1939-02-25 — Page 24

Pare 24

STOP PRESS

TEL. 20022 or 33993

of

net profit $15,296,621, cash assets re- presenting an increase of $42,000,000 over last year, investments showing an in- crease of $30,000,000 and, loans and bills receivable showing a decrease of $59,000,000 on last year, were announced at the an- nual meeting of sharehold ers of the Hong Kong and Shanghai Bank to-day...

from the Highlights speech of the chairman, Mr. T. D. Pearce, were:...

"The political situation is so delicate and the trade and currency situation so I trust abnormal that

you will not be disappointed leave untouched

if I..

or pass lightly over matters about which you hoped for stronger word or more de- tailed observations." The. more I say the more easy will it be for misinterpre- tations to arise.".

"There are some to blame our Home Government for not taking a stronger line of action both here as well as in Europe. I do not pro- pose to criticise. British po- licy. I believe that recently there has been more con- troversy at home than is wise and desirable about questions of foreign policy

Moreover, the. Pow.. ers most interested in the Far East have made their stand clear: that the posi- tion of their nationals i9 governed by strict obser- vance of international · obligations, the alteration of which, by unilatéral ac- tion will not be considered

It is, however, im- possible to reconcile such (Japanese) assurances with the trend of developments in North and Central China. Our important stake in the economic structure of the Far East makes us very anxious that

estimate her lasting powers under conditions as they exist at present,

•

Whether these conditions. change" or "not ✨✨ mainly de- pends on external politi cal developments."

"The fall of Canton and closure of other southern

ports has had an adverse effect on the business com- munity (of Hong Kong) but it has caused no panic and we are prepared to wait and see what this ́ ́coming year brings forth. Fortunately the currency and finances of the Colony are sound, so we are in a position to face the future with confidence.",

Again referring to Sino- Japanese hostilities, Mr. Pearce said; "Things are drifting dangerously and the gap will grow more and more difficult to bridge un- less mediation is attempt- ed soon."

·A· tragic`` incident occur- red in the Sydney Maiden Stakes to-day when Seren- ade, ridden by Mr. A. W. Raymond, fell and had to be destroyed.

Serenade was lying se cond to Devonian when it suddenly fell for no appar- ent reason..

The

pony limped off the course, and on examination it was found necessary to shoot it.

Mr. Raymond was taken to hospital in an ambulance with a broken collar-bone and suffering from shock.

!

"Rapier," the "China Mail” racing expert, tipped the winners of all five races. before tiffin this morning. Details are in Page Seven.

5.—1.30 P.M. WONG-NEI-CHONG STAKES.-Half a Mile. ··· Mrs. J. H. Taggart's Portrush, 155 lb.,...(C._Encarnacao) Wong Sui Ngau's Ring Master,

(B. L. Tão)" 158 lb.,... treaties,

Jolly Company's Kut Cheung, agreements and properly

2152: ĺb, (P. Y. J. Wei) authenticated statements should mean what they say and be carried out with good faith.

"Early in January the Chinese Government. were driven to the decision that - since 80 per cent, of their revenue was out of their hands they could no longer bear the whole burden of finding the equivalent of £400,000 each. month to meet (Customs) loan re- quirements. However, no public default has yet taken, place and it may still be avoided.

Referring to the Shang- hai situation, Mr. Pearce said: Unfortunately barely perceptible, progress · has been made in the negotia tlons affecting · Shanghai and its relations with the Japanese naval and military forces and I can only under- line what your Chairman said last year when he em- phasised the importance of the Powers supporting the present Municipal Adminis- tration, pending a final set- tlement of the Shanghai problem in all its aspects.

"Japan is a well dia- ciplined country with a highly organised system of Government and it would be. istake to under.

2

3

Also ran Alpha, 152 lb.,- (C.. F.† H. Churchill); Battleship, 155 lb., (S. W. Tang); Black Diamond,. 165 lb., (L.-B. Chao); Calientito, 152 lb., (P: L. Chin); Devon Dumpling, 155 lb., (H. J. A. Hearne); Dow Jones, 156 lb., (K. I. Ip); Gallant Marshal, 158] lb., (H. C. Pih); Lambeth Bridge, 155 lb (VV. Needa); National Honour, 158 lb., (H. P. Chanson); Pall: Mall, 158 lb., (S. L. Yuon); Phoenix, 155 15, (T. L. Wong); Rose Day, 150 bb,, (Toung Wing-kwai); Smiling Time, 165-lb (J. Pote-Hunt); Thanksgiv ing Day, 152 lb. (S. C. Liang); T- gor Eyes, 155 lb., Y. T. Fung); and Welcome, 101 lb., (TY. Woo).

19 starters. .

Won by 2 léngths, a neck. Time: 0.58-3/5 (Record). Pari-mutuel winnor $10:20; places, 1st $0.80; 2nd: $31.80; 8rd, $7.70.,

Race 5 No. 2287

9804 2657-

$1881.80

894.80. 197,40

*Unplaced runners ($50 each), Nos. 8438, 971, 885, 2028, 2053, 749, 1172, 370, 492, 2969, 585,. 874, 970, 1888, 2206, 8600.

Mra. T. E. Pearce, of No. 290 The Peak, has reported the loss of a platinum and diamond brooch, valued at $200, between 1 and 1.80 a.m. on Friday, while travelling. in motor car. No. 23229 or In public chair, between Branksome Toworn and May Road-

Printed and Published for the prietors; The Newspaper. Entory

Ad. by. GORDON CADE BURNETT - At) BA, Wyndham Street, Victoria, Hong

THE CHINA MAIL, FEBRUARY 25, 1989.

OPTICIANS to the Colony

for

47 years

MR. MOLLER

STILL HOPEFUL

zarus

EGOPTICIANDET.

6, Pedder Street (Opposite the Hong Kong Hotel)

KOWLOON CITY HUT FIRE

fire

re which destroyed two unnumbered, huts in Talia Vil- lage, Kowloon City, broke out at. about 1.55 a.m. this "mórning. Mr. Eric Moller, owner of Four appliances fought the fire Navylight, told the “China for an hour before it was ex- Mail' This morning: “If every- tinguished. As far as is known, thing goes well I expect Navy there were no casualties. light to win the Derby, but one

never knows.

"Unfortunately

my

son has

these out

torn a ligament in his leg and ac- horse is Rose Elect, and cording to Dr. O'Hara will not be two will probably also fight able to ride for at least six months. the Champions..

"I hope to persuade. Mr. Pote- "My pony is slightly heavy but

I wanted it to be in

the Hunt to take his place.

"The biggest challenger to my weather was very warm

SHIRTS

WITH

case

"TRUBENISED"

COLLARS

A Trubenised Collar provides the

Acme of Comfort and Good Appearance for the Business

Man. Here are a few of its

special features:

Retains its stiff appearance with Soft Collar comfort.

Will not wrinkle or crease under any conditions.

Is as porous and absorbent as any soft collar.

Will retain its smooth immaculate finish after laundering. Can be washed like any other soft collar. Requires no starch.

Wears longer-starching shortens the life of collars.

NEW SHIRTS NOW SHOWING WITH COLLAR ATTACHED OR SEPARATE COLLARS

Inspection Invited

Wm. POWELL, LTD.

10, ICE HOUSE STREET

CONTINENTAL

STURDY

and STRONG

OWITZ & Co.

PROTECTED BY THE BUILT-IN WATCHMAN

Westinghouse

RITJERATON

DAVIE, BOAG & CO., LTD.

Qusen's Bidge

Tol. 31141-