INTIMATIONS.
HONG KONG JOCKEY CLUB.
INTIMATIONS.
B
PUBLIC AUCTION.
DARTICULARS & CONDITIONS
TOTICH IS HEREBY GIVEN
GENERAL MEETING of the VOTING MEMBERS of the HONG of the sale tr Public Anction KONG JOCKEY CLUB will be held to be held on MONDAY, the END at the CLUB HOUSE, HAY FALLET, DAY of JUNE, 1930, at
31 Victoria, the Colony of Hong Kong. at the Offices of the Public Worke on WEDNESDAY the TR DAY of Department, br Order of JUNE, 1930, immediately after the EXCELLENCY TER GOVERNOR, of One Lot HALF YEARLY MEETING of of CROWN LAND at Mong Kok VOTING MEMBERS, for the purpos0 Teni, in the Colony of Hong Kong, for of considering, and if thought fit, a term of 75 years, with the option passing the following resolution
of renewal at a Crown Bent to be fred by the Barveyor of His Maszati dan Kixe, for one further term of 75 years.
PARTICULARS OF THE LOT.
That the present unincorporated Members Club known as the Hoxe KONG JOCKEY CLUE be incorporated and registered in Hong Kong under the Hong Kong Companies Or dinances as a Company limit
limited
by guarantee and that the name of such Company shall be the Hong Kong JocrET CLUB and that the draft Memorandum and Articles of Associa tion contained in the printed docu- mens submitted to the Meating sud identification
the
рперова
fcribed by the Chairman thereof
10
and adopted as the
Memo and Articles of Associn.
tion of the Club as incorporated and that the mine be subscribed by the sxisting Stewards of the Hore Kona JOCIET CLUB and registered as such and that the Company be registered without the addition of the word Limited to its names being an: Rociation which intends to apply profits in promoting its objects and which probibits the
of any dividends to its Members I that the
الله
erating Stewards of the Hone Koxa JOCKEY CLUB do forthwith after the incorporation and registration of the id Company transfer and assign the property effects bench and liabilities of the present unincorporat ed HONGKONG JOCKET CLUB to the Company so incorporated and gistered."
And NOTICE IS HEREBY ALSO
GIVEN that A Further EXTRAOR- DINARY GENERAL MEETING of the HONG KONG JOCKEY CLUB will be held at the Same Place on MONDAY, the 23D Day of JUNE, 1930, at 5.30 O'ctoox in the AFTERHOUR, for the purpose of receiving a Report of the Procuerings of the above mentioned Meeting and of if thorght fit, the above resolution
Copies of the proposed Memorandum and Articles of Association are open to
the of Members sad can le
введ
the anal Business Hours st the Office of the Secretary, Ma. C. B. BROWN, MESBRE LINSTEAD DAVIB, Alexandra Buildings, Hong. kong. and at the Office of MEMBRA DEACONS, 1, Das VOEUX ROAD CENIKAL Hong Kong, the Balicitors, and at the CLUB EQUSE,
HAPPY VALLEY, Hong Kong,
Club'e
Dated the 21st day of May, 1930,
By Order of the STEWARDS.. C. B. BROWN,
Secratery.
[8463
CREDIT FONCIER D'EXTREME
ORIENT.
MORTGAGE BANK AND ESTATE AGENTS.
"PEAK MANSIONS" Six-roomed & Five-roomed Apartments One Small Five-roomed FLAT Available
From 151 AUGUST,
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i
41
Kowloon Inland Lot
of Kowloon
No. 2339.
North at No. 2138,
Portiand Btreof.
No. of Bala
Hegistry No.
Locality.
PA
G.
Boundary Measure-
ments.
A per
sale plan
About
4,102
7,336
Contents in
Square feet.
A
Hental,
* Upset Price.
R.
| wri
[9478
PUBLIC AUCTION. ARTICULARS & CONDITIONS of the Sale by Public Anction to be held MONDAY, the 2ND DAY et JUNE, 1930, at 3 r., at the Offices of the Public Works Department, by Order of His EXCELLENCY TI GOVERNOR, of One Lot of CROWN LAND at Kennedy Road, in the Colony of Hong Kong, for a term of 75"years, with the option of renewal at a Crown Rent be fired by the Surveyor of His MAKETT TE Kize, for one further term of 75 years.
PARTICULARS OF THE LOT.
No. of Bake
Inland Lot
Registry No.
Locality.
/99le on
No. 3062.
Near Inland Lot ̧
Kennedy Road,
Boundary
MeRaute
menta.
ま
Ав рет
asle plan.
To the Publisters
ما
Contenta in
Square feet.
Annual
Rental.
(Upset Price i
About
102
19479
"HONG KONG WEEKLY
"PRESS"
14,630
THE HONG KONG DAILY PŘESS, SATURDAY, MAY 31, 1930.
DEVELOPMENT CO. AND
A SECOND CALL.
INTERESTING PROTEST AT YESTERDAY'S SPECIAL MEETING AT LIQUIDATORS' OFFICE.
SHAREHOLDERS ATTITUDE TOWARDS
THE COMPANY'S DEBTORS.
The meeting of the Hong Kong Development Building and Savings Society (in liquidation) which was to have taken place last week, but which was postponed until yesterday for want of a quorum, duly took place at the offices of Messrs. Percy" Smith, Seth and Fleming (liquidators).
Mr. J. H. Seth was in the chair, the only other persons pre- sant being Messrs. C. H. Basta and J. J. Basto (shareholders), Mr. Leo D'Almada e Castro, and representatives of the Press.
"
NO STEPS AGAINST DIRECTORS.
CHINA FIRE INSUR-
·ANCE COMPANY.
YESTERDAY'S ANNUAL
MEETING.
The Chairman's speech at the annual meeting of the China Fire Insurance Company is given below. The Hon. Mr. J. Owen Hughes pre- sided and the following were pre- sent:-The Hop. Mr. C. G. S. Mackie, Messrs. J. K. Bousfield, A. Plummer, D. O. Russell, J. P. Warren (Directors), Mr. Paul Lauder (General Manager), and Messrs. J., Alabaster, G. S. Archbutt, A. E. S. Alves, John' Bentley, N. V. A. Croucher, B. M. C. da Cunha, F. M. Ellis, John Fleming, F. H. Farne, H. C. Gray (Shareholders).
were
The Chairman said: Gentlemen- The report and accounts your approval. I will follow the issued on May 9, and, subject to usual procedure and take them, as the auditors' report, as read.
31, 1930, no action be taken by Directors of the Company for anwell as the liquidators against the late indefinite period.
2. That sanction be given for the
"After reading the notices conven- ing the meeting, the Chairman said: At the meeting held on May 23 there was no quorum and the meet- ing was kept open for the prescrib-liquidators to accept compromise ed period. Mr. H. Turner proposed offered by Soo Pei Shao & Co. of 88,000 in full settlement of their and Dr. Sousa seconded, there being debt to the Company of $86,372. no quorum present, that the meet- 3.-That sanction be given for the ing be adjourned until that day liquidators to accept such coin- week, at the same time, at the promises from any of the debtors offices of Messrs. Percy Smith, Seth consider advantageous.
on such terms as the liquidators and Fleming. It was carried un- animously. In accordance with that resolution, a further notice was inserted in the newspapers as fol-
lows:-
There being no quorum present, the extraordinary general meeting convened for May 23, 1930 wan ad- journed to Friday, May 30, 1930 at the same time and will be held at the offices of Messrs. Perey Smith, Seth and Fleming. 6, Des Voeux Rood Central-J. Eennessey Seth, S. Hampden Ross, liquidators."
Counsel's Views.
The fourth resolution, which was to the effect that "sanction be given the liquidators to waive all claims by the late Dr. J. C. Dalmaboy to any specific legacies bequeathed Allan which, for the purpose of probate, were valued at $4,307, was seconded by Mr. C. H. Basto and carried unanimously. It was explained that these bequests were in the nature of curios, etc., given to Dr. Allan's friends,
The Chairman: That is. all shat we have to do this afternoon.
No Eestraint on Second Call.
Mr. Almada: Before closing You will recollect that at the the meeting, I must thank you for meeting convened for October 25 granting me the privilege of attend- last and adjourned to November 29,ing this meeting, notwithstanding the liquidators were requested to the fact that I am not a shareholder consider the advisability of taking and that I am acting för nobody proceedings against the late direc except my friends, Messrs. Basto tors, and were asked to consult Mr. bere present, who have paid their Leo d'Almada e Castro with this full calls up to the present time. end in view,
, ...י
In accordance with these wishes,
we instructed Mr. Leo d'Almada e Castro to obtain the opinion of two counsel, Messrs. F. O Jenkin, and H. G. Sheldon. This opinion was received by the liquidators on April 9 last, and as it did not hold out much hope of succeeding in an ac tion, the liquidators decided to take no further steps without laying the position before contributeries.
The working account for the year 1928 shows a balance of $348,094.6. Your Directors recommend that a anal dividend of $9 per share nad a bonus dividend of 86 per share) on 20,000 shares be paid share- holders, absorbing 2300,000, and that the balance be carried forward to underwriting suspense account to close the account for the year 1928.
working account is 91,127,629.84. The balance at credit of the" 1929 Out of this balance your Directors terim dividend of $3 per share, rocommer'd the payment of my in- absorbing $60,000, and that the re- mainder be carried forward,
As was only to be, anticipated, the accounts before you are affected considerably by the fall in the Sterling value of the dollar at December 3 as compared with December 31 the previous year.
For example, you will notice that the total of the assets of the Com- pany is increased by over $2,000,000 as compared with the previous year. The explanation of this large in- crease is that the Company has a preponderance of gold assets over silver, the dollar equivalent of which is of course, considerably auginoted.
The balance at the credit of the working account 1929 is over the 1925 working recount at the $100,000 more than the balance of
corresponding period last year, which is a satisfactory increase not- withstanding the fact that it has also been affected by exchange.
I now move that the Directors' report and statement of accounts, this has been seconded, I shall be as presented, be adopted, and when
pleased to answer any questions you
been representing many contribu- As you are fully aware, I have
tories who were actually keenly in terested in the activities of the Com- Paay from its very inception. With view to alleviate the necessity of dence which might appear in the conditions and difficulties of trade, further publishing any correspon In view of the present uncertain public Press, I want to remove from the policy of your Directors in leav the minds of the public the facting the dividend unaltered will, I which you stated a moment ago. know, commend itself to you. It was the intention to convene to the Court to restrain_you from that the contributories have applied meeting at an early date to lay the making the second call. This is not 11, ICE HOUSE STREET, HONG KONG opinion before you, but in the the case at all. There was no Bp meantime certain of the contribu-plication from the contributories to Please send me the
tories had made an application to restrain you from making this call restrain the liquidaters from pro- at all, and the only application ceeding with the making of a second call, and in order not to embarrass the parties concerned the eeting was not convened until that application had been disposed of.
In order not unduly to protract this meeting, I do not propose to read out counsel's opinion, but it is open to inspection. If, however, it in the desire of this meeting that the opinion should be read out, I will do so.....
"HONG KONG WEEKLY PRESS "
from ............. 1930
addressed as followa:-
SUNSCRIPTION PAID IN ADVANCE 13.00 per annum for delivery in Hong Kong."
$15.00 per annum to any part of the world (including postage).
BLUE STAR
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which went before.
The Chairman: Mr. D'Almada, one second, please! I did not say that the application to the Court said was to restrain the liquida was to restrain the call. What I tors, from proceeding with the making of a second call."
Debts Amounting to $570,000. Mr. D'Almada: That is equal to The around resolution on the what might be an application to agenda is to sanction a compromise the Court to restrain you from pro- with Messrs. Soo Fei Shao & Co., ceeding with the call. That is not who have requested the liquidators so The application was made to to place their offer before you, and the Court to ask you to suspend to comply with their request, I will the operation of that call pending formally move the resolution later., applications which the applicants. The third resolution has been had then made to the Court that placed on the agenda on account of certain proceedings should be com the difficulty in obtaining a quorum menced by you against numerous for extra-ordinary resolutions. debtors of the Company, and so far as my clients were aware, theso debts. amounted to something like $570,000 of monies actually loaned out by the Company. I think.
Liquidator's Attitude, Certain of the debtors who were unable, until recently, to repay their fonus, may now be able to make offers through the assistance of friends if they were satisfied that the offers would be treated con- fidentially, but I should like to add that the liquidators would rather not have sole responsibility of de- ciding whether to accept or reject offers."
The fourth resolution will I hope, be passed unanimously, as the amount involved is not very large
The Chairman: I don't know what you are going to say, Mr. D'Almada, but I think if you will just correct what I have said, that is all that is required.
Mr. D'Almada: I want to say that there was no application to re- strain the call.
The Chairman I have perhaps used the wrong word. I intended to mean suspend," I am prepar- ed to amend that.
and although the articles comprised Mr. D'Almada: I think it my duty to rectify that, and I would be failing in that duty to my client if I failed to draw attention to it.
in the bequeat are valued for pro- bate at 84,307, I have every reason to believe that, in the event of a sale, the amount available will not be anything like that figure, and this Company will get only about 1/10th of the sum. The bequests are in the nature of personal articles, such as family silver, guns and fishing tackle and were, no doubt, left by the late Dr. Allan more in
Corrected for Record,
The Chairman then corrected for record that portion of his speech re- ferring to the restraint to read as follows:-
"It was the intention to convene a meeting at a early date to lay
NATAL LINE OF STEAMERS the nature of mementoes for his the opinion before you, but in the
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friends. I may add that Dr. meantime certain of the contribu Allan's estate has paid up the 1st tories had made an applicatión ask- and 2nd calls in full, amounting to ing the Court to direct the liquida $20,000,
tors to suspend the operation of any I will not formally prenses their armblutightste frot resolution, and after it has regarding the second call and to Imi teensca teet tu quis commence to answer any questions to the best proceedings against the debtors of of my ability.
the Company amounting to about The first. second and third resolu. 8570,000, tions, which are as follows, were not The Chairman: I am very sorry, seconded:-
Mr. D'Almada, about this. It is 1-That having in view the simply my ignorance of the actual -opinion of two counsel dated March--procedure
may care to ask.
Mr. G. S. Archbutt seconded and the report, and accounts were car- ried unanimously.
At Ripon, Wisconsin, last week a runaway horse broke an oil pipe- line and sparks from the horse's shoes ignited the escaping oil, with the result that seven tanks of oil exploded, spraving adjacent fag tories and dwellings. Several gual- ler buildings were destroyed by the subsequent conflagration. but fre- men, were able to save others.
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