KEEN INSURANCE COMPETITION.
(Continued from Page 7). Managers and Attorneys since 1920 and we have every confidence in them.
THE
HONGKONG
TELEGRAPH, FRIDAY, MAY 29, 1931.
Mr.
Pau! Lauder lividend must necessarily depend returning here in November. He be sharply reflected in Insurance (Directors), has had a strenuous timo and Inccounts as in other lines of buain (General Manager) and the folow on the position of exchange. It is, trost his holiday will prove eas and inevitably leads to sonse-ing shareholders:-Messra. J. W. of course, inevitable that there will beneficiat. During his absence less competition, but we can have Alabaster. A. E. S. Alves, Wm. be variations in the amount of this S. Archbutt, John particular distribution. I now dur Sub-Manager, Mr. H. C. Gray, full confidence that the strength of Allen, G. will be in acting charge of the the Union and Its afiliated Com- Bentley, J. Douglas, Butcher, T. N. move that the Directora report Society.
panies, with the ability and zeal Chau. B. M. G. da Cunha, Chau and statement of accounts as pre- There is one other matter to of the whole staff, will weather any Yue Teng, R. A. Dastur, H. B. L.sented be adopted, and when this
until better times
John Fleming, W. B. has been seconded I shall be which I must refer before closing.storm
J. Gardner, J. M. Gor- then you are aware the Society's tho Accounts are audited by Mesura, I am very sorry to see that an doa. II. C. Gray, V. M. Grayburn, Pleased to answer any questions The report was seconded by Mr. Ho Kom Tong, O.B.E.. W. F. you may care to nak. United States of America was very Lowe, Blaglam und Matthews and old friend of mine, Mr. W. E. Smith,ckle. J. H. Little. W. R. Mans- G. S. Archbuit, and carried.
L. Mel'herson, G. A. L.
II. om Planmer. G. Polta Ribeira,
You will remember that Soeloty's are business in considerably curtailed in 1927. has now been decided to recom mance the business on conserva-
round,
come
R. Remedios, V.
C. Savard
tive lines and we have every hour nut and it is proposed this year worries. Our good wishes wil al-Turold Seth, The Hon. Mr. W. E
that a successful business be gradually built up..
can
Business Matters.
the were
mi-
it Messra. Linatend and Davis. Each is retiring. Many of us will miss of these firms kas in the past him sadly but will all wish him been pall fee of $2,000 per an- many years of happiness free from
L
Mr. J. Owen Hughes and so go with Mr. Lauder on his well- nder earned holiday, during which air. L. Shenton, V. F. Sonres, M. A. R. Hon. Mr. C. G. S. Muckic
A re-elected Directors, on the D. V. Steavenson,
tion of Mr. J. Bentley, Becanded Gray will carry on with the know- Souza, ledge that he has the confidence of Stewart, R. L. Stewart.
by M. F. H. Farne, and the audi- With these few remarks.
CHINA FIRE MEETING,
tors, Messrs. Lowe, Bingham and much plea U214 izi
Matthews, and Messrs. Linstead Sir, I have
Prestling at the annual meeting and Davis, were re-mppointed on seeding the adoption of the re-
by The Chinn Fire insurance Co. the proposition of Mr. J. 152 port and acculints,
The report and accounts were tu.. the Hon Mr. C.418. Mackie Alabaster, seconded by Mr. B. M. unanimously adopted,
to raise the fee to $3,000 annum. feel sare that under existing conditions the increase Future Outlook,
will meet with your approval, You will notice, gentlemen, that. I now propos.. the adoption of all. I have refrained from comment-the report and accounts and when ing on the immediate prospects of this has been seconded shall be the Society's business. In Umes of glad to answer to the best of my trade prosperity it is very difficult ability any questions you may care to foresee a decline and its times, to ask. of depression is equally diffult to foretell when
you
revival will
Seconder's Speech.
peat the dividend of farmer years; it is my mean attainment and Bas not been achieved without fremen- dons work and worry on the part of our General Manager and Str. '
work they have done and are doing I am sure you will agree withi
5
Business Mafters,
M
|
sald
present:
EE
Ꮓ
MAJESTIC
THEATRE
HEAR
RILL
I
II. C.
To-day & To-morrow
At 23.0, 6.20, 7.20
& 9.20 p.m.
Business Matters.
4. da Cunha. Gentlemen. The report and de-
On the proposition of Mr. H. C. issued on the 11th Gray seconded by Mr. A. E. S. counts were take place. I would, however, say
Mr. J. D, Butcher proposed, and May, and subject to your approval Alves, the Directors' fees were h Mr. V. Grayburn said: It is that when the long expected trade with great pleasure that I rise to Mr. D. V. Stevenson seconded, I will follow the usuni procedure creased from $1,000 to $1.500 each
theper aunut. recovery occurs, the Society is in
rend. The a position immediately to benefit,end the proposal made by the the re-appointment of the Mr. J. and take them, as well
The following were Chairman that the report mid ae. Then Hughes, and the Hon. Mr. Auditors Report as Gentlemen, considering Flies times I think the figures before ints as presented be adopted. 16. S. Mackie, to the Board of Working Account for the year 1929 The flon. Mr. C. G. S. Mackie shows a balance $797,752.87. (Chairman), the Hon. Mr. W. H think you will all agree with me that Directors, this bring carried.
Messrs. Lowe, can be called satisfactorysidering the evit times we live
Bingham
and Your Directors recommend that a Bell, J. A. Plumnier, and Mr. J. P. and in this connexion i would like i
Linstead a dividend of $5.00 per share, Warren (Director), Mr. Paul
audi
Manager).i to pay a high tribute to our Genets, been going through, and I regret to Matthews, and Messrs.
(General mas are still experiencing. It and Davis, were relected!
Mesars. J. W Manager. Mr. Paul Lauder.
tors on the proposition of Mr. A. bonus dividend of $6.00 per Lauder
share and an exchange bonus divi. Shareholders feel it is ta a great extent due to Wanderful that the tinien can res slyvanyun, seromled by Mr. J.
dend of $14,00 per share be paid to Alabaster, A. E. S. Alves, G. S. the conservative policy he has
Gordon.
rebolders, absorbing 3580,000, Archbutt, John Bentley, B. M. adopted that the Society ix in
Directors Fees.
and that the banner be carried da Cunha, F. H. Farne, such and position today, fe
forward to Underwriting Suspense Gray'. has been ably supported by a most
The Hoo. Me. W. E. L. Shenton Account se clase the Account for BRITISH TRADERS' MEETING. efficient stall stationed throughout, who have earned mur beat thanks said: 1 rise to propose an altern- the year 1929. the world, and I wish to express |
But in the remuneration paid t
of the Presiding at the annual meeting į The balance at eredit our thanks to all for the good for their efforts,
the Society's Directors. Under
Ltd, the Hon. Mr. C.AS. In maintaining the efficiency of our Chairman in hoping for peace Section 9 of the Articles of As-10 Working Account is $1,123, of the British Traders insuranc
shalt 90.76. Out of this balance your Co., suction the Directors
The balance of Working Account the Society at the highest level and prosperity to hunn and India. pakit crat the funds of the Directors recutumend the payment Mackie said:~ possible.
Gentlemen. The report and ar- for the year 1930 stands at £157,- twn entries in which we are all; renutne ration
for their services of an interim dividend of $3.00
Mr. J. Owen Hughes and, the were issued on the 11thị 865. 18. 8. Siner
At the sanu
Your Directors recom-Hon. MP. C. G. S. Mackie were we lust met Mr. W. E. greatly interestesi.
each per share, absorbing $60,000 and counts $2,000 Smith, the Society's Inspertor, has time eannot help thinking Quit retired from
time to study the figures. 1 pro- dividend of 5/- per share, absorb the proposition of Mr. J. W. any) as the Society in geneend meet- | ward, Smith was well knowa to you and return to confidence and prace is hog may from time to time" deter-
!pose therefore to fallow the gaual ing £24,000, that a bonus of 20% Alabaster, seconded by Mr. A. E. Asset Increased, held in high respect ant only by seeded in other important
parts min.
practice and take them, as well as be paid to contributors of business S. Alves, and the auditors, Messrs. The Society's Staff but by all of the world, and the sooner the
I think you will all agree with,
before you have the Auditors' Report, as read. The on bonus terms, absorbing about Lowe. Bingham and Matthews, and The accounts
year £7,500, and that the remainder Messrs. Linstead, and Davis were elasses of the pumnually. Mr. lead in that respect is given the me, gentlenen, that a sum which again bees materially affected by Working Account Smith proceeded to the East for better it will be for verybody. works out in sterling at the car.
re-electent on the motion of Mr. the service of the old Chlan
It was mentioned last year that B. M. C. da Cunha, seconded by reid rate of exchange at rather less the fall in the sterling value of 1929, after payment of an Interim be enrried forward. Traders' Insurance Company (now
than £100 per annum is not a suf- the dollar and you will notice the Dividend of f/- per share and a
bonus of 205
to contributors, owing to a large proportion of the Mr. V. R. V. Ribeiro. total of the assets of the Company
The
Directors' fees were Insurance the British Traders"
To a mere hather, as insurance cient for for the responsibilities Company in the year
is increased by ver $5,000,000, as passed at the last annual meeting, assets of the Company being in 1899 and
not increased from $2,000 each per tapon the amalgamation if that anpany's account is somewhat dil, which our Directors are called up, compared with the previous year, shows a balance of £69,285, 17, 1. sterling the accounts wer
position annum, to $3,000, on the proposi- eult to analyse, last those before us to carry. I therefore have very Company with the Society Ju
appear to in so good i de not much pleasure in proposing that Shareholders will appreciate that Your Directors recommend that a greatly affected by the Joined the Society's Staff. He has think I need eriticfee them in any, the foo be raised to 2200 per an
the explantion of this large in-Final Dividend of 4/- per share be of exchange. I am glad to be able tion of Mr. G. S. Archbutt, second-
to shareholders. absorbing to give a similar assurance as re-ed by Mr. J. Bentley, filled positions at
of our ពះពោ
I feel contidest, gentlemen. rease Bes in the fact that the paid
before The meeting was attended by: why except Envourably. With this mum. Branches and has acted in charge rail in silver the Society's stly, that this proposal will meet with, Company has the bulk of its assets £19,200, that £19,000 be added to gards the accounts now
I now propose the adoption The Hon. Mr. C. G. S. Mackis 'at Head Office. Mr. Smith har reserves
whow
in gold securities, the dollar qui(the Reserve Fund, increasing that you msturally
ayur approval. given most valuable service
sptaller vaine when convert- Mr. H. B. L. Bowhiggin second- valent of which is materially in Fund from £165,000 to £175,000, of the report and accounts and (Chairman), the Hon. Mr. W. H.
Warren the Society and I am
(Directors): Mr. Paul gold but against thised, and thy resolution was carried creased consequent upon the fall and that the balance of £10,085, 17 when this has been seconded Ball. Mr. J. A. Plummer, Mr. J. P.
I be carried forward to Underwrit shall be glad to answer to the will all join me in wishing him a
their liabilities in silver bavi mamimously.
in exchange.
Suspense Account. It is
best of my ability any questions fauder tieneral Manager), and Messrs. H. C. Gray, G. S. Archbutt, very happy retirement.
fallen if expressed in goli, flausch | The Hon. Mr. C, Gordon Mackie With regard to the dividend and ing
you may care to ask.
Mr. II. C. Gray seconded the John Bentley. A. F. S. Alves, J. thda, of course, is not shown in presided. Eeing supported by the bonuses recommended I would estimated that this balance will be
warn shareholders that the cun-sufficient to meet all further claims report, which was unanimously Alabaster, V. B. V. Ribeiro, the balance sheet. A general fall Bon. Mr. W. H. BR, Mr. J.
| B, M.-C, da Cunha (shareholdera). approved. b. Hi prices and dullness, in tande mist Plummer, and Mr. J. P. Warren tinuance of the exchange bonus on the year's account,
ht
the
rate
our service. Mr. le assist them to that end a general per annum or such other sums that the remainder be carried for May, which will have given you; mend the payment of an interim re-appointed to the Directorate on
Auditors' Fees
Sure YOR
Mr. Lauder, is proceeding
leave next week and will
Ti
ה,
ed
Will Weather Storm,
A
for the
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