1914-01-01 — Page 5

INTIMATIONS

NEW YEAR

GOODS.

COMPANY MEETING.

THE HONGKONG DAILY PRESS, THURSDAY, JANUARY 18, 1914.

PENINSULAR AND ORIENTAL STEAM NAVIGATION CO.

IMMENRE SCOPE" OF THE COMPANY'S WORK,

The annual general meeting of the Peninsular and Oriental Steam Naviga- tion Company was held on December 10th at the head office, Leadenhall-stroct. under the presidency of Sir Thomas

Sutherland, G.C.M.G., LLD.. the

Chairman.

The Secretary (Mr. Froderick John Abbott) having read the notice convening the meeting,

The CHAIRMAN, who was warmly reteived, said:Ladies and Gentlemen,-I presume You will take the report as read -("Agreed")-and therefore it now becomes my pleasing duty once more to move its adoption. I think the accounts which we place before you to-day are, upon the whole, the best we have been able to submit since the years of the South African transport work.

I may

OUR CONFIDENCE JUSTIFIED.say that we have had no exceptional luck

We undertake to refund the Cost of any Article if any of our Customers ara not satisfied,

o wo know how oxcellent our Goods are

Bach an offor could not be made if there was the slightest doubt about, our Goods. All we

ask is your inspection.

H.

KUTTONJEE

& SON,

WINE AND PROVISION MERCHANTS.

[31

THE DAIRY FARM Co., Lan.

PURE, RICH AND WHOLESOME

MILK

Straight as it comes from the Cow,

The Company's Farms, Utensila and Methods are Models of Cleanliness and, in these particulars, are probably unsurpassed. in the World..

peter) 1 162 2 2 pazara a casan A

MARTIN'S

&STEEL

A French Kanundy Zor all Irangalarttiss Thousands of Lachon sinaya krop • box of Barca ta jo huden, as thation the firs algo of any fameularity of tra vaatana na

una kiomber

then, bee white

chair: moudala, All Chvenista quia Stormsveit thom thuonghuak the World, we just Iron Be MARTIN, Cherplak, Bouthoxy$40, Ext.

timely diaS KENT AND Kulated.

MARTIN'S ±

PIOL STEEL

THE NEW FRENCH REMEDY, Not NOT NOG

THERAPION leader

BLOCO POISON, KIDUNT, IKADDER, URINARY DISKASES. DISCHARGES, WEAKNESS, PILES, SENDSTANT ADDRESS ENVELOPE FOR

DR. LE CLERO

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PAREL DEPOT 12, PER CASTIGLIONE, A CURE ARW YORK DEPOT: BI. BERKHAM ST. TO YOU TRY NEW DELGEE (TASTELVES) FORMOT ZA TO TAKE

THERAPION

[28

SAYK AND

JETING CURE 175

JUE THẤT TRADE MANEID WORD "THERAPIOH" 15 OR REN, GOVT. STAMPARFLAGE TO ALL GENUINE FACESID

TO LET

TO LET.

in the present year, we have had nothing our service, but we have had, upproaching to a fluke in connection with the whole, a very brisk trade, and our expert trade especially has been of the most aatisfactory character to dil parts of the East. (Hear hear.) The net result of our accounts is explained in a very few words. We pay the same dividend as last year, we write off £459,918 as normal depreciation of our fleet, and we carry to a new contingent fund the handsome sum of £200,000. On that subject I shall have a few words to say a little further

.on,

THE FLEET THE COMPANY'S FINANCIAL POLICY. Now, if you will turn to our balanes- slicet, the most special item which appears is that of the addition of 35,941 tens of new tonnage. The book value of the fleet up to that point works out at £7 13s. por ton, but, if we allow for those cash reserves to which I have had to call your attention very often, the actual value of the flect is only £3 78. 3d. per ton. (Cheers.) As this fleet up to that point oost in round figures £10,000,000-or, to be perfectly and absolutely exact, €9,994,524-it will be seen at once that the Company's financial policy has been worked for many years on sound lines. (Cheers,) When the ships which are now being built are completed the original cost of the fleet. will amount, I believe, to npwards of £12,000,000 certainly, an important figure for a modest Company like our own-(laughter) and a figure very gratifying to old shareholders, like many of those gentlemen I now see before me, who remember the fleet and the finances of former days, (Hear, hear.) We have, as I have just said, still a considerable programme of shipbuilding going on. During the last 18 monthe we have contracted altogether for 115,000 tons at a cost of £2,200,000, of which wo have paid off up to the present time about one million and a quarter, but the balance to be paid causes us no particular alarm, because, as you may foresee, we have what we may call "an old stocking," which is well lined and which enables as to say that we have resources enough to meet all future demands on the Com pany whether in connection with our public service, in connection with the tarrying out of the mail contract, or in relation to those purely commercial requirements which become every day of

more extensive character.

We may venture to say to-day that it is not the mail contract which keeps the Company, but the general trade of the Company which keeps the mail contruct.

THE STRIKE ON OFFICERS.

and.

I now turn to one or two points of general interest before I deal with any further figures. The strike of our officers in October last, is an ugly subject which I should be glad to pass by. but my silence might be misconstrued. I have been Chairman of this board, as you know, for many years, and every week I have before me a statement of the move ments of all our officers, engineers, and our general and marine staff; speaking on my bonour, I cannot recall at this moment a single case of un oficer leaving this Company's service to better his position in any other Steamship Company (Hear, hear.) The inference is abundantly clear-that we have been paying at least as good wages as men of the same rank have received in other companies, and tbere

perkape collateral advantages in our service which were not general elsewhere.

(Hear, bear.) For instance, the Company have contributed for 60

years to a life assurance and superannuation scheme for all their employees, both ashore and afloat, which has been an immense boon to their families for at least half a

were

MERION, Jard Ralf century; and, as a board, estate a

ERION, Nos. and 10, PRAX, Unfurnish.

December, Newly Painted and Colourwashod.

ONE SMALL GODOWN in Duddell Street

No. 19, SHELLEY STRÉET.

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HERE ARE TWO LEADING

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* [627

INDO-CHINA PORTLAND CEMENT COMPANY, LTD.

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BRAND

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PORTLAND

H

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(629

BANKS

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(INCORPORATED BY SPECIAL IMPERIAL CHARTER).

INCORPORATED BY ROYAL CHAnter, 1859. HEAD OFFICE-LONDON.

Paid-up Capital...

... £1,200,000 Reserve Fund

£1,700,000 Reserve Liability of Proprietors £1,200,000

FOREIGN EXCHANGE and General Banking business transected.

QURRENT

**་

Capital... Capital Subsoribed (paid up), Reserve Fund

Yen 10,000,000

6,250,000

2,620,000

HHAD OFFICE: TAIPER, FORMOSA.

BRANCHES AND AGENCIES:

Amey

Swałow

Tainan

Anping

Koba

Tamaai

Cauton

Nagasaki

Tokyo

Foochow Овака

Yokobama

Keelang

Shanghai

[1494

ACCOUNTS opated and FIXED DEPOSIT received for 1 year or shorter periods at rates which will be quoted

A. 8. HEWETT

Acting Manager Hongkong, 14th April, 1913.

BUILDING en application.

ALWAYS IN STOCK :

CEMENT

Apply to I. SOFFIETTI & Co., 14, Des Vour Roul Cental, 1st Floor.. Telephone 289.

THE

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credit for the fact that no old servant with a good record has retired from the believe I am right in adding that we have Company without receiving a pension of now more Naval Reserve officers in our some kind to which he had made no con- service than there are in any other "KELLETT CREST," No. 66, THE PEAx,tribution whatever, other than that of individual Company. (Hear, hear.)

from 1st March, 1914, Partly Furnished.

No. 6, CAMERON VILLAS, No. 59, PEAK, Te Let, Furnished, for one year, from let May

1914,

1, CAMERON VILLAS, No. 60, PEAK, To Let, Furnished, for 1 year from 1st May.

"ROGATE," Austin Road, Kowloon Unfurnished.·

No. 68, PEAK, MOUNT KELLETT (Church Mission Society Bangalow), from 1st October, 1913, till 30th May, 1914 Partly Furnished. Cheap rent.

FOR SALE OR TO LET. (From 1st Noveniber; 1913.)

No. 1, GOUGH HILL, No. 109. PEAK. Bungalow, containing Drawing, Dining and Smoking Rooms and Fire Bedrooms With Ground for Tennis Court.

FOR SALE.

previous good service. We have reason

to know that such gratuitous retirin

FOR

NERVOUS EXHAUSTION

LOSS

of

name

MEMORY

and DEBILITY

und

to

fean the

NERVES

THE MAIN OBJECT OF THE STRIKE. companies, although they may have in was an increase of wages, and this claim allowances have not been general in other Of course, the main object of the strike

companies. commenced | Some,

quite really rested on the recent afiuence of the recently. As some very sharp criticism cargo carrying trade rather than on the was meted out to the Company in this profits of companies like ours, for we and strike crisis, it is only right that I should. other companies which I could. make these facts quite clear.

(Hear, earned larger profits during the South licur.)

African war than we have ever done I need hardly say that, we are very

since; but there was no strike then, and familiar indeed with workmen on daily the officers would have scouted the idea wages throwing down their tools with or of the methods of. to-day. (Hear, hear.) without good reason; but when officers But-in the position in which the Com and gentlemen adopt these trade unionist pany was thus placed there was only one their colleagues who were apposed to their were quite anited in opinion that the tactics, even to the extent of threatening thing to do, and my colleagues and I action, and leave their ships at the strike tnust be dealt with in a conciliatory busiest period of the year, we then find way, and, as far as possible, even in a that we have entered en 巍 new age generous spirit. We were also unanimous altogether. This strike was, indeed, a

in resolving that any boon granted to "HARTING and ROGATE," on part of Painful example of nutre temps, autres Officers should in the first instance be McLurs On one subject our officers had extended to commanders, to whom we some reason to complain that promotion look not only for the safety of our ships, had become slower than was formerly the but also for the reputation of the Com. case; hut the great anxiety of most of pany wherever our Bag may be found. our officers to train for the Royal Naval The settlement effected will undoubtedly Reserve was largely accountable for this cost the Company a considerable sum state of things, as in order to give these annually, and I imagine that it fixes the gentlemen the long leave necessary for wages of our service considerably abore naval training and at the same time, to the level of other lines in the Eastern keep their promotion going on in the trade, at all events; but the imperative and we are naturally anxious as to the Company's list we had to maintain a with his Majesty's mail service-which

obligation thrown upon us in connection future. In this connection I may remind additional staff of officers, thus blocking

you that it is only four or five years ago rather seriously the avenue of promotion the strikers had, of course, foreseen-left that the ports of the United Kingdom We are now removing this obstacle by us no option but to put an end to an swarmed with ships which could not be retiring commanders and chief engineers impossible situation. Gentlemen, as you sent to sea except at a heavy loss to their at an earlier date than hitherto, but I know, our expenditure grows on all sides.

(Continued on Page 6.)

Kowloon Inland Lot No. 1154.

App to LINSTEAD & DAVIS,

Buildings

[64

3rd Floor, Alexandrs Buildings. Hongkong, 1st January, 1914.

TO LET.

FFICES in King's Building,

OFFICE

No. 153, PRAYA EAST, ^

Apply

THE HONGKONG LAND INVEST. MENT & AGENCY Co., LAD Hongkong, 1st January, 1914,

L65

CHAPOTEAUT'S PHOSPHO-CLYCERATE OF LIME

It increases vital energy end' nerve force, cures Neurasthenia, Dyspepsia, Insomnia, and nervous diseases in adults and children.

IN CAPSULES, IN WIRE, AND IN SYBUP

123-4]

THE OKOHAMA SPECIE

LIMITED.

HONGKONG OFFICE,

3. Dza Vaux ROAD.

Interest allowed on Current Accounts.

BANK, Deposits received on terms which may be

had on application:

Authorised Capital ... Yan 48,000,000

Paid-up Capital.....

Raserye Fund

30,000,000

* 18,550,000

HEAD OFFICE-YOROBAMA. Branches and Agencies at

Liao-Yang Ryojan

Antang-Hsin

Calcatta

Bombay

Changchun

Dairen (Dalny)

London

(Port Arthur) San Francisco

Los Angeles Shanghai

Lyons Tiehling

Fong tien (Mukden) Nagasaki Tientsin

Hankow

Harbin

Honolulu

Кова

Newchwang Tokyo

New York

Osaka

Peking

INTEREST ALLOWED ON CURRENT ACCOUNT). Deposits received frz fixed periods at rates to be obtained on application.

FISHI ONO, Manager. Hongkong, 30th September, 1913.

[484

THE MERCANTILE BANK он

T

INDIA, LIMITED.

Authorised Capital

Subscribed

Paid-up Reserve Fund

BANEIRO:

BANK OF ENGLAND, and

...£1,500,000

1,125,000

562,500

415.000

LONDON JOINT STOOK BANK, LIMITED.

INTEREST allowed on Current Account at 2 por cont. per annum on Daily Balance and on Fixed Deposits at rates which may be ascertained on application.

A. R. LINTON, Manager.

Hongkong, 14th July, 1983.

[878

HONGKONG SAVINGS BANK.

THE Business of the above Bank is con- ducted by the HONGKONG AND SHANGHAI BANKING CORPORATION Bules may be obtained on application.

INTEREST on deposits is allowed on the Minimum Monthly Balances at 3 per cent.

per annum.

Depositors may transfer at their option balances of $100 or more to the HosGKONG AND SHANGHAI BANK to be placed on FIXED DEPOSIT at 4 per cent. per annum.

For the HONGKONG AND SHangriar

BANKING COBIORATION,

Chief Manager.

N. J. STABB,

Hongkong, 1st July, 1911.

N

(19

EDERLANDSCH-INDISCH

HANDELSBANK.

(NETULANUS India Comsumcial Bang.)

Established 1863-

K. TSUDZURABARA, Manager.

Hongkong, 1st May, 1913.

HONGKONG

(1272

AND

SHANGHAI

BANKING CORPORATION,

Paid-up Capital

$15,000,000

Reserve Funds:--

Sterling

£1,500,000 at 2/--$15,000,000.

Silver...

$17,450,000

$32,450,000

Reserve Liability of Proprietors $15,000,000

COUBT OF DIRECTORS.

8. H. DODWELL, Esq.,-Chairman. Hon. Mr. D. LANDALE-Deputy Chairman. G. Friesland, Esq. J. A. Plummer, Blaq. E. Goetz, Esq.

W. L. Patteiden, Eng.

C. S. Gubbay, Esq. P. H. Holyoak, Esq.

G. B. Lanrenz, Esq.

H, A. Siebs, Esq.

Hon. Mr. E. Shollim,

CHIEF MANAGER: Hongkong-N. J. Brazo,

MANAGER!

Shanghai-A. G. STEFUEN.

LONDON BANKERS:

LONDON COUNTY AND WESTMINISTER BANK, LIMITED.

HONGKONG-INTEREST ALLOWED.

On Current Account at the rate of Two per cent, por annum on the Daily Balance. ON FIXED DEPOSITA. For 3 months, 2 per cent. per Annum. 6 months, 3 per cent. per Annum. For 12 months, 4 per cent. per Annum

N. J. STABB.

Chief Manager.

For

Hongkong, 13th October, 1913.

TNTERNATIONAL

且

CORPORATION.

BANKING

(18

HEAD OFFICE: 60, Wall Street, New York, LONDON OFFICE: 36, Bishopsgate, B.C.

BRANCHES:--

Bombay. Calcutta.

Canton.

Cebu,

Kabe.

Manila.

Mexico.

Panama.

Color. Empire.

Peking

Ean Francisco.

Hongkong Hankow.

Shanghai. Yokohama.

CAPITAL AND SURPLUS Gold 87,200,000

equa? £1,480,000* EVERY DESCRIPTION OF DANKING

BUSINESS transacted. CURRENT ACCOUNTS opened on the usual

Authorised Capital Fl. 30,000,000 (£2,500,000) Paid-up Capital...FI 17,407,000 (£1.460.589) BILLS Reserve Fund ..... Fl. 6,518,000 (£545,160) | MAIL-

HEAD OFFICE: AMSTERDAM. HEAD AGENCY: BATAVIA

LONDON BANKERS:

THE WILLIAMA DEACONS BANK. SWISS BANKVESKIN.

The Bank transacts every description of Banking and Exchange business, receiver morey on Current Account and on Fixed Deposit at rates which may be ascertained on applicatian.

G. VERMEY, Manager, No. 8, Des Vous Road Central. Hongkong, 3rd October, 1913. [21

terma

and

DEPOSITS RECEIVED, fixed for one year at 4 per cent. per annum or for shorter periods, at rates which may be ascertained on application. NEGOTIATED and COLLECTED. and TELEGRAPHIC REMIT- TANCES mado. LETTERS OF CREDIT

DRAFTE granted on all the principal cities in the-World. THE BANK'S CIRCULAR LETTERS OF CREDIT are available all over the World. COMMERCIAL LETTERS OF CREDIT

issued: PURCHASE and SALE of Stocks and

Shares effected. TRAVELLERS' CHECKS sold and cashed,

GEORGE HOGG, Manager.

9, Queen's Road,

Hongkong, 21st October, 1913.

[1230