1921-05-30 — Page 3

THE HONGKONG DAILY PERSS, MONDAY, MAY SOTH. 1881.

HONGKONG AND SHANGHAI financial institution since the last pre

BANKING CORPORATION.

INCREASE OF CAPITAL

war year of 1013 that he felt certain

that the present proposal of the Direc

STOWAWAYS ON THE

**WENATCHEE."

tors, was netuated by the same wisaWANTED TO A large amber of shareholders policy as in the past. In his opinion,

SEE AMERICA,

DEATH

OF SHANGHAI'S SENIOR MEDICO,

DR NEIL MACLEOD.

At the Magistracy, before Mr. G. N. News has been received in. Shanghai attended an extraordinary meeting of shareholders might be confident that, Ome, on Saturday, a Portuguese and of the death of Dr. Neil Macleod, which the Hongkong and Shanghai Banking by this time next year, when financial seven Filipinos were charged with occurred on May 19th. The telegram Corporation, held at the City Hall,matters in Great Britain had bad time having atowed away froul Manila on the conveying the sad news, the Y.-G. Daily Hongkong, at man, on Saturday, to conto settle down a bit, shareholders would

News says, mentioned that death 'bad' 5. Wenatchee, find themselves possessed of shares worth Bider resolutions to carry into effect an

The Portuguese and two of the Fili-occurred following upon an operation, £100, instens of the £70 they paid for pisos said they signed on in the ship tion. It was proposed to obtain an

The second officer of the ship admitted that the Arst two men had signed on for a round trip, but on arrival at Manila, they demanded their money and volan tarily signed off. Consequently they have no more claim, on the ship. With regard to the third defendant, he had no record of his having been on the ship's articles.

Inspector Spear said that the American Ceasul had undertaken to take the men in hand after they had been dealt with by the Court.

The defendants were sentenced to 21 days' hard labour each..

:

his

nase.

that with the exception of his son, Dr. Douglas Macleod, the whole of the family is meantime at Home.

Dr. Macleod, who was 74 years of age, was in every sense a remarkable man, and what Shanghai owes to him is dif feult to estimate. He was of the type of the rugged Scottish Highlander, a man of fine physique and very powerful mentality, and right up to the end his mind was sa vigorous as ever. He was educated at Edinburgh University, and after taking his degree was for some

increase in the capital of the Corpora them. The capital of the "Bank, when in America for a round trip, but when which; his friends locally think, mnat

they reached Manila, they were dis have been performed upon amendment, if the Ordinance under increased by the fays millions sterling charged. The other five defendants. said Dr. Macleod left Shanghai for Home which the Corporation is incorporated proposed would be twenty millions they had no connection with the ship about March 25th fast, and it so happens sterling. We have silver reserves of Their object in stowing away wan to to make it possible to increase the 31 millions sterling, continued Mr. "son America. capital, from time to time, from 20 to 50 Pollock, and when I turn to the ques million dollars, und to increase the tion of sterling reserve I find the figures capital immediately from 15 millions of extraordinarily striking, because we dallars to 20 by the creation of 10,000 started the year 1990 with a sterling new shares of $125 each, to be issued to reserve fund of 13 millions, while during shareholders at £70 per share.

that year we increased the sterling The resolutions to give effect to these reserve fund by the addition of proposals were carried wm cause

£1,000,000, by employing silver for that The Chairman of Directors, (Mr. purpose at the very favourable exchange 'G T. M. Edkins), presided and there of os. & per. dollar. When the new were present: Messrs. G. M. Dodwell, capital is issued we shall have a further D. G. M. Bernard, A. S. Gabbay, A. O. payment of gold reserve, or, rather, Lang, W. L. Pattenden, J. A. Flummer, sterling reserve-of £2,000,000, or there and H. P. White (members of the Court abouts; in other words, whereas, baly of Directors), A. G. Stephen (Chiefa year ago we had a sterling resorve Manager) and the following sharehold-of 1 millions, we shall have, in a few Jers-Hon. Sif C. F. Chater, Sir Ellis months' time, a sterling reserve of 4

Kadoorie Hot Mr. HE Pollock; millions Mr. Pollock said that those B.C., Hon. Mr. Chau Siu Ki and figures showed that the Directors were Hosts A. H Harlow, J. McArthur, building up a good reserve for the Bank V. 31. Grayburn, G. B. Dunnett, and putting it in a very strong financial CG. Adnius, A. V. Apcar, position for the future. He, therefore, Bevington, H. Birkett, L. Dunbar, E. felt safe in prophesying an increase in Chapman, A. Murdoch, F. C. Hall, H. the value of the shares from £10 to £100, Humphreys, P. C. Potts. T. E. Pearce, and, haring regard to the able way in G. Miskin, E. J. Grist, R. M. Dyer, which the Bank had been directed and D. J. Lewis, E. A. M. Williams, managed in the past, he felt confident B. Hancock, Lo Cheung shiu, A that the resolution would set with the Bowes. Smith, J. H. Wallace, Chan

at.. support the shareholders.--(Ap- Shin Ming, C. Edgcumbe Ho "Kom plause). Tong," E. Ormiston, A. S. D. Cousland, Ho Leung, Ho Cheuk, W. B. Kennett,. A. R. Austin, A. P. Samy, Lee Kun Tsun, Li The Fong. Lo Man Hin, W. G. Joseph. V. Benjamin, Fong Lang, Ng Yuk Chi, J. Bell Irving, Lo Chung Wan, Ho Wing, A. B. Raworth, Mok Kön Sang, Mok Man Chee, A. Findlay Smith, J. F. Grose, D. V. Steavenson, A. D. Gee, A. S. Elis, H."W. Birty and Fr.

Robert.

The CHALEMAN Gentlemen, There being a sufficient number of shareholders present and a sufficient number of shares represented to form a quorum under the. conditions of the Deed of Settlement, I will now ask the Chief Manager to read the notice calling the meeting.

The Caier MANAGER having read the notice

The CHAIRMAN mid-Gentlemen, you have invited to attend to day to consider proposals in connection with the in- ercase of the Bank's capital and, you; approve of these proposals, to pass cer- tain resolutions necessary to give effect to them.

The question of the increase of our éapital is ore which has occupied the attention of the Court of Directors for some time. At the General Meeting of Shareholders held on the 26th February last, my predecessor of the chair in re ferring to the proposed increase of Capital, called attention to the steady in crease of our business; the expansion of Far Eastern Trade, and the widening feld for the employment of Foreign Capital in China. The circular letter of the 12th March, last, which has been in your hands for some time, fully sets forth the scheme for the increase of Capital and I need only add that your Directors are confirmed in their opinion, that it is a good thing alike for the Shareholders and for the Customers of the Bank.

The necessary resolutions will now be put before you one by one and an op- portunity given you to enquire into or discuse any points which may, in your view, call for explanation.

The CHAIRMAN:-- now beg to propose the Erst Resolution:-

The motion was carried."

The first defendant asked permission tu interview the Portuguese Consul say ing that he had a permit from the British Consul at Manila to come to Hongkong.

The Magistrate: That is very nice, but you cannot travel on a ship without a ticket. You can see the Consul after 31 days.

WESTERN

DISTRICT FIRE,

TWO FLOORS BURNT OUT.

time Lecturer on Gynecology under Professor Simpson. In 1878 he came out to the East in charge of a patient, in- ofdentally visiting Shanghai. Here he met Dr. Henderson, who had also been a graduate of Edinburgh, and the latter persuaded him to join him in practice. Dr. Macleod then proceeded Home, re signed his appointment in Edinburgh University, was married, and returned to Shanghai in the year 1877. This part nership was the start of medical firms in Shanghai, and, of course, this parti M" calar firm ultimately became the firm. It was following upon this that the other medical firms came into exist epoe.

ANTISEPTIC SURGERY. While in Edinburgh Dr. Macleod had At 3.20 £.m., on Saturday, a fire broke atudied antiseptic surgery under the The CHAIRMAN:-I now beg to proposa |

out at 5, New Market Street, a house great Lister. When he arrived in the third Resolution:-.-

a-That the said New Sharez be in the which is back-to-back with No. 18, Con-Shanghai the necessary apparatus for the antiseptic method was already here, first instance, in such manner as naught Road West. The building is one but had not been utilised, and to Dr. the Directors shall prescribe for that purpose, offered to shareholders el four storeys and the fire originated Macleod belongs the honour of having in the proportion of one. New Share on the ground floor. With considerable introduced this particular type of sur for every three shares of which on difficulty, the Fire Brigade was able to cry, as he performed the first operation the 28th day of May, 1921, Share- restrict the outbreak to the brat and under that system: The results obtain- holders shall respectively be the registered Holders, and that any ground floors; these were burnt out buted locally were such as to attract a firm have still the records, now some 45 New Shares not accepted by Share the two floors above were practically great deal of attention, and the ""

unharmed. holders within the time limited by the Directors for that purpose be The two floors affected are rented by years old, of the work then done by Dr. disposed of and allotted by the the Yee Charn Export Co., and the Macleod and Dr. Henderson. Dr." Mac Directors in such manner and at ground Boor is used for storing empty lead, thus carly in his earcer in China, such price as in their discretion boxes and paper, and the first floor for and become a pioneer, and in other

respects he was to be equally so they shall think best in the intereste sleeping quarters for coolies. The cause of the Company,

of the fire is believed to be the dropping of a match by me of the coolies who had not the presence of mind to deal with the fire in its early stages when he could probably have extinguished it ensily. There was a very lively ve

Fire" was minutes after the alarm of given and while the inmates of the houses were being got out. No one was

this also was carried.

Sir ELLIS KADOORI Seconded and

3

The CHAIRMAN:-I now beg to propose the fourth Resolution:

4--That the payment of the sum of £10 per share for each of the said New Shares be made as follows,

Tix. 1-

1st- instalment of £38 on the lat.

day of July, 1821.

End. and final instalment of £35 on

the 1st day of October, 1921. Mr. DUNBAR seconded, and the motion was carried i

The CHADEMAN-I now beg to propose the atth Resolution

The damaged is estimated at marly $9,000 and is not covered by insurance

THE

From this time forward Dr. Macleod's career was a great record of success, proof of which is seen in the huge prac tice now carried on by his successors in the firm. In 1884, when he was at Home, he persuaded Dr. Milles to join him, and they worked together until 1899, when, on the departure of Dr. Henderson, Drs. Marshall and Marsh became members of the firm. It then happened that for 10 years all the members of the firm were "M's," and hence the name by which it is still familiarly referred to

CRICKET sons.

Dr. Macleod leaves a family of two and daughters, Mrs. Macleod having predeceased him in 1907. The daughters are Miss Alice Macleod, who is one of Shanghai's leading local musicians, and Miss Annie Macleod, who formerly took a leading part in the productions of the

INTERPORT MATCH. Referring to the first day's play in the holders, holding shares less than or Interport Cricket Match, the W.-C. Daily not a multiple of three a fractionale kuys:-Apart from the good bat-A.D.C. One of his sons is Mr. Ronald certificato in respect of each share

5.-That the 'Directors izsue to Share.

tera in Shanghai, and the other Dr. less than three or in excess of a ling of those who represented Shanghai, Macleod, one of the best known barris- multiple of three and allot one Now a festare of the afternoon's play was the Douglas Macleod, now in the R.A.M.C. Share to every person who shall clena felding of the Hongkong team in The latter came out to join the "M" produce three such Fractional Car- nearly every respect. The Hongkong firm in 1014, but immediately on the out- Llicates on or before the ist, day of team seems to be lacking in bowling break of war he volunteered for the July, 1921, and pay the first instal strength, apart from Captain Havilock front and joined the medical service. ment in respect thereof."

Davies and Mr. E. B. Reid, both of

sent, having resolved to remain in the whom bowled well in the early stages of a is understood to be in India at pre-

game.

Army.

M. F. C. HALL seconded, and the motion was carried.

the

Shanghai Mercury says: The The CHAIRMAN:- now beg to propose Hongkong fielding was very keen indeed, the sixth Resolution:-

several splendid returns and stops in the 6-That after payment of the first field, and this was materially responsible 1.-That the Directors of the HoNazonG Instalment, and pending payment for the slow rate of the Shanghai scoring.

SHANGHAI BANKING CORPORA:, of the remaining instalment, Scrip

A feature commented upon fav AND TION be and they are hereby re- Certificates in such form as the ourably round the ropes was the fine quested and authorised by and on Directors may determine be issued setting of the Hongkong field. There in respect of such Now Shares was only one fielder on the on side, placed behalf of the shareholders of the Company to take the steps neces- "entitling the holders on payment of mid on, but the bowling was so the remaining instalment, and sub-accurate that very few balls were turned sary for the introduction of an Ordinance into the Legislative

ject to such other terms as to round to leg. Council of the Colony of Hongkong approval," date for lodging scrip car-

tificates and otherwise as the Direo and for the enactment of the same by the Governor of Hongkong with tors may prescribe, to be registered as the owners of the shares respec- the advice and consent of the Legisla tive Council thereof to effect the tively represanted by such Srip

Certificates.TAK amendments necessary to the Ordi- pances under which the Company is Mr. H. HANCOCE seconded, and the incorporated and carrying on busi-motion was carried. Dess so as to allow of the capital of the Company being from time to time. increased from 20 millions of dollars the present authorised capi- tal of the Company to 50 millions. of dollars

Mr. R. M. DYER seconded, and the resolution was carried.

The CHAIRMAN:-I now beg to propose the second Resolution:-D VIRAL That the Capital of the Hoxorovo, AND SHANGHAI BANKING CORPORA TION be forthwith increased from $15,000,000 to $20,000,000 by the oreation of 40,000 New Shares of

$125 each to be issued at the price of 270 on the terms after mentioned. Shareholders on the Eastern Begis ters to pay for their allotments at the rate of exchange for the Com pany's demand Bills on London on instalments

the day on which the inte are duo, G The Hon. Mr. HE POLLOCK aid he tad only been asked formally to second, but he would like to say why he thought the shareholders should support

The CHAIRMAN:1 now beg to propose the seventh Revolution:

SHANGHAI CRICKET CLUB MEMORIAL.

were

HONGKONG TRADE. CHAMBER OF COMMERCE REPORT. "The fortnightly price current and market report issued by the Hongkong Chamber of Commerce, states that an regards Cotton Piece Goods and Fancy Cotton: Goods, a considerable business in grey shirtings and moderate sales of white shirtings have been effected during the interval at satisfactory rates. Some transactions in fancies are reported at unremunerative prices as compared with at the replacing values, During the interval for teä

Cotton Yarn. Moderate sales laterport cricket match, at Shanghai on Empire Day, Sir Everard Fraser unveil cffected and values ruled just a shade ed in the Cricket Club pavilion the easier. The state of political uncertainty handsome memorial erected to those mem- that exists between the two Kwang bers of the Club who died on war service provinces is still an obstraction to free 7-That interest at the rate of 6 per the memorial is a handsomely wrought business Quotations are:-No. 108. $135 cent. per annum be allowed out of bronze panel affixed to the wall on the to 8172 No. 128. 8145 to $178. No. 16. the profits of the Company on in flaca Club side of the pavilion. It is 8166 to $210. No. 90s. 190 to $225. stalments paid in advance of the headed,

The Great War, 1814-1015. Arrivals 9,000 bales Sales 4,000 balce Unsold Stock dates when the same become due, Shanghai Cricket Club Boll of Honour, Shipments 4.000 bales. and that registered holders of Scrip and below is the inscription: Victory, 2,000 bales. Bargains 10,000 bales. Certificates for New Shares be Liberty." Around the borders a tablet hoen made otherwise there is practically Woollens-Small sales of Camlets have entitled in respect of such Newpriate scenes and designs and the Bhares to participate in future bears the following names:-S. J. Berry, no change in the market. dividends on an equality with the W. J. C. Budd, J. A. Brand. C. Bussey, old shares, in propertion to the K. G. Barrett, W. J. C. Bolland, steady and values may be quoted as instalments paid up,and from dus Bouch, C. C. Cunningham, W. I Dent, dates for payment of same.

Forben, J. EC Gresson,

E.-J. Hayward, fr. E. J. GEIST seconded, and it was P. Dudley. T. M. K. Fletcher, D. B Herman E. Hope F. S. C Jones. carried.

The CHAIRMANI now beg to propose Loftus E. P. Jones, P. Lambe. W H.

eighth Resolution:

Leysbon W. Lowe, G. B. S. McBain, Flour Market Report-Stock: About That interest at the rate of 8 per K T. J. Parsons, W. E. Reiss, T. C 200,000 sacks Quotations American centum per annum be charged on Hoid, G. P. Risch, F. Richardson, H. Patent $4.75, American Cut-off $3.15, "sach" instalment

not punctually Bymen, E. C. Symons, C. H. L Symons, American Straight $3.15. paid, and be paid with each such B. P. Shaldon and T. C. Vernon, bud instalment.

the

Mr. P. C. POTTS seconded.

The resolution was carried"

The CHAIRMAN:-I now beg to

the resolution. As Mr. Parr had said at the ninth Resolution:

+

Se hai papers announce with regret

Raw Cottons Markos has ruled fairly follows:Indian grades at 8211 to $241 per pical.

market Metals Quiet per picul. Chinese grades at $24 to 933

nebs

with

little

busi-

ORGAN RECITAL

The following is the programme of the the death of Mr. Walter Marginson, a the last annual meeting, the figure of. That all moneys received from pre member of the staff of Mesars Jardine, Organ Recital to be given in St. John's £70 per share offered a kubstantial mlum on the said New Shares be Matheson & Co.'s machinery department, Cathedral this (Monday) evening at bonus, and the addition to the Bank's: added to the Sterling Reserve Fand who passed away at the General Hospital. 9.15 pm. — reserves would considerably increas not Mr. H. BIRKETT Seconded, and the re- only the earning power but the prestige solution was carried.

Rheinberger The cause of death was typhoid fever.1-Introduction and Allegro...Guilmant. Mr. Marginson, who was only 3 years Vision

Mendelssohn.

of age, had been in Shanghai but a few 3-Jerusalem, then that killest months, arriving in September last. He

MREAM. BOWES-SMITH.

of the Bank. Some shareholders might The CHAIRMAN Gentlemen, that con have asked, Why not £50 or £80&shere?cludes the business before the meeting leaves a wife and BOD, now in England,Y Looking through the accounts of the and 1 thank you for your attendance, for whom much sympathy will be felt 4-The Garden of Iram R. S. Stoughton. Bank for some years past, he found According to our Deed of Settlement, Deceased's untimely death is greatly re-fala of the Waters ... Eric Coates. eloquent testimony to the wisdom of the further meeting will not be required to gretted by his colleagues and many --Ye who now Borrowand. Brahma. direction and management of the Bank, confirm the Resolutions we have passed friends, amongst whom he was most

popular. is position had so much increased as a to-day.

sems. AM. BOWES-BMIT

An Irish PhantasyW: Wolstenholme

LANE, CRAWFORD & CO.

have pleasure in announcing that

they are now in a position to

REDUCE

the following lines in their May Price List.

Pineapple Brand Bacom.

May Price List

$1.40 per lb.

Hamis.

Half Hàms.

$1.70

New Price

$1.10 per lb

$1,30

$1.40

American Blanchard Cheese

st:20

Australian Pure Creamery Batter...$1.20 per 1 h. tim $1.00

Kellogg's Toasted Cornflakes

75c. per 12 oz.

10%. per pkt.

Other reductions will follow as soon as circumstances:

warrant it.

LANE,

Established 1850

CRAWFORD'S

Telephone 1741

THE TYPHOON SEASON

IS NOW

Be forewarned-

APPROACHING

by having one. of, the latest

improved BAROGRAPHS

and be forearmed.

LANE, CRAWFORD & CO.

NEW

(INDIA

HONGKONG.

RECORDS

A2798!

BLUES

FIRST ROSE OF SUMMER

A2797

SOMEBODY'S HEART

·A2840

A2841

I WANT A DADDY

YOUR ONCE-IN-A-WHILE

(BURMESE BELLES

RAINBOW OF MY DREAMS

ANDERSON'S

(THE RECORD SHOP)

Powell

TELEPHONE 8148.

[B

BATHING SEASON.

WE ARE NOW SHOWING A LARGE ASSORTMENT OF

GENTLEMEN'S

KNITTED BATHING COSTUMES

IN THE LATEST COLOURINGS BLUE, BROWN & GREEN HEATHER

ALSO PLAIN NAVY

PRICES

$4.00 $12.50

TO

HIGH-CLASS

GENTLEMEN'S OUTFITTERS.