HONGKONG DAILY PRESS.
Finance and Commerce
ACTION OF JAPANESE NAVY STRONGLY CRITICIZED AT DOUGLAS STEAMSHIP
-COMPANY'S MEETING
Continued Interference With British Merchant Shipping Unjustified
justinable seizure of the "Sagres" by the Japanese Navy as reported 1. this morning's Press as Tol-
ws:-
Be
I do not think there is anything
further in the accounts to com-
ment upon, so now beg to propose that the report and accounts as submitted be adopted and passed. As soon as this Resolution has been seconded I will be pleased to answer to the best of my ability questions shareholders may desire to ask."
any
SECONDER'S REMARKS Seconding the motion, Mr. Wright said: "It is with great pleasure that I rise to secofid the
chairman's speech.
The splendid showing for 1938 reflects great credit on the con- sulting committee and general managers and the staff ashore and afloat, and it is therefore an added The peers and crew of the a.& pleasure for me to be able to en- "Sagres have returned this after-dorse whole heartedly the scheme noon from the Pescadores in the for a Provident Fund. Japanese ship "Canton Maru."
Although the future of coastal fore Teaving the Pescadores the Master was informed that the shipping is always obscure the "Sagres" has been detained for fur strength of the balance sheet s ther examination by the Japanese presented places us "in а very authorities and her part cargo of strong position. 80 tons salt would be confiscated. Both officers and men during their 14 days detention at the Pescadores examined by the were repeatedly
by the Japanese authorities as to the bona fides of the
the ship. her cargo and
STRONG CRITICISM OF THE JAPANESE NAVY IN DETAIN ING THE S.S. SAGRES, CHARTERED VESSEL OF THE DOUG- LAS STEAMSHIP CO. LTD., was made by Mr. W. E. Kirby, Secre- tary of the China Coast Guild, at the 56th annual general meet- ing of the company, held in the P. and O. Building yesterday. -
"In general, this further un- warranted action against Bri- tish property simply amounts. to armed piracy, although' such reference may conflict with diplomatic niceties." Mr. Kirby said. "But in view of the fact that this latest outrage is only one of many recently' on 'the China Coast where British shipping is concerned, it would seem full time that His Ma- Jesty's Government informed the Imperial Japanese, Govern- ment in no hesitant and ap- peasing terms that this con- tinued interference with Brl- tish merchant shipping pursu- ing is lawful occasions is not only a hostile gesture towards a nation with whom normal relations exist, but it
is
also an unjustifiable policy which will no longer be to- Ierated."
Mr. 9. T. Williamson, was in the Chair and others present were Sit Robert Kon Tung Mĩ. HJ An strong. Mr. H, V. Wilkinson (Con- sulting Committee)) Mr. C. L. Farmer (Secretary), and the fol- lowing shareholders: --- Messrs. T. Ramsey, W. E. Kirby, A. H. Potts. J. F. Wright, Jnr., N.V.A. Croucher. C.B.. Brown, Hon Yan-lam, Capt: O. H. Farrar and Capt. W. B. Patey. A favourable year was reported. which was attributed by the Chair- man largely to the abnormal con- ditions prevalling on the coast. The Chairman alsc made refererice to the detention of the Sagrès.
A Provident Fund. Scheme, re- ference to which was made last year, was approved.
CHAIRMAN'S SPEECH
I therefore have pleasure in seconding the proposal that the report accounts and provident scheme be adopted and passed,
The motion was carried unani-
FINANCE
BEST FINANCIAL YEAR:
THURSDAY, APRIL 27, 1939.-PAGE IT
H.K. AND YAUMATI FERRY PUBLIC AUCTION. LAMMERTS' AUCTIONS
CO.'S ANNUAL MEETING
The Hongkong and Faumati Ferry Co., Ltd., during 1938. secured a 'net profit, of more than $285,000, it was revealed at the annual general” meeting of the Company at the Company's office Jordan Road, pler yesterday.
Ordinary shares.
The Company thus experienced between Hongkong and Cheung its best financial year in the past Chau, Tal O, Tsun Wan and other mitted dividends of $2.90 on Pre- for these exclusive services and 15 years, shareholders being per-places. We submitted our 'tende.
ferential shares, $2.40 оп Old on October 29 we were informed Ordinary shares, and $1.40 on New that our tender had been accepted. The ability of the Company Subscriptions to charity during to operate their new services the year amounted to $3,600, while smoothly and efficently on Nov. 6, there were 80 cases on life saving awards, of which | 1938, (8 days after acceptance), record.without any additional vessels, speaks highly of the energy and clase Mr. Lau Tak-po, Managing co-operation on the part ok our Director, took the Chaif, Together entire staff to whom thanks are with almost 100 shareholders, the due-particularly so as the work- directors present were Dr. Kwaning system is entirely different to Sum-yin, Messrs. El Kwon Chuen. Cheng Young Tsun-dart, Choy and Wong Chot-hoo.
amounted to $264.50.
Sing-kue, that of ours. The new services Kwok-on. | provided are a great improvement Wal-hung on those of our predecessors.
NEW PIERS
The annual report, read by Mr. Lau Tak-po, was as follows:
THE
HE Undersigned have received
Instructions
TO SELL BY
PUBLIC AUCTION
אס
"FRIDAY, the 28th APRIL, 1939
Commencing at 2:30 p.m.
At their "Sales Room, No. 2. Connaught Road, Central,
Ground Floor,
A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE
Comprising:
Tenkwood Divans, Wardrobes, Dressing Tables, Chests of Drawers, The allotment of a new pier on Sideboards, Dining Tables, Chairs, the Hongkong side for the Hung-Chesterfield Suites, Hat stand, hom service has enabled us to Desks, Typewriter Tables, Book- The traffic on all our services increase the 'Kowloon City services cases, Carpet, Wardrobe and Cabin has shown general increase to a quarter of an hour service. Trunks, Gramophone and Records, during the year and has broken Separate waiting areas are
Electric now Typewriters,
Lamps.
TRAFFIC INCREASE
ม
also..
FURNITURE
and
all previous records. In view of provided for the first and second Curios, Porcelain, Glass, Brass and this, your Directors have recom-class passengers who are now able E. P. Ware, Cutlery, Ornaments, mended the payment of a larger to cross the harbour in about 30 etc., etc. dividend which we trust will minutes. First class season tickets receive your approval. It is felt are now available at $3.00 each that this increased dividend will and student tickets at $2.00 each. A FEW PIECES OF BLACKWOOD be greatly appreciated by those of The construction of a new pier our shareholders who have sus by the Government off Pottinger tained heavy losses through the Street will further improve our war in China.
services and provide morE "MOM You will no doubt note with | for a large and up to date bus pleasure that the overdraft with terminus. Sir Robert Eo Tung, Mỹ. E. Y. our Bankers, Messrs. The Hong- The report and accounts were Wilktrison and Mr. H, J. Armstrongkong and Shanghal Banking seconded by Mr., Soo Ho-yu. were re-elected to the Consulting Corporation has been fully re- MESSTE, T. A. Martin and Com-.. Committee.
pald and that for the first time pany were elected, and Mr. Li Messrs. Linstead and Davis and in six years we now have a sub- Tung re-elected auditors for 1939. Messrs. Lowe, Bingham and Ma-stantial amount standing to our
NEW DIRECTORS thews were re-elected Auditors.
credit in the bank.
ports of call-there can be no doubt as to the right of the ship to fly | mously. the Red Ensign or of the correct- ness of her trading.
[
OTHER BUSINESS
"It will be recalled that H.M.S. "Thracian" was sent from Swatow to investigate when the news of a threat of seizure was received, H.M.S. "Thracian found the "Sagres" the hands of prize, crew and un- der naval escort, although strong protest was made by her
her Command- ing Officer to the Japaness destroy- er Commander, the right, to board the "Sagres" was refused. Since the seizure
zure of the "Sagres" energetic Mr. Kirby said: Mr. Chairman netton has been taken with the and Gentlemen: After perusal of Japanese Naval authéritles and the matter has been referred to the the Company's Accounts for the Foreign Office.
past year I feel it incumbent on
The
Mr. W. E. Kirby
results of these protests is me to first compliment all concern- not yet known but in view of the led on the creditable showing. unwarranted detention of the vessel further action will be required to accomplished, as it has again been, effect the release of the vessel. The over a period of uncertainty and owners and the Douglas S.S. Co.. continuous strain. Ltd. who are the charterers have
Secondly. I
would thank the
TENDER ACCEPTED
The ballot for new directors resulted as follows:
In September last, the Govern- The Hon. Mr. T. N. Chau, Mr. lusive ferry service for the trans-Yin, Mr. Li Shing Kui, Mr. Cheng ment invited tender for the ex-Young Tsun Dart, Dr. Kwan Sum portation of passengers and goods Kwok On, Mr. Chan Kam Yung. CHINESE BOYCOTT
OF JAPANESE GOODS
Mr. Choy Wai Hung, Mr. Wang Kwok Shuen, Mr. P. Gockchin,
Mr. Chan Chan-ding expressed the gratification of the share- holders to that the Company had shown the best profits in 15 years, CHUNGKING, April 28 (Central) | and after" thanking the manage- -The Ministry of Economics has ment and directors, expressed the
fully satisfied the Authorities as to General Managers for the different issued a circular telegram to the hope for an equal. if not better
י
↓
authorities of
various provinces year this year, and municipalities asking them to exercise greater care in prohibiting the shipment of Japanese goods labelled with faked Chinese trade marks to the interior.
the bona fides of the Sagres."
Although this incident did
Items of Information tendered by the Chairman in his address and, not take place during the year, under review, it is mentione
mindful of certain submissions I at this meeting owing to it's
made at the last Annual Meeting I grave nature and in order to am particularly glad to hear of keep shareholders advised as the inception of a Provident Fund to the actual position.
for the Floating Staff. It is indeed The Chairman said:-After pay-
Our investments have appreciata practical gesture by the Generá
The Ministry has received reports. that large consignments of such ing all running expenses, docking ed in volume since December, 1937 Managers which I am sure will be charges, insurance premia and all and this appreciation is shown in much appreciated by the Staff and Japanese goods have recently been to: Kwangtung, Hunan, allowances, writing off depre- the accounts, and Investments one which will have its resultant shipped
Kiangsi, Kwelchow and Kwangsi ciation and transferring 5275.000 stand at the market rate as at reaction in the Inspiring of to general reserve. the sum avall- December 31, 1938.
greater feeling of confidence bet through Wenchow and other" ports. able for distribution is. $426,932.00 It will be noted that the interest ween both sides.
Not long ago the Ministry com- which includes the sum of $118.- and dividends on Investments are Managers will disagree with me together with their trade marks I do not "think the General piled a list of Japanese imports 384.18 brought into the Account shown at $18.931.00 actually the when I submit that, in all profes- and names of manufacturers as re- from last year. Your consulting amount is a good deal higher, but committee and general managers in order to conform with modern sons we have two types of men: ference for the Chinese publie in propose to appropriate this sum as practice we are departing from our the one who simply does just what the boycott of Japanese goods, To
previous method of anticipating
he's got to do and the other who circumvent Chinese precaution Ja- dividends on Investments-it new enthuses interest into his allotted panese manufacturers and unscru- $100,000.00 mearis that only dividends received task. So it is with the Merchant pulous Chinese merchants are i $100,000.00 during the currency of our finani-Service; we have the man who alleged to have now labelled Chi-
cial year will be shown in the ba-more or less gets around in the ship nese trade marks $228,532,75 lance sheet in future.
and the "other, that takes an in- goods. terest in getting" the ship around. AN IMPLICATION
follows.-.
To Pay a Dividend of
10% ($5 per share)
To Pay & Bonus of
10% $5. per share: To Carry Forward to
next account
$426,932,76
PROVIDENT FUND
As men of the world I know there is no need for me to indicate
On Japanese
At the last annual meeting, re-
minded that the waters of this While being pleased to be able ference was made to the proposed If the managements of mo1 Colony have been and are available to present such a favourable re- formulation of a Beneft Fund for British shipping companies operat-to their merchant tonnage without port for the year ending December our floating staff, provident oring to-day on China's coast and let or hindrance and that every 31, 1998, this, as you will doubtless otherwise, and also regarding a rivers would realise the implication facility is, as it should be in that ↑ appreciate, has been largely due bonus payment of 10 per cent, on towards those to whom they entrust in direct contrast to the action of of that point and act accordingly connection, extended to the. This to the abnormal conditions pre- salaries" to be paid to certificated valling on the Coast, and unfor- ranks with unbroken service during their shipe, lives and cargo. then I that Government in not only for- tunately there is no assurance that the year 1937. Your consulting certain that a position which Idibly seizing and detaining the these conditions will continue-in) committee and general managera
have frequently experienced and "Sagres" but also in subjecting her saying this I do not mean to be now intend to fulfil their promise whereby officers will accer service officers and ratings to an in- pessimistic nor do I intend to try and have prepared a Provident
in some Companies only through|quisitorial questioning. and forecast the future which is Fund scheme which, if the amount sheer economic necessity, would na UNWARRANTED ACTION much too obscure and all we can is approved at this meeting. wil
longer obtain.. do is to hope for the best. The be implemented immediately. deet value stands at a very conser- The scheme consist of inaugu vative figure, and we now have a rating a Provident Fund, the printo the General Mariazers, which of reasonable reserve Fund in hand cipal of which is, that an initial the types I have referred to is the to meet any unforseen contingen-starting grant will be made to the man wouth encouraging," but "the fund by the company for each cer-
nature and conservative outlook of During the arst half of the year tificated Officer now serving on our the average British scaman is such under review the coastal business vessels with service prior to De-that he places far more value on "exceptionally good, but cember, 1936-the sum placed. to the proverbial ounce of practical the year the credit of each member of the encouragement as against a ream showed quite $ reduction in Provident Fund to be based on his the ordinary merchant bus-length of service with the company China, cost, and adjacent ports to-
· The getting of a ship around the ness on the coast, principally as at December, 1936, plus the -due to uncertain trading, and to 10% Bonus granted for the year as we know them, is certainly no ¡day and under the circumstances the exchange position which fuc 1837. The total sum necessary to tuated widely between 105 and start the Fund is $97,701.- which
sinecure and I would cordially 195-this of course is also reflected may appear a considerable sum, this provision they have now made thank the General Managers, for in our coast port earnings, there mit your consulting committee and have also been serious restrictions general managers consider it rea-
for the Floating Staff. between our various Ports regard-sonable and desirable to provide JAPANESE NAVY BLAMED
We are naturally very relieved
icles.
was
the latter half of
of eulogy.
In general, this further un- warranted action against Bri- tish property simply amounts to armed piracy, although such reference may conillet with diplomatic niceties. But in view of the fact that this latest outrage is only one of many recently on the "China" coast where British shipping is con- cerned, it would seem full time
- that His Majesty's Government
·Informed the Imperial Japanese Government in no hesitant or. appeasing terms that this con- tinued Interference with British merchant shipping pursuing its
·lawful occasions is not only a busille restare towards a nation with whom normal relations exist but it is also an unjustifi- able policy which will not '· longer be tolerated.
ing the carriage of deck passen- for the future of those who have gers. The "Beistan" purchase re- served us faithfully and loyally into hear of the safe return of the ferred to by the chairman at the the past. The scheme will there- niaster and crew of the Company's Until, some such definite line of last Meeting has proved to be well after continue on the usual basis chartered s.. "Sagres" after their action is taken by Els Majesty's justified.
of the employee and employer trying experience,
Government there is not the SAGRES INCIDENT
making monthly contributions to This aspect, however, in no way slightest doubt but that inter- Due to the position at Amoy and the Fund
absolves the Japanese Navy from terence with British shipping on Foochow we had to extend our se- i I trust this proposal will meet the serious responsibility of illegal- the China coast at the hands of tivities further North and found it with your approval as the company ly and forcibly seizing and detain the Japanese Navy, will continue. necessary to charter the s.a.is I consider now in a position to ing a British coastal steamer, the While patience and restraint may "Sagres", in order to maintain our take this step in order to safeguar papers of which, I understand. be admirable qualities there is a regular sallings. I regret having the interests of our employees, were absolutely in order. to report a serious incident which many of whom have served the has arisen this month in the un- Company for long perioda.
that the limit has now been
It would appear desirable that limit and I submit in all seriousésé the Japanese Government bere reached.
"
3 Radio Sets
2 Canvas Canoes
1 Surf Board
1 Grandfather Clock
1 Teakwood Bed Room Suite.
1 Teakwood Dining Room Suité
On VIEW from THURSDAY, 27th APRIL, 1939.
TERMS:--Cash on Delivery.
LAMMERT - BROS.. AUCTIONEERA.
KEEN SANG BRICKWORKS
26, LEE YUEN STREET, EAST, (1ør FLOOR)
TELEPHONE 25240 HONG KONG
KSB
11
LOCAL BUILDERS & CONTRAC-".
TORS NEED NOT BE AFRAID.
OF DISCONTINUANCE OF
SUPPLY OF IMPORTED RED
BRICKS AS KEEN SANG
BRICKWORKS PLEDGE THEIR
GUARANTEE TO SUPPLY ANY
QUANTITY, ANY TIME, WITHOUT RAISING UNREASON-
ÁBLE PRICES.
Get the world's good news daily through THE CHRISTIAN SCIENCE MONITOR
An International Dolly Newspaper
Published by
THE OBRISTIAN SCIENCE PUBLEHING SOCIETY One, Norway Street, Boston, Massachusetts Regular reading of THE CHITIAN SCIENCE MONITOR is considered by many a liberal education. Its clean. unbiased news and well-rounded editorial, fentures, inclu- ding the Weekly Magazine Section, make the MONITOR the ideal newspaper for the home. The prices are: (U. 8. Money) JAN
year $12.00 6 months $8.00 3 months $3.00 1 month $1.0 Wednesday issue, including Magazine Beation: 1 year 12.60, 6iases 200. and the paper is obtainable at the
Caparegudy dng location:.
SCIENCE READING ROOM First Church of Christ, Scientist, 81, Macdonnell Rond,
Hong Kong.
ง
PUBLIC AUCTION.
THE Undersigned bave received
instructions
to "sell by
PUBLIC AUCTION
THURSDAY, the 27th APRIL, 1939 '
Commencing at 2.30 p.m.
At their Sales Room, No. 35 Hankow Road, Kowloon.
A QUANTITY OF VALUABLE HOUSEHOLD FURNITURË,
Comprising:--
Teakwood Drawing Room, Bed Room, Dining Room and Office Furniture, Carpets, Rugs, Ward- robe and Cabin Trunks, Cutlery, Porcelain, Glass, Brass and E. P. Ware, Ornaments, Pictures, Gramo- phones and Recorda, Electric Table Lamps and Fans, Cooking Utensils, etc., etc...
also
A FEW RIECES OF BLACKWOOD
FURNITURE
and
2 Radio Sets
1 Electric Refrigerator
On VIEW from ' WEDNESDAY,
the 28th APRIL, 1939.
LAMMERT BROS.
AUCTIONEERS.
PUBLIC AUCTION.
HE Undersigned have received
instructions
TO SELL BY
PUBLIC AUCTION
ON'
FRIDAY, the 28th APRIL, 1939
Commencing at 10:30 am.
At their Sales Room, No. 2.
Connaught Road, Central · (Room No. 205, 2nd Floor)
COLLECTION OF NOVELS.
AND BOOKS
Including:-
....
26 Volumes of Stevenson's Works, 23 Volumes of Kipling's Works, The Decameron of Boccació, 6 Valutaes of International Encyclopaedia of Surgery and many other books by well known authors.
and
One X-Ray Machine and Accessories.
On" VIEW from THURSDAY, the 27th APRIL, 1939.
TERMS: Cash on Delivery
LAMMERT BROS.
AUCTIONEERS.
People Who Matter
LE WHO MATTER, to the advertiser are
PEOPLE
the people who
can afford to buy
his goods. Most
of these people
buy and read the
Hongkong Daily Press.