it will become a question of whe- ther the contribution can be justified any longer.
Tribute to. Staff.
I cannot conclude without a word of commendation to the staff. Inthe Hon. Mr. A.Q.Stephen, our Chist Manager, we have a man whose knowledge of busi- ness and finance is unparalleled and whose services to the Empire and its Eastern connections is well-known to all of you. During the past two years, in a period of world depression, the Bank has progressed undar bis abla direction and its position to-day is stronger than ever. Amid the troubles and disasters throughout the world, the disorganisation and uncertainties of exchanges, our men everywhere have risen to the occasion and bave created a faith in the Bank of the utmost value to trade and British prestige in the East are indeed for tunate in possessing a staff second to con in loyalty and devotion to the interests of their employers, and I am confident that at senior men retire their places will be taken by men of equal calibro and the Bank will continue to be a tower of strength to Eastern trade kad enterprise in the future it has been in the past. I am sure you will agree heartily with the de- cision of your Directors to award the staff a bonus of 10 percent. on their salaries. (Applause).
MR. DUNBAR'S SPEECH.
Mr. L Dunbar said-It is a great pleasure to me to second the adoption of the report and accounts. 1
think it is very
1
H.K.C.C. PAVILION.
The Opening Ceremony.
The opening ceremony of the Hongkong Cricket Club's now pavilion (a brief description of which is given an anothar page)| took place in the presence of a large number of members at tiffin time to-day.
Mr. H. R. Hancock (President of the Club) said their old pavi- lion was built about twenty year ago. Some of those present would remember when it was first put upí and there were many of them who had spang rets happy tina) in it. At the time it was built it was thought that is would be top large and that they would never grow up to it. Although it had served the purpose well, it was not modern or large enough for their present requiremente Not many years ago the Club was in a very bad financial position and its membership Was falling Thanks however to the late hon. secretary, Mr. Hodgson, who devoted a tremendous amount of time and energy in going into details, they had turned the cor- ner and to-day they were
in a sound position. The work hai had done for them was carried on by Mr. Greenbill, whom they hoped to sea back shouly. The question of a new pavilion WAS mooted some two years ago by the late Fresident, Mr. Frank Maitland, who would be for ever remembered by the cricketers of this Colony. At the time, owing to general trade depression, there were not many members of the Club who could see their way to fione cially forward the scheme, and they had to thank the Hong- kong and Shanghai Bank, Messrs. Jardine, Matheson, and the Unian
gratifying in these iroublous and uncertain times that the Back is able to present such a favourable report, the profits for the year exceeding all previous records. Of recent years mans new competitors have appeared in
Insurance Society of the Eastern Banking field, but the Canton, andone or two individuss Hongkong Bank appears to thrive who had come furward and so од competition, its reports allowed the work to start. The for many years past showing speaker, hoped that the youngs & steadily increasing expansion men of the Colony who were not! of figures in every direction. I members and who did not play agree with the Chairman in cricket would come forward and describing it. 85 a tower of
join when they saw their new strength to trade and enterprise pavilion, and would take up the and to British prestige in the game. Some of them were ge East. I am glad the Chairman ting too old and they touched on the question of mili- look to the young men tary lande. We see the Colony keep the Club going. They had expanding in every direction,some young enthusiasts-Messrs. building going ou everywhere Owen Hughes. Webster, Mitchell and the rents in the central and Davies-and they hoped that | district rising to a height that is they would keep the old dag fly- A serious handicap, to roerchantsing for years to come. Mr. And Fet tbe military con- Hancock raentioned that the tinue to occupy the location Club's presen: membership was they have held for the well over 500, which included 245 last 60 years. a location which.playing members, and they were although, eminently unsuitable growing rapidly. He called on for the troops, would be of the uthem to drink to the success and most value to the business colant life of the Hongkong Cricket munity. Let us hope the War Club..
mus: to
Office will wake up one day and The toast baring been honour. "discover that Hongkong has ed, Mr. G. M. Young, in a short charged somewhat since the mili-peech, proposed the health of the tary took up their presentquarters. President, wishing him a pleasant when the island was first occupied.holiday. Mr. Hancock was voci I am sure we all join the Chairman lerously cheered, those present in his tribute to the staff. The singing For He's a Jolly Good Bank is indeed fortunate in Fellow, Mr. Hancock suitably. possessing staff of men who replied.
began their business careers in
the Bank and mean to end them
in the same service. The umber
A
of them who have sorved for over excellent report and dividend
presented tere twenty years in the East is
to-day. -(Ap- source of strength ands ability, plause). We all know that last I think you will all heartily sup-year has been an extremely diffi. port the Directors in voting the cult one in various ways for all staff & berns of 10 per cent. on those engaged in business, but their salaries. I now beg to se- the management has steered the cond the adoption of the report Bank successfully through these difficulties, m: the same standing by their constituents. I should like especially to express our
and accounts.
OTHER BUSINESS. The reports and accounts were adopted.
thanks to Mr. Stephen. He is a man eminently fitted to follow his Mr. G. M. Young proposed illustrious predecessor. It is that the appointment of Mr. Aquite true that WE don't M. Bowes-Smith as Director be always get ODT own War confirmed and that Mr. W. Lwith bin, but none-the-less hej Pattenden, Mr. G. M. Dodwell is always ready with kindly and Mr. D. G. M. Bernard be re-advice in difficulties and always] elected Directors.
ready to lend support to say rea- This was seconded by Mr. M. sonable enterprise. Regarding| S. Northcote and agreed to. the staff, I can scarcely add sny-
On the motion of Mr. W. E. L. thing to what Mr. Lang and Mr. Shepton, seconded by Mr. A. B. Dunbar bave said, except that it: Stewart Mr. A. R. Lowe and Mr. is on the loyal devotion of the E. J. Chapman were re-elected staff to duty that the success auditors for the year.
of the Bank very largely resta. We, of the British commanity, are very proud of the Bank and
In thanking those present for their attendance, the Chairman
nounced that dividend war of the high standing it has among rants will be ready on Monday. the leading financial institutions
Mr. C. W. Beswick, rising as of the world. I think you will! those present were about to dis-join with me in thanking the perse, said:-Before you all go, saf
their services.-
for
I abould like to ask you to join (Applause). with me in expressing to the The Chairman :-Thank you, Directors, Management and Mr. Beswick. Staff our appreciation of the
The meeting then closed
TRE HONGKONG TELEGRAPH: SATURDAY, FEBRUARY 24 1923.
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