1919-03-31 — Page 4

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[48

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MARIA REINA

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LANE, CRAWFORD & CO..

FOOK LEE & Co.

Established 1871.

IRON & STEEL PRODUCTS, HOUSE & SHIPBUILDING

& ENGINEERING MATERIALS.

HEAD OFFICE), Nos. Ja, &, Hillier Street. Phone 1174.

·

BRANCH OFFICE: York Building, Chater Road.

Phone 1960,

Tel. Now

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PRICE SENT ON APPLICATION,

THE

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at 5:15 and 9.15 p.m.

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ROBINSON'S.

[101

Tel. No.

*1743.

• COMPANY MEETINGS.

HONGKONG FIRE INSURANCE COMPANY, LTD.

ARCH BIET 1919.

| NEW ENGINEERING WORKS.

The annuint general meeting of the New.. Engineering and Shipbuilding Works, Ltd, Shanghai, was held on March 21st,

Mr. H. E. Arnhold, who presided, said.

"THE HONGKONG GYMKHANA.

TRAINING NOTES.

SPORT.

ASSOCIATION FOOTBALL.

LEAGUR,

Training has commenced for the NAVY WIN THE UNITED SERVICES Gymkhana to be held on Saturday. The tullowing times were recorded on Satur day, un the sand course, the going being

The Slticth annual general meeting of the Hongkong Fire Insurance Co., Ltd., vas held on Saturday in Messta Jardine. Matheson's Board room. The Hon. Mr. are boon very fully occupied during the fairly heavy:

}

Laudale (Chairman) presided and

wern

Pant also present: Bir Shafer, V. M.41., Mesars. F. Maitland, H. P. White. A. If. Compton, and C. S. Bubbny +Contaulting Committee). tires Hoo. Mr. Ho Fook, H. P. Smith, G. W Barton, A. Denison, 65. Giuble, T. E

Perv, E. J. Chapman, R. M. Raymond, H.. Seung, A. I. M. d'Silva, C. 9. R- medios, und F 1) Hall (Acting Secre-

tary).

The result of the year's working has again constituted a record, Our works

past year, as although repair work foĦ | off lightly, owing to the decreased sum ber of vessels which visited this port a

Victory Star was timed over the last mile of a mile and a-quartes gallop, tak ang Umina. #6 1-Isees, and covering the

a resit of the war conditious, this has | Irst quarter in 32eres, been more than made up by the increased umount of new construction work which has been entrusted to us. This, combined with the fact that the Company is now deriving substantiaf benefit from the eva servative policy which has been pursued in the past, explains the very satisfactory results before you.

Pink Eye galloped a ale mati-three artery in mios. Drees, taking 32 secs. over the last quarter.

The CHAIRMAN said: Gentlemen. It gives us much pleasure to meet you again at this, the fiftieth, annoal meeting of the Company with no satisfactory a re- port, and it is propitioue that the half- century should fall at a time when man kind is expectantly awaiting the conclu sion of a peace from the terrible struggle that has shaken the world to its very foundations Caring the past four years.

The Company, as you are aware, was established in the year 1808, and from Buat data onward its career has been one of uniform success, and resorves have been accumulated which place it in a sound Anancial position and one which renders To place to Reserve Fund i qualified to nurt every obligation To donate to War Funds which it has awuned,

This accumula-To carry forward

The balance of the profit and loss account, including Fis. 43,92.70 carried forward from 1917, is Tis, 581.030.06 which it is proposed to deal with as follows:-

Tis.

tion more particularly applies to the inst twelve years, during which period, awing to an alterntion in the Articles which allows of a larger portion of the underwriting surplus being carried to reserves than was formerly the case, the arsete have, a million dcreased by the sum of over

Tytant (bief galloped a mule in zmins. 19sees. Taking 27 secs for the last onarter. Salamansier tuck unins, sees, for a mile, the last quarter being done in

bsets.

Malcolm galloped a mile in tins. Is 4-bsecs. covering the last quarter in

3.4 1-ösney.

Bend Or and Smokebox travelled in company over a mile and a quarter, tak

To pay a dividend of 20 per cent. 0,339.00 last quarter in 34 2-secs. To pay a bonus of 10 per cent, 49.007.50 To place to Material Equaliza

tion Fund

ing 3ins. 02-0secs.. and covering the Rochester was timed over the last mile a mile-and-a-quarter gallop, taking 24 4-5secs., 1nking 39 15sces.

...280.000.00

To place to Depreciation Fund. 25,000.00 To place to Dividend Equalize

tion Fund.......

50,000.00 53.333.38

20,000,00

33,700.18

Making a total of......651,036.00

Turning to the balance sheet, you will notice that the land account has gone up

very considerably: this is mainly due to the purchase of a large piece of land on the the Pootung Paint, which will be absolutely necessary if we me to proceed with our policy of development, to which

will lufer on revert

Sons.

for

the last quarter.

Swallow and Dalesman galloped three- quarters of a mile, taking tuin. 4bees. and twin, 00secs respectively and enver ing the last quarter in 33 and 34sers. re-

pectively.

Excelsior was timed over the last three quarter of a gallop over a mile, taking

min. 40s-er.

Mountain Ford finte Vesuvius Dahlia)] and Flyford (late Firefly) went in com pany over 12 miles in 3mins. 3sces. They did the last quarter in 34 990s.

Greymower was tâmed over the Inst brila of a gallop over a mile and a quarter, covering the distance in min, 176ecs, and taking 329ers, over the last quarter. Alexander took 3mins. 10sees, over

Berning Daylight took amin, 8 3-5seck. over a mile and a quarter, covering the last quarter in 34 1-beos.

On reviewing "the period of operations envered by the report and recounts now ander consideration, you will notie that the

premium incones for both 1917 and 1918 show substantial increase", the

gure for the latter being the highest, the Buildings, plant, machinery, steun income of the Company has yet reached. The losses for the closed year are some

launches: Under this heading there is an $10,000 more than for the year 1916, but increase of Tls. 104,702.90, which is repre- this is due more to the number of fires sonted by the cost of our new slipway.mile-and-a-quarter- than to any one fire of

of great magnitude, there being none of sufficient importance and to the electrification of part of our to call for spreial mention. Loasce for plant, and further by the purchase of new

18 are less by 895,000 than for 1917 at this time last year, but with a further machinery, the creation of an additional twelve months yet to run it is too early motor machine shop, and a new godown.

forecast any result I may say, how-

The cost of upkeep of plant and buildings evor, that the figures to-date promise well for a satisfactory outturn,

has been charged against revenue, and a Sterling exchange has again militated further sum of Tls 25,000 added to depre- against us, the rise from 37 to 3/44 (theciation fund. It has also been decided to rate at which the present accounts are shown) causing a further shrinkage of erect a house for our Managing Director. our gold assets as expressed in local our- in the neighbourhood of the works.

At the last annual meeting it was decid ed to transfer Tla. 50,000 to reserve fund, whereas the actual amount appearing as having been transiered is only Tls. 21,866.62. The balance of 195. 28,333.38, has been transferred to a staff provident

rency.

The investment and exchange fluctus tion account hae & good deal more than beld its own, this being due to the slight appreciation of securities generally and to the favourable rate of exchange he

ween Hongkong and Shanghai raling on the 31st December last, and we have been able to retransfer the sum carried to this account last year back to working secount 181

1917. This reserva now stands at 8156,987,34, figure which your direc tors consider sufficient to meet all pos- sible contingencies.

The surplus to be dealt with is 8940,767,63, and we recommend the pay- nent of the usual dividend of 887 per share and the appropriation of the balance of $124,767.83 to our reinsurance Fund. The staff have not been forgotten, and you will, I trust, approve of the Consulting Committee's action of voling a bonus on their salaries of 15 per cent, as bas been done in the previous two years.

fund. During the course of

of the year

your Board came to the conclusion that if we wished to retain the services of our staff, it was desirable to introduce a pre- viccnt fund, and it was further decided that in order to make this worth while. this fund should be made retrospective, us from the time that foreign members of our stuff joined the Company.

Hongkong Bank-Tis. 410,215.71: Our overdraft at the end of the year is rather high, but this is due to the beavy outlay we have had in purchasing new land. Such extensions as we have already made have not only fully justified the initial outlay, but have encouraged us in pur suing a policy of further development

The new slipway referred to was Con picted early in the year, and has since I would recall to your memories the accommodated many small craft, and Chairman's speech of the 28th March thus relieved the dock and left it free 1017, when he asked shareholders to do for larger vessels, but spite of this, their utmost to give the Company all posa great deal of work continues to go sible

aupport that lies in their power. past us owing to our having, only one Competition is keen in these days and dock. Your directors, therefore, have in we think, grow more so as business contemplation the construction of another gonetary again settles down, and we na- dock. With this in view, and the increas

look

to you, who are financially ed amount of new building we are under- interested in the Company's welfare, to taking, we had to provide for future give us all reasonable assistance.

extensions, and

atly decided consequently now propose the following resolu- purchase the only suitable site still avail tion: That the report and accounts able, to which I have already referred. us presented, including the payment of The piece of land acquired has over 350ft. a dividend of $27 per share, an addition of river frontage, and you will thus see, to the reinsurance fund of £20,924 118. d. should prove ample for future require- at exchange 3/41-8124,767.03, and the monts, and the carrying out of the views payment of a bonus to the staff of 16 per which we have for its development. cent, upon their salaries be adopted and passed.

Mr. A. DENIJON seconded this and it was carried unanimously.

to

The report and accounts as prosented were passed with 10 dissentients.

The payment of a dividend of Tis. 1 per share and a bonus of Tla. 0,50 per The CHAIRMAN: As stated in the report, share, for the 3.ar ended. Urcember 1st, all the old members of the Consulting 1018, was also carried, with three tis Committee seek re-election, and Mr. Tsentients.

director

1

Wedding Bells and Hector galloped to gether over a mile in 2mins, 192-6seca.

Morning Star and King John covered three quarters of

5'1-5ces, taking 33sees. over the last 1 mile in Imin.

quarter.

Lovejoy (late American Chief) negu tinted the mile in 2mins 30secs., taking 31secs, over the last quarter.

date. Scores 1 --

CRICKET.

The Civil

By defeating the Hongkong FC on the Chib ground, on Saturday, the Navy become winners of the

S. League. Although the gaine was late in starting,

The Club lined up with only four for wards, Hamilton. the missing player, turning up shortly afterwards.

The Navy quickly assumed the offensive, and McCubbin stopped MeNirrn when be looked very dangerous. Several shots were attempted that caused Rodger very little trouble, but a fine one from Neal from well out in the field nimos dearved to Cafe.

The Club then paid a brief visit to the other end but without success, and the sailors brought the ball back again and made a combined attack on the Club citadel. A guai seemed cer tain, but Rodger effected a marvellous

clearance. The ball then went to Travis, who had only the goal-keeper to brat, but he missed his opportunity, shooting prat the upright. The Club goal then under- went a arvere bombardment, but Rodger, who was in magnificent form, beag off all anyaults. A lovely centry from McNiven resulted in a shot being put into the goal. muuth which brought Rodger to his knera, but be punched away in the nick of time. At the other end a free kick awarded the Club almost brought the desired result. Cracker gathered the ball, but was un hemmed in by opponents that he was un- able to get rid of it.

In trying to clear he was slightly injured, but soon recover. ed. When the interval arrived neither side had scored.

the

to

ap.

On resuming, the Navy attacked again and put in a couple of fing shots which, Rodger dealt with successfully. Another attempt by the sailors gave McNiven s chance to get into shooting position, and he sent in a hot shot but was unable to get it past the alever Clubs goal-keeper. Then the Club adopted foreing tactics, and

McTavish, having benten field, was weil un the way wards the Navy gual, when be peared to be tripped practically on

presumably, considered the fall accid- the penalty-line. However, the referee,

ental, and no free kick was given, the sailors eventually getting the ball away after the Club had been awarded a corner. At the other end Stewart got the better of McNiven in a charging bout. Club then got through again, Rasmussen being in possession of the ball. Crocker came out as a last resource, and, luckily for him, Rasmussen shot atraight at him,

Tho

CIVIL SERVICE. UNIVERSITY,

The only cricket match commenced on Saturday was that between the Civil Ser-nabling him to gather the ball and throw it clear. Shortly afterwards, the |vice and the University." The ground was

soft and the ball slippery.

Club bad another chance to obtain tho Service batted first, but a heavy drizzle, lead. Once again McTavish proved to be which fell after they had scored to for considerably faster than the opposing the loss of 3 wickets, forced the abandon defence and gained a clear lead about ment of play. This League match, there twenty yards from goal.

Crocker was fore, will have to be replayed at a later helpless, and this time stayed in his goal, but McTavish, when only a few feet away, spoilt a fine effort by a wretched shot, and Crocker was not even called upon. After this, the Navy again took up the running, and Reichelmann brought off a fine clear. ance. Rodger saved a smart shot from Travis, but, shortly before the end of the game, McNiven gained possession and gave the custodian un chance with a shot at close range. This was the only goal of the match, and it enabled the sailors to win both the game and the league,

CIVIL SER VJCD.

A. E. Wood, st. Ponsonby Fame, b

Wright

..... 30

B. W. Bradbury, 1.b.y., b Marley. 11 P. T. Lamble, b Marley H. E. Strange, b Marley F. Ling, not out

Extras

Total (for 4 wickets) ... 95

13

&

W. Hamilton, W. H. Edmonds, C. Sara, R. R. O. Bird F. Syme Thomson, E.

and C. Severn did not bat-

Marley Wright

Bowling Analysis

0.

3. E. 12.5 0 57 12

B2 0

W.

3

COMPANY REPORT

T.K.K DIVIDEND.

The regular meeting of shareholders of the Tayo Risen Kaisha was fixed for March 28th. It was expected that instead of a 50 per cent. dividend

KONGKONG LEAGUE, DIVISION IL STAFF AND DEPARTMENTS, 1; 8r. - JOSEPH'S COLLEGE, 0.

This was a very pleasant game on the Club ground in the junior division. The College men were all at sea on a slippery ground.but they played well. The combine tion of both sides was at times very good. The only goal of the match was scored by vented, by the elippery ground, from Street in the first half. Omer

nur being pre turning quickly enough to aleat. In the second half the defence of each side sp peared to advantage, although

on one in by rushing at

ball that he have left to his goul-keeper and almost Ellarby in

the directors would recommend the pay conston Wain almost let his should

cent

2 into the net.

in some vigorous kicking, but the

E. Pearce has accepted an invitation to The appointment of Mr. 3. H. Dollar oin. Under the Articles of Association, to a seat of the directorate was confirmed, and Mr. J. W. C. Bonnar was re-elected mittee romains as fixed at a general- meeting until altered by à subsequent The directors were authorised to appro- general meeting, and, in view of the face printo out of the proâts of the company, that on the election of all these gentle and distribute as they see it, the sum of men the Consulting Committee will con

TIS.

20,000 as'n donation to British war sist of eight names instead of seven, it

funds.

ment on this occasion of 25 or 30 por becomes necessary to pass a resolution of The Chairman said that opportunity this character Hitherto, the fos to each would be given to shareholders to state zomber hie

hom $1,000 per annum, and their sentiments relative to the proposal It is reported by the Omka Asahi that tho proposal is to retain that individual to issue shares at a premium of Tis. 15. this reduction is due to anticipation, ball generally went rather wida of goal. seple,

which will ineranso the remunera The only question which arises to my of hard times coming. Tho T.K.K. cnjoy The result assures the Staff and Depart- tion paid by the Company from 87,000 mind (said Mr. Arnhold) is as to wheed enormous profits during the war, butments of the second position, with just a por nanum to 88,800 per annum, and I ther it is fair to shareholders to issue the will probably feel the effects of the pence possibility of feel sure that this will commend itself shoren at the high:Bguro of 20. 1 Jo to shareholders,

Blump even more keenly than the other not hesitate to say that, in my opinion, lines. What with the slump in. nitre and Sir Paul Chater, Sir Robert Ho Tung, it i The premium on a new issue of the many complaints of the quality of Mors. A. H. Compton, H. P. White shareholders not desiring to take up the Amerion, there

30,000 shares would be Tis 400,000, and Japanese goods received from South F. Maitland, O. 8. Gubbay, and T. shares they are entitled to, would be Consulting Committee, whose remunera tion was fixed at 88,000 instead of $7,000, on this T15. 450,000 sf

Fook which will have been obtaking capital,

་་

TIB.

Pourco ware, unanimously blasted the participating, in the extra proāts earned in the South A prospect of a declino

The

of winning the league,

ATHLETIC RES., 1.

BST 00. R.G.AU; SOUTH CHINA

Played on the Navy ground, this matali trade, which is

resulted in an saey victory, for the the T.K.K.'s speciality.

soldiers. In the Brs, low minutes on the motion of the Hon Mr. Ho Fook any coat whatever to the company that war, not because of any fault in the third was obtained by Dawson, and the company was Rover able to make Dawson opened the scoring. Celtman without

outthe South American trade pay before the alaimed the second, from a penalty. That Bonded P. Smith had' A. R. Lown into quy, to the prosent shareholders

Мсент worg re-appointed auditors at a remun A

17. Barton

resolution wis carried with only two management, but because of having to fourth by Youll, who preceded it with oration of 1600 cacb,- on the proposition in waters requesting the directore same fro, fuividual pub In the second half, of Mr. G. Grimble, soo

seconded by Mr,

vid call sh extraordinary general meeting world, while other companies in the same Moss added another for the gunners, the of the company to consider a resolution listance, would have a dozen porté of call; | Athletic responding by boating Gladwin authorizing the issue up to 20,000 of theBesides this, atlier: companies, envious of" with a good shot. There was no further unfktura sharon of the company, which war profita, havo mado-arrangements to soupily, the Artillery winning, ng stažas, aliares thul diet be onored to sbarcholdete, compete on this didele yun.

Lesing.

The CHAIRMAN Announced that divi, dond warrante, Wore "rendy and could be had on application.