1914-05-23 — Page 7

alter Falmer &&

The Wine Merchany of the fast

INAPIER

JOHNSTONE'S

“SQUARE BOTTLE”

WHISKY.

UNVARIED FOR OVER 150 YEARS.

THE SAME TO-DAY AS IN

1745.

BEWARE OF IMITATIONS.

ĮSOLE AGENTS IN HONGKONG LANE CRAWFORD & CO. sad from ALL WINE MERCHANTS.

Sir Ernest Shackleton's Route 1,700 miles across the South

Pole from sea to sea.

WRITING to the agent'

enrusted with the purchasing of ske stores for the forthcoming In- perial

Trans-Antarct Expedition, Shackleton wards:

15

Broasi these

“The question of the concen- trated beef supply is most important -- it must be Bovril."

Men who trust thair lives to their food loke noriski, and Sir Benest Shackle ton, phoping. this expedition whts as intimate

a knowledge of stares ks of Ece and saw, bas recognised the aciontifca proved value Bovz.

FBX

* HOW 15 MADE MY WINDOWS PRETTY."

"Peach's Beautiful Book told me all about it.""

PEACH'S Patent Hem Curtains Quite New & different, Ideal for Casements The greatest problem which confronted me when. 1 was furnishing my home, was how to dress the windows, allë níost attractive fashion on BN economical basis.. I must confess that I was. considerably perplexed, und I wrote to Peach's ' for their book-"Ideal Home Decorations-the rportion of which is devoted to curtains and

FREE to all. Felhong

ALT. It contains 200 of the mo11 Charming

designs, show made pretty and inviting

how the most attractive windows could

It is the only book produced which tells of Peach's Special Palent Hems and Sunfast

Fabrics These

in themselves are worth a volume

of description.

I was most·· Impressed by the diärming focus for casement window decora

lon "There suggesso not anly embodied the actual alzę: and number of curtains required.

possible to see at a glance just how much sach -window would cost, and thẹn by reference to the book one could easily see how the window would look when finished.

The Book also contains many varieties of other necessities. HOUSEHOLD

· LINENS," UNDERWEAR, CLOTHING,

LADIES' BLOUSES, LACES, etc..

Nowhere is

The illustrations were superb.

possible to obtain curtains of auch exquisite taste.

A plain fact also to the most casual observer Was the aton:shingly moderate prices of the productions from this Lamans loo. Peach's LoomPriceš 23 CHEAPER Here were, beautiful designs of curtsins. designs, exclusive, to Messrs. Samuel Peacht and Son, the actual makers, which were, at least 25 per cent clieaper Gao one usually pays for the most ofóliary

Delightful styles ann curtains, yet, they were

There is the book. infinitely superar htt quality. T. is simply because Peachi's are the adual makers supplying direct to the users and ‚have 50 years' reputation.

Fill in the coupons below, or send postcard for Free copy of this magnificent book. You will never crase tu admire its contents. Write now. Get the handsame buck Ideal Home: Decorations" by retor 5. PEACH & SONS, (Dept THE LOOMS, NOTTINGHAM, England.

FREE COUPON-

E. PEACH & SONS, (Dept.

Nottingham, England, FISHNE TEHA DI puru Prer Catalogse Curtain Guide us per your offer

Name

Address

[080

COMPANY | MEETING."

BELL'S UNITED ASBESTOS CO. (LIMITED).

RECORD VOLUME OF BUSINESS,

THE HONGKONG DAILY PRESS, SATURDAY, MAY 23RD, 1914.

The 28th Ordinary General Meeting of the above-named company was held at the Cannon-street Hotel, London, Mr. H. A. Bell, the chairman of the company, prosiding.

The Secretary (Mr. George W. Giles) having read the notice calling the meeting and the report of the auditors,

The Chairman said:-As yon will have gathored from the report, and accounts, the year under review was a satisfactory. one. Indeed the volume of business undertaken in manufactured goods was greater than that in any previous year. The profit shows an increase over 1012 of some 25,000, and it is the fourth con secutive year that the profits have shown a material annual increase. There have

been drawbacks that have affected the

WM. POWELL, LTD.

TELEPHONE 348.

CRETONNES

AND

TAFFETAS

FOR

profits, such as higher costs, owing main- LOOSE WASHING COVERS.

ly to higher values of nearly all the rew materials veuse, with the possible exception of indiarubber, and without incurring risks of loss of trade we have found it impossible to raise our selling prices pro ratu.

-FREICHT RATES..

Freights, to which we draw your atten- tion in the report, were against us all the year, and without wishing to cavil at our many friends who are shipowners, and who certainly deserve their share of good trade, I will venture to express my humble opinion that the big trade routes, which are, all governed by ringed interests, are governed in such a manner as will one day bring disaster to the manufacturing interests of this country. For example, freight rates from London, Liverpool, and Glasgow to the Far East, Australia, New Zealand, and India have been much in excess of rates obtainable From Antwerp, Amsterdam, and Ham- burg. Of course, while trade is booming and all ships are leaving our ports full of cargo the natural reply of the slip- owner is, Why should he accept lower freights than he can get "but it seems to me a short-sighted policy to allow the difference in freight to be so large as to offer an inducement to buyers oversea to transfer their business from English manufacturers to Continental. manufac |turers." ~We all know thatru market once last is the market that is the most difficult to get back, and with trude slackening English shipowners have a livel interest in the ability of the English manufac turer to keep his overses trade, for if he fails to do so freight from this country will be scarce, and ships will undoubtedly go out light. E trust that in expressing this opinion shall not give offence to the many shipowners who have supported this company for so many years past, and who help in a great measure to make us a prosperous concerne

CAPITAL EXPENDITURE.

SEE OUR WINDOWS FOR

SMART DESIGNS.

We shall be glad to forward complete sets of patterns on

application

-(649

INDO-CHINA PORTLAND CEMENT COMPANY, LTD.

FAMOUS

PORTLAND

DRAGON 2

BRAND

CEMENT

PORTLAND CEMENT &

HIGH

IC QUALITY

CEMENTS

ALWAYS IN STOCK

BUILDING

CEMENT

Apply to P. SOFFIETTI & Co., 14, Den Vœur Road Central, 1st Floor. Telephone £89.

1049-1

Summer Excursions!

TO

JAPAN

BY THE STEAMERS. OF

CANADIAN PACIFIC S.S. LINE.

PACIFIC MAIL S.S. CO.

TOYO

KISEN KAISHA.

RATES FROM HONGKONG:

NAGASAKI $120.00. KOBE $135.00. YOKOHAMA $150.00.

MOUTRIE PIANOS

are BACKED

GUARANTEE:

PRICES FROM

for FIVE YEARS.

$385

EASY TERMS CAN BE ARRANGED.

S. Moutrie & Co., Ltd.

BANKS

HONGKONG SAVINGS BANK.

THE

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

INTEREST on deposita is allowed on the Minimum Monthly Balances at 81 per cent.

per annu4.

Depositors may transfer at their option balances of 8100′′or more to the HoveKONI And Shanghai Bang to be placed on- FIXED DEPOSIT at 4 per cent. per annum.

For the HoxGRONG AND SWANOMA)

BANKING CORPORATION, AG. STEPHEN,

Acting Chief Mazinger

(18

Hongkong, 14th May, 1014

FTVER CHARTERED BANK OF INDIA

TAUSTRALIA AND CHINA.

INCORPORATED BY ROYAL Charter, 1859,

AHMAD OPPID-LONDON.

Paid-up Capital... Beserve Fund...

£1,200,000 £1,800,000

HE

BANKS

MERCANTILE

INDIA, LIMITED

Authorised Capital. Subscribed

Pakl-up Reserve Fund

BANNAU BANK OF ENGLAND, and

BANK

151-2

£1,500,000 1,125,000

$62,500

: 465,000

LONDON JOINT Stock Bane, LixITED. -

INTEREST allowed, on Current Account at per cent. per annum on Daily Balazos and on Fixed Deposita at rates which mag be usoartained of application.

AR. LINTON, Manager.

Hongkong, 14th July, 1913..

[788

EDERLANDSCH-INDI S O E

HANDELSBANK. (NEERERLANDI INDIA Commercial Bank.)

ESTABLISHED 1869.

Authorised Capital F1. 80,000,000 (£2,500,000) Paid-up Capital... Fl. 17,407,000 (£1,450,688) General Reserve Fund FL 3,618,000 ( ́ £649,108;

Reservo. Liability of Proprietors £1,200,000 FOREIGN

EXCHANGE and

DOL

Banking business transaeted. Sa

CURRENT ACCOUNTS opened FIXED DEPOSIT received for 1 year of shorter periods at rates which will be quoted en application.*

A. S. HEWETT.

Acting Manager Hongkong, Sist March, 1914.

INTERNATIONAAL

CORPORATION.

F1494

BANKING

Kaan Oyeion: 60. Wall Street, New Tork LONDON OFFION: 88, Bishopsgate, E.0.

Canton.

Cebu.

HO: AMSTERDAM. HEAD AGENCY: BATAVIA

LONDON BANKERS : THE WILLIAMS DRACONS BANK. Swiss BARKERBIN,

The Bank transacts every description et Banking and Exchange business, receives money on Current Account and on Fized Deposit at rates which may be secörtaloud on applieso VERMEY, Manager,

-No. 9, Dos Vœux Boad Central. Hongrong, 3rd October, 1913

[21

HE BANK OF TAIWAN, LIMITED,

ST Braczaz-Txfurjar CHARTER).

BRANCHES :-

Bombay.

Kobe.

Calcutta

Manila.

TH

Marico.

Panamas.

Claton.

Peking.

Empire.

Raz Francisno.

Capital Subscribed

Hongkong.

Hankow

Shanghai. Yokohama.

Capital expenditure is a matter that ia given sore prominence to in our report, for the reason that it is a subject of great importance to this company Since 1907 we have spent on capital account the sum of £64,385, the accounts due to us and the stock have absorbed another £27,641, making in all an in- creased lock-up of our cash of £91,92%. Against this wo issued £60,000 of Pre- ference shares, giving as net cash of] GOING AND RETURNING WITHIN PERIOD 18r JUNE-31 OCT. £55,000, thus showing that the business has absorbed an increase of cash to the extent of some £36,920, and with a pro- gramme before us this year of a further expenditure on account of buildings and plant of some £14,000, without taking into consideration any possible necessary increase in stock or the probable increase in debtors, both of which iterus tend to increase as a company increases its basi-on the Coast. ness. During the period mentioned the turnover in manufactured goods has JOINT SCHEDULE OF SAILINGS TO AND FROM JAPAN FORTS. QURRENT ACCOUNTS opened on the anal practically been trobled, and without that increase in turnover it would not be my pleasent duty to recommend a dividend distribution of 12 per cent. on the Ordinary shures as the result of the last year's trading As a prominent business man once said to his shareholders at their annual meeting. If a trading company did not make progress, it meant that it was going back, as to remain stationary heralded a backward move- ment."

Tickets are interchangeable for return by any steamer of above-named Companies and include Kail between Japan Ports of call if desired.

Passengers may go and/or return TIA MANILA without additional charge by stor calling at that Fort so indicated in schedule of sailings shown below.

The Steamers operated by the Companies named are the largest fastest and most laxurious

FROM JAPAN.

TO JAPAN.

ΣΤΑΦΙΔΑΚΙΑ LAKAVIC

Lavz

NADABARI HosoHÒNG

LEAYE

STEAMER

ABD'N

Hosarono Katamari LEATE ARAIM

Корк

YUKOLLAMA

KARITE

· ÅKRIVE:

MANCHURIA

Juno

12 June 14

Juno

14

Jazz

E OF ASIA TENTO MARU

·10

BILE -

June

June 6 June

June.

NIPPON

July

E OF JAPAN

*

MUSTEAGLE....

Juży

Aug.

Sept

Returning in Manila.

+

MONGOLIA

E OF RUESIA. ITRONG, MARUI

July+ PERSIA ......

SUINTO WARU

..." ↑ E. OF INDIA...

2 Aug.1 QUINA DES

KOREA

ነ

CHIYO MARU

SIBERIA

Aug.

E FASIA

MANCHURIA.

E; OF JAPAN

TESTO MABU

++

NILE

15% OF RUSSIA

MONTEAGLE

NIPPON SIARU Į :

8 Bept. MONGOLES

E OF INDIA

4. PERSIA

BEIN YO MARU 2

ELOR"ÁBIA.

KONG, MARU..

KOREA

CHIYO MARE

CAPITAL AND SURPLUS Gold 87,300,006 £2,450,000 EVERY DESCRIPTION OF BANKING.

BUSINESS tranaseted, a

terms, app DEPOSITS RECEIVED, fixed for one year

at 4 per cent per annum, or fer shorter periods, at rates which may be ascertained on application. BILLS NEGOTIATED and COLLECTED

MAIL nd · TELEGRAPHIO REMIT.

Capital Faid-ap

Reserve Funds ...

Yen 10,000,000

7,499,250 3,430,000

Head Office: TAÍPRH, FORMOSA.“

BRANCHES AND AGENCIES:

Amoy Kiukiang Shanghat Balvis Kobe

Singapore

Bombay London

Swatow

Calcutta

Canton

Manila Mojt

Taichu

TaiLan

Dairen

Nagasaki

Takow

Newchwang

Tameni

Hongkong

New York Tokyo

Osaka

Yokohama

Foochow

Kag

TANCES made. d) Kolog

LETTERS OF CREDIT and DRAFTS granted on all the principal mitles in the World.

THE BANK'S CIRCULAR LETTERS OF CREDIT are available all over the World.

COMMERCIAL LETTERS OF CREDIT:

issuedi

PURCHASE and SALE of Stocks and

Shares affected a

San Francisco Eto. HONGKONG OFFICE,

·8, Das Vœux Röid, " Interest allowed on Current Accounts, Deposita received on terms which may be had on application..

MĒ. TSUDZURABARA, THR Hongkong 19th February, 19141643

TRAVELLERS CHECKS sold and cashed HONGKONG

Sept

9, Queen's Road,

[Going via Marilo

Steamers proceeding via Manila do not call at Shanghal

[630

as was

GEORGE HOGG,

Manager.

Hongkong, 21st October, 1918..

that he was in a position to say at once

SAND SHANGHAI

BANKING CORPORATION.

Reserve Fauds

Paid-up Capital:

$15,000,000

Sterling

£1,500,000 at 2/---$15,000,000 Silver...

$17,650,000

$82,650,000

that he agreed with that gentleman. He asked that the suggestion might be put Beserve Liability of Proprietors $15,000,000 in the form of a resolution and be sub- mitted to the meeting.

After some further discussion on the

Count or DIECTORE

Hon. Mr. D LANDALE-Chairman.

F. Lieb, Esq.

| J. A Plummer, Erg

My point is that having spent the large sum of money which we have done in buildings and plant, having increased our trade so largely, necessitating á lock up of money in stock and credit to customers, there being possible further manufacturing facilities required over and above the sum mentioned in the report as about to be spent, also a further increase in stocks and credits, we consider that our cash may not be adequate to our trading capabilities, and that the compulsory stationary period may be reached long before it should be. I have no proposal or even suggestion to ruske to you to-day on this subject, and I should like you to clearly understand that the matter is not acute, but that your board of directora consider at times

poins Mr. Ellice Clark moved the follow W. L. PATTENDEN, Esq. Deputy Chairman. that there is a want of elasticity in our

ing resolution:—“That the reserve of §. H. Dodwell, Esq. cash position, and that in itself tends

£48,635 136._pd._ pledged in the balance (T. M, Edkins, Esq. to retard progress. I do not think the

fund for that purpose, and,

sheet as a fund for the equalization of C. S. Gabbay, Esq. Fon. Mr. E. Blelim.. accounts call for any detailed dissection

HA. Siebe, Esq at my hands. They are, as you will no

pointed out in The Times that day, for dividends be released and used for the PH. Holyook, Eng.

Landgraf, Esq.

Ad. Widmann, Esq. doubt have noticed, set out on exactly The Chairman, in answer to Mr. N. the past nine years the average dividend general purposes of the company."

Mr. N. H. Smith zeconded the motion, the same lines as in former years, and Herbert Smith, stated that the return paid by the company had been 135 per which was supported by Mr. Ellis Ellas,

"Guzen" MANAGER therefore comparison is casy. With these realizable on the investments referred to cent. He suggested that the board should After the adoption of the report and

Hongkong N. J. STAD. al cost price was £3 115, 4d. per cent, be authorized to employ such portion accounts Mr. Ellice Clark's motion was few remarks I will propose the resolution and get it seconded, and then if you and the percentage realizable at that of the land as might be necessary input to the meeting and carried with one criticisms to offer on my day's prices, supposing the securities were order to meet or to finance the expendi dissentient, Mr. Bangster, who, whils remarks I shall be very pleased to hear sold, and the proceeds reinvested, would ture with which the company were now approving the principle expressed by the faced and any additional expenditure motion, felt that notice ought first to them and to endeavour to answer theme 3188. per cent. The interest paid on if they call for any reply. The resolution the company's debentures was 5 per cent, which might, in the Board's opinion, be have been given of it to the shareholders. LONDON COUNTY AND WESTMINSTER

desirable in order to promote efficiency, The Chairman stated that if it became which I have to propose is: That the and they were redeemable at par.

Mr. N. H. Smith alluded to the or otherwise to further the interests of report of the directors and of the auditore and the financial statement submitted to chairman's reference to the want of the company. An advance might be necessary to use any of the fund, which was open to doubt, the directors would obtained from their bankers upon the not do so until they had taken the best this meeting be and the same are hereby elasticity in the company's cash resources, approved, adopted, and confirmed and and pointed out the great changes which securities, and the company would be legal advice as to the validity of the per that in addition to the dividend at the had occurred in the position of the able to repay the advance in the future solution.

ON FIXED DEPOnfro rate of 6 per cent, per annum paid upon company since the year 1900, when the and not be faced with any Increased

The retiring directors and auditors for month, 2 per cent. per Ansum, the Preference shares. a dividend at the directors agreed that the investments in standing charges. rate of 1s. 6d. per shere be paid on the question, amounting to some £48,800, The Chairman, in reply, remarked that were re-elected, and the meeting closed For 6 months, 35 per cent. per Annem. with a vote of thanks to the Chairman For 1 months, 4 per cent, per Annum ordinary shares, making with the interim should only be applied to the purpose of the suggestion embodied in Mr. Smith's and directore, the managing directors,

AG STEPHEN dividend on the shares already paid 12 equaliting dividend. It had never speech had come some that as a surprise the secretary, the factory managers, and

Acting Chief. Manager. proved necessary to have recourse to that, to him, but be so fully appreciated it per cent for the year."

Hongkong, 14th May, 1914, 116,

have any

Mr. H. J. Enthoven seconded the resolution.

the staff

"ACTING MAMAUER? Shanghai). D. SMART.

LONDON BANKERS |

BANK, LIMITED.

HONGKONG-INTHBEST ALLOWED. “

On Current Account, at the rate of Two cent. per snaum on the Daily Balanes,