1926-03-05 — Page 9

S.O.A.E.O.

BEST REPAIRS !

LOWEST PRICES!"

DEALERS

AND

THE HONGKONG DAILY PRESS, FRIDAY, MAROH- 5m, 1916-

MANUFACTURERS of Oxygen and

Acetylene Gas

THE FAR EAST OXYGEN AND ACETILENE CO., LTD.

Carbonic Acid Gas, Ammonia, Calsiam

of Carbide, Motor Cycle, Acstylene Tanks, ail necessary equipment for Low and High Preure Autogenous Welding,

Blowpipes, Gauges, Scraping Powder, Electrodes and all kinds of Metals for Welding Purpose. BOILER REPAIRS

A SPECIALITY. Autogenous Walding of all Metals by Oxy-Acetylenia and Electric Processe

APPLY OFFICE:-20, DES VŒUX ROAD CENTRAL FLOOS Telephone C. 2344.

For Urgent Repairs:-Kowloon 789.

Special Running Service in Our Workshopa at Kowloon (To-Kys Wan)" for URGENT REPAIRS required during the NIGHT INCLUDING HOLIDAYS

HONGKONG. TO EUROPE.

A SPLENDID OPPORTUNITY

TO TRAVEL FROM HONGKONG TO EUROPÉ IS AFFORDED BY THE LARGE AND LUXURIOUS

CUNARD LINER

S.S. "LACONIA "

VIA-MANILA, BATAVIA, SINGAPORE, RANGOON, CALCUTTA, COLOMBO, BOMBAY, SUEZ, HAIFA, JERUSALEM, ATHENS, NAPLES, MONACO AND CHERBOURG

DUE TO SAIL FROM HONGKONG AT 7 pm ON THE

20th MARCH, 1926

FOR PASSAGE RATES AND FURTHER INFORMATION, PLEASE

APPLY TO

THE TOURIST DEPARTMENT

OF

THE HONGKONG AND SHANGHAI HOTELS, ĮLTD.

16, Dzs Vœux Road, Cusṛtal ---

HONGKONG.

[3167

THE PRACTICE OF UNDER- WRITING.

LOANS IN WHICH THE GUARAN

·TORS HAVE HAD TO BEAR"",

THE KUNDEN.

A LIFE AT: SEA-IN THE KING'S NAVEE.

49,500 BOYS FOR 6,500 PLACES!

THE NELSON SPIRIT Though nobody who pays taxes is eager The food of new issues during the past for a new war, the romance of the Fleet few months, and the prospect of many and the Fisg is as magnetic to young other important missions in coming Britain of to-day as it was when Marryat wecks, has drawn considerable attention and Dibdin were writing. to the practice of underwriting, says the Financial News. As is well-known, one of the points to be noted when studying Any prospectus is whether the issue has been underwritten or not, as much de

BRITISH COMPLIMENT. TO PORTUGAL.

MINISTER OF MARINE AT ALANŒUVRES.

PRINCE LINE FAR EAST SERVICE.

NOTICE TO CONSIGNEES.

Fox NEW YORK,

The Second Cruier Squadron, consist. ing of the Curaco, Caledon, Comus, and Cleopatra; and accompanied by the faft Lisbon for Gibraltar last month, Portuguese cruisers Fouga and Tamega,THE Shamship with the Minister of Marine on board

the Curacea.

2. "EASTERN PRINCE”. having arrived from the above Fort on 1st March, Consigneon of Cargo are hereby informed that their Goods are being landed a thei: risk into the Godowas of the Hong. kong and Kowloon Wharf and Godown Company, Limited, Kowloon, and stored at Consignees risk and arpense.

All brokon, chafed, and damaged Goods are to be left in the Godowns, where they will be examined on Monday, 8th instant at 10 am.

within fifteen

Admiral Kelly gave a Juncheon an It is pleasantly significant to and that board his flagship, the Curassa, at which the returns of Naval Recruiting for hat there were present, among others, the British Ambassader, the Prime Minister, year, just completed, show that for 6,500 and the Ministers of Marine and Foreign vacancies there wars 48,300 applicants, Affairs, Admiral Kelly, speaking in What the recruiters want in particular French, acknowledged with thanks th kindness and hospitality which had beet.

mand, and the arrangements made by the Minister of Marine for the ships to the milers to go ashore and the people come alongside the wharf, thus enabling of lisbon to come on board to see the ships more easily and promoting friend-stant will be subject to after the

pends on this. If, when a loan or share are applications from the types of boys | shown to himself and all under his corn All Claims must be pral-here,, after

Fissue is contemplated,

who have passed the accondary school tests with some merit; and it is to be noted as a healthy sign that such boys do not always want to go into the black cant occupations; quite a number prefer the profession of the Royal Navy.

"the recognized dealers in the market--who may always be relied upon to judge the position, fair ly and squarely-copsidered it prudent not to underwrite it, those responsible for the emission would have a hard job]' to secure support. Such positions have cial.

A METHOD OF PROTECTION.

A REAL PROFESSION.

days of the steamers which date they cannot be recognized. have left the Godowns, and all Goods No Claims will be admitted after the Gools

remaining undelivered

Consignoon of Cargo are hereby notified that they must produce an Import Permit signed by the Superinendent of Imports & Exports, Hongkong, before Bills of Lading can be countersigned.

No Fire Insurance has been effected. Bills of Lading Will be countersigned by

FURNESS (FAR EAST), LTD.,

Ind Floor, King's Building, Connaught Road, Hongkong

Telephone No. 3185. (3204

5.5. "ANDRE LEBON."

COMPAGNIE DES MESSAGEBIES

MARITIMES.

NOTICE

ship and good will It gave him infinite pleasure to see the ships visited by thou "And it is a profession, and an off-sands of people. "Once more," he said. have we an opportunity of manifesting By the time that 19 years have our friendship, which is traditional, and arisen on more than one occasion. been served, with an option for further which has been and will be maintained, On the other hand, it has to be admit-service and a pension, and then a term for the most ancient alliance in the ted that underwriting is not always of ten years in the Fleet Reserve and

world." necessary. For instance, one might turn added pension, the boy sailor has be

The Prime Minister, in reply, said he to some of the rubber issues that have come the man who is a master of his

was extremely gratified and touched by been made during the recent boom profession.

Hongkong, 1st March 1996. The dental and eyesight tests are not Admiral Kelly's reference to the bonds period, when it was A foregone con- clusion that the subscription lists would too easy to pass. Five missing teeth and which, thoroughout history, had joined be closed almost sa soon as they opened faults in others will mean rejection for Great Britain and Portugal. He thank- boys under 17: ten will mean rejectioned the British Admiralty for their ex- awing to the tremendous rush of optor applicants more than 17 Eyesight trema kindness in inviting the Minister plicants.

to be present at the must be six-sixths for seamen and of Marine marines: six-ninths for stokers.

maneuvres, and affirmed that. Portugal'a At the same time, as a method of pro- That accounts for the large number friendship for the British nation would tection, underwriting is always a desir of rejections for defective teeth and eyes.be still more firmly planted and would, able safeguard, and it therefore follows is true that sailors do not have to eat if possible, become closer.

After the manœuvres, a British des- that underwriters must be prepared for the bard tack of Nelson's day. But once

troyer was to bring the Minister of risks Only recently, for example, un-you allow artificial teeth to count as real derwriters of the South Australian issue teeth, you are taking chances on foreign Marine to Lisbon: of £1,500,000 were left with 63 per cent.service at least. A sailor in a gunboat,. of their liability; while in the case of the, up the Yangtze-Kiang, would not be able to And a dentist to repair broken Queensland issue of £2,500,000 65 per dentures or to make new ones! cents had similarly to be taken up. ("

The point is illustrated even more.

last year, graphically by going back when it will doubtless be, recalled that only 15 per cent, of a New Zealand loan for £7,000,000 was subscribed by the public, which meant, of course, that the remainder had to be borne by under writers, while about the same time the London County Council made an issue

From the national point of view if of £8,000,000, of which per cent, had to be shouldered by the guarantors. In is regrettable that so large a proportion such circumstances, it is clear that un-of rejections should be because of faulty "derwriting should be undertaken only by teeth. You may be losing a boy who persons thoroughly competent to meet otherwise would make an admirable recruit yet there is no sign that the any emergencies.

pick of the youth of the country is in- different to the call of the Navy".

A CHANGE NOT FOR THE BETTER.

140 PASSES IN A WEEK.

"But strict though"the standard is for physical reasons and concerning char. acter; last week 140 boys passed, when. 60 would have been sufficient; and 69, atokers, though 43 would have fulfilled the average of what-taking the year through-it is expected to get in one week.

From this the question arises. Has "The spirit of the applicants is high the system of underwriting changed in and even where there are disqualifica. any way? So far as we have been anlations, it is found that boys and young to ascertain from careful enquiries, it men do not alwapa reluctantly abandon certainly has, and the change is not for the desire for service, but go in for posts the better. The complaint, for instance, in the other services where the tests are that when an important issue is made not so rigid as they must be in the senior in any market, dealers are not allotted arm. what may be described as a just propor-. tion simply because it has somehow goos to outside interests, appears to have good grounds.

זוי

After all, there is only one place where it is possible to create a free market either in scrip or shares, and that is the Stock Exchange. If, therefore, under- writing goes outsiders, any stack that may be left on their hands has ultimate- ly to come on the market, and the job- ber is expected to take some on his books, despite the fact that when he applied for some he was unable to obtain a reason- able proportion. Supposing the tables. were turned, and that after a particular issue had been announced, suddenly, owing to their feeling of disappoint- ment, the market decided not to have anything to do with it, this would react on the value of the stock or shares tal such a degree as to cause considerable perturbation to those responsible for the issue. The public naturally look to their brokers to buy and sell stock for them. and the latter would not dare recom- mend any issue to their clients if there was the alightest possibility of jobbers refusing to deal in it.

-

A MORE EVEN DISTRIBUTION, Such considerations have undorbtedly caused feeling on the subject to run to a high pitch at times, and there is a strong plea that underwriting "should be more evenly distributed," as one of the many jobbers discussing the subject put it. The market in any particular share or stock should be given a prior opportunity of participating, if desired La the interests of the public, whose ser vants we and the market are, we appeat for greater discretion in the matter little thought would save what appeart]| to be at times a very strained position."

HAMBURG AMERIKA LINIE of the Flettner Rotor ship interests, that

COMBINED FREIGHT AND PASSENGER SERVICE

SAILING FOR SHANGHAI AND 9.8. "OLDENBÜRG

JAPAN.

(dus from Europe) m or about 20th Mar., 1926.

SAILINGS FOR

GENOA, ROTTERDAM & HAMBURG VIL: MANILA,

MUENSTERLAND

on or about 28th Mar., 1923.

For freight, passage and further particular please apply to

CANTON: Carlowits & Co.

MACOL & A. de Mella

BTATUT

"Autor:

Eoses Bro.

C. Martei

Foocrow Biomasen & Krohn.

JEBSEN & CO.,

12, Pedder Street.

2225,

ROTOR SHIP FAILURE. LOSS OF HALF THE CAPITAL.

The announcement of the Hanseatic Motor Navigation Company, the owners.

they have lost half their capital, and are debating whether to go into liquidation or not, has justified the opinion of ex- perts at the outset, but it has gravely dimppointed Flettner's enthusiastic sup porters, says & Berlin correspondent.

The fact now transpires that the majority of the shares in this compsay formed to popularise Flettner's inven- tion, dre in the hands of the great Jun- ker family of Thiele-Winller, of Bilera, whose standing and reputation point to belief in the Flettner invention as cal- culated to raise Germany's world pre- stige again.

The loss of more than half of the 450,000 marks put in is due to lack of orders for cargo for the two Rotor ships owned by the company. If Flettnar a invention is a failure from the economis. standpoint, it is still believed that in principle future developments are pos sible.

Don't worry

Doberal

MROFETEN

household.

A Welcome Visitor

at any time in

every Every

Bug, Fles, Beetle, Moth, Fly, etc., dies once it has come into proper contact with

KEATING'S

THE BEN LINE STEAMERS, LIMITED.

"

10 LETTE, MIDDLESBRO', ANTWERP LONDON, STRIATS, AND MANILA.

The Steamship "BENMOER"

CONSIGNETS of Cargo are beraby inferuṛ - od that all Goods are being landed at their risk into the hazarious and/or astra hazardous Godowns of the Hongkong and Kowloon Wharf and Godown Co., Ltd, whence, and/or from the

barres, Delivery may be obtained.

No Claims will be admitted after the Goode have left the Godewas, and all Goods remaining andelivered after the 6th instant, will be.

Bast subject to

All Claims against the Steamer must be presented to the Undersigned on or before the 20th instant, or they will not be recognised.

All broken, chafed and damaged Goods are to be laft in the Godowns, where they will be examined on the 6th instant, at 10a.m.

No Fire Insurance has been affected. Villa of Lading will be countersigned

GIBB, LIVINGSTON & CO., LTD.

Agents. Hongkong, 1st March, 1928. [3263

THE EAST

1

YONSIGNEES of Cargo from MAR. SEILLES, & alto Cargo from HAVRE, LA FÄLLIGE OOGNÃO, BORDEAUX,

ex 1.8. "PETHO" Sleater aro

in connection with Above hereby informed that their Goods with the arception of Opium, Tressure and Valuable are being landed and stared at their risk into the Godowns of the Hongkong and Kowloon Wharf and Godowe Co., Ltd How- loon, whence Delivery may be obtained in medistaly after landing."

Intimation is received from the Consignes Optional Cargo will be forwarded an unless

before 19 Nooz, TO-DAY, requesting it to be landed hare,

Bill of Lading will be countersigned by thạch Underigned. Goods remaining unclaimed after Tuesday, the 9th instant, si Noon, will bu rubject to Bent and Landing Charges.

All Claims must be sent in to me on or before Friday,

the 12th int, oz. they will not b recognized.

All damaged Packages will be examined Tuesday, the 9th instant, at 10.00 a.m., by Mesars, Goddard & Douglas,

No Fire Insurance has bom affected. ›

B. BODENTUSER,

Agent Hongkong, 3rd March, 1928.

[8279

ASIATIC CO., LTD

COPENHAGEN,

The M/S. DANMARK”

will be loading for MARSEILLES, VALENCIA, BOTTERDAM, AMSTERDAM, HAMBURG. COPENHAGEN, and other BOANDINAVIAN PORTS,

On or about 26th March, 1936.

Farther Bailings

M/S. Asia M/S. "Java

Expected on

or about

15th March

20th April

Will leave homeward-bound

subject to change without notice.

For further particulars, please apply to i

on er about"

JOHN MANNERS & CO. LTD.

Agents

THE HONGKONG & WHAMPOA DOCK CO.LTD.

TELEGRAPHIU ADDRESS 1. “ MANIFESTO, KONGKONG

CODE UND A1. A.B.C. Fifth Edit; Engineering: First and Becond Editions

→Western Union and Watkin's, Benson's, Harconi

Dock Owners, Ship Builders, Marine and Land Engineers, Boiler Makers, Iron and Brass Founders, Forge Masters, Electricians

S.S.

TAIPING

BUILT AND ENGINED AT KOWLOON DOOKS BY THE HONGKONG & WHAMPOA DOCK CO., LTD., 20 THE

OLDER OF THE AUSTRALIAN ORIENTAL LINE, LTD, FOR AUSTRALIAN HONGKONG SERVICE, Please address enquiries to the Chief Manager,

B. M. DYEE, B.Sc, MINA KOWLOON DOOK, HONGKONG