AMANS
ARE
NEEDS
MANY
and just because the needs multiply with the years faster than the where-- whithal to gratify them, so it behoves a man to. spend with greater discernment; to shop where his purse is treated with respect and his taste with consideration.
We invite you to look over our stock so carefully selected for your present needs.
Mackintosh's
SHIRTS.
The Representative of Messrs. TOYO MURAKAMI, of SHANGHAI, takes Orders
for SHIRTS at
Messrs. KOMOR & KOMOR ART ROOMS, Chater Road,
Samples of Silk, Crepe and Cotton Shirts will
be shown for 5 DAYS Only.
THE ASIA COAL & BRIQUETTING CO., LTD.
Manofacturers of Coal Briquettes under the registered trade name "GOKETS" Supplied in 3 different qualities.
RULING CASH RETAIL PRICES
Hong Kong or Kowloon.
A quality known as "Steam Gokets":-820 per ton ex godown, “B quality known as "Farnaco Goketa" $20
quality known as "Smokelss Gokots":-6IB.50"
Delivery charges for Household (1) Peak districts (aboro Bowen Road)...
Hong Kong:
#
Н
$4.00
Lon. per
...83.50 * I
(3) Catné Read and Banbam Road
(3) Pokfulani de fer as Sassoon Road
$3,25 $9.50
$2,50·1
* 11
2) All roala above Caine Road and Bonham Road
and below Bowen Road -
Wanchai and Cansoway Bay (beyond City Hall.$3.25 (6) Low Levels
Kowloon All parts of Taim Bn Teni, Yanmati, Mongkok,
Hanghom, Kowloon City and Lalchikok... ..$1.00 Lots of orion will be delivered at full rates. Office: Chica Building, 2nd floor,
21
Telephone 21385.
WHITEAWAYS
TRAVELLING GOODS..
NEVERBREAK
TRUNKS
TRUNKS
TAXI SUITCASES
AIRPLANE SUITCASES
SOLID LINEN
BAGS
ETO, ETC.
“NEVER BREAK” TRUNKS We have just received a new consignment of the famous "Never Break" Trunks in Cabin Wardrobes, Medium Size Wardrobes, and Taxi Wardrobe Trunks. Absolutely the last word in travelling equipment.
Taxi Wardrobes from $65.00 Cabin Wardrobes from $125.00 ETC., ETC.
CALL AND INSPECT,
FIRST FLOUR SHOWROOMS,
WHITEAWAY, LAIDLAW & CO., LTD.
HONG KONG
HONG KONG DAILY PRESS, FRIDAY, FEBRUARY 20, 1931.
BRITISH-AMERICAN TOBACCO CO.
DIFFICULT TRADING CONDITIONS OUTLINED
AT THE ANNUAL MEETING,
CONDITIONS IN CHINA FAR FROM SATISFACTORY,
Presiding at the annual meeting of the British-American Tobacco Co. Ltd.,, held in London recently Sir Hugo Cunliffe-Owen addressed. the shareholders his follows:
As you are aware; it is usual at our annual meeting to go through the various items of the balance aheet and make soir comments thereon. Taking the asacts side of the balance sheet first, the item of real estate and buildings at cost less provision for amortization of lenseholds, £870,440, shows an in- grease of £177,970 a, compared with last year. This is accounted for by the expenditure during the year on additional leasehold properties and on completion of the factory building which last year was in course of erection....
Plant, machinery, furniture and fittings at cost or under, 2880,022, shows an increase of £35,443. This incronse is unde up of items of additional machinery required in your factories. Goodwill, trade marks and patents remain at the same figure as last year, viz., £200,000, and in view of the great value of the company's trade marks, the directors reinain of the opinion that this item should hp- pear on the batamebahoet, even if only at the omilibl value of £200,00.
Investments.
Croditore, ie, subsidiary com Panies £633,811, asociated.com. Panics 21,306,485, and albo credi tors £4,008,907, inaking a total of Le,690,203, represents a decrease of £1,133,884 on the figure at which it stood last you. The giéster portion of the balances consiste of provision for payment of laxa- tion due to British. Dominion and foreign Governments and moneys deposited by your subsidiery and associated companies,
The item of reserves for build- ings and machinary now stand, at £575,000 an increase of £26,600.
Premium on Ordinary shates is- sized studs, at £580,808; an in- due to the premium received on clease of £4,250 This increase is the shares issued to directors pre- viously mentioned.
Provision for redemption of con.. pous 10w stands at £64,000, an increase of £4;430;
Special reserve has increased from £1,924,014 to £1,024,070, an increase of £38, As your chair. men have stated in speeches in previous year, this mecnunt created in which to carry profits et a capital nature.
Net Profit.
STAL
This brings me to the last item, viz., profit and loss account. The accounts show à net profit for the year, after déchuċting all charges and expenses and providing for in come lat, of £0,051,660; an increase of £143,788.
Investments at bost de under ist (1) shares lit pausidiary companiet List your we varried forward £17,807.025, (2) shares and bonds £1,748,703. To this must be added. in associated companies £4,082,003, the profits for the your, £8,801,500, and (3) other investments £15,852, less the dividend on the 5 per cent. which last year was shown se Preference shares of £225,000, en parately, making a total of the new 6 per cent, Second Prefer. £21,074,881, shows an increase over enee shares, which for the eleven Inst year of £208,977, and is the months to September 30, 1930, largest item on the assets side.
athounted to £330,000, and the four This increnes in accounted for by interim dividend, paid on the Or the increne of your investimente dinary shates for the year, amount in associated companies and othering to £3,020,049, leaving a dis- investments respectively. The act posalile balance of £3,708,374, out ual value of your proportion off, of which the directors recomiend the net tangible assets of these the distribution of a final dividend subsidiary and associated coth free of British, income tax) of Is. panies considerably exceeds the figure at which the investments are cfrried in the booki of your com- | La forward; pany.
Loans to and current accounts with your (1) subsidiary companies (less provision for, doubtful e counts) £4,044,293, show an in- créée of £1,840,337, and (2) sociated companies (less provision for doubtful accounts) £2,544,208, show in decrease of £084,183. The Cecronse in Janne And Current he counts with associted companies in accounted for by the transfer of A current account from an associat- ed company to heidiary com pany. The combined loans and current ecounts with subsidiary and associated companies show an incremes of £658,134. This increase in due to further francing of the businesses of our adbsidiary and associated companies.
Stocks of Leal,
Bd. pr share, amounting to £1,965,- 230, leaving £1,800,144 to be carri
Fast Year's Business,
able to tell you that the company's When we metast year I was business for the firit three months of the year now under review con- tinued to be satifactory, but I re Bret to say that the business for the Inst six motahs has shown a considerable decline.
LIQUOR & TOBACCO
DUTIES.
NEW SCALES IN FORCE.
The following new scales of duties on liquor and tobacco are published in the Government Gazette:
European Liquor.
Per gallon. On all liqueurs, and on all champagnes and other sparkling wines 810.00 Of a brandy, gin, rum,
Whisky
other spirituotis liquorš....... $6.00 On all port, sherry and
And
madeira 84.00 On all other still winds 3.00 On best, porter; tider.
8 0.60
perry and stout...... On all intoxicating liquors nboỳ the strength of 18 degrees under proof, for every degree above such Strength, in addition to the appropriate duty is there 0.07
Dainese Liquor,
Per gallon.
On all Chinese type spirits containing not more than 25 per cent of alcohol weight.
For every one per cent. of additional alcohol strength by weight
Japaness Liquor.
1.20
8.0.05
Per gallon.
On all make containing not more than 2 pe cent of alcohol by weight
8 1.20
For every one per test. of additional alcoholic strength by weight... 8 0.05
Other Liquors.
Per gallen.
On....any intoxicating liquor which is not specifically mentioned or referred to in the foregoing
Cigars
Tobacco.
Cigarettes raumen Other manufactured to, bacco, including muff and cigar cuttings.
..
COAL
KAIPING
FOR ALL PURPOSES
HOME, FACTORY
AND BUNKERS
POWER
ROUSE,
TUGS &
LOCOS
-THE KAILAN MINING ADMINISTRATION,
Fend Offee-TIENTSIN.
DODWELL & CO., LTD. Agents, Hong Kong.
Gold Bar
BARTLETT PEARS
this and now the Pear
Per lb. $1.60 9 6.75
$ 0.75
should realize that, in all probabil- Ity, a reduced fina dividend for the current year is inevitable.
Troubles Only Temporary,
I am afraid I have painted, n. dark picture to you, but I feel that our troubles are only tempore ary, and that when this wave, of As you know, trade conditions depression and unemployment has all over the world are in a very raased, the profite of the company
Your company's busi-
in futuro years will not only reach, bad. way. 108, is world-wide, and, in addi-but exceed, the figure which they tion to the difficulties which have reached last year. arisen owing to the fall in the pries
.....
Your directors very seriously
of commodities, and to the unpreconaldered the question of whether cedented wave of unemployment, they were justified in recommend- ing a final dividend of 1s. 8d. per which naturally not only cause a reduction in the consumption of share, but their view was that this the company's goods, but is also was not the time to reduce the responsible for people purchasing dividend, if the earnings were cheaper grades of cigarettes and sufficient to justify it, merely be cause the world in generalis go- Stock of teaf, manufactured tobacco, your company has also goods and materials at cost or un-suffered in many territories from ing through a period of distress
local troubles. -
which is unparalleled in the his-- der, now stand. at £8.117,948, or 5
In India we have been seriously tory of our time.. decrédeo of £001,334. This is part- ly accounted for by n decrease in bampered by a boycott. The boy- stocks and partly by a decrease in, I am glad to say, is weaken
ing, but conditions are still far the value of leaf tobacco, Sundry frora normal, owing to the fail in debtors, less provision for doubtful commodity prices. debts £3,088,775, shows an increase of £1,236,040, this increase in duin- ly due to the item of short torin de- posits, £1,000,000.
Cash at bankers, in transit and at enll, 24,470,773, as compared with £1,172,188 under this heading last year, shows an increase of £1,370,555. This crense, and the increase of £1,230,040 in sundry debtors, is mainly accounted for by the unused proceeds of the is sue of 0,000,000 8 per Cont. Pre ference shares, issued in October,
1929.
.....
Position in China.
in
The insettled conditions China, which, have been going on since 1912 were particularly virul- ent in the latter part of our last year, but I am glad to say that the political situation in China is steadily getting on to a much soun. der basis..
Economic conditions, however, due to the value of silver, and to the fall in commodity prices, are still far from satisfactory.
The heavy fall in the value of silver further militates against the China, but also in all countries company's operations not only in hose currency is based on a silver
standard.
At the time this issue was made good and was expanding, and if the company's general business was those conditons had continued the company would hire required this further capital. Unfortunately, owing to the world slump, we have been unable to use the money in polisy of the the company's business, add it bag been impossible, to use it outbide the business at remunerative rates.
Capital Poaltion.
season never ends
Any time in the year-any day, in fact
you can serve delicious pears—ripe, mellow and sweet-if you have yout gro- cer keep you supplied with GOLD BAR Canned Pears.
Ideal for breakfast delicious as a salad -tempting as a simple dessert! And you couldn't serve finer pears if you selected and picked them right off the tree your Jelf.
This same year-round convenience and delightful delicacy applies to every other GOLD BAR Canned Fruit, Vegetable or Food Specialty.
LANE, CRAWFORD, LTD.
GROCERY DEPT.
I now beg formally to move the adoption of the report and balance- sheet, including the payment January 19, of a firtal dividend of COMPANY MEETINGS
on
I. Bd. per share, free of British The directors have income-tax. declared for the year, 1030-31 an interim dividend of 10d, per share. free of British income-tax, also payable on the January 19,
HONG KONG ELECTRIC CO'S DIVIDEND.
Mr. 8. J. Gilchrest (one of the deputy chairmen) seconded the re- At the ordinary yearly meeting solution, which was unanimously to be held on Wednesday, March 18 Adopted.
at 11 .m. the Directors will sub On the motion of Mr. J W.ject to audit, recommend that the New, stendid u Mr. J. A. Paule- Lalance avaiable for distribution thorpe, the retiring directors (Sir be disposed of as follows: Hugo Cunliffe-Owen, Bt, Messrs,
To pay a dividend of John Armstrong Anderson, Harold
$2.50 per share ou Robert Gough, James Daniel Gi
450,000 shares. Ham, Robert Campbell Harrison, Kenelm, Stanley Smith. Thomas place to meervo Field Winmill-and Mr. D. L. Mel-To carry, forward. 10.
next account ville) were re-elected.
to the peerage.
A voto of thanks way accorded to the chairman, directors and
Extraordinary Meeting.
At an
Te
KOWLOON. GODOWNS.
DIVIDEND 808; BONUS 83.
Subject to nudis, the Hong Kong &. Kowloon Whard & Godown Co., Ltd. report that the balance at
Profit and Loss Account for the ar ended December 31, 1930, is 3083,384,52, which together with 8370,119.77 brought formard from the previous your inukes a todal of; $1,035,504.20 available, for appro priation.
The Dircetone will, at the ep- proaching meeting of shareholders, ,125,000.00 1 recommend the following distribu-
500,000.00 | tiun time
142,335.82
$1,707,335.82
GREEN ISLAND CEMENT COMPANY.
PROPOSED DIVIDENDS.
Subject to audit, the Directors of the Green Island Cement Com piny, Ltd., will at the forthcom in meeting of shareholders to be held on Wednesday, March 18 recommend the following aloca- tion of profits.
Bir William Plender. B was Board' Dividend Polity, reappointed auditor of the com- As I think you know, the pany, and a resolution was passed directors has cigratulating him on the honour always been to maintain the divi-Tecently conferred upon him by His dends on a regular basis and to Majesty the King in elevating him keep the value of the barse as stable as possible. This policy your directors feel convinced, it Turning to the liabilities side of the right policy, more especially staff for their efficient management.
of the affairs of the company dur the balance-sheet, the issued capital. when practically all the sharehold of 4,500,000 Preference shares re- ers are people who have investeding the past year."." mains the same; during the year their money with the view of get the authorized 0,000,000 8 per Cont. ting regular dividends, and, wher
extraordinary general Second Preference shares were is necessary, of hoing able to sell. sued for cual, and the issue of their shares at a reasonable price meeting which followed; resolutions were agreed to making alterations I regret to any that to-day the Ordinary shares is increased from 23,574,030 to 23,582,701, an addi-binck spots very much oxceed the in the articles of association and tion of 8,725 shares. Of these, 8,500 good spots, and, therefore, your for ouverting the company's issued were issued to certain directors, directors feel that they oinnot let shares into stock. Upon converT under a resolution passed at n you go away from, this meeting sion every share hold at the data of conversion would be represented meeting hold on June 21 1028 without a word of warning as to
by £1 stock. and the stock would Prior to our last bonus issue; an the dividends which may be pay
be transferable in multiples of £1, Arnerican holder of share warrants able in respect of the current year. to boartr lost his share warrants Just how much our earnings muy It would not be necessary for shareholders to exchange their pre- and instituted proceedings in New or may not suffer during the ro York against the company for the mainder of the current yeny it isn't share certificates for stock oer issue to him of new share war impossible to estimato, and there- tificates as the Committee of the ondheimrudent to Stock Exchange, had consented to
treat the prUŠENIE. IMAT prophesy now how much, in the absence of a great improvement in as good delivery for stocks, The world conditions, our final divi- same romirk applied to share war- deh may have to be reduced, but ants to bearer Ordinary regis we consider that our shareholders tered stock could be converted into
(Continued on next Column.)Derer stock, and vice verse,
promised on terms, one of which was that the company should not issue new share warrants and an olhor that the holder should get the rights to which ho mas entitled under our last bonus issue.
pay a dividend of 30 cents per share on the old shares 8120,000.00 To pay a dividend of 4 cente per share on the now shares. To write off obsolete ma-
chitiery Stores
To place to General Ro
10,000.00
Bervo
20,000.00 100,000.00
'credit of next year's
account
To pay a dividend of
36 per share 8 480,000,00 To pay a bonus of 83
per seguir, 240,000,00 To carry forward
Total
315,504.27
$1,035,504,29
MENINGITIS IN CHEKIANG. 610 DIE IN TERRIBLE EPIDEMIC.
According to reports received from various districts in Chekiang, the opidemic of spinal meningins, which has raged for some ti the western part of the fringe, imb spreading to the east In the city of Haining 612 cases were reported of which 610 proved fatal. The Provincial Department of Civil Affairs, in response to urg. ent calls for help from various quarters, has despatched delegates. to the afflicted districts to render assistance
In this connection, it is learnt that Dr. J. Heng Liu, head of the
Health Ruragg of thechkimiskunnal Interior, has recommended to the 88,421.70 Chekiang Provincial Government certain preventive and relief $344,421.76 masures, which the latter.. has
decided to put into fóre.