CAME ON FORGED PASSPORT IN SEARCH OF WIFE
THE CHINA MAIL, MARCH 9, 1938
TELEPHONE CO. COMPLAIN OF ORDINANCE RESTRICTIONS
Complaint against unneces-ed since the 31st December last with the result that your investments now. sarily exacting. interpretations show a depreciation of 3.1 per cest, only of the Telephone Ordinance re-on their original cost. garding the finances of the Hong
RESERVES Haskel P. Lavit, 32, a Russian, ze
Kong Telephone Company were siding at the European YMCA, was
The necessity for an this morning charged before Mr. R.voiced by Mr. A. L Shields, Fluctuation Reserve has been Edwards at the Central Magistracy Chairman, at the annual meet-red to on several previous occasions with possession of a forged Esthonian ing of the shareholders, held at passport and with entering the Colony Exchange Building to-day. without a valid passport.
in
Investment refer-
the
from this Chair and whilst it has not yet been found possible to estab- lish such a reserve. I can assure share- Defendant asked that a lenient view 1 The chairman said:-
holders that the matter will continue be taken. He had been cheated by
Signs were not lacking in the ear satisfactory solution has been reached. to remain before your Board until a friends in Shanghai and seperated lier part of 1937 of a gradually in- In this connection I would explain, that from his wife by the war. He obtain creasing demand for telephone service the Telephone Ordinance imposes cer- ed the passport and knew it was a for- and this upward trend became accen- tam restrictions upon the free actice gery but was most anxious and des- tuated during the latter part of the perate to meet his wife. He arrived rear by reason of developments
of your Company in relation to here in the Taksang but was told when the Far Eastern situation. It is im treatment of the Accounts, and whilst he booked passage that it was going possible to forecast what the future your Directors are not averse to any straight to Canton. On arrival here. holds, but your Directors are not un-
form of reasonable control, they can- he was informed that his wife was aware that gains in lines obtained un- not favourably regard unnecessarily now in Manila. He was willing to re-der the abnormal conditions, now exist tions which result in the enforcement exacting interpretations of certain sec- turn to Shanghai and was able to pay ing. are not necessarily of a perma of a policy that might be regarded as his own passage.
ment nature and, as far as is practic-running counter not only to the best It is believed that the informationable, are endeavouring to shape your interests of your Company but to the given by defendant to the Police will Company's policy accordingly. enable them to trace the source of
course which ordinary business prud- forged passports, of which according
HEAVY TYPHOON DAMAGE ence demands. to Sergeant, Russell, there are quite a The balance from Working Account} number about. Defendant had obtain-is some $30,000 lower than that for ed the Shanghai British Consul's tran- sit visa on the passport.
>
An expulsion order was made.
U.S.
TAX BILL
Washington, To-dzy.
The House has approved the clauses of the Tax Bill providing for changes in the present Cor porate Undistributed Profits and Capital Gains Tax.
It is hardly necessary for me to re- mark on the changed conditions in this the preceding year and is accounted Colony since the Telephone Ordinance for mostly by certain items of a non- was framed in 1925, or to stress the recurring nature, including more than necessity for a revision of its enact- usually heavy repairs, made necessary ments in order to bring them into line by damage to plant occasioned by the with existing conditions, thus eliminat severe typhoon of September lasting anomalies which the factors of Revenue from Interest. Dividends and time and expansion have made appar- Exchange is shown at $148,070.21′ and ent.
represents an increase of approximate-
It might be appropriate here to re- I $20,000 over the corresponding cord the fact that no increases in figure for the year 1936.
subscription rates have taken place
show'
a
STOP PRESS
I would direct your attention to over a period of nine years and it is the fact Investments that
perhaps not sufficiently appreciated by subscribers that this stability in the depreciation of $356,218.05 on cost This works out at just over 95 per existing low rate level has only been cent and I venture to suggest that achieved by the development of sub- The President has signed the you will consider the position to be sidiary sources of revenge. Bill to maintain the full capital of not unsatisfactory having regard to
TRUNK LINE the Commodity Credit Corporation in the period under review. As you the Trunk Line to Canton, which has the conditions which prevailed dur- As an illustration I might quote at U.S.$100,000,000.--Réuter.
are aware market values have improv contributed materially to your operat
ing income and has played its part in subsidising local telephone rates. The same can be said of other work normally outwith the sphere of 20 operating Company, obtained largely on the initiative of your staff, and gladly undertaken by your Company in the full knowledge that the profits ac cruing therefrom would be utilised solely to maintain rates of subscrip tion already at a low level, without. any direct benefit to shareholders. It would be unreasonable to expect, how, ever, that your Company should con- tinue to display its customary initia- tive and enterprise along the lines! just mentioned without prospect of some suitable reward for the addition- al work involved"
Remington Rand's
LATEST PORTABLE ADDING MACHINE
with
DIRECT SUBTRACTION
到
Ben ajou kapi
Available in HAND or ELECTRIC
MODEL
Truly portable, amazingly fast and, of course, simple to oper- ate Listing capacity 9 figures, totaling capacity 10 figures. Totals are automatic-no further need to depress total keys. All feature keys are operated electrically: the sub-total, the correction bar, the non-add, etc. Single or double spacing, extremely legible type. A complete porta adding machine: for listing, adding, subtracting and multiplying.
MUSTARD & CO., LTD.
(Head
DAVID HOUSE HONG KONG Phone 31141
-SHANGHAI)
ISS. Bldg, 147, The Band, CANTON Phone 13746.
The year under review has witness ed a remarkable extension of Trunk Line facilities to an increasing num- ber of Cities in China, although com- munication with places in the North, notably Shanghai, has been interrupt- ed The necessity for a trunk tele- phone network throughout China has never been more evident than it is to day and the rapid developments which have recently taken place in that direction augur well for the future. I think it fitting, before leaving this subject, to pay tribute to the meri- torious work performed by the Chin ese Telephone Administration im inaintaining communications under ex- tremely difficult circumstances.
TEL. 20022 or 33993
OFFICE APPLIANCE
CO., LTD., Tel. 28607-
For
EFFICIENT REPAIR SERVICE
OF ALL OFFICE EQUIPMENT
LORD TENNYSON MAY
PLAY IN HONG KONG
SECONDER'S SPEECH. Mr. Le Tse-Fong said: It is with pleasure that I rise to second the f adoption of the Beport and Accounts. The results of the year's working are eminently satisfactory. Shareholders will, I am confident, wish me to contained but I suppose youth must be gratulate the Directorate and Manage-
(Continued from Page 1)
ment on the excellent results achieved served."
and to extend a special word of thanks Lord Tennyson, who appears re- to the staff of all grades whose keen markably active and whose appear- interest in the welfare of our Comance quite belies his 48 Summers, pany has contributed so largely to
the maintenance of the high standard said that as reported, he had
of telephone service to which we have tired from first-class cricket. al- become accustomed in Hong Kong, though he still intended to play Club
Your explanations, Mr. Chairman,
cricket
of the resricitve effect of the Tele phone Ordinance are instructive and
afford shareholders a fuller realization animously approved-
of the difficulties which must
OTHER BUSINESS
front our Administration in deter- Eon Dr. B. H Kotewall and Mr. mining the Company's future policy, J. Scott Harston were re-elected
a the Board of Directors. encumbered as they must be by
Messrs. Lowe, Binghuni and Mat-
rigid system of financial control which, when designed twelve years ago, may thews were re-elected as Auditors to have been applicable to the then exist the Company
ing conditions but has now become quite obsolete by reason of the almost complete transformation which has oc curred
Printed and Published for the Pro-
which obviously could not prietors. The Newspaper Enterprise at that time. Ltd, by GORDON GADE BURNETT, at 34, secounts, was un-1 Wyndham Street Victoria Hong Kong.
hase, ben pre
Adoption of