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FACTS AND FIGURES
For the Busy Business-Man interested in Hong Kong and South China." The "Weekly Press" (price 30 cents) will be mailed for a year, to any place in the world for $15. Specimen Copy Free.
THE HONG KONG DAILY PRESS. THURSDAY, MAY 15, 1930.
MORE MONEY REQUIRED
VOTES TOTALLING $53,870 BEFORE
FINANCE COMMITTEE TO-DAY.
HOW THE AMOUNT IS MADE UP: SCHOOL PREMISES IN NEW TERRITORIES TO COST $30,000.
The Finance Committee of the Legislative Council will be asked this afternoon to consider a number of votes totalling 833,870. or this sum, 830,000 is required for the purpose of building a proposed vernacular school af Au Tau.
In connection with the retirement of Sir Henry Gollan and the subsequent appointments which became necessary in the Attorney General's Office, a sum of 88,3520 is requested under the heading of personal emoluments. This item is explained fully in the details which will be found below..
ESTIMATES, 1930,
44.28, Education, Inci
dental Expenses. Purchase of Gestetner Reduplicator 8300 Provision made in Estimates page 63 cub-head 7): 87,818.
Queen's College is in need of a Gestetner Reduplicator. An oppor- tunity has arisen for the purchase of a second hand, machine for $300. It has been seen in action and is in good condition. The vendor, is the local representative."
The purchase of this machine will obviate the purchase of a new medel
at a cost of $930 approximately, '
The above is to be met from sav. ings under Capitation Grants sub head 30 (1930 Estimates page 83), (C. S.Q. 4 in 2770/24.)
1.
45.-6, Sanitary Department: Special Expenditure: New Boiler for Hong Kong Dis infecting Station .......83,000 Installing a new boiler for the Washington-Lyons disinfector at Hong Kong Disinfecting Station in place of the present one which has
49-17, Attorney General:-1,
Personal Emoluments...
CORRESPONDENCE.
HEALTH EDUCATION.
[TO THE EDITOR OF THE "HONG KONG DAILY PRESS,"1
EFFECT OF EXCHANGE ON INSURANCE.
INTERESTING SPEECH BY CHAIRMAN OF CHINA UNDERWRITERS, LIMITED.
FULL DETAILS OF ANNUAL MEETING.
sound progress.
The satisfactory collection of re newals and the favourable claim- rate show that we have good-class. business on our books.
Sia-With reference to health propaganda in the schools, in view
The sixth annual meeting of the The life assurance fund requires. of the high cost per head of educa». tion in Government Schools in the China Underwriters, Limited, took to be built up to cover the actuarial Colony, the authorities concerned place yesterday. The Chairman an- liability under the policies, but the should be careful about adding tonounced that steps have been or fact that we have entirely written will be taken to discontinue such off our establishment account-which the cost. Is it necessary to have special teachers for hygiene? Could sections of the fire insurance busiin 1926 stood at 8182,849 and set ness which has resulted in loss on up a life assurance fund of over not the Government teachers do the work themselves? The same applies past experience. He dealt fully $100,000 is a sufficient" indication to the Medical Department. Could with the effect of exchange on in that this department is making not the doctors who have taken the aurance,
The call of $1 per share, said the: Tropical Medical School and who are expecting to get enhanced Chairman, Mr. R. G. Shewan, was salaries, do the work in connection made because the Directors felt with malaris without going to that the present paid-up capital was the expense of specialists? This rather small in view of the expan-
The net premiums in the marine matter would appear to be the work sion of the Company's business. of the ordinary members of the The proceeds of the call would be department amounted to 3256,401 as compared with $168,800 in 1025 Medical Department and of the held in reserve.
Supporting the Chairman were While the section of the business. P.W.D.
Messrs. Allan Cameron, C. A. da which represents our Roza, Li Tse Fong, Mok Ching writing has shown a profit, the Kong, and A. A. R. Botelho (Direc-business which is reinsured with us tors) and H. R. Sturt (Manager and Secretary). The following share- holders were also present-Messrs. J. J. Basto, G. K. Hail Bratton, 4. A. Shields, Chan Nai Pan and A.
Acting Attorney General. 88,520 Provision made in Estimates (page 37 sub-head 1): 834,978.
The Chief Justice (Sir Henry Gollan) has been granted 3 months and 22 days full pay leave prior to his retirement on August 1, 1830. The Attorney General (Sir Joseph As to grant-in-aid schools in the Kemp) has been appointed to act Colony, the cost of education in the as Chief Justice with effect from Colony has more than doubled in April 9. Mr. C: Grenville Alabasthe last nine years, whereas the ter has been appointed to act as Attorney General at $1,800 pim. and it is necessary to provide for his acting pay. This minute covers the period up to Sir Henry Gollan's retirement and one month in addi tion. (C.S.O. 237/25.) - 50.-29, Public Works Depart
ment:-26, One High Speed Morse Transmitter." Purchase of two addition- al High Speed Morse Transmitters ....
..$1,800 Provision made in Estimates (page 60 sub-hend 28): 2800. "The purchase of one Creed High
grants to the grant-in-aid schools have remained on the same scale. It would be of great interest if you cold explain the educatioan! system of the Colony to your readers. How are all the schools in the Colony financed; what are the fees charged; have fees increased with the increased cost; what is the cost per head to Government in the various schools-Government, grant-in-aid and other schools have the number of scholars educat- ed increased proportionately in
Keith.."
4
CHAIRMAN'S SPEECH. In presenting the report and ac- counts for the year ending Decam- ber 31, 1029, the Chairman said:-
As on the last occasion, we have couverted all silver figures to Hong Kong dollars and all gold figures to sterling at the parities.
The gold figures have then been
Marine Business.
own under-
under treaties. reflects the unsatis- factory experience of the London market and after setting up reserves.
the increase, a loss of 818.284 is shown. Steps. will be taken to | discontinue business from unprofit
able sources.·*..
Fire Claims.
Net premiums in the fire insur ance department at $118,282 show a considerable, increase over the
claim-cate has been heavy, so that figure or $79,488 in 1928, but the
after setting up increased reserves. for unexpired risks a sum of 820,500
been in use since 1902 and has now Speed Automatic Morse Transmit. Government schools with the great converted to Hong Kong dollars at is transferred to the debit of profit.
become unserviceable. The condem
nation of the boiler was not foreseen
when the Estimates for 1930 were framed (0.8.0.1872/03.) 46.-28, Education:-30, Equip- ment of King's College.. Relief Maps
8203 Provision made in Estimates (page 63 sub-head 30): 8600.
School material to the above amount consigned to the Education Department in 1929 was found to be damaged and Crown Agents were instracted to bave the goods re- placed.
The original consignment WAS paid for in July, 1929, from funds specifically provided Estimates.
'in 1929
In January this year the goods were replaced and this Department has been debited with the sum of £93.0.0. against which no funds are Available in 1820 Estimates, Crown Agents are taking steps to outain satisfaction from the contractors in England who have, however, so far denied responsibility for the damage.
The auove is to be met from savings under Capitation Grants (1930 Estimates page 03 sub-berd 20). (C.S.O. 11 in 233/29). 47-31, Public Works Extra- ordinary-Access and Patrol Path to Le Wu...... $730 Amount provided in
1023 on page 80 under Head 37 P.W.E.. sub-' head. 145 was
Amount of Contract
$4,500.00
No. 10B of 1929 for the above work was... $3,698.00 Expenditure during 1929
$2,297.53
"Leaving a balance of.81;400.47
Amount required to
complete
$50.00
$ 680.47
Estimates.
In view of the very rapid increase in the volume of traffic it is essential that two additional machines be obtained as early as possible.
ter is provided for in this year'sly increased cost of education; is the education of girls encouraged, ete. Other questions might also be asked, for example, as to the com- parative cost per head of educating scholars in Government schools like Queen's" and King's Colleges and in the Central British School, and in grant-in-aid schools.
The shore is to be mot froin savings under Two combined Key board Transmitters and Printers (1030 Estimates page 89 sub-hend 24). C.S.O. 21 in 173/30.)." 31-25, Medical Department:
Provision
D. Bacteriological In-. stitute, 38, Uniforin. 8150 suade in Estimates (page 48 sub-head 38): $400.
The increased amount of work in the Bacteriological Institute and the insufficiency of staff to keep the Institute in a proper state of clean liness necessitate an additional staff of four coolies. The Supplementary Vote now asked for is to provide uniforms for the current year for the four additional coolies for whose salaries funds are already available. The above is to be met from
Maintenance savings undeż.
of Lunatics at Canton (1930 Estimates 47 sub-head 18). (0.5.0. page 5681/26). 52-28, Education:27, "Con- tribution to cost of .Ad- visory Committee of Educa tion in the Colonies (£210) $38 Provision made in Estimates (page 63 sub-head 27): $2,201.
The Colony's contribution of £210 was estimated at exchange 8-1/10. The rate of exchange for January when payment was made was 1/72..
1/782,618.18 1/10 2,201.00
3 227.18 "A Supplementary Vote of 8328 is required to meet the excess due to the fall in exchange.
The above is to be met from savings under Capitation Grants (1030 Estimates page 03 sub-head
(0.5.0 1187/27) ba,-15, Fire Brigade: Special Expenditure: Motor Fire Engine
8384
It is estimated that a sum of 875020) will be required to complete the work therefore a saving of $650.47' is anticipated on the Contract Amount, what at the
Owing to dilatorines on the parted of the Contractor, little progress was made during 1920 and this work' which, should have been finished in August last, is not yet completed;
It is requested that a re-vote of
A Supplementary Vote is request
to cover the cost of.
Inspection Charges £25.11.0
Insurance
5.-3.6
Total £30, 15.0
8750 be granted for this work on-1 Motor Fire Engine which are
The above is to be met from Bay-rived in January this year.. mgs ander Circular Eastern Road" (1930 Estimates page 88 sub head 110), (C.S.O., 7, in 468/29.) · 48-31, Public Works Extra- ordinary-Special Vote. Filling in Lai Chi Kok Prison Garden
81,500
To meet the cost of tools necessary for the use of: prison labour in pre liminary work on a site near Lai Chi Kok Prison, which has been selected by a Committee appointed by His Excellency the Officer Administer ing the fovernment at suitable for a female prison..
No provision has been made to cover this expenditure, in 1930 Estimates. A gum of 8819.51 lapsed on the 1923 vote 15, Fire Brigade r Special Expenditure-one Motor Fire Engine,"
£30.15.0.1/72=8383.08. (C.8.0 27 in 44/28.) 4-34
In considering all these points, reference might also be made to the number of British teachers in
the Colony. Do schools employing British teachers get any preference or help for the additional cost, etc. 1 Is equipment, paid for by grants, bought in England or else where? Also we might be informed as to how much King's College cost, including buildings, equipment, etc., and if such an expensive edu. cation as is given there is necessary, capccially when the fees charged are considered. Yours, etc.,
Hong Kong, May 14.
QUERY.
A further application will be sub- Initted when the accounts for the complete tour have been made up in London and the actual balance due from this Colony is known. (C.8.0. 4411/27.). 55.-31. Public Works Extra-
the rato raling on December 31, and loss account. The section of 1920, namely $11/d. For the the business which has resulted in sake of continuity we have shown this loss was discontinued in the the figures brought forward at last year's rate and an exchange adjust- rent.
Increased Life Business.
latter part of last year
While the net premiums in the accident insurance department have been about the same as last year. In the life department, from which we have been able to increase the we anticipate our principal develop reserve for unexpired risks from ment, the premises received at $10.991 to 814.813, nothing having 2,056 show an increase of $178,807 been transferred to or from profit over the figure last year. This very and loss account. large increase is to a large extent The profit and loss account shows. due to the effect of converting gold debit balance of 890,284 against premiums to Hong Kong dollars at $37,463 last year. This increased the low exchange prevailing. At debit is to the extent of $18,000 due last year's rate the increase would to the different exchange at which have been about $73,000. Expenses the debit at December 31, 1928, ha at the new exchange-rate show an been brought forward; otherwise it
partly to exchange and partly to the inclusion in this department of all the executive expenses previously-i charged equally to the marine, fire and life departments. On the same basis as last year there would have been a small reduction.
increase of $15,900, but this is due
setting up reserves in the fire and" results from the debit balances after
marine departments.
Some Causes for Anxiety. It will be seen that the exchange and investment fluctuation account has been increased from $34,225 to
Claims stand at $57,878 and at $78,180. On the whole, while the last year's rate of exchange this life department has shown quite would have shown only a very amall sutisfactory progress and the ac- increase over last year's very satis-cident department reserves have factory claim rate, notwithstanding been strengthened, the fire and the increase in the business.
Effects of Exchange.
The total income exceeded all out-marine departments, which are be
coming goings by 8188,483.
subsidiary to the life ordinary, Hong Kong
business, still give some cause for Buildings. Additional
anxiety. We hope to be able to Transmitting Block and
The balance of the life establish effect an improvement in these ac- Mast at Cape D'Aguilar
ment account stood last year at counts by the steps which have been W/ Station,,: To com-
$110,728, but this is reduced to taken to eliminate the sources from plete the work approved and commenced last year 84,940 806,587 when the gold portion of which unsatisfactory business has
the establishment account is con- been received. Provision made in Estimates, verted at the new rate. On this oc- In February, Jost a call of $1 per (page 34 sub-head 1): 820,000, casion the outstanding instalments | share was made on the Company's This work was approved in Sep- of the current year's premiums, less share capital, making a total of 84 tember, 1929, and a sum of 815,000 cost of collection, are included in per share paid-up out of the nominal the revenue account, so that the amount of $10. The call was made provided, by F. M. 12, Item 36 the total estimated cost of the work net result of the year's working has as your Directors felt that the. then being 835,000,
beer to write off the whole of the present paid-up capital is rather The Mast was constructed by the establishment account and to set small in view of the expansion of Taikoo Dock and Engineering Co. up life assurance fund of $101,575 the Company's business, and the and was not completed until the last This is of course a much more proceeds of the call, will be held satisfactory result than could have in reserve. Any further likely week of the year. In consequence a
been expected, and is due to the development of the Company's sum of 81,682.30 only was expended extent of about $70,000 to exchange business can be met out of income. in 1920. The present estimated total and to the extent of 883,954 to the In conclusion I should like to
complete the work is 828,522.30. Deduct 1929 Expendi-inclusion of outstanding instalments place on record our appreciation of of the current year's premiums, lens the loyal co-operation of the branch ture 81,582.30 balance $24,840. cast of collection, Excluding these gahagers, secretaries, agents and A revote of 84,940 is requested to two favourable factors the amount staff in our various branches, t complete the work in 1930 (C.3.0, written off the life establishment have now the pleasure to pro 831/28.)
account would have been 957,931, pose the adoption of the report and and even this figure would have:
accounts of the Company for the shown a satisfactory comparison. with the corresponding figures of 815,978 and 328,642 written-off in the two previous years.
cost to
50-1, Public Works Extra-
ending December 31, 1929, as presented, and when that has been seconded I shall be pleased to an- swer any questions that sharehold ers may wish to ask
ordinary-New Terri- tories, Buildings. Pro- poed Vernacular School at Au Tou........... $30,000 Owing to the rented premises at If exchange were to go up, part Un Long becoming structurally un of the lite assurance fund would. The report and accounts were ale, it has become necessary for disappear, but the exchange fuetus- seconded by Mr. Geo, K. Hall Government to build its own school tion account in the balance sheet is Brutton and carried unanimously. Miscellaneous Eer- vices: Geographical Sur-
on a site adjacent to the village. insufficient to allow for any likely Messrs. C. P. Marcel and Tsang A total sum of 845,750 will provide exchange fluctuation upwards in the Foo, who retire from the Board of vey. Visit of Brig-Gen. H. 8 J. L. Winterbotham... $1,905 for a school suitable for local re near future and if the exchange goes Directors by rotation, were re-elect The Finance Committee has al-quirements with accommodation for down the results would be still more ed on the proposal of Mr. JAT adhanaemadamamelidonlient school fangeable Bat Besanded by MChJA ready approved of the provision of premises preparation of site, play New business, has been maintain. ↑ Pan -
Messrs. Lowe, Bingham & Mat The above is to be met from say the necessary funds (estimated total ground fencing, approach road and ed in our Southern agencies in ings under Improvement to Tai Po £390) when required: The expen
faciiture. It is estimated that if spite of depressed business con- thews were re-elected silditors of Road Junction with Castle Peak diture incurred to date is $1.000 the work is put in hand about the ditions in Ceylon, the Straits, Dutch the Company for the ensuing year Road to North of No. 3 mile stone and a vote for this amount is rend of May a sum of £20,000 can East Indies, and Burma, owing to on the proposal of Mr. A. L
1030 Estimates page 87 sub-headquested.
(C.B.O. low prices of tin, copra, rubber, Shields, seconded by Mr. Alian be utilised this
'etc.
Koith:
188) (C/8.0, r1/20.)
inued on next Column.) ;] 788/08.).