1927-10-12 — Page 2

Page

THE HONG KONG DAILY PRESS,

THE TWO LEADING BRANDS

ON THE MARKET

FIRST STILL

1627

300 Years

STILL FIRST

1927

it's stood the test, And still of whiskies is the best; Tis "Scotch" but that's a trifle vague—... To get the BEST SCOTCH call for

"HAIG"!

J & C 17 TAMALLER, MARENCİ, SUPEARS

SOLE AGENTS:

GANDE, PRICE & CO., LTD.,

St. George's Building, Ice House St.

Tel. C. 135.

[193

GREEN ISLAND CEMENT CO., LTD.

At PROP

Best Portland Cement.

SHEWAN, TOMES & CO.

香

GENERAL MANAGERS,

"

HONGKONG.

Horlick's keeps for years in all climates the aroma and flavour are clways grateful

to Infants, Invalids or Aged. It never becomes

rancid like many ordinary milk powders

owing to the Conserving effect of the glass bottle

aroma maltose-dextrins and the sealed

HORLICK'S

MALTED MILK

and

Horlicks is particularly grateful to the Flavort

Chinese sense of taste and smell.

To the ancients the odour of malt

was so acceptable that the above

character for aroma or sweet taste

was actually a pictogram of mulled

grain with the Water Sweetness shewn

味

Representative-Mr. H. M. HODGES, PO. Box 1373, Shaoghal.

THE NAVY'S CHOICE

Coales

ORIGINAD

PLYMOUTH GIN

OBTAINABLE EVERYWHERE.

When she needs # touch of colour

she uses

WHAZELINE

(Trade Mark)

The Woman who

motors

knows the value of

HAZELINE

ROSE FROST"

# 4571.

(Tenda Mark)

SNOW"

...

Applied to the face before starting, it prevents dust entering the pores of the skin. On arrival, another application removes all traces of the journey.

Both in glass pots" All Chemists and Stores

BURROUGHS WELLCOME & CO. (PROPRIETO In The WellURMI FOUNDATION LTD., Laneum. Xac.)

LONDON, AND SHANGHAJ

All Rights Res

WEDNESDAY, OCTOBER 12th, 1927.

CHINA UNDERWRITERS, LTD.

PROPOSED CHANGES IN ARTICLES OF ASSOCIATION.

COMPANY TO BE CONTROLLED BY BOARD OF DIRECTORS.

SHEWAN, TOMES & CO. VOLUNTARILY SURRENDER LEGAL RIGHTS AS GENERAL MANAGERS.

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

Oct 11, Iwa7." A. Bank www...........$1,139 von.

Londonfiel nom. Do Chartered Bank... nom. Mercantile Bank, A. AB... nom. C£13, nom.

Do..

P. & O. Bank

East Asia Bank

.....£ity num.

8370 Dont.

Canton Insurance........$50 DON

China Underwriter.1.35 nom

North China ina.

Union Insurance ....

„Fla.. 143 noi,

Saul, do if.$++; bay. buy.

Yangtze Insurance..... Unius Fire Insurance......SJio

Da

་་་་་

333 bay.

Ai mel

not. 330 nom.

buy.

Hong Kong Fire Las.......590 nom. Steamboat...... Dongles HK Top

-TOE......... Lado-Chinas [Prof.),

(Def.) Shell Transporta Star Ferries Waterbunts.. China Sogar Malabon Sugar Bengueta... Kailan Mining Ad.. Langkat (combined). Do. (single! Sha. Explorations Shanghai Loan Raabe

As will be seen from the native This arrangement makes for effec- ative control and also far continuity in our advertisement columns meeting of the shareholders in which is very desirable from the China Underwriters, Ltd., will be Company's point of view. It is pro. held next month to consider, and if posed that the present Manager, be thought fit, to appreve articles of reappointed by the Directors.

With regard to (3) this was gone association.

into very carefully by the Consult Brietly the main objects of the ing Committee under the advice alterations proposed in the Metao-of the Company's Manager and

Actuary randum and Articles are as follows: that the commissions should not with a view to ensuring To vest the executive control embarnes the Compang, or restrict of the Company in a Board of its future operations, " » Directors elected by the share-

halders instead of in a firm as during the tera: of the agreement Tronoh Mines

The General Agents undertake

open market.

Ural Caspiana H.. & K. Wharfs Bangl

Letions

bar.

$17 nom.

$134.

..$50 Bel. „$1.65 nom.

યુગમાં ઠેસ

1. 17; som Tla. Dom. Th. 3 2001.

..$60 buy:

...19/3 nom. .....3;+ 101. $115 bay, 116

..$33 50.0

Shanghai Landa Hong Kong Realty

Tarnitorials Prines' Faildings.. Humphreys E-tates,. Kural Lands Kwo Orientals Shanghai Cottons (old)... (uw)...... China Bases B.K. Tramway ..... Peak Trams (old)

Do. Singapore Tractions

Do.

General Managera,

to place their own business with the -To reduce very considerably Company and to introduce as much &W, Dock.....

the scale of commissions pag-other business as possible, and the abin to the Firm who at pre-commissions payable thereon have

New Engineerings.. sent net as General Manager:jbeen reduced considerably as com

Shanghai Docks and who will after the passing pared with the old agreement and HK,IB. Hotel of these articles became Gene are a great deal lower than the | H.K. Lands ral Agents acting under the business would command in the Directors. 3.-To place a limit of ten years The commissions, on the General on the period of the appoint Business of the Company (other ment of the Firm as General than that introduced by the Firm) Agents so that at the end of as well as those on the Life, Busi ten years their emoluments ness have been drastically reduced cease altogether and they then and in fact terminate altogether at participate in the profits of the end of ten years. the Company in substitution In view of the fact that the Firm for drawing commission on took the responsibility for the Income.

flotation of the Company and gave up all the Insurance business and connections to the Company' it is proposed that when these commis sions cease they shall take a sub- stantial interest in the profits of the Company thereby sharing ns they obvious should in its success. In other words their interest bo- cornes, dependent on the success of the Company as a profit earning concern rather than on its incoine. If the Company does not make a Constructions profit they get nothing.

Commenting, upon these proposed changes the members of the Con- ulting Committee, Messrs. C. A. da Roza, C. P. Marsel, A. Cameron, Li The Fong, Mok Ching Kong and Tsang Foo, sar:-

In the first place the very enn. siderable concessions made by the firm of Shewan, Tomes & Co. by the alterations are purely voluntary, as the Company's present agree ment with the Firm is a binding one apart from the Articles of Associa tion, and cold not be nitered by the shareholders without the con- sut of the firm.

The amount of this interest is, of course, not à matter which affects the Policy holders Security or the Company's financial position and is question, of the distribution of profits between the shareholders

Tard's........LIKON

buy, Tl4.44 bay. 1ls. 92 buy.

118) pom..

113 sel.

hom

$150 buy,

$14 man. 11. 7.30 sal.

1.00 buy.

nor

Tis. $7 25. 10 buy."

Snom. $10 iny.

$14 ael.

12/6

KOKO.

1 Rom „$19; nom.

*

sel.

.COM.

Amusements Oton Icca Cements (combined)....$7

Do (bit) 16.60 Do. (new) ......$i

કાર્યો, China Lights (comb.) $12.nom. Do.. (old) ..........$9+ nom,

$i rom. $il com. 1315g nom.

36

China Proridents'.

Do. (new).....10‡ nom.

Der & Wings...... Dairy Farma..... H.K. Electrics..... Maceo Electrics..... H.K. Bow (old)

(<7) Lane Crawfords.. Mackintoshs.... Binceres....

United Asbestos ie

дош.

152 buy.

$43 nom. Jly uom $5 nom.

It keeps its shape without starch

WHI

TE Five Style Quarter

In

COLOURED

In Style it only

Si Five Desigua

TRADE

K

The special multi-ply fabric of the VAN HEUSEN Collar doesn't need starch to give it shape. Even so, it is always as smart as a starched collar. What is more, it can be washed and ironed of home- just like a handkerchief.

Ideal for Hor Climates

VAN HEUSEN

(SS)

TRADE SEAR

The world's most economical COLLAR

Entirely BRITISH MADE

PATENTED IN ALL COUNTRIES

Obtainable at all principal establishments in Hong Kong TXX YAN HEUSEN INTERNATIONAL CO Kinnaird Mousa, Pall Mall Exit, London, 5.W., England

Scale Style 13

Tryia da State 53

50 LT

Established 1914

Kelvinator

Electric Refrigeration

Cold

Absolutely

Automatio

$5 sel.

$8) nom.

12

sel.

Perfectly

..slią nom.

35.841

Reliable

Bales ;

Good for

A Lifetime

It may be mid that when the Agreement and Articles were enter ed into it was not foresen either and the. Firm. In order in all by the General Managers or by the the circumstances to arrive at a shareholders that their terma might | fair basis the matter W29 re- operate onerously on the Company ferred to Mr. Fleming. Chartered Watsons (old)..... and that the form of control was Accountant, of Messrs. Lowe, Bing-Wa. Powells..... unsuited to a Life Assurance Com ham & Matthews, who suggested Telephones,70 el. puy, but when this was realised in that it would be fair and reason- 'que. Indus. G.3 Bonds...5% buy. the early days of the Company the able in view of their interest and bay-bugos; 10).-oller; General Managera offered to modify in view of the very great conces- their rights so not to hamper the sions they have made that the Firm Company's progress, and an expert shall be entitled to pac-sixth of the opinion was taken in London on the total profits among shareholders subject as long ago.us May, 1024. and we are in agreement with this.

premium

com.--nominal.

EXCHANGE.

ULOSING QUOTATIONS,

On Leaos-

11.3

TH was thought inadvisable to Among the other alterations is ck any drastic change until the the introduction of clause 117 (b) the Company had developed somewhat which is a usual clause in further but in the meantime the Articles of Association. of a Life The parti- General Managers agreed to accep: Assurance Company. half the amount due to them unde: cipating policyholders contribute their agreement and in fac. have considerable extra received far less than they would profit loading thereby adding to the have drawn as, profits from their general security of the Company valuable Insurance Department and are naturally entitled to get which was turned over to the Com- back their contribution by way pany and which enabled the Combonus if the Company is prosperous. As the Company gets larger the pany to be formed.

number of participating policyhold With regard to (1) the new Articles provide for the election of ers gets greater and these extra contributions form the greater part Board of Directors and it is prof the Actuarial surplus; the profit, posed that the present Consulting Committee shall ferm the Brit derived from these cash payments' Ecard with the usual provisos for is not trading profit in the trus

aense. The percentage of 90 per Ox retiring in rotation at general meet-cent. of profits from Life business ings.

is a usual percentage provided for

October 11th, 1927,"

Telegraphio Tmaster.

--1/117 Rank Eills, on dosud "...1/1131,16 Bank

Hala, at 20 days' right Bank Bills, at 4 months'

sight

3:

1/11 Credit, at4 months' night 2/04 Documentary Bills,

months' sight

Or PA-

1,230

· Credits, 4 months'right' ... 3,295 NEW YORK.**

Frosty Dry

Costs little to operat e

All steel

exterior-

built like a bridge.

Finished with

white lacquer

the interior

of white

porcelain

Call at our office for a demonstration

REISS,

MASSEY & CO., LTD.

EXCHANGE BUILDING

... 9/04

Bank Bille, on demand

+

O

Back Bills, on demand Credits, at 60 days' sight...

48

Васк

Back Bilia, on demand... CALCUTTA

Telegraphic Transfer.

132

Telographic Transfer

The Sign of

ΤΗΣ ADVERTISING

Os

SHANGRAL

731

and PUBLICITY BUREAU

The Consulting Committee feel and under Canadian Law this per- Ox that in shouldering the greater ventage is a compulsery one. This Directors they safeguard in participating policies responsibility as should have under the Articles the is. moreover, an asset is the ac right to have always a technical quisition of new business. Insurance Expert as Manager of the Company directly acting under their instructions responsible to them, and appointed by them on a short term agreement not exceeding fire

years..

It is provided that the General Agents and the Manager net jointly under the instructions of the Board.

As the above modifications are all in favour of the Company we feel sure that you will give them your unanimous support and we feel that the attitude of the General Manag- ers in giving up their legal rights will be appreciated as evidence of their sincere desire to strengthen the foundations of the Company..

guilty of offences such as dangerous driving, for which they may be un- wittingly responsible, when suffer. ing from mental and physical dis turbances.

Bank Bile on demand...} 132

Bank Bill, at

Privats, 30 sight

days sight... Or YoxoRA-On demand... 1024

MANILA-On demand ON SINGAPORE-On demand...

ON MANILA.

85 119

Dom

941

ON BATAVIA,On demand ON HAIPHONG.—On demand. Os SAIGON-Ou demud ON BANGKOK-On demand BOTEZIIGH, Book'e Buying rate $9.30 GOLD LEAY, 100 foe, per tael... HAR SILVER, per oz.

25 12/18

EXCHANGE RATES.

[RITISH WIEZLEAS SERVICE.]

Ryosy, October 10th.

124 4.87.3/32 31.97

Paris New York ......... Brussels Geneva Amsterdam

ILLNESS NO DEFENCE.

LAW OF DANGEROUS DRIVING.

Loe Physical State. « IMPORTANT COURT RULING.

The ease which produced this ru ing is one where Dr. William D. Motorists are confronted, under Lawton, of Manchester, was sum. the law as it stands at present, with moned for driving his motor-car is a serious problem, according to

a manner dangerous to the pubile the Local Government Journal, He had previously been acquitted which states that "a person who of a charge of ixing drunk when chooses to drive a car in such a driving a motor-car, it having been condition of health that he is liable proved that he was in a low phys to be overcome commits an offence cal state following a.dental opera- if he is in fact overcome while tion. driving.

Prague and dangerous driving The theory was then propounded thereby resulta.

by the police that a person driving "It is no defence for the motorista motor-or must be responsible for any physicalformity which might or danger to

to say, I could not help it: I was

, or even unconscious, at the cause an act was not an-

other people,"

time, if he ought to have prevent ed it by refraining from driving." parent when he began the journey

Motor-car driver, who are suscep- The far-reaching effect of the de- cision of the Manchester magistrate tible to physical conditions over which they have no control may, has provoked the question in the "Is it according to Mr. J. Wellesley Orr, minds of many motorists:

drive to the Manchester magistrate, be bold, safe

ין

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in

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...that being independent,

35.25

Milan

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18.08

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18.46

Vienna

34.50

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1031

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97.80!

can place all this know- ledge and experience at the

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2:7/16 367)

Bucharest .....

783

Rio

Buenos Aires

Bombay

Yokohama

1/620/53 1/10 20/32

Silver (spot and for-

ward;

25 13/16

5 15/32 47 51/04

TEL. C. 376

MARTIN'S

PILLS

APIOL & STEEL Sure and certain for all Female complaints.Every lady should keep a box in the house.

Chemists and Stores sell them throughout the world,

Proprietor MARTIN, Chm, Soathanglam, Kayland,

OVER HALF A CENTURY REPUTATION

LIVER KIDNEYS ♬| INVALUABLE FOR Diskm ́bi_Mu009 SMPORTANT ORANG, GRATES, Bacades, 100, SHRINETIÊN, Pame: Leting Dustines, our For Fire, SP, KAMOLI KOND, Go, asook BS M.W.

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· On Bale at:

"HONG KONG DAILY Paz" Offics.