded that the waters of this perienced and whereby officers will ac- Colony
through sheer are available to their merchant ton- cept service in some Companies only nage without let or hindrance and inform-would no longer obtain. ed in no hesitant or appeasing terms that this continued interference with British merchant shipping will no longer be tolerated." These
a, and Investments stand at the market were passages in sharp speech by Mr. W. E. Kirby, rate as at 31st December 1938.
It will be noted that the interest and Secretary of the China Coast
dividends on Investments are shown at Officers' Guild, at the annual $16,931.00-actually the amount is a meeting this morning of share- good deal higher, but in order to con- holders of the Douglas Company. form with modern practice we are de parting from our previous method of Mr. S. T.. Williamson was in the
anticipating dividends on Investments chair and the following members of it now means that only dividends re- the consulting Committee were pre-ecived during the currency of our fin- sent, Sir Robert Ho Tung, Messrs. II.ancial year will be shown in the Bal- V. Wilkinson, H, J. Armstrong and C.
ance Sheet in future. L. Farmer (Secretary).
At the last Annual Meeting, refer- Shareholders present were Messrs.
ence was made to the proposed form T. Ramsey, J. F. Wright Jr., W. Eulation of a Benefit Fund for our Float- Kirby, A. H. Potts, N. V. A. Croucher, Hon Yau-lam, C. B. Brown, Captain 0. H. Farrar O.B.E. and Captain W. B.
Patey.
The Chairman said: After paying all Running Expenses, Docking Charges, Insurance Premia and all Allowances, writing off Depreciation and transfer- ring $275,000 to General Reserve, the sum available for distribution is $426, 932 which includes $118,364.10 brought into the Account from last year.
BONUS DIVIDEND
Your Consulting Committee and Gen- eral Managers propose to appropriate this sum as follows:-To Pay a Divi- dend of 10% ($5. per share)-$100,000 To Pay a Bonus of 10% ($6. per share) -$100,000; To Carry Forward to Next Account $226,932.76.
While being pleased to be able to present such a favourable report for the year ending 31st. December, 1938, this, as you will doubtless appreciate has been largely due to the abnormal conditions prevailing on the Coast, and unfortunately there is no assurance that these conditions will continue-in saying this I do not mean to be pessim- istic nor do I intend to try and fore cast the future which is much too ob- scure and all we can do is to hope for the best.
01
ing Staff, Provident or otherwise, and also regarding a Bonus payment 10% on Salaries to be paid to Certi- ficated ranks with unbroken service during the year 1937.
PROVIDENT FUND
the nature and conservative outlook of the average British seaman is such that he places far more value on the proverbial ounce of practical_encour- agement as against a ream of eulogy. The getting of a ship around the China
we know under the circumstances as
no sinecure and I them, is certainly would cordially thank the General Managers for this provision they have now made for the Floating Staff.
and
WELL!
WELL!! WELL!!!
The Chinese press this morning reports that "according to an un- impeachable source, three Ja- panese freighters, conveying gaso- lene and aeroplanes from Mexico to Japan, were sunk by a strange submarine in the Pacific”.
Military
Service
coast and adjacent ports to-day Bill
SAGRES INCIDENT
to
We are naturally very relieved hear of the safe return of the master and crew of the Company's chartered B.8. "Sagres" after their trying exper- ience.
Coming
London, To-day.
A MEASURE of con-
scription is now re-
Reuter understands that the Cabinet agreed in principle on Monday night, and a two-hour Cabinet meeting yesterday was devoted to consideration of speci- fic proposals to be put before Parliament.
solves the Japanese Navy from the ser-
This aspect, however, in no way ab-garded as certain. ious responsibility of illegally and for- cibly seizing and detaining a British Your Consulting Committee General Managers now intend to fulfil understand, were absolutely in order.
and coastal steamer, the papers of which, 1 their promise and have prepared a Pro- It would appear desirable that the vident Fund Scheme which, if the amount is approved
Japanese Government be reminded that at this Meeting the waters of this Colony have been will be implemented immediately.
and are available to their merchant tonnage without let or hindrance and that every facility is, as it should be in that connection, extended to them, This in direct contrast to the action of that Government in not only forcibly now but also in subjecting her officers and
ratings to an inquisitorial questioning, provide the necessary powers for In general, this further unwarranted the particularly form of compul- action against British property sim sory service which is eventually ply amounts to armed piracy, although to be decided upon. such reference may conflict with diplo- matic nicoties.
this
Announcement will be made in the House of Commons at the earliest possible moment, and it is expected that a Bill will be intro-
The Scheme consists of inaugurating a Provident Fund, the principle of which is, that in initial starting grant will be made to the Fund by the Com-seizing and detaining the "Sagres" duced as speedily as possible to pany for each certificated Officer serving on our vessels with service prior to December, 1936-the sum plac- ed to the credit of each Member of the Provident Fund to be based on his length of service with the Company as
The Cabinet will hold the or- at December, 1936, plus the 10% Bonus granted for the year 1937. The total But in view of the fact that dinary weekly meeting to-day. sum necessary to start the Fund is latest outrage is only one of many re- It is understood that the age $97,701, which may appear a consi- cently on the China coast where Bri-
group contemplated as the first derable sum, but your Consulting Com- tish shipping is concerned, it would
the Government's con- mittee and General Managers consider seem full time that His Majesty's Gov-step in it reasonable and desirable to provide ernment informed the Imperial Jn- scription plans is from 18 to 20. for the future of those who have serv-panese Government in no hesitant or cd us faithfully and loyally in the past. appeasing terms that this continued in-1 The Scheme will thereafter continue on terference with British merchant ship- the usual basis of the Employee and ping pursuing its lawful occasions is Employer making monthly contribu- not only a hostile gesture towards a tions to the Fund.
nation with whom normal relations ex- ist but it is also an unjustifiable policy which will not longer be tolerated.
LIMIT REACHED
The Fleet value stands at a very cou- servative figure, and we now have n reasonable reserve Fund in hand to
I trust this proposal will meet with meet any unforseen contingencies.
your approval as the Company is I During the first half of the year un-consider now in a position to take this der review the Coastal Business was stop in order to safeguard the inter- exceptionally good, but the latter half ests of our Employees, many of whom of the year showed quite a reduction have served the Company for long in the ordinary merchant business on periods. the Coast, principally due to uncertain trading, and to the exchange position which fluctuated widely between 105 and 195-this of course is also reflect- ed in our Coast Port earnings, there have also been serious restrictions be- tween our various Ports regarding the carriage of Deck Passengers.
The "Seistan" purchase referred to by the Chairman at the last, Meeting has proved to be well justified.
I beg to propose that the Report and Accounts as submitted be adopted and passed.
The report and statement of accounts was seconded by Mr. J. R. Wright Jr., and, carried.
$
MR. KIRBY'S SPEECH
Mr. W, E. Kirby said:
After perusal of the Company's Ac- Due to the position at Amoy and counts for the past year I feel it in Foochow we had to extend our activi-cumbent on me to first compliment all ties further North and found it neces-concerned on the creditable showing. sary to charter the a.s. "Sagres" in or accomplished, as it has again been, der to maintain our regular sailings. over a period of uncertainty and con-
tinuous strain.
SAGRES INCIDENT
I regret having to report a serious incident which has arisen this month in the unjustifiable seizure of the "Sagrea" by the Japanese Navy as re- ported in this morning's press,
Although this incident did not take place during the year under review; it la mentioned at this Meeting owing to its grave nature and in order to keep Shareholders advised as to the actual position.
-Reuter.
NEW SCHEME
TO BOOST
Until some such definite line of ac-
ment there is not the slightest douht but that interference with British shin- ping on the China coast at the hands of the Japanese Navy, will continue.
Washington, To-day. While patience and restraint may be Representative Fulmer has in- admirable qualities there is a limit and troduced in the House a Bill to I submit in all seriousness that the increase cotton consumption by
taxing pulp, products not taining a fixed percentage of cot- ton fibre.
tion is taken by His Majesty's Govern- COTTON SALES
limit has now been reached.
Sir Robert Ho Tung and Mr. H. V. Wilkinson were re-elected to the Con- Bulting Committee and Messrs. Lin- stead and Davis and Lowe Bingham and Matthews were re-elected auditors for the ensuing year at a remuneration of $1,000 each.
con-
The tax would apply to newsprint and paperboard containing less than five per cent, cotton fibre, other paper containing less than 10 per cent, and rayon cellophane and plas-
Secondly, I would thank the Gener DEFENCES OF tie containing less than 15 per
GIBRALTAR
al Managers for the different items of information tendered by the Chairman in his address and, mindful of certain submissions I made at the last Annual Meeting I am particularly glad to hear
London, To-day. of the inception of a Provident Fund
Defences of Gibraltar, particular for the Floating Staff. It is indeed a practical gesture by the General Man-ly in air protection, were described agers which I am sure will be much as satisfactory by the Secretary for appreciated by the Staff and one which War, Mr. Hore-Belisha, in the will have its resultant reaction in the House of Commons yesterday after
noon. not
-- Our Investments”- hava appreciated | inspiring of a greater feeling of confi-
in väine since Dacambar.
nit thik "dence: between both sides; "I do “appreciation is an
I think the General Managers will dis-
He added that more anti-aircraft
cent.
}
Surplus cotton would be made available to pulp processors at. six cents a Ib. with the Government absorbing the loss. Reuter.
guns had been sent to Gibalfar since September and all necessary precautionary measures have been taken --Trans-Ocean.