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69
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“ CRESCENT FERTILISERS
FOR.
VEGETABLES, FLOWERS, LAWNS, etc. Specially prepared to meet Local Soil Requirements
ALSO
“CRESCENT" NEUTRAL SULPHATE OF AMMONIA (Analysing 25.75 per cent. ammonia)
AND
"" CRESCENT" BONE FLOUR (Analysing 60 per cent. phosphate.)
ON SALE AT
Messrs. GRACA & Co.. THE SUN Co, Ltd..
THE WING ON Co., Ltd.
THE HONGKONG DAILY PRESS, THURSDAY, JULY
[128]
THE SMOKE NUISANCE
AT HOME.
The House of Commons passes the Smoke Abatement Bill to restrict the emission of Smoke from Chimneys.
THE SMOKE NUISANCE IN HONGKONG
can be restricted without a Bill and
voluntary co-operation only.
INSTALL AND USE GAS.
Reduce your bills for fuel, and Help keep the atmosphere clean.
Gas-using appliances for all purposes, demonstrations and fall particulars at the
HONGKONG &
CHINA
GAS
Tel C-4704 Tel. GM.
Ca.
Showrooms:-18, Des Voeux Road Central,
West Point
[L.P.3]
SAVINGS SOCIETY,
LIMITED.
HEAVY LIABILITIES.
COMPANY TO BE WOUND-UP.
An extraordinary general meeting of the Hongkong Development Building and Savings Society, Limited, was held gas- terday at the City Fall schen it was resolved that the Company should be wound-up voluntarily. Mr. C. E. Beavis presided.
YARN - MARKET.
MUCH ACTIVITY, GOOD INQUIRIES..
NOTES ON THE TRADE.
Mesara. Polishwalla & Kotewall,"cotton" and yarn brokers, in their report on the Indian yarn market, states →→
HONGKONG, July 20th.""
Since our last' report of" "June 21st, market, due to good inquiries from con- much activity has continued in our farn
H.suming centres, which has resulted in substantially large sales both in "apot " and to arrive
at an advance of 89 to $5 per bale. Further demand from Yun- nan has kept our market firm with an improving tendency,
After Mr. E. B. Raymond (the Secre- tary) read the notice convening the meeting,
Total Sales 4,300 bales. Fasold. Stock 3,000 bales. Bargains in Chinese hands, both spot' and to arrive 8,500 bales.
AN “INEVITABLE" DECISION. -
Bombay:The rates in Bombay hare Mr. BEAVIS then, anid the object of the also strengthened on account of Bombay meeting was known to the shareholders.mills being reported to have done fairly It had been called to consider the ques- large forward business up to September tion of winding-up tha Company. The and latest quotations show higher prices directors had given the matter much than those ruling in our market. thought and it was with regret that they' had come to the conclusion that it was advisable in the interests of shareholders that the company should be wound up.
Their Directorate had lost through death Mr. Montague Ele and Mr. Chau Siu Ki and they had lost through resignations Father Robert, the Hon. Dr. H. Kotewall and recently another Chinese director. They had also lost the services of Dr. Allan.
No. 10.
Assur Veerjee $187/161; Berls 8150; Bradbury 8169; Connaught 8151; David $157; Dawa 8135; Major Sassoon 8151; Phoenix (Cow Tickets) B. 8164/166; Phoenix (Vase Ticket) M-$137-Presi dency 8146; Sun Mill 8151.
No. 19.
They would see therefore that the Company had been loft with very low. directors, and only one English director, China 8163; Connaught $163; Dawn himself, to bear the burden of the deci- 8175; Fasalbhoy $173; Finlay 8169/170; sion which had been come to. He himself Moon 8170; Pubaney, various chopa had given the matter much deep thought 81 8/170, and he had concluded that the decision was simply inevitable.
FORMATION OF THE COMPANY. As they were well aware the Company was formed for the purpose of building houses, Prospects when the Company was formed were most favourable and the Their managing Colony was thriving. director, Mr. Ellis, made plans in con- rection with the development of Jardine's lookout and the scheme seemed most favourable.
There were also subsidiary objects of which one was the establishment of a' Savinge Bank which, as time went on, did not appear likely to succeed.
It also happened that at the time the main scheme was moated the Government was considering a scheme of develop- ment, namely, the 40 years' lease scheio.
THE WORK STOPPED.
Shanghai:-Reports show a marked improvement in prices all round with better demand and a Healthier tone for
near future.
Japanese Yarn :—A sudden big rise has scared buyers to make futher purchases, while they are getting rid of their pre vious cheap holdings at the present ad- vanced rates
The following are" the ruling quota- tions fer Spot Yara:
Nagasaki No. 90, 8209/910; Nagasaki, No. 10, 8167; 3. Horses No. 18, 8198 Horses No. 20, 8201; Yellow Joan No. 20, 204; Seteu No. 10, 8170; Setsu No 30, 9214; Blue Fish No. 12, $175; Blue Fish No. 20, 8214.
Raw Cotton:-No Stock. Quotations.— Bengal $35 to 840 per picul; Chinese 840 to 843 per picul.."
SAIGON RICE MARKET.
It was inevitable in work of that kind that considerable time passed in discuss ing various plans for development and at least the files showed that the direc tors worked hard on the scheme to get it on to a working basis. They had rea- son to think that the first architect em- employed was not altogether satisfactoryOwing to the lack of business, prices of and new architects had to be employed, Messrs. 3bank.
The Compagnie de-Commerce et da Navigation d'Extreme-Orient, Saiger, in their report dated July 13th, state-
future.
"However, some sales have been booked with Japan and Java although our prices were much higher than those ruling on these markets.
The total amount of rice.exported from January let to June 30th, 1926, is 809,711,084 tons against 003,952,893--in 1925.
every grade of rice have slightly declined on our market, but the tone of paddy After a lapse of time plans were market being very firm, no downward ally settled. This did not take place until tendency can be expected in the near work could be commenced. The financial crisis of which they all knew then came to the Colony and put a stop to the work. There was in addition to this scheme a smaller scheme for building 16 houses on two other lots. He understood the plans of those two schemes had been completed and work was ready to be.com menced. But that building scheme was certainly not big enough to occupy the enorgies and capital of the Company With the atopping of the main scheme, it was obvious to him that their main objects had gone. When the time came for development of a scheme of that character, had they proceeded with it they would have been spending money ía a highly unprofitable manner. In their case time was money, and if they were going on with the development of property in the future, the far future, he thought they would be spending money naprofitably and he knew shareholders would not agree to that.
on with
Also for the purposes of going that work they would need the whole time and energy of some person who would take the place vacated by Mr. Elis, xhose return to the Colony, on account of his illness, was quite uncertain.
FINANCIAL POSITION.
The present financial position, which he had obtained from the auditors, he would. give the meeting They were aware of the position as disclosed in the last balance sheet but it seemed that further habilities had been incurred, such as bank interest, architects' bills, and a large claim for rent for offices to the Taxicab Company, Ltd. On the face of things there was a liability to be met of from $100,000 to $115,000
Having gone into the position he thought it quite possible that the archi tects bills might be reduced and if so he hoped the liabilities might be reduced by a substantial sum. Of course, this liability was one they had to face on the Basumption that they would not recover from debtors to the, Company. They could only hope to get what had been deposited sa securities and, as share. holders knew, there had been a good deal. of depreciation insecurities. They could not hope to recover from these anything beyond the value of the securi ties which they held
We quote to-day," white Saigon rice No. 1 95% brokens round grain: Hong kong $7, per picul of 134 lbs. f.ob. Saigon; £0.14.2, per evt. fo.b. Saigon; yen 8.82, per picul of 134 lbs. fab. Saigon.
White Saigon rice No. 2 sifted Japan quality: Hongkong 88.64, per picul of feb. Saigon; yen 8.40 per picul of 134 134 lbs. fo.b. Saigon; £0.13.8 per cat.
Ibs. fo.b. Saigon.
Paris
EXCHANGE RATES.
[BBITISH WIRELESS BERVICE.]
Brussels Amsterdam Berlin
ALL
COMEDY
AT THE QUEEN'S
TO-DAY TIL SATURDAY
MATT MOORE
&
DOROTHY DEVORE
IN
IN
HOW BAXTER BUTTED
LARRY REMON
THE DOME DOCTOR
VALENCIA
By QUEEN'S ORCHESTRA
TO-DAY AL 5.15 & "9.15
LAURETTE TAYLOR
ONE NIGHT IN ROME
WORLD
THE STAR
NORMA
SHEARER
OF
THE
LADY NIGHT
CITY HALL THEATRE ROYAL
TUESDAY, 27th JULY, 1926, at 9.18 p.m. Prompt
THE EMINENT: PSYCHOLOGIST
(KABA-IKI) -
PROF. MAXIMILIAN.
LANGSNER, M.L.L.C.
Will Give the Most Convincing Demonstrations of OCCULT SCIENCE:
TELEPATHY
HYPNOTISM. MAGNETISM
AUTO-SUGGES 110N HYPNOTISM or ANIMALS.
PRICES-81, 82, 81.
18793
“GREATER than RUST"
STAMMERERS CURED FREE. BOOK EARLY AT MOUTBIE'S.
Roorg, July 20th.
233
2204
12,094
20.43
Copenhager Vienna Helsingfors Lisbon Buenos Aires Shanghai Yokohama New York
.18.35
34.403
103)
2.17/32
43.11/18
2/101
1/11.8/32
4.801
Geneva Milan Stockholm
25.11
151
18.15
*92.20
1841.
30.94
7.11/18 1/6.15/16 2/3
201-
Calo
Prague. Madrid:
Rio
Bombay Hongkong
"Silver (spot & forward
BRITISH CARS WIN NEW-
MARKETS.
FIGURES.
They must meet this liability and could STEADY INCREASE IN THE EXPORT not wait until this money had bean re covered from the debtors. They must. recall shares::
"
The most striking thing in the latest He then proposed the following resoltrade returns submitted to the Govern tion:-That it is desirable to wind-upment is the fact that the British motor- this Company, and accordingly that this car manufacturers are capturing many Company be wound-up, voluntarily, and foreign markets and are securing con- that Mesers John Hennessey Seth and siderable business with the Dominions Sydney Hampden Ross, incorporated Light cars are being specially favoured accountants, bo and they are hereby ap-by overseas customers, pointed the liquidators for the purpose A the present rate Great Britain will of such winding-up
have exported more than £3,000,000 Mr. W. JACKSON, in seconding, said, he worth of motor cars by the end of this
considered the directors were doing a trade year, frater by quarter, have
The resolution was carried, with only, a shown an increase in the number and the few dissentients for sterling value of cars exported.
The resolution will be submitted for. The protective duty has assisted the confirmation, as a special resolution, at industry, which unfortunately was now an extraordinary general meeting, to be held up in some instances by the coal held at the City Hall on July 28th-5 stoppage.
Wilkinson's
ANTICORROSIVE
Ready Mixed Paints
for Every Description, of Iron and Steel Work
Large Stocks kept
of Two Shades each
RED AND GREY
Specify
Wilkinson, Heywood & Clark's PAINTS
Agents
C. LAY & Co.,
Alexandra Building Telephone Central 768.