THE HONGKONG TELEGRAPH. FRIDAY, MAY 27, 1932.
UNION INSURANCE
MEETING -
¿Continued from Page 5.}
version of different montes is to bo commended. The increnned Sum of £145,588.19.10 as shown in the Exchange and Fluctuation Ac- count should appeal to all of us as an admirable result.
There is a pessimistic expresslot with regard to the premium income, but we must try and remember that history repeats itself or that there la invariably a calm after u storm. We would that we could have the optimism of the late Capt. Dollar na per his remarks In n speech he, recently made. We pin our faith in the able managemen! of our Society by the senior and responsible men and we have much antisfaction in the knowledge that there are several young men with the ability to fill senior posts when
Не внно- the time b opportune. clate ourselves with your remarks, Mr. Chairman, in the and loss of the late Mr. A. Macgowan whom most of us knew well. I conclude with beat wishes for more pros- perous times.
The report and accounts were unanimously approved.
OTHER BUSINESS. Messra, J. A. Plummer and J. 1o. Warren were re-elected to the Board of Directors.
Measra, Lowe, Bingham and Mat- thews and. Mesars, Linstead and Davles were appointed nuditors for the ensuing year at a remuner- atlon of $3,000 each.
Those present were:
Messrs. 1.
J. Davies, J. Owen. Hughes, T. A. P Mitchell, J. A. Plummer. J. Warren (directors), Pau? Lauder (general amnager), G. S. Archbutt, J. W. Alabaster, Frank Austin, John Bentley, C. Bewley Bird, J. W. C. Bonnur, J. D. Butcher, B. M. C. da Cunha, J. D. Danby, J. D. Dalziel, R. A. Dastor, W H. S. Dent, W. R. Finnigan, J. M. Gor- don, Ho Kom Tong, A. W. Hughes, C. C. Knight, "W. I. 'Mankfield, - F Ormiston, G. H. Polts, L. G. Ribeiro, O. F. Ribeiro. V. R. V. Ribeiro, M. A. R. Souza, V., F. "Soares, Sum Pak-ming, A. Steaven- son, D. V. Steavenson, H. C. B. Way, the Hon. Sir Henry Pollock. the Hon. Mr. W. E. L. Shenton, the Hon. Mr T. N. Chau.
CHINA FIRE MEETING
share
"ONLY LOSERS"
Edwin Lefèvre, certainly a most interesting, and perhaps also the most authoritative writer on the New York Stock Market, says, in the "Saturday Evening Post" of February 13th, that in "the market' if you are wise, you must lose.-if you are foolish, you must lose, that in the market there is neither wise nor foolish- only losers.
After all, however, it is your money that you have lost,—and if you
have another try, you will lose again!
And it's nobody's business but your own (if, for the moment, we forget the family).
Isn't it wise to secure a bit of insurance against the
market?
We will guarantee your comfort, and your dependents' independence.
CROWN LIFE INSURANCE CO.
Toronto, Canada.
Established 1900.
Crownchina Company, Inc.
Gloucester Building,
2nd Floor.
GENERAL AGENTS.
Tel. 28400.
on the year's
F. J. Courtney,
Managet
POSTAL STRIKE
It is proposed that this sum count. It is ertimated that this Presiding at the ordinary general meeting of the China Fire Insur-shall be taken from the undivided balance will be sufficient to meet
CALLED OFF Fall further claims ance Co., Ltd. the Hon, Mr. W. H. profits of the Company and that Bell said-The Working Account the Extra Reserve Fund, which
RESULT OF SPECIAL for the year 1930 shows a balance to-day consists of £100,000 and account.
COMMITTEE'S EFFORT The balance o Working Ac- of $532,075.21. Your Directors re- $100,000, shall be utilised for this:
Shanghai, May 26. commend that a final dividend of purpose. If this sum however is count for the year 1931 stands at
The speedy termination of the $9 per share, a bonus dividend of insuficient it is proposed to take
the balance from the Re-insurance £131,492.3.5. Your Directors re-
strike was largely the result of $6 per
and an exchange
commend the payment of an in- mediation Fund.
on the part of public bonus dividend of $7 per share bo
It is proposed to make n enterim dividend of 58. per share, lenders, enabled by the creation paid to shareholders, absorbing $440,000, and that the balance be per share and to meet this absorbing £24,000, that a bonus of of a special committee to study call by the declaration of a spacial 20g he paid to contributora of Ananelal matters regarding the carried forward to Underwriting dividend of the
amount. business on bonus terms, absorb-Postal Administration. Suspenge Acount to close the Ac-Under our Articles of Association ount for the year 1930.
it is necessary to give 14 days' The balance at credit of the 1931 notice of the call and it is Working Acount is $1,327,410.57. therefore proposed to make the Out of this balance your Directors enit due and the special Dividend | recommend the payment of an in payable on the 13th June next.- terim dividend of $3 per share, absorbing $60,000. and that the remainder be carried forward,
Atme
I now have the plensure to pro- pose the following Resolution:-
That it is desirable to capitalisoi
As was to have been anticipated;ja sum of $1,600,000 being part of the accounts before you have been the undivided profit of the Com- considerably affected by exchange pany standing to the credit of the which has been responsible for an Extra Reserve Fund and for that avoldable fluctuations.
purpose:-
(n) Should The-Hongkong dollar With regard to the dividend and
will equivalent of, the Extra Reserve bonuses recommended you recall
at Fund on the 13th June, 1932, be warned were you the
mecting not of the value of $1,000,000 then Inst annual that a continuance of the exchange here shall be transferred from the bonus dividend would depend on the the Re-insurance Fund to position of exchange and further Extra Reserve Fund auch um that it was inevitable that there will with the amount now would be variations in the amount standing to the credit of the Extra of this particular distribution. Reserve Fund make up the sum of You will see from the report before $1,600,000.
I W
you that the exchange bonus (b) A call of $80 per share is dividend recommended is at the hereby made on the Shareholders rate of $7 as compared with $14 of the Company appearing on the. per share last year.
I now move that the Directora report nnd statement of accounts as presented be adopted and when this has been seconded I shall be plensed to Roawer any questions you may care to ask.
Mr. G. S. Archbutt seconded, and the motion was carried..
Register of Shareholders on the 27th May, 1932 and such call shall be payable on the 13th June, 1932 to the General Manager at the Registered Office of the Company.
(e) That for the purpose of paying the aforesaid call of $80 per share a special dividend of $80 per share is hereby declared payable on the 13th June, 1932. and that such special dividend be applied on behalf of the Shire- Menars. J. A. Plummer and J. holders by the Directors in satis- Warren were re-elected to the faction of the enll of $80 Board of Directóra.
share.
OTHER BUSINESS.
per
I shall be glad if some share-
A AKCİTARTAREZ PAPIERAMICET
"TELEGRAPH" ART SUPPLEMENT
Numerous Empire Day Pktures.
A feature of to-morrow's issue of the Telegraph Pic. torial Supplement will be the display of pictures reflecting Empire Day activities in Hongkong.
In addition to groups taken at the opening of the Empire Products Fair, the pictures will illustrate the Girl Guides rally at Government House, the Boy. Seoul rally at Mag- staff House, and the lying of roses on Queen Victoria's
tatue.
An interesting series of the . Peak Wolf Cub Pack of the Boy Scouts in camp at Salwan will also appear, as well as a group taken at the opening of the extension of the Yeung Wo Hospital...
Other illustrations will dent with the wedding of Mr. Soo Misa Tang Chong-hee and
woll as the Kwan-yuk, 20 Second Division lawn bowls match between Recreio and -Talkoo..
The purpose of the special com- mittea will be chiefly to discuss two of the demands of the strikers that hitherto it has been found impos- sible for the Government to comply with, namely the amalgamation of the. Postal Savings and Remittance Bank with the Postal Administra- tion, and the discontinuance of the allowance to aviation companice.
A number of prominent public leaders will be invited by the Gov- crament, to serve, on the committee. Instructions from Union,
Peking. May 26. The Postal Union received in- structions from the Union at Shanghai to call off the strike, hence it was decided to resume work at 9 azn. to-morrow.-Reuter. for the honour you have conferred on me by attending this tou- party. (Applause).
Messrs. Lowe, Bingham and Matthews and Messrs. Linstead holder will second the resolution, manum LED "HERKALEMLİ And Davico were appointed Mr, G. S. Archbutt seconded nod
auditors for the ensuing year at the resolution was agreed to. ing about £5,000, and that the re-
a remuneration, of $1,500 anch,
MORE CAPITAL.
An extraordinary meeting of the
China Firo Insurance Co., Ltd.,
paid capital of the Company.
BRITISH TRADERS
MEETING
mainder be carried forward.
I now propose the adoption of the report and accounts and when
Presiding at the annual meeting this has been secondled I shall be
followed, for the purpose of pass of the British Traders Insurance glad to answer to the beat of my ing resolutions calling up the un-
Co., Ltd., the Hon. Mr. W. II. Bellability any questions you may care The Ilon. Mr. W. H. Bell, pre-id:-The Working Account for to ask. siding, said: The capital of the the year 1930 after payment of an Company at present consists of interim dividend of 5. per share
Mr. G. S. Archbutt seconded,
20,000 shares of the nominal value and a bonus of 20% to contribu- and the motion was carried.
tora, passed at the last annual
Your Directors recom- 246.0.7.
OTHER BUSINESS. Mesars, J. A. Plummer and J. P. were re-elected to the
of $100 each, of which $20 per meeting, shown a balance of £72.-| share has been paid up. Your Directors have given the businas mend that a final dividend of 45. Warren and financial affairs of your Company their careful considera-per share be paid to shareholders, Board of Directors.
absorbing £19,200, that £25,000 be
tion and they have come to the added to the Reserve Fund, in- Mesars Lowe, Bingham and Mat- conclusion that it is in the increasing that Fand from £175,000 thows and Menara Linstead and terests of the Company to call up to £200,000, and that the balance Davies were appointed auditars the unpaid capital amounting to of £28,040.0.7 be carried forward for the ensuing year at a remuner-; $1,600,000,
to Underwriting Suspense Ac-ation of $1,500 each.
FOR
BRITISH INSTRUMENTS, BRITISH MUSIC
BRITISH
COMPOSERS
* BRITISH PUBLISHERS
BRITISH PIANOS
SEE
BANKS.
P. & O. BANKING THE CHARTERED BANK OF HONGKONG AND SHANGHAI
CORPORATION LTD
(Incorporated in England, 1420).
Authorised Capital Bubscribed and Pald Up
Reserve Fund
HEAD OFFICE:
INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter 1941,
HEAD OFFICE:~~LONDON. Pald-Up Capitai
A Fund ...
142,000,000)
8,000,000
45,000,000
2,834,100 | Reserva Llablilty of Proprsilor .. $,000,000)
180,000
117-122, Leadenhall Street, London, E.0 %
WEST END BRANCHI,
14-10, Cockapur Street, London, D.W.I.
AGENCIES AND DRANCHES,
ALON STAR
| AMRITSAR DANGKOK BATAVIA BOMDAY CALCUTTA
DIANCHES,—Bocahay, Celenta Callmat.CANTUR CANTON Colombo, Hongkong. Madras, Shanghai, CAWNYORE *Singapore.
CEDU AGENCIES—In all the principal towns of COLOMDO the world.
DELIN
ILOILO
rol!
KARACHI KLANG
KONE
KUALA
MADRAS
PENANG RANDOON BAIGON
SEMARANG
BEREMBAN
ΕΠΑΝΟΠΑΙ SINGAPORE SITIAWAN SQURADAYA
BANKING CORPORATION.
Authorized Opital ....... Kated and fully Paid-up
Eeserve Funda 1-
Sterling as
.550,000,000 ........... 20,000,000
» 228,500,000 $10,000,000
Reserva Liablills of Proprietors...$20,000,000
HEAD OFFICE, KONGKONG.
BOARD OF DIRECTORS.
.... Hon. Mr. J. Z. Paterson,
Obairman,
Peares ac
Deputy Chairman.
Hon, Mr. W. H. Ball, J. A. Plummer, Das. 4. II. Compton, Ea. T. II. R. Shaw, Wars M. T. Jabraon, Esq. J. F. Warres, c.
Q Mukia, B
V. M. GRAYBURN E, UNIET MANAGER.
DRAKCORG
LONDON LYONB
KANCUAR KUALA
LUMPUR KUCHING
TAIPING
TRIENTSIN.
MANILA
MEDAN
TONGKAN (heket)
NEW YORK TSINGTAO PEPING
YOKOHAMA (Peking" ZAMBOANGA
AMOY
Fized
DANGEOK BATAVIA GALUUTTA CANTON CHETOO COLOMNG DAIREN FOOCHOW HAIPHONO HAMBUWO HANKOW
MUAR (Johure? MUKDEN
NEW YORK
General Exchange and Baking Eain KAIPHONG transacted. Ioans and overdrafle granted on HAMDURG approved security. Current and Fixed Depoelt BANKOW
MARDIN accounts opened.
BAVING DANK ACCOUNTS-Interest HONGKONG allowed at rates which may be obtained on application.
Foreign Exchange and General and Fixed TRAVELLERS' LETTERS OF CREDIT business transacted.. and TRAVELLERS' CHEQUEN lessed,
Current
opened Accounts PASSENGERS' LETTERS OF CREDIT Deposits received for one JOAN or shorter for use only on board P. O. and B.I. periods at
which will be quoted on 1fome Line steamers, and at Parts of Call. application.
British Income Tax Recovered. Executorship and Traleeship undertaken.
W. J. WADDINGTON,
Manger.
SHARE PRICES.
TO-DAY'S QUOTATIONS,
The following is the list of local share quotations issued to-day:
Banka.
Hongkong Banks, $1550 n. Chartered Banks 211% 1.
• Mercantile Bunks, £17 n. Enst, Asia, $113 b.
Am: 0. Finance Corp., $26 n、
Insurances,
Canton Ins., $1200 b. Union Ins., $475 b. Chin Underwriters, $3.40 3. China Fires, $600 b. H.K. Fire In., $1,195 .
Shipping.
Douglases, $27 b.
H. K. Steamboats, $22 n. Indo-Chinas, (Pref.) $45 n. "Unton Waterboats, $20 b.
Mining.
n.
China Estates, $100 Benguet Exp. 31 cts. b. Benguets, 161⁄2 b.
Kailans, 20/8 n.
9'hal Explorations, Tls. 2.10 n. Raubs, $381⁄2 8.
Ducks, etc.
Kowloon Wharves, $144% b. Whampoa Docks, $18 b. South China Motors $10 n. Providents (Old), $4.96 b. Hongkewe, Tls. 22 n. New Engineers Tls. 6 n. Shanghai Docks, The. 88 D.
Cottons.
Ewo Collons, Tla. 13.80 b. Shanghai Cotton, Tls. 78 0. Zoon Sings Tls. 10 n.
Lands, Hotels, etc.
H. K. Hotels, 312.70 . H. K. Hotels Rights, $2 n. H. K. Lands $774 b. Metro Lands $10 n. S'hai Lands, Tls. 27 b. Humphreys, 315.60 b. Asin Realties. "B" $26 n. Realtics, $12 b. Asia Renities "A", $155 n.
Public Utilities. Tarmways, $21.40 b. Peak Brama (old), 317 b. Star Ferries, $30 b. China Lights, $20.40 b. H.K. Electrics, $74.60 b. Macao Electrics. $24 b. Telephones, $381⁄2 n.
· China Buscs, Tls. 16 n. Singapore Tractions, 8/l.
Industriala
b.
Malabons, $21 n. Canton Ices, "$5 Cements (com.) $18.30 b. Ropės, $13.65 b.
Storen, etc. Dairy Farms, $28 b. Watsons (new), $14 b. Watsons (new), $13.60 b.. Der A. Wings, $1 n Lane Crawfords, $6.00 n. Mackintosh, $21 m. "Sinceres, $16.20 n. Powells, $3.35 n.
Miscellaneous. Amusements, $22 n. Entertainments (old) $14.25 n. Constructions (old), $5.20 b. S. C. Enterprises $8.75 . B. Ind. O. $ Bonde, $68% n. Constructions (new), $1.70 b.
GREAT NORTHERN.
Our Window Display STONETOI WINS DISTANCE
Finest Collection of Everything Musical
.in
SOUTH CHINA TSANG FOOK PIANO COMPANY.
8, Des Voeux Road Central. (Entranco Ice House Street).
Telephone 24648.
RACE AT YORK
London, May 20. The Great Northern Plate, ran at York to-day over a mile and a half resulted:
Stonetol Armagnac Lanson
יין *
1
Betting: 10/1 Stonetol, 7/1 Ar- magne, 100/6 Lanzon.
Won by three lengths with eight lengths between second and thir There were 10 starters--Reuter
II.D. CERTIFICATES.
Of the Societo Internationale fo Placements, Banie. (Local Agents Mexsra. A. Goeke & Co.)
Thursday's official quotation Basler & B. Ode
in
Tabe
14
J. STUART, Managi Hongkong. 17th August. AD31,
THE YOKOHAMA SPECIE BANK LIMITED.
Capital (fully paid up)......... 100.000.000 Reserve Fund ...................................... 137,300,000.00
• DEAD OFFICE1-TOKORAMA.
Branches and Agencies at
Rangoon Rio de
Alexandrila
Honolulu
Datorik Berlin
·
Kal Turn
Karachi...
Bombay
Calenita
Canton
Los Angeles
Changchun
Kobe
London
Mana
Dairen (Delay)Nagasaki
Fenstien
(Mukden)
Hamburg
Hankow
Harbin
Hoerkong
Nagoya Newchwang
Now, York
Parks
Patplo
Janeiro. San Francisco Seattle
Semarang Shanghai Shimanomekl
Kingapore Sourabaya
Bydney Tientsio
Tokro
• Thingtee Interest slowed on Current Assotesta, Deposits received for fixed periode si ras
I. MORE
to be obtained on application.
Hongkong, Zint May, 1927.
HARDIN
HONGKEN
ILOILO IPOU
MALACCA MANILA
PEIPINO FENANG BANGOON SAIGON
BAN FRANCISCO BHANGHAI BINGAPORE
DOURABAYA
BUNGE PATANI TIENTSIN.
TOKYO
THINGTAO
JONONE KODE KOWLOON KUALA LUMPUR. TOKOHAMA
Current Acovrata opined in Local Currency
and Fixed Deposits received for one year, KÝ shorter periods in Local Currency and Sterling on terms, which will be quoted on applienilem
longkout. 4th April, 1912.
HONGKONG SAVINGS BANK
The Business of the above Ebank-Sa cendolad by the HONGKONG AND (UTA. GĦAI DANK- ING CORPORATION. Rules may be obtained os application.
FOR THE HONGKONG AND SHANGHAJ DANKING CORPORATION.
V. K. SRATDURN,
Oblet MADASST, longkong, 17th 'Februdaya III
THE NATIONAL CITY BANK OF NEW YORK.
THE HO HONG BANK, HEAD OFFICE: 55, Wall Street,
New York,
Capital, Surplus and
Undivided Profits. US$226,599,775,00
MANCHURIA
MEXICO
LIMITED
(ESTABLISH 1917).
Authorised Capital
.Straits $20,000,000
Javed Capital
8,000,000
Pak-up Capital
4,000,000
Branches Ins--
"Η
Henares, Llabilities of Share-
holders
4,000,000
Burplus
*2,324,000
ARGENTINM BELGIUM
LONDON
BRAZIL
CHILE
HEAD OFFICE)—BINGAPORE.
CHINA
JUDA
Every description of Banking and Exchange DOMINICAN hulness transacted.
TAN ENG Пool,
REPUBLIC
INDIA
ITALY
JAPAN
If
Branches: Agencies and Correspondents to COLOMBIA the principal cities of the world,
PANAMA
PERU
PHILIPPINK KLANDS
FORTO 00 STILAITS
-SZTTLEMENTS
UNUGYANY VENKĽUKLA
Commercial and Travellers' Letters
BANK OF CHINA. Credit Travellers Cheques, Bills
of Exchange and Cable Transfers Reeorganized October 16, 1928, under special brought and sold. Current accounts charter of The National Government and Savings Bank accounts opened and Fixed Deposita in local and INTERNATIONAL EXCHANGE BANKL Subscribed - Capital
425,000,000.00 foreign currencies taken at rates that Paid-Up Capital
may be ascertained on application to 6329,598.32 the Bank. Reservo Pandr
NEAD OFFICE:-SHANGHAL..
HONGKONG BRANCH,
4 Quaen's load. Central.
Owing to our numerous branches in China and large connections in the Important com mercial centres of the warid, we are able to extend to our clients social facilities for domestic and foreign banking and exchange. We also handle the Le of Bonds and other Publie Funds of the Chinese Goreto- ment both at home and abroad
BNOU J, CHEN,
Manager.
THE BANK OF EAST ASIA, LTD, Established 1918,
HEAD OFFICE:
10, Des Voeux Road, Central,
HONGKONG.
Capital & Surplus over II$8,000,000 | Total Resources over H$30,000,000!
We are also able to offer our Customers the servicos of Branches of the International Bank- ing Corporation in Spain and also of The National City Bank of Now York, (France) S.A., in Paris and Nico.
R. M. McLAT,
Manager.
Hongkong, 4th March, 1932,
NEDERLANDSCHE HANDEL MAATSCHAPPIJ, N.V.
(Netherlands Trading Society)..
DANKERS.
ESTABLISHED 1826.
Hongkong Offer: 11, Queen's Hand, Central Authorized Capital Quilders 120,000,000 Paid-Up Capital
„Guilders 20,000,000 Heserve Fund
.Quilders 40,0£2,000
Head Mesi-AMSTERDÁM
Eastern Head Off-BATAVIA,
Every description of Banking RANCDE81-BandJerman, and Exchange business transact- ed.
Current and Fixed Deposit Ac- counts in local and foreign cur- roncics opened for clients.
Savings Account and Safe De- poait Boxen..
'Branches and Agencies all over the world.
KAN TONG PO,
Chief Manager,
CANTON AGENTS
for The
Hongkong Telegraph.
THE SHAMEEN PRINTING PRESS, LTD.
83, B.C. Shameen. (Nr. British Bridge)
Tel. 12017.
LE
Bandoeng,
Bombay, Celovits, Cherbo
The Djember, Dickjakarta" Hague, Jeddah, Kobe, Maka sar, Medan, Palembang,
Pepank JODEAF
Hangoon, Rotterdam, Bamazung.* BUSIN
Відамрото, Boerabala, Sorrakarta, Bolo), Tegal, Tjk Jaties and Weltevreden,"
hair
-* "hers offices have anfe deposit botes ia lak London Bankers-National Provincial Book
1 Correspondents all over the world.
BANKING BUSINESS" OF EVELY DESCRIPTION TILANSAUTED. A. STOKKINI,
Manager. Hongkong, ist December, 1981.
THE BANK OF CANTON LIMITED.
BSTABLISHED (112.
Head Office:~Hungkong.
Authored Capital Fald-Up Capita)
laserre Fund DRANONES -
...$11.000.000 3,300,000
Casion, Shanghaj, Hankow, #hentaw, Bangkok, New York and Ben - Trim LONDON BRANCHLES +~~
The Legal Dank. Limited. Chyrespondent Gå att principal site of the Foreign Drchange and Banking boslaam në Jerury Ameription: Inknekejek
Bade Depor! Banno trazione simon) në a Froarty rental of_from. 83 WINE.
ROOK FRONTIWAN,