1923-07-02 — Page 7

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MONDAY, JULY 2, 1923

COMMERCIAL.

The surplus shown on the year's trading, including interest on the fund armounts to £64,847 which, is

HONGKONG NOTES AND carried to profit and loss account.

COMMENT.

DERBY RECORDS.

SWEEPSTAKE FEVER.'

THE CHINA MAIL.

KITE-GLIDING.

NEW METHOD OF LEARNING

TO FLY, 1

perience of the air, writes an air correspondent of the Daily Math

A large motorless glider, of the biplane type, fitted with duplicate controls, is occupied by a skilled airman and a novice, who sit side by side.

It will be observed that ns a set

Nearly everybody is smitten by off against the drop in the Fire

An Ingenious method is being Revenue mentioned above, the the Derby sweepstake fever. The METALS PURCHASES., Caledonian show a splendkl acces-amount of money invested in tested of giving aspirants to the sion straight on the Accident side sweepstakes this year, is believed French flying service a first ex- Clubs, banks, business frms, About a dozen metal buyers as seen from the figures helow, to be easily a record. from the interior, mostly from Fat-with the result that the Company's shan, are in the Colony making two principal departments have trade unions and approved societies.

produced a larger volume of busi- all have their sweepstakes. Wo purchases. Their patronage

men this year are as eager as the conûned to bars, rods, bar-enda ness.

men. Thousands of husbands have and

little quicksilver.

had to take a sweepstake for their Altogether their purchase have

wives. The Lyceum Club wo- amounted to about 10,000 piculs

-40 men's club-in Piccadilly has a which will be about the limit of

sweepstake this year which is the their buying capacity. Hopes were

7,284

largest in its history. held out that this business would act as a fillip to the trade but the business is too small to have had any appreciable effect.

2

THE CALEDONIAN

SURANCE COMPANY.

104! £

1921 £

Personal

Accident Employers' liability General

4,707 4,787

37114 $7:104

- JU

3

1211 124,288 +113,710

Total 209,39 168, 49 + KYRI

The glider is towed forward by motor-car and rises like a kite. It is then cast free and begins a gliding descent to the earth, during, which the pilot accomplishes var- ious matcavres.

RAC. "SWEEP," So strong a hold Has the fever gained in the London clubs that The pupil, holding the duplicate many of them are running two controls, obtains, his first "feel" of 'sweeps." In the case of the Royal the air and finds out what actual are necessary to Automobile Club the £t sweep-movements

The Accident and Employers' liability sections allowing for the IN-reaction to the latter caused by

widespread unemployment have stake is worth £3,000. There is balance or turn the glider and to yielded a satisfactory surplus and another private sweep" among bring it smoothly to earth.

By this method, described as 'kite-gliding,” it is claimed that a sum of £11,000 has been trans-members, the tickets of which are

A large addition to the general nearly £2,000.

struction with an apparatus far less costly than a large power-driven account revenue has been made

aeroplane.

Enterprise in the search for fresh

H

COOLIES RIOT.

GARAGE - MANAGER ARRESTED,

The removal of the ricsha stand from outside the Naval Canteen, Wanchal, to Anton Street has resulted in bad feeling between the Hong Lok Motor Co. and the coolles. This culminated in a fracas at 9.20 p.m., last night when one ricsha coolie was wounded by a shot from a revolver.

Lam Wing-yan, managing director of the garage, states that he was threatened by about fifty coolles who brandished poles, &c. He fired two shots in the air

effect without

and then discharged a third round low after he had been struck on the head with a pole. This round bit a coolic who was wounded.

This morning Lany was charged before Mr. Wood with shooting and wounding and was formally re manded on $500 bail. A brother' who is alleged to have assisted him

conduct with a spanner and re- leased on $25 bail. Four coolics were detained for enquiries.

outlets of business, blended with ferred to the shareholders account. £5 each and the total prize mon novices can obtain preliminary in was also charged with disorderly

taken tickets.

LOST GOLF BALL.

PLAYER'S SHOT INTO POCKET.

The National Liberal Club has caution, is the predominating Scottish office, The Caledonian In- and notwithstanding provision for one worth about £2,000. Among feature in the policy of the oldest surance Co., as is evidenced in this unexpired risks on increased other clubs that have big sweep Co.'s report, received by last week's liabilities shows a satisfactory aur-stakes are the Cariton, the National mail, which was presented at the plus, whereof £5,000 is carried to Sporting, the Victoria, and the the profit and loss account, the Conservative, Nearly every large one Indred and eighteenth ordinary Annual Meeting held balance being left to strengthen hotel is running a sweepstake in within the Co's Office, Edinburgh, the reserves. The fund at the end which the staff and guests have on the 3rd May, presided over by an increase of £53,237 forthe year. being run in Ireland. One of the of the year amounted to £111,530

Several large sweepstakes are the Chairman, Mr. Alexander Robb,

The shrinking in Marine pre- Bearing in mind the acute de-miums is apparently, caused by largest is in connection with the pression in trade which marked Marine business offering in the Meath Hospital, the first prize being the period under review, the year's market shrinking. still further worth £10,000.

Last year £291,813 was sub- results of business appear very during the year which, together satisfactory.

As the reader of these lines is no with keen competition, brought scribed to the Calcutta Turf Club down rates to a level which the Derby Sweepstake-better known doubtaware unfavourable economic conditions were not confined to the Company considered it imprudent as the "Calcutta Sweep.". This year the total is expected to reach home country but were world wide

However, the premiums after only about half that amount. This in their extent and influence, it is deducting reinsurances and com- is due to the new regulations de-al. Ockenden, a native of Epsom, not surprising therefore that the revenue from some sections of the mission and an cnusually heavy signed to-limit the saleof tickets.

stum for returns in respect of 1922 Cu.'s business shows slight falling and previous years amount to off from the previous years figures. Special interest attaches to the report of the Life Department on this occasion as it contains the re-

sults of the quinquennial valuation which fell to be made on the 31st December, 1922, and below are appended a few extracts from the report itself.

to follow.

INTO A DITCH

MOTOR CYCLE ACCIDENT YESTERDAY.

Mr. Dunn of the American

There were some wonderful Express Company was riding scoring and at least one remarkable a motor-cycle along the Castle freak shot in the first day's play in Peak Road yesterday at the Daily Mail £1,000 golf tourna- about 3.30 p.m.. when he

another cycle

in front of him, in which were one ment on the Lytham and St. Annes noticed course at St. Annes-on-Sea.

Chinese male who was driving and two Chinese ladies, one in the side-car and one riding pillion. Near Ting Kau, he saw the other cycle swerve to the wrong side of the road and jump over a low bank into a ditch where it was overturned. He went to their help and found that all three were suffering from abrasions and shock, Ultimately he succeed- ed in getting them to hospital.

The feature of the day was a round of 58 by James Ockende, the young Raynes Park profession- has figured prominently in big golf in recent years, and it is predicted of him by shrewd judges that he is a future champion. Ockenden's 68 is a new record for the course.

During the play a curious ex-

hole he hit a mashie shot, and the

£68,848, and the claims including proved rates, and a fair amount of liberal provision for outstanding forward business in similar goods and contingent claims in is reported. At the same time the

to replacing costs of many well-Perience befell Aubrey Boomer, respect of 1921 amount

110,663; thus after the transfer of known chops are still 5 per cent. the French champion. At the 8th £10,000 to the profit and loss to 10 per cent. above local values; ball struck a bank a few yards in account, the Marine fund stands at and a large business Could

front and went straight up in the £146,683 at the close of the year.

have hoen found to bridge this air. Boomer looked round to see Finally on looking at the profit difference. Any hopes which

where it had dropped, when a and loss account the sums carried might have been entertained in from the various departmental this direction were doomed to dis spectator said, "It's in

pocket." There Boomer found it. accounts aggregate £120,348 as appointment after the Whitsuntide against £108,542 the previous year, holidays. The Manchester market A sum of £11,058 has been written opened with a firmer tone, and off feu-duties and a sum of £50,000 this coincided with an unfortunate carried to the general reserve fund.

your

There is precedent for Boomer's

freak. Playing to the second

The position, £178153 out of this sum the the order book.

TO-DAY'S ADVERTISEMENTS.

630 P.M.

NOTICE.

Hongkong. July 2, 1923.

(a) After a careful survey of the investments of the fund it was decided to write down feu-duties and ground rents by the sum of £24,305-9-3 and to apply the sum

LL Friends of the Ameritan of £150,000 in reduction of the real

Seen at St. Andrews, Homce Hut-, A Community are cordially in and heritable property owned by

drop in exchange, so that not many shoulder of R. Kirk, the secretary HONGKONG HOTEL GREL on JULY chison's ball landed on the vited to a THE DANSANT at the the Company. The amount at The balance at the accounts credit of the enquirers held up over the of St. Andrews Golf Club, and 4th, between the hours of 4 P.M. and which the Stock Exchange › securi=" ties appear in the Balance Sheet is on 31st December 1922 being week's holidays eventually reached jodged in bis breast pocket. less than the market valite accord-Directors have declared a payment therefore, remains substantially course of the West Herts club, one In a match at the Cassinbury Park ing to the prices ruling on 31st of an increased dividend of 45/- the same; buyers here are ready of the players made a drive from December, 1922.

per share subject to income tax, to operate, but we must see lower (b) There were in force on 31st and transferrett a sum of £10,000 to prices at home, or a better rate of the tee on a misty day and no one December last, 23,327 policies for the staff insurance and pension exchange, before trade can begin could tall, where the ball went. After prolonged search in all £12,033,946 including bonus addi- fund, leaving a balance of £132,502 in carnest. For the present dealers directions, it was discovered in the tions, after deduction of reassur to be carried forward, thus disclos-are wisely using great caution.

turn-up" of one of the legs of the ances, and 417 annuity contracts ing a most satisfactory position of The selling season for Blacks has guaranteeing annual payments of affairs with which to commence not yet arrived, but forward busi-player's trousers. He had carried £21,646.

ness in light Fancies for next the hole,

it in this position from the tee to the ensuing year's work.

Spring, especially Brocades and

Dr. Willing, the amateur cham- Lawns, is reported, and prospectspion of Oregon,with a 74,and Robert show an increase of 3,023 in rum- HONGKONG YARN MARKET. for this business are, on the whole A. Gardner, the captain of the her and of £2,649,066 in total sums

favourable. assured,

(c) As compared with figures at previous valuation, life assurances

(d) The average rate of interest earned, excluding reversions purchased, was £4-8-8 per cent af- ter deducting Income Tax, showing improvenient of zi8 per cent over the previous quinquenniun. The cost of management being 13.95 per cent as compared with 13.58 per cent for 1913-1917.

(e) The valuation discloses 4. surplus of £317,983 as undernoted, interest at the rate of 3% being as sumed throughout:-- Life fund as at 31 De-

cember 1922

£4.427,568 Less value of liabilities £ 4,109,585

Surplus £ 317,983

MARKED IMPROVEMENT.

Messrs. Polishwalla and Kotwall, Cotton and

Yarn

Scott.

As mentioned before, the Man-American team with a 75, took the chester market remains very firm, lead in a field of the leading ama in sympathy with Cotton; good Spot teur golfers now contesting the. St. George's Challenge Trophy at Middlings closed at 15.90 25 com Sandwich. Francis Quimet, also brokers, pared with 15-35 last month; mail of the American team, with a 75, report under date June 29-Since advices from Lancashire insist on shares third place honours with the our last report on 26th May by ss. the absence of a satisfactory leading British players, Roger Wakasa Maru" there was a mark-demand from the Overseas markets, Wethered and the Hon. Michael ed improvement in our yarn market and assert that any business is only owing to good inquiry from con- forced through after a lot of offer suming districts where steamiersing and counter-offering. At the under British flag were able to ply, same time they are bullish as rewho occupied the chair of Natural hence Chinese buyers have made gards cotton prices, and the general Philosophy at Aberdeen University large purchases during the interval opinion is that a steady trade is une for 42 years, died at Aberdeen. and a handsonic lot of 11,000 bales likely whilst the raw material is the in 10s. and 12s. counts changed object of so much speculation.~| hands with an advance of 53 to 6 British Chamber of Commerce per bale.

Journal (Shanghai.) Recent reports of advancing rates in India have further streng-

At this point it is interesting to thened our market and foreign

JAPAN METAL MARKET.

note that the total new life business holders are waiting for further rise. The stocks of various kinds of placed on the book of the and at the close our market has metals on the market being Caledonian during the quinquen-remained firm: T nium amount to £6,316,699, Unsold stock........... 13,000 bales abundant. the tone is weak and

£2,700,000 in excess of the corre Bargain in Chinese · sponding figure for the previous hands......

Arrivals from Bom-

bay s

7,000 J

6,000

quotations show a downward tendency.

to yarn. Owing

Copper. According to a tele-| five years.

gram to hand on June 13, elect- The surplus disclosed by the valuation exceeds all previous re-:

Shanghai reports-Show a heal-rolytic copper on the New York market was quoted at 15 cents, cords and has enabled the thier tone and rates have increased showing no change since the pre- Caledonian to carry a satisfactory Tis, 2 to 3 all round.

vious cable. It is calculated to sum to the shareholders' account, Japanese which is mentioned later in this re-higher prices ruling Japan including duty. In the Japan mar stand at Y49 for Kobe delivery view, and to raise the life policy foreign holders are withholding ket copper is quoted at Y48.80, so holders bonus in the ordinary their stocks for higher rates and that the quotation on the New classes of insurance to the sub-moderate business has passed York market has approached the stantial figure of 33/- per share. during the interval at an advance local market price, but on account

The Board also has allotted of $5 to 8 per bale as under special bonus of 10% per annum in Bales

300 Nagasaki respect of existing policies which were in force during the previous quinquennium ending 1917. Final-

3 Horses

200

1

No.

ly after allowing for the sum 1,000 Yellow Joss 20s applied to the reduction of feu-1 200 Setsu duties and house property and for

the transfer of shareholders' pro

او

19

portion of profit viz: '£29,401, the Raw Cotton.--No busincas of accumulated fund amounted at the importance luns passed during the end of 1922 to £4.398.167.

interval but prices have remained

of the recent slump, nobody has attempted to import from America. 205 $220/232 At the beginning of this year the 165 ❞ 210

stocks in Japan markets amounted 209 207/214

to: 12,000 to 13,000 tons. They 207/215 have since decreased to 4,000 tons 183/188

or so, but consumers have good 20$ 232

stocks in hand. Moreover, as Blue Fish 208 230

American copper tends downward, increase of purchases is ex- pected.

Zinc-On the London markef the quotation for zine stands at 198 or thereabouts and the market

Kobe the stocke“, „of "zinc" are unusually small, and the quotation stands at Y120 or so.

LeadAs Indian lead for for

declined, some anxiety is felt

In the Fire Insurance account, the firm as under: premiums show some reduction in Quotations. Bengal $40 to 45 per

amount, £78,856 less than the picul and Chinese $45 to 42 paremains active. In Osaka and previous year, due to general picul. stagnation of trade and the fall in

instrable values.go

This reduction in premium

affects the loss ratio to a consider

able extent, but this rate does not

PIECE GOODS

There has been greater activity ward delivery is reported to have

take into account the release of a during the past month, largely among merchants who have stocks portion of the unexpired risk owing to the Jappack hoycotta hand. The quotation stands at reserve. <3 P

Though a weapon of doubtful It is gratifying to find, however, value to those who use it. It has X550 for spot delivery that fu spite of the contraction in this instance undoubtedly benein The quotation for Indian revenue, the ratio of expense to fitted the importer here, and labeling reported to be lower, the premium income is lower than that consequence the shipper in Mur local market is inactive, the the previous year, being 389 as Chester, Stocks of Greys and rotation standing at Yaz--Japan

Chronic rainst 40.5.

Whites were sold at much im→

Professor Charles Niven, F.R.S.,

NOTICE.

AN OFFICIAL RECEPTI wil be held at the AMERICAN CONSULAT-GRINERAL DO WEDNES DAY, JULY 4th, from NOON to 1 P.M. in celebration of the NATIONAL HOLIDAY of the United States.

Hongkong, July 2, 1923.

TO SECRETARIES OF CLUES AND

- OTHER INSTITUTIONS.

coming meetings, lectures and ALL preliminary notices of forth. entertainments, sent for insertion in the news columns of the China Mail, are charged for at the rate of $1 each. las announced in May and June of 1922) providing that they do not future if this space is exceeded they Occupy more than four lines. In will be placed in the advertising

columas at the prevailing rates.

HOP CHEONG

HIGH GLASS FURNITURE MANUFACTURERS.

DEALERS IN

Swatow Hand-Made Drawn Thread Work New and Old Embroideries Silk, &c., &c, No. 55, Queen's Road Central, HONGKONG, CHINA,

0

HANDBAGS.

We have just received

a new range of

ringe

Handbags including

the very practical

"Lytup" Bag

SUNSHADES.

Lovely new designs

and colourings sulted

to all tastes,

LANE, CRAWFORD LTD.

FOR QUALITY AND STYLE.

NEW!

PORTABLE

COLUMBIA

GRAFONOLA

'CARRIED AS. EASILY AS

A HANDBAG"

CALL AND HEAR IT.

AT

ANDERSON'S

Sole Agents

Suzuki & Co..

SAKURA

BEER

Alexandra Buildings, Tel. Central 468 & 467

·

YE OLDE PRINTERIE, LTD. YE

COMMERCIAL PRINTERS, ACCOUNT BOUK MAKERS, Er.. '14 QUEEN'S ROAD, CENTRAL..

Tel Central 3707.

V. C. LABRUM, Managing Director

THE

ORDER FROM YOUR BOOKSELLER

CHINA YEAR BOOK

1923

EDITED BY H. G. W. WOODHEAD, C.B.E.

PRICE

$12,50

AN ENCYCLOPÆDIA OF INFORMATION REGARDING CHINA

ELOPERS, PAUSE!

BEFORE YOU,

MARRY IN

HASTE SEE

WHEN HUSBAND DECEIVE

0. B. BEER

PRODUCE OF MANILA

SUNCRUSH

ORANGE

UNEQUALLED IN QUALI

THE

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BOLE AGENTEE

COLTE

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TOL Central No. 188,

WINE