1924-05-24 — Page 4

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COMPANY MEETINGS. THE CANTON INSURANCE OFFICE,

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BAD TRADE, LOW RATES AND EVER

INCREASING COMPETITION."

“SATISFACTORY."""ACCOUNT" "NEYER, THELESS,

SATURDAY, MAY 24TH, 1024

Mr. Ho Fook seconded the adoption of the report and accounts and the motion was carried unanimously.

On the motion of the Hon. Mr. Crow Sir Ki, seconded by Mr. Lo CHRYSO

TO-DAY'S RACES.

SOME LIKELY WINNERS

INTIMATIONS

There will be more than the usual BOWERN & C SEIL the Consulting Committee was element of doubt itbout this after- elected as follows:-Tho Chairman of]

No 8. Mesen ROAD, SHANGHAL

Member, British Chamber of Commerce Shanghai) Mr. W. W. BOWEEN, Fellow of animeertainty the Lustitute of Charters Shipbrokers, Incor

porstel by Royal Charter, London,

Messrs. Jardine, Matheson Co., Ltd., noon's third extra race meeting. As in Hongkong, the Hon Sir Paul Chator, the time of writing there exists in C.M.G., Mr. A. H Compton, Mr. 4. S the minds of

many Gubbas, Sir Robert Ho Tung. Mr. T. E Pearce, and Mr. HP White,

Messrs. H. Perry Smith and the Hon, or the Canton Insurance Office. Ltd., Love nere re-elected auditors

The forty-third annual general meeting

as to whether or not the races will be held, but we were informed yesterday at noon that providing a more rain fell

STEAMSHIP AGENTS AND SHIPBROKERS For the Ruchase Salo and Charter of Yesnele sador Old, with delivery China at Very Love

Salvage OPERATORS,

was held at the offices at the Company for the ensuing year at a remuneration the ponies will be able to ga over the of any Tonnage, Passenger anilor Cargo, New Messrs. Jardine, Matheson & Co. Ltd of 9:30 each, on the motion of Mr. LS. yesterday, Mr. B. D. F. Brith pre

ted and there were al present: MrGREESHILL," recorded by Mr. D. V. track; but should there be further heavy Prices MAXINE SUAVETONG

T. E Pearce, Mr. H. P. White and Mr.

Gubbay (Consulting-Committee), Mr. FC Hall (Secretary), and the following shareholders: The Hon. Mr. Chow Sin Ki, Messrs. G. H. Piercy, S. Greenhill Ho Loung. Ho Fook, J. M Alves, Felix Ellis, D. V. Steavenson, E E Ellis, Lo Cheung Shiu, Lo Mau Hin. Chin Sia Nam, A. H. M. pa Silva Lo Cheung Ip, J. F. Aright, and W.. L. Lensk.

STEVENSON.

This was all the business before" the meeting, the Chairman announcing in conclusion that dividend warrants, were rady and could be had on application.

WILLIAM" POWELL LTD. INCREASE OF BUSINESS REPORTED,

The.

rain overnight nud this berning the stewards, any deckle to cancel or post- pone the meeting.

AUCTIONERS, COAL MERCHANTS, Eusicut BaûKERS, METAL MERCHANTS, Machinery For Eale, New and Old in Firak

Condition. EXTORTERS AND Expoursis, SHERE-BROKYA

(Members, Shanghai Share Brokers' „Associa- tion).

SOLE AGENTS FOR CHINA →→→ GREEN'S PATENT ANCHORS. SAMBEL WARREX & Co. LTD. (Sheffield), High-Class Steel Manufactures: (Tank Brand)...

**Catalogties and Price-Lists on application.

(Euquires Welcomed.).

CABLE ADDRESS: BOWERN, SHANGHAT

Copes: Bentley Scott's, B.C.

5th Edition and Improved.

The rain of the past few days has inter-Class fered seriously with the training of the ponies and again there is an element of dought as to what ponies are fit for turn- ing out in the seven events down for devision, Since Wednesday little or no twenty-third ordinary general track training has been accomplished anul The CHAIRMAN said:Gentlemen. The meeting of Messrs. William Powell, Ltd,it is only on Tuesday's and Wednesday's report, and accounts haring now been in was held at noon yesterday in the Hong times that we can judge of what the your hands for one days, I suppose, with kang Hotel, Mr. F. M. Crawford, pre-ponies are capable of doing.

On Tuesday Benz did the nie inf with your permission, to follow the usual siding. There were also present: Mr. custom of taking them as rend. The ac FM Mannk (Director), Messrs W. A. min. tonees., finishing the last quar- The best mile on count for the year 1992, which we now Eustace and H. O. Holt (Managing ter in -SueCS. present to you, has proved quite a safis Directors), and the following share Wednesday was done hy Martell in factory one and this in spite of the con, holders: Alessrs. S. J. Jordian. E. J.mins, 11.5aces, skin dki a very fait first tinuance of bad trade, low rates, and Ainslie, G. W. Avenall, and H. Overy. quarter in 31,3-5sees., but his last quarter ever increasing competition. Again, how The CHAIRMAN said:-Gentlemen,--The was not convincing, 34. Rothesay did the ever, this year we show a very cousider, report and accounts having been in your strongest finish of the week's gallops in able decrease in premium income, that hands for the prescribed period I will, 319-3 over mile, which he covered Koh-I-Noor is an for the year now under review being with your permission, adopt the usual in min. 47.2-5sces, $1,303,424.81 as compared with 4,031.813.08 procedure and take them as read. unknown quantity so far as the local turf C. E. WARREN CO., LTD. for the year 1921 This continued falling The profit for the year ending 20th is concerned, but he has shapeil well in off in income is a disturbing factor. and February, 1924, including the amount of training and he should render a fairly one that is exercising the minds of yours,ss.09 brought forward from last year, good count of himself at this meeting. General Agents and Consulting Con amunt to $18, and this your dires. For the first race H.E the Governor's OFFICES 98A, Wanchai Road; mittee. It is a comparatively simple tors have allocated as follows:-To pay nohy. Gaudic, is looked upon as a likely matter to obtain business but where and a dividend of $2 per share on 21,000 winner.

For the Colonial Stakes it-is stated that ow the acquire business of a remunerative shares fully paid up $42,000 to place to nature is an entirely different proposi equalization of dividend account $5,000: Golden Jubilee is very fit aut, with Mr. T No. 267, tion. We are not alone in this respect to write off Extures and fittings $1,605.30;.Zellensky up he is likely to be a favourite. as the reports of practically all Marue to pay a bonus to staff of 10 per cent Musketeer, if he turns out for this event, Insurance Companies show that their in-absorbing 37,281: to carry forward to comes are now back to a pre-war level, credit of next account 6,406.09; which if not rather worse.

your directors hope will meet with your

In this connection, it may not be cut

of place for me to quote to you an ex-

the

approval.

During the year under review your

will probably have a change of rider in the person of Mr Harriman. The pony

should get a place with either Cotton grass or What to Do third.

For the third event (Commonwealth tract from an able article on the matter directors were fortunate in being able to Handicap A Class) over six furlongs of marine rates that, recently appeared acquire, the site and building which we Mr. A. G. Stephen's Benz should have in one of our leading shipping journals: now occupy, at what they considered a good chance to win with Full House

With regard to important reasonable figure, thus, assuring us a secol and Koh-I-Noor third. question of premium"it may be said permanent home which, you will all The Aggregate Stakes will be interest- that, broadly speaking, the conditions agree, is a very desirable asset, expe. ing. Rotheany, with a win to his credit, which prevailed in 1921 and 19 con- cially to a retail firm such as ours. Turn is running top weight 156 lbs and his zinaed during the whole of the pasting to the accounts, you will see that chances of a win are counted in favour of Hartfiell, running at enteh weight, year and rates, whenever altered, against this asset there stands at mort

140 lbs, which in seven lbs. lighter on have without exception tended down-gage 35c8,000. This mortgage, however, wards, and at the moment of writing has now been very considerably reduced the weight for inches scale than Rothe have attained a figure below which a by the new issue of capital, which was say. Fernienf should he carefully watch! product underwriter will abstain from authorised by your directors, and made ed with his four lbs. allowance, and on the andden course Spotted Sand starting venturing I, in the near future, on 1st March, 1924. losses and casualties occur with the

The stocks of the Company are held five lbs, lighter than top weight, should same frequency (in proportion to the absolutely clean and have, in every case make a bid for first place. bulk at risk) as they did in the years where necessary, been reduced to replace immediatly preceding the war, under-inent cost. writers will, I fear, discover that they The substantial increase in cash sales

I have been providing insurance Con-shown in our men's out £tting depart siderably below cost price."

ment. has proved the wisdom of the re Although there is no cause for pessim-moval to our present prominent sitan farn.. I think you will appreciate from tion next to the main entrance of the what I have just said that we have our Hongkong Hotel. The rearrangement treables and difficulties like everyone of the various departments in our main building has been very favourably com mented upon, and we feel sure customers will appreciate the better service we cau now offer them. By maintaining our present policy of giving the utmost value in all departments, we look forward to a steady increase in business, which we trust will enable us to maintain the very satisfactory dividend which we have paid for years past."

cl- in these fean times.

Although the accounts show decreases is premium income and interest for the year 1929 of $730,491.27 and $22.512.28 respectively, it will be seen that the rosult after 24 months' working is some $15 ron hetter than that, for the sent 101, the reason for this being the much improved loss ratio of 54.00 per cent .compared with 63.51 per cent.

The Selling Plate will be. anybody's race . Dr. Kew's seiccted will be a likely winner.

پایی

With Darian lame and scratched, the chances of King Alfred winning the sixth event (Empire Handicap "B" Class) are increased. He will certainly have an advantage over Gaudie, especially if the atter wins the first race of the afterno.. The seventh race should be an "easy victory for Mr. Stephen's Kupi carrying a penalty of only four lhe as against Spotted Sand's penalty of six lhs. Rothe- say is penalised two lbs., while Grey Dragon and Fern Leaf carry their weight for inches.

Tips for the various events: 1st Race (Commonwealth Handicap

Class)

1. Gaudie 9, Langsat

Before concluding, I desire to thank the managing directors and staff for their services during the past year, us it is

King Alfred. argely due to their efforts that the end Rave (Colonial Stakes): results before you have been obtained, and I am confident that the bonus we propose to grant to the staff will meet and Race (Commonwealth Handicap." A".

Cottongrass or What to do. with your approval.

1. Golden Jubilee. 2. Musketeer.

Working account for the year 1971, after 12 months working also shows a fall in premium income of approximately 450.000 and this balance of $2.150,923.63 Learted forward is consequently less by 21.451.78 than that for the year 1922 at the same period. This account has set far to go, but we see no present reason to fear that the ultimate result I now beg formally to propose that will be otherwise than well up to the the report and accounts as presentëd standard of its predecessors. Our assets, (including the apportionment recom. as expressed in sterling, stand at amended by the directors) be adopted, and higher figure by £8.000 than a year ago I shall be obliged if some shareholder 4th Race (Aggregate Stakes): and, expressed in local currency, they will kindly second this proposal where shot an increase of over 55,000. The apon questions as to the report and ac- 5th Race (Selling Plate): satisfactory, state of the various reserves

at December 31st, 1022, has been more than maintained.

The surplus to be dealt with ** $1,008,219.43 out of which has been paid an isterim dividend of 18 per share We dow recommend the payment of a

Anal dividend of $22, the addition of £25,000, to. Sterling Reserve Fund, of $250,000 to -Reinsurance Fund and the carrying of the balance of $503,072,81 to Underwriting Suspense Account to close the year 1999 The balance of $2,190,923.02 at credit of 13 account allows of the ayment of the usual interit dividend of 318 for that year."

counts may in raised.

Mr. JORDAN seconded, and the was unanimously approved,

motipa

Mr. R. L. Bridger, the retiring direc

7, Benz

2. Full House. 3. Koh-I-Noor

1, Rothesay or Hartfield. 2, Spotted Sand.

1, Dr. Kew's selected.

2, Pet Mouse.

3, Bluebottle.

1, King Alfred.

2, Langsat.

3, Golden Jubilee.

tory was re-elected, on the proposition 6th Race (Empire Handicap "B" Class). of Mr. AINSLIE, seconded by Sir. Overy. Messrs. Percy Smith, Seth and Flem- ing, were re-elected auditors at are 7th muneration of £600, on the proposal of Mr. JORDAIN, seconded by Mr. AVENALL, The CHAIRMAN, announced that dividend warrant were ready.

CINEMA NOTES.

THE CORONET.

During the past year losses have been below, the normal and there have been none of outstanding maguitude. This Kindred', of the Dust," showing (at does not, of course, include the earth the Coronet for the last time to-night, quake in Japan of Inst. September or the bas deserved all the uice things snid typhoon of exceptional violence which about it during its short run here. In visited Hongkong on the 18th August, and around a gigantic lumber-mill, the Although seven fuonths have elapsed scenes are etarted with a touch of realism since the first the first disaster occurred, that goes straight to the heart of all the sum of loss yet far from complete Adapted from, a well-known magazina awing to enormous task of ascertaining story, the producers have exploited all the relative liability attaching to fire and the avenues, of the cineina and thereby marine insurance. In these two enta unfolded a stor which though often mities, our losses, though naturally con- dent, with, is all the more charming be siderable, were no more than we might cause of empathetic treatment. reasonably expect and much less than

"QUEEN'S THEATRE we at Brat anticipated.

I do not think there is anything fur- Some people have expressed a mild ther that calls for special reference, bat dislike 10 pictures of America's wild

Race (Empire Handicap

1. Kupi.

2, Spotted Sand.

3, Magnificent Dablin.

(Class) :

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Hungry-Yet Afraid

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Such is the plight of thousands. They real mealtimes, for they know that puffer- ing will folkw; they know that, sliet an they will, digestive disorder is remorseless, and it has them in its grip. The pity of it is that och suffering is quite unnecekamer

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BURMESE WORKING SHIPS." Rangoon paper of May 9th, report that the shipping coolies employed by steve- dores of Rangoon in connection with the loading and unloading of steamers in the Port of Ilangoon, who went on strike on May Gth were still out and were thea likely to remain so. Finding that their detuanda for no immediate increase of pay had not been met, the striking coplies started to force the monthly-paid men to down tools and join themp. This action led to violence, and the police, HONGKONG CIGAR STORE LTU called to the scene to restore order, were met with showers of stones and other missiles. Fortunately, no casualties are reported and eventually the strikers were

I shall be pleased to answer, to the West. This, however, should be no 'rea best of my ability, any questions arising sou for staying away from the screening disperaed. The next day the coolies turp

out of the accounty which shareholders of The Virginians, which is running ed their attention to the hand-cart men HOP SING & CO., may wish to put, after the accounts them at the Queen's Thestre till Monday, hut for the most part the latter refused selves have been duly seconded

Rolling pastures served only as the back to join in the strike

I now propose the following resolu-ground, with the most appealing traits As far as the B.I. Company were con Lion -

emphasised by expert photography socerned the khalassis and crew, aided by That the report and accounts; as that nue will make a silent wish to see the firemen and boats crews, were work- presented, including the payment of a the place in person. If the term could ing tooth and nail in order to get the final dividend in respect of the year by used, the gentleman cowpuncher, give, vessels way. Probably for the first time #1022 of 822 per share, and an interim a portrayal which is caturul, and at the in the history of Rangoon, Burmans were dividend in respect of the year 1923 ame time, endower) with refinement. utilised to break the shipping strike and of $18 per share the addition of With Florence Vidar in the part of the the innovation was said to be working $25,000 to Sterling Reserve Fund, of schoolmistress heroine, it is sufficient to well, a strong force of police readering 20.000 to Reinsurance Fund Andy, that the romantic sounes equal those them immune from molestations be $50.072.81 to Underwriting Suspense of fint have been claimed to he the Later news, by cable, has stated that

the strike has ended. Account be adopted and passed." zeroon's greatest, epics.

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