1941-06-26 — Page 2

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PAGE 2-HONGKONG DAILY PRESS

Canton Insurance Office Annual Meeting

STATEMENT OF ACCOUNTS FOR YEAR MOST SATISFACTORY

AN IMPROVEMENT in the 1930 account of $137.785 on that of 1938. and of $740.404 In the working account of 1940 on that of 1939, was reported by the Chairman of the Consulting Committee. Hon. Mr. J. J. Paterson. at the Sixtieth Annual Meeting of The Can- ton Insurance Office. Ltd., held in the offers of the General Agents. Messrs. Jardine. Matheson & Co., Ltd., yesterday.

Supporting the Chairman were Hon. Mr. M. K. Lo. Hon. Mr. T E Pearce, Messrs. D. E. Clark, A. B. Compton. P. H. Suckling and S. T. Williamson (members of the Consulting Committee), and Mr. F C. Ball (Secretary),

D

C.G. SILVA TO

GIVE UP BOWLS

C. G. Suvs, Recreio and Inter-

SPORTS & GENERAL

WM. POWELL MTC.:

Difficult Trade Conditions Reported By The Chairman

port lawn bowler, has decided to The annual meeting of Wham Powell. Limited, was held yes- give up bowls for the rest of theterday at the registered office of the company, Windsor House, Mr.

E. W. Raymond being in the Chair. season, acting his doctor's ad- vice.

He bas scratched from the Open Singles and Pairs with J. E. No- ronha competitions, but there is a possibility of his having a trial In the Open Rinks to ser it be "can stand the strain."

•

The Chairman, in his address, commented on the fact that the accounts placed beture the meeting showed a satisfactory result of the year's trading, and the balance from the General Working Ac- count for the year showed an increase over last year of approxi- mately $5.009.

year

THURSDAY, JUNE 26, 1941. GOVERNMENT JOBS ARE TOO TEMPTING!

Coincidental with the reported shortage of labour in Penang harbour, the Malaya Tribune learns that there is also a shortage of harbour “hands" in Singapore at the present, although this shortage has not yet reached an acute stage.

The shortage is felt particularly The war-time Jobs are only 1h the case of Chinese labourers, temporary, one informed quarter although at the same time there is predicted, and it will not be very also insufficient. Tamil labour. long before the labourers now

The shortage, inquiries reveal, is employed by the Government, an however, considered only temporary, completing their work, will have to it being due mainly to the recent return to their old jobs. rush made by labourers for time Government Jobs Jobs like barricade construction, evacuation

war-

LAND TAX

LWO

Trading conditlus during the the conservative polley which they had been difficult and the jhave followed dug Ls past question of stock replacements, the year or two should be continuea. G. H. Sherin, K.B.G.C. skip, has Chairman said, had given the For this reason they recommend huts building, and handling of war withdrawn from the Colony Lawn Directors some cause for concern that of the balance at Credit of goods delivered from the United Shareholders present WATC Mr Baker from working. whereas in Bowls Pairs championship, which By far the greater part of the Profit and Lose Account Available States

and Australia at the Stea 1937 WE 8 Hampton Ross. Mr

were able to finance albe entered with A Hyde-Lay, and stock had to be imported from for appropriation the sum of $10,-wharves.

After heated debates at venson. Mr Ho Kom-tong, Mr. Msimilar amount entirely mit of in his place has been taken by J. N. England and orders had Lo be 000 should be placed to General

'sessions of the Third National The better wages paid by the Finance Conference, a W Lo. Mr Horace 1. Mr. Ho Bal-come from Interes! and with Wong. of Kowloon Tong

placed with the company's agents Reserve which will then stand at Government for labourers in these

resolution cheung Mr J Fleming. Mr P $182,000 to spare.

and suppliers there many months $31,000. I trust Shareholders will war-time jobs. It is pointed out. to collect land tax in kind begiu- Tester and Mr D Hung

in advance.

approve of this recommendation act as a lure, to these labourers, ning from the latter half of the

current теат and also of the recommendation to who thus leaves their old jobs for

Was ananimously pay the satne Division and Bonus the new.

passed at the 5th plenary session as last year, viz 20 cents per share Nevertheless, 1 is stated that it yesterday morning,

.

CHAIRMAN'S SPEECH

The

eat balance

$2,629,370 at AS Auffled, who has been play credit the 1950 account allowsing regularly in Indian Recreation Third Division League in the course of his speech, the of the payment of an interim diri Club's

dend of $5 per share for that year, bowls team since the beginning of Chairman said:

leaving an amount of $2,370,370 !the season will not be able to take be carried forward

CHAIRMAN'S REPORT

Mr. Raymond said: Your Directors we mezsed

Gendetnet. brtore proceeding with the formal business. I weak!! first explain that the delay of m months hoiding this meeting is! due to the late arrival of returns without which would have been impossible to complete the C counts in anything like their cus Lomary form

HOPE REITERATED

i

You will pardon me 1 Kây ho more, but to be quite frank 87 think of nothing usetui to add reiterate my hope of last year that i when next we meet it will be in happier circumstances

I feel assured of your approval

part in the game for a couple of place before you accounts showing and 10 cents per share respective is still possible although not with- The resolution which revives an weeks owing to a recurrence of such a satisfactory result of the

foot trouble

LAWN BOWLS

1y

BALANCE SHEET The balance from year's trading. General Working Account for the

Turning to the Balance Sheet year shows an increase over last will be noted that the value of year of approximately $5,000. stocks on hand is approximately Against this however new item $13,000 greater than last year. of expenditure appears in the Pro- This has to a large extent been

SELECTIONS nt and Loss Account in respect of brought about by the general in-

Further. I wrld here wish 16. express the regres at the General, of the donation of $25.000 to the The following are some tub selve Agents and Consulting Committee, South China Morning Post Bomber tions for Faturday's programme in the

Mr the resignation of

7 H Fund which was made last Jute Lawn Bows Leag his retirement from and

will Taggart n

ser has been the Colony owing to health, debited to the 1940 account With RECHEIO

at

15

FIRST DIVISION

J

!

out difficulty, for labour contrac- ancient Chinese system is a war- tors to carry on the ordinary har- time measure to regulate the sup- bour work without much interrup- ply of army and civilian food —

on and delay.

(Central News).

War (Taxi far the Taxation crease in prices of goods during years 1940 41 and 1941 42

the past year. Stocks have been TAYLOR'S LONDON OLD TOM & DRY GIN.

Tax for the year 1940 41 conservatively valued and are mounting to $2 387.70 which was readily saleable

tised on the Company's Profits Sundry Debtors are appro- 1.12 Cat Mur-fur last year has been paid. In ximately the same as at Feb. 29. addition to this charge your Direc-1940. Full provision has been

Mr Taggart served on the CumL your agreement, we proposa 15 ques, J.E Noronha, A Alves rakipl mite tram November 1831 until donate a similar sum from the 1. P. Xavier, CM Silva, PV 1 la 10. tory have considered it prudent to mide for doubtful debts and the current year's tunds to help the X Stive ship. FX Senres Cmake full provision for Tax for greater portion of the debts out- bomber fund's second year

February this year and during that

in his valued support and ad

were always at o disposti:

$147

1 have an explanation to make

is connexion with the resolution

Roza Povora. PVV Retro, RF Lathe Taxation year 1941'42 which standing has since been collected i (skip

I am sure you will be glad to know that his health has greatly im proved since he arrived in Coll relative to the re-election our PA.

ra

"B"

that will shortly came before you

RECREIO

Lopes, JJ Buste skip Basto, CA

Marhado JC «Rezydlos E

CVRA A M

DC Alves. CJ

will be based on the Profits of the

any

I do not think there are Company for the year to Feb. 28, further items in the Balance Sheet 1941

|wlt}ch call for particular com - This has been estimated at $4,-]ment.

I am pleased to intermauditors, Messrs. Lowe, Bingham & Souza 1J Siva (skip you that Mr P H Suckling has Matthews and Percy Smith, Seth Xavier AM Rodrigues AP Cuterres 300 accepted our invitation to f: the& Fleraing Owing to the many vacancy on the Committer

SATISFACTORY ACCOUNTS

السلام اوليه

fadditonal calls

nake

upen them. It was decided in May last

(skip)

WIRD DIVISION

RECREJO

P year to augment their tees by $500 A.A. Hoza, The Statement of Accounts for per frm to date back to January: Sequeira, H.M Xavier, FX Monteiro, the year 1939 which we now pre-1, 1940, but as it was then too late M. Carvalho (skip: GA Pinna LA Merit to you is. I am pleased t

to obtain your confirmation, the Razarlo. Mi. agreed increases bave Tot been

say.

a most satisfactory one, the balance of $1.386,855 I am one-paid. T regularise the position 1! Ung all cents being an improve shall be glad if Mr. D V. Steaven- ment of $137.785 on that for 1938

when proposing the re-eler- and this in spite of further re-ton and increase wil make the ductions in premtum and interral latter retrospective to the begin- of $299.415 and $61 062 respective.

ly

The ratio of losses fell from 54.27 per cent. 44.80 per cent.

son

ning of last year.

}

(skip

Mendoncs M.F Anny

BOWLS PAIRS RESULTS

am

REPORT PASSED

The net Profit for the year In conclusion 1 would like to carried to the Balance Sheet after take this opportunity of thanking making this proviston shows a de- Mr. Overy and his staff for their E. Cranbe, H. Pina crease of approximately $600 services during the year. I feel 1

Yeanovich (skip Flast year.

wishes expressing the

of Shareholders in TRADING CONDITIONS

doing so. The i Trading conditions during the staff has carried out their duties admirably under difcult circ 0- past year have been difficult und

stances. as indicated in my speech from

I will now propose the adoption the Chair last year the question of

of the Report and Accounts as pre- stock replacements has given your

when this has been sented and Directors some cause for concern.

pleased seconded I shall be

to Dy tor the greater part of our stock is Imported from England answer to the best of my ability any question Bhareholders may Only three matches in the First and orders have to be placed with OTHER BUSINESS

wish to ask. Round of the Open Lawn Bowls our agents and suppliers there Chairman proposed. and Pairs championship were played many months in advance.

Kom-tong seconded, the jand following are the results:

The difficulties

Jotaining Mr. J. C. Baunders seconded the At Kowloon B.G.C.. H. Spong shipping space from England to adoption of the report and state- and E. Levett beat E. A. Altkens Hongkong in these troublous times ment of accounts.

are well known and your Com- Proposed by Mr. H. Overy ana At Kowloon Docks, B. White and pany has not been any more for- seconded by Mr. P. A. xvanovitch, was re-elected a J. Hall lost to C. M. Silva and tunate in this respect than other Mr. 8. H. Ross to be highly satisfactory

concerns in the Colony. It is with member of Board of Directors. muen has yet to be paid out members of the Consulting Com-F. X. Soares 12-19.

by Mr. Ross wid At Kowloon FC., H A. Alves and considerable satisfaction therefore Proposed J J. respect of second year losses and milttee, with taxation: it is impossible in these, Paterson as Chairman. on the pro- F.V.V. Ribeiro beat JN. Wong and that your Directors can lay before seconded by Mr. Overy, Messrs. Lin-

you accounts showing, such a good stead and Davis were re-elected | times to make forecasts and any pusal of Mr. M. W. L. seconded A. Hyde-Lay 20-12

auditora. result of last year's trading. attempi on my part would be by Mr. P purely

This guesswork.

account discloses a yet further shrinkage in interest of $87,958 when com- pared with 1939, also at the end of twelve months

while that for charges ruse frunti The 30 20 per cent to 32.50 per cent Mr He

The balance at credit of work-adoption ing account 1940, as a Dec 31 last

أن

the Report and Ac- corints

Messrs D. E. Clark, A. H Comp stood at $2.629.370. an increase of $740 484 m that for 1839 at the ton. PH Suckling. S T. Willem-And J. G. Meyer 20-12.

son Hon. Mr. M. K. Lo and Hon. Mr. T. E. Pearce were re-elected

same stage. Although

pears

this ep-

INCREASE IN ASSETS

Scrutiny of the Balance Shee! will reveal the fact that the total of assets has risen by $1,343,113, or £83,245 as expressed in sterling This is mainly due to increased cash and agency balances agalust which must be set our now reki duced holdings of mortgages, loans and debentures. On the debit side

the

Teater.

Hon. Mr

Mr

Steavenson proposed. D V that Messrs Lowe, Bingham and Matthews,

and Messrs. Percy

Smith. Seth and Fleming be re- ! elected auditors, and that their

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TENNIS TITLE FOR WEBB

vi

J W

Present were Mr. 8. H. Ross, I may say that in spite of the difficulties being experienced the Director. Mr H. Overy. Managing Alexander. turnover to date

very 'Director, Mr. compares favourably with last year. In view Secretary, and Messrs. J. C. Saun-. Sergeant J W Webb, Army however of the uncertainty of the dera and P. A. Yvanovitch, Share- fees be augmented by $500 per firm cricketer and RAMC. footballer, futute your Directors consider that holders. to date back to Jan. 1. 1940. This has won the Medicals' Handicap was seconded by Mr. Horace Lo Singles tennis tournament, beating and carried unanimously.

RAJPUT REGIMENT

BASKETBALL

Owing to

www...FR

Pte. Gunson -10 in the final by 1-6, 6-2, 4-6, 6-3, 6-0

MISUNDERSTANDING

WATER-POLO SCORES

¡SPORTING

FIXTURES

*TODAY

Fourth Division: PO.

Playing in the European V.M.

TENNIS.

R.C. (2) v. A.T.C., C.C.C. v. P.O. RC. (1), B.C.A.A. v. J.R.C. C.R. C. v. C.B.A KIT.C. v. I.R.C..

Due to some misunderstanding. C.A. Invitation water-polo tourna- the hat weather the the Army Tennis Club falled to mient last night, Combined small the main differences will be found sporting activities at Hankow turn up for their Second Division Unite defeated in respect to the investment and Barracks, where the 57th Rajput Tennis League game against Chi- "D" by 4 goals to one.

the Royal Navy Macdonald exchange fluctuallem and under-Regiment are stationed are some-nese Recreation Club at Causeway (2). Knightley and Thorley scored writing suspense accounts. to what curtailed, the only tourna on Tuesday. gether with material increases in ment in progress at the moment were present. the figures of accounts payable being the Inter-Platoon basketball and the balance from the two competition. working accounts.

According to Capt. N "S. Cole.

The Chinese team for the winners, while Hall replied WATER-POLU European Y. M.

Combined Royal Artillery are

for the Navy.

In the Army prol, Royal Scots "C" shared four gout with 965 R.

As customary all investments Sperts Officer. the inen are taking applying for admission to First A. L/C Hunter and Lavidson pet- and mortgage loans have been things easy until the cooler wea- Division of the Football League ted for the Royals, and Langridge brought into the accounts at or ther sets in, when hockey will be and will enter seven teams in Third and Pidgeon equalised for the gun- under the market prices or face | resumed values ruling on Dec. 31 last.

INTEREST INCOME DOWN

I trust you will have taken due cognisance, of the serious decrease In income from interest. Were It not that the account for 1939 looks so healthy, as does the carry for- ward for 1040, your Committee would have been dublous about re- commending 1 dividend on the same lines as last year. The days when we could readily obtain a return of 8 per cent to 8 per cent. on our tanda are now gone and who can say If they will ever re- turn.

The surplus to be dealt with from the 1939 account is $1,300,- 085, out of which has been palu an interim dividend of $5 per share. We now recommend a final payment of 37 per share-making in all $1 per shareWhich will absorb #000,000 md the transfer of the balance of $166,065 to under- writing suspense socount to close 1939 and previous years. Thin payment necessitaton $10,830 being {

Division.

KIM SHING CUP

The above is a photograph of the organisers and competitors in the "KIM SHING CUP" basketball on roller skates competition which was concluded on Tuesday. The ploture was taken, aż the Kowloon Skating · Hink, Mongkok, and shuted, second from the right, In the middle row is Mr. K. C. Chong, manager of the Rink.

On his left, is Mr.. Wong Lai-tong, Who refereed all matches played in this League-(Mayfair Bindio).

ners.

CHESS RESULT

In f match In the Colony Junior Chess championship tourna- ment, played on Tuesday night at the Peninsula Hotel, V. V. Kolat- choff best E M. PetroVC.

Although it la understood that Royal Navy will be competing only in First Division of the Football League, they may also enter a team in Third Division.

With the object of selecting their representatives for the charity swimming gala on Saturday, July 20, against Combined V.R.C. and Y.M.C.A., Combined Chinese Clubs are holding & gala on Sunday, July 8, at 7 pm at the Chinese Bathing Club, North Point.

CA V. 36th Battery, R. A. (Army pool), 7.15 p.m.; Navy "A" v. Royal Scots "A" (Army pool) 7.45 p.m.; Royal Corps of Signals v. Middlesex "A" (Army pool), 8.15 p.m.; Navy "B" v. Combined Smali Units pool), 7.15 p.m.; Navy "C" Royal Scots *Re {"Y" pool), 7.45.p.m.; Middlesex "B" v. 985th Battery, R.A. (“Y” pool), 8.15 p.m.

V

V.

SATURDAY, JUNE 28 BASEBALL. —- H.B.· Baseball Club

v. 8.0.A.A.. 2.15 p.m.; R.E. Chung Hwa, 4.30 pm, LAWN HOWLA. — First Division: Recreio "A" V. Kowloon Docks R.C. Cralgengower v. Civil Ser- vice, Kowloon 0.0. v. Indian R.C., i Police R.C. v. Kowloon B.G.C.! "P", Recreio "B" V. Kowloon B.G.C. "A". Second Division: Hongkong 0.0. v. Kowloon CC.. Kowloon, Tong v. Craigengower, Prison 0.0. Kowloon F.C..

V. H.K.FC. v. Talkoo R.C. Third División: Kowloon 1.0.0. V. Hongkong. P.C., Kowloon F.C, v Pollte R.O., Indian R.C. v. Hong- kong O.C., Hongkong Electric v. Retrolo.

SUNDAY, JUNE 29 BASEBALL - HLB, Baseball Club

v. Royal Engineers, 4.80 p.m.

SUPERLATIVE

London Dry

TAYLOR'S

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Q

SUAL-TY

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Obtainable at all Clubs, Hotels & Wine Stores.

So'r Agente:-

GANDE, PRICE & CO., LTD.

St. George's Building. 2, Ice House Street,

Tel. No. 20185.

HONG KONG.

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