1958-09-09 — Page 9

THE GENERAL ELECTRIC COMPANY

LIMITED

OF ENGLAND

Record Turnover

The fifty-clgbh Annual Gen- eral Mecilog" of The General Electric Cintany, LA, Wik

THE CHINA MAIL, TUESDAY, SEPTEMBER 9, 1958.

TRANSPORT NEW ROLE FOR UK BANKS

VISCOUNT BOOSTS

NZ AIR TRAFFIC

held on Semember 4 in Londe PASSENGER traffic bo-

Mir Lesile Gamale, M.C.. Chairman and Managing Direc- for, presklu

tween Auckland and Christchurch has increased by nearly 50 por cone since New Zealand National Air-

The following is an extractways Corporation introduced from is Review for the year ended March 31, 1958;—

the Viscount last February.

The average passenger load fretor has been 77 per cent, re-

60.

In spite of adverse conditions | presenting 40 nents filled out of we have secured in modest In- crease in turnover which has for the first time. the history of the Company, -paused · the £100,600,000 mark. The in- create, however, was not suf-

fielent in counter-balance the fall in the nurgin of set rent Profits before laxation £4,705,000 show £1,103,000,

24

fall

of

Your directors have deelded to recommend a Anal dividend of 6 per cent, which will make 10 per cent for the year. The to:al reserves of the Group now nmount to £37,284,000, and bear witness to Lhe company's great inherent strength,

PRODUCTS

GENERAL GROUP: --The General Pr ducta Group produced a turn- over at home and overseas of £03,250.000, 61 per cent of the total.

In the top and lighting field, our Osram lamps. Huorescent

tubes and other types of dis-

HONGKONG

STOCK EXCHANGE

This

Our Own Correspondent Business done on the Hang- kong Block Exhutige The "traffic jump" following! | morning amounted to approxi- the introduction of the Viscount hitely $100,000, Noon quota- I not n new phenomenon; IL | tlona and the morning's trans- has already been demonstrated juctions were; in at least Frequently, however, such traffic 30 other countries.

Iuyers lea Zala inereuses are attributed to the ability of the Viscount to divert existing traffic from older. les competitive types of alreraft,

The Aucidand-Christelairel route, however, is operated only by N.Z.N.A.C. and provides clear proof that the appeal of prop-jet Viscount travel is sure Delent to generate new traille,

10

N.Z.N.A.C. operates Viscount 800 series. nireraft and has two mure in order. The economie qualities of the Vis- count are trendy reflected in the Carpention's balance thret for 1957-58,, which shows that net motit has creused by £21,456 to £67,136.

charge lamps, continue to com- Electronic Trainer

necus For Ground Crew

switch-gear,

mund the largest sale of all lamps in this country. On the 'installation side-wiring

Roles, ironclad cable, condult and condult ne- cessories-business has fel: the effect of the slowing down In hulling programmes due to credit restrictions. The radio

and television market made a further material expansion and the Impact of our range of models mens than enabled us to hene. Our domestic equipment business occupies a very im- portant part of the roup's bett- vities. In this rection we look forward to sustained expansion,

ENGINEERING

Are are becoming more kvolved

|

K

↑

SBATOR HANICS SEC Bank.

INSURANC 109 Janbard Canon

SHIPPING Wienek

740

54

745 743

*1

DOCKS, F

5.73 5.00 1000 14

100

.....

424

1150 11.40

K. Wharf.

Bok Provident,” LAND, ETC.

The New Look For

Consumer Credit

By RONALD BOXALL

London, Sept. 8. Phases one and two of the now British

INDUSTRIALS CONTINUE TO ADVANCE IN NY

New York, Sept. 8.

Stocks advanced in the industrial section today until the average for this group touched a new high for more than

trino

a year and then backed off from the best levels.

in

a Getty I Railroad issuer Baggızı

their average. Glidden Co.......

Ouedric (B. F. Co. ...... email net

Goodyear Ture

gain.

banking enterprise are over and phase three has just begun. In a little over a month of swift decision's and fast action the big banks have introduced one innovation after another - and the unites oored public is sitting up and taking notice.

It all started at the end of July when the authorities 5.15 relaxed the crodit squeeze, Banks told that the oftenlly celling on their

Ified-whleh WHS meant they were free to lend thoney on thede on discretion. At the same time the ban on cupital brases la finance hiro pmchase was removed.

73

20030,33 321 30ly

1 unid.

XD 302 30%

fleats

1.25 1.40 KUBEN Amaik.

100 1000

10000 Trust. 1520 1805 A Tawul Suncela

TILITIES

2.1 1.90

Tram, – XD 24 24.00 Star Ferry

Yaunatt

light

.....

124

Were inposed

During the year of the credit 15 exqueeze some of the bigger a

mire go-ahead banks had been When ¦ planting for this day.

they announced their plans the other tanks were compelled to follow.

the

ก

Adivances

tu ranged personal loan Held) of than three points "utility" urcounts for people with American Telephone and

Kodak the who, unt now, have not been Eastman bank-consious.

Was performers. Artloom

The holder of a personal che- | outstanding weak spot with in que decount will pay sixpence outside loss of seven points. for each cheque agslsus ine twopence (stamp duty) charged

New York Stock Exchange

American

on normal accounts. The holiler band volume was $3,101,000. of a now-lype account will not get any of the special banking Services open

to conventional customers, but milke them, he will not have to pay any bank charges.

Slock volume was 1,100,000 shares.

New York Stock Exchange volume was 3,000,000 shares,

Loews Incorp.

Tone Klar Cement Co. Lowenstein & Suns. MeDermott J. Hay McDonell Alnevalt (A

Stock Exge.) Mesabi Ini Corp,

20 Penn Salt Co.

3016 Phulp Morels

Pudder & făamble Co. Pubusker industries Pure Ult

Fladio Corporation

Radio Comp. Pret.

14% Republic Steel

40% Regula Metyl

Seats, Itrebuck & Co.

Saint Rog, Paper

Soooby, Kohtull

4395 | Sular Alienif

Sath Puerto Hiro, Sugar

Boutier National Gab

AB

班

Gruntman Aircraft

22

110

moro

lesden Newplit Corp.

at the best

cinemake Mining Co.

Ingersoll-Rand

103

Inland Steel Co

04

top

interchemical Corp.

19

the

in' Dininem Machines

37415 Dinicialr on

International Paper

109

IT & Tel

John-Manville Co.

45

Keiver Industry ...

13

Souler Co. (The)

Kansas Co. Power & Light

13

Kennecott Copper.......

0127

Buthern Itallway (Com

Exchange

Liggett Meyers Tob. Co. Lockheed Alretan

724

Standart Brands

Standard Oll ur En

244

3746

Sundal of NJ,

Oil of Ind

24th

3546

13

Texas Co

2715

Textro Inc.

Motorola Inc. Monomery Ward

Tine Inc.

17

Warrants

National Beuli Ca.

National Canh Reg. "A"

515.22

132.67

National Dairy Prod. National Tex

45

103

問砭

1724

35

15

11

504

43

closing average

Of a total 1,218 issues traded, Thly scheme opens up a vast new fleld of compuution be- 574 were higher, 383 lower. tween banks, and all the 17!- Dow-Jones source of mass-advertising are were; belag mobilised in the fight for: Invenient of banks into the working-class customers even hire-purchase business.

including television.

Phase One

116

93 MU 100

03

17 17.30

1420 2840 40 24.40

NX 23 251

21.00

Phase one

Was

the Hass

Beetr Macao M "Delegazione INDUSTRIALS

Cenent... Any Cun.

40 STORES. ETC. Daley

10.50 17.20 Watson.... 10.30 10.50

Lane, Chaw, 1.3 COTTONS

short

موانا

1

21

In

All of these new moves have very

ne practically

been becatre bank

given every

unreserved 2007.10 ssociated with an existing welconte by old hands" in

hire-purchase france house. the banking business us wel) as ' Sometimes the bunks bought a the public. And although they large stake in the HP business; have hardly had the fo colch 0.33 ometimes they required shares their breath, even the usually

ultra-conservative outright and took over control. Before this phase was over the 630 banks had livested nearly £40 "never-never" million in the

Texts .. 1.60

7

500

MISCELLANEOUS Eastert. HK Goesst.

(0)

INVESTMENTS Yanguze,

XD Ailled

TLM recently introduced Nanyang

an electronic trainer, which will be used for train- ing the future ground on- gineers of the company. The apparatus, which is unique in The Netherlands, purchased States guilders.

Thanks

was in the United and

20,000 cost

to more

This

5.15 5.30

500

200

6,30

Estimates

Washington, Sept. 8. The Department of Can-

the value meree extinates

States exports

ol

01

was an

increase of about three per cent over June exports of $1,408

United GROUP: Panels installert in the trainer, Our Company manufactures a varlous electric and electroie domestic and foreign 23:41*- very wide range of products in connections can be inade, whiten |chandise In July ut $1,444 the heavy engineering held. An | help to give the students an in-¦ million. imptant development is that sight Into dificult subjects like ¦ This prelimiz ry estimate

radio and radar. The trainer is sold the Department, specially meant for the purpose of Mustrating the theory by examples from actual practice.

Simulated defects can also be observed by means of engines Inst dials. The pupil can thus see for himself 'where he made mistakes and is enabled to cor- rent them.

In contracling for the desilyn and cupply of consile and com- prehtńsive projects in a “turn= key" basis. Alomle TheTry power slution--fe which the widest rroge of juipement is re- qube 5, ave enly one a xample of 11, as applies equally to miny contracts for ndning, steel werks and industrial plantis, Ad we are tirque in manufacturing within our own organisation nest of the equipment required for these projects, we have decided to centralise our effort and resources, and this is the fundamental

for Teuma

Che formation of our new Entheer- ing Group.

The long-term prospect la the manufacture of capital egip- ment is encouraging, particulur- jy when money becomes more freely available in the ovetsevie as well as in the home market.

10

TELE COMMUNICATIONS GROUP:—The year the Tele- communicationg Group cele. brated its Golden Jublice. For many years the group has mide Entisfactory contribution our prodis, but recent Govern- ment restrictions have resulted in reduelis in crders from the Post Office It has, therefore, had to turn is aftention even more to the export field,

EXPORTS AND OVERSEAS TRADING:-The G.E.C. has for a great number of years given the first priority to ex- port business. Over 25 per cent, of our outpu 15 exported Though best year's

total, £23,000,000, shows a drop com- pared with the previous year, In that year we were shipping an unusual offshore contract to the U.S.A. amounting £2,000,000.

ما

DVOR

Our policy is to tre this pre- sent period to expedite in alt our thetorien our proistamme of plant modernisation and to over- haul, deapen and niake more distribution efferlive all our Heliods, Even if general con- ditions do not move, as is my hope, i believe that we achieve come improvement,

will

The report and accounts were adopted.

13

The General Electric Co. Ltch of England known throughout the world as the G.B,C. represented In Hong Kong by The British Gégerhi Electric Co. Ltd.

The consolidated accounts cf

The General Eleckle Co. Ltd. show, that the capital employed Slot March 1988 arcunted 10 approximately 203,100,000 and that the profit for the year to thut dale after taxations embunits to approximately £1,605,000, The dividend on the Ordinary capllut is 10 per vent: for tho

year less income tax. The group bas over 62,000 employees.

|

|

In this department of the Technical Training School #1

Schiphol, 35 future ground en

gineers are now belag Tami- Harised with the present electronic equipment as well na the new equipment to be used in the DC-8 jet airlineT.

busines.

The next phase was the intro. duelion of "personal loans".

the first Again, once

scheme of the I was announerd, most

other big banks followed sult Bank customers (in some cases even new customers) may now borrow up to £500 for the pur- chase of such items as motor cara and refrigerators without | security,

30 Industrials 20 rail

15 utilities

63 #tocks 40 konda

Cum. future price Index

Closing Prices

Aides Inc. Any. economists Allied Chemicals have expressed pleasure at this Allied Mitia Inc.

All ChalĪDETR unsuspectedTM enterprise in bunk boardrooms,

Ain, Drake Shor

Minata Minin Mission Development Monsanto Chemical Co.

19.54 National Steel Corp. 118.4 New York Central

27.12

Norfolk & Western Ry 151.93 North Amer. Aviation

North-west Alines

n Mathieson

Ots Elevator.....

| Overn«!Rinuis Glas

Oxford Paper Co.

st Pacific Gan & Elec.

108

30.

214

40

Anterican Airline

American Cable & Radio Carni American yerlarnid cu.

401

4300

BIL

From an

economic point of view, what has happened during

Am. Gas & Electri the past month has given

Am. Home Prod... entirely new look to consumer Am. Mach. & dry credit.

Not least significantly American Metal it lans

given

the instalment Am. Sugas Ref.

American Smellag plan busing 3 DUTA respectability It never before.

of Amedan Tel & Tel bau American Teb. "B"

Anaconda Copper

First Time The banks association with These loube will early leading hire-purchase rest at 5 per cent, and will be

houses (which together

account for repayable in up to two yents by

over three-fifths of the busines; qual monthly instalments. In interest will be added

done by all finance houses) and the introduction outect and

of personal loan schemes both accompanied

great deal of publicity have spotlighted the unhappy state of affairs that existed In the HP business,

million, but a decline of 15 per the Icent from the $1,882 million of

exports

sum will

at

tola! the be divided by the

ly in July 1957-China' number of monthly payments, so

Mait Special.

Exchange Rates

the effective rate of interest is Jaround 9 per cent, They are, la refore, more expensive than normal over-drafts (which carry 6-8 per cent interest) but of Setting this drawback, the banks

cancel the loan

For the first

time

Armee Steel

Annour

Alles Cons. Minung Baldwin-Lima-ilusi. Eatmore & Ohlo Beneficial Financ

Bendik Aviation Corp. Benguet Cons

Bethlehem Steel

Blog Aeroplane

Borden (The)

| Burroughs Add Machine

Calif. Packing Corp. Campbell Soup Co. Canadian Park H. Case . L. Co Cat. Tractor

Celanese Corp.,

1 c. 1. T. Financial Corp. many Chase Manhai. Bank

people have become aware of Chryster Motors Lite rent cost of buying an Cluett Peabody article on the, instalment plan.

Colgate-Panolive Co.

Colombian Carbon Co. Beities was done in the logai have offered wondetal CACT ONKO market

this in the event of the death of theues to finance hire-purchase

The official ban on capital Commercial Credit min n the following tes US. collar (per qui

5.ne borrower, Sterng notes (par £1) .... 10:00 Australian notes (per £

1214

Phase three of the brighter Indonesian rupiah (per 100) 3.70 banking initiative was the in- 20.49 troduction this week by the 10 Midland. Bank (which led in

Slam teal iper 1005 Singapore (Strofts)

COMMODITY PRICES

FOREIGN EXCHANGE

NEW YORK Closing rates were:

Canada,

England official

England 30-days England 90-day' AUSTOJIC New Zealand South Africa Delgium Argu Brazil Uruguay India ... Pakistan

LONDON

Closing rates were:

New York Montreal Amsterdam Cupenhagen Frankfurt Milan Stockholm Vicuna Zurich Others unchanged

1.02-9/22 2.80/10

70 26700F 234-3/16 2.79-3/10 2.00-9/10

rituntion. At lower levels liquidation was well absorbed. No. 1 rubber per 1. Sept. 111-812

"Get 115-B1% No. 3 rubber per lb. Sept. 10%-80%) No. 3 rubber per lb. Sept. 77-27-1/3 No, a rubber per lui. Sept. 72-73 Spot rubber unbated .. 1-813

Hankel ere

No. 1 pale Preve

LONDON

63-63

67-0

The rubber market was dull with spot quoted at 23-13/16 pence per lb.

Prices:

NRA rpot

Oct.

Nov.

Seitenent house tenut

Dec, Cet/De 0200-11/10 Jan Mar 0213

244-22

24-2015 24-2410

General markLE, elf sants, porta: 239) -2275

.0000

Sept

.1400

Oct.

2100

2102

2.50-1/18 2.001

2733-2.74

10.3075-10.5014 19.3333-1953. 14.85373 1.004 173714-1737 11737-31741 14.4532-34.454-** *2.37-72,40 12.10-12-201

-U.P.I.

RUBBER

NEW YORK

Rex rubber closed today 10 to 20 points lower with sales of 24

contracts.

Closing prices:

September

November

March

MA

July

Sept.

AMSTERDAM

Estate crepe is Oct.

Esate coupe tilck Oct.›

P.1.

COTTON

NEW YORK

Prives of, coiton futures closed today as follows:

Dee:

Spot: 36. Lon: Oct: 35.31; 35.73; Mat: 36.39; May: 35.90; July: 11.30; Oct; 32.5; Der: 11:54.

NEW ORLEANS

-Prices of cotton futures closed

today as follows:

Spot: 35.10 Oct: 33, 28: He 35.70: Mar: 30,10; May: 35.00. Jay: 34.30 Oct: 39,00; Dec: 31.07.

LIVERPOOL

Collon future cloalugs, pence per lb, were as follows:

Amèrican Contract

Mar/Apr.

was not available.

Total sales at these 13 markets were 10,102 bales.-U.P.I.

SUCAR

New York, Sept. 8, World No. 4 sugar closed to- day unchanged to four Jower.

No. 0

poluts

domestle sugar closed unchanged to one point higher with sales of 12 contracts.

Contract No. 4 (world)

Jan: 3,63: Mar:

Mo 45 July 30

and

mushroom

expensive for them to

count) but I

glas Aircraft Dow Chemicals Dupont de Nembum Eastern Airline

Consolidated Edn. Opinionwealth Elve. not stop the

Continental Oll of Del. growth of small HP firms (there own Zellerbach

Cuban Ainer. Sugar were 1,227 of them at the last

Diamond Alkai official

mude it Diamond Match

ruise money and the cost was borne by the hire-purchaser.

The new tur, of events will El Paso National Cas

Fastman Kenink strengthen the bigger companies Family Finance Corv and torce the smaller fly-by-Ford Molar.....

Firestone Tyre & Rubber night Arms, out of business. deneral Dynamio With conventional means of ob- General Efecte fining nance oxe again, opra General Foods

General Motors to them the remaining com- Gen. Pub. Ut. peules wat be able to reduce Gen, Tyre & Rubber ihely charges.

And the bunks personal loan schemes will be a salutary reminder to Iriending burrowers that they musy shop for credit Just as carefully as they shop for a new car

television sel.

or

The new set-up should also lead to an expansion of demand for the

SELECTIVE DEMAND

כב

kind of goods usually IN LONDON

bought on credit.

from

Jorge

Quite apart making efferlive the. peletal demand of a

London, Sept. 8. ber of people "who don't Solective demand sont stocks believe in hire-purchase", it has afready caused a competitive higher again today in cutting of interest rates by re quiet trading. tai organisations which nonce

Out: 3.50; Spot-(rents per 1. fub | their own credit foclilies. Cuba: 3.40.

Total sales: 135 contracts.

Open interest; 6,003 contcacia,

Contract No. 0 (domestio)

Nov: 5.34; Marchy; 6.65; May: 5.00;

July: 3.73; Sept: 8.73; Spot-cents per

13. elf NY ex-duty): 5.85.

Total ; 12 contracta,

Open

U.P.I.

Expansion

Strength in the British pound sterling in foreign exchange denlings helped buoy British Government bonds, Some of Now that the

banks have the gilt-edged securities closed

predict that given the lead, I

up as much as 3/0. the Board of Trade wi tbollsh the statutorTY controls

Foreign dollar bonds one-third mixed. deposit and a maximum of two years to repay.

interval; 031 contracts-on lire-purchase

METALS

NEW YORK

Prices of metal futures

today in cents lows:

Lead Sept.

inzine

Oct.

Sept.

Oct.

Copper Sept.

soon

Most economists agroe this can now be done with

Pan American Airways Paramount Pictures

Penny J. C. Co,

Sterp Rock (Tovanie Exge Drug Co.

Stevan Camp.

Studebaker-Packard Corp.

Sunline Mining ...

Swift & Co.

Tide Water Am Ol

ZY!-Cams.

Twentieth Century Fox Falim

Union Oll of Cal

Uruan l'neitie Hallway

Vnned Aircraft

United Gas Corp.

UB roll "D"

UB. Gypar

U.S. Live C

1.5. Smeling

U.S. Steel 7 P.C. PF" Warner Bros.

Wellinghouse Air Brake Westinghouse Electriz Western Union Tel. Co Weil Va. Pulp & Paper Woolworth

P.OB⋅IE.A

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO

Ontwi

"SOMALI"

Leaves Louđón

Bth August

Due Hongkong

19th September

"CARTHAGE" tist August

"JALSETTE"

"SUNDA”

"CANTON"

Upward

"SURAT"

"CARTHAGE"

"ADEN"

"SOMALI"

"SALSETTE"

"CANTON"

2240 September

Send August 10 October

7th September 2015 Octobok

20th October 17th September

Leaves Hongkong Das Londo

10 September 23rd October

20th September 27th October

28th September 1st November

18th October

22nd October

24th October

25th November

17th December

24th November

Via 'pore, Penang, Colombo, Bombay, Aden & Pt. Bald.

"SOMALI" call 'pore, P. S'wo.. "EURAT" And l'evang, Aden, fr. Bald, Havre, London, Hamburg, Rotterdam & Antwerp.

BRITISH INDIA 5.N CO., LTD.

"OLINDA"

due 18th Sept. mur 19th Sept,

"BANGOLA" bue 13th Sept.

kalla 13th Sept.

from Japan for Singapore, Penang, Rangoon. Caleutia & CANIAgong

from Calcutta, Rangoon,

Penang & Bingapore (от Јарка

P. & O./B, I. JOINT SERVICE

"OZARDA"

que with Sept. Bali 12th Sept.

were

"PALIKONDA due 22nd Sept.

Leading industrials showed That small gains Rolls-Royce was demand. strong on investment safety and some go so far as to Aircrafts were

19 0 ntrong say that it is necessary to

Broup. Gold and copper issues prevent a serious recession in met demand but other base the industries producing durable metals were steady.

Weekn

consumer goods.

Two

clused go the Cohen Council said that

Dir lb. as fol- the policy should now aim at Petroleum up two shillings on

10.04b

10,120 0.400

Oils were strong with British

a now decovery.-U.P.I.

Now

an expansion of demand, albelt “gradually with caution.

the far-from-exuberant London

0.40b und Cambridge

25.81b

25.320

93.00b

$3.501

Prices of melais closed today

In sterling per long ton as fol

Economic

Bulletin has come down on the Agreed Merchant

side of the expansionials.

"What is waisted

"It said.

something

"is a general expansive force to

raise the output to

nearer ts potential levél and

Rates

Canadian Dollors, Maximum

give ab incentive to further in- Selling 1076. Minimum Buying Buyers Sellers vezimat."

28.7

Det/Nav.

23.03

Oct.

Dec/Jar

23.00

1

Repl

PIST

Mar/Apr.

Oci,

May/J

2337

LONDON

July/Aug.

2010

Mixed Contract

23.10

Oct/Nov.

24.05

Dec/Jan.

24.03

Jowa;

24.00

MAY/JUNE

23.05

JulyZAUR.

SAO PAULO 23.05

Tin

Sput

3-lanth

3.30 o.

Cotton future closings, in cruzeiros per kilo were as fol-j Spot lowe:

-month Sepl, Oct. Dec. and March were Lead at hele vityructed.

Sept. July 01.10.

Copper

Deu

It the United States, then 1st hair

Sept.

INC.

The rubber market was duli, Prices closed today in guilders per kilogram, c.lf. September as follows:

No. 1 rubber ***** No. 2 rubber No. 3 rubber ........

No. I crepe

2,20 nom. 3.10 orn, 40000 2,45 nom

BINGAFORE

Despite rather better oVériES

advices the market opened lower average price of one-inch cotton

on possible casting of Formona, i al 14 designated spot markets i

73015

72:14 727

For a start, it went on. "olb might në well ablish all the hire-purchase controls, which 2001 100% typically reshiet denafil in the 2001, 207

Industries, with a long-run pro-

7044. 11pect or extention."

7216

Well, the,, bühics have shot

17 T.T; 17-3/18 0/D.

Silver Prices

London, Sept. 8. verwes quoted today at -x of the sky. Now it is up to the Thy perte for spot dad 75%

Government-London Express ponce for forward (against 70

and 70 pence proviously)--UPI.

00 $199

Service.

1

*

from Japan

for Singapore, Duba Cochin, Kuwall. Demuli, Khorramshahr & Kara- chi

from Persian Gulf. Karachi, Kandia, Borts bay, Cochin Singa

pore

Kails 23rd Sept for Japan

EASTERN & AUSTRALIAN 5.5. CO., LTD.

Gue 131 Sept.

from Australia for Japan

"NELLORE"

from Japan & Shanghai "ARAFURA” duo 10th Sept.

salla Rist Beph for Amirulla

All voziala have Iberty, to enli at any

ports on

or of the route & the route & saltings ara subject

to change or amendment with 'or without notice.

For full particulars apply to: MACKINNON. MACKENZIE & CA. OF HONG KONG LTD. Telephonn Nos. 27721-4,

排