Page
THE UNITED ASBESTOS ́ORIENTAL AGENCY, LTD.
Tol Central 286,
BRIGG'S
AGENTS FOR
THE HONGKONG DAILY PRESS, FRIDAY, JANUARY ST, 1926
2, Queen's Buildings.
BITUMINOUS
"ENAMELS & SOLUTIONS.
SOLE AGENTS FOR
6$
'UNION
$1
ANTI-CORROSIVE and ANTI-FOULING
COMPOSITIONS
FÖR SHIP'S BOTTOMS.
ANCHOR BRAND
PURE MANILA
ROPE.
“THE CORDAGE YOU CAN TRUST."
MARINE RUPE
TRANSMISSION
OF POWER ROPETMTM
CABLE LAID,
HAWSERS
WELL DRILLING
CABLES
ESTABLISHED 1854
YNCHAUST
ROPE
•HDD
FACTORY.
MANILA
60
ROPES OF ALL "SIZES FOR ALL PURPOSES
MADE FROM PURE MANILA HEMP
MANUFACTURE
BY THE MOST MODERN
MACHINERY.
STOCKS ON HAND OF ALL SIZES ENQUIRIES SOLICITED.
FACTORIES-MANIGA, P.I
KING'S BUILDING. TELEPHONE CENTRAL 3165.
HONGKONG OFFICE:
KING
The hope of the New Year lies in increased co-operation between the Chinese and the Foreign business man."
THE HONGKONG EVENING POST. THE ONLY CHINESE EVENING PAPER,
is the best field for enterprising Foreign Firms who wish to make their goods known amongst Chinese Firms of the highest standing.
All information regarding Advertisements from- THE ADVERTISING and PUBLICITY BUREAU,
Alexandra Buildings. Tel. C. 30,
GREET YOUR
FRIENDS
(3039
WITH
NEW YEAR CARDS
WHICH THEY WILL APPRECIATE.
BEAUTIFUL
44
OUR YOUR SELECTION FROM
ASSORTMENT CANNOT FAIL TO
PLEASE THEM*
THE SINCERE CO., LTD.
ARRIVED.
VICTOR
NEW
RECORDS.
S. MOUTRIE & Co., Ltd.
VICTOR DISTRIBUTORS.
P. & O. STEAM NAVIGATION CO. man had been driven into the strike at
the Cape and now bitterly regretted it... We are accepting the £30 (Laughter and hear, hear,).
(Contingel from page 2)
We cannot feed much more than a fourth of our population of our own soil, even if the land policy, we have lately heard so much about were adopted. That policy, it seems to me, is very much like the idea started a few years ago to plough up the hillsides, the moors and the deer forests of Scotland.
THE COLL STANDARD.
THANKS TO THE OFFICERS AND STAFF. Betors 1 conclude my remarks. I should like, to pay a tribute to the continued devotion and loyalty which characterize the staff of the P. and Q. and our allied companies, aahore and afloat, at ham's and abroad. Our relations with all our agenta, captains, officers, engineers, and staff are of the most friendly character. They are co-operating with us in the dithealt times through which we are pass- ing. la the now nearly 10 years of the P. and O. Company's existence there has always prevailed a spirit of kinship, a sense of loyalty, and à pride in the com many; and this sentiment, I am happy to say, not only survives to-day but is, I believe, stronger than ever. (Hear; | hear.)
•
We hope we shall continue to have a quiet and stable Government, free from the disturbing apheavals which we see elsewhere, and we do not want the print- ing press turned on to discharge our obligations. (Hear, hear.) I am con- vinced it was the right thing to do to restore the gold standard in this country, and although for the moment the freeing of gold threatened a drain on our gold stocks the raising of the bank rate should
I saw some of the leading members of steady the position. The throwing open the lower deck crew of the Chitral in my of our money market to foreign borrow. ers should help our export trade, for made by Communists in Australia to get room not long ago. Attempts had been what we lend abroad should to a large them to break their articles and to cease extent be taken, not in bullion or trans-
work, but the men were loyal to thr ferred credits, but in British goods, in manufactured steel and steel construction, agreements. I asked one of them how or, possibly, in coal. With the gold long he had been in the P. and O. He "Thirty years, Sir." I said "You standard re-established Lendon should said, continue to be what she has been fortast have joined very young, you do not generations the financial centre of the look more than thirty now" He said, I have had a very happy time in the world.
company and I mean to remain there, Sir, till you turn me out." I said, "We never turn out good men.",
Now, Ladies and Gentlemen, in voicing these opinions am only giving my own views. Some of my colleagues may agree with me; others may not. This no doubt also applies to those I am addressing But the board is one in its determina- tion to reduce the expenditure and to im- prove the revenue of the P. and O. Com- pany, so far as that can be done with out impairing the efficiency of the ser- vice or alienating the public on whose good will we depend.
STRPLUS 'SHIFTING, -
As regards the Government putting up money to enable more ships to be built, I associate myself with the remarks which recently fell from Sir Frederick Lewis on this subject. There are at the moment far more ships in the world than trado requires; millions of tons are laid up; few of the ships in commission are curning sufficient to cover working ex- penses, and it does seem to be contrary to all sound economies that Government should under the Trades Facilities Act, advance money to build more ships, the completion of which cannot fail to aggre- vate the disastrous condition of the ship ping industry, in which millions of the people's savings are invested. All of us who are interested in shipping cannot but applaud the refusal of the Prime Minister to subsidize shipbuilding at the present time. As be, if I may venture to Bay 50, very wisely said, "Such a grant would prove not more than a temporary relief, and it is generally believed that there is already a large amount of sur plus cargo tonnage in the world."
An idea has been promulgated that all old ships should be disposed of and a contribution from the taxpayer should be made to provide new ships. This is on excellent idea so far as some shipowners are concerned, but what about the tax payer who will have to foot the bill! To my mind the suggestion is absurd, but the Chancellor of the Exchequer may think differently, although I doubt it.
Lord Inchcape proceeded to review at considerable length general political con- ditions under such,headings as " Trade Adversities and the Remedies"; "Taxa- tion and Trade Disputes"; Attitude of Labour Leaders," Socialism and Com- munism," etc., and then- dealt more specifically with matters relating to the P. & O. Co. as follows:-
STATISTICS.
The following gives some idea of the work dane by our combined services There have been 434 ships in commission during the year.. The cargo carried has been 14,864,344 tons. The distance travers ed has been 16,454,430 eea miles. Tho port entries have been 28,558. The num ber of passengers carried has been 2,006,806. The number of animals carri ed has been 294,918. The expenditure on wages and victualling of crews has been £4,878,500 for the year..
24
PROFIT-BHAKING FOR EMPLOYEES.
11
I had for some time been seeking to discover a working scheme by which em ployees might participate, without risk, in the company's pronts, and eventually hit upon a plah which I think is both simple and practical, and which my colleagues accepted.
TO-DAY
&
TO-MORROW
BUSTER KEATON
IN
OUR HOSPITALITY
A
DRAMATIC · COMEDY.
QUEEN'S
INVESTMENTS.
Unions
WE BUY
2,20 2/10 E. Bank 50/200 0.Lights (old) | 500/1,000 Trama 50/200 do. (new) 50/100 Hotels 50/100 L. Crawfords
100 100,1,000 Unwriters
TEL. 1630.
Speaking of this reminds me that the newspapers announced lately, to my sur- 25/230. Electrics prise, that I was 13. Perhaps you will think it is about time for me to go. will relinquish my burden as soon as I feel usable to bear it, or before then if it is your pleasure.
·
IN
Canton Ing. Orientala
WE
100/500 Dairy Farme
Hotels.
SELL
25/200 Lands
10/100 Montries
все
100 Realties
500
Steamboats
100
Енок
500
Cements
Sinceres
[125
380 Lunas
·SMALL INVESTORS, 10, Des Voor Road.
HONGKONG STOCK EXCHANGE; CLOSING QUOTATIONS.
Hongkong Bank
Do., London. Chartered Bank......... Mercantile Bank, A. & B.
Da,
Bank Anis Bank
P.&O.
APPRECICATION AND CRITICISM. "The board's desire is to give the best* servico possible, and in this, as I have said, they are supported by the comman- ders, the officers, and the staff, but of course we cannot rule the ocean fat, and even our largest ships must give an occasional roll which sometimes upsets the liver and begets a grow! (Laughter.) I see every complaint which reaches us Some are justified; some are not, but they are all dealt with courteously, fair ly, and reasonably. I also see every letter of appreciation that comes in, and these far outnumber those of the other kind Some of the growls are rather amusing. One man complained the other day that he felt no exhilaration after a whisky and soda, on board the steamers Laughter) and that the contents of a
pep bottle of gin contained no more than a bottle of gigner beer. (Laughter.) We are representing the matter to the distillers, some of whose proclamations on the boardings assure us that they are "still going strong!" (Laughter.)
+1
I wonder if I might, without giving offence, make an appeal to those who write to the company or to myself to en deavour to do so in a handwriting which is fairly legible or typewritten and to append readable signatures at the end of their letters. I do not know whether the art of calligraphy is dying out, but the time occupied in deciphering many com munications nowadays is very great, and addresses have often to be looked up in reference books to ascertain the origin of the communications.
A VISIT TO INDIA.
My wife and I are going to Bombay and back in the Ranpura in January, spending a fortnight in India. We are looking forward to seeing Calcutta ane Bombay again, where we passed many happy years. It is cot a bad thing for the chairman of the P, and O. Company to travel about a bit in the ships. He sees how things are done; he gets into friendly and personal touch with the captains, officers, engineers, pursera, and staff; he gets a very useful education; and it is uncommonly pleasant to spond & few weeks on board & P. and 0. steamer.
JANUARY 7TH, 1926.
..$1,060 buy., 1,070 8a.
£21 com
£129 nom.
mod +603
£1st nom... £9 nom.
..8590 buy. ..set nom.
$85 nom.
Canton InsuTANCS Chits Underwriter .....!.. North China Insurance
. 145 nom. Union Insurance ........ ..$953 bay.
$35 buy. Yangtze Insurance
$165 buy. Chins Fire Insurance
༤ འངས ༤༢ག Hongkong Fire Insurance...$600 sel.
¥35 Dongleses FLE., O. & M. Steamboats... buy.
·Tags.......
$4 nom. 838 nom. D4. (Def.), London...$65 sel
Hongkong 365 set...
.98/- boy.
Hongkong Taga.... Indo-C
Do.
Shell Transporta Star Forries..... Waterboats
Oriental Navigations China Sugars..... Malabon Sugars.: Bengueta......
Kaian Mining Ad. Langkata (combined) Do (single)
Bxplorations..
Loans
Raube Tronoh Mines. Ural Caspians
K. & K. Wharts.. BK & W. Docka Hongkaw
362) nom.
$16 buy. $250 nom. ..831 sel.
..$48 nom. ..$1.90 nom. .45/- nom. „Ws, 334 nom. Tis. 20 nom. Tis. S.45 nom Ths. 8 now. .85.80 zel.
New Engineeringa.... Shanghai Docka H.K. & S. Hotel (old). Hongkong Lands Hongkong Realtys (c.p.)...... E.K. Territorials (Ep.)..... Humphreys Estates.... Prince's Buildings... Rural Lands Ewo Cottons Orientale....... Shanghai Cottons (old) Amusements
(now)
(old)....
De.
Canton Ices Dements (combined)
Dok Do. China Buses.............................. China Lights (combined)
Do. (old)
8/-nom. $130 buy. ..856 buy.
Tis. 165 buy,
Tls. 7 buy.
Tis. 114 nom. $8 b., 84 sol. ..$684 nom..
$5
buy. ..36 buy.
3131 buy. $150
nom.
.$7 sol.
Tis. 10 sel. „TL, 3 20. .Tis.. 62 sel. .Tls, 31 sol. $101 buy,
$71 nom. $16 buy $124 nom. $3 nom.
101 buy.
$19 sel $15.10 nom.
Do. (new). ..$10.65 nom.
But, as Lord Grey of Fallodon said in his recently published charming book, the head of a great business never has China Providents (comb.)...8324 nom.
real rest, His work follows him wherever he goes like a perennial stream." So far as I am convinced, I find there is no swector water...
-
previous
...
Do. Do.
(old)......$8 nom. (e) 881.nom.
bay. $172 nom.
Constructions Dairy Farms Der A Wing (fp) Hongkong Electrica Macno Electrics HK Developmenta HK. Bopes (combined)
Do.
$10 nom $55 námu. $40 nom.
.30 cta. buy. $40 Bal.
Dr. (LOW)............$81 nom.
THE BELTISH INDIA COMPANY, I think I have stated on occasion that all through the Gandhi and Swaraj troubles in India the British India Co.'s business, 05 per cent. of which is done with Indian merchants, was not in the very slightest degree affected. Our re Hongkong Tramways The board has accordingly, recentlylations with our Indian clients remained Lane Crawfords... announced that the employees of the as cordial as they have always been since Mackintosha....... and O. and British India Companies, the company's inauguration 70 years ago. Peak Trams (old)
Do. (new) (0.p ashore and afloat, may make deposits: This was very pleasantly demonstrated to bearing interest at 5 per cent. per me the other day by a letter which I Sinceres......
Tazia annum, plus an additional 2 per cent. received signed by all the principal
United Asbestos per annum when the dividend on the Indian Arms with which the company and O. Deferred stock is at the rate of does business, expressing their regret at 5 per cent, per annum, or more; or an the contemplated departure from India additional 24 per cent. when the dividend of Sir William Carrie, the present head is 10 per cent, or more. The additional of the managing agents' firm, Mackinnon, 2. per cent, or 2 per cent, on the deposits Mackenzie & Co.. will form in charge on the revenues of the company, but the directors feel that it will be an additional incentive to the employees, who have so much in their hands, to care for the company's in terests. The scheme will be open to the employees of all our allied companies
I feel sure the stockholders will agree that the proposal is a sound one and that it is to the advantage not only of the employees but of the stockholders them selves. The arrangemat will associate the employees with the board in working for the benefit of the company,, and, while ensuring them a reasonable return on their deposits, it will enable them to share with the stockholders the fruits of anything which they, the employees, may be able to do to improve the company'e returna, either by decreasing expenditure or by improving revenuo.g
It will interest you to know that we had letter lately from the mother of one of our stewards in the branch line saying she would like to deposit £30 for her son. She went on to say the young
Sir William is coming away after a long spell of hard work in India; and I hope to have his assistance here after he has had a good rest, I assured my correspondents in reply that the friendly relations between the company, the firm, and the Indian merchants would be main- tained, whoever happened to be, for the moment, the bead of the firm in India, as all the partners have been brought up from boyhood, as I myself was, in its traditions.
Watsons (old)
Do. (new). Wm. Powells...
$181 nom.
.394) nom.
$124
Dom.
$21 mom.
..$16 bay.
...8/. nom.
$il nel, $4 BOL.
$20 nom. $121 buy.
.312 buy.
313 sel.
buy-buyers; sel-sellers; Bo
zom-nominal
می کو دوده
,"
TO LET.
ON FLAT OF SPACIOUS SUITE of
er About MARCH, 1986, WHOLE
OFFICES in the FRENCH BUILDING
{ " VICTORIA BUILDING,” No. 5, Queen's Bead Oxrmat (between CHARTZRED BANK and MERCANTILE BANK).
Bir Walter R. Lawrence, B., GOLE... G.C.V.O., C.B., seconded the motion for the adoption of the report and it was carried unanimously.
THE DIVIDEND.
That a The Chairman next moved: dividend for the half-year ended Septem- ber 30th last of 21 per cent, on the Pre- ferred stock, less income-tax, and a dividend of 4 per cent, on the Deferred stock, free of income-tax, as recommended in the report; be now declared, and that. payment for the same be made on and after the 11th inst."
This resolation was seconded by Mr. H. N. Gladstone and unanimously ap
So far as I am concerned, my inspira tions came from the precepte, the advice, and the example of one who was for 20 years my revered chief, my guide, my counsellor, and my friend, the late Bir William Mackinnon, the, founder both of the British India Company and proved. of the firm of Mackinnon, Mackenzie and Ca, who have been the company's managing agents since its formation.
In conclusion the Chairman paid trhiutes to the retiring Viceroy of India and his successor.
(Continued at foot of next Column.)
On the motion of the Chairman, seconded by Sir Montagu Cornish Turner, Bir Walter B. Lawrence was unanimous- ly re-elected a director, as was also the Hon. Alxander Bhaw, on the proposition of the Chairman, seconded by Mr. A. M. Monteath."
t
Apply to BANQUE DE TINDOCHINE,
Chster Road.
TO LET.
[2607
COMMODIOUS PREMISES DE GROUND
Would make Admirable Showroom. For full particulars, apply to-
COMMODIOUS PERVORT SOLD COUND
THE MANAGEB, HONGKONG AND CHIA Gas Co.
TO LET,
[2514
GODOWNS in ALEXANDRA BUILD.
2032
(Bassment).
Apply
SECRETARY,
A. S WATION & Co., LTD,
LET,
WO Newly-constructed EUROPEAN
T HOUSES, MAGAZINE,GAF, MOTOR ROAD,
Three Flats, Three Large Rooms, each with Kitchen, Servants' Quarters and Bath Roca,y... Etted with Flush System.
Garage provided Immediate possession.
Apply➡
SANG KEE, New Bank Building. (2921
Seltona
THE PAPER FOR BEAUTIFUL WORK.
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SINGAPORE RUBBER QUOTATIONS.
Mestra. Carroll Bros, are in receipt of a cable from their Singapore friends giving the following quotations and the Information that rubber is $1.45 per:lb. :- Allenbye... Straits $ 3.50 Alor Gajabs Aver Moleks Ayer Panas Balgownies
Bassetts Brogas
Bukit Katils
Indragirie
Jerama Jimahs Kedahs
3.40
3.75
18.50
6.00
1.75
9.10
Bukit Jelotongs
1.50
1.75
Changkat Serdangs
11.00
Connemaras
3.05
Gleanerlies
3.40
11.60
1.85
2.00
4.70
in ·11.50
4.50
19,00
3.75
6.00
1.05.
15.00
15.30
16.00
10.60
1.85
55.25
4.50
6.00
30.00
1.85
Kempas Kuala Sidims, Lunas Malaka Pindas Malakoffs
Mandai Tekongs Mayfields
Now Serendaha ̈ Nyalas
Pajams Punggors s Bandycrofts. Beudais
Sungei Bagana".. Tapahs Tambalaks
Taluk Ansons ...
18:50
United Malaccas..
3.50
5.85
Price of raw rubber $1.45 per lb.
Utan Simpana