TELEGRAMS.
[THOUGH ALUTER'S AGENCY.] JAPANESE SHIPPING
COMPETITION..
BRITISH GOVERNMENT ENDEAVOURING TO ARRANGE WITH JAPAN.
LONDON, February 11th.
TRE
COMPANT MEETING.
NGKONG DAILY PREFA, WEDNESDAY, FEBRUARY 12TH, 1918.
to make a speed of 15 knots. Her dimen sions will be: Extreme length 290 feet, HONGKONG, CÂNTON AND MACAO breadth of beam at main deck 32 feet and
STEAMBOAT COMPANY.
The ordinary` half-yearly meeting of shareholders in the above Company was held yesterday at the offices of the Com- pany. Mr. R. Fuhrmann presided, and there were also present: Hoa. Mr. C. H. Ross, Messrs. H. A. Siebs, F. Lieb, F. H. (director), W. E. Clarke (secretary), T. F. Hough, J. M. Alves, J. M. E) Machado, M. Northcote, and H-Schluter.
The Secretary, having read the notice convening the meeting
COMPANY REPORT.
HONGKONG AND SHANGHAI BANKING CORPORATION,
The ninety-fifth report of the court of directors states;~
on the 7 foet water lian 48 feet. Her light load draft will be 7 feet and wifl 367 tons of deadweight 8 feet 1 in, mean draft. Her engines will develope over 3,000
Gentlemen, The directors have now to I.H.P. with the boiler-working pressure of 180 16. She will be built on the cellu-submit to you a general statement of the lar double-bottom pricciple and of great affairs of the Bank, and balance sheet strength. Her accommodation for all for the half-year ending 31st December, classes of passengers will be of the very
1912.
GENERAL PROFIT AND LOSS ACCOUNT, 31ST DECKABER, 1912.
Dr.
To amounts writton off:.. .--.
Itemuneration to directors.. $ To dividend account:-
Dividend
per share on 120,000 share ---£240,000 at
T
21482,315,577:89 Bonus 5/- per
share од 120,000 shares -£30,000 at 214-
In the House of Commons on Monday Armstrong. G. Friesland, R. Laurenzbest and calculated to meet the changing ing $1,950,288.84, balance brought forward To transfer to silvor reserve
Sir J. D. Rees addressed a question call ing attention to the subsidised Nippon Yusen Kaisha undercutting British rates between Hongkong, Singapore. Rangoon, and Calcutta, while the British were excluded from the Japanese coasting krade. He asked what immediate action
was proposed.
Mr. Acland replied that Japan had been approached with a view to securing a satisfactory arrangement. Proposals for this object were under consideration, and in view of these negotiations im mediate retaliatory action excluding Japanese steamers from the Indian coast
ing trade were not contemplated.
OBITUARY.
LONDON, February 1ita. The death is announend of the Scottish artist, Sir George Reid, who was Presi dent of the Royal Scottish Academy from 1801 to 1902. He was born at Aberdeen on October 31st, 1941.
www.
requirements of the East. Tho buildors hope to have the vessel completed by Sep tember of the current year. As decided at the last general meeting and proposed and confirmed at two extraordinary meet ings held in October and November last the revised articles of association were adopted, and in accordance therewith this is the last occasion we shall foregather in attendance at a half-yearly meeting. But please rest assured that your interests will as usual be safeguarded, and, if the profits of the Company warrant it, an interim dividend will be declared.
Mr. F. A.
Gomes resigned his seat on the Board at
the end of the year after serving on the
fund
The net profits for that period, includ-
from last account, after paying all charges, deducting interest paid and due,To transfer to Bank premises and making provision for bad and doubt-To lanes forward to nort ful accounts, amount to $5,031,435.48.
The directors recommend the transfer
of $200,000 from the profit and loss ac- count to credit of the silver roserve fund. which fund will then stand at $17,200,000.
They also recommend writing off Bank premises account the sum of $200,000.
After making these transfers and deducting remuneration to directors there. remains for appropriation 84,610,435,48, out of which the directors recommend the
sterling per share, ui, £240,000, und a
payment a dividend of two pounds
The CHAIRMAN said Gentlemen,-The report and statement of accounts with auditors' report attached having been in your hands for the usual period, I will. with your permission, take them as read. In view of the continued keen competition experienced on all the lines operated by the Company, the amount standing at credit of proft and loss account for the period under review will. I trust, be con sidered satisfactory by shareholders, and meet with your approval. The statement since March, 1884, and his valuable advice of accounts, as usual, is so plainly set forth and guidance has always been acceptable that they do not require much further to his colleagues on the Board, and it is with much regret "that we now lose his elucidation on my part more than to men- service. I do not know of anything else tion that investments in shares and deben-calling for special mention, but should Lures of public companies have been in- creased by $60,465 inclusive of 825,903.75 any shareholders require further informa tion, I shall have much pleasure in as adjusted in appreciation in value
answering any questions. accordance with quotations current on 30th December last. Loans on mortgage remain the same, the loans advanced show a satisfactory margin of safety, the proper tics having been inspected and re-valued by the Company's surveyors, Messrs. Palmer & Turner. perties at Canton has been reduced by the amount recovered from insuraner owing to the recent big fire that occurred ut Canton on the 9th November last, If you Sir, I tag to be allowed the privilege follow these accounts as issued from year of replying to the statement which to your you will notice the gradual writ appears in the Daily Press of yesterdaying down process of steamers, wharves to the effect that you have been "authori and properties belonging to the Company. tatively informed that Mr. Lanzius was and I am sure shareholders will appre rver engaged at all by Sir Paul Chator ciate this method as adopted by your as a mining engineer or otherwise how directors The net earnings of steamers soever," and that, Sir Paul Chator compare favourably with the previous knows nothing of Mr Lausius qualifica-half-year tions as a Mining Engineer. nor how long for 1911 Mr. Lanzius may have purported to net pairs as such."
hope the proposed appropriations will directorate for the long term of 29 years, bonus of Ave shillings sterling per share,
CORRESPONDENCE. THE QUESTION OF MR. LANZIUS QUALIFICATIONS.
TO THE EDITOR OF THE "HONGKONG DAILY
PRESS.
There being no questions, The CHAIRMAN propesid the adoption of the report and statement of accounts as presented.
↑
viz., £30,000, amounting in all to £270,000, which at 2/-, the rate of the day, will absorb $2,605,625. 13.
The balance, $2,011,410.35, to be carried to new profit and loss account.
Directors.Mr. F. H.Armstrong has been elected Chairman for the year 1913, and the Honourable Mr. C. H. Hoss deputy Chairman.
Mr. G. H. Medhurst and Mr. A. Forbes having resigned their seats on leaving the Colony, Mr. 6. H. Dodwell and Mr. J. A. Plummer have been invited to fill the vacancies; these appointments require confirmation at this meeting.
Mr. G. Friesland, Mr. H. A, Siebs and Mr. C. S. Gubbay retire in rotation, but, being eligible for reelection, offer them solves accordingly.
ABSTRACT OF ASSETS AND LIABILITIES, 319T DECEMBER, · 1912.
LIABILITIES,
Pakk-up capital Sterling reserve fund,
£1,500,000 ex, 2/- Silver reserve fund Marine insurance recount Nores in circulation:
(Authorise
e-decount
· half-year
By balance of un- divided profits, 30th June. 1912 ......
Cr.
INTIMATIONS
15,000.00 OVERWORK,
FATIGUE,
EXPOSURE
280,447.24-
2,605,025:13
200,000.00
The Food
200,000.00
2,011,410,35
$5.031,495.48
Question
........................81,960,288.64
By amount of net profits for the six months end- ing älst Decen- ber, 1912, after making provi sion for bad and loubtful debts, deduct-
ing alt CX- penses and in- terest paid and
duc
3,071,146.81
All disappear or are alleviated by the gentle stimulus of a glass of PEMRTIN'S CLUB SHERRY, 85.031,495.49 The delicious aroma, together with its inviting comfort, drives away 85,031,435.48
weariness and cheers on to further
efforts.
STERLING RESERVE FUND. To balance
£1,500,000 a ex. 2/- 315,000.000.00 (invested in sterling
secarities):
1
$15,000,000.00
By balance
30th June. 1912;£1,500,000 @ ex. 2/- $15,000,000.00
$15,000,000.00.
..8 17,200,000.00
-17,200,000.00
SILVER RESERVE PEND,
been
To balance
$15,000,000.00
15,000,000.00 17,000,000.00
By balance 30th June, 1912 ... 17,000,000.00 By transfer from profit and
loss account.....
N. J. STABB, Chief Manager.
200,000.00
$17,200,000,00
A. CECIL HYNEs, Acting Chief Accountant.
H. A. SIERS,
F. H. ÁnxeтRONG,
E. SHILLIN,
}
Directors.
We have compared the above statement
250,000.00 with the hooks, vouchers and securities at
Mr. flotan-I rise to second the adop. tion of the report and accounts. At the
Auditors. The accounts bare The value of pro- same time I congratulate the directors and
audited by Mr. W. Hutton Potts and Mr. management on the presentation of such, W. C. Bonnar, who offer themselves for satisfactory figures. A reference to the re-election. minutes of our last half-yearly meeting
E. SHELLIM,
Chairmau. will remind you that when the nccessory
Hongkong, 11th February, 1913. remodelling of our articles of association was mooted I threw out the suggestion that in common with the practice adopted by other companies successfully working in the Colony one meeting per annum might suffice for us. This suggestion was given effect to and was incorporated in the new articles under which we hence forth work. We to-day have the assurance of oar Chairman that to use his own words our interests will be safeguarded and that if the profits of the Company. warrant the payment of interim dividends they will be declared. Gentlemen, I put to you that we can safely leave things at that with the hope that the era of
continue and permit of our directors. giving effect to this understanding by declaring such interim dividends as the results of the working permit. With re- gard to the now steamer contracted for. I feel sure that, with me, you all anti-
and corresponding period Amounts expended in re arc always heavier. in the second half of the year, 26 more 1-Why did Sir Paul Chater allow my vessels are docked at this time by taking name to appear in the articles of associa advantage of the finer weather and free tion of the Hongkong Iron Mining Comdom from typhoons. Income from invest pany as a Mining Engineer, if he did not ments is about the usual average. consider I had the necessary qualifications 1 Aniount of $12,133.86 has been debited to prosperity we are at present enjoying may i
.2.- my report about that mine ever contradicted? As a matter of fact, it was corroborated by Mr. Eisler and Mr. Barker, both mining experts of consider able experience. One of these gentlemen in bis report also favourably commented upon the work done by me in connection
with that mine.
3.—In an agreement dated 10th October, 1906, and signed by Sir Paul Chater and the late Sir H. N. Mudy, it is stated that 1, as mining engineer, had conducted uperations in prospecting, exploiting, and discovering iron ore deposits and in developing and opening up the mines.
4-Though I have had experience as a mining engineer in South Africa, Austra lia, Klondyke and elsewhere, I will con- ane myself to indicating what I have done in the vicinity of Hongkong,
(a) Can Sir Paul Chater deny that -be-freonateaded me to Father Robert of this French Mission to proceed on their account to Tonkin to report on five mining propositions there i
(8.) Why did he pay me at the rate of $3,000 per month if I did not possess mining experience ?
(c) Can he deny that my reports made about the Tonkin properties have not turned out to be correct?
(d) Why did he engage me again to proceed to Borneo to report upon a coal
ments
: An
"Special Repairs Fund" for extraordia ary repairs to the ss. Honani and cost of increased stateroom accommodation on the steamer leunghon. These improve
are necessitated by increased demand for cabin traffic and to fulfil a desire on the part of your Board to keep the vessels of the fleet in an up-to-date state. Your directors having been advised by experts that the s.s. Heungshan should be fitted with double funnels to secure greater economy in the working of her boilers, it was decided to adopt the Sys tem, and I am pleased to say that the result is very satisfactory. The loss in exchange by subsidiarylver coinage during the six months' working amounted to $24,081.58. With reference to this loss. for loss it is, it proves what a mistaken idea it is to say such loss can be offset by charging higher rates. Such an absurdity could not work with all the opposition vessels on the river charging 10 cents for deck passages to and from Canton during the whole of the period under review Such a contingency is regulated by the forces in competition. I am pleased to inform you that after somewhat pru. tracted negotiations with the Chinese Canton, a provincial authorities at renewal of the lease of the Company's wharf site at Canton has been granted.
which will enable us to start rebuilding the wharf which was destroyed by fire on the 9th November last, At the previous mine at the same remuneration?
(c) Was not my report on that sub-meeting of shareholders held in August ject correct i
I am certain that Father Robert will satisfy any one who inakes inquities. that my reports on the matters with which be
was concerned were correct.
I hope I have shown from this that when I write a report on a property I know what I am talking about. I am very glad that another engineer is coming to report on the New Territory project.
Sir Paul Chater was told by me in 1906 that there was tin in that locality. At that time tin was only worth £90 a ton. I told Sir Paul that at that price dredging would pay. To-day the price of tin is about £225 per ton.
last the Chairman mentioned that your directors had under consideration. the question of building of a new steamer, and it now gives me pleasure to inform you that the Board's decision to construct a vessel suitable for either the Canton or Macao service was arrived at after very careful consideration. By this means it will be possible to immediately replace one of our steamers in the Canton service should it be found necessary, while, the new vessel will in ordinary be employed on the Macuo line. The difficulty was to so plan and arrange the vessel as to he particularly suitable for either service. The result can be seen by inspection of the plan produced.
From several tenders
received the contract was awarded to the I may add that an action is at the Hongkong and Whampoa Dock Co., Ltd.. present moment pending in which I am
on the 30th August last, at a price accept claiming from Sir Paul Chater a considerable to your Board, and shareholders are able sum for remuneration of my services to be congratulated that the contract was as mining engineer.-I am, yours truly,
settled thus early, as prices of all construc- GEO. LANZIUS.
tion material have since risen from 20 to 30 per cent. This vessel will be built to Lloyd's specifications and Board of Trade requirements and of the very best material She will be of the and workmanship.
[Mr. Lanzius has submitted for our inspection the printed articles of association of the Iron Mining Company, in which he is described as a mining engineer, and also the agreement referred to in paragraph 3. ED., II.D.P.]
issue. against securities and esin deposited with the crown agenta for the colonice and
their trustees). $15,000,000.00 Additional (*. issaie autho rised by Hong-
Long
Ordi- nances against coin. Jodged with the Hong- kong stern-
ment
Current
•
9,826,168.00
recounts:--- Silver ......$121,122,489.47 Gold, £5,685,-
448 Gs. 10. 54,839,417.78
Silver $70,409,214.40 Gold, £4.981,-
cipate with pleasurable feeling this addi- tion to our fleet. It cannot but be satisfactory to the shareholders to be in a position to confirm the action of the Board Fixed deposits:-- in all they have done in this connection, which encourages us to look forward to the time when she will take her place in the working schedule and become an earn. ing factor. We welcome the Chairman's statement that the difficulties in connec tion with the renewal of the Canton Wharf Lease have been overcome, which, in itself, is an eloquent testimonial to the assiduous work of our management, staff and the agents concerned. I'm sure I voice your intentions when I place on re cord our appreciation of this vexatious matter having been so ably handled. With these remarks I second the adoption of the report and accounts.
ness
Pro-
482 17x. 3d. 42,075,403.13
Bills payable (including drafts on London bankers, call loans and short tight draw. office 04 ings
London against bills receivable anch bullion shipments) Acceptances un constituents Profit and loss account Liability on hills of exchange re-discounted. £9,263,783 3. Id., of which 27,067,717 24, 20. have since run off.
account of
ASSETS.
The motion was carried unanimously. Mr. NORTHCOTE proposed that Messre, Cash A. O'D. Gourdin and W. H. Potts De Cain lodged with the Hung- kong Government against elected auditors for the ensuing year at
authorised and/or excess a remuneration of $250 each.
note circulation Mr. SCHLUTER seconded, and the motion
Bullion in hand and in transit was carried unanimously
Government rupee The CHAIRMAN-That concludes the busi- Indian
of the meeting, gentlemen. paper Dividend warrants are now ready and Colonial and other securities... may be obtained upon application. Sterling reserve fund invest- Thank you for your attendance.
ments, viz.: to thank £1,200 DOL creding, he said I wish
21 per expressions of confidence in the man- Mr. Hough particularly for the kind agement of this Company and for the
Consola kind wishes for its future. On behalf of
at 75 (of which the directors, I do not think that I should
£250,000 let this opportunity pass without saying some words of praise for our secretary, Mr. Clarke, to whose untiring zeal and energy and great care, assisted by Mr. Arnold, much of the success of the Com pany is due.
Mr. CLARKE-Thank you, Mr. Chair man, for your kind remarks. The pros perity of the Company is due to the the commanders and floating staff, Mr. Arnold and the staff inside. engineers, and to the help received from
This concluded the business.
THE INTERNATIONAL BANKING CORPORATION.
Gen. Thomas H. Hubbard, who has been both Chairman of the Board and President of the International Banking Corporation, has been relieved at his own request of part of his duties. Mr. H. T. 3. Green, formerly Agent in Yokohamh, who became manager in 1900 and general manager in 1910, has been elected pre- sident and general manager. Gen. Hub- bard will continue as chairman. At the nnual meeting of the stockholders Frank. P. Frazier, Minor C. Keith, William Barclay Parsons, and J. G. White were elected directors, succeeding J. S. Fearod, twin-screw type with engines and boilers, C. Pierce, and H, S. Manning.
cent.
lodged with the Bank of England
2 B
Special L'o ndon reserve). £285,000
3
per cent.
exche-
qaer
bonds
due 1930
at 93.... £40 0.500 other sterling - se curi-
ties, writ- ten down
to
£000,000
265,050
334,950 £1,500,000 @ cx. 2/1⁄2 Bills discounted, loans and
eredits Bills receivable
24,820,168.00
175,960,907,25
the head office, and with the returns from the various branches and agencies, and have found the same to be correct.
J. W. C. BONNAR,Auditors. W. HUTTON POTTE
Hongkong, 11th February, 1913.
PARLIAMENTARIANS AND THEIR
SPEECHES.
SOLE AGENTS
H. RUTTONJEE
& SON,
Wine and Spirit Merchants.
131
Chs. J. Gaupp
& Co.,
ALEXANDRA Buildings,
CHATEE ROAD.
CHRONOMETER-MAKERS,
WATCHMAKERS.
JEWELLERS AND OPTICIANS
FINE
DIAMOND
JEWELLERY
A SPECIALITY.
GOLD AND SILVER WATCHES:
AND SILVER BRACELET
WATCHES.
ANGLISH MOUNTED CHINESE JADE
JEWELLERY.
Who write the speeches of sorde at any, rate of our Parliamentarians! A mysteri ous individual known as S. Rosenbaum" suddenly swam into the Parliamentary ken a few weeks ago, and, from oli ae counts he seems to be quite a formidable personage. He is in fact the brains of the Unionist party, and supplies all the facts and figures and most of the purple He ia patches in Unionist oratory. always at the gallery, invisible himself ENGLISH, AMERICAN AND SWISS but hearing every fine thing of his own manufacture spoken by the political human gramophones to whose intellectual nccds he ministers. The Westminster Gazelle recalls the fact that Mr. ROSE GOLD 112,484,619.62 baum is not the first person who has acted as ghost to Parliamentarians. Mr. Wil liam Gerard Hamilton, for instance, known by the misleading name of "Single. speech Hamilton," was indebted to the assistance of Edmund Burke, and subse 6.010,880.41quently of Dr. Johnson, in the prepara- tion of his speeches. Burke, who was wrote: 10.683,062.06 Hamilton's private secretary, 5,031.435.49 During six of the best years of my life he (Hamilton) took me from every pur- suit of literary reputation or improve ➡ ment of my fortune." Hamilton, after quarrelling with Burke, sought Johnson's assistance in political and literary mat- ters. Dr. Johnson wrote many Parlin mentary speeches, as they appear in their reported form from notes of these speeches taken during their delivery, and, as has often enough been recorded, took care that the Whig dogs should not have the 16,000,000.00 best of it." To a company lost in ad- 5,160,592.60 miration at one of Mr Pitt's most eloquent speeches he exclaimed, "That 1,493,020.25 speech I wrote in a garret in Exeter- are not at the present time recessarily 11,615,045.20 street." Speeches delivered in Parliament
original.
2392,247,068.82
1,980 205.83
THE T.K.K.S. "ANYO MARU”
On Sunday, January 23rd, there was launched at Tategami, from the building slips of the Mitau Bishi Dockyard and Engine Works, the str. Ango Mara, which has been built to the order of the Toyo Kisen Kaisha and is intended for the Company's South American service. The new steamer, which will be the largest trading to the Pacific coast of South Ame rica, has the following dimensions: Length. 480 ft.; breadth, 60 ft.; depth, 40 ft. maximum draught, 30 ft.; gross tonnage,, 9,400; displacement, 18,000 tons. The engines are Parsons' geured turbines. and she will have five cylindrical boilers. The indicated horse-power will be 7,000 and the speed 15 knots. Accommodation will be provided for 30 first-class, 50, second-class, and 640 steerage passengers. Eighteen lifeboats, more than sufficient to take all the passengers and crew, will be carried and modern requirements are to be met by the installation of wireless telo. graphy apparatus and fire extinguishing, disinfecting, and refrigerating machinery. The vessel has five holds, with a cargo capacity of 11.000 tons, and has a double 15,000,000.00 bottom throughout and seven bulkheads, Thirteen cargo winches, including one of 130,859,948.93 30 tons' capacity, will be fitted.
The Anyo Mart has been built under 135,874,964,99
the supervision of the Surveyor of Lloyd's 10,688,052.05 Register of Shinping, and will be classed 6,300,638.00 23 a steel, twin-scrow steamer, 100 A1. Japanese Government requirements have $382,217,068.82 also been complied with.
seceptances, per contra ....... Liabilities of constituents for Bank premises
MAPPIN & WEBB'S
OUR
SILVERWARE,
CUTLERY
STUDY
OF
and
PRINCES PLATE.
THE EYE
and its anatomy and our long experience in correcting defective vision enable us to tell beyond doubt if your eyes will be benefited by wearing glasses. -
Our method of testing is soientific and accurate. If you do not need glasses we will tell you so. If you do need glasses we can supply and fit thom at extremely moderate prices,
MAKE CERTAIN.
WE WILL TELL YOU.
Co
LARK & CO. @LARK
SUMIBLOGS, CHATER RO
HENGZONS
43
No comments yet.
Private notes are available after approval.