1933-04-25 — Page 19

CEMENT COMPANY'S ANNUAL MEETING

SERIOUS EFFECT OF DUMPING OF

JAPANESE PRODUCT

THE HONGKONG TELEGRAPHL TUESDAY, APRIL 25, 1933.

HONGKONG FIRE

INSURANCE

TWO RESOLUTIONS CONFIRMED

ANZAC DAY IN HONGKONG

CEREMONY AT THE CENOTAPH

An extraordinary general moot-

Eighteen years ago, the Austra- ing of the Hongkong Fire Insur-lian and New Zealand Army Corpo ance Co. Ltd. was held at the assisted by a British Expedition- offices of Messrs. Jardino, Mathe-ary Force landed on a bench on Despite the serious threat to the industry caused by Hon and Co. to-day, when two the Gallipoll Peninsula to begin the dumping of the Japanese product, the Chairman of resolutions passed as extraordinary an historie campaign and on that the Green Island Cement Co., Ltd., (Mr. J. Scott Hare-resolutions at a meeting held on grey morning the name of Anzae ton) took a hopeful view of future prospects when ad- April 10, were confirmed. dressing shareholders at the annual general meeting. this morning.

dla and Malaya.

CHAIRMAN'S SPEECH.

manu paid

Was

At 10.15 n.m., members of the Anzac Company of the Hongkong Volunteer Defence Corps "fell in" at headquarters, and marched to the Cenotaph, taking up a position In front of and facing the monu- ment.

RADIO

BROADCAST

EUROPEAN LECTURE FROM THE STUDIO

From Z. B. W., on wave length of 365 metres (84.5 k/c.).

4-5 p.m. Chinese recorded pro-

gramme.

5-G p.m.

A relay of the Band of the lat Batin. South Wales Borderers, con- ducted by Bandmaster 3, L. Gecks, courtesy of the Officer Commanding. from Mount Austin Barracks, by

recorded 6-7 p.m. Chinese

pro- gramme,

7.7.18 p. m. Capriccio Italien (Italian Caprico)

(Tschaikowsky, Op. 45). Leopold Stokowski and the Phila- delphia Orchestra. 0049/8980. 7.18 p.m.

Closing local Stock Quotations, Selected London and New York Stock Quotations, etc.

7.30-9.30 p.m. A Concert. 8.30-8.56 p.m. Dance Tunes. 8.65-9.15 p.m. Operatle 9.15.10 p.m. Orchestral. 10-10.30 p.m. From the Studio. The 1st. of a series of Four Talke on "Astronomy" by The Rev. Father D. MacDonald, 5. J. (The next three Lectures will be broadcast on Tues- daya 2nd., 9th. and 16th. May at 10 p.m.).

10.80 p.m. Rugby Mid-day Press Nowe,

was born,

This morning. Australians In Directors and Shareholders pre-Hongkong commemorated the day, sent at the meeting were:-Hon At 11 o'clock, 4 two minutes observed at the The whole position regarding however, to be able to state that your Mr. J. J. Paterson (Chairman), silence dumping and Government protec- Board has every confidence that, de- Mr. C. Bernard Brown, Mr. A. H. Cenotaph, during a most impros- tion was exhaustively reviewed by spite the present adverse conditions; Compton. Mr. F. A. Joseph, Mr. sive ceremony. the Chairman in comparison with your Company will be enabled to effect T. E. Pearce, Mr. F. C. Hall a paralici situation existing in In- during the eduction in these socks (Secretary) Mr. Ho Leung Mr.

during the current year.

Business covering the year 1932 M. II. Lo, Mr. M. H. Turner, Mr. was satisfactory during tho first L. S. Greenhill, Mr. J. Fleming, seven months thereof; in August The Chairman said: Gentlemen,last, however, your Company began and Mr. G. V. Osmund. You will observe, by reference to the to feel acutely the effects of the im

The resolution "That the exist- Debit side of Profit & Loss Account, portation of Cement from Japan ing 8,000 shares in the capital of that after effecting Depreciation to which product was offered and is at the Company of the nominal value As the hour of eleven was the extent of $275,154.55-which being marketed locally at prices which, amount has been dobited direct to according to our technical adviser, of $250 each, upon which the sum striking, two buglers from the. Working Account and allowing for are materially below manufactured of 100 has been paid up, be divided South Wales Borderers, raised all charges including the sum of cost. The reduction of prices of im- into 40,000 shares of the nominal their bugles and sounded the $105,527.10 in respect of Interest and ported brands to a level below netual value of $25 each upon which the "Last Post." Exchange, the balance of Proft & production cast had the effect of cursum of $20 shall be credited as The notes died away but the Lona Account ammounts. $431,-tailing the sales of locally

tn

up." WOB moved by the $105,-factured cement, as it naturally fol

sssembly remained in silence. 853.91 over the figure for the preced-lowed that contractors and dealers Chairman and seconded by Mr. Ho the noise of the,eity went on 270.03, being an increase of

Heard, took advantage of the cheaper article. Leung and carried unaniniously unabated but no sound came from ing financial year. Your

The second resolution "That as the group who had gathered to whilst appreciating that such increase Diher factors which caused a falling is, to a certain extent, gratifying, is off in sales were, firstly, the ban on novertheless disappointed that the re- the importation of our Cement into on and from the 1st day of July, pay homage to the Australian dead, sult of the working for the year has Canton and Kwangtung at the end of 1933, the regulations contained in

Rearing the principal wreath (Continued from Page 6.) not shown a larger ingrense-thin October inst-which an, I nay nay, being attributable to verinin adverse was lifted on the 18th January, 19:13 the meeting and for the purpose from the officers and men of the churned out in this part of the fastors, which materially affected the and, secondly, the drastic curtail of Identification subscribed by the Anzac Company, Lieut. C. de world, produced by a small company trading for the year-more partieu-ment made in the building programme Chairman thereof be approved Saille Robertson, accompanied by of enthusiasts in Canton and ex

well printed by the larly the last quarter thereof-a mat- in Malayn, due, in the latter case, to and adopted as the Articles of 2nd/Lieuts. J. Way and A. E. tremely

Association of the ter to which I propose to refer inter, the prevalent business depression.

Company, in Bates, mounted the steps, Inid Shameen Printing Press. Artistic substitution for, and to the ex- the wreath, saluted and retired. scemn to be the suitable word and VICKERS ACCOUNT.

MALAYA'S LEAD.

clusion of, nil the existing Articles

it applies not only to the mechani- Other wreaths were laid on cal side of the publication but also уля moved thereof"

by the seconded by Mr.

behalf of the Royal Navy (Comto its contents. The copy I have fa Chairman and L. S. Greenhill and carried un-C.) the Royal Air Force (Flying hide their light behind initials mander C.,Heath Caldwell, D. 5. dated March 1933 and the authors Omicer W. P. G. Pretty, Adjudant. There is no indication whether it Kal Tak Aerodrome), the Hong-is a collection of a few treasured konk

Volunteer Defence. Corps scraps which the authors con-

Parkinson Scottish Co.) the British worthy of print, or whether it in Legion and ex-Servicemen's As-the first of a series in almllar vein, sociation (Col. Robertson), all by a group of poets at play work- ranks of the South Wales Border- ing off their creative energy. ers (Lieut W.K. Miller and R.S.M. Coming hard on the heels of n

the printed document submitted to)

In regard to Malaya, I may add Turning to the Balance Sheet, you will notice on comparing same with that, although Cement from Japan the Accounts as presented last year, is being offered there at prices which that certain Insportant changes have will not permit reasonable competi ainiriously. boon carried out. On the Assets side, tion, nevertheless, the Government of you will observe that we have in Malaya has specified that nothing but cluded under the headings "Hok Un British or British Colonial Cement

REPOSITORY

Hongkong" and "Steam Dredger, shall be utilised in the carrying out SOCCER CLUB RUINED (Col. L. G. Bird and G. S. Mt. sidered, with ample justification,

We

Barge, etc. the sums of $2,042,902.68 of Government contracts, and nrd $20.220.03 respectively these trust that in due course, the Hong- amounts representing payments duelong Government will follow the lead

in this respect, to Mesara. Vickers-Armstrongs Lit., f in final settlement of the contracts particularly when it is borne in mird entered into in relation to the New that your Company is in a

Malaya

more

position

BY SUCCESS

Plant and certain necessary adjuncts to demonstrate that whilst it can Boness Doing Well Until Theobold) Royal Artillery (Major series of demonstrably lesser of

thereto. Your Board is of the opinion not hope to compete with dumped which opinion the Company's Cement the ninnufactured cost and are in complete accord—that retail price of its product bears

similar

вел-

Promoted

by setting forth these amounts in the favourable comparison with the re-

At a meeting recently of the manner prescribed, Shareholders are enabled to survey the financial past-lative figures pertaining to

organizations engaged in the Cement tion of your undertaking comprehen- trade in other parts of the world and ball Club, a resolution was passed shareholders of the Boness Foot- sively, more particularly so, in view the Empire in particular. The of the fact that the contra side of timental aspect of the situation, if I winding up the company. Doness Scottish the Balance Sheet displays

be permitted to no term it, is was expelled from the may bo stantial amount outstanding in con emphasized by the fact that your League in November last for nexion with the liability of the Com-Company is one of tho Colony's failure to pay certain outstanding pany in respect of these particular commitments. Since the close of the leading industries and gives employ- debts of guarantee money. financial year, a sum of 3000,096.20 ment to approximately 1,000 hands. has been remitted to Mesara. Vickers. Armstrongs Ltd.-leaving

a debit

Bumping Acule.

Mr. Campbell Falkirk, who was appointed liquidator, said that the The position vis-a-vin the importa-club was in a very sound financial con- tion of Cement from Japan has been position until promoted to the of the Scottish deferred payments entered into-must the

balance of approximately fourteen lakhs outstanding, which-in

formity with the terms in respect of so acuto since December last that in First Division

nunth of February this year, League.

tho

CLUB RUINED.

CABAU ten your Cupany was forced to ba liquidated, within the next

per the manufacthre of Coment at Hok months. Of this amount, fifty

in Un for a short period, dus to cent. will fall duo for payment

A single year's experience in July of the current year, and the fact that the available storage room Balance in February of 1934. In this both in ailes and sheds was led to the First Division, with heavy Bocion your Board has effected capacity. As a result of tho tem guarantees and other expenses,

Hok Un had ruined the club.. arrangements with the Company'sporary clorure of your Bankers whereby the payment due to Factory, the Company has had be made in July next will be financed faco a loss covering auch period, and

conn

to

by the granting of extended overdraft it would appear opportune, there-ball team has been literally ruin-

fore, for me to point out to

facilities.

A. C. Hancocks, M.C., R.A.)

forts, which shout their wares for a day and disappear into the limbo, The Repository" is an intellectual gifted treat. The authors are EUROPEAN FINED with an easy cynicism and a grace-

SPEEDING IN 'A CONTROLLED ́AREA

Mr. San Martino, of A. Vannini & Company, was summoned before Mr. Scholleld in Police Court this morning, for driving his car through Whitfield, a conrtolled area, at 25 miles per hour.

Defendant pleaded guilty and was fined $20.

Traffe-Sergeant Baker said he followed defendant from the AP.C. to Ah Installation, North Point King's slipway. His speed van be- tween 25 and 30 m.p.h.

Defendant-It was less than 20.

J

ful avoidance of reality, indulge a row prejudices, aro charming, cheerful and thought-provoking in turn and leave the reader with a pleasant taste in the mouth even a philosophy when C. B. reveals

ono accepts for stark which the Central materialism expressed in one place at least, in a manner which would appal most parsons. C. B., in his philosophical mood, also mocks the age in a piquant article, most of which is worthy of quotation marke." he "To-day, though decadent," Bays, "we are refined and comely. But when compared with even the procious sensibility and the way ward sensolity of half a century age, wo are spiritually, unsexed and Indifferent to any thickening of the

With blood.

facile com- promises we shirk and ignore and gloss over the rugged irregularities of bellef and opinion. The life of man ig a fetish and his death an abhorrent annihilation. The cause, the example, the legacy are nothink. Death is the climax. So we devise artificial and inadequate means of staving it off, whore death would be welcome and easy relief. We snivel sentimentally over circum- stences that neither solicit nor re- quiro our attention. And As a

transferred

Central wo add, with all the paraphernalia Mr. Wynne-Jones in the being sold for consumption on from the credit of Profit & Loss A Home market, ie. in Japan,

atcertain amount of truth in the Pole court this morning, Sergeant of an enlightened age, the mons-

in the Reidy said that defendant sold trous lie of democracy" count, the sum of $47,678.50, which stood last year under the heading of prices which are on a par with those assertion that

its Longue is not always of financial pigblood and went to stalls that away he goes in the same strain, Exchange Fluctuation Reserve in Reat which your Company venda

culled for him. He did not go sharp and piercing, challenging, un- serve created from the surplus made product locally, it is reasonabio

usanme that, in the event of your

form stall to stall in the ordinary compromising, yet making one having available by the disposal of certain Company

ultimately to

wonder whether he is really laugh- at favourable Exchange contracts rates) as a result of the arrangements abandon the manufacture of Cement

and permanently close down

its COTTON & WHEAT

ing at us "the perpetrators and the Bufferers, the spectators of our own effected in relation to deferred pay.

Auch intensified

calamitous tragedy." ments which sum, being in the nature works owing to

Imported of a profit on Exchange, has been "dumping," prices of in

product (which, as I have previously written off the cost of Now Plant.

pointed out, are being marketed at Investments, which consist wholly of Shanghai Municipal Council Deben-rates materially below cost) will not

CALL ON SHAREHOLDERS.

This announcement that a foot-It was 23.

Sergt. Baker-lie had one hand those ed by success may occasion some concerned with the welfare of local surprise. Yet it is not uncommon on the horn and was blowing it industries of which I may here ndd your undertaking is one of the lar to hear it said in English football every other second." sest that whilst capable in common circles that such-and-such a team else-la not keen on promotion. This is with manufacturing concerns

cam tantamount to saying that the club where-of meeting legitimate potition, it cannot reasonably be ex-In question finds it more profitable

survive pected

the intensifed to continue in their present sphere. to "dumping which is now being ex- perienced in this Colony and

In this connection, I may

In respect of the final payment falling due in February of next year, however, it will be necessary for your finance Board to call up the balance of the unpaid capital in order to Auch payment and effect a reduction In the indebtedness of the Company to its Bankers.

Whilst dealing with the subject of where.

elsc

It is natural that many of these rumours are greatly exaggerated the New Plant at Hok Un, I would incidentally add that, having regard and some are entirely false. Yet?

romark that we have

HAWKING PROBLEM

BIG BLOOD SELLER DISCHARGED

to the fact that Japanese Cement is the fact remains that there is a In charging a Chinese before climax to the whole catastrophe,

to benefit to a club.

be maintained at anything like the

tures, show a slight depreciation is existing levels.

at the 1st December last, and it

the intention of your Board to dia-

Auccess

LATEST NEW YORK QUOTATIONS

Cotton

Opening Closing Ilangs Rango 7.62-7.66. 7.47-7.50 7.72-7.74 7.05-7.07 7.95-7.09 7.87-7.80

Measta, Swan, Culbertson and Fritz In the foregoing relation, and have received the following quota- pose of such Debentures when a fa- with a view to offering substantive tions on the New York cotton and

evidence as to the facts with which wheat exchango for yesterday. vourable opportunity occurs.

furnish The item. "Hongkong Bank Fixed I have felt constrained to

the Deposit $36,000" appearing on both Shareholders, I would refer to Aldes of the Balance Sheet relates to representation under date the 17th to the cash portion of the security (October, 1032, addressed by the lodged with the Company by the Con- Cement Marketing Company of India May pradore the balance of such security Ltd. (on behalf of the Cement Com July

deeds panies of India), to The Secretary of October being in the nature of title

the Government Department of In- December covering approved properties.

dustries and Labour, Now Delhi, January LARGE STOCKS.

calling attention to the intense com- March

in Spot petition then being encountered item India as a result of the importation under the heading "Cash in hand. at very low prices of Cement manu-

previous factured in Japan, following the re- May which appeared in

July

You will observe that

the

8:15-8.168.01-8,03 8.20 8.25 8.00-8.11

8.40-8.408.26-8.27....

7.86

Chicage Winnipeg

the

59

Balance Sheet in respect of the sum cent heavy depreciation of the cur September of Taols 35,000 on Fixed Doposit in rency of that country and praying

October Shanghai, has now disappeared, due for protection against what is thoro to the fact that this amount was in described as "this unfair com transferred to Hongkong during the petition." year 1082, which transfer incidentally

70%

414

71

831⁄4

Situation in India.

$1,738.47.

The above. Representatlan goes ful-

showed a Batall profit in exchange of

way.

and

The Magistrate-Rather ilke the baker's cart at Home.

Sergeant Reidy said a similar caso was dealt with by Mr. Nihill in 1927, but he had forgotten the

So in "The Repository's as, a ruling. He had brought the pre-whole.-W.J.K. sent case to Court for decision.

The Court held that defendant was not hawking and discharged

him.

THE TYPHOON

The Royal Observatory reports that the anticyclone is controd in the Pacific to the South-East of Japan and the depression is moving Eastward to the North of Hokkaido.

The Typhoon is situated about 500 miles E. S. E. of Manila moving slowly W. N. W.

Local forecast:-East winde, moderate; fair generally.

DAY BY DAY NEWS IN BRIEF

WHEN A MAN'S. KNOWLEDGE 18 The Dollar liner President Coolidgo

arrived here at § a.m. yesterday from "Dolate leaving the Balance Sheet, ly into facts and figures with a view NOT IN ORDER, THE MORE OF IT HE Manlis. She will sail at 1 am. tor I would refer to the stocks at Hok to demonstrating that the competi- HAS THE GREATER WILL BE 18 CON-morrow for Bhanghai. Un and Macao, which

stand, at

can definitely. beruSION-Herbert Spencer. tion complained 31,008,620.22, indicating an increase described as "Dumping," and I quote

of nearly $900,000 on the figures for

the preceding year under this particus the following passages therefrom:

lar heading This accration is due to

bad trade during the latter portion of

the year under review, which led to

and

an accumulation of both raw manufactured material.. I am pleased,

Miss Lydia Michel, the noted.

German singer, is to givo a

1. Prior to the fall ja the Exchange, The Ben Line Bs. "Benreoch”, left vocal: recital at the Hongkong the Importers of Japanese coment had

pay about Rs. 87-12-0 per ton de- Singapore for Hongkong, via Manila, Hotel roof garden, the function Hvered at Ports, whereas the com on 22nd April and is due to arrive having now been fixed for Thura-

(Continued on Page 4.) here on Brd May.

day evening.

It is stimulating even to the re- Jector of his creed.

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of the SEASON

CHOC. VITAVOSE

with

Fresh, Cold Milk

at the

DAIRY FARM

STORE

Queen's Road C.

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We confidently invite you to Inspect our stock, Included is a light-weight Rubber- less Coat that is porous to air but absolute- ly waterproof-with or without a bolt, Price $23.50 Less 10% Discount for Cash, Light-weight Rubber Coats from $12.75 "Burberry and Motoring Coats.

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A splitting headache

from excessive smoking and studying.

· Prompt relief can be obtained by taking

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BAYER

THE MACAU GREYHOUND RACING CLUB,

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Every Saturday at 9.15 p.m.

Every Sunday at 2.15 p.m.

See newspapers for special steamer service. Admittance to Members' stand $1,00, Public Stand 40 cts.