***
Library, Sororome Court
THE CHINA MAIL, MARCH 26, 1940
Page
ANNUAL MEETING OF
H.K. WHAMPOA DOCK QUEEN'S & ALHAMBRA
"THE GROSS PROFIT OF $1,585,533.19 IS RATHER LESS THAN THAT OF THE LAST TWO YEARS. I TRUST YOU WILL CONSIDER THE NET PROFIT OF $1,109,214.62 TO BE SATISFACTORY." SAID MR. S. H. DODWELL, CHAIRMAN, AT THE ANNUAL MEETING OF THE HONG KONG AND WHAMPOA DOCK CO., LTD., AT NOON TO- DAY, PRESENTING THE REPORT AND ACCOUNTS, HE SAID:-
A new club house has been bullt, at Kow- loon Docks.
BETTER DAYS RECALLED
Stocks of materials are adequate, aredition, has been, installed to pump Hope conservatively valued and in view Dock which is now more efficient than it of the rises brought about by the War has been for twenty years. we do not consider it necessary to appro- priate any of the year's profit to write them down. The overdraft is only very slightly Our larger craft are in good order and to reduced from last year's figure, mainly at | the small craft we have added three diesel tributed to developments to which I shall driven. boats, one of which replaces a har refer later. Depreciation is at the usual bour work launch which was beyond econo- rates and is slightly higher in total than mical repair. This is a long list of develop. Last year, due to increase of our facilities.ment work, but it was, work that we were
The year under review had no outstand- bound to do. ing characteristics until the start of the war in Europe. We were fairly well em-
There has not been and there will not be ployed with repair work and were happy to
any profligate spending, but if we are to start the year with orders for two ships
attract and retain clients we must keep an and a little later secured the order for a
everwatchful eye upon the maintenance of third. Of the first two, one, the Karuah,
our efficiency. You will thus appreciate was delivered to owners before the promisin 1939 and why we have to.. recommend why our overdraft is only slightly reduced ed date. The construction of the others has comparatively large sums being placed to been somewhat affected by the war but is well advanced.
reserve, and why we have decided to make We also received an order
as a matter of interest, I. might. point out a fresh issue of capital. At the same time,
that the percentage of profits utilised for dividends
fa early September for a 5,000-tom ship, with larger main propelling diesel engine than we have yet bail. Materials for this, ship have been slow in arriving and the pause has been utilised in getting ready for three large cargo ships which we are to build. To deal with a portion of this order the East yard, where no ship has been built since 1925, is being opened up again, but with an Improved layout of the platers machine shop and better access to the yard.
The new large machine shop which I promised to be ready at the end of 1939 was not so ready but some of its heavy machines are now installed, and worklug, and this new shop I have no doubt, will soon prove its efficiency.
NEW DEEP WATER BERTH-
I doubt if shareholders fully appreciate why we must develop in what may appear to them a somewhat costly manner calling for the creation of considerable reserves. We must be able to make practically every- thing ourselves or lose the business to places which can.
palmfest days which followed soon after the.. is about equal to that of our
last Great, War.
#
The staff have willingly formed a volun- teer unit which trains regularly twice week at the Docks, where a small range has been erected, and the "Dock Guerillas" as they nicknamed themselves, about 35 strong, will give a good account of them- selves if called upon. Others over military age have attended lectures in field work given by Major Walker, so that they could serve in the event of it being necessary. About 40 attended a series of A.R.P. lec- tures. The Chinese workmen too have will- ingly responded to the calls made on them and deserve our gratitude.
Messrs. D. Drummond and L. Kadoorie were re-elected directors. Paterson's re-appointment
and Mr. J. J. Lowe. Bingham and Matthews, and Percy was confirmed. Smith, Seth and Fleming were re-elected, auditors at a fee of $2,000 each.
CORRECTION
in
An unfortunate error appeared our report yesterday of brief proceed- ings at the Kowloon Magistracy in a case against Joseph Renee Alexander
The suggested appropriation of $350,000 for a special reserve for extension is to en- able. us to purchase from the Hong Kong Government and reclaim a portion of the sea-front on the east side of our East yard to give us an additional deep water berth. This additional deep water berth has been a great need for a long time, for, with a Turcotte. Mr. A. C. F. Andrew was Large ship under our great crane, we have been sorely put to it to accommodate others not, as there stated, directly concerned without interfering with dockings and un- in the alleged incident but was res- dockdngs, or to avoid the inconvenience of ponsible for taking up the prosecution. shifting ships when we need to use the We tender our sincere regrets to Mr. great crane for other work. This berth has Andrew for the error and apologise been considered in the relaying out of our for any inconvenience which may have East yard, and before, very long will have direct access by motor road from our Main been caused thereby.
Gate.
During the year a new and modern type caisson has been fitted to Cosmopolitan Dock. The old caisson was not the most
MINES EXPLODE suitable design but with slight alterations was adapted for the larger dock at Aber Chau Island oh Good
Seven mines. exploded off Cheung deen, where it has been fitted and replaces
Friday, No the wooden one which was beyond repair. damage to property or boats A boller, secondhand but in first-class con caused.
TAKE ANY TRAM or HAPPY VALLEY BUS.
CATHAY
DAILY. AT 2.30, 5.15,7.20;&9.30.P.M.. MATINEES »– 206, 30%, 40%. EVENINGS :–208. 30cm 60s, 70c., #0c.
FINAL SHOWINGS TO-DAY
was
THE SCREEN'S GREATEST COMEDY TEAM RE-UNITED FOR THE BIGGEST LAUGH SHOW OF THEIR
CAREERS!
ROLL OUT THE BARREL, BOYSI—
ROW? ONLY
FLYING DEUCES
of laughs, with
JEAN PARKER REGINALO GARDINER
Clark Gable — Myrna Loy-
AT 2:30-5-15-7-20-9-30 TEL 31453 + AT 230 520 720 9:30 TEL.56856 TO-DAY AND TO-MORROW
N.B.
This Picture Will Not Be Shown Elsewhere In Hong Kong For At Least Six Months!
IT'S A HAP- THE BIG SHOW'S N
·HAPPY DAY.NE
· HOORAY! HOORAY!
GULLIVERS
TRAVELS
A Full-Length Feature Cartoon IN TECHNICOLOR
8
SONG HITS
PRODUCED BY MAX FLEISCHER - DIRECTED BY DAVE FLEISCHÉR · A PARAMOUNT FICTURE
COMING SOON
An M-G-M Picture
♣ SHOWS DAILY 2.30. - $ 20 720.9.30
"BALALAIKA"
with NELSON EDDY & ILONA MASSEY
MAJESTIC
THEATRE
NATHAN ROAD KOWLOON TEL 57222
(MATINEES. 20€ - 30; • EVENINGS. 20; •30-50«70,
SHOWING TO-DAY
A FAMOUS PLAY NOW A GREAT PICTURE !
Golden
Boy
ONE OF THE MIGHTIEST EMOTIONAL EXPERIENCES OF THE SEASON....... A magnificently hu man and deeply mov- ing drama of youthfu! love and broken drazidə
that will touch pro-- foundly the hearts and wouls of all who see it!
STANWYCK ⋆ MENJOU WILLIAM HOLDEN
A ROUBEN MARKOIRIAN PRODUCTION. PRODUCED EMILIAM PERLBERG “Bernen pláy bỹ Tailgatzer, Daniel Toredach, play by CLIFFORD ODETS Columbis Picture
Added Attraction
LATEST MOVIETONE WAR NEWS
DIRECT AFTER SHOWING AT THE KING'S THEATRE
NEXT CHANGE
The Most Timely Reissue!
THE MIGHTIEST EPIC OF THE AIR FORCE
EVER PRODUCED 14
CLARK GABLE HELL DIVERS"
encer Tracy || WALLACE BEERY in
"TEST PILOT"
A Entirely New Copy of Metro-Goldwy
Super Production