1924-04-26 — Page 11

SATURDAY APRIL 26 1924

LAMPORT AND HOLT. with the object of conserving our resources to the utmost. I may misation that dopreciation at the UNFAVOURABLE YEAR FOR rate 5 per cent, per annum on the first cost of the fleet has been written off.

THE FLEET.

SHIPPING,

UNITED STATIS

COMPETITION.

The annual general meeting of

Lamport and Holt Limited was held.

With the object of bringing the fleat fully abreast of the times and providing adequately for the pre- at 36. Lime-street, London, EC., shippers and the travelling public, sent-day requirements both of our Lord Kylsant. G.C.M.G.(chairman the board, at the conclusion of the and managing director), presiding. war, entered upon a shipbuilding The Secretary (Mr. W programme which has now been Moynihan) having read the notice completed with the delivery of convening the meeting and the the splendidly, appointed pas- report of the auditors,

songer steamer, Votaire." This

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THE CHINA MAIL.

no alternative but to look for a

GREAT NORTH-WEST,

FINE OPEN AIR FILM AT CORONET.

amicably with the United States that there are at present abundant Shipping, Board, and we hope resources out of which shipping that such arrangements may be can pay higher. .wages. all possible between us as will secure round is one that has no to each of the interests concerned foundation in fact. Increases in their fair share of the trade, operating expenses -- including combined with reasonable and fuel and wages-must, loovitably remunerative rates and conditions. add to the cost of conveyance of

Canada's great North-West, with SOUTH AMERICA.

necessaries, and thereby increase its wide; open spaces, has always the price of goods and food. The been a fertile field for the nove Whether from this country or level of freights is now very little list, but it has not been every our progress and prosperity, as in the cost of working steamers is from the United States of America, higher than in pre-war days, but writer who has caught the glamour the case of so many British houses, vastly greator. The tride of the James Oliver Carwood whose ace chiefly dependent on

of this mmantic region so well as development and destiny of the of improvement, and I hope we

the country is beginning to show signs Nomads of the North great South American Republics, may see a general revival of tradeTheatre this afternoon. Good as comes as South

a feature film to the Coronet America, although only before very long, as this would the book is, however, the picture The Chairman said: Gentlemen. vessel has taken up her station in partially involved in the world tend to raise rates to a paylasis

after effects, which constituted a war suffered severely fron its level. Otherwise, there may be having spared neither trouble nor evog better, the producer

economic progress. These great penses in order to make ends meet playing wild animals in some of" serious setback to its material and further reduction in operating exscenic effects. Apart from em expense to get the very finost Republics, baing producers and exporters on a vast scale of pri

the scenes-one exciting incident mary food-stuffs, have, by rea-

is a deadly fight between d power of their customers abroad, son of the reduced purchasing this country during 1923 w

The cast of our coil supplies in

man and a bear he has actually found their oversea markets re-miterially higher than in 1922. give the picture its greatest thrill. had a real forest fire heranged to Cheap coal and cheap oil are stricted and depressed. The revival í

The story, as might be expected America mast, therefore, to a great merce, so I hope that before long is fascinating; and the acting is all of permanent prosperity in South essential to prosperity in con- coming from Curwood's clever pen, we may see coil at a substrátily, that could be desired, accompil- extent hinge upon European re lower price. In this connecti Ished players like Lon Chaney, however, there are welcome signs the threatened strike in the co! taking the leading roles. covery. In South America itself, trust that the negotiatlo is to avert Betty Blythe and Lewis Stone of general Improvement, and, trade my result in a settlement scree sing, too, is-but what need coupled with a magnificent harvest otherwise a grave additional set- in Argentina, the outlook there is back to the slowly reviving tride

to dilate upon the merits of the better thin it has been for some and industry of the entry will

picture when most cinema-goers This is reflected in the ensue. years past.

to know that it is good will only more satisfactory financial condi- Mr. Caorge H. Melly and Mr.imprint of that fine concern, need to be told that it hears the

for seventy-nine years this old- the company's New York South established business, has carried America service. on ocean services with the South policy pursued by the board of I hope that the American Continent, and the re-constructing and putting these port and accounts which you have fine new vessels on this route will hefore you set out the present be justified by an increasing position of the company. Whilst volume of traffic. It cannot he claimed that the costs of forty-seven ocean-going Our fleet now record for the past year is as vessels, aggregating over 300,000 favourable as we should have lik-tons gross register. ed it to be, it must be borac in year three of the older steamers mind that 1923 was certainly one were sold, notwithstanding which of the worst years experienced the total

gross tonnage of by British steamship owners, and the fleet is still slightly in excess undoubtedly, as regards the ocean

of that of the previous year rontes in which this company is specially interested, it was much Hess favourable than the previous

a

as to the

moderate dividend ол

During the

SERVICES MAINTAINED,

Throughout the year we fully period under review. This need maintained our regular services not, however, give rise to dis- between the United Kingdom and quietude

strength the Continent and South America of the company's financial position, and between the United States which has been attained through and South America, as well as our the conservative policy adopted in service between Manchester and past years, to which I referred New York. Although, as I have when last had the privilege of already mentioned, the trade, in addressing you, and which, in the which this company is interested i opinion of the board, justifies us were depressed daring 1923, the in recommending the payment of number of our steamers fald up the was considerably less the pre- Ordinary shares at the rate of four viously, as it was necessary to per cent. per annum, less income provide, tonnage to protect our tax. We have withdrawn a sum regular interests. from reserve account-which will then still stand at £600,000-and after payment of the dividends on the Preference and Ordinary shares, the balance of £103.356 I observe that the announcement of nur baving draw upon reserves bus not been received in some quarters without a little criticism, but whilst I agree that this could not go on interminably, I any point out that the reserves have been built up for the specific purpose of enabling us in good and bad times. to which shipping is peculiarly subject, to maintain as farkas possible regular, although moderate, return of the capital of the company in pursinnce of the policy to which I have referred, in accordance with which we shall naturally add to the reserve again sand when opportunity occurs,

will be carried forward.

25

tions now prevailing in South America.

CURRENT YEAR'S PROSPECTS. With regard to the prospects for the present year, whilst we are glad to observe the slight in prove neat to which I have referred. we regret that this advantage is to son extent set off by the recent advice in laboar costs in this The Limport and Holt Line was

country. A good deal of public the pioneer in establishing the misieprehension and, misinder. stainship trade between New standing exists on the subject of York and Brazil and Argentina. | shipping profits, For sque line We have carried on this important past shipowners have seldou been service regularly without a break able to se ad their vessels on any for over half-a-century, and several voyage with a definite prospect of our finest and largest passenger of earning much more thin work- and cargo steamers are employed ing expenses. In many cases they on this route. Whilst we recognise have hd to face the almost the desire of our friends in the practical certainty of loss on the United States to participate in the voyage. Consequently, it is the ozeaucarrying tride between their older established companies which ports and those countries with whom have followed a they have commercial relations, we financial policy in the pist that feel that consideration is dos to us have bari bait able to stand the on the ground of our long and strain. It is only by the most intimate association" with this rigid economy in all departments trade, and also because the that shipɔë vers hive been able to Limport and Holt Line had done carry on, and to keep a larger so nich to develop commerce

number of ste vunts in co u nission between the United States and instead of letting then ran hid South America. It is, and always with result enn oy neat has bean, our policy to work for numbers of non. Ta idey

conservative

+ }

COST OF FUEL

First National,

The

the same are hereby received and the Ordinary shares of 4 per cent. adopted, and that a dividend on

per annuu. less income-tax, for

the year ended December 31, 1923, be and the same is hereby de- clared."

Viscount Pirrie, K.P., P.C., was carried unanimously. seconded the resolution, which

f Arthur Coak who have occupied. the position of managing directors since the incorporation of the company, and were for many years previously closely associated with that position. I wish to ttke this its business, have retired from opportunity of expressing our appreciation of the valuable work these gentlemen have done for the will still be members of our board, company. I am glad to see they

the benefit of their advice and long so that we shall continue to have experience in conducting the Con- appointed Mr. Alfred Woods, pany operations, The board hive formerly London manager, who the company's business for many has been actively connected with years, to be general manager of the company. I should like to place on record my appreciation of the good work of all the officials and home or abroad, on shore, or at staff of the company, whether at

is passing through a trying period, sea. The company has been, and and it is essential that our entire to promote the prosperity of busi-appointed, on the proposition of personnel should do their utmost

ness. Inow beg to move: "That the submitted to this meeting be and report of the board and the accounts

The chairman then proposed the Melly, the retiring director. He re-electloa of Mr. George H. regretted to say that Mr. Melly hid some Hitle not been in very good health for

time. past, and he was now recuperating in the South of Frince. His colleagues on the hoard hoped to see his bick within a month, qulte restored to his usual good health. Viscount Pirrie seconded the animously, motion, which was passed 11.

The anditors, Messrs. Price, Waterhouse, and Co., were re-

Mr. D. I Conradi, seconded by proceedings then terminated. Mr. Picton H. Jones, and the

TAKAYEN

11

You Must Fight

The film on teeth, or you may suffer

Under old brushing methods, few escaped tooth troubles. Beat tiful teeth were selesa often than DOW.

In fact, tooth troubles constantly increased became alarming in ex- tent. That's what led to this new method, which has brought to mil llon a new dental era.

Those dingy costs

The viscous film you feel on teeth is their chici enemy. It cling! to teeth, enters crevices and stays, Food stains, etc. discolor it. Then It forms dingy, Coats. Tartar is based on film, That's why teeth lose luster.

Film also holds food substance which formente

Able authorities proved these methods #feétive. Then a bew type toothpaste was created, based on modem research. These two great film combatants were exe bodied in it.

The name of that tooth paste is Pepsodent, which leading dentists. of some 50 nations are advising

now.

ན་

Fights scïda, too

Pepsodent also multiple the alkalinity of the saliva. That is

Protect the Enamel Pepsodent disintegrates the film, then removes it with a agent far soler than enamel. Never use film combatant which contains harsh, grit.

and forms acids. It holds the acids in contact with the teeth to cause decay, Germs breed by millions in it. They, with tartar, are the chief cause of pyonthes. Thus mott tooth troubles are now traced to film

Almost universal Film-coated teeth were almost universal. The ordinary tooth paste could not effectively combat Him. So dental science set out to find effective film combatants.

Two methods were developed. One acts to curdle film, one to re- move it, without any harrufui scouring.

there to neutralise mouth acids, th cause of tooth de

multiplies the starch digestant in the saliva. That is there to digest starch deposit which may other

wise ferment and form selds.

Thus every use gives manifold power to these great tooth-pro- tecting agents," That was not done before,

For beauty's sake People who see the Pepsodent effects will always use it, If only for beauty's sake.

Note how clean the teeth fool after using. Mark the absence of the viscous film See how teeth whiten as the film-coats disap-

pear,

This test will be a delightful revelation.

Pepsodent

The New-Day Dentifrice

A scientific film combatant, which whitens, cleans and protects the teeth without the use of harmful grit. Now advised by leading dentists the world over. On salt in two sizes everywhere.

BOLI AGENTS FOR HONGKONG AND SOUTH CHINA

..KERN & CO.

F. O, Box 163

HONGKONG

QUEEN'S THEATRE

LARGEST, COOLEST, AND MOST COMFORTABLE,

MOVING PICTURE

Best Music.

PICTURE HOUSE

IN THE FAR EAST.

OPENING

Best Entertainment.

CEREMONY

on 1st. of

MAY.