1917-05-10 — Page 3

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COMPANY MEETING. INDOCHINA STEZ

STEAK AVIGATION COMPANY, LTD.

THE HONGKONG DAILY PRESS.

is hoped that it will meet with the general approval of shareholders It will be noted from the balance sheet that your Directors have, as is only right and proper, placed as much as possible of the surplus funds at the disposal of the Home Government, and approximately half a million sterling has been invested

is now touching “as -more- narrowly | and it behoves us not only to yield up thots, vessels demanded by the Govern- >ment with good grace but to feel a cer- tain amount of satisfaction that it is within our power to render material assistance to our country in her hour of need. From a purely business stand in war accurities which will undoubtedly point it is to be hoped that vesicle re-

The 30th ordinary general meeting of the above was held at the offices of the General Managers, Messra Jardins Matheson & Co., Ltd., yesterday at noon The Hon. Mr. CE Anton presided, and those also present were:-The Hon. Sir Paul Chater, C.M.G., Sir Robert Ho this connection it may be asked why so Tung, and Mr. A. O. Lang (Directors), are a cash balance should have remain, and Messrs. P. C. Potts, G. Lammerted in the hands of the General Managers GK. Haxton, Ho Fook, Ho Leung, M.

THURSDAY, MAY 10TH. 1917.

SPORT.

TENNIS CHAMPIONSHIP.

GREEN EASILY DEFEATS NISBET.

From a spectators point of view the contest between Greon Nisbet for the tennis Championship of the Colony was a very pour affair. There was one Surprise in the game, and that was the

meet with your unqualified approval. Inquisitiond by Government rective acas with which Green, the holder, de-

|

feated Nisbet. The latter may have been sufering from the effects of too much tennis, for he played is hard doubles on Tuesday evening, following his game

fair quid pro quo and that in view of the very high freights still ruling in local waters we shall receive a return undream believed that for many years to comet Ng Bze Kwong, but, lie that as it

shipping will continue to enjoy great pro-

R. Lo, Le Cheung Shui, R. Hancock, Eat the end of the year, and I may exed of some, three years ago. I for one W. Raymond, D. A. Loughlin, E. A. M. plain there were special reasons for this as certain arrangements which, howover; Williams, E A. Beaumont, C. Soares, GC Moxon, W. Logan, L. N. Leefe, B. Basto, E. Danenberg, H F. Stoneham, B. D. F. Beith, A. V. Apcar, Chan, Ming, Ho Shai Wa, Chan Nga, A. B. Stewart, PM. N. da Silva, Hoki N. MacIntyre,

did not mature, were then pending which would have entailed heavy cash payments, hence the necessity for considerable liquid funds. I may also mention that since the close of the year further in

J. M. Alves, D. McMurray R. Myestments in Government securities have Austin, G, M, Shaw, A. M. da Silva, H. Ruttenjee, LA P. Leite, US Remedios, F. J. V. Ribeiro, Ho Shai Kit, Li Yun Kur, Chan Shui Nain, J. Dobie, PH. Rolfe, L. E. Remedios, Ho Tu, Hon Wong, A. H. Mda Silva, S. E. Grimstone, E, A. Aucott, O. Woodohead, W. MacDougall, Ho. Kwong, NLE Railion, Ho U Sang and E. Edhuar with the Secretary, Me, P. Sutherland.

The Secretary having read the notice convening the meeting,

been made. While it is not my desire to sound a note of alarm, still it is only right and proper to refer to the new British Shipping Board of Control which has been formed at Home for the pur pose, as I understand it, of opportioning the tonnage of the Empire to such trades as are most essential to Imperial needs, Heavy inroads have already been made into Far Eastern tonnage, including vessels of this Company, and, from the present outlook, it would appear that the Shipping Controller may shortly furthor extend his activities in these watera. Admittedly, in the present extraordinary circumstances, national requirements

may, he shaped very poorly indeed, and

ed, and retained his championship title thus it was that Green was never extend- by infinitely in a very easy manner, and

Thors werd a few occasions when superior tennis Nisbet seemed capable of returning to something like the form he displayed against Ng Sz Kwong, but they were so few and to infrequent that the result of the contest was never in doubt. From the

int of view Green was superior avery post was splendid throughout, His placing he was never wanting when it came to

Green and when

hen tactics pure and simple net play invariably weakness with were needed Green was equal to every. of his back-hand drives were remarkable, and on many occasions he made a back-hand return

isbet com

sperity even long after the inevitable defeat of German barbarism and the return of Peace to this much troubled world. The appropriation of our profits as defailed by the Chairman appears to be wise and prudent, and it is to be noted that the interest now accruing from the investment of our surplus fundsgalore affords a very handsome return on our capital without taking into consideration the profit that most still obtain on our working account even under new conditing. Some Lions. I trust with the Chairman that in after days if it be found that by pro bent sacrifices we have lost any advan- age we now hold on certain routes we shall receive such adequate support from our Government as will enable us to hold our own against all comers. I feel sure in common justice this will prove to be I am pleased to note that the the Chairman has, eulogised the labours of the staff, who must in these difficult times have had many thorny problems to tackle and to whom a real debt of thanks is duo for their successful energy

case.

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UNDERVESTS FROM

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EXTRA LIGHT WEIGHTS IN

DAY AND TENNIS SHIRTS. I

The CHAIRMAN said Gentlemen, the report and statement of accounts have been in your hands for some days; I trust therefore, they may, with your approval, be taken as read. "The report, as you will have scon, states that the very exceptional earnings of the Vear under review were 'argely due to satis factory rice crops at Bangkok and Saigon, coupled with a general scarcity and heavy"financin) outlay, can only hope spent the masters, officers, and crews of Nisbet was not to the corner where MADE FROM

of tonnage. It would appear that dur ing the year, owners, of neutral steamers of this coasting type found a more pro bitable sphere of operation elsewhere than in these waters, and, in contoquence of this, à strong demand for tonnage was in evidence on the China Const, and local owners were enabled thereby to reap some of the benefits which steamship companies in other parts of the world had already been enjoying for a considerable time, Throughout the whole year ordinary.com tubreiat trade conditions remained fairly good, except in July and August, when there were disturbances in Kwangtung

must have first consideration. British Companies, however, who may, by deple- tion of tonnage, be obliged to relinquish or cortáil long established trades, built up and maintained by ceaseless endeavour

that Government assistance in some shape

at the conclusion of peace that alien.

cannot sit down without adding a word

the aide or back line leaving on to pletely & a standstill. In addition to this Green's returne and service seemed to have much more strength in them, and on several occasions when Nisbet practised the trap which upset Sze and slicing the ball very obliquely he Kwonga lob a follow up quickly, found that this lost him points, for Green would be well up and sonash quite out of reach. This was another feature which was a weakness of Green's last year. Never once during the whole game-and it only went to three sels in match which was the best of five-did Nisbet seem like pulling the game out of the are. At the end of the first set the last game was taken to six deuces, What was nothing more nor less then a gentle poko" and it was eventually won by Creen with

The first set deservedly went to Green, 82. Nisbet won the first the after but this was merely a feeler, as

Nisbor also won the opening game of the second set, and Green went on to win events proved. five games in succession. Then Nisbet won a love game, and also the next game

beyond doubt by winning the next game and set in very casy fashion. after a struggle, but Green put this set

BER

or form will be forthcoming if it is found steamers that earn the money in this game, Green failing to register a point, great war very many men of British race have performed and are performing deeds of heroism, and second to none in this respect, I am sure you will all agree, are

of the terrors that infest the seas in these those of the Mercantile Marine. In spite dark days-terrors unknown in previous The only other occasion when Nisbet wars-unspeakable in their cruelty and looked like making a show was half way

through what

proved to be the final set. eavagery. I read in a recent speech of a The scores stood at 4-1 in favour of Cabinet Minister that not a single sailor, Green when Nisbet won two games lo officer or man has refused to put loosession 28 the result of tennil which

flags predominate on such trade routes This is a subject giving much food for thought, however, and scent justice can be done to it in the narrow confines of a speech such as the present occasion calls for A-regards the tonnage of our fleet, you will note that the Leashing was sold at what can only be considered a very handsome, profit, while the first of the two new steamers now being built by the Hongkong and Whampoa Dock Co., Ltd, viz, the Kwaisang, will he handed over to ha almost immediately,

whatever big route or destination.

believe they are all made of the same good stuff and I feel convinced, when we

and business conditions again and her sister ship, we hope,, some time have at length won out in this terrable in a very easy win for Green, who thus

which, however, (fortunately simmered down resursed a more or less normal character The fact that mercantile vessel of the Allied Powers are able to operate in Far Eastern waters, practically undisturbed

in August. I consider a word of thanks to the Company's staff, both afloat and ashore, for their good work and excellent results, is well deserved. The year has been beset with many difficulties, but

conflict, future historiens will record that the result was largely due to the undaunted spirit of those who man our splendid Mercantile Marino, and to them we owe unstinted gratifide. With thest

in keeping with the form he die played against Ng 8 Kwong, The spectators looked forward to a fight, but ceeding game and Nisbet the next, and this was shortlived. Green-won the suc the game, which proved the last, resulted won the seo and deservedly retained his title of champion of the Colony.

The full scores were 6-2, 62, 64

Thore wa

large crowd present, to

and og H. E the Governor Lady May witness the match, the spectatore incind and the Misses May; the Hon. Mr Cand Bovern C:M.G., and H. E. Mij General Ventris. The proceeds of the

Obarities Fund,

WEB&

seconding the adoption of the report and match are to be devoted to the War account now before you.

by the tumult of war, spcake highly for have worked conscientiously and will words, gentlemen, I have great pleasure in the offective organisation of aval patrols; and also reflects great creditingly in the Company's interests. Special mention should be made of those of the on the Naval Intelligence Department which plays & more important part in floating staff who, at the call of the the general scheme of affairs than appears nation and at a moment's notice, have meeting, and was unanimously

The proposition was then put to the

carried

Mr. LOUGHLIN proposed the confirmat tion: of the appointments of Mr. G. W Barton Directer from May 20th ta

December 20th and of Mr. A. O Lang and Mr. H. P. White as Directora

MY LAMMERT seconded, and this was carried

Mr. Donie proposed the re-election of Sir Robert Ho Tung and Mr. AO. Lang

as Directors

Mr MCMURRAY. seconded, and this was agreed to

HONGKONG MAGISTRACY. MURDER CHARGE

Sergt MacDonald charged a Chinese with the murder of his foster mother at Chin Wan. No evidence was taken,

formal rernand being granted,

FREE PASSAGE

Four Chinese were contenced to one. month's hard Ishour each for traveling from Swatow to Hongkong b Haitan without paying their fares. Chief Officer Thomson said the men were found among the passengers in the 'tween decks. He added that if the Company did not make an example of some of these people the ships would be over-run with such, men.

Mr. Ho Fong proposed the re-election. of Messra, Love, Bingham & Matthews, as auditors to the Company at a re-

ARMS SMUGGLING. muneration to be fixed by the Directore

Mr. LEEYE seconded, and this war When a Chinese was charged with being carried chicin possession of 30 brand new revolvers,

left for practically unknown destinations on the surface. While our operations

in requisitioned steamers. I am proud to have been largely confided to the ordinary say that notwithstanding the discomfort mercantile trade, I may mention,, gon and the parting of family ties, there has tlemen, that your Fleet has also done a been no complaint, and I am glad of very full share of war work, and, as time this opportunity of voicing the Com Brea on,, the tendongy, doubtless, is for pany's appreciation of the patriotic theration to avail, more extensively of spirit which prevail

throughout the our tonnage. Of this matter, however, I. It now only remains for me to * iutend to speak later. Turning to the state

move the adoption of the report and ment of accounts, you will, I think, agree

accounts as presented, and as soon as that they are set out in full detail, and this has been seconded, I shall be glad to should require little explanation. The

answer any questions with respect to gear tate has shown mest satisfactory

thero. I therefore propose the adoption results, and your Directors, after most of the report and statement of accounts careful consideration, recommend the as presented, including payment of a final appropriation of the balance of revenue dividend of å per cent, on the preferred account in the manner set forth in the shares and a final dividend of 40 per cent report. As explained at our last annual

to deferred shareholders, the placing general meeting, it is very necessary to

of £100,000 to general reserve fund, build up our reserves to a satisfactory £50,000 to underwriting account, £30,000 figure, and to so place the Company in

to special repairs and financial position to meet bad times which all too regularly follow. years of plenty You will note we propose to account, and that the dividend on shares place £30,000 to special repairs, and re- on the Hongkong Register be paid at newals accounts; this is necessary for the exchange / per dollar. same reason as explained at last year's moeting, viz, that owing to the present high rates of freight we find it to the

t Company's interest-be-run the steamers of the fleet as expeditiously as possible, necesitating the postponement of certain

The CHAIRMAN That is all the business, gentlemen, I thank you for your attend Dividend Warrants can be had on application tomorrow.

which he was caught conveying from the Siberia Maru, Inspector Kent asked for a heavy fine to be imposed, in order to prevent this sort of thing going on; it was becoming somewhat common. ***

Mr. Melbourne decided to impose a fine

months hard labour.

to carry forward als secounts HONGKONG'S WATER SUPPLY, of $100, with the afternative of three

18. Ad to: 1937

"Mr. Moxos, in seconding, said Gentle men, I feel sure that the figures now Isid before this meeting will give general satisfaction to shareholders. The Chair- man has commented so fully that he has oft little to add. As he has stated, it

A SUBSTANTIAL DIMINUTION,

$123,29

5.

VIOLENT JAPANESE Three Japanese shamen, all of whom had more or less damaged features,

appeared before Mr Wood on a charge of being disorderly the previous night,

Inspector Sim explained that the thres their countrymen, went into a Chinese defendants, along with three other of testaurant in Queen Road Last betweela

od 10 pm. They ordered six plates of beefsteak and some drink, and, after

The water re-urn of the Colony for the month of March, hows that the storage In the City and Hill district reservoirs on April 1st, was 112:10 million gallons against 301.46 million "gallons or the same dato last tear. The consumption during March in this district was 105.24

lion gallons by car estimated popula tions of 297,913, or an average, dalysed sumption per head per day

gül- bor in the same month of estimated population of $4,319 consump

consumption per head per-day: to be taken in hand. General reserve and the navies of the Allies that it has been gallons o

In the Kowloon reservoir underwriting acount are also to be possible for our vessels to operate these on April 1st, was 146.93 mil credited with 2100,000 and 250,000 respec: past 23 years on their normal trade routes against: 204 24 million gallons

kandate last year befo tirely. With regard to the proposed anal free from attack or molestation by our uring March by

The total

estimated dividend on the deterred phares, I would fishless And by so doing not tion of 99,800, was 23 75 million only say that in the opinion of your only directly to advantage shareholders day of 113 gallons In the corr

an average consumption per head Directora, as liberal a distribution of in this Company but enable us to con- funds is proposed as the position and tribute no small sum to British War prospects of the Company justify, and it Loans. It would appear that the War

repair work which will eventually have must be a matter for profound pride in million gallon Zving an average they had finished this course, ordered six

more plates of beefsteak This having been satisfactorily dealt with six, plates of macarons were ordered. Then a dis pute arose among the six men, during ayhich a quantity of crockery ware wan spraaked up and a window was also, broken The police whistles were blown, and the three defendants were brought to the police station by Police Reserves. The second defondant drew s knife dur- his perto the year a million gallonsing the quarrel but did not use it were consumed by an estimated popul · Lach of the then "was ordered to pay per head per day of 11.2 gallings. tion of 93,000, an average, popsumptions fine 3. $10, and also to pay #1 each 18 compansation to the restaurant owner. h

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