HONG KONG DAILY PRESS, TUESDAY, MARCH 21, 1933.
HONGKONG AND SHANGHAI TOCH AND Y's MEN's
HOTELS, LTD.
SUBSTANTIAL DECREASE IN PROFITS
FOR THE YEAR
FAILURE TO TENDER 'BUS SERVICES EXPLAINED
The annual geüoral meeting of the Hongkong and Shanghai Hotels, Ltd., was held at Exchange Building yesterday, Mr. J. Scott Harsten presided. In the course of his repert and statement of accounts for the year, Mr. Harston, said that the Company had suffered a loss in profits of over six lakh; during the past year, which he attributed to the Sino-Japanese troubles in Shang- hai, and to the decrease in tour et traffic.
Particulars as to the basis upon which the Company submitted its tender to the Goverment for the licence to operate the Road Passenger Transport Services, acd of its failure were also fully dealt with by the Chairman.
DECREASE IN TOURIST TRAFFIC ·
Those present at the meeting "Dividend on Investments" during were:-Mr. J. Scott Harston the year under review has decreas (Chairman), Sir Robert Ho Tung, 1 Mr. E. M. Raymond, Mr. Allened to the extent of some 823,000:00, Cameron, Hon. Mr. W. H. Ball This item represents the dividend
CLUB
Joint Meeting Of Two
Institutions
A suggestion made some weeks ago by the Rev, Ronald Hall, Bishop of the Diocese, at a meet- ing of the newly formed "Too H" Group, that the work which the Group is undertaking locally should become more widely known, result ed in a stop being made in this direction when on Saturday even, ing a member of Toc H" mem bers met and dined with local members of the Y's Men's " Club to exchange views on the good work being done by both institu tious. The meeting took place at St. John's Hall, Bonham Road, the dinner provided being Chinese and very much enjoyed by all. After dinner those attending sat around to listen to interesting_talks by the Bishop of Victoria, Dr. S. W. Phoon and Mr. Chan, of the "Y's Men's" Club, and Messrs. Dunkaly and Gould, "Toc " members. The discourses and views exchang ed wore extremely illuminating and interesting, and, as one of gucata stated afterwards, it is a pleasure helpful institutions in our midst to realize that there are two such
doing useful and necessary work for the good of the community."
the good initial work put in by Toe "locally is growing, and (directors), Mr. J. Taggart received from The Grand Hotel des Baby" Ford and Harry Chapple, (Managing Director), Mr. P. H. Suckling (general manager, Mr. Wagons-Lits, Ltd., Peiping, and the as well as the fow who were mem- FC Barry (secretary), Messrs decrease referred to shews the deers, of the institution before the N. V. A. Croucher, J. F. Wright. I pressed trading conditions also ex- jnr.. A. M. L. Soares, F. Austin, A. McKirdie, J. M. de Figuereida, J. M. Alves, Wong Man Ching. A W. Smith, W. H. Brown, B. Wong Tape, Chan Shio Ming. Wing Hay Choy, A. Keith, A. G. Piovenelli, O. F. Ribeiro, A. C. Blake, J. R. Sherry, J. Gould, '
perienced by that subsidiary, due mainly to the severe drop in the volume of tourist traffic to that City.
Shops and Offices.
Income from Kents of Shops and
A. M. d'Eca. G. A. Harriman, A., Offices also appears at a figure fal
J. Edgar, P. C. Potts and Mrsling short by $12,500-of the sum M. M. Fullerton (shareholders).
THE CHAIRMAN'S SPEECH
Eu moving for the adoption of the report and statement of counts, the Chairman said:----
Gentlemen,
L
St. Pauls Girl's College Annual Prize Giving
MRS. BORRETT'S INSPIRING SPEECH ON LOYALTY
TWO WELL-ACTED PLAYS
There was a very big gathering at St. Pauls Girl's College yesterday for the 18th anniversary celebrations and annual prize giving. Mrs. Borrett wife of the Gozeral Officer Commanding, presented the prizes and gave an excellent address on the subject of loyalty. She stressed the fact that the girls owed loyalty to those who had been loyal to them, their school teachers, and to the Ideals which these teachers had tried to instil in them.
In a well told story ahe illustrated a factor that is often for gotten when loyalty is mentioned, that just as it takes two to make a quarrell, true loyalty cannot be given by one party alone.. A speech like Mrs. Borrett's will do far more to inspire the spirit of loyalty in the girls of St. Paul's College than any number of remarks about the duty which is owed to one's school. She showed them that loyalty and service are lovely and gracious, not a drab duty from which one escapes. one can.
Two well acted plays were given by the pupils one in Chinese, the other in English.
Among those present were Lady Pollock, the Bishop of Victoria, fr. N. L. Smith, Director of Education, Mr. O. E Brawn Inspector of Schools, the Hon. Dr. and Mrs. R. H. Kotewall and Mrs. Alabaster.
local group was formed, is reflect- ed in the fact that regular weekly meetings are now held, and that a centre of the town has been allot-school song sung in Chinese, after meeting place, or chib ̈rooïn, in the The proceedings opened with the ted the movement by a kindly which followed the two plays both benefactor. The Rev. Ronald Hall, is Chaplain to the local branch. of which were very well acted, and a pretty dance by four of the
pils.
HEADMISTRESS REPORT
Mortgages.
bravery by Chue San Kam. During make special mention of an act of
one of our outings at Shatin a boat in which some of the girls were rowing was caught in a swift cur- rent-noticing their difficulty this Mrs. Woo the headmistress read girl swam a distance of about 100 obtained from that source during I have previously referred, amount- Mortgage indebtedness, to which
her report as follows.
yards out to them, get into the the previous year. This has been ed at the end of the year to
boat and brought it to shore. It is brought about by certain remissions 81,095,070,48 only.
Welcome to Mrs. Borrett, the just such acts as these that justify It is satisfac of rentals made to the tenants of tory to note also that in comparison Bishop and all the Guests. shops in the Astor House Hotel with the similar liability existing
the special privilege we feel in the building during the period of the at the close of the previous financi- the youngest of the Church Schools The girls only started basket ball Since St. Paul's Girls' College is possession of our Swimming Pool Sino-Japanese hostilities in theal year, a reduction of $300,000,00
has been effected in the Company's under the Bishop's care in this part this year but have been fortunate indebtedness to Trade Creditors. I of the Diocese we claim his special in winning 6 out of 10 matches. would further state that the Com-care and guidance and thank him pany's forward commitments have during the past year been very very specially for his presence withdred and two girls have made open much reduced. Our forward com us here to-day. mitments at this date stand at a figure representing the minimum cient operation of the Company Establishments.
ed with the fact that competition Maintenance and Repairs.
in increased beverity has been en- countered both hore and in Shang- hai.
The expenditure on "Mainten- ance and Repairs" totalling $159,337.79 represents an increaser outgoing last year of some 821,000.00 over the previous year's expendi
and
on
Garages and Bus Services.
Changes on: Stat.
A
The religious life of the school has seen marked results-Ono hun-
profession of their willingness to reasons for this openly before the.. Follow Christ and have given their
four confirmed last year. Extra to the regular school curriculum are the organisations of the M.C.L. Girl Guides, the Y.M.C.A., Wah Kwong Club, all of which act ne stimulus to service. The M.C.L. Sale in October last opened by Mrs. Southorn bought in $3,250 part of the proceeds are used in sup- porting a Free School in Causeway Bay which has been undertaken by the school for the past 13 years.
The Allumni Association which has
a membership of 65 meets monthly Some of these girls are at pre- sont taking a Teacher's Course 11 manual training. It is hoped under: their auspices to, open a Free Night School for adulta. Under the joint planning of the Allumnai and Wuh Kwong Club an Observation_Trip three girls took advantage of it at to Canton was organized-Forty
a very small cost due to the kind- ness of Mr. Chow Cheung and Mr. Trevor manager of the Traffic Leps.. of the C.K.K.
Thanks to Old Girls,
neighbourhood of that Hotel. AC-
Diverting your attention to the contra side of the Profit and Loss The Report and Accounts before Account, I would mention that the Taxes and you for review to-day cover a period. Licences" embodies an increase of
item "Rent, Rates, during which your Company's unexpenditure under that heading dertaking has been operated under last year of some $14,000.00. This
The outstanding event of the past very adverse conditions, and it regretted that the Accounts reveal has been occasioned by reason of level possible consistent with eff. year was the Thanksgiving Social school. Twelve were baptized and
increases in ratas assessments and
held in March when His Excellency in consequence, a comparatively
licence duties imposed in respect of
the Governor and Lady Peel hon poor trading result. In the Prost certain of our Establishments in
oured us with a visit-This Day and Loss Account you will observe Hong Kong and Shanghai. In- The Garage Department has, in marked an important mile stone in the item "Balance of Working Accreased expenditure under the respect of its working during the our history seeing that it com- count" brought to credit at the heading of Insurances" amount-past year, contributed profits to the memorated the fact that our School sum of $1,166,270.53, whereas in the ing approximately to 832,000.00 was General Accounts to an extent building was wholly cleared of Accounts for the preceding year we also borne last year. This increase which, in view of the unfavourable debt-a cause of very great satisfac- were able to bring to credit under is entirely represented by the pre
times experienced. can be regarded tion to us all: For this we owe a similar hending the sum of mium in respect of the War Risk with satisfaction. With reference deep debt of gratitude to Dr. Kote 81,750,383.45. This decrease of an Insurance covering the Shanghai to one of its main activities, name wall as Chairman of the Building proximately $600,000.--is attribut properties, which was effected for ly the operation of certain Bus Committee and we still further ap able generally to the poor business the month of February, 1932, and Services, the favourable trend in-preciate his services us vice-Chair- experienced owing to the depressed of which mention was made by your dicated in regard to certain opera- man of the College Council, trading conditions which have ex-Chairman at the last Annual Gen-tive costs at the commencement of history of the 17 years work of the isted throughout the year, combin-eral Meeting.
the year did not continue. On the school has been prepared and a contrary, further increases in the now ready for distribution and sale price of gasoline, (one of the so I will confine my remarks sole heaviest prime cost Factors of ly to last year's report. In 1932 operation) were experienced the highest number on the roll was
The buses on the Repulse Bay 315-25 girls more than The Shanghai Trouble.
the pre traffic last year of the same volume and most of them came from Ameri- University Routes carried vious year. There were 28 hoarders The Sino-Japanese clash during
aa that obtaining during previous en, Japha, Singapore and China. the Spring of last year, and its
ture. In addition to routine re- aftermath, everely handicapped the pairs and renewals, a programme appreciably on the Queen's Road years, but traffic receipts dropped Establish of further modernization work in Route. The falling off in revenue Company's Shanghai ments, more particularly in the case connection with certain accommoda- of the Astor House Hotel, owing to tion and equipment was carried out traceable to the heavy exodus dur
the last mentioned route is Six of the Staff left us during the year. Mrs. Tro, Mr. Poon. the location of that Establishment during the year, and, although it in an area which became the venue may be considered that part of this ing, the Spring of last year of re- Mrs. Le Brun, Miss Sittig, Miss of some of the more serious dis expenditure could legitimately have sidents of districts tapped by this Choy Wing Kow, and Miss Kwok
...I wish to thank the old girls who turbances. Unavoidable increases been capitalised, it has been deem Bus route, and to a
Service to localities situate off the Yiking. We are glad to welcome
so readily respond to any call for in expenditure had to be borne ed expedient to meet out of revenue diminution in passenger traffic to the Staff. Miss Wong Yuk Chan Miss Doris Kotowall and Mrs. Ho
considerable the following new members on to
Basistance in the school, especially during the height of the disturbance practically the whole of the cost and from the West Point district Miss Hung Man Tsing-Miss LoLeung Sau Yung who have this year in Shanghai in the early part of of the maintenance and modernizu
Wai Ching Miss Li Tak Wah-Miss several times filled gaps as the Staff the year, and in respect of the tion work undertaken. You will
Offsetting, in a measure, the Tong Suk Yuen-Miss Eva Tom and
of the school. major portion of the remainder of observe in this nonnection that the adverse points I hare enumerated, Miss Kwok Sheung Man. To each the year, business there remained Repairs and Renewals Account" at a very low level, which led to in the Balance Sheet has been de- an important saving in fuel costs member of the Staff, I should like a greatly diminished income at the ploted by an appropriation for the has been effected in connection with to extend my warmest thanks for the running of,, eight buses which their support during the year. I Hotele. In consequence, the work-year of 86,420.48 only.
(in ragard to the fuel used by should like especially to mention ing results shewn in respect of the I would here draw your attention them) have, by the installation how greatly have appreciated Shanghai Establishments for last to the fact that in addition to therein during the year of Crossley Miss Kotewall's work during the year. failed to produce profits for the full programme of maintenance Diesel type engines, been enabled past year--Her splendid work har the Company's general financial ac and renewal work carried out dar to run on oil fuel.
been honoured by the Council in counts on the scale previously ex-ing the year, further depreciation
The vehicles comprising the Bue appointing her vice-Principal which perienced.
on the Company's fixed and float Fleet have been well maintained entails the supervision of the ing assets on an adequate scale has out of revenue, and, after provision studies of the College. The Report again been provided for prior to for all applicable operative and of the Inspector of Education, has In Hong Kong, the volume of computation of the nett figure of overhead charges, the working al been more satisfactory this year patronage from tratsient tourist profit set forth for approportion the bus routes resulted in a profit the school has pulled up again in traffic, (a class of patronage which met in which respect you will ob to the Company, but one of reduced the weaker subjects. Forty-eight had fallen off considerably during serve that the sum of 8452,710.20 is amount when compared with that girls graduated from the school this to Junior Middle School.
dabited in the Profit and Loss Ac contributed in previous years." the previous two years) decreased count.
yenr. They are the last to gri further during the past year, due
Bus Tenders.
duate under the Former system. to the continuation of the severe You will doubtless, note with In view of the prominence the quirements of the Government in
Next year we follow the new re depression in Europe and the Un-satisfaction that the charges incur question of the Bus Services for Chinese-in-the-Junior Middle School Ted States of America. Further rod for Bank Interest last year Hong Kong and the Mainland has and in Senior Middle School we more, in connection with the patron- only amounted to 804,997.63. This recently received, I feel that hope in time to raise the standard Church workers age of those transient guests who is the lowest level reached in re Shareholders will allow me a few to Matriculatio, gold school pit 2 Boholarships openly competed were received at our Establishments spéct of this charge for many minutes within which to present is presented to, vach girl, who has for a the beginning of the year, during the year, it has been ap years pasta. position rendered some particulars as to the basis attended the school from Kinder parent that a chuiderably reduced possible by the substantial, decrease upon which 16 Company gubetted them for die Stanged. Finally may I add a word as “spending power, exfated in compari. in the Company's"mortgage indebt its a tender ta the
son with what had hitherto been edness cffected by the receipt in ment; for
Governm proud to announce the jig thai in alio inveripeda the licence to
O have this year qualified far this through this past year. To Mrs. Baymond Smith who helped to pro- the case. Although, therefore, in July last of the monies in respect ate the Road Passenger Trans
-Sport.
duce the English play and Misa | the circumstances, a fairly satis of the issue of New Capital.
port Services as on and from
Kotowall the Chinese play To Dr. factory ratio of occupancy at our
Turning to the Balance Sheet, I the 11th June next on, which date
Yip Tai Ching and Dr. Arthur Woo Hotels in Hong Kong has been maintained, nevertheless, in order submit that with regard to items our prosent permits, (with the ex- to secure this, it has been necessary appearing on the Assets side, no coption of that for the inton Hotel Domestic Science and two classes who have acted as honorary physi to accept rates on a lower scale than comment is necessary. With refera service between the Hongkong and of both Chinese and English cook cians to the school and have given Repulse Bay Hotels), terminating have.beon organised. We are free vaccination and medical exami- ence to the contre side Wereof, the Government Notification in proud to poesces our own Swimming nations to the entire school. To a that which formerly prevailed. figure of Jasued Ospitaletilere, sik viting tenders, issued in September Pool in which hundreds of our girls host of others too numerous to men-
Dealing further with the Profit pearing indicates Heinier last, contained, in the opinion of have learned to swim-many of tion by name who have given gener and Loss Account, comparison with acted by the allotment the previous year's accounts reveals 193,587 Nów chores during the year. your Board of Directors, onerous whom has won prizes in the Swim- ously of their uns and suvice. ming Conteste I should like to sta (Contimed-on "Page"11)- that the income derived from a Canlimited on näet columna
Decrease in Tourist Traffic.
at night.
2.
(Dentinued`un Page 13
The school Inys great stress on
The school has at its disposal 32.
should like Scholarships and specially to thank those who make this possible. Mrs. Proctor Reily, Madam Whitney Hoff, Messrs. Lee Hysan, Lam Woo, Mok Kon Sung, Li The Fong, Fung Ping Shan, Kan Tak Choy, Mok Ching Kong, Taag Euk Tong, Joe Shoong, and Mrs. Wong Kut Yew,
These scholarsshipg" are awarded as follows:--
1. To those gaining highest marks on graduation from Primary
Of those scholarship winners, 6. have passed on their advantage Eome more needy pupil,
2 Scholarships for children of
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New stock of Gaberdine, Mohair, Cashmere Drill and Linen now showing. Inspection Invited.
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Wm.
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