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AND CO., LTD...
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A Few
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FOR QUOTATION, APPLI-
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BURBERRY"
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Slightly Spotted but otherwise Perfect
NOTE
THE PRIC
:
$57.50
Usual Price $52.00
MACKINTOSH
& CO., LTD.
Men's Wear Specialists,
¥[
1.
Alexandra Building, Des Voeux Road,
THE SEASONS SMARTEST
SILK JUMPERS
DESIGNS TO SUIT ALL TASTES.
PRICES FROM $12.50 to $21.00 EACH,
JUST OPENED UP
FINE SILK HOSE
FROM $2.00 z0 $3.25 Pex Para.)
THE SINCERE CO., LTD.
[!
THE HONGKONG DAILY PRESS, MONDAY, MAY 7TH, 1918
RELIABLE SUN HELMETS
AT
WHITEAWAY'S
REAL CORK: GOOD SHAPE AND STYLE Covered Good Drill and Fitted with a Full White Puggarec.
11.50
13.50
BEWARE OF CHEAP AND WORTHLESS IMITATIONS. DO YOUR SHOPPING AT
WHITEAWAY, LAIDLAW & CO., LTD.
GENTS OUTFITTERS.
20, DES VEUX ROAD CENTRAL.
(NEXT TO JARDINE'S CORNER)
HONGKONG.
COMPANY MEETINGS.
LANE CRAWFORD, LIMITED,
FIRST ANNUAL MEETING.
f:
THE MERCANTILE BANK OF CHINA, LIMITED,
London is so intimately connected with the naues of India that I am not dis „posed to support at present the somewhat
INTIMATIONS
Sir Rong?). BLACK, Bars,, the Chair-yagi saggestion that purchases by the P.&O.BANKING:CORPORATION man, speaking at the thirtieth annual Intian Government should be regulated general meeting of the shareholders of this Bank, held at Winchester House Old Broad Street, London, EC. on March $7th, said:
悔
The first annual meeting of Messrs. Lane Crawford, Limited, was held at the Hongkong Hotel on Saturday. The chair.
In reviewing the past year it s satis was taken by Mr. J. Scott Harston, factory to be able in record
distinct supported by Messrs. A. S. D. Cousland, improvement in the general anthak as Lu the A. R. Lowe, M. Manuk, od J. H.compared with the proceding one. Taggart (Directors). R. L. Bridger, and are India as bea bised with
plante-us rain well distributed, a factor, F. X. Crawford (Managing Directors), of prime important to her property and S. J. Jordain (Svcretary). Share and ensequently the Goverment holders present were Messrs. A. Wattone ale to remove all restrictions on this Halance Sheet and those of the year
jonas whel were linesodry shuring Browne, D. K. Kharas, A. S. Ellis, S. M. war, and till quite recently. There is a Churu, W. MacFarlane, and H. Asiderable surplus of proles available Lammert.
ting shipment, pravidet cousuming markets are abls to respond, but that is the weak The CHAIRMAN said:--Gentlemes-The spot, owing to the ontinuet and stall more
Lit
LIMITED. (INCORPORATED IN ENGLAND 1920,
with which is affiliatei
THE ALLAHABAD BANK, LTD.,
INDIA.
AUTHORISED CAPTÍTAL SUBSCRIED AND PAID Dr ... RESERVE FUND
£5,000,000 £2,59-1,160 £90,000
li
from laudia, not London. Furthermore, it werally understood that when Th Imperist Bank of India was established it was no lateraled that it should parti cipate in sexchange matters; this might alone open up large questions. I think. therefore, it is wiser to wait a full exposition of the project if any is intended. will turn now to the accuts which have been in your hands some days and yar a doubt familiar with them. Tin first thing that strikes one is the exten-
HEAD OFFICE ordinary similarity between the figures in
122, Lendenball Street, London, E.C. 3. before. They rolleet the transition period
WEST LONDON BRANCH: e bave been passing through, which I als emphas sed at our last meeting.
14-16 Cockapur Street, London, S.W. 1. There is not much remark to be mude garding the debit site of the Baines
EASTERN BRANCHES : hands for the prescribed periód and I exchanges, and we must not overlook the current and fixed deposits
£400.000. On the other side of the world's
general impoverishment which is
semuurities. Singapore, Hongkong and Shanghai. propose therefore, with your permissiou. by no means the least of the difficulties in account--cash, bullion
the restoration of trade, in other words, they do to
show a strong position, ready The Corporation undertakes General Banking The net profit for the year, after it is to me open to considerable doubt for derelopments. Bil's receivable have and Exchange Business of overy description and
whether the entry will reap the full making das alternate for depreciation benefit of its advantageous position which and loans receivable aut advances have the principal Cities of . CHAM
ich increased to £3304,140 from £4.185,393, in addition to its Branches bas Agencies in all 203.704.94. This amount your Directors we otherwise might rensonably look for.
C. CHAMPKIN, declined £1,512,340, which tells its mw 11 recommend shall be appropriated In regard to insports into India, the tale. The summations on both sides follows:-
situation has greatly improved, inasmuch as the slowl which has darkened the ashok for so long, has almost cleared $125,000.00 way, and the lung draws out process of liquidation of the ever-to-be-remembered 50,000.00 boom of 1917-1920 has now, in a great
measure, been completed.
izr
Report and Accounts have been in your aggravated wrsettlement in international Sheet except a slight improvemchine Bombay, Calcutta, Karachi, Madras, Colombo,...
to take them as road.
To pay a dividend of $1 per ou 123,000 shares, share absorbing
To place to general reserve... To pay bonus to staff (approximately 10 per Cent.)
To curry forward to new
Account
which I trust will meet approval.
Fand
дя
I think I can say with much confidence 19.500.00 that we are well round the corner, that prosperts are brighter and trade on a
close
of the
Manager.
-22, Des Yeux Road Central Hongkong.
count to £10,043,700 against £10,49,433 in 1921, Referring to the Profit and Loss Account we have made the usual alloca tions of £50.000 to Reserve Fund, £1,000 written off Freehold Banking Promises. to Officers Pension Fund, and £20,000 THE INDUSTRIAL AND COMMERCE : The gross profit for the year was £3:18,325. 19. 1ld, and the net, £287,433. 129. Id. After deducting the amounts specified #17 the
18,284.9450unter and surer footing. It has been 101.. brow and adding £137.471. 89.
painful, and harnsing experience for all $203.764.04 concorned, and heavy sacrifices have had to be borue, but it is, something to know with your the worst is past, and given, tranquility and a continuares of couf denen which is appearing, prosperity will follow.
A still further stimulating and hopeful sign is the improvement in the political atmosphere in India due to a little more resolution in the conduct of he affairs long may it continue. The country is sound at the core, I believe, if only reasonable restriction is kept on disturbing
in from 1991, there is left balance to carry forward to 1995 of £132,105, 10, which is £14,153, 128. 70. more than last year.
Full provision has been made for all bad and doubtfal debis,
Mr. H. MELVILL SIMONS: ECOonded the resolution, which was carried unanimously. "Sir David Yule. Bart., and Mr. E. R. re-elected Directors of Chalmers, vero this Bank."
Mr. P. E. GORJU: Mr. Chairman, as an old shareholder of the Bank, and also on behalf of my friends who are interested in this nadertaking. I should like to ex- pres our gratification at the results shown. for the year 1022, which are no doubt due to extremely good management. We all know that 1929 was mit without its diffi- culties. In comparison with the past year, two, the fuctuations in silver have been aderate, there being only about 7d. between the highest and lowest points
elements.
Dr
BANK LTD.
HEAD CIFICE:
"York Building, Chater Road Hongkong
BRANCHES: Shanghai-51, Kiangse Road Bankow-British Concession.
CORRESPONDENTS IN London, New York, Chicago, San Francisco, Vancouver, B.C., Honolulu, Singapore, Penang, Tientsis, Swat w, Mincan, Caston and all Comi mercial centres of China and abroad.
PROMPT SERVICE.
Kanaper
1968]
RUSSO-ASIATIO BANT.
Eoubles.,
55,000,000
***
98,950,000
Kap. Tla
3,500,00
1,750,000
HEAD OFFICE: Paris 9, Rue Fondrean.
LEON OFFICE
64, Uld Broad Street, E.0.2.
lo.
DANKERS! LONDON: Messa. Glyp, Hüls, Curris & Co.
Societe Generale
pour Favoriser Developpement du Commerce et de l'Indus trie en France. PARIS: Societe Generale pour Favoriser le
Developpement du Commerce et de l'Indus-- tele en trance.
Banque de Paris et des Pays-Bas LYONS: Societe Generala pour Favoriser k Developpement du Commerce et de l'Indus trie en France.
NEW YORK: The Irving Bank-Columbia.
Trust Company.
of San Francisco. SAN FRANCISCO: The Crocker National Bank
BRANCHES IN ASIA:
Harbin Newehwang Urumtchi
Yokoham
The position discloset, is one of strength In regard to such appropriation,
A very excouraging feature has recut and liquidity, hud all i want now is a would remark that your Directors coit
ly ani-en ju the issub of the sider it a sound the, because, is the peas for 153-17. It is a Bugtigemus.revival of trade for the full That I employment of a resources, For the past five years the fone can be but gradual, and largely amount to is appropriated is the result neievement.
national finances have been masatisfactory, depends on the settlement of Europe Attractive rates for, all kinds of Deposils of the first year's working of the Comeusing a want of confidence and appre-which we all so anxiously look forward Inquiries are welcome.
T. H: MAL pany it is essential to create a Reserve hension, and giving rise to a growing to, equitable and dignified to ourselves. feeling of uneasiness as to the possibilities am just to our friends. You will sen of further taxation which would have from the report that we have opened a With regard to the bonus for the staff en is very severe blow to reviving trade. branch at Bangkok, which we hope will I feel sure that this will be ngreal ta by such a disaster has been happily avoided, be a further outlet for our resources.
I cannot close without passing a warm you. because our staf is a particularly and the only tax proposed is the doubling hard-working one, and it is to a great of the duty on sait, which has been un- tribute of praise to our staff, who have.
as usual, performed their duties with that CAPITAL (FULLY-PAID) It is, of course, changed since 1000.
ned attention,RESENTE FUND extent due to their efforts that we are regrettable that any increase is necessary, wholehearted devotion able to present what I think you will but the tax on salt seems fair under the which it has always been my great CAPITAL CONTRIBUTED BY THE
CHINESE GOVERNMENT circumstances, seeing the heavy burden of pleasure to recognise and appreciate. agree is, for a first year's working, a
other taxes, and it should be remembered now beg to propose:That the re RaxAVE FUND The stocks of the that the increase to very good report.
the individual is port of the Directors, with the audited Company ara hold absolutely eles, and stall, and possibly not so heavy an impost Statement of Accounts and Balance Sheet finve in every oase wherein the present as it was 20 years agu owing to the imat 31st December, 1922, presented to this are hereby proved conditions of life. The balancing meeting, be and the same cost would be lesa, been reluced to replace of the Budget for the ensuing year has received, approved and adopted, and that a final dividend on the A, B and ment cost. In June last, your Board only been possible by a drastic use of the
C''Shares of this Bank of 8 per cont. decided to issue a further 23,000, shares at Pruning knift, notably on military ex-
diture. Whether that is wise from be paid, making 13 per cent. for the year, par, thus bringing the total issue expical the security point of view I must leave less Income Tax, is recommended in the of the Company up to $1,250,000. The to those more fitted to decide. One thing report, and the same is hereby confirmed." purpose of this issue was to enable the is clear-retrenchment is an absolute ne Company to acquire a controlling inter-crsity and it is encouraging to see a real est in the business of William Powell. endeavour made to tackle the serious con- dition the finances of India were rapidly Limited. Your Board considered this a
drifting into. very favourable transaction. In February last, negotiations were entered into with the promoters of the Hongkong Realty and Trust Company Limited for the sale of the site which is generally known as the Wiseman site (Section A of Marine Lot No. 7), and the sole thereof has since been duly completed, the purchase price being 81,000,000 which brings a very satis
At the beginning of the year Changeben Hankow Manchouli Tientsin factory profit to this Company. Tas
In spite of these adverse factors, however, property No. 147 Praya, East has now
Toey was dificult to nas to advantage. Change accounts show an increased profit.airen been disposed of, the sale thereof having
this been carried through on the 1st instant
hands, and we look forward to the future I should like to transaction alse shows a substantial preft and 501, in 1920, There were no pur with great ennfidence. to us. In view of this sulo, your Directors chases made by the Indian Government take advantage of this opportunity to deemed it advisable to purchase the pro- daring the year, but the bazaars word congratulate our Chairman upon his hay pretty active, shipments to Bombay aud perty shown on the balance sheet as alertta being about £7,000,000 after been made a baronet and to propose 17 Burrows Street, which they acquired
hearty rate of thanks to him and the at a very reasounble figure. The man-
other Members of the Board of Directors, facture of furniture is now being carried
as well as to the whole of the staff, for on at the lust mentioned promises instead
year. (Applause) of at No. 147 Prays East as previously
having done so well during the past Your Company during the year under re
Mr. Joses: I have much pleasura in view also entered into an agreement for
seconding that vote of thanks- the purchase from the Hongkong Hotel Company Limited of Powell's Building on very favourable terms. In Februats last your Company, in puujunction with the Dairy Farm Ice and Cold Storage Company Limited opened a store at the Peak Hotel for the convenience of Peak residents. It is not anticipated that this will
appreciable increase in revenue, but in addition to materially assisting the Company's patrons, it has the effect of keeping the Company's name before the public. A arrangement hay now been arrived at whereby the Dairy Farm Lee and Cold Storage Company Limite branch in Canton will act as our Distributing agents in that part, anel From the 1st instant all orders from Canton for provisions will be exerated by them. The effect of this will be that our customers there will be relieved of the in convenience of themselves obtaining deli- very of goods, passing same through the Customs and paying duty etc.
In conclusion I would like to add on behalf of your Beard, and I think all present will b agree with me therein, that our hearty thanks are due to your Minuaging Directors Mears Crawford, Bridger and Eustacs for the excellent res sults achieved by the Company in this the Grat year of its existence,
enuse any
50
allowing, for exports rather more than many "varying in 1921. There are factors in favour of a further rise in values, or the reverse, that it would be hazardous to predict the future. The im ports af geld were about three times more than in 1921, and it is these shipments of bullion that have militated against a rise in exchange."
th
·་
The vote was unanimously accorded." The CHAIRMAN: Gontlemen. I beg to thank you very much for the personal "Generally speaking exchange was much reference to myself, and also for the kind on the sine level as in 1991, but in things that Mr. Gouriu has said about December iv firmed up and closed the year the Board and the Staff which, I am sure, at about is 41d. Sines, we have seen will be greatly appreciated by them.. short lived though smart advance to 1s
COMMUNICATION 5d., but it has dwindled away again to WIRELESS the neighbourhood of 13. 4.. a level which
WITH THE PHILIPPINES. seed in the mist to suit India's require
I meats from au all-round point of view,
THE NEW STATION AT BASCO. may say, very successfully. It is diffoult to sau adyanes in the near future
The Manila Times of April 28th says: except of a spamodie nature, and. Gov-
Direct ralin · commɗnication between ernment has given us enlightenment na to the retention of the fixity of the rupes at
Bsco, in the Batanes Isinada, and Hong- which in itself is rather unsettling.kong, will be established if tests now being bas recently been suggested that the made by the Department of Commerce and print method of selling Council Billa in Communications give satisfactory results, it London should be modified; but no parti was learned ut the Ayuntamiento. culárs of the contemplated scheme have been given.
The existing method has worked extre tely well and smoothly, and not only has it been advantageous to the Government, but it has fully met the wants of the trading community. I do not inginunte for one moment, that that necessarily pute out of court any suggestion put forward to improve the system if possible, tim
Asking if the Basco wireless station could be opened to the Hongkong Observatory, the Director of the Weather Bureau wrote to the Secretary of Commerce and Com- munications suggesting that if the plan was feasible, rates bo quoted.
The project has been under consideration. for some time, said Director of Posts Topacio, to whom the maiter was referred, tal circumstancy but do lid fireiber said that tests will be made I now beg to formally propose that the that a
proved by long experi- and if successful, steps will be taken to Report
ort and Accounts of the Company for ence to be successful, requires that awards the carrying out of the plan. the Financial Year ending 28th February. outstanding benefit from all standpoint, 1923 (including the ·apportiánment recom.
KRYPTOK LENSES
ײ,
Hongkong Peking Kashgar Shanghai
HONGKONG BRANCH: Interest allowed on Current Accounts and
Bills discounted.
Fixed Deposits. Terms on application. Loca?
Foreign Exchange on the Principal Cities o - the World bought and sold.
R.. A. RODGERS, 637]
Manager.
THE AMERICAN EXPRESS CO... INCORPORATED.
HEAD OFFICE: NEW YORK CITY.
INTERNATIONAL BANKING-SHIPPING-TRAVEL “
Eighty Offices are established in the Principal Cities of the World to provide Commercial Organisations and Private Individuais with ■ complete World Wide Banking, Shipping and Travel Service.
COMMERCIAL LETTERS OF CREDIT DEPOSIT AND CURRENT ACCOUNTS.
FOREIGN EXCHANGË, LETTERS OF CREDIT. TRAVELERS CHEQUES, LETTERS OF CREDIT. STEAMSHIP PASSAGES. HOTEL RESERVATIONS BAGGAGE INSURANCE.
CABLE AND FOSHAL REMITTANCES. PURCHASE OF BILLS OF EXCHANGE. Evay approved Banking Shipping and Travel Transaction.
SMOKERS CIRCLES "
be demonstrated before a change is miled by the Directors as therein in-made, and that the fullest particulara dicated) as presented be adopted, and I should be given of the contetnplated are conceded to be one of the very best shall be obliged if some shareholder will alteration and time for due consideration, forms of bifocal lenses. The bifocal seg kindly second such proposal whereupon A considerable proportion of the sterling ment is ground and fused into the distant questions as to the Report and Accounts available in India is represented by com- lens making the product practically one may be raised,
mercial bills with or without documents piece of glass. The segments are totally Mr. LANMEET conded, and the motion attached. The existing machinery handles invisible and the lens has a beautiful was carried.
this efficiently, expeditiously and with On the proposal of Mr. 5. M. Chua, much convenience and simplicity to the pearance. Bryptok lenses of any pres seconded by Mr. W MACFARLANG. Mr. merchant and trader. I doubt the method cription in either regular or Torte form M. Manuk the retiring. Director for the being improved upon or simplified. There are manufactured by the Hongkong Are other supplies of auriing available Optical Co., Successors to Clark & Co.. Mr. A. S. ELLIS proposed, and Mr. A. from time to time, and it is, conceivable Manufacturing and Retracting Opticians, HONGKONG CIGAR STORE, LTD. WALTON BROWN seconded, that Mears, that it might be & concealette non, cocus--the most competent optical manufactur. Liastrod and Davies be reelected sions to obtain rupees, if always available ing establishment in South China, Auditors.
on the spot. It is also conceivable that located in 53, Queen's Road Central, The motion was carried unanimously, by operating in two markets instead of Filding glasses and testing the sight is and this concluded the business of the one, the Government may not obtain the their speciality.--Avr.
₤101 meeting,
year, was re-elected.
full advantage it now has in ratos.
Get them at the
and enjoy a clean comforting smoke.