1932-03-31 — Page 6

"SNAP

LOCAL COMPANY MEETINGS

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UNION WATERBOAT HK

REGE

A new range in "Snap" hats. This adaptable brim model is made of fine quality fur felt and is obtainable in Brown, Buff and Grey shades.

HENRY HEATH

Obtainable from

MACKINTOSHS TD

MEN'SWEAR SPECIALISTS.

ASSETS

· £18,000,000

CLAIMS PAID

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GENERAL

ACCIDENT, FIRE & LIFE ASSURANCE CORPN., LTD.

All Classes of INSURANCE

WORLD WIDE

AGENTS

ORGANISATION

JAMES H. BACKHQUSE

1A, CHATER ROAD.

TEL 21788. /

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The twenty se venter gonoral meetin of the Union annual general meeting onthe Waterboat Co, Ltd, was bold at Kong Hope Manufacturing the offices of the general managers, Messes, Dodwell & Co., Ltd., yes torday afternoon. Mr. J. P: Warren presided and was support

BORY YEAR'S **WORKING" REVIEWED.

The Hon.

Mr. Paterson prended at the 63rd ordinary meet Ltd., yesterday, when an originaling of the Hong Kong Fire In motion to pay a dividend of 85 centssurance Co., Ltd., which was hold per share, absorbing. $170,000.00, to in the Board Room of Messrs Jar writs of plant and mashinery dine, Matheson and Co. Ltd., nt the gathering he stated inter

ed by members of the Consulting #7,790.82 and to Committee, the Hon. Mr. C. G. Saredit of

T

ST CEORGE'S SOCIETY

MR HBL. DOWBIGGIN THE NEW PRESIDENT

INFORMAL “ WHITE JACKET: DANCE THIS YEAR

At the month 3 Chinese General

Barón Koster

Alettar

from bha Colonial

that

proferonce had been rented

At the annual general meeting of back been the Society of St. George, which was bold in the boardroom of Messrs, Jardine, Matheson & Co., Lid, last evening, Dowbiggin WAS elected Fresident Bulmer Johnson was made Vice President

from a Britim Colony under the

los produced in and consigned now 10 per ront tarif on goods

letter also referred to the possibility of further preferences which might be accorded to the Colonies by the

Mackie Monsrs, B G Showan, T.3100,000.00, forward to noon yesterday and in addressing for the ensuing year while Mr. Cimportd into Great Britain. The

Yamamoto WH. Lebert, And Mr. D. E. de Sousa (Secretary), Shar holders present were Kasera Owen Hughes W. Yan Epps and A. W Hayward:.

Addressing the meetin

man said 6

your's account forward, ·BG E

formality, was rejected.

An amendment, however, that 15 renta bonus per share be paid, pro posed by Dr. Fred Kew, and second ed by Mr. P. M. N. da Silva, when the Chair. put to the meeting, at the loss of the Chairman's specch, was carried, The directors did not vote on the amendment.

After writing off 88.305.07 agginst dopresintion of boats and adding $4,088.48 to the insurance fund to cover the Company's proportion of insurance," the nets proft for the year is 819,293.75, which, together. with $4,114,05 brought forward from last year, makes a total of 893,406.40 for appropriation.

Supporting the Chairman, were the Hon. Mr. J. P. Brags and Mr. J. Scott Haraton (Directors) and

alia:-

There was considerable discussion The outturn of the year 1930 has proved satisfactory the accounts about the desirability of holding a having run off with a credit balance dance on St. George Day but it very favourably with all proceding was eventually decided to hold an years, except 1998/1999 when results" informal, white-jacket danes" on The proposal was ware of a neture that we can hard. April 23, 201 ly hope to emulate in those difficult made by Mr. L. C. Bellamy and was seconded by Mr. P. 8. Cassidy times

who remarked that it would be a pity if St. George's Day was Allow-

The Chairman, Mr. Wong Kwong.

in explanation, stated that in

to gain the preference,, goods

which ar#: Kong

such

hatured in Hong textile good and

ginger must be made from raw materials produced in British ter ritory se textiles imported from

"Fromium Income, though down by close on half a million dollari, produced a profit of 8.51 per cent.ed to pass again this year without India or any British Colon

holding a dance. It was the original

as compared with 1.78 per cent in 1929,

"The balance of credit of the Working Account for 1931, after

working, months

compared with 8524,205.07 18 8708,096.81 for 1900, at the samo

J. Coulthart (Segretary). Shareholders present ware -Mogers, N. V. A. Croucher, P. M. N. da Silva, A. Seth, F. A. Xavier, F. Ltwolve Silva, H. Dryer, Choa Po Min, A A. Botelho, Lam Lai Tong, La Shuet Kung, Kwok Hin Wang,stage, a decrease of 8245,700.94. Poter. H. Sin, Lo Kin Fai, G.A Harriman, Soo Pui Chen, A. A 4,001.00 Lopes Pang Wai Hang, T. W

It is proposed to deal with same as follows:-

To pay a dividend of

50 cents per share on 38,813 shares which, will absorb t $19,408.150 Carry forward to 1932...

Increased Earnings.

Shewan, J. Toppin, F. J. Tavares, $23,408.40 A. H. Carroll, Chun Wing Keu, Dr. F. H Kew, Mears. W. A. Zim mern, Chan Siu Wui and L. Weiil.

Mr. Shewan's.

!

5. Speech.

Bonus to Staff,

rule.

al iden of "returning hospitality ginger from the New Territories or to thein Scottish friends and now places which are under British Mr. Wong further stated that they also had the St. Patrick's is people to think of. The dance will

before sanding a reply to the be held in he Peninsula Hotel,

Colonial Secratary, a copy of. |·latfor would be forwarded to the Exporters! Association for their

nion.

The Chairman's Speech.

Mr. B. Cook, the out-going Pre- sident, was in the chair and in addressing the meeting he said

The report and accounts have been submitted to you in the usual way and appear to need little explans tion. You will, remark that we have

disbursed

more, in donations and help, than we have received th income. We could make a better

Business Visits to Australia. Another subject of interest dia! and at the mesting was in re- gard to a letter received from Mr.

"The surplus to be dealt with at this meeting is 8815,420.84, the balance of Account 1830, and we re coramend the payment of a dividend of 60 per share, the same as lasi year, together with an Exchange Bonus at the reduced figure of 88 Speaking on the matter, Mr. R per share, and the transfer of the G. Shewan, Chairman, said-Rebalance of $175,490.34 (272,808.8.0), showing if our numbers were more garding the recommendation for theat exchange 1/5 to Reinsurance payment of a dividend of 85 cents Fund.

“I trust tänt you will approve por share, I would like to inform are $22,328 higher, mostly due to you that the Directori received two the usual bonus of 15 per cent, on of having to put off the Ball which ment and the Governments of India,

letters from a number of share their salaries being granted to the On the proposal of the Chairman, seconded by Mr. J. T. Bagram, the report and accounts were carried

The working account shows that 848,875 tons of water were sold as against 831,029 in 1930, the gross revenue being $8,900.50 in excess of last year, which proves that the Company's earning power, has not" declined but our working expenses

SELL.

unanimousl

Other Business.

in accord with the indication of the

census returns:

We had the extreme morbideation it has poon our custom to hold on Twelfth Night. Quick decision was necessary and we had to com sider and choose between in definita. postponement or can cellation. Postponement for fortnight might not have been suz

Archdale Parkhill; Minister for Home Adaira in Australia, about the question of granting facilities for Asiatic business men to. viiḥ Australia. It was stated in the letter that there had been Australi arrangement for many years bo tween the Commonwealth Govern- mantan Japan,

and China, under which the alump in exchange The main holders, representing a holding in

Opna

fide Indian, Ispadese or increase is in the marine insurance the aggregate of 47,208 shares out

Chinese merchants could obtain of our boats which cost $7.189 more of the total of 200,000, somewhat than in the previous year on at less than a quarter of the total

passports from their respective gov srnments which would entitle them count of their higher value in share capital. The first letter beurs

to visit Australia for business pur- dollars due to low exchange. This 38 signatures, of which one is that

Sir Robert Ho Tung, Messrs. C. folent, for a month would have coins This arrangement was only bas, however, readjusted itself by

of an unregistered shareholder.

for persons who were in a position. about 25 per cent. on account of They represent 41,750 shares, which Bernard. Brown, A. H. Compton, Lided with the Chinese New Year appreciation in exchange, and this were supplemented by 5,500 shares Dunbar, T. F. Pearce, F. A Joseph, period, six wecks meant about Race to promote overseas wholesale trade saving will be reflected in this in a subsequent letter, dated March and A. H. White were appointed, wook and proximity to other nation between Australia and the East, but 10 from another shareholder to the with the Chairman, to compose the al functions and, since so many of unfortunately, this practice had been sbused for other purposes, mostly by our best supporters book their

Chinese. tame purport, viz., requesting the Consulting Committee, on the pro to reconsider their posal of Mr. Lo Cheung-shui, s6-

engagements for weeks ahead, it ap Directors

peared likely that to defer would decision with regard to the pro-conded by Mr. S. H. Ross, posed dividend and recommend a Messrs, Lowe, Bingham and Mat

the Wah On Importers' Association, dividend of a dollar instead of 86 thaws, and Mesere. Pero, Smith, spell failure. There was no time of the letter would he forwarded to cents in view of the shareholders Seth and Flaming wore re-elected to canvass for members opinions

wish to participate to a greater Auditors on the proposal of Mr. and the committee were unanimous and reply sent in due course. extent in the additional prosperity D. V. Stevenson, seconded by Mr.that abandonment was the only way. of the Company."

M. E. Lo.

vere If any member foele disappointed he Supporting the Chairman were Messrs, C. Bernard Brown, L. Dun- may find some consolation in the Bar, F. A. Joseph, and A. H. White contemplation of my greater dia (Consulting Committee), P. C. Hall comfiture, (Secretary).

year's accounta

Other items which show consider able increases are coal, fuel cil and wages, but I am glad to say the cost of fuel oil has since been re- duced, which will lower the work ing costs for 1932.

Investments have depreciated in sympathy with the fluctuations in exchange and stand at $37,067.50 loss than last year.

Overhead Costs Higher?

25

Shareholders present were Mesars

The Concert A Success.

The Secretary stated that a copy

YM. Grayburn, Mr. F. C. Hall,

Hon. Mr. W. T. Southern, C.MG., It was after considerable deli

Mr. V. O Labrum Mr JOEY beration that the Board decided on

Danby, Sir William Hornell, Addition to last..

the recommendation of 65 cents per

CLE, Mr. P. 8. Cassidy, Mr. J. The fleet has been maintained in a share. It is from no desire to

oppose the wishes of the signatories J. T. Bagram, M. H. Lo, J.; high state of efficiency and during of the letters. I have just referred 11. Seth, J. P. Sherry, B. H. Ross, What might have developed into Bentley, Hon. Mr. T. E. King, and Messrs. Lindstead and Davis were the year a new waterbost was com- to that your Directors feel they D. V. Stevenson, Wing Chuet an absolute scourge was amsted, Mr. A. B. Raworth,

cannot prudently accede to their Jones, Lo Cheung shui, Ho Lepus but not until it had seriously im ploted and put into coromission, request. by recommending 81 instead and Fleming."

paired the health of some of our elected Secretaries and Treasurers with a Gardner full Diesel engine, of 85 cents as the dividend in

friends to what we offer our best for the ensuing year."

The Hon. Mr. WE L Shenton, and the intest up-to-date pumping respect of 1931. There is just the possibility which your Directors.

cents per

share, absorbing wishes for their speedy recovery. equipment.

sincerely hope may not be realised-

tho This makes a total of 8. water of a curtailment of profit owing to 3170,000 to write of Plant and We had an earlier disappointment in a short speech, said he felt sure

Machinery, 87,729.82; to carry for in having to abandon our Gardan he was voicing the sentiments bosts, five of which are steam-driven la favourable exchange in 1932 ward to credit of next year's Party at the Hong Kong Cricket meeting when he said that the and one of these will be shortly sold than 1931. Overhead costs are a count $100,000 Olut but the concert to the tropicisty deepl apprecissed a R

likely to be highor, at the same time making" 4 ́steam" and a motor boats, as the Company is committed to

The total amount of rents col-on the evening of St. George's Day

mante

85

Amandment Carried.

TAB

thanks to Bern

& Co., for their

boardroom

Our object is gradually to replace expenditure on some new machineated for the Kennedy Town pro-was, I consider, s prenonaced suc- Cock had done for them during his the old steamboats with motor ery. If, in view of your Board's party is about the same as the precess. In connection with the con- term of office and he proposed

explanation, insistence is pressed vious year and ronts at Mu-tau kok cert, or whatever function is decid väte of thanks to Mr. Cock which

ed on, I don't think it is well powered craft as we find in practice for a dividend of 81, instead of 85 show no appreciable inzenas. that the nett saving in the cost of cents as recommended, then, it is You will notice from the Accounts enough known that the whole of the was beartily accorded. man then pumping water from motor driven for you, gentlemen, to propose at that we have expended during the members are hosts and not merely

amendment to the original motion year the sum of 854,644.09 on the committed, and the value and vole boats is roughly 5 per cent,

before the meating, and if it be car ditions to plant and machinery All happiness of the function would be rather

for out greatly increased it more members in lending The Consalting Committee natur. ried the responsibility must rest of which has been provid

would support it with their pre- ally regret that they cannot see with you as shareholders for dis of revenue.

Bence. My term as President of St. dan regarding the Board's recommenda their way to recommend a larger tion. The Dipators will shetaim

George's Society finisher now new. lamp will be kindled from the dividend, but you will see from the from voting on any such amend-

Mr. Bhewan proposed that the flame I have carried for the your balance sheet and the explanations

In face of the abnormal fluctua report, and accounts be stippled and I am deeply sensible, of the honour I have given you, that this is quite tions in archango and cost of raw that the amount of 17-123.85 Be 1 you conferred on me yeST BED but of the question, and I trust material it is not safe to say mere distributed as announced and M: | 1 beg to thank the past Preside shareholders will not overlook the top prospects for the current year Scott Harston seconded, but be and the outgoing committee

than that we have begun the year fore the resolution we put their help and support inde generous treatment they received in will

H. Kew proposed an amendment Our thanks are due special the early part of the year under no.

that a bonus of 16 cents are be MP. S. Cassidy for aaditio

necounts fo paid This was seconded by Mr. P. view in connect on with the issue

Jsme of

MN da Silva and derried. Eonus ahares and a cash, return of

Directors did not vote pa this $3 per share on the new lase,

amendment. fos, sevenue amounts to When the origina) moting was lindafter deducting out the Director and three other and Auditors Feel mareholders voted for and the rest preciation, interest and come of the meeting against, and the mission to General Managers there Chairman declared the motion lost. for the yeaTransferring the remainas net proft, of 8214,810.38

The Year Reviewed.

Mr. Shewan, in opening the mest. ing, said: AME

I now beg to propose the adop tica of the report and recounts as presented, and when this has been secunded; I will be pleased to an wor to the best of my ability say questions shareholders may wish to amount of 821481006 10 Fruit and Account, there is a balance, af

Mr. Van Ep

which was

tlons Bring a

pay Dividend. Continued on mext" coltsziņ

Other Business

I now beg to move the of the report and accoun was seconded by the Ho Ha King and was carr [mously???

the the

unani