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THE HONGKONG DAILY PRESS, THURSDAY,
COMPANY MEETING.
MARCH 30TH, 1994
COMPANY DIVIDEND, '
THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.
Tel Contral 338,
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LIMITED. BUILDING AND SAVINGS
SOCIETE. LTD.
The Statutory Mecting of the above Company was held at the City Hall. yesterday. Mr. Fred. Ellis (Managing Director) presided, and other directors present were the Rev. Father L Robert, Dr. J. C. D. Allan, Messrs. H. A. Cart- wright, Chan Sau Fung. Hon. Mr. Chan Sin K, Hon. Mr. R. H. Kotewall, Leung Yan Po, Li Wing Kwong, Li Yau Tsun, E. B. and Sam Pak Ming, with Mr. Raymond (Secretary). There was a very large attendance of shareholders.
The Secretary having read the notice convening the meeting,
The CHAIRS : The Report having bees in your hands for the required period, I will, with your permission, take it as read. This is the Statutory Meeting of this Company which is held in order to comply with the provisions of the Hongkong Companies Ordinance,
1911,"
"
A telegram from the London Office of the Bask to the local Branch advisua that at the nonual general meeting of shareholders, the Board of Directors, will recommend a final dividend of 5 per cent. on the A, B, and shares (making 16 per cent. for the year, 1023 less income tax), that £50,000 he carried to Reserve Fund (making that Fund £1.950,000), and that £157,811 be carried forward.
EUROPE'S TRADE WITH ASIA.
W
Mr. F. R. Eldridge, Chief of the Far Eastern Division, writing in Commare Reports, tells us that the six principal countries of the Far East have increased the balance of their merchandise imports from Europa over their experts Europa almost seven times since 1918. The in crease is explained decreases in to Europe of 820,00,000 and in incremens from Europe of $47,000,000 in imports during this period. The amption clear that Europe is regaining its tradu in the Far East. Analysing this situation, Japan. "
China and British India before the war imported $80,000.000 more i in
Boods to Europ from Europe than they shipped whereas three other countries-the as advertised,pines, Dutch East Indies, and Straits From our Prospectus,
341,000,000 more të Settlements exported you have, do doubt, observed that this Europ than was brought from Europe. Company has been formed principally leaving a net unfavourable balance, of $18,000,000 for the Orient In 1999 there for the purpose of building houses in were four countries in the Far East- the Colony with a view to alleviating the Japan, China. Dutch East Indies, and hardship on the people caused by the British Indin--whose total purchases from
Europe execeded their sales by an aggr gate of 8335,000,000, whereas only the present dearth of housing accommoda- tion. It was with this object in view Philippines and Straits Settlements cold
to tho
extent of $14,000,000, making a net that you have financially supported the more to than they bought from Europe, with formation of the Company House rents unfavourable balance of $124,000,000 for today are fabulously high in the Colony, the year. Asia's trade balances
1929 WETO 100- but through the services of the Company Europe for 1913. 1919, and it is hoped that people will build for pectively an adverse balance of 8-19,000,000, a favourable balance of 2510.000.000, and themselves and own a home of their own.
thereby eliminating the necessity of again a balance adverse to the Orient of 8324,000,000. Europe has been able to re- paying these excessive rentals.
vivd its export trade to the Orient largely Capitul.-The number of shares allotted through pre-war investments in its colonial as given in the Report, is 445,221.. I now
possessions in the Far East and in other have great pleasure in announcing that oriental countries. These investments are. since the circulation of the Report the for the most part. of a commercial and required number decided upon by your industrial character, and also include the Board of Directors to be issued has been large ameunta of capital invested in applied and paid for, namely, 100,000 production of raw materials which the Far ship to the United States, creating shares, representing half of the author East ised capital camely, $3,000,000.
favourable credit balance in.this coun- plause.) The other half will be issued fry, which, taken together with the credit when required. Registered shareholders halance of Latin American countries, pric- will then be allowed to take up sharetically offsets the excess of American mer for share at par, irrespective of the marchandise exports to Europe.
ket value of the shares then raling.
(AP-
Our Savings Department has been started, and many of the Savings Boxes have already been distributed amongst applicants. These can be obtained at cur offices together with any information concerning them.
THE CORONET THEATRE.
"POTASH AND "PRALAITER." Predictions that Hongkong would be quick to appreciate the famous play
2
Fixtares, Arcount. etc.-This may ap Potash and Perlmutter," now that it pear high at present, but I should ex has been serecaed at last, were amply plain that this is chiefly accounted for fulfilled in the Coronet Theatre last were "capacity by the cost of the Savings Boxes.
night, when there
This With regard to the land which has houses" for all performances. been granted to you and which is the spontaneous success is easily understood. foundation of your Company, I take this Ahe Potash and Morris Perlmutter are opportunity to express our appreciation
among the most lovabla characters in! and sincere thanks to Mr. A. G. 11. Flet-modern fiction. For over nine years now eher, C.G., C.B.E., for the keen in they have kept the readers of America's terest and sympathy he has manifested most popular magazine amused and for and the support he has given in the in- terests of a public service. (Applause.) Our thanks are also due to the Hon. Mr. H. Creasy, Director of Public Works, and Mr. Parker Rees, Superintendent of Crown Lands, and Members of the Public Works Department for their courteous assistance and the great interest they have taken in our movement. (Applause.) The originalenven of 29.47 neres, as given in our prospectus, has now, heen creased to approximately five times that figure. (Applause.) This increase is due to those friends of the public, whom I bave just mentioned and who, on the 10th inst, with members of your Board, visited the area and decided upon the extension on favourable terms. With this addition we hope to be able to accommodate overy applicant with a
In the case foreign-type house. native-type houses, we regret that we' have not yet been allotted any land suit. able for this type. We are anxiously awaiting the grant of suitable land for that purpose, and we hope that ere long we will be in a position to notify u that we have been successful.
in-
of
Formation of Site, etc-At present the land is being. surveyed. which will
We
period almost as long have delighted theatre-goers in London and New York.
Among the more spectacular scenes is cabaret setting with thirty chorus girls from the Ziegfeld Follies and the Music Box Revue. Incidentally this episode includes one of the most laugh- able escapades in the whole laughable picture, if the production, acted as it has been by the players who appeared in the first stage sucress, does not invite the threadbare but apposite tag that com parisons are invidious where the quality so consistently good. Further big are anticipated again this evening when the picture will be shown for the second night of its run here.
IN
audiences
ALLIES.
All Discriminating
Smokers
and the
(63
take about two months, and at the ex- HONGKONG CIGAR STORE LTD. piration of that period, the lots will be allotted to the various applicants. have not decided what procedure to adopt in the matter of allotment, but in all probability, lots will have to be drawn for.
Mr. LEE KANG CHEE (a shareholder) suggested that the Hon. Mr. Kotowall should translate the Chairman's speech into Chinese for the benefit of the Chi uese shareholders who did not understand
English
The Chairman accepted the suggestion, and the Hon. Mr. KOTEWALL thereupon thereupon read the speech in Chineso.
Mr. S. 5. PERRY suggested that the Chairman's speech should be inserted in the Native Press. This suggestion wa also accepted by the Chairman,
There being no questions, the Chair- MAN moved the adoption of the report.
The Rev. Father ROBERT seconded this. and it was carried unanimously.
A list of shareholders was laid on the table and was open for inspection during the meeting. It included nearly 1,500
named.
The report stated, inter alia, that the receipta and payments of he Company on Capital Account to the 29th day of February, 1924, were an follows-Re- ceipts: To amount received on applica tion and allotment of 445,324 shares, $445,324,001 to amount received on Sav ings Account $1,100.00; to amount re ceived for interest, $3,724.80 ($450,148.88). Paymenta: By preliminary expenses, $3,948.29; by furniture and fixtures, 85,227.02; by loans on security" $320,000 ; by charges, $687 by caab at Hong kong and Shanghai Bank, 8112,280.45 ($450,149.80).
THE
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HEAD OFFICE and WORKS, YAUMANI, Tal K 32. HONGKONG DEPOT:16, Stanley Stroot, Tel. © 1979.
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