Page
THE UNITED ASBESTOS ORIENTAL AGENCY, LTD:
Tal. Central'236.
2, Queen's Bulidings.
SOLE AGENTS FOR
THE HONGKONG DAILY PRESS," SATURDAY, MAY 29TH, 1926
BELL'S UNITED ASBESTOS CO. LTD..
MANUFACTURERS OF
"Victor Metallio." "Dagger," "Quadruple and
"Reefer" Packings.
Bell's Asbestos Compositions.
"Salamander" Engine & Cylinder Oils.
"Salamanderite Jointing."
ANCHOR BRAND
.
THE CORDAGE YOU CAN. TRUST."
PURE MANILA
MARINE ROPE
TRANSMISSION
OF POWER ROPE
CABLE LAID
HAWBERS
WELL DRILLING
CABLES
ESTABLISHED 1854
YNCHAUST
ROPE
ROPE.
FACTORY
MANILA
RUPES OF ALL SIZES FOR ALL FURPOSES
MADE FROM FURE MANILA
HEMP
MANUFACTURED
BY THE MOST
MODERN
MACHINERY.--
STOCKS ON HAND OF ALL SIZES) ENQUIRIES SOLICITED
HONGKONG OFFICE:
FACTORIES:-MANILA, P.I.
KING'S BUILDING. TELEPHONE CENTRAL *3165.
AP.B.
STAR THEATRE,
KOWLOON.
FOR 3 NIGHTS ONLY
|
Sunday, Monday and Tuesday, May 30th, 31st, and June 1st, at 9.15 p.m.
ARNOLD STERN
PRESENTS
"THE "MURA SHIPOFF ART BALLET. COMPANY"
WITH
Miss MURA SHIPOFF, THE INCOMPARABLE BABY
PAVLOVA and Mr. GEORGE SURMI ́....
ONE OF THE GREATEST CELLO-SOLOISTS OF TO-DAY.
3
COMPLETE CHANGE OF PROGRAMME NIGHTLY. Prices of Admission-88, $2 and $1. Booking at Moutrie's and Star.
GAS
·FOR COOKING
saves
Labour and Money;
means
Better Cooking and
Greater Cleanliness;
an always
Willing Servant.
The Smoothtop Gas Range
In three sizes, merits particular attention.
HONGKONG & CHINA GAS Co., Ltd.
Showrooms: West Point. Tel. C. 47. 18, Des Voeux Road Central. Tel. C. 4704.
[L.F.B.]
COMPANY MEETINGS.
UNION INSURANCE SOCIETY OF CANTON, LTD., AND CHINA FIRE INSURANCE CO.
REFERENCE TO DEATHS OF MR. P. H. HOLYOAK AND SIR PAUL CHATER.
EXCELLENT FINANCIAL POSITION REPORTED.
The annual meetings of the Union Insurance Society of Canton and of the China Fire Insurance Company-the fifty-third and fifty-seventh respectively-were held at the Companies' Head Offer, Union Building. yesterday morning. After reference had been made to the loss the Colony had sustained by the deaths of Sir Paul Chater and Mr. P. H. Holyoak, the Chairman"presented reports of the year's working which were very encouraging to the shareholders and showed both companies hold au exceedingly strong inancial position. UNION INSURANCE SOCIETY OF
CANTON, LTD.
Exchange at the 31st December, 1923, be- ing taken at 2/4.3/8 as compared with 2/3/4 at the 31st December, 1924.
The large increase in our Re-insurance Fund which stands in our Balance Sheet 14 £2,418,070 12%, lud, is partly represent ed by the premium on the new shares issued.
Our Investments have been taken at the market prices ruling on the 31st Decem- ber last.
Mr. Plummer presided and ong those present were: The Hon. Mr. A. O. Lang, Mr. W. Pattenden, and Mr. T. G. Weall (Directors), Mr. Paul Lauder (Geheral Manager), and the following shareholders:-Alessrs. J. W. Alabaster, G. S. Archbutt, J. M. Alves, Frank Austin, A. E. S. Alves, J. Arnold, Hoa., Mr. Mr. H. W. Bird, Messra C. C. Turning to the Working Accounts you Black (Representative of Butterfield & will note that the Interest for the year Swire), J. Bensley, D. H. Cameron, B. 19 amounted to, £993,974 188, 7d. and the M. C. da Cunha, P. S. Cassidy, H. B. L.. Interest shown for the year 1923 amounts Dowbiggin, R. A. Dastur, Dr. G. Digby, to £93,021 18s. 6d. only. I would explain B. M. Ede. John Fleming, J. Gardner, however that there, are still several ad- L. Gibbs, G. Grimble, H. . Gray, L. Editions to be made to the 1995 Interest Hopkins, Ho Fook; Hou, E. C. such as Dividends from aliated Com- Hudson, Ho Leung, W. A Hannibal, panies, ete Ho Kom Tong, Hongkong. Canton and Macao Steamboat Co., Ltd., W. J. Hawker. Ip Lan Chuen, W. E. N. Koch, C. "Kaight, W. Logan, Lo Chung Wan, G. B. Layton, C. Lauffrentz, G. Murray, E. A. G. May, C. V. Mark, C. E. Meyer, W. R. Mans field. F. L. Marques, S. H. Michael, G.mitments.. Miskin, A. W. Mackenzie, A. Nemazee, J. Ormisten, Sir Henry E. Pollock, K.C., Messrs. R. D. Read,, . Ruttonjec, O. F. Ribeiro, V. R. V. Ribeiro, C. A da Roza. P. M. N. da Silva, W. L. Shen- ton. D. V. Stevenson, F. P. V. Soares, A. Stevenson. Sum Pak Ming, Dr. J. H. Sanders. Messrs. R. Sutherland, A. H. M. da Silva. F. W. Stapleton, W. J.. Stokes. Prof. C. A. Middleton Smith, Messrs. M. A. R. Souza, A. Sommerfelt, F. B. P. Silva. J. H. Taggart, J. F. Wright, Junior, W. J. G. Whiley and G. M. Young, M.B.E.
The Propium Income for the year 1943 18 compared with the Premium In- come of the previous year as. at 31st De cember, 1924, has decreased by appro- F.ximately £300,000. This diminution in
Premium is primarily due to curtailment : of American Fire and Automobile com-
THE CHAIRMAN'S SPEECH The CHAIRMAN said: Gentlemen,-Be fore commencing the formal business of this meeting I would refer with deep Borrow to the death of Mr. P. H Holyoak, who as you are well aware for it great number of years was a Director
The item of Commission paid as per the Accounts also shows a marked de- erease and this is similarly explained by the curtailment of our American busi-
DESK..
The Balance of the Working Account for the year 1925..amounting to £510,247 135. sd may be considered satisfactory.
MARINE BUSINESS.
Our Marine Business has been conduct- ed during 1925 under the somewhat di eult conditions which have characterized this class of insurance during recent
years.
The market is still large and the amount of business restricted with the result that competition is severe and rates in consequence continue to show a Another matter downward tendency. still causes concern to Underwriters, and which my predecessor in the Chair re- of this Company and its ardent sup-ferred to last year, is the introduction, porter. The late Mr. Holyoak's public largely as the result of competition, of activities are well known to you. He risks of nature altogether outside the was an entirely plucky, public spirited al secpe of marine insurance and for and kindly man. Prosperity or adversity which in many cases inadequate rates are
paid. never changed him and he was always a loyal friend.
Individual Marine losses of magnitude and total losses have been less a feature than the many smaller but nevertheless serious losses which often escape public natice soon fude from memory. Among the latter" I would mention the unusual number of serious fires in which valuable cargoes have been involved.
or
The General Manager shewed me yes terday a private letter he had received from the late Mr. Holyoak posted from Colombo in which Mr. Holyoak mentions his extremely indifferent health. In Sin gapore he was very far from well but in spite of this be found time twice to call upon a young Hongkong man seriously in the Singapore Hospital.writers themselves endeavouring, by co- I mention this small incident, Gentlemen,
because it denotes, the man.
I am glad to say, however, that in some directions there are signs of Under.
operation, to place the business ou profitable basis, particularly in the Huil market in which improvements have beer. brought which may later bear fruit.
#
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SUPER
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WITH
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NAVARRO
WALLACE BEERY
A STORY OF BRITTANY AND PARIS.
THE
STAR
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HOUSE PETERS
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THE
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נו
CLAIRE WINDSOR
"THE ETERNAL THREE.'
IN
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Coates
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OBTAINABLE EVERYWHERE.
ancouver Island
We specialisoin high class residen-
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request.
RP-CLARK&Co
REAL:ESTATE-INSURANCEÄNVESTMENTS
Victoria & Vancouver
I would refer also with deep sorrow to the death of Sir Paul Chater well known to us all Sir Paul was one of
Your General Manager visited the our oldest and most respected residents United States of America last year in Engineers who carried out the work of and he has rendered this Colony distin connection with our Fire and General construction to its present satisfactory guished service.
Business there and during his visit con- | completion." The sympathy of this meeting is exsiderable re-insurances were effected on tended to the bereaved families.
the Automobile Account,
THE WORKING ACCOUNT. ··
410
HONGKONG STOCK EXCHANGE,
CLOSING." QUOTATIONS.
Hongkong Bank.........
Do
Chartered Bank
MAY STE, 1926.
$1,100 buy.
London123.com.
£20) nom.
Marcantile Bank, A. & B......£30 nom.
Day
P. & O. Bank
East Asia Bank
Caston insurance.
China Underwriters
Union Insurance
North China Insurance
......213) num.
.9 nom.
..$600 bay.
$1.90 set
145
Hom.
buy.
Yangtze Insurance ...................................$371⁄2 bay. · China Fire Insurance
... bay.
Hongkong Fire insurance ...$560 bay.
U. & M. Steamboste...-4 bay.
Tags.....
Indo-Chinas (ProL)
"Do
(Del.),
Shell Transports Star Ferries...... Waterboats...... Chine bugars Malabou Bugar Bangusts.............. Aala Mining Au Langkats (combined) Lo. (single)....
Explorations.
$28 num.
...teh
..$20 nom. ..$46.num. ..87/6 nom,
..361 boy, 62 sel
$15 nom.
$241 nom. $35 nom.
42)--buy. Ti. 241 buy.
bay.
Tis. 12 bar. Tia, St
Tix. ? pom..
Handsome offices have also been erected in Bond Street,, Sydney, Australia. The The nett Premium Income for the year building is a fine example of steel struc- ture work and was erected by Messrs. Continuing, the CHAIRMAN said: Gen-has, as I have already pointed out, been tlemen, The Working Account for the reduced in consequence of these re-insur Kell & Bigby under the supervision of year 1924 after payment of an Interim ances. but I am pleased to be able to state Messrs. Ernest A. Scott & Green, archi- Dividend of 24/- per share and a 20 pered that a considerable saving had result- and brick, and contains
that the final outcome for the year show-tects. It is faced with Hawkesbury stone + basement. cent. Bonus to Contributors shows that ed from the arrangements made. The ground and eight upper floors. The the balance available for distribution Society's Business in the United States official opening ceremony took place on Raais amounts to £302,003, 2s. 6d. and your of America is receiving our close con- the 18th November last and was attended | Trondă „Mimos Directors "recommend that this balance should be dealt with a follows:-
by many of the leading members of the Ural Caspisas community. The prosperity of the So- HK. & K. Wheris.. ciety was proposed by Mr. Dunlop, Pre-HK & W. Docks sident of the Chamber of Commerce, Hongkw........ supported by Sir Alfred Meeks and New Engineerings. Shanghai Duck.... HK. & S. Hotels Hongkong Lands Longkong,
Healtys (6.p.).
..157 buy, Territorials (1.p.).... Humphreys states.disi nom. Prince's Building. Bural lands
+
A Final Dividend to Shareholders of 18. per share on 135,000 shares
A Bonus Dividend to Shareholders of 5- per share on 135,000 shares
To be carried forward to Underwriting Sua- pense Account to close the Account for the year
£108,000 0.0
33.750 0 0
15
100,343 The balance of the Working Account for the year 1925 amounts to £510,247, 155. 8d. and your Directors recommend that an Interim Dividend of 24/- per share shold be paid to Shareholders absorbing £102,000, a Bonus of 20 per cent. be paid to Contributors of Business on Bonus terms amounting approximately to £30,000, and that the remainder be car ried forward.
sideration."
Fire and General Business written by the Society and its affiliated Companies in other Fields showed that the Income was well maintained.
others. "
8/-DOSU.
$126 Bal $55
Tin, 179 buy
Tls. 5.90 nom. Tis. 1964 nom. $10.40
.... nom.
10.30 sa
- HONGKONG HOTEL FIRE,
POSITION TO BE PROUD OF. A recent loss of local interest was the Hongkong Hotel Fire which occurred on Tarning again to, the Balance Sheet, the 1st January, 1028, and in connection I feel sura you will agree with me that therewith I would like to refer to the we have reason to be proud of the fine excellent abgistance rendered by His Ma- | position these figures indicate, and they jesty's Naval and Military Forces in sup-will no doubt be viewed by you with plementing the Fire Department of the utmost satisfaction. (Applause) Bwo Cottons
Orientala Hongkong
I am sure you will heartily approve our Shanghai Cottens (old)s. 53 buy, (Applause.) It was with deep regret that your Directors learned following the usual custom of voting a of the death of Able Seaman Bachelor in bonus of 13 per cent. on salaries to the Amusements
. (now)................Tis. 29 bay, credit of the members of our staff hoid-Canta Ice the course of these operations.
ing Provident Fund Agreements.
Cements (combined)......
1o. (old} ....
(new)
Do.
The position, gentlemen, not only re- flects the greatest credit upon our staff, who have given devoted and unstinted Chima Bus ....... service, but also upon our General China Lights (combined). Manager Mr. Paul Lauder, for the ex- tremely able manner in which he has conducted the Society's business dur- Cham ing a period of unusual difficulty. (Applause)
Do (old)".....
(NOW) Providents Constructiona Dairy Farma Ler A Wing (E.p.). Hongkong Electrica Mario Meotrim. B.K.
495 BOEL
nom la. 10 nom.
Tis, 3 nam
$11 nom.
47 nom.
..$147 aəl.
18 now 33 nom.
Mia, 11.30 buy, $18 com.
..$18 boy. ..syt buy.
bay. wte442,hart,
SLY BEL
So buy.
aa
cta, nom
$30 set,
We all deplore the boycott against British trade in Canton, but I cannot, believe that the people of Kwangtung will continue to submit for any length of time to the illegal activities of a small section of their community. This Bo ciety has had honourable and friendly The Board further recommends the intercourse with the Cantonese for very transfer from the Re-insurance Fund of many years, being first established in £73,000 to the credit of the Sterling their pacient City in the year 1835, some Reserve Fund, which will increase this years before Hongkong passed to the During the year Mr. G. S. Archbutt, Fund from £22,000 to $300,000 and de British Crown. In my opinion, gentle who has had long service with the So- crease the Re-insurance "Fund from men, there is no illwill between the city and its affiliated Company, The £2,418,070, 128. 10d. to £2,340,070, 15, 10d traders of Canton and those of this China Insurance Co., Ltd., was, promet-
Turning to the figures in the Balance Colony and that they as well as we desire ed to the position of Fire Manager and Do. Sheet you will notice that our issued the resumption of peaceful business re-we feel sure you will be plenaed to learn,
Do. Capital has been increased by 24.000 new lationship and the re-establishment of of the appointment. (Applause.) shares, which were issued and allotted in the old trade conditions.
Before concluding my remarks T-would Fans Owlords..
Hongkong Tramways accordance with the resolution passed at You will be pleased to learn that the refer with sorrow to the death of the late Macintosha... the Extraordinary General Meeting held Singanore offices were opened on Ratur- Mr. CW. Darhishire of the firm of Peak Trams (old) on the 19th March, 1925, in respect of day, the 28th September last, Mr. J. Messrs. Paterson, Simons & Co., who was Da. (new). the exchange of shares in connection with Lobie, Manager of Messrs. Boustead & a Member of our London Committee. The Sinceren the amalgamation with The Yangtze Co. performing the opening ceremony. news of his death was received through Tan Insurance Association. Limited. 24 per This building is constructed of ferro-con- out the East with, deep regret. share is paid up on the Society's abares crete throughout, covering an area of I now propose the adoption of the Watsons (oll) and our paid-up Capital has therefore 20,552 Muare feet and consists of 7 floors Report and Accounts, and when this has W. Lowells... been increased by £4,000.
equipped in the most modern manner. been seconded I shall be glad to answer Singapors fractions Great credit is due to Mesars. Swan & to the best of my ability any questiona MacLarea, the Architects. for designing you may wish to sak
buy-buyers; sel-seliers; such a fine structure and to the. United
(Oontinued on page 4.)
The Sterling equivalent of the Rociety's Silver Reserve of. 83,000,000 is £254,687, 10. as compared with 2346,875 last year,
Doremmed). Hopes (combined).
·(oid)" iera {DOW)
$10 sel
31 bay, 3101 sel
$194 nom.
27 buy.
buy.
$3) sei,
"United Asbestos
V nad
$12,65 buy. $10 hom
35 sel
nom,nominal,