BETTER TIMES AHEAD
Indo-China Company Orders New Vessels
Preskiing at the annuäi mesting of shareholders of the Indo- China Steam Navigation. Companý, Ltd., hold in Messis, Jardine's "board room yesterday, the Hon. Mr. J. J. Paterson fold the share- holders that three new ships are now being buffs for the Com- pany at Kowloon "Docks, He explained that in view of the trade revival and other optimistic signs following the union of North and South China, it had been deemed advisable to order the ships.".
Those present" were the Hon. Mr. J. J. Paterson (chairman), Sir Robert Ho Tung and Messrs. M. T. Johnson and S. T. William- son (Brectors), Mr. C. T. Tod (secretary), Mr. R A. Wadeson (solicitor) and Mesars. M.-E. Lo, W.- E- Kirby, - N.-L. H: Rafton, A. M. da Silva, A. Murdoch, H. W. Dulley, Chan Wing, Chul Sin. nam, A. E' Wilcox, J. Fleming (shareholders), Addressing the meeting. Mr., former years. Paterson said:-Although shipping
in the East naturally enough 13 affected by the tonnage position of world markets, it would be a mis- take to suppose that the tide of prosperity that has overtaken the abipping Industry in other coun tries has reached these shores at anything like full food. For the past two years or so this market
Trading conditions
were better on the Calcutta Line. but we incurred unusually heavy repair bills in refitting our ships to comply with the requirements un- der the Simla Convention; I made reference to this point in my pre- vious report.
I should like to remark here that a great deal has been said in the Press of late about competition in has been over-tonnaged, for the the trades between India and the
amount of business offering, and even as late as July last ter steamers were lying idle in Hong Kong, Eater in the year, trades outside China improved and, as vessels left the Coast; the tonnage position in relation to the volume of trade began to adjust itself, a process that must of necessity take time. However, the Company is benefitting by the improved trading conditions and I am glad to report that the net balance of steamers' working accounts this year shows ́a pront of £82;539 38: 4d. as against a loss of £27,346 11s. 6d. last year. After deducting the debits usual to] Revenue Account and adding cer- tain credits, all which are ex- plained later, the year closes with a loss of £12,368 8s. 11d.
ABNORMAL WINTER'
1.
The year opened inauspiciously with North China in the grip of an abnormal winter. An almost im- passable barrier of ice lay in the Gulf of Pechili from Torgku across to Chefoo from January until March and a number of ships. 1n cluding same of our own, sustained considerable damage, to rudders and propellers whilst trading in that area. An inevitable result of the frozen state of rivers and har- bours was delay, and the shipping Companies whose vessels were caught by ice must be very grate- ful to the Inspector-General of Customs for remitting tonnage dues during that period of forced inac-") tion. The Port Authorities at Tientsin were unable to provide sufficient ice-breakers to keep the river open; and although it hás been ruled that there would be no
Far East where our Company was one of the planeers, but the mat- ter is "sub judice" and for the mo- ment I must leave it.
Bre
Your Directors once more pleased to report that no major casualty occurred in the feet in the period under review and I feel sure you will wish to ssociate your selves with them in paying a well deserved, tribute to the floating staff. In passing, you will have read of the stranding of sa. Hop- sang on Garanbl Point. Formosa. on March 11 last. At the time of the accident she was in a light con- dition, appears to have been over- whelmed by stress of weather and is likely to become a total loss.
THE FUTURE
As regards the future position of
have been short of tonnage since the Company, you know that we
1931 and have had to charter. The
disadvantages of employing other people's ships to-day will be ob vious to you but to charter was the only method available to watch our interests until the promise of better times justified a longer view. Towards the end of 1938 it seemed
HONG KONG-DAILY PRESS, FRIDAY, APRIL 9, 1937.
WEDDING AT
REGISTRY
Espenas Lavrouhina
Lieut.
Arthur
Krag Espenas,
UAN.. son of the late Mr. Kristian Doll Espenas, was marri- ed to Miss Antonina Lavrouhina. of 8, Harl Avenus, Kowloon, at the Registry of Marriages, Supreme Court, yesterday after- noon. Mr. J. Whyatt, Deputy Registrar of Marriages, omiclated. The witnesses were. Captain Hamilton Freer Glover, U.S.N.. commanding the South China Patrol US. Asiatic Fleet, and Mr. John C. Pool, Vice-Consul for the United States.
The bridegroom is attached to the U.S.S. Mindanao. The bride Feodor Ivan Lavrovhina. is the daughter of the late Mr.
CHARGE DISMISSED
A charge of obtaining money by false pretences was preferred against Ng: Fu, was dismissed on the ground of insufficient evi- dence. when he appeared before Mr. K. Keen at the Central Magis tracy yesterday.
بالا
The complainant, Chong Ying. building contractor. No 19, Sek Kip Mi Street, Kowloon, said that defendant and a friend came to his shop on February 5 and intro- duced some business to him say- ing that he knew a friend who had houses in Wanchai which who
14
THE S. AND S.
CAMERA CLUB
Many Beautiful Photographs
The second annual exhibition of the 8. and Camera - Člub opened last evéhing at the Sailors and Soldiers Home in Hennessy Road. There were a great many entries this time and many beauti- ful photographs are displayed,
We learn that "the Judges were both delighted and surprised at the very high standard, and the
com- satisfactory technique and position of the pictures. In fact they state that there is a very definite Improvement, shewn since last year, not only in the actual work, but also in the method, of ita display.
い
OPEN CLASS
Section "A" (Pictorial) First Prize, value #60; Second Prize, value #30: Third Prize, value $20; Fourth Prize, value $15.
Consolation Prizes-Four Bor- roughs Wellcome Exposure Cal- curators and Diaries. and other prizes by recommendation of the Judges.
Winners in this section were all or outstanding merit and were:
1st Prize: "Early Morning in
by A. P. Glanville. New York, seen from Queen Mary"
Colonel J. F. King.
2nd Prize: "Starboard it is" by
ed. Contracts were signed on thew, J. Tles, he would like to have reconstruct- 3rd Prize: "Fishing Tackle" by
agreement that defendant should receive $400 as commission out of every 87,400 being work done on each house.
payment for
On enquiries made, Chong dis- covered that the houses in ques- tion were not to be pulled down as defendant had stated. He ac- cused defendant of having. de- frauded him of 4250 which he gave him as part payment of his commission.
Defendant stated that he would
was in the hands of another per- be able to return the sum which
son.
4th Prize: "Stromboll" by W. C. Clark
.}
Consolation Prizes to Mias J. Seath (for a clever study of pup- ples), G. G. R. Grant. (Mohammed Ali Mosque, Catro), Marine," W. Hall (Eventide, Stonecutters), C. S. Kwok (Moonlight),
Other very charming pictures in this section were a lovely tree-top scene by Lt. I. G. H. Garnett, a peaceful Pastorale by á. P. Glan-
Glen-Enit and an artistic st- ville. Eephants bathing by J. A
houette of grass-cutters by Q.M.S. R.. F. Moss..
* OFEN CLASS
Section: "B" (Scientific; Etc.)
Just Arrived!
LANE.
INFANTS'
CHRISTENING ROBES
IN
SILK. NET
CREPE - DE - CHINE. DAINTY EMBROIDERED.
-1 1
DESIGNS.
CRAWFORD • LTD.
The House of Quality & Service
First Prize One Kodak S-18 CHARCOAL Camera with 1 4.3 Lens and Carrying Case, value $42. Con- Prizes Two Burroughs Exposure Calculators
Wellcome and Diaries.
1st Prize: "Arum Les" by W. J. Iles.
Consolation Prizes: "The Wel- der" and "Rose" by C. 8. Kwok. MEMBERS CLASS
the closing rate on the last day of the year 1/274. compared with the clear to the General Managers that closing rate for 1935 1/38d. Also both chartering rates and the costa gain in exchange on femittances to meet our sterling liabilities, the of new tonnage were likely to risa considerably in the near future.
rates obtained during the year besolation and that the time had arrived tong more favourable than the clos- Implement a part of the Company's in rate on 31st December, 1936. bullding programme.
After allowing for the above; During Nov., an order for two
there remained a debit of £12.368 coasters of the Taksang type and Bs. 11d., which it is proposed to one small winter Upper River carry forward to the year 1937. Kong and Whampoa Dock Co., Ltd.
SLIGHT INCREASE steamer was placed with the Hong
Coming to the balance sheet it As in the case of the Taksang, we will be seen that steamships, hulks. negotiated a loan with the. Hong launches, etc. show a sight in- Kong and Shanghai Banking Cor-crease of £2,821 88. 11d. due to pur- chase of lighters, while deprecia- only once in 25 years, it should not gage certain ships as security. It ion has been written of on the be overlooked that the closing, of will be appreciated that very large usual basis and amounts to. £51,
sums of money will be required 740 95. 8d. You are reminded that aggravate the grave smuggling for new tonnage or to create build- no depreciation could be allowed problems of North China. Trade
for în 1934 and 1935. Sundry debt- was brisk after the thaw but latering and other feserves in cast
Justification for making provision against ice conditions that obtain
the sea route to Tientsin, would
settled down, to a more normal
volume:
In the South, business remained
quiet during the first few months of the year, and ships were ac- tually withdrawn from long estab- lished t.ades but in July an event occurred which gave trade general-. ly in China tremendous impetus-- | that political unity achieved by the Central Government which
poration to whom we shall mort-
►
original
First Prize, value $50; Second
posure Calculators and Diaries,
MURDER CASE
Further Evidence Recorded
The continuation of the Char- coal Murder case before Mr. E.
-
Prize. value $25 Third Prize, Himsworth
worth attracted crowds to value $15. Consolation Prizes the Courtroom of the Kowloon Four Burroughs Wellcome Ex-Magistracy yesterday afternoon, in which chlu Yuk Fai, 24. and other prises by Recommenda-
draughtsman, and surveyor tion of the Judges.
1st Prize: This Freedom" a ployed at the Public Works De- flying gull) by S. Morgan,
partment, is charged with the 2nd Prizes: Dhow, Suez Canal" murder of a woman, believed to by A. 'R. Brown, a
Cheung Sam Ku, aged 27, on the be, Cheung Yuk Ching, alles
thrid foor of. No. 323, Reclama- tion Street, on February 28.
3rd Prize: "Inland Waterway" by E. W. Fie ding.
4th Prize: "Jullet" by A. R Brown::
that the two new Taksangs and balances,
I am glad to be able to tell yours in China and London, Agency coal, and stores show slight the Upper River ship are cheap-10-
variations and all the deer when viewed in the light of amounts owing to the Company to-day's prices and the
have been accounted for. Taksang is if course, a better bar-Underwriting Account shows a re- With regard to the liabilities, gain still
It is difficult to 'nx.a point but duction of £1,498.135. 14. due to sundry accidents not recoverable the wise man buys on · a risinız' market-perhaps our best just under our policies and now stands fication for acting when we did at £461100 Special Repairs and Those of us who live out here can chiefly to ice damage to which re- Last autumn is China herself. Renewals Account has been de
creased by £10,208 19% 04., dye | look with admiration at the great things Marshal Chiang Kai-shek ference has been made already, ment will have far-reaching effects and his Ministers have achieved, and now stands at 23,172 18s. Od. E. W. Fielding, also a Curious Chiu Yok Fal, testified that on
Sundry creditors
brought the Bouth-western pro- vinces under Nanking's control. I feel that this outstanding achieve-
on the future welfare of China. things that seemed impossible a
During the latter half of 1936 all few short years ago.
During the lean years we have passed through, when this Com-
our vessels on the coast were well filled, and steps were taken by the various lines with whom we are
Consolation Prizes: "Leisure
Mr. E E. Williams, Assistant Moments" by C.R.. Colling, "Fly Attorney, General, assisted by Det.- ing Angle", by 8. Morgan, "Even Insp. A. Carey and Det.-Insp. ing off Macao" by F. W. Clark.
Other very attractive photos in C. R. Rozekwy; prosecuted while this section were a most artistic Mr.DL. Strellet appeared for the
defendant... spray.or qatidins by 5. Morgan, a fascinating picture of the, willow.
Chiu' Chi Fong, residing in the pattern tea-house in Shanghai by same house as his half-brother,
in China and. shady of two bronze heads by w.awakening from: sleep he saw a London now stand:at.£216,852 148 Widdowson. Aquaint old Chinese stranger dressed in workman's 5d. as against £234,363.43. 3d. last rope-winder by A Churchman, clothes standing face to face to year. The balance due to the and two amusing pictures from the accused between 2.15 and 2.30 | General". Managers has increased | the Zoo of 3. Pelican (the pm, when he (withers) wie pass-
called Dignity). Returning between 4.15 and 430
associated to advance rates of pany failed not only to make its trom £87,038 la. Id. to 128,828 159, Sergeant-Major) and Penguinsing through the teng to go out. freight as fast as was practicable depreciation but incurred heavy 5d. but, our Sterling Loan Account (appropriately Unfortunately, progress is likely to cash losses, as well, and with all with the Hong Kong and Shanghal We must not forget a clever sam pm, when witness took off his
be slow and difficult when it comes to revising tarifi.
borrowing power fully mortgaged, It would have been unwise to at- tempt to launch cut on an ex- ABUNDANT HARVEST
tensive constructional programme On the river, happier conditions
set to build at the height of prevalled throughout the year against the background of an abun-boom entails trouble of another
dant harvest. In my speech last year
I referred to the neɛd`pf- agrarian reformiz. China, and none seeing the repopulated farms in the Yangtze Valley could possibly doubt the inestimable benefits such a measure would bring to the whole country. As another indication of the settled conditions prevailing along the Yangtze, armed guards on British ships were withdrawn in July last. These guards have been carried off and on for the past eight-years, and their further 'use
sort.
"
DIRECTORS' GENEROSITY The Directors have again waived their fees amounting to £1,500 per annum and this money will not be held in suspense.
Banking Corporation amounting to £82,165 1785d has been paid off. The contingent Hábility for cumu- lative preferred dividends for 11 years amounts to £163,843 148, Od
I do not think there is anything more in the Accounts to be com- mented upon and now propose the following resolution: That the Report and Statement of Ac- counts as presented be adopted and that the debit balance of £12,368 8s. 11d. be carried to next year."
The proposal was seconded by Mr. M. H. Lo and agreed to un-
OTHER BUSINESS
Dealing with the statement of accounts, the items debited to re- venue. amount of £83,621 145 8d. as follows, general charges £6,422 animously... 6s. 6d., depreciation £57,748 94, 80.. floating star pensions £10,841 138. 90., Interest; £8611 48 9₫
pan study and a group of Chinese coat to rest, be heard a cry, sig- children by A. Sambrook
nifying fire. Immediately witness In fact the photo displays, are blew a police whistle after which so outstandingly good that we he went to get water to put the strongly recommend all amateur fire, out photographers to see this exhibi- On approaching the kitchers of tion which is open to the public the house, witness' saw a number on April 9 and 10.
OLD ALLEYNIAN DINNER
T
of people among whom the ac cused was one. Witness, also noticed that the kitchen was on fire and smoke was rising, while the water tap was turned on at a Liow 'pressure. Witness stated that accused took the basin of water sa: soon as he reached the kitchen The Old Alleynilan Dinner was from him and poured it down the held in the Jacobean Room at the kitchen; denn was t ///Mr}}- AL-Murdóch proposed and Hong Kong Hotel on Wednesday,
On hearing a fireman say that Mr. H: W; Dulley seconded in the night....... Mr. 44. B. Raworth was; in Items credited to. Revenue Ac-re-election of Messrs, M. T. John- the chair. Mr. C. A. L. Rickett there was a dead body witness saw count amount to £71,253 58. 94. son and 8. T. Williamson as direc-proposed a toast to His Majesty the accused run hurriedly down the We are, as always, very and include balance brought for-tors. This was agreed to.
King Mr. E. Bathurst proposed a stairs of No. 321, Reclamation grateful to His Majesty's naval and ward from 1938. 21.331 17a lid. On the proposal of Mr. N. LH toast to the School and Mr. A. B. Street, while he followed behind milltary authorities for their in-gain on working of steamers £82- Railton, seconded by Mr. A. Mễ da Raworth, proposed a toast to the only to lose sight of accused in
688 38. d. transfer fees £32 14 Bilya, Mr. John Fleming and Mr. A: Master Among those present the street. ' As a result of the polley adopted of and Exchange Adjustment Ritchle were re-appointed auditors were the following-Meners, A EN After further evidènce was given last year by the Borneo exporters £7,350 114. 4d The only Item at a remuneration of $5,000, CH Raworth, 0. &. 8. Russ, J. H. Sethi by several witnesses: (including in restricting the shipment of tim-calling for comment is Exchange A vote of thanks to the chair was 8. H. Langston, E. B. Lambert, C. Wong Yee Sung, mother of the ber, our vessels on this run did not Adjustment. This is due to nasele proposed by Mr. W. E. Kirby and A. L. Rickett, G. E. L. Johnson, H. accused), the case was adjourned do as well as they have done in 'and liabilities being converted at ❘ seconded by Mr. A. Murdoch.
is now considered quite unneces-
sary.
valuable assistance.
C. Lee, and E Bathurst,
till noon
Children's
Department
MEZZANINE FLOOR.
A GLASS OF
KIRIN BEER
Tel. 28151.
NECESSARY REFRESHMENT WHEN GOOD COMPANIONS MEET.
SOLE AGENTS
H. HONDA & CO.
TEL. 20720.
SOLE!! IMPORTERS OPTORG COMPANY.
40, Joanston, ROAD HONG KONG.
11
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A LIQUEUR
To JUGGLE With
But Deserving Of Your WORTHIER EFFORTS in
the little matter of mixing
TOYAM
COCKTAIL.
COINTREAU
DRINK ONLY GOOD WINES
THE BEST
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W.R.LOXLEY&C (CHINA) L: 30593