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THE HONG KONG DAILY PRESS, THURSDAY, MARCH 20, 1930.
NEW YORK MAGIS- TRATE REMOVED.
SCATHING, INDICTMENT BY BAR ASSOCIATION.
[UNITED PRES8.]
New York, March 13 New York's greatest bar scandal in de cades came to a sensational cul. mination to-day when the Appel- late Division of the Supreme Court decided that a magistrate, Albort H. Vitale, was unfit for the bench. The magistrate had been accused af perverting justice, of corruption and of misuse of his office Ba a re- sult of revelations last autumn by Representative F. H. LaGuardia to
the effect that Vitale had received a iibstantial loan from the late Arnold Rothstein, New York gam bier and "racketeer."
Scathing Charges, Formal charges of the most scnth. ing description, filed by fellow,.at- torneys of the Bar Association after the association's investigation into the case, declared the magistrate to
GREEN ISLAND CEMENT CO.
INCREASED PROFIT OF
$89,000.
HIGH STANDARD OF THE
PRODUCT.
Deep Water Hay Property. The Board have been consider- ably exercised in their minds as to what to do with your Deep Water Bay property in connection with which they had intended cali for tenders for the purchase of the works either as a going concern, or, for the buildings and machinery to one purchaser, and the land to another. The property is, however, Mr. C. A. da Raza (Chairman) held on a lease from the Govern
ment, the terms of which restrict presided at the shareholders' ad cual meeting yesterday of the Green Island Cement Co., when a free and prompt realization there cf, but negotiations will be con- satisfactory report of last year's tinued with the view to obtaining working and of the Company's the best solution possible, but what prospects for the future was pre-ever may be the ultimate result of tented. Profits were up by 880,000 auch negotiations, in view of the and the high quality of the cement decision to cease the manufacture produced enabled them compete of bricks and tiles, etc., it is pro successfully in every market open posed to sell the buildings, machin to them.
ery, stocks, etc. Your Board have not reached this decision without reviewing the whole situation most carefully in which the enormous loss suffered by the Company since the inception of the works in 1996
THE CHAIRMAN'S SPEECH, The Chairman addressed the meeting as follows:-After provid- ing for depreciation in the sum of 875,730.67; the profits for the year
THE
CHINA PROVIDENT."
OVERDRAFT REDUCED BY FOUR LAKHS.
REVIEW OF LAST YEAR'S
BUSINESS.
THE WATER SUPPLY.
823 MILLION GALLONS ON
ISLAND.
The total storage in the island reservoirs on the morning of Mon- day, March 17, amounted to 828.17 million gallons shewing a decrease, of 48.69 million gallons during the past week; the amount collected. from streams being 1.13 million gallens.
Kowloon Supply.
Mr. C. A. da Roza, Chairman, at the 33rd ordinary Annual meeting
The week's consumption amount vident Loan and Mortgage Co... of shareholders of the China Pro- Ltd., held yesterday in the Comed to 47,89 million gallons.. pany's Board Room, gave a de tailed report of the year's business. The nett profit for the year amount- ed, he said, to 870,530.10 which it was proposed to carry forward to the credit of the 1030 account, to- gether with 843,040.92 brought for- ward from 1928, leaving a balance
The total storage in the mainland reservoirs, on the morning of Mon- day, March 17, amounted to 378.60 million gallons showing a decrease of 19.38 million gallons during the past week.
The weeks's consumption amount- ed to 24.40 million gallons, not in-
of $133,571.11 to credit of profitcluding 1.52 million gallons supplied
to water boats at Laichikok. and loss account.
The yield from the Shing Moun Supporting the Chairman were:-
River and streams during the week
be a faithless public servant and, amount to, 8927,007.09 heing an and the apparent impossibility of Sir Robert Ho Tung and Messrs. was 18.34 million 'gallons.
on February 15, ho was ordered by
Presiding Justice, Victor J. Dowl, ing show cause why he should not be removed from the bench.
Evidence presented to Juztico Dowling by Kenneth M. Spence, chairman of the investigating com- mittee, who acted as Vitale's pro- serator along with George Z. Me- dalic, another committee member. indicated that Vitale received through the offices of the late Ion ard Saltkin, an attorney, a loant of G.820,000 from Rothstein.
in
When he received this money, for the purpose of covering his mar gins in Banco d'Italia stock July, 1998, Vitale "well knew that Rothstein was a person of evil fame notorious and reputation and a common gambler and that accept- ance of the loan would place him under financial and moral obliga- tion to Rothstein.", according to
the Bar Association's charges.
In summing up the whole, trans- action the Bar Association, using language of almost unprecedented itrength, stated:
"The loan was not procured in the ordinary course of business, as the respondent (Vitale) well knew. The respondent improperly and wilfully used the prestige, power and influence of his office to pro- curo said loan, and his conduct in accepting it, as the respondent well knew, was in reckless disregard of the honour and dignity of his office, and his conduct tended to impair, and did impair public con- fidence in the integrity of criminal justice."
Alleged Evidence Suppression. A second charge dealt with the
before him on August 8, 1928, on a
improvement. compared with the figures for the year 1928, of a little over $80,000. In the opinion of the Board, the result may be regarded as satisfactory having in mind the severs competition experienced in all our markets during the period under review, a factor which has necessarily affected our profits ad- versely. Generally speaking it has beeg a difficult period of reccoding prices intensified by our own prob- lem of keeping down production costs which, in the operation of a plan: long past its period of econ omical production, tend to rise con- tinually. Including the balance of 39,902.61 brought forward from the previous account, there is a balance available of 8930,809.63 which the Directors recommend should be appropriated in the payment of a dividend of 30 cents per share on the old shares and 4 cents per
A. L Alves, T. B. Wilson, 8. M. this section of the Company's busi-Churn, P. M. Hodgson, N. V. L.
ness being successful in the future, carried, due weight. These losses Croucher, J. E, Taggart and the it will be generally agreed that holders present were Mr. A P. amount to 8470,300.30 and we think Hon. Mr. J. P. Braga. Share- what we propose doing is in the Samy and D. L. King (Secretary). best interests of the Company..
The only important change in the Company's balance sheet is the item Fixed Deposit $400,000, which does not figure in the assets at This sum was December 31, 1028.
very remitted to Lordon at a favourable rate, as initial payment on the signing of the contract with "It is Vickers, Armstrongs, Ltd. hard at this stage to tell you exact
what the total cost of the new plant will be, but we do not antici- pate it will cost us much more than £270,000.0.0d. A great deal, how ever, depends on the work in con. nection with the foundations, so the an approximate obe. fixure mentioned is naturally only
Prospects for Present Year. I do not know if you expect me to say anything about the pres- pects for the present year on which the Board certainly do not care to share on the new shares absorbing prophesy, but it is obvious that the present level of exchange should assist our, local business as $136,000 and to carry forward the
new nuch as our export husiness, but balance of $100,999.63 to a account, and in this connection ait is advisable to add, nevertheless, with the existing obaolete plant at resolution will be submitted to you. that we cannot make big proats
Macao Worka,
It was stated from the chair at the last annual meeting that it was not the intention of the Board to
case of Charley Fawcett, brought spend further capital in Macao, and in the circumstances I think I should explain that the item of
charge of having stolen 879.51
from the till of Joseph Earth, a Bronx shopkeeper. Vitale dismiss. ed the charge, but subsequently or dered the money to be returned' to Harth....
to
145,494.16 since expended at these works cover the cost and erection
Our
Hot Un.
The Chairman addressed the meeting as follows:-Your Board has pursued its policy of liquidating: loans made by the Company, and bas disposed of property to the value of 853,000 while shares have The sums derived from been realised to the extent of $61,500. these transactions were sufficiently in excess of valuations to enable us to transfer the sum of 880,092.58 from specific reserve, for loans to general reserve account.
Further reductions in principal indebtedness were effected during the year by certain of our debtora, interest to the extent of $14,685.13.
Towards the end of the period and credit has been taken for loan
under review your Board deemed it advisable to institute foreclosure proceedings in connection with cer tain property at Aberdeen, valued in 1926 at 888,000 and in the ac- counts which are before you, this property has been transferred from loans to property account in which it appears at the above figure.
This transfer represents a large sum involved in loans has been reduced during the year; the ac Portion of the amount by which the
count standing at 2672,862.16, or some 273,000 less than at the close of 1928.
In conclusion I would like to mention that during the year 1920, the Company's Chief Clerk at our
Our late General Managers fur. Hok Un Works, Mr. P. F. Cther reduced their debt during the Prata, who had been with the Com
year, and it is most satisfactory to have to report that during the last few days, this account has been paid off in full.
pany for the past 38 years retired an account of ill-health and your Board, anticipating your approval, granted him a pension of $130 per month, a pension, which I am sure you will agree has been well earn
New Offices.
of a grinding mill, which was ordered by long and faithful service. ed in 1998, but only delivered last The Bar Association declared that the return of the money was year, and also for the completion prevent dissatisfaction. on the part of the works. Whilst on this sub- of Harth and to prevent the latter ject I am pleased to inform you from taking further proceedings, alleging wilful and corrupt up that our consulting engineer con- pression of evidence" in the case,
aiders Macno works, which In to-day's decision by the Ap-
new consists of four (4) vertical nellate Division, it was shown that the evidence proved that Vitale kilns of the very latest type, to be entered office poor, and now owns an excellently equipped factory, property valued at $100,000.
The case has rocked New York and, I may add, it has been of
material benefit to us. for months past, providing sensa- tion after pensation and developing political ramifications of wide con- sequence. The unsolved mystery Our Hok Un Works, as they
of the murder of Rothstein has Already caused a considerable po- litical turn-over, bringing the pre- sent. police commissioner, Grover Whalen, into office and now en- dangering him in turn,
Indications are that the Vitale affair will have a great influence upon the next municipal election.
PRISON SENSATION IN NEW JERSEY,
LIFE PRISONER WHO RAN
AMOK..
[UNITED PREAS.]
»
New Plant.
The
Your Board will continue to avail itself of every opportunity of dis- posing of further securities for the reduction of our overdraft at the Bank...
The Company's Godowns,
"
I have already referred to the increase in our property account by
KOWLOON CITY MURDER.
MEDICAL EVIDENCE IN BHUDDIST PRIEST CASE.
The hearing of the case in which four Chinese are charged with the murder of Chung Hung Tsap, a Bhuddist priest at 3 Sha Po Road, was resumed yesterday at the Kow leon Magistracy.
Dr. J. E. Dovey, giving evidence, said that he examined the body of
male Chinese, age about 81, and found that the cause of death was asphyxia or suffocation. Witness extracted a piece of cloth from the mouth of deceased.
Dr. D. J. Valentine, said he back of second defendant's left hand, and a wound on the index found five small scratches on the
finger of the right hand. The wound must have bled considerably, and might have been caused by a broken cup, such as that shown to him in Court.
Chan Pui, a detective, said that
with another Chinese officer, he ar rested the first and fourth defen- dant outsidy Mongkok Theatre on February 17 at about 4 pm. On
pany with the fourth defendant cd the Mongkok Theatre, in com- the following day they again visit
And they arrested the second de- fendant after a struggle.
A sub-inspector stationed at the Kowloon City said that at about 4 p.m. on the day in question he went to 3 8ha Po Road, second floor, and found deccased dead br the floor. The body had, a towel tied round the mouth and acck and the hands were fastened with wifes and another towel,
The case is adjourned until 215 p.m. this afternoon.
This is probably the last occasion
The Exchange Again! un which the annual general meat- ing will be held in this building,
Interest on Mortgages and Over- for the Secretary and his staff in the sum of 898,000. A further sun draft, though some $15,000 less than accordatice with the decision of the of approximately $34,000 has been in the previous year, represents no recent extraordinary general meet-placed to this account, representing less thar. 31 per cent. of the Com- ings in reference to the General expenditure on improvements and pany's net revenue for the year; anngership, are moving at the additions to our godowns-in parti- an excessively heavy load to carry, end of this month to Exchange cular to our Kennedy Town pro-and one which cannot show any ap Building where suitable offices have perty where it was considered ad-preciable reduction until local con- our storage itions improve sufficiently to en- I now formally visable to increase been procured. propose that the Report of the capacity and consequent earning able us to realise the properties mortgaged to the Company. A com- Directors and Accounts for the power.
Your Board has also approved the plete liquidation of loen securities year ended December 31. 1929, as presented, be adopted and that the construction of two small single would afford es relief on interest account to the extent of some allocation as recommended by your storey godowns on some vacant land Directors be adopted namely:-. in the same district, to meet the $43,000 and I am pleased to inform demand for special storage accom- you that the liquidation since the To pay a dividend of
modation connected with our ship date of the balance sheet, previous- 30 cents per share.
ly referred to, has contributed some on the old shares... $120,000.00 ping business.
During the Sundry debtors. though slightly 911,000 to that end. To pay a dividend of
higher than at the close of 1995, first seven months of the year, have been reduced considerably earnings were well maintained, but early in the current year, and now the drop in exchange since then- stand at approximately $35,000. brought about a curtailment in im- General Reserve Account has reports of staple commodities, which 100,908.63
ceived a further credit during the was inevitably reflected in our the Bum of 811,050.93, revenue towards the end of the 8226,990.53 Year in
No further decrease in which represents dividends declar year.
4 cents per share on the new shares. To carry forward to credit of next year's account
Other Business. “
די
16,000.00
Your godowns, Gentlemen, have been kept in an excellent state of repair, and all expenditure incur red in this connection has been met out of revenue.
Bince the report of the Directora was issued, Mr. J.. H. Taggart has been invited to a seat on the Board.
I now beg to propose
stand to-day, do not naturally meet with his approval, the" Kilaa and machinery there being of a type lang since discarded, and if I may use the term very fatigued." Great credit is, therefore, due to our Works Manager and his stall for the continual production of a high grade cement which passes by a large margin the British-Standard Specification for Portland Cement and which u equal, if not better. than any imported cement produced and I shall be obliged it a share.ed by this Company for the years volume of business has been shown. under modern methods. The trou-holder will kindly second such pro- 1931 to 1924. These, being unclaim this year so far, and the Company les of our technical staff in regard posal, after which I shall be pleased led have been forfeited for the tinues to receive & good share of
to reply to the best of my ability benefit of the Company. General the storage busincas offering. to old machinery, will, however, soon be removed for as you have to any questions in connection with Reserve Accounts now stande at heen informed at the extraordinary the report and accountz that share- $123,547.38 and is, in the opinion of your Board more than sufficient to general meeting held on the 5thholders may wish to ask.
The motion having been duly meet any contingencies that may February last we have purchased Trenton, NJ.. March 13.--Riot from Messrs, Vickers, Armstrongs, seconded by Mr. A. L. Shields, arise. ing broke out in the New Jersey Ltd., an entirely new plant, which the report and accounts were un- State prison here to-day as A we hope will be in operation before animously adopted. prison guard, Frank Butcher, and the middle of next year,
"lifer or prisoner under sen-ins, machinery, etc., for the new tence of life imprisonment, Charles plant will all be of the very latest Evans, were killed and two guards design and of British workmagship Ho Tung were re-elected directors throughout. With the new plant on the proposal of My N. V. L. installed and operating, we shall, Croucher, seconded by Mr. H. be able to market our product at Dryer.
Messrs. Linstead, & Davis and rates enabling us to compete suc cessfully in every market open to Messrs. Lone, Bingham & Mat- as. The whole plant will be elec- thews were re-elected auditors on trically driven and in this connec- the proposal of Mr. G. C. Moxon, tion I would like to mention that seconded by Mr. O. Kitchell.
Directors present were:-Mr. J. we have entered into a very favour- able contract with our friends the H. Taggart, Sir Robert Ho Tung,
An increase in turnover and nett China Light & Power Co. (1918). Messrs. J. Scott Haraton, C. F. Ltd., for the supply of electrical Mendham. C. A da Roza (Chair- energy.
Your Board, however, man), Li Tze Fong, and Allen profit in the shipping department has offset the temporary decrease There have been five savage con- realising that it may, possibly be Keith (Secretary).
Shareholders present were: in nett earnings which was record- vict rebellions in major American more economical, for this Company prisons within the past half-year, to generate its own electricity, Meanrs. H. Dryer, A. C. Botelho, ed in 1028, while both the gross and nett godown earnings show an im- the last being on December 11 at some time in the future, have en N. Braga, Hon. Mr. J. P. Braga,
Moxon, A. Lprovement in the year under review Auburn penitentiary, New Tork, tered into this contract for a period Messrs, G. C. Another riot occurred at Auburn of only five years, alter which Shields. Ein Kon Chi, O. Kitchell, for which the staff is to be "com. some months before. Total des period the whole situation vis-a-vi. Sadick, M. A. Figueiredo, F. E plimented, particularly in economies truction of property amounted to electrical energy will again be re- Silva, C. 5. Remedies, and N. V. effected,
(Continued on nezt Column.) viewed.
L. Croucher. ††G.$1,000,000.
were wounded.
Buinmioned.
All available city police were At 8 o'clock this evening the prin- cipal prison keeper, Mr. Stone, announced that the riot had been quelled.
Authorities denied that there had
"real rioting,' been
explaining that the "lifer". Evans had "run amok" while convicts in their cells had shouted and created excite.
ment.
Mr. R. G. Shewag and Sir Robert
-
Net Proft $70,000, I am pleased to report that our overdraft was reduced during the year by the sum of $250,000 and that & further reduction of $165,000 has been effected since the date of the balance sheet; making a "total reduction since we last met of the substantial amount of $415,000.
Turning to the profit and loss necount, Gentlemen, you will note that the nett profit for the year 870.530.19 — compares with that for the preceding two years in which our prests were ap proximately $21,000 and 841,000 respectively.
favourably
"That the report and accounts for the year ended December 31, 1950, as presented, be adopted. and when this has been seconded, I shall be pleased to answer any questions, that you may ask. The motion was seconded by Mr. J. H
No question being asked, Taggart and adopted unanimously.
OTHER BUSINESS. Messrs. P. M. Hodgson and S. M. Churn were re-elected directors on the proposal of Mr. A.-P. Samy, seconded by the Hon. Mr. J. P. Braga.
Messrs. Linstead & Davis and Messrs. Percy Smith, Seth & Fleming were re-clected auditors to the Company for the year 1930
at a remuneration of 81,250 each on Croucher, seconded by the Chair- the proposal of Mr. N. V. L.
man.
15