Page
BANVARD MUSICAL COMEDY CO.
TO-NIGHT ·
TO-NIGHT
9.15 p.m.
THEATRE ROYAL
The Sensational Daly's "Theatre London Musical Comedy Success
THE HONG KONG DAILY PRESS, - TUESDAY, FEBRUARY 7th, 1928.
#
THE "CHINA PROVI
DENT."
Debts, Doubthi Loans, etc. Our Sundry Creditors Account also shows a reduction of soupe 'under 800,000, and the last item
$21,000 PROFIT LAST YEAR. | this head has since been reduced to
approximately $9,000,
FROSPECTS GOOD IF CANTON CONDITIONS IMPROVE,
COMPANY NOW ON ITS
-OWN,!!.
CHINESE REDS IN MOSCOW.
A DISILLUSIONED GROUP.
U
MRS. SUN AND THE LATE -MAS-PROEVE
FEEING, Jan. 14th. Several local residents who have
In order to meet the conditions prevailing on December 31st, 1997. -your-Directorhová transferred the sum of $141,701.94 from General Reserve to certain Spccife Reserves for bad and doubtful loana in. order to meet the depreciator in values of securities held by this Company as at December 31st, 1997, gone to" Europe or returned to Presiding over-the-general-ord-Since the date of the balance sheet. China hy the Siberian route and nary meeting of the China Provi however, there has been an import have had occasion to stay for a ant rise in values of shares, and. dent Loan & Mortgage Co., Ltd., in the event of the new level being short time in Moscow, bear witness yesterday morning, Mr. C. A. de maintained, it is likely, that a por in their letters or verbal reports,” Roza said that the year's profit had tion of the reserves, now allocated to the fact that many of the best fluous, and will thus become avail-
only been $21,247. With fair tred to Loans " will be found super-known Chinese exiles who have
ng prospects this should be greatly able improved. He emphasised the need of a stable Government at Canton if cargoes are to be attracted to 9 this Colony.
"KATJA, THE DANCER'
Booking at Moutrie's
UNITED ARTISTS PICTURE
COMING TO THE
QUEEN'S
TWO ARABIAN KNIGHTS
WM.BOYD
MARY ASTOR
1001 WOLNIM
SUNDAY TO TUESDAY February 12th to 14th.
Conklin
Pens Pencils Sets
NEVER FAIL TO GIVE Satisfactory Writing Service.
Sole Agents: THE WING ON CO., LTD.
الله علي
THERE is no worry or anxiety in rearing Baby healthfully and happily, even in a tropical climate, when Glaxo is used as Baby's food."
Glazo is the food that has been used to rear the children "Uve Royal-Numeries: Court-Physicians-acc-chat- Royal Babies have the best and most nourishing food- that is why Glaxo has been chosen
Give your Baby Glaxo, and watch the difference after a few days; see how restfully healceps, how contented he is and how steadily he increases in weight. Ask your Doctor 1
Glaxo
The Vitamin Milk-Food
"Builds Bonnie Babies'
W. B. LOXLEY & CO., Bozz AVENTS.
for
retransfer
to
General taken refuge thera were disillusion-
Reserve. Merely as a matter of ined and unhappy long before the terest, I think shareholders would like to know that the whole of the
recent breach of relations with the amount, reserves, in the accounts. • Nationalista.".. for 1927 would appear to be un- necessary. In addition there is a possibility of the reserves previous- y set aside not being required to the extent provided
ti
Scant Honour' For The Leadars. The leaders of the Red element
The dubt to the Standard Oil Company for the purchase of godowns had been Equined thanks
Ta regard to fixed assets, gentle to belp from their Beakers. Mr.
men, your Board considers that no Tong Hok Ting, ono of the further depreciation is necessary Company's debtors, had disappear on Property Account, as in their ed into the interior and the money opinion, the values placed on your owing by him had to be considered Properties in 1926 by expert valuers į paying them acant, honnur, Their
a bad debt. On the other hand the advance to the Hong Kong and Territorial Estates, Ltd, had been repaid
CHAIRMAN'S SPEECH.
were extremely conservative.
"note
in the Kuomintang, Mrs. Sun Yat |Sen, General Teng Yen Ta; Mr. Eugene Chen and his daughters, and many others were all to he found in one hotel in Moscow In bar and blenk quarters, where the Soviet Government seemed to be
conversations
disconsolate were The addition of $10,973 to our and, according to several reliable. Investment Account represents in reports, Mrs. Sun Yat Sen seemed part a transfer from a Loan A the most disappointed and depress- count of certain shares in the ed member of the little colony. The Chinese Underwriters. Ltd. and only man in fact who appeared to also a call paid on our bolding in sustain any interest in Communism the same Company. Our Loan Ac was General Teng Yen Ta who wILS counts have been divided into four | always difficult of access but cheer- svetions, as before, and you willful when found. He, being the that Loans on Sundry Arst full-fledged member of the Securities and Loans without Communist Party in China, ap- Security have been reserved for phared also to be the only man in in full. The latter covers the in the group who was still in close portant sum of over 8571,000, the touch with the Red authorities. bulk of which is due by Mr. Tony
Hok Ting, which, we are afraid, is now definitely established as a bad count. On the offer made on be- half of Mr. Tong lailing, the Board. endeavoured to execute on a judg⋅ ment obtained against Mr. To but the necessary legal prelimin aries entailed gave M. Tong an opportunity to proceed outside the jurisdiction of the Courts in Hong Kong, and we have not been able to trace his whereabouts.
Company Working On Its Own. The Chairman said: Following your adoption of new Articles of Association in January last year, and on the offer on behalf of Mr. Tong Hoa Ting falling to the ground, your Directors terminated the temporary appointment "given to Messrs. Shewan, Tomes & Co, as General Agents by a notice which expired on the 20th of July last year, since which date the Cam pany has been working on its own. During the year under review,
Subsequent to the termination our godowds have continued to of the temporary agreement for the receive a fair. share of the storage Company's General Agency, your Board gave the most careful con- offering, and their net carning, sideration to the liquidation of the together with the profits on lighter loan accounts of the Company's late age, show an increase not very far Gegeral Managers und, with all the most detailed information avail short of 100 per cent. in compari-ahle, an agreement has been reach son with the figures for 1926.
ed which provides for a substantii The Loans section carned cash reduction of their debt to us $148,663.40, but, owing to the doubt during the next two years. The which exists, ne to the possibility satisfaction of this agreement of recovering a large portion of this naturally depends upon continued figure-8102,4-48.71-we have con- improvement in trading conditions tinued our policy of transferring prevailing in Hong Kong and the doubtful portion, to particular South China, which we hope will be reserves and taking into profits maintained to enable us to collect only that portion considered good, namely, $16,218.75.
Reduction On Debit Side. You will note that on the debit
the sums provided by the agree
ment.
Prospects.
One traveller who knew Mrs. Prohme well in this country and whose testimony can be fully relied upoa, had an opportunity to inter- view her some weeks before her. death, and found that she had had
very sad awakening to the reali ties of the Bolshevist Utopin. It
will be remembered that Mrs. Prohme served the Borodin group as editor and publicity agent in Peking, Canton, and Hankow and, when the Russians were "expelled' from the W-Han district, took re fuge in Shanghai and eventually accompanied Mrs. Sun Yat Sen to Russia.
Disillusioned And Disgusted. When her interviewer attempted to open a mild debate with her. Jars. Probme, who was a lately un intensely incore Red, maid that there was no occasion for argument since there was nothing that he might say of the Chinese or Russian Communists with which she could any longer disagree. She then ad- mitted that she was disillusioned and disgusted and expressed the fervent hope that she could, in some fashion, break away from the whole Red movement and leave Russia) She hesitated, however, to leave Mrs. Sun Yat Sen in a state of despondency and niso gave the im- pression that she was bound to
thia Soviet service by some kind of a
From these" ties American woman's fiery contract. young
As to the prospects for this year, side of our Proft And Loss account gentlemen, our fortunes in the "Intereat on Mortgages" and on business of warehousemen, to which Bank overdraft shows a-reduction this Company's activities are being compared with 1020 being some gradually confined depend entirely on trading conditions in South 840,000 less than for that year, and China, and the lattter in turn, un- spirit has been released in a way A reduced suni ia commission to General Managers, which account fortunately for us, on a political that even the Cheka could not con- will no longer be a charge upon our
barometer. In short, gentlemen, trol.Mr. HODNEY GILBERT in the we need a peaceful administration N.-C. Daily News. working. Interest continues to be aheavy loan on our profits, and in Canton to attract cargoes to this must so remain until the Directors Colony, and this has been amply have an opportunity of liquidating proved by events in 1927 when, la the are sums tied up in loans. the relative peaceful conditions ob- This has not been lost sight of by taining in the firap nine months of the Board, but until very recently 1927, we did a good business, follow. local conditions did not permited by a depressed period in syn pathy with Cantos conditions. We realisation to any extent.
shall not have the revenue from the renting of some of our godowns to
view,
Profit Of 821,247.
+
́ CINEMA NOTES.
THE IRRESISTIBLE LOYER "
AT THE WORLD.
When "The Irresistible Lover " was put on at the Queen's for one The proat for the year, gentie the military, but we do not anti-day only last Sunday week, it gave men, is only $21.247.34 and, given cipate any great difficulty in filling
so much pleasure that the picture Lair trading conditions, this should most of the space vacated. Our will be shown to-day and to-morrow ho capable of much improvement, property has been well maintained at all performances in the World. if only by reduction in expenditure out of revenue, and except for cer-Theatre. The Irresistible Lover" put i force during the year, the thin labour saving appliances, such full benefit of which has not been as lifts, which we consider desirable received in the period under re to instal, are in a condition en
abling us to undertake any business Turning to the balance sheet, offering in an efficient manner. and to the Company's liabilities. I now beg to propose that the you will notice that our capital is report and accounts for the year low put down at the reduced figure 1927, as presented, be adopted, and of $5 per share, in accordance with when this has been seconded, I shall the special resolution which re be glad to answer any questions ceived your approval at extraordi- you may care to ask. mary general meetings held during the year, which resolution was duty -approved by the Court in October
Inst.
Repayment From Hong Kong And Territorial Estates, Ltd.
شه
I am pleased to report a very substantial reduction in mortgagee on our property, which now sland $1,040,000 or $770,001. less than
at the close of the year 1826.
We were fortunate in securing the repayment in full of the loan
ADOPTION OF REPORT CARRIED.
3r. J. 3. Alves, who seconded, said he was sure he was voicing the feelings of the shareholders in ex pressing appreciation to the direc- tore for the lacid balance sheet they had presented
The report WILS unanimously adopted
SHAREHOLDER'S QUESTION.
The Chairman:-A shareholder
is the story of a handsome and wealthy young bachelor who cannot get enough of women until he meets one who cares nothing for his wealth or high social standing. How he eventually overcomes her objections and the objections of her family provides a series of delight- ful actuations. The leading player.
Norman Kerry. The supporting cast includes Gertrude Astor and Lois Moran.
ELECTION OF OFFICERS. On the proposition of Mr. A. Keith, seconded by Mr. A P. Samy, the appointments of Messrs. P. M. Hodgeon, N. V. Croucher and S. M. Churn to the Board of Directors were confirmed. Mr. C. A. da Boza and Mr. A. L. Alves were re-elected to the Board, on the proposition of Mr. S. M. Chura second by Mr. N. V. Croucher.
The Chairman proposed, and Mr. J. P. Xavier seconded, the election of Messrs. Linstead and Davis and Messrs. Percy Smith, Beth and Fleming, as auditors L a remuneration of 8450 each.
This proposition was carried un- animously.
Mr. C. A. da Roza presided, other Directors present, being Mr. C. B.. Brooke. Mr. A. L. Alves, Mr. T. B. Wilson, Mr. N. V. Croucher," and
to the Hong Kong & Territorial who was unable to be prescat has Ketates, Ltd., and the sum so re- asked me a question which may be ceived, together with assistance of interest to other shareholders. from our bankers, enabled us to He has asked me to explain the liquidate our debt arising from the increase of the reserve over bad and purchase of the godowns of the doubtful loans against security of Standard Oil Company. Exel ange property.at Reserve has now disappeared from This reserve, as at December 31st, our balance sheet by the comple- 1027, shows an increase over that as. tion of the purchase of this pro-at December 31st, 1920, of 861,252.84 Of this sum,860,572.23 represents perty.
In spite of the increase in our interest which has been debited to overdraft with the Bank, brought various loan, apoounts and credited about by the above completion it to " Reserve, so its recovery is is satisfactory to note that our considered doubtful. The balanec, Mr. S. M. Churn, with Mr. D. L total liabilities under the two heads amounting to 810,600.41, represents King, Secretary. Shareholders pro- "Mortgages on Property and interest on two loan accounts writ | stat were Mr. L. E. Gutterres, Mr. "Overdraft at Bank are ap. ten back to conform with the rateA. P. Samy, Mr. A. Keith, Mr. J M Alven Mr. J. P. Xavier and proximately $430,000 less than at chargeable on judgment debts. 31st December 1998.
(Continued on ncat Oolumn.)" Mr. C. Mancini.
DOUGLAS
3
FAIRBANKS
In
AT THE
THE
0
QUEEN'S TO-DAY TO
SATURDAY
-Times & Prices--
-At 280, 5.00 & 7.15 ......$1.20, 80 cts, 60 cts. & 40 cts,
At 8.30 ..
$2.00, $1.20, 80 cts, & 50 cts, Servicemen in uniform 60 eta, to back galli and 40 cts.
to front stalls at all performances.
The
Irresistible Lover
NORMAN KERRY
2 LOIS MORAN
·A UNIVERSAL PICTURE
AT THE
WORLD TODAY & TO-MORROW
Orchestra 5.15 & 9.20.
AT THE
Interpreter 2.80 & 7.15.
RUDOLPH VALENTINO
И
*THE
EAGLE
Supported by VILMA BANKY LOUISE DRESSER
STAR
TO-DAY & TO-MORROW
'Continuous 2.80 to 11.15.
King George IV
VION.
Scotch
SCOTCH WHISKY
Tastes may differ, but this renowned brand of “SCOTCH” captivates them all, through its delightfully mellow
flavour.
SOLE AGENTS:
GANDE, PRICE &
CO. LTD., HONGKONG.