Page
COMPANY MEETING. UNION INSURANCE SOCIETY OF
A CANTON, LTD.
ANNOUNCEMENT OF THE HON, MR. MONTAGUE EDE'S RETIREMENT.
VALUABLE SERVICES HANDSOMELY RECOGNISED.
LOBBER IN JAPAN....
THE HONGKONG DAILY PRESS, SATURDAY, MAY 17TB,
STUDY OF RISTREN LANGUAGES ENCOURAGED.
Last year your Chairman referred to the unsettled conditions in China which were seriously hampering trade, and I regret that conditions during the past
E20,000 PLUS THREE YEARS' COMMISSION * I would like to add a word of wel- You will all be pleased to learn that conn to Mr. Lauder, who you, ME he will continue to reside amongst us, Chairman, have told us is to succeeded and although he will not actively be en- Mr. Ede as Genéral Manager on the int gaged in business in the future we shall July next I have not known Mr. still be able to enjoy the charm of his Lauder so long or so intimately as I very kindly nature In recognition of have known Mr. Ede, but I have been the very valued services readored to the brought into sufficient contact with him Society by Mr. Ede, your Directors have to be sande aware that be is a gentleman voted him a sus of £20,000 and his are possessed of the attribute which Carlylö sont commission of prosts for thres described as Gentes namely, The in- years and which I am confident will finite capacity for taking pains. He has meet with your entire approval.
had, a lengthy experience in the Com- pany's service, and I am sure well inerits I have now" to announce that after ve the confidence roposed in him by the careful deliberation, the Board have ap Company's Board of Directors, and I pointed Mr. Paul Lauder, who has wide feet contain that, the future will show experience in many of the Society's prin that such confidence has not been mis- cipal branches as well as at Head Office placed. I am sure you will all join me
whom we have tried and have full con-
in wishing Mr. Lauder à long and proš- fidence into succeed Mr. Ede, and be will assume charge of the Society's busi-erous career as the Company's General ness as from the 1st July next. (Ap
Manager. plause.)⠀⠀
The adoption of "the report and ac counts was carried:unanimously" :
44
There now only remains for me to pro- pase the adoption of the Report and Accounts, and when this has been arond ed I shall be glad to answer to the best of my ability any questions you may wish to ask (Applausė.)"
OTHER BUSINESS.
On the motion of the Hon. Mr. I E cock, K.C., seconded by Mr. GEORGE GIMBLE, Mr. J. Plummer and Mr. D. Russell were reelected to the Board of Directors-
The year 1023 was a troubled one, not only in this Colony hat in many parts of the world, and I would particularly refer to the terrible calamity which most un happily overtook Japan. In this connec tian you wül he pleased to fearu, that no member of the Society's stal received The unnun, meeting of the Union Insur, injury during the earthquake. Our office ance Society of Canton, Ltd., was held in Yokohama was totally destroyed, hut esterday morning at the offices of the the Tokyo branch escaped any damage Company, Union Buildings The Hon. A temporary offer has been erected in Mr. P. IL "Holyoak presided and there | Yokohama ou our old site and the branch were also present: Mr. J. A Plummer was reopened for business on the 1st THE GENERAL MANAGE MD 0, Russell, My. J. P. Warren, Air Feturnary his. No doubt when many ot CG. S. Maukie and Mr. G. M. Young our shareholders heard of the disaster (Directors), Mr. Paal Lauder, represent they had uneasy thoughts as to the pea ing the fieneral Manager (Hon. Mr. Csible effect it would have on the Society's Bloutague Ede), and the following share-business. We transact in Japan a larger bolders:-The, Hen. Mr: H.. E.. Pollock, murine account than any other foreign the Hon. Mr. A. R. Lowe, the Hon. Mr. | company, but I am happy to state that Chow Siu-ki, Messrs. J. Scott Harston, the disaster has left us unshaken, and Ho Fook, W. R. Mansfield, A. A. Alves, for your information, our entire loss is D. V. Sicavenson, H. B. I. Dowbiggin, estimated at approximately £100,000, W. £ L. Shenton, W. L. Lensk."J. M. | Gentlemen, considering the nature and Aives L Dunbar, D. Bernard Brown, magnitude of the calamity, we have rea- G.-G. Franklin, Father Robert-Messrs.son for thankfulness that we have escaped 1. E. N. Ryan, A. C. Hay, J. A. Wors |30- lightly d "wick, Capt. TL. D. Thomas, Messrs. C. B. Ribeiro, IL. Glanville, 'A.. V: "Apear, G. Grimbit, M. A. Figueiredo, A. H.M. da "Silva, Lo Cheung-shin, J. A. Alahuster,
Mesara, Lawe, Bingham & Matthews and Mr. C. Bernard Brown were re- B. Mds Cunda, M. A.. R. Souza, V. L "Remedios, Hum Pak Ming, P. M. Hodg-year have shown no sign of improvement and Gentlemen, I have very much elected Auditors for the ensuing year at Bon, Leung Yan Po, E. A G. May, W. The Society's home field is in this pleasure in seconding the resolution for a remuneration of 82,000 each, on the country where we continue to make every the adoption of the Report and Accounts proposition of Mr. L. DUNBAR, seconded effort to strengthen our position. With as presented to this meeting, and in by Mr. LE. N. RYAN. given to our junior officers to study cial position appearing therefrom this end in view encouragement is heing doing so, I would remark that the finan This was all the business before the Chinese or other Eastern language, 43 your Directors feel that the necessity for eminently satisfactory and reflects great speaking the language of the Country of credit not only upon the Company's residence will become increasingly neces sary and be of material assistance to our Board of Directors and General Man trade. This step will enable our officers ager, but also upon all the other memn- A SATISFACTORY YEAR to maintain a closer connection with the traders of the country in which they bers of the Company's staff, for the
The fifty-fifth annual general meeting reside...
world-wide nature of the Company's of the China Fire Insurance Company, business makes its prosperity especially Ltd., was held yesterday morning at the dependent upon the efforts of its staff offices of the Company, Union Buildings, the Hon. Mr. P. H. Holyoak presiding in every quarter where that business is There were also present. Mr. J. A. carried on. Speaking for myself, I con Plummer, Mr. D. O. Russell, Mr. J. P. sider that the policy of refraining from G. M. Young (Directors), Mr. Paul.
Warren, Mr C., G. S. Mackic. and Mr. increasing the dividend is a sound one, Lauder, representing the General Man- and that the adoption of such a course ager (the Hon. Mr. C. Montague Ede), will redound to the beneft of the Com-and the following shareholders:-Messrs pany and consequently to that of its Hay, E. A Loss, B. L. C. da Cunha, C. G. Franklin, W. R. Mansfield, A. C.
shareholders in future years.
V. L dos Remedios, A. E. S. Alves, In view of the appalling nature and AA. Alves, M. 4. Souza, W. F. extent of the unfortunate calamity which Gardner, R. D. Read, and P. M. Hodg visited Japan last September, I consider
The CHAIRMAN said:-Gentlemen,-The that shareholders may well view the fact report and accounts wore issued on the
I will follow the usual procedure and
F. Carduer, & E S. Alves, W. L. Pat tenden, and E. A. Lees.
#
The CBRAN, in opening the meeting, said: Gentlemen,—I have very much regret in stating that Mr. Montague Edo, our General Manager, is unable to be present, owing to indifferent health. He has expressed keen disappointment in being unable to attend. In his absence I will ask lir. Paul Lauder to read the notice convening the meeting.
THE COMPANY'S NEW BUILDING IN LONDON. You will be pleased to learn that the Society entered into occupation of its new building in Cornhill, London, on the 25th March, and the excellent office erected has given entire satisfaction to
After the notice was read, The CHAIN said: Gentlemen.-The report, and accounts were issued on the 1st Blay, which will have given you ample time to scrutinize our figures, and I pro-all concerned. pose therefore to follow the usual custom and take them as well as the auditor's report na read.
The Working Account for the year 1999, after allowing for a bonus to contributors and an interim dividend of 94s, per share, shows that the balance available for dis- tribution is £372,998 16. 8d. and your
BONUS TO STAFF.
Geutlemen, we have followed our usual custom and voted a Bonus of 15 per cent od salaries to the credit of members of the staff holding provident fund agree ments which we feel sure will meet with your approval:-
CENERAL MANAGER'S RETIREMENT. - The CHAIRMAN added; I have now to
will be received by you all with feelings
SECONDER'S SPEECH.
Mr. J. SCOTT HARSTON; Mr. Chairman
meeting
THE CHINA FIRE INSURANCE
'gone
COMPANY, LTD.
Directors recommend that this balance bonke an announcement which I am sure that the Company's losses in connection | lat May and subject to your approval
dealt with in the following manner :-
Anal dividend of 16s.
per share on 111,000 shares
To carry forward"to un- derwriting suspense account to close the account for the year. 1999 .......
Company's business is conducted. "
-HR: SCOTT HARSTON'S TRIBUTE,
as read. The working account for the
year 13 shows a balance of 9001,976.02
to be dealt with. Your Directors recort mend that this balance be appropriated us follows:---
of profound regret; it is to inform you therewith are approximately £100,000 to it as well as the Anditora's report that our repected and deeply loved instead of a much larger sum, he got -£ 88,800 08. 04. Ceneral Manager, owing to continued only a fortunate circumstances but also Indifferent health, has tendered his rea tribute to the manner in which the signation as from the 30th June at and it has been regretfully accepted by your Directors. Mr. Ede's fine spirited public work for many years in this Colony, which he has been so ably seconded by his devoted wife, is so wet known to you all that I will not dweil it here save to say that we all hope it will soon meet with the recognition st:80 richly deserves. §.
1,199 16 8d. The balance of the Working Account for the year 162 stands at £10,946 is. Bd. and out of this balance your Directors recommend the payment of an interim dividend of 245, a share" absorbing £15,000, and a bonus of 20 per cent.. to contributors of business on bonus terms."
A MORE OPTIMISTIC VIEW WARRANTED,
140 YEARS IN THE KAST. “
que.
Dividend of $7.70 and bonus of $3.00 per share од 90,000 shares
To carry forward to under-
$200,000.00
1924
COMMUNITY TABLE PLATE
THE ADAM 17 COMMUNITY PLATE
THE ADAM is our latest acquisition-i
Community-the new design just recently brought out by the Oneida Community and one of the most beautiful things ever achieved in silverware.
• Like all the other Community designs, the (ADAM is supplied both in chests consuming
complete table outfits, or in separate
CANTEENS
MADE UP TO ORDER
LANE
CUSTOMERS.
Sosi Adxsts: }
CRAWFORD, LTD
“COMMUNITY PLATE STOCKED DS FOUR PATTERNS
AND
"ADAMS, GEORGIAN, VERNON
PATRICIAN.
LANE, CRAWFORD, LTD. JEWELLERS and SILVERSMITHS HONGKONG HOTEL BUILDINGS (CORNER PEDDIE STAZZT AND QUEEN'S BOLD) HONGKONG.
PURE FRUIT ESSENCE
MAKES REFRESHING SUMMER DRINKS 35 cents will make 35 oz. Syrup
LEMON
BANANA PINEAPPLE
RASPBERRIES
POMEGRANATE
MANDARINE
CHERRY
STRAWBERRY
APRICOTS
ORANGEADE
writing suspense account 761,300 THE CHINA DISPENSARY
$904,376.02
C
Mr. D. O. Russell and Mr. J. A. Plum- the Board of
mer were re-elected to Directors on the proposition of Mr. V. I pos REMEDIOS, seconded by Mr. AA Atvy and Mr. C Bernard Brown were re
Alesers. Lowe, Bingham and Matthews.
elected auditors for the ensuing year at a remuneration of $750 each, on the pro-
by Mr. V. F. V. HALIZ position of Mr. A. E. S. ALVES, seconded
This was all the business before the
meeting
I now come to a matter with which I am very much more qualified to dea! than any of those which I have previously mentioned. I refer, of course, to the forthcoming retirement of the Company's General Manager, Mr. Ede. I bare
Total known Mr. Ede intimately during the whole period of his tenure of office as Turning to the balance sheet you will Mr. Ede joined the Society's Eastern General Manager, and I have been hon notice that Sterling Exchange this year! As you have been told almost every staff in 1834, and after serving in Heng oured by his friendship throughout that is 2s. 3d is against ex eid. last year. period. For the past eleven years I The balance at credit of the 1993 account, recent annual meeting, the business of kong, Shanghai, North China and Japan have also acted as his legal adviser in is $1,366,770.04, I feel certain, Gentle- Farias underwriting and insurance gener. he ultimately became Branch Manager at
points men, that you will consider these figures ally, in common with all other trades, has Shanghai. Is the year 1908 he assumed connection with innumerable been passing through a difficult period and full charge of the Society, having just wherewith he, as General Manager, has satisfactory from all points of view...
from time to time had to deal, and 1 I now move that the Directors' report although that period of depression has completed an inspection tour in Austra xt yet catirely passed I am pleased to lin. I may here remark that the re- don't mind confessing that his know and statement as presented be adopted atate that there are not wanting indica-arrangement he made of our business in ledge of the Law relating to Insuraner and when this has been seconded 1-shall tions that the worst is over and that the that held has proved of lasting excel matters is vastly superior to my own-be pleased to answer any questions that general trend of business warrants a leace. During recent years he has given which fact aptly serves to demonstrate may be put
that Mr. Ede must have at Mr. Ede Mr. A. C. HAY seconded the adoption more optimistic view than has been pos- considerable attention to the Japanese must have at all times studied the sub of the report and accounts, which was sible during recent years. The market of side of our businose. No doubt the suject of insurance deeply and kept in carried unasional insurance has never been larger in the cess of his activities in this field were bistory of the world than at present, and materially assisted by the high esteem in constant touch with all matters likely the increased number of companies and which My. Ede holds the people of that to affect the conduct of the Company's iarlividuals seeking to make profits from country as I believe he is held by them. business and affairs, a task which when the business naturally means increased As you are no doubt aware, His Majesty coupled with that of his having, as it competition. Nevertheless, there appears the Emperor of Japan conferred upon were, to keep his finger upon the pulse to be slowly gathering what may be him the Order of the Sacred Tread operations, can have been no light of the Company's numerous interests" termed an undersanding amongst under sure." writers that the fates now current in the THE GROWTH OF THE COMPANY.
-THE NEW GENERAL MANAGER. world's markets require stiffening, and Mr. Edle has particularly, requested me although a great deal atill remains to he not to dwell on his resignation since you character have always appealed to me, Mr. Ede's Tho great quahties in done, co-operation amongst the various can well understand that, after serving namely, his invariable courtesy and his companies is
growing, and it is evident the Company for the space of 40 years, unfailing patience. Thoes are qualities that underwriters are. the necessity for a dimming to realise he feels the severance very keenly, but which command respect at all times, but
the extreme it would be ill fitting indeed if he wer competition which has proved so detri- allowed to retire without some reference in Mr. Edo's case, we have to remember mental to sound business in the past by the Directors to the outstanding part
that he would be entitled to be excused The Liner logas that have occurred he has played in the development of the if they were on occasion missing, for as during the past few yara emphasize the Society's business and assets during the suffered from ill-health of such a nature we all know, he has for some ten years necessity for charging rates which will period he has controlled
its destinies. allow the setting aside of premium to (Hear, hear and applause.) I need and to such an extent as to try him A Kowloon amah, was sent to prison" provide for these heary casualties, merely mention that in 1909 when Mr. almost beyond endurance, and yet he has for two months yesterday by Mr. The dearth of trained assistants which Ele assumed charge, the total assets were day after day, month after mouth, and Hamilton at the Kowloon angistracy for inevitably followed the Great War is approximately a million sterling and the your after year, so borne himself as to stealing from his mistress, Miss Lucy gradually being overcome and the know balance sheet now before you proclaims entitle him to the admiration of friend Belton, of No. 6, Granville Road, Kow
and foo alike. Many a younger, man
·ledge und experience gained by the them to be over five times that figure than he would have given up the struggle foon, one gold watch; ohe diamond ring;. younger generation of instance men facts which speak for themselves and need long ago, but Mr. Ede is imbued with ring and one gold bangle, valued at two lockets, one gold chain, one jade makes for the smoother and more eficient ronduct of the business WORLD WIDE CONCERN
the British Empiro what it is today, and $101, AZFOST GENERALLY ENCOURAGING. During the aime period, through his he has by his courage and determination that it was her first offence. She also said The woman pleaded Guilty," stating Turning to the figures in the Report, I foresight, and personality, amalgamations set an example which will serve as that she had all her property stolen. would explain that we have followed our were arranged and successfully concluded guiding light to those connected with their the country and that she was very usual practice and taken the investments Grst between the China Fire and Company in the years to come. (Hear, poor at their market value as at the 31st later, the North China," both of which hear.) December. Exchange hus again been a have added considerably to the Society's With regard to Mr. Ede's ability, I a sewing amab, went to her mistress on The defendant, who was employed as somewhat important factor in the figures: power which to day, Gentlemen, is world need only mention the fact that under Bunday and told her that she was nicky and the fall in the American cross-rate wide. #i
DEVOTION
his management the business of the Com and wanted to go to hospital On Mon pany has been quadrupled. You, Mrday morning, she returned to the house equivalent in our balance sheet You It has been my privilege as a Director Chairman, have indicated in your speech and asked to he allowed to go upstairs ill notice that our Re-insurance Fund of the Company to be associated with the esteem in which your colleagues and to get a thimble. Whilst upstairs the Bas been increased by over £200,000 and My Ede for many years now, throughout yourself bold Mr. Ede, and I will only took the articles from a box Stre-after- the Beport generally is very encouraging, that, period I have been profoundly inadd that I know that such esteem inwards confessed to the police that sho Notwithstanding the satisfactory ac pressed with his intense personal devo thoroughly well deserved. I am pleased sold them to a goldsmith in Queen's count presented, it has been thought wise, tion to the Company and the manner in to note from your remarks, Mr. Chair Road Central The jeweller in question cumaidering the trade conditions of the which he has built up its excellent system man, that Mr. Ede will continue to re- depied this. None of the articles have world, that no increase in our dividend, with a view to securing the continuity side among ur," and I trust that he may been recovered, but the sum of 835 was shall be made, and your Directors deem of a policy which has amply proved itself | long be spared to do so. He has more found in the woman's possession, and it at - advisable to continue, for a further in the past, and this affected, Gentlemen, than earned the rest which his relinquish is assumed that the money was part of period, the conservative policy adopted our General Baringer end safely take the ment of the past of General Manager the money obtained from the sale of the dast year.
rest which is both merited and recded." will undoubtedly give him.N
jewellery
no amplification.
ME
the same spirit as that which has made
EUROPEAN LADY ROBBID. KOWLOON AMAH SENT TO PRISON.
82, QUERE'S ROAD CENTRAL, HONGKONG.
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