1932-06-30 — Page 4

THE ST. FRANCIS HOTEL

Moderate monthly and daily rates.

Breakfast

Restaurant

Six course Tiffin Seven course Dinner

· ן!

80:75

1.00

1.50

Cakes & Pastries fresh dally or made to order.

Telophone

Hotel No. 26634 & 20635 Pastry Department No. 22422

KING'S THEATRE

THE SEASON'S OUTSTANDING MUSICAL EVENT!

THE WORLD'S GREATEST WOMAN VIOLINISTE

RENEE CHEMET

HONG KONG DAILY PRESS, THURSDAY, JUNE 30, 1932.

and Markets

Money and

SHAREHOLDER'S PROTEST "AT

COMPANY MEETING.

DOUGLAS 5.S. COMPANY'S POLICY ATTACKED: DIRECTORS RESIGN,

RUN SOLELY FOR THE BENEFIT OF MANAGERS,

STAFF AND COMPRADORE."

That the transfer of $30,000 to Leave. Pay and Pension Reserve WAS out of all proportion to the Company's profit and that it appeared to him that the Company's steamers seemed to have been run solely for the benefit of the managers, the staff and compradore was the opinion expressed by Mr. N. V. A. Croucher at the annual meeting of the Douglas Steamship Co., Ltd., held yesterday."

It was also disclosed at the mealing that after having made certain suggestions for the future conduer of the Company's busi- ness, the Hon. Mr. J. J. Paterson and Mr. L. J. Davies had re- signed their seats on the Consulting Committes.

NO DIVIDEND FOR EIGHT YEARS.

LONDON STOCK

EXCHANGE ACTIVE

BRITISH LOANS SHOW RISE

་

[BXITIAN' WIRELESA AERVICE) „h

Ruan, June 28. THE oustanding Stock Exchange feature at the close of the house to-day was provided by cou- version loans in British funds. Three and a half per cents rose 7/8 to 14 four and a half per cents. 7/8 to 108.1/18 and 5/10 to 100f.

Dealings started to-day in Cyprus Govarument ง per cent Stock, 1930/36, and the price. rose to l premium, active. business being tranncted. The basis of allotment is understood to be between 8 per ent, and 10 per cent, to applienats for larger amounts, applicants for amounts ap to £300 being ruled out.

tempt to meet the very low ton: to shareholders for eight years and nage values of to-day. Our vessels the, steamers appear to have been have just passed their expansiver solely for the bengfit of the four-yearly londline

SILIYOYA ankl

very little extra expense should be

managers, staff and compradore.

There is also outstanding freights 8168,000, which in my opinion is too much for a company operating three steamers, and I should like

practised. I think this contribu- inn should be immediately suspend- ed and scale of wages and allow- Addressing shareholders. Mr. A necessary by your Consulting Com-avers' and conditions of service IL White, the Chairman said:mittee and General Managers, in an revised. No dividend has been paid While the rarnings for the period under review show an increase those of last year, there is much to be desired in the way of improve mes in the general trading conincurred on surveys for some time. ditions on this coast., Freight basi- ness is far from normal, this being eccasioned mainly by the general unrest in China particularly within the current year there was an im.to know how much has been collest- the sphere of our trading opera-provement in trading conditionsed since the account was closed. The exchange position has from Hong Kong, but subsequently twice their market value, and their heen most difficult for the period owing to further unrest in Fukien mader review, this, having materially Province, the business of the up-average age is 20 years. If we are to maintain service on the coast, ffected the usual cargo movement country merchants was seriously on the const, and increased the cost interfered with. I am glad to say of operation of our vessels. The however, that within the last few emigrant businer from Foochow weeks, conditions have improved.

tions.

has been seriously handicapped ow- ing to limitation of the number of

One Recital Only at 9.30 p.m. Friday, 8th July passengers for the Straite Settles

"THERE IS ONLY ONE CHEMET”

Morning Poal, London,

"TOPS THE LIST OF WOMEN PLAYERS'

N. Y. Evening World, PRICES INOL TAX)

ORCHESTRA STALLY DRESS CIRCLE

PLANS NOW OPEN

K4. $4...

FRONT STALLS

83.

"

BACK STALLS

'BOOK BARLY

$2,

ments, and it is apparent that the general world depression is making itself felt in our business.

Adverse Trading Conditions. During the first three months of

The steamers stand in the books at

and we shall never be in a position more up-to-date boats are required

HONG KONG STOCK

MARKET.

YESTERDAY'S OFFICIAL

SUMMARY.

SPY SUSPECT CONFRONTED,

MAY BE BROUGHT TO ENGLAND.

The man believed' "to be Fritz A distinctly quiet feeling prevail- ed ut yesterday morning's session, Duquesne, the former German spyr - but there were hardly any alternwanted by the British for murder tions in rates. which may be said on the high seas, asserts that he is to have remained stendy,

the victim of mistaken identity.

Batos,

Raubs. $33. Telephones PP.), $22. Constructions (New), St].

Buyers.

Canton Insurancés $1,200, Ching Fire Isamances, Sulo. H.K. & W Dooks. $16. Providents (Old), 84.90. Hong Kong Lande, $104, Hong Kong Trams, 822). Yanmats Ferries (Old), £33). Yaumati Ferrics (Now), 3}. China Lights (013), $19.65. Telephones (P.P.), 82, Hong Kong Hopes, $13.10. Dairy Farms, $27Į, Lane, Crawfords, 851, Constructions (Qld). 85. Hong Kong Govertement Loans,

per cent, premium. Sellers,

B." 811.

South China Motors Hotola (Cum. Rights), $111.* Humphreys, 16.

Hong Kong Realties. 818. Watsons (Old), 8744.

||

SHANGHAI SHARES.

After an hour's questioning by. the police he still insisted that. ho "was Major Dë Trafford Cruven, L

retired British officer.

Mr. Gerald Campbell, the Bri- tish Consul-General. told Police Commissioner Mulrooney that if identification, call be proved he would ask for the man's extradition og i warrant ismed 13 years agć, charging him with causing an ex- plosion in the liner Tennyson.

All-night Ordeal, Troughout the night the prison- er stubbornly 'resistoù all the at- tempts of New York's best deler- tives to induce him to admit that he was the former spy.

He was confronted by men whe had known Duquesne 20 year ages ¦ as a journalist, as man about towa,” and as a supposed German agent, but after each identification, he replied, "You are making a terrible mistake."

After this all-night orden) he was lined up in a police identifica tion parade this morning and on- teritined 400 assembled members of the detective force with airy bant-

Marshall Brophy, head of the New York Fire Brigade, identified. him as a man charged with arson in Brooklyn 17 years ago, and an- other man. recognised A tobacco 'pouch of lion's skin that the pris Messrs. Carroll Bros, have resoner produced! is one owned by

LATEST CABLED QUOTATIONS.

Photograph Clue,

to acquire same unless drastic ceived the following cabled quota-Duquesne 30 years hack. measures are adopted in reducing tions of Shanghai Shares:- As you will see, the accounts be presen's openting costs by bringing fore you have been duly audited by same more into Hine with existing

Company's auditors and up-conditions:

the

proved by the Hon. Mr. J. J. Pater-

son and Mr. 4. J. Davies, the only

members other than myself of the

Chairman Replies.

The Chairman: As regards the

amourits

for 1031 The steam

tetus. Ewo Cotton Milia, Ltd. 13.60 Shanghai Lands

... 24.25 Shanghai Electrics ...... 29.75

EXCHANGE. .

Is will be observed from the ac-Consulting Committee now in the andunts outstanding for freight, I NEW YORK STOCK ents that the steamers show a Colony. Since the accounts have wish to point OUR That 111 profit on working, of 882.668.34 and been approved, certain suggestions outstanding that 857,000 has been written off for have been made by the Hon. Mr. have been collected. depreciation, this being considered J. J. Paterson and Mr. L. J. Davies erg certainly de stand very for the future conduct, of the Com-much above their market value. pany's business, and the same are in the books, but this matter, and receiving the careful consideration also that of pensions reserve and of your General Manager.

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111

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Resignation of Directors.

I regret to say that although your General Managers were and are giving their most careful considera- tion to the proposals, and are in no

leave pay, is being subject to thorough investigation by the Con- all in our power to reduce expendi- Laulting Committee. We are doing

ture and losses,

A.O.F.C. QUOTATIONS,

(REUTER'S AMERICAN SERVICE]

New York, June 28.

LIST TO-DAY'S

AVERAGE AVERAGE CHANGES

30 Indus Mr. Croucher: Yes, I understand trials that but we cannot go on doing to Rails

44.03

13.76

43. 19-

13:40

17.03

€1.05

.31

.03

way antagonistic thereto, the Hon. Mr. J. J. Paterson and Mr. L. J. this, Mr. Chairman. Our entire 20 Utilities 17.19 Davies have sent in their resigna-

capital is only six lakhs, and we 'Masers. E. A. Pierce & Co, Report. tions and stated that they do not and crews, All leave, ets, should done: 800.000 shares

are spending it all on the officers Market Uncertain: Business wish to stand for re-election. I

be suspended straight away. much regret this situation and hope don't think that the floating staff that they will yet reconsider their decisions.

LAST TO-DAY'S PRICE PRICE Air Reduction $341 $35 have borne the sacrifices the share- holders have during this period of Allied Chemical and In the meantime I propose that depression. I trust that something

Dye

154 45 American Can

*40* 31 this mecting passes the Report and drastic will be done, Mr. Chairman. Aceinte, re-elects Sir Robert Ho

American Telegraph

704 and Telephone Tung as a member of the Consult

American Tobacco "B" 48) 483 ing Committee and appoints the

Auburn

454

I

@

4

201 21

I propose at a later date to convene been passed, the Chairan pro-Canadian Pacific

*

81.

344

251

234

The Chairman: Yes.

Other Business.

Auditors for the coming year and The accounts and report having Borden Company

an extraordinary general meeting posed that Sir Robert Ho, Tung be. Consolidated Gas of for the purpose of filling up the re-elected as a member of the Con- New York vacancies in the Consulting Com Jaulting Committee. mittee.

"The Consult Drugs, Inc

ing Committee have, until receptly, Du Pont de Nemours 243. I now beg to propose the adoption been myself as Chairman, the Hon. Eastman Kodak of the report and accounts as pre-Mr. J. J. Paterno, Sir Robert Ha General Electric sented and, after this has been Tung, and Mr L. J. Davies. As General Foods seconded, I will be pleased to have already informed you, the General Motors answer to the best of my ability, Hon." Mr. J. J Phterson and Mr. International Harvey- apy questions shareholders may desire to ask.

!!

Mr. T. Ramsay: I desire to second, the motion....

Shareholder'x Protests.

"Mr. Chun Wing Keu seconded the Mr. N. V. A Croucher: Mr. motion, which was carried unani- Chairman, I notice in the accounts mously.

24

Inspector Sullivan, head of the detective bureat, told the prisoner that he had been arrested on a eliarge of causing the death of three sailors on board the Tennyson," but the prisoner replied with a smile, "How absurd.”

Duquesne was the man whose photo-

The police said they had no doubt

appeared in

graph's

Clement Wood's book, "The. Man Who Killed Kitchener," but they had no evidence to prove that he wan responsible for the Hanshire disas

tex.

They suggested that the man might have pretended to have been instrumental in sinking the ship in order to make money From book and film rights.

It was discovered that under the name of Craven he had 'approached a humber of prominent film produ cers with the proposal that they sbould buy him the rights to pho tographs and documents telling the story of the loss of the Hamp ahire

NEXT CHANGE.

AT THE

CENTRAL

THE GREATEST RKO SUPER SPECIAL FEATURE. YOU'VE LONG BEEN WAITING FOR

Rio Palad ginsenos

201

302

01 01

101 201

Bb

L. J. Davies have sent in their re-

ter

313

11

Locw's Inc. Pacific Gas and Elec-

tricijaci Pennsylvania Railway that you have allocated a sum of. Mr Wing Ping Sun proposed Radio Corporation. ... $30,000 to leave pay and pension that the present auditors. Messrs Sears Roebuck.............. reserve. A like amount was trans Lowe, Bingham and Matthews, and Standard Oil Com ferred last year, which I consider Mesers. Liestead and Davis, who

pany of New Jersey 231 out of all proportion to the Comoffered themselves for re-election, be Socony-Vacuum Corp.. ef pany's profit. This amount capi- re-elected. The motion was second. Union Carbide and

IBA Carbon. talised at five per cent, is about ed by Mr. N. V. A. Croucher, "and

Union Pacific equal to the present value of the carried unanimously.

United Aircraft and fleet investments. No-one would Those present included Mr. A. H. Trans object to generosity during a boom, White (Chairman), Hon. Mr. W. E. but I think in times like the pre VA Croucher, Chun Wing Westinghouse E. and

L. Shenton, and Messrs. T. Ramsay, United States Steel .... -21} 104 sent, strictest economy should be Keu, S. T. Williamson, and C. L. M.

¿Continued on, niat zojums). Farmer (Secretary).......

signations and do not offer them International Tel, and

Tel. Felves for re-election, but Sir

Liggett

and Myers Robert Ho Ting offers himself, for re-election," he said.

3.,

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30

30

151

197

101

78:

78.

3

3

BILL BOYD

10

10

Robert Armstrong

23)

7

161

31 301

...73

.214

Possible mutilation.

James Cle a son

SUICIDE

FLEET

THE NAVY'S BIC PARADE

1