Page
IMPORTANT NOTICE.
THE HONGKONG DAILY PRESS, TUESDAY, FEBRUARY 10гe,
IN Manufacturor the moes Important Point is. Improvement, and in Dietetice
Cleanliness. Science always insists on these Maxima.
Groundnut or Peanut Oil can be used as a subati uts for Olive Oil, Hutter or Lard, but when Slightly Dirty la injurious to health.
"
In China, by the Ordinary Methods of Extraction, Dirt and Dust are not guarded against: Car Method shows a great advance. By the use of New Machinery "and New Methods Scrapulous Cleanliness is Assured.
Car Machinery during the Process Filters the Oil while our Factory is Free from Dust. Our Oil is Clear, Sweet and Fragrant; and Compares most favourably with "ather Oils used for Culinary purposes: there is no residue.'"
Prices are moderate so as to induce new business.
Analysis is always given before Shipment to Foreign Countries, Foreign Correspondence wanted! Capacity per day 201tons,
NAM CHAU OIL FACTORY,
Office:-No. 197, Queen's Road Central, HONGKONG, Tel. 12017 Factory:-No. 36, Kwei Lin Street, SAMSHU(PO
The Sole Proprietorship of this concern belongs entirely to a Chinese Citizen.
HENRY HEATH
Straw and Felt
HATS
粥
Are distläctive la Style and Quality. A Heath" Hat affords its wearer a pleas- lag sense of confidence in his appearance. NEW STYLES FOR THE RACES NOW SHOWING AT
MACKINTOSH
• CO., LTD.,
Men's Wear Specialists,
16. DES VŒDX ROAD,
FOR CIGARS SMOKE-
Telephone - 29.
"EL PALACIO" & "IMPERIO DEL MUNDO "
known to connoisseurs for their flavour and aroma.
Just Received Fresh Consignments of
- Egyptian Cigarettes
THEODORO VAFIADIS & CO/S:
ין
Extra Fine, Crown Prince, Non Plus Ultra, La France, Albion, Ghazee, Dames Superfine.
+1
M. MELACHRINO & CO./S No. 4 & No. 8
Kitchen
THE HONGKONG CIGAR STORE
CO. LTD..
Hotel Mansions.
IF YOU ARE A HAMMOND USER
you need not buy a new typewriter when the type get worn; new sote of type are inexpensive, and can be put on in 30 seconde.
Two some of type are provided with each machine, others to any quantity may be purchased separately,
Simply by turning a wheel, you may change from English to Russian, from Gothi: type to Copperplate, or a whole variety of others. There are over 300 varieties of type produced for use on the Hammond typewriter. All or say By be used by say one machina.
This is bas one of the many unique features of the HAMMOND TYPEWRITER leb as demonstrate to you its further advantages.
100)
1
Messrs. BREWER & CO.,
(Solo Agents: Hongkong). ·
MEAL
TO MAKE A DAINTY
Bay ROOSTER BRAND" Macaroni, Vermicelli, Egg Noodles Pasta Stars and other kinds of Soup Stuffs from us. All our Past Products, made in a now, well- ventilated and modern style Factory, are pure, wholesome and of excellent quality.
Obtainable from all our Agents everywhere.
Sampice and Price List will be given, free of charge, on application to our Head Office.
THE HING WAH PASTE MFG. CO., LTD.
BLAD OFFICE Nos. 47 & 48, Connaught Rad Central, Hongkong, Tel. No. 2230 BRANCH OFFICE: Now 430 and 431, Nanking Road, Shanghai, Chias
63
CORRESPONDENCE
HONGKONG AND KOWLOON
-WHARF AND GODOWN
CO., LTD.
[TO THE EDITOR OF THE "HONGKONG DAILY PRESS']
COMPANY MEETING. UNION WATERBOAT CO., LTD."
SPORT.
CRICKET. UNIVERSITY 289. XI, DEFEAT NAVY
enabled them to carry forward to 1919 account. $160,523.06 instead of $40,323,96 unly This would have permitted a divi- dend for 1519 of 26 and bonus of $2 per share for the same as for 1918) "without above Company was held in the office The annual general meeting of the in any way curtailing the appropriations of Messrs. Dedwell & Co. Ltd, yester for depreciation and carry forward. As siding. The others present were Messrs. U
day, the Hon. Mr. S. H. Dodwell, pro-
wards, E.
The above match was played un tha ity ground on Satardag, snding.
Scores!--
NAVY.
I are pleased to learn that the Chair-1915, and this in face of the fact that man is, personally, disinclined to take a Hongkong know that the company had any notice of all anonymous letters and done better than in the previous year to you and that you will also approve of therefore, congratulate myself on the fact that my letter served sous purpose add touched someone on the "raw," else why did not the Chairman follow his professed principle and ignore it?
SIR. - I have read with much interest treated would have provided a further. E. crapper, & Ritchie. G. E. Edhand fun for the winners and Spain a matter of fact, the 1918 accounts, if so. W. C. Bonnar, W. Adunison, G. Otten, for the Cniversity by 0 rung the Chairman's speech (as reported in surplus of 810,000 after paying 89 in divi-Charles Gerken (Secretary). the local Press) delivered at the annual dend and bonus for 1910.
Ezra, G. M. Dodwell, and anx for the lasers; inatted well. meeting op 6th, inst., and more partion-
Instead of The CHIEMAN said-Gentlemen,-The larly that portion which dealt with my for 1919 of 82.50 per share less than for year, and including the interest on in- which the directors have paid a bonus to 847,026.03 as against 827046.14 last profit on trading for the year amounts letter of ath, idem to your journal.
last year, there is an amount available vestments and the carry forward from for distribution of 63,138.75. sure that this result will be satisfactory. I feel
Interested" a shareholder of many years' standing and is quite aware of his rights in the matter of asking ques tions without gratuitous advico from the Chairman on the subject.
I observe that the Chairman four †it uifficult to resist the conclusion that the cloak of anonymity usually conceals the critic disappointed of personal guin," and hat be confessed be "found ít difficult trace in the matter of this letter capacity to see further than the length of an ordinary nose."
The oritic, in this instance. contrary to the Chairman's hasty conclusion, has made much personal gain on his invest ment and hopes to make much more, in
due course
score.
|
it was a record year, in facty and, turally, expected a return similar to that for 1018.
8030,703.93
the allocation recommended in the report. There has saturally been a great increase in the demand for water, due to the put of 1917 and 1918 profits $10 per 1130, of course, to freah tanange making turn to the port of a large quantity of tonnage diverted during the war, and share was paid in dividends and bonuses use of the port, and our boats have been and, as the profits for 1919 were more than in either of those two years, the demand. During the year a new water- very hard put to it to cope with this least that should have been done would be ready next month, while to enable us boat has been contracted for which should have been to make, a similar distribution. to efficiently deal with the estimated Had this been done, the distribution of will be constracted, probably during the requirements of the port, a further boat 1919 profits would have been as follows:-latter part of this year. Last year, you Profits available
will remember, 89,000 was placed to Pay dividend of $6
special repairs account towards the cast Pay bonus of $1 per
per share
of certain replating that would be neces sary when the cost of stee! berahie more reasonable. Unfortunately, owing to the demand, the pressure on the boats has been too great to allow of this work. being done last year, but it will be com menced immediately the first new boat is in commission, and in the meantime your superintendent is satisfied that the not adversely affect the life of the bonts, delay carrying out these repairs will
repair fund, which is considered sufficient It is not necessary to increase this special
off 81,896 from investments to bring them You will notice that we have to write for parposts for which it was set aside.
down to their market value on December 31st,
BDarc Write off for depre Carry forward to new
ciation
account
$480,000* *
320,000.00
100,000.00
39,703,23
8939,703.23
Can anyone see anything wrong with this?
If it was deemed satisfactory in 1818 off $113,625 only, why, with larger profits to carry forward 840,503.16 after writing in 1819, is it considered imperntive to write off $27,102, and carry forward $148,382.7 year!
More than in the previous
ghiei"
this consistent, or is it playing a I appreciate the proposition that the present interests of the individual should the company, provided always it be not be subordinated to those of the tucure of overdone:
The directors of almost all Hongkongis public companies are practically the same lot, whose number scarcely excess
It is not given to every share holder to be in the happy position of the one-time salesman of the Princely House," who, at a meeting of the Hong kong Land Investment and Agency Co., Ltd. in 1891, openly fouted" the then Chairman of that Company, who hap
I respectfully sulmit that, in view of pened to be the resident Head of that self- kong during the past four years, notwith the great scarcity of shipping in Hong- same Princely House" (The Chair standing which the company made increas man of the Wharf. Co. might do women prents each year, there is every pro- than tarm up the report of that meeting ber of ships that will visit this port in this
pect of a very great increase in the num And road, mark, learn and inwardly and subsequent years, which cannot fail digest the subject matter of the discussion. to bring a corresponding increase to the It might prove educatively
company's business. Should this desir abte event happen and extra-business cessitate further expenditure for godowns,
lighters and cat, it
itis
equip atural that further capital should be raised to meet such expenditure. Such capital should not be provided out or profits. It may be very nice for our successors to provide heavily out of for their beueft but it can hardly be ccted to please present abareholders But
it must not be overlooked that Chater and Mody are the respective Matheson & Co., Ltd., and heirs-at-law to the Chairmanship and Directorship, which may or may not some influence on the policy hitherto followed by these parties in regard to the company's accounts.
The following figures speak for them- selves:
-Buildings:--
There are many shareholders in this Colony who might wish to appear at the annual meetings and criticise as well as aak questions, but, for many and various reasons, cannot afford to do so; hence the adoption of the immemorial custom of writing to the Press anonymously. Did they otherwise, they might incur treat ment similar to that meted ous to the China fail by the hon. gentleman who presides the "destinies of the
Princely Hou
Jardine, Being a shipper of Ching produce, I might not be able to cure space for my shipments by any of the many steamers which the Chairman's -controls, despite the fact that such control" is exercised either as managers or agents for the owners only.
The question is not: Who is the
But
writer or author of such letters
Is the subject matter of the Book value 31/12/1013 rather letter correct and one for legitimate Less sold 1912 criticism
It is unfortunate that the Chairman, in alluding to the correspondence, wat to throw mud" (both this and, the
.81,031,639.80
58,310.00
$1,574,729.80
Since expended in Mezzanine
and erection of new godowns 800,360.44 floors to storage godowns
Written off in 1919
attack on the anonymity of the letter being the usual refuge of one unable to pect argument by argument) by stating, that he found it difficult to trace in the matter of the letter a capacity to see. further than the length of an ordinary nose," because his opening reference to the letter in question, showed plainly that he, himself, had been led, most prob ably, by that organ by some member of the Board, who probably, drew his atten tion to the unwisdom of allowing the letter to be ignored.
The Chairman is now to his position," and I invite his attention to the figures, set forth further on, which may prove worthy of a little consideration at his hands. It might also prove beneficial to him to investigate the past records of the Star Ferry Co., which is managed by the Wharf Co., and the Board of Directors
Present book value
Sluchinery and Plant:-- Book value 31/12/1909 Additions 1910/1914
$2,176,090.33 25.000.00
$2,150,090.33
173,015,58,
39,817.70'
211,834.28
191,834.28
$ 20,000.00
written off (including 86,282.95 realised for useless or con- demned. M. and P.) des Present book value
-Railways and Hoking Stock! Book value 31/12/1908 105,778.46 Additions 1910/1914
of which is always composed of directors Written off 1910/1919 of the Wharf Co Therein,
opine, he
36,438.81
$142,217.27 122,217.27
$ 20,000.00
$ 435,794.70
503,629.67
$1,029,424.46
94,341.40
599,424,46
$500,000.00
Written off 1911/19 8505,082.97 Sale of ferry wharf
'(old)
will find much food for reflection, Present book value especially if he will take the trouble to inspect both companies? returns of Wharves: shareholders"the
Stary Ferry's, say New Wharves and rebuilding
Book value 31/12/1910. before the calling-up of the unpaid balance of the first issue of new shares,
old and after the several increases of capital had been effected; the Wharf Co.'s, say, from 1913 to 1919 and take duo pote of the boldings, at the different periods, of certain partics. Thereafter he may not. 50 ready to cast cheap jibes at anony- mous writers,
Further, since the Chairman seems so satisfied with his knowledge of the com- pany's affairs-past, present and future I would invite him to ask himself and answer, in all sincerity, whether be, as Chairman, and not another member of the Bourd, 13 first and most frequent consulted by the Secretary on all and every matter connected with the company and its business!
be
Launches Present, book value
Book value 31/12/1500" Now launches 101371914.
Kowloon over 20 Written off 1909/1019 $75,752,50
Pelican " years old sold for
4,000.00 small
700,00 10,000.00
Albatross pinnace
Lighters :- Book value.31/12/1000 Additions 19133018.
If he will re-peruss my letter he will find that my complaint was not wholly ji that the future was being too liberaliy provided for (although, as a matter of Present book valus fact, I consider it is), but that the burden theroof was the inconsistency in dealing with profits from year to year.
But as he has referred to this aspect of the question, I would like to point out that
posterity
is being unduly well pro vided for at the expense of the prerent generation of shareholders, as an inspec tion, of the figures lower down will amply prove.
On 1918 working results the director could have paid a dividend of 20 and a bonus of 8 per share, which, together with the $10.67 representing 1/3d shaw share, would have been a munifi cient distribution, and it would have
cum-
Writtan-c 1900/1910 Present book value.
West Point Wharf:- Written off, 100/1910 Book value 1909
Present book value
in
The report and statement of accounts Chairman, scended by Mr. Bonaar. were adopted on the proposition of the
at a remuneration of 8900, on the pro- Mr. C. B. Brown was elected auditor, position of Mr. A. Ritchie, seconded by Mr. A. E. Crapnell.
There being no further business, the meeting terminated.
BANK NOTES IN CIRCULATION
FOR JANUARY.
notes it, circulation and of specie in Returns of the average amount of bank eve in Hongkong during the month ended January 31st., 1820, as certified by the managers of the respective banks
Average Specie in Amount Reserve.
Banks Chartered Bank of
India, Australia"
and China 810,431,708 8 6,000,000* Hongkong ard
Shanghai Bank-
ing Corporation 20,335,161 Mercantile Bank
of India, Ltd.... 078,147
17,000,000
580,000+
Total ......$37,745,016 $22,550,000 Sterling securities deposited with the Crown Agenta, valged at £423,000.- £137,000.
t Securities with the Crown Agents,
(*And 1 new share for every 3 old, issued by appropriation of $1,000,000
from reserve).
1910
.01
-ID17
DIGI
11
1911
8.-Distribution of Profits:-
Equaliza
Year
-Dividend
tion of
Carried.
Amt
1910
$ 360,758.4R Available, and Bonus
Written off.
Dividend.
85
$188,581.48
Forwaei, $4,817.44
1912
1013
1914
1918
728,090.81
471,805.07
433,277.80
440,402,80
:618,490.91
270,228,77
3
105,512,32
70.821.17
70,830.14
$150,000
21,609.74
$100,000
24.890.48
3.
3
6
143,037.04
131,000,00
122,170.39
*25,000 Prov. fund, 101,107.46 105,805.07
-223,043.17
10
939,703,237
152,797.00
115,625,00
130,048.48
275, 103, 17
$400,000
40,823.06
188,006.23
· 19,392,03
Thus it will be seen that the
profits
in
less than
70,452.50 10 years amounted to no 47,000.00 $8,345,006.03 on'a capital of 83,000,000 up to 1918, and $4,000,000 in 1919; written off 117,452.50 for depreciation $1,249,99.50; placed to
reserve 2500,000; to equalization of div donda $150,000 to European employés provident innd 8253,000; and paid divi- dends
and bonuses amounting $3,000,000 besides distributing one new to share for every three old shares.---Youtra G0,452.50 faithfully,
"INTERESTED.' ELECTRIC LIGHT CHARGES. [TO THE EDITOR OF THE HONGKONG.
8 27,000.00
439,182:01 24,580.82
8. 403,772.13 433,772.43
-30,000.00
"DAILY FEERS:"*1
"
FIL-Since the Electricity Depart ment of Shanghai has announced a seven per rent, reduction in the prices charged for electric light, what will the Hong- 8,002,24 lustin five per cent, reduction would
kong Electric Co., Ltd., grant us 32
0,002. ZA
bo very much appreciated. Perhaps, 1,000.00 Company will consider this matter
Yours faithfully,
(Continued at foot of next column.)
A GREAT CONSUMER.
Evans, net ouT Spain, Yeoh
ilus, b Hunt"
Bryant, Yeoh Aune, b Yeoh
Ponder, Boz aut
Baker, b Fun
Collins, ..., Yeok
·Carey, b Yggå Scawn, b Pan
Extras
Yooh Hunt Pun
Total
Bowling Analysis,
0 0
3,2
UNIVERSITY. H. C. Hunt, 1b.w., & Scawn ....... K. S. Cleah, b Evans C. H. Yeoh, b Evans
H. Barney, b Evans
I. . a, b Baker,
T.
V1
e and b Evans
S. W. Chan, b Evans
K. Con, 1.b.w., b Baker
T. 0. Yow, b Baker
it
Youngsuse not out
M. A. Yue, b Collins
Extrax
Bryant Evaus Senwn baker
Carey Ca.ins
Total.
Bowling Analysis.
མཱཀཱཡཱ ཝ
13760 10 HONGKONG FOOTBALL LEAGUE. RE-ARRANGEMENT OF SLCOND DIVISION MATCHES;
is
ميدان
football matches at Happy Valley o
Uwing to the races there will be no
League, have been re-arranged to take Saturday next. The readining fixtures Secund Divis.cn, Hongkong place as follows:- February 21st,—
RN. R. Kowloon FC., Chab
ground
. Staff and Depts. v. United. F C., “Navy
ground. Indian R.C., South China "B," Mili-
tary ground. February 28th :--
H.E..C(R.). Staff and Deple, Club
ground.
Club de Recreio v. United F.C., «Navy St. Joseph'a,
ground
South China B 2.
Military ground
March 8th.
St. Joseph'a (R.) v. H.K.F.C. R.); Club
ground.
--- SECOND DIVISION TABLE,
The Second Division Table stands "at Present as follows:-
Goals.
D. F.
A. PTH.
Navy (R.). Kowloon F.C....B Staff & Depta: 7°
B
'0' 0
35
0' 16
В
ปี
01.
2 18
5
0 283 10
5
0 19 8 10
H.K.F.C." (R.). 7 Club de Recreio 8 United F.C. St. Joseph's (R.)7 B.C.A. B ... 7 Indian R.C... 8 N.CA. TA
TENNIS.
LADIES' RECREATION CLUB. An American Tournament
(mixed doubles) will be beld at the Ladica Ra creation Club at £15 p.m. on Saturday, March 6th, 1920. The entrance fee far for each for the sumament which was is two dollars. Entries not played on the 31st of January on account of
the rain hold good for this tournament. Fresh entrica must reach the Becretary (Mrs. Digby) or the No. 1
Boy at the Club House before Saturday, February 28th. A member of the Club may enter with a non-member as partner if desired No couple will be allowed to Complete unless their entrance fee has been paid,
LOCAL FIRM'S DEPOSIT.
· ALLEGED DISAPPEARANCE OF EMPLOYE.
It is feared that the frm of Mesara. Brunner, Mond & Co. has suffered loss- to the extent of $6,500 by the alleged disappearance of a Chinese employé of the tri. The latter was given $6,500 to deposit in the Hongkong and Shanghai
Bank on Saturday, but, for some reason. or other, failed to do so,
A report was made to the Police, who are investigating the matter.
ARMED ROBBERY IN
VILLAGE
WIDOW VICTIMIZED:
An armed robbery is reported to bave. taken place in Tak Tam Au villege.
men knocked at the door of a widow, At about 5.30 p.m. on February 8th," residing in the village and asked to ba allowed in. The woman opened the ro whereupon three men, one of whom was arned with a revolver rind, the others arried torches, seized the woman, and took away goods to the value of 800. throw her to the ground.
The robbers
Branch of the Ministering Children League are returned to cars. Wm. Grateful thanks from the Hongkong Powell, Ltd, for a gift of 72 dolls for the annual batsar