AMENITIES
At the
Repulse Bay
Hotel
Easter Monday
SPECIAL TEA DANCE
17th April '33
Tea Dances
4.30 to 6.30 p.m.
On Sundays as usual
Price reduction has been
effected on charges in re spect of the following :— Wed. and Sat. Dinner Dances, Sunday Tiffin and Tea Dance, Week-day Tiffins and Dinners.
THE HONGKONG & SHANGHAI HOTELS, LTD.
ELECTROLUX MINOR
ALL ELECTROLUX
MODELS
are silent in operation have no moving parts
can be operated with
:
Suitable for Tent, Yacht,
or
the Home.
No Water
Needed.
either Kerosene Oil, Electricity or Gas.
Sole Agents for South China:
SHEWAN, TOMES & CO.
St. George's Building, Hong Kong.
ASSETS
£13,000,000
·BY APPOINTMENT
CLAIMS PAID
£40,000,00
GENERAL
ACCIDENT. FIRE & LIFE ASSURANCE CORPN., - LTD.
All Classes of INSURANCE
WORLD WIDE
ORGANISATION
JAMES H. BACKHOUSE!
CHATER ROAD.
221788.
HONG KONG DAILY PRESS, TUESDAY, APRIL 11, 1933 -
H. K. FIRE INSURANCE
CO., LTD.
INCREASE IN ASSETS OF OVER A MILLION DOLLARS
GENERAL AND EXTRAORDINARY
MEETINGS HELD
An increase in assets of approximately $1,700,000 was reported by the Hon. Mr. J. J. Paterson yesterday when he presided at the annual general mesting of the Hong Kong Fire Insurance Co., Ltd., which was held at the offices of the General Managers, Messrs. Jardins, Matheson & Co., Ltd. In the course of his report, the Chairman said that despite the world wide depression, the year's working of the Company must be considered satisfactory, and proposed that the foes of the Consulting Committes and the Audi tors be increased.
Those present at the meeting were:-Hon. Mr. J. J. Pater- son (Chairman), Mesars, A. H Compton, A. H. White, T. E., Pearce, Felix A. Joseph and C. B. Brown (consulting committee), F. C. Hall (secretary), Messrs. F. H. Crapnell (representing Star Ferry Co.), L. 8. Greephill D. V. Steaveason, Ho Loung, Lo Cheung Shiu, M. H. Lo, A. B. Stewart, S. H. Ross, MH. Turner, J. H. Seth and J. Fleming (shareholders) and A. Ritchie (auditor).
The Chairman's Speech,
The report was seconded by Mr. Lo Cheung Shiu and passed un- animously.
DEATH OF YOUNG SCHOOLMISTRESS
Sister's Evidence at Inquest
ALLEGATION AGAINST MOTOR DRIVER
The Coroner's enquiry into the death of a young Chinese school- mistress 'who was fatally injured in n motor smash in Jubilee Road.on the afternoon of March 11 was con- tinted at Central Magistracy res; terday:
Mr. W. Schofield sat as Coroner, and was assisted by a jury compris- ed of Messrs. F. C. Andrews (fore- man) Taoi Wing Ching and Wong King Run
*
Mr. Hin Shing Lo appeared for Kwok Hung Ki, and the owner of the car was represented by Mr. R. A. Wadeson. Inspector C. F. Alex- ander watched the case on behalf of the Police.
The deceased is said to have been travelling at the time of the ac cident with her younger sister and a man Kwok Hung Ki, who was alleged to be the driver, and it was indicated at the first hearing, that probably a grave charge arising out of this enquiry would be preferred crease in their fees since the year against him. It has been stated by an eyewitness that when he went 1921 and, in view of the fact that
to the scene of the accident imme- In moving for the adoption and the Company's assets "have more statement of accounts, the Chair than doubled during that period,diately after, he heard the younger man said:-Gentlemen,-The bal-I think you will admit that an in- girl said Ho must have deliberate- lince of $583,830.06, resulting from crease is fully justified. The addi. {ly injured us." the year 1931, can only be described tion to the Auditors' fees of $250 as moderately satisfactory and, even per annum, for coch firm, merely then, it will be seen that the bulk brings their remuneration up to the of such amount is derived from in figure paid by other Companies ni terest on our investments and only our standing. the sum of $85,666,89 from profit of underwriting. This is but a sign of the times and I must frankly admit that, while the present condition of world wide unrest and depression continues, nothing better can be! looked for. It is sometimes thought that Insurance Companies can flourish no matter what the state of trade generally but I can assure you that it is not so and that no one icels the draught more quickly. Shrinkage both in the volume and value of stocks and the constant reduction in rates are factors that affect us just as vitally as does bad trade the merchant. In addition to. the foregoing, depressed conditions accentuate losses me is shown by the' increase in our ratio. from 49.82 per cont. in respect of the year 1930 to 54.03 per cent, for 1931, the period now under review,
Other Matters.
Sir Robert Ho Tung, Messrs. C. Bernard Brown, A. H. Compton, Dunbar, Felix A Joseph, T E. Pearce and A. H. White were re-elected to the Consulting Com mittee on the proposal of Mr. l. 8. Greenhill, seconded by Mr. D. V. Steavenson.
Proposed by Mr. Ho Laung and Seconded by Mr. M. H. Lo Messrs. Lowe, Bingham and Matthews and Messrs. Percy Smith, Seth and Fleming were re-elected auditors,
EXTRAORDINARY MEETING
An extraordinary meeting was then held, and the following ro- solutions were put forward-
(1) That the existing 6,000 shares in the capital of the Company or the nominal value of 8250 eacr, upon which the sum of $100 has been paid up, be divided into 40,000 shares of the nominal value of 860 each, upon which the sum of $20 shall be credited as paid up.
Insurance Policy Entered.
Mr. Tai Hong Nam, managor of the Tai On Accident Insurance Co.,
insurance
Ltd, of 230, Des Vaux Road Cen- tral, said that on March 2, Kwok Hung Ki entered an policy against personal injury of 85,000 at a premium of $50 per annum. The terms stated were that in the event of the holder dying after he had entered the policy for week, his next-of-kin would be entitled to the amount in- sured, but should he meet with any personal disablement he would only received half the sum.
even
one
The Dead Girl's Sister. Young Wai Yuk, the sister of the deceused and one of the passengers nt the time of the accident, stated that she was 20 years of age and was a schoolgirl. Sho know Kwok Hung Ki on December last year through the introduction of a friend named Mok..
The balance at credit of Work- ing Account for. 1932, after twelve months, working is $496,168.34 s compared with $524,295.67 for 1931 at the same stage, a decrease of $28,127.13, With a further twelve months yet to run, it is difficult accurately to estimate the final re-
(2) That as on and from the 1st In reply to the Coroner witness sult but I anticipate that it will be day of July, 1833, the regulations stated that she and her sister had round about the figure of the secontained in the printed documents been on terms of an ordinary count that we now have under con-
submitted to the meeting and for friendly nature with Kwok. She sideration.
the purpose of identification But paid a visit to Macao together with The surplus to be dealt with at scribed by the Chairman thereof be Kwold on January 27 this year, and this meeting is $383,830.66, the approved and adopted as the Ar-after this she and her sister always balance of account 1931, and we reticles of Association of the Com quarrelled with him. The cause was commend the payment of a divided pany, in substitution for, and to of $50 per share, the saine as for the exclusion of all the existing that they had heard rumours to the
Articles thereof." the two preceding years, together with an exchange bonus of 85 per share, making in all $55 per share, which will absorb $440,000 and the transfer of the balance of $143,830.63 to Reinsurance Fand.
Investment and Exchange.
In moving for, the adoption, the Chairman said:-
Gentlemen,
tion:
offect that Kwok had insulted them and made allegations against their She knew Kwok was a morals. married man and had often visited
him and his wife at their house in No. 357, Hennessy Road.
The Notice convening this Meet ing, which the Secretary has just
She also knew a man named Li Turning to the balance sheet it read, doals fully with the objects been for which the Meeting has
Tee, the owner of the car concern- will be seem that all our reserves are in a flourishing condition, in called, but before the resolutions
are put to you there are certain od, and often went for motor rides fact I think we have cause to con-
points on which I should like to with him. ̈ gratulate ourselves on the satisfac enlarge, as to the ressons which On the morning of the accident, tory showing made by our invest-have induced your General Man Kwok phoned her sister and said ments. Our sasets show increases agers and Consulting Committee to that he would bring a car to her over last year's figures, as expressed suggest subdividing the shares and in sterling of £25,000 and in silver amending the Articles of Associa house and take them for a motor ride. At 11 o'clock Kwok arrived of approximately $1,700,000,
We have felt for some time that with the car, and witness together the price to which our shares have with her sister went for a ride with rison is possibly detrimental to the him. All of them eat in front, wit
Kwok It will be noticed-in-particular true interests of the Company, by ness being in the middle.
reason of the fact that it must was driving and they went to that the Investment and Exchange necessarily restrict the number of Aberdeen by the Shaalawan route. Fluctuation Account discloses an
shareholders. The proposed sub When they reached Aberdeen Kwok increment of £66,340.1.2 or, as ox- division will have the effect of told them that he would have to pressed in local currency, $1,191,215.- gradually widening the field over telephone to his firm, Messrs. Goeke 13. This is due to the very con- which our shares are distributed
& Co., and went away for almost siderable appreciation of our storland so increase the number of per half an hour. When he returned he ing investments and I feel that, in sons in whose interest it is to sup this connection, I should make men-port the Company's activities. We said he had to go back to the office tion of the great assistance that therefore recommend the subdivi immediately, and began to drive at your Consulting Committee afford sion for your approval, as we have a speed of 40 miles an hour. *
Witness asked Kwak why he was the management in the way of every confidence that it will matert- Bly assist in maintaining the pre sound advior; it is no easy matter sont prosperity of the Company driving so fast, and he replied that to handle the finance "öf even » With gard to the Articles of small Company such as this in these Association, & rovision has been someone was chasing them from be Witness then looked round difficult times and I personally feel somewhat fotced upon us by the hind. indebted to them for the support they give me.
I trust you will approve of the usual bonus of 15 per cent. on their salaries being granted to the staff who have worked well during the past year
There are further matters, which I have to bring to your attention, though already advised to you by meand of the notice convening this gost meoting the Arst being the
$9,000 to $3,000 per annum
Ing $24,000 against $15,000 as pro-
viously), and the second the raising
now Companies Ordinance, which but saw no one, and was just turn comes into force on 1st July next.
car
The Articles have the rotors pening to tell him so, when the amended so as to comply in all toppled over the hillside. The road. repente: with, the provisions of this was lends at the time, and the new Ordinance and, in addition, certain alterations have been made vident occurred just near '& bend. ·
da to ensure the more convenient
The next thing witness knew was of the Company p
ations of any substanos when she found herself lying on the bera, Tally indicated in the ground she was injured in the Notice convening this Meeting which was circulated to all Bhareright leg, but was able to raise holders; further, the suggested a herself up. Although she was hurt tarations to the existing Articles
have been open to inspection at she had a clear notion of the this Office hince March 20, and cident as the time and hor imp
I do not think that the new ALPHENTERERisen
ut the Auditors remuneration fronticles call for any special comment son then was that Kwok had
$1,250 to $1,500 per annum,
In spite of the fall in exchange the members of your Consulting Committee have received no in
from myself.
The resolutions were seconded, by Mr. Ho Loung and Mr. A B Stewart respectively..
liberately injured her and her
At this stage the enquir journed.
NEW SE STYLES.
to
our.
Many new shapes have been added "Bective"
range, Black and Brown Leather.
If
in
not
you are already a wearer. of “BECTIVE" SHOES, you will be surprised at the length of time a "Bective" sóle will last. In addition, a "Bective" shoe retains its shape as any of our numerous patrons would testify.
ir
A NEW HAT STYLE.
The opinion has been held in the trade for months that too many men have been wearing hat only a snap "brim for business and
week-ends alike.
one
This new style is without a bound edge. Price Ask to see it. $18.50. Less 10% Dis- count for Cash.
Let your next pair be a Bective-the aristocrat of British Footwear.
Wm. POWELL, Ltd.
Sole Agents.
9, Queen's Road, Central.
Columbia
RECORDS
A New Standard of Realism
MR 660-AUF WIEDERSCEHEN
FOX-TROT
ME 606-LULLABY OF THE LEAVES.. FOX TROT
CB 441-GOODNIGHT VIENNA
MB 608-PARADISE ...
ME 659—AIN'T IT GRAND?
FOX-TROT
WALTZ
BARMY BROS.
The Anderson Music Co., Ltd.
Ice House Street.
CHOOSE
Tel. 21822.
YOUR
SWIMMING KIT
EARLY
Have you seen the new Rubber Horses Ducks, Belts and many other Beach Toys?
Now is the time
to
select your
Swiming Kit, when
our stocks are fully complete.
This
have a large and varied supply of Beach Goods for Women, Kiddies: and Men.
LANE, CRAWFORD, Ltd.