1922-05-24 — Page 2

THORNYCROFT

JOHN L THORNTUROFT 4 00, LIMITED,

Bhirawilders 'and ExotnaæERS,

LONDON, SOFTAAMpion and BakingSTOKA

Shanghai Office:

10," Kinkiang

Road.

THE HONGKONG DAILY PRESS, WEDNESDAY, MAY 2418, 1923.

15 B.H.P. 30 B.H.P. 50) 3.H.P. Engines

in Stock

For quotation apply--

Wear Palm Beach Suits.

The genuine Palm Beach cloth bas washing qualities never before equall- ed. No dyes are used in the natural Palm Beach shade, which is the most popular in the Palm Beach range of patterns

can feel

perfect security in washing your suit as often as you please.

We have in stock all sizes in the Natural, Grey Fawn, and Brown shindes.

CALL AND INSPECT THEM AT

MACKINTOSH

& CO., LTD.,

Men's Wear Specialists.

Alexandra Bulding, Des Your Road.

SHANGHAI UFFIOR

W.S. BAILEY & CO, LTD.,

ENGINEERS AND SHIPBUILDERS, KOWLOON.

Tug-boats, Barges. Fast Launches, River: Steamers,

and Motor-vessals.

Constructional Work and Repairs of All kinds.

ม

Cables: SEY BOURNE,

Telephs:

Works (day) Manager (night) Secretary

K.21. ...E,633, ..K.369.

Harbour Engineers...K.604, K.622

SUMMER PYJAMAS

AT

WHITEAWAY'S

THE RIGHT GOODS & THE RIGHT PRICES.

Plain White Cotton Pyjamas

with Short Sleeves and, Knickers. Ideal for sum- mer use.

$5.95 to $6.50

Plain Cream Cotton Taffeta Pyjamas with colored Col lars and Cuffs. Silk Braided Fronts.

$7.95 to $8.95

Mercerized Cotton Pyjamas in Colored Stripes Soft and Cool. Good Wearing. All Sizes:

: $9.50 to $11.50

COMPANY MEETINGS.

INDO-CHINA STEAM, NAVIGATION CO., LTD.

DOLEFUL YEAR: DEPRESSION,

COMPETITION, STRIKES,

PROSPECTS FOR THE YEAR.

PREPAID

WANTED

ADVERTISEMENTS

Letters are Iring at this Offre Enr Bar A, L, JWB, WX, QW, RF, RG,

RB. RL, RX, BW, RU, WANTED TO PURCHASE Hotel r Genuine Concern showing Good Prodts, strictly."

Boarding House, Good Price paid for Confidential. Apply Box 8.B., c/o Daily Pras Office.

THE SHIPPING PROGRAMME. ** Turning to the Company's building pre- With regard to the prospects for this gramme, our new Calcutta steamers, Kui- | year there is very little I can tell you;} Stag and Haag, 7.800 ens and 5,700 at the present time there are indications tons deadweight, respectively. (already of revival, but the reasons for waaj of referred to), took up their running on confidence amongst native shippers, pre- the Calcutta line this month. The latter valent last year, still exist. It is also The forty first ordinary general mest steamer was purchased, when partially hardly arcessary for me to remind you ing of shareholders of the Indo-China bit, from the North of Ireland Shig that during the first few months of this Steam Navigation Co., Ltd., was held at building Company; she was finished to year our organisation in the South was Messrs. Jardine. Matheson & Co.'s Board approximately the same specification as a standstill owing to the Chinese room, yesterday, at noon.

Mr. D. G. Mhe Kisang, and ber very mode cate purJanuary 13th till March 9th. There is Berging with almost exclusive ate of

Seamen's Strike, which · laster!' from Bernard (Chairman) presided, and there chase price. allows of a

TO LET-One or Two Large Furnished satisfactory possibility of readjustments of tariffs on wereialso prosent: the Hon. Sir Paul Chater, Sir Robert Ho Tung. the Hon, average value per ton, for our two latest some of our lines, now operating as con- Dining room, Pano. Telephone. Hongkong. additions to the. Caleutta line. The two petitive rates; and if this is effected, a sub-M level. Apply Box 8.2, c/o Daily Press

Office.

THANKS TO THE STAFF,

The Road, three reems, spare room, NO LET-Nicely Furnished Flat in Co la conclusion, it desirable to record bath room. Vacant Jane lat. Apply Box SD.. our appreciation of the good work perde. Daily Press Office. formed by the Company's 'floating staff 43 impingea în shore appointments dur OR SALE-Dodge Automobile, 1921

H

model in excellent condition, fire seater, Particular meation Lower Yangtse stonering the past year, new

must be made of the valuable services 4cyclinders Can be seen any time between 10 Kungus, left for Shanghai to take up her rendered by our employes during the 'clock and four at East Point Garage. Ex- River employment last February and has strike. Their co-operation and willing parienced chauffeur could remain with car proved a credit to her builders, the Hong-sistance in meeting the many and ever-rice 32,000, reason for selling, owner leaving

confronting

Cbinay. Apply Box S.E., e/o Devily Press enabled arrangements to be made which greatly helped to minimise the serious Anneal loss occasioned by the fort Fy English Bank notes at Arsenal

Mr. A. D. Lang. and Mr. H, P. White (Directors); Mr. W. E. L. Shenton (Soli tor); the Hon. Mr. A. R. Lawr, Messrs R.Sutherland, E. F. Aucolt. E. Abraham, H. Birkett. B. C. Hornell, G. M. Shaw. P. Tol, . C. Boyd, N. L. H. Railton. Ho Fook. He Kwong, Ho Ki; Lo. Man Hin Ho Shai Kit, Lo Cheung Shiu and Ho Leung (shareholders),

Mr. R. SUTHERLAND read the notice con- voning the merving.

.

Coasters bifilt at home, viz., the Priming and Tingenig, have recently arrived and have been found in vergeway suitable for the service for which they were designed.

Our

stantial merenso of "warnings should re- | mute,

E

changing difficulties

in

kong and Whompon, Dock Company. I may say she represents the last word utility and comfort on the Yangtste..

THE VANUTÝZE FLEET.

THE CHAIRMAN'S SPEECH,

The CHAIRMAN Kaith:-Cintlemen,-From the counts it wit be sein that whilst We still have under construction firstly. the actual funning of the left has shown the Fabre," the Ighing Chungking swamer anfavourable results, We are enabled, referred to at our fast annual meeting thanks to "our" conservative policy during This vessel was built by Messrs. Yarrow recent years, to make a satisfactory re& Company, at home, and brought out in turn to shareholders."

sections by the new Coaster Fuusaay. At When I had the pleasure of addressing present the Fure is ising assembled at you. last June: the prospects for the year Shanghai and should be ready, very now ander review were commented upon. I shortly, to take her place on the Chung-

In some quarters, the views the express king run Secondly, the Playwo, ed might have been thought to be unneces- specially designed cargo carrier, has been' jsarily gloolay, but experience"bas proved contracted for with the New Engineering that the year 1921 will long be remember & Shipbuilding Works, Ltd., at Shang- cal as me of unprecedented" world-wide hai, and will shortly be available for ser. shipping depression. The generat condi. vice on the lower and/or midille Yangtsz, tions of shipping trade in the Far East where the continual expansion of trade is did not reach the low ebb in evidence in engaging our earnest attention. The home waters; and, owing to the fact that peculiarities of the Yangtare river with a portion of our currying trade is of what ita, widely changing conditions during

KYFELTY UPUN TRADE OF TUK SITUATION

IN CHINA.

nata bild-up.

THE RESOLUTION.

the u,Office.

The Report and Statement of Accounts, now in your hands, explain our recoin- mendations with regard to transfers in accounts, and dividend proposed in I, there respect of last year's working. jury propose the following resolution:

That the Report and Statement of Accounts, as presented be adopted and that 19,000 be transferred from Equalization of Dividend Account a Revenue Account: that payment of a dividend of the.

ay the Preferred Ordinary shares and £1 109. on the Deferred Ordinary shares be minde, and that the sum £3,03 58. be enrried forward to next year. The dividend on shares on the Hongkong register to be paid the rate of exchange, 28. 61d. Mr. H. BRAFT seconded the resalu- tion which was carried ananimacaly. TRANSACTION OF OTHER BUSINESS,

election of the Hon. Mr. A. O, Lang

Mr. Lo Chusu Sart proposed the ro

a director of the Company.

**

FOUND-A brown leather Wallet contain-

Street Fier on the 30th April last Any claim shonld be made to the Deputy Superinten dent of Police at Poles Headquarters.

OSTA Lucy's Gold Wrist Watch, pra- hably between the Central dice Station and the Public Wharf Timeratqui on Saturday, 30th May. The tinder will be rewarded on application to P. P. J. Wobranuse, Esq., UIE, Police Headquarters.

TO LET-OFFICES, top Hour, Frizer's-

Buildings-Apply HARRT WICKING & Co.

TO

LET-at Magazine Gap THE PEAK, immediate occupation, FULLY FUR... NISEED Six Roomed BUNGALOW with

On blotor arge Gardens, Tennis Court, etc. Road. Apply to Messrs. ERADLEY & Co., Ltd.

10 LET-ne new big OFFICE ROOM

Tin the Hongkong & Shanghai Easking

Corporation now premises. Apply SANG LEE c/o Compradore Department, Hongkong"

Shanghai Bank

TO LET.

Mr. B. H. C House seconded and this was agreed to.

Mr. Ho Fouk proposed. and Air. P. From 1st July, 1942 or Earlier if lequired. Tun serouded, that the Hon. Mr. A. K. Lowe and Mr. E A. M. Williams he reUITE of 5 OFFICES, and FLOOR of

S lected antitors at a remuneration of 16, 16, 17, 18 & 19 Connaught Road. Central, Verandahs to each room FACING $3,000.

This was approved and the proceedings HARBOUR, LIFT from the Ground Flost. Apply Box 750 c/o Dail Press Office. [730

FOR SALE.

terminated.

STAR FERRY COMPANY. LTD.

The twenty-fourth annual meeting of

AND Font as Swatow with modera: 2 approximately 7,000 square feet on storied brick and concrete building aitable for odice and godown Further details apply

485]

W. MCMPHREYS & Co

"FOR SALE

APSOLUTELY NEW

| may be called a domestic nature and oplysunimer and winter seasons, when extreme indirectly affected by oupside influences ranges in depth of navigable water, are we are able to present, a balance sheet experienced, call for the atmost care and which, taking everything into considera forethought in the design of vessels to be tion. I hope may be regarded as satis employed! In order to cope with the factory,

creasing volume of cargo available in the middle Yangtsze districts during the low water season, tugs and lighters have had From time to time, during, recent years, to be acquired to aust as feeders to our revenue has been seriously, impaired steamers of the main lines and it is possi by the effects of hostilities connected with be a further expansion of this means of the unfortunate complex conditions of transport may soon becouie necessary. this Company was held yesterday morn

at Messrs. Jardine, latheson & Co.'s Chinese politic During the last half of REPLACEMENT OF LOSSES: NOT EXTENSION

Board room. Mr. B. (. M. Benard 1021 the state of affairs existing on the

From the foregoing is must not be (Chairman), preidel and there were also Yangtze between Hankow and Ichang thought that the Courpany is engaged in present: the Hon. Sir C.

P. Chater and was almost incomprehensible, inasmuch as

the Hau. Mr. AO. Lang (Directors); Mr. an extensive building programme. The H. Crapnell (acting secretary) and steamers under all flags were, for a cer- [tain" period, -frequently fired upon by

seagoing tonnage referred to represents, esers. M. S. Northcote, J. Hooper. Ho The CHAIRMAN Baid: Gentlemen,-In- Chinese troops on both sides of the river in a large measure, displacement of losses Leung and R. Dastur (shareholders).

recent years; the creased passenger trate has resulted in As can well be imagined, transport under and sales during

995 vessels in stan being 8.5. Atsany, an increase of $20,630.28 in the nett earn such disturbing conditions was almost

ings of the Ferries, and think

you will impossible, and a considerable period torpedord in the Mediterranean; s. agree that this is very satisfactory. elapsed before business resumed a normal song, foundered on the way home of the Ice House Street Pier and the boats the request of the auditor, depreciation stale. Unfortunately, this long spell of with, food stuffs; s.a. Pauming, a toth has been written off through proft and - Hainan "; as Saising and loss account, instead of being dealt with inactivity seriously affected our earnings; les off not only of the Middle Yangtze but also 9.3. Janny sold. We have still" before at the annual meeting, as has been the

practice hitherto. us the necessity of replacing, with modern carriers, song of the older steamers of the feet now running in regular services, while arrangements have been inade to re- builte on improved lines several coasters, the halls and general condition of which well justify the outlay."

on the Lower river and Coast lines, which

suffered by reduced shipments of through Cargo You will realise that so long as the present chaotic state of affairs exists in China, the business of the Company, so far as the China carrying trade is con- cerned, is bound to be' 'affected by the general feeling of insegurity and uncer- tainty. It is worthy of note, however, that the long suffering native shippers, notwithstanding the disabilities they have had angi still have to contend with, show a noteworthy spirit of enterprise during troublesome times, and it is to be hoped that they may soon enjoy an undisturbed period of commercial activity, to the benefit of both their own and foreign

interests..

COMPETITION ON THE CALCUTTA LINE

Se

Ja

THE ACCOUNTS.

;

At

An application from the crows for an increase in wages was received at the end of February, and an increase was granted its from ise of that month, and I am glad to say the men stood loyally by the Com pany during the general strike. I regret, however they went on strike in conjunc tion with the Launchmen on the 15th inst.

an improvised service

has been Sitting with the kind amistance of Turning to the report and statement of Naval ratings. I trust users of the Ferry who have suffered inconvenience through necounts, you will observe that owing to steamers dequired, the value of the feet the irregularity of the service will realise has increased by £1,101,220 2. 4d. There that everything possible is being done to have been a few more payments th 199rganize a regular service.

The balance at credit of profit and loss o necorat of new tonnage, which will

account to be dealt with at this meeting appear in the accounts for that year. Investments, have been shown at the dividend of $2 per share and a bonus of is $154,819.41. It is proposed to pay a market rute on December 31st last. The

$1 per share, and to carry forward the decrease in the amount standing at the balance, viz., 434,619.43 credit of the Investment Account is das.

I beg to propose that the report and to the realization of certain securities to accounts as presented be adopted and meb payments A account of new pasard, including the payment of a divi steamers which have been built or aequirilend of $2 per share and a bonus of 31 The per share, and that the sum of 834,019.41 Severe competition was still in evidence ed during the year ander review.

remarks, apply to the Deposit be carried forward to a new account! on the Calcutta luto and the Shanghai Account.

Mr. M. S. NORTHCOTE seconded and this Cauton line, ah this was greatly rer Turning to the liability side of the was carried unanimously

balance sheet, you will notice that ponsible for poor returns. Our congee pecial repairs and renewals account has Lotion of

The re-election of the Hon, Mr. A. O. a director WAS agreed to, on the tion with regular supporters was well been reduced by 218,606 138. Ad. which motion of Mr. Ho LEUNG, seconded by maintained and you will, I trust agres is due to extraordinary expenditure over M. S. NORTHCOTE, seconded by Mr. J. Mr. B. DASTUR and, on the motion of Mr. that we have followed the correct policy and above the ordinary running repair HOOPER, Mr. C. Bernard Brown was re- in placing our old and regular clients of the fleet. Exchange fuctuation reserve elected auditor at a remuneration of $200 on the same favourable basis as new dollar nagets and liabilities having been per annum.

account has been depleted owing to the comers in the trade who may endeavour taken into account at a rate 2. 7d. as to take advantage of the unnecessarily against as. lid. These were the rates of low rates offered by subsidised lines of exchange on the 31st December in 1921 pther nationality. The continued unrest

and 1920 respectively in India, and commercial depression in

Floating staff pension fund bas been The eye has certain tiny muscled the Straite and Japan are well known to slightly increased by the amount of lá- When objects we look at do not come you; this is naturally reflected in our

terest added during 1921, Iss the amount income from the ports affected. We have paid for pensions. A scheme is still under apte a sharp focus in the eye, these now be advantage of two large and consideration to place this fund on muscles exert themselves unduly and economical carriers, in the Kuldng and satisfactory and permanent basis. Build enable us to see clearly in spite of the Hosong, which are specially adapted for ing reserve fund has been used to write Eastern trades and should prove valuable down the cost of the new steathers, this defect. These muscles tire and relax acquisitions to the Company...

bringing them more into line with market using the objects looked at to become prices Dow ruling. The underwriting blurred and indistinot. Upon closing the account you will note is increased by $17,783 de ld, due to premium on fert eyes for a few seconds the muscles be being credited, while, fortunately, the coine more or less rested, and objects, expenses of accidents falling to this are clear again for brief period. account have been below the average Properly Bittod

tod glasses correct ore strain, Contingency account has been' rodaged

THE DECENT LABOUR TROUBLE

burden borne

#

WHAT IS EYESTRAIN?

(1) Two-80 BHP." Single Cylinder Bolinder

Oil Engines Revs.

per walnute. (1) Two 50 BHP. two cylinder Bolinder Oil Evgines direct con hected to 25 KW, 115 Volt direct cartent (compound wound) dynamos complete with back of board held rheostat for each machine. (3) Two oil fuel tanks capacity of each 20

Apply to Bolinders,

940]

tona.

C/o Daily Prias Office

BON TON, LIMITED (IS LIQUIDATION). CHEAF SALE.

YOMMENCING from WEDNESDAY, the after, all PIECE GOODS, MILLINERY, LINGERIE, &c. dc. contained in the premises of the above firm, 37, Queen's Road Central, Hongkong, will be roll subject to a cash dis- count of 25 per cent, to clear.

A. R. LOWE,

Special Manager, Hongkong, 2nd May, 1999. [1047

FARM NEWS

DAIRY

ti

FISH

Direct from the Scottish Fisheries FILLETS, HADDOCES, KIPPENS, ?

BUTTER

... Different-grades to unit different,tastea.

#DAY" BUTTER

DAIRIMAND" "SHAMEDCK"

THE DAIRY FARM, ICF £.COLD STORAGE CO, LTD.

"A. G. DA ROCHA

AUCTIONEER," SURVEYOR AND GENERAL BROKER

No. 1A, D'Aguilar Street, Telephoze No. 2933 WEEKLY AUCTIONS, TUESDAYS-

MISCELLANEOES' GOODS

THURSDAYS:-

VALUABLE

It was at one time hoped that, as soon the war was over, our running expenses and overhead charger would be materially reduced. I regret to any, bowever, that New Shirts and Soft Collars, this has not been the case. We find this

by the Company connection has been very little, if at all, by £10,915, being anotht paid on whether caused by astigmatism or age, lightened, although there has been a sub account of Corporations Profits Tax An The Hongkong Optical Co., successory to [stantia] saving in the price of bunker coul. Investment Fluctuation Account his Clark & Co., Manufacturing and Refract Recent Chinese labour troubles entailing been opened and to this has been credited

substantial increase in wages have also the increase in value of investments Opticians, 53, Queen's Road, Central,ATURDAYS resulted in placing an additional and which were still held at the end of the have the equipment to fit you glasso unexpected tax upon the Company..

properly-ADVE

CALL AND INSPECT,

WHITEAWAY, LAIDLAW & CO., LTD., HONCKONC

year.

HOUSEHOLD FURNITURE

BLUELLEN

"BOUSEHOLD FÜRNATUBE