HÖNGKONG DAILY PRESS
Finance and Commerce
COMPANY REPORTS
UNION INSURANCE, CHINA FIRE INSURANCE & BRITISH TRADERS
INSURANCE CO. LTD.
The following is the report of dividend of $6 per share, payable the directors of the Union Insur- on Apr 21, 1939. ance Society of Canton. Ltd., to be presented
Contributory Bonus
1
to shareholders at The directors recommend the ordinary yearly meeting to be bonus of 20 per cent to contri-. held at the Society's head office butors of contributory premium, at 11 am. on Friday, April 21.
Marine
FINANCE
H. K. STOCK EXCHANGE
In spite of the trading hours be-- ing limited to the morning, a fair Bamount of business wijk, reported.
SHARP DECLINE The rates at which deals were put
IN MARKETS
Prevailing European Nervousness
LONDON, Apr. 12 (Beuter)—-—-
in the The sharp declines principal European Bourses came as no surprise on the reopening of the markets after the holidays.
The Paris Bourse was depressed payable on April 21, 1939. Provi- owing to a considerable volume slon has been made for this in the of selling, with Rentes declining relative revenue account.
one to two
st points, while | Amsterdam the leading stocks Profit and Loss Account · The amount at the credit of weakened up to 15 points, though uspense account. The nett pre- the profit and loss account. After nervousness was allayed somewhat miums for the year 1838 amounted providing for the dividend for the by the speech of M. Colijn.
The balance of the 1937 account. amounting to £39.930.10.8. has been transferred to underwriting
daims
41
Directors
to £988.251.15.3 and
and
year 1938, is $690,227.36. £505.460.1.3. The expenses to balance carried forward, including the additional reserve, amounts to £732,791.14.0.
Fire The nett premiums amounted to £614,297.12.11 and claims to £268.272.8.9. After taking Into "account" commission, expenses of
management and fire brigade fees, and adjusting the reserve for un expired risks, there is a credit balance of £70.077.5.7 which has been transferred to proat and loss account. The fund at the end of the year. Including the additional reserve, amounts to £335,719.1.2.
Accident and General The nett premiums amounted to £319,138.5.2 and claims to 1
895.10.8. After taking into account commission and ..expenses
of
management, and adjusting the reserve for unexpired risks, there
SMALLNESS OF SALES
On the other hand, prices on Since the last general meeting the London Stock Exchange were Mr. M, T. Johnson- and
Mr. G. marked down, not much seiling Miskin have resigned from the
pressure
British being visible. board and Mr. H. V. Wilkinson holders are mostly refusing to be D.S.O.. Mr. J. Owen Hughes and
stampeded, further encouragement Mr. C. Blaker have joined the being derived from the smallness board. In accordance with the
of Continentál sales, which, owing articles of association the Hon. to the prevailing European ner- Mr. S. H. Dodivell and Mr. H. vousness, had been expected to be Wilkinson, D.8.0.. retire but offer themselves for re-election.
BRITISH TRADERS'
INSC. CO. LTD.
much larger.
The London Foreign Exchange Market is not affected much, rates
through tend to show the market la keeping steady although the political news leaves a good, deal to be desired. ·
in the leading currencies remain- ing comparatively steady." On the other hand
for keen, bidding The following is the report of dollars is visible in Amsterdam the directors of the British where the guilder rate is main- Traders Insurance Company, Ltd.. tained only owing to the large
to be presented to shareholders sales of dollars by the Dutch Equa- at the seventy-third Ordinary Hisation Fund. yearly meeting to be held at the company's head office on Friday!
Marine
is a credit balance of £11.273.18.4 April 21, at 11.25 am. which has been transferred to pront and loss account. The fund at the end of the year, including the additional reserve, amounts to £177,854.10.1.
Dividends
The balance of the 1937 account, amounting to £8,094.12.10, has been
transferred to
reserve for outstanding losses. The nett, pre- mlums for the year 1938 amounted An interim dividend of 155. per to £197,650.7.0 and claims and ex- share was paid
to October 21, penses £100,836.8.4: The ba- 1938. The directors now" recom-lance carried forward. including mend a fual dividend of 158. per the additional reserve, amounts to share, payable on April 21. 1839. £148.814.0.8.
Contributory Bonus
Fire
butors
on
رو
บ
BUYERS
Hongkong Bank, $1340. Canton Insurance, $225. Union Insurance, $465. Douglasen, $69, Canton Ices, $0.95,
SELLERR Hongkong Bank, $1375. H.K. Electrics, $55. SALER
Hongkong Bank, $1350. Canton Insurance, $230. Union Insurance, $470/35. H.S/Hotels, $5,30,
HK. Lands, $331.
Yaumati Ferries (Old), $25.
Yaumati Ferries (New), $24.
China Lights (New), $54.
HK. Electrics, $55/544.
Dairy Farms Rts, $15 15. Philippine Gold Mining Quotations
Antamcks P9, 34
Atoks Ps., 30
Bagulo Gold P8, 211
Benguet Consolidated Ps., 11.50. Coco Grove Pa., .34 LX, L .51.
Itogons Ps., 241
North Camarines Ps.. 51' Ban Mauricio Ps. 1.78 Snyoc Ps. 16
United Paracale Ps.. .61
HONGKONG
Electrics
SHAREBROKERS'
ASSOCIATION Volume of Business Transacted on Wednesday, April 12, 1939. Electrics
186 $54.75 50 56.00 Hotels ....
1:000 5.30 Taupati Ferries (0) 100 25,00 Paracale Gumaus 5,000 PR.0.144
5,000 PB.034 REYNOLDS AND GIBSON
Philippine Gold Mining Quotations W-H-E-A-T
Antamoks With little or no demand in the Atoks United Kingdom, the market has Baguio 'Gold been dull and easier.
Quotations Benguet Consol are id, to 1d. lower than those Coco Grove quoted a week, ago.
Antamoks
Demonstratlöns
Paracale Gumaus San Mauricio Suyoc Consol United Paracales North Camarines
Market Comment-Steady.
A further sale of a cargo of Itogons Australian flour to China has been L XL reported and on Thursday it was Tumoured that Italy and Spain were negotiating för important The directors recommend A The nett premiums amounted to quantities of Danubian wheat. The bonus of 20 per cent. to contri- £122,859.10.7 and claims to £51.- quantities mentioned were 90,000 of contributory premium, 254.9.9. After taking into accoun: tons and 100.000 tons respectively. payable on April 21, 1839. Provi- commission, expenses of manage. These reports had little effect on ston has been made for this in ment and fire, brigade fees,
the market and cheaper Austra- the relative revenue account, adjusting the reserve for unex-.
lan offers and more pressure to pired risks, there is a credit balance of £14,015.9.1 which has been sell Argentine wheat caused a re- transferred to proat and loss account. The fund at the end of the year, Including the additional reserve, amounts to £69.143.16.3.
Profit and Loss Account
The amount at the credit of the profit and loss account, after pro- :viding, for the dividends for the
year 1938, 19 £290,562.0.4.
Directors
Since the last general meeting Mr. M. T. Johnson and Mr. G..
and
sumption of the sagging tendency.
Weather news this week has been mainly favourable. In the USA moisture has been ample and beneficial except in parts of Oklahoma and West Central Texas. The latter areas need rain badly.
Accident and General The nett premiums amounted to Miskin have resigned trom, the £63,827.5.1 and claims to £35.-The Secretary of Agriculture sug- board and Mr. R. V. Wilkinson, 779.2.1. After taking into account gests that the 1939 crop of Winter D.S.O.. "Mr. J. Owen Hughes and commission and expenses of man- wheat
may total 485 million
Mr. C. Blaker have joined the agement, and adjusting the re- bushels. Spring wheat on the in- board. In accordance with the serve for unexpired risks, there is dicated acreage and subject to articles of association the Hon. s"credit balance of £2,254.15.4 normal weather conditions may Mr. S. H. Dodwell and Mr. H. V. which has been transferred to yield 20 million bushels. A total Wilkinson, D.8.0., retire but offer proat and loss account. The fund crop of 685 million bushels would themselves for re-election.
at the end of the year, including equal average domestic require. the additional reserve, amounts toments. 235,530,18.0.
CHINA FIRE INSC.
CO. LTD.
Dividend
As regards India, the weather has been favourable for harvest- aing which is proceeding rapidly. perBroomhall's correspondent esti-
The directors recommend, The following is the report of dividend of seven. shillings the directors of the China Fire share, payable on April 21, 1939. Insurance Company, Ltd., to be
Contributory Bonng The directors presented to shareholders at the
recommend seventieth ordinary yearly meeting bonus of 20 per cent. to contri- to be held at the company's head office on Friday, Aprli 21, at 11.20
1.01.
Marine The balance of the 1937 account, amounting to $65,301.31, has been transferred to reserve
mates this year's crop as 356 mil- Hon bushels, compared with the final oficial estimate 'for last year of 402,400,000 bushels. butors of contributory premium, A return of cold conditions and payable on April 21, 1939. Provi-low temperatures has been report- sion has been made for this ined in many ports of Europe and the relative revenue account.
field work has in many instances been temporarily suspended.
Profit and Loss Account The amount at the credit of the out-profit and loss account, after pro- standing losses. The nett pre-viding for the dividend for the miums for the year 1838 amounted year 1038, 1s £53,005.12.3.
Fire
for
Directors
The Chicago market was at first subjected to some liquidation but steadied when it became known that the U.S. Government. bad given an assurance that wheat
to have taken 10/11,000 tons of No. 3 Northern Manitobas for shipment at the opening of mavi- gation.
to $1,594,480.22 and claims and
to expenses
$813.469:31. The Since the last general meeting taken over in respect of defaulted balance carried forward, including Mr. M. T. Johnson and Mr G. loans maturing from April 1 to the additional reserve, amounts to Miskin have resigned from the June 15 will be used solely for re-
beard and Mr. H. V. Wilkinson. lier and export purposes. $1,184,382.25.
DE.O, Mr. J. Owen Hughes - and The undertone in Winnipeg re- The nett' premiums amounted Mr. C. Blaker have joined the mains quiet. Norway is reported to 3991.135.73 and claim to $413,- board. In accordance with the 481.62. After taking into account articles of association the Hon commission, expenses of manage- Mr. & H. Dodwell and Mr. H. V. ment and fire brigade fees, and Wilkinson, D.S.O., retire but offer adjusting the reserve for unex- themselves for re-election. pired risks, there is a credit balance of $113,085.88 which has been transferred to profit and loss ae- count. The fund at the end of the year, including the additional "re- serve, › amounts to $557,798.83.
Accident and General
The market if likely to contine to be influenced by day-to-day
U.S. COMMODITY conditions, particularly politics.
BARTER PLAN
The nett premiums amounted to Generally Approved
$514,908.90 and claims to $288.- 638.19. After taking into account commission and expenses of man- agement, and adjusting the re- serve for unexpired risks, there is a credit balance of $18.189.56 which has been transferred to proft and Josa account. The fund at the end of the year, including the addi tional reserve amounts to $286,- 635,83,
Dividend
By Congress
are.
NEW YORK, April 12 (Beu- ter)Commodity circles awaiting, with great interest, the details of the commodity harter plan proposed by Sena- tor Byrnes yesterday, though at present little comment, is
An UK four booking should, how- ever, not be very far off and there- fore there, should be some increase in demand, if only temporarily,
Stocks of wheat in Liverpool: This week 902 loads, last week 830 loads.
strongly favouring it, as long as cotton is bartered at the current market price.
According to Benator Dow Jones, consummation of the plan fer- pected, by Informed officials to result in the export of about
The plan seems to be general-5,000,000, bales of cotton against
The directora recommend a divily approved by members of Con- which up to 800,000 long tons of dend of $12 per share and a bonus gress, with the cotton senators] rubber might be acquired.
35.
31..
25
11.50
35
131
25
52.
141
1.82
16
286
50
THURSDAY, APRIL 13, 1939. -PAGE 11
HONGKONG SOCIETY FOR THE
PROTECTION OF CHILDREN.
under the distinguished patronage
of
H.E. SIR GEOFFRY NORTHCOTE, 1.0.M.G,"
AND
LADY NORTHCOTE
The ANNUAL BALL
Maldon
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will be held at
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ON
FRIDAY, APRIL 14
AT 9.30 PM.
Tickets $4.00 each including Supper
Tables can be reserved at Hongkong Hotel” or Peninsula Hotel.
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THURSDAY, the 13th APRIL, 1939
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