Page
THE HONG KONG DAILY PRESS,
THE TWO LEADING BRANDS
ON THE MARKET
FIRST STILL
1627
300 Years
STILL FIRST
1927
it's stood the test, And still of whiskies is the best; Tis "Scotch" but that's a trifle vague—... To get the BEST SCOTCH call for
"HAIG"!
J & C 17 TAMALLER, MARENCİ, SUPEARS
SOLE AGENTS:
GANDE, PRICE & CO., LTD.,
St. George's Building, Ice House St.
Tel. C. 135.
[193
GREEN ISLAND CEMENT CO., LTD.
At PROP
Best Portland Cement.
SHEWAN, TOMES & CO.
香
GENERAL MANAGERS,
"
HONGKONG.
Horlick's keeps for years in all climates the aroma and flavour are clways grateful
to Infants, Invalids or Aged. It never becomes
rancid like many ordinary milk powders
owing to the Conserving effect of the glass bottle
aroma maltose-dextrins and the sealed
HORLICK'S
MALTED MILK
and
Horlicks is particularly grateful to the Flavort
Chinese sense of taste and smell.
To the ancients the odour of malt
was so acceptable that the above
character for aroma or sweet taste
was actually a pictogram of mulled
grain with the Water Sweetness shewn
味
Representative-Mr. H. M. HODGES, PO. Box 1373, Shaoghal.
THE NAVY'S CHOICE
Coales
ORIGINAD
PLYMOUTH GIN
OBTAINABLE EVERYWHERE.
When she needs # touch of colour
she uses
WHAZELINE
(Trade Mark)
The Woman who
motors
knows the value of
HAZELINE
ROSE FROST"
# 4571.
(Tenda Mark)
SNOW"
...
Applied to the face before starting, it prevents dust entering the pores of the skin. On arrival, another application removes all traces of the journey.
Both in glass pots" All Chemists and Stores
BURROUGHS WELLCOME & CO. (PROPRIETO In The WellURMI FOUNDATION LTD., Laneum. Xac.)
LONDON, AND SHANGHAJ
All Rights Res
WEDNESDAY, OCTOBER 12th, 1927.
CHINA UNDERWRITERS, LTD.
PROPOSED CHANGES IN ARTICLES OF ASSOCIATION.
COMPANY TO BE CONTROLLED BY BOARD OF DIRECTORS.
SHEWAN, TOMES & CO. VOLUNTARILY SURRENDER LEGAL RIGHTS AS GENERAL MANAGERS.
HONG KONG STOCK EXCHANGE.
CLOSING QUOTATIONS.
Oct 11, Iwa7." A. Bank www...........$1,139 von.
Londonfiel nom. Do Chartered Bank... nom. Mercantile Bank, A. AB... nom. C£13, nom.
Do..
P. & O. Bank
East Asia Bank
.....£ity num.
8370 Dont.
Canton Insurance........$50 DON
China Underwriter.1.35 nom
North China ina.
Union Insurance ....
„Fla.. 143 noi,
Saul, do if.$++; bay. buy.
Yangtze Insurance..... Unius Fire Insurance......SJio
Da
་་་་་
333 bay.
Ai mel
not. 330 nom.
buy.
Hong Kong Fire Las.......590 nom. Steamboat...... Dongles HK Top
-TOE......... Lado-Chinas [Prof.),
(Def.) Shell Transporta Star Ferries Waterbunts.. China Sogar Malabon Sugar Bengueta... Kailan Mining Ad.. Langkat (combined). Do. (single! Sha. Explorations Shanghai Loan Raabe
As will be seen from the native This arrangement makes for effec- ative control and also far continuity in our advertisement columns meeting of the shareholders in which is very desirable from the China Underwriters, Ltd., will be Company's point of view. It is pro. held next month to consider, and if posed that the present Manager, be thought fit, to appreve articles of reappointed by the Directors.
With regard to (3) this was gone association.
into very carefully by the Consult Brietly the main objects of the ing Committee under the advice alterations proposed in the Metao-of the Company's Manager and
Actuary randum and Articles are as follows: that the commissions should not with a view to ensuring To vest the executive control embarnes the Compang, or restrict of the Company in a Board of its future operations, " » Directors elected by the share-
halders instead of in a firm as during the tera: of the agreement Tronoh Mines
The General Agents undertake
open market.
Ural Caspiana H.. & K. Wharfs Bangl
Letions
bar.
$17 nom.
$134.
..$50 Bel. „$1.65 nom.
યુગમાં ઠેસ
1. 17; som Tla. Dom. Th. 3 2001.
..$60 buy:
...19/3 nom. .....3;+ 101. $115 bay, 116
..$33 50.0
Shanghai Landa Hong Kong Realty
Tarnitorials Prines' Faildings.. Humphreys E-tates,. Kural Lands Kwo Orientals Shanghai Cottons (old)... (uw)...... China Bases B.K. Tramway ..... Peak Trams (old)
Do. Singapore Tractions
Do.
General Managera,
to place their own business with the -To reduce very considerably Company and to introduce as much &W, Dock.....
the scale of commissions pag-other business as possible, and the abin to the Firm who at pre-commissions payable thereon have
New Engineerings.. sent net as General Manager:jbeen reduced considerably as com
Shanghai Docks and who will after the passing pared with the old agreement and HK,IB. Hotel of these articles became Gene are a great deal lower than the | H.K. Lands ral Agents acting under the business would command in the Directors. 3.-To place a limit of ten years The commissions, on the General on the period of the appoint Business of the Company (other ment of the Firm as General than that introduced by the Firm) Agents so that at the end of as well as those on the Life, Busi ten years their emoluments ness have been drastically reduced cease altogether and they then and in fact terminate altogether at participate in the profits of the end of ten years. the Company in substitution In view of the fact that the Firm for drawing commission on took the responsibility for the Income.
flotation of the Company and gave up all the Insurance business and connections to the Company' it is proposed that when these commis sions cease they shall take a sub- stantial interest in the profits of the Company thereby sharing ns they obvious should in its success. In other words their interest bo- cornes, dependent on the success of the Company as a profit earning concern rather than on its incoine. If the Company does not make a Constructions profit they get nothing.
Commenting, upon these proposed changes the members of the Con- ulting Committee, Messrs. C. A. da Roza, C. P. Marsel, A. Cameron, Li The Fong, Mok Ching Kong and Tsang Foo, sar:-
In the first place the very enn. siderable concessions made by the firm of Shewan, Tomes & Co. by the alterations are purely voluntary, as the Company's present agree ment with the Firm is a binding one apart from the Articles of Associa tion, and cold not be nitered by the shareholders without the con- sut of the firm.
The amount of this interest is, of course, not à matter which affects the Policy holders Security or the Company's financial position and is question, of the distribution of profits between the shareholders
Tard's........LIKON
buy, Tl4.44 bay. 1ls. 92 buy.
118) pom..
113 sel.
hom
$150 buy,
$14 man. 11. 7.30 sal.
1.00 buy.
nor
Tis. $7 25. 10 buy."
Snom. $10 iny.
$14 ael.
12/6
KOKO.
1 Rom „$19; nom.
*
sel.
.COM.
Amusements Oton Icca Cements (combined)....$7
Do (bit) 16.60 Do. (new) ......$i
કાર્યો, China Lights (comb.) $12.nom. Do.. (old) ..........$9+ nom,
$i rom. $il com. 1315g nom.
36
China Proridents'.
Do. (new).....10‡ nom.
Der & Wings...... Dairy Farma..... H.K. Electrics..... Maceo Electrics..... H.K. Bow (old)
(<7) Lane Crawfords.. Mackintoshs.... Binceres....
United Asbestos ie
дош.
152 buy.
$43 nom. Jly uom $5 nom.
It keeps its shape without starch
WHI
TE Five Style Quarter
In
COLOURED
In Style it only
Si Five Desigua
TRADE
K
The special multi-ply fabric of the VAN HEUSEN Collar doesn't need starch to give it shape. Even so, it is always as smart as a starched collar. What is more, it can be washed and ironed of home- just like a handkerchief.
Ideal for Hor Climates
VAN HEUSEN
(SS)
TRADE SEAR
The world's most economical COLLAR
Entirely BRITISH MADE
PATENTED IN ALL COUNTRIES
Obtainable at all principal establishments in Hong Kong TXX YAN HEUSEN INTERNATIONAL CO Kinnaird Mousa, Pall Mall Exit, London, 5.W., England
Scale Style 13
Tryia da State 53
50 LT
Established 1914
Kelvinator
Electric Refrigeration
Cold
Absolutely
Automatio
$5 sel.
$8) nom.
12
sel.
Perfectly
..slią nom.
35.841
Reliable
Bales ;
Good for
A Lifetime
It may be mid that when the Agreement and Articles were enter ed into it was not foresen either and the. Firm. In order in all by the General Managers or by the the circumstances to arrive at a shareholders that their terma might | fair basis the matter W29 re- operate onerously on the Company ferred to Mr. Fleming. Chartered Watsons (old)..... and that the form of control was Accountant, of Messrs. Lowe, Bing-Wa. Powells..... unsuited to a Life Assurance Com ham & Matthews, who suggested Telephones,70 el. puy, but when this was realised in that it would be fair and reason- 'que. Indus. G.3 Bonds...5% buy. the early days of the Company the able in view of their interest and bay-bugos; 10).-oller; General Managera offered to modify in view of the very great conces- their rights so not to hamper the sions they have made that the Firm Company's progress, and an expert shall be entitled to pac-sixth of the opinion was taken in London on the total profits among shareholders subject as long ago.us May, 1024. and we are in agreement with this.
premium
com.--nominal.
EXCHANGE.
ULOSING QUOTATIONS,
On Leaos-
11.3
TH was thought inadvisable to Among the other alterations is ck any drastic change until the the introduction of clause 117 (b) the Company had developed somewhat which is a usual clause in further but in the meantime the Articles of Association. of a Life The parti- General Managers agreed to accep: Assurance Company. half the amount due to them unde: cipating policyholders contribute their agreement and in fac. have considerable extra received far less than they would profit loading thereby adding to the have drawn as, profits from their general security of the Company valuable Insurance Department and are naturally entitled to get which was turned over to the Com- back their contribution by way pany and which enabled the Combonus if the Company is prosperous. As the Company gets larger the pany to be formed.
number of participating policyhold With regard to (1) the new Articles provide for the election of ers gets greater and these extra contributions form the greater part Board of Directors and it is prof the Actuarial surplus; the profit, posed that the present Consulting Committee shall ferm the Brit derived from these cash payments' Ecard with the usual provisos for is not trading profit in the trus
aense. The percentage of 90 per Ox retiring in rotation at general meet-cent. of profits from Life business ings.
is a usual percentage provided for
October 11th, 1927,"
Telegraphio Tmaster.
--1/117 Rank Eills, on dosud "...1/1131,16 Bank
Hala, at 20 days' right Bank Bills, at 4 months'
sight
3:
1/11 Credit, at4 months' night 2/04 Documentary Bills,
months' sight
Or PA-
1,230
· Credits, 4 months'right' ... 3,295 NEW YORK.**
Frosty Dry
Costs little to operat e
All steel
exterior-
built like a bridge.
Finished with
white lacquer
the interior
of white
porcelain
Call at our office for a demonstration
REISS,
MASSEY & CO., LTD.
EXCHANGE BUILDING
... 9/04
Bank Bille, on demand
+
O
Back Bills, on demand Credits, at 60 days' sight...
48
Васк
Back Bilia, on demand... CALCUTTA
Telegraphic Transfer.
132
Telographic Transfer
The Sign of
ΤΗΣ ADVERTISING
Os
SHANGRAL
731
and PUBLICITY BUREAU
The Consulting Committee feel and under Canadian Law this per- Ox that in shouldering the greater ventage is a compulsery one. This Directors they safeguard in participating policies responsibility as should have under the Articles the is. moreover, an asset is the ac right to have always a technical quisition of new business. Insurance Expert as Manager of the Company directly acting under their instructions responsible to them, and appointed by them on a short term agreement not exceeding fire
years..
It is provided that the General Agents and the Manager net jointly under the instructions of the Board.
As the above modifications are all in favour of the Company we feel sure that you will give them your unanimous support and we feel that the attitude of the General Manag- ers in giving up their legal rights will be appreciated as evidence of their sincere desire to strengthen the foundations of the Company..
guilty of offences such as dangerous driving, for which they may be un- wittingly responsible, when suffer. ing from mental and physical dis turbances.
Bank Bile on demand...} 132
Bank Bill, at
Privats, 30 sight
days sight... Or YoxoRA-On demand... 1024
MANILA-On demand ON SINGAPORE-On demand...
ON MANILA.
85 119
Dom
941
ON BATAVIA,On demand ON HAIPHONG.—On demand. Os SAIGON-Ou demud ON BANGKOK-On demand BOTEZIIGH, Book'e Buying rate $9.30 GOLD LEAY, 100 foe, per tael... HAR SILVER, per oz.
25 12/18
EXCHANGE RATES.
[RITISH WIEZLEAS SERVICE.]
Ryosy, October 10th.
124 4.87.3/32 31.97
Paris New York ......... Brussels Geneva Amsterdam
ILLNESS NO DEFENCE.
LAW OF DANGEROUS DRIVING.
Loe Physical State. « IMPORTANT COURT RULING.
The ease which produced this ru ing is one where Dr. William D. Motorists are confronted, under Lawton, of Manchester, was sum. the law as it stands at present, with moned for driving his motor-car is a serious problem, according to
a manner dangerous to the pubile the Local Government Journal, He had previously been acquitted which states that "a person who of a charge of ixing drunk when chooses to drive a car in such a driving a motor-car, it having been condition of health that he is liable proved that he was in a low phys to be overcome commits an offence cal state following a.dental opera- if he is in fact overcome while tion. driving.
Prague and dangerous driving The theory was then propounded thereby resulta.
by the police that a person driving "It is no defence for the motorista motor-or must be responsible for any physicalformity which might or danger to
to say, I could not help it: I was
, or even unconscious, at the cause an act was not an-
other people,"
time, if he ought to have prevent ed it by refraining from driving." parent when he began the journey
Motor-car driver, who are suscep- The far-reaching effect of the de- cision of the Manchester magistrate tible to physical conditions over which they have no control may, has provoked the question in the "Is it according to Mr. J. Wellesley Orr, minds of many motorists:
drive to the Manchester magistrate, be bold, safe
ין
Alcanadra Buildings.
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in
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...that being independent,
35.25
Milan
Barliz
[12.14
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20.42
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18.08
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18.46
Vienna
34.50
1041
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1031
Madrid ..
97.80!
can place all this know- ledge and experience at the
Lisbon
Athena"
2:7/16 367)
Bucharest .....
783
Rio
Buenos Aires
Bombay
Yokohama
1/620/53 1/10 20/32
Silver (spot and for-
ward;
25 13/16
5 15/32 47 51/04
TEL. C. 376
MARTIN'S
PILLS
APIOL & STEEL Sure and certain for all Female complaints.Every lady should keep a box in the house.
Chemists and Stores sell them throughout the world,
Proprietor MARTIN, Chm, Soathanglam, Kayland,
OVER HALF A CENTURY REPUTATION
LIVER KIDNEYS ♬| INVALUABLE FOR Diskm ́bi_Mu009 SMPORTANT ORANG, GRATES, Bacades, 100, SHRINETIÊN, Pame: Leting Dustines, our For Fire, SP, KAMOLI KOND, Go, asook BS M.W.
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ensuring that the money
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PRICE
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· On Bale at:
"HONG KONG DAILY Paz" Offics.