PRESIDENT LINERS
are
LUXURY LINERE
with Every Stateroom, Outside, Largs and Airy
NEW YORK
VIA MANILA, SINGAPORE, PENANG, COLOMBO, BOMBAY,
SUEZ CANAL, NAPLES,
GENOA AND MARSEILLES
S.S. PRESIDENT PIERCE
·Sails Sunday, December 19, 4.00 p.m.
SAN FRANCISCO, SEATTLE & VICTORIA
VIA KOBE & YOKOHAMA.
S.S. PRESIDENT MCKINLEY Sails Monday, December 20, at 6.00p.m. DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE
12, Pedder Street.
ODAYS
10 DAYS
5 DAYS
GoEMPRESS to America, Europe
THE CHINA MATE, DECEMI
LIGHT'S GERMANY NOT
CHINA LIGHT'S NEW POWER STATION
The construction of plant ade quate to deal with any increased de mand for electricity, was reported by Mr. A. H. Compton, the chair- man, at the annual meeting of the China Light and Power Company held this morning at St. George's Building.
FISHING IN
TROUBLED WATERS
Shanghai, Yeste
sterday: Relations between · Cama
Germany after formation of the provisional government in Per
Mr. Compton said: Gentlemen, The Directors of your ping, are dealt with in a leading Company are glad to have Been able to place before you a satisfactory ac-
article the "China Press count of the past year's working and day. it will be seen that the net profits have increased from $895,637.45 to Germany, says the paper, has $952,104,54
always wished to see a strong
I am sure you will wish me to thank and flourishing Chima, having our Manager and Staff (both Euro lent her material assistan pean, and Chinese) for their unsparing
efforts to further your interests. and will certainly not now would specially mention that most ar-fishly fish in troubled wat duous work resulted from the pre-the Far East. cedented typhoon in September but all
difficulties were successfully overcome That Germany has abstained In view of the continued increase in from negotiations which could the demand for electricity, your Direc-upset Sino-German relations, tors felt that it was prudent to con- is shown by her foreign policy, struct at this time a larger power
house than was at first contemplated, as, she has always respected in order to provide for the installa- Chinese integrity. tion later on of further generating plant as required. With the power will never forget the services of The paper says that China. house which we are now building, we the German military advisers, shall be able to instal additional plant
with very little inconvenience and and the visit of the German Am- practically no disturbance to the plant bassador to General Chiang Kai- operating in the building. It is easy shek with the object of finding to understand that to have building a means of putting an end to operations going on as an extension to the present hostinties. Trans
* power house in which we have valu-} able and delicate machinery in opera-Ocean. tion is highly undesirable.
As my predecessor in the Chair mentioned, orders were placed last) wear for a 12,500 K. W. Turbo-Alter- nator and for a 120.000-1b Boiler, and I am glad to say that we may look forward to those being in operation by next AutarIGER.
NEW POWER STATION
In order to provide funds for ORT expenditure in connection with the new power station, it seemed expedient to offer to shareholders at $5 per share a new issue of shares in the propor tion of one to nine, and I feel sure that this will have had your approval It was decided to call up $2.50 per share will be called up when required). but it is not anticipated that this wall be earlier than the end of next June.
LOCAL SHARE MARKET
list of changes and
in local share quotations this
SHIPPING
Douglases $4871⁄2 b.
EL K. Steamboats $8.20 b. DOCKS, WHARVES, GODOWNS ETC
HK and W. Docks $28%
PUBLIC UTHATTES Chua Lights (Old) CR $1 China Lights (New) CR $10.80 5.
K. Electrics $52-s
INDUSTRIALS Cements $124-s
MISCELLANEOUS Entertainments 35 b... China Lights Rights $5 b., $5 Hong Kong Mines 13 cts. s.
The figures you have before you instify your Directors in recommend ing a dividend of 50 cents per share. In doing this, I should like just to say! that, whilst we see no reason to think that we shall not be able to maintain this rate of dividend, yet in times so full of uncertainties it is well that shareholders should realise that a falM–) Yan- Honoluiu cOUTER.
ing off in our earnings would make it Victoria necessary to reduce the dividend, Leave Azrive
It occurs to me that it will probably interest shareholders to know that this Company is in the fortunate position Jan. 12 in stock and to come.
of having ample supplies of coal both 1/238.
Hong Shang Naga- Empress Kong
Lazve
saki
Arrive LeaVE
Kobe
Leave
Toko hams
Leave
Canada Dec. 24
Jan. 26 Jan. 28 Jan. 30 upan Feb. 8 Feb. 10
Dec. 29 Feb.
31 Jan
12
Feb 26
RESUMPTION OF CALL AT SHANGHAI
Commencing with the Empress of Russia from Hong Kong
26, 1938, Canadian Pacific “EMPRESSES” will call at Shangha
eastbound
„Toyage.
The Empress of Asia from Vancouver will call at Shanghai
ry 24th, en route to Hong Kong,
SAILING TO MANILA
Empress of Japan on January 14th.
Canadian Pacific
I now propose
That the Report and Accounts presented be adopted and passed, that & Dividend of 50 cents per share the "old" shares and 37 47 cents share on the 1936 Issue declared in respect of the wear ended 30th September, that the undivided profits, transfer of $80,000 to Be General Managers' Rights, be forward.
After this has been seconded, I will
LOCAL DOLLAR
demand
the Hong morning
ilver was quoted at 18- rward” at 18-3/16.
ndon on New York quoted at £ US$4.9960 New York on London rate US$4.99-13/16.
Singapore Raw Rubber
answer questions from shareholders be- Messrs. H. B. Joseph and Co.
fore putting the Meeting
to the have received the following quota- tions in Straits Currency for Raw
Mr. S. M. Bander seconded and the Bubber report and accounts were
ly passed
OTHER BUSINESS
Mr. J. P. Braga and Mr. L. Kadoorie were re-elected directors on the pro- position of Mr. Fullerton, seconded by
Jan/March
April/June 21
July/Sept
Market Flat.
down 4-
Mr. J. Edgar and Mesars, Lowe, Bing Braga, secretary, and the following ham and Matthews and Messrs. Lin-shareholders, Mesars, S. M. Bande, A stead and Davis were re-elected audi-E Ellis, H. Summers, J. J. Edgar, tars on the proposition of Mr. 7 M/M%) Jack, seconded by Mr. K. C. Mark Alach
Kin-fan, Ezra Abraham, J.- A. de S. Alvarez, C. M. The following attend r. A HEC. Mak, King Cheung, Fung Compton, chairman, Sir Elly adoorie, hing, PAC.
Chuge Sen Mr. J. P. Braga, OBE, Mr. Ex rence Kadoorie, Hon. Mr. M. K. Lo, Me. D. W. Muston, manager, Mr. Li
Marray, deputy manager, li
Pak
for 13