1930-05-30 — Page 8

The World knows

other like it no other

Berrier

Derrier

"The Champagne

* of Table Waters”

NO ARTIFICIAL GAS

Perrier is Nature's chemistry, with which man cannot competc.

The fashionable summer drink is Perrier and white wine. The life and delicacy of Perrier combined with white wine makes a delightful, harmless champagne" much appre- ciated by ladies.

•

And Perrier perfects whisky.

OBTAINABLE AT THE FRENCH STORE 849, Bonafi di Arcade, Hongkang.

•

Deadly foe of

helpless children.

25% of all children who die under the age of 5 are

victims of infantila diarrhea,

The deadly house fly

is the principal carrier of this and many other discase Destroy files and save your children's lives, Spray Filt,

Wit le deadly to flies, mosquitoes, fleas, moths, ande, roaches, bedbugs and their eggs. Harmless to man, Doesn't stain, Don't confuse Flit with other in- sectleiden.

́Look for the soffler on the pillow can with black

hand,

Distributors for China: · MUSTARD & Co., Lti.

secorporated ander the Companies Ordinances of `Hongkong,

FLIT

Kills quicker

E. HING & CO.

SHIPBUILDING MATERIALS, SHIP CHANDLERS

HARDWARE MERCHANTS,

25, Wing Woo Street

THE HONGKONG TELEGRAPH, FRIDAY, MAY 30, 1930.

MARINE INSURANCE.

tions.

those working with him; for the CHINA FIRE MEETING. sound manner in which the Invest- ments of the Society and its affiliat-

Effects of the Fall of the ed Companies have been selected.

Dollar. The depreciation in the value of London holdings at the end of 1929 China Fire Insurance Company, Presiding at the meeting of the is considerable, but a large portion Limited,

which followed, Mr.

Report, as read,

LAWN TENNIS LEAGUE.

CIVIL SERVICE "B" TEAM

·BEAT NIPPON CLUB.

The match between the Civil Ser

J. Barrow and D. M. McDougall

(Continued from Pape 1.) [good position to reap the benefit of any improvement in general con. it affects the Society and its ditions. I am confident that our Affiliated Companies. You will organisation throughout the world of this amount will have already Owen Hughes said:Gentlemen,vice and the Nippon Club in the "B" realise that the drop in the price is well set up and controlled and 1 been recouped in the quotations rul-The report and accounts were Division of the Lawn Tennis League of silver and the consequent de- have every confidence that the ing to-day. It is most gratifying issued on the 8th May, and, sub-was played off yesterday afternoon preciation in the sterling value of the dollar and the tael must prosperity of the Society will re- to learn, sir, that with regard to ject to your approval, I will follow at Happy Valley, the home players- have an effect upon the Society's spond to improved trading condi- four "investments in the United the usual procedure and take getting the point by the odd so

States amounting to over one mil- figures. For example, premium received in silver currency and in- it will be of interest to sharehold- of these stocks, in spite of the de The Working Account for the K. Nakasato 9.7; lost-to K. Yoshi- Turning now to our invesments, lion pounds sterling that the value them, as well as the Auditors' (Civil Service) boat T. Fujieda and Wataka 8-3; best T Takomasa and terest on investments in silver securities translated into sterling era to know that the market value bacle in the New York Stock Ex- will produce less pounds. This is of the investments held by the change last October, did not affect Year 1928 shows a balance of kawa and S. Kinoshita 6-7.

$548,094.68. Your Directors re- J. A Bendall and

and F. W. Bradley reflected in the sterling value of Society and its Affiliated Com our position. Also that we do not the Society's Silver Reserve Fund panies on the 31st December last own a single security in the States commend that a final dividend of beat Fujieds and Wakate 6-3; lost

Takemasa and

Nakasato 7-9 beat issued in Great Britain and com- that is not paying its interest in per share and a bonus dividend to of $3,000,000 which at

and Kinoshita 6-2. 1/7/

of $6 per share on 20,000 shares

Dr. D. J. Valentino and Balfour loss. equals £243,750 as against £303,-prising British Government and full.

Through some of its affiliated $300,000, and that the balance be Takemass and Nakasato 2-6; beat be paid to shareholders, absorbing to Fujieda and Wakata 7-9; lost to 125 last year when the rate of exother first-class sterling securi-

ties amounted approximately to Companies being capitalised in carried forward to Underwriting Yoshikawa and Kinoshita 6- 2/01⁄4. hange was in standing to the £940,000. This figure shows a de- Hongkong dollars, the Society per- Suspense Account to close the

force shows large silver invest-Account for the year 1928.

K.C.C. Teams for To-morrow. credit of Exchange and Invest-preciation of about £43,000 as com-

The following have been selected ment Fluctuation Account pared with the prices ruling on the ments In its balance sheet, but these

is!

The balance at credit of the to represent the Kowloon Cricket 31st December, 1928. As you are some Companies have their funds affected also, this amounting in

aware, prices of first-class securi-largely invested in gold, and this 1929 Werking Account is $1,127,- Club in their League Axtures on

Saturdays the present balance sheet to

ties in the London market for minimises the position of the low 629:34. Out of this balance your Directors recommend the payment

"A" Division.-Versus H. K. C. C. £508,369.4.1 as against £612,819.1.0 various reasons were low at the silver values.

of an interim dividend of $5 per E. C. Fincher And E. F. Fincher,

on the K.C.C. ground at. 4.30 p.m shown in the balance sheet for the close of the year. There has, period ended 31st December, 1928, however, been a good recovery

share, absorbing $60,000, and that Thomas Lay and A. E the remainder be carried forward. Hyde and G. Boediker. since that date.

Some Contrasts.

端

Efficient Service.

Bigger Balance.

FANLING GOLF.

STARTING TIMES FOR SUNDAY.

W

9:16 am.-D. J. Keogh and E. D.

Lawrence.

9.20 am-Dr. Dovey and G. B. S.

Thomson.

9.24 am S. Berg and G. w.

Guest We note the resignation of Mr.

As was only to be anticipated; "B" Division a.⇒Versus, G. S. C. C. E. W. G. de Gyulay, the General the accounts before you are affect on the K.C.C. ground at 430 pm- As I have already indicated the American Investments.

Manager for Australasia, who has ed considerably by the fall in the. Jack and R. B. Hambly, A. T closing demand rate on London of

The Society and its Affiliated given the Society 23 years efficient sterling value of the dollar at the Lee and W. M. Glities, F. Grose and the Hongkong & Shanghai Bank-

I feel sure we all join our 91st December as compared with

J. Mackintosh. ing Corporation on the 31st De-Companies have investments in service. cember, 1928, was 2/04 whilst on the United States of America Chairman in wishing for his happy the 31st December the previous the 31st December, 1929, it was totalling a little over one million retirement and at the same time we year.

For example, you will notice 1/72. The difference between sterling, these being made up of hope for Mr. Trevor-Gould the same these two rates shows a deprecia-Government Securities, Railroad success his predecessor had in that that the total of the assets of the Company is increased by over tion in the sterling value of Bonds, a limited number of De- field of our operations.

bentures in high-class publis In conclusion, Mr. Chairman, in $2,000,000 as compared with the 19.58847. The 1928 Working Acuity Companies and in a few informally seconding the reports and previous year. The explanation count has been adjusted to the dustrial undertakings. The ex-

accounts I feel sure the sharehold of this large increase is that the exchange ruling on the 31st. De-cellence of our securities in thaters will concur that we are under Company has a preponderance of ecmber, 1929, and in consequence country is borne out by the fact an obligation to, our General Man- gold assets over silver, the dollar the balance of the 1928 Working that the debacle which occurred ager, ably supported as he had been equivalent of which is, of course, Account at the end of the second last year on the New York Stock by his staff here, and in all parts of considerably augmented, year after payment of an interim Exchange did not affect our posi-the world, for the good results dividend and bonus amounting to tion, our stocks showing at the $175,334.10.10 is £18,193.6.8

less end of the year an appreciation on than the 1927 Working Account at their purchase price and further the same period. This difference, we have not a single security in I may say, is more than accounted that country which is not paying for by exchange and had exchange its interest in full. The Society's remained at no less than 2/04, the investments are very carefully balance would have shown seme looked after by your United appreciation.

States Managers, Messrs. Marsh You will observe that our] & McLennan, Inc. interest in the 1928 Working Ae-] It will further interest you to count stands at £235,469.14.8 and know that with the exception of as our dividend costs us £270,000 some small holdings in certain it would appear from the balance securities purchased prior to the sheet that

interest is Great War and which are valued in £3-1,530.5.4 less than the dividend our books at £4,123. 0.4 we have payable. These figures are affect- not a security on the books of the ed by exchange and do not show Society and/or of its Affiliated the position fully.

Companies which is not paying its interest in full.

Our

Limited. None of these com- panies t the present time are paying away more than their in- Lerest in dividend. (except the

staff.

Deserved Tribute.

achieved and I have much pleasure

The balance at the credit of the in heartily wishing the Society con- tinued prosperity. I have much Working Account 1929 is over pleasure in seconding the report $160,000 more than the balance of and accounts,

the 1928 Working Account at the The report and accounts were corresponding period. last year, unanimously adopted.

which is a satisfactory increase .... | notwithstanding, the fact that it]

has also been affected by exchange.

Business Matters.

On the proposition of Mr. H. B. L. Dowbiggin, seconded by Mr. In view of the prosent uncertain L. E. N. Ryan, Mesers. J. A. conditions and difficulties of trade, Plummer and J. P. Warren, the the policy

of your Directors in retiring directors, were re-elected leaving the dividend unaltered to the Board.

will, I know, commend itself to Messrs. Lowe, Bingham and you. Matthews, and. Messrs. Linstead I now move that the Directors' and Davis were re-appointed report and statement of accounts auditors on the motion of Mr. M. as presented be adopted, and when Manuk, seconded by Mr. A. D. this has been seconded I shall ba Humphreys.

pleased to answer any questions you may care to ask.

Similar propositions were unanimously carried at the subse- quent meetings of the British Traders' Insurance Company, Ltr., and the China Fire Insurance Company, Ltd.

Mr. G. S. Arcbbutt seconded the report and accounts, which were unanimously adopted,

BRITISH TRADERS.

Not Greatly Affected by Exchange.

Reeve.

0.28 a.m-0. Eager and. A. D.

Humphreys,

9.32 MR. M. Wood and f

Highet

9.36 am. A. F. Judd and AC.

Meredith

9.40 a.m.-W. C. Shields and D. G.

G. Macdonald.

9.44 a.m.-N. K. Littlejohn and J.

S.

Dykes.

9.48 a.m.-H. C. Shrubsole and L.

E. Lammert.

9.52 m.-G. B. Dunnett and G. E.

More,

9.56 am.-I. H. Geare and A. E.

Lissaman. 10.00a.m.-Comdr. Priestley and J.

Stuart.

10.04 a.m.-L. S. Greenhill, and E.

D. Matthews.

The balance of Working Account for the year 1929 stands at £174,658.17. 6. Out of this balance your Directors recommend the payment of an interim dividend of five shillings per share, absorbing be paid to contributors of business. £24,000, and that a bonus of 20% on bonus terms, absorbing about £10,000, and that the reminder be carried forward. - d

Effects on Subsidiaries. As you are aware, the Society. ons the majority of the shares You are all aware, gentlemen, in five Subsidiary Companies, viz., of the many difficulties with which the British Traders' Insurance the business of insurance has had Company. Limited, the China Fire to be faced during the last few Insurance Company, Limited, the years, these, difficulties being ac-

The Hon. Mr. J. Owen Hughes: North China Insurance Company, centuated by depressed conditions Limited, the Yangtsze Insurance of trade. I think you will agree presided at all of the meetings, Association, Limited, and the Far that under all the circumstances and he was supported by the fol-

Presiding at the meeting of the Eastern Insurance Company, the position the Society finds it lowing directors:Hon. Mr. Gor-

self in reflects credit upon the don S. Mackie, Messrs. J. K. Bous- Ltd.. Mr. Owen Hughes said: have not been greatly affected by

British Traders' Insurance Co., The Account of this Company-, General Manager, agents and field, J. A. Plummer, D. O. Russell, Gentlemen,The report and ac-the position of exchange owing to

J. P. Warren, Paul Lauder:

counts were issued on the 9th May, the fact that such a large propor- Since we last met Mr. E. W. G. | (General Manager).

which will have given you time toj tion of its assets are in sterling. de Gyulay has retired from his The shareholders present "British Traders'" "which on the position of General Manager for included:-Messrs. J. W. Alabas- study the figures, I propose, there-

The Working Account, balance 1928 Account pays a small amount Australasia and his resignation

ter, A. E. S. Alves, G. S. Archbutt, fore, to follow the usual practice for the year 1928 shows approxi- of £876.0.10 in excess) and in

as the mately the same total as the 1927. certain cases they are paying regret.

was accepted by your Board with J. D. Butcher, B. M. C. da Cunha, and take them, as well

Account as at the end of the Mr. Gyulay was first N. V. A. Croucher, H. B. L. Dow Auditors' report, as read. away less.

The Working Account for the second year. The. 1929 Working engaged by the Society in 1907 biggin, L. G. S. Dodwell, R. A. If the full interest were paid and has given devoted and efficient Dastur, F. M. Ellis, John Fleming, year 1923 after payment of an Account shows an increase of away by these Companies the service. I am sure you will all A. H. Ferguson, H. C. Cray, W. Interim Dividend of five shillings £10.000. 8. 5 as compared with the interest of the Society would be join with me in wishing him a very Gardner, A. D. Humphreys, per share and a bonus of 20% to 1928 Account as at the same increased by approximately £20-happy retirement.

Ho Kom-tong, O.BE., J. H. contributors, passed at the last period. 000 and I therefore estimate that; at the Best December, 1929, the sistant General Manager for Au-

Mr. E. Trevor Gould, the As. Little, M. Manuk, James Park, P. annual meeting, shows a balance I now move that te Directors' H. Rolfe, V. R. V. Ribeiro, O. F£45,739.12. 6, and your Directors Report and Statement of Accounts interest covered the Society's stralasia, has been appointed to Ribeiro, L. E, N. Ryan, C. Savard recommend that a final dividend as presented be adopted and when dividend by all but about £15,000. The post vacated by Mr. Gyulay and Remedios, F. W. Stapleton, E. 11. of four shillings per share on this has been seconded I shall be In view of the uncertainty of Mr. K. C. Langker has recently S. Summers, V. F. Soares, the Hon. 96,000 shares be paid to share pleased to answer any questions exchange it has been decided not to been appointed Assistant General Mr. W. E. L. Shenton, T. H. Rholders, absorbing £19,200, and you may care to ask, increase the dividends of the sub-Mausger in the place of Mr. Gould. Shaw, M. A. R. Souza, Sum Pak that the balance be carried for- Mr. H. C. Gray seconded and sidiary Companies.

We all wish these gentlemer ming, Allan Stevenson and K. ward to Underwriting Suspense the resolution was adopted-with- You will realise that a large success in their new appointments. Stuart-Smith.

Account,

out dissension. percentage of silver investments I now propuse the adoption of shown in the balance sheet it] the report and accounts and when £1,524,419.2.3 are represented by this has been seconded I shall be holdings in our subsidiary Com-falad to answer to the best of my panies, "The China Fire" and ability any questions you may care "The Yangtsze" and although to ask. these Companies' capitals are in silver you will realise that they have considerable holdings in gold securities.

now upon

Mr. Ferguson's Speech,

Mr. A. H. Ferguson said:-Mr. Chairman, It gives me great plea-. Society's Business,

sure to second the report and the accounts. We have been given am Commenting

theple time to examine the figures and business transacted by the Society, it is most gratifying to learn the the result of its Marine Under-satisfactory financial position, not writing during the years 1928 and only of the Society itself, but of its 1929, considering the times, affiliated Companies. We have lis has not been unsatisfactory al-tened with great interest to the though after payment of our final very able speech from the chair. dividend for 1928 owing to the It cannot be expected with a trade drop in exchange the amount depression Existing all over the carried to Underwriting Suspense world that insurance business Account is less than in the pre-should be immime or be totally un- ceding year. Our Underwriting affected thereby. It is, however, Suspense Account, however, is in rather to be deplored in the period a strong position to meet third under review that a great deal of years claims as these occur.

ll-considered competition has in

A pleasing feature of our report some branches of insurance at least, is that we have been able to main- reduced premia. to a point hardly tain our profit on the 1929 Account] commensurate with the risks in- as at the 31st December, 1929, ns volved.

compared with the 1923 Account Nevertheless, we are pleased to at the end of the first year, the be given your assurance that ten- balance being £440,790. 1.4, this dencies are apparent that under- being an increase over the pre-writers generally are more prone vious year notwithstanding the to watch the statistles of their busi- decrease in the sterling value ofness, which we trust will tend to the dollar and the consequent de stop what you have termed h crease in the sterling equivalent of pazurd underwriting, and enable our interest.

Insurance Companies to obtain a The combined result of our Fire niere reasonable return for their and General business for the year

sericos.. 1929 was not-unfavourable and left a fair profit after setting up all the necessary reserves.

Gold Investments.

When we turn to the large gold investments the Society possesses, World-Wide Business.

the shareholders must wish to con- Our business is well spread and vey their high appreciation and world-wide and the Society is in a thanks to the General Manager and

EMIL JANNINGS AN ERNST LUBITSCH

IN

PRODUCTION

The Patriot"

POZSENTED BY JEDOLPH ZUKOR JESSE L LASKY

K

WITH

FLORENCE VIDOR LEWIS STONE NEIL HAMILTON

Advance

Booking

at Ma estic

Slight

Increase

ia

piices.

She was his sweetheart but he used her as a pawn in his game of Empire! Such was the love of "The Patriot" for his country. Emil Jannings in the most t astounding role of his career.

AT THE

MAJESTIC

Nathan Rd.

Kowloon

TO-DAY to SUNDAY. at 2.30, 5.15, 7.20 & 9.30 Special Music at 5.15 & 9:30 p.m.