14
THE
HONGKONG
PENINSULA HOTEL:
HONGKONG HOTEL: REPULSE BAY HOTÉLI ¡PEAK HOTEL
AND
SHANGHAI
ASTOR HOUSE; PALACE HOTELI MAJESTIC HOTEL.
HOTELS
LIMITED.
In association with the Grand Hotel Des Wagons Lits, Peking.
Hotel SAVOY
The Newest and Finest Hostelry in THE Colony
Convenient ... Cosmopolitan
KOWLOON HOTEL
KOWLOON.
Under the Personal Supervision and Attention of
Phone Nos.
K. 608 & K. 609.
3:
Mr. & Mrs. H. J. WHITE.
Cables"KowLOTEL
Hongkong.
PALACE HOTEL.
Tel Kowloou No. 3.
Tel Address** Palace,"
A First Class R sidontal, and Tourist Hotel with all the Con- voni.nges of a Home Onder Entirely European Management. Coay Lounge and Billiard Saloon. Three minutes from Ferrey. Families specially astered for. Moderate teren.
EUROPE
Mru, J. H. Oxberry,
Proprietress.
HOTEL
"Renowned by Recommendation"
DANCING:
MUSIC:
GRILL:
After Dinner every Tuesday, Thursday and Saturday.
On the VERANDAH every Saturday from 12 no to 1.30 p.m. and every Tuesday, Thurs- day and Saturday from 7.30 to 8,30 p m.
Telephone. 5341 (8 lines) Cables "EUROPE" Singapore.
THE EUROPE HOTEL Ltd.
Arthur E. Odell Managing Director.
RUNNYMEDE HOTEL-PENANG
"MALAYA'S NICEST HOTEL",
With beautiful private lawns to the Se:
MODERN THROUGHOUT
Dinner-dance twice weekly
RUNNYMEDE HOTEL LTD. George Goldsack.
CABLES." RUNNYMEDE."
Manager.
To-day to Saturday. at 2.30, 5.30, 7,20, & 9.20
"UNDERWORLD"
with GEORGE BANCROFT, EVELYN BRENT, CLIVE BROOK and LARRY SEMON.
A story of men and women fighting for their lives and each other. A Paramount giant thriller! Don't miss it!
THE MAJESTIC
NATHAN ROAD
KOWLOON.
Printed and Published for the Proprietors by FREDERICK PERCY FRANKLIN, at 1 and 8. Wyndham Street, in the City of Victoria Hongkong.
THE HONGKONG TELEGRAPH. WEDNESDAY, MARCH 26, 1930.
FIRE INSURANCE NEW CONVENTION GERMAN SHIPPING
BUSINESS.
INCREASED DIVIDEND
AUTHORISED.
YEAR 1929 A LEAN ONE FOR LOCAL COMPANY.
CONTINUOUS LOSSES.
ON TARIFFS.;
WILL SERVE AS BASIS FOR
FUTURE PARLEYS.
SIGNED BY BRITAIN.
London, Mar. 25. Replying in the House of Com- mona to questions regarding the proceedings at Geneva in conne- xian with the. suggested tariff truce. Mr. William Graham, Presi- dent of the Board of Trade, said he had taken part in the discus-
ENTERPRISE.
EUROPA'S NEW RECORD APPLAUDED.
BIG TRUST BEING FORMED TO STRENGTHEN POSITION.
AND NO SUBSIDIES.
That the last year had been
Berlin, Mar. 25. a poor one for fire insurance
The record-breaking trip of companies, not by reason of any particularly serious conflagra-sions.
the new German liņer "Europa” tion but owing rather to a con-
across the Atlantic-in 4 days, state that a He was glad to tinuous run of losses throughout Convention was signed yesterday, jubilantly received all over the 17 hours, 6 minutes-has beep the twelve months, was dis- closed by Mr. B. D. F. Beith as well as a protocol regarding country. The country now has when he presided at the annual future negotiations for reducing the two fastest passenger liners meeting of the Hongkong Fire trade barriers. Both documents in the world. Insurance Co. Ltd., held in the
on behalf of Great board room of Messrs. Jardine were signed
was also Matheson and Co. Ltd this Britain. The former morning.
signed by ten other countries and Speaking of the year's work the latter by fourteen other coun- Mr. Beith said.
tries. The text of the documents would duly be laid before the
House.
The Report and Accounts having now been in your hands for some days, I propose, with your permis- Mr. Graham was asked whether sion, to follow the customary pro-his attention had been called to a cedure of taking them as read.
The result of our operations for ine year 1928, now under review, has gain been successtul, the Ae count having run off with a credit balance of $714,807.47. The pre- mium income of $1,645,185.83 was the highest yet recorded and this is n sisfactory feature in view o1 present day conditions of trade all over the world.
Exchange Influence. The rate of sterling exchange of 1/7, at which our Accounts are shown, has had a very considerable bearing in both these figures of Balance and Income, bat ever had it remained round about 2/- the Ac- cant in point would still have roved to be the third beat the Com pany has yet experienced. The ratio of Losses is distiantly higher at 43.03 per cent, as against 34.12 per cent. for 1927 while that for Expenses is slightly less at 39.35 per cent. as against 39.88 per cent.
statement by the Chairman of the Committee that if they had taken the first hesitating step, that was all they had done, and whether that justified any optimism.
Presiding at the' general meet- ing of the North German Lloyd, the owners of the magnificent ship, Herr Hernecken stated that the Company had not received one penny by way of subsidy in respect of the construction of the Bremen or the Europa.
Big Amalgamation.
The principal matter, discussed before the meeting of the North
German Lloyd (Nord-Deutsche- Lloyd) was the proposed amalga mation of the interests of the Com-
pany with those of the Hamburg- Amerika Line.
The President explained "the
Mr. Graham replied:"While it terms of the proposed agreement, which involve the amalgama- is true that the Convention now tion of interests for a period signed falls short of the original of fifty years, ench com- draft, it is nevertheless, in my pany retaining its independence opinion, a very valuable docu- and flying under its own flag. ment."
There will be an interchange of A member enquired whather members from each Board of precluded any Directors and the receipts will be' these documents
h the British equally divided. step being take Government to safeguard any en- terprise in this country.
Mr. Graham said: "I think the effect will be this, that they do give us a basis on which to pro- ceed to negotiations for discussion of the reduction of tariffs In Europe, and I believe this would be of very great importance to the trade of this country."-British Wireless.
TWENTY CHINESE
FINED.
The balance at credit of the Working Account for 1923 is 3511- 112.36 as against $675.329.19 for 1928, after twelve months workingy a reduction of $164,216.83. The year 1929 proved to be a lean one for Fire Insurance Companies and the final outturn of Our Ac- count cannot but be don- ON EMIGRANT SHIP WITHOUT siderably Tess than of Ms
PERMISSION.. three predecessors. Though it would be premature to hazard At the Marine Court this morn- any opinion as to the final result. ing. 20 Chinese appeared before we have reason to hope for a final the Hon. Commdr. G. F. Hole, showing that will allow of the main-R.N., on the charge of boarding tenance of Dividend and the trans- the vessel without the permission fer of a substantial amount to Rc-of the master or the officer
duty.
serves.
Increased Dividend.
The surplus to be dealt with at this Meeting is $714,807.47 and we recommend the payment of a divi- den at the increased figure of $17 per share, absorbing $376,000; the
appropriation of £25,050 4:07,- 692,31 to Gold Reserve and the ba lance of $31,115.16 £2,528:3:2 to Reinsurance Fund.
All our Reserves are in a healthy condition, the only one calling for comment being the Investment & Exchange Fluctuation Account. This shows a shrinkage of approximate
ment.
Eliminating Competitio..
is to place as many vessels as The purpose of the agreement possible on important routes with the view of eliminating the con- struction of new vessels and thus enabling each company to develop new routes.
It is expected that the working expenses on the more or less un- profitable routes will be diminish- ed and that past rivalry will be done away with,
A joint meeting of the stock- holders of both companies is be- ing held on April 15, when the final vote on the issue will be taken.
Huge Capital Interest.
It is anticipated that April 15 will see the launching of the new German shipping trust, including the Woermann German East Afri on ca Lines,
the hamburg-South Amerika companies, and possibly Originally, 22 were found wan-also, the Bremen Shipping Coni- dering about on board, but two pany and Hansar were not present in Court when the case was taken and their bail of $25 each was estreated. The others all pleaded guilty.
You will, I trust, approve of the in usual bonus of 15 per cent. on their of salaries being granted to the Staff. the
the
The total share capital of all. the companies will be approxi-
mately G.Mk.409,000,000,
The "rationalisation" will, it is understood, extend to the Far East, thereby enabling the with- drawal of a number of ships with-
Interest- out effecting German Reuler.
Hamburg-American · Ships.
Mr. C. H. Thomson, of the Har- bour office, informed his Worship that the Yuensang was sailing un der emigration laws and carried hundreds of emigrants from Hong- kong. If the steamer had left the Colony with the, defendants, who had not been passed by medical officers and anyone of whom might
The Hamburg-Amerika Line, have been suffering from a con- Germany's oldset shipping under- tagious disease, anything might taking, now owns a fleet aggregat- ly £13,000 due to the fall in the have happened before the Yuensang ing more than 1,100,000 gross market price of our Gold Invest-reached the next port.
tons, which la more than 25 per His Worship remarked that cent. of the total German merchant
view of the seriousness tonnage (4,000,000 tons).
offence, he thought Regular services are maintain bail should havé been ed to every part of the world, more than $25. The offence The East of North America is the defendants bad committed served, among others, by four warranted a fine of $50 but, as it 20,000/22,000 ton twin screw was, he could only imposa a maxi- | steamers “Albert Ballin," "Deuta- mum fine of $25.
chland," "Hamburg" and "New Continuing, his Worship said York," which are now being equip As stated earlier in my speech two of the defendants did not trou-ped with new. turbines enabling the past year has been a poor one ble even to turn up in Court and them to make the passage between for Fire Insurance Companies, not in justice to those present, he the Channel Ports and New York by reason of any particularly severe could not fine them the same in seven days. The two biggest conflagration but owing rather to amount: He asked. Sub-Inspector German motor-ships, the a continuous run of losses through Shepherd, who
was the
senior Louis" and the "Milwaukee," are out the twelve months. We must, officer in Court, to make a note of likewise engaged on that route, hope that the current year will show that, and inflicted fine of $20 and several other fine modern a marked improvement in respect each, the alternative being 20 motor-ships are employed in the of fire wastage and, to date, I think days' hard labour.
I do not think there is anything further in the Accounts which calls for special, mention by me.
Continuous Losses.
things are somewhat better.
After the resolution, which I am now about to propose, has been duly Seth, Sir Robert Ho Tung and seconded, I shall be pleased to an Messrs. C. Bernard Brown, A. H. swer to the best of my ability, any Compton, L. Dunbar, T. E. Pearce questions which Shareholders may and A. H. White were re-elected wish to put. I now propose the members of the consulting com following resolution:That the mittee. On the proposal of Mr. M. Report and Accounts as presented, H. Lo, seconded by Mr. C. Savard including the payment of a dividend Remedios, Messra, Lowe, Bingham of $47 per share, an addition of and Matthews and Messrs. Percy $25,000-$307,692.31 to Sterling Smith, Seth and Fleming were re- Reserve, the transfer of 42,528:2:2 elected auditors at a yearly remun-
$31,116.16 to the credit of Rein- eration of $1,000 each. surance. Fund, and the payment to
Mr. J. H. Taggart seconded and the report and accounts were adopt-i
"St.
service to the West Coast of North America.
Five different services arc operated to South America and five others to Central America and the West Indies, whilst the Far East, the Netherlands. Indies and Australia are served by two lines each.
PROHIBITION ISSUE.
the Staff of 16 per cent upon their Baith (chairman), Mr. C. Bernard
Those present were Mr. B. D. F. CANADA ENDEAVOURING TO
ASSIST AMERICA. salaries, be adopted and passed.”
Brown, Mr. L. Dunbar, Sir Robert
Ottawa, Mar. 25. Ho Tung, Mr. T. E. Pearce Mr. A.
The Canadian House of Commons H. White (members of the consult ing committee), Mr. F. C. Hall by 173 votes to 11, passed the (Secretary) and Messrs. J. H. Tag. third reading of the Bill forbid- gart, J. P. Sherry, M. H. Lo, C. ding clearances of liquor cargoes Savard Remedios, J. H. Seth and E. destined for the United States.
The Bill now goes to the Senate. M. Raymond (shareholders).'
Reuters American Service::
ed.
Other Business.
On the proposal of Mr. J. P. Sherry, seconded by Mr. J. H.
A HE-MAN AND A SHE-WOMAN FILM
DYN
by Jeanie MacPherson
A
It take a De Milis to put sučk startling drama, daring idaza, `gorgeous setiings, krunth-fak- ing spectacle into was film.
with-CONRAD NAGEL
KAY JOHNSON CHARLES BICKFORD JULIA FAYE
MITE
Mille's
Cecil B.
production
SPECIAL TIMES
2.30 5.00 7.15.... 9.30
Metro-Goldwyn-Mayer ALL TALKING PICTURE
IN
his first talking Picture, the great De Mille has put all of his directorial wizardry.
Daring, lavish, startling, spectacular this picture has everything.
AT THE
QUEEN'S
TO-DAY ONLY At 2.30, 5.00, 7.15 & 9.20,
Owing to the special length of this feature film patrons are requested t... assume their seats-well on time.
Conrad Nageland Myrna Loy
The GIRL from
CHICAGO
· · with WILLIAM"RUSSEL -Carroll Nye Adapted from ARTHUR SOMERS ROCHES story Business Best
Directed by RAY ENRIGHT".
AT THE
WORLD
WEDNESDAY & THURSDAY At 5.15 & 9.20 ONLY
HONEYMOON
with
POLLY MORAN, HARRY GRIBBON
THE
and FLASH
STAR
FINAL SHOWINGS TO-DAY
At 6.30 & 920