1927-03-28 — Page 5

BIGGER DIVIDEND.

INSURANCE COMPANY

PROSPERITY.

SHAREHOLDERS' MEETING.

A surplus of over half a million dollars was reported at the fifty- eighth annual meeting of the Hong- kong Fire Insurance Company, Limited, and it was

announced

that the balance standing at credit of the 1926 working account on December 31st was $670,786.68, constituting a record in the his- tory of the Company.

The Hon. Mr. D. G. M. Bernard. was in the chair, and there were also present: Sir Robert Ho Tung, Mr. A. II. Compton, Mr. A. S. Gub- bay, Mr. T. E. Pearce, Mr. H. P. White (consulting committee), Mr. F. C. Hall (secretary), Messrs. C. S. Remedios, Ho Leung, A. H. M. da Silva, J. Arnold, R. L. Bridger, G. V. Osmund, P. Toster, D. V. Steavenson, P. Plage and J. H. Taggart (shareholders).

The Secretary. read the notice convening the meeting

Chairman's Specchi

"

The Chairman said:-Gentle- men, before commencing the busi- ness of this Meeting I wish to re- eerd the deep regret of your gan- eral managers and consulting com-. mittee at the death of Sir Paul Chater, C.M.G., which occurred on the 27th May last year. Sir Paul Chater first took his seat on the consulting committee in the year 1886, and during the subsequent period of 40 years le devoted much, care and attention to the welfare of this Company, contributing largely to its present state of pros- perity,

The report and accounts having' been in your hands for some days I propose, with your permission,

to follow the usual custom of tak- ing them as read. -

..

Comparative Figures.

The result of our operations for the year 1925, now under review, has, am pleased to say, again been successful, the account hav- ing been ran off with a credit bal- ance of $520,101.49, which figure compares very favourably with The those of preceding years. premium income and interest show the substantial increases of $70,-

·000 and $30.000 respectively. The ratio of losses is somewhat higher at 17.10 per cent. as against 43.25 per cent. for the year 1924, while that for charges is approximately the same, viz:-38.72 per cent. as against 38.51 per cent. for the pre- vious twelve months.

The balance standing at credit of the working account for 1926 is $670,786,68 which constitutes a re- cord; the previous highest figure was $631,393.38, for

the year 1922. Though it is premature, at the moment, to forecast the final result of this year's working, we have every reason to anticipate a successful outcome.

Increased Dividend.

"The surplus to be dealt with at this meeting is $529,101.49, and we recommend the payment of a dividend of $40 per share-an in- crease of $2 per share over the last dividend-absorbing $320,000, and the appropriation of the bal- ance to the Reinsurance Fund.

The various reserves call for little comment. They have all appreciated with the exception of the investment and exchange fluc- tuation account which, though still standing at the very substantial figure of $356,258.80, is less by $119,578.44 than at the same time last year. This decrease is due to shrinkage in the market values of our gold and silver investments and to the high rate of exchange ruling between Hongkong and Shanghai, on the 31st December Jast, As an offset, however, to these adverse factors there has been the very considerable fall in sterling exohango.'

Bonus to Staff.

You will, I trust, approve of the usual bonus of 15 per cent, on their salaries being granted to the staff.

I do not think there is anything further in this account which re- quires my special attention but after the resolution, which I am

THE HONGKONG TELEGRAPII,

BIAS BAY EXPEDITION.

FIRST PUBLISHED PICTURES OF

OPERATIONS.

The pictures given below are the first to be published of last Wednesday's naval expedition against the pirates of Bins Bay. The pletures were taken by a member of the expedition. All photo engraving by S. C. M. Post,

This picture shows how completely were the houses of ".

the pirate villages demolished.

Snapshot taken during the burning of the houses, Naval men can be seen at work under the direction of a leader.

A close-up view of the effects of a demolition charge

among the housea of the village,

Sampans and junks were set ablaze and can be seen

burning down to the water line.

This view is of the raiding party returning to their ships after the raid. Picture taken from the stern af H.M.S..

Marazion,

about to propose, has been duly A. 5. Gubbay, T. E. Pearce and seconded, I shall be pleased to answer to the best of my ability, H. P. White were elected to form,

any questions which shareholders with the Chairman, the Consulting may wish to put.

SMALL FIRE.

I new propose the following re- Committee for the ensuing year, TWO ENGINES CALLED OUT.

solution:That the Report and on the proposition of Mr. R. L.; Accounts as presented, including Bridger, seconded by Mr. A. H. M. the payment of a dividend of $40

per share, the transfer of £20,474 | da Silva.

MONDAY, - MARCH 28, 1927,

A. P. C. THEFTS.

MORE SENTENCES

IMPOSED. é

TO-DAY'S SESSIONS TRIAL.

The force used on mo would have induced me to sign in answer to a charge of murder" sald Chinese named Chan Chin-kwal, alias Dick Chan, when charged with stealing a cheque, a blank cheque form, and uttering forged cheque, before Mr. J. R. Wood, acting Chlef Justice, at the Criminal Sessions this morning.

The prisoner, who was formerly employed by the Asiatic Petroleum Company, was charged on two other counts on Monday last, when he was sentenced to one year's and two years' imprisonment with hard labour, the sentences to run concurrently.

This morning he was further charged with stealing a cheque for $15, drawn on the Hongkong and Shanghal Bank by Miss D. L. Gatty, an employee of the A.P.C. and also a blank cheque form be- longing to Mias Gatty. There was a second count of uttering a forged cheque for $50 with Intent to defraud. ...*

Force Denied.

Both last Monday and to-day the prisoner alleged that the police forced him to sign statements, but this were denied.

The Hon. Sir Joseph Kemp, KC.. Attorney General, who is prosecut- Ing for the Crown, said the cheque for $15 was the property, of Miou Gatty, and the $60 cheque which was passed at the Bank was forged in her name.

The prisoner was employed at the A.P.C. in February of this year, and on February 8th, Miss Gatty missed two articles on going to a locked drawer in her desk. One was the cheque for $15, and the other was a blank cheque form. On the previous. day, some- one had passed, at the Hongkong and Shaoghal Bank a forged

CLEVER SMUGGLER.

OPIUM HIDDEN IN FIREWOOD.

Smugglers seem to have an in exhaustible faculty of devising ways and means of evading the wharf searchers and Revenue Offlcers.

This morning, at the Contral Magistracy, yet another of these smugglers appeared before Mr. R. E. Lindsell and the device which this inventive genius em- ployed was certainly remarkable. He engaged an innocent coolie to carry fourteen bundles of firewood" for him in Wing Lok Street. The coolie separated the firewood inta two lots and carried it on a dam-"t boo pole. The smuggler walked a little ahead of the coolle in or der, so it was supposed, to show

him the way.

The Revenue department, it ap pears, had received information about this man and he was arrest- ed In Wing Lok Street and hla bundles of firewood examined.

It was found that twelve bundles were in fact firewood, but the two remaining bundles, while they bore every resemblance to ordin- ary firewood, were in fact hollow- ed out in the middle so that a large quantity of opium could be concealed.

The receptacle resembled in every detall bundles of firewood and would certainly pass as such under the closest scrutiny of the The bundle wharf searchers. opened out into halves, lengthwise, and the hinges were invisible.

When the Magistrate was shown how the 176 tacls of opium were concealed, he could not suppress a smile at the ingenuity of the smugglers.

The inventor of this remarkable device was ordered to pay a fine of $5,000, or nine months' hard labour.

الو

FORMER POLICE OFFICER.

MEDAL

cheque for $50, which had been AWARDED IMPERIAL SERVICE filled in on the missing blank form which was stolen from Miss Gatty. The prisoner was arrested und when charged with uttering the forged cheque he replied "I did." The cheque for $15 was found in the cock lot at No. 8, Tai Wong Street, ground floor, where the prisoner was living.

-

Lady's Evidence. Miss. Galty said she was eniploy ed by the A.P.C., in the engineer- She knew the ing department. prisoner, who worked in the same department until his dismissal on February 7th. Sho denied having signed the cheque for EU.

In reply to his Lordship, witness said her drawer had apparently been opened with a key. She made out the cheque for $15 on Febru- ary 5th, but dated it February 7th. Prisoner was asked if he wanted to put any questions to the witness and he replied that Miss Gatty had given no evidence implicating him.

Mr. N.H. Proctor, an assistaṛt at the Hongkong and Shanghai Bank, said the cheque for $50 was cashed at the Bank on February 7th, but he was unable to say who cashed it.

Prisoner again remarked that Mr. Proctor had given no evidence against him, as being the man who cashed the cheque.

A Chinese widow the principal tenant at 8, Tal Wong Street, said the prisoner rented the cock loft from her for over four months, at a rental of $2.50 per month. She remembered that the police paid a visit to the premises and took away various articles belong ing to Chan,

Found Under Pillow. Sergt. A.V. Baker said on Febru- ary 8th he took out a search war rant to search 8, Tai Wong Street, and in the cock loft, under a pillow, he discovered the cheque for $15. When first charged with the theft and uttering the forged note the prisoner said. "I did.”

The prisoner said his statements did not prove anything against him, because he had been forced to sign, them.

His Lordship, to witness:-- Did you force him in any way?

Witness-No, my Lord. Continuing, the prisoner sald the cheque for $1 was sent to

The many friends of Mr. John Grant, former Chief Detective Inspector of the Hongkong Police Force will learn with pleasure. that His Majesty the King has conferred upon him the Infperi ;) Service Medal. Mr. Grant is ut present at Home on retirement and it is understood that arrangements

บ

will be made for the presentation of the medal there.

Mr. Grant came to the Colony as a police constable in November, 1896, became Sergeant in 1908 and full Inspector in 1918. He was promoted to the post of Chief De- tective Inspector in 1923, and re- tired from the Force in June of last year."

Stated to be the third man who had committed suicide in the same place, a verdlet of Suicide while of Unsound Mind was returned at the inquest en Reginald Gandy, 24, who shot himself in a bakery at Rugby.

...

In spite of the efforts of school children who cleared the sands of shells and of a motor-plough which carved an artificial race track, Capt. Malcolm Campbell. the racing motorist, was again for- ced, owing to the rain, to postpon his attempt yesterday at Pendine, Carmarthen, to lower the world's speed record.

him by past, and the received it on it must have been prepared with February 9th. In his opinion, the forged cheque as a guide.

some people had, a grudge against

him, and sent it to him purposely

in order to get him into trouble.

Found Guilty,

Without retiring, the jury re- In summing up, his Lordship turned a verdict of "Guilty" on the reminded the jury that there was both counts.

no direct evidence that the prison- His Lordship sentencod

er went to Miss Gatty's drawer prisoner on the first count to one During the tiffin hour to-day, it

and took the two cheques, neither year's hard labour, and on the small fire broke out at the Yeung was there any direct evidence second to four years" hard, labour, his own statements at the Police His Lordship further directed that course, Happy Valley.

Station. Apart from his state the sentences run concurrently 101.19, to the credit of reinsurance. Tester seconded, that Mesars.

Two fire engines were rushed to ments and the absence of direct. fund, and the payment to the stall Lowe, Bingham and Matthews and the scene, but the fire was put evidence, however, inference could with those imposed last Monday.

Chan was then further charged of 15 per cent, upon their salaries, vera. Perey Smith, Seth and out by the inmates, and the be drawn from the fact that the with the larceny of a cigarette

goon, returned to the $16 cheque was found among his Mr. J. Arnold seconded and the Fleming be re-appointed nuditors engines at a fee of $750 each. This was station.

It appears that an property. Generally speaking, it case and cigar cutter on January a14th, the property of Mr. L. M. S Indian watchman spilled some stolen propenty was found on The Chairman announced that kerosene on the ground, which was man soon after it was stolen, then Lloyd. Ho pleaded "Not Guilty," dividend warrants were ready and accidentally set alight by a match. that was some evidence that he and his Lordship directed that the to the charge be investigated this after- could be obtained upon applica- No damage was done and no-one stolo it. With regard

forged cheque, there was no doubt noon, was burt.

10-5, at exchange 1/11%-3209,- |. Mr. Ho Leung prapoged and M.Wo Nursing Home, near the Rnce that he went to the Bank, except the sentences to run coccurrently.

be adopted and passed."

resolution was unanimously.car- ried. ****

agreed.

Other Business. : Sir Robert Ho Tung, Mesers, C. tion. Bernard Brown, A. H. Compton,

Powel

Wm.

Telephone C. 4578

Artistic

Furniture

FOR THE

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:

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New Stocks Just arrived

The old favourites.

Boord's Old Tom & Dry Gins

"Cat" on Barrel Brand.

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(Incorporated under the Companies Ordinance of Hongkong.)

51, Queen's Road 0.

Telophone 75 Central,

TAKE ADVANTAGE OF THE LOW EXCHANGE.

You may effect a Life Assurance Policy now in Silver Currency, which may be converted to Sterling or other Gold Currency when Exchange improves.

Full Particulars from

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Bt. George's Building,

BOOTE'S

HONGKONG.

REGP

ENGLAND

Tel. Central 1122.

TILES

Stocks of Floor and Wall Tiling have newly arrived Let us quote for your requirements.

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Solo Agents.

FOR BANITARY, FITTINGS AND BUILDERS' MATERIALS Inspect our Stocks.

Estimates Tree for Sanitary Engineering and Building Materials

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69, Des Voeux Road, Central,"

Tel. 0.5503.

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