1929-06-03 — Page 4

NY-KUNE

THROUGH BOOKING TO EUROPE AT REDUCED RATES, £120, £112, £110 £102, £83, via San Francisco. £95, 590 108. via Japan and Seattle.

SAN FRANCISCO via Shanghai, Japan Ports & Honolulu.

TENYO MARU

-SHINYO MARU

SHIDZUOKA MARU

Wednesday, 12th June. Wednesday, 30th July.

SEATTLE, VICTORIA via Shanghai & Japan Ports.

YOKOHAMA MABU

Monday, 17th June. Monday, 1st July. LONDON, MARSEILLES, ANTWERP, ROTTERDAM via

Singapore, Penang, Colombo, Suez.

ATSUTA MARU

Saturday, 15th June. SYDNEY & MELBOURNE via Manila & Porta

'TANGO MARU

Wednesday,

AKI MARU

Wednesday,

26th June.

24th July.

Tuesday. 11th June, Thursday, 7th June.

BOMBAY via Singapore, Penang, & Colombo,

SADO MARU

TOTTORI MARU

THE CHINA MAIL,

SHIPPING

MARINE INSURANCE

INCREASE IN NET PREMIUMS OF WELL-KNOWN COMPANY SATISFACTORY RESULTS

Mr. A.

The Chairman, Eccles, in moving the adoption of the report, accounts, and balance sheet of the Company for the year ending December 31, 1928, sald

SECTION.

HOME SHIPPING UNABLE TO BEAR ANY FURTHER BURDENS?

Was

country, and during last summer we carried out two eruins from Glasgow with the steamer "Assyria." The re- eults were such is satisfy us that there was a considerable demand for such facilities in our own home port, And we have decided to employ the saine vessel on the cruises from Glasgow during the ensuing year.

Another feature of interest to which I may direct your attention is that we have decided to

make a special effort to cater for the cabin and third class tourist travel on our Atlantic route by running the "Cali-

fornia" and "Camaronia" in the future AS "Cabin, tourist and third

from the directors'

class" steamers. Your directors are SIR T. ROYDEN'S WARNING

confident that the great and increas ing demand

and tourist for abin The fifty-seventh annual ordinary The thirty-first ordinary general third accommodation which is being of the Anchor Tine evinced by the travelling public will meeting of the shareholders was held meeting in the Boardroom of The London and (Henderson Brothers), Limited,.

ensure satisfactory results from the Lancashire Insurance Company, held in the offices of the company, adoption of this policy. I may say

14, St. Vincent-place,

Gasgow, Sir that already our bookings are so en- Limited.

of the to satisfy us Percy Thos. Royden, Bart, C.H. (chairman couraging as

of directors) presiding, and the other wisdain of the step which has been

taken. directors present were-Mr. A. C. F. and (deputy-chairman

You will see Henderson managing director), Sir J. Frederick report that Mr. John Binnie, who N. Graham, Bart., Mr. Robert Clark, has been in our employment for 41 Sir David McCowan, D., with Mr.

years, and who has acted as secre- A. J. P. Henderson (joint manager) tary of the company since 1921, has were Mr. of health, to resign his position with and Mr. John Binnie (secretary). found it necessary, owing to reasons The shareholders present

Cunningham, Mr. James

James the company. We have accepted Mr. Leslie, Mr. A. Glynn, and Mr. G. Binnie's resignation with deep regret, Wallace.

and on your behalf, as on my own, I would convey to him our appreetu- tion of his long period of loyal ser vice, and our wish that he may enjoy many happy years of leisure. Hear, hear.)

SOUTH AMERICA (West Coast) via Japan, Honolulu, Los Angeles, in your hands for some days, i pre-

Mexico & Panama.

ANYO MARU

Tuesday, 9th July. SOUTH AMERICA (East Coast) via Singapore, Cape Town & Ports,

Friday, 7th Juce. WAKASA MARU

Wednesday, 19th June. LIVERPOOL via Port Said, Geneva, Marseilles.

Saturday, 1511 June. DAKAR MARU

NEW YORK vin PANAMA,

↑ TAKETOYO MARU

CALCUTTA via Singapore, Penang & Rangoon.

+ MURORAN MARU

+ MORIOKA MARU

SHANGHAI, KOBE & YOKOHAMA.

Saturday, 8th June. Saturday, 15th June.

6th June Monday, 10th June. Friday, 14th June.

↑ RANGOON MARU (Moji direct Wednesday, SUWA MARI

BINGO MARU (Kobe direct)

+Cargo only.

Reduced ist Class Excursion Rates quoted between Manila and Australia

For further information apply to NIPPON YUSEN KAISHA. Tel. Central. No. 292 and 3897.

(Private exchange to all departments.)

O. S. K.

SAILINGS FROM HONG KONG SUBJECT TO ALTERATION,

LONDON,

HAMBURG,

BOMBAY Via Singapore & Colombo,

Thursday, 27th June.

SHINNOH MARU (Calls at Karachi) Monday, SUMATRA MARU

3rd June. Wednesday, 19th June.

DURBAN, LOURENCO MARQUES, BEIRA, DAR-ES-SALAAM, ZANZIBAR

& MOMBASA-Via Singapore & Colombo. CALCUTTA-Vis Singapore, Penang & Rangoon,

CELEBES MARU

*

• VICTORIA, SEATTLE, TACOMA & VANCOUVER, Via Japan Ports from

Shanghai.

Tresday, 18th June.

Monday, 10th June,

Tuesday, 18th June.

The report, accounts, and balance sheet of the Company for the year ended December 31 last, having been sume that we may adopt the usual course and take them as having been read.

fool sure you will be gratified that we again show a satisfactory re- sult of our operations during the year 1928.

The net premiums written amount- ed to $625,874, representing an in- The £78,970 over 1927. crease of claima paid, with full provision for all outstandings, amounted to £447,348, and the expenses to £87,119. After making our usunt reserve of 40 per cent. for unexpired ability. year's working is the profit on the £79,320.

The secretary, read the notice con- vening the meeting and the auditors' certificate.

The report and accounts were taken as read.

The

it Chairman.Gentlemen, affords me pleasure to move the adop tion of the directors' report and of the accounts of the company for the year ended December 9, 1928.

Before making a formal motion to this effect I should like to take the opportunity of commenting on the trend of да you

Most marine, corapanies, know, are now only closing the 1927 account, and I have the impression that the results for that year will prove unsatisfactory to many of the companies, as those accounts publish ed so date give in the aggregate a 10.3 per cent. loss on a premium in- come of over one and a half millions aterling.

them.

ཐ

The Balance-Sheet To turn now to the balance-sheet, you will see that on the debit side the subscribed capital and reserve fund are the same as last year.

to

our

PACIFIC

MONDAY, JUNE 3, 1929.

to EUROPE

U

via CANADA

UNDER ONE MANAGEMENT

SE the Canadian Pacific Route to Europe and dispose of all the troublesome details that usually- arise out of a 10,000 mile overseas journey.

When you travel Canadian Pacific there is only one transaction the initial one between our agent and you. Your trip across the Pacific, across Canada, and across the Atlantic is made on Canadian Pacific ships and trains; your stopovers at Canadian Pacific hotels.

One ticket One service

J

The utmost in speed and comfort.

CANADIAN PACIFIC

WORLD'S

Next sailing to the Pacific Coast EMPRESS OF FRANCE

At Noon-June 5th.

GREATEST TRAVEL SYSTEM

BRITISH WUCHOW LINE

The amount standing to our debit ou account of the Trade Facilities Loan has been reduced by £160,000, of business during the year. The depression in freight and the item of balances on current and open accounts is less by rough- markets, if somewhat relieved at ly £280,000, which is chiefly attribut- short intervals, has nevertheless per- able to a reduction in our shipbuild- sisted in the company's main trades

billa amounting to $190,000. The since I addressed you twelve months total reduction respect of ago. A company like our own, Fun Trade Facilities Loan and of our ning services of modern and expen- shipbuilding bills is thus £350,000, sive passenger

and cargo steamers, which you will dubtless regard as cannot attain even moderately suc- constituting &

a very satisfactory re- The increase in our own net pre-cessful results unless the cargo car-duction in our outstanding liabilities.

ried contribute their adequate quota miums, which have mentioned, is

On the credit side, the book value partly accounted for by a

to the total revenue of each year. more liberal participation

of the company's fleet, &c., stands in certain sec-

A great deal of attention has been at $4,349,154, which figure is reach- directed during recent years to the tions of hull business, and by some

ed after writing off in respect of de- depressed conditions of some of our preciation the sum of £266,626. expansion in our foreign agency cargo

main industries, and attempts have

The cash business.

in hand shows a con- As I pointed

the out last year,

been and are being made by means siderable reduction on the figure of rates for hull business bave been im- of safeguarding, de-rating and other the e preceding year, as a result main- proved by concerted action amongst devicus to put increased vitality intely of the large capital repayments to

which ROTTERDAM & ANTWERP_Vis Singapore underwriters, and our time account,

I have already referred. The shipping trade has probably Colombo, Suez and Port Said.

which previously was negligible, has

The small increase which is shown Sunday, 9th June.

The ro been cautiously increased.

suffered from the depressed stake of ANDES MARU .....

the credit of profit and loss ac- the world's markets during the last count is at least in the right diree- RIO DE JANEIRO, SANTOS & BUENOS AIRES-Via Saigon, Singapore.

sults, so far, have been satisfactory,

regarded as not! and the expansion has been justified. six or seven years as keenly, if not tion, and may be Colombo, Durban & Cape TowR.

That, however, is not to say that

even more keenly, than any other of altogether unsatisfactory, having the MANILA MARU

A new economical way to opend a OOF leading national rates for hul business generally are

Industries. regard to the period of acute depres-short summer holiday. Take a trip to Largé liner companies like our owe sion under which the maritime trade Wuch w End on a profitable basis; there is still

back. Only requires have suffered in need for close co-operation amongat

a very special de of the country has suffered.

four laya. See all the sights of the underwriters to not

gree from the period of bad enly maintain,

tradę, I would like to

take this oppor-West River. It costs you only $28.40 but to extend the agreement already and we can only hope that a steady tunity of conveying to our manage and can be done in five days. Your

and permanent increase .in in forec.

thement and staffs whore and afloat our budget:- volume of traffic accompanied by considerably higher level of freight eficient service. (Hear, hear.) It is high appreciation of their loyal and rates will yet provide us with some largely due to their efforts that our

large company is

able in face of intensified amount of capital invested in our competition and most depressing trade conditions, to show as satis- No Farther: Burdens

results

Why not make a trial? The cuisine are contained in factory It has never been

is excellent and the accommodation the custom of the balance-sheet with which I have shipowners to

comfortable; once you try you will re- ask for assistance just been dealing. from the Government or public au- Before formally moving the adop-commend it to others. thorities in pursuing their business. tion of the report and accounts, I and they are not doing 30 now. I will be very pleased to answer to should like,

nevertheless, to

em the best of my ability any questions not able to bear any further burdens, phasise that the shipping trade is which any shareholder may desire to and I would deprecate strongly to

put. ther them. Any proposals of this kind beg are not conceived. I think, in the best interests of the country's trade. the company's passen- interest on investments amounting to

ger business is concerned, I think we £45,949. After deducting income tax

can be fairly well satisfied with the on profits, there is an aggregate

results both in the American and amount of £308,069 to be dealt with.

Indian trades. The intensive com- It is proposed to pay the same divi-

p which we ara beine aub- dend a

as last

year, viz. 649. per

will absorb fected all sides calls for the ut share, less tax, which £04,000, and to carry forward the balance of £244,669,

It happens that

Barnes is Mr. absent to

in America on important busi- and his леда,

absence, therefore, gives me a particular opportunity to say how much we are indebted to him for the constant care and acu- men which he has devoted to the ins tereats of the company, the effect of which is so well reflected in the re- sults which I have had the pleasure to submit.

ALABAMA MARU

ARABIA MARU

MELBOURNE Via Manila, Brisbane & Sydney.

MADRAS MARU

HAIPHONG...Yla Hoihow & Takhoi.

MENADO MARU

Thursday, 6th June.

....... Thursday, 6th June 10 am.

NEW YORK-Via Japan ports, San Francisco & Panama.

APAN PORTS.

ATLAS MARU

SOURABAYA MARU

EELUNG-Via 8WATOW & AMOY.

TAKAO-Via SWATOW & AMOY.

DELI MARU...

TAKAO & KEELUNG

SOURABAYA MARU

Saturday, 8th June, Sunday, 0th June.

Thursday, 20th June Noon. Sunday, 9th June.

For further particolara please apply to-OSAKA SHOSEN KAISHA.

Tel Central No. 4088, 4089, 4090.

M. TAKEUCHI, Manager.

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is

Cargo Business Baimproved As regards cargo business, I am sorry there is stil no sign of any improvement-in fact, I think it true that, in many cases, rates aire Lower than they have

been. ever The market is still top big for the business available, and, While that condition continues and underwriters can be found to write business at any price, is difficult to foresee how any improvement can be effect

ed.

Turning again to our own figures, the amount standing at the credit of profit and loss account twelve months ago was £197,683. To this has to be added the surplus on the year's operations, amounting to 279,320, and

reasonable

stermers

So far as

to

return

מט

the

most endeavour in maintaining-and most even improving where that is pos- sible--the standard of comfort and efficiency with which our company serves the travelling public.

Very considerable sums have been spent during the year under review in making alterations and additions to the passenger accommodation of some of our steamers, and important adjustments have also been made in the engine-room department with view to securing increased speed and/or greater economy.

In this connection

I might refer to the in- stallation of the Bauer-Wach turbine which has been fitted into our Bri- tannia, and which bas already given very gratifying results.

In conclusion, it is usual for me to express our thanks to our varì- ១៩ representatives at home and abroad. This is no mere formality, because we do recognise that our various representatives have played a large part in the success of our operations throughout the most diffi- cult period which marine business has ever experienced. It would not be possible for me to enumerate all the managers and agents who have served us so well, but I should per-without ary serious mishap during haps specially mention our United (Continued at foot of next Column.)

-DRY DOCK—

THE TAIKOO DOCKYARD & ENGINEERING COMPANY

Length 787 Feet. Length on Blocks 750 Feet.

OF HONG KONG, LIMITED.

Wireless Call SALVAGE TUG "TAIKOO"

V.P.G.N. 600 Meters,

Tel Addres: “TAIKOODOCK,” HONG KONG.

Telephone No. 212 Central.

Call Flag: “C” over “ ANS, PENNANT.”

Depth on Centre of

Sill (H.W.O.S.T.) 14 ft. 6 ins,

THREE SLIPWAYS--- Capable of Handling Ships Up

to 3,000 Tons Displacement. Electric Crane at Sea Wall, Capable of Lifting 100 Tons at 70 Feet Radius.

BUTTERFIELD & SWIRE,

FAGENTS.

HONG KONG, CHINA & JAPAN,

We are we confident that the large items of expenditure to which I have just referred will prove have beer fully justified in the increased revenue which they will bring to the vessele concerned.

the company ran

The vessels of

the year under review, but since the vear close I greatly regret to say that the steamer "Transylvania" took the ground in a dense fog when a few miles off Cherbourg, and en the point of completing & most success- fal Mediterranean cruise. There was happily ne loss of life nor injury to anyone on board, and the steamer soon afloat again and safely reached Cherbourg practically scheduled time. It will be necessary to effect certain repairs to the ves- set on arrival at Glasgow, and this

was

on

will involve soma minor readjust

∙ments of our sailing schedule.

Demand for Crises

As you are aware, it has been our practice during recent years to emi- play some of our larger vesselsion cruises drting the Black passenger Season: In the past these cruises have been principally run from New York, but we are finding a growing demand for similar cruises from this

وفله

States manager, Mr. W. J. Roberts, who has not only produced a hand- some underwriting surplus, but has done valsable administrative work for the company in a very diff cult field

Lastly, I should pay a tribute to our other officials and the staff for their

whole-hoarted-and- untiring efforts, without which we should not have been able, year after year, to -submit to you: a series of satisfac-

tory rekults.

The retiring directors, Mesura. A Percy Excles and James P. Budolf, were re-elected.

On the motion of Mr WALE Duckworth, seconded by Mr. A. G Joynson, a hearty vote of thanks was accorded to the chairman.

BA

As there are no questions, I now

to move-

"That the report of the direc tors and statement of accounts for the year ended December 31, 1928, submitted to this

by received and adopted be here-

I will ask he deputy-chairman, Mr. A. C. F. Henderson, to second

it.

Passage for round trip....$20.00 Meals on board Lodging on board

16.40

· 2.00

$18.40

Total

Sir J. Frederick N. Graham, Bart. I have much pleasure in seconding that resolution.

The

Carried unanfreously.

JUNE SAILINGS DEPARTURE HOURS:

Hong Kong 5.30 p.m. Wuchow 2.00 p.m. 3.9. TAI HING"

[1,066 tons-Capt. Q. B. Wilks.]

JUNE

MON, SUN. FRI.

3rd WED.

19:h 9th MON. 24th 14th SUN.. 30th

S.S. TAI MING" [649 tons-Capt. G. J. Spink.] JUNE. WED.. 5th FRL TUES. Jith WED. 28th SUN. 16th

For information apply to

21xt

KWONG WING C

87, Connaught Road West, Phone: Central 893,

WHALERS FOR NORWAY

Among foreign countries for which Chairman.-Will those in Britain is bullding, Norway standa favour of the resolution kindly prominent, if not pre-eminent, ct pre- signify their approval in the asual sent. This is mainly on account of way? Those against?

the demand for whaling ships, of which Smith's Dock Company have very considerable The Chairman-Mr. Cunningham, already built may I ask you to move the re-elec- flect, and fortunately, according to

reports tion of the auditors?

DOW circulating, have just Mr. James Cunningham.-I beg to booked orders for half a dozen

This is an example of the value of

move:

tors of the company."

more,

Mr. A. C. F. Henderson.I have "That Messrs. McClelland, Ker specialising. Smith's Dock Company a particular study of and Company be re-elected audi- have made very much pleasure in seconding the resolution

whaling ships and their requirementa,

The

those in Chairman.-Will favour of the resolution kindly signify their approval in the usual way? Those against? Carried unsinmónaly

Directors Re-Elected

The Chairman I beg to move the following resolution:

and

"That Sir David McCowan Mr. Robert Clark, who retire at this meeting, and are eligible for re-election, be re-elected directors of the company."

Sir Frederick, will you kindly second that?

Mr. James Leslie-I beg to second and their past work stands them in good stead when Norwegian custom- that resolution.

additional vessels of the

The Chairman-Will you put that ers want resolution to

Mr..type. meeting,

the

Cunningham?

Mr. James Cunningham.-Is that agreed, gentlemen? Agreed.

The Chairman.Carried unanimous- ly.

The Chairman. That is all our business, gentlemen, to-day; it now remains for me to thank you for your attendance.

The meeting then terminated,

CONSIGNEES' NOTICE.

Consignees of cargo ex ss. "City of Singapore" are reminded to take delivery of their goods which will be subject to rent after June 6.

BANK LINE LTD.

ELLERMAN &

AGENTS FOR BUCKNALL S.S.

CO.,

SAILINGS SUBJECT TO ALTERATION. WITHOUT NOTICE.

UNITED KINGDOM & CONTINENT

S.S. CITY OF GLASGOW" London, Rotterdam, Amsterdam & Hamburg

S.S. "CITY OF CAMBRIDGE” London, Eatterdam, Amsterdam & Hamburg

NEW YORK, BOSTON, & BALTIMORE

8.8. "CITY OF MOHILE” 5.S. "CITY OF MANDALAY 8.9. "CITY: OF BEDFORD"

via Suez Canal.

via Suez Canal

vin Suez Canal

ALSO AGENTS FOR

LTD.

ELLERMAN LINE

...10th June,

.10th July.

AMERICAN & MANCHURIAN LINE

ANDREW WEIR & CO.

SERVICES TO

BOSTON, NEW YORK & BALTIMORE

S.S, "COMLIEBANK”. MAURITIUS & SOUTH AFRICA

.15th June,

12th July.

9th August.

AMERICAN & ORIENTAL LINE

7th June.

ORIENTAL AFRICAN LINE!

Loading for Mauriting, Reunion. Delagon Bay, Durban, East London, Algoa Bay (Port Elizabeth),

Mossel Bay and Capetowa

Through Bill of Lading sued to Beira, Quilimaine, The Port Amelia Mozambique, Chinde Inhambane, Zanzibar, Mombasa, Klindin, Port Nolloth, Laderity Bay, Walvis Bay Madagsetor.

For fraight or passage on any of the above lines apply to:

Telephone

Central 4771

THE

BANK

LINE, LTD.