1917-12-12 — Page 5

A HISTORIC COMPANY,

Some Facts Concerning the Usion Insurance Society

of Canton.

GOLF.

The Christmas Competitions-

The Captain's Cup Competition for D-cember was won by Mr. Anextremely interestingontline B. J. Birbeck and the tie for the of the brilliant commercial history | play. ff is me follows:-- of the Union Insurance Society, Bye:-R. J. Grist v. M.`A: of Canton, Ltd., was given at the Marray, Supreme Court this morning,

R. J. Birbeck v. A. B. Purvis when the Hon. Mr. E. B. Sharp, J. Hooper or O. C. Stark, F. J. K. C., on behalf of the Society, de Rome; A. Ritchie . B. M. applied to the Chief Justice (Sir Henderson; Eldon Potter v. J. O. William Rees Davies) for con- Fletober. firmation by the Court of certain alterations of objects in ita" Mem- The orandum of Auscoiation. alteration has been duly passed and confirmed by a special re- solation of the Company.

Mr. Sharp said that the petition which was before bis Lordship had been signed by Mr. Ede, the General Manager, and by hir. Holyoak sad Mr. Lang, Directors. He proposed to give bis Lordship

THE HONGKONG TELEGRAPH, WEDNESDAY, DECEMBER 12, 1917.

SANITARY BOARD..

Blocesan School Water Supply.

At the Sanitary Board this afternoon correspondence was considered relative to supplying water for flashing proposed trough closets at the Diccssan Bɔye' School.

Mr. C. G. Alabaster minuted that water from the mains should not be used.

Hr. F. B. L. Bimley minated that the school was a boarding, school and was therafare on s different footing from other Gov- ernment schools. He thought the

Bre:-W. D. Kraft ; L. J.application should be granted. Blackburn,

First round to be played off be- fore Monday, Jan. 14.

Second round to be played off before Monday, Jan. 21.

Semi-final to be played of be- fore Monday, Jan. 28.

Final to be played off before Monday, Feb. 4.

Mr. Oban Kai-ming thought| that the application should be refused, unless the nenal condi tions were complied with,

Mr. Ng Hon-tee agreed with Mr. Alabaster,

The Chairman (the Hon. Mr. Chatham) said there seemed to be a diversity of opinion on the For the Christmas Holidays be treated as a special case, for matter, but he thought it might there will be an Eclectic Com-the conditions were altogether an outline of the history of the petition for men over the 18 hole exceptional. He moved that the Society, and state reasons for the course and for ladies over the Board recommend the granting alteration of the Memorandum, Relief Course from Saturday, of the application. with some reference to the financial Dec. 22, until Wednesday, Dec. position of the Society. The Society 28, sad a Bogey Pool Competition ing the school

Mr. Bawley seconded, my. was incorporated in ita present for men over the 18 hole course availed"

THE much form in 1882, but existed long for the same period, and a Medal Eurasian and

of by British. before

Obinets boys that date. It WAE Competition for ladies over the and bad been established for a originally started in Canton as Relief Course of 9 holes on Saturnumber of years. It had always early as 1835, is what were called day and Sunday Dec. 22 and 23 received good reports thefactory days," by a group

from In addition to the above there the Education Authoritia and of British merchante, and from will be a mixed foursome com was recognised, as one of the that time until the present ita petition over the Relief Couree of best schools for the teaching of shares bad been mainly held by 9 holes commencing on Saturday English in the Colony, The British subjects. The Company Dec. 22 and finishing on Christ ordinary practice in the cir was essentially a British concern. mas Day, Dec. 25, On Buxing amstances was to sink a well, In 1841, the cession of Day, there will be a mixed four- but this course was not followed Hongkong to Great Britain, the soma competition over the 18 hole because it was hoped to remova business was transferred from coarse, Medal play, to be played the school at an early date to Canton to Hongkong. The aqy time after noon: a silver cap better premises, and the sinking Society had had a career of extra-bsa been kindly presented by Dr. of a well would be a waste of erdiaery success. Its progress Moore Grahem, of the a.. and expansion had been contina-prees of Asis," for the winning cue and were still increasing. lad -. By sound basiness methods, it had schieved a position which was in many respects anique. The ori- ginal paid up capital of the So- iety in 1835 was a quarter of a million dollars, with authorised capital of $1,250,000. To-day the authorised cspital was $4,000,000, of which about $1,500,000 was paid up.

on

Ia

"EWO COTTON CO

"Em-

A Dividend of Twenty Taels.

money.

Mr. Alabaster argued that there was no reason for making an exception in this case, more parti colarly as it was suggested ibat| the school did not wish for any great length of time to make are of the concession. Should they l within a few months time leave the premises, the premises with these public facilities would be available

to any tenant who might apply to mɛe them. If `

addition, the Society bad Masera. Benjamin and Potta there were any urgent need the accumulated Reserve Fanda of have received the following cost of sinking a well was not over $4,500,000, besides its advice from Shanghai:-The Ewo

a total

mises oessed to be occupied sa a withdrawn. eobool the permit would be

uncalled capital of early Cotton Spinning and Weaving Srest. He must adhere to the $2,500,000, making what were Co., Ltd., has declared a dividend principle he had always adhered pratically reserves amosating 10 of Tis. 20 for year ending be used.

to-that public water should not of about $7000,000.(31 October, 1917. The met The profits of the Society as profit is Tie. 854,000, which would be made that if the pre- The Chairman said a proviso distributed among abaretoldera it is propred to deal th were similarly interesting. Sincess

follows:-To write [ 1871 tbe Soiety bad paid in plant, machiners, buildings,, etc, div.dende over $11,000,000, and Tle. 125.000; to place to Reserve prior to that date a foriber large Fund Tie, 150,000; to place to amount, of which he had no Equalization of Dividend Fand figures there. Twice during Tis. 125,000 to place to Repairs the last few years-in 1895 and Renewals Tie. 50.000; to and 1993-be paid up capital place to War Fande $50,000; bad beep increased out To pay & bonas to staff Tis 20,000; of surplus profite, without and carry forward to new account any call whatever on shareholdere, Tle. 4,000.

by doabling the value of the

shares; the first time from $25

to $50 a share, and afterwards

from 50 to $100 per share.

sageta

These were bonoses which the in various ways Daturally prafer- shareholdere of few Companies ed an office which undertook had enjoyed, amounting as they insurance generally, rather than did to three-quarters of the value having to get separate policies of the shares. That these large with different offices each restrict dividends and bonuses had noted to one kind of risk-marine impaired the Society's security ri-k», fire, accident, workmen's was manifest from the fact that compensation, and employer's daring the last nina yesra italiability. All these kinds of had been more than inearance were now commonly doabled. The Socisty had from done by the same company, al- time to time extended the sphere though formerly only by separate of its operations by e tablishing companies. The companies with branches in London; Shanghai reatriotad "objects were handi- and other places in Coins, the capped nowadays, and the older Straits Settlement, Japan, India, companies, like the Society, had Australis and New Zealand, been extending their objecte, no Canada and elsewhere. So that as to compete on level terms with to-day the Society had actual | newer companies possessing branches scattered отег the wider powers; and the Courts at greater part of the world, and, Bome and in Hongkong had of course, agencies erec more sanctioned such enlargements, widely. Mr. Ede, the Gen. The proposed alteration extended eral Manager, who has been the Society's objects to all kinds connected with the Society of insurance except

the for altogether 34 years, bed, for issue of policies of: Jife the last ten years, been in obarge insurance,. i.e. ordinary life of its affairs, and he (Mr. Sharp) insurance basiness, which the "might say that the period since Company did not ask for. In Mr. Ede assumed control had conolasion, the alteration would been the period of the Society's enable the Society to carry on its greatest expansion" and success, business more effectively, and to This brief survey of its carry on certain basines which, bisory Bad financial position onder exieling circumstances, showed that the Scolety had might conveniently and advan ospital and asseta amply soffiageously be combined with ite. olent for its present sad pro- prasent Easiness. All the pre posed additional basindes. He liminaries bad been complied would point out to His Lordship with,||

that the modern tendency waS Bia Lordship remarked that towards what he might term the history of the company "comptaite" insurance companies, was very interesting and the People who wanted to be insured application would be granted,

The motion w agreed to.

A Unique Dlaner, thropologist from the University Dr. Frederick Starr, a noted an- of China this year, sailed from Yokohams recently for America. Before leaving he was given a rather unique dinner by the No- saten Society which promotes pilgrimages to famous temples in Japan.

SAKURA BEER

Co

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No. I HAMPER.

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1 bottle Champagne, "Victor Clicquot," Quart

1

163

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2

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1 phial Pomeranzen. Bitters

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D.U.M.

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Whisky, King George IV or Perfection.

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