EFFECTS OF LOW EXCHANGE.
CONTRAST WITH 11 YEARS AGO.
CANTON INSURANCE OFFICE ANNUAL MEETING.
SOUND POSITION.
DANGEROUS LORRY DRIVING.
A STEADY 28 MILES AN HOUR.
OTHER TAFFIC CASES.
THE
HONGKONG TELEGRAPH, TUESDAY, MAY 19, 1931.
BRITISH LEGION BOOK FUND.
TOTAL OF £123,000 FOR DISTRIBUTION.
· UNLUCKY LOTTERY
TICKETS..
COOLIE SAYS WERE BOUGHT
FOR FAMILY,
Defendant amited broadly when his Worship pointed out that the tickets were unlucky ones in the sense that they had brought about the present proceedings. He was naked if he would like to have the tickets returned to him.
London, May, 14. Replying to a remanded charge It is announced that as a re- of possession of four po piu lottery Mult of the Prince of Wales' British tickets, an elderly coolie told Mr. Legion Book Fund, a sum of £123, Schofield this morning that the 000 has been received by the heir tickets were bought on his family's In bringing a summons for dan- to the Throne for distribution. Kerous driving against u lorry The Prince of Wales has decid-account, there being a ticket aplece driver. Tralle Sergeant Brown, sted, after consultation with officers for each individual member of his the Central Police Court the of the Legion, that in view of the and two grown-up daughters in household. He produced his wife. morning, alt he followed the generous subscriptions from the vehicle for 409 yards on his cycle. Dominions and bearing in mind substantiation of his plea: The effects of low exchange through several bad bends along the needs of orgaizations. cater- on the accounts of the Canton Pokfulum Road, The speed of ing to ex-servicemen, to allocate Insurance Office, Ltd., figured the larry romained unrelaxed, at £20,000 to the British Empire Ser prominently in the Hon. Mr. J. J. 28 miles an hour, this comparing vice League, £2,500 to the ex- Paterson's speech when presid-with the 20-mile limit allowed on Servicemen's Welfaro Society, £2,000 each to a number to other ing of the Company to-day. It
orgoniantions and £1,000 to the was stated that, as ♫ con-
women's section of the British sequence, the total dollars shown
Legion. in the balance sheet reached over thirteen million dollars, an in- crease of nearly six millions compared with the previous year. This was in striking con- trast with the position eleven years ago, when, owing to high exchange, the sterling showing reached the unprecedented figure of over £1,700,000.
1
Reference was made by the Chairman to the very sutisinctory financial position of the company it being stated that the 1930 account should be more than com- A parable with that of 18120. good patch had also been struck in the lust two years in marine insurance.
that rond.
A number of coalies silting on the load at the back of the lorry apeared to be having some dif- ficulty in retaining their seats.
The allocations will leave # while there were many balance of £88,500 which will be pedestrians on the rondway.
invested in the names of the trus Defendant was fined $30, after tees for the purpose of
a a previous conviction was proved fund to be known as reformerin a Several car drivers were fard of Wales British Legion Pension for baring an excess number of
Fund." Providing for passengers, while the drivers of
a number of
not execeding pentsions
ten commercial lorries also eameshilinga
[L week for ex-Ser- under attention during the week, vice men and women 50 years of severn being
for Aummoned
age and over, permanently resident having excessive loads and fined.
In the British Isles, the Fund will In Wongneichong
Road, public-car driver was discovered
be inaugurated on January 1, 1932, allowing a sailor, named Ander son, to drive his ear, the intter. It is alleged, not passessing licence. Inspector Nicol mien. tioned that two other summonses were pending in connexion with the mime ease, one against the driver and the ether against the sailor, and the ease wits adjourn
d.
WHEAT PROBLEM
DISCUSSED.
BIG CONFERENCE OPENED IN LONDON.
London, May 18. Many problems connected with the world's wheat supplies are be
Wheat Producers Conferener which opened at Canada House, London, to-day.
Chairman's Speech. Addressing the shareholders, the Chairman anid :--Gentlemen, The Aue of $is was inflicted on a Report and Accounts having been lorry driver, who, H. was said. in your hands for some days, 1 pre-suddenly shot out of a side street pose, with your p!*73|44{ui1, to into Shaukiwan Road withouting discussed by the International follow the usual procedere of tak- sounding his hora, narrowly miss ing them as read. I would pre-ing a collision with Inspector face the few remarks that 1 an Kival on his vehicle. about to make by stating that 1 have found it difficult to formulate any true comparison of present-day figures with those of the pital. With Company such as ours. holding considerable sums both in gold and silver, the position neves- sarily must vary from time to fine but never to such an extent as
Д
opinion that it should be more than comparable with that for 1829.
Dollar Inrrefime,
Defendant shook his head vigor-| ously. He was let off with a cat- tion, the tickets being confiscated.
KOWLOON PUPIL'S
SUCCESS.
WINS PEACE MEMORIAL 'SCHOLARSHIP.
We are informed that A.IS. Skinn, Form-VI, Ceutral British School, who sat for the Peace Memorial Scholarship last Decem- her, has been awarded Scholarship.
this
It is of the value of £450 a year. for three years and tenable at any University. 3343 restraint being placed on the prizeman as to the country in which he may desire to prosecute his studles.
FORGET SPEED.
(Continued from Pago 4.)
Forty delegates from eleven countries were present under the presidency of the Canadian High to determine the least tonnage Commissioner in London, Mr. that will adequately mount Ferguson. In Introductory ideal gun armament and armour. speech, he said the main problem and give the armament an ideal was to assure an adequate reward un platform in a seaway, for the labour of wheat producers speed of the ship being accepted without making bread dear. The the figure that the tonnage so deliberations should therefore be determined makes possible-n "at compared with that for this pre-directed to devising an improve speed of about 171⁄2knots. dayvious year, in Hungkong dollars it
An analysis for the balance sheet slows that while the total of to-day when we see the sterling our assets as expres in sterling value of the Hongkong dollar has fallen by some £15,000, brought intu our Accounts 1/1, the opening rate of the on the 31st December last.
As the result of "low" exchange The total dollars as shown in our balance sheet, has reached the sun of $18,328.995.93. an increase of close on $6,000,000
compared with the previous years eleven years ago the reverse position arose owing to "high" exchange and the sterling showing reached the precedented five! 046.
of
10 ex-
shows an increase of over $5,500,- [000; these fluctuations, as already stated in the earlier part of my sperch are due entirely change. The Investment and Ex- change Fluctuation vAccounts shows the very marked
ineren
of over $1,000,000, this resulting from the appreciation of both dur gold and silver investments as com- pared with values ruling at the £1.709.ut of 1929. Reinsurance Fund is G. D. Before leaving this up by some $1,340,000 and Under- question of exchange, it will pro writing Suspense Account by just bably interest shareholders to knoy over $500,000. that of the sterling figure ef £1,002,360.19.3 as shown in the balance sheet now before you, uver four-fiths is netually in gold, mainly in the form of gilt-edged securities.
consumer
ment in the methods of bringing the producer and the together on more equitable terms.
Many delegates have brought proposals. Australia, for in-
SURGERY
stance, suggests the establishment WITHOUT
of an International Wheat Market- ing Organization-British |_ Wire-
אאיי?
SHOPLIFTER SENT
TO PRISON.
STOLE ELECTRIC FAN
PROM SHOWROOM.
FEARS.
By F. A. MACKENZIE,
the
RADIO BROADCAST
KO SHING THEATRE RELAY.
of 865 metros:
To-day's radio programme to be broadcast by Z. B. W. on a wavelength
applied by Messrs. Anderson Music
6.00-8.00 p.m.
European Pro- gramme of Columbia Records kindly
Co.
0.00-0.21 3.m. Children's Pro- gramme.
Nursery Rhymes-Medley.
The New Contury Quartet. Story-The Little Men Who Had s
D1327-326,
Little Gan.
Helena Millals. 5099. Story-The Little Old Woman and the
Queen that Come to Tea.
H. Millat 6.21-6.48 p.m. Orchestral Mon Lac (Witkowski).
Robert Casadesus (Piano) and Orchestra Symphonique of Paris. 9626.
The Two Impa (Álford). Dancer of Seville (C. Grunow),
Sir Dan Godfrey conducting the Bournemouth Municipal Orch. 9405, Noche de Arahia (Arabian Night)
(Arbon).
Madrid Symphony Orchestra, 0683.
7.90 p.m. (Stock Quotations). 0.48.7.33 p.m. A Concert. Song-Trees (Kilmer and Rasbach). Dame Clara Butt (Contralto), X337. Celeste Octet-An Irish Love Song
(Squire).
Celeste Oetel-An Old Church Legon/i
(Trinnen).
J. I. Squire Celeste Octet. DB422. Song-The Midnight Review
(Newmarch-Glinka).
Robert Easton (Bass). 9412. Violin Solo-The Zephyr (lubay). Violin Solo-Valae-Bluette
(Drigo-Auer).
Efrem Zimballst, Song-A Fairy Went A-Marketing
(Fyleman-Goodhart).
Song-Down Hero (O'Reilly and
Drahc).
6314.
Dame Clara Butt (Contralto). PB5. 'Cello Solo-Mazurka (Poppor).
Anton Snia. 9158. Coleste Octet-Evening Lullaby
(Squire).
Celeste Octet-Evensong at
Twilight (Squire).
J. H. Squire Celeste Octet. 4983. 7.33-8.00 p.m. Pianoforte Recital-Moments Musicaux
(Schubert) by Ethel Legineko.
4887-1890. 8.00 p.m. Local Time and Weather Report.
8.86-11.30 p.m. Ka Shing Theatre Relay.
9.60 p.m. (Rugby Mid-day Press Newa).
11.30 p.m. Close Down.
UMPIRE'S AWARD--
ATTACKED.
Continned from Page t
to dreide a point which was never in the minds of the parties at all. Bath parties proceeded on the existence of the amended contract
IN pre-war days I was operated as the basis but, for some reason,
appendicitis,
I had another "major abdominal" operation. The contrast between the first operation and the second amazes me, and my experience may help to hearten some folk who have to face the surgeon.
Noticing three Chinese leaving the premises in what seemed to be a suspicious manner, one of the en- ployees of the Hongkong Electric The pre-war operation was per- Company's showroom in Des Voeux formed in the most modern way Rond drew the attention of the then known, and the surgeon was Manager:- MY.-W. EZDrelmet, "tone of the most skilled of his the men and intimated that he day. His work could not thought they had taken somethingr been bettered. But when I re- St-from the rooms.
covered consciousness after the
The surplus to be dealt with . $1,398,056.95, out of which has been paid an interim dividend of $18 per share. We now reco mend the payment of a final divi- dend at the increased ligure of $32 and of an exchange bemus of $10, making $60 per share in all, which will absorb $600,000; we further with Pecommend the addition of $20,000 to Sterling Reserve, of $10,000 to Reinsurance Find and the fran fer of the balance, ananting to $33,342.66, to Underwriting satisfactory account
pense Account to close 1929 and Previous years. The balance $2541,244.06, at credit of
1930 Account, allows of the payment of the usual interim dividend of $18 for that year.
Dividend and Bonus,
Viewing the positi from a strictly silver standpoint, it considerable pleasure that General Agents. and Consulting Committee are able to present to
such a
-you
Youg
as that for the year 1925, the balance of which, viz. $1,398. 056.95, compares most favourably with any of its predecessors. Not only does such balance allow of our recommending an increase in the dividend but also of an exchange bonus of $10 per share and sub- stantial appropriations ity fixed Reserves, both gold and silver.
The premium for the year now under review is nearly $750,000 in xcess of that for the year 102s; the figure of loss stands at 63.5156 the expense ratio ai 24.07%2 compared with 20.8077
the
Shareholders Benefit.
Was
was no such contract. In coming to his decision. Mr. Shields must have been guided by something en- tirely outside the four corners of the evidence before him, and- must have proceeded merely อก some view of his own, which the law did not permit him to do.
Errors of Law, “Denling" With errors of inw, Mr. of
Potter said that on the face have
re
the award Mr. Shields found the only contract was of May 4, 1929, and immediately went on to note that Hang Shun wrote asking for high volatile
coal,
which to Husnin agreed, with certain himself, disclosed another contract. servations. Thus, the umpire had, There, was, he said, a manifest mistake in law and the position was inexplicable.
Mr. Orchard accordingly follow-anesthetic. I experienced twenty- ed the men and seized one of them four hours of acute misery, and who was wearing a long coat with when at last morphin was inject- something bulging under his gar-ed-it
established 4.11 ment. The man was being taken principle then not to give seda- back to the shop, when, on Mr. Or- tives if possible-it left a
bad chard twisting his wrist, an elec- "kick" beltind in its train. Irie fan fell from underneath the
The Cheerful Dector.
$100,000 to Reinsurance Fund and of $332,342,66 to Underwriting Suspense Account, be adopted and passed".
In making these recommenda-coat. tions, your General Agents and Con- The fan, valued at $60, wns pro- The second operation was per sulting Committee have felt that duced in Mr. Williams' court this formed in the Charing Cross it is only reasonable that shareholmorning when the thief was charg-Hospital, but I understand that ders should participate in the very ed with larceny and, on his ad- the methods used there are now considerable ageretion of interest mission of the theft, was sentenced generally employed. that has resulted from the Com- to three months' hard labour. pony's gold securities, owing to the balance uf. Underwriting at present low exchange; they do not 12.424 as against 7.24%. You consider advisable, however, to will notice that the Ggure of inter- increase the definitive dividend be ast has risen from $611.726.89 to you a figure that could be main $766.7-16.70.
tained with comfort out of in- terest alone, even should exchange return to a level of 2/-, hence the suggestion of an "Exchange" bonus. I have little to say with regard They trust that areholders will to "Marine" Insurance generally; take full cognizance of the note. its fortunes are so closely inter- Woven with those of industry and appearing in the report wherein it is stated that the continuance of that they this "Donus", in the whole or in Commerce as a whole necessarily must stand or fall to-
part, will depend entirely on the gether, and who can say which it is to be in these days of slump ardare fluctuations of exchange:
Marine Prospects.
un-
The report was seconded, by Mr. Lo Choung-shiu, and animously adopted.
Business Matters
When I arrived in the anesthe- tie room A cheerful doctor glanced at me. How was I feel- ing?"Fine? That was good, Would I like to be conscious during the operation? I hastily replied in the negative.
"Hold your arm still a minute," he said. "I want to give you this injection."
And I remember no more unth I awoke back, in bed. One is unconscious made temporarily now before receiving the full anesthetic.
The case is proceeding.
OPIUM POSSESSION CASE.
INFORMANT SOUGHT FOR IN COURT
Charged with the possession of 150 Laels
of contraband raw opium, a Chinese, arrested by Revenue Officer Ward in a raid yesterday afternoon at No. 26, Lee Yuen Street East, declared that he was the principal tenant of the cubicle in which the stuff .was found.
Mr. J. H. Seth seconded, the re- Mr. Ho Kom-toug proposed, and
He gave the name of Wong Fat- suen as that of the individual who plection of Sir Robert Ho Tung, Mesars. A. Il: Compton, L. Dun
When I came to I had further he believed would be able to Humphreys, T. E. agreeable discoveries. First, there explain the presence for the man
was no sickness. What this
named.
"He
was here
few minutes-
It is proposed to raise the Au- [bar, Henry
ago," he told the Magistrate.
abortive, a remadd of 18 hours in A further search having proved
police custody, was ordered to enable further enquiries to be made.
HOSPITALS SWEEP.
We have ditors' fees from $1,000 to $1,250 Pearce and A. H. While to the Con- means to the patient I cannot put 'world-wide dopression! struck a good patch over the last for each firm and you will, I hopo, sulting Committee. this "being" two years and, though we are de confirm this when the proposal for carried.
into words. One of the in- ing everything possible to ensure the re-election of auditors comes On the proposition of Mr. K.jections I had received ahead ap- a continuance of such satisfactory before the meeting.
Stuart Smith, seconded by Mr. Hparently settled that Next, a resulta, it must not be gathered therefrom that "Marine" Insurance further that calls for special re- and Matthews, and Mesars. Percy evidently been found.
I do not think there is anything Loung, Mesars, Lowe, Bingham new technique in sedativos has Morphia is in any better shape than the ference but I shall be pleased to Smith, Seth and Fleming, were re was given more readily and left several factors to which it looks answer, to the best of my ability, appointed auditors at an increased no "kick" behind it. for its very existence of these. In any questions arising out of the remuneration,
to from $1,000 At the end of 24 hours I could particular, I would mention ship Accounts which shareholders may $1.260 each.
scarcely bellove I hnd plag.
passed wish to put after the accounts The Hon. Mr. J. J. Paterson through what once was a hell. Turning to the Working Ac- themselves have been duly second-presided, and was supported by I do not want to pretend that count for the year 1980, aftored. I now propose, the following Messrs. A. II. Compton, L. Dunbar, big, operations are holiday ex twelve months, we find a balance reaolution: That the Report and T. E. Penrco and A. H. White periences. They are still a serious carried forward of $2,541,244.06 Accounts, as presented, including (Directors), Mr. F. C. Hall fordeal and a shock to the system. which sum is over six and a quar- tho
It is officially announced that
• payment of a Final Dividend In (Secretary), and the
P. S. once accompanied them has dis- year 1929, at the same stage. It together with an Exchange Bonus Cassidy, JH. Seth, K. Stuart appeared.
Irish Hospitals sweep On That was
the Is, early yet to say much with roof $10 per share and an Interim Smith, N. V. A. Croucher, D. V.perience, and it was
my x-Dorby will be issued, although the gard to the ultimate outturn of Dividend in respect of the year Stoavenson, He Komg-tong, Ho perience of many others with subscriptions is May 28.
the ox official closing date for receiving. this Account but, fudging by the 1980 of $18 por share; an addition Loung, M. H. Lo, Lo Cheung-shiu, whom I talked in the ward of prize money will definitely excoed Tha way thinga are going, wo ard of of $20,000 to Sterling Reserve, of and T. N. Ghau.
Charing Cross Hospital.
£1,000,000.
NO BOOKS OF TICKETS TO BE ISSUED.
Dublin, May 14.
ter lakhs better than that for the respect of the year 1920 of $32, shareholders-Mellowing But much of the acute misory that no more books of tickets for the
WHITE TENNIS
SOCKS.
Made from superior quality white cotton in new ribbed designs, heavy enough to withstand the hard usage, smart in appearance and GUARANTEED UNSHRINKABLE,
These are not only an ideal sock for tennis wear but they are also a comfortable sock for Day. Wear during the warmer months. All sizes. Price $1.50 per pair. Less 10% Discount for Cash.
"VIYELLA" Socks and Golf Hose in White
and Khaki.
Wm. Powell, Ltd.
Specialists in Gentlemen's Wear,
10, Ice House Street.
ARTS & CRAFTS, LTD.
NET WEIGHT OF CONTENTS 177, 8ZS
FOR
MODERNS
FURNISHING
AT A
REASONABLE
COST.
DECORATIONS
from
cows
STALDEN
ALPS MILE
*TRADE 1503K
PURE SWISS
SWITZERLA
"BEAR"
EMMENTHA
BRAND
ASK FOR "BEAR BRAND" MILK
The world u best milk
collected
grazing on
the rich
mountain pastures of the Emmenthal, Swit
zorland.
NATURE'S FINEST FOOD.
A. B. Moulder & Co.,
*Limited..
China Building, Hongkong.
ERNESE
STERILITE
musth
MILK
HEALTHY ROSY-CHEEKED KIDDIES
love plenty of butter on their bread, and
wise parents always give it to them.
K
ANCHOR" BUTTER
Pure, rich and tasty, is one of the finest
of all foods for children.
INSIST ON NEW ZEALAND'S FİNEST
ANCHOR BUTTER
The World's Best
Retailed by
THE SOUTH CHINA COLD STORAGE CO., LTD.
29-81, Des Voeux Road Central,
THE CAFETERIA, PENINSULA HOTEL, KOWLOON.