1930-03-27 — Page 6

Underwear

that looks and

feels like silk.

Made of artificial silk and cotton in a fine knit which has

a luxurious appearance and is delightfully cool in

"wear.

The vests have" French necks and loose quarter sleeves, Trunk Drawers in

2

new athletic style and combination suits with short legs-all in Sky Blue, Nude and Cream.

AERTEX CELLULAR

Shirts Underwear Pyjamas.

Mackintosh's

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mighty vessels

ASAMA MARU

+3

popular ships TAIYO MARU TENYO MARU TATSUTA MARU) (SHINYO MARU

CHICHIBU MARU

N.Y.K. LINE

Six specialists in an exacting trade Ships and men exclusively Orient-California

THE SILK EXPRESS TO AMERICA VIA HONOLULU

WORTH POLEISH

Mr. Vandyke Brown, to relieve

the monotony of life at the Pole,

„plays a practical joke and thereby advertises, a famous Boot Polish

“NUGGET" polishes the shoes

of the World

UNEQUALLED

BOOT POLISH,

THE HONG KONG DAILY PRESS, THURSDAY, MARCH 27, 1930.

HONG KONG FIRE INSURANCE CO.

ONE OF THE COMPANY'S BEST YEARS.

PREMIUM, INCOME A RECORD.

The Hong Kong Fire Insurance Company held their 61st Ordinary Meeting at No. 18, Pedder Street yesterday at 12 noon. Mr. B. D. F. Beith presided and supporting him were Sir Robert Ho Tung, Messrs. C. Bernard Brown, Dunbar, T. E. Pearce (Consulting Commitico) and Mr. F. C. Hall (Secretary). Shareholders present were Messrs. J. H. Taggart, J. P. Sherry, Lo Man Hin, C. S. medios, J. H. Seth and E. Raymond.

ROPE MANUFACTURING "COMPANY.

NET PROFIT OF $88,000

A SHAREHOLDER'S PLAINT,

MUSIC AND DANCE.

ANOFORTE RECITAL AT

H.M.I.

The following is the programme. of the pinho recital which will be. given at the Helena May Institate: on Thursday, April 3, at 5.30 p.m.

The concert has been arranged by Mr. Harry Ore who will under- take the whole programme. An interesting feature is that Mies Winifred Henderson will give a series of dances, expressive of the musical items.

ich

Programme."

1-3 Variations in C Minor

Beethoven. Dance Solo: "The Autumn,"

Music by Chaminade 3-Second Sonata Chopin.

The forty-sixth ordinary general meeting of shareholders of the Hong Kong Rope Manufacturing Company was held at St. George's Building yesterday at 11.30 am Mr. R. G. Shewan presided and was supported by Sir Robert Ho Tung, Hon. Mr. J. P. Braga, Mr. J. Scott Harston (Directors), and Mr. J Coulthart (Secretary) Sharehold ere present were: Messrs. Allan Keith, Kelly Sayce, H. Dreyer, A: Shields, J. Dick, A. A. Botelho, M. A. Figuerido, J. Toppin and F- J. Tavares

Following the adoption of the re-(a) Grave-Doppio movimento. Report and accounts, Mr. Kelly Sarce M. expressed dissatisfaction at share. holders having received no dividend during the last five years. thought that a small dividend. should have been paid and a smaller amount carried forward from last year's account. He added that the directors continued to re- reive their commissions even when no dividend was paid sharehold-

Apart from the Chairman's-Second Hungarian Rhapsody reply, Mr. Kelly Sayce's query brought forth a spirited retort from Mr. J. Scott Harston, who said that the directors had done their best and could not make bricks without

The Chairman said in the course of his speech that the premium income was the highest yet record ed. In spite of the exchange the past year had proved to be one of the best the Company had yet exers. perienced. The full report of his

peech follows:-

|

straw│

(b) Scherzo,

(e) Marche Funèbre. (d) Presto..

He-Belzazar's Feast. Sibelius,

(a) Oriental Procession. (b) Solitude,

Chairman's Speech. "The Chairman addressing the meeting said:

(c) Night Music, (d) Khadra's Dance. 5-Pathetic Exude Scriabit. Operatic Dance Solo: "Love's Joy Music by Kreisler."

God Save the King.

Liszt,

Malaya, India and Java. Under present conditions, the Directors think it prudent to conserve the amount standing at credit of proft and loss account until trade gen. Gentlemen,-The total receipts erally shows more promising signs amount to $106,908:06 and after of a revival." It is a matter of deducting Directors' and Auditors' opinion. Your opinion is that we fees, depreciation, interest and should have paid a small dividend. commission to General Managers | ours is that it is better to conserve there remains a nett profit on work; ¦ our profite, D ing account of 888,778.30 for the Mr. Sayce remarked that while

rear.

CHAIRMAN'S SPEECH. The result of our operations under for the year 1928, now review, has again been success- ful, the account having ran off with a credit balance of $714,807.47. The premium incortie of $1,645,183.33 was the highest yet recorded and this is a satisfactory feature in view of present day conditions of trade all over the World. The rate of sterling exchange of 1/7, Transferring this amount to profit and loss account there is a balance at which "our accounts" are "shown,

at credit, of$170,502.98 which your has had

a very considerable bearing Directors recommend be carried on both these figures of Balance forward to credit of new account.. and Income. but even had it re-shows, & considerable falling off The profit on the year's working

mained round about a/- the account owing to reduced sales and increas in point would still have proved toed cost of output. Rents collected are lower by $7,708.48 owing to re- be the third best the Company has duction in the terms of the lease to yet experienced. The ratio of the Naval Authorities of Mataukok Losses is distinctly higher at 43.53 property. per cent, sa against 34.12 per cent. for 1027 while that for expenses is slightly less at 39.35 per cent, as against 39.88 per cent.. -

The balance. at

credit of the working account for 1020 14 $311,112.30 as against 8675,329,19 for 1928, after twelve months work- ing, a reduction of $164,213.83. The year 1829 proved to be a lean one for Fire Insurance Companies and the Anal outtare of our ne count cannot but be considerably less than of its three predecessors, Though it would be premature to hasard any opinion as to the final result, we have reason to hope for a final showing that will allow of the maintenance of dividend and the transfer of П substantial Amount to reserves.

The surplus to be "dealt with, at this meeting is 8714,207.47 and we recommend the payment of dividend at the increased figure of 347 per share, absorbing $376.000 the appropriation of £25,000 == $307,602.31 to Gold Reserve and the balance of 831,115.10£2,528.4.2 to Reinsurance Fund.

All our reserves are in a healthy condition, the only one calling for comment being the Investment and Exchange Fluctuation Account, this shows a shrinkage of approximate-

·ly £13,000-due to the fall in the market price of our Gold Invest- ments.

Position Encouraging. The total amount of rent collect ed for the Kennedy Town bouges was $31,930.70 as coinpared with 831,840.58 for 1928, and 317,423.22 for the Mataukok property, as com- 825,012.00 for 1928.

As regards the outlook for the much when dealing with present year I do not like to say fluctuating factors as Manila hemp such

and exchange, but I may say that the fall in silver should help our our sales so far are encouraging and

business with countries which work India and Java. Under present on a gold basis auch in Malayu,

conditions the. Directors think it prudent to conserve the amount standing at credit of profit and loss account until trade generally shows more promising signs of a revival.

I now beg to propose that, the be adopted and passed and recom report and accounts na submitted. mend that the amount of $170,502,98 be appropriated as follows To place to credit or typhoon and flood

..$ 5,000.00 To write off plant and machinery.

6,350.00 To carry forward to credit of next year's account

account

150,122.08.

The report and accounts were seconded by the Hon. Mr. J. P. Braga and unanimously adopted.

Sir Robert Ho Tung and Sir Elly Kadoorie were re-elected to the Board of Directors, The Company's auditors, Messrs. Linstead & Davis,

Fleming, were also re-elected for the ensuing year at a salary of $250. each per annum.

You will, I trust, approve of the usual bonus of 15 per cent. on their salarica being granted to the Staff,

I do not think there is anything further in the accounts which calls for special mention by me. ...and Messrs. Perey Smith, Seth a

As stated earlier in my speech the past year has been a poor one for Fire Insurance Companies, not by reason of any particularly severe conflagration but owing. rather to a continuous run of lossca throughout the twelve months. We must hope that the current year will show a marked improvement in respect of fire wastage and, to date, I think things are somewhat better." After the resolution, which I am now about to propose, has been duly seconded, I shall be pleased to answer to the best of my ability, Any questions which shareholders may wish to put.

I now propose the following re-

solution:****

"That the Report and Accounts as presented, including the payment of a dividend of 847 per share, an adition of £23,000-8307,092.31 to Sterling Reserve, the transfer of £2,023.2.2 - $31;115.10 to the credit of Reinsurance Fund, and the pay ment to the Stad of 15 per cent. upon their salaries, be adopted and passed."

The Report and Accounts were seconded by Mr. J. H. Taggart and carried unanimously, th

|

"I Do Not Received a Genti !- "Mr. Kelly Sayce: I would like to ask a question. Mr. Chairman and Directors of the Hong Kong Rope Manufacturing Company. In looking over the report and ac counts I find that the amount car ried forward is $159,122,08 which represents 76 per cent, of your capital account. Considering that the shareholders have not received. any dividend for the last five years,. don't you think it, would have been more reasonable to have considered the shareholders and given them small dividend and to have carrjed

lester amount forward? I was toid, in fact, that one of the direc- tors said last year that he would suggest that shareholders have: 25 cents a share, but to-day I am, sorry to hear, for the fifth year, that I do not receive a cent. I don't know what is wrong with the Company: and why they have done so badly, I think that if the Directors thought fit, they might have given: us a small dividend durnig the year.

Messrs. Love, Bingham & Mat- thews and Percy Smith, Seth & The Reason, Why. Fleming, were re-elected auditors for the ensuing, year. www

The re-election of Sir Robert Ho Tung, Mesars, O. Bernard Brown, A. H. Compton, L, Dunbar, T. E Pearce and A. H. White to be the Consulting Committee was carried on the proposal of Mr. A. P Sherry and seconded by J. Seth.

The Chairman There is nothing wrong with the Company. It is in a sound. position. The payment of a small dividend has been consider- ed and I mentioned in my speech that we have decided to conserve. 1 said “The fall in silver should help our business with countries. which work on a gold basis such is (Continued on next Column:),

the Directors had been receiving their commission no dividend bad been paid to shareholders.

The Chairman: I sympathise with you, but there is nothing wrong with "the Company.

Mr. Saycor Every year they tell us the same storyl

Mr. J. Scott Harston: The an- swer to your question is quite simple. If you are not satisfied with the Directors, turn them out! The Directors have done their hest. They can do no more! They cannot make bricks without strawl

Mr. Sayce: I am only esking for consideration for the small, shareholders.

Mr. Scott Harston: That is my answer to you. ;

HONGAY SMOKELESS EGGS COAL

FOR

HOUSEHOLD USE.

KEEP THE HOUSE CLEAN AND NEATI

NOTE: CHEAP PRICES

In lots of not less than half-ton; delivered to:-

FIE TON:

Peak District (above Bowen Road) $23.00 Bowen Road and Lower Levels .......... $21.00 Pokfulum Road

$28.00

Kowloon...

$18.00

Orders should be sent in writing, not by Telephone, at least 24 hours before the coal is required, and orders must be scoom- panied by cash, cheque, or con.pradore order payable to EZE WAI & Co.

Please apply for prices of other descriptions ofļcoal

for bunker, factory, and other purposes.

TELEPHONE · No. C. 5009,"

SZE WAI & CO.

49, BONHAM STRAND WEST HONG KONG. (CANTON, BRANCH —§ZE WAI & CO. Lox Yu SUM ROAD, CAXTON, "PHONE NO. 13650)

GERM

QILS

MADE IN ENGLAND.

ON THE WELLS-SOUTHCOMBE PATENTED PROCESS TO INCREASE "OILINESS"

There is a grade of "Germ" Oil for every Automobile.

Sole Agents:

W. R. LOXLEY & Co., Manufacturers: HENRY WELLS OIL Co., Ltd., London, S.W.

Masterpieces of Sacred Music

This month, Vietor offers you a selection of Red Seal Records which stand dut not only by reason of intrinsic merit, but because of a peculiar timeliness, "The Crucifixion," by Stainer, is one of the most familiar and monumental of all cantatas and its release this month speaks eloquently of the season's sig- nificance. The Third Act of Parsifal, also included du this list, combines sublime music and the deepest religious fervor ever félt by man. The Victor Album of Gregorian Chants reflects the nature of its contemporary releases. We cordially invite you to hear these records on our Victor Radio-Electrolit. You are welcome to come at any time.

MUSICAL MASTERPIECES

The Crucifixion (Sir John Stainer)

RICHARD CROOKS-LAWRENCE TTEBETT-MARK ANDREWR AND TRINTET CHOÍR --In Album_M-64 (Nos. 9424-9429); AM-64 (Nos. 9430-9435). On 6 Double-Facel

******** Victor Records with Explanatory Folder. List Price, $4.00. Parsifal

(Wagner) (Act 3)

BEBLIN STATE OPERA COMPANY, UNDER THE DIRECTION OF KARL MUCE

· In Album M-67. (Nos. 7160-7167). AM-67 (Nos. 7168–7175), On & Double-Faced Victor Records with Explanatory Falder. List Price, $16.00,

Gregorian Chant

Prus X Chơm, ČOLLEGE OF THE SACRED HEART.

In Albúm M-69 (Nos. 7100-7181). On 2 Double-Faced Victor Bocords. List Price, $4.50.

RED SEAL RECORDS

Tango (Albeniz) (Recorded in

Europe) Piano Aufschwung (Soaring) (Schumann,

Op. 12, No. 2). (Recorded in Europe)

WILHELM BACHAUS No,'1445, 10-inch Macushla (Rowe MacMurrough-

arr. Chemet) Violin with Piano A Dream (Charles B. Cory-3. C.

Bartlett) RENEE COXMET

No. 144, 10-inch

La Juive-0 Dieu, Dieu de Nos

Pères (Oh, God of Our Fathers) (Passover Music). (Halévy)

La Juive-Si Trahison ou Perfidio **(Lord, Should Perfidy Round Us Hover), (PABBOover Music.con=" cluded) (Halévy)

GIOVANNI MARTINELLZ VIVIE

METROPOLITAN OPERA CHOKLA No. 8165, 12-incl Carmen Choeur des Cigizières

(Chorus of Cigarette Girls) (Bizet) Freischütz-Jagerchor (Huntsmen's

Chorus) (Weber)

METROPOLITAN OPERA CHORUS No. 4175, 18-inch Faust Air des Bijoux (The Jewel

Song) (Gounod) Farist--Le Roi de Thule (The

King of Thule) (Gounod)

ELISABETH BETEBENG No. 7179, 17-inch

Der Erlkönig (The Erlking)

(Schubert, Op. 1)

Leggero Invisible Bolero (Ligi

Invisible) (Arditi)

ERNESTINE SCHUMANN-E) No. 7177, 12-inch

Prelude und Allemande (Bach)

(Recorded in Europe)" Guitar · Fugue (Bach) ANDRES BECOVIA No. 7176, 12-inch

The Stars and Stripes Forever

March (Sousa)

El Capitan March (Sopsa).

LEOPOLD STDKOWÝKI AND THE

PHILADELPHIA ORCHE No. 1441, 10ách The Rogue Song (from Metro Goldwyn-Mayer picture, "The Rogue Song") (Clifford Grey- Herbert Stothart)"

The Narrative (from Metro-Gold- wyn Mayer picture, "The Rogue Song)

* LAWRENCE Tinngri No. 1446, 10-inch.

When I'm Looking At You (from Metro-Goldwyn-Mayer picture, "The Rogue Song")

The White Dore (from Metro"

Goldwyn-Mayer picture, "The Bogue Song") LAWRENCE TUBETT

· No. 1447, 10-inch

S. Moutrie & Co., Ltd.

(Victor Distributors)

Chater Road.