1934-01-16 — Page 7

THE

HONG KONG DAILY PRESS, TUESDAY, JANUARY 16, 1934.

CORRESPONDENCE SERIOUS GODOWN

THREAT TO BRITISH

SHIPPING

P. & O. General Meeting

In London

FOREIGN SUBSIDISING

Referring to British shipping the Chairman, The Hon. Mr.. Alexander Shaw said:

The figures show that less and less cargo is being brought to Britain herself in British ships, and more and more in 'foreign vessels; and, that as, from year to year, the tounage of British ships entering British ports de. elines, the tonnage of foreign ships entering British ports increases. I should be the last to stress these figures unduly or to draw the conclusion from them that” an Severe as is the suf irreparable crisis is with us now. fering and the loss, the position is not irreparable if the proper steps are taken. The most grave peril in which we could stand is that our Statesmen should be blind to the tendencies of the times and should neglect to until it is too late.'

act

British Lines which conduct it to these have done good service communites, and are operated on a" strictly economic basis. But one

[All letters intended for publi ention must be accompanied by the game and address of the writer, not for publication, unless so denred but as evidenes of good faith-B

DAILY PRESS."}

Why Britons Travel "Foreign"""

of the great subsidising Powers, TO THE EDITOR OF THE "HONG KÔNG not content with Javishing mil- kons upon ships for Jts own trades, is, en route, operating its highly subsidised vessels in that purely British trade. I see régular- ly the voyage. results of some Bri- tish ships which are faced with that uneconomic competition, and they make lamentable reading. Loss follows loss in apparently m eriding succession. The ships whosa voyage results I see are the property of a Company which is controlled and managed most ad- mirably in New Zealand but in which the P. and O. have a very large investment. You will not be surprised to learn that we have received no dividend this year 'on our holding in the equity of that Company.

H

BLAZE

Damage Of $12,000 Estimated

A serious fire broke out in the the early Hunghom district in hours of yesterday when the Chan Hing Godown at Winslowe Street caught fire at about 2.30 am.

"Bir,—I do not know who wrote your

The origin of the outbreak is thột article in the Kowloon Day Sup-known, but it appears to have bro plement Bäturday. but I wish ken out very suddenly, and the there were many more articles greater part of the building was written in the same strain the same subject.

on

already in fames when the Firs Brigade received, a call, and Before I go any further, I would brought all its resources to bear on say that I am not a "shipping the premises At 11 am yester man" and have no financial in- day, the engines had not returned terest in shipping In BDY way to the Kowloon Station. directly or indirectly.

I thing it is very wrong of Bri- tons to travel more and more by "ships owned by other nations. "It is difficult to resist the cop- Apart from that, it is very foolish clusion that British shipping may of them, I consider; since the pro- gradually be driven out of that sperity of our Empire is so bound purely British trade, simply be-up with that of our shipping in cause its slender resources Cardustry. So that every British never compete against

the un-subject should support British bounded wealth of foreign tax-shipping in every way he can. payers.

Booking his passage by a British I venture again to call attention line is one of the ways he can do to the fact that this uneconomict. It is a big outlay in propor- competition is by the ships of a tion to the salary of most of us. Power which, while sending its

and is in the aggregate surely own subsidised vessels into a pure-large sum even in proportion to ly British" trade between British

steamship Dominions, at the same time will the earnings of big

lines. So that it is a great help not allow a British ship to carry

to British shipping to which very a single passenger or a ton of cargo-between her own,ports and

many can make contribution by choosing a British line. her own overseas possessions on the route in question, and has by

It is not only the British by race who should do this, but the that means, already deprived a

numbers, of Britláh British Company allied to us of a

subjects of They

other races who benent, · so · very small in number compared to those formerly profitable trade.

greatly by the protection they of the Group as a whole and that, reserve their own trade and they taking this wider view, the com-

Briish subjects. They attack ours with subsidised ships enjoy as bined Fleets of the Allies stand in

not only the trade between Austra-receive much and should not.he- the books at over £8,000,000 lessa. New Zedland and Fit, but state to give.

By the way, your article says than their value based on a 6 per other trades as well-for example, Cent, rate of depreciation on the the trade between Hongkong, the ts stewards are more courteous and obliging" the stewards Straits, Colombo and Bombay; and the problem extends now even to of a foreign line. I join issue: I the cargo trade between the Do- have travelled P. & O. for a great minions and the United Kingdom.many years and very frequently

Personally, I find it difficult to admire the foresight, of those who sheltér behind the generalisation. that, taking Inter-Empire trade as a whole; it is still preponderating- y carried in "British vessels.

TRAMP TONNAGE REDUCED. BY HALF

Chairman's Speech- Report of the procedings at the Ninety-third Annual Meeting of the Proprietors, held at the Com pany's Offices. 122. Leadenhall Street, London, on Wednesday, the 6th of December, 1933, in which

the Hon. Alexander Shaw. took the Chair.

The folowing are extracts from! the Chairman's speech:-

"My Lords, Ladies and Gentle men, I will call upon the Becre- tary to read the notice convening the meeting, and the Auditors' re- port,

The Secretary having read the notice and Auditors' report. The Chairman said:-

My Lords, Ladies, and Gentle men. The Report and Accounts have been in your bands now for some time, and perhaps it would be your pleasure to agree, as usual, to take them as read.

Dividend Policy.

to

frst cost.

V

The Year's Earnings. You will observe from the Pro- fit and Loss Account that our re-i ceipts from voyages, less disburse- ments and ships' laying-up ex- penses, amount this year to £1,183,- 909 as against £881,770 last year. I wish I could say that trade had been better. It was not; and as a matter of fact our gross receipts from voyages have fallen. reason for the better net result on the voyages that the economies to which I referred last year, in- cluding the drastic reorganisation of the Company's services, have yielded rather better results in a full year than originally "estimated. While in a fair number of cases we

"Whe

An Anxious Future.

There would be comfort in that

shelter only if the position. were static and unmenaced. But what are the facts? There are Empire trades where already the balance tent as to cause not only present is rapidly shifting to: such an ex-

loss but grave apprehensions for the future. Further, the known and acknowledged policy of some have had good homeward cargoes, foreign Powers makes it certain ships in

instance almost every

I now beg to move that they be adopted, It is hardly necessary to say with what regret the Direc- have left this country with a great spread. Would it hot be far bet- tors find themselves faced again deal of empty space, while rates with the unpleasant duty of ask af freight remain at low level ing the proprietors forego I am glad to say that the P. and a dividend on the Deferred Stock O. Company's steamers "Strath Last year I explained somewhat fully the considerations which had led the Board to take that course. These still hold, and I need not on their ordinary voyages, It is repeat them now. It is permis-pleasant also to record that the sible, of course, to point out that Company's friends in India, realis

great difficulties which the Company has actually founding the

has to face in a larger sum from current revenue British shipping this year towards depreciation; these days, have been tending to and further, that after deducting rally to the support of British · disbursements and laying-up ex- Lines. (Hear, hear.) penses the revenue from voyages is considerably better.

The Accounts.

Perhaps you will permit me briefly to refer to some of the matters in the more important accounts which are before you.

The godown which vran almost totally destroyed was a large one measuring 110 ft by as ft. It was crimed by Leung Hing-shing, who used it both as a godown and na match-factory. H

The fire is believed to have been caused by a carolessly used light, Owing to the nature of the con- tents, the fire was of a most in- tense obaracter, but fortunately fire.nen succeeded in limiting it to the godown, leaving the other g downs unaffected.

The total loss caused by the fire amounts to $13,000, which is more than covered by the

ÎNALTBENCO affected.

It was not until noon that all danger passed, and the firemen were able to withdraw.

The building and goods, which belong to a private Chinese firm, are. inatred..

נו

and I do not understand how any“ one can wish for more courteous treatment than. I have always bad.

Enclosing my card. I am. dear Sir,

2

Yours etc..

ENGLISHMAN. Hongkong. January 15, 1934.

VICTORIA LEAGUE FOR HONGKONG

Assistance to British Subjects

Going to England

that the prea of danger will

The Victoria League in London ter to get rid of this paralysing among lis other activities, rend- apathy-timidity complex now, when era assistance to British subjects a cure can be effected with a from any part of the 'world who minimum of disturbance, rather go to England, more especially naver." "Strathaird" and "Viceroy, to wait until an obvious for purposes of education. The of India” have again earned gold- en opinions both in cruising and menace has become a widespread League is prepared to render as- "and established danger, until sistance in the matter of finding apathy awakens into alarm, and quarters, advising on educational taken at a time when a greater ing in regard to admission to the until action Imperatively must be matters, as far as possible help-

universities, giving facilities for visiting places of interest, and generally in bringing students, in- to contact with English social life. The League has kindly con- sented to render such assistance to British subjects going to Eng- A local land from Hong Kong. committee has been formed, con- sisting of:-

The Year's Work.

May I say now à few words about the year's work.

The P. and D. Company and its Allled Lines circle the Globe. It may possibly be of interest to you

disturbance will be caused. -

Plight of the British Tramp Owner.

a

Tramp shipping is having terrible time. Only those engag ed in it can feel the daily pres- sure of its distress and can real-

Ise how near, we are to a wide- spread disaster among tramp shipping companies.

*

Tramp shipping, though some- to know that during the last year times it has an effect upon liner the vessels of the Group traversed rates, is in the math complement- over 13,580,000 miles at sea. This enormous distance Was covered ary to liner services and performs, In its movement of the crops of without a mishap of any conse-the world, a function which liners quence. (Hear, hear)

alone could not undertake. If our

1

It will be observed from the Pro- nt and Loss Account that we have aet aside this year, a sum of £1.- 384,426 for depreciation of steam- ers. This is the full depreciation

In spite of bad times, over 1,800,- on a basis of 5 per cent. of the 000 passengers have been carried tramp shipping goes our place in original cost of the F. and O and well over 11,000,000 tons of the world goes with it. Fleet. As I have said, it proved cargo. It may also interest you to necessary to call on the reserves in know that, apart altogether from order to make up the full amount Allies who use the Suez Canal, the required under this heading: and vessels running under the F, and the sum so taken, as is shown in o. dag alone have paid out during the Profit and Loss Account, the year in Suez Canal dues no amounts to £656,970. This question less than £687,220. of depreciation gives ground for

Hón. Colonial Secretary, Chair-

man).

The Vice Chancellor, Univeralty. of Hong Kong. (Vice-Chair- man),

Hon. Becretary for Chineza

Affairs.

The Director of Education. Honourable Mr. S. W. Tso, 0.8.

M. LLD

Honourable Mr. T. N. Chau. Miss Alice Kwok .. Inspector of English Schools.

(Education, Omnes),

John Honorary Secretary, (Hong

Kong).

Effect on Invisible Exports Although expenses of running have greatly increased, the gen- eral freight level has tank to 70 as compared with 100 pre-war: and a new phenomenon is being experienced in the fact that sub- We have as a Group an oraldised cargo tramp ships of for- constant consideration by the ganisation which works with great eign countries are tending te Directors. While it is fair to bear smoothness, and this is largely due make more and more incursions in mind that a considerable pro- to the spirit of loyal co-operation into the freight market. The rates portion of the P. and O. Fleet was and goodwill which permeates all quoted are already down to the built at a time when costs were concerned in from the Manage- bone, but these foreign vessels by avail themselves of the asalatance higher than they are likely to be ments in the various Otices here virtue of the again for ships of the same kind, and abroad right down through them are offering to take rates of the League should apply to one and further that there are cer- their technical staffa ashore and just below the very lowest that of the Honorary Becretaries, with tain expensive. vessels in he F. and the 28,500 men who are daily an unsubsidised ship can quote, ale to obtaining a letter to O. Fleet which it might not be serving our Group at sea. If and as a result of this undercut the Secretary of the League in necessary to renew at all as such, trade takes a turn for the better ting are getting the business. London,

subsidies behind

Mr. Tso Tsun On. Joint Honor

~ary Secretary...

such persons as may wish to

OFFICERS OF THE LEAGUE

owing to the change in world con- and British shipping receives & There was rather a glaring: in- ditions since the time that they measure of fair play, then we stance of this reported the other were built, yet there are considers have the ships, the men and the day where an Italian tramp was The following is a list of the tions on the other alde. We could, organisation ready to take advan bringing Australian wheat to Bri. Offices of the League in London.

tain at a freight below the very

Vice-President: comes..

The Menace of State-aided, Competition,

lowest quotation possible for an The Dowager Countess of Jersey, afsubsidised ship to offer." You will, understand that in a. freight market where, things are cut.

sub-

80

DEE Chairman:

The Lady Forster, G.B.E. Vice-Chairman:

Bir Charles S. Bayley GCLE.

of course, adapt the Government tage of the improvement when it scale of 4 per cent, depreciation which postulates a life of 25 years for a steamer. It this were done, the consequence might be that when certain steamers had to be As the Report states, we are fine comparatively small disposed of, before a life of 25 still confronted by the unfair and sidy may just enable a foreign years was complete, then, as adès uneconomic competition of sub-ship to get the cargo, and the quate provision for depreciation aldised foreign lines; and some of measure of the damage to Bri- had not been made, there would our Allies are even more hardly tin is not the amount of the bet a large loss on their sale which hit than the P. and Company subsidy given to the foreigner, but The would have to be found from sorge- | Itself, the dreaded how the vastly greater amount of the where. In view do all the circum- May I give & concrete ilustra loss of earnings involved to Briz stances of to-day, the Board are, tion of the sort of thing that is tiskt abipping earnings which are of opinion that it is prudent for happening? The ses carrying vital because they are so import- the Compare to adhere to the 5 trade between the great Domins ant a part of our invisible exports. per Dent, scale på depreciation. Thelons of Australia and New Zealand, ariping us to pay for our require- proprietors will bear in mind that including the Fiji trede, is a pu

ments" abroad. But even in situat the ships of the T. and O. Com British trade created

amount these foreign subsidies

{Continued on Page: pany

are comparatively built up by British shipping

The Marquis of Reading, P.C.. G.G.B., G.CBI., G,C.IE

The Earl of Denbigh, C.V.O. The Lord Pasafield, P.C., LL.B. The Rt. Hon. Stanley Baldwin

M.F.

The Rt. Hon. D. Lloyd George,

Q.M., MP.

The Rt. Hon. J. H. Thomas, M.

P., and Mrs. Thomas.

The Rt. Hon. The Lord Mayor

of London.

The Hon. G. Howard: Ferguson. The Rt. Hon. Stanley Bruce,

OM, M.C.

The Hon. Sir Thomas Wilford,

K.C.M.G., K.Ç.

Str Bhupendra Nath Mitra, K.C.

B.L, KCLE.

The Hon. Bir Edgar Bowring. The Hon. J. W. Downie, CM.G. Sir Atul Chandra Chatterjee,

ECIE

Sir M E. Sadler, K.C.SI, C.B. Sir Henry Hadow, C.BE, Hon.

D. Mus, FR.SI.

The Head Masters of Eton, Har- row, Winchester, and West-

minister.

Mr. Rudyard Kipling, LLU Central Executive Committee 1932-3 The Lady Forster, G.BE. (Chairman).

The Dowager Countess of Jersey, les Bayley, G.CLE, KOBI, The DEE (Vice-President). Bir Char-

Lady Beatrice Ormsby-Gore (Vice-Chairmen

-Mr Maurice MacMihan (Hon- Treasurer)

Mră. Amery

The Hon. Margaret Best, O.BE Bir Charles Orr, KCM,G,;/*

· Miss Gladya' Pott, O.E.M Mra Richard Garrow.

Miss Frere.

The Hon. Mrs. Henry Gibbs..

Bir W: Graham Greene, KC.H. Lady Guillemard.

Miss Haldane, 'CH LLD, Mrs. J. A. MacGregor

Blr. Francis Newdegate, 0.0. Dr. MC J. Rendai, G. Lady Beatrice Ormsby-Gore.

Hor Vice Presidentarer Benjamin Robert

lshop of His Grace The

Canterbury. The Rt. Rev. The Moderator of

President of the Church Council The Duke of Devonshire, K.G.

(CMG::GOVO,

BL KOMO. The Hon Lady

Representatives Leagues of

Has the Empire. Professor Ernest Chindber L

Dr. B. M. Allen LLD. Mr. James P. Bedford

NOTHING LIKE IT EVER BEFORE! HOTHING LIKE IT EVER AGAITERS

AT POWELL'S SALE

NOW

ON

Owing to the mildness of the present winter large stocks are on hand in all departments, and as we are removing into NEW PRE MISES, apon completion of the New Stock Exchange Building, ve are determined to clear all Winter stocks and surplus goods before removal. . Unheard of drastic reductions are being made to effect clearance.

We enumerate a few items, there are many more which you cannot afford to miss. Fowell's Sale has always been a Popular event, this one will be mure popular still

DO NOT MISS THE MANY

BARGAINS

XOTE TRESE DRASTIC

AT HALF PRICE

H

PULLOVERS SWEATERS

SOOKS

GOLF HOSE TIES

SCARVES GLOVES HATS

REDUCTIONS

"At

331%

Reduction off regular price OVERCOATS

TRAVELLING RUGS - DRESSING GOWNS

SUITS AND ATTACHE CASES: BOOTS AND SHOES

SHIRTS

PYJAMAS

BATH GOWNS

25% Discount will be allowed off all other regular Stock.

Powelle Guarantee all goods in their isle to be Genuine Bargains. Call and inspect them, there are many other bargains that are being. offered.

Wm. POWELL, Ltd

The Gentlemen's House

9. Queens Road, Central.

Columbia

"RECORDS

Ice House Street Gorder;

A New Standard of Realis

MAID OF THE MOUNTAINS

DX81 VOCAL GEMS... LIGHT OPERA COY.

DX81 —SELECTION.....THEATRE ORCHESTRA

CB558—LOVE WILL FIND A WAY, WALTZ "

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Ice House Street,

Tel. 21822:

NEVER

BEFORE HAVE YOU HAD SUCH AN OPPORTUNITY PRESENTED

TO YOU.

ALL

SUITS AND OVERCOATS

LESS

25%

SECURE A WELL OUT SMART FITTING, ENG LISH SUIT OR OVERCOAT

FOR AS LOW A PRICE AS

$40.00

NOW IS THE TIME,

LANE, CRAWFORD, Ltd