Page
Catler Fulmer &&
The Wine Merchants of the Cast
INAPIER
JOHNSTONE'S
'SQUARE BOTTLE "
WHISKY.
UNVARIED FOR OVER
150 YEARS,
COMPANY MEETING
THE HONGKONG DAILY PRESS, WEDNESDAY, NOVEMBER 20TH, 1918,
MALACCA RUBÉER PLANTATIONS LIMITED).
PROPOSED INCREASE OF CAPITAL SANCTIONED.
The sixth annual ordinary general mosting of the shareholders of the Malacca Rubber Plantations (Limited) was held on the 22nd ult, at Winchester House, Old Broad-street, under the presidency of Af. G. B. Dodwell, the chairman of the Company.
The Secretary (Mr. A. W. Copeland) having rend the notice convening the mest- ing.
The Grauman, who was warmly greeted, said:--Ladies and gentlemen, before com mencing our proceedings, it is my melancholy duty to record the donth, which took plavo last week, of our greatly esteemed colleague, Mr. Edward Murray Slater. Without any
THE SAME TO-DAY AS IN thought of personal recognition, Mr. Sinter
1746.
BEWARE
ΘΕ
IMITATIONS.
BOLE AGENTS IN HONGKONG:
LANE, CRAWFORD & CO.,
and from ALL WINE MERCHANTS,
GENTLEMEN,
SOMETHING
YOUT
WE HAVE
TO SUIT
had rendered to this Company valuable and devoted service, and we mourn to-day the loss of ono whose qualities of mind and heart had endeared hirà to uli, and whose high and inspiriting sense of loyalty was notice. able in everything that he did. I have lost a friend. Ladies and gentipiken, the report and accounts having bien for some time in your hands, I propose, with your permission, to follow the usual practice and to take them as rend. You will observe ther during the year under review we harvested 1,074,90615. of rubber, which roglized an average price of 4. lgd. per Th. As you are informed in the report, the benefit of the energetic and thorough system of cultivation which was applied to the ostatos in 1910 and 1911 is now evident, and it is a matter of satis fuction to all concerned that the results have justited the great effort and the heavy expenditure which were then made and
ILK, Silk Lisle, Lisle Socks, incurred.
Various Patterns.
Silk Pyjama Suits, White and Colour Striped.
Silk Scarves and Ties to match Silk Socks.
'THE CHAIRMAN'S SECOND VISIT TO THE ESTATES. Silk Shirts, White and Colour advantage of visiting, for the second time, At the early part of this your I had the Striped.
several of your catates, and I am happy to ho able tell you that my own observation arms the very encouraging report which the local management sonde home. The the most important factors of the Company's labour position, which is, of course, one of
general situation, is, I am glad to say, satisfactory, and the training of tappers to deal with the fresh areas as they come into bearing proceeds in anticipation of our futuro requirements. You will, I am sure, be glad to hear that the health conditions en our estates have greatly improved, and it is pleasing to know that the offorts of the medical staff have been attended with such a large measure of success. The Company's factories, buildings, and machinery are in excellent condition, and every effort is being made to maintain the high reputation of our manufactured product.
Sock Suspenders. Silk Handkerchiefs. Dancing Shoes and Gloves, etc. Call Early before we are Sold out.
HOOSAIN-ALI & Co. Hongkong, lat November, 1912. 150
STOMALIX
Siz de Carlos Cures Dyspogali and 98 per cent of Distaste of the Stomach and ferestres, painfulated otherwis
"Distributing 'Agoniss' ZFRANCIS KETOLAT:& SONS, Last, London, Eng.
Isay
KEATINGS LOZENGES
cure the worst Cough
APIOLINE
(CHAPOTEAUT)
LADIES
SACE REEDMO
For functional troubles, delay, pain and those irregularities peculiar to the sex.
Prescribed by the highest French Afedical authorities and superior to Tansey, steel Drops and Pety royal. CHAPOTEAUT, 8, rue Vivienne, Paris.
** Sufd by 2.* Chémiats.
توان دا
THE NEW FRENCH REMEDY.
THERAPION NO.
CURENDISCHARÜFM SITAUESEX WITHOUT INJECTIONS/
THERAPION No. 2
CUIES BLOOD POISON, BAD 1209, SAIR EXOPTIONB
THE PREBENT RÚMBER OUTPET; "SPLENDID RETURNS."
resulta. I need' only remind you that our
WM. POWELL, LTD.
TELETHOD 346.
HIGH-CLASS TEAKWOOD
BEDROOM SUITES.
GOOD SELECTION OF PRETTY
TOILET SETS.
UPHOLSTERED BEDROOM
LOUNGES
and
INEXPENSIVE.
CHAIRS.
CARPETS and RUGS.
DOUBLE, SINGLE AND TWIN
BEDSTEADS.
EVERY DESCRIPTION OF BEDDING.
COMPLETE
POSITION AND PROSPECTS OF THE RUBBER INDUSTRY.
FURNISHERS.
be any increase on balanco frem the other sources of supply, because any slight increase in any one particular direction will be sot off by a reduction is supply from some other quarter. The total world's production of rubber for this year is expected to be in the neighbourhood of 100,000 tons, the whole of which is likely to be required by trade
trade is not disturbed by any material demand. We are of opinion that the increase in demand next year-provided actuation in price-will fully counter- balance the increased supply.
BALER BY PUBLIC AUCTION,
I think I have now referred to all the matters which arise out of the report, and which more particularly concern this Com- pany's special interests, but, if I am not tetaining you too long, I would venture to make a fow remarks upon the general which we are engaged. In regard to the position and prospects of the industry in
market in the raw material, during the last few months a great deal has hoon said and written concerning the price of rubber and the probable course of the market, but I hesitate to make any contribution to a I now pass to the much debated question discussion where the data available are of selling plantation rubber by public scarcely sufficient for the formation of any auction. I do not propose to approach the reliable judgment. Only quite recently subject from any desdemic point of view. certain figures of production and consump-We are credibly informed that at the present tion were made public, and the opinion time six manufacturing concerns, take con- prevailed in some quarters that owing to siderably more than one-third of the world's the increase in demand being apparently supply of rubber, and less than a dozen greater than the increase in supply, a buyers take 90 per cent. of the rubber sold shortage was impending. The publication in public auction. The rubber is put up these figures was followed, curiously without reserve, and as I have already enough, by a fall in prices, with the result stated, it is now selling, weight for weight, that the trade statisties generally are now at the price of medium grades of wild largely ignored, if not, perhaps, somewhat rubber, and, allowing for the difference in purity, at 25 per cent. less than Fine Pare.
ΟΙ
With reference to the present output of rubber, wo are, I think entitled to con-discredited. gratulate ourselves in the sense that the splendid returns now being obtained under conservative system of topping are the logical sequence to and the natural outcome of a policy of absorption and extension, patiently and resolutely carried through in the past, and now entirely justified by output for 1010 was 387,605b.; and for 1911, 1,074,000lb., and, according to our present advices from Malacca, we are led to believe that the production for the present year, 1912, will be in excess of the amount of 2,000,000, which was predicted last year. (Cheers.) The crop for 1912 will have been obtained from less than one-half of the Company's trees, and as large presi continuously.coming into hearing, we may reasonably expect an output for the year 1913 of 8,000.0001b. (Cheers.)
are
In regard to the management in Malacca, your Company has the great advantage of a most execlient staff, and I need seareely remind you that the success of an under taking of this character is very largely dependent upon management. I feel sure that you will not only have approved of the bonus which has recently been granted, and to which reference is made in the report, but that you will also share our hope that wo-may find frequent occasion in the future to show in this practical manner, your appreciation of the efforts of those to whom your interests are entrusted. Both for this year and for next year we must expect the cost of production to amount to ls. Gd: per lb., but subsequently we may be entitled to anticipate some reduction in this figure.
́REASONS FÖR INCREASING THE CAPITAL:
AN UNQUALIFIED ABSUBANCE.”
I would, however, invite your attention to The world's supply of rubber this year is certain points in the present position which composed as to one-fourth of plantation First quality rubber and as to three-fourths of wild deserve your considorátión. plantation rubber is now being sold at 48. 8d.bber, and I suggest to you that if at the per lb., and as this rubber contains only 2 time 1,000 tons of plantation rubber were submitted at auction 3,000 tons of wild per cent of impurities, against 20 to 30 per rubber were also offered, the selling brokers cent, of impurities which is contained in medium and lower grades of wild rubber, it would have an unenviable task if they were would appear that, weight for weight, expected to get the same price, weight for plantation rubber is now solling at the price weight, for medium grades of wild rabber of medium grades. Unless and until a lower as for first-quality plantation rubber, and level of price is reached for medium and if in selling Fine Para they were expected lower grades of wild rubber, resulting, as to get a premium of 25 per cent. on plants- would certainly be the case, in a reduction tion rubber prices.
An analogy is sometimes drawn between of these supplies, there can be little daubt that the trade demand is fully equal to the tea and rabber, and it is thought that supply, and in this connection it is important because ten ja solt by auction that conse the world's production of rubber consists of Two-thirds of the to bear in mind that at present about half quently rubber should be sold by auction. world's supply of medium and lower grades. Again, in therebber, however, is not sold by auction at endeavour to form some idea of the probably all, but by, private treaty, and, therefore, rate of progress in demand, it may be of fail to see any correspondence of pusition importance to separate the tire, trade from between these two articles. The economist the rest of the trade in rubber goods, and will say that in the last analysis the buyer I am. inforthed by one of the largest tire will consider his own advantage and that manufacturers, whose figures have been con- all inequalities of position are in the end firmed by other authorities, that the con-adjusted. But supply and demand are not sumption of raw rubber in the industry of the only factors which determine price. tire manufacture was computed to have Methods and conditions of sale which give amounted to 33,000 tong in the year 1910, security and confidence to buyers are of 41,000 tons in the year 1911, and is estimated great importance. A single sale of Consols to amount to 54,000 tons for the year 1912.
at public anetion without reserve might well remove a great political party from olĥve.
Fortnightly public auctions of large quantities of plantation rubber, having If there be any doubt in your minds as to specially in regard the internal condition of the unfavourable influence which has been the trade, will always unnecessarily expose exerted upon the manufacturing industry, our industry to the harassing tactics of other than that part of it relating to tires, powerful consuming interesta. It is there- by the violent fluctuations of prices which fore to be hoped that, as is the case with have characterized the rubber trade of the sugar, copper, and the many other great last few years, I would point out that, commodities of trade, there will soon be according to careful calculations, the details created in London a daily market in rubber of which have been furnished to me, the sport conditions which will give security alike world's production of rubber realized so far to buyers and sellers and upon a scale back as 1905 approximately £28,000,000, and commensurate to the importance of an the production for the year 1911 realized industry which is so closely identified with only £31,000,000. I venture to think that the progress and civilization of our times. 7 these figures suggest the conclusion that, (Loud clieers.) I now beg to move the
ADVERSE EFFECT OF VIOLENT FLUCTUATIONA
IN PRICES.--
Mr. J. A. H. JACKSON seconded the motion, The CHAIRMAN, in reply to questions,
**I
am
thy Father's Spirit."-HAMLET,
BLACK AND WHITE WHISKY.
5
GARNER, QUELCH & Co.,
TELEYNONE 636.
30LE AGENTS,
DR. W. R. LAMB,
+128
AMERICAY OCULIST AND OPTICIAN, SPECIALIST IN EXAMINING THE EY# AND CORRZOTING
· DEFECTIVE VISION.
NO. 36. ASTOR HOUSE HOTEL. Has the pleasure again of announcing to the Citizens of Hongkong that he bra Opened a Consulting Room at the above adiles and will remain till Dacasos 2ND short yet sufficient time to give those in need of his servicos an opportunity of consulting him if they will make an Appointment at their narlivet convenience,"
He is fully prepared as before with the most modern instruments and apparatus, including the Jural Ophtha moneter and the Electro Ophthalmoscope for thoroughly examining and refracting the Eyes agar liur to the latest and most approved methods, as employed in the Metropoliton Ero Lufirmaries, and has the largest supply and greatest variety of all desirable kind and styles of mostings and lenses of the best quality evar brought to Hongkong, including several thousand different sphere-cylindrical and primatio lenses made specially to order for the correction of astigmatism, and other ocular defects which the common spherical lenses will not correct.
Those having eye troublé or defeative vision, who suffer from eye-acles, headache, inflammation of the eyes or lids or weakness of the coalar muscles, and those who are already wing glasses which, in meat cases, are not the kind required-would do well to avail then alves of the exceptional opportunity and unsurpassed facilities which sro offered now for examining and refracting the ages and procuring the glasses of the right kind-on opportunity which for completeness of apparstas and supply of leases, thoroughness of examination, partection of refraction which brings the vision up to the highest possible standard, sot perfectly satisfactory results, has never before been equalled in this Colony and is equal in every respect to the best obtainable anywhers abroad as these who conвaired him are willing to s:best Being certificated in opties as in medicine, with over 24 years' professional experience, and having thousands of references and testimonials from well-known and iaduentiat oltigens of many countries~inoluding several British Colonies and Hongkong, which he visited in 1910 -Dr. Lamb can assure those in need of his services the most thorough, reliable and satisfac tory professional work, and all glasses ho supplies to patients are warranted to be corrected, Charges reasonable Hours: 91.M. to 12 Noow, and 2 to 4.30 p.m.
Experiments on Human Beings have proved the body building power of Bovril to be from 10 to 20 times the amount taken
Bovril
QUEEN MARY and
11331
1056-1
KING GEORGE
CHOCOLATES in Tins.
NEW CONSIGNMENT.
WEISMANN, LTD.
“SHACKELL”
36
SEAL" RED PRINTING INK
TS ABSOLUTELY THE BRIGHTEST RED ON THE MARKET.
SAMPLE
GRATIN
SHACKELL EDWARDS & CO., LTD.
PRINTING INK MAKERS. ESTABLISHED 1785.
The HEAD OFFICE –5, RED LION PASSAGE, FLEET STRENT, LONDON, E.C.
By reference to the report you will observe that we are asking at this meeting for power to increase the capital of the Company to one million sterling, and I desire to give you an explanation of our views upon this subject. In the, irst place we have no business at the moment on hand, and some considerable time may elapse before. favourable opportunity presents itself for the acquisition by this Company of further taking into account the expansion in the adoption of the report and accounts. I will estates. To-day, therefore, we have only to
tire trade which has occurred between the call upon Mr. Jackson to second the motion, Consider the broad question of whether it years 1905 and 1911, the rest of the rubber bat before putting it to the meeting I shall be desirable or not to place ourselves in manufacturing industry, taken as a whole, ha glad to answer to the best of my ability readiness for the extension of the Company's has been for all these years in abeyance, if any questions which may be asked... operations. It may be said that we are
it has not, in fact, actually receded. Now, already working upon a large scale, and that suggest to you that not only is the tire we should be satisfied with our present
in its infancy and that rubber is destined stated that the directors were doing their position. That view of the matter is a
to play as important a rôle in relation to best to have the accounts rendered, carlier. perfectly reasonable one, but its adoption relation to railways, but also that the trade capiral expenditure in the past Fraz had
the roads as steel. has already done in The Company only produced rubber. would, of necessity, place a definite limita-
in rubber goods, other than tires, is capable, been heavy, but it would not reour, and it of great extension if manufacturers can be would save an enormous outlay in the future. assured of stability in prices.
The motion was then unanimously adopted, the Company or not), at such time or times, failed to see where there was any danger and resolutions were afterwards passed at such price or prices, and upon such terms and conditions as they from time to time re-électing the retiring directors, Mr. There is one point, however, upon which
think expedient." as much, therefore, from the point of Dodwell and Mr. Jackson, electing Mr.
Mr. J. MALCOLM LYON seconded the FIT. WE STAMP APPEN TO ALL GENTING PALAS 175 I wish to give you as unqualified assuranco:
view of the consumer as from that of the Charles Emerson a member of the board; we shall not, under any circumstances, producer, it is desirable to ascertain whether and reappointing the auditor, Mr. B.
motion. entertain any fresh business upon terms or ultimately the controlling forces of supply Murton Gil, chartered accountant.
Mr. SLADE said he thought that the conditions which would tend in any way to end demand are likely to establish a steady
"directors were asking for enormous addi- The CHAIRMAN afterwards proposed the weaken the power of the Company to pay level of value or whether a shortage or an
tional powers, for the issue of 000,000 shares ONGKONG HANSARD REPORT- dividends. (Cheers.) We have mentioned over-production is to create disturbing con-
following resolution:-
meant the control of further capital amount HONG
**That the capital of the Company being to £6,000,000 or even £9,000,000. They the MEETINGS of the in the report that the Company's debenture ditions which would prejudice the otherwis LEGISLATIVE COUNCIL for
the liability has hoon decreased by no less a sum inevitable progress of the rubber manu- increased to £1,000,000 by the creation of had managed the Company so far success- Session 1911.
than £186,290, this amount of debenture Facturing industry upon which our success 600,000 new ordinary shares of fi cach, and fully, but they were now asking for very REVISED BY "TER MEMBRES, stock having been converted into ordinary depends. Upon the present ocasion it is not that (notwithstanding anything contained in great powers, and he proposed, as an amoud
shares in the Company, under the right of nevessary for us to look more than 12 months the Company's articles of association) the ment, that the new issue should be limited conversion which holders of our debenture alicat, and for next year you must expect, directors of the Company he and they are to 300,000 shares. stock possess. This important reduction in
A. shareholder said that the existing so far as production is concerned, an increase hereby empowered to issue and allot such our indebtedness obviously improves the in the supply of plantation rubber of new shares or any of them to such persons 400,000 £1 shares in the Company wars general financial status of the Company. probably 15,000 tons. There is not likely to or companies (whether existing members of quoted in the market at £10 each, and ho
THERAPION NË. 3
CORES CHRONIO WEAKNESSEN, DRAINE, LOST VIGOS, ÉC. SOLD BY LEADING ENTEMENTO. PRICE IN ENGLAND.29 BEND SZÁMY ADDRESS ENVELOPE POR FRAR BOOK TO *. EX CLERC KED.CO. LA QURE HAVERSTOCK RD, LAMPSTEAD. LONDON, FOR YOU TXT NEW DRAGES (FASTELESS) FORM OF
ZASY TO TAKE JACK AND LASTINGCURE MES THAT TRADE. MARKED WORD "THESAPION" A ON
*IST ON HAYIWA THERAPION.
THERAPION
PRICE
ON SALE.
DAILY PRESS OFFICE, Zakong, 6th March, 1911
tion upon your prospects as a Company. Wo consider that you should not hesitate to support a policy of prudout, cautious, and orderly development.
BUTFLY AND DEMAND.
in increasing the share capital to the extent proposed by the directors. He believed that the shareholders would be very glad to subscribe for more shares.
Mr. SiON ZADO warmly supported the proposal of the board, who, he said, ought to have the shareholders' confidence, which they had proved themselves to be absolutely worthy of up to the present.
The amendment was not woonded. The CHAIRMAN, in repay, repeated the remarks he had made in his opening address with reference to the proposed increase in the capital, and afterwards put the resale. tion, which he declared carried, there being only three dissentients
A vote of thanks to the Chairman and directora terminated the proceedings.