1915-04-30 — Page 3

INSURANCE OFFICE,

LIMITED.

ANY REPORT.

THE HONGKONG DAILY PRESS, FRIDAY, APRIL 3011, 1935.

to

THE CHINESE INTERNAL

explanations we have required and, in our opinion, the above Balance Sheet is properly drawn

as up so exhibit a true and correct view of the state of the Company's affairs according The report for presentation to th to the best of our information and the ex-1915,

planations given to us and as shown by ahareholders is as follows:

the books of the Company.

The General Agents and Consulting Committee have pleasure in submitting a statement of the affairs of the Office made up to 31st December, 1914, in sterling andj Hongkong currency.

1913 Account,After paying an interim dividend of $18 per share on 19th May, 1914, the amount standing to the credit of this account is $153,128.60.

This it is resolved to deal with in the following manner:

To pay final dividend of $4

per share...

To add to reserve fund bring

ing it up to £177,000 To add to underwriting suspenso

account

40,000.00

210,587 57

..... 302.349.12

3,199 69 1914 Account-The amount standing at credit of this account is 92,300,687.80. Out of this the General Agents and Con- at Bulting Committee have declared interim dividend of $18 per share,absorb ing $180,000. The balance of $2,900,697.80 will be carried forward.

Consulting Committee. Since the last testing Mr. C. S. Gubbay has en invited to a seat on the Consulting Com

Jmitter.

Messrs. Maitland arid Barton resigned their seats on account of their departure fron-the-Colony, and-Blessrs. E. J.. Chapman and B. P. White wer invited to fill the vacancies.

H. PEREY SMITH, F.C.A.), A. R. Lowe, F.C.A. Hongkong, 28th April, 1915.

Auditors.

N.Y.K. CARGO FOR HAMBURG.

CONFISCATION IN LONDON.

LOAN OF 1915.

REACTION IN SILVER.

A succresion of foreign coinage orders In response to inquiries regarding,

have, stato Mesrs, Samuel, Montagu & subscriptions for the Internal Loan of

wo have been informed from Co in their weekly circular, lifted quota- authoritative sourers that the loss iations for silver from the dead level of meeting with hearty te pone from the 22. ruling throughout November and people throughout the country and the the three succeeding months, but before Straits Settlements. The favourable reception rather surprised those who live higher prices can be maintained China not followed events cisely and who have has to be reckoned with. It must be not looked into the situation minutely. remembered that not only are stocks in In the first place, the recent redemption Shanghai extremely large, but also a of the first instalment of the called substantial portion of the stock in Lon- a million and a quarter Nanking Military Bouds and the manage-don-about-

ment of the Internal Loan of 1914 bate, stekling is held on account of the same to a very lurge extant, paved the way for quarter, A. sudden upward rise in the the present Joan. The business-like in price of silver provokes necessarily a In the London Prozes Court, last month, her of meeting the interest payments on somewhat similar movement of the China Mr. Maurice Hill, K.C., asked for the the 1915. Juan, by monthly deposits in the exchanges. This movement, in turn, often Bank of China and Bank of Communica- condemnation of a quantity of cotton

some of the silver held on Chine account molten ore, and 100 cases of star aniseed, eral of Customs, has inspired the con- in this market. Thus an automatic reac waste, goose feather quills, duck feathers, tons, in the name of the Inspector Cien-Causes exchange operations that seb free

fidence of the people in the

the good faith forming part of the cargo of the Japaneer and snagement of the present Govern- tion takes place, more or less effective, in liner Miyazaki-mark, and seized in Augent, The old bye-word, which originat proportion to the amount of silver set that the free, the power of the Silver market here last in London, whence they were to have ed under the Mancha régime, been trazishipped to Hamburg. The only Government seldom pays its obligations to absorb it and the limits set to sales by claim was in respect of the aniseed, to its own nationals has been dissipated the conditions which govern the China.

The exchanges at the time. valued at £390, which was claimed by by the policy of the Republic.

Supplice, apart from China, art, and Messrs Arnold, Karberg & Co., a firm of people have been conviuced that the Be exporters of Manchester goods and impublican Government is responsible and are likely to be, very restricted, and the porters of Eastern goods, carrying on reliable and that it has and will duly prospects of demand are far from dis- all obligations entered into, couraging. The Indian bazaars, which business in China and in London. New mest

whether they are | have purchased on a smaller scale than The first question indiscriminate of York, and Berlin.

usual for several weeks, will probably ask which had to be decided was whether the foreign or domestic.

Secondly, the participation and c-for silver when they realise that the level properly in the aniseed was in Messrs. Arnold, Karberg & Co., or tin the Ham operation of the premier foreign bank is really justified by the conditions of the

with the two leading banking institu market-Financial TimeS, burg buyers, Mosers. Wachsmutt & Krogtions of the Republic for the flotation of the loan are unique and anprecedented in the History of Chinese domestic finance. This co-operation as badly needed, so mutual y beneficial, and so full of possibilities, has not been accomplished previously because of misunderstanding and suspi cion both on the part of the Government as well as on the part of the foreign

ල The participation and bankers. operation of the foreign bank ennnot but help and enhance the credit of the Republic and create greater confidence among investors...

man.

Mr. Boyan, for the claimants, said he could not ask the Court, on the evidence The Hon. Sir Paul Chater, C. M.G.. Hon. Mr. E. Shellim and Messrs. D. Wat present available, to release the cargo Creddock, E. J. Chapman, H. P. White to them, but he asked that something and C. S. Gubbay retire, but, being should be done to preserve their rights till the facts were ascertained. Messrs. Aligible, offer themselves for re-election,

Auditors. The secounts have been Arnhold, Karberg & Co. were interested audited by Messrs. H. Percy Smith, in cargoes valued at £100,000, which had F.C.A., and A. R. Lowe, CA, who, been seized." being eligible, offer themselves for re- olection,

SARDING MATHESON & CO. LTD.

General Agents.

WORKING ACCOUNT. 1913. ÓN 31ST DECEKAɣr 1914

The President, in giving judgment, said:-

According to the information before me there is a very strong prima facie case Thirdly. The satisfactory reception of that these goods belong to an alieu enemy,

the issue is partly due to the spirit of Indeed, Mr. Devan in his argument has patriotism towards the Republic, awaken not contended that according to the allied by the realization of the present situa- 09004.29 davit I should be perfectly right in com- tion of the country and to a keen sense of duty to support the Government 216,377.62ing to the conclusion that there is enough

financially.

Losses and claims prid......... $1,022,725.56 Charges

Commissions

Balarue as per balance sheet

Not premmin recived, fossi rez

turas and insurancs

Interest

Transfer fees

BRITISH INDUSTRIAL

INTERESTS IN CHINA.

Eastern Engineering, which now forms a supplemen! to the London and China ExpreERN, BAYA LI

INTIMATIONS

LANE,

CRAWFORD & Co.

Go To Bed Happy. Get Up Happy

Wear a Loose-Fitting B.V.D.

(Trade Mark) Short Sleeve, Knee Length Sleeping Suit.

Made from thin, cool fabrics that let the sir through. Cut on full, fece lines that prevent tightncer at say point. The conificat sleeping suit ta -be bad. Not a penny more costly then night apparel of any other sort that you might purchas.

AGENTS FOR

3.;

"B. V. D." SLEEPING

SUITS

~WHITE NAINSOOK :

$3.00

PEE

BUY.

$4.75

ALL SIZES.

COLOURED SOLESETTE

ALL SIZES.

PER

SUIT.

"B. V. D.". UNDERWEAR

COAT CUT

VESTS $1.50&$2.50 Each. KNEE LENGTH $1.50 & $2.50 DRAWERS $1.50&$2.50

LIGHT WEIGHT

PYJAMA

In view of statements which have been made recently by correspondents in lead ing daily and technical journals regard- ing the position in China of British engineering and industrial products—to the effect that British manufacturers have been facking in enterprise, as compared with their German and American com

our readers to know that a very powerful IN CEY and well-organised corporation, compris- ing some of the bust-known engineering firms in Great Britain, has lately come into existence for the purpose of co- operative. working throughout the Chinese Republic. Such Orms.

633,120:49 before me to show that in all probability Lastly, the Bonde offer a safe and petitorit will be of interest to many of

the documents have been exchanged in $2,811,297,56 Hamburg, and that boing so the property has passed. The matter pressed upon me by Mr. Bevan is this. He says there has 52,414.707-04 *been a great upheaval in business, and we 226 98.t have not the further information to give

03.28

to the Court which will enable it to de- cide finally, beyond question, where the 82,6$1,897.58

property in those goods lies."

WORKING ACCOUNT. 1914. ON B1ST DECEMBER. 1014. Losses and claim psic Charges

Commissions Balance uspe balance shert...

Not premia received, les

tures and re-insurances Tutorest

Transfer fees

each

sound as well as convenient investment for all classes. The security set aside for the Loan has ample margin of safety, The revenue of twenty-nine pledged Native Customs Offices, including those of Amoy, Yang-yui, Wanchew, Hai-nan Swatow, Wachang, and Kalgan, together with the total Likin of Sharisi, amount world-renowned in its particular branch ing to approximately Five Million of activity, as Sir William Arrol & Co., He has here, so it now transpires, Mr. Dollars ($4,900,000) unconditionally Ltd., of Glasgow; Messrs. Brooks & Chas. H. Arnhold, who made the affidavit, guarantee the repayment of principal Doxey, Ltd., of Manchester; John Brown. ..$1.136.887.79 and Mr. Goertz, wha is described in the and payment of interest. The denomina & Co., Ltd., of Sheffield; Cravens, Ltd., 113,026,70 afidavit as a partner, who has resided in tions of the bonds, ranging from 85 to of Sheffield; Callender's Cable and Con- 203.07 15 London since 1009 and carried on the busi. 210,000, place the bonds as an investicent 2,200,497.20 news of the London house till the begin within the reach of all classes. The small ning of the war, and who has applied for investor as well as the capitalists can $3,744,950 53 naturalisation. Mr. Bevan says he ten-avail themselves of the opportunity of ders them as witnesses. I do not know participating in the Loan.

The four principal reasons for the sure what that means. He can call them, and

ce which is being achieved by the pro ...3.5.810.17 has not chosen to do so In this state smb Loan are, in the opinion of thoss 249,115.36 of things I am not at all satisfied that the well informed: Great confidence in 18.00 claimants here have done their best, or the good faith of the Government created indeed have made any efforts at all, to get by more busness like management of 83,714,950 59 at the real state of the facts since Octo-nances; participation and co-operation in China, joined forces to form a com

ber 12th, when the affidarit and the claim of the premier foreign bank, patriotiem were made. The case has been a long and sense of duty on the part of the pany, which, registered in London under time coming on, and it is more than six people; and soundness and conveniones, the title of "Representation for British and half months since the commence of the Loan as an investment for all Manufacturers, Ltd. has, during the past year, established a joint account ment of the war, and I think it is wrong classrs.-Peking Daily News.

organisation for covering the important one is to postpone these cases, unless

centres of the Chinese Republic, with head 8.500,000.00 | bound to do so in the interests of Justice.

offices in London and Peking, and 3,700,000.00 Inasmuch as I have come to the con-

branches at Shanghai, Hankow, and 585,774.78 clusion thas no effort has has been made

Canzon.-

M

BALANCE SHEET.-ON 31ST DECEMBER. 11. Liabilities

Capital 10,000 Shares of $250

أنا

each equal $2,500,000 which 850 per share has been paid up Reserve Fund -Re-Lasurance Eund Investment and Exchange Flse-

ination Account Underwriting Suspense Account Uncollected Dividends Accounts Payable

Working Account, 1013, as per State-

ment.......... 8039.190.00

Eess Interim Diri

dend at $18 per

Share paid 7)

19th May, 1914., 180.000.00

Working Account. 1914, av per

Statement

Assets

Cash on Current Account and

since the afdamit was made to obtain 290,512.70 further information as to what took 362,682.36 place in Hamburg, I must condemn the 22.210.00 goods upon the materials I have. If

to happier limozi- should transpire that the property did not pass to the buyers, these claimant have only themselves to blame for the los of £100,"

88,408.95 when we come

453,120.00

2,200,687.80

$6,272,406.43

Fixed Deposits with Banks... 991,517,07 Gold Investments:--

British, Indian and Cidonin!. Government Bonds aud. Stocks

Foreign Government Loans... British, Colonial and Foreign Railway Municipal and Port Trust Bonds and Stocks

Silver Investments:-

Foreign Government Loans Mortgages, Louts and Deben-

tures

Other Investments

Agency Halances. Accounts Receivable

N.B.-Investments--

535.883:58 733 470.37

812,611.46

13,461.54

1.907,394.79 198,418.01 9.45,493.57 72.153.14

98,232.408.43

London Stock Exchange Securities have been taken at the values on 31st December, 1914, certified to by the Company's Lon- don Share Brokers except in the case of those Stocks in respect of which the value taken is the minimum price fixed by the Government. Other securities have been revalued as usual. at prices current on 31st December, 1914.

Sterling exchange takon at 1/91.

JARDINE, MATHESON & Co., LTD.,

General Agents.

.....

THE POTENTIALITIES OF BASRAH.

Pár Pair

SUITS

WOOL CREPE, WOOL TAFEATA, VIYELIA," From $6.00 to $10.00 Per Suit,

LANE, CRAWFORD & CO.

THEATRE

THE HOWITT

TO-NIGHT!

ROYAL.

F22

PHILLIPS CO. TO-NIGHT!!

struction Co., Ltd., of London; Dorman, Long & Co, Ltd, of Middlesbrough Thos. Firth & Sons, Ltd., of Sheffield R, and W. Hawthorn, Leslie & Co., Lid of Newcastle; Hulse & Co., Ltd., of Man- chester; W. Laycock, Ltd, of Sheffield: Simon Carves Coke Oven Co., Ltd, of Manchester; together with a number of other manufacturers having complemen Inder the Distinguished Patronage and in the Presence of Major General F. H. KALLY, C.B., tary interests, have, after a careful study of the conditions of trading now ruling

We are informed that this method of co-operative staff representation has been already for some years in very successful operation in other markets by several of the firms named, and, certainly, to any one acquainted with the vastness of the territory to be covered in China, and the difficulty and costliness which the prob

H.E. the Viceroy of India, in the course of an address recently at a meeting of the Imperial Council of India, said:

"As you are aware, I paid a short visit to the Persian Gulf to Besrah a few weeks ago. It was a great pleasure and advantage to me to have an opportunity of enquiring into the whole economic, commercial, and political situation of the province of Basrah and also to visit our of adequate representation there troops in their advanced posts within six must present to any individual firm, it or seven miles of the Turkish camp, which must be clear that much of the start was plainly visible, and to congratulato which German and American manufac prowess and splendid turers have hitherto gained thero has then on their

been due to their having already, to some bearing. One could not but feel very extent, adopted similar lines of working

had also to visit the proud of them all. hospitals in Busrah and was glad to be which naturally lend themselves to the able to verify the fact that all the sick formation of groups or financial syndi Dress Helmets, Khaki shirts, shorts and wounded British and Indian troops cates of the firms concerned, for the are being well and carefully tended. As purpose of carrying out undertakings and pulties to be worn. Jačkets can he carried on the mics. Waterbottlesregards the Province of Basrah it struck under Government or municipal conoes- (filled) to be carried.

THE HONGKONG VOLUNTEERS.

ORDERS BY LIEUT.-COL. A. CHAPMAN, V.,

10 POR. GCS PRACTICE, 1ST MAY. 1915.

1-New 1 und 2 Sections Artillery

Battery and Left Section 1. G C parade at Gun Club Hill, Kowloon

at 1 pm.

PARADES.

2--Parades for to-day (Friday)," Nil

DETALI..

3.-On duty until 7 an. 1st May--Hong

kong V.N.. On duty from 7 a.m. 1st Afay to 7 a.m. 8th May-Nus 1, 2, and 3 Sections Scouts Company (50%.C.Os and men) Officer, on duty (and Orderly Offer);

Lieut Weall,

Orderly Sergeant, Sergt. Hegarty. Medical Orderly: Corp, Davies, The above will furnish guards from 7 p.m. to 7 m. only. Day guards at Headquarters, Garden Road, will be furnished, in futuro by uniis not on duty at the former German Club. Ta furish guard at Headquarters:-

a.m. to 7 pm. Ist May No. 4 Section Scouts Company.

:

7am to 7 pm. 2nd May No. 1 Section Artillery Battery and Left Section M. G. Cu,

7 am to 7 pm. 3rd Mar Cantre

Section M. G. Co.

.. to 7 p.m. 4th May Civil Ser- vice Company. 7am to 7 pm. 5th May Right Sec

tion M. G. Co.

78.m. to 7 p.m. 6th May No. 2 Section

Artillery Battery. 7am. to 7 p.m. 7th May No. 4 Section

Scouts Company.

G. E. STEWART, Capt.,

Adjutant, HKVC.

There is, unfortunately, a

The as one of immense potentialities. sions, etc. Under Turkish misrule it has greatly good deal of justification for the state. suffered and the population of the surment that in the Chinese market the rounding country is consequently very course hitherto followed by British sparse, At small expense the city of manufacturers of leaving their interests Baarah might become a splendid port entirely in the hands of the merchant and the port of exit of all the trado of houses (in some cases of non-British Mesopotamia and Northern Persia nationality) has not resulted in, foreign Merely the fringes of the Shat el-Arab competition being fought to the best have so far been cultivated, but the soil advantage, and it is to be hoped that the is extremely fertile and only the most initiative now taken by the firme above elementary schemes of irrigation are referred to will meet with more success,

We would therefore, offer our cordial required to extend indefinitely the area

The climate is good wishes to this new undertaking, under cultivation. splendid and resembles that of the which we understand is not a trading northern Punjab. I cannot conceive of company for the purpose of earning s country more suitable for Ind an dividende, but constituting rather the immigration in the future. When a more medium through which, by the activities stable form of Government has been of an experienced technical and commer

kept

before prominently established that country may then really cial staff, the specialties and trade marks become a garden of Eden and blossom are

view those manufac like a rose. You are aware of the declara purchasing dientele, with the

ensuring for on made by the British, French and to. Russian Governments of the inviolability tarers an increased share of Chine nhout intention of in

with the of the holy places and of the freedom of business,

placing of Jedda from attack so long as there was terfering

the

no interference with the Indian pilgrims. orders through the established channels of Solicitude for the welfare of pilgrims the indent firms and merebant houses. prompted His Majesty's We are informed that it is the declarel· generally Government, on hearing that there was policy of the representation company to a shortage of foodstuffs at Jedda and avoid, as far as possible, overlapping Mecca to arrange for supplies to be sent with the legitimate sphere of such firms. there for distribution by the Italian who, in the interests of British trade. Consul at Jedda. I regret to atate that and so long as they are as fair to the. the Turkish authorities, in spite of the British manufacturers as they expte protests of the Italian Consul, have those manufacturers to be to them, will sized for military purposes a cargo ofthus aleo reap the benefit of the pro- 30,000 sacks of barley destined for the pil- paganda and technical assistance afford- It is announced that at Eleverdinque, grime. Until therefore we are able to ed by the manufacturers concerned, pro- near Ypres, a priest who was serving with receive some definite assurance that any vided that the interests of such merchant to the Army Medical Corps was celebrating further supplies that may be sent will houses are not identified with thess of the existence and value of the securities Mass in the church, when & German shell reach their proper destination it will be any competing manufacturer, and that Shrapnel impossible for His Majesty's Government they do not handicap competition with for investments, cash at bankers and on exploded above the building. mortgage to the amounts specified. We came through the roof, wounding the to make any further similar arrange foreign traders by trying to obtain an

inflated profit on the transaction. bave obtained all the information and priest very seriously in the head.

C. P. CHATER Merabers of Con- E. SHELLIN

sulting Committee. Auditors' Report. We report that we have examined the accounts of the Com- pany at the Head Office with the books and Fouchers in Hongkong and returns. received from the various agencies for the year ending 31st Deceraber, 1914. We have also satisfied ourselves

23

ments.

AND LAST PERFORMANCE.

DAVID GARRICK,

Nasa suara maining they Followed by the Great

DER

TAG."

by Sir M BARRIM."

This One-Act Play caused fremendo Sensation in London recently NB-50 per cent of THE NIGHT'S GROSS RECEIPTS will be given to the TOBACCO and CIGARETTE FUND for the SOLDIERS AT THE FRONT.

PRICES AS USUAL

COMMENCING "AT 9.15 P.M. SHARP.

BOOKING AT MOUTRIE'S.

Hongkong, 20th April, 1915.

HE following are some of the notable features of the NEW REMINGTON" Models 10 and 11- these Medals constitute another epoch-making advance in the Progressive Development of the Writing Machine

NEW COLUMN SELECTOR

(No. 10). NEW ESCAPEMENT. NEW KEY LEVERS. NEW CARRIAGE.

NEW CARRIAGE RELEASE SYSTEM. VARIABLE LINE SPACER. NEW PAPER FEED. NEW MARGINAL STOPS. NEW BACK SPACER KEY.

(541

NEW BUILT-IN DECIMAL TABULATOR

(No. 11).

REVERSIBLE TABULÁTOR RACK. TYPE BARS.

NEW CARRIAGE GOVERNOR,

Remingto

AUTOMATIC RIBBON MOVEMENT.

NEW METHOD OF CHANGING RIBBON, NEW TWO-COLOUR DIAL OR INDI-

CATOR.

MUSTARD & CO.,

Bole Distributors, HONGKONG AND SOUTH CHINA,

HONGKONG HOTEL BUILDINGS,

Hongkety, 23rd Apil; 1006.

#09)