1931-03-05 — Page 5

ilk

WEDNESDAY, MARCH 4, 1931.

Ik Sale

NEW

STOCKS OF

PRINTED CREPE DE CHINE, PRINTED GEORGETTE AND

MANY PLAIN SILKS IN

ALL COLOURS.

PRICES EXCEEDINGLY MODERATE

CALL EARLY FOR BEST CHOICE.

TAJMAHAL SILK STORE

6-WYNDHAM STREET – 6

Make fewer trips to the

STORE... more to the

SAVINGS

W

THEN weather is dis-

agreeable, when daily

WINDOW

shopping saps energy—that is what you long für a Gen- erai Plectric, Refrigerator. Sceore its benefits in your own home-. now on exceptionally easy terms. Thenyoucan huyfood supplies fordays in advance, incressing your orders,and pbtaining better prices. Fonds will keep their freshness and flavor in the crisp, steady General Electric cold. Only the General Electric Refrig- erator gives you the simple, quiet, sealed in mechanism of the Monitor

Top. 4 different temperatures to meetaltneeds. Handy fast-freezing control. All-Sreel cabinety-legs for easy sweeping. Sizes for all hömet, Save part of your budget money every week make fewer trips to ̈ market and more to the bank.

GENERAL

ELECTRIC

LIL STEEL NESKIDZRATOR

BUY NOW ON EASY PAYMENTS

A few dollars will place » General Dectric Refelacrátor in your home tomorrow. Then

rings begin-helping you witrikwasy fiscaliments, COMMERCIAL REFRIGERATORS ELECTRIC WATER

ELECTRIC MILK COOLERS

On View at

Wm. G. Jack & Co., Ltd.

Hongkong Electric Co., Ltd.

The General Electric Co., of China Lid. ANDERSEN, MEYER & CO., LTD. Sole Agents.

COOLERS

Im

SIC ROBERT HỒ TÙNG ON EXCHANGE CRISIS.

was

(Continued from Page 1)

farmed out) and (2) 1930 January-June (when from 1.1.30 to middle May auch business was

Maca Line. The comparative

own

*how

THURSDAY, MARCH 5, 1931.

heads of expenditure. Out of as the net profit was mainly in- total increase of over $150,000. come obtained from investments." Wnges wore responsible for The farming out of the Chinese. $68,618, 'coal $36,349, atores freight and passage business hnd $12,421, Home leave pay $8,862, never been satisfactory. wireless pay $5,347, repairs, $18,195.

to

In view of the gratifying results obtained under the Company's new system, during the period of six months (July to December) which have no fully proved the wisdom of the policy, outlined by you a year ago, I wish to congratulate you, sir, and to express the con- viction that the contidenes in you

Radical Changes Needed. From the figures I have. Just farmed out but thereafter antiquoted it will be seen how impos- Farmers sible it is for the Company to 80.0.30 was under

continue on the present working management) show that the re

Radleni changes are enipts for the first period exccnd-principles. cil those for the second perla by unlted for. Your business is not the sum of $18,086.58 for the Can- the only one in the Colony that evidenced by the large number of has to face these contending fac-votes in your favour at the poll ton ne and $20,963.30 for the

tors so prejudicial to your best on 24th Jung, 1930, has been fully

The problem bristles justifled. figures for the 1929 July-December Interests.

with difficulties and 1 may say that Unity of opinion among share- period (when such business was farmed out) and for the 1930 July for some time now this all-impor-holders is usually not easily obtain December

thetant, exchange factor has beened, because of their varying points period (when

view, also because they are business was under the Company's engaging the serious attention of of

not as a rule an organized body. management)

that your directors. We are glad that whilst the Company received 310-4 Commission is coming out

nor are they easily organized. It is, thereore, not an easy matter for when bunici Mane Line Hongkong at the instance of the

the business was managed Colonial flee to investigate into shareholders assembled at a meet-

May we

ing, to decide which one of their by the Company, it received $97,- the currency question. 153.65 more in the Canton Line hope that some amelioration of the number is best fitted to represent during the period of the Com- present difficult situation be fully them.. pany's own management than the realised. corresponding period in 1929 when During the year more steamers the business was formed out. were placed in opposition both on Compared with the gross earn- the Canton and Macao ser inga of the previous year, the vices. Freight rates through Canton Line showed a decrease of out the year ruled very low, show-uncertain 5.20* For the Brat six months' ing in some cases only a bare mar working, but under

xin of profit. Tw Our management

favourable results were effected during the second half of the year and an increase of 28,162 was recorded. Compared with the immediately preceding half-year, viz., January 1930. The result is even more strik. ing, the ratio of increase in cara- ings being 23.177.

more

Maeno Line Losses,

Practiently all local shipping undertakings have suffered from ingal business stagnation, fall in Exchange and the periodical re curring political disturbances in the neighbouring provinces of Kwangtung and Kwangsi.

Policy Justifled.

At the time when you took over the management, there was great uncertainty as in the future of the Company. There were su many

factors and so many serious possibilities, that your task, sir, was indeed a difficult one. The situation was unusually com- plex.

The task of revitalising and recap. turing the lost business of the Com. pany was not an easy one, but you have surmounted all the obstacles and emerged triumphant, with an increased revenue of nearly a lakh

22

128

30

--

OUR BRITISH CROSSWORDS.

Across

Stop, friend!--it's the end of the

£317204

Low quality black tea

8 The strawberry tree places a

conjunction before us.

10 After carries une in each

sidde.

1

1 What killed Julius Cnosne ? 12 An Asintle Kingdom. 13 flere in Germany-yesterday

in France.

14 For font-work.

17 Never supplles courage. 18 Stint, 26 or where the gorgeous Eant, with richest hand-on her kings barbaric pearl and gold." "Paradise Lost,"

I may mention that your direc. tors, after due consideration de- cided to inaure

the Company's the Canton Line. This is at steamers against total· loss only

tributable to your able manage but including salvage and damage ment and proves conclusively that by fire instead of on W. A. basis, the shareholders made no mistake thereby effecting " saving of when they approved your policy by about $17,000 In premium a year, such a inrge majority, thereby allow

deserve? At the same time they effected ing that they realised that you 23 Throw upward-a little short of insurance to cover loss of earnings possessed the best qualifications for in the event of total loss for the undertaking the control and de- sum of $108,000.

velopmont of the Company's affairs.

of

As regards the loss of earnings on the Macao Line of $10.727.86) it should be pointed out that for about 3% muntha daring the period in question the Company had to compete with increased position. Had the business been farmed out, the farmers

would have been entitled to substantial

Mr. Arnold's Resignation. deductions in respect of this in-

Our

secretary, Mr. John Arnold,

On Sound Itasis, creased opposition. If the amount han, owing to ill health, tendered Although last year's profit may deductible by the farmers was this rusignation, which we with re be somewhat disappointing, due be credited to the account, the regret have accepted. Mr. Arnold principally to the unparalleled suit would have shown a profit has devoted in less than 30 years drop in exchange, shareholders of approximately $9.772.14. to the service of the Company, fought to be gratified to note that It is gratifying to role invest-which period he acted as secretary the Company's share investment ment Fluctuation account shows for 17 years. I can pay him cost prices of $385,968.30 appre an inerrase of $333,644.40 and now higher tribute than in Say that stands at $678.728.60. This aug-doring this time he has gained not mentation is due to the exceptional only the respect but, I think, the rise during the past year in values esteem of all those with whom he of morlain oral stocks,

has come into contact. His long shipping experience has been an invaluable factor in the conduct of We the business of the Company. shall lose in him a most efficient secretary. I feel sure you will ap Prove of the director's action in granting to him in recognition of his long services a bonus of $20,- 000, which includes the equivalent of nine months leave. To succeed Mr. Arnold we have appointed Mr. George E. Ellams as neting secre-

Steamer Depreciation,

|

of

cinted $678,728.60 (including ast year $333.644.40) making a total of $1,064.717.50 or something ever their original book 175% values.

Perusal of the report amply illustrated the soundness of the Company in tangible liquid assets, The Company is now established,

on a very sound breis.

In turning to the balance sheet you will notice a smaller sum has been written off for depreciation of steamers, Hitherto it has been the policy of the Company to write 50% of the cost value of the -steamers or, in other words, weil- ing them off in 20 years. On examination, your present Board considered the policy might under- go a change without detriment to The Company, as the average use- ful life of a river steamer is about when we next meet the long-de- Tean only express the hope that Kā years. We have therefore sired improvement in trade may written off 5% of the book values, have deveined so as to reflect it has come through such

instead of cost value.

year.

5/20

tury.

that

bas

Seconder's Speech.

Mr. M. Fernandez, in seconding

la conclusion, I desire to state |that, while present prospects may not be as bright as we should like, due to the continued existence and depression, and competition, com- the seriousness of current shipping bined with the unfavourable ex-

change. we have reason to be encouraged, inasmuch as the Com-

purious times and the report shows such a satisfactory position, which is indeed as good us could be ex- pected in such circumstances, and

feel certain that, when the longed-for revival of trade materializes this Company will re- ceive its fair quota of prosperity. With these few remarks I beg to second the adoption of the report and the statement of accounts.

The report and accounts were unanimously adopted.

Business Matters. Mr. K. Stuart Smith proposed, and Mr. M. H. Lo seconded, the re-appointment of Messrs. P. K.

22 What Scottish river

heaven.

means to

24 Let go, and it will drop end on.

Enid (hidden).

28 An ancient galley.

20 "I lay war" (anag.).

30 Has a ceremonious sound, it is

true.

Hoards up.

Down

Stupid--partly due to the dun- key, of course.

2 "Let me--thee, sour adversity. For wise men May it is the wisest course."-"King Henry VI"

What Henry V, called his wife. 4 A modern sculptor. 5 Square-rigged vessel with two

maxts.

6. A young WOWON wire has t harassing time, as a rule, until the last chapter.

STICKERS

Stait at any point on the above dia- am and trace over all the lines without lifting your pencil from the paper. It is not pemissible to pass along any line twice. Several ways are possible.

CHANGES AT SCOT- LAND YARD.

LORD BYNG NOT TO RESIGN.

London, Jan, 31.

7 A snake and a fragment of cloth before us are an esteemed,tablo

elicacy.

This may come out in volumes, but in not obtainable on tho instalment plan.

11 and 15. No one ever know what happened to this character of Dickens.

16 A number of men situated bo- tween two hills become a single individual with annoying charne- teristics.

18 Classtfying.

19 Protence,

20 Thin cut is scarcely severe,

21 Authorise. A divinity abapos its

end.

25 Modern

poet, whose

contradicts Itself.

26 Tendency.

Fruit (plural).

Yesterday's Solution

namo

UNDERSTANDINGI ULUNUY

ALLEGRO DEMESNE {DIE W A BATM N JOIN EBONY REEF UF M 4 DAYLILY EXT

IN

URAUKLE PR JUM ALB X

TUBE TILL

OTU" BG

MM

UBUE

EN

[RUMMAGE INIMRET

FEN NN INVESTIGATION

Yesterday's Solution,

The letters on the diagram aboro i abcate how it is possible to draw the da gram, in one continuous line, without Irmoving the pencil from the paper and without going over any line twice. Start nt and go, in order, to B, C, D, E, F, A.G.H.L.G.J, K, Land A.

sioner, who left London on Thurs- day. It is now understood that he Important changes are shortly to has returned to London, and in ex-

You will have seen from the re-self in the lifting of the depression been over the shipping port that there has been a heavy industry for such a long period. Nallin of in steamers' nel earn-

It has always been the eastom inga compared with the previons of the chairman in closing his

Gentlemen, you will,

remarks to thank the staff of the think, desire me to explain to you Company, both ashore and affant, briefly the reasons for the reduced who always labour strenuously in net earnings.

The promotion of our interests. I Silver and Gold,

do so with much pleasure on this I wish to acknowledge The principal adverse factor is terasion.

influencing

to all members of our stair. Euro- practically all 248in1089 undertakings in the pen al Chinese, my appreciation Colony without

in "eception. of their loyalty and devotion to which revenug is derived wholly duty. in silver currency but the greater proportion of the expenditure of which has to be met in gold, the adoption of the report said: Batchelor and Li Tse-fong to the take place in the administration of pected that an official announce- Such is the unfortunate position Mr. Chairman.I beg to second Board of Directors, and on the Scotland Yard, but it is probablement will be made shortly. of your Company today. it the adoption of the report and motion of Mr. M. P. Lo, seconded that they will in no way affect the In view of the prolonged absence suffices to state that European accounts, and in doing so, I would by Mr. Wei Tat, Messrs. Linstead position of Viscount Byng of Vimy of the Chief Commissioner, and the floating

the fact that he has been on leave for staff wages, passage like to make few remarks.

£1

and Davia, and Meaars. Lowe, the Chief Commissioner of Home teuve privileges. Your announcement of the in- Bingham, and Matthews, were re-

Metropolitan Police. money,

reasons of ill-health during 13 cost of coal, stores and docking ability of the directors to recom-elected auditors.

Mr. Clynes, the Home Secretary, months out of the two and a half charges, are all incurred on amend the payment of a dividend

Sir Robert Ho Tung was sap- the offices concerned boing that of been frequently suggested that be is considering appointments, one of years since his appointment, it has sterling basis, whereas the Com-dona not come as a surprise to me. Tany's receipts are taken in silver. It will doubtless be remembered Messrs. Li Tse-fong. M. K. Lo, came vacant on the death of Sir not his intention, and it

ported by the Hon. Mr. J. P. Braga, Deputy Commissioner, which be should resign. This, however, is part of which is Canton sub that when addressing your pre-R. K. Batchelor and C. A. da Roza Charles Royds

is expected sidiary coins which entails about decessor in the chair at the last

that with his return to duty and the (Directors), Mr. G. E. Eliams 30 loss upos conversion Into annual meeting. I called attention

Lord Byng has been on leave in appointment of a new Deputy Com (acting Secretary) and Mesera. the south of France since Novem-missioner, affairs at Scotland Yard to the fact, that, due to the farm A. M. de L. Soares, M. H. Lo, Hungber 22, and, so far as is known, he will return to normal. To enable You to form ing system. our steamers had Taze-yee, Luk Pak-to, M. Fernan- intends to return to Scotland Yard

appreciation

Mr. Clynes denied yesterday any of been running at a loss and that dez, M. P. Lo, Wei Tat, Kwan Yau-early in April. During the week knowledge of a suggestion that a expenditure prin- the payment of dividends. by kwong, J. D. Bush, Ho Leung and end he had a conference with Sir position at Scotland Yard had been

exchange differ- borrowed money was "anjustified. Ho Po-sang (shareholders). Itemize separate

Trevor Bigham, Assistant Commle offered to Sir Ernley Blackwell.

Hongkong dollars.

Correct the inermased

ipally du to ences I will

FRECKLES AND HIS FRIENDS

YOUNE SAVED MY

LIFE,

To the Rescue

YOU BOT ONE MORE CHANCE

WHILE. 'FAR UP

URODONAL

4.

THE DEFINITE REMEDY FOR

RHEUMATISM

AND ALL

URIC ACID TROUBLES

SOLE AGENTS FOR HONGKONG

CANTON & MACAU

THE

PHARMACY Asiatic Building, Tel. 70845.

NCLE CLEM HAS ALMOST GIVEN.OP HOPE OF

EVER FINDINS FRECKLES. **FOOT SORE

AND EXHAUSTED, HE DROPS "TO HIS

HANDS AND

KNERS,

IN A SORT

OF DAZE...

THERE'S A BUZZING NOISE IN MY EARS... GUESS IT'S MY BRAIN FLASHING A.. STOP SIGNAL... WELL, THEY CANT. SAY I DIDN'T DO MY BEST, TO FIND FRECKLES!!

BULEY ABOUT TO LAND

WELL, OLD FAL....I GOT TO YOU JUST IN TING....THIS'LL BRING YOU BACK...TELL ME... HAVG, YOU ANY TŁACE" OF THE KID? AND THEY TELL ME PARBAR HAS A

HAND IN THIS... COME ON FEEL

BETTER ?

RILEY

THE RIVER, BINKLEY AND FARBAR ARG READY

"TO PUT

PETER,

THE HERMIT,

THROUGH

THE

THIRO

DEGREE

TO TELL US WHERE THIS KID IS

OR ELSE ME PULL YOU UP

BY YOUR WRIST TILLING GET IT OUT OF YOU Ľ.

ELL TELL. NOTHING

AND,

PEACHED

AZONE

ON A

LEDGE

sees

WHAT

19

TAKING

PLACE

BELOW

14SMA

By Blosser

BEG-IF I CAN PULL · MYSELF TOGETHER - I'LL "TRY AN' UGG MY LAST BULLET TO SUIT "THAT

ROPEL.- Bay! 'BUIS A

MALLSONI'TO ONG,

SHOT-NHEW",

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