1925-04-29 — Page 4

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106, Fascinach 31, London, BCI

WEDNESDAY, APRIL 24TH, 1925

look at

MERCANTILE BANK. which we consider ample in view parti cularly of the increase in the value of our On the whole the INCREASED BUSINESS IN 1924.

property generally. figures in the balance-sheet show very The thirty-second annual general meet little change from the previous year, and ing of the Mercantile Bank of India, Ltd., from whatever point of view you

the figures I am sure you will agree we was held on March 31st at Winchester are in a strong position and ready to do House, Old Broad-street, EC. Mr. J. Mour share in financing any increase in trade with the East that may and I hope Ryrie presided. The thief manager, Mwill take place as the result of more small re- J."Stewart, read the notice couvening the settled conditions There is meeting and the auditors' certificateduction in one current accounts and fixed Mr. Ryrie said: Ladies and gentlemen, deposits, but with more activity in trade us you know, I am sure you will all be very disap- this is not surprising, and, pointed again not to see Sir Robert Hack we continue to convert pur rupee assets in my place today, and regret that his and liabilities at 1 4d. In reference to absence is still due to ill-health, whilst the item Loans Payable £550,000, as this was of a temporary nature and profitable I am also sure you will join me in wish.

we preferred to allow it to run off in the ing him a speedy recovery. Then, I am sorry to say that, whilst he did recover ordinary course rather than sell securities sufficiently to attend our board meetings for the purpose of eliminating it. The more or less regalarly last year, and increase in our acceptances on account indeed until quite recently, another attack of customers is satisfactory, but we would of influenza, from which he has not yet like to see a further increase in these recovered made him determine it was in figures. The item Cash and Bellion is in the interests of the Hank that be should down by 4857,000, but our investments

Government and other stocks, which as resign the chairmanship. I need not sug Gal stand at or below market values. how much his colleagues regret this deci sion

n on his part, and how reluctant they are up by 12.000, and you will notice were to accept his resignation, but I am that whilst Bills Receivable show a de- cline of £419,000, there is rease in

of more than pleased to say that, whilst wo

Receivable and Advances lose an ideal chairman, whose place it Loans will

be very difficult to $. Sir Robert 274.000 The increase of £8,700 in the has consented to remain a member of the item Freehold Banking Premises repre- sents the halanes of the cost of our Bank board, and I hope and expect that we suall save the beacht of his sound advice premises at Simla and the cost of bunga- low for our managers at Karachi and Sir Robert has been chairman of this Madras, less, of course, the £10,000 Bank for 18 years and a director since written off. 1904, during which period and in spite of many other calls upon his time he has ande the interests of the Bank his best consuleration, and it is only necessary for me to unit to the steady progress of the Bank under his guidance and the very strang financial position we are in to-day to show how much we are indehted to him. As I have said, it will not be easy

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to Ell his position, but as, including Sir Robert, my colleagues have unanimously asked me to do so. I have agreed to Recept the chairmanship whilst pleased to say Mr. Sinions has consented to snecéed me as deputy chairman. can only say that, as a director since , and as deputy chairman during the past year, have always followed the working of the Bank with close interest and with the ever ready co-operation of my colleagues and the invaluable help I know I shall receive from Mr. Steuart. I can at least hope to give "antisfaction to all concerned.

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LOCAL SPORT.

"LAWN TENNIS..

H.K.C.C. TOURNAMENT.<

The following games were decided in the H.K.C.C. Lawn Tennis Tournament yesterday:---

Handicap Doubles--Lt. Col.. Montague Bars and Capt. R. H. P. Wes (15) bent W. Ironside and C. C. Hekling

Though perhaps it was only to be ex pected in view of our progressive policy in opening new branches, I am pleased to say the business done by the Bank in 1924 shows a marked increase upon that done in the previous year. But, whilst our operations have increased, i am sorry (+4/8). 863, 6-1..

Club Championship.-S. E.. Green to say that competition between banks has not grown less, and that. margins are bg.

Handicap Singles A.; J. Altree oftet very narrow and indeed hardly exist. R. J. Saunders, 6-1, 8-5. 6-0.

For the satisfactory results ob(+976) beat fi. B. Hett (3/6), 18, 4-0. at times, tained, therefore, our thanks are more than ever due to Mr. Steuart, our chief manager, the London manager and the sub-manager, whilst we must not forget the accountants and other heads of de partments at the head office, or our suc vessful branch managers abroad and on behalf of my colleagues and myself I take this opportunity of thanking all for their loyalty and devotion to the interests of the Bank.

1

PROSPECTS OF CURRENT YEAR.

1. I attempt to deal with the prospects At the end of last year, as you know, we elected Mr. C. J. Hanthro, a director for the current year, whicht, so far as the

:

TO-DAY'S MATCHES.

The following gues are down. Font Open Championship Doubles (4th) decision to day-

Lt. Col. Montague round). at p.. Bates and Capt. R. H. P. West. Yew Mixed Handicap Doubles.(Seani Man Tann and Ho Ka Lau..

nal): Mr. T. H. King, and Mis. McElderry (ser.) Mr. and Mrs W. Ironside (+4/8).

Handicap Singles ~B.?'--(3rd, round) LMS.. Lloyd (~3/6). . . C. Womack (ser.)..

and

7'.

was runner-up

BOXING.

TOURNAMENT.

for

the

AMERICAN'S SUICIDE.

HOUND HANGING IN A NULLAH,

The dead body of a man, who was later identified as an American who had been stopping at the Hongkong Hotel for neck from a tree in a nullah at Glenealy, short period. was found hanging by the between Robinson Road and Caine Road, on Monday night.

a Portuguese gentleman, who was on his The gruesome discovery was made by way up Glenealy at 10.30 p.m. by chair. Looking into the nullah, he noticed the man hanging not very far from the road. After being informed, the police went to the spot indicated, and found that the deceased was a mad of about 40 years of age and that life was extinct.

Very little information can be ascertain- ed arout the dead man. except that it has been found that he was an American, who had only been in the Colony for few days, having arrived from Shanghai. A passport found in his pocket bore the name of E. Gray."

It has been established that Mr. Gray was en engineer. whether a marine or rivil engineer is not certain, although it is understood that he was the former, Mr. Gray arrived in the Colony from

ense of suicide.

somewhat

The funeral took place yesterday after- noon-from the martuary, where the body" had been lying since Monday night.

of Hamben's Bank, to a sent or the board, Bank is concerned, seems to me encourag

hope you will not think. I wish to On Friday a match will be played in Wanghai somewhere about a fortnight ago and stopped at the Hongkong Hotel and you will be asked to confirm his aping.. pointment. For some time we had been pose as a prophet, for nothing is further the pen Championships Singles (4th for about ten days. At the end of thin the look-out for a young director who from my intention. There are too. many roand) between M. W. Lo and Specind he left to go to Canton for a day It is to be hoped to play off the two, returning from there last Fri was actively engaged in the City and who difficulties surrounding as and too many Cippen, would bring business of the right kind to important questions awaiting settlementarini-finals sext week, one on Monday ay. He continued his residence at the "Hongkong Hotel and was apparently his the Bank, and I am satisfied that in Mr. to make it possible for anybody to look and the other on Tuesday.*

FAMOUS U.S. PLAYERS COMING. I-self. As late na nine s'etnek on"

seen on the Hambro we have secured the services of very far into the future. In the first

Monday night he was director who will do all in his

Three of America's finest tennis play verandah of the Hotel, so that he must and world, and if I may judge from the ex- to further the interests of the Bank and ice we want to see peace in the labour cement the pleasant relations already travagant demands put forward recentlyers are to pass through the Colony on existing hetween Hambro's Bank and this by the railway men, whose wages already their way to Manila. They are Mars have left the building and met his death Bank. We have, I regret to say, lost the compars more than favourably with those R. G. Kinsey, H.. O. Kinky and H. B. within the next hour and a half, 23 valuable services of Mr. Murdoch our of men cumployed in more skilled occupa- Snodgrtsa. H. O. Kinary is Doubles his dead body was discovered at 10.30 Whether Mr. Gray was worried in any London inetager, whom we shall all miss. tions, the outlook is not promising for Champion with his brother of the United bat Mr. Murdoch has served the Bank any reduction in the cost of transport and States on grass and clay courts and with ability for us years, and ns it was production generally. Then assuming it ranks fourth in the U.S.A. in. Singles way, either in the matter of work or by his wish to retire we have filled the post is decided to return to an effective gold He is also a member of the Davis Can any financial embarrasment could not be

terday but circumstances tion of London. manager, appointing Mr. standard and not renew the embargo on fear, and, has played against Tildendelinitely ascertained by a Daily Preds J. H. Crichton, our late manager in Cal- exports of gult, which seems likely in the and Richards, R, B. Snodgrass ranks representative. on making "enquiry yea

near future, it is difficult to say what sixth

point in the latter direction, as no culta, to the position of London manager. and as Mr. Crichton has served us well effect this may have on the value of money National Clay Court Championship and money was found un hun when his body in the East for 24 years he comes to the and prices. The coring Budget, too, wil he is also Champion of California They was discovered-The only thing found. head office with all the qualifications au doubt-exercice some influence on trade are expected to return from Manila on

identifying him was by passport The necessary to make a good and efficient in the future, depending upon whether the Enures of Capout May Thon him, and incidentally the means of second-in-command. You will remember or not the Chancellor of the Exchequer and the E.K.C.C. are trying to arrange that in referring to the sad death of Mr. is able to reduce the present burden of exhibition matches for May 12th, 13th police are of the opinion that it was a

in taxation; from which, of course, the and 14th. Mould and the appointment of Mr. tax Stewart na chief manager at our last dustries of this country are suffering. annual meeting, I mentioned that we were But, after all, this Bank is more inter- indebted to Mr. Murdoch far agreeing to ested in trade with India, Burma, Cey- postpone his retirement and fill the posi¡ lon. the Straits Settlements, Federated EAST SURREY'S INTER-COMPANY tion of London manager until such time Malay States, Java, Siam, China and

THEATRE ROYAL CONCERT. we could make other arrangements, Mauritius, where, as you know, we have

The East Surrey Regimental Inter.

ENTERTAINMENT IN AID OF and I take this opportunity of thanking branches to which we look for most of

R.A. ASSOCIATION. Mr. Murdoch again for standing by us our profits, and, as I have said, the out- when we were in a diffinity, and wish look on the whole is encouraging, so far, Company Boxing Tournament will take ing him health and happiness in his.re though I have to admit we are passing place at Murray Barracks this week, the

The finals being fixed for Friday, May 1st.

Among the entertainers who are to The tournament will be held on Inter-

programme of this tirement from active work. Another in-through a dull time at the inament. portant appointment to which perhaps still comparatively high price of tea and ought to refer is that of Mr. Linton to the improvement in the price of rubber Company Team lines ned, being an open contribute to the he our inspector of branches, though I am should be of benefit to Ceylon, whilst in competitios, all the best boxers in the grand variety concert to be given in nid of the Hongkong Branch of the team in all weights.

ELIG the sure Sr. Linton will be much missed at spite of the restriction on output the battalion will compete. Each Company the Theatre Royal on Friday evening in

The winning Company will receive Royal Artillery Association Singapore, where he has managed cur higher price of rubber and the satisfactory will enter

returns from tin should mean an improve-

In addition to this, following:-Major J. Macready, 1.8.0. branch with success for some years."

ment all round in business at Singapore, Challenge Cup. hut conditions in China "are such that Companies earn points, in relation to light comedy); Licut. A W. Allock, If I except fluctuations in rates of do not think we can expect much con- their final order of merit in this com- R.A. (comedian, heavy); Mr. T, A #light exchange, which make business so diftribution to our profits from that quarter. petition, towards the award of the Zelleasky (entertainer); Mr. Silas (enter- cult, the past year brought with is more in Burma and Slam large erops of rice Battalion Athletic Shield. This shield tainer); Mr. Bart Burrows

Stanley Collett (soprano); stable conditions generally, and there was have heen secured, and with a good de- is awarded annually to the best Athletic, comedy): Mrs. Stan Col Brock (light Stanley Collett (accompanist); not only an increase but an improvement mand not only from Europe and Cuba Company during the year.

A large number of the competitors Mr. in trade as a whole but of course several but also from China and Japan at pre- of our staple industries, such as iros and sent satisfactory prices, the outlook for have previously appeared under the Mrs. N. Mathieson (contralto); Mrs. steel. coal and shipbuilding, are still de trade is promising. In regard to Mauri-suspices of the Hongkong Boxing Asso F. C. Hall (comedy); Mr. Chas. Olive pressed, and the cost of production all tins, and this applies to Java, the price ciation at their tournaments. Followers (character artiste): Mr. H. F. Gardner R. Keown Regiment; Mr. round requires to be reduced if we are of sugar, owing to large crops in Cuba of boxing in Hongkong may, therefore, (tenor); Band, 1st Battalion. The East (baritono); and Mr. F. Mason, A.R.C.O., to regain our export trade. There was and Europe, has fallen to a low level, rest assured that some good contests will Surrey

L.T.C.L (accompanist). was very little fluctuation in the value of and I am afraid the planters will not have be seen. money, and prices generally were steady a profitable year, but the erop will have though with a tendency to rise. There to be shipped either to the United King was an expansion in our imports and dom or India, and I do not think the exports, particularly the former, and the business of the Bank will suffer. I think, visible balance of trade against us in therefore, that although we cannot per creased from £211,000,000 in 1023 to haps expect more than satisfactory results

South China Senior "A" is playing capacity whatever. £344,000,000 in 1924, but as our invisible in the current year, we are fully justified.. exports are estimated at £30,000,000, and in looking forward to a real revival in another friendly game with the HM.B. as these do not take into account the trade sooner or later, and in the mean-Hawkins to-day at Sockunpoo, kicking Traditiona value of direct shipments from India and time the financial position and the or-off at 5.15 p.m. Both sides are fielding cor our Colonies to foreign countries, we can-ganisation of the Bank leaves nothing to stronger teams than last Saturday, and

a better game is expected. not be said to be living on our capital, be desired. as evidence of which the overseas issues

YEAR OF MORE STAILLE CONDITIONE

I have now to propose: That 'the

"FOOTBALL.

〃

SOUTH CHINA . H.M.S.

HAWKINS."...

"

The objects of the Royal Artillery Association are:--

To create and foster à bond of com radeship between all who are serving or have ever served as Artillerymen in any

To maintain the proud Artillery

aud to foster aprit de

By the establishment of Branches '* in every part of the British Isles and Inter, not only throughout the British Empire, but in every part of the world, of capital in London last year amounted report of the directors with the audited

Before Mr. E. W. Hamilton at the where such a course is feasible to in- Gunner Friend" in the to £184,000,000. I think, therefore, the statement of accounts and balance-sheet outlook is on the whole brighter than for, at December 31st, 1924, presented to this Kowloon Magistracy yesterday, three stitute a

charged with having strictest sense of the words "e. —To some time past.

meeting, be and the same are hereby Chinese were received, approved and adopted, and that attempted to commit an armed robbery watch the interests of the Artillerymon, final dividend on the A, B and Cat No. 8" Chatham Road, on April 21st their familia and dependente, of all shares of this Bank of 8 per cent. He paid, Inspector Clarke eaid, the men walked ranks and all brandies, and to extend making 16 per cent, for the year, less into a room where four women were a helping hand to, those who are sick or To organise Employment and Infor- Income Tax, as recommended in the re. seated at table gambling, when oon of in trouble through no fault of their own. the men asked if there were a man named port nad the same is hereby confirmed."

THE ACCOUNTS.

ارو

I will now refer to the Sgures in the balance-sheet and proft and loss account which have been in your hands for some Jays. The net profit for the year at £243,410 falls short, of that for the pre-

To give those who have served as Mr. Simons seconded, and there being A Chan in the house, and was told mation Bureaux. vious year, but this you will notice is

no questions, it was put to the meeting there was no such man there. He then due to the increase in expenses which in

drew a revolver, whereupon one of the Artillerymen soma means of retaining turn is explained by the expenses incurred and carried unanimously.

To act ne trustees for orphans, regi- at our new branches, which I am sure Mr. Ryrie proposed, and Mr. P. Rwomen rushed to the verandah and blew touch with old comrades, me you will understand are still in the de- Chalmers seconded, the re-election of Six polics whistle, whereupon the robbers velopment stage. But we are not only Robert J. Black, Bart, and Mr. C. J. ran into the street and the secged and mental property, cte

by grants or scholarship: able to maintain our dividend in com- Hambro to the board of directors. The third defendants were captured by Mr. To give financial assistance with edu fort, but to make the usual allocations resolution was carried unanimously, and F. J. W. Focken, of Alex." Ross & Co. cation

The first defendant were arrested in under the Bursary scheme.

To form a representative body to fur to Reserve and Officers Pension Fund, the auditors were re-appointed. though you will notice that on this ocea A vote of thanks to the chairman, Stanley Village, revolver being found

matters. journed. sion the amount written off Freehold directors, and staff concluded the meet-in bis possession. The case was ad-ther the interests of the regiment in al Banking Premises is reduced to 210,000, ing.

"