'Luxite' Socks
New and exclusive de signs and a large range of plain colours.
"Luxite" Socks are refined in appearance, comfortable and wear well.
Mercerised Cotton. $1.25
Silk. $275, $3.00
Less 10% Discount for Cash.
Mackintosh
MEN'S WEAR: SPECIALISTS
- ALEXANDRA BUILDING.
Cofid
DES VOEUX ROAD
FIBRE BOARD CARTONS
11
the modern and economical containers for all classes of merchandise. ACME SEEL STRAPS
a fast and efficient method of re-inforcing fibre boxes, orates bales, bandles and wood-boxes.
ACME TACK-POINT FASTENERS more easily driven and greater holding power,
J. M. DA ROCHA & CO., Agente.
FIBREBOARD PRODUCTS 00. OF SAN FRANCISCO.
* ACME STEEL CO. OF BROOKLYN, NEW YORK.
[0100
RIGAUD, 16 RUE DE LA PAIX, PARIS.
NEW STOCK OF FRENCH PERFUMES.
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JUST ARRIVED.
“UN AIR EMBAUME'
Grand Model
AGENTS IN HONG KONG:
THE HONG KONG DAILY PRESS, MONDAY, JUNE 11th,
WILLIAM" POWELL,
LIMITED.
SHARE REDUCTION FROM $7 TO $2.
EXTRAORDINARY GENERAL
MEETING.
REDUCTION OF CAPITAL,
An extraordinary general meeting was held immediately after the RE-ORGANISATION SCHEMES.meeting, Mr. M, Manuk being in' the
The plans for the future of William Powell, Ltd., were explained at a meeting of shareholders held on Saturday. Mr. M. Manuk. Chair man, stated that all departments except the Tailoring and Outfitting were to be closed down. The Com- pany's capital is to be reduced from 8204,000 to $84,000, and the value of the shares to be written down from $7 to $2.
CHAIRMAN'S SPEECH. Mr. M. Manuk, Chairman, anid:--| The not result of the year's work ing, after allowing for the deprecia tion on fixtures and fittings, writing off bad and doubtful debts, and paying Directors and Auditors fees, etc., amounted to $6,629 which you will observe has been carried for- ward to the adjustment account This result, though" by no means a satisfactory one, is better than Inst "year's working.
chair.
Mr. Manak said:—
|
1928.
COLONY'S WATER
KAIPING:
FOR ALL PURPOSES
COAL
SUPPLY.
LEVEL WITH OVERFLOW.
HEAVY RAINFALL FILLS RESERVOIRS.
The effect of the recent rains is clearly shown in the water return for June 1st, inued by the Public Works Department.
At the annual general meeting which has just been held you have bad the opportunity of considering the Company's balance sheet and for the reasons which have been Reservoir are level with over- Tytam Reservoirs and Kowloon given you the Directors have come fow and though there was only to the conclusion that capital of the an "intermittent supply in sil Company has been lost or is not Rider Main Districts during May, now represented by available assets to the extent of $189,000 which re- 1325, it is safe to assume that the presents a loss on each of the supply" was available during the 42,000 shares of the Company which very, watery end of the moath Kowloon reports full supply in have been issued of $4.30 and the
all' districte. resolution which is now before the meeting provides in part for the reduction of the Capital's capital. to that extent.
The report states: CITY AND HILL DISTRICT WATER WORKS.
May 31st, 1928, Tytam: Level with overflow, Tytam Byewash Level with over.
Tytam Intermediate: Level with overflow.
You will no doubt have observed on reading through the resolution contained in the notice calling this meeting that in addition to the re-How. duction of the capital of the Com- pany by the amount of 84.50 on each of the issued shares, a further reduction of 30 cents per share is tion of $5 per share and that this contemplated making in all a redue
part of the reduction is to be effect ed by repaying to the holders of
the issued shares 50 cents in respect of each share held by them.
The
reasons for
this
After making the reduction which Departments Closed,
I first mentioned, the Directors on Your Directore have carefully con account of considerations which I will give you presently, are of the sidered the situation and are satis opinion that the issued capital of fed that it would be in the interests the Company will be in excess of of the shareholders to close down all its requirements to the extent of $21.000 which as you will see repre the departments which are show-sents 30 cents on each of the issued ing a loss and to carry on the Tailor-shares. ing and the Outstting Department opinion are shortly as follows
New Premises. on premises less expensive. With
The Company is now about to this object-in view, we have rented
restrict its business to a very large premises, as from August 1st next extent by selling off the stock and
discontinuing the use of all de partments which are unremunera- tive, and in this respect it has now been decided that the Company shall strictly confine itself to the business of tailoring and cutfitting only. You are all no doubt nware of the different classes of business in which the Company has previous- y engaged and will realise what a drastic change this is and the cor- respondingly small amount of capital which will be required.
at a reasonable rental,
Powell's Building Sold. - Your property known as Powell's Building has been disposed of for the full amount, less. $80.00, of the two. mortgages, viz.: 8688,000, thus leaving a net loss of $304,000. The interest on the mortgages, Icas rente collected, constituted too heavy a rental for the business we were doing; moreover, it was apparent' that we should have to effect exten- sive, repairs in the near future which we could not afford. It'wax, therefore, considered advisable to dispose of the property, and the sum of $500,000 was the best we could get from the Land Investment Co., which was accepted.
By the terms of the sale wo have to vacate the premises on August 31st next, Under the cir cumstances we have to sell the major part of our fixtures and fittings and to dispose of the stocki
VICENTE ATIENZA & Co. held by the departments which are
No. 54, NATHAN ROAD, KOWLOON.
TEL. K. 155.
WHITEAWAYS
NEW SUMMER HOSE & HELMETS.
MEN'S SUMMER WEIGHT
GOLF HOSE
Light Weight Wool Khaki Hose with turnover tops. All Sizes.
Price: $2.75 pair. Medium Weight Mercerised Cotton Khaki Hoso. All Sizes.
Price: $2.50 pair.
In Lisle Thread and Fine Wool New Smart Designs in Fancy Checks, etc......
Price: $2.50 to $6.50 pair.
RELIABLE SUNPROOF
HELMETS
PITH- Specially made by our own firm in Calcutta. Various Shapes: $450 to $6.95.
CORK HELMETS TOWNEND3 of HAWKES
$11.50 to $13,50.
WHITEAWAY, LAIDLAW & CO., LTD. HONGONG
to be closed down. With this in view you will observe, on referring to the adjustment account, that we have created the following reserves:
For depreciation of
stock
873,031.40 For depreciation of furniture and fit- tings
10,000.00 to which must be added the loss on property, viz.: 8304,000, and the loss carried forward from last year, viz: 830,098.60, thus making a total loss of $420,828 to be provided for out of existing reserves.
In addition to this the Company will in the near future be moving expensive premises resulting in a into smaller and considerably less
further decrease in its capital charges.
*** |
1
Tytam Tuk: 10ft. Tins. below overflow.
overflow.
Wong Nei Chung: Level with.
Pokfulum: Level with overfow, On May 31st, 1997, Tytam Bye- wash was git, ains, below overflow, Wong Nei Chung 3ft. 3ins, and The ethere Pokfulum 3ft. dins. were full.
Storage In Millions And Decimals Of Gallons,
Tytam
Tytam Byewash .... Tytam Intermediate Tytan Tuk..... Wong Nei Chung... Pokfulum
Total
1927, 1928. 384.80 -384.80 -18.57 29.37
195.00 183.90
1,419,00 1,171.15 26.241.30.34 66,00
58.78
... 2,103.24 1,870.33 Consumption of water in the City and Hill District in millions and decimals of gallons during the month of May was as followe:
Consumption Estimated popula
tion Consumption per
1937. 1925. 295.70 233.30
411,820,422,240
23.1
17.3
head per day...... Constant eupply in all Rider Main Districts during May 1997.
Main Districts during May 1928.
Intermittent supply mall Rider
KOWLOON WATER WORKS. May 31st, 1928, Kowloon Heeervoir: in below overflow.
Sheklaipui Reservoir: 2ft. Gins. below overflow.
Reception Reservoir: Level with overflow.
sins, below overdow level.
Storage In Millions And Decimals 01 Gallons,
1997. 1929.
I now formally move the follow- ing extraordinary resolution:-
Laet year, May 31st, Kowloon Re "That the capital of the Comservoir was full and heklaipui TIL pany be reduced from $350,000 divided into 50,000 shares of 87 each of which 42,000 have been issued to $100,000 divided into. 50,000 shares of 82 cach that such reduction be effected by cancelling capital which has been or is un- represented by available assets to "the extent of 84.50 per share upan each of the 42,000 shares which have been issued and by return- ing to the holders of the issued loon in millions and decimals of shares paid up capital to the ex-gallons during the month of May. tént of 50 cents per share and
Kowloon Reservoir... 359.30 331.63 Sheklaipui Reservoir 71.50 106.09 Reception Reservoir
33.15
Total
..... "494.00 490.80 Consumption of water in Kow-
tion
by reducing the nominal amount Consumption........ of all the shares in the Company's capital from 87 to 82." "The résolution having been seconded by Mr. A. W. Brown, was passed unanimously, no questions being naked:-
The Chairman then announced
that the confirmatory meeting would take place on June-23th at 1215.
THOSE PRESENT. Messrs. M. Manuk (Chairman), R.
On the credit aide of the same A. Wndeson (Solicitor), R. L account you will notice that the sum
of $925,000 has been provided out Bridger and S. J. Jordain (Direc of general reserve and equalization tora), A. C. Howell (Secretary). of dividend account, thus leaving, Shareholders present were: after deducting the profit for the Mesers. E. J. Ainslie, A. W: Brown, year-viz.: 88,828; a debit balance of Leung Po Shan, H. Overy, A $150,000 to be carried forward to the Roberts, H. E. Scriven, Yap Fook
Ling. current year's account.
+
BANK NOTES-IN CIRCULATION.
STATEMENT FOR MAY.
1937, 1928. 87.08 107,15
HOME, FACTORY
AND BUNKERS
"
POWER HOUSE,
TUGS &
LOCOS
THE KAILAN MINING ADMINISTRATION,
Head Office -- TIENTSIN.
DODWELL & 00., LTD., Agents, Hong Kong-
MARCHANTS WHISKY
AND SODA "PLEASE”.
is the call of those whose good taste enables them to appreciate, and prefer, an old, well-matured whisky.
MARCHANT'S GOLD LABEL WHISKY
is supplied to the Ward-rooms and Messes of the Navy, Army and Air Force throughout the world, and can now be obtained at the leading Clubs and Hotels in Hong Kong.
Buy a Bottle for the House.
Obtainable from the leading Stores or the
Sole Agents:
T. E. GRIFFITH,
LTD.
6, Queen's Road Central
Tel. 3517.
片
160,240 105,280 MORE PROVISIONAL COURT
PROTESTS.
Estimated popula
Consumption per
head per day 17.5 20.0 Full supply in all districte during Mav 1927 and 1928.
The Government Analyst's re- poris shew that the quality of the water is satisfactory." Total rain- fall to May 31st. 1928, 33.15. On May 31ek, 1927, the rainfall totalled 42.77.
KERB GEM SALES.
DEALERS WHO CARRY FOR- TUNES IN A POCKET.
Smartly dressed, keen-eyed men.
INADEQUACY OF BEN-
TENCES.
SHANGHAI, June 6th. Two protest against sentences Imposed in the Provisional Court, Yesterday, by Judge Liang, were entered by Mr. H. E. Stevens; Senior Consul's Deputy.
The first arose out of the case in which two coolies were charged, One of the most remarkable together with others not yet in sights of London is Hatton-garden, custody, with the theft of two bags Holborn, E.C., that rather shabby- of flour from a boat anchored near Reddelion Of Share Value.
looking street which is the centre Chapoo Road bridge. Immediately after this meeting
of the world's diamond market. your Directors have called an extra-
When questioned, the first ac- Thousands of pounds' worth of cused denied all knowledge of the ordinary general meeting of share.
business in precious stones is done theft, and the second said that he haldera, when the proposal will be
thero daily by merchants and submitted for your approval to
knew nothing of the matter; he dealers as they stroll along the heard someone call out "thief" and write down the value of the Com-
pavements. pany's shares from 47 to 8%, and
only stood by and looked on. to reduce the Company's present The returns of the average they gather in little groups and acquitted, second, six months' im The judgment was first accused, issued capital from $294,000 to amount of bank notes in circula-chat about the market. Presently prisonment, and in entering his $54,000 "by similarly writing down the issued shares from 37 to $2tion and of specie in reserve in one will dive a hand into his poc protest Mr. Stevens said: This reduction will provide us with Hong Kong, during the month end-white paper. In a leisurely way he beyond doubt is that three or more ket and produce a folded piece of The preponderance of evidence $210,000 to be dealt with as follows: ed May, 31st, 1028, as certified by unfolds it, and decloses a few dis persons were concerned in the com- the Managers of the respective monde, a cluster of pearls, or permission of this offence. The sen- Banka;, are as follows:-
Specie in
haps half a dozen rings that blaze topce of six months given...the with gemst Banks Amount. Reserva..
These pass from hand to hand, acquittal of the first accused is not second accused is inadequate. The Chartered
Bank 814,910,888 $6,000,000 there are questions about weight, warranted by any of the reliable
comments on quality, and finally evidence given at the hearing. 21,000.00 Hoa Trong & Shanghai
prices are mentioned. If no salo .8210,000.00 | #Bank ...... $45,225,410 $34,000,000+ results, the owner wraps up his
Mercantil e
costly waree and tucks them casual- "Bank 81,780,004 $680,000§ly away in his pocket again,
Write a loss carried
forward .Refund 80 cents per
akare to share- holders on 42,000 is sued shares
-Total
$189,000.00
OTHER BUSINESS.
The adoption of the report and, accounts proposed by the Chairman was seconded by Mr. H. Overy and carried unanimously. Mr. 8. J. Jordain was re-elected to the board of directors on the proposal of Mr. E. J. Ainslie, seconded. by Mr. A. Roberts Messes. Percy Smith, Seth and Fleming were re-elected nudi- tors on the proposal of Mr. H Overy, seconded by Mr. H. E Scriver.
*
Total... 801,910,401 840,660,000
In addition Sterling Securities are deposited with the Crown Agents valued at £1,272,000. In addition Securities deposit
ed with the Crown. Agents and Straits Government valu- ed at £3,313,110,
In addition Securities deposit
ed with the Crown Agents valued at £180,000.
The Second. Casa, ⠀ “
Mr. Stevens' second protest' was"}
HEALTH BULLETIN OF EASTERN PORTS.
The Health Bulletin of Eastern poris for the week ending Juno and states:---
Plague, Basacin: 1 death. Bombay & deathe. Rangoon 4 deaths. Colombo
1 €300.
Amoy 1 case,
Cheribon: 2 infected rats.
Cholera
Bassein: 7 deaths. Calcatta: 90 deaths. Madras: 4 deaths. Moulmein: 1 death. Rangoon 4 deathe Bangkok: 8 cares, 4 deaths. Singapore: 1 case. Haiphong 3 cases, 3 deaths. Canton: 1 case, 1 death.
Small-poz.
Bombay: 27 cases; 13 deaths. Calcutta: 29 cases, 22 deaths. Madras: 9 cases, 5 deaths. Rangoon: 7 cases, 5 deaths. Pondicherry: 0 cases, 1 death. Belawan-Deli: 4 cases, 2 deaths. Shanghai: 6 deaths. Kobe: 1 case.. Changchan: 3 cases. Dairen: 10 cases." Mukden: 3 cares. Port Arthur: 1 case. Fusan: ease.· ̈
Judge Liang sentenced the first
in connection with a case whore Accused to six months imprison- Yet a single one of the diamonds an unemployed Chinese and & youth ment, while the youth was ordered which he has displayed may be of 13 were charged with the larceny to be detained in a reformatory for worth as much as £3,000, of two watches which were taken six months
Mr. Stevens' protest entered on
When there is a sale money from the promises at 121 Nanking rarely changes hands, because, the Road, at 4 o'clock on the morning the charge sheet rends purchaser is usually a fellow-dealer of May 28th. A policeman saw a
"The sentence of six months for
and bar a working account with number of Chinese near the window the crime of burglary is inadequate the vendor.
which had been amiabed and ar- under the law. There are nó ex-
Most of those who take part in rested the youth in possession of tenuating circumstances connected this trading have offices in Hatton- the two watches: From informa with the case of the first secused to garden, but they prefer to do ation given by the youth the first justify the reductid of the sentence good deal of their business in a accused was arrest later from the third to the fifth degree.
(Vonimmuco at foot of next columns | —North China Daily" News, frea-and-easy way outside.
fr