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HONG KONG DAILY PRESS THURSDAY, APRIL 23, 1936.
CHINA COAST SMUGGLING
"BIG INCREASE,” SAYS
CAPT. KIRBY
Allegations At Steamboat Co. Meeting
Allegations that smuggling on China Coast vessels was increasing were made by Capt. W. E. Kirby at the annual meeting of shareholders of the Hong Kong, Can ton and Macao Steamboat Company Ltd, yesterday.
Capt. Kirby also mentioned the extent of bribery and corruption in connection with smuggling and ex-" pressed the hope that the Directors would do all they could to intensify preventive measures,
POSITION OF FLOATING "STAFF
Seconding the adoption of the report and statement of accounts, Capt. Kirby sald:—
It is a matter for satisfaction to nate that reference is made in the directors' report to an aspect which undoubtedly has a very serious ef [ect on the Company's revenue, that of smuggling dutlable goods and also the carriage of surrett-
ticus cargo.:
In common with panles on the China
it and lose account. The directors recommend that this amount be carried forward to a new account.
When addressing you last year the Chairman commented upon the unsatisfactory position of the river trade, and I am sorry to say that conditions have shown no sign of Improvement.
The general trading conditions were such as to render inevitable the disappointing result of the other Com-year's working, and I may say that
but for the rigid economy main tained, I would have had to re- port even worse results during the period under review.
coast and
rivers the annual debit arising
from this form of illegal trading must be enormous as a combined total in a year. but I am sorry to suggest that, as one not exactly in ignorance of a little of what is going on behind the scenes, this gefarious business, if it can so be; described, is despite the best in tention and endeavours. very much on the increase."
The commodities dealt in ranges from packets of salt and sugar to even human beings.
We have read and heard in re- cent times, much use of the terms bribery and corruption, but I ven- ture to submit that nowhere more than in this smuggling racket, with its most extensive ramifications. are those terms more deserving of application.
tration, the river steamers are now able to overcome the uneconomic passage rates obtaining before the understanding with the Railway was reached. And I would like to record the directors' keen appre- ciation of the courtesy and the spirit of co-operation shown by the railway administration. Aya your Chairman remarked at this time last year, there was a surplus of tonnage in the river, and with the diminished volume of trade found generally, keen competition deve- loped.
In the Macno Line passage rates were lowered last December in compliance with
agreement with the Inspector of Economic Services of Macao. Your directors Consider the arrangement satisfac- tory.
Ar application for the registra- tion of the company's properties in Canton was sent in last August tollowing a requirement by the Chinese Authorities that the step had to be taken by all foreign pro- perty owners. And as you will have seen from the balance sheet
The
before you, the registration fees paid have been capitalized: matter has been unfortunately de- layed by the Chinese Authorities.
Concerning the company's Can- ton wharves you will notice a debit of $19.211.66 in the profit and loss account for special wharf expenses. The sum represents rental due in
arrears to the Canton authorities
for the two wharves. As you are! aware, the leases for the wharf sites are held in perpetuity by the Company, but the Canton Govern- ment claimed that under Chinese law, the Canton Government had the right to revise the rent in view The position as regards freigh of the changed conditions. Pro- eontinued to be a source of keen Iracted negotiations were COM- anxiety to your directors. That the trading conditions obtaining on the river are chiefly responsible for the losa in revenue in this respect is shown by the fact that the Can ton freight rool agreement was in operation during 1935. and that there was no serious Freight com- petition.
"
As regards the passenger trafic, the returns were more satisfactors, and the outlook is hopeful. The withdrawal of the surplus tonnage on the river during a part of the year, especially in the Macao-Line, contributed in no small.measure to the Httle improvement recorded.
steamer
KINSHAN 'SECURED
DIFFICULTIES APPRECIATED
With you we have a fair Idea
In June, 1935, the Company ac where a big share of responsibility quired from Messrs. Eutterfeld and lies and I feel it is hardly neces- Swire their interest in the Kin- sary to assure you that the dim- | shan, and the transfer of this cultles of the Company in this res-
to the Macao. Line has pect are fully appreciated. At the shown favourable results. Whilst same time I believe you will con- frèight has not improved, passagė cur in my contention that while money
would seem efforts by the floating staff to justify your directors' decision to minimise this nefarious practice Improve this run by the operation are unremitting, their position is of a faster steamer. none the less difficult and invidious
"The instability of exchange dur- with the metaphorical gun of ex-ing 1935 and the high. customs tremism pointed continually at tari continued to handicap "both them by those behind the rang
Diplomatic peurpariera may be 'polille and deriving of advantage in dealing with individuals and bodies of understanding and good will, but such would appear to be wasted when the only response of those so approached is the non- slackening of endeavours to ac- cumulate further illicit gain,
If then It is at all possible to tighten up and intensify preven- tive measures in this respect I am content to believe that such will in the mutual interest of all, have the careful consideration of the directors.
returns
to
import and export business. As a consequence. smuggling was rife, with the result that goods which otherwise would have been trans- ported by legitimate means were smuggled into Canton,
met with during the year,
Despite the serious difficulties the working account shows an increases of about $39,771.97 and your direc- tors hope that company's · adzirs Wii show marked improvement för | the current year.
and careful
Your Directors have given close attention to the economic running of your steam- ers, Steamers' disbursements, com- pared with the 1834 figures, show Mr. M. K. Lo (chairman) thank- an appreciable decrease, but re- ed Capt. Kirby for his apprecia- | pairs are up $11,219:20 due to the tion of the serious difficulties with extensive overhaul of two of Com- which the Company fiad to con-pany's best steamers, the Taishan tend and, declared that smuggling and Lungshan. was a question that was exercising the minds of the Directors con- cmually. He assured the share- holders that everything would be done in the way of preventive mea
sures.
The amount of $48,648.47 that it la proposed should be written ou the value of your steamers is the) usual. Ave per cent of their book value,
Investment fluctuation account
Capt. Kirby--And the floating shows a reduction during the year starr will carry on in the same of $39,423.10 which represents the spirit.
ADVERSE BALANCE
Mr. Lo said:--- The directors regret that the re- suit of the working for the year
· ended December 31, again shows an adverse,balance. The nett-logs for. the year is $187,017.02 which, to- -gether with the debit balance of.. $310,485,90 "brought forward from
amount of depreciation in the market value of shares held by your company as investment. Last year your directors were again obliged to sell certain shares to meet the heavy 'overdraft, with our bankers.
which has been to operation since The Canton pool agreement,"
1933,
has been renewed.
RAILWAY AGREEMENT
Your directors are pleased to re- the 1934 account, brings the total port that, thanks to the co- to $437,502.98 at debit of the pro-l operation of the railway adminis-"
menced as long ago as August, 1930, and were concluded only in December, 1935. I would like to record the directors' thanks to Mr. T. F. Lo for his services in bring- ing the negotiations to a conclusion ! acceptable to the directors in all the circumstances.
(Continued on Page 3)
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