1930-02-06 — Page 7

GREEN ISLAND CEMENT CO. MEETING.

(CONTINUED FROM PAGE 6.)

forced upon me that commercial morality in Hong Kong is doomed and a

Threatened with Extinction... Company. I fail to soo how share

holders can equitably negative such Then it was that a nascent indus

a proposal. I venture to think it try of so much potential value was would be monstrous if we did. And threatened with total extinction.if we did, then the conclusion is Messrs. Arnhold Karberg & Co. signed the annual report for the last time in 1808. The report for the following year bore the signature of Messrs. Shewan & Co., the original of Messrs. Shawan,

name

gentlemen's agreement must be considered a delusion and a share. I refuse to think that the mercantile community of this Colony will invite the opprobrium that should be fully merited if, at the same time as they remove the general managership of the Green Island Cement Co., Ltd., from Messrs. Shewan, Tomes & Co., they resolutely set their face against a claim that, to my mind, can be established in equity and substan. tiatei in law. If they did, then the finger of scorn can be justly pointed at us, and it should be difficult for us to overcome the derision.

THE HONG KONG DAILY PRESS, THURSDAY, FEBRUARY 6, 1930,

" WOMAN'S PLACE IN "THE WORLD.”

HALL.

·A·Fallacions Argument. The requisitionists of this meet- ing in their circular dated November 18, 1920, arid addressed to the share- holders of the Company, in support

the appointment of new General LECTURE IN ST. PATRICK'S Managers, stato "(inter alia) that such appointment is desirable for the reason that it is considered that the Board of Directors, acting alone, would not be in a position to devote to the company that amount of care and attention which is so essential to manufacturing con- corn.

On this debatable question it appears advisable for me to point out that. if the arguments so put forward are to carry the weight which is attributed to them, then similar arguments must apply to the very many

mpanies, not only in Hong Kong, ut elsewhere, as it is a matter of common knowledge that even in London, leading companies to-day are in an identical position ris-a-vis the constitution of their In theso respective directorates. circumstances. I feel that an argu ment based upon the assumption that, because the present members of the Board, are also Directors of a nuraber of other local companies, this company should suffer as a re- suit, is fallacious. Moreover, whilst I am naturally averse from offering for your consideration anything in

Father Gallagher, S.J., lecturing in St. Patrick's Hall yesterday on Woman: her place and influence in the world," said that his subject was in some ways a controversial one. The first tremors of the Woman's Question began in the, 17th century, but the real movement The whole move- began in 1964. ment had been called feminism; the idea was, however, rather a neutralising ideal than feminism.

The suffrage movement set out to Iree woman from her disabilities, but its leaders went further, and wanted to make woman the equal That was in all things of man.

wrong.

HAICHING CASE ENDS.

TWO MEN COMMITTED FOR TRIAL,

́SECOND ACCUSED

DISCHARGED.

.Tho fengthy proceedings at Cen tral Magistracy in connection with the Haiching affray concluded yes" terday, when two of the prisoners were committed for trial, and, one was discharged.

firm Tomes & Co., the present general managers. The firm was founded by the senior partner, Mr. Robert Gordon Shewan. Mr. Shewan is still at the head of his firm, I am happy to nay, and enjoying his usual robust health and, with his alert mind, in spite of his years, uli-

I remain to be convinced by any batentatiously giving of his best in

argament advanced against compen- foresight, ripe judgment, and ex-ution. The mover of the original perience, and brilliant talent in the resolution has contributed nothing industrial service of this Colony. to enlighten us as to the motives of When the effort to float new the authors of the resolution,, who, capital failed, Mr. Shewan ap-curiously enough, are conspicuous by the nature of an eulogy of the pre

their absence. So far as I am persent Board, it does appear requisite there was a better understanding by a Chinese, interpreter, who was

the

proached" air. Kramar, manager a! Arnhold, Karberg and Com- gtay, for his (Mr. Shewan's firm) to take over the management of the Cement Company. These two gentlemen were close friends. Mr. Shewan was advised that "there was nothing in it. Mr. Kramar was sick of it. Nothing daunted, however, Mr. Shewan, in his ability to dip. fur into the future, "dreamt dreams" and, far as the human eye could see. тіякол of a prosperous Kowloon. now made still more prosperous by reason of its industrial enterprisce, fostered and developed by the pro- gressive policy of a helpful adminis tration. Mr. Kramar required of Mr. Shewan the reimburstment of a sum of $50,000, and the guarnatee of an overdraft with the Hong Kong and Shanghai Bank of $40,000. So, even in those early days, with the experimental cement industry in Hong Kong, or rather at Macao, in its death throes, the then general managers had to be reimbursed to the extent of $30,000. Mr. Shewan nccepted Mr. Kramer's terms, und the re-birth of a key industry of such incalculable benefit to Hong Kong had its beginning. In 1996, for the first time also, the name of the lato Sir (then Mr.) Paul Chater appeared as a Director.

را

soully concerned, the arguments for me to inform you that during the an exceedingly contained in their circular, have past four years made no impression on me, excepting heavy volume of work has been car that they leave me more convinced ried out by the Board, and that as a result, your Company is to-day than ever that the case for and not against compensation remains un- in the position of having ready to shaken and incontervertible. (Loadband a strong programme of deve- lopment based upon a centralisation applause.)

of its manufacturing plant at Hok- Un, in which connection a most favourable contract, both financially and otherwise, has been placed with the well known firm of Messrs. Vickers Armstrongs, Ltd., which con- tract, when completed, will furnish the Company with the most modern The Chairman then said:

cement producing plant in the Far East, and, having regard to the We now come to the second resolu.inct that the financial arrangements tion which reads: ---

ia connection therewith are based

I therefore second the chairman's amendment.

The amendment when put to the meeting was carried hem-con.

SECOND RESOLUTION NOT

PROPOSED..

That Mesara, Gill, Livingston &Co., Ltd. of Victoria in the Colony of Hong Kong, be an pointed the General Managers of the business of the Compang with a remuneration of $1,000 per month' and a commission of 2 per cent. On the anual balanes of the working account of the year to be taken before any allow ance or deduction has been made from such working account for depreciation of property, rents, buildings, machinery and stocks of goods and materiais of any kind,” and which I will again ask one of the requisitionists to proposer

Mr. Davidson: Sir, as I hold proxies for the requisitionists, would in the ordinary course have proposed this resolution, but, as you have been good enough to allow Mr. Tinson and myself to scrutinise the proxies, and it is therefore known to me that, although a substantial number of proxies have been lodged in support of this resolution, there are not sufficient to make the majority which is required to pass this resolution, I think it would be a waste of time if I propose it, and therefore I will not do so.

upon the principle of payment against performance," your Com- pany is duly safeguarded in the matter of the satisfactory operation of the plant, as the onus therefor devolves upon the contractor I may here add, that 60 per cent. of the contract price of this new instal lation will not be payable until the plant is in production up to the specification standard, and that 40 per cent. thereof will be withheld covering various periods up to one year thereafter. Incidental

s it may intereat you to learn · that your Board hna effected exchange contracte in re- iation to the above installation which show a saving, on the present level of exchange, of some five lakhs of dollars. (Applause.) Whilst on the subject of policy, I may add that your Board took steps some two years ago to close down the Deep Water Bay Brick Works, which had, for many years, been & source of steady loss to the Com- pany.

la all non-Christian nations, went on the lecturer, the position of women is entirely subordinate. She seems to have been made merely for man and for no other purpose That was true of ancient Rome, Greece, and to a lessor extent, of Ancient Egypt. Among the Jews, of woman's rights.

The teaching of our Lord changed the position of women. The Grat thing we did was to restore mona- Famous marriage. Marriage be wame & partnership, and a sacri ment. He did away with divorce, and marriage became an indisoluble union between ОДВ man and one wife.

"Woman stande morally before God on a par with man," said the speaker, "but I did not say that men and women were equal?

He then went on to describe the duties and obligations of woman- hood, and to compare their work in other spheres than that of the home with that of men.

Owing to pressure of space we are not able to go" into the details of Father Gallagher's lecture to- day, but the full text will appear in our issue of Friday.

further intimate that I believe it. to be the considered view of the

general body of shareholders of this company (and I here wish to make' it clear that my reference are solely directed to the matter of General Managers r/s-- the interests of this particular company) that the

company's best interests can not be served by continuing a form of ad- ministration which entrenches the General Managers by the Articles of Association without any quid pru quo, in the nature of a substan- tial financial holding in the Com pany and/or an undertaking to material portion of the Company's guarantee a regular outlet of any manufactured producte.

Tribute to Board.

Hok Un Site Acquired 1897, With the admission of Mr. C.-A. Tomes as partner, the firm name of Shewan & Co., was changed to Shewan, Tomes & Co., and ever since 1807 the signature of Shevan, Co. has appeared on every Tomes annual report. In 1807 it was found desirable to considerably, increase

It is with pleasure, therefore, that the output, and a large and valu-

I announce that the views of the able site was aequired at Hok Un, Kowloon. The area of the Works

Directors are shared by a large A further point upon which the body of shareholders as recorded is 1,120,576 sq. ft. It is recorded in

requisitionists have laid stress, as by the proxies filed with the com. the report for 1898 that the New

justifying the appointment of an-pany. Some of you have informed Works at Hok Un were making good

other firm na General Managers, me of your intention to address the progress; the site was all levelled The Chairman: Although the concerns the merits claimed in rea meeting, and we shall be glad of and reday for commencing founda- resolution, which you have just peet of the relative saving to be your views. tions." The wurks were completed in heard read, will not be before the effected by the company in conse 1590, cement produced in November meeting in view of the statement quence of the ostensibly lower scule of that year, and sales from Hok made by Mr. Davidson, I think it remuneration proposed. In this Un began at the beginning of 1900. is desirable to review the events relation, and as a matter of interest, We read in the report for 1904 that leading up to its proposal. TheI have had prepared an estimate of the increased consumption, ea- circular dated November 13 last, the cost to which the company pecially in this Codony, has kept which I have previously referred to, would be put by the proposals set pace with our enlarged facilities for fully sets out the views of the Board forth, computation for the purpose production."

A further extension on this matter, and your Directors of such estimate having been based the factory was effected in 1905.

see no reason to alter those views, on an average of the company's Notwithstanding large additions to particularly as they are firmly of profts during the five years im plant, both factories kept at full the opinion that it would be a re-mediately preceding the year 1828, pressure. This was the gratifying trogride step in the history of the such years being in the nature of statement appearing in the com- company to appoint further General normal years and therefore up to pany's report for 1907.

Managers. Shareholders will doubt- the standard to which we at least less recollect that at the last annual hope again to attain on completion general meeting a shareholder sug of the new installation. On this gested that the General Managers' basis, the proposed scale of 2 per commission should be reduced só as cent. plus a fixed charge of 31,000 to make such commission commen per month, would in effect, saddle surate with the net profits earned the Company with an expenditure

It appears to me unnecessary retrace, the history of the financial position of the Company. It has been given in detail in the state ment accompanying Messrs. Sha- wan, Tomes & Co.'s circular letter to shareholders of November last. I will summarize that statement in

a few lines dating from the time when Messrs. Shewan, Tomes & Co. took over the management.

Paid-up capital:--

$ 200,000 271,678

In 1905

1887

1808

350,797

1800

499,812

1900

908,0-10

1003

1,000,000

1303

1006

1907

1017

1924

1,500,000 2,000,000 4,000,000 3,000,000 3,400,000

by the company. Your Directors, of $40,000 per annum, in return for after much careful thought, and havwhich my Board fail to see that the ing in view the beat interests of company would receive any mate- the company, went beyond the sug- rially corresponding benefit. gestion made by deciding to endea vour to relieve the company alto- gether from the financial loud which

Mr. Joseph Gould: As I feel that, in a way, I am responsible for the reorganisation movement now in progress, because of what I said at the last annual meeting, may I be permitted to offer a few remarks

Sergeant C. Mottram gave evid- ence to the effect that there were 10 Chinese males, presumably pas- sengers from the s.. Haiching, on board H.M.S. Sterling. Witness said that eight of them were wound- ed and that the second defendant, Chan Ma Ying, was one of the other thirty two men he handed over to the police.

This evidence" was

corroborated

one of the party accompanying the previous witness in his investiga- tions. The Crown case then clased:

The brat accused, Lam Hing, said that he would make a statement when he appeared in the Supreme Court. He meationed the names of three witnesses ho wished to called from Shataukok in Chinese terri tory. Two of these men had been traced by the police and were pro- duced in Court.

A statement made by the second accused, Chan Ma Ying, was this cffect:"I was a passenger on board the Hajching. I did not commit any crime. I went to the main deck as I was frightened of the noise. I jumped overboard and was rescued by a boat and placed on hoard a man-of-war."

Taira Accused's Request. The third accused, Lam Ming. who was the wounded prisoner, also reserved his defence until be came before the higher Court, adding: "I am hungry and cannot speak; will be allowed to speak in the Supreme Court?" "

Hamilton): Yes, you can make any The Magistrate (Mr. E. V.

statement you like in the Supreme Court, and you will be defended by

barrister..

not

His Worship said he was satisfied that the evidence against the second accused was strong en- ough to justify a committal to the Criminal Sessions on the charges of piracy and murder. Prisoner would therefore be discharged.

The first and third accused were committed for trial at the February Criminal Sessions on all three charges-murder of Mr. F. K. Wood- ward and the Indian guard Kbail Singh, and piracy.

A WATCHMAN'S LICENCE.

INTERESTING CASE IN

KOWLOON.

in regard to what has already been MUST HE CARRY IT ALWAYS ? achieved by the Board, as disclosed in the Chairman's speech. Before doing so, however, it seems only right and proper that we, who are what I might term of the opposition camp on the second. resolution, should express our appreciation to the sponsors of that resolution for withdrawing it, and by refraining from pressing it to a vote. By so doing, they have rendered it possible for this meeting to be conducted in an atmosphere of harmony and friendliness, and to that extent we

owe them our thanks.

Now, Gentlemen, you have heard the Chairman tell us, in his own A Most Excellent Staf

modest way, what the Board has Therefore, bearing in mind the recently achieved in the domain of the maintenance, of the office of fact that the company has a most finance and in the ordering of our General Managers would entail. In excellent technical and executive

new plant. By acting promptly, arriving at this decision it was, and staff, and that your Directors are they have saved us in the one case is, the considered view of the Board not only fully cognisant of the dif about half a million on exchange, that the company is committed ficulties which have arisen in the

and in the other; by inserting a under the present regime to an past, but also alive to the poss. vital proviso in the contract that expensive form of administration ibilities of the future, they feel they

"payment is to be against perfor. offering no adequate advantage have placed before you ample justi-mance." That shows us the Board technically or commercially, and fication for stating that to anddle in a new light-It shows us a Board placing the company in the control the company with further General alive to its duties, it shows us a of two distinct bodies, whilst retain-Managers will be but to give effect Board taking keen and real interest And 89,943,447.93 has been paid ining for the Directors the entire ongs to.. the

continuance of a system in the welfare of the Company, but dividends by the Company managed of responsibility, in which regard which, in their carefully considered above all it shows us a Board not by Messrs. Shewan, Tomes & Co.; I desire to emphasise that, in the opinion, offers no advantages what-afraid to act when occasion requires. they took it over in 1805 when "it opinion of the Board the dual con- socver. Furthermore, Gentlemen, I Well, Gentlemen, they have made was moribund and certainly bank rupt, and as a business proposition it commended itself to no one." Such was the work of the General Managers that they earned for the shareholders no less & sum than nearly ten million dollars out of a moribuad company.

claim that the explanations which

have just given to you form a logical and conclusion answer to the reasons adduced as sponsoring fur the desired change.

most auspicuous beginning-let us hope that they will continue the good work.

to

An interesting case came before Mr. Whyte-Smith yesterday when a private Indian watchman had to answer a charge of not carrying his licency when he was off duty.

Hig Worship remarked that the man was not on duty at the time, and intimated that he throught the Regulation applied to a watchman when he was on duty only.

Sergt. Walsh told his Worship that watchmen must carry their licences at all times, regardless of whether they are on duty or other wise.

on

After referring to the Regula tions, which stated that watchmen had to have their licences on them the whole time, his Worship said it was a physical impossibility for them to carry them the whol time. He thought that what was meant by the Regulation was that they should carry their licences the whole time that they were duty, and not also whilst they were off duty.

Sergeant Walsh pointed out that the object was to prevent watchmen from taking their licenses to Can- ton, where they could be either used as a certificate of character or given away to somebody else. In the event of a licence being lost, the holder could obtain a duplicate on payment of 81.

trol of a company such as oure does not tend to secure the best results, either in the manufacture or the marketing of the company's product,

In conclusion, I should like to and, with regard to the foregoing

quote you some words spoken by position, I would point out that a Secing that what I have already Mr. Stanley Baldwin not long ago, close association between the mem- stated is the considered view of

an assembly of manufacturers bers of the Board, and what I may the Directors, and that as the and business men at Glasgow. Mr. term the executive personnel of the result thereof they are Booking a Baldwin warned his hearers that if Addressing Mr. W. le Bart Spar-1 Deserve Well of Shareholders.

Company, must, so long as human separation of our interests from an they wished to retain their markets, row, who was present in Court, his The statement, as I have sub- nature is what it is, be a matter old established. firm, whose cbiel, there must be "retrenchment, re- Worship said he might, consider the mitted, contains nothing but bare of considerable difficulty, since the in the person of Mr. Shewan, has trenchment and agam retrench-point. He was inclined to think facts. To the unbiased and unpre- administrative heads must perforce always commanded with this Boardment." Well, Gentlemen, those that the Regulation meant that the judiced mind, the only conclusion to feel that their allegiance to the the high respect to which his ex-

words apply as truly hero as in licence had. to be carried while on be drawn from these facts in that General Managers is paramount; perience entitles him, I need hardly England, and I feel confident that duty. It was admitted that the de- Messrs. Showan, Tomes & Co. de consequently auch state of affaire say more regarding the proposal to our Directors will always bear them fendant in the present case was not serve well of shareholders, and in does not conduce to the attainment turn over the control of the com- in mind.

on duty, and he said he had left it our recognition of their servicon, of that collaboration between the pany's affairs to new General Man- The Chairman: Thank you, Mr. in his other jacket. the least we can do is to record at Directorate and the Executive which agera, who, however estimable they Gould. I am sure the Directors His Worship said he would ad- this meeting to-day an unmistak is essential to the conduct of the may be, can only come into a busi-will follow Mr. Baldwin's advice journ the case for one week and un- able admission of their very strong business, of any company, let aloneness which is absolutely strange to (Laughter.) The next meeting will less the prosecution could produce and justifiable claim for full and one engaged in a manufacturing, in them Whilst on this point, I may be on the 20th of this month at 10.30 some: authority on the point, be adequate compensation from the dustry.

(Continued on next Column.)

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