1949-07-05 — Page 5

Hongkong Telegraph 港電新報 士蔑新聞 All

THE HONGKONG TELEGRAPH, TUESDAY, JULY 5, 1949.

INSURANCE ACTIVITIES

REVIEWED

CHINA UNDERWRITERS

LTD'S

ANNUAL GENERAL MEETING

At the Annual Meeting of China Underwriters Ltd, held this morning, the Chairman, Mr H. J. Armstrong, emphasised that in the Life Department premium income was growing very satisfactorily and that the Company were appreciably nearer the position where their renewal income would take up the strain of the cost of new busi-

ncas. •

ì

our

CON-

He expressed concern, however, over conditions in China, where business prospects had receded, and in Burma, where disturbances had caused a serious curtailment of operations. Improvemenia were shown fa ACCIDENT ACCOUNT: There have caused us to curtail opera- businem done in Malaya and is a satisfactory Increase in ure-lons very severely..

mlums of $20,771 over 1017. In Malaya there has been a the NEL

and in The Chairman said: We had and the fact that claims were gradual improvement hoped to have the Annual Meet-only $26,170, as compared with the Netherlands Indies, although year, the future is still unsettled, we ing in May, as in pre-war days, $45,215 in the previous but certain changes in the pre-shows that the steps taken to have been able recently to in-

operations sentation of the figures, to which improve underwriting, to which crense

predecessor referred last siderably. I will refor, necessitated a fresh my

Since the last Annual Meeting nctuarial valuation of our Life year, were successful.

The result is satisfactory and I was invited by the Directors Assurance business which, ow-

on our the Fund carried forward re- to re-join the Board, from which Ing to heavy pressure staff, could not be completed presents 63% of the year's pré-I resigned in 1948 on my depar

inlums, which more than makes ture for England, and they have A re-examination of estimated up for the small sum which had since appointed me Chairman. figure necessitated by loss of to be carried to the cupport of My re-appointment to the Board will require confirmation In due records, which are now of minor this account last year.

KARINE ACCOUNT: Although course. Importance, shown that the esti-

considerably In conclusion 1 should like to mates, made in earlier years premiums

in 1047, due to the place on record our apprecia were adequate and, in the care less than of Lits Claims, more than ade-falling off in general trade in tion of the work of the Officers quate, so that some release is the latter part of 1948, the result and staff at Head Offles and of this account is excellent, as Branches, also the co-operation ogan Justined.

nimost negligible of our Representatives in various claims were

the world, as well as when recoveries are taken into parts of

colint. Commission earned la our Agents & Brokers every-

in 1047, due where." likewise less than

the reduction in business The adoption of the Report placed with Companies for and Accounts was proposed by which we agents. act

the Chairman and seconded by

Parsona We propose to transfer $100,- Mr II. M.

earlier.

to

were

1

GROWING RENEWALS Net Premiuma of $1,308.711 compare with $900,385 in 1947. They includo First Year's pre- miums of rother more than in the previous year and growing renewals which already exceed those in any previous year of the|009 to Profit & Loss, as shown in Mr H. J. Armstrong was elect- Company's history.

the accounts before you, anded a director and Messrs Li Tse- We still show separately the this will leave a Marine Fund fong and I. W. Shewan were re- back premiums for old policies

of the year's net elected directors on the proposal nearly revived but the figure is, no of

with about of Mr Li Fook-wo, seconded by expected, quite amali and will income,

of the previous year's Mr R. V. Lederhofer. not be

shown in 70% separately

and income with which we started Messrs Lowe, Bingham future years

the year.

Matthews and

and Percy, Smith and Death Claims at $99,200 cont-

PROFIT & LOSS ACCOUNT: Co. were re-elected auditors on pare with $73,000 in 1917 and,

addition to interest of the proposal of Mr P. Nicholson, Tight In considered very

to other can be

nut carried $79,573 nat the increasing compared with

accounts and the amount, trans-seconded by Mr A. A. Botelho.

Present at the Meeting were Mr business in force.

ferred

Account, frem Marine

II. ส Armstrong (Chairman), Maturity claims are ne pra- Į terre

mentionest, the

Dr J. W. Anderson and Mr 1. main item of the

vided for and it will be noted ¿which I have just dil side of w. Shewan (Direclors), Mr E.

}

that a credit of $25,000 appears. on the other side of the account this account is $68,182, represent. Childe (Managing Director), the proceeda of sale of Mr E. W, Wilmott (Secretary) as a release from the estimated Ung figures for unknown claints to 10,791 shares which were for- and fix shareholders.

in the feited

as mentioned Surrendera at $103,135 Are Chatman's speech last year.

Part of the provision made much heavier than in 1947,

which I alluded earlier.

these being largely due to the inst year for bad debts proved Pres. Truman's

fact that pre-war policies, in unnecessary and a small sum is which the holders have taken accordingly re-credited to Profit

no interest, are rapidly running & Less.

olt by exhaustion of value for

advance of further

under

After making the transfer of Account a

premiuma $250,000

automatic Our

Non-

to Life

Message

SIDE GLANCES By Galbraith Hongkong To

5-13

A

DOPE, 1948 BY MEA SERVICE, DIS T. EL, RED, IL, 6. PAT, OFF.

"I'm glad vacation is coming-it's sure going to be good for Miss Dixon and me both to got away from each other for a while!"

Presentation Of

Letters

Patent

To New KC

MR CHARLES LOSEBY

There was a distinguished gathering of members of the legal profession present at the Supreme Court this morning when the Full Court convened for the reading of the Letters Patent and their presentation to Mr Charles Edgar Loseby, barrister-at-law, on the occasion of his calling within the Bar on his appointment as one of His Majesty's Counsel for Hongkong.

The Full Court comprised the Chief Justice, Sir Leslie Gibson, Mr Justice Williame (Senior Puiane Judge) and Mr Justice, Scholes (Acting Puisna Judge),

London In 39 Hours

New PAA Servico

In October

Pan-American Airways, Con- stellations will take over from the slower Skymaster on the Hongkong-London run on Octo- ber 1 The Constellations will do the frly. In 39 hours-20 hours faster than at present.

This was announced, today by Mr Harvey Hancock, PAA Director of Traffic and Public Relations, Pacific-Alaska Divi- alon at a Fress conference in the Hongkong Hotel.

Mr Hancock said that three

Constellations will Operatu weekly, and four If the Indian Government gives permission, The route flown will probably be the same, but passengers wiü now not imve to chango from Skymasters into Constellations at Calcutta.

Passengers for Now York can Strato- change at London to cruisers, or continue by Con- stellation.

"What we are doing is con- necting our Pacific and Atlantle services in Hongkong, instead of Calcutta," Mr Hancock Bald. The Constellations will take 44 passengers, with berths, and fares wil be the same as at; present.

“Hongkong's PAÁ staff will be expanded by about 25 members. Mr Hancock arrived by PÀÀÄ Clipper on Friday, and intends to visit Canton, Swatow, probably Macao.

CANTON'S

REPLY

(Continued from Page 1)

ald

The Minister of State, Mr Hector MeNeil, was asked in the House of Commons by In- dependent Labourite, John Platts-Mills, if the Government would send a a representative to meet the "democratie authorl- ties in Pelping."

Mr MeNell replied that if Mr Platis-Mills was referring to the Communists, the

The second way you were bomb attack

answer was the same as on June 29, that the Communista declined to contact British representatives,

The British Government is

L also

the studying

Chinesć Nationalist replies, to represen- Intions concerning the bombing of the

Funnel British Blue Line's motership. Anchises. Bri- Among those present. were, month and then the Law Fetish officials were said to be dis Mr G. E. Strickland (Solicitar- poris of Hongkong will be up sattailed with the Chinese General), Mr Eldon Polier, KC,

to date.

Nationalists

apology for Mr H. G. Sheldon, KC, Mr A.

because at least he (Continued from Page 1)

Hooton (Crown Counsel), Mrable to help was as President

war made John McNeill, Mr D. A. L. of the Rent Tribunal in this after the apology was tendered. union unless a satisfactory wage Wright, Mr. Percy

CD..

Mr Colony. The work of the Rent Th10 British Foreign BALANCE SHEET

adjustment to obtained.

Brook A. Bernacchi,

L. Tribunal had been very grie- spokesman would not comment The steel workers' chief will Streilett We have lightly rearranged

(President of the vously in arrears and I found on the next step

the British at $548,910 Is the Balance Sheet to conform

resume pay talks with the Unit-Hongkong Law Commission

Mir Society),

two full- Government is likely to laite.- requirements of the new ed States Steel Corporation on D. H. Blake higher than in 1947 owing to to

timessary to have (Vice-President), Presidents, You, together United Press. the increased renewal income, Company legislation In England Wednesday in Pittsburgh just 10 and numerous other solicitors with Me Latimer, were the two first year's commission being which will probably be brought days before he will be free to Including Mr F. H. Losely, full-time Presidents appointed CHENG CALLS ON BEVIN

of into force here in due course.

strike under the Taft brother of Mr Charles Loseby, and made a very valuable con- less than in 1947 in spite

London, July 4-Dr. Cheng rather higher First Year pre-

Hartley law. A walk-out would mlums,

probably be delayed, however, There were also a number of tribution by reducing the ar- Tien-hel, Chinese Ambassador in

women present'.

of work of the Tribunal London, rearo

today called on the it the Federal Government in-

Before addressing Mr Loseby, and fact restoring their British Foreign Minister, Mr lervened.

Ernest Bevin, for a talk which here be the Chief Justice asked the Re-work almost to normal.

Kistrar of the Supreme Court

usually reliable Bourcus con- GREAT EXPERIENCE

neeted with the Chinese closure

Forfeiture Scheme, and the pd-balance of $0.000 remains to be vances made since 1041 have carried forward.

to be written render values.

of against sur-

Expenses are higher than the previous year but show a much Improved ratio to the total premlum Income.

MAJOR CHANGE

under Life

All Ordinary Shares are now fully paid up to the extent of $7 per share.

The Insurance Funds are as mentioned in my reinorks on

counts.

Assurance policles the Life Fund, to $1,248,832.

in our accounts. Under recent

Investment & Exchange Re- now serve stands

legislation in England it is now

necessary for the Life Assurance, writing down

at $50,062, after some securities

Fund to be shown at a figure of whose book value stood above the actuarial market value at December 31, not less

than

Habilitles. Although dimilar 1940. legislation has not been enacted

The gure for Claims

call

0

Informed

sources

Emergency Measures

(Continued from Page 1)

be_token.

you as one

am

very great legal experience and

you brought to this Colony territory.

our

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Take Any Eastern Tram Car or Happy Valley Bus

SHOWING TO-DAY: 2.30—5,20-7,30 & 9.30 P.M. Soo Luscious Lans at hor most alluring autho bewitching brido who was inquisitiva about mon

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DOUGLAS FAIRBANKS

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HELENA CARTER RICHARD GREENE PATRICIA MEDINA

Screenplay by Douglas Falbanks, fr,and Robert Thoras Frais a novel by Jestán fiantly Metarilo

Directed by ARTHUR PIERSON · Produced by DOUGLAS FAIRBANKS, 31.

A FAIRBANKS CO. ING. PICTURE

COMMENCING TO-MORROW

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-THE MOST UP-TO-DATE THEATRE ON THE MAINLAND

JORDAN RD.

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TEL: 50313

LIBERTY

I BÔNG. Tom.

~THE YAUMATI

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COMMENCING TÓ-DAY

FIRST TIME SHOWING IN HONGKONG

4 SHOWS AT 2.30, 5.15, 7.30 & 9.30.P.M.

one

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MURDEROUS WOMAN

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SU

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I also venture to hope that heKT

"0, "Hong Kong Calling"; 0,0], "IM in the path of Swingtime":0.30 Cantoneso

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At 2.30, 5.30, 7.30 & 9.30

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THE WORLD'S MOST FASCINATING WOMANI Yvonna Do CARLO Rod CAMERON in "SALOME, WHERE SHE DANCED" In Technicolor Entirely with Now Print

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Color by Technicolor Starring: Doris DAY * Jack CARSON

OUTWARD MAILS

المس

to United A surface

TENIS Kingdora via Porta per Canton will do closed as follows:

O.P.O-Parcels, July 7, 5 pan. Registered, July 8, 130 m Ordinary, p.

Kowloon C.P.0-Parcels, July 7, 5 p.m.; Registered, Juý 8, 1 p.m.; Ordinary, 1.30 pm,

This wall is expected to arrive at London on or about August §. It is hereby notined that all mall Bervices for Shanghai, Tientsin and North China to temporarily suspended.

Unless otherwise stated re- and parcel posts closa 30 minutes earlier than the ordinary mail. If moalle close before 15 a.m., registered and parcel posts close at 5p. on the previous day. Malim are closed at Kowloon Central Post' Once half an hour earlier than the 0.1.0. closing times.

Janis 'PAIGE

Londoners'

Peep At Colonies

(Continued from Page 4)..

the departmental revenue ac-lieve the date for a steel wald (Mr. C. P. d'Almada) to read When you came to Hongkong of ports in Communist-occupied

out may be moved towards the Lettere Patent Reserve Fund, autumn in the hope the labour- Mr Loseby as one of His

appointing The General I now come to a major change

Majes- over made in the which amounted to $100,000 at management deadlock

Counsel for which hus been

year's December 31, 1847, has been fourth round wage increase in this was done, the Chief I think you brought also some- Britain, in a note last week,

Aller presentation of this

transferred to reduce the Re-the basic industries may be

Justice said: Mr Losby,

Itthing else of great value, par is undersicod to have said that figures,

the meantime, --

to the junior she will not recognise the It will be remembered. that establishment of Life Busness broken in

gives me very great pleasure encularly we have not previously Laken Account, bringing it down from United Press.

behalf of the Bench to welcome members of the profession. You Chinese action, which the Canton

described brought a knowledge of those Government Majesty's of 1s account of Ure actuarial liability $1,348,812, which was added to

rules of professional conduct closure and not blockade. Counsel for this Colony. think the Letters Patent which which are traditional in

The Chinese reply to the Bri- have just been read are a worthy profession and make it a pro- tish note was received in Lon

respected and don yesterday. Though its text recognition of the long assecia- fession at once

valued.

has not been made public in tion with the law of you and

• the Conveying

Attorney London, the Chinese reply to a I belleve I your family.

the United right in saying that your father General's regrets for bis ab- similar note from Ad-

E. Strickland, States maintained that the or Intimated but Not

was a lawyer, your grand-father sence, Mr G. was a lawyer before him and Solicitor-General, said: In his Chinese Government were justi in Hongkong, we have to make mitted returns in England and it is Paid includes all known claims considered advisable to show together with over $133,000 for tention of the Government and you yourself were called to the absence, on behalf of, the legal died in their action-Reuter.

Bar as a student of Gray's Inn department of Government I under Life enquiries were proceeding." similar Ogurts in the accounts unreported claims

wish to associate myself with informed quarters said the some 35 years ago.

what my Lord has said and to policies which may still come in, presented to you.

AWARDED MC

congratulate Mr Loseby on the As mentioned at each of our after the release of $25,000 to Attorney General, Sir Hartley

study Shawcross, would

the Life Account which I mentioned

After your call you joined the high honour conferred on him. Annual Meetings since the war.

charges immediately to deler Midland Circuit, but your prac the large new business being earlier.

the other side of the ac-mine if legal proceedings should tice at the Bar was very carly will continue On written, coupled with the re-

Mortgages have been Earlier, 2,000 strikers howled interrupted by the Great War constitutional reform upon which Radio Given by Mine Leb Wai Lan & duction of renewal income duo count to the cessation of now business increased by the Investment of down threshers of Paris of 1014-18. In that War you he has embarked. In the Untiede Studie): 660 Charins served in France with the 1st Kingdom, Mr Loseby, following American Letter by Allmair-Cooke 1942 to 1945, further sums in first class mort. during the years

ment who spoke

at a meeting and 2nd considerable gages In Hongkong at satisfacand voted unanimously to con- and I think in 1917 you com- members of his profession, had 70, Down Memor Lane" pro Lancashire Fusiliers the footsteps of many eminent (Londen Relay); 2.13, Liszt: Mefisto Waits. Boston Symphony Orchestra; have thrown a strain on our position owing tory rates of interest.

tinue the strike, which has manded the 1st Battalion. You the distinction of being a memented by Alleen Woods (Studio): to the heavy cost of new busi-

Folley loans are over $200,009 virtually paralysed the port of served also on the staff of the ber of the United Kingdom & World News and News Analys ness which is a feature of Life less than at December 31, 1947, London.

86th Brigade of the 29th Divi- parlament. Here it is also London Relay) Bil "Meet The

glaterad articles Paragons" (studio); 850, The Blue Labourites R. J. Mellish, Bision. You were twice wounded traditional that both branches Danube A Cavalcada of Music of Assurance; and, to enable us to mainly due to repayments from

of claima

and Guy and Harry Nicholls pleaded on active service, and you were of the profession should be re- 19th Century Europe; rom the bring the Life Fund up to a the proceeds

actuarial surrenders.

with the dockers to go back to awarded that very coveted mills presented figure to cover the

(London Fielay); 9.10, in the Legislative Editorials" transferred Investments are much the work "for the sake of your coun-tary decoration, the

Weather Report; 911, Variety Band Military liabilities, we have

Council and I venture to hope, box. From the Cambridge Theatre from Profit & Loss sume as the previous year, and try". Nine hundred alrikersen $250,000

War you therefore, that this member of London (UBCTB); 940n my LA account and $1,348,812 from a the total market value is in attending replied with Insullat

After the Great

His Majesty's Counsel for Hong-perience A Talk by Mrs Alya Rus value at which United Press. new account which has been excess of the

went back to your practice in kong we are here to welcome fell, (CTS): 9.56, Chamber Muly set up in the Balance Sheet they appear as Assets,

the Midland Circuit and cons and congratulate today, will lecital Trion Trio in D Minor, under the name of "Re-estab-

'Cash in hand is high," on ac Double Decker tinued to practise in that. Cir-lone day be a distinguished mem49 (Mendelsohn)... Alized (Piano) Jacques Thibaud Helment of Life Business Account of the repayment of

cuit until you came to Hongkong ber of a reconstituted legislative Violin) Paul Cassis (Cello): 10.45, mortgages towards the end of

In 1045. You were, during that body and will adom it with his Atonia Later (Piano) and I Berens

ders: 1040 "On the Paris Bonies period, also on the Treasury list eloquerice,

Newsreel vardo

31, Radio

Weather (London clay);** 1325, of Prosecuting Counsel., During LIFE OF ENDEAVOUR

Mr Eldon Potter, KC, senior Report and Summary of News from Noon, 1.30 pm 3 pm China: 1120, Clow bowd.

Toochow Kunming, Swatow, Tal- Our exports were progressing.

There are many other-in- real position and it is satisfac-standing Claims on Life policica. double decker trains to cut down practice an a junior In the

peh and Amoy, 3,30 pm.

Manils, Honoluly, USA & Canada, feresting things on display, and tory to note that the value of A considerable part, of the overcrowding ол London's

p.m.

owing to the compactness and establishment Account, exceeds since the date of the Balance cluded in a £340,000,000 our assets, excluding the Befavallable cash has been invested suburban rali arteries are in Midland Circuit to practise in practising member of the Bar,

im your profession and also your sald: I wish to associate

membership of the Garrick Clubs Bar and myself with what has the new KC sald: I thank your

good design of the exhibition, think many people will leayo all trading liabilities by more Sheet.

provement programme for the must have brought you in close been sold by my Lord the Chief Lordship for your kindness to

mo' and the words which your Ordinary Airmail (Printed Matters, wanting to know more about the than $800,000.

PROCRESS REVIEW capital's railway system pre- touch with every personality in Justice and Solicitor-General.

Mr Luseby has led a life of Lordship has spoken and I also Samples and Small Packs For Colonies. This mail onhibi Re-establishment

Manila, Guas, motu and USA, The

The progress of the Company vented to Parliament today. England during those years.

tion may do more than many count will be reduced and will

The programme, which would Very early after the re-endeavour and

and Dn Mr Potter for what they have Bangkok, D.m

mightier schemes to educate the finally dimppear from the during 1048 can be considered

Your

British public. In ·Colonial balance sheet as our Life Fundsatisfactory.

In the Life Department, pre- underground system, would take kong and since then you have the field of battle. I therefore been so good as to say.

in fcel it a privilege today to wel-kindness could not be greater

Affairs. bullds up as a result of the

your come an old friend within the or more gracious and you may rapidly increasing renewal pre-mium income is growing very 20 or 30 years to complete. Four practised

satisfactorily and we are ap- new tube lines, folalling 40% those mium incomo...

preciably nearer the position miles and costing £114,000,000, practice you have found time to Bar. You will believe me when be sure that I am deeply sen- where our renewal income will are suggested as first priorities, assist the law. in two respects. I say it gives me great per-sible of the honour which has

I hope and been dono and the kindnesslow, FIRE ACCOUNT! Premiums take up the strain of the cost-Router.

Last year, at my request, you sonal pleasure. show a small increase of $13, of new business.

look upon yourself the oditor- trust he will practise long in which has been shown to me. Ishall

Closing Timed By Air 900, Claims are heavier than In each of the other Depart- SILVER NOT FOR ship of the Hongkong Law Ro- this high honour of our proles- My Lord, I can only promise

Lordships Uls. your In 1947 but the result of the ments a profit is shown on the

ports and I am very happy to lon

My learned friend, Mr Leo always endeavour to remember HK BANK any that as a result the Law

Okinawa "klid Japan; : 830a.m. account is good. The balance your's workings v vrt of the account, which it is re- We are still concerned over The consignment of allver Reports from the beginning of d'Almada, regrets that he in une that this Bonour, to me quite

Killa, 18:20 pm). the re-occupation until the end avoidably absent this morning unworthy, which has been (re 133810-am ford), TM. commended be carried forward conditions in parts of the Com which arrived in Hongkong of 1947, were out in the hand owing to his attendance at the given, carries with it also closing Times by sea

---Stratis, and Rangoon, 10 am. or the Fire Fund, represents pany's field of operations, par- from the United Kingdom in of the printers some month Executive Council. He express obligations,

*URA, Cemus) und Soutit Amkrien Hearly 03 percent of the your's leularly China, where pros the RMS Canton yesterday was ago, and I hope will be shortly ly desires to associate himself Mr Loseby was warmly con- premiums against about 40-perspects of recommencing our not consigned to the Hongkong available to the professions The with this welcome at gratulated by matty of his cent of the 1047 premitung with business have receded, and and Shanghai Bank; no had been Law Report for 1910 will go Replying to the speeches of friends after the Court 40 vix Vancouver-1.0.8. which way started/ine Year, Burma,

are the disturbances reported.

to the printer, I hope, tiext welcome and congratulation, Irisenac

count."

With this change I think you 1948 and due to liquid funds re- will that our accountstained at branches, particularly

agrce give a much better view of our in Java, for payment of out-

HEAVIER

Ac-

Cross.

Train Plan

for

these years you bulit up a busy

London, July 4-Plans

the

Cortot

from the shock of discovering that they were not models, I talked to one of them. He was a Gold Coast Mounted Police- man, one of two flown over specially for

the exhibition Their tattooed faces were com- pletely immobile as people wan dered by, eyeing them curiously, and saying rather audibly wonder if we could talk to them."

- TUESDAY, JÚLY **

"Production in the Colonies *Closing_Times By Air

illuminated Canton (CPO) 9 a.m., 12.30 pin, made, use of an 2 pm. 330. pm: (GPO) 8.30 am., map--this time to show how

Ate: Parcel Ports for Manila, Hono- Julu and USA. (CPO). 457 pm: (OPO) Dm

more than double. the existing | occupation you come to Hong-the Courte, achievement in thank the Solleltor-General and (CPO) 4.30 p.m.; (GPO) I p.m.

os an advocate Courts. Outside

Closing Times By Sea

Manila 3 pm Japan, 3 pm, Haihow, Pakligi via alhow and Bangkok, 3, p.m.. gm.

haphos p

WEDNESDAY, JULY

viskan gancisco, 1 pam

Balgon m

alanila and Farosis only for Stars meilles: 3; p.maja

--TOURSDAY, JULY 1 Closing Times By. Air

Nangoon, Calcutta, Karachi, (fisern, Nairobi,--Mombasa," "Dar-es-Salaam, Mauritius - -Johannesburg and Chiro yla-Karachi}, "Alexandria, Noms and | London,: (CPO)" 4.30 p.m.;.. (GPO)

Singapore,pm

* Bangkok, Batavia, Colombo, Byte nayaand. Auckland, & punish

(Japan, 18 "pungin Donator chaing. Times by dea:

› Strait Ceylon, Ingis, Madagnsvár) Mariittu Lant-and-south-ig t | Bombay,. Adan, RHYPE=ang, Xurone)

via-London, 8. pané (par

Page 5Page 6

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