SUN FO CONVERTED.{ CORRESPONDENCE.
FORSAKES M. BORODIN.
EMBRACES CHRISTIANITY
AGAIN,
STUDENTS AND LABOUR.
BRITISH INCOME TAX.
THE HONG KONG DAILY PRESS, MONDAY, MAY 9th, 1927.
[TO THE EDITOR OF THE !' TONG KONG DAILY PRESS."]
CHINA UNDER-
WRITERS, LTD.
CHAIRMAN'S REVIEW OF YEAR'S ACTIVITIES.
Sin, The end of another British | LIFE INSURANCE BUSINESS Income Tax year affords a suitable
GROWING. opportunity for reminding your
(PROM OUR CHINESE CORRESPONDENT.}] readers that wany Brilish subjects
resident abroad are entitled
to
At the third ordinary yearly meeting of shareholders of the claim repayment of tax charged China Underwriters, Ltd, held at upon income received from British
Sarees.
In Canton on Saturday-the an- niversary of the enforcement of the 21 demands by Japan--50,000 stud-
To some extent the relief is de ents and workers attended a demon- pendant on the amount of income stration in which the "imperialists" arising abroad, and it behoves were thoroughly denounced. Simi-ry British subject, so resident to lar demonstrationa were held in taxed by rensen of his British in- come being charged at the full rate of British Income Tax.
other cities.
It is officially stated that the whole of the Kwangtung Section of the Canton-Hankow Railway is now under pro-Chinng military control. Regular service on this line may be expected sometime this week.
make certain that he
not over-
Government
the offices of Messrs. Shewan, Tomes & Co., St. George's Building, on Saturday morning, the Chairman in reviewing the past year's buei ness, mentioned that the Life
Department had grown to be one of the largest Departments.
Mr. R. G. Shewan presided, and supported him were:-Messrs. C. P. Marcel, Mok Ching Kong, C. 4. da Roza and Tang Foo (members of the Consulting Committee), Mr. H. R. Start, FLA. (manager and
Certain British securities such as War Loan, etc., carry the advantage of total ex- tion frums British tax when the holder, being a British subject, is resident abroad. It should be re- membered also that if Foreign or Colonial income passes through the Friends of the inte Dr. Sun Yatited Kingdom, tax will be decretary), Mr. 5. R. Childe (as-
ducted by the Banker or Agent. Residents abroad can anotints deducted.
recover the
Sen in Canton are now satisfied that Mr. Sun Fo has turned completely from the Bolsheviks" in Hankow and will re-cimbrace Christinaity. xix years' pariad-ending on April Claims can now be made for the with which he was once identified 5th, 1927, that in many cases the before joining the "Red" anti-Prpayments may amount to a con- siderable and very acceptable sum. Christian movement. It is reported Yours, etc., that Mr. Sud who is said to have arrived at Nanking will be permitted to take his rent again in the Cen- tral Executive Committee of the Kuomintang.
Owing to past difficulties with the workmen in Canton Christian Col-
W. R. FAIRBROTHER, Income Tax Specialist. 07/68, Cheapside,
London, E.C.2.
ALLEGATIONS AGAINST
CONTRACTOR.
AT STONECUTTERS'.
NEW SOLDIERS STUPID
sistant secretary).
Shareholders present were Messrs. J. M. Alves,, A. Keith, M. A. Toppin, A... Shields, Wong Figueiredo, F. J. Tavarea I Kwong Tin, A. A. Alves, C. Thwaites, Wong Kit Wan, L. B. Gomes and W. H. N. Murdock.
Chairman's Speech. Addressing the shareholders, the
CHAIRMAN said:-
As the Company is conducting business in many currencies buth gold and silver we have on this nevasion converted all silver eur rency figures to dollars and all gold currency figures to sterling at the parities of exchange and then
rate of $1-1s. d. the rate at 31st December, 1928.
TAI WAN BAY.
THE MOTOR BUS SERVICE.
BATHING BEACH TIME TABLE.
It is notified in the Government Gazette that a motor bus service | from the Kowloon Star Ferry to this beach will operate as from May 7th until further notice.
Time Table:-
BANKRUPTCY COURT.
WARRANTS FOR ARREST OF
TWO DEBTORS.
ALLEGED TO HAVE ABSCONDED.
At the sitting of the Bankruptey Court on Saturday, the acting Chief Justice (Mr. Justice J. R. Wood) issued two warrants for the Buses leave Kowloon Star Forry respect of Wan Tit Yung, trading Monday to Friday inclusivo:-arrest of debtors. One was in every 15 minutes between the hours na the Poo Wo Firm, who was to of 4.30 and 0 p.m.
but who failed to appear. have been examined in bankruptcy,
Saturday, Sundays and Public Star Ferry every 15 minutes be Holidays:-Busca leave Kowloon tween the hours of 2 p.m. and
p.1.
Last bus will leave the bathing beeh at 7.30 p.m. daily.
Farca-1st Class 20 cents kingle journey; 2nd Class 10 cents single journey.
eat, and the commission at 8107,505 has increased roughly in proportion. to the increase in new business. If the same rates of conversion hat figure texcluding commission) would been applied the overhead expenses have been practically the have been 80 per cent."
same while the inerente in income would
geings.
said that it
Mr. Agassiz (Official Receiver) |
was clear that the debtor did not intend to attend.
had been warned and had pre- viously attended at his (the Official Receiver's) office. It was alleged against him that he had been guilty of questionable conduct regarding money loan associations and he had evidently absconded,
Mr. Justice Wood issued a war- rant for the debtor's arrest.
The other warrant was for the arrest of Pang Lok Chen, partner in Chik Wah & Company, whose at a previous hearing and who was public examination had commenced
warned to hold himself in readiness to attend-again."
A warrant had previously been partner in this firm, but he had issued for the arrest of another absconded.
A Deceased Master Mariner's Estate.
tion in bankruptcy of the estate of Application for the administra- the late John Melville Anderson, master mariner, was made by Mr. C. Gordon Leask.
last year I predicted that in the In my remarks at our meeting fourth year of the Company's work. ing, L., 1927 the income in the De Partment would exceed all out- That this prediction is by the fact that in the last quarter likely to be fulfilled is evidenced of the year under review the in come has for the first time exceed all outgoings (including claims) the excess being some $10,000,
The deceased, it was stated, had
$23,073 against 894,092 in 1925 and Wing Steamship Company and had The amount carried to establish been a party to a Supreme Court ment of life business account is action for wages against the Man the account now stands at $152,049 lost the case, defendants obtaining at which figure it is unlikely to be
judgment in respect of 81,090. increased so that any further enshaintiff's death had taken place at drain on capital on this account is
sea shortly afterwards,
The application was granted. improbable.
Alleged Abscondings.
lege a movement is on foot among SUPPLY OF COOLIE LABOUR rouverted sterling to dollars at the those intending to return to the school to organize a system of co- operative service. The students will try to do all the work formerly done Jy hired help, and will reduce their playing hours and substitute some forma of necesssary work for sports tractor at the Central Magistracy 31st Derember makes comparison the cost of establishment is not ex-
as a part of recreation.
PEOPLEP
A Chinese foreman, saing his camployer-a Chinese military con- on Saturday, alleged that the cou- The new Commissioner of Justice ng money from the Government.
tracur had been Lolawfully obtain.
in Canton, Mr. Chen Yung, a The defendant successfulty tendered brother-in-law of ex-Governor Hunst month for the supply of coolic Han Min bus decided to improve Stonecutter's Island:
labour to the Military Authorities the present judicial department in The plaintiffs said that he had the Provined. So far his idea of charge of a gang of 20 coolies work- improvement has been to substitute many of his friends for the incun- bents of the several courts in the Southern Capital.
were were intro-
for the defendant. Of this nwa er defendant himself engaged 18, whilst the other two, who plaintiff's clansmen, duced by the latter to the defen- dan:. On April, 20th defendant spoke to plaintiff about taking a gang of coolics to Stonecutters Island on the following morning and suggested that although 20 men were called for by the contract, only 16 should be taken. Defendant ex
The net result of the labour dis- putes in Canton involving the work- ers on the sunning Railway is the unemployment of more than 500 persons. The Canton Mechanics' Union are asking the local authori-plained that the new soldiers were
ties to do something to rcileve the plight of those who cause the trouble by demanding wages which employers cannot pay
An overseas_Chinese_who_recently arrived
Canton City from America was last week relieved of a antchel said to contain valuables to the
stupid people and would not know the difference. They would sign the pay order for 20 coolies just the same.
Plaintiff said that since he had introduced his clansmen to the de fendant, he was morally responsible for their pay, and that was why he and 40 cents for each coolie. was claiming $1.90-$1 for himself Defendant stated that all that the
The object of this is to serure same continuity in the accounts future years as the effect of using different rates throughout accord. ing to the actual rate ruling at the
difficult.
The result of adopting the present basis of exchange instead of the basis adopted for last year's ac counts is to show a book profit on exchange of 839,210 which wo have Curried to rezive schunge and Investment Fluctuation Account. In total the valge placed upon the Company's investments is less than the value at market prices and current rates of exchange at 31st December, 1920.
As we foreshadowed in our re port for 1023 our Life Department has grown to be the largest of our Departments, but I propose to deal with the working of the various De partments in the anme order as on previous occasions.
Marine Department. With regard to the Marine De partment this reflects to some ex- the Marine Insurance Market all tent the unsatisfactory condition of over the world and the amount carried to the debit of Profit and Loss Account after setting up $9,211 as reserve for unexpired
risks was 80,793.
We have gone very carefully into
In view of the annual premium in- come on the books of over $300,000 cessive and we can, I think, look forward to the future of this De partment with confidence.
Accident Department. The Accident Department is small but is growing, the net premium received being 85,947 against $2,822 in 1925 or more than double while the expenses at $5,080 are slightly less than last year.
The amount carried to the debit of profit and loss was 81,838 as com pared with $4,329 in 1925.
The growth of premium income while the expenses are not being increased gives promise that this Department can be developed pro fitably.
A receiving order was granted tioning creditor)-in respect of the to Mr. C. A. S. Ruas (for the peti Hang Fung firm. The reason for the bankruptcy proceedings was atated to be the absconding of two partnere with 895,000. There were. however, substan, ial assets, in the forms of rice in the godowns, book debts, goodwill, etc.
"Gazette" Notifications.
It is notified in the Government Gazette that a third and final dividend of 827 per cent., has been declared in the matter of Fred Normination, Engineer, of Whit- field, Hong Kong, this making a total of 100 per cent.
A first dividend is intended to be declared in the matter of Chan Shiu Tsun, of No. 63, Des Voeux Road Central, adjudicated bank- rupt on November 14th, 1925.
There is one item in the balance sheet calling for comment. You in order to provide for cortain ex- will remember that in June, 1925,
An order for the administration shareholders at a premium of 50 ly trading as Sang Loong & Com- pansion then contemplated a fur-in bankruptcy of the estate of ther issue of shares was offered to Wong Wai Shing, deceased, former- cents and that half this issue was underwritten.
any, at No. 76, Wellington Street, was made on January 22nd, 1927, and Mr. John Hennessey Seth of Bank of Canton Building, Char- tered Accountant, was appointed
The Underwriters trustee of the estate.
amount of nearly 86,006, 1 plaintiff had said about cheating the major portion of this debit stances to take up their share of
One story is that a crook in the guise of detective threatened to arrest him as Red," unless a search was allowed. Other reports suggest that it was simply another case of the confidence trick..
Inhabitants of Paksha, Sunning District, are organizing au elee
the Government was untrue. Plain tiff was not a regular foreman but merely did odd jobs.
Defendant added that the coupons held by the men merely showed they were engaged for the gang. At the end of a day's work the coupons were exchanged for pay
·
Owing to the boycott the issue was not subscribed although the date for subscription was postponed the Company's Murine Business and found it difficult in the circum
several times.
arises from one source from which the issue and bad they done so it business was discontinued as far is probable the shares would have back as September last. The riske been thrown on the market. In the running off in this section, however, circumstances, we decided to cancel have continued to adversely affect the Underwriting Agreement on the figures.
payment by the Underwriters of the With regard to the rest of the full profit $62,500 we should have Marine Business the Underwriting made if they had taken up their appears to be generally, satisfac-share of the issue. The Company, torily, but as the account is a small therefore, lost nothing by the can- une the incidence of one or two
Capital which in the circumstances per man for a half day's work. Hely affects the figures for the year then existing was not required for As the prospect of any consider- the purpose intended. The profit able expansion is not great in viewmium on shares actually issued is so made together with $3,000 pre- of local conditions we have decided
carried temporarily to "Premium on Shares Account, but it forms to restrict our maximum commit ments in this Branch considerably.
chits. Under the contract witness
said he received from the Military Authorities 53 cents per coolic for
CROWN LANDS RESUMP- TION.
BOARD OF ARBITRATORS APPOINTED.
tricity supply company with plant a whole day's work and 40 cents comparatively large claims material cellation except the use of the nation to be paid in respect of the
at Pakhang. Power will be devised from the many water falls in the vicinity.
Saturday was the anniversary of China's necaptance of the Japaneae **Twenty-one Demands" and set apart in Canton as a day of nation al humiliation. The usual mass meeting was held and resolutions passed demanding the handing over of Kwanpchowwan, Port Arthur, Dairen, Shanghai, and other con- cessions held by foreign nations in China
The charge against Mr. Chen Fu Mub, Commissioner of Agriculture and Labour in Canton, who was accused of being a "Red" has been dismissed.
paid the coolies 45 and 30 cents, respectively, so that he had very little profit for himself, and he would be a bankrupt if he had to pay every man whether he worked or not. It was unreasonable to try to obtain payment on the coupons that the coolies held.
The case was adjourned until Saturday.
DEATH OF CHINESE CONVICT,
AFTER SERVING THREE YEARS,
seven
A young Chinese convict, aged 97, died in Victoria Prison Hospital on Saturday after serving some three years of his term. In March, 1924, he was convicted of robbery on two charges and sentenced to yeare hard labour and 15 strokes with the cat-o'-nine tails; and four years' hard labour and five strokes. The sentences were to have run consecutively.
the same year he deve Later in loped phthisis and was, constantly treated by the prison doctor (Dr. Paterson). Since that time he de- clined gradually, and on Saturday he became unconscious and died.
Reports from Shinkwan state that telegraphic communication between that city with Lokchong and Ping shek has again been stopped and that the "Reds" are still causing destruction of life and property.
Captain Hu Ming Chang of the Chinese gunboat Riang Han has been arrested as a "Red" and will be tried by the Canton Military Tribunal. The charge is that he failed to report himself as a "Red sud ask for an official pardon. Cap taff Hu, it is alleged, only received 800 monthly from "Red" funds whereas important members of the party got anything from $700 to accordance 17,000 a month.
evidence..
under review.
The Board of Arbitrators ap pointed to determine the compen- resumption of Section A. of Kow- loon Inland Lot 804 is cost- stituted as follows:-
His Honour Mr. Justice Philip Jacks,
Chairman.
Assistant Director of Public Works Mr. Henry Edward Goldsmith,
It is hoped and anticipated that substantial offset to the amounts Hong Kong, nominated by H.E. this restriction and the discontinearried to the debit of proft and the Governor.
ance of the business before referred to will obviate the chance of a re petition of this loss.
1088.
Of the amount. 887,250 shown in by the Chairman on behalf of the Mr. Lawrence Gibbs nominated the balance sheet as
Outstanding owners, Premium" $18,248 represented Life
The Chairman has fixed. Friday, Premium Receipts in the hands of May 13th, at 2.15, at his Cham- Agencies not reported the date
bera, The Courts of Justice, as
Fire Department. With regard to the Fire Depart ment the net premiums received of the account: Of the balance of the time and place for the Board during the year amounted to 885,771 869,041 only $2,000 remains out to commence its sittings. ́ and commissions received to $34,808 standing.
in the early part of the year our tion, muse sittinge of the Board, Any person claiming compensa- against premiums of $31,030 and
before the commence- commissions of $38,727 in 1925. Manager, Mr. Farrant, found it
ment
The sum of 48,842 is carried to necessary for domestic reasons to transmit to the Colonial Secretary, the debit af profit and loss as com reside in England and we regret a written claim stating the nature pared with a debit of 33,998 in 1924 fully acceded to bis roquest. Mr. of his right or interest in the land and a credit of $20,048 in 1996 so Sturt, the Company's Life Manager, and the amount which he seeks to that from the Company's commence was offered and accepted the posi- recover. mont after setting up reserves for tion of Manager and Secretar". unexpired risks of $32,301 the
Other Business.
to effect this.
Life Department.
ALLEGED MURDERERS FOR
TRIAL.
· KIPNAPPING THE MOTIVE.
amount credited to profit and loss Mr. W. H. N. Mundoon second- has been $0,208 which is not at ed the Chairman's motion that the this stage unsatisfactory. It is, of report and accounts be adopted, and curse, dosirable that the Depart-the motion was carried unanimous ment should be expanded, and we ly. are making all possible endeavours The Consulting Committee "It seems clear that the delen- (Messia. Allan Cameron, Li Teo danta have thought out a common Fong, C. P. Maredf, Mok Ching story," said the Magistrate (Mr. W Now as regards our Life Depart Foo) were re-elected proposed by
Kong, C. A. da Roza and Teang Schofield), committing three pri- mant this has progressed more or Mr. C. THWAITES, seconded by Mr. at Kowloon Magistracy on Satur soners for trial on a murder charge less as anticipated and a satisfac-WONG KIT WAK.
day." Whether that indicates that Messrs. Lowe, Bingham and the fourth defendant was privy to that death was due to acute mili-293,171 against $133,823 in 1928 Matthews and Mosers. Perez Smith the murder seems very doubtful," ary tuberculosis, commonly, known being more than double while over-auditors for the current year at a
Both and Fleming were re-elected added his Worship. galloping consumption." The jury returned a verdict. in head expenses have increased from fee of $750 each-proposed by Mr. $161,211 to $188,576 about 15 per A. A. ALVES, seconded by Mr. ALLAN
(Continued on next Column). Kate.
On Saturday the Coroner, Major Willson, and a jury held an inquest. Dr. Cannon said he had held a post mortem examination and found tory increase is shown in volume.
as "
with the medical
The premium income amounted to
the murder of a woman from Macso The defendants are charged with on February 24th. The fourth de- fondant was discharged.
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