White Trousers
Made to your individual measure of reliabli materials which are thoroughly shrunk before being cut, thra ensuring the minimum of shrinkage in washing.
Cream Fine Gaberdine Cream Light Weight Serge Cream Serge with Neat
$16.50, $19.50
$16.50
Blue or Ray Stripes
Cream Viyella", Flannel
$19.50 $14.50
BLUE or BROWN FLANNEL for BLAZERS
Mackintosh & Co., Ltd.
MEN'S WEAR SPECIALISTS. Alexandre Building. Des Your Hold
GREEN ISLAND CEMENT CO., LTD.
Best Portland Cement
ISHEWAN, TOMES & CO.,
GENERAL MANAGERS,
HONGKONG.
The
APPROACH OF
SPRING
is appropriately heralded by the splendid
shewlag
of
Feminine
Fashions in
STRAW HATS
SILK JUMPERS
and
SILK LACE
AT
THE HONGKONG DAILY PRESS,
THE SINCERE CO., LTD.
WHITEAWAY, LALDIAW & CO., LTD.,
DRESS DEPT.
"NAMRIT” THE INDELIBLE VOILE
DOUBLE WIDTH
40 INCHES
PLAIN, SHADES AND PRINTED DESIGNS.
Exclusive
Desigus
that
represent
This
Season's
“TOOTALS"
GUARANTEED COTTON FABRICS.
Really
New
Styles
Very
of
Elegance
Distinction
and
Latest
Styles."
Dainty Summer Materials original pattern en tone. PRICE: $1.95 YARD.
Good
Taste.
"GOOD SERVICE FROM EVERY POINT
OF VIEW FROM
WHITEAWAY, LAIDLAW & CO., LTD.,
HONGKONG,
COMPANY: MEETING. INDO-CHINA S.N. CO., LTD. SHIPPING DEPRESSION: ANOTHER DISAPPOINTING YEAR,
WEDNESDAY, MAY 7TH, 1924
their lives in the performance of their duty, a risk not only "of dangers of navigation but of death or injury through the indiscriminate firing of Chinese troops on the banks of the river..
THE COMPANY'S TONNAGE Turning to the question of tonunge, the The forty-third annual general meeting
two vessels built for the Manila lite viz: of the Indo-China S.X. Company, Ltd., was held yesterday at the offices of the Swarg and Yurung have now replaced General Managers (Messrs. Jardine, the old Fuensang, which was saldi, arad Matheson and Co., Ltd). Mr. D. G. 3. the Longst already referred to," The Bernard presided and there were also existing conditions and future prospects present: Mr. C. G. Mackie (Director), of this line are receiving very careful Ms. F. F. Alcott (Secretary) and the consideration in view of the surplus usn following shareholders: The Hon. Mr. Anage operating on the route, especially. the vessels of the United States Euer R. Lowe, Messrs. A. B. Stewart, N. L
the legal H. Railton, flo. Leang, E. B. C. Torell, Racy Fleet Corporation, which have tw Lo Cheung Shin. P. Tod, D. MeMurray, come, active competitors in A. M. da Suva, W. B. Comaly, F. Carrying trade Hall. R. Macdougall, Lo Man Hing, Ho Shai Ki Ho Tang Ying. W. Gallo- way, and 3. F. Wright,
hould be in every respect suitable fur
requirements of the law.
thr
To replace the Kuunshing lost, in Oslo- her, 19. a contract was entered into, an favourable terns, with the Hongkong and Whampoa Dock Co., for the construction The CHAIRMAN said: Gentlement of a thoroughly up-to-date vessel for the will be observed from the Company Shanghai-Tientsin Line. The vessel in Report that there has been little improvestion the Liensking, recently' janach- ment in the general conditions atverinsed, will be in commission this ath, and China's casting and riverine trades, arl it is a disappointment again to be unable to record the much needed; and greatly to f desired, settlement of China's polis tical problems. Our experience in the year now ander review has been a petition of what happened in 1924 and with little exception the same factors governed the Company's earning power, It is quite impossible, in the segge of these remarks, to convey an adequate impression of the disculties continually confronting local shipping companies in the conduct of their business; but I think the world wide publicity given to the chaotic state of China will keep those who have interests in the Far East in touch with what is taking place.
THE DRAWBACKS OF MILITARY INTERFERENCE.
i
The urgent need of a light dranght vessel for the Ichang Chungking line. specially for the winter service, was met the purchase, on the stocks at Shang, hai. of inest suitable steamer designed for this particular trade. She has been named toge, and is bring found satis factory in every way.
Whilst na this subject I would say that we do not yet seem to he at the end of
troubles with our Ishang-Chungking steamer Fulire, and her repented break. downs have been a source of great dis
an glad to be able to appointment. I state, however, that her builders have now seat a special representative from Hone, who is at pretent at Shanghai, investigating the cause of the unsatisfac tory service so far performed.
Our vessels have been maintained at their usual good standard of upkeep, and the thanks of the Company are due to the staff, both afloat and ashore, who have performed loyal and valuable ser vier
Closely associated as we are with some of the premier shipping companies of Japan, it is only fitting that I should refer to the terrible hardships suffered by the Japanese people in the earth
The essential domestic requirements of the nation have had to be transported by book or by cruck," and this unfortu. nately has entailed the condonation by merchants of great irregularities on the purt of Military leaders, who would seera to impuse taxations on the flow of con- merce wherever and apparently whenever. they see ft. These conditions exist more particularly on the Upper Yangise and in the neighbourhood of the Cunton trelin Added to the drawbacks of milk tary interference an additional and inquake of September last, and, in "doing creasing benare to peaceful trading and water transport has developed to a very alarming extent in the form of piracy in Southern Chinese waters. To what ex tent the state of affairs referred to has contributed to the poor working remata shewn in aur neemuts it is diffent to say, the more so perhaps because the con siderations uintioned dest year with regard to holding on to our pivotal trades n all mosts rèain unaltered. Hren any way that the aequisition of expensive ships so after the close of the War was unessary to maintain our position in important trades, and in furtherance of this policy it is probable that more to we will have to be acquired at an early date for the Company's main services.
GELTUNG TA
There are very didinga, and 2017- sizes that our, policy of theeting trade evompetition, involving as it has a heavy. nitary sacrifice, his now commenced to bear fruit, and since we met last year, agreements, which in some cases have entailed years of urgetiation, have been definitely concluded, whilst others are in process of discussion That the arrange ments come to so far will prove of im portaat aancial benefit "to the Company is already shown in the working results during the concluding months of the year. and less some unknown factor disturbis the settlements already come to, and in view. I think may say that better times are in store for us.
WORST YEAR THE SHIPPING WORLD As EVER KNOWN.
40
|
so tender our sympathy to the sufferers; and also express the hope that with their chamcteristic resoured and energy our. neighbours will soon be able to restore normal conditions of living and commerce, Our company fortunately did not suffer as a result of the earthquake, and we were able to make the Saarang available on special terms, to assist in the relief work.
.
CHARITABLE. CALLS.
In response to charitable calls the Com pany has subsribed:10.000 to the Hongkong War Memorial Nursing Home: Tls, 1,000 to the Plant, Memorial Fund.
V
Captain Plant, who recently died, was as you are aware, one of the pioneer navigators of the Upper Yangtzes. $2.000 to the Wahu General Hospital These contributions I trust will ueft with, THE ACCOUNTS." Turning to the statement of annts it will be seen that the lose on the work- ing of steamers amounted to C836,471 139. fod, which is, however, C105,332 10s. 11d. less than in the previous year. There was
ད་
substantial improvement in earnings during the closing months of the year, which it is hoped will be maintained. The sum of £185,000 has been transferred from contingency account account, to which latter account has also een credited Eco,000 from investment This latter amount fluctuation reserve.
to готелие
is in respect of profits on investoients written up which had previously been to their market vahie and have since Geen soll. During the year kreuritics have been disposed of to meet the cost The year now being reviewed was,
of new tonnage and current expenses. for, as shipping interests are concernesi,
The building reserve account has been perhaps the worst the World has ever
increased by the sum of £10,662 cm. Dd.. known but it affords one comfort to know that notwithstanding the loss in representing the mounts received from operating the fines, we have been ablenderwriters in respect of the loss of the to maintain our organization at a sati factory standard of efficients, and are in a position to take the fullest antage of that period of prosperity which past experiences show usually follows lean
CASUALTIER Draind 1923. Brief reference is made in the report. No the casualties suffered by the feet. The Joss of the Longong in August last was a table disaster, accotinanied un- fortunately with serious loss of life, both foreign and native, and I wish to take this opportunity of expressing on behalf of the Company our deep sympathy with the relatives of these who lost heir lives in such sad ciremstances. The Com pany granted compassionate allowances where circumstances demandal, and 1 feel sure liat this will have your fullest approval.
The stranding of the Kamaly on Northern Luzon was n most unfortunate accident, but one happily not accom- panied by loss of life. The vessel was promptly salved, but the extensive nature of bottom damage was such that the age of the steamer did not warrant the ox- pense of repairing ber, and she was con sequently sold.
us, Loonghing, and the differences be tween the hook values and the sale price of the ss. Furusang and so. Kaursong, Economies in running the fleet, consistent with efficiency, have been adopted wher ever and whenever possible, and if far. ther reductions jean be effected in the heavier items "of overhead charges, your Directors, who are giving the inatter their careful consideration, will give effect thereto.
I do not think there is anything more in the accounts calling for special com meat, and I therefore beg to propose the following resolution:
That the report and statement of accounts, as presented he adopted and that a dividend of 5 per share on the cumulative preferred ordinary shares be paid. also that the amount of £1.179 As
L be carried forward to next year. The dividend on the shares on the Hongkong register to be paid at Ex- change 2/41.
As soon as this has been seconded f shall be glad to answer to the best of my ability any questions which shareholders may wish to ask.
Jr. C. ConBON MACKIE: I beg to second the resolutions..
The motion was carried, unauhaously. Mr. HORNELL proposed the condemnation of the appointment of Mr. G. W. Barton as a Director of the Company from Any 31st, 1923
31r. Ho Leuse sreonded, and the motion was carried unanimously.
Jr. A. B. STEWART proposed the re- election of the Hon. Sir C. P. Chater, LG and Mr. H. P. White as irres tofs the Company
Mr Lo Cues Sniu seconded, and the notion was carried unanimously
THE UPPER YANGTZE TRADE. Mention has been made from time to time of important developments in the Upper Yanktsze trade, and during last year war representatives at Hankow, Ichang and Chungking have had a diff vult and anxious task in controlling a servicer which was beset with many and varying diffenties, the most pronounced perhaps being the continued and vajusti fiable interference to trade by irrespon- sible militar factions. This gravu menace, not only to British trade but to the lives of the personnel of steamers employed, has been frequently and fully represented to the proper authorities, and it is hoped some frm and efficient steps Mr. F. C. Hatz seconded, and the motion will be taken to remedy a state of affairs was carried minnimously, co bangali di which cannot but seriously impair British The CHAIRMAN: That concludes the prestige ju. China; and it would not be business of the meeting, Gratlemen.. I overstating the case to say that those on thank you for your attenda ner Dividend board vessels, running under present con- warrants will he ready to-morrow and ditions, are obliged continually to risk may be obtained on application,
Mr. GALLOWAY proposed the re-election of the Hod Mr. A. Lowe and Mr. John Fleming as Auditors for the year 1921 at
remuneration of $5,000.
24,
MADAME
FLINT
CHIC
SUMMER
FROCKS.
CHINA BUILDING, 1ST FLOOR.
REMOVAL SALE
GREAT REDUCTION
UN
DRAWN THREAD WORK
HANDKERCHIEFS MANDARIN COATS
SILK SHAWLS MANILA HATS IVORY WARE
LND
ALL KINDS OF LADIES' FANCY GOODS.
May
ETC.
JUST A GOOD CHANCE TO YOU Come Early. Don't Fail to Visit.
THE SWATOW DRAWN WORK CO.,"
16, Des Vœux Road Central.
M. Y. SAN & CO., LTD.:
PRESERVED CHOICE SELECTED BEST TOURIG STEM SINER
GUS SIGE UP WITH CARE.
M.Y.SAN
Gal 3:
MADE IN KONG KONG
MANUFACTURERS
OF
BEST PRESERVED
STEM CINCER.
ĮMADE IN HONGKO
Y.SAN
HEAD OFFICE: Nos. 91 to 100 Queen's Road Central FACTORY: Canton Road, Kowloon.
BRANCHES AT: Manila, Singapore, Shanghai, Canton, China,
HONGKONG HOTEL GARAGE
ARROL-JOHNSTON & GALLOWAY CARS
THORNYCROFT COMMERCIAL VEHICLES
CADILLAC
GRAY
REPAIRS
Tel 32.
STUDEBAKER
MATHIS
SPARE PARTS for above Agencies
V
COMPLETE LINE OF ACCESSORIES
OVERHAUL PAINTING Under European supervision.
The Hongkong & Shanghai Hotels, Ltd.
Tel. 32.