12
STEADY PROFIT
Mercantile Bank Of India
ANNUAL MEETING
DEATH DUE TO MISADVENTURE
Coolie Knocked Down By Lorry
HONG KONG DAILY PRESS, THURSDAY, MAY 7, 1936.
REDUCTION OF
CAPITAL
Is Confirmed By Supreme Court
CLERK WANTED
Warrant Issued For Postal Offence
Ng Ping- 29. clerk, formerly employed by the General Post An inquiry into the death of
Omce. falled to make an appear- The reduction in the capital of Wong Lee. trade in
sanitary coolle. who
Colin Mackenzie & Co., Ltd., pro-
ance before Mr Q.A.A. Macfadyen was knocked down by a motor brietors of the Colonial Dispensary. terday in answer to a remanded" at the Kowloon Magistracy yes- foot of Garden Road on April 17, lorry in Queen's Road
near the from $100,000 to $75,000 was con-charge alleging that on or before"
firmed by Mr. Justice J. J. Hayden, was held yesterday at the Central
Acting Chief Justice, in the Supre- Court before Mr. W. Schade'd.
me Court yesterday. following a The
was composed of petition made by the company. jury Messrs. D. L Allen (foreman), E. Manning and Takashuma Kaname Inspector Alexander appeared for the Police.
The declaration that China and Hong Kong was suffer- ing considerably was made by the Chairman Lord Catto at the An- nual Meeting of the Mercantile Bank of India, held in Londen on March 31.
Lord Carto said:--
In Eastern banking the Fear showed no substantial improve ment over the previous year and our net profits are approximately the same" us for 1934. namely £174,286 against £173,398. The various items of the Balance Sheet require Ettle comment from me as there are
no changes requiring Special "explanation. The all- tions of the profits are the same as last year, namely £12,000 to the Pension Fund, £10,000 to Bank Premises Accouns and £25,000 additional prevision for Contin gencies, and after providing for the same dividend as in the previous year the balance to be carried for- ward is $174.097. 5s. id., compared with £172 830. 17s. 2d. for the year 1934.
You will notice that the Agure of our investments stands at £6,630,- 425, and it may interest you to know that of this 57 per cent, is British Government Sterling Secur- tes. 31 per cent Indian Govern ment Sterling Securities, 291 per cent. Indian Government Rupee Securities and 10 per cent. Straits 2nd Hong Kong Dollar Securities and a small amount of Slam Goy- ernment Tica! Securities.
You may recollect that in aq- dressing you at our Annual Meet- ing in March, 1934. I referred then In the enormous reduction in re- cent years in the volume and value of the overseas trade of the coun- tries in which we work. I am glad to be able to report some slight improvement in this respect during the year 1935. If to-day I speak more particularly of India it is: because I paid a most interesting and instructive visit to that coun- try during the past winter.
INDIA IMPROVES
The general situation, politically and commercially: is greatly im- proved and India seems to be emerging from the depression of a lew. years ago, slowly but surely. The visible Balance of Trade in favour of India for the year 1935 exceeded 70 crores of rupees. It is true that of this the actual Ba- lance of Trade in merchandise was rather less than 25 crores, so that the difference was made up main- ly by the net exports of gold which amounted to 43 crores. We should
February 10, at the Yaumati Pos Office, he falled "to forward a letter addressed to Manila.
Ball of $500 was accordingly loners. Mr. George Bhe, instructed
Appearing one behalf of the petl-ordered to be estreated. by Mr. H. K. Hung, said that at for Mr. S. Ne Quinn said he would Mr. R. H, Cole, who deputised tered authorised capital of the of Ng's failure to appear. its inauguration in 1915 the regis withdraw from the case, because
Dr. R. S. Begbie, medical officer in charge of the Victoria Mortu-company was $50,000. made up of ary, sald Wong died of internal 1,000 shares of $50 each. haemorrhage, shock and multiple injuries, which were consistent with having been knocked "down by a heavy moving. vehicle.
Inspector Logan who took Wong. to hospital said Wong died on the way to the Hospital.
Sub-Inspector Saunders stated that the foot brakes of the lorry were poor but the hand brake was good. He further said that the light was good.
Д
The driver of the lorry sald he was driving along Queen's Road and when near Garden Road, saw abcut 25 yards ahead of him man walking in he middle of the his head down and road with going from side to side as though looking for something.
As he approached the man did he was abou. 10 yards not move out of the way. When away be sounded his horn and
the man shot across the road in front of the lorry.
In 1930, in anticipation of an ex- tension of the company's business, the authorised capital was increas ed to $150,000 by a special resolu- tion of the shareholders, though only $100,000 was in fact issued.
The
intervened just after this and since depression, unfortunately, then the company had decided upon a policy of caution rather than "one of extension. Circum- stances therefore having changed, the company found itself in posses- ston of an issued capital for an un-
GAOL FRACAS
Prisoner Is Sent For Trial
Lau Fong, 21, prisoner in Laichikok Gaol, was yesterday committed, for trial for the manslaughter of Tsol Tong, a fellow prisoner. on February 18, after a knife attack in which Tsal was slashed on the knee and died in the Government Civil Hospital on April 2,
When it was "explained to Lau
ness stand, he said "I will speak that he could either give evidence from the dock or from the wit- at the Supreme Court."
Asked if he wished to call fur- ther witnesses, Lau said "The gone," meaning
Mr. H. R. Butters. Postmaster General; for the prosecution, made an application for a warrant of others have all arrest. He said that had Ng made an, appearance, he would have preferred two against him.
further charges
A warrant was accordingly is- sued.
"ENGLISH WILL BE LANGUAGE
the prisoners who were present at the time of the alleged assault and who have since been dis- charged from gaol,"
Chlef Warder J. W. FitzGerald. In evidence. gave details regarding the work of prisoners. The hall where Lau and Tsol were emplar- ad. he suid. held from 40 to 50 prisoners working on coir ats Some of them were employed in preparing the strings for making matting and others in making the actual ordinary flatmatting on
extended business three times the OF THE WORLD" ms. Others, were employed in
amount of what it used to be since It's Inception
SHARES SURRENDERED Recently 300 shares were offered to the company to be surrendered at $16 each and the directors, after due consideration, decided to make this offer the basis of an arrangement to reduce the capital "The jury" returned a finding of so the extent of $25,000 by accept- death by misadventure and added ing these 300 shares and by secur that the driver of the lorry shoulding 200 more shares, also at $16 be severely censured "for having each. from the general body of the
such bad brakes..
BABY BORN IN
STREET
Policeman Had To Think Quickly
ably knew all abou: dealing with An Indian policeman, who prob-
ruffians and lawbreakers, faced a new kind of problem in Waterloo Read late on Tuesday night when he discovered a Chinese Woman
and a newly born baby.
The constable found the woman. on che pavement and after seeing the safe arrival of the stranger, waited
unti a motorcar with two Chinese occupants.
passed
Mother and baby were taken to the Kowloon Hospita and yester- day were reported to be doing
of course all. like to see the visible well,
Balance of Trade in favour of India!!
. derived entirely from merchandise
but, failing this and so long as such
shareholders.
American Pronunciation Merging With It
From DUDLEY BARKER
Buckinghamshire. Apr. 18. speed; English and American pro- Gradually, and at an increasing
and taking on all the characteris- nunciation are merging into
one
coir mats от
making
frames.
MANY KNIVES
wooden
Those working on the looms. he said. had no need to use knives which were used only on door mats for cutting and trimming. The carpet matting was woven on the looms, and the ather mata were usually made into door mats gymnasium mats. The smallest of these mats were usually inches thick.
On February 28, 1835, an extra- ordinary general sanction and as-tics of all the other forms of Eng-sault, there were 20 knives in the
sent was given for the reduction of the capital to the extent of $25,000 by the extinction of 500 shares at $10 each.
ish-Australian.
South African.
Canadian and
A time will come when English will be опе guage,
Cosmopolitan lan-
On the day of the alleged as
room, and three small knives, any of which were easily accesible.
A Chinese intrepreter Central Detective Office
Fa.
of the testined
This, briefly. was the position of the shareholders, and the position In England.
to reading the charge to Làu on America of the creditors was even more sim- through the Dominions
and
all Apr 3, at 11.05 am. in the pre- ple, because there, was only upe, guage is growing more and more the Jan-
sence of Sub-Inspector "O'Dono" namely the bankers of the com- similar. One day the Middle West awer "to the charge, alleged that Lau in his statement in an- pany, the Chartered Bank of India, Australia and China, Formal as-
öt, U.S.A. will speak the same ton-Tsol attempted an gue as Lancashire or Australia.
indecent 24- sent was also given by this bank,
sult on him the night before the so that the shareholders and the liam A. Craigle,
That is the opinion of Six WI-Aght. The next morning Tsol again creditors had approved of the re-the Oxford English Dictionary and perated by other prisoners. Later
a co-editor of
approached him, but they were so- duction.
editor of &
American English, the first part and in attempting to ward him new dictionary of in the morning Tsol assaulted him or which is to be published in off he cut him. Re-Chicago this summer.
The Court also directed that the company be given liberty to pense with the words "And duced" attached to its days hence.
name 14
CHINA INLAND MIS- SION CONFERENCE
col-
TEN.
Sir William. who has been Pro- of the case for the prosecution as- Mr. M. J. Abbott, was in charge fessor of English at Chicago Uni-sisted by Sub-Inspector O'Dono- versity since 1925, has been lecting material for the American dictionary for ten years and now the beginnings of it are reaching the printers.
Then came
greater traveling
exports are necessary to enable her price is approximaely Rs. 85 per tressing features in China rather other work of compiling a diction-facilities, bringing America and
to meet her external obligations. I see no reason why India should not continue to export gold for a good many years without serious harm to her economic well being, for the bulk of the gold India has exported was hoarded gold and therefore immobiilsed so far as any good to the country is concerned. The figures of the net export of gold from India since 1931 are, of course, impressive. The total comes to a value of 261 crores bat It must be remembered that since 1910 India has imported more than 43,000,000 ounces of gold, which at present day values would equal about, 400 crores, and if the vast accumulations of gola in India prior to 1910 are taken into ac-
count, we may well agree with the remark of the Controller of Cur- rency in India in his latest 'report, that "only a small fraction of India's total gold holding has been realised so far."
Next year Burma is likely to be separated from India, I doubt whether there is any country in the world which has suffered more than Burma from the depression of the past few years. It is the economic weakness of the country that its prosperity is bound up al most entirely with one commodity 1. rice.
Barma exports more rice than any other country had the best index of the well-being of the Burman lles in the price he can get for is "paddy."
In the ten years ended 1929 the price was high, probably too high, but when the alump came the price dropped rapidly till in the 1934 - season it had fallen to below Rs.
hundred baskets.
meanings were given to ordinary He has just returned to England English words, and there was a London, April 21.
to a house overlooking a Bucking-passibility that a quite distinct Regret that there was a tendency proofs of the dictionary in quiet- up..
hamshire village to correct the American language might grow in Britain to emphasise the disuess and to continue with his than to recognise that there were This price has done something to extensive areas enjoying a large restore prosperity to the country measures of peace and tranquility and there also been improvements was expressed by the Rev. Dr. in the price of certain other com- Arthur Taylor at
week end con mcdities, notably in teak, rubber ference in Largs of the China In- and tin. As a result the Gover-land Mission. ment of Burma have at last been The Chinese Government, said able to balance their Budget and Dr. Taylor, was often unjustly
more
ary of the early Scottish language. England closer
FIRST SETTLERS
ů
ין
together again. and from that point the two lan- |guages began to reunite. Between "When the first Engilah, settlers 1800 and 1850 there was a great went over to America," be told wave of English travelers In me, "they took with them, of Americs, and many of them com- course, the standard English of mented on much. They took words from the and brought them back.
the new forms of. the time. To that they added speech. They liked many of them.
I hope brighter prospects are open-criticised for its apparent short-Dutch and the French ing out for the country.
comings without being credited for the definite progress being made in colossal nature than was often ap- spite of difficulties of a
preciated in this country.
The Rev. John Yorkston. of Kopu, churches in his large area were stated that Church and its sister entirely self-supporting.
MALAYA PROSPECTS Conditions in Malaga have con prices for tin and tinued to improve due to higher price of the latter recently touch- rubber. The
ed 7.9/16d., as compared with an average price of 314. in 1933 and 6.7/32d. In 1934.
The other missionary speakers general position is not less obscure has been over 30 years in China; In China and Hong Kons. The included Miss J. R. Anderson, who than it has been for some years Mr. and Mrs. J. Howard Kitchen, and the trade of the country is suffering considerably. The figures of Hungtung; and Dr. Warren of the foreign trade of China for
Knights, of Shanst. 1935 are given as:-
Imports, $919,000,000 against $1,- 029,000,000 in 1934...
Exports, $575,000,000- $535,000,000 In 1934.
against
Ladies and gentlemen. I have much pleasure in proposlag the following resolution:That the report of the Directors with the audited statement of accounts and balance sheet at 31st December. 1935, presented to this meeting, be and the same are hereby received, approved and 'adopted, and that a final dividend on the "A", "B" and "C" Shares of this Bank of 6 per cent, be paid, making 13 per cent. for the year, less Income Tax, as recommended in the report, and the same is hereby confirmed.”
60 per hundred baskets. Buch a Bir Charles A. Innes, K.C.8.L.
price did not cover the cost of pro- duction, and the effect on the prosperity of the country and the finances of the Government was deplorable. I am glad to be able to tell you that in 1935 prices took an upward turn and the latest
KIPLING'S POEMS ·
Early Verse Brings Big Prices
and the Indians and they invented many
USED BY DICKENS hew words of their own.
One of the travellers was Dick- "But by far the greatest change ens, and into "Martin Chuzzlewit" In the English spoken in America he put a large number of new Kah words acquired new senses in which acon became part of Eng- was from within. Ordinary Eng- American words and meanings
reflected the whole social history for instance, was an American in- this new country. These changes fish speech. The word "Loafer," of the people."
got to America they found rivers later Dickens was using it, and vention, and the first time it ap- He gave as an example the word "ver."
peared in print was in a New York When the settlers
1335. magazine in
Nine years. much vaster than those in Eng soon it was land. They wanted new words to English. convey different sizes of rivers Bo "river" remained the word for a
as English ELS the
"Blizzard" is one of
the Zew
big river: "creek' was adapted words which was given its meaning from an inlet to the sea to mean by one man on one occasion. It a medium-size river and branch" used to mean a blow with a st. -the branch of 3. little stream Then a reporter on a
newspaper from a big river-came to mean the little stream itself
+
NEW MEANINGS
in Iowa used it in 1870 to describe 8 storm. Other newspapers began ito copy it, and in the great snow- storm of 1880 It spread to London, April 18. "Bometimes, on the other hand. Thence it went all over the Eng- every American newspaper report. Rudyard Kipling's death is pro- they preserved the ducing a quantity
old English matter in the sale-rooms.
Kipling word which changed over heresh-speaking world.
he continued. "Baggage," as an
"You get hundreds of interest- The late Mr. Arthur H. Scribner example. In amassed a unique collection of English it was superseded by the compiling & dictionary," said Bir 19th centurying sidelights on the country in Kipling first editions and manu-word luggage, but in America it William. scripts, which will be sold in New holds its own to this day. No York next week.
the
CURIOUS SURVIVALS
American would speak of tuggage,' The rarest item is the only but always of 'baggage.""
"Or, again you get curious Buryi- known copy of his "Schoolboy Lyrics" which bears his signature,
His dictionary staff in Chicago, vals like 'ballliswick' an old Eng- CIE.. seconded the resolution,
helped by a number of students, linh word meaning the district of Only Atty copies of the which was carried unanimously. which he wrote at school in Eng-letters, State papers, journals and will find people talking of being poems read thousands of early American a ball. In America to-day you Lord Catto and Mr. W. H. Shel- land at the age of 15, were printed novels, and so traced the changes out of their balllilewick, meaning ford, were re-elected directors and This one was his own. Kipling, in the language since the 17th in social circles above their own. the appointment as directors of Bir knowing its value, was chary of century. Thomas Smith and Mr. James his signature. He sold this copy.
although, of course, there are no Steuart was confirmed.
At first American grew "away | actual baillewicks in America ät himself to Mr. Scribner.
from English. All sorts of new ali,'
Just arrived!
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