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THE HONG KONG WEEKLY PRESS &
disappointing year just passed. We share with you the hope that during the present year there will be such a revival of trade as will justify the continuance of the same level of return to Share- holders as is now recommended, and that the warning you give that without that revival, the high level of past years may not be possible" will be found to have been unnecessary.
C
Customs.
now
Reference is made to the Chinese Maritime Customs returns of last year at over 82 million Haikwan Taels, being a rise of 13 millions over the previous year. Although constituting record and remarkable figures, these should not be exag- gerated for the reasons you have given; furthermore, unless and until there is clear evidence that merchandise is moving into the in- terior markets of China it cannot be confidently asserted that a period of prosperity is immediate- ly at hand, but, given a fair mea- sure of political stability in China throughout the year, with continu- ed industrial peace at Home and in Europe generally, and the faithful carrying out of the new Customs tariff without the imposi- tion of any further vexatious taxes on Imports, the coming year should show a considerable improvement on past years, and bring a much needed relief to both Chinese and foreign merchant firms.
One of
the most gratifying features of the speech is the pro- nouncement that the anti-British agitation of two or three years ago has practically vanished, and that a new spirit of friendliness is now making itself felt. I am inclined to say rather that the old spirit of friendliness is becoming more apparent. Whichever it be, We are in entire agreement that we are much indebted to H.M. Repre- sentative in Peking, and, as gards Canton and South China, to H.E. the Governor of Hong Kong. We congratulate the Directors and Chief Manager on the open- ing of the
Kowloon Sub- Agency, which, I am sure will be of service to the ever-increasing population on the mainland. my own part I am sufficiently_op- timistic of the future of Kowloon
as
new
re-
For
to predict that before many years, it will be necessary to have our own premises.
I am sure this meeting will con- firm the action of the Directors in voting the bonus of 10 per cent. on the salaries to the staff. If the Bank's staff in all its branches are as hard worked as they are
at Head Office they well deserve this recognition of good service.
I cannot do better than conclude my remarks by quoting from the address of the Rt. Hon. Mr. Re- ginald McKenna at the recent general meeting of the Midland Bank in London. His remarks, I think you will agree, are peculiar- ly appropriate to conditions ob- taining in China at the present time: Ten years have passed since the conclusion of the most recent and, we devoutly hope, the last, great war in the world's his- tory. They have constituted a de- cade of grave difficulties involving problems of exceptional magnitude and complexity. Disappointments have been frequent and many set-
backs have been suffered. Peace between nations and within nations is a primary condition to our wel- fare, and whatever the temporary state of trade, however, slow we are in solving the financial and industrial problems which confront us we shall look forward with un- shakable confidence to the time when the better relationships now established shall become the foundation of general and per- manent well-being." Mr. Chair- man and Gentlemen, I have very much pleasure in seconding the adoption of the report and state- ment of accounts.
The motion was carried.
OTHER BUSINESS.
Mr. H. R. B. Hancock proposed hat the appointments of Messrs
A. Plummer, B. D. F. Beith and B. Lander Lewis be confirm- ed and that Messrs. H. P. White, T. G. Weall and W. H. Bell be re-lected Directors. Mr. K. S. Morison seconded, and the motion was carried.
M J. H. Taggart proposed that Mr. C. Bernard Brown and Mr. John Fleming be re-elected Audi- tors. Mr. E. L. Sim seconded, and the motion was carried.
This was all the business, and the Chairman announced that dividend warrants would be ready on Monday.
EXTRAORDINARY MEETING.
Subsequently, an extraordinary general meeting was held, at which the resolution passed at the meet- ing of February 2nd was confirm- ed.
The Chairman proposed the con- firmation of the resolution, which was seconded by Mr. T. E. Pearce and unanimously greed to.
THOSE PRESENT.
Those present were Mr. A. H. Compton (Chairan), Messrs. N. S. Brown (Deputy Chairman), B.
D.
F.
[March 1st, 1929,
CORRESPONDENCE.
THE FLYING CLUB.
[T THE EDITOR OF THE
DAILY PRESS."]
HONG KONG
SR-At the Hong Kong Univer- sity on the evening of the 22nd I was able to announce that Chinese members would be welcomed in the Scapone Club. This is a very im- portant step in the history of the Club, and I feel that the Club's Club's future is an assured success.
It will be remembered that in September last a small "Working Committe" was formed to carry out the preliminary organisation. The Committee now desire to com- plete that organisation, and bring the Club to active existence. To do this it is necessary to communi- cate with people who are interest- ed, so I would request all those, who would like to join the Club or support the movement, although they may not wish to fly them- selves, to write to me as soon as possible. In particular I wish to hear from the Chinese residents in the Colony, and it would greatly assist me, and the Committee, if one or two Chinese gentlemen would come forward with an offer to assist in the preliminary or- ganisation. Letters expressing in- terest, or a desire to join the Club will not commit the writer; they will only cause this name to be placed on the Clu register, so that the organisers ca circularise the right people.
It is expected that a meeting will be held in March, when the final Rules and Regulations can be discussed, and a Committee select- cd, I would therefore request that replies be forwarded as soon possible.
as
I take this opportunity of ex- plaining that Members who join the Club to learn to fly, would be taught by a fully qualified Instruc- tor, and that 'Associate Members" that is, those who do not actually wish to learn to fly, but wish to support the Club, will be able to obtain flights at a small cost.
""
F. Beith, W H. Bell, B. Lander Lewis, C. G. S. Mackie, W. E. L. Pattende, J. A. Plum- mer, T. G. Weall, H. P. White (Court of Directors) Hon. Mr. A. C. Hynes (Chief Manager); and the following shareholders: Hon. Sir Henry Pollock, Ron. Mr. W. E. L. Shenton, Hon. Mr. J. Owen Hughes, DE R. A. Castro Basto, Messrs. Ho Kom Tong, J. Wright, J E. Joseph, Chau Shu Ming, Fung Sang Un, J. Ormis- ton, A. Kennedy, G. G. N Tinson, D. V. Steavenson, J. S. Mc- Eachran R. A. Dastur P.
K. Kwok, M. Manuk, A. B. Haworth, K. Stewart-Smith, Po Cheung Wan, B. L. Seton-Winton, E. S: Abraham, Chan Lim Pak, J. M. Alves H. S. Hills, E. Thomas, J. Fleming, S. M. Churn, H. Dixon, Hoeung, Chua Seng Chu, B. Montargis, P. S. Cassidy, & I. Cootes, R. A. Green, W. E. Van Ep J. M. Castro Basto, V. M. Gryburn, H. R. B. Hancock, K.plane fequired is not expensive, S. Morrison, J. H. Taggart, E. . Sm, T. E. Pearce, D. J. Lew,
E. Towns, Ho Wing, ancini, Chan Wing Keu, E. H Summers, W. S. Bailey, E. M. Raymond, A. Stevenson, J. D. Kinnaird, A. S. Gubbay, H. R. Stuart, E. W. Stapleton, D. H. Cooper and O. I. Ellis.
Sir Robert Ho Tung has request- ed me to enter his name for the
"Associate Member,' Club, as an and I think that many we known residents will follow his excellent example ip the course of the next few days.
If there is any lady or gen lemau who would like to support the Club wit the gift of an aeroplane, I shall be pleased to discuss this with them. In making this sug- gestion, it is perhaps necessary to explain that the type of Light Mea-
and that many public spirited people have presented aeroplanes to Clubs in other parts of the E- pire. Perhaps there are one r two ho would join together and present one.-Yours, etc.,
R. VAUGHAN-FOWLER. Peninsula Hotel, February 24th.
ninsula
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