Page
TREASURY CLERKS EXPERIENCES ON THE
RAILWAY.
UNSUCCESSFUL POLICE
PROSECUTIONS.
THE HONGKONG DAILY PRESS
COMPANY MEETINGS.
WILLIAM POWELL, LTD.
The annual general meeting of the shareholders of Messrs. William Powell, At the Hongkong Magistracy, yester Itd., was held yesterday at noon at the day, before Mr. J. R. Wood, Messrs Coffices of the Company. Mr. H. J. Gedge Carlos and J. F. da Rozario, clerks in (Chairman) presided and there were also
the Government Treasury, were summon-
CHARTERED BANK OF INDIA,
AUSTRALIA AND CHINA.
At the 64th ordinary general meeting of the shareholders of the Chartered Bank of India, Australia and China held at the Head Office in London on April. 10th,
Bir Montagu Cornish Turner (the chairman), who presided, aid :--Tha
WEDNESDAY, JUNE 5тæ, 1918.
SPORT
LAWN TENNIS.
BONGKONG. LEAQUE END DIVISION.
WIGWAM. CLUB DE RECREIO
In this match on Saturday the Club de Recreio won by 3 games 61 to 48. Beores:-
Soares and de Souza beat Brown and
ed under the Railway Ordinance and rescat-Messrs, J. W. Taylor. (Dire report which I have the pleasure to Crapnell, 8-3; lost to Railton and Knoth,
the Travellere Restriction Ordinance..
Mr. T. H. King, A.B.P., who pro- secuted, stated that the defendants were charged with attempting to defraud the
tor). G. Martin, F. Mauricie and H. O Holt (Secretary).
The CHAIRMAN nid-Your Directors have great pleasure in presenting the
submit for your approval to-day will doubtless be considered satisfactory in view of the prevailing conditions of stress and trouble under which we have
50; lost to Hobbs and Hioks, 5.6.
Rull and Hyndman beat, Railton and Kneth, 83, bent Brown and Crapnoll,
Hyndman, and Gomes beat Brown and
last to Hobbs and Hicks, 47.
47; last to Hobis and Hicks, 4-7. HONGKONG-JUNIOR LEAGUE TABLE.
·Railway Company, and also with travel accounts showing such a satisfactory re- to conduct banking operations. Our chio Crapnell, 6-5; lost to Railton and Knoth,
ling beyond the limits of the Colony with out a permit. They purchased third-class tickets at Kowloon for Sheung Shui, bat, instead of alighting at that station, pro coaded, ostensibly for Shum Chun, which is outside the limits of the Colony. They, therefore, travelled without paying their proper fares and also without obtaining a permit..
Mr. Rozario, the second defendant emphatically denied that he and his com panion attempted to defraud the Rail- "If we intended to do way Company. "no," he said, ,"we would have hid
ourselves in one of the oars instead of alighting on the platform at Sheung Shui, We were standing in a conspicu ous position and the Police Examination
four noticed us,"
The Magistrate. But you travelled
beyond your tickets..
Mr. Rozario: We were looking for the guard to pay for our tickets.
sult of the year's working, and I am sure that these will be equally satisfactory to you. As pointed out by your Chairman at the last general meeting, the Company is passing through difficult and strenuous times in regard to obtaining imports from Europe and America, and, owing to the scarcity of wool, many woollen goods are unobtainable Boots and shoes, also, ate unobtainable from England and we have to rely upon obtaining these articles from Ameries, but, in this regard, it is worthy of mention that we have woollen goods sufficient for our needs for large stock of boots and shoes and
some time to come.
The business transacted during the year under review has exceeded all records, and, considering the difficulties prevail ing in shipping and the shortage of mer chandise in the markets of England, this result must be considered highly
aim and object has been, in co-operation with other exchange banks, to finance to the utmost limit of our resources, ship- ments of national importance from Eastern ports to this country. To this end the Secretary of State and the Gor- erniment of Indin (as represented by the Food Commissioners at home and in India) have called upon the services of the exchange banks, who have luyally responded, and, we believe, have earned the spproval of those in authority. With this enormous drain on our resources" we to satisfy the full requirements of our may not have been able, at all times, friends and customers in the ordinary course of business, but we have done our best, in spite of lessened Council assist ance. We have all recognised that, in war times; the demands of the nation are of paramount importance, and must be As might be met first and foremost. expected, exports from this side to the
Indian Schools C.R. ((6). M. B. K.. Kowloon (C)
Played Won Last. Ita
Chinese Y.M.C.A. 5 St. Stephen's Col 3 I. G. A Civil Serviso (B). Dockyard, R. 4 Queen's College 4
0
8
0
6
6
2
$50,000,000 OF PARIS PEARLS IN GERMANY
Paris jewellers have sold in Germany, through agents in Switzerland, nearly $50,000,000 worth of pearls (according to a Geneva despatch to the Petit Journait. The Gormans aimed at, and, but for the notion of the Franch judicial authorities, would have succeeded in, cornering the
Bergeant Hoare, Polies Examination satisfactory, and shareholders are to bo East, and Far East have declined con- paris and London market in pearls after Officer, said he entered the train at congratulated on the Company's success aiderably, which, by reducing the demand clandestine trading, the despatch
Sheung Shui and saw two men on the platform. He was busy as the time and did not know whether they had tickets or not. He saw them enter a coach.
Mr. Rozario: But, did you not see us
in obtaining regular supplies of merchan
dise;
Turning to the balance sheet, you will see that our stock has increased from
war.
adds, has been going on anhindered since. early in 1915. All intermediaries are said to have been known to the Bwice police, who were astonished at the ease with which they were able to purchase gems in Faris,
for bank remittances, have further increased our difficulties and have forced exchange banks to rely more than ever on Counch Bils for laying down funds on the other aide. All engaged in business exporters, importers and dealers have look forward to the time when war has secuted on charges of trading with the ceased and trade has resumed its normalnemy", coured. I might also refer to the scarcity
jump off the train, immediately after you $170,206 to 8177,350-an increase over last much to contend with, but we can only Eighteen Paris dealers are being pro
had done 30-Witness: I never saw you do it. S.
satisfactory,
Our bills dis
year of $7,003, which valuation is far under its replacing value to-day Ex
is felt at all points ulike. That, unfor Mr. Rosario next stated that he exchange, too, has benefited the Company, of tonnage, which restrict operations and quired of several people whether he could and we would wish customers to note tunately, is a difficulty which is likely to of ensh to deposit liabilities of over 30
next few months As regards our busi.& position as possible. get a permit to proceed to Bhum Chun, that all our goods are marked at the rate incrouso rather than to diminish in the per cent. Our policy is to keep as liquid of exchange ruling at the day the merness in India, it is satisfactory to note counted and loans also show satisfactory Mr. Winyard, Travelling Inspector, en the Railway, deposed that no one asked chandise arrives, and customers conse that the crop reports up to date are most him whether there was any possibility of quently obtain the benefit of the high securing a permit to go to Shum Chum rate of exchange. The wholesale price of The two defondants had return tickets for merchandise both in England and America has risen i enormously, and if it Fanling
Mr. Wood said there did not scom to were not for the high rate of exchange be any evidence that defendants were ruling for some considerable time past called upon to pay for their fares and good would have to be sold retail at specially recognised by grants to meet which latter item we considered noces
prohibitive prices. Your management his adopted the policy of purchasing goods suitable to our requirements when Rever offered. The sales for this year show a satisfactory increase on last year's account, and the business may be con sidered on a satisfactory and steady basis -with this one note of warning, that if this disastrous war continues for an in- definite period goods will be unobtainable at least. in any large quantity. Fortu nately, we have a stock to carry us on for some time to come.
that they had refuted. If they had been asked for the money he was sure they would have paid it. He was going to strike off that charge from the summons.
Mr. King asked for an adjournment,
hat it was refused.
The second charge was then proceeded
with.
Mr. Rotario. We did not attempt to go. to Shum Chun. When we bought the tickets at Kowloon the ticket seller asked us our nationality, and we said we were Portugueso. He refused to give us tickets to Shum Chum without a permit and there the matter ended. We bought tickets for Cheung Shui and visited the place, after which we went to Fauling We wished to go to Shum: Chun, as we had not visited it before. When we arrived af Cheung Shui we went in search of a European official, because a Chinese railway oficial had informed us on the train that we might be able to get a permit. We were refused a permit, so we got off the train, and walked down to Fagling and then retumed to Hongkong, In reply to Mr. King, Mr. Rozario stated that he had resided 33 years in the Colony, He had read the notification appearing in the papers about leaving the Colony without a permit.
Sergeant Hoars said he asked defen dants at Sheung Shui for their permits, but they replied that they did not possess any They made the excuse that they were ignorant of the regulations. The defen dants were on the train at the time, and,
and told them to alight.
The proût for the year, including the amount of 0.932.82 brought forward from last account, is $57,889.32, and, as stated, your Directors propose to appor- tion it as follows:--
To pay a dividend of 50 cents and a bonus of 30 cents, alisorbing
To write of total value of
fixtures und fittings...
To transfer to equalization
of dividend account.
4.
To transfer to General Re
Herve
To carry forward to next
year's nocount
$16,800.00
4,364.14
10,000.00
Bills of exchange, 20,601,277 hat 10d. progress at 10:143,108 108. 1d., against The oxcellent work of the staff is including Treasury bills, amounting to
£4,337,903 bs: 1d., require explanation. reflected in the results shown in our £4.337 suro state that every member of the staff, odr net profit for the twelve months was annual report, but I can also with plesarning to our proft and loss account, at home and abroad, both male and 109,795 396 3d against 381,259 178. placing £100,000 to reserve fund, adding particular branch of the work. The scr $25,000 to oicers superannuation fund, female, has done his or her best in each 10d, in the previous year, and after vicos of the staff at home here be and writing $40,000 off premises account
the increased cost of living, while our foreign
new premises at certain pointa to meet staff have, since 1910, received uni extra sary in view of our having had to acquire month's salary. These allowances are, of our increasing business), wo recommend course, in addition to the annual bonus of 10 per cent, granted by the sboren final dividend at the rate of 14 per cent. holders. Further, owing to war difficul. per annum, together with a bonus of F1 per share, equal to 10 per cent pér ties, it has been found impossible to
annum, free of income-tax, and carry for arrange furlough for our Eastern staff ward $167,231 33 3d, against £187,405 and Luc leave of many of them is long 10. 21. brought in. Whilst our profits overdue. In such cases the directors have have so largely expanded, our expenses present compensated these officers by allowing have but naturally under them to draw one-fifth of a year's salary abnormal conditions, increased alan, but agira for each year that they serve abroad it is satisfactory to know that 30 per cant. after their furlough becomes due of that increase is due entirely to the
I am glad to say that the Court of higher rates of exchange
exchange ruling in the Directors have, in conjunction with the East.
adopted managers, evolved a pension scheme for The report and accounts were the staff which will come into operation forthwith. A deed of trust has becanimously.
The Chairman: Tesolution drawn up and trustees three directors is: That a dividend at the rate of and three members of the staff-have been 14 per cert, per annum for the half year appointed to deal with the
be glad a boaus of £1 per share, both free of ended 31st December last, together with Shareholders will, I am sure, be to have some information as to members income tax, be now declared, payable on of the staff serving in His Majesty's
and after the 17th inst Forces. In all 175 members have joined up-72 have obtained commissions while 99, I regret to say, have given their lives in the glorious, cause of liberty and freedom. All honour to their memory One officer has received the D.S.O., six have been awarded the Military Cross, The Chairman, in acknowledgment, and one the D.S.M. I am confident you said: I am especially glad that such will agree with me that this record is one kind remarks have been made with regard of which the Chartered Bank of India to the staff, because at home and abroad may be proud (Hear, hear,)
next
The Right Hon. Lord George Hamilton, G.C.8.1., seconded the motion, which wa unoniniously agreed to, p
The best thanks of the shareholders were given to the directors and the staff for their successful management of the bank.
with
Majestyoung
contend with. Our managers here, in The statement of accounts now before they have had exceptional difficulties to you to specially noticeable in the fact that hoad office deserve your highest praise our proposal to add £100,000 to the reserve
hear.) in 15,000.00 will bring that fund up to the satis her every day-gritically every hour, factory figure of £2,000,000, as compared if necessary and I can only say that at with our paid-up capital of £1,200,000 times it has given me concorn to see them It has been the consistent policy of the so hard pressed as they have been but 700071,726.19
directors for many years past to deto word from you does a lot, and I am The report and statement of accounts the reserve, thereby assuring the financial sure it will cheer them on to renewed
the shares in the market. Far- for the year ending February 28th, 1918, stability of the bank and improving the efforts. As regards the foreign staff, they have had not only the climate to contend were adopted on the motion of the Chair-ther, it is in a measure owing to this with, but also the difficulty of getting man seconded by Mr. Mauricio,
consistent policy of husbanding our away even for a short change locally resources and building up our reserves. Some of our men have really suffered from Messrs, G. C. Moxon and H. J. Gedge that we are able to pay the handsome having to remain abroad at their posts as it was in motion, he had it stopped were reclected Directors. The appoint return which shareholders now enjoy because there is no way of getting them Teel confident that the policy pursued will home, and they have also been very loyal Later ho met ment of Mr. JW Taylor as Director meet with your hearty approval. Taking in this respect. There has been a great
the figures of the report issued in 1906, attraction, naturally, for every them near the station, going in the direc
ia His tion of Fanling. They informed him that was confirmed.
Messrs. Percy Smith Seth and Flem- you all find that the reserve fund then man to join up
stood nt £975,000, increased to £1,475,000 but although they had been to the Sheung Shui Police
they
expressed their desire to the bank, Station to enquire wh
whether they could going were re-elected anditors at a re- in 1997, partly by the addition of the to do so they have, in
premium on the now shares issued in that remained at
their
posts with
very few a pass
Mr. J. H. Wood said the question was muneration of $150.
year, and gradually increased year by exoptions. It is really of the utmost whether the defendants went on the train
The CHAIRMAN: That is all the busi-year up to the present figure.
importance that they should stand Turning to our balance sheet, we have because we cannot carry on banking with with the intention of asking for permis sion to proceed to Shum Chun, or whe-ness, gentlemen. Dividend warrants will
every reason to congratulate ourselves on amateurs as they tried to do in His steadily expanding figures, pointing to Majesty's Government. ther they attempted to escape.
It would be healthy development all along the line farce to try to carry on banking with dants had given a reasonable explanation
Our totals now aggregato £39,120,432 128 amateurs. I regret to say that the ladies of their movements, and he was going to
Idas against 933,390,841 143. 11d. stare not quite up to it at present; at any discharge them.
Just December last year, an increase of £2,735,580 178. Ed., and even these figuresto, we vannot send them abroad Ladies Fare: all well up to a certain point,
wory in the The approximate statement of traffic wonible increase bad our complete good work 1n this bank at home; but they the ordinary course, have shown as we know and they have done very returns not been delayed by the shipping have not arrived at the stage when we difficulties. Our current and fixed deposit can ask them to become members of our accounts, new amounting to £28,042,146 foreign staffs. Therefore, it is that mor
9d., 188. 7d., an increase of 6,338,052 123, than crer responsibility rests on our staff evidence the continued confidence our broad, and I intend, gentlemen, with bone and Eastern friends place in the your approval, to send a special letter stability of the bank. On the other side of thanks to every manager abroad and of the account, our cash in hand amounted to the staff regarding your thanks and to £8,894,145 ea. 11d, an increase of your hearty approval of their conduct of £3,053,253 78 3d., showing a proportion the business of the bank during the past
year, Arplatkɔ) (Continued at foot of nezt colusan)
Defendants were then discharged.
Defer be ready to-day.
"ONCE A GERMAN ALWAYS A
GERMAN
tions
HONGKONG TRAMWAY CO., LTD.
receipts for the week ending 1st June are as follow
Under the title "Omea a ferman the British Empire always a German Union has issued & striking poster which shows, by means of a series of illustra
how the German, fresh from the commission of outrages such as have This Year shocked the civilised world, is the same Gast Tear. amug person who, on the signing of peace Inoresse will importune the British people to pur- chase his gooda.
Decrease
Receipts for
Aggregate receipts,
633
for 23 weeks 8204,131 288,899 5,932
LANE,
CRAWFORD & Co.
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Wm.
TELEPHONE 346
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New Supply of
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TAMÉN OF THR
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