P. AND 0. COMPANY

Otago Daily Times, Issue 19969, 10 December 1926, Page 11

P. AND 0. COMPANY

SPEECH BY LORD INCHCAPE. ATTACK ON MISSIONARIES. AIR COMPETITION NOT FEARED. fPrea. Aasoeiatfoo—By Telegraph—Copyright.) LONDON, December 8. (Received Dec. 9, at 5.5 p.m.) The balance sheet of the P. and O. Company shows that the divisible profits amounted to £400,746. The sum of £200,000 was added to the reserve, and £56,034 was brought forward. Lord Inchcape, addressing the shareholders, mentioned the losses of the company through the Chinese trouble. He expressed the opinion that the missionaries were largely responsible for the antagonisms and asked how British people would regard the Chinese if they studded Britain with Buddlust missionaries. Christian missions, he said, were justifiable among cruel and uncivilised peoples, but not attempts to break down China’s ancient faith. The sooner we gave up the Indian and Chinese missions the better. The Rev. Mr Hoarc, a shareholder, protested that the missionaries did not disparage the Chinese religion, but merely tried to show that their teachings were fulfilled by Christianity. The missions were in nowise responsible for the unrest. Those acknowledging the supremacy of the Christian Church must continue the missions whether they conflicted with the Peninsular Company’s or other interests. Lord Inchcape did not reply. Referring to the prospect of competition from aeroplanes and airships Lord Inchcape said he did not believe the prophesies that they would hit the shipping companies badly within the next few years. The Peninsular Company would hold its own for. many a long day, although the liner shipping was at present doing badly. A conservative statement which had been prepared by accountants showed that if the company were wound up and the ships and investments sold at the current rates they could discharge their full obligations to the pre-ference-holders and give the deferredholders more than the present market value of their holdings. He mentioned that the coal strike had cost the company £200,000 for coal alone. —A. and N. Cable. A SPIRITED REPLY. MISSIONARY AIMS PURELY ALTRUISTIC. LONDON, December 8. (Received* Dec. 9, at 5.5 p.m.) “I wonder if Lord Inchcape is aware that the missionaries work in China under exactly the same treaty provisions as commercial men,” said Mr Barclay, secretary of the Church Missionary Society. He added; “If the Chinese dislike the missionaries what about the business men? The P. officers possess the same right, but no more right than the missionary organisations. The Chinese probably realise that the P. and O. Company operates in China for its own profit, whereas the missionary aims are altruistic. Letters from our people in Western China, where there is considerable anti-foreign feeling show that they are well treated.” —A. and N.Z. Cable. PASSENGER RATES. AN INCREASE FORESHADOWED. LONDON, December 8. Lord Inchcape, at the Peninsular and Orient Company’s meeting, said that unless the prices of stores, maintenance, and repairs were lessened the passage rates must be increased.-—A. and N.Z. Cable.