1950-05-26 — Page 3

Union Insurance Society annual general meeting

The Union Insurance Society of Cantón, Limited, suffered the largest individual hull under writing loss in the marine market in recent years, when the Royal Mail linór Magdalena became a total loss on her maiden voyago. This was revealed at the Society's annual general meeting, held yesterday in Union Building, at which the report and accounts for the year ended December 31, 1949, were adopted. Apart from this loss, the { Society has been free from. major casualfies, and the re- kults achieved on the year's working have bren most ́gratifying, it was reported.

The chair

was taken by Mr.

E. R. HI in the absence of Mr. M. H. Turner, the chairman of fle Board, through Indisposi- flon.

In his review of the year's ne tivities Mr. Will saki:

year

"In the Fire account promlunt written increased by £50.090 and the claim's ratio shows 'x light Improvement. The better rosulte poijleved are attributable to several Branches, particular ly London And also to our operations in Austraila where d record profit was produced. A of £97,685 hot been! nferred to Profit and Los Account.

"While our Accident business! resulted in a small loss for has Am sure you will have shared your Board's pleasure in business has only provided a nar- the year, and the Motor Vehicle noting the gratifying results oc- row nargin of profit, other classen hieved and the further growth in of business included in the Acel- the financial strength of the So-n

dont

General Account have ciety Insurance experience is.

run well, with the result that of by the nature of the business, higher rate of overall pront had subject to. ugluation from

than in the pre- been achievert to year, but the maintenance of fous year. Under the circumst sound underwriting principle ne with a flexibility of policy to niceferred

needances, the profit of £48,702 trans- Proílf and Loss Account) changing conditions, coupled with rep

representing 7.13 per cent on the a gradual building up of reserves, net premium willten, le regarded enables such fuctuations to b absorbed so that misfortune l offict by good fortune. Results are Uerefore best measured over a périot of years.

as satisfactory.

Reminders

Today

Organ Recital at SL John's

Cathedral, 1.15 .p.m. Union Jack Club, dance, 8'p.m.

Section, European YMCA, Dressmaking Classy 10a.m.; Social Afternoon, 3.p.m.

Women's

10 p.m.

Services Duinée, European YMCA. Nine Dragons Scrvlies Club,

Tombola, 8 pan, Presentation of Awards at Central

.Police Station by Governor,

8.40 p.m.

Crown Land Auction Sale, Talpo Disiric Office, 11:30 am. Cheero Services_Club · ·Amateur

Night, 7.30 pm, Miss Dora Chih's vocal concert,

at Roof Garden, IIK Hotel. HK Stage Club annual meeting,

PRO Lecture room, 0.30 p.m. Quarry Bay School Parents Day,

9.30 d.m. to 11.30 a.m.

Coming events

TOMORROW

Club,

Nine Dragons Services

Tombole, 8 p.m. Race Meeting, Happy Valicy, 2 p.m. SUNDAY

HK

Toc

Art Club, sketching party to Shatin, members to meet at Jordan Road Vehicular Ferry, 10.30 am

H Classical Concert, 50, Macdonnell Road, 8.30 p.m. European YMCA Armchair Group meeting, talk on "The Church In Japan" by Mr. J. R. MacLachlan, 0.45 p.m.

Dragons Services Club, Tombola, 8 p.m.

Nine

You will observe from the Pron: and Loss Account that In- terest and Dividends produced

27.477 and that the Congeli-marked developments, which ou

Business Has undergone in other "A survey of trade conditions dated! Praft for the year ppper parts or the world. Unter pre- reveals that production in many faining to the Society was £176.- sent conditions this must be most countries. notably Conada, the 315. From lils has been deduct- United States of America, Aus- £136.380 representing undisgratifying to all shareholders.

trala and Great Britain, wastributed profts retained in Sub- maintained at a high level. These sldbury Companies. This left the arens, are Important spheres of Society with a distributable pro- O for the Society.

At for the year et £339.935. network of trade restric. C50,000 of this sum has been

THE CHINA MAIL, FRIDAY, MAY 20, 1950.

The Portuguese Concul, Dr. Eduardo Brazno (left) fa shown congratulating Mr. A. de O. Bales, acting President of the Club Lusitano, after presenting the Club with the diploma of an Officership in the Order of Christ at a coromony in the Club yesterday. ("China Mall" Photo).--

Portuguese Gov't honour presented to Club Lusitano

"Fashion in Footwear" Exhibition

Plans for the 1950 "Fashion in Footwear" Exhibition are now well in Hand. As in the past the venue of this exhibi- tion of the best in British foot- wear will be in "Grosvenor", Holise, London, W.. I. and the dates are from September 11 16.15.

Since that year's evujt, two important changes with a direct effect on the footwear Industry have faksh place in Britain.

First there Is devaluation. Although the pound, was devalued in September,

the full 1949, benefit of this movo did not make Hself felt until early this year.

This means that "Fashion in Footwear" will be the first large- scale exhibition to show British shoes, at revised prices to the overseas buyor from hard eur rency countries.

The second important change. de-control of Government bulk) buying of hides, affects both home and overseas buyers. Tan- ners are now free to buy and select their own raw materials.

THE HONG KONG JOCKEY CLUB

NOTICE TO MEMBERS WHITSUN RACE MEETING 1950 Saturday, 27th and Moñaby, 2913 May, 1950

The •fieke bati wiH Bo rungskt, 200/pim, and the first rack with be run at 2.30 p.m..on the 1st Day. On the 2nd Day, the first bolt will be eling at 11.40 a.mi. KhưSARE CHE TRAK Anisha tum, de 12,00 moon. The tiffin Interval .le after the fabrique) (Lib pan.)" on the 2nd Day,

Thờre,ara 10 races on the tet Day and 12 races on the 2nd Day (22 in all).

Through tickets at $44 each may be obtained at the Office of tho Trakturers, fet Nöör, Téléphone Hoðað,, aldő tidkața at Él each In the Spotlál Bweek on thà Taht-rädejot, the 2nd. Diỳ, in Woll an tickets for the Special Cash Gweep on, the Kwangtung Handicap

scheduled to be run, an 7th October 1080. Opadla? „Cash. Bweep tickets may be purchased also at the Kowloth Branen Oice, No,

302, Nathan Road, Kowloon.

{ ·

MEMBERS BADGES AND ENCLOSURE Members, are raminidad that they, and their fadler MUST waar their badger PROMINENTLY DISPLAYED Ihroughout this, Meeting. NO ONE WITHOUT A BADGE WILL BE ADMITTED TO THE MEMBERS' ENCLOSURE,

Badges, admitting Ladies hat, in bislauion of Erdoches or Bexion, tickets, and gentlemen, non, mainters of the Club, to, Members Enclosure, and Cluß Rooms at $10 per day, including tax, för Ladies or Gentlemen are obtainable, through the Sherulary, pr the written or personal introduction of e. Member, such Member to be responsible for all visitors introduced by him, and for pay- mant of all chits etc.

Badges admitting to Members' Encicture will NOT be on sale at the Race Cource,

The Treasurers, Compradore Omen will done at 11:40 mm. the fet Day and at 10 am, on the 2nd Day. The Baeretary's Office will alone at 3215 Fim, ther bày tre là 10 sớm. in the end bay. Both Offloem at tal Noor, Telephone Houka,

In the Increasingly competitive market, this is likely to lead to tanners being able to offer the highest

possible standard of leathers to Brilish footwear manufacturers. This is a

(Tel. 27616). Kour "Fashion in Foot- augury for

for it means that the

wear

quality of the footwens exhibited, so high in the past, will this time be unsurpassable.

Dr. Eduardo Brazao, Portuguese Consul in Hong Kong, yesterday presented the Club Lusitano with a diplomá conferring upon the institu- tion the distinction of an Officership in the Order of Christ, a ráré Pörtuguese honour.

In its conception, both, in ex- At the ceremony-which was held in the assemblyhibition layout and quality of room of the Club-were present leaders of footwear, the 1930 exhibition will the Portuguese community in the Colony and be on the game high level as ita

predecessors. a special delegation from Macão.

Exhibitors include most of the progressive foolwear Dianufac I have the honour to hand to turers in Britain. All fields o tko President of the Club quality shoe-making will be re-

the Luciteno, this diploma of the presented, and buyer o! rank of Officer of the Most children's footwear will find as Ancient and Most Noble Order much sallsfaction as the buyer of Christ.

for men's or women's shoes.

There will also, of course, be Speaking in Portuguese,, Mr. Footlight Parades, where

long and exchange controls which transferred to General Reserve the people of China a successful Cotta Morais, Commander-in-Acting President's reply daily showings of the successful;

Indcrwriting great and small, and £84,600 to guard their inter-counts as Additional Reserves.

Ao-

the

conduct of Insurance business differences cere that tholl through which they are passing Facheco Jorge, representing A. de O. Saids acting President of newest styles of British footwear]

antions, boil

tlie

ter.

to safeguard

credit, do not

simplify "woul! which in so worldwide in charac-

the transfer? in Additional Ferrer ingen Their necessity as a tem- the respective underwriting ac-

China

Increased dividend

the

the Club after thanking the Con- will be exhibited by world sul for his kind words and wel-famous British mannequiis.

The organisers of the exhibi coming the guests said in part.

"From the carllest times, the tion will, as on previous occa-

of Portugal feretatheve a haven of refuge

Japanese buying wheat from Pakistan

A limited number of timire, will be obtalmibia at the Club House, provided they are ordered in advance from the No. 1 Boy

NO CHILDREN WILL BE ADMITTED TO THE CLUB'S PREMISEO DURING THE MEETING.........

PUBLIC ENCLOSURE

The prios of admission to the. Rublic Bridfbeure, in $3 each day Including tax for all persons including Ladies, and ls, payable at the Gate.

BOOKMAKERS, TIC TAC MEN STC.

STC, WILL NOT. DE PER-

MITTED TO OPERATE "WITHIN „THE PRECINCTS OF THE HONG KONG JOOKEY CLUB, DURING THE-RACE - MEETING. MEALS AND REFRESHMENTS WILL DE USTAINABLE IN THE RESTAURANT IN THE PUBLIC, ENCLOSURE.

SERVANTS PARED

Servants' pauck will be lssund ta private box holders only, who are requested to distribute, then with diüdeimination and to endorse thele, names on the pastor.... Hölders of, kuch baskis, Are, not permitted in the Members, Enclosure, azcept főt Passing through on their duties and must remain in their employera stande.

BY ORDER,

All Branches & Windsor-House

DAIRY DEPARTMENT

Lower Albert. Hoàð East Point, Branch Kowloon Branch: Windsor House. Annexe Park Branch.

8. A. BLEAP,

Secretary.

(CLOSED ALL DAY,

Rim.... tó · 9.30 a.m.

9.00 am to 11.00 a.m.

The latter included Mr. Al- tino Salgado, Colonial Secrc- Wish for success Lary, Macao, representing the Governor of Macao; Dom Joso "Nevertheless, although our

de Deus Ramalho, the Catho- business interests in China are no longer of any accoufit, we wish lic Bishop of Macao: Colonel period Chief,. Macao; and Mr. Alberto laque, from the difficult

Bnd

that the friendly relationship the President of the Macao which has existed so long between Senate. that great country and ally be 'porary expedient is recognised. counts, und thuse In the Society'n kons

Dr. Brazao, in his address, sald eventually be in part: together to the peaceful "We are taking part in a cere- Fortuguese ploncers Hong sions, do everything possible to The Dairy Farm, Ice & Cold Storage Co., Ltd. but we look forward to the time. Troft and 1.0 Account, repre- avantage, of both. There is...no mony which is a, most auspicious / Kong felt the need for social and make the visit of overseas, buyers when their gradual elimination sent corresponding transfers made

cultural intercourse. A group wat D. pleasant and profitable, one Lecomes possible,

by subsidiary companies out of

doubt that a prosperous and one, and

Y 29th MAY, 1950 WHITMONDAY it gives, me, the very "I need not enlargs on the the undistributed profits retain peaceful China would do much to greatest pleasure inviced to dell-first formed, a library was, then, But the event has proved so situation ait exists in China. ed by them.

establish the better world condi-ver to the Club Lusitano the dip-started, and subsequently a club-popular in the past that buyer!!

house was built.

HOURS OF BUSINESS. Overocas trade with, that vast,

for which we all wish.

who propose to attend are strong- loma whereby the Government of the increase in the provision Portugal has conferred upon this appreciated the wisdom of build-the decasion.

From the outset the member: y advised to plan well ahead for country is a shadow of its for."

The

OUTCHERY & PROVISIONS. „DEPARTMENT mer self. I will, I think, ine

for staff

pensions is a pleasing Institution the distinction of an ing on a good foundation on as- It is, an occasion that no and serest shareholders to know "The Directors recommend an

feature of the Report. We all re- Officership in the Order of Christ. rociation to cater to the needs of faterested in the trade will want that the Society's business re increased dividend of 32/02 a)

tognise the valuable contribution This, therefore, is a day which the community, whosa gepd namo to miss, and record attendances celvda

through our two

which the staff make share which will cost £210,375,"

to

without doubt, be of the it was necessary to maintalii as fire expected. branches maining

Ina and that the unappropriated sum their working years, and

strength of Society during

in the long it was desirable to preserve the eatest significanc namely, Shanghai and Tientsin, of £0.100 be added to the balance wish to see proper provision

naturally

History of this Club.

of their rich cultural heritage mada

The regresants less than one per carrled forward.

Government Cont of our

vas not moved merely by the worldwide business.

"The figures appearing in the for them after their retirement, "Before commenting upon unconsolidated Balance Sheet, while

"Mr. L. B. Stone has completed fact that the Club Lusitano was for the Portuguese displaced by derwriting experience, I would indicating continued progress in

a most satisfactory term as our new established so long ago, but prin- the hostilities, to accommodate explain that the revaluation of the financial strength of the So- General Manager. We are glad to elpally and essentially, because of the con

consulate, to subscrible funds Sterling in terms of certain other elety cull

Learn that he is shortly proceed the underlying ideals which have for an elementary school for Por ነ::

call for no pariicular com- currencies

fully not

reflected ment on this occasion.

ing on a visit to our Branches, been a part of its policy. This tuguese children, to make its in the figures appearing. In the

Agencies and connections In with the deepest regres

ution was the first nucleus įroonis available for classes, lec- Kevenue Accounts. The reason,

United States Canada, the

and concerts these are the Portuguese from Macaotures for this is that transactions dur-fearnt of the death in New York Aneries and London. The value set up in Hong Kong, when they some of the functions the Club

that in February 1830 your Board Canada, ing the year have been included of Mr. Henry S. Sutter, Mr. Sut-

of such a visit cannot be over- decided to make their home in has been called

to. dia upon at the rates of exchange ruling ter-was-the-President of W. 3. tinted and we hope his trip this British Colony, and where charge apart from the pursuance

tine and thus the new Roberts and Co. Incorporated, the

will be a pleasant one?

they have been

so of the objects of its association. collaborating 50 The motion was then rates of exchange only apply to society's United States Managers.

put to loyally, with the

of their

"It Is natting recognition of business done in the last four2

the meeting and carrled unanim- valuable ously. Tour and proved himself

new home. It was, furthermore, the past that this singular honour months of the year.

felcut in his closo supervision of Mr. J. D. Alexander and Mr. during all these years, the very has been bestowed on the Club "As regards outstandings, how our important Interests ever, full provision has been made United States. He had been in word re-elected.

in E. 1. Hill, the retiring Directors; centre of this community's unity It is doubtless intended to serve just as it was the source here also as a beacon to guide future at the rales ruling as at Decem-

generations as well as to remind for more thin ཕ poor health

year ber 31.

Lowe, Bingham and Matthews. of Portugal's traditions.

them of their glorious post. but the

news of his death came "Turning to the Marine Account as a great shock to the Directors, and Peat, Murwick, Mitchell and

re premiums for 1948 which, are

Company were the General Manager and allțat

re-appointed How included for comparative lead Office.

auditors. purposes, have been adjusted to

Supporting Mr. Hill in the chair "Fallowing this sad loss I am the same basis as those for 1949.

to be able to inform you that were Mr. J. D. Alexander. Mr.. H. Premiums for both years now up.

(Directors). Mr. B. Stohe peer after deduction of comissions, arrangements have recently been Owen Hughes and Mr. B. Cooke as well as after deduction of reorganisation of Messrs. W. J concluded for the necessary re-

(General Manager) and Mr. J. turns' and reinsurances.

Roberts did

W. Alabaster (Assistant Mana- Co. Incorporated, "Results

are on a satisfactory level, We have been free from ger in the

who will continue ha*our Manager)

Shareholders of

present were United States major casualties with the excep- America..

Mesara, P. 5. Casaldy, H. J. Arm- slon of Urd Royal Mall liner General Manager, Mr, L. strong, G. W. Sewell, C. D. Blade, Magdalena which became a total B.

B. Stewart, D..B. Sinclair, Li is Stone, proceeding

shortly G. E. Ramage, C Maclean S loss of her maiden voyage, and produced the largest individuel isit to our Branches, Agencies Mason, E.H..Harrison;,

..J. Holm, the connections In, Canada, Hull underwriting loss suffered by und states of Arieties, and S. M. Garrard, 1. M. Fotfest, A the Marine market in recent London. You will, I know, Join A. Dostur, A. 3.

V. Caddick, H. M. CiCooey, R.

+

the

усата,

Blad

a

Need for unity "The community of the Por- tuguese In Hong Kong WAY nevet sa numerous as it is today?: There, J, another circumstance:

DBS PARTY

A cocktul party was held by

Two Japanese Government officials arrived here by BOAC yesterday on their way to Pakistan.

Mr. Taklo Oda, Chief of the Interna-

Japanese Government tonal Trade, and Industries See tion, and Mr. Takashi Sakaya, Chief of the Agriculture and

are Forestry Section, going Karachi to negotiate the purchase of 100,000 tons of wheat for the

Oda

to:

Je revealed yesterday

: ל

COLD STORAGE DEPARTMENT

East Point

Connaught Road Canton Road, Kowloon ICE JALÉS

East Pointt

Kaneu Street, Kowloon Lower Albert Road

Pottinger Street Poak Branch Nathan Road, Kowloon RESTAURANTS & SODA FOUNTAINE

9.00a.m. to 11,00 -.m.

8.00 4.m: 13 10.06 1.m.

UdIAL HOURS

8.00.10.10.00 a.m.

UBUAL HOURB.

particularly, in times of uneest; the Old Boys Association of the the wheat purchase have nid The Dairy Farm; Ice & Cold Storage Co., Ltd.

tan

already'

He further said that if the nego- tlation ends successfully, Japanese payment will be made from Japan's sterling surplus.

such as that through which we Diocesan Boys School at the Uni- been made through cables be- onversity Alumni Association Club tween his government and Pakis- are passing now, there is a

A con

£ Queen's Building yesterday stant need for unity and under- Blanding, over which the Coniul evening

About 200 Old Boys of the mast preside, boin as the link between the Portuguese com- schoof attended the party which munity of this Caleny. And the lasted for about two hours. Mother Country land, as the in-

directive amon terpreter and direct yourselves of Portuguese policy, Portugiese did not ex- A The P Palmer I

there was no mere adventure. A

H. S. Lapes,

and, Lam Portugal's aide service wor link- Stu-laite

ed Annual general meetings of the with a high idén), scientifical ly prepared and carried out in Company it drew life. It was one of the Limited; China Fire Insurance greatest civilising influences the

me in Wing him a betund, J. A. Remedios, A. dos Pand-morely in search of, wealth:

Máriño surcharges Journey. The value of

mufarini in contacts is very

which is "The abolition of the Comtering the team bined Marine Surcharges hallway, tenture of the relationshit exist through the year and increased in between members of the S competition brought about clety Head Office

BS in our

Hull under

trend. colipled with

la certain cargo

to

am pleased say, a prominent subsidiary companies, British the noble principles from which

where

Qur.

Traders Irisurance

Hico partives Company Limited; North China world, hak known, and we tried to

1.

The chairman has

his statement the Accounts the

Conradiation was took to

Very succesful

efforts of

of the

LAND OFFICER'S ANNUAL REPORT

Insurance Company Limited and enrich the world which Portu Yangtse Insurance Associativit

Kuese genius discovered with it alraady Limited, were, also held.

The very hatis of this civilisation! Christianitywe tried and ue- caeded la planting round the Indies Klobe.

To Africa, the China, Japan and the Islands of Oceania we gave far more than we have taken, and at the game time we linked together a world that was unknown, disporsed, and disunited. We were, here in the In 1947-48 the total was HK- Far East and in so many other $72,270, 780 and in 1940-47 It places, the paladins of Chris- was, HK$41,012,489,

Hlahly. This was our work. It In the year under review 6,770 will always be the directive of Instruments were fegistered t

thought. our

havý môre than off-201 the Increase, gained during the letter months of the year from révaluation of sterling and ares rected in a reduction of £47,-

BAL BEAT NOR ASTR our premium incomy

tinued emcient now Sterling exchang rates for Canadian and United

Bdolety is due to their Burd States Cutroney will have a de-

work and I wish to thank them Hayed-pffect("on" Hüll", business, on your benxir and on behalf particularly where

belated calmy of my „Co,Direstora for their and "this is the « somewhat un- Mr. 87111

-di-hard, currencies are concerned, kehlavor of Proposed

curtain

chal which your adoption of

men

the Report and

Ac- la his stato counts as presented? plea

Seconding the "motion Mr. G. W. Sewell sild:

The Marine Fund at the end of 1940 represchts over 137 iper cent of the Premium Income for the year.

BLOUSE OR SKIRT: MOMORACKSMAS, VA

A total of HK$115,116,875 was involved

In mortgages during 1918-40, scoring to the annual report of the Land Omeer and Registrar of Marriages.

the Land Ofice. Total confideram, befistory, is not, a page that is tion of the 3,702, "Assignments dendit, is being written hour registered, waa HK$158,597,001,17 by hour. The roatacse of our

Total consideration in respect effort during tho, prosent time of sales, mortgages, and all other has to be the continuation of the insignents registered was HK-| page we wrote.yesterday. If 'cais- #314,0

not terminate, or be interrupted. In the same. per

"Patriðilẩm (1, not the

rečita

"Our congratulations are due to thore responsible, for the compro- hensive Benart and Belance Sheet. the subicct of this Meeting: It is in keeping with the progresalys [policy of the: Bociety, withmik:

tringlin in soy say, its traditional|| riatto, financial kunsuryatiam. „The par- ment of an incrqused dividend nov) recommended he heldbotn of

WATSON'S

ORANGE SQUASH Cordial

delightful pure Fruit thirst quenches

PURE FOGO SPECIALISTS.

WHITSUN HOLIDAY -1950

Saturday May 27th- Sunday May 28th. Monday May 29th.

HOURS OF BUSINESS

Main Store

& Branches Main Store Branchés

Talp Stóre

Braid and cakes! Monday in the vestibule of

Closed. Open 9-11 a.m.

Closed

baile on Sunday

CAFE WISEMAN

Which will be opelt af úSUAL

until 10.30 p.m. each day

LANE, CRAWFORD, LTD.

TAI HANG JEWELLERY Wholesalon or CUT DIAMONDS

SUN & CO.LTO.

MANILA SUPIRA