New
Ties
The
purchase of а
good
economy.
tie is always an These Ties-hand made and scientifically cut on true bias- can be relied upon to give long and satisfactory service.
MACKINTOSH'S
Removal Sale Now In Proress. PIONEER
In fact
as well as name,
The First Silk Store in Hong Kong The Largest Stock of Silka The Lowest Prices always
The Most Popular Store.
"Courtesy and Service" is our slogan.
THE PIONEER SILK STORE CHINA BUILDING.
QUEEN'S ROAD, Cantral.
CALIFORNIA PACKING CORPORATION CALIF., U.S.A
GREEN GAGE PLUMS
"Green Gage Plums
Dismiss all glums."
YELLOW CLING DEACHES
Yellow Cling Peaches Are within your reaches.".
Obtainable at All Compradore Shops, Sole Agents: KUNG SHEUNG CO.
THONG KONG.
CHINA BUILDING
PHONE 23268.
They Come Back Clean F
SPRING-TIME
WILL SOON BE HERE. DIRT
GREASE AND STAINS CANNOT BE REMOVED
BY VACUUM CLEANING OUR SPECIAL SHAMPOO PROCESS WILL CLEAN YOUR CARPETS AND RUGS AND GIVE THEM A NEW LEASE OF LIFE. RING UP NOW.
THE STEAM LAUNDRY CO. Sanitary Laundryman, Dyers and Dry Cleaners.
179 HEAD OFFICE & WORKS Mongkok, fel. #7032.
“KOWLOON. BOTEL DEĻOT;. Tel.:$8645,"
TONG KONG DEPOTT'80, queen's Road Central,” Zwl; 21379. REAK HOTEL DEPOT :. T», 20071, | Ast
*PERINSULA HOTEL (Visión (njy),
HONG KONG HOTEL Visitors only)
GLOUCESTER MUILLJINO, (Basilasin only). 21, 2009,
SPECIAL VALETERIA SERVICE
No. 1, PENINGULIK HOTEL ARCADE, RAL SP001, *
No. 936,; Nathan” Rosɖ'Kowloon. Tel. 58998, <["4 No,'60, 'Queen's Road, Central, Ty), $1579, 20
HONG KONG DAILY PRESS, SATURDAY, FEBRUARY 25, 1933.
CHINA PROVIDENT LOAN & MORTGAGE CO., LTD.
SUBSTANTIAL INCREASE IN PROFITS DURING 1932
CHAIRMAN'S REFERENCE TO SHORTAGE OF GODOWNS
"It is with much pleasure that your Directors are able to place before you a state of accounts which show not only a very sub- stantial increase in the net profit resulting from the Company's operations during the past year, but also a marked improvement in the general position of the Company," said Mr. C. A. da Roza, the Chairman, at the annual general meeting of the China Provi- dent Loan and Mortgage Co., Ltd., which was held at Exchange: Building yesterday.
Mr. Rozo also referred to the now motor transport service, and said that the sum outstanding on loans had been reduced during the year by $182,000.
THE CHAIRMAN'S SPEECH
Gentlemen,
It is with much pleasure that your Directors are able to place before you a Statement of Accounts which show not only a very sub- stantial increase in the Net Profit resulting from the Company's operations during the past year, but also a marked improvement in the general position of the Com- pany as revealed by the Balance Sheet before you.
Tho
profit earned, namely 6203,845,32 some 120 per cent better than that recorded for the previous year, and the increase is mainly attributable to a greater volume of cargo received for storage-with improved clearances.
INGYE
Godown Space Taxed.
For several months last year, our regular Godown space was so severe ly taxed by tha demand for space, that it became necessary to acquire considerable additional accommoda- tion on a temporary basis. This was done, and we have since been able to release the Godowns so ac- quired, with the exception of one building, which we still retain and which is fully occupied.
with
The severe competition which we have had to contend, was undoubtedly occasioned by the de.. sire of the many private owners of Godowns to obtain some additional revenus to meet the cast of main taining their buildings.
As intimated by me at our last Meeting, the Private Bonded Go downs in Hong Kong were discon tinued at the end of June last, and the contents of the majority were transferred into our General Bond, ed Warehouses at West Point
Arrangements made with etorers have, we believe, proved satisfac tury to them and the change over hus occasioned a minimum of in- convenience to those concerned:
The Balance Sheet,
Your Board was influenced in its decision by the constant needs of the Company itself in connection with its Shipping Department, and also by the lack of a properly or ganised, fully secured and efficient ly maintained public Mator Trane port Service for the conveyanos of goods in this Colony.
As this Service commenced operu tions so late in the year, it is too soon to analyse the results recorded to date, except to state that the demand and the financial results have come up to expectations.
| The sum outstanding on Loans has been reduced by the important sum of $152,000.00 during the year, while new business has been success. fully negotiated against security of goods stored with the Company. A small amount of $10,000.00 was re- maining.so employed at the close of the year.
וי.
Sundry Debtora account at $116,933.36 is rather higher than usual this year, owing to the con. siderably greater volume of business transacted--but collections since the date of the accounts have reduced this i
|
figure to approximately $34,000.00 which is lower than
usual..
The Cash position, since further increased, is satisfactory, and in adequate to meet the Dividend re quirements which I shall shortly propose to you.
1
Prospects.
As regards the prospects for the current year, it is unfortunate that world conditions in general, and the state of affairs in the. Far East in particular, make any forecast as ta local imports of staple products dangerous.
It is safe to say, however, that our Godowns continue to enjoy the support of a very large number of merchants, and that we confidently anticipate receiving our share of any cargoes which may offer.
GENERAL ARAKI SPEAKS OUT
The Army In High Spirits
DEFIANCE TO THE LEAGUE
Tokyo. Goneral Araki, Minister for War, in a Press interview, de- clares there can be no question of accepting the League recommenda- tions such as are reported; and that the only course open to Japan is to withdraw from the League of Nations. The reported draft re- commendations, the Minister says, deny the independence of Manchu- kuo, denounce Japan's military ac- tion as exceeding the limits of legi- timate salf-defence, and demand the withdrawal of the Japanese troops into the South Manchuria Railway zone. In short, they are
virtual reproduction of the Lytton Report. How in the world can Japan meekly accept such re- commendation
Acceptance would mean Japan's cancellation of her recognition of Manchukyo and her abandonment of Manchuria. The nation would never allow the Government to do anything of the sort. If the draft recommendations are really as re- ported, the only course open to Ja- pan is to withdraw from the Lea- gue without hesitation, with a de- claration of her point of view to the world.
.
1
No Fear of World War.
In the War Minister's opinion, the apprehension that seems to be entertained, by some people is un- founded. Japan's secession from the League would not immediately, precipitate a world war, or serious-
Those who
affect the country's economic in- terests. Seeing that all Western euntries are in the slough of de- pression, none of them would be foolish enough to staks its national destiny on a war against Japan for the sake of an organ like the League of Nations. fear Japan's-isolation internation- ally may be reminded that there can be no greater isolation "than at present. It may be that Japan will somewhat suffer economically in the beginning, but there will be no permanent injury to her econs. mic interests.
If Japan does not cover connec tion with the League in these cir. cumstances, General Araki further remarked, it would produce very bad effects on Manchukuo, and Japan's war expenditure would be kept continuously at a high leval. This would in the end prove more disastrous to Japan's financial in terests than the effects of with- I now beg to propose that the drawal. Everybody is tired of the Report and Accounts for the year prolonged gloomy atmosphere of ended December 31 1932, hs pre- uncertainty; everybody desires a sented to you, be adopted; that a clarified atmosphere, if after a tor Dividend of 80.24 per share in re-rential cloudburst. spect of the Fully Paid-up shares, and of 80.12: per share in respect of the Partly Paid shares absorbing $176,873.40 be paid out of the Pro- fits of the Company.
Turning to the Balance Sheet, Gentlemen, you will note that our liabilities remain practically un-I also propose that the balance small of 8125,106.36 be carried forward changed--thera being but a adjustment in General Reserve Ac to 1933 account count.
If a shareholder will be good enough to second these proposals, I shall be pleased to answer, to the best of my ability, any questions having reference to the Report and Accounts, which you may wish to ask.
3.
This represents transfers to and from the Specific Reservos previous ly created to meet Loan deficits, the items appearing now on the Bebit side of that account being the amount require to equalise the balance due to the Company on two- The Chairman then proposed the Loan accounts, after the relative adoption of the report and state. securities had been disposed of ment of accounts, and on the se The addition to our Assets, under conding of Mr. F. L. Silva, is was the heading of Property repre- passed unanimously. sents the amount paid on account 1 of a new Godown which we have found it necessary to construct on vacant land at Kennedy Town, for the storage of special cargo. Y M. Mitchell, Sir Robert Ho Tung
This Godown has since been con- pleted, and is already in profitable occupation.
A New Line.
KĀ PAZ, k
T
建隙
Other Business.
On the proposal of Mr. A. H. Carroll and seconded by Mr. T
and Mr. Li Tse Fong were re-elect ed directora.
"Messrs. Linstead and Davis and Messrs. Percy Smith, Seth and Fleming were re-elected auditors on the motion of Mr. H. J. Figuerido and Mr. A. H Carroll
Towards the end of the year un- der review, your: Directors decided to embark upon a new line of busi- ness which has, of recent years, Those present at the meeting were becomes more alosely allied with Mr. C.-A.' da Roze (Chairman), our principal trade Godown Sir Robert Ho"Tung, Hob. Mr. G. operators; and you will no doubt P. Braga, Messrs. A. L. Alves, T. have seen ample evidence of this B. Wilson, S. M. Churn, P. M. departure on the streets of Hong Hodgson, N. Y. A. Croucher and Kong, in the form of Motor Trucks Li Tse Fong (Directors) D. L. bearing this Company's name. The King (secretary), F. L. Silva, A. selection of chassis of British manu H. Carroll, T. M. Mitchell, H. I. facture will, it is hoped, earn your Figuereido, M. White and J. Tam approval.
Hung (shareholders).
THE OCTOBER CLUB AT OXFORD'
PROCTORS AND EXCLUSION
TOWNSPEOPLE.
ཐཱ།
"Clean Up" in Jehol.
Referring to the question of Jehal, the War Minister says that it is a domestic matter of Manchu kuo, pure and simple, and Japan, as signatory of the Protocol with that State, cannot, either postpone or suspend operations. He puts special emphasis on the fact that the Japanese army is not a more machine; and declares that the tioops cannot be expected to do good work at the risk of their fives, should the country shape its course in a manner which destroys their martial spirit and enthu siasm. Just as iron must be struck. while it is hot, the army must be mored when its spirit is roused. Such being the case, there can be neither suspension nor postpone ment of the clean-up campaign in Jebol. The Minister expresses great indignation at the circulation of impossible rumours of its sus- pensions or postponement The disseminators of such canards re very reprehensible; und more re- prehensible still are those who at tempt to exploit such reports for speculative purposes or those who have do scruples about making political capital out of them,
When it is remembered that JÄ Dan's mistaken and retrogressive policy at the Londer Conference furnished one main cause of the present social unrest, the nation must show great endurance and patience in the last five minutes. Instead of adopting a vacillating attitude at the present critical juncture, the whole nation must Ormly join hands one with another and go fearlessly on along the only rond; the War Minister concludes
As a result, special precautions have been taken this term to keep
According to a report from Nan out intrudera..
An official of the club states to king published in yesterday's Oxford. The October Club, day that the proctors took the view
Chenpro the Film Consorship which was formed some time ago by that while townspeople were pro the municipalities of various p
Committee has sent a circular to ̈pro- Oxford undergraduates for the bably the best behaved section of vinces asking them to hotify cine- study of Communism, has received the audience, or indsed: of, any
an intimation from the proctors Oxford audience, their presence atas in their districte that hereafter. that they are considering the ad- the October Club might tend to the wonding this film has been viability of limiting membership give rise to disturbances, and pos-censored, permitted for public show. The club to members of the sibly, had done-en in the past. ing and granted a licence" ahall University
For this reason the authorities be inserted when a censored film is Last term the club was the scene were considering the advisability screened or when the new film is of several raids by hostile "under- of barring their attendance. The advertised. The Chinese report graduates and on one occasion the club of course, would be allowed adds that as "from March 1, the prossedlugs were. interrupted by a to invite outside speakers to ad- tilles in all foreign films shall be
gat..
dress the members
translated into Chinese.
ST. FRANCIS HOTEL. Moderate Monthly and Daily Rates.
A great variety of dishes served in dining room and restaurant 1st Floor, at ropylar prices. · Delikatessen a speciality. Watch for daily sug- gestions on our notice board at Hotel entrance.
Telophones:
Cables:
26634 & 20635. "FRANHO."
·Manager, J. C, E Rye.
AMRUTANJAN
The BEST INDIAN PAIN BALM
Head-ache
Lumbago
Neuralgia
Paralysis
Rheumatism AMRUTANJA Cough, Cold
Sciatica
Sprains
Best Indian
Pain Balm
Njan Depots OHSAY, MADRAS
Swellings
Bruises.
Sole Agents for China and the Far East: Messrs. AMRITLAL OJAH & Co., Ltd.
14, Queen's Road, Central. Hong Kong.
FREE SAMPLE COUPON Messrs. Amritlal Ojah & Co., Ltd. Asia Life Building.
Dear Sirs,
Please send melus a FREE sample AMRUTANJAN, five cents stamps are enclosed herewith for postage.
Name
Address
A Reflection of
of the quality of the
famous Kohinoor Diamond sis to be found among the silks and
satins at the
KOHINOOR
SILK STORE Proprietor
F. Rupehand CHINA BUILDING Tel. 25350
STARTS TO-DAY AT THE CENTRAL
Strange! Terrifying the story of the man who "hunted meh!
THE MOST DANGEROUS GAME
Levi tiket Aban rodenes *.
With JOEL MCCREA BAY WRAY LESUE BANKS ROBERT ARMSTRONG David C. Balvaich, Enet, Produit
RKO-RADIO Plaure
WING ON'S
SPECIAL
SALE
CLOSES TO-DAY
GRASP THIS
LAST
OPPORTUNITY
THE WING ON CO., LTD.
HONG KONG