1940-04-04 — Page 15

THE CHINA MAIL, APRIL 4, 1940

COMPANY MEETING

H.K. FIRE INSURANCE PROFITS

"Insurance difficulties are in no wise lessened with ever- increasing competition and vexatious legislation, while -taxation in all areas is ad- vancing by leaps and bounds; I dare say all company legis- lation is vexatious, but per- haps it is for our good and we are merely unapprecia- tive," said Mr. J. J. Paterson, chairman, at the annual meeting at noon to-day of the Hong Kong Fire Insur- ance Company, Limited.

He was supported by the consulting committee, consisting of Messrs. C. Bernard Brown, A. H. Compton, M. K. Lo, T. E. Pearce, and J. H. Taggart; Mr. S. T. Williamson was absent.

The chairman said:

The result of the company's working for the year 1938 which we now present to you is eminently satisfactory, the account hav- ing run off with a credit balance of $669,- 429.78, the fifth best we have had. This is the more gratifying In view of the fact that premium Income fell by just over $120,000,

as compared with that received during the Sterling

year 1937; this drop in revenue was due to the material curtallment of our operations and also to the greatly reduced showing of our takings at Shanghai and the Northern Agencies, when converted into Hong Kong dollars at present day rates of exchange.

A comparison of ratios as between 1938

45.81 per cent

and 1937 reveals the following:-Losses charges 40.15 per cent and 37.67 per cent

as against. 01.74 per cent,

cent for 1937. The rate for Sterling

place in this respect.

leaving a balance of 13.94 per cent as against the extremely narrow one of .59 per ex change remaining at 1/2d. no change took The balance at credit of 1939 working account-after 12 months-stands at $653, 598.82, a decrease of $108,855.30 on that for 1938 at the same stage. This is due to a still further, pruning of our Sterling transac-

2-1

(Relenned by The Dell Brndicate, Inc.)

The gold digger wonders why if men are the stronger sex women can hold them up.

RUSSIAN

WOMAN'S FOLLY

to

*Page 15

LORD ZETLAND BROADCASTS ON INDIA'S PART IN WAR

London, To-day.

OPENING HIS SPEECH with a brief sketch of the varied resources of India and explaining the sys- tems of Government, Lord Zetland broadcast last evening on the part India is playing in the Empire war effort.

Remarking that Indian forces had been sent to Malaya and Egypt, as well as providing troops for Aden, the Secretary for India said it had been impossible so far to satisfy the aspiration of a great number of those wishing to put their per- sonal services at the King Emperor's disposal.

he

The Indian Princes, he continued, traordinary importance for German had been specially forward in making | radio propagandists who are pouring material.contributions and he in-out chivalrous talks all over the stanced the Nizam of Hyderabad's world of this distressed and unfor- gift of £100,000 out of which a tunate country. India will not dis-. squadron bearing his name had been dain the world's sympathy in provided, as typical of these rulers' righteous struggle for freedom attitude.

let it not come from the Nazis,"

THE TRUTH

"Remember those are not my words

but.

After speaking of the Indian Navy, which he felt sure would enhance its present high prestige, Lord Zetland said the Indian Air Force had reach~ re-ed a high standard of efficiency and but those of a writer in the official it was apparent the air was an ele-organ of the India National Congress who goes on to say "We. cannot also ment particularly congenial to young forget that according to Hitler

"It was very foolish cause all this trouble,” marked Mr. E. Himsworth at Kowloon this morning, im- posing a $25 fine on Mrs. E. Khrisna, of No. 16, Hart Avenue, for giving false in- formation to the police.

Indians.

he

and the Nazis, the native peoples occupy a place in the ladder of creation somewhere between ape and man. Is it these anthropological experts that are to speak for this country before the world?"

Lord Zetland concluded "The truth

ECONOMIC SIDE

Turning to the economic side, said new industries were being started and the utmost use would be . Mrs. Khrisna was also fined $5 for allowing her dog in Chatham Road made of such substances as asbestos, without a muzzle and cautioned for bauxite and chromite, and he added: is India stands united in her hatred keeping the dog without a

"The resources of the Indian sub- of the Nazi regime and in contribut- be welling magnificently towards the Allied She pleaded guilty to all summonses continent seem indeed to and stated, through a Russian inter-nigh inexhaustible and they are be- victory."-British Wireless. preter, that she was very sorry. She ing most industriously developed." was in bad health at the time.

licence.

tions and the yet lower exchange at which said that at 5.50 p.m. on March 3 he Sergeant H. B. Dewar, prosecuting,

both premium income and Interest, eman- ating from China sources, have been taken into our books. We are optimistic however that unless anything particularly unforeseen

occurs, the outturn at the end of this year

may not fall far short of that for 1938,

The surplus to be dealt with is $669,429,73 -the balance of 1938 account-and we now recommend the payment of $11 per share,

absorbing $140,000, the appropriation of $100,000 to reinsurance fund and that the balance of $120,429.78 be transferred to in- vestment and exchange fluctuation account.

This represents a cut of one dollar per share in the dividend and much as we re-

gret having to advocate it, we feel share holders will agree that, in view of the heavy shrinkage of over $80,000 or $2 per share-in income from interest, this course is only wise. Here again this shrinkage is due almost entirely to Shanghai exchange

which fell from 180 at the end of 1938 to 310 as on December 31 last and now stands at 350.

SHANGHAI INVESTMENTS

It will be borne in mind that we are es- sentially an Eastern company, incorporated in Hong Kong, and that, certainly over the first forty years of our existence, the

bulk of our income was derived from Shang

hai and China generally. This being so, it is only natural that we should have consi-

in

Devoting the remainder of the Britain and India, Lord Zetland said: speech to political relations between

FROSSARD LEAVES saw Mrs. Khrisna with her dog, "The goal we have set before our- which had no licence or muzzle,

London, To-day. Chatham Road. He pointed out the selves is to aid the people of India measure of political

Sir John Reith, British Minister of offence and told her that she would to acquire a

unity which will enable her to take Information, yesterday went to Hes- be summoned.

her place as a great self-governing ton airport to see off M. Frossard, the Common- French Minister of Information, who Dominion in the British wealth of Nations," and he reviewed has concluded his visit to Britain.-

Government of Reuter. the objects of the On March 27, Sergeant Dewar India Act of 1939, whereby provincial again, saw her in Chatham Road and, governments were transferred to In- when asked, she at first denied all dian Ministries and responsible In-

After few

dian Parliaments and provided knowledge of the incident. minutes, she stated that she was re-bringing both the provinces of British, siding in Hart Avenue,

She gave her name as Mrs. Evans, of No. 18, Kimberley Road, where the Sergeant was told the following day no such person had ever resided.

to

The Sergeant accompanied her Hart Avenue and she pointed out the top floor of house. No. 14, but stated that she would see her husband and refused to take the Sergeant up.

He requested her to accompany him to the police station, but she refused, An Indian constable who happened to be near was told to make a re-

port to the police, requesting that a

to car be sent to convey her station.

the

derable investments in Shanghai in the At that stage, she told Sgt. Dewar shape of debentures and first-class mort- she was residing at No. 18, and ac- gages: I think I can say without exagger-companied him there, finally giving

ation that there is no record of our ever having made loss over them in terms of Shanghai dollars, either in respect of prin- cipal or interest. This is still true to-day but, in terms of Hong Kong dollars, the Shanghai currency is by no means what it

wos.

her name as Mrs. Khrisna.

Three days later, Mrs. Khrisna was

her move attempting to

furniture when he went to serve the summons and was told that she was moving to No. 23, Lock Road.

for

India and the States of ruling places irito a great Indian Federation.

POLITICAL FORCES

Difficulties had arisen, he said, and he explained the co-operation of these main political forces, the Indian Na- tional Congress, the Princes and the All-India Moslem League, essential to the establishment of federation. three, however, had raised objections with the result that the Congress

All

com-

Party was now demanding a pletely independent country while the Moslems refuse to contemplate such a solution and demand à separate Moslem State.

lasting

AMERICAN INJURED

Louis W. Miller, of the s.s. "City of Norfolk," was taken to the Ków- loon Hospital with leg injuries yester- day. He slipped and fell the ship.

on board

SHE DOES HIGHLAND FLING AT 72

Old Lady Tells Secret

·Of Her Vigour

The writer of the following letter once suffered from rheumatism, head- aches, and depression. Then one day a "I am convinced that no Turning to the balance sheet, I have to

settlement in India will prove pos- vigorous old lady told her the secret call your attention to the transfer of a fur- ther $500,000 that we have been obliged to INDIAN ACCUSED

sible without a real reconciliation be- of good health. And now she writes to tell others how she discovered 'a make from reinsurance fund to investment

tween Moslems and Hindus," and and exchange fluctuation account in order to

in life":- Channan Singh, 27, residing at No. added "Whatever the difficulties stand-wonderful sense of well-being and joy put the latter reserve in funds to absorb

37, Po Kong Road, was remanded foring in the way we shall continue to "Kruschen was recommended to me the depreciation on Shanghai investments.

at labour whole-heartedly to the best The toll of this depreciation over the past 24 hours by Mr. E. Himsworth

by an old lady of seventy-two who can two years ls, approximately, about one and Kowloon this morning when charged of our ability for such a reconcilia-dance the Highland Fling like a young a half million dollars and our Shanghai with demanding $1.70 from a Chinese tion."

girl-thanks to Kruschen, which she holdings to-day, as represented in Hong woman on Tuesday and with as-

has used for thirty years. She told me Kong dollars, but one-fourth of the figure

to take Kruschen Salts to try and cure at. which they stood two years ago. How

a dull heavy headache from which I ever, our reserves-as adjusted-are still In a strong position and more than adequate

tinued, were naturally seized on

These political differences, he con- suffered every morning on wakening. to care for any strain that may be placed

by I was also troubled with rheumatism on them by the volume of business we transact.

German propagandists but he felt it in both shoulders. Kruschen turned the trick. The headache disappeared showed a complete lack of all sense and so did the rheumatism. I have of humour for the Nazis to pose be continued taking Kruschen because it fore the world as champions of gives me a wonderful sense of well- freedom where India, was concerned. being and enjoyment of life."

(Mrs.) F.B.W. "I feel tempted, for the benefit of

- More work than ever devolves upon the staff and for this reason the usual bonus of 15 per cent has 'been "granted; I trust · you will approve,

RESOLUTIONS PASSED

suming the character of a police afficer for an unlawful purpose. He pleaded not guilty,

Inspector H. E. Rogers is in charge

of the case.

k

FATAL_ACCIDENTS

NAZI LACK OF HUMOUR

A 28-year-old Chinese, Lam Shing chi, was killed yesterday when knock- Resolutions were: passed unanimously ed down by a car driven by Mr. K. D. adopting the report and accounts; · re-elect-

Nazi propagandists, to quote an opin- Kruschen is a combination of six ing Messrs, C. Bernard Brown, A. H. Comp Bruce, in Hennessy Road. ton, M. K. Lo, T. E. Pearce, J. H. Taggar Li Kau, 17, employed in a garage ion of them expressed not long ago:

Nathan Road died at Kowloon in the official organ of the India Na-natural salts which stimulate your liver, kidneys and, digestive tract to chairman; the consulting committee; and Hospital yesterday, after being knock- tional Congress. This is what the healthy, regular activity. They ensure re-electing Lowe, Bingham and: Matthews

Indian political Internal cleanliness, and keep the and Percy Smith, Seth and Fleming audied down by a car inside the garage writer says: "The

situation has suddenly assumed ex blood-stream pure." tors at $1,500 each.

when the car was moving in.

and 8. T. Williamson to form,` with...... tho, in

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