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"DECOLITE"
FIRE-RESISTING FLOORING
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JOINTLESS, HYGIENIO & NON-SLIPPING
Laid by Our Own Workmen on
STEEL, WOOD ob concrete.
THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.
1, Queen's Bulidings,
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PURE MANILA“ ROPE.
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KING'S BUILDING.
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OF
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VALUABLE LEASEHOLD
PROPERTIES
NAMELY :—
LOT NO. 1.
|
A.P.B.
HONGKONG STOCK EXCHANGE.
b
CLOSING QUOTATIONE..
MAY 29TH, 1988, Hongkong Bank................ $1,100 buy.
Do.. London 199 nom Chartered Bank................................... £20) zom. ALL THAT Piece or Parcel of Ground situate Mercantile Bank, d. o B..............£30g nom.
Do at MONGKORTSUI in the Colony of Do
0......£19 nom. HONGKONG and Registered at the Lasn P. & O..
Bank.....
29 nom. OFFICE & SUBSECTION 1 SEO- East Asia Bank,
283 nom. TION Cor KOWLOON INLAND LOT Canton Insurance 3600 bay No. 121. Together with the Building China Underwriters thereon now known as No. 677, SHANG North Chma Insurance .....Th. HAI STREET.
Union Insurance ......$258 1. div. buy, 269 na. LOT NO. 2,
Yangtaze Insurance...........Silt bay. ALL THAT Piece Dr Parcel of Ground Uhins Fire Insurance........$175 x. dir,
taste at MONG KOKTSUI aforesaid Hongkong Fire Insurance .. $550 bay.. and registered at the LAND OFFICE Dooglases .... KOWLOON INLAND LOT No. 1620 H.K, U. & M. Steamboats...3944 Bay, containing about 4,215 Square Feet. Hongkong Tugs............................
Indo-Uhinas (Pref.)
IN TWO LOTS
JY
Ma. E. V. M. E. DE SOUSA, Auctioneer,
AT
THE CHINA AUCTION ROOME, No. 4, DUDDELL STREET, HONGKONG,
ON
FRIDAY, THE 11TH DAY OF JUNE, 1926,.
"ATS O'CLOCK F.M.
Do (Del.), Shell Transporta Star Farnes.........
Waterboats. China Sugars Malabon Bugars Benguets... Kailan Minis
Mining Ad.. Langkats (combined
Jo. (single)
For further. Particulars and Conditions of Bhanghai Explorations.
Bale, Apply to-.
MESSES, "GEO. K. HALL BRUTTON & CO.
Mortgagee's Solicitors,
!!
(8813
St. George's Building, Chater Road Hongkong, 47th May, 1928.
MARTIN'S
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Comprehensive and Complete Heport
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Postage to any part of the world-u.
Nhanghai Losna
Rauba*********
Tronoh Mines
Ural Серіала HK & K Wharf... H.K&W. Docks Hongkawi....... New Engineerings. Shanghai Dooks.... H.K. & S. Hotels. Lands
HE. Territorials (f.p.)... Humphreys Estates .... Prince's Building.... Kural lands
Healty (c.p.)..
145
... bum..
„Dzu' now, $48 nom.
nom.
7/6 nom.
$611 buy,
$15 nom.
$35
HONGKONG AND SHANGHAI HOTELS, LTD.
ANNUAL MEETING.
RECONSTRUCTION PLANS SHOW MANY IMPROVEMENTS.
PROFIT ON KALEE HOTEL "SÄLE.
At the ordinary yearly meeting of shareholders of the Hongkong and Shanghai Hotels, Lamited, held in the Roof Garden, of the Hongkong Hotel, on Saturday morning, the Chairman dealt at some length with the plans for the reconstruction of the Hongkong Hotel following the fire on New Year's Day. These plans include the provision of larger lounge space than previously on the ground foor, & new grill-room on the first fleer with adequate space for dining and dancing, and two floors of bedrooms constructed on modern lines providing a greater degree of service and comfort than has hitherto been possible.
The settlement with the Insurance Company in connection with the Are resulted in, a cash payment of fourteen lakhs. It is the intention of the Directors to place in the reconstructed North block of the Hotel a memorial tablet to Able Senman E E. Batchelor, of H.M.S. HarĚLNA, who lost his life while assisting in fighting the fire..
1)
The sale of the Kalce Hotel, Shanghai, it was stated, showed & proft of $370,000 over, the valuation of the property as shown on the Company's books.
4
were
Mr. J. E. Taggart (Managing Director) Therefore we had perforce to resort to presided and there were also present Mr. other means in order to finance our com- J. Scott Harston, Mr. E. M. Raymond, mitments and it is due to the fácilities. Mr. J. H. Fleming and Mr. Allan Cameros granted by our Bankers that we (Directors), Mr. W. J. Hawker (Manager) coabled to pursue, without interruption and the following shareholders:-Messrs. on, account of finance, the constructional Ezra Abraham, A. A. Alves, J.
in connection with the Peninsula Hotel. V. A. Croucher, F. J. Easterbrook, B. Turning to the Balance Sheet you will Montague Ede, W. Van Eps, Fung Tak observe that the items "Land" and Hing, H. Gittins, Dr. C. M. Heanley, Dr. "Buildings" have increased by $2,850,000 F. H. Kew, Messra O. Kitchell, Lee Coon, which is in the main accounted J. E. Mackenzie, P. I. Newman, U. M. for by the acquisition by the Com- Omar, J. S. Perry, Poon Lai Fung, A. Hpany, on "favourable terms, of the. Potts, P. C. Potts, C. A. da Roza, Kelly reversionary interest in the Palace Sayce, P. M. N. da Silva, Sin Wai Man, Hotel, Shanghai (to which reference was M. W. Smith, Tang Chi Ngong. Tang made in the speech from this Chair last Hung Ka, W. Van der Steen, T. G. Weali | year). As a result, the item "Leasehold and Yang Yip Sang.
Properties has been eliminated from our Balance Sheet and in pursuance of our policy we are now the owners of freehold property in respect of all the establishments we operate.
Bagram, J. P. Bourne, J. T. Choy, N. grame upon which we had embarked
THE CHAIRMAN'S SPEECH. The CHAIRMAN said: Gentlemen.-The Report of the Auditors is as follows:-
"We have audited the above Account and Balance Sheet with the books and documenta of the Head Office and the Accounts and Balance Sheet of the Shanghai Branch rendered by Messrs. Thomson & Co., certified by them as Borrect. We have obtained all the in- formation and explanations we have required. In our opinion such Balance Sheet is properly drawh up so as to exhibit a true and correct view of the state of the Company's affairs accord ing to the best of our information and the explanations given to us and as shown by the backs of the Company.
PERCY SMITH, SETY & FLEMING, Chartered Accountants,
Auditors
Hongkong, May 1st, 1926."
LOSSES BY DEATH.
Before I proceed to report upon the affairs of your Company during the faan. cial year under review, it is with the deepest regret that I have to record the loss sustained by the Company by the death of the Hon. Mr. C. Montague Ede on the 2nd May, 1995, and by the deaths as recently as this very week of the Hon Mr. P. R. Holyoak and the Hon. Sir C, Paul Chater.
UNPRECEDENTED DIFFICULTIES.
The year which has passed since our last General Meeting has been, as you are probably too well aware, one presenting unprecedented difficulties to practically every business concern of this Colony and it would be superfluous, therefore, for me to labour this point. The unsettled situation created by the disturbances of the month of May resulted in a serious set-back in our turnever in the Northern port but Shanghai recovered quickly, as reflected by our revenue figures which, I am pleased to say, show an appreciable ingresar in most departments; and, whilst on this point, it appears to me opportune to emphasize that the action of your Company in acquiring the Hotels in Shanghai has proved a source of very considerable strength to the Company and is more than justified by the results, for since the amalgamation effected with The Shanghai Hotels, Ltd. at the end of 1923, the Company has been placed in a position whereunder it is hot nearly so vulnerable as would be the case if its in- terests were concentrated in one place.
UEEN'S
QUE
SUPER
CINEMA
TO-DAY Till WEDNESDAY
At 2.30, 5 sharp, 7.15 and 9.30
EMIL JANNINGS
แ
IN
QUO VADIS
"1
THE STORY OF THE DAYS WHEN NERO HELD SWAY,
3
A COLOSSAL PRESENTATION.
PERFECT ACTING.
PERFECT TECHNIQUE.
WORLD
THE STAR
TO-DAY AT 5.30 "THE ROSARY:"
•
AT 9.15
THE BABY PAVLOVA"
THE
-TO-DAY AT 5.15 & 9,15
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It is a matter of extreme regret to your Board that on this occasion they are unable to recommend the declaration of a dividend. However, in view of the usaettied conditions of there times, it is in the circumstances deemed prudent not to pay a dividend for 1995 but rather to strengthen the resources of the Com- Pany by retaining the profits in the busi
I now beg formally to propose that the report and accounts for the past year as presented be adopted and passed, that 8200,000 be placed to the credit of
than has hitherto been possible. The total cost of such reconstruction includ ing furnishing, etc., is conservatively estimated at 2500,000. The work of re In Hongkong as the employer of a
Constraction will be in the hands of large staff, the Company was naturally Messrs. Palmer & Turner and I am con- fident you will be fully satisfied with the The Hon. Sir Paul Chater was a very seriously affected by the strike which
result, more especially having in mind old resident and a veritable bulwark to occurred towards the end of the second the Colony. He had seen it progress from quarter of last year; nevertheless, I am
that due to the utilisation of the existing
11483. foundations and main outer walls, re- its infant days to the position it now pleased to state that we were enabled to construction can be expedited and con- occupies as one of the largest orta of carry on the essential services of our siderable economy in building effected. the world, and he had himself ver, largely establishments; and in fact the Hong On completion we shall be in a better contributed to its success in that con- kong Hotel, due to its central position, position to meet the growing needs of buy,nection, for he had at all times fostered was called upon to supply more meals
our clientele; furthermore, we shall be the development of private enterprise and per day than would have been the case able to render to the residents of our it is in no small degree owing to his fore in normal times--although I must add. Peninsula Hotel at Kowloon facilities in sight and skill that the Colony's progress en punt, that little or no profit accru- the matter of dining in town, which is due. Ar Sir Henry Pollock truly saided to the Company in this respect, our at the meeting of the Legislative Council primary object, as a semi-public utility establishment.
would have been impossible in the old on Thursday last, He was a Master undertaking having been to meet the Builder." His "loss to this Company is needs of the community at rates as Hotel has been reconditioned, and is now The South Block of the Hongkong you all know, reasonable as possible in the exceptional complete and self-contained, although a very severe one, for he was a man of consummate judgment circumstances then obtaining. Towards naturally offering limited residential ac in everything appertaining to finance the end of the year the new native staffs commodation and in recording his death I would con- which had been secured had to some ex- capacity of the former building. Revi- as compared with the vey to Lady Chater and his relations our
tent been trained in the requirements ions in the Company's accounts conse sincerest sympathy in their and loss.
of our various departments, and, gener- quent upon the Fire are not embodied ally speaking, the business of our hotels in the figures before "yout, bearing in in Hongkong was running smoothly. mind that the conflagration having o
Our new Garage at Happy Valley, surred on the 1st January financial ad- Hongkong, was completed and put into justments pertaining thereto will be service in June, 1925, and has proved a effected in the accounts for the current profitable adjunct to the Company's busi-year.
- bay, 231 sol.
Dom
..31 bay
41/- 1. div. buy, .Tla, 244 sol. Tix. 1 bay.
T
nom.
.35 nom.
8. nom. 1es sal 355 nom. TL. 179 bay. Tis. 5.90 nom. .Th. 105 buy. 101
buy., 10.40 sel, 302 buy, de sa. ...154 buy.. $5 nom. $14) nom. $95 nom. Ar norm. Ewo Cottons pourus.
Ms. 94
buz. Orientals ..........
Tis. 8 nom. Bhanghai Cottons (old).....
Tis. 53 buy. Do. (new). Tla. 28 buy. Amusements
All nom Cantun ices.***.*** Cements (combined)
10.
fold)
(now)
China Basof cïso China Lights (combined)
(Did) [new]
Do
Do. Obina Providents ............ Constructions
Dairy Farma,
Ye nom.
418 nom. 43 som.
15. 11.30 bay. $18 nom. $14 buy. 196 but 10 sa
419
48 sal.
· buy, "
Der & Wing (f.p.)...... Bongkong
Long Alloctrice d Macao Electrica
$40 nom H.K. Developments...... 125 #78. not. HK. Haper (cumbined)......30 ..
Do.
10 sel. 110.
135 val. Hongkong Tramways ..............123) buy.
Crawford........ Sanri
$101 nom Mackintosha...... .#19+ nom. Peak Trame (old)
$109 1. div. buy.
7.20 F. dr, buy. 11 nosi 439 rel. 320 поль .:$12.65 buy,
$10 nom.
5 sol
g." Do.
Sincere
Unned Asbestos Watsons (old)" Wm. Powelis Singapors Traction
baybayers;
Hom/
J
The Hon. Mr. Montague Ede was another gentleman endowed with "vision." le too was a very old Far Eastern resi-- dent and his business capacity, was of the greatest service to this Company. His courage during his long illness was such
na to command the admiration of all. He, like his colleague Sir Paul Chater, was a tower of strength to this Company and on behalf of its Directorate, Share holders and Staff, I would record our deepest appreciation of his services.
лезв
General Reserve and that the 8234,192,79 then remaining to the credit of Profit and Loss Account at the 31st December, 1925, he carried forward. When that proposal has been seconded I shall be pleased to answer to the best of my ability any questions arising therefrom
Bay Hotel was completed and opened in The new wing to our Repulse
KALEE HOTEL SALE. December last, and proved a very dis to which I should refer, but which also There is one other important matter tinct boon in view of the disastrous fire does not affect the Company's accounts which occurred in the Hongkong Hotel until the current year, and that is the to on the first day of 1926.
SECONDER'S SPEECH.
Mr. C. A. DA ROZA said: Permit me Mr. Chairman and gentlemen before con- this meeting to join you on behalf of the tinuing with the ordinary business of general body of shareholders in your expression of sympathy and condolence to the, relatives of the three members of your Board who have died since the date of our last annual meeting, I feel cer- train that the shareholders of this Com- pany deplore with the rest of the Colony the death of Mr. Montague Ede, and more recently the deaths of Mr. Holyoak and Sir Paul Chater.
If you will allow me also to intrude on a personal bereavement I would like tender to you. the shareholders' The Hon. Mr. P. H. Holyoak was of a
retent sale of the Kalee Hotel, Shanghai.gympathy in your own great personal. inter generation as a Far Eastern resi-
The price realised was Tis 228,300 nett loss by the passing away of Mrs. Tag dent than Sir Paul Chater and the Hon.
to the Company, thus showing a profit gart, the shareholders know the keen in- It is with the most profound regret of approximately $270,000 over and above terest always taken by the late Mrs. Mr. Montague Ede. Mr. Holyoak bad I have to record in connection with the the book valuation without depleting the Taggart in the working of the Hongkong nevertheless resided in Hongkong for Hongkong Hotel Fire that Able Seaman Land and Building Reserve. Delivery Hotel, and they feel that by her death twenty-seven years and in the last twelve R. L. Batchelor of H.M.S. Hawkins of the Kalee Hotel is to be made on the this Company has lost a highly qualified years of that period had rendered very lost his life whilst assisting to subdue 1st December next, thus affording ample adviser who was not above taking a per- considerable public service to the Colony, the outbreak. It is the intention of your time for arrangements to be made for sonal hand in the solution of the many Though only a Director of this Company during the past three years he had at all Board to erect in a suitable position in the accommodation, disewhere of the pre problems which the exigencies of the times evinced the greatest interest in its the reconstructed North Block of the sent residents in that establishment. trying times has demanded. affairs and had rendered it signal service Hongkong Hotel a memorial tablet re- Before concluding my remarka I de on several occasions To Mrs. Holyoak cording this sad event. To the officers sire to place on record our appreciation and her daughters therefore, I tender our and men of the Navy and Army, to the to Mr. J. Scott Harston for his practical beartfelt condolences in their sad bereave. Fire Brigade and to all the many per help and advice at all times but more Rons who so readily rendered service on particularly during the first quarter of THE ACCOUNTS.
that occasion the Company is deeply this year. To your Manager, Mr. Ha
ker, great credit is due for "the able.
meat.
grateful.
THE HOTEL FIRE.
·
FIGURES REFERRED TO." Mr. Chairman, in seconding the adop tion of the report and accounts. I would like to refer to a few figures although the The Directors of the Company are to accounts have already been ably reviewed. be congratulated on what I consider an excellent report of the result of perhaps working, I confess to having expected a report showing lakhs in foss, and this was a natural expectation in view of the visible. disorganisation around us in al- most everything in the nature of business decrease of $450,859.73. The main ten three and a half lakhs represented pay remained loyal during the period of ditions in Shanghai where our interests of over, fourteen lakhs, of which some particularly to those of the latter who in the middle months of last year; con- of increased expenditure in the Profitment in respect of rentals during re-fabour disaffection I cannot pay adequate are great were not much better, and the and Loss Account are as follows ---
Turning to the accounts for the year
Whilst on the subject of the Hongkong manner in which he has conducted the 1925 you will observe that the balance Hotel Fire, I should inform you that business of the Company covering one of Working Account Amounted
to the Company's cover in the matter of of the most difficult periods of its his-the most difficult year of the Company's 81,139,176.19 being ณ 'decrease of 2242,761.18 compared with the preceding and also as to rentals) was such as to rences precluded me from taking an Insurance (as to building and contents tory when a serica of unfortunate occur year. The balance of Profit and Loss amply safeguard your interests. Account (notwithstanding the fact that settlement effected with the Insurance of your undertaking. To the members of The active part in the conduct of the affairs the amount brought forward was $24,000 Company resulted in a caab payment our European and Chinese staffs and greater in 1995 than in 1924) shows
Mortgage and Bank Interest $144,000 Maintenance and Repairs.... Depreciation
48,000 40,000 Rents, Rates and Taxes ..... 30,000
construction. The damaged portions of tribute. I have no hesitation in saving spending power had been much reduced. the Hongkong Hotel are now in process that without the conscientious applica-It was not therefore the gloomy picture of démolition to an extent necessary in tion of our personnel in Hongkong and of facts which led many to the expecta of pessimist, but the stern realisation order to permit reconstruction in auch Shanghai our accounts for the year 1925. manner as to make provision for The increase in Bank interest is nature ground floor containing a larger lounge before you, which your Board cannot but ing On top of this came the fire at could not possibly have shown the results tion of a severe loss in this year's work- ally accounted for by the fact that due space than heretofore, a first floor with regard as satisfactory in the light of the the Hongkong Hotel which, I might say, to the financial stringency in the third mezzanine comprising a modern Grill vicissitudes through which we have pas cut the ground under our feet by reduc quarter of 1925 our capital issue, in com- Room together with adequate space fored, and you may rest assured that every ing the probability of good profits on mon with that of other concerns, did not dining and dancing, and two floors of channel has been explored with a view
an early return to normal conditions in meet with the support that under normaal bedrooms on modern lines rendering to effecting economies without impairing
Hongkong conditions would have been forthcoming. greater degree of service and comfort the earning powers of the business.
(Continued on page 4)