Thousands
Acclaim It One of the Great Motion Pictures Of All Time!
RONALD COLMAN
In KIPLING'S
The Light that Failed
With WALTER HUSTON
Dudley Digges • Ida Lupino Muriel Angelus • Ernest Cassarf
A Paramount Picture DOORS OPEN
9:30 A. M.
SHOWING TO-MORROW
At the QUEEN'S & ALHAMBRA
SOLID SILVER
CHRISTENING GIFTS
Porringers, Mugs, Spoons, Napkin Rings, Rattles, Etc.
GEORGE FALCONER & CO., LTD.
PEDDER STREET.
TELEPHONE 22148.
THE CHINA MAIL, APRIL 25, 1940
STEAMBOAT CO. MEETING
H.K. RIVER SHIPPING DIFFICULTIES
THE WAR IN CHINA AND cut-throat competition from firms which, in the words of a shareholder, could not be considered "legitimate trading interests," combined, with certain other relevant factors, to give. the Hong Kong, Canton and Macao Steamboat Co., Ltd., a net loss for the year of $173,985.04, it was revealed at the annual meeting at noon to-day.
Mr. M. K. Lo was in tile chair, sup-boats through shallow creeks, Later ported by Messrs. Ll Tse-fong, J. P. the situation improved. Braga, L. B. Wood, D. L. Newbigging and Tung Fan Lo, directors, and Mr. H. da Luz, secretary.
The chairman said:
In concluding my speech at the an- nual general meeting held last. year I remarked:
With an apprehensive business community in the interior, and with communication facilities being sub- jected to intermittent interruptions, competition for the meagre offerings continued until June, when the Chin- ese currency began to depreciate. Freight returns reflected the uncer- tainty of the moment, and with the cholera restrictions being enforced in the Colony, river shipping companies were faced with insuperable difficul- ties. The company's Taishan . Was taken off the line for about two weeks as a result.
I feel that I should again convey to you a note of warning concern ing prospects in the immediate fu- ture. We have benefited from the abnormal conditions which prevail- ed most of last year. For that we must be thankful.. But he must be a bold person who, without an utter disregard of the portent of
In September an effort was made to the dark clouds gathering ahead of remedy, what appeared to be a de- him, would dare view the immesperate situation, and to end the sen- diate future with any degree of complacency or with optimism.
It is with keen regret that I have to confess that the result of last year's trading was even worse than my gloomy forebodings had led me to expect, accounting for, a loss for the year, after providing for depreciation of steamers at the usual rate, repairs, etc., of $173,985.04. This loss has been transferred to profit and loss account, thus reducing the credit of that ac- count to the sum of $31,739.59, which your directors recommend be carried forward to a new account.
ALLSOPP'S
"
TRADE
Be
PILSENER BEER
BRITISH
ON THE
MARK
100% BRITISH
Brewed in Britain
By Britons
Be British
Buy British
CALDBECK, MACGREGOR & CO., LTD.
Apart from a short period during September, when company's steamers carried full number of passengers from Hong Kong to Macao, the com- pany has had to face adverse trading conditions through the year.
In the Canton line negotiations with the authorities concerned result- ed in the Kinshan being permitted a passenger service between the two ports. Subsequently, in agreement with the China Navigation Co. Ltd., the Fatshan took over the run, thus permitting the Kinshan to resume un- interrupted service in the Macao line.
I
wish to record the grateful ap preciation of this company to H.B.M. Consul General in Canton for his valuable services in connection with the negotiations above referred to.
LITTLE INDUCEMENT
SENSELESS COMPETITION
seless competition among river, ship- ping companies. An agreement was reached, but I am sorry to say that that agreement was broken within two weeks of its inception. Further comments seem superfluous.
The Sul Tai was sold to Yangtsze interests in July. The sale was not unprofitable. In fact, the Sui Tal had outlived her usefulness to the
pany.
com-
In June, the directors decided to proceed with the reconditioning of the Lee Hong, purchased in 1938, and to rename her Chungshan.
of
In October, after the outbreak war in Europe, certain regulations concerning the movements of steam- ers were put in force by Government. Amongst these was the closing of the Cap Si Mun Pass to river steamers. the Lamina The new passage via Channel means a much longer journey for the steamers, and exposure to inclement weather.
It is with sincere regret that I re- cord here to-day the death in Decem- ber last year of the late Mr. Walter Hung, the manager of the company's succeeded his father, the Chinese department. Mr. Hung had late Mr. Hung Taze Yee, and had been in the years. company's service for seven He served the company with ability -and-devotion.
been replaced by the Chungshan in The company's Taishan has just
the Macao Line service. Cost of opera- tion has advanced to the stage where your directors consider it inadvisable to keep the Taishan in commission, though they hope that the lay-up of the steamer will only be temporary.
RIVER COMBINE?
With Canton being virtually closed, the company's activities, had to be re- stricted to the Hong Kong-Macão run. At best this line offers but little in- ducement to tonnage larger than that of the smaller type of river steamers, Before the occupation of Kongmoon- which replaced Canton as the trad- ing centre of the Kwangtung Pro-
As I ventured to remark to you last vince at the beginning of the year- and some of the surrounding districts, year, "unless it is generally recognis- returns by company's steamers were ed and appreciated that adventuring more or less satisfactory. Kongmoon in the river trade can prove to be fell in March, thus severing the re-costly, I fear, that we must continue maining link between Hong Kong to expect the worst." I am happy and the Interior via Macao. Com- to say that from various indications it munication with the surrounding dis-would seem that the truism that cut-
(Continued on Page 16) tricts was then maintained by small
SATURDAY NIGHT
DINE-WINE
AT
AND DANCE
Chantecler
CHANTECLER SWING DUO
EXTENSION TILL 2 A.M.
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