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THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.
Tol, Central 238.
AGENTS FOR
3, Quoon's Buildings
BRIGGS BITUMINOUS ENAMELS & SOLUTIONS.
SOLE AGENTS FOR
"UNION
ANTI-CORROSIVE and ANTI-FOULING COMPOSITIONS
FOR SHIP'S BOTTOMS.
THE HONGKONG DAILY PRESS, THURSHAY, JUNE 5TH,
QUEEN'S THEATRE
PLEASURE HOUSE DE-LUXE
Commencing 3rd to 5th JUNE,
At 2.30, 5.15, 7.15 & 9.15 pm:
METRO ANNOUNCES
VIOLA DANA
IN
"SEEING'S BELIEVING"
A Harry Beaumont Production. A Gay Comedy of Embarrassment.
USUAL PRICES.
BOOKING AT THEATRE.
HABANA CIGARS
COMPANY MEETINGS.'". YANGTSZE INSURANCE ASSOCIATION, ITD..
"At the annual general meeting of the Yangtaze Insurance Association, Ltd, beld at Shanghai, last week, Mr. John Prentice (Chairman), waid:--Our work ing secount fur 1922 and former years shows a balance at eredit of 82.913,327.14.) Second year payments on" account of 19 were heavy, but payments on a Count of former years were lighter than usual, We propose to carry the balaner
FAR EASTERN INSURANCE COMPANY, ITU..
The 8th ordinary general meeting of shareholders in the war. Eastern Insur-
Titel: gems held at Shanghai,. ne last. T Pyrro presiding.
Propacing the adoption of the report and news Chairetan said:-The werking account for and former years show a balance at credit of Tls. 109.SH. Tar directors recommend that this balance be carried forward.
In the ang scamata for 1893 net premia e Kiowa no Tls, '1,289,820,82, degree of audu tip. co.600 as com- Rents pared with the previous year. and, interst
laws a sale of time and over last year's figures. Claims paid amount to Tis. 300,078. as against Tis. 75,572.31 As regards the working account for last year. Comision at Tis. 100,949.00 1923, net premin amount to 4,380.961-13, [äre less by s 21,600), and cavacs show
of the account forward.
triding incrense.
a decrease of about $68,000 from the
The balance at credit of this account is figures of the previous year. Interest, T1.2 Athough this muderwrit dividends and renis ut 250-1,691, B6 are less ing, position does not warrant any in- crease or the, dividend your directors. feel that soareholders are entitled to a | fuller jarocation in the interest earn. aings of the "company. They therefore recommend the distribution of a dividend
by $24,000. Claims, paid amount $1,919,655. 26 as compared with 2,320,069.20 last year. Agency commissions sow decrease of $50,000 and charges an in- pt. (Tk. 1.00 per share) as crease of $24,000.
$
compared with 8 per cent, last year. If this recmentation is approved" there will be a balance of Tls, 090314.2 to carry forward..
“DIVIDEND OF 993 PER CENT. Your directors recommend that
Turning the fedance shoot, sundry, dividend of 1 per cent. be paid out of
creditors show a reduction from Tis. the balance of this account and, if you 21.ess to Tis. 24,00. Our holding in adopt this proposal, there will be
British Government National War Bonds↑ balance of $2,375,638.15 to carry forward. stand as The 20,152 13 as compared with la view of the unfavourage Underwrit-Tls. 137,330. The increase is due to our purchase el a further £150 of this ing position this proposed increase in our stock during the year. You will also. For notice a new investment of Tis. 33,086.79 dividend calls for an explanation. several years past the interest. etc. in Chinese Government Reorganization earned by the association's funds has Gold Lour (French suck This repre been considerably more than the dividend sents a holding of £4,nny face value. paid to shareholders. The principal reason for this conservation of our re- sources was to assist us to provide for depreciation of certain mortgages to which I referred "at" last year's annual meeting. Adequate provision has now been made and your directors feel that shareholders are entitled to a larger share in our interest earrings, 2
Trade generally reinnins stagnant and the business of insurance is no exception We must look to the general of tilgs forward for better days to come.
A dividend at the rate of per cent., being out tael and 40 cents per share. on "the paid up capital of the company was Jared. was lcedure),
Turning to the balance sheet you will notice that investment and exchange fluctuation necbunt stands at $182,012,31 | EXCHANGE HATES DURING MAY.
compared with $900,000 a year ago.
The decrease is accourted for principally
Messrs. Roza Bro attach to their
by the decreased value in silver of our table of Exchange quotations during gold investments by reason of the rise May the following summary :--
in exchange from 38. Dd. at December 31st, 1922, to s. 3d. "at. December 31st, 1923, and partly to writing down our Yokohama property to Tle. I in our books after the destruction of our building in the earthquake of September 1st, 1923.
On the assets side of the balance sheet loans and mortgages at, 31,230266.35 tarn less by $1,17,000 and cash at bankers on fixed deposit and current account stands it $7,483,401.78, a compared 897,839.09 a year ago. Municipal, and other debentures stand at $519,304.79 18 against $157,50.13 last year. Sunday. debtors show a satisfactory decrease from $539,609.09 to $292,251.76.
with
Investments are shown at their market values as at December 31st and our: gold investments and funds have been convert-
“HENRY CLAY” “LA CORONA” “BOCK Y CA" Fed into silver at the rate of exchange
JUST
IMPORTED,
ABAQUERIA ILIPIN
LEADING TOBACCONISTS, OPPOSITE QUEEN'S THEATRE
For
LADIES.
Beautiful Small GOERZ CAMERAS
fitted with GOERZ LENSES.
Dainty Small GOERZ Theatre GLASSES.
Nice ALBUMS and TRIPODS.
Fancy Box Stationery of M.K. Wonderful, Pencils,
Pens and Cards, ete.
SHOW ROOM:
* 30-32, DES TŒUX BOAD C.
BALL, LAW & CO.
TILL 3217-
The Convenient Route to Europe
AIL from Yokohama, Kobe, Shanghai, Hong Kong or Manila to State or San Francisco cross America by rail and sail from New York to Plymouth, Cherbourg, Southaripion or Bremen via the United States Lines.
Investigate this new last route to Europe today -special through rates. Through reservations. UNITED STATES LINES Agents ADMIRAL ORIENTAL LINE – 4, Dex Your Bord, Boreinar. PACIFIC MAIL STEAMSHIP COMPANY
GLEEK'S JUNGIA 4. kaca fa mal gu AGENCIES IN, PRINCIPAL CITES
Managing Operators for U. S. SHIPPING BOARD
Our
current on December 31st, 1923- Gold Investments are set out in detail. A list of our silver investments is on the table for the inspection of any share- holder desirous of seeing it.
The terrible disaster which overtuok the cities of Tokyo and Yokohama and the surrounding the districts on Septem. her 1st, 1923, is fresh in the minds of all of us. A nations sympathize with the people of Japan in their great cala mity and admire the courage and energy with which they are facing the problems of rehabilitation
J
YOKOHAMA: NO SERIOUS LOSSER...
It will doubtless be of interest to shareholders to know how our business was affected by the disaster. No losses were sustained under our policies of fire insurance as the risks of earthquake and its consequences were expressly exclud e. No such exclusion, however, was stipulated for in our marine policies. Large quantities of cargo in course of shipment or discharge and at risk noder marine policies were, destroyed, or dam aged during or subsequent to the earth- quake. Our losses in this directiön
Init" considerable are not of such mag- j
Our
as to cause as any anxiety. branem manager and his family were absent from Yokohama at the time of the disaster. Dar acting manager and his wife escaped unhurt. Our entire local staff, however, of eight, Jupanesa were killed in the fall of our office build- ing The sympathy of the shareholders and your directors has already been ex pressed in tangible form to those; in opr employ or their dependents for the losses sustained and I feel sure that our action hak your unqualified approval. We have not re-opened our Yokohama branch and we have not yet, made any definite plans in this respect.
DEFINITE PLASK,IN THIS RESPECT.
As regards business generally, the long looked for trade revival is not yet in sight and asurance business suffers be erdugly from the reduced premiums offering and the increased competition for these premiums. The cycle of lean years cantot, however, be continuous and We must inok, forward to better times.
The services of the staff have not been overlooked by your directors who have voted to them a honus not exceeding 18 per cent of their salaries in 1924, to be paid partly in cash, and partly to the credit of their provident fund.We are confident that this vote has your ap ♫roval.
"An extraordinary general meeting was afterwards held the purpose of approv ing an addition to the memorandum of the association so as to permit the as sociation to act as a trustosecutor, administrator and agent, and otherwise in a fiduciary capacity,
The resolution was carried unanimous.
Average Tato May
(1924(Approx.) 2/415 1232514 MAR Highest Late Ming
(1924)(Approx.) 35 243, 1991 52 0.98 Lowest Rate May
(1324pprox.)324 9 127 501 CAR Avenge Bate to dare
(1024),(Approx.) - 243 187) 508 10,00 Highest Rates. ate (1924&pprox)
245 325 33 14.00- Lowest Rate to date
2:37 1074 047
(1924),(Approx.)
1024
THE STANDARD OF EXCELLENCE THROUGHOUT THE EAST,
QUALITY FIRST
PAINT
Varnishes, Enamels, Colourwash
und all kindred lines.
Wilkinson, Heywood & Clark
Stockists and Manufacturery.
Alexandra Buildings,
عاقة
~Phone Central 763,
As if this Announcement were personally addressed to you, signed, sealed, and delivered, We you to take it as an Invitation from the Publishers to inspect "CAPITAL AND TRADE," a Weekly Trade Paper which makes its appearance on June 6th.”.
Write and ask us to send you a copy
gratis.
+
CAPITAL AND TRADE,"
25. Jinkee Road,
SHANGHAI
EXTRAORDINARY ATTRACTION!
ATTRACTIVE SERVICE PARADE
For the Celebration" of
KING'S BIRTHDAY.
“Arrival of Captain - D'OISY
AT SHANGHAI -
AND
"THE DANCER OF THE NILE.”
At the
WORLD Theatre.
S. O. A. E, O.
THE FAR EAST OXYGEN AND ACETYLENE CO., LTD.
or
D3 ALES and MANUFACTURERS of Caygen, Acstyles" Carbonio Acid, Ammonise, Anhydrous sulpurous gasos, Carbide
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Boiler Repairs a speciality.
Apply Fo.
Des Vanx Road Contrai,
Tel Cantral No. 2244
Floor
rompt reailing at moderate prices of all kinds of Mo
Uyole abstylane tanks,