1936-05-22 — Page 16

NEW ADVERTISEMENTS.

THE HONGKong & kowLOON WHARF & GODOWN CO., LTD.

This is to give notice that the under-mentioned Cargo will be sold in our Godowns at Kowloon by Public Auction, to defray storage charges, at 11 am. Thursday, 4th Juno, 1936 unfoss claimed and storage charges are paid before that date.

LOT NO.

STORERS

30833 Ilui & Hui Co.

Chung Hwa Steel Products Co.

Cheong Loong Co.

ORDER OF

CARGO

DATE STORED

37 Pkges. Malted Mik

21/3/20

02011

ing Keo

1 Case Catton (lovila

13/12/30

73288

2 Bales Paper

10/10/31

.26024 22220

4 Cases Printing Ink

Mr. Tong San Man

1 Case Furniture

II

34794

Chisa Overseas

Jara Sulphuric Acid

3/10/31 23/8/20

27/6/83

Inter Trading Co.

E

35537 Kwong Sun Co. Ltd.

2 Kegs Chlorate of -

Potashi

23/7/23

G

23078

Wah Tat & Co.

10 Kegs Paint

22/3/30

F

30104

Chan Chee Fook

Cases Glass Bottles

40046

Chartered Bank

1 Case Medicines

20/9/28 20/10/26

G

14243

Chartered Bank

Canton

6 Cases Essences

11719

6 Cases Singlets

2 Cases Bitters

Cases Perfumery

Soap

G/10/32

13/10/32 25/9/20

19/8/32

22/6/20

G

Bank of Kwangsi

20040 Deutsche Asiatische

Bank, Canton

1 Case Melal Goods

46763 Oriental

36539

46038 The National

Industry Co.

80907 Kotegate & Co.

26034 Mr. King Chao

10/5/31

13913

do.

F

47147

Tal Tak Cheong

Nederlandsche Januel Maatschappij

do.

do.

2 Cases

do.

2 Cases Pad Locks

22/12/28

Commercial Co.

Charles E. Lires Co.

1 Case Extract

18 Balen Newspapera.

2 Bales Sateen Drill

Pkges. Canned and

Preserved Goods

31/1/20 20/8/26

273/33

F

0676

Kin Cheong Tai

Bales Tobacco Leaf

8788

Yuen Fung Lee

2 Jars Chinese Wine

12/2/32 15/6/31

9793

Jo,

5

do.

20/1/32

11

G

1066

dio.

2

to.

F

0970 Yuen Cheong Shing 4702 Ho Cheong Wo

1 Case Rubber Shoes

10 Cases Japanese Crockery

15/4/32

3/2/32 27/2/30

G

33963

Noon Electrical

Corporation of Asia

National City Bank of New York

4 Pkges. Noon Sign Equipment

2/12/40

23422 Sing Chow

17 Pkges. Whiting etc.

10/6/30

Trading Co.

23-123

do.

23425

do.

24741

Au Sun Yue & Co.

40121

II. Walla & Co.

9982 Kwang Yue Cheong

21st May, 1934.

NOTICE.

Shippers are hereby informed that it has been decided to of freight increase Tariff rates effective August 1, 1936. A new tariff is now being prepared.

W. F. ARNDT,

1 Case Black Paint etc. 5 Bales Catalpa

1 Drum Acetic Ether 16/4/31

21 Cases Fire Crackers 12/2/20

4 Cases Cotton Blankets 22/1/32 F. H. CRAPNELL,

Secretary.

EXCHANGE

TO-DAY'S OPENING

QUOTATIONS

Selling

T.T. Shanghal

Hongkong/Panama Freight Con- TT: Japan

ference

·THE· HONGKONG` TELEGRAPH. FRIDAY, MAY 22, 1936.

E. R.

NOTICE.

HONGKONG AND KOWLOON

WATER SUPPLY.

It is hereby notified that com- mencing on Saturday, the 23rd May, the hours of supply will be:

Island: 6 a.m. to 9 p.m. Kowloon and New Kowloon: Constant supply.

A. G. W. TICKLE,

· Water Authority. Public Works Department, Hongkong, 22nd May, 1936.

ANNUAL EXAMINATION FOR ENTRANCE TO CLASS 3 AT QUEEN'S COLLEGE OR KING'S

COLLEGE, 1936.

1. Applications from Candidates attending non Government Schools should be made on forms which can be obtained from the Education Ofco on and after Monday, 1st June. These should be completed and forwarded to the Inspector of Schools, Education Depart ment, on or before Wednesday, 30th June.

UNION INSURANCE

.DIVIDEND

(Continued from, Page 1.) to the bushers of this meeting I wish to refer to the loss we suffered recent ly through the death of a very valued friend and one-time member of the Society's staff, Mr. I. C. Saunders From its inception the Society has been fortunate in having nuny nem- bers of its staff of outstanding ability who, even at the expense of their own health, have not spored thele efforts on the Society's behalf: None of these perhaps has done moré valti- able work than Mr.Saunders. Joined our service when the London Office was established in old Broad Street in 1874, and in 1900 was up- pointed the Society's Underwriter. He retired in 1919, but during the intervening years he established him- self as one of the leading and most successful underwriters in London. On retirement Mr. Saunders nc- cepted a scat on the Society's London Committee, and we were fortunate in having the benefit of his knowledge and advice, there up to the time of his denth, At his passing the Society lost a valuable associate and adviser.

STAFF CHANGES

..

Staff changes during the year have been rather numerous. Mr. Trevor Gould, General Manager for Aus- tralasia, has suffered from ill health for some while, and he found it necessary to retire at the end of the year. He was succeeded by Mr. R. C. Langker, who has for the past six years acted as Assistant General Manager for Australasia. In Langker we have a keen and capable 2. The application form must be

officer who, I am confident, will be algned by a Head Master, who cqual to all calls that may be made

upon him in the important post will certify that the candidate

which he has been appointed, is a bona fide pupli of Class 4

Mr. A. S. Clarke, Manager for New or equivaleht standard, that Zealand, and Mr. W. R. Herschell, also his conduct has been satisfac-Manager in Melbourne, have

It has been found possible tory, and that he is under 18 retired.

to conduct our New Zealand business years of age on 1st September, satisfactorily without Control 1936.

Onteer, consequently the position of Manager for New Zealand will not be continued.

a

10

Mr. Herschell has been succeeded by Mr. G. B. Cairnes, who, your Foard confidently anticipates, will maintain the Society's position in the Melbourne market that has been' $0 ably built up by Mr. Herschell.

con-

Cur-

3. Thero will be preliminary Tests in both English and Chinese Dictation for which candidates should present themselves at Ellis Kadoorie School, Hospital Road. on Friday, 26th June, at 9.30 a.m. Candidates failing

CURRENCY INSTABILITY to satisfy the Examiners in the Dictation Tests will not be

As vou are aware the difficult trend

economic conditions eligible to take the remainder of world of the Examination. Names of tinued during 1935. Within certain improve- countries quite definite candidates who have satisfied ment was manifest, but this Wus the examiners in the Dictation prevented from

any spreading to Tests will be posted outside extent by the continuance of Inter- Elila Kadoorie School, Hospital national friction and discord.

rency instability continued also; in Read, on Saturday, 27th June. fact it was accentuated by China and 4. The remainder of the examina- Hongkong joining that large group

tion which comprises Chinese, of countries which operate English, Grammar and Compo-managed currency. The circums- sition, Geography, Arithmetic, Algebra and Practical Geometry will be held at 9.30 a.m. on Monday, 29th June, and at 8.30 am. on each day from Tuesday, 30th June till Satur- day, 4th July, both inclusive excepting Wednesday, 1st July. Oral Examinations will also be held in Reading, Conversation and Recitation.

uncertainty

on

a

FIRE LOSSES

to

to

.

*

Account in connection with the and balance sheet as a whole,. I think In a Jose, but with motor car accidents Kobe Osakn typhoon that occurred you will agree with me that despite at their present day lovelona can during September of that year. Our the difficulties encountered during quite realise the extreme difculty. losses through this disaster approx 1935, the position, disclosed in which is found in obtaining satisfac mated £30,000, and the effect is eminently satisfactory. With these tory results from this class of insur shown in the reduced profit of the remarks I beg to propose the adop-1 ance business. I am perfectly satis

Account 1834 Marine

when com ton of the report, revenue accounts fied, however, that your Board and the pared with

the General Manager will leave no year, and balance sheet as presented. previous

stone unturned to bring the Accident Similarly the B. Mohawk wrecked last year and other claims of lesser

SECONDER'S SPEECH

Account into as satisfactory a position importance were charged against the

Mr. G. G. N. Tinson said: Mr. as that of the, Society's, Marino Ant

Fira Accounts 1934 Account. First year settlements

Your suggestion, Sir, that the much pleasure in rising to second the Board are contemplating the payment for 1035 were approximately in the Chairman and Gentlemen. I have same amount us during 1934, but up to the present there are no heavy adoption of the report, revenue of an interim dividend in the future outstandings as was the case of the counts and balance sheet na presented.

The reduction of 10/- in the dividend will I am sure be welcomed by all shareholders. I am sure that so long 1934 Account at this time last year.

recommended this year has ho doubt as the interim dividend le paid on a

slinre disappointment been a The possibility, I'might al: conservative basis it is of the greatest holders,

***) advantage and help to shareholders Fire still continues to take a heavy most say probability of a reduction that this should be done, and adds to toll of shipping. The most spectacu-

was however clearly indicated tar loss due to this cause in 1935 was shareholders by the Chairman at the the standing and popularity, without | increasing any risk to shareholders or the Ausonia, but the Blo-Bio was Society's centenary meeting last year polley holders, of the Society's shares. And although perasappointed that at first aight also burnt, as were several other valuable ships, including three

shareholders were

DIFFICULT YEAR addition tanicers. In

there were

you, Sir, and your fellow Directors numerous serious fires on shore, all had found it advisable to reduce the With regard to the proposal to do of which produced claims under dividend by as much as 10/- per away gradually with the present un- marine policies. In the aggregate share, yet I am sure that all share called "sharo liability, this must, 1 however, the Society's 1936 marine | heidera" will appreciate that a conser- think, meet with approval. The fact josses were

within the amount

unt vative policy in regulating dividends that shares have large uncalled normally incurred. Our premium recommended according to the amount lability always detracts to a certain income was slightly higher in 1933 received from the investments of the extent from their popularity as an when compared with the previot Society, and in not using any sub-investment, and I congratulate the year. The extreme to which com-

stantial proportion of the Society | Boned on heir decision in this respect, petition is carried to-day makes the trading profits, is a thoroughly sound though I hope the change will he a maintenance of previous Income policy and is in the best interests of gradual one so as not to embarraAS levels exceedingly diflcult,

not only the Society bub all polley those shareholders who may be living Competition has been mentioned holdere, more especially as apparently on their investments. from this chair on many occasions there are no signs of the present cut Before formally seconding the. and 1 will not enlarge upon the sub-throat competition decreasing.

adoption of the report and accounts I ject as by so doing I will be merely

The present dividend is Approxi- should like to express to the Directors, General Manager, mately the amount of interest and Mr. Hughes our repeating with emphasis what my predecessors in office have said so

dividends received from

the Society's and

and to all the staff of this Scolety, our often will pole severe tuur investments and as the present rate intereats throughout the year which underwriting policy is to meet curn- petition wherever it may arise up to of interest on first class investments, must have been as dificult a year as Buch QF those in which the Society's any year in the Society's and I can the point of reason, but when, as occurs in numerous cases, experience time extremely low, one has every national

funds are invested, is at the present only expret the hope that the

situation improve during indicates that this point has been past, confidence that no further reduction the current year and that the various we decline to go further.

neod be anticipated and that with a difficulties with which you all have rise in yield rates a slight increase been faced for the last few years will may be anticipated in the future.

inter-

decrease in the future. With these remarks, gentlemen, I beg to second the adoption of the report and accounts now before this meeting..

POLICY CRITICISED

War risk rates during 1035 provided n small addition to our premium in- come, but the policy of those respon- sible for fixing the rate was to keep

MOTOR ACCIDENTS them 05 Jow as circumstances warranted, and with this policy we

The Soelety is, however, to be con- have willingly associated ourselves. gratulated on the fact that all its In regard to our fire business, I investments are of the highest class am pleased to say that the result for possible and I am sure that this policy Mir. C. A. da Roza said: Mr. 1930 was good. Although there was will be continued by our Directors. Chairman.--I am exercising the a slight decrease in premium income,

One must not, no I am told, men- privilege of addressing you given to this was more than offset by a sub- tion the word "depression", but I as once annually, but I would like to stantial reduction in the claims paid. think the Society is to be heartily say at the outset that I have no quer- It is a fact also that while premium as congratulated on the results obtained tion to ask on the statements cir-

decrease, there a whole showed a

from its marine and fire accounts culated which from their clarity should was an improvement in certain areas despite the heavy calls on the former satisfy the most oxigent shareholder from which in the past profitable to which you, Bir, have drawn atten seeking Information on his invest- results have been obtained. Exchange

tion in your speech, and the fact that ment, or the critical policy holder in of has again played its part in our the total underwriting income for 1036 gauging the credit responsibility

deals. operations, and in addition compell-exceeded that for 1034 by the sum of the institution with which he dee

£8,713, is a matter of congratulation My remarks touch on a question of tive factors in increasing numbers have had to be contended with. for all concerned and shows the care policy on which, after an examina- which is given to shareholders' inter- tion of the accounts, I disagree with esta by your Board and Management. you, I do not expect you, Mr. It is to be regretted that the Acci- Chairman and gentlemen of the dent and General Account has resulted

(Continued on Page 5)

ACCIDENT LOSS

are

It is regretted that our accident business last year resulted in a loss. The section mainly responsible for this was motor car business, the transaction of which continues to difficulties. considerable present Motor casualties are increasing in number throughout the world and naturally claims under motor it:sur- tances that necessitated this step ance policies are following the same have been detailed in the Press and

course. Unfortunately, it is becoming tho at many meetings such as the pre-

a general practice to increase amount of cialms, and Courts aru sent, therefore, I will not weary you with repetition. It appears sufficient supporting this with higher awards. to say that the rise in the value of While this is regrettable for insurance silver from 244d at the beginning companies it is equally so for the of the year to 38d four months motor insuring public. Rates United States silver policy, specula- Increase, later, plus the

of the based on experience and as claims so must insurance rates. tion in exchange, political unrest and You can rest assured that we are silver smuggling, resulted in a post-making every endeavour to prevent tion of financial instability in the a repetition of our last your's un- country which called for drastic profitable experience. 1/3

action.

In November, therefore,

In studying our Accounts, you will 1/345. The paper in General Composi-| China abandoned its traditional seo that the underwriting Income 1074

from tion will be designed to test silver policy, and Hongkong followed,

all Departments during 1935 5432

was £1,010,336, which is an increase the pupils' command of English Speeches from this chair at the last of £8.713 over 1934.

how to our own affairs. 10921

While it is and their ability to express two annual general meetinginterest maintain the previous year's income have satisfactory that we were able to themselves adequately on sim-informed you that, unless

carnings on Investments increased, we must not overlook the Important a dividend reduction in the future point that an increased income at was inevitable. The amount of reduced rates means an increased Interest our investments can earn is policy liability which under normal

loss ratio.

T.T.

Demand

Secretary T. Singapore

T.T. Indla

.85

T.T. San Frisco & New York.

.32

T.T, Java

.47

T.T. France

4.65

IT.T. Munila

Hongkong, 21st May, 1936,

Charged before Mr. W. Schoßeld, at

T.T. Bangkok T.T. Saigon

the Central Magistracy this morning. T.T. Lisbon with having embezzled $20 from Chan Hei-chou, partner in a firm at No.

,64 14416

ple, general topics. The paper

will include one question on World History.

488. A limited number of Scholar- ships providing free education for three years at one of the above schools may be awarded to candidates who reach sufficiently high standard.

.6592

Buying

339 Hennessy Road, on April 16,4 m/s. L/C, Wong Kwan, unemployed, aged 20 4 m/s. D/C.

1/314

1/4

was fined $60, in default, one 6 m/s. L/C. month's hand labour and also ordered im/s. San Francisco & 10 pay $20 amends, in dofault three New York weeks hard labour. Inspector 5.4 m/s. France Logan prosecuted.

1/41

.33%

.5471⁄2

New York

4.007%

---

'ANCHOR'

FINEST QUALITY CREAMERY

BUTTER

NEW ZEALAND BUTTER, acknowledged the world's best, is exported, under the strictest Government supervision, in three grades namely...... Finest," "First grade" and "Second grade." Anchor Brand is "Finest. Grado” Pure Greamery butter. The quality is consistent and it reaches you just as it leaves the factory in convenient and hygienic packets.

Anchor Brand is guaranteed to be 100% pure and is untouched by hand.

TRY IT ONCE-BUY IT ALWAYS

F. J. DE ROME,

A

for Director of Education.

ALWAYS FRES

By Appointment to

THE VERY BEST PEOPLE

DISTRIBUTORS

LANE,

CRAWFORD,

LTD.

Obtainable from all the best stores and compradores.

I turn

CENTRAL

QUEEN'S ROAD CENTRAL: CAR PARK~~~JERVOIS ST. Take Bus No. 4 or & going west, 3 min. from stop opposito Queen'

COMMENCING SUNDAY, 24th MAY EMPIRE DAY

The Outstanding British Picture of the Year! The most Appropriate picture for the occasion! A thrilling and colourful Representation of One matter largely outside our control, circumstances must produce a higher of the most Glorious periods of English History!

but one factor we can control is that the Society's funds are invested in recurfiles of

the highest avaliable quality. This is the dominating in- Ruence in our investment policy.

and despite the relatively low turns we are receiving to-day, I feel sure you would not endorse any change in this polley.

In the Marine Account the amount

carried to Front and Loss on the 1934 Account was £38,858. 6. 6. This was re-less than the profit of the of tossus year, but is due to the series of losses to which reference has been made above. In the Fire Account, our loss ratio during the year was 45.57% with DIVIDEND POLICY

which compares favourably

The 47.29% in the preceding year. When considering dividend recom-

amount carried to Proit and Loss mendations during the past two Account, after providing for all years, your Directors have realised known und outstanding losses and that in maintaining the past dividend setting up the necessary reserves, they have had to take quite a large was £41,150 or 7.33% as compared sum from the year's trading profits. with £38,873 or 0.75% In 1934. The However, they had in mind the ex- Accident Account shows an income tremely sound financial position of for the year of £283,123 against the Scelety, and It was their opinion £351,323 in 1934. As stated above that this strength justified a period the motor car section of this business of proft appropriation in the share- proved unprofitable, the percentage holders interests. It is with regret of claims paid and outstanding for the that they have now arrived at the whole Account being 60.00% as com- decision that, the steps taken in this pared with 47.72% the previous year. direction have gone 18 far as The amount carried to the debit of prudence and the principles of sound Profit and Iosa Account finance will permit and that future £11,071, 0.5. trading profits must be allowed to In all Accuuntà, expenses were accumulate for the added protection alightly higher in 1935 than in 1934, of policy-holders and the production but exchange affects this item each of interest for the benefit of shore- year, and on this occasion the effect holders.

was to increase certain charges.

was

in the Profit and Loss Account, in- As partial compensation for the terest and dividend earnings were less lass that you will sustain by this than in 1034 by £1,048. Having in year's reduction, your Directors pro- mind the total amount involved, this pose to Introduce the practice of mail difference is not of material paying dividends half yearly. This moment, and as the provision for involve some loss, in interest dividend payable to-day is consider- camning to the Society, but the cur- ably less than on the previous year, tallment of the dividend permits this the position of the Profit and Loss course without the lose being Account is very satisfactory. serious. During November therefore, you can anticipate an interim dis- tribution.

be

CURRENCY RESERVE.

In the consolidated balance sheet, There is another Anancial matter that is receiving the consideration of you will notice a change in the name your Directors, and that is the ad- of the Reserve Fund previously shown as the "Silver". Reserve. It is now visability of reducing the present un- called share liability. The goal wo shown as a "Currency" Reserve. This was necessary as silver currencies aro alm at is to make the Society's shares fully paid. The amount necessary no longer in force within the aren to achieve this end is considerable for which this reserve was set up. and therefore the change must

The incidence of excliange has result- made gradually. I hope it will bo cd in this Reserve when expressed possible to make an announcement in sterling being reduced by £71,000

this connection, at

next this year. In 1934 Exchange on the meeting.

31st. December was 1/81⁄2d and on the Results of our operations during 31st. December 1935 was 1/3 d. The the past year 'are shown in the Exchange and Investment fluctua- Revenue Accounts that are before lon Account also shows a reduction you. The Marine Accounts Include due chiefly to the exchange factor. Anal settlements made on the 1834. In reviewing the revenue accounts

ה!

our

A vivid picturîzation of the Loyal and Patriotic Spirit of the English People: the Spirit that has built up the BRITISH EMPIRE !

ASSOCUTED BRITISH PICTURE

PROUDLY PRESENTS

MATHESON LANG & ATHENE SEYLER

Brake England

THE FANOUS ADMIRAL OF THE SIXTEENTH CENTURY, AB A SWASHBUCKLING PIRATE. WHOSE SWORD AND HEART WERE EVER AT THE SERVICE OF QUEEN AND COUNTRY. Saton Margrave, "Daily Mall," says 1.

"A SPLENDID 'DRAMA IN THE MOOD OF THE MOMENT, IT WAS RECEIVED WITH THE

GREATEST ENTHUSIASM."

From the Play by LOUIS N. PARKER,

Directed by ARTHUR WOODS.