1935-05-23 — Page 7

HONG KONG TRADE

RETURNS

Monthly Statistics Issued

The Statistical Office of the Imports and Exports Department reports that the combined values of imports and exports of merchandise during the first four months of 1935 amounted to

· $229.8 milions (£22.1 millions), as compared with $231.9 millions (£17.2 millions) in the corresponding period of 1934, represent- ing à decrease of 1.8 per cent, in terms of Hong Kong currency and an increase of 285 per cent, hfterms of sterling values,

Imports of merchandise during the first four months of 1935 totalled $129.3 millions (£12.4 millions), as compared with $127.9 millions (£35 millions) in the corresponding period of 1934: an Increase of 11 per cent. in Hong Kong dollar valutës and 30.5 per eent. in sterling values.

"

Exports of merchandise,, during the first four months of 1935 totalled $100.4 millions (£9,6 millions), as compared with $104.0 millions (27,7 millions):, a decrease of 3.5 per cent, in Hong Kong.. dollar values and an hicrease of 247 per cent, sterling values.

IMPORTS "EXPORTS

During the month of April, 1935 |

imports of merchandise amounted

in a total of $32.0 millions (23.4 | UK.

millions), as compared with $321

millions (22.3 millions) in April. | Australia 1934; a dollar decrease of 0.3 per

cent, and a sterling increase of 47.8 | Burina

The following table shows com- parative Agures of "imports and exports -of Merchandise and Treasure during the months of April, 1935 and April, 1934:-

IMPORTS

$

2,100,791

(2,135,932)

.. per cent.; whilst exports totalled

$25.6 millions (£2.7 millions), as 'compared with $26.5 millions (£1.0

milllons): dollar decrease of 3.7 Ceylon per rent, and a sterling Increase of 41.7 per cent.

Canada

E. Africa

India

776,957 (259.561)

87.538 (111,505) 249,012 (473,090)

20,710 (21,938) 24,637 (58,118)

**26*7,593

(330,783)

Malaya

(British) New Zealand

April 1935 April, 1934 Merchandise $33.005,052 $32,127,612 BN. Borneo Treasure.

8,471,021 4.045.191

710,905 1386,730)

17,138 (6,300)

165.164

(133,735)

$ Africa

Total

$38.476,073 $38.172,803

14.113. (9.138)

W Africa

Panda.com

EXPORTS April, 1935 April, 1934 W. Indles Merchandise $25,563,192 $28.541,120 "Treasure......

{wn)

Total

9,800.343 10,386,753 BE. Others

$35.384.035 $36,927 873 Belgium

13.714

(21,752)

375,248

MONTHLY FLUCTUATIONS

Since April, 1934, total Imports

[China.

North China,

of merchandise Into Hong Kong Auctuated from the lowest Hong dollar value (28.8 millions) in South February, 1935, to the highest (39.7 millions) in August, 1934: whilst Exports fluctuated from 320.6 C. America

Middle China,

Cuba

(1,600) 1,005

millions in February, 1935, to $29.7

millions in October, 1934.

} Denmark

5.712 (4,327)

(14,114)

334,946

The figures are given below, with the sterling equivalents, at month- Egypt.

"iy average rates of exchange, in

brackets:

1934 IMPORTS

Apri $33,127,612 $28,541.120

(£2,342.638) (£1,935,290)

$32,790,925 $27.022.079

EXPORTS

(22,485,603). (£1,859,710)

> (435.421) *

5,765,524 (5,872,348) .. 502,552

(639,403) 3,015,659 (4.522.054)

(205,265) 5,438,853 (2,617,421)

.. 1,083.835-

(1,035,485)

277,098

$ 557.383 (523.458 129,482 (118.743 116 952 (176.340) 134.727

HONG KONG DAILY PRESS, THURSDAY, MAY 23, 1935.

THE LATE KING ALBERT

Fitting Memorial

Below we publish a letter from the Anglo-Belgian Union, which was forwarded to us by the Colonial Secretariat Inst evening:~

ANGLO-BELGIAN UNION Founded 1918.

DECREASE IN PROFITS

Canton Insurance

Office Ltd.

A decrease in profits of something over two lakhs as com pared with the previous year was reported at the annual general meeting of the Canton Insurance Office. Ltd. held at the Board Room of Messrs. Jardine, Matheson & Co. Ltd. yesterday.

The Hon. Mr. J.J. Patterson was in the chair and fe at- tributed the fall in profits to the rising, exchange and the difficulty of maintaining premium income. Despite this de- orease. however, the dividend and bantis at. $12

per share was maintained.

1:

-CHAIRMAN'S SPEECH

9, Old Burlington Street, London. W.1. 16th February, 1935. BRITISH EMPIRE MEMORIAL To His Majesty King Albert of the Belgians In response to numerous requests from many parts of the British

Hon. Mr. J. J, Patterson was in Empire that the memory of King the chairman, and those present Albert of the Belgians should be were:-Mr. D. E. Clark, Mr. A. H. perpetuated in the form of #

Compton. Mr. L. Dunbar, Six Memorial in this country we, the Robert Ho Tung. Mr. F. A. Joseph, undersigned, representing the So-Mr. T. E. Pearce, Mr, J. H. Tag- ciety of the Anglo-Belgian Union gart (Consulting Committee), Mt. In London have ascertained after F. C. Hall (Secretary), Hon Str

Shenton, Messrs. careful enquiry that no memorial William

C. could give greater satisfaction to Bernard Brown. M. K. Lo, M. W. Their Majesties The King and Lo. M. H. Lo. Lo Cheung Ip, J. H. Queen of the Belglans and Her Seth. A. B. Stewart. G. A de Majesty Queen Elisabeth than to Carvalho, and Ho Shang Cheung: enrich and Improve the St. An- (113.552) drew's Hospital, Doll's Hill, London,

25.194

N.W., of which Her Majesty. 18 (71.520) Patroness, and which has a special place in the hearts of the Belgian Royal Familly. This proposal has been submitted to His Majesty King George, our Patron who has graciously signified His approval of sent to you, while satisfactory, the project,

does not compare with its four immediate predecessors and I think there is little doubt but that we have entered upon a lean period and must not expect too much from the immediate future. Premium Income is most difficult to maintain, not that we losing Constituents, but rather that it is difficult for

them to trade under the existing chaotic conditions of World finance; to illustrate what I say, it is neces- 9.591 A Nurses' Home is the most ur- sary to go back exactly twenty (35.675) gent need at the moment, as this years to find as low a figure of 1,836.174

would release for the hospital many. į nett Premia as ls shown by the "(2,657.572) beds now occupied by the star. Account now, under review.

1,835.013 The Home, when completed, will be (1,583,733) called the King Albert Nurses' 11,250 096

14,073

(20 546) 245,372 (274,264) 1,228,059 (2,058,063)

31.429

St. Andrew's was frequently test- (29,241) ed to its utmost capacity during the

45.385

Great War, not only for the care (65,351)

and maintenance of our allies the 32,532

Belgian soldiers, but also for our (23.029) on wounded men. Patients of every nationality and creed are ac- (7.079) cepted, and one of the greatest 70,785

features of the hospital is the (31,737) special CLIC that is given to 156:304 patients of the professional and (269,532) middle classes.

25.822

The Chairman, Hon, Mr. J. 3. Paterson, sald;

The Statement of Accounts for the year 1933, which we now pre-

EXCHANGE EFFECT

are

Another factor that militates

against us is the constantly rising Exchange of the last three years, which has had the natural, effect

of reducing Sterling Income' as expressed in Hong Kong Dollars and in turn the Balance avaliable for appropriation to essential Re- serves and division among Share- holders. That we are in a post- tion to be able to maintain the Dividend and Bonus at last year's

Home, and a bust of King Albert (8,485,840) will be placed in the entrance hall

12,850

All information required by those (12.840) wishing to support this äppeal will 96.986 be supplied by the Hon. Secretary

· (68,460) of the Anglo-Belgian Union, 3, Old Burlington Street, London, W1 or by the Administrator of the Hos- pital itself, who will gladly wel- come. by appointment, any visitors wishing to inspect the hospital.

Cheques and postal orders should be made payable to The King Al-Agure is due to our having made bert Memorial Fund, and sent to provision at an early date and so the Hon. Treasurer, Anglo-Belgian obtained an advantageous rate of Union, 3, Old Burlington Street. Exchange; had this not been so, London, W.1.

(1.935) 5,376 (4,342) 112 656

(207.855) 1,708,484 (2,100 882)

76,357

(234,032)

12,498

(309,605) 7 (89,752)

France

Indo-China

May

Germany

*(£2,288,181)

(£1,885.918)

June

$34,834,795

$26,083 095

Holland

July

$29,705,534 $23,240,797) | Italy

165,551

1,320

(£2,181,500)

(£1,706.746)

(103,432)

· (89,358)

August

$39,724,787 $27,788,719 Japan

3,545.437

594,003

(£2,989,704) (£2,091.391)

(2,805,598)

($73,308

Sept,

$97,153,862 $29,432,184 Kwong Chow 276,251

754,250

(£2,883,294) (£2,294,080) Wan

(431,535)

(603,563)

October $36,721,817

$29,655,684

Macao

$12.379

1,279,051

(£2,983,648)

(£2,409,524)

(600,812) (1,682,012)

Nov.

$38,817,414- $29,474,552 Norway

42,667

(£3.164,024) (£2,402.483) -

(41,757)

()

Dec.

$38,253,151 $28,405,180 N.E. Indies (£3,227,810) (£2,396,685)

1,505,336

360,841

(3.105,775)

(572,699)

(£2,090,059) (£2,341.090)

Feb.

$28,800,844 $20.584.724

Siam

(£2;587.574) (21.849.409)

March

$34,175,095 M $27,358,852 S. America

(£3,390.810)

(£2,715.503)

April

$32.005.052

$25.583,102

Sweden

Spaln

63€8 (12,519)

4,107 (7,553) 1,760,577 (2,501,228)

125.441 (74,023)

192,742 (187,438) (407,301) 2,234,150

924,822 (2.896.308) (1,288,391)

1,564 31,068 (-) (132,955)

· 57,721

2,976 (13.823) (2,348)

60 (600)

January $34,274,109 $26,842,125 Philippines 117,853

(£3,433.875) (£2,742,717)

Mean rate of Exchange for April. Switzerland 1935. E.K.$=28. 17

VALUES BY COUNTRIES The total values of Imports and U,S.A Exports of merchandise are shown, below by countries, the figures for Others April. 1934, being given in brackets:

MISS DIANA PLUMPTON

(Special Air Mall. Servicm)

London, May 9.

The engagement is announced between Miss Diana Płuinpton, the woman golfer, and Mr. Noel John Barrington Sabine, of the Kenya "Administrative Service.

Miss Plainpton is the daughter

EBBISHAM,

GRANVILLE,

ROGER KEYES,

ROBERT M. KINDERSLEY. LEVERHULME,

ALGERNON MAUDSLAY, HERBERT SAMUEL. WAKEFIELD OF HYTHE

POPULARISING POLO

<Special Air Mail Service

London, May 9. That polo à as easy to under- stand as Association football, and that it is far more exciting "to watch, was the plea put forward at a luncheon party given at Hurlingham by Major J. J. Astor, chairman of the club, supported by the chairmen of Ranelagh and Roehampton. The occasion Saw the downfall of yet another bar-

we should have been dubious as to the wisdom of making the dis- tributions we now suggest.

A comparison of Income, Losses and Charges for the years' 1932 and 1933 after

four twenty months-shows that while Income for the year 1933. was less by **863,000 than that for 1932, this was somewhat offset by a reduc- tion in Losses by $625,000; Charges also were down by $185,500. The percentage of Proat for 1933 was 17.32 per cent. as against 14.53 per cent. for 1932,

WORKING ACCOUNT Turning to the Working Accourt for 1934, after twelve months, we And a balance of" 81,503,654.32 as against that of $1,749,174.96. for 1933, at the same date; this fall is entirely due to the rise in Exchange from 1/57 to 1/81. the balances in Gold and Silver for the two Accounts being almost. -rier of privilege before. the pres- identical. It is early yet to say sure.of economic reality. If first-what will be the result at the end (1.850.118) class polo in this country is to be of the current year but if

78,369 saved, public support, which has (102.992) hitherto been undesired, must be secured. Members of the public who have previously wanted to watch polo have been treated with scant courtesy, but now they are to be courted.

1,471.754

ROYAL GRANDCHILD. REN'S DEBUT

(Special Air Mail Service) ||

London, May 9.

Exchange remains at anywhere about where it now is, It is obvious that it will be cus of the question for us to maintain the Dividend and Bonus as at present.

All the Reserves are in A

thoroughly sound position and though the disparity in Exchange between Hong Kong and Shanghal gives serious food for thought, we feal that the Investment & Ex- change Fluctuation. Account. standing as it does at a very substantial amount, should be ampie to bear any reasonable strain that may be placed upon it. Much of what I said in my speech at the General Meeting of the stater Company-The Hong Kong Fire Insurance Co. Ltd. applies equally here, though cer- tain adverse factors have further developed since the 29th March last. Still we must hope that the present position is only temporary and that things may swing back more to our king in the not too distant future,

45

13

DIVIDENDS

The surplus now to be dealt with is $994,087.63, out of which has been paid an Interim Dividend of 83.60 per share. We now re- commend the payment of a final. Dividend of 87.40 which with I Bonus of $1, making in all $12 per share, will absorb. $600,000; we further recommend the addi- tion of $100,000 to Reinsurance Fund and the transfer of the balance, amounting to $294,087.53, to Underwriting Suspense Account to close 1933 and previous years. The balance of $1,503,654.32 2 credit of 1934 Account allows of the payment of an Interim Dividend of $3.60 for that year.

I do not think there is anything further which calls for special mention by me and to tell the story of our difficulties

to you who probably have plenty of your own, would be merely futtle. It is suficient to say that competition has degenerated into a scramble for the much reduced volume of business that is offering, such re- duction being mainly due tɔ pre- sent day and world - wide "national" restrictions. Where exactly improvement is to come "from it is hard to see but we have weathered this times before and with the help of our friends shall do so again.

I now propose the following Resolution:-

"That the Report and Accounts, as presented, including the pay- a. Final Dividend in ment of respect of the year 1933 of $7.40, together with a Bonus of $1 per share and an Interim Dividend in respect of the year 1934. of $3.60 per. share; an addition of $100,000 to Reinsurance Fund and of $294,037.83 to Underwriting Bus- pense Account, be adopted and passed."

ELECTION OF OFFICERS The motion was seconded. by Hon. Sir William Shenton, arid carried unanimously.

C. On the proposal of Mr. Bernard', Brown. seconded Mr. M. W. Lo, Sir Robert Ho Tung Messrs, D. E. Clark, A. H. Comp- ton, L. Dunbar, F. A. Joseph, T. E. Pearce, J. H. Taggart and S. T. Williamson were re-elected memn- bers of the Consulting Committee. Messrs. Lowe, Bingham and Matthews and Messra, Percy Smith,

Seth and Fleming were re-elected auditors on the proposal of Mr. M. K. Lo, seconded by Mr. A. B. Stewart.

SHELL MOTOR SPIRIT

As from yesterday, the APC's retail price for Shell Motor Spirit

WES

Per case (containing Two New

Tins), $8.30.

Per Unit of Two New Tins, $7.90. Per Unit in Returnable. Drums,

57.10.

Per Imperial Gallory in bulk, ES

cent,

At Hurlingham, where consider- able reconstruction, involving the

JAPANESE IN LONDON disappearance of the old pavilion It was the first time in their and is.. clock; is now in progress, young lives on Monday that Frin-the positions hitherto occupied by (Spedis) Air Mail Service) cess Elizabeth, Princess Margaret members and by the public are to

Landon, May 9. Rose, Viscount Lascelles, and the be reversed.. A new stand, made A number of Japanese residents Hon. Gerald Lascelles appeared of reinforced concrete, is being in and around London assembled in public either individually or to-erected to Hold 2,800 members on at the Japanese Club in Cavendish of Mr. and Mrs Merville Flump-gether as royal personages, shar- that side of the ground where the Square, London, on Thursday toh, of the Hermitage, Frinton- ing the homage given by the public used to sit, and 1.200 non- evening, to celebrate the silver on-Sea, Essex, and late of Singapopulace to their royal grand-members will, in future. be accom-Jubilee. After an address by the pere. Her fiancé le the eldest son of Mr. and Mrs. John Sabine, of parents. The little figures of the modated in what were seats for Japanese Ambassador.the.com- two Princesses in blue at once members. They will, therefore, pany united in shouting their West Didsbury, Manchester,

caught the eyes of everybody, and now be on that side of the ground banzais for the King and in the Princess Royal's two sons in where ponies are changed after singing the national anthems of ties of friendship which have kilts of Stuart tartan were wel- each chukka. The price of admis- Britain and Japan. It was then bound together the two countries comed with equal interest and en- sion to the enclosure is, to be one formally resolved to dispatch and on the loyalty to their thusiasm by the crowds.

shilling: reserved seats will cost telegram to the King's private respective rulers which is a com- five shillings.

secretary conveying to the King | mon trait.. He stressed in paraĉu- The children seemed to enjoy.} *

humble and respectful cô gratula lar the cordial relations between their experience, and waved their it is almost trite to say that the tons on the occasion of the the two ruling houses, recalling hands repeatedly to the cheering human and family note in Mon- national festivity and sincere that King George had been to crowda, Royal children a genera-day's great event would have been wishes for the King's continued Japan as a naval cadet, and that tion age were never allowed to strangely absent but for the parti-health and prosperity, “

the Emperor of Japan had visited share in their parents or grand- cipation of their Majesties four The Japanese Ambassador, in England when he was Crown parents ceremonial occasions, but grandchildren.

his address, dwelt on the many Prince.

Miss Plumpton reached the last eight in the Girls Golf Champion ship in 1929 and the final of the British Women's Championship in 1933.

She represented Great Britain against South Africa in 1933-34 and toured Canada and America with a British team last year.

She was born at Singapore on May 4, 1811. She plays most of her gol at Frinton-on-Sea,

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