1924-05-23 — Page 5

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FRIDAY MAY 23, 1924

CANTON INSURANCE

*

OFFICE,

"ANNUAL MEETING.

DIFFICULTIES OVERCOME.

Mt. B. D. F. Brith presided at the annual nieuing this morning There were also present Messrs, H. P. Waite, A. S. Gabbay, T. E. Pearce (directory), F. C. Hall (Secretary) and the following shareholders: Hon. Chau Slu-ki, L. S. Greenhill, G. H. Piercy, He | Leung, Felix Ellis, S. E. Elis, Hu Foot, J. M. Alves, D. V. Steaven- son, Lo Cheung-shtu, Lu Man-hin, Chiki Shiu uam, A. H M da Silva, Lo Cheung-ip, f. F. Wright and

W. L. Leask.

MERCHANT'S DILEMMA.

ARRESTED WITH BAD 'COINS ON HIM.

ON WAY TO SHANGHAI,

"Li Chatiwo, described as the managing director of the Min Fut silk store in Canton, was discharge by Mr E. W. Hamliten at the Kowloon Magistracy this morning when brought up on a charge of being in possession of 78 counter frit doins- twenty cent pieces of Canton currency.

W3S Д

1D

RACE COURSE.

THE CHINA MAIL.

WILLIAM POWELL LTD.

SALES.

WATER UP TO THE RAILS SUBSTANTIAL INCREASE IN

TO-MORROW'S RACING

PROSPECTS.

THE ANNUAL MEETING.

HONGKONG FLOODS.

TWO. LANDSLIDEŚ REPORTED,

QUEEN'S ROAD SHOPS DAMAGED.

Mr. F. M. Crawford presided at this unorning it is generally hoped and there were also present: inches of rain were recorded at the With the change in the weather the annual meeting this morning, ended at 10.30 this morning, 5.81 During the twenty-four hours

that tomorrow's Empire Day race Messrs. M. Manuk, WA. Eustace, Observatory-in-Kowloon. The meeting under the auspices of the H. . Holt and the following highest figure for one hour is 1.74 Jockey Club will not have to be shareholders: S. J. Jordain, E. for the hour between 12.30 and postponed

Ainslie A. W. Avenall and H1.30 yesterday. Overy.

At the height of yesterday's we are fafurined, level with the ralustorm water was running, so top of the rails on the outside their usual hardihood the China Nevertheless with racing course, ponies were taken out for winding up gallops this morning, the work being confined to the inner (sand) track.

Prosecuting for the Police, Sub-Inspector Spear applied for permission to, amend the charge, the original charge stating that 99 Counterfeit coifis, were icund on CHAIRMAN'S SPEECH.

defendunt but 21 had been proved to be good. The Chairman said: The Ac Defendant, continued the ins, count for the year 1922, las proyed pector, was arrested on board the quite a satisfactory one and this in ss. "Kwong

lo town numours got going that Lee spite of the continuance of bad he

on which the Jockey Club might calf the trade, low rates and ever increas Canton

passenger from meeting off: One factor which Shanghal TAS ing competition. Again, however, coins were found

leant colour to this report was the 3:3 4 this year we show a very confin defend it's trunk and when course this morning and the fact parcel amounts of water standing on the siderable decrease in premium examined by a money-lender, were that a lot of mud had been carried income, that for the year now declared to be of złuc and copper. under review being $3,303,424.81 A Chinese detective told the we learn, is due to a drain in the on the racing track. The latter, A compared with $4,033,849.08 Court he found the colus while Cemetery being "choked, the mud for the year 1921, This continued searching the ship fur arms. thus being diverted on to the falling off in income is à disturb-

Representing the defendant, Mrcourse as was the case last year. ing factor and one that is exercis Armstrong said his client pleaded ing the minds of your General guilty of being in possession of Agents and Consulting Committee, the coins, but he had an excase. It is a coinperatively simple matter He Was asik merchant in to obtain business but where and Canton and dealt with a how to acquire bustness of a re- firm munerative nature is an entirely the defendant shipped goods to Shanghai. Last year different proposition. We are not Shanghai and received payment alone in this respect as the reports for them sin twenty-cent pieces of practically all Marine Insurance Ninety-nine of these coins appear Companies show that their incomes ed to defendant to be bad and as it are now back to a pre-war level, if was the custom for the Shanghal firm In this connection, it may not be defendant decided he would take to send down and change them, out of place for me to quate to you theor to Shanghai himself. i was an extract from an able article on while on the journey to Shanghai on the matter of marine rates that on the "Kwong Lee" that he was recently appeared in one of our arrested, leading shipping journals:-

..not rather worse.

Giving evidence, defendant bore out his solicitor's Statement and added that the coins were sent down by the Shanghai firm through a seaman oa the "Kwong Lee,"

He was discharged and the 21 good coins handed back to him.

Fortunately the heavy fall of Chairman's Speech,

rain has not been attended by any The Chairman sald:"

fatality. At this moming there The profit for the year ending Bowen Road near Magazine Gap was a landslide at that part of 29th February, 1924, including and the highway was obstructed forward from last year, amounts P. W. D. got to work at once and the amount of $6,988.09 brought for a time, to $62,296.38, and this your Direc-the debris was cleared without tors have allocated as follows:---. much trouble. To pay a Dividend of $2.

per share, on 21,000 shares fully paid up...$42,000.00 To place to Equaliza tion of Dividend Ac count

To write off Fixtures To pay a Bonus to Staff

and Fittings

5,000.00

Coolies from the

It is also lear that a landslida occurred in the vicinity of Tai Hang village. Causeway Bay, yesterday afternoon, but this was (not serious.

People coming in from the surrounding "country state tha it is too early to predict whether any 1,605.39 damage has been done to crops of 10 per cent. absorb-

but they expressed the opinion ing

that coming at this time of the year, the rice fields would welcome the To carry forward to

rain. credit of next account. 6,306.99 satisfactory

At any rate, a highly

7,324.00

which your Directors hope will anticipated. crop Was 'now meet with your approval.

During the year under review

CHOICE ENGLISH

FRUIT.

(WHOLE)

#

IN THICK SYRUP.

CHIVERS BLACK CURRANTS

BLACKBERRIES

GOOSEBERRIES

RASPBERRIES

For tin

$1.40

.90

.95

1.55

1.20

1:00

VICTORIA PLUMS

1,20

GREENGAGES

1,00

STRAWBERRIES

RED PLUMS

DAMSONS

TELEPHONE 4537 (4 lines)

LANE, CRAWFORD LTD.

After tiffin in Queen's Road | 39 IN Central opposite the Queen's

water. entering

Up to tiff time no decision had been made but the prospects were good. The mud was being cleared and was not likely to prove an obstacle. Water was still standing. going down visibly. Except for being able to acquire the site and were busy preventing an on parts of the course but was your Directors were fortunate in Theatre yesterday, shopkeepers the turn between the three-quarter building which we now occupy, at cumulation of mile and five furlong posts, there what they considered a reasonable their premises. Some of them had was no part which had become a figure, thus assuring us a perman-profited by the experience of last swamp. It was also stated that some ent home which, you will all agree, summer's deluge and had made of the club's stewards were to visit is a very desirable asset, especially preparations accordingly. Most to-day and that a meeting would Turning to the accounts you will alterations in the road level and the coure during the offin hour to a retail firm such as ours.

of then attribute to the swamping be held afterwards.

of that part of Queen's Road to the Mail has been informed that if see that against this asset there the narrowing of the side channels.

The China is found impossible to hold the This mortgage, however, has now stands at mortgage $858,000.00. faces, an "express would be circulated to-morrow morning,

been very considerably reduced by that the Jockey Club was going to was authorised by your Directors, From another source we learn the new issue of capital, which hold the inceting and some of the and made on 1st March 1924. owners were going to get their candidates re-siiod.

"

it

The stocks of the Company are held absolutely clean and have, in every case where necessary, been reduced to replacement cost.'

Tabaqueria Filipina but the staff Six inches of water entered the succeeded in getting most of and the damage was not more perishable goods out of the way

than $200 or so. A two-foot board caulked up with wax saved the premises of Cheong Woo, jewellers. No water got in there but next door, at Messrs. W. Assomull's,

With regard to the important question of premium it may be said that, broadly speaking, the conditions which prevailed in 1921 and 1922 continued during the whole of the past year, and rates, whenever altered, have without exception tended downwards, and at the morieni

The substantial increase in cash of writing have attained a figure answer, to the best of my ability,

sales shown in our Men's Outfit below which a prudeit under any questions arising out of, the

ting Department, has proved the

ing. I in the near future tosses wish to put, after the Accounts which races their mounts will be sent prominent situation next to pletely removed by then. In the writer will abstain from ventur. Accounts which shareholders may owners and trainers do not know wisdom of the removal to our pre-

The duly started in.

weather had the main entrance of the Hong-

and casualties occur with the same frequency in proportion

to the bulk at risk) as they did in years immediately preceding the war, tinderwriters will, I

Tips For The Races.

(BY" PATROL")

At the time of writing,

even

a

couple of inches or SO got beyond the barriers. At Loong Shing, another jeweller, the stock had almost been con the water reached five inches but

premises of the China Drawn

fear, discover that they have as presented, including the pay- that if the sun keeps shining the favourably commented upon, and eight inches above the floor level

the

yet

have

themselves have been seconded.

done its level best 10 up kong Hotel. The rearrangement Work Co., there were several in- I now propose the following re-

set the final training arrange of the various departments in our ches of water standing. Here the solution,

ments and it has all but entirely Main Building has been very raising of showcases to about That the Report and Accounts, succeeded. There is a prospect

we feel sure customers will appre-prevented any damage. dividend grass course may

going will not be nearly as heavy our present policy of giving the a part of Queen's Road West, not

Chinatown Cataracts. year recovered to that extent when the clate the better service, we can

now offer them. By maintaining A visitor from Canton described as anticipated yesterday. On the other hand, it is difficult to re-

utmost value in all departments far from the lower entrance to the concile the hope that the turf will we look forward to a steady in-Government Civil Hospital, as not cap up, with dus week's crease in business, which we trust somewhat akin to parts of the abnormal showers.

will enable us to maintain the very West River he had seen in the Taking all aspects into con-satisfactory dividend which we early stages of a flood season. sideration, my selections are as have paid for years past.

Rapids," that was the term he follows:-

Eefore concluding, I desire to fused, were pouring down Holly First Race, "B" Class, six fur thank the Managing Directors and wood Road into its junction with longs:-1 King Alfred; 2 Gaudie; Staff for their services during the Queen's Road West and shooting up 3 Langsat.

past year, as it is largely due to two or three feet high against the their efforts that the results before you have been obtained; and I am confident that the bonus we propose to grant to the staff will meet with your approval."

been providing insurance conne u!

final ม siderably below cost price,"

of respect Although there is no cause for 1922 of $22 per share, and an pessimism, I think you will ap-interini dividend in respect of the preciate from what I have just said year 1923 of $18 per share; the that we have our troubles and addition of £25,000 to Sterling difficulties like everyone else in Reserve Fund, of $250.000 to these lean times

Reinsurance Fund and $503,072,8; Although the Accounts show de to Underwriting Suspense Acconat creates in premium Income and be adopted and passed.".. interest for the year 1922 of Mr. Ho Hook seconded and the $730,424.27 and $22,512.28 respec- accounts and balance sheet were tively, it will be seen that the passed nanimously, result after 24 months' working

Other Busin 183, is some $15,000 better than The following were re-elected as that for the year 1921, the Consulting Committee on the the reason for this being the much proposition of the Hon. Mr. Chan improved loss ratio of $4.99% as Sul-ki, secunded by Mr Lo Cheng- compared with 63 54%.

shiu- Working Account for the year The Hon. Sir Paul Chater, CMIG, 1423 after 12 months' working also A. H. Compton, Esq., A.S. Gubbay, shows a fall in premium income of Esq. Sir Robert Ho Tung, approximately $450,000 and the H. Huaphreys, Esq., T. E. Pearce; balance of $2,120,923.93 corried Esq, H. P. White, Esq, and the forward is consequently less by Chairman

$231,451.78 than that for the year! Messrs. A. R. Lowe and 1922 at the same period. This Hennessey. Seth' were re-elected account has yet far to go, but we auditors at a renumeration of $750 SEO no present reason to fear that each on the proposition of Mr the ultimate result will be other L S. Greunhill, seconded by wise than well up to the standard Mr. D. V. Steavenson. of its predecessors.

Our Assets, as expressed in Sterling, stand at a higher figure by £82,000 than a year ago and, as expressed in local currency, they show an increase of over $285,000. The satisfactory state of the various. Reserves at 31st December 1922 has been more than maintained.

The surplus to be dealt with is $1,368,310 45 out of which has been paid an interin dividend of $18 per share. We now recommend the payment of a final dividend of $22, the addition of £25,000 to Sterling Reserve Fund, of $250,000 to Reinsurance Fund and the carrying of the balance of $503,072.81 to Underwriting Suspense Account to close the Year 1922. The balance $2,120,923.63 at credit of 1923 Account allows of the payment of the usual-Intarim Dividend of $18 for that year.

of

During the past year losses hive been below the normal and there have been none of outstanding magnitude. This does not, af course, include the Earthquake in Japan of last September. or the Typhoon of exceptional violence which visited Hongkong on the 18th August. Although seven months have elapsed since the first disaster occurred, the sum of loss is yet far from complete owing to the enormous task of ascertaining the selative liability attaching to fire and marine insurance. In these two calamities, our lossses, though! naturally considerable, were no more than we might reasonably expect and much less than we at £rst anticipated.

'+

I do not think there is anything father, that calls for special -Tulorence, but I shall be pleased to

Second Race, Colonial Stakes, five furlongsi Golden Jubilee; Uncle George, a place,

Third Race."A' Class, six Furlongs-Edenhall'; z Benz,

Fourth Race, Aggregate Stakes,

mile Fern Leaf; 2 Rollie- y3 Valiant Dahlia. Fifth Race, Selling Plate, one

ile:

White Rose.

Sixth Race, "B" Class, 1.1/4 niles: +1 King Altred.

Seventh Race, "A" Class, 1.1/4 miles:-1 Kupi: 2 Spotted Sand;

Grey Dragon. Eighth Race, Match miles: Loch Rannoch.

1.14)

On enquiry at Government House, the China Mall was informed that His Excellency the Governor is going on satis- factorily. It is hoped that Illa Excellency will be able to atten to business on Monday or Tusaday nIKAS

opposite pavement yesterday after-j noon One granite boulder of about three cubic feet was carried right down the incline to the side- channel where it reposed against

that the report and accounts as on it were continually washed off I now beg to formally propose street urchins who tried to stand an electric standard. A crowd of

presented (including the appor-although they hung on to the tionment recommended by the standard. į he obliged if some shareholder will of water at the corner of Queen's Directors) be adopted, and I shall There were at least six inches kindly second this proposal where- Street and Queen's Road West upon. questions as to the report and ricshas could only get round and accounts may be raised. the turn with the greatest of

Mr. Jordain seconded, the adop-difficulty. tion of the report which was car- ried unanimously.

The Race Course witch became

a wilderness of mud after last year's deluge also came in for its share yesterday. Elsewhere in this issue is an article on the races, we give the account.

Other Business. Mr. R. L. Bridger was re-elected director on the proposition of Mr. Ainslie, seconded, by Mr. Overy.

The golf course at Happy Valley Mesars. Percy Smith, Seth and Fleming were re-elected auditors is in a boggy state and it is doubt- at a remuneration of 8600 on the over the week end. It needs muny ful whether It will be playable proposition of Mr. Jordain, second- hours of strong sunshine before ed by Mr. Avenall.

the course will ever be in a tolerably dry condition.

CANTON PARS.

GENERAL ASSUMES OFFICE.

DR. SUN TO RECUPERATE?

(From Our Own Correspondent.)

NEW SHIPPING LINE?

}

NO INSTRUCTIONS RECEIVED AT HONGKONG.

No

instructions have been issued to ahipa' officers in Hong- kong with regard to an assisted CANTON, May 22. six weeks' service to Hongkong To-day Genera! Heu Shung-cht and Shanghai from Sydney, Mel- formally accepted office As bourne, Adelaide and Freemantle. commander-in-chief of the Can- The manager of the local office tonese forcas In Kwanglung of the Ellerman and Bucknall Line province. Representatives of the (the fathers of the scheme) in- various armies, students and other induential hed not been aware of the negotia- merchants, formed our representative that he bodies were present and General tions until he saw the report from Hsu publicly professed his un- Melbourne in the China Mail. He swerving loyalty to Generalissimo

Sun Yat-sen. He stated that his thought the scheme a good one object would be to unite the but added that it was cyident that Cantonese for the benefit of their rothing definite had been decided. home province."

The whole scheme for a subsidy Civil Governor Yang Shikum is was only a proposal to the Austra reported as having asked for leave lian Government. to-proceed to Shanghal but it is not (The proposal-is-that-the Aus known If his request has been tralian Government should grant acceded to

a subsidy to all steamers of this Some of the vernacular papers, particular line with refrigerated report the likelihood of Dr. Sen space trading direct between Aus Yat-sen proceeding to the White tralia and China in order to pro Cloud Mountains for a brief stay vide a further outlet for Aus- to recuperato,

tralia's products 1

ENGLISH RECORDS

INDIAN LOVE LYRICS

Li

(1) THE TEMPLE BELLS..... 1664 (2) LESS THAN THE DUST

1665 (3) TILL I AWAKE

(3) THE KASHMIRI SONG

SUNG BY EDGAR COYLE, BARITONE. PURE MUSIC-NO SCRATCH

AT

ANDERSON'S OOOHENONCHODOCHONONOČ

LAVENDER SCENTED AMMONIA FOR THE BATH.

OLEANSING AND INVIGORATING A SUMMER NECESSITY

Large size 80 cents. Small size 60 cents.

THE CHINA DISPENSARY. 82, QUEEN'S ROAD CENTRAL,

GREEN ISLAND CEMENT CO., LTD.'

BEST PORTLAND CEMENT

SHEWAN, TOMES &

General Managers.

HONGKONG,

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O. B. BEER

PRODUCE OF MANILA

$

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Tel: Cuitral No. 136.

No. 5, QUEEN'S ROAD CENTRAL,

HONGKONG