1926-05-19 — Page 3

Page

THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

Tel Central 336.

THE

4, Queen's Bulidings,”

AGENTS FOR

BRIGG'S

BITUMINOUS

·ENAMELS & SOLUTIONS.

HOLE AGENTS FOR

* UNION

11

ANTI-CORROSIVE and ANTI-FOULING

COMPOSITIONS

FOR SHIP'S BOTTOMS.

ANCHOR BRAND PURE MANILA ROPE.

"THE CORDAGE YOU CAN TRUST."

MARINE RUPE

TRANSMISSION.

OF POWERT ROPE

CABLE LAID

HAWBERS

WELL DRILLING

CABLES

80

ESTABLISHED 1854

RUPES OF ALL SIZES FOR ALL PURPOSES

CHAUST

ROPE

FACTORY

MANILA

MADE FROM PURE MANILA HEMP

MANUFACTURED

BY THE MOST MODERN MACHINERY.

STOCKS ON HAND OF ALL SIZES) ENQUIRIES SOLICITED

HONGKONG OFFICE:

FACTORIES:-MANILA, P.I.

TILEPHONE CENTRAL 3165.

KING'S BUILDING.

AFB

UST ARRIVED Shipment of High-Class HOLLAND CIGARS, Attractively Packed offered Ex Bond, especially suitable as Gifts; An Excellent Opportunity for Ships, eld, to obtain at Haif Retail Price. "Wholesale Price Only for Not Less Than Five Boxes sach of Twenty-fire.

120]

TEL 4630.

THE

MONTGOMERY, OLLERTON & Co.,

10, Des Vœux Road Central.

NAVY'S CHOICE

Coates

ORIGINAD

PLYMOUTH GIN

OBTAINABLE EVERYWHERE.

TO IMPORTERS.

"

410

The undernoted firm of Export Merchants, wishing to extend its businası connections, solicits correspondence from either Foreign or Chinese firms interested in the importation of British goods.

4

Principal lines dealt in are as follows:-

Textila Dept.

Metals and Machinery.

Ship Supplies for DecK

AND

ENGINE ROOM.

Brokers for the Sale of Vessels.

Provisions..

Canned Goods.

Sundries,"all kinds.

WOOLEN, COTTON KNITTER AND SPORTS GOODS, WEARING AFTERZI., ITC. Wines and Spirits.

Scorca WHOKIES, GIMS, ETC. (Beli- able Brands), in Case and/or Carks.

Sample Orders executed at actual Nett Cost.

kxwlusive Agencies arranged.

Shipments made from any convenient British port.

Keen C.I.F. Prices Quoted delivery any Open CHINA COAST PORT/ References: ~

CHARTERED BANK LTD, LONDON,

ROTAL BANK OF SCOTLAND, LTD., GLASGOW Prompt attention given to all Enquiries addressed to-

3562

JAMES W. JOSS, LTD, 115, WELLINGTON STREET, GLASGOW, SCOTLAND,

Horlicks helps to make fine healthy babies and strong and vigorous children

In 4 sizes

of all Chemists & Stores

Selected cereals and pure milk

are the basis of Horlicks Malted Milk-and skilfully blended as they are they Supply the young growing system with the necessary nourishment in the most easily digested form

HORLICK'S MALTED MILK

HONGKONG " DAILY PRESS, WEDNESDAY, MAY 19TH, 1926

COMPANY. MEETING,

You will notice that the investment and exchange fuctuation secount shows,

THE CANTON INSURANCE OFFICE,& decrease of 8313,382 59. This is the re

LIMITED.

A VERY SATISFACTORY REPORT.

salt of depreciation in the value of our gold and silver investments and to ad- verse exchanges, both sterling and The forty-fifth ordinary general meet-Shanghai taels. ing of shareholders of The Canton In-quite a large proportion of this sum has I might mention that surance Offer, Ltd., was held at the been recovered since December 31st, at offen of Mesara. Jardine, Matheson & which date the values of our securities Co., Ltd., the General Agents, yesterday, and the rates of exchange' were taken when a very satisfactory report was for the accounts. - presented.

Reinsurance Fund is over $180,000 up.

The Hon. Mr. D. G. M. Bernard pre-while underwriting suspense account is sided and members of the Consulting down almost an identical amount. Committee present were Sir Robert Ho The surplus to be dealt with is Tung and Messrs. A. S. Gubbay, H. P. 81,100,081.17, out of which has been paid White and Henry Humphreys, with the an interim dividend of $19 per share. We Secretary (Mr. F. C. Hall). The follow. now recommend the payment of a inal ing shareholders were also present:- dividend of $99 per share, the appro Mesars E. M. Raymond, Ho Leung,priation of $100,000 to reinsurance fund, Chui Siu Nam, P. H. N, da Silva, R. A.10,000 to sterling reserve fund and the Dastur, Lo Cheung Shiu. Ho Kom Tong, A. H. M da Silva, D. V. Steavenson, Lo Man Hin and P. S. Cassidy.

balance of $313,499,87 to underwriting: suspense account to close the year 1984 The balance of $1,970,205.65 at credit of CHAIRMAN'S SPEECH

1995 account allows of the payment of the usual interim dividend of $15 for that The CHAIRMAN, said:-Gentlemen-It year. is with great pleasure that your General ther that calls for special comment, but ..I do not think there is anything fur- Agents and Consulting Committee again I shall be pleased to answer, to the present to you a very satisfactory report, best of my ability, any question arising especially as I am unable to announce may wish to put, after the adoption of out of the accounts which shareholders any amelioration in the position of the report and accounts has been duly Marine Insurance generally, although there are signs that underwriters are now taking steps to try to improve exist ing conditions.

seconded. tion:-

I now propose the following resolu "That the report and accounts, as presented, including the payment of a final dividend in respect of the year 1924 of $20 per share, and an interim dividend in respect of the year 1925 of 815 per share; an addition of 2:00.000 to reinsurance fund, of· $10,000 to sterling reserve fund and of $313.450.67 to underwriting suspense account be adopted and passed." resolution was carried unanimously.

Mr. Ho Kox, Toxo seconded, end the

OTHER BUSINESS."

The most serious problem with which we have to contend is that of maintain ing premium income. Business there is.. but business from, which a reasonable prospect of profit may be locked for is very hard to obtain. From Agents in a parts of the world, we receive reports of the additional difficulties that con- tinue daily to arise in the acquisition of business of a remunerative character. The Marine Insurance Market is still too big for the business available, and until there is a shrinkage in the former or a very considerable increase in the latter I can see no hope of any great improvement. It is only necessary to examine the accounts of the leading British Marine Companies to perceive how great the fall of income has been during the past six years, the figures for 1923 being in many cases considerably less than half those for 1920. We may consider ourselves fortunate in this resen be obtained on application.

pect, for, though we have also suffered, it has not been in nearly so marked a degree.

seconded by Mr. D. V. STEVENSON, the On the proposition of Mr. Ho Launa, Hon. Sir Paul Chater, C.M.G., Sir! Robert Ho Tung, Messrs. A. H. Comp- T. E. Pearce and H. P. White were re- ton. A. S. Gabbay, Henry Humphreys, clected as members of the Censulting Committee.

RAYMOND, seconded by Mr. P. M. N Ou the proposition of Mr. E. M. a SILTA. Messrs. Lowe, Bingham & Matthews and Perey Smith. Seth & Fleming were re-elected auditors at a remuneration of $750 each.

UBEN CINEMA

QUEER

SUPER

TO-DAY

THE

MIGHTIEST DRAMATIC SPECTACLE OF ALL AGES

THE TEN COMMANDMENTS

PART I

A MAGNIFICENT AND SPECTACULAR VERSION OF THE DAYS OF MOSES WITH BEAUTIFUL ~COLOURED SCENES.

PART II.

A POWERFUL MODERN DRAMA.

2.30

SPECIAL MUSIC.

TIMES

$1.00

&

PRICES:

20 cents $1.00

40 cents

60 cents

9.30

$1.00

$2.00

80 cents $1.20

40 cents

80 cents

5.00 Sharp. $1.50 7.15

THE STAR

TU-DAY AT 5.30 & 9.15

JEWEL CARMEN

IN

"NOBODY."

The CHAIRMAN: This concludes, the business of the meeting, Gentlemen, and Dividend warrants are now ready and HONGKONG STOCK EXCHANGE I thank you for your attendance.

PEAK TRAMWAY DIVIDEND.

annum

annun

893,000.00

Shareholders of the Peak Tramways Co

At the forthcoming annual meeting of Ltd., the Directors will recommend that. viz: $70,499.92 be allocated as follows: the amount available for distribution.

Dividend of 10 per cent. per ота 25,000 shares fully paid Dividend of 10 per cent, per on 48,875 shares 25.00 paid up (8100 per share paid up for six months, $5.00 per share paid up for six months) Dividend of 10 per cent. per anaum on. 1,323 shares 81.00 paid up Write off Permanent Way... Carry forward to New Ac-

count the balance

+

CF.OSING QUOTATIONE.

Bangkong Bank.

Do., London: Chartered Bank.

MAY 18TH, 1926. $1,095 bay., 1,100 sa. Mercantile Bank, A. & B......£301 nom. £125 nom. 290 nom

East Ana Bank

Do..

U......213) m.

...£94 Rom

P. & 0. Bank:

Canton Insurance

China Underwriters. North Chins Insurance

Union Insurance

***ON

THE

WORLD

TO-DAY AT 5,15 & 9,16 --

HOOT GIBSON

"CHIP OF THE FLYING U.”

EXCHANGE RATES. [BRITISH WIRELESS SERVICE.]

Paris Brussels Amsterdam Berlin Copenhagen Vienna

RUGBY, May 17th.

...1611

.1841

12.09

20,43)

18.54

34.46

Helsingfors

103

$635 bay.

Lisbon

2.17/32

1.90 buy.

Buenos Aires

43.1/16

Tla, 146 nom.

Shanghai

2/111

$268 sa.

Yokohama

1/11

Yangisze Insurance

197 bay,

New York

China Fire Insurance .....

$170 buy.

Genera

4.88.11/18 95.16

Hongkong Fire Insurance Danglases

$556

1324

$29 num.

18.18

Oslo

22.45

Hongkong

vel.

Prague

1641

$38 nom.

Madrid

33.78

..346 10.

Bio.....

72

..87/6 BOT

$82) nom.

Bombay

Silver (spot)

1/5.29/32 30.1/18

Silver (forward) ....................

11,002.30 H., U. & M. Steamboats...324

I regret to say that the London market has been at about its worst during the past year. Bad trade, excessive com petition and the unwise departure from many of the established precepts of marine underwriting have brought about an unsatisfactory state of affairs which it may prove most difficult to correct. Some underwriters. but we think there; can only be a few, have indulged in s system of reinsurance by treaty, appar ently overlooking the fact that if original rates are bare, they must be wholly unprofitable, to their Treaty Com- panies after a substantial percentage f commission has been deducted. This policy is most short-sighted and a rude awakening must follow. To date the re- sult has been merely to reduce rates to a figure that is almost entirely unre munerative. Rates, though easy to on. are at all times hard to re-establish...

It is unnecessary for me to comment FIRM'S LOSS BORNE BY TWO MEN. Tranch Mines

31

Indo-Chinas

132.50 Do. (el)...... 10,000.00 Shell Transporta.......

Star Ferrer....... Waterboats. China Maison Engara....... Bengueta... Kalan Mining Av.

20,65*.92

$70,429.92

DIRECTORS' £167,000

SACRIFICE.

JOY AT MEETING/

and vice-chairman of the company in A sacrifice of £167,000 by the chairman order to avert heavy loss to shareholders was announced at the annual meeting in Manchester of Messrs. J. and Phil drapers.

The generale offer, which the share holders-accepted amid ahouta of Bravo!" was made to meet loss of capital conse quent on the closing of the firm's London house.

Mr. Morton Philips stated that the profits in Manchester would have pro- vided a dividend on all the shares had they not been called upon to meet losses elsewhere.

Sugar

Lang rats (combined) Do. (ingle) Shangha Erplorations..

Shanghe La

Loszu.

Banba...RAD

Lands

$16 nom

$243 al.

.00 now.

2:35 nom $11 buy. 1.4227+ bay.

The buy, Tla 12 buy. ...... The of nom.

7 Nom. 110 Bom

ROD.

$148 mel. $55 zom. Tis. 180 buy. Tla, 5.90 bay.

Tis

106 Bom.

$10,30 bay.

$61 bay.

on the local position, and that prevail-

Ural Caspians au K&K Wharts. ing in North China, further than to

H.K. & W. Docks point out that this is to us, as to all

engineerings.. Hangkaw other Far Eastern Companies, & source

Shanghai Docks... of considerable anxiety. However, this

H. & N. Hotels. Company has weathered storms in the

Hongkong Realtys (o.p.)....851 buy. Hongkong past and thanks to the conservative & Co., Ltd., warehousemen and wholesale K, Territorials (f.p.)... nom.

Humphreys Habales..

$15) noin. " Prince's Buildings.. ..195 buy.. Ewo Lottens Rural Lands

„$7 nori. Urientals

.Th. 10.10 nom Hhanghai Cottons (old)

Tlo. 68 buy.. Amusementa

Tha. 27 buy. Canton Ices Cementa (combined)

Do. (oldj Da. '? (now). Okina Buses..... Chine Inghts (combined).

(old) (new)

policy that has been, and is being, followed it is now in a sound position and ran view with a certain amount of quanimity, the difficulties confronting

us.

·

10. Do.

Do.

16.

China Providents. Constructions Dairy Farme Der A

(new

Turning to the accounts, it will be seen that the premium income for 1024 shows An increase of approximately 850,000 over that for the previous year, while the final balance is better by some 851,000. But for the rise in exchange due to altered trade conditions following The loss at the London warehouse was from 2/31 to 2/41, both these figures the slump. would have been even better. The ratios for losses and for commission and

CHAJEMAN'S £135,000. charges work out at 58.18 and 20.34 per

Mr. Wright, the company's solicitor, cent respectively, as against 29.15 and stated that the chairman, Mr. W. M. 17.57 for the year 1923..

Philips, and vice-chairman, Mr. F. M. S. The balance at credit of working a Grant, had made the offer of their own count for 1995 is 81,970,289.03 and com- free will. They had adopted a reduction Hongkong Lectrica pared with 81,907,038.33 for the previous of capital, which they would hear entire Macao Xlectrics... year, it shows an increase of $63,230.1 ly themselves. It was, he added certain-X Developmenta Qur premium income, on the other hand an uncommon thing. The object was HK

A.K. Ropes (combined). is down by approximately $200,000. This to restore the dividend capacity of the

(old) (DOW) was anticipated and we expect to re- company, in confidence that the board Hongkong Tramways... enver the bulk of this decrenas during would be able to retrieve the prosperity Lana Urawfords... the current year. This working account of the old business. has

Mackintoshs.. further twelve months to run and, The chairman's contribution though it is early yet to attempt to fore- £138,000, and the vice-chairman's $29,000.

Peak Trame (old)................. cast the final result, we are fairly can-

Do. One shareholder stated, amid ap. Sinceres.

(now) Adent that it will prove to be satisfactory.plause, that the generosity was worthy of Taxis

Our assets as expressed in sterling the name of Philips. stand at an almost similar figure with Mr. W. M. Philips announced that he last year, while in Hongkong dollars they was vacating the position of chairman on show a fall of about $240,000, which is account of ill health, and it was stated largely due to the risc in sterling ex-that Mr. Grant had been appointed as change.

bis successor,

**LJ

Do.

..$71 nom ...31%) sel.

DOMĄ

Tis. 11.30 buy.

Του

$181

4134 80. ....104.

24. nom.

$5.80 dom.

...EU sat.

$10 nom..

+++

buy

дом.

225 cts. 10m. $30 sal: $10 Bel.

...$23.60 nom ...$104 sel

$19+ nom. 17 bay. Y nom.

11 nom

United Askmice Wataans (oll) ..... Wm. Powells Singapore Tractions

taybayers; BOLIG

$20 path, ...$121 buy,

$5 ol

Milan

Stockholin

POTTED SUNSHINE,

SUMMER IN THE BATHROOM, IF NOWHERE ELSE.

If summer fails to materialise in Eng- land, some consolation may be derived from the installation of artificial son lamps. These lamps have been exhibited at the Nursing Exhibition at Central Hali, Westminster.

ד' . לי

"Potted sunlight" in all its forms was to be found among the exhibita

It is claimed that an efficient lamp. giving an equivalent amount of sunlight to that obtainable on Brighton beach on the hottest day of summer, can be had for the small price of 3d per hour, from an instrument costing only £14.

An increasing number of people are secking artificial_slpine sunlight

**THREE MINUTES OF TONING-UP. The user of the lamp, after his bath in the morning, stands before the lamp for three minutes. All the protection be needs is pair of goggles over his eyes.

"A large family could be put in front of the lamp and gain ample treatment for 3d. a day, said the representative of one." firm: They would become as braced up as if they had just returned from a hole. day in the Mediterranean or at the sea- side.

The lamps are perfectly simple to, work. The actual, burner is made of quartz, and through it a stream of mer- eury run,When the current is switched on mercury vapour arises, and it is from this that the ultra-violet rays shine.

"A lamp will fast for several years, and even if it is broken it can be repaired for a small price,"

DR. LE CLERG'S PILLS FORMEDE

OVER HALF A CENTURY REPUTATION LIVEK KIDNEYE INVALUASIN=fer) Desarm of thier Extronelay URAN, GRAYIK, BADELORS, Govt, KauraVEL, Facehu. lnding Oustries, we FM TOG

DB.LE CLERG'S TOWN AFERENT DR. LE CLERC'S ARRMA, ZYKO AL

PILLE

*LAPK ÁRS KOSZARES JOR KAREN ANODESTIN #ELI CLERO'S SOAPM SA co 1, Zakis