1926-08-16 — Page 3

Page

"DECOLITE

FIRE-RESISTING FLOORING

(Awarded Gold Medal Franco-British Exhibition.)

JOINTLESS, HYGIENIO & NON-SLIPPING

Laid by Our Own Workmen On

STEEL, WOOD OR CONCRETE.

THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

Tel, Central 496.

3. Quson's Bulidings.

ANCHOR BRAND PURE MANILA ROPE.

THE CORDAGE YOU CAN TRUST."

MARINE ROPE

TRANSMISSION.

OF POWER BUFE

CABLE LAID

HAW SEES

WELL DRILLING

CABLES.

ESTABLISHED 1834

YNCHAUST

ROPE

ACTORY

BOPES OF ALL BIZES FÖR ALL PURPOSES

MADE FROM PÚRE MANILA HEMP

THE HONGKONG DAILY PRESS, MONDAY, AUGUST – 16ra, - 1926

MANUFACTURED

BY THE MOST

MODERN... MACHINERY.

MANILA

STOCKS ON HAND OF ALL SIZES, ENQUIRIES SOLICITED

4.

EONGKONG OFFICE:

TELEPHONE

FACTORIES-MANILA, P.I.

KING'S BUILDING. CENTRAL 8165.

A.P.B.

-Acouracy

-Legibility

-Compactness

-Ease of Reference

ARE THE EXOLUSIVE FEATURES OF THE

"ALL-IN-ONE??

EXCHANGE

Rapid and accurate calculation

of exchange is facilitated by the

use of the " All-in-One" Tables--

a compact, strongly bound volume, less than one inch in thickness, that covers a range of currencies sufficiently comprehensive for all practical requirements. A thumb index makes for speedy reference and examples of working the various tables are given on every

page.

TABLES

Sterling into local currency and

vice versa.

Gold Dollars into local currency.

and vice versa.

Yen, Hongkong or Singapore Dollars into local currency and vice versa.

Francs-into-local-currency_and

vice versa.

Rupees or Guilders into local

currency and vice versa. Mexican Dollars into Taels into

Mexican Dollars. Bising in sterling by vizteendie and other currencies by smallest

notal unit

An Exchange Table covering a Large Range in One-Third the space of the old-fashioned table.

Price: Eight Dollars (Shanghai Currency)

Postage: 80 Cents.

"NORTH-CHINA DAILY NEWS" SHANGHAT.

-116

MOUTRIE PIANOS.

LEAST COST!!!-

MOST SERVICE!!!

S. MOUTRIE & Co., Ltd..

Bo

1925

ON SALE.

Chater Road,

▶OUND VOLUMES of the HONGKONG. WEEKLY PRERS, July to December

With Loxx. Price-$7,50." :

On sale at the Hongkong Daily Press Roo

FENNOK KEMEDY

THERAPION NO. THERAPION · · No. 2 THERAPION NO. 8

Bol for Madder Colerh. Mo, a for Mécs & Bida Damn, p. 8 for Ukronis Takzimet, BOW TI ĮSAATNYO DEMODES, PERO ZE MARLINS, SE DE LS CLE

MAC FROM 10, Besarfe Day Tan Oz.43. 42 Merar fraser" Bay Pramonon

TRADE CONDITIONS AT HOME.

LIVELY LIFTON'S MEETING.

"

THE EFFECT.OF THE COAL STRIKE TURN-THE-BOARD-OUT CRT-

PIECE GOODS TRADE WITH CHINA.

The monthly reviewed of Barclay'a Bank, Ltd. for July, says:

-BY SHAREHOLDERS.

SIR THOMAS ATTACKED.

Catcalls, boos, ironical cheers and shouts of "Turn the old Board out". characterised the general meeting of Lipton's There were calls from some shareholders for the resignation of Sir Thomas Lipton," the Chairman, and other directors.

The Board of Trade returns for May provide an indication of the effect of the general strike and of the stoppage in the coal industry upon this country's over- seas trade. It is probable that owing to the disorganisation which resulted from the extensive interruption of business, many importers and exporters-did not Tender their returns to the Customs Authorities as promptly as usual and, to that extent, the figures for May repre- sent less than the full volume of external trade during that month, but even after

At times it was impossible for the allowance has been made for this factor, chairman to retain order, and his voico the contraction in the turnover is unas drowned amid a torrent of boos and doubtedly considerable.

Imports, at £81.2 millions, were £23.1 millions less than in the corresponding month a year ago and £21.3 millions less, than in April, 1928, while British exports, at £43.9 millions, declined by £18.4 mil lions and £rillions respectively. The entrepot trade was also considerably affected, partly because of the difficulty in obtaining shipping facilities, with the consequence that re-exports, at £7.5 millions, were £3.7 millions less than in the preceding month and £7 millions less than in May, 1995, total exports at £33.3 millions, being lower by £10.7 millions and £95.4 millions respectively.

OVERSEAS TRADE.

!

The decline in the overseas trade in comparison with April, 1998, and with May, 1923, extended over practically all groups of commodities but, in relation to May, 1995, the contraction of £18.4| millions in British exports occurred prin- cipally in manufactured goods, the total of £38.1 millions for that group being £12; millions less than in the corresponding month a year ago.

The principal decline in imports of manufactured articles occurred in non- farrous metals, which, at £2 millions, were £1.4 millions less than in May, 1995, and £1.6 millions less than in April, 1926, the lower figures recorded under this heading being mainly attributable to re- duced arrivals of copper, lead, and tin. Imports of touring motor cars and of silk and silk manufactures were considerably loss-than in the corresponding month year ago, but the comparison is affected by the fact that in May, 1995.-imports of these goods were exceptionally high, in anticipation if the new Customs duties which came into force on July 1st, 1923.

COAL TRADE.

Normally, the principal bem among British exports of raw materials is coal, and the contraction in this group in May

The great hall at Winchester House, where the meeting was held, was packed with shareholders, some of whom con stantly interrupted the meeting with de- mands for the entire reorganisation of the company.

cheers.

"MAKE THE BOARD RESIGN.

Sir John Ferguson, the new deputy- chairman, was greeted with cheers, and following the putting of the balance sheet and report a shareholder proposed as an amendment that the report should only be passed on un agreement

Sir Thomas to resign for eighteep months and leave Sir John an entirely free hand with the affairs of the com-" pany

This was seconded by another share- holder, who abcuted: "Go for a year's trip in your yacht, Sir Thomas, and give us a chance to get straight without you."

Make all the old board resign and get some new men," shouted arother share- holder."

1

This interjection was followed by lond cheers and counter-cheers.

Another shareholder declared that, al- mast an entirely new staff was required if the business was to be a success.

Wonderful

Programme

Another TO-DAY at THE QUEEN'S

A 2.30, 5.15, 7.15 & 9.15 pm.

SAMUEL GOLDWYN

י

PRESENTS

HIS SCINTILLATING EXOTIC COMEDY

A THIEF IN PARADISE

-

TOGETHER WITH

Miss GLADYS CARFIELD THE GIRL WITH THE GOLDEN VOICE.

AND

FROM CAKEWALK TO JAZZ

TO-DAY AND TO-MORROW

BY

QUEEN'S ORCHESTRA.

WORLD

LEWIS STONE

IN

5.15 AND

9.15 ONLY

WHY MEN LEAVE HOME

A FIRST

NATIONAL ATTRACTION.

GIRL WHO RAN A HUGE

BUSINESS.

SECRETARY.

HONGKONG STOCK EXCHANGE,

CLOSING · QUOTATIONS,

August 14th, 1986.

Hongkong Bank $1,100 buy.

Dow

On the advice of the legal adviser of £10,000 BEQUEST FOR A LONDON' the company, Sir Charles Russell, the chairman refused to put the amendment to the report and balance sheet, which "I SHALL JUST GO ON WITH MY Chartered Bank201 bay. were finally carried after a stormy scene and calis for a count. DIRECTORS' RE-ELECTION TUSSLE

-

The re-election of one of the directors, Mr. Alfred Bowker, was also opposed by a number of shareholders, who called out,Sack him as an example to the others if we can't get rid of the lot."

On being put to the vote, however, Mr. Bowker's re-election was carried by a small majority.

Other shareholders demanded the ap pointment of a shareholders' committee af inquiry, but this was not put to the

vote.

SIR JOHN FERGUSON AND REORGANISATION."

Earlier, in reviewing at Sir Thomas's is largely due to the absence of coal invitation the balance-sheet, Sir.. John shipments to overseas destinations Fo-Ferguson said the directors were under- lowing the stoppage in the mines on April going considerable anxiety owing to the Both, since which date production has large drop in the profits of the comnary. beed almost entirely suspended, coal ex- In the short time he had been asso- ports were speedily reduced, and ship-ciated with the company he had not been ments have only been permitted by the able to collect all the figures which would Government in exceptional circumstances, enable him to put forward a scheme for During May, imports of coal from abroad the reorganisation of the company, but were of a negligible amount but, during he might tell them that management and June, arrivals have been on a consider other expenses were being considerably ably larger scale and the Secretary of curtailed and everything had been doce Mines stated in the House of Commons to put the company on a sound basis, on June 29th that between May 1st and

The company was twofold. It had ita June 24th, approximately 565,000 tons of retail organisation and was also a pro- foreign coal had been received, while ducing company, and it was necessary to active chartering of tonzage for the get the correct balance of these two sides transport of coal to this country from of the concern. foreign sources has recently been re- ported.

}

COAL PRODUCTION IN GREAT BETTAIN.

Tona, 287,000,000 287,000,000 944,000,000

1013

· 1924

1925

1926 (Total to May 1st) 80,000,000 COTTON PIECE-GOODS

Sir Thomas Lipton, expressing his great regret at the company's position," said it bad meant a very serious financial loss to him personally as he had never sold one of his shares since the beginning of the company.

SIR THOMAS'S LOSS.

to its former state of prosperit.

WORK."

A London girl who worked her way up from the bottom of the ladder in the business world till she reached a posi- tion involving control of a huge or ganisation has just won the reward of her industry in the form of a bequest of £10,000 from her late employer while she is still in her twenties.

She is Miss D. K. Hearn, whose home: is at Boveney-road, Honor Oak, S.E. Her late employer, Mr. E. A. Graham, was the well-known electrical engineer, who left £140,000.

ACTED AS DEPUTY.

In the will of Mr. Graham, appears a sum of £10,000 bequeathed to Miss Hearn for her long and loyal services in the capacity of private secretary.

London189 nom.

Mercantile Bank, A. & B......£30 nom.

Do.,

U......£13 nom.

294 buy. 38+ bay. $650 sel. $120 buy.

P. & O. Bank Fast Asia Bank

Canton Insurance.......... China Underwriters....... North China Insurance ... Tl. 145 mon.. Unien Insurance $989 tel *****...... 33 bay. Yangtze Insurance, Chi Fire marsace $200 bay. Bongkong Fire insurance ...$640 nom. Douglas

$25 buy HR, U. & l. diesboats ...$25) nom. Hongkong Tuga.....31) 20

$30 nom. Indo-Chinas (ref.)

:$40 nom.

Do... (Del), Shell Transports Star Feren... Waterboats

Chins Bugars Malabon Sugars

Kailan Mining Ad. Bengueta.......... Langkate (combined) I was with Mr. Graham for thirteen. (ingle) years," Miss Hearn told the Evening Shangba Explora

"and during Shanghai Loans Standard representative,

Tronoh Mines

that time I worked my way up sedile porn from the very bottom of the ladder.

"I went to him with everything to Ural Caspian ....... learn, yet before His death I was not HK & K Wharf...... only his confidential private secretary, BK & W. Dooks.. but I was his deputy in his sheence. Hongkews............. "He was proprietor and manager of New Engineerings...... the company, and inventor as well. In Shangliai Docks....... his absence I had full authority to deal

Hotels with all matters relating to the business Hongkong Lands of the firm and to act for him in every langhong Realty (f.p.),

H.K. Territorials H.K. Developments..... Humphreys Estates. Prince's Building ............................ Rural Lands

way:

Now that he is gone I am remaining in my old position for the present at any rate.

NO HOLIDAY.

The legacy will make no great differ ence to me. I do not intend to take a out-of-the-way celebration.

Cortons..........

88/- 0.

307 sal

134

доп.

324 61.. $36 bay. $1 nom 40+ nom. TL, 23 bay. Tis, 12 20

215, of nom. The. ? nor

1.841 com.

.67% buy. .8/-nom..

..$110 nom.

$54 DOM 712 171 buy. Tla 5,90 bay. Thr19 buy. $107 vol..

$2) Day., 8 vel $5 sel .to cts. sol. ..$13.60 za... ..389 sal: ...!} buy. ..ID). W.15 bay.

Orientals shanghai Cotton (old) ....Tia, 62 buy. (new)......Tl=27 buy,

- Do Оліта Вака Hongkong Tramways Peak Trams (eld),

Do.

(new)

Tan

IK

China: Providenti

The 10 bay. $24.nom.

$16 buy. ...$6.60.nom.

10/8 bay 12/ sel

10 buy.

15h sel

$6.201 ....$65 sel.

35 nom.

Dairy Farms...........15 oz. Der A Wing Hongkong Mlectrica ....... Macao Electrics IHK. Bopes (combined)

Do. (old)

(new).

I shall just go on with my work and live here quietly with my mother.

I am proud to be a Londen girl, and a South London girl born and bred. have always lived here at Honor Oak, and I went to school at Redinga College. in Peckham

528 Bel

..$10 FOL..

45.sel

I found no difficulty in becoming more and more acquainted with business affairs until I actually acquired control

Not only was I able to serve Mr.. Graham in a secretarial_capacity and an administrative one, but I also helped him considerably in his experimental work.

"In the research which he conducted- Sir Thomas said while frankly ad- mitting that the results of the paat year in his special laboratories I was his Singapors Tractions...... had been most disappointing, in many assistant, and in my training and prac In spite of the dislocation resulting directions the company's operations had tice I acquired familiarity with the scient from the industrial situation, exports of een satisfactory. The business was tific details necessary for the develop- Canto cotton piece-goods in May, although ap-sound at the core and with energetic and ment of the telephone, in the special way Cements (combined)

(old) 1 preciably less than in the corresponding capable handling would be brought back in which he developed it.

Do.. .. (now) onth a yeary.ago, were substantially

China Laghts (combined)....$19 buy. greater than in April, 1926: This im

I understand this business he said,

Do. (old) išg nom. provement is more striking-in-view-of

$11 nem. the sharp fall in shipments to China, as well as any man can. It represents

$5.30 bay. 10,391,900 square yards being despatched my life's work, and it is my intention to to that country in May, compared with ses it restored to its former position in Continental holiday or indulge in any | Constructions 24 mom. 16,612,000 square yards in the preceding the trade before long. I am prepared to month and with 13,204,300 square yards sacrifice all ideas of rest and recreation in order that the business which bears in May, 1025. Demand for China bas, on the whole, continued quiet throughout my name shall regain and retain its June, and the failure of that market to wonted position.". show any substantial recovery is one of“ FREE-HAND!! URGED. the principal factors responsible for the

Mr. T. Day congratulated the directors: continued depression in the industry,

in on acquiring such an eminent colleague Exports of piece-goods to India May, however, were appreciably higher, as Sir John Ferguson, but it would be amounting to 129,981,200 square yards impossible, he said, even for Sir John' to valued at £2,783,502, compared with succeed unless he had a perfectly frea -109,063,400 square yards valued at hand in making any changes he consider

£2,730,021 in May, 1925, and with ed necessary in the organisation of the 314,672,800 square yards valued at Company's business. £2,447,222 in April, 1926. In recent Mr. Howard and the report was the weeks, the shortage of fuel supplica has worst they had ever had. Their com- necessitated a curtailment of activities petitors had had a very successful year. in certain directions, and on June 8th, the What their competitors could do surely Federation of Master Cotton Spinners they were in a position to do. Mr. Associations decided to recommend all Johnston said it was no use talking about spinners of American cotton to close their industrial depression as the cause of their mills during the week onded June 19th troubles. Industrial depression had as- and afterwards to work alternate weeks sisted some of their competitors.. during the continuance of the coal dis puto. The recommendation has been generally adopted and, in effect, it in volves a reduction in average working hours per week from 25 to 34. as, during the weeks when the mills will be operat ing, the full normal 48 hours will be worked

.3 "

Sir Thomas had done his best, but the time had come to give way to young men with "new ideas.

!

"We ought to call upon him to resign his active control of this company, and Sir John Ferguson ought to have a per fectly free band.

A shareholder: A now board.

Then I trained for a business career, and eventually went to Mr. Graham,"

Miss Hearn is inclined to thoughtful

Mrs Graham, discussing the bequest, Pursuits and has little time for sport. paid a tribute to Miss Hearn's work on behalf of her husband. She was a very valued servant," she said, “and during my husband's illness was in charge of the business"

EXCHANGE RATES.

[MATTISH WIRELESS SERVICE. |

RUGBY, August 13th.

Paris

·Brussels Amsterdam Berlin

Copenagen Vienna

Helsingfore

Jane Crawfords........... Mackintoshs...

Dued Asbestos. Watsons (old), Wm. Powell.

Lay-buyers

Lisbon Buenos aires Shanghai Yokohama

New York Geneva

Madria

#81 now. $19 nom

311 nom. $20 nom. ..$134 nom. $61 num.

2.17/32

45.5/16 2/01

1/11.21/32

4.86.13/18

25.14.

Milan

148

Stockholm

18.143

178

Dalo

22.142

180

Prague

164:

12.11

31.861

20:40)

Rio

7.37/64

18.27

Bombay

1/5.2/22

34.37

Hongkong

2/2

Silver (apot)

*28*

Silver (forward)

28.11/16

193 (Continued at foot of meat Oolumn.)