JO DAYS
PAYS
GoEMPRESS to America, Europe
Hong Shang- Empress Kong
hai of
Leare Arrive
Naga-
zaki
Leave
Yoko- Kobe hams
Leare Leave
Honolulu
Leave
Aria Mar. 30 Apr. 1 Apr. 3 Canada Apr. 14 Apr. 16 Russia Apr. 27 Apr. 29 -May 1
Apr. 5 Apr.: 7 ́ Apr. 14 Apr. 19 Apr. 21 Apr. 28 May 3 May 5 May 12
Van- conver
Victoria Arrive
Apr. 20 May 3 May 18
Air-conditioned equipment on C.P.R. Trans-Continental Trains. Frequent Canadian Pacific Atlantic sailings to European ports.
TO MANILA
Empress of Canada on Friday, April 7th.
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
THE CHINA MAIL, MARCH 29, 1939
Rope Company Has Good
Year
A SATISFACTORY YEAR'S WORKING WAS REPORTED BY THE HON.. MR. A. L. SHIELDS, CHAIRMAN, AT THE AN- NUAL ORDINARY MEETING OF THE HONG KONG ROPE MANUFACTURING COMPANY, LTD., HELD THIS MORN- ING AT 10, DES VOEUX ROAD, CENTRAL.
The chairman said:-
The turnover of Rope last year shows[kok continue in occupation, and we The Factory Buildings at Ma-tau- a marked increase over that for 1937, have recently and this is reflected in the accounts for an extension of the present lease concluded negotiations now laid before you, which I. think may for a further term of three years. be considered satisfactory, in view of the keen competition with which we have had to contend throughout year,
the
FEES INCREASE"-
In
You will have noticed in the Profit and Loss Account a return to the au- thorised amount in Directors' Fees and The profit on working account $45,597.64 better than the previous year Managers which is still below that pro- is an increase in Commission to General and the income from rents collected is vided by the Company's Articles. $63,967,70 as compared, with $48,772.85 this connection I wish to remind you in 1937-an increase of $15,194.85. This that in 1935, owing to then prevailing is due to the Kennedy Town Houses conditions, your Directors and General having been fully occupied since month of June, 1938, and provided the their remunerations by 50 per cent. and, the Managers voluntarily agreed to reduce tenants remain in occupation, the full on reference to subsequent accounts it benefit of the additional rent obtained would be seen that no change had since therefrom will be gained in the counts for the current year.
ac-been made in respect thereto.
LOCAL SHARES
These savings together with other economies which your Board effected, have contributed vory largely to bring the Company to its position to-day and in view of the increased earnings last decided to year over those of 1937, your Board amount in respect of Directors'
charge the authorised Fees and with regard to the General Man- Hong Kong Bank $1365 b., $1385 sa creased to three-fourths of the minimum agers' Commission, this has been in- authorised by the Articles of Associa- tion.
Following is the list of changes and enquiries in local share quotations this morning:--
BANKS
INSURANCES
Union Ins. $479 8.
SHIPPING
Douglases $70 b.
DOCKS, WHARVES, GODOWNS,
ETC.
H. K. and K. Wharves $111% s. H. K. Docks $10% b., $16.70/60 sa.. Providents $4 b.
Raubs $8 b.
MINING
H. K. Mines 4 cts. s. Antamoks Ps. .41 sa. Atoks Pa. 35 sa.
Baguio Gold Ps. .25% sa. Benguet Consol. Ps. 12.50 sa. Coco Grove Ps. .41 sa. Consolidated Mines Ps. .003 sa. Demonstrations Ps. .14% 8. I. X. L. Ps. .62 83.
Paracale Gumaus Ps. 17 sa. San Mauricio Ps. 1.98 sa. Suyoc Consol. Ps. .19 sa. United Paracales Ps. .71 sa.
遭
LANDS, HOTELS & BLDGS. H. K. and S. Hotels. $5 b. H. K. Lands $36 a., $36_sa. H. K. Realties $4.40 b.
PUBLIC UTILITIES H. K. Tramways $16.20 b. China Lights (Old) $8.10 b. H. K. Electrics $50% b.. Telephones (Old) $23 ɛ.
INDUSTRIALS Cements $13 b., $13 sa. H. K. Ropes 34 b.
STORES, &C. Dairy Farms $21 b., ex. rts. Wing On (H.K.) $42 b.
MISCELLANEOUS Entertainments $6 b. Marsmans Inv. (Lon.) 8/- 14/- b. Marsmans Inv. (H.K.) s/- 5/- så. Dairy Farms Rts. $15% 88. »
INDO-CHINA
The staff have also co-operated and worked hard to attain the result now placed before you and I hope that you will approve the bonus recommended by your Board,
NEW MACHINES
When I addressed you this time last year I mentioned that some of our ma- chines would need replacing. You will see in the Balance Sheet that we have expended the sum of $49,811.88 on ad- ditions to Plant and Machinery. The new machines are now being installed and will soon ba in operation, poli
The usual provisions have been made for. Depreciation on. Buildings, etc., and on Plant and Machinery your Board decided to provide an additional $80,000 depreciation. The Stocks and Stores have been valued at cost or un- der.
Now as regards the prospects
for the current year, conditions out here in. the East as well as those in Europe do not permit me to say more than that- we have made a good start in spite of the strong competition and I hope that we shall continue to.hold our own dur- ing the present year.
I do not think that there are any other items in the accounts that need. special comment, and I will therefore propose that the. Report and Accounts be adopted and passed, and that the amount of $188,460.70 at credit of Pro- fit and Loss Account be appropriated as follows:-Pay a dividend of 40 cents: per share, absorbing $80,000; Pay u bonus to staff $3,945; And carry for-- ward to 1939 Account $54,515.70.
Mr. J. P. Braga seconded and the re-- port and accounts were unanimously adopted.
OTHER BUSINESS
Mr. J. P. Braga and Mr. S. T. Wil-- liamson were re-elected directors on the proposal of Mr. S. C. Lau, seconded by Mr. H. Dreyer, while Messrs. Linstead and Davis and Messrs. Percy Smith,.
STEAM. NAVIGATION COMPANY LTD Seth and Fleming were re-elected au
T. SWATOW, SHANGHAI !.. To SANDAKAN.
CHEFOO & TIENTSIN. "Chaksang" 29th Mar. Noon "Kwaisang"
"Yusang" “Woseng” "Yatshing"
31st Mar. 10 a.m. 2nd Apr, Noon 5th Mar. Noon 7th Apr. 7 a.m.
"Mausang" 1st Apr. 10 a.m).. To SINGAPORE, PENANG AND CALCUTTA. “Yuensang" 31st Mar. 2 p.m. "Hosang" 10th Apr. 2 p.m.”
Suisang
21st Apr. 2 p.m.
TO HAIPHONG. Taisang "Esang"
12th Apr. 3 p.m. Mingsang” 14th Apr. 7 a.m. "Taksang
Calls at Tsingtau.
To KOBE & 08AKA
29th Mär. 5 p.m.
1st Apr. 8 p.m.
4th Apr. 8 p.m.
12th Apr. 5 p.m.
ditors on the motion of Mr. Kam Wai-- kin, seconded by Mr. J. Dick.
The following attended:-The Hon.- Mr. A. L. Shields, Mr. S. T. William- aon and Mr. J. P. Braga (directors), Mr. F. J. Tavares (secretary) and the following shareholders:-Messrs. S. C. Lau, Kam Wai-kin, A. A. Botelho, H. Dreyer, J. Dick, K. P. Bailey and I. W. Shewan.
EXHIBITION
of "Artistic Photo-Portraiture By Josepho Studios of Shanghai. JACOBEAN ROOM HONG KONG HOTEL Opening 10 a.m., March 29 For Ten Days Only
Admission Free