RAILWAY
ODAYS
TO DAY
$5 DA
GoEMPRESS to America, Europe
ANNOUNCEMENT
SPECIAL RETURN FARES
TONG KONG
to
CANADIAN & UNITED STATES PACIFIC COAST PORTS
Effective immediately for "Empress of Asia” May 25th, 1939, until "Empress of Russia" October 13, 1939.
Return Limit Six
EMPRESS OF JAPAN EMPRESS OF CANADA
EMPRESS OF RUSSIA
EMPRESS OF ASIA
Months
First class Tourist Class
US$637.00 US$382.00 ‚US$622.00 US$367.00
·US$562,00 · US$322.00
· US$562.00
US$322.00
Canadian Pacific
Union Building
SPANS THE WORLD
Telephone
20752
G. FALCONER & CO. (HONG KONG LTD.)
WATCHMAKERS & JEWELLERS, DIAMOND MERCHANTS.
UNION BUILDING (opposite G.P.O.)
Agents for:-ADMIRALTY CHARTS, ROSS' BINOCULARS and TELESCOPES. KELVIN'S NAUTICAL INSTRUMENTS, ENGLISH SILVERWARE Direct from Manufacturers,
High Class English Jewellery
PRESIDENT LINER
SAILINGS
SAN FRANCISCO AND LOS ANGELES
Vin
SHANGHAI, KOBE, YOKOHAMA AND HONOLULU
*8.8. "PRESIDENT CLEVELAND" 'SAILS MAR. 11th at 4.00 P.M
*9.8. "PRESIDENT PIERCE”
6.S. "PRESIDENT COOLIDGE”
8.8. "PRESIDENT TAFT"
SS. "PRESIDENT CLEVELAND”
9.9. "PRESIDENT TAFT"* ·
"
MAR. 25th at 4.00P.M. APR, 8th - at. 6,00 A.M. APR. 21st at 8.00 A.M. MAY 5th at ́8.00 A.M. MAY. 19th `at 6.00 A‚M.
AND FORTNIGHTLY THEREAFTER OMITS SHANGHAI
NEW YORK AND BOSTON VIA SUEZ
A.S. “PRESIDENT GARFIELD"
S.8. "PRESIDENT MONROE"
SAILS: MAR. 17th at 12 Noon
MAR. 20th at 9,00 P.M. “.
AND FORTNIGHTLY THEREAFTER
MANILA
THE CHINA MAIL, MARCH 9, 1939
H.K. ELECTRIC INCREASE IN POWER OUTPUT
Increased output with consider ably higher profit on working was reported by the chairman, Mr. H. V. Wilkinson, at the annual meet
ing of the Hong Kong Electric Com- pany held this morning.
happy to tell you that Mr. W. H. Wick- ham who was Chief Engineer and Manager from 1888 to 1910, and the Company's London Representative from 1910 until 1930 and so ably guided the Company through, its carly troubles is still enjoying a well earned retirement in England. We realise that the suc- cess of the Company is due in no small measure to the loyal efforta of our Agents, Staff and Workmen. It in usual for the Chairman, on your and
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the Directors behalf, to thank the Manager and his Staff for their loyal services during the year, but this year, in addition to our thanks I feel suro you will approve the bonus which your the. Staff in recognition of this special Directors propose should be granted to occasion.
The Hon. Mr. A. L. Shields, seconded the proposal, and the report and ac- counts were unanimously adopted.
OTHER BUSINESS
The chairman said: The nett profit after providing for Mr. H. V. Wilkinson, the Hon. Mr. depreciation is $2,142,141.02 and with T. N. Chau, the Hon. Sir: Shou-son $266,992.26 brought forward from the Chow and Mr. T. E. Pearce were re- last account, wo have the sum of $2,-elected. drectors on the motion of Mr. 409,188.28 for appropriation:
B. Wong Tape, seconded by Mr. J. On September 8th 1988 we paid an Gardner, while Messrs. Linstead
and interim dividend of $1 per share, which Davis. were re-elected auditors on the absorbed $600,000 and with the balance proposal of Mr. A. McKellar, second- we propose:—
ed by Mr. Leung Fat-tin. To pay a final dividend of $1.50 per
The following attended: Mr. H. V. share absorbing $900,000; To pay a Wilkinson, chairman, the Hon. Sir cash bonus of $0.75 per share absorb- Shou-son Chow, Mr. T. E. Pearce, the ing $450,000; To write off investments Hon, Mr. J. J. Paterson, the Hon. Mr. $147,276,21; To pay a jubilee bonus to Stanley H. Dodwell, the Hon. Mr. T. Staff and workmen $43,976.22; To car- N. Chau (directors), Capt. F. L. Brown ry forward to next account $267,880.85 (acting manager) and the following which I hope will meet with your up-shareholders:-Ko Koon-fan, E, E. proval.
Osmund, Lo Kai-wing. B. Wong Tape.
·
The proposed dividend and bonus are J. Gardner, the Hon. Mr. A. L. Shields, 25 cents better than last year, and al- A. McKellar, Wong Chi-po, Leung Shiu- though we have not added to the re-lou, Leung Fat-tin, Chua-Seng-choo, H. serve I feel sure you will approve the Gittins, Lo Yuk-tong. proposal to write off the fall in the value of our investments, which has now been shown in the balance sheet! for five years. Our investments are all in good local dividend paying stocks and we have received in dividends con- siderably more than the losses we now propose to write off.
HIGH OUTPUT
LOCAL DOLLAR ·
The demand rate on the Hong Kong dollar to-day was 1/2-25/32.
"Spot" silver was quobod in
The output from the Generating London at 20-9/16 and forward Station during 1938 was 64,510,226 at. 19-7/8. units, an increase of over 5 million units, or 8.88% over 1937, and you will notice that the profit on working is was quoted at £U.S.$1.69
the New York-London rate $259,624.10 more than last year.
The London on New York rate
LOST
This satisfactory result has been ob-£-U.S.$4.69-1/16. tained without any increase in our standard rates for current and in spite of an increase in the cost price of coal. of 45% and of considerable expenses caused by a serious breakdown on No. 7 Turbine last April.
Gross Bad Debts at $728.91 are the lowest on record.
The loss on realizaton of investments was on the sale of "Star" Ferry shares.
Full depreciation, has been allowed, for at $724,377, an increase of $43,479. The expenditure on Capital Account this year has been $1,546,388, three quarters of which was at the Generat- ing Station,
The 15,000 kilowaft Turbo-Alternn- tor was completed and the set put into operation in August, and I am glad to be able to tell you that it is giving very satisfactory results.
of
By the end of the year good progress had been made with the erection the new 100,000 lbs. per hour.. Stirling} boiler which has since been put in com- mission.
JUBILEE YEAR
Meters connected increased by 3,432 |to 46,510. Part of this increase" is doubtless due to the abnórmal' times through which we are passing; I anti- cipate however a falling off in the num- ber of meters connected when normal times return. ⠀
and at
LOST.-Near Kowloon ferry, one brown leather. despatch case, contain- ing box. Finder rewarded. Communi- cate with Box No. 127 e/o... “China Mail."
URISTESAL
CURES
Infection of Urinary Tracts
RHEUMATISM
ARTHRITIS
UREMIA
Sold Everywhere.
LUMBAGO
GOUT
Sole Distributors:
No doubt you will have noticed that, this is our 50th annual general meet- ing; the 50 years of the Company's existence has been n period of extraor- dinary progress in all branches in Science and Engineering and many changes have taken place in the ma- chinery and plant which this Company UNITED TRADERS has used to provide Hong Kong with its electricity supply; from a small be- York Building ginning this Company has grown from strength to strength, and I think we may justly say that we now give an cheap and reliabla a supply `as any other supply company of our capricity, and at the same time are able to pro- vido 'shareholders with a reasonable return on their investments; I doubt IT
S.8. "PRESIDENT GARFIELD" SAILS MAR, 17th at 12 Noonany of the original shareholders, remain
9.8. "PRESIDENT. PIERCE":
8.8. “PRESIDENT COOLIDGE"
8.S. “PRESIDENT TAFT"
MAR, 18th at 6,00 P.M. MAR. 31st at 9.00 P.M. APR. 14th at 6,00 P.M.
✰✰ AMERICAN ★ ★
PRESIDENT LINES.
ROUND WORLD SERVICES,
12 PEDDER ST.
TELEPHONE 28171
in the list of shareholders but I am
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