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SPECIFY
S. K. F.
BALL BEARINGS
ON ALL MACHINES, YOU ORDER.
We can supply Bearings for all kinds of Mashines,
NO HOT BEARINGS.
POWER SAVING,
SELF ALIGNING.
THE
HONGKONG DAILY
REQUIRE LESS ATTENTION.
ORIENTAL AGENCY, LTD.
THE UNITED ASBESTOS
SOLE AGENTS FOR HONGKONG.
Tel. Central 236
Address: 2, Queen's Building.
ANCHOR BRAND
PURE MANILA:
ROPE.
"THE CORDAGE YOU CAN TRUST,"
MARINE ROPE
TRANSMISSION
OF POWER ROPÉ
CABLE LAID
BAWSERS
WELL DRILLING
CABLES
ESTABLISHED 1854
YNCHAUST
ROPE
FACTORY
MANILA
STOCKS ON HAND OF ALL SIZES
68
RUPES OF ALL SIZES FOR ALL PURPOSES
MADE FROM· PURE MANILA KEMP
MANUFACTURED
BY THE MOST MODERN MACHINERY.
ENQUIRIES SOLICITED.
FACTORIES-MANILA, PI
HONGKONG OFFICE:
16
KING'S BUILDING.
TELEPHONE CENTRAL 3165.
SOUTH CHINA KNITTING FACTORY. THE MOST MODERN KNITTING FACTORY IN HONGKONG.
Exporters of Highgrade Cotton Socks are invited to Send for particulars before dealing elsewhere.
OFFICE
AND FACTORY
UABLE ADDRESS:
MONGKOK, KOWLOON .595. SOUCHIKNIT, HONGKONG;
AP.B.
THE WARM WEATHER IS HERE.
GAS
FOR COOKING AND BATHS. SAVES TROUBLE, SAVES TIME. SAVES DIRT.
All the latest Gas appliances can be inspected at the Hongkong and China Gas Co's showrooms, 26, Des Vœux Road Central and West Point,
•A.P.B.
THE NAVY'S
Coates
CHOICE
ORIGINA
PLYMOUTH GIN
OBTAINABLE EVERYWHERE.
SAIGON RICE MARKET.
The Compagnie de Commerce & de Navigation, D'Extrême Orient of Saigon reports under date March 9th:
Our market Eas an upward tendency for rice owing to weakness of paddy supply and a strong demand from China.
The market is quiet for brokens. The market of Java remains dull with a down. ward tendency. Business with France is positively impossible owing to continual Huctuations of exchange.
The total amount of rice exported from 1st January to 28th February, 1926, in 179,429,3 tons "against 167,190,519 in 1925.
We quote to-day white Saigon rice No. 2 per cent, brokens round grain: Hongkong $ per picul of 134 lbs. f.o.b. Saigon; £13 8. per cwt. fo.b. Saigon; Yen 9 per picul of 134 lbs. fo.b. 'Saigon.
White Saigon rice No. 2 sifted Japan quality, Hongkong 80.70 per piest of 1310lbs. fo.b. Saigon; £13 18. per ewt. f.o.b. Saigon Yen 860 per picul of 134 Ibs. to.b. Baigon
For March/April shipment.
Paris
EXCHANGE RATES.
(BAITIX WIRELESS, SERVICE, J
Brussels
Amsterdam!....
Berlin Copenhagen
Vienn Helsingfors
Lisbon...........
Buenos Aires
410
PRESS, WEDNESDAY
COMPANY MEETING. EWO COTTON MILLS, LTD. NOT UNSATISFACTORY YEAR. THOUGH MILLS IDLE NEARLY FOUR MONTHS, PRESENTATION, TO ME BROOKS-EMIT" ON RETIREMENT.
The fifth ordinary meeting of Ewo Cotton Mills, td, was held on March 12th at the offices of the general manu Kers, Messrs. Jardine, Matheson & Co. Ltd., Shanghai, Mr. A. Brecke Smith presiding.
MARCH 1718, (026
CHINESE SUPERANNUATION FUND,
I also desire to bring to the notice of the public that during our record years we built up a substantial Chinese super- annuation fund entirely out of profits, which is annually being expended for the benefit of old servants and relatives of those who die in our service.
It was not until the end of September that a settlement was reached, largely through the efforts of two members of ydur Consulting Committee,
Messrs.
Wee Ling Shu and Dan Ching Peo and the Chinese General Chamber of Com merce, to whom our sincerest thanks are
The Chairman addressing the share. At the beginning of October our mill were once again running at full pressure and save for one or two minor holders said:---
strikes of short duration, caused by mat ters wholly unconnected with conditions the mills, work has since been un- interrupted.
Considering the troublous times we encountered during 1023 and the fact that our mills were practically idle for four months, I think you will agree that the working result may be deemed not unsatisfactory, showing as it does a vast improvement on the preceding year.
I will now proseed to comprat briefly on. the proposed allocation of profits as recommended in the report before per cent on the you. The dividend of preference shares, absorbing Tis 72,000 is in accordance with the terms on which The deprecia- these shares were issued. tion of buildings by Tls 35,000 and plant and machinery by Ta. 151,000 are based on approximately the saw rates as last year and they have the approval: of our auditors. The amounts written oil water supply, furniture and motor ear do not call for comment.
WACES IN BEASED.
Commencing from January at wages mills have been in- throughout our creased, which, needless to say, will add considerably to working costs.
UEEN
QU
SUPER
TO-DAY
S
1
ONLY,
NEWS.
LATEST - TOPICAL
MOTTE de la MARGUERITE LLOYD HUGHES AND FRANK KEENAN IN
"SCARS OF JEALOUSY”
A THOMAS H. INCE SUPER SPECIAL.
WANDA
WILEY
IN
"WINNING FAIR.”
It was no little disappointment to your general managers that the Shang- ing Child Labour were not passed owing hai Municipal Council's byclaws regard- to the lack of a quorum at the mesting you that we use our best endeavours to called to consider them, but I can assure keep out of our mills children below the age limit fixed by us in 1923. Should Council we shall give their resolutions this matter be brought up again by the
mised at our meeting a year agh, our wholehearted support as was, pro- AMIE MAYNARD and HER ROYAL
At the beginning of 1925 there stood
For the first few months of the year at the credit of special repairs qud ru newals fund Tls. 20.4594, but, as fore shadowed in my speech a year ago, this we experienced a period of steady trad proved insuficient to meet our expening, February in particular being very diture on this, account by Tle. 13,111,80,active and both our sales and clearances high was debited to the 1923 working were greater than for a long time pre- account. By appropriating Tis. 40,000 to viously. Inter the causes I have already this fund we shall be able to carry out enumerated brought about a decline in
the volume of business. the more urgent special repairs and re- newals at our mills, but this sum will tint enable us to do, as much as we should like during 1926..
The proposal to pay a bonus to the Chinese and foreign staffs at the mills will, I am sure, have your approval. Ec has been well earned and I regret that A larger grant is impossible, as mang of our permanent employers have experi- enved particularly harassing periods during the year under review.
TLS. 317,730 PROFIT
1
EFFECTS OF BOYCOTT.
THE
STAR
TO-DAY ONLY.
THE WORLD
TO-DAY
AT 515 AND 9.15 ONLY.
RICHARD BARTHELMESS
HAWAIIANS
ALSO
GASTON GLASS in " OF LIFE."
THE SONG
IN
44
SONNY."
INVESTMENTS
WE BUY:--
When in July the Municipal Electri- Hong Banks city Department was obliged to stop pro- P.&O. Banks siding power to Chinese mills, a sharp Hong Amusements advance occurred in the price of yarn, Union Insurances but unfortunately, owing to the boycott Malakoffs against British goods, under which cate gory our products were placed, we were! position thus created, unable to reap much Lenefit from the
While this boycott has since been raien in nost districts it is still active in te our largent markets, Kwantung and Szechuan, and until such time as consumers in those districts resume träd. |
The four months' stoppage cost our workers alone over $500.000 in wages.
Steamboats.. Watsons Ferries
New Cementa Electrics
WE SELL
Cements combined Developments
Malaka Pindas
Lane, Crawfords
Trams
Constractions
No Lot Too Small No Lot Too Large.
Taxis
**Lunse
Raubs
Jurame
[125 HONGKONG SMALL INVESTORS SHARE & REAL STATE CO.
10, Des Voeur Road Txi. 4830.
COMPANY REPORTS. HONGKONG ENGINEERING & CONSTRUCTION CO., LTD.
1923.
HONGKONG STOCK EXCHANGE,
est nom. $79 buy. $620 bay, 625 sa.
com. Els. 145 nom, $295 bar.
#14) buy.
165 buy.
bay.
sze buy.
1.8 buy.
..$30 nom.
. nom.
Except for the sum of Ts. 1.142.22,
CLOSING QUOTATIONS. which will be carried forward. the allo- cations recommended abror the profit
Manca 16TH, 1926. of Tls. 3o.se, but in order that, ing in our products we shall be obliged holders of mrdinary shares way perive to continue to manufacture for other
The Report of the Board of Directors Eorghong Bank $1.045 buy., 1,015/50 ss..
Du...
Londen...£126 nom. a small return on their investment your markets as at present
The fally of boycotting such concerns Consulting Committee recommend that Tls. 25.000 he withdrawn from our
Your Directors herewith submit a state. Mercantile Bank, A. & B... £o buy. 0.....£13) bar. Do., 20. Bank equalization of dividends fund to allow as ours should be, but apparently is not to be presented at the fourth ordinary bulk of the shareholders are Chinese; we of the payment of a dividend of Ts. patent to the meanest intelligence. The yearly meeting of shareholders states: Chartered Bank.nom.
East Asia Bank. Canton insurance".... 0.95 per share on these shares.. Should i this withdrawal tersanctioned there will employ thousands of Chinese workers toment of accounts and balance sheet for
After writing off 843,496.70 for depre- China Underwriters grown by Chinese still remain at the credit of equaliza. whom we pay some 81,500,000 annually the year ended on the 31st December,. &0.
tities of cotton tion of dividends fund Tls. $75,000, while wages: our pills consume large quan our general reserve fund remains at Tla farmers, transported in Chinese vessels ciution, which is charged in the working North China Insurance 2,000,000 and the cotton fluctuation fund at Tle. 500,000, a total of Tis: 3.375,000, and marketed by Chinese merchants, not account, the profit and loss accouns, Union Insurance
to speak of our finished products which far as it relates to contracts completed Yazgtsze Insurance.
Dougisees It is estimated that the amount at give employment to large numbers of during the year, shows a credit balance Crias Fire insurance.
progress, your Directors regret to report H.K., U. & M. Steamboste credil of the Chinese superannuation Chinese before reaching the ultimate of $70,101.23. As regards the works in Hongkong Fire Lasumnes...8560 buy. "fund is ample to cover all abilities to summer.
that the expenditure during 1995 in con- nection with the contracts made in 1923 Hosgkong Tugs the Chinese staff, and therefore no fur
Do (Lef.); ther additions to this fund are required! for the time being.
It is to he hoped that the authorities with the Hongkong Government has been Indo-Chinas (Pref.) ...... in future take drastic steps to curb so greatly in excess of the returns that Shell Transports........ the activities of professional agitators, it has been found necessary to debit the Star Ferro and that labour will look on these para profit and loss account for 1923 with a Waterboats...... sites, as in truth they are, as their further sum of $220,000 on account of Oriental Navigations enemies. I have sufficient confidence in estimated losses to the 31st December, China Sugars..... the good sense of the Chinese operatives 1025, on three unfinished contracts. This Malabon Sugars to believe that the time is not far distant together with the $250,000 charged to the Bergucts..
Do. (single) when they will refuse to listen to the 1924 account makes a total of 8470,000 Kailan Mining Ad..
of works in progress, as shown in tho
Shanghai Exploration noisy minority and obediently obey their which has been deducted from the cost Laughats (convined).... behests.
balance sheet.
The result of this is to leave a debit Shanghai Loans
Tronoh Mines. balance for the year 1995 of 8149,898.75 Ranos...
Urs! Caspians to which must be added the debit balance brought forward from 1924, amounting H.K. & K. Wharfs. to $183,660,24, making a total adverse H. & W. Docks. 8333,458.99 which it is proposed to carry New Enginerings Shanghai Docks.. balance to the 21st December, 1996, of
Directors-Mr. J. Scott Harston and BK. & S. Hotels Lands forward to next year.
Hongkong H&K Tertitorials (1.p.).. Humphreys Eetstes.. Baral Lands Prince's Building...
Additions of buildings and machinery have been made only where it was, thought necessary and where such add tinns might add to the immediate pros. perity of the company.
GOODS UNPAID FOR AT PEKING.
The amount due from the Chinese Gov. ernment stands at Tis. 169.530.43, an in- crease of Tls. 2,26.09 over last year, due to the fact that payinents in 1925 were
After dealing with Various subjects less than the interest accrued during that time... That such a large debt should relating to the industry the Chairman be owing on account of goods long since said: consumed is a confession of the deplor
The prospects for the present year are able state into which this country's
Cotton is at a reasonable: finances have sunk.
Tis uncertain. Expenditure on interest 17.833.46 against Tis. 53.103.57 for the price, and the country is not overstocked previous year; this improvement is dus! with cotton goods, although there are larger quantities of yarn than we cate
analler stocks.".
Was
PRESENT PROSPECTS.
10/3 buy,
$55 nom.
$16 buy.
$150 num.
$28 nom.
пош
$39 nom. $1 nom. 52/6 bay. Tis. 23 boy, Tha: 11 buy. Tls. 5 sel. Tis. 7 nom.
.85 buy. ..65/. bay.
8/. nom.
$131 buy,
502
Tis.
buy.
170 "bay.
Tis,
6 bay,
1ls. 98 bar.
$91 bay, 9.10/55 sa.
...8034 buy,, 641 so.
..$1st boy.
$105 sel
..17 nom.
to our having, en the average, carrito see in Shanghai, but the political out the Very Rev. Rather Robert retire by | Bangko Renitys (C.P.)......35g bay..
Stacks of cotton have been taken in look, on which so much depends, leavea rotation and, being eligible, offer thema- $ Auditors. The accounts for the year at cost in accordance with our usual a great deal to be desired. Given a
period of peace, sufficient to revive the selves for re-election. practice, but the potential loss on our
I see no reason why am Bingham & Matthews, Chartered Account- supplies of Indians and Americans confidence of merchants throughout the have been audited by Mesars. Lowe, approximates Tis. 100,000, or about the country,,
derately successful year should not be
for re-election. same as a year ago. So far we have experienced,, but so long as wors and. ¡ants, who, being eligible offer themselves Ewo Cottens avoided drawing on our catten füctus what is almost as disastrous, rumours tion fund, but I would like to make the war are rife we cannot hope to see reservation I did last year that should the cotton mill industry flourish. our working for 1928 shown loss it may to encroach upon this be recessary теветуе.
DISAPPOINTMENTR.DURING 1925.
ROOT, SHEWAN,
Chairman.
HONGKONG FIRE INSURANCE Gentlemen, as this will be the last oc-
CO., LTD. casion on which I shall have the plea- sure of addressing you-I am retiring
The Report for presentation to the from China, next mouth-I should like At the beginning of the period under to conclude by expressing the sincere shareholders at the fifty-seventh ordinary review it appeared that there was some hope that the very trying times we have meeting of the Company, reads:-
The General Managers and Consulting justification in expecting a better year's been and are experiencing will shortly trading than was experienced during be followed by years of prosperity. I
to the shareholders the fifty-seventh an clear; the political situation was hetter tion of the unfailing courtesy and 45 nual report of the Company 1824. The horizon was comparatively, also desire to record my keen apprecia-Committee have pleasure in submitting Working Account, 1924. This account sistance that have always been extended than it had been for some time past and the country was bare of stocks of manu
to me by my fellow workers, both British fnetared goods.
and Chinese, in building up the mills of shows a surplus of 8534,856.09.
Thx. 8.40 buy,” Tis. 3 nam.
Orientals..................... Shanghai Cottons (old)...ls. 54 bay.
Do. (now). Amnsements Canton les e Ceniente *(owmbined).
Do. (old)
(дем)
China Buses Uhina Lights (combined)
Lo.
(old).... Do. (LEW)
Constractions Dairy Farmsente Der A Wing (15.) Hongkong ectrica Macao Electrics......
China Providents
Do.
(old). Do. (DOR)....... Hongkong Telephones. Hongkong Tramways Mackintosh........
Urawfords..
Peak Trams (old)
(new) (o.p.).
Do.
Taxis..........
s. 28 bay.
11gbuy.
$7+ num.
$1ới nom. $13) bay.
..$3 bar.
Tu. 104 buy.
5 py. $21 buy.
1.88.10.
$0 nom.
"HOT M
310 nom.
*$59 nom.
.25
"eth ets, nom.
...
nom.
$3.49 buy.
Idir
$25 BR
$10 buy. 8211 kom.
$18 bay.
7 buy.
Our optimism, unfortunately, was which you are now the proprietors. You-Reserve Fund.-It is proposed. to approH.K. Deralopments.
reserve will then stand at 82,100,000. To-day's exchange rates are as follow short-lived. In the North and South will perhaps realize that my retirement priate $100,000 out of the profits of the
dark clouds began to gather and a tinged with regrets, as I am severing year 1921 to the credit of this fund. The H.K. Bopes (combined) $30
Reinsurance Fund-It is proposed to famine in Szechuan interfered with the an association dating back to 1897, when off-take of our yarns; then came the I arrived in Hongkong, and was con
2/42-8120,658.09, out of the profits of the incident of May 30th in Shanghai, nected with the erection of the Hong- appropriate £15,447, 78, 3d, at exchange followed later by the strike and boycoti, kong Cotton Mill, which inter was rape year 1924 to the credit of this fund. The and by civil warfare in the neighbour- ferred to Shanghai and forms the major fund will then stand at £213,904 08. 7d.
Dividend-The General Managers and ing provinces and the North during the portion of our Yangterepoo Milla. The cotton mill industry in China was in its late summer and autumn.
Due entirely to intimidation from infancy at that time, but it has made Consulting Committee have pleasure in Sincerases
Working Account, 1925.-The balance without the Yangtzepon Mills closed great strides since, and while many may recommending a dividend of 838 per down on June 2nd, while the following be pessimistic about the future of the share absorbing 8304,000. day the Ewe Mills also became idle industry, I have no hesitation in pro-at credit of this account is $590,782.41.
Consulting Committee. The Hon. Sir Kung Yik Mills continued to work until pheaying that with peace in this country, the middle of that month when the well managed mills will prove to be a Pan Chater, C.MG., Sir Robert He
satisfactory investment.
Tang, Messrs. C. Bernard Brown, A. H. workers joined "the other strikern.
Compton, A. 8, Gubbay, T. E. Pearce and H. P. White retire but, being eligible, offer themselves for re-election.
Auditor-The accounts have been nudited by Mesara. Lowe, Bingham & Matthews and Percy Smith, Seth &
Shanghai Yokohama
135
1179
12.13
20.24
18.49
34.50
193
21
448
3/01
1/101
4.88.1/16
25.95
1214
19.13
29.98!
184
34.40 7.3/16
1/63
2/3
30%
Biiver (forward)
301
New York Geneva Milan Stockholm Oslo Prague Madrid
Rio
Bombay
Hongkong
~ Bilver (spot)
It is satisfactory to record that throughout the troubles practically no damage to our property was incurred.
The total output of the Kailan Mining I should like you to know that this was the first rerous strike recorded at any Administration's mines for the week of our mills, clearly showing that our ending February 27th amounted to 30.397 workpeople have been accorded fair, tons and the ses during the period to
67,372 tons.
treatment
·(Continued on acg) Column.).
11
4 sal.
啡
$li nom.
HOM
United Asbestos .....
Do. (now) t Watsons (old) .......
$10 nom #8 L Wm. Powella.........
buy-bayer; selmanliers; sa—-gales ;
nomnomia). Singapore Tractions
Fleming who, being eligible, offer them- ̈ selves for re-election.
JARDINE, MATHESON & Co., LTD., General Managers.