218
THE DOUGLAS STEAMSHIP CO., LD.
19:h inst.
The twenty-fifth ordinary general meeting of shareholders in the Douglas Steamship Co. Ld. was held at the offices of the Company on the Mr. H. P. White presided, and there were also present Hon. Mr. W. J. Gresson, Messrs. R. Shewan, J. W. C. Bonnar (Consulting Committee), J. E. Gomes (secre- tary), T. F. Hough and Chan King Yue.
The SICRETARY read the notice calling the meeting.
aware
The CHAIRMAN said-Gentlemen: The report and accounts having been in your hands for some days, I propose with your permission to take them as read. It is to be regretted that we are not able to present a more favourable Balance Sheet, bat as most of you are fully of the past year has been one the worst, if not the worst that shipping When I generally has ever experienced. addressed you at our last General Meeting our prospects for the year just passed were not by any means unsatisfactory, and the results of the working of the Company for the first half of the period under review held ont hopes of a fair return on the year's working, Unfortunately, these hopes were not realised for from after the Chinese New Year to the end of our financial year in June-a period which we generally look to as the most lucrative there was a very great falling off in the demand for tonnage to the ports at which the Com. pany's steamers call, and when I mention that during this half year alone the receipts for Freight and Passage were some $40.000 less than those of corresponding period last year; (and $60.000 less for the whole year); you will recognize how great the shrinkage in our trade has been. Even with the moderate has on offering prevailing the “Haimun many occasions had to shut out cargo, 80 that shippers are now chary of shipping off to her for fear of their shipments being refused. In the new steamer "Haiyang" we shall have a first-class boat, thoroughly up-to-date in respect of cargo and passenger requirements, which while having more than double the carrying capacity of the "Haimuu will cost bat little more in running expenses, and we anticipate will prove economical as regards upkeep and docking expenses. During the Company has commanded its year the
full share of cargo and passenger traffic, and continues to retain the confidence of its consti- tuents; and though it is early to forecast the future, I am glad to be able to say that there has been a slight improvement in our particular trade during the last two months, which it is sincerely hoped will continue, for though ship. ping is having a severe set-back it seems not unreasonable to anticipate that it will in time resume its normal condition, as trade recovers and general confidence is restored, though one can hardly look for the Big dividend-bearing years of former days in shipping, with the keen competition that now exists. Gentlemen: I do not think there is anything more that I can add and before proposing the adoption of the report and accounts I shall be pleased to answer any questions to the best of my ability.
""
No questions were asked, and the CHAIRMAN proposed the adoption of the report and accounts as presented.
Mr. HouGH seconded, and the motion was carried unanimously.
The Hon. Mr. W. J. Gresson and Messrs J. W. C. Bonnar and B. Shewan were relented to the consulting committee on the motion of Mr. Hough seconded by the CHAIRMAN,
The CHAIRMAN proposed the re-appointment
of Messrs. A. R. I owe and W. H. Potts as auditors.
Mr. CHAN KING YUE seconded, and the motion was agreed to.
your
The... CHAIRMAN-Thank you for attendance, gentlemen. Dividend warrants will be ready on Monday.
Mrs. Grace R. Mitchell, wife of Mr. G. L. Mitchell, dentist, of Manila, died at the San Lasare Hospital last Monday of Asiatic cholers, Mrs. Mitchell is the second American cholera victim within a week. The third, J. J. Hôb. bins, a stenographer of the police department, was lying in the hospital in a critical condition when the last mail left.
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THE HONGKONG WEEKLY PRESS AND
VICTORIA RECREATION CLUB.
The annual meeting of members of the was held in the Victoria Recreation Club Gymnasium of the V.B.U. on Sept. 23rd. Mr. A. Rodger (president) was in the chair, and there were also present Messrs. M. McIver, E. Humphreys, J. Meek, F. A. Mackintosh, E. M. Hazeland, T. Pearce and M. A. R. Soass (committee), Frank Lammert (secretary), and a very large attendance of members.
The SECRETARY read the notice calling the meeting.
The CHAIRMAN said- Gentlemen, - The
printed report and statement of accounts having been in your possession for several days, I will with your permission adopt the usual custom, and take them as read. I have to crave your indulgence for the delay in convening this meeting, and hope the late date has caused no inconvenience.. The year under review, when we consider the temporary arrangements we had at our disposal and everything upside down on the new site caused by the new buildings going up, could not be expected to give entire satisfaction, but under the circumstances, I think we have reason to congratulate ourselves on getting through as well as we did. The results of the year's working now before you, I am you will consider fairly good, being achieved under trying circumst
ant very fully reported by the spective sub-committees, therefore it seems needless for me to try to give you any informa- tion further than already given. I quite agree with the boat house sub-committees remarks
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regarding the utter impossiblity of the_rowing men getting enough practice. In the first place, there were no suitable boats, and secondly, when we had a few in order, they were shut in with building material which the contractor had to store on the new site, but all these difficulties have been overcome, and I hope with the better accommodation, and more bosts, the rowing members in the future will get a chance and show the same keen interest in rowing which existed in this Club several years ago. The swimming members fared better, although there was a little delay at the commence- ment of the
in getting staging erected. Notwithstanding this, they had good deal of practice in the water, and the whole did very well, especially in the different events at the Aquatic Sports. The V. R. C, team captained by H.A. Lammert, came out on top in the Water Polo Shield Competition, defcating the 87th Company R.G.A. in the final, after playing a very keen and interesting game. The R! G. A. although beaten, undoubtedly made a strong bid for victory and the coveted Shield. little gymnastic work done through no fault of the members, but owing to the lack of accomo. dation, but now that we have a first class gym- n^sium, fully equipped with up-to-date applian- oes, and instructors who know their business, it is up to the young men themselves to take a lively interest in the work, and attend regu- larly for practice. The benefit derived by them will be well worth the time spent in this healthy recreation, and I hope in a short time they will be able to give exhibitions in the gymnasium, which I am sure will be appreciated not only by themselves, but by all the members. Turning now to the accounts, you will observe we have not only wiped out the debit balance of $1363.31 which we started with, but have a credit balance of $831.31. We propose writing off $1072 26 from the value of our asseta This is a slightly larger amount than that shown as actually gained in the year's working, but the difference is more than made up by interest earned during the year on our fixed deposits. The summary account shows the balances transferred from the Bar. Athletic and Aquatic Sports, to be all on the right side, and I am pleased to say the membership has greatly increased. All the above are important items pointing toward our financial prosperity. The annual Aquatic and Athletic Sports were held as usual, the results being very satisfactory from both a sporting and spectator's point of view. I am pleased to say in accordance with our estimates, we will have sufficient funds at our credit to pay all charges as they fall dus connected with the new buildings, including fittings, furniture, electric light installation, and up-to-date physical þulture appliances for
[September 281908.
the gymnasium. I desire on your behalf my own to thank our energetic Hon. Beare Treasurer, Auditors, the members of the various committees, and those gentlemen who assisted us in acting as officials, for their respective valuable services willingly rendered in diferent capacities and occasions, thus helping to pro- mote the best interests of this Club, and the gentlemen who presented prises or subscribed towards the funds of the Aquatic and Athletic Sports, also the Government and Narel Authorities for assisting us to make the most of our new site. Before proposing the adoption of the report and accounts, should any further information be desired, I shall be pleased to give it to the best of my ability.
LIBUT.-COLONEL BROKE—Does not the committee think that the deposit at the bank might be placed in shares in local industries. There is some $8000 or $9000 jon fixed deposit, and we are only getting 24 ́or 4 per cent interest.
The PRESIDENT—I may explain to you that I don't think it at all practicable. We bare certainly number of dollars in the bank, bat in a very few months all that money will ba taken out to meet bills. When put in the bank it was placed to the best advantage. When the time came for building we put the money in a liquid state, and RE the accounts came in, that money was handed over. I think the very best interests of the Club, as far as that is concerned, have been looked after, and are being looked after at the present time.
LIBUT-COLONEL BROKE—I will take your word for it, Mr. Chairman. There is practically no statement of liabilities in the report.
Mr. SILVA NETTO made an exceptionally long speech in support of the Chairman's remarks, It, being salogy on the V.B.C., wan punctuated by bursts of applause. The speaker concluded by seconding the motion for the adoption of the report and accounts. This, on being put, was carried unanimously.
The re was absolute unanimity regarding the re-election of a president. Mr. A. Rodger wM re eloted on the motion of Mr. F. LAMMERT, · seconded by. Mr. L. LAMMERT.
Mr. FRANK LAMMERT WM re-elected seara. tary on the motion of Mr. Joran, seconded by Mr. Mo. VIDER.
The PRESIDENT proposed the appointment of Mr. S. Beth as treasurer.
Mr. COOKE seconded and the motion w&} carried.
Mr. JORGE suggested that a cash account should be kept in the bar. If ran on a cash basis he thought a cash book would do as well as coupons or ohits.
The PRESIDENT stated that the remark had been noted, and would be considered by the in- coming committee. The election of committee was then proceeded with, and resulted as follows:-
GENERAL COMMITTI).
Messrs. T. Mesk, J. Rodger, L. Lammert, F. Mackintosh, M. McIver, T. E. Pearce, C. B. Franklin, W. Logan and E. Humphreys.
BALL”TING COMMITTEE.
4. P. Robba, A. A. Claxton, J. Cruickshank, J. Forbes, C. E. Harrop, A. N. Kemp, A A. Ales, J. E. Alves, E. M. Hassland and H. A.
Beth.
nsiderable discussion followed, but of no public interest, regarding the building of a new bath. This was unanimously agreed to by members, and the processdings finished.
Cheers followed for the Chairman, the secretary and Mr. C. Leabirel, the energetic steward whose courtesy has always been appreciated by members.
The Director of the Observatory makes in his report on the last typhoon the interesting observation that "lightning which had been felt observed at 11 p.m. continued until 9 a.m. with the exception of the typhoon of September 18th, 1906. this is the only occasion on which lightning has been observed here near the centre of typhoon during the past 25 years. Thunder was not heard." The highest recorded velocity of the wind on that occasion was 81 millon hour at two o'clock, but, Mr. Fig - adde repord of wind velocity is not reliable from midnight owing to an accident to
instruments.