1920-05-13 — Page 8

BATHING

PARTIES

will soon be in full swing. Choose your Bathing Suit from our now Stock and yon be ready for a swim.

The newest style in plain colours and fancy striples in cotton and wool

PRICES RANGE FROM $3.25 per Sult

MACKINTOSH

* CO., LTD.

MEN'S WEAR SPECIALISTS..

Telephone 18.

18. Dos Voent Road.

COMPANY REPORT.

NORTH CHINA INSURANCE,CO., LTD.

The following is the report for presentation at the seventeenth ordinary general meeting of shareholders, to be held at the head office of the Company, No. 7, Kiukiang Road, Shanghai, on Friday, the 21st May, 1920, at 4.30 pm.

The Directors have pleasure in submitting, for the information of shareholders, the annexed duly audited statement of the Company's accounts to the, 31st December, 1919.

1918The balance at credit of this account is Taels 466,902.72. After deducting the following items -Interim and second dividends, totalling 30%, and bonus of 15% upcr contributory Marine

Tis. 75,272.99 Premium

Amount written off premises, passed at

last annual meeting ...................

Amount written off sterling securities,

58.923.4.4 79

Transferred to exchange and Invest.

ment Fluctuation Account

30,000.00

"

23,027,66

75,000.00

there remains a sum of Taels 262,602:07 which the Directors recommend should be appropriated in the following manner f

£20,000 transferred to Reinsurance Fund.

And the remainder to be transferred to Underwriting Reserve Account, closing the Account for 1918;

1919 The balance at credit of this account is Taels 933,190.18. The Directors recommend that an interim Dividend of 15% on the paid-up capital be paid to shareholders; that a bonus of 20% upon Contributory Marine Premium be paid and that the remainder be carried forward.

Directors.It is with great regret that the Directors have to record the death of Mr. Eugene Binder of Messrs. Olivier & Company, who joined the Board in 1918. During the year Mr. C. G. S. Mackie, of Messrs. Gibb, In accordance with the Livingston Company, joined the Board.

provisions of the Articles of Association the Directors, all retire but, being eligible, offer themselves for re-election.

Audit. The Accounts have been audited by Messrs. Lowe, Bingham & Matthews, who again tender their services to the Shareholders. By Order of the Court of Directors.

W. NATION, Acting Secretary and General Manager.

Shanghai, 29th April, 1920.

BALANCE SHEET AS AT 31st DECEMBER, 1919.

Capital Account:

Cash on Depoalt and Current.

THE CHINA MAIL.

Account in Shanghal.................. British Government Securities Indian "and-Colonial - Govern- »..

ment Securities Foreign Government Securi

ties ...... Foreign Municipal Securities. Railway and Other Debentures

and Debenture Stocks ... Kallway and Other Preference

..and Guaranteed Stocks... Railway and Other Ordinary

Stocks Mortgages on Property la Shanghai...finra. Land and Premibes-Shang

hai, Hongkong and Yokohama London Branch Balance

Cash at Bankers. British Government

Securities...................... Indian and Colonial Govern

ment Securities Indian and Colonial Muni cipal Securities Foreign Government Securities... Foreign Municipal Securities... Railway and Other Debentures and Debenture Stocks Railway and Other Perference and Guaranteed Stocks... Railway and Other Ordinary

Stocks

Furniture Account :-

London and Manchester...

Premia Outstanding, Bills.

Receivable, Policy Stamps, Drafts in course of collection....

ASSETY,

Tack.. £' 5. d..

95:468.75 36,994 2 10 179,433.29 67,224 15 6

45,130.65 17,488-2 6 233,203.94 90,366 10 6 487,152.29 185,771 10 3 281,520.40 109,089 3

15,327.37 5,939 7 2

6,550.00 3,313 2 6

31328125 121,396 9

8

247,65425 95,966 0-5

£6,151 17 $

107,800 00

27,797 0 0

3,600 0 0 34.161 7 7 4,514 0 0

17,800 00

12,100 0 0

7,152 0 0

£221,076 5 3

48 16 6

$3,573 15 1

£304,698 16 10

Less-Bills Payabel and Due

to Sundries.......

66,656 6 6

£238,042 10 4

Add-London Freehold Pre-

mises

34.000 0 0

7.9 £272,042 104 702,045.20 272,042 10

Balances at Branches... Furniture at Head Office,

Branches and Agencies... Sundry Debtors

Exchange 7/9 per Tael).

Net Premia.

Interest Transfer Feesome

203,689.19

20,490.65 175,672.42

4

3

CORRESPONDENCE.

WAGES.

[To the Editor of the China Mail.]}'

Sir, Mr. R. Dupp's letter in your Issue of Tuesday was a bit of a surprise to me and as I always take a delight bumping against the Government probably on account hot my Irish blood-I made it my business to find out as much as

I

could about the new scale of salaries.. I have not found out a great deal yet "bat what I have discovered redounds greatly to the discredit of those responsible.

"Increments are being cal culated an some unknown arbitrary basis and not as an pounced on numbers of years of service" This requires some ex: planation. Who is responsible? The rate of salaries and the regulations governing them came from home I presume. Why then should anyone in the Colony be permitted to juggle with those rates and give men seniority to which they are not entitled.

As regards the new rate of salary Mr. R. Dupp deals with the junior schoolmaster but what about the seniors. Are they satisfied?

Another point your correspondent mentions is that schoolmasters are expected to lecture at the Technical Institute without further remunera tion. This I understand is the out- come of the report of the salaries. commission.. Who were the men on that commission who dared make such a suggestion? I take it they were local business men but did they fully realise what they were doing. I am afraid not or they would not have made such a recommendation. Did they arrive at their decision because of the short hours and long holidays of schoolmasters? It is a great pity there is no branch bere of the N. U. T. (National Union of Teachers). Could not a branch be formed! Then the teachers would

78,929 11

be certain of someone to take up the 2,943 12 4 cudgels on their behalf. I am not a 68,073 I 3 schoolmaster, but I am an underpaid man, and if they get theirs, I may

Yours etc.

SHIN RANE.

'TENNIS YESTERDAY,

Taels £3,002,678.65 1,163,537 19 7 get mine.

WORKING ACCOUNT 1918.

December 31, 1919.

Taels.

1,406,447.25 Commissions, Charges,

144.793.46

45.00

?

&c. at Head Office, Branches & Agencies Directors & Auditors'

Fees Income Tax & Other

Taxes s Depreciation Furniture Losses & Claimatiker Balance carried forward

WORKING ACCOUNT 1919.

Taels...

1,551,285.71

LIABILITIES.

Taels.

a. d. 129,032.26 50,000 0 0 567,741.93 220,000 0 0 370,000.00 143,375 0 0

£

10,000 Shares at £5-£50.000 @ 7:9....

Sterling Reserve Fund £220,000 € 719 Silver Reserve Fund

Underwriting Reserve Account £81.274.16.9

7/9......

Reinsurance Fund

Exchange & Investment Fluctuation Account War Tax Suspense Account £15,000 7.9... Working Account 1918:

Amount Brought Forward from

below

Deduct:--

Interim and Se

cond Dividends

and Bonus to

contributors...Tis: 76,272.99.

Written off Pre-

miges Written off Sterk- ing Securities. £8.923.4.4. ai 7/9.............er Transferred to Exchange and Investment Fluctuation Acccent ..*.**

30,000.00

23,027.66

75,000.00

.Tls. 466,902.72

209,741.51 81,274 16 9 Net Premia 218,831.19 84,797 1 9 Ioterest 127,870.31

49,549 14 11 Transfer Fees

38,709 68 15,000 0 0

December 31, 1919.

Tael's

Taels

1,480.911.20 Commissions. Charges,

153,297.57 46.00

Taeis....1:634,254.77----

WM. P. LAMBE,

W. A. ARGENT: Directors. CHAS, M. BAIN,J

Er. at Head Office,

Fees

Taels.

256,121.32

SEMI-FINAL DOUBLES

CONTINUED.

At the Hongkong Cricket Club 6,600.00 Grounds yesterday, another contest in the Semi-Finals of, the Open 57,952.02 Doubles Championship matches, was 10,000.00 fought out, the players being, Messrs... 753,709.650. and. 5. Rumjahn F. Messrs. Ng, Sze 466,902.72 Kwong and A. H. Rumjahn. The match resulted in the victory of the 1,551,285.71 latter tandem, who took of the four sets played, scores, 8-6, 6-2, 3-6, and 6-4.

Taels

The younger Rumjahns made an excellent showing for their ages against the Singles Champion Ng Sze Kwong and A. H. Rumjaho, and should develop into unusual class when they have acquired more ex-

Branches & Agencies 282,560 67perience in the finer points of the game. The champion, and his Directors & Auditors'

partner, did not appear to exert them- 7,000.00

selves very much in this match, and -33.107.99 as a result came near on one or two occasions, to losing two of the sets. 1,321.48

The best set of the four was the 4th 377,074 45

Income Tax & Other

Taxes

Depreciation Furniture Losses & Claims ......... Balance carried forward

Taels......1.634,254.77

AUDITORS' REPORT. .

933.190.18ser, for which O. and S. Rumjan gave the winners a hard battle, displaying excellent form. They came within an ace of taking this set ca two occasions, but were forestalled by clever work on the part of Ng Sze Kwong, and his partner, A. H. Rumjahn.

W.NATION

Acting Secretary and

General Manager.

We have examined the foregoing Balance Sheet and Accounts with the Books and Vouchers of the Company in Shanghai and with the Audited Accounts received from the various Branches and have obtained all the in formation and explanations we bave required.

In our opinion the above Balance Sheet is properly drawn up so as to 101,758 6 0 exhibit a true and correct view of the state of the Company's affairs accord- ing to the best of our information and explanations given to us and as shown by the books of the Company.

204,300.65 262,602.07

933,190.18 361.611 3 11 144,959.52 56.171 16 3

Working Account 1919:- Amount Brought Forward from below. Sundry Creditors.

The depreciation in values of Gold and Silver Securities is more than covered by Exchange and Investment Fluctuation A/c.

(At Exchange 7/9 per Tael) Taels... 3,002,678.66 1,163,537 19 7

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We have satisfied ourselves by examination and otherwise of the ex- istence of the Securities above-mentioned.

LOWE, BINGHAM & MATTHEWS,

Auditors.

Shanghai, 27th April, 1920.

A NOTE FOR SOLDIERS.

ORGAN RECITAL.

Mr. Denman Fuller will give his

The oak leaf is an emblem denot next Recital in St. John's Cathedral

ing that the wearer was "mentioned on Monday next at 6 pm. The pro-

Several hundred spectators were present at the match, which "was honoured by the attendance. cf. His Excellency the Governor, and Lady Stubbs, both of whom seemed to enjoy the tennis very much.

This afternoon, another semi-final doubles will be played, Major and Mrs. Greenaway u. Major Bowen and Mrs. Timms, and will, no doubt, attract a large attendance if the weather continues fine. Yesterday was a fine day for tennis, albeit a trifle warm.

CHAMPIONSHIP FINALS.

It is announced that the finals of the Tennis Championships have been arranged as follows:-.

Singles, Tuesday, May 18. Doubles, Thursday, May 20. Challenge Round, Singles,

Tuesday, May 25,

in despatches."There is a right gramme will include a number from and that seats may now be booked way to wear it, and presumably some Tschaikowsky's famous "Nutcracker for these matches. wrong ways. The latest instructions Suite," a Meditation by the well

on the point are authoritative, and known recitalist Ed'Evry, a Pavane read as follows:-

by Bernard Johnson, the Prelude

"The emblem will be issued in two from Rheinberger's Sonata in E flat sizes. The larger, to be worn with minor, the brilliant Toccata from

BOWEL COMPLAINT IN CHILDREN.. CRING summer months children the sun does it the

the Victory Medal, will be affixed to Widor's fifth Symphony and a very bowe's and should receive the most the centre of the riband at an angle, remarkable Elegiac Romance by careful attention. As soon a aDy of 60 degrees from the inside edge John Ireland, the British composer unnatural locaeness of the bowels i

Chamberlain's Calla and of the riband to the right. The who has so very suddenly come into noticed smaller will be worm when in service prominence and who is one of the Diarrhoes Remedy should be given. dress, transversely across the riband, leading lights of the modern school For sale by all Chemists and Store-

keepers. stem to the right"

of writing.

THURSDAY, MAY 13, 1920,

-NOTICES.

DAIRY FARM NEWS.

Received new shipments

of

LAMB, MUTTON, BEEF, RABBITS, HARES, &c, &c.

from Australia,

KIPPERS, FINNAN HADDOCKS, FILLET HADDOCKS, direct from the Scottish Fisheries.

PICNIC

CHEESE

Prepared by us

and put up

in neat glass jars

at 30 cents per jar.

THE DAIRY FARM, IOE & COLD STORAGE Co., Ltď.

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Underwear however, must be more than porous to be cámfort. able; it must be elastic. Elasticity is of prime importance-aa it allows the garment to give full play to the movements of the body and prevents it from chafing and binding. Kenpool underwear is the only brand that falfis all of these necessary conditions. It is porous for coolness, elastic for comfort, look stitched for durability, and absorbent for health. No other brand selling st popular prices contains all of these necesmsy featuras.

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$2.50 each

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KNEE DRAWERS

$2.50 each

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The NEW STYLE one Button Combination

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$4.75 each.

CALL IN AND EXAMINE THE GOODS.

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20. Des Voeux Road Central, Hongkong.

UMMER BARGAINS HIRTS

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"Hongkong Emporium."

DALTON

MUSTARD & CO.

DDING, LISTING AND CALCULATING

MACHINE

Tel No. 1186.