1921-05-14 — Page 3

CORRESPONDENCE."

EAST.

THE HONGKONG DAILY PRESS, SATURDAY, MAY 111, 1991.

THE TRAFFIC PROBLEM, EMPIRE MEMORIAL HOSTEL AN INCIDENT IN QUEEN'S ROAD FOR OUR MERCHANT SBAMEN.

„ĀTO THE EDITOR OF THE HONGKONG DAILY PRESA,”

818-May 2, through your pages, tell -all those who have helped-to raise funds

The intricacies of the traffic problems in Hongkong were again illustrated in a case heard by air. R. E. Lindell, at the Magistracy, yesterday, -

for the Memorial Hoste. (to be erected 61, mummoned a rich coolie far not Arthur Kong, owner of motor-ear No. the Port of London as the Empire's permitting an overtaking vehicle to pass tributie to her Merchant Seanien) çxactly' biu. the pedition of the schime at the present time!

#

Inspector Garrol said a number of rickshaw were going east, on the tram

Inspector-Garrod:

The difficulty is that he is fast moving traffic, as he gons over four miles an hour.

CHARTERED BANK OF INDIA. GOOD RESULTS IN ADVERSE

CONDITIONS.

meeting of the shareholders of the Char The sixty-sevelt ordinary general

Ching, was hed on April 8th at 33, tered Book of India, Australia, and, Bishopsgate, E.C., Bir Montagu Cornish to having read the notice couvening the Turner (the Chairman) presiding.

The Chief Manager (Mr. W. E. Pres meeting and the report of the andtors,

the Chairman said:-

congratulate Mr. Preston and bis col leagues on the very successful result of his and their indefatigable labours. Nor do we forget to appreciate the efforts of the managers and the staff both at home for many years alled the important posi and abroad. Mr. T. H. Whitehead, who

retired after 16 years arduous und aus ton of chief manager in this bank, has cessful service. He left with the good We hope he may enjoy many happy and of his late colleagues and of the Board. wishes of a very large circle of friends, restful years in the retirement he has so Before moving the adoption of the Preston, who has succeeded Mr. White well earned. (Henr, hear.) In Mr. W-E. port i should like to make a few remarks head, we are fortunate in having a very with regard to the business of the past able and competent chief, in whom the The original building, which was exti. Ines, near the Naval Yard.. Thi com- year. When we mat twelve months ago Board and all who know him have the | mated in 1919 is cost £55,000, will at pro plainant overtook them in his car. sound of great commercial activity. In many fullest confidence. (Hear, hear.) Under

We were in the enjoyment of a period scht-day prices cost £134,000. It has ing his horn. All the ricksha men pull cases the demand for goods exceeded the his management and that of his col therefore been necessary to have furthered in to the side of the road, cept supply, with the result that prices soared leagues, Mr. Bruce and Mr. Miller, we plans prepared, and at a meeting of the the defendant who, by remaining on the sad hounds and exceptional profits were of the bank. (Heur, hear.) You will be to recoril heights, wages rose by leaps have no fear as to the future prosperity Comittee held in January, 1921, these tram-lines, compellet the motor-ear made, only to be swallowed up by the asked to-day to confirm the election of werk subunitted and approved, and the driver to infringe the rule of the rond insatiable demands of the tax-gatherer Sir John Jordan, G.O.L.R., to a sent on building is to ho commenced about July by passing between the ricksha and was very evident that, with an 'unrinary period of service in China from and the omnipresent rate collector. It the Board. Sir John has had an extra- ! (by which time the site will be cleared). sidewalk, or to proceed at 8 miles an settled world and a half-developed mace, 1870 to 1920. By his tact, his diplomacy The new scheme will cost £55,000 and is hour. The two vehicles collided and both this condition of feverish activity in and his genial nature Sir John Jordan a very fine structure, but will contain Pix cubicles instead of 420, although it has

were damaged. “These men,” said the last; but few of us realised that the cal and non-official Chinese which will trade and delusive prosperity could not has won a name for himself among offi been arranges that a further 900 may inspector, "constantly break the reguin cops would come with such lightning, over be forgotten. (Applause.) bensity added later at a cost of £20,000. Bous by remaining on the tram-line"

rapidity. It is not The sum of 100,000 has been raised, and

With soon esto attribute quite fair or re these remarks I beg to move the follow- to complete the building as now planned,

The Magistrate suggested that the man

the disaster to any one particular cause. drinity cost of site. furnishing and inci- might have been charged with not keep-have come into play.

ing resolution, namely: That the re Several causes dental

port now presented, together with the The unsettled well as provide ing to the left kerb, expenses, 28

state of the world, financial disorder in balance-sheet and profit and loss account, endowment, wo still require £15,000

Central Europe resulting in the absolute Sir Alfred Dent to second that resolution, be approved and adopted. I will ask penditure in arms, and munitions and upset of foreign exchanges, lavish ex

Str Alfred Dent, K.C.M.G., seconded various other avenues of unproductive the motion, which was carried unani- expenditure, -and in this

specially the ill-advised action of labour

country, mously.

rendered it impossible to compete with dividend at the rate of 14 per cent, per in limiting the output to a point which The Chairman text proposed, ** That a allowed to work to the utmost limit of stat last, together with a bonus of ds. 3d. other autions where each individual was, annunt for the half-year ended December his capacity without let or hindrance. per share, free of income-tax, be now Nor did we safficiently appreciate the fact that the vast Russian Empire bad declared, payable on and after the 15th temporarily disappeared from the world it." of civilisation; that France, Germany and Italy could no longer participate o formerly in the trade of the world; in other words, that the purchasing power of civilised nations in Europe had dwindled to comparative insignificance So it is that traders in this country and in-America are overloaded with raw material or manufactured goods to ilis pors of, which will take some time, and must, I fear, eatail serious losses. (AsTM Montagu instances of depreciation in values, Sir

quoted biler has fallen from std. per ounce in many examples). larch, 1020, to 321d per quince the serious declines in

Indias and Chinese exchanges has in a measure ac- chairman indicated the great depression counted for the dificulty of the disposal in trade, especially in the East, and, he markets. of manufactured goods in the different thought it was really almost miraculous At many points stocks of that the hourd had been able to present goods in the East are not greatly ex-such asutafactory report and pay such, ressive, and I shall be disappointed if a bandsoor dividend. in addition to plac the surplus stocks are not worked offing a considerable sum to reserve. He the East should be discouraged and of £3,000,000, but by the money which within a measurable distance of timeould like to emphasise that the dividend fut until this is effected shipments to had been earned not only by the enpital imited to bars, necessities of trades 1 the shareholders had provided for the can see no chance of a real and substan- creation of the reserve fund, which was tral improvement in this or other of pur £300,000 more than the capital. He would really settled down to a true and genuine because in these socialistic days it was Eastern markets until the world has like particularly to emphasise that point,

of the world. (Applause.). trade prevails in and with all nations they were earning 20 per cent. on their peace basis and free and unrestricted not desirable that it should go forth that

capital alone.

I earnestly uk n' those who have the welfare of one Samon at heart to help me this final effort in order that all the money needed may be raised before, the foundation stone is inid in July shati gratefully receive and acknowledge any contribution addressed to me, at Wakefield House, 32, Cheapside, London, E.. 2-Yours very truly,*.

(President.) Wakefield House, 32, Cheapside,

London, EC.2

4th April. 11.

BEATRICE DIMSDALE;

COMPANY REPORT. THE MERCANTILE BANK OF INDIA, LIMITED.

The twenty-eighth annual report of the Board of Directors to the shareholders,

The defendant denied that he was on the tram-lines and complained that the motor-car ran him down. There was s lady in the ricksha and, said the defen- dunt, addressing the complainant with some heat, It is very lucky you have uot killed the lady."

The complainant said he was driving at six or seven miles an hour. As the defendant would not poll in to the left he had to go through, between him and

the side walk.

2

The Magistrate: Why not stop? Wibros: I was afraid a tram-car be hind me would run into me.

is

THE DIVIDEND.

The Right Hon. Lord George Hamilton, G.C.S., seconded the resolutiun, which was approved.

The Right Hon. Sir John Newell Jor dan, .C.I.E.. B.C.B. K.C.M.G.. was elected a director and Sir Duncan Cantichael, Sir William H. N. Goschen, K.B.E., and the Right Hon. Lord George Hamilton, G.C.S.1., the retiring directors, were re-elected.

Thus Magistrate: That is the driver's look out. If he had run into you, you would have a claim for damages,

Witness: The Government never pay, pay. (The witness appeared to be under Tram-cars run, into vehicles and ever the impression that the tramway is a

bolders of the Bank the general balines that his car ran into the ricksha and March, 121, a fall of 61 per cent.. the bank. The figures quoted by the

tovernment undertaking). He added broke its mudguard. The nicks har of the car was bent.

statex-

The Directors, submit to the Share. sheet and statuitut of proft and los necount for the year ending: December -31st, 1920;

The Magistrate: Did you stop 7. Witness: Yes: the tram-car stopped, too,

stoppet first.

The Magistrate: You ought to have On your own admission an hour. That he would not get out of you were only going at six or seven miles your way was no reason why you should ran his down. Apparently the ricksha man could not pull in: he says there was a truck on his left.

The witness said the ricksha and just passed the truck.

1

The art profits for the year, after pro- vading for bad nd doubtful debts, and including 98,130 24. 2d. brought forward from last account, amount to £360,038 78. Is. From this sum bae be deducted 400,000, being the interim dividend of 8 per cent, less income tax, on the "A" and "B"

paid in September lant

The Directors have transferred £30,000 to the reserve fund froni the profits and added £300,000 premium on the new "C" shares issued (raising the fund to £1,100,000): added £15,000 to the officers pension fund and written £90,000 "off freehold banking premises. They now recommend a final dividend on the "A" "B" and "C" shares of 8 per cent., less income tax (making 14 per cent. for the year on the "A

The Magistrate dismissed the defen arid: "B." shares and » per cent. for the half-year how he should claim for the damage to dant with caution. The latter asked July 1st to December 31st on the "his ricksha, but the Magistrate told him shares) leaving a balance of £127,639-75. the parties were quits in that matter.

d. to the carried forward.

The following Directors retire by rola damaged his car."

He damaged your ricksha, but you The defendant pro ton, but, being eligible, offer themselves tested volubly and had to be ordered for re-election:-Lord Carmichael Mr. out of Court. H. M. Simons.

precaution of getting the tram-car driver The complainant had not taken the

not secured his passenger to give evi- as a witness, and the ricksha, inan had dence for him, so no further light could be thrown on the incident.

IMITATION PEARLS.

Mr. Frederick Tomkinson said he had to The auditors having been re-appointed,

holders be given to the directors and the propuse that the best thanks of the abare staff for their successful management of

which was unanimously approved.

Mr. W. C. Green seconded the motion,

CAPITAL AND RESERVE. sheet, the capital of the bank now stands

As regards the report and

balance nt £3,000,000, inade up of 600,000 shares

The Chairman, in returning thanks, of 45 each, as against the old capital said that the last twelve mon had been 2,000,000, and the shares of a par value hear) and therefore it was all the more of £1,200,000, increased last year to period of very great anxiety-(hear, £1,200,000 has been of invaluable assist that the company had been able to show af 20. The increase of capital from to the credit of their managers and staff, ance enabling us to meet the require such excellent results. He was very of late, when the demands of our custion, and in being supported by such a ments of trade generally, and especially happy in being chairman of that instit touers, many old and valued friends, very able, efficient, and zealous staff, who have been somewhat larger than usual.

all cases we have endeavoured to meet shareholders.

so ably looked after the interests of the legitimate trade demands as far as the resources of the bank have permitted. Tho reserve fund now stands at

It will be necessary to appoint auditors. Messrs. Cooper Brothers & Co. and Messrs. W. A. Browne & Co., the retiring auditors, offer themselves for re-election. QUAINT EVIDENCE OF A SEARCH £3,500,000, and it should be our object PRINTING LOTTERY TICKETS

CARTRIDGES.

CASES AS

"OLD. BRABS,”

A POLICE PROSECUTION.

bought as sorap brass,

י

to record a conviction and impose only

OF CANTON STEAMERS.

accounts show

AT CHINWAN,"

A CONSIGMENT LANDED AT

SAMSHUIPO.

gradually to increase this figure as op- portunity occurs. It is exceedingly Chan Yau Wai, the shopwalker, form-severe drop in prices to which I have satisfactory to note that, in spite of the erly employed by The Sun Company, who referred, and also to the equaly severe. was found on the Kwong Tung with fall in the Eastern exchanges, our total $1,000 worth of imitation pearls, be should amount to the satisfactory item Samshuipo, charged & Chinese youth at figures on either side of our account, Inspector Pitt, officer in charge of At the Magistracy, yesterday, Mr. T.longing to a Japanese dealer, was again of 270,932,744, against £68,741,695 at De- the Magistracy yesterday with the un- H. King mentioned to Mr. Lindsell the before Air. R. E. Lindsell, at the Magis caber ist; 1910. caso in which the firm of Mak Wing was tracy, yesterday.

While our current lawful possession of 400

lettery charged with unlawful possession, of told the defendant that he had twenty-mi, ur fixed deposits show a very in a house on Changyee Island, Chinwan

The Magistrate' had

He small shortage of tickets, and also with printing the tickets empty cartridge cases contrary to the four hours in which to think of an exability on loans payable, it will be tickets and said that he was paid to ammunition ordinance, and with mis panation of his presence on the ship, noticed, has been riduced from £2,420,028 bring them in from Changyee. With pleasing increase of 1,136,886. Our The defendant admitted possession of the description of the case in connection if his story was true, that his intentious to £1,000,000. The reduction under bills regard to the other charge, he entered with the export permit.

They were old cartridges and had been were perfectly honest. The young man payable to:24,387,612 from £6,681,709.18, plea of "not guilty." The Inspector | rose to the occasion. Further evidence of course, entirely due to the lower ratce said that he was prepared to accept the Mr. King said that he understood that the pearls amongst soine biscuits and in certain quarters been made that banks defendant's plea and withdraw the second was called that he had secreted some of of exchanges now ruling. Criticism has Mr. Tinion, who ap fondants agreed that these cartridges said the defendant, to avoid paying financing this country's trade to the full landing from a sampan at Samskuipo appeared for the de- others in a bed quilt. I did that," generally have not played their part in charge against him. Defendant was seen came within the definition of numuni- tion as laid down in the Ordinance, and duty on the pearls. bo was prepared to give an undertaking to Canton to sell for the complainant," or a comparison of our figures examined were found to contain the lot. I was taking them extent of their resources. think that carrying several bundles which when that they would be mutilated to the Yoshisaburo Hachiuma, dentist's clerk, under the headings of Acceptances on tory tickets. From information received Batisfaction of the police, so that they employed at 34, Queen's Road Central, account of customers and Bills dis from him, witness obtained a permit and might come outside the definition. He who gave his evidence in very good Eng.counted and loans namely, £3,720,508 raided a house on Changyee island where. was prepared therefore to ask the Court fish, said he was a friend of the com- und £28,585,030 respectively, against our the seized a printing machine, a large painant. He had evidently entered into 1919 figures of £1,870,929 and £17,581,304 quantity of type and some lottery tickets the spirit of the affair for he related will convince most that we at least in the process of printing. with great gusto, how, when his friend have done all that, could reasonably consulted him if his distress at losing have been expected of us in this parti fine, or, in default, three months hard Mr. G. 6. N. Tinson said that the Canton steamers and, disguising himself, cash resources to murrent account liabili

Mr. Orme pussed a sentence of 300 pearls, he suggested a search of the clay respect. The percentage of our labour and ordered the confisention of the defendant, was prepared to plead guilty took part in the search. It is to be, tien over 30 per ceat-has not been printing apparatus. The lottery tickets to a chnical offence The facts were. that a similar trade had been going on the defectives the pictures, ad- in addition to which our other liquid

forced that the amateur sleuths, like, allowed to be unduly entrenched upo

were ordered to be destroyed. for a very long time, these out, VENT- ridges were being imported and exported vertised their proceedings rather too resources, in the shape of Government purely as scrap brass With regard touch. There must have been lively accurities and bills of exchange, includ. EVADING THE TOBACCO DUTY the cartridges taken off a ship going to complainant and his friends were to be 4,212,663.

doings that night on the Prays. The ing.. Canton, hie clients thought it would be seen boarding Canton steamera five OUTLOOK IN EASTERN TRADE-

Treasury bills all right if the cartridges wore ham minutes before departars and dashing As regards the future course of Eastern mored and this had been done. Some about the vessels in a frantic search for trade, -it-is-dangerous even in normal Orme, yesterday, with unlawful posses A COAL COOLIE AND HIS “JOB.” were found which had not been hammer the defendant. One of the ship's cap times to attempt to forecast the course sion of 5,000 datiable cigarettes. The A Chinese was charged before. Mr. od, but in the ordinary course they tains spoke of the party as the men of events, and to easy to do so now, defendant said that he was a coal coolie, would have been hammered before being who are looking for the lost pearls so under present abnormal world conditions, and was employed by a man whom he exported. The firm had been in this probably good many other people also would be more dangerous still; but it met on board a ship to take the cigarettes business for many years. Some years became interested in the pursuit of the may not be imprudent to state that a hore. He walked behind the man ngo it was the custom to report "every consignment received to the police, but quarry, police officer, now dead, had told the firm 4 that the consignments feed not be retist the manager of The Sun Company branches, the ontlook in the East is much that he saw the defendant on Prayd East The police informed the Magistrate from our respective agencies and an disappeared. The Sergeant said judged from cables reaching us this week until he met Sergt. Kelly, and then the ported so long as the cartridges were had not attended the Court, although inopier, and that indications from the gaing at a “half double" towards hammered. The defendants, wore pre-asked to do so through the Secretary of several spheres point to a distinctly bet Nallah Lane. The defendant's movements pared to give an undertaking that all the Company.dk the cartridge would be rendored The Magistrato again adjourned the course of time develop (Hear, heat.) imposed a fine of 350, or in default, one ter undertone, which, we hope, will in aroused his muspicion. The Magistrate absolutely useless

The Magistrate imposed a fine of $20, the witness if necessary even

case, and directed the police to subpoena The satisfactory results shown in the remonth's hard labour, and ordered the

See any port are indeed gratificantly wonde day bef

n nominal fine, on the first charge, and he would withdraw the charge of mis description.

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