Page
"
DIRECTORS' FEES
CRITICISED
SHAREBROKER'S COMMENTS AT ENGI NEERING & CONSTRUCTION CO.'S
MEETING
WHY PETITION FOR DIVIDEND FAILED
Mr. Joseph Gould, the well-known sharebroker, and a share. holder at the Hong Kong Engineering and Construction Com-** pany, Ltd, speaking during the annual meeting of the Company held yesterday, commented on the fact that although the company was not in a position to pay any dividend, the Directors' fees had been doubled for the year under review.
Mr. Gould's observations on this point drew a reply from the Chairman, the Hon. Mr. J. P. Braga, as well as from Mr. J. Scott Harston, one of the Directors of the Company. Mr. Scott. Harston t the course of his remarks observed that if sharehold ers thought the directors were being overpaid, he would gladly stand down, if shareholders would only say the word.
The Chairman's review of the Company's activities showed a healthy state of affairs although the actual profit for the year. was, comparatively speaking, inanitesimal.
The Hon. Mr. J. F. Braga, presided and supporting him were Messrs. J. Scott Hurston and Le Chung Shiu (Directors), B. Alves (Secretary), A. R, F. Ravan (General Works Manager) and M. H. Turner, of Messrs. Deacons (Legal Advisers).
The following shareholders were also present-lessrs. J. Could, M. A. Figueiredo, H. J. M. Figueiredo, M. II. Lo, Yeung. Yau, Flugh Brage, A. H. Basto, J. M. M. Alves, W. A. Zimmeru, Choa Pe Min, A. C. Greaves, J. M. N. da Silvn, K. Stuart Stith Home Ln, M.-K. Lo, A. M. Braga, Chan Kam Moon. A. A. Alves. H. R. Sequeira, J. M.. Braga, F. L. Silva and Miss M. C. Braga,
THE CHAIRMAN'S SPEECH
The Chairman said:-After allow ing for Managing Director's salary, Directors' and Auditors' fees, and taking into account Flank and other interest earned and, transfer fees received, the profit for the year aments to $3,258.03. This amount, together with the chrry-over from 1931 makes a total of 388,955.11, which your Directors recommend bely
year.
addition of $3,000 to the General Reserve arising out of the proceeds of sale during the past year of obsolete plant written off.
shares and 40,260
n
HONG KONG DAILY PRESS, THURSDAY, MAY 4, 1933
·KOWLOON-CÁNTON RAILWAY
TIME TABLE CHANGES ON
SATURDAY
The following alteration in the present timetable will come into operation on and after May e 1000, and until further notice:~~
The 1.20 p.m. from Kowloon will depart at 1.05 p.m.
The 9.05 p.m. from Kowloon Sundays only) is cancelled,
The 7.11 p.m. from Shum Chun will leave Shum Chun at 9. p.in.
Extra express week-end trains will run between Kowloon and Canton as under:
Saturdays Only. Kowloon dep 1:30 p.m. Canton
arr. 4:47 p... . Sundays Only. Canton dep, 6.14 p.m. Kowloon arr. 9.23 p.m.
temporary measure permissible under the Special Conditions of Sale of K.LL. 2837, and sooner or later, we shall have to look around for suitable land for the Company's
workshops and depot. There can be no two opinions, I think, that the insecurity of tenure of, lensed ground is not altogether satisfac tory, besides being costly with each removal. We must, therefore, anti cipate the time when the more economical course will be to pur chase the Company's own land for erecting its workshops and contin gent buildings necessary for the proper conduct of the Company's business.
Appeal to Shareholders,
In order to inspire constituents' confidence when tendering for con tracts which may involve more or less large sums of money, the policy of conserving the Company's re sources is one which the Directors consider should. commead itself to shareholders' approval. For this and the other reasons that I have just stated your Directors hopu that shareholders will not press their desire for the payment of a dividend out of the balance carried forward from the Company's pro-
fit.
Your Board is of the opinion that any step to force an issue on terests of the Company, this point is inimical to the best in
ask."
THE CHINESE DRAMA
¿'ontinned from Page 25
walk and was lying on the road- side and there was a huge army in the distance coming to capture the Infant Prince. Then the fa- maus General Chao Tzu Lung rode to look for her and the child and there beside an old wall behind the broken wall of a burned house, sat the mother clasping the child to her breast and weeping.
Chrio was on his knees before her in a moment.
you
you
THE HALLUMS CASE
Evidence by Launch Officer
ORDERS ABOUT USE OF
FIREARMS
Further evidence was taken by the Magistrate, Mr. E. I. Wynne Jones at Central Magistracy yes terday in the case in which Mr. M. W. Hallums of the Chinese Maritime Customs was charged with the manslaughter of a three-year old Chinese girl on board a trad ing junk outside Lyeemoon Pass.
"My child will live then since are here" cried Lady MI. Pity him, 0 General; protect him for he is the only son of his father's flesh and blood. Take him to his father and I can die con- Mr. J. A. Fraser, assistant At- teat." "It is my fault that you torney General, appeared for the have suffered" replied Chan. "But prosecution, and the defendant was it is useless to say more. I pray represented by Mr. M. A. Mackin- take my horse while I willey. Mr. F. G. Nigel, watched the walk beside and protect you till ease on behalf of the Chinese Mari- we get clear" She begged the time Customs. general to go his way with the child and do not trouble about dead child, told the Court that on Chau Ki, the mother, of the her. "I hear shouting" said Chao. the morning, of April 1, she was "The goldiers will be upon on board the trading juak in Poj again in a moment. Pray mount Tau Chau. quickly." "But really I cannot top of a hold outside her cabin, and She was sitting on the move" she said. "Do not let there her daughter was sitting on the be a double loss" And she held deck below. out the child toward him as she spoke.
While she was there
her
she suddenly heard the report of a gun, and then felt that she had "Take the child".cried abc. "His been hit in the left side below the life and safety are in your bands. arm. Witness went to her own To make the lang story short, she cabin to lie down, and did not put the child on the ground and know what had happened to jumped into the old well. And daughter. The shot came from the there she perished. The great Genstern, and when the junk returned eral Chao, a man known to be of to Hong Kong, she was taken to unusual height, personal grace and hospital where she remained until Exceptional courage, brought back the 23rd. the child to the father from the battlefield. His battle robe was Kwai who
Evidence was then given by Chari sanked in blood. Then he opened seene of the shooting. He said that was fishing near the his robe and looked; the child was he was a native of Cheung Kwan fast asleep. "Happily, Sir. your 0 village but had a stake net in son is unhart" and Chao as he Tin Ha Wan village, opposite Po draw him forth and presented him Fan Chan. On the morning in to his father in both hands,"
question he was in the latter place
.
}
In his repertoire, Ma Si Tsang when he saw a junk, being follow- has quite a few old plays of that by a grey coloured launch. As order which makes him stand out the junk was turning towards as towering genius on the Canton-ycemoon, he heard a bang and, ese stage at present. Ma Si Tsang then lost sight of both, behind a is also much admired for the ape- hill, cial style of signing that he has created during the past five or six years. As 黠 comedian too, he
arouses
local theatregoers, as he really the admiration of the amusing in the way he brings out cleverpans and repartees though rather highly spiced at times for refined taste.
MEI LANG FANG. If Ma Si Tsang were a northern
Second Officer's Evidence.
Liu which was concerned in the
Mr. Robert Boyle, the second offi
shooting, was then called, but be- cer of the Customs launch Kwan
fare asking him any questions, Mr. Fraser explained to his Worship
that he did not wish to ask Mr. Boyle to relate the whole story as he had done in the Coroner's en-
quiry. It would be very difficult.
the simple reason that the Cancer, and what he (Mr. Fraser) er like Mei Lang Fang, he would and unpleasant for Mr. Boyle to give evidence against his superior tonese have not had the same care points in connection with the case. decidedly be a greater actor, for
was going to ask was only a few ful training as the Peiping artist.
Mr. Fraser (to Mr. Boyle): On Mei Lang Fong in Peiping is by the morning of April 1 did you ese actor of the time. Without sailed? MR. J. COULD'S SPEECH
question, he is the exemplar and? far excellent of the Chinese stage launch in a gig on Mr. Hallums' Mr. Boyle: Yee. I left the Mr. Joseph Gould: Mr. Chair cannot be surpassed anywhere in orders.
His impersonation of women's part wonderful accounts placed before us fies very well indeed the theory of man and Gentlemen-After the China. To my mind, he exempli twelve months ago, the poor results art for art's sake and the aft for disclosed in the present balance life's sake. Little wonder, he Where was Mr. Hallums then 7 sheet should serve as a reminder caused such a sensation in the He was in the forepart of the
that we
Five Chinese seaman. Who went with you into the gig?
launch.
Shareholders Suggest Dividend.
Reference tony be permitted it this stugo to a joint letter which was addressed by 19 shareholders and received by the Directors on the 19th April last. The signatories earried forward to n new count.
represent a registered holding of shares to the extent of 8,560 "Old" You may feel disappointed at the smaliness of the profit for the past. In other words, a proportion of
"New shares, The explanation for it is
I will now propose that the. Re that, as compared with the preced-50 per cent, and 10.30 per cent. ing year, there has been's falling of the issued Capital, respectively, 1933 as presented be adopted and port and Statement of Accounts for secured of $205,122, the comparative paying a dividend out of the profits ed I shall be glad to answer any off in the gross value of contracts In the letter the desirability of passed. After this has been second figures being, for 1939, 8131,012, and carried over from 1931 was repre relevant questions shareholders may 1931, $336,134. Not only his theresented to the Directors. Under been substantial shrinkage in the ordinary, circumstances the Board
Mr. M. A. Figueiredo: "I beg. aggregate contract values but com- might have seen fit to fall in with to second the adoption of the general consent, the greatest Chin¡ leave the launch after you had petition has been felt with greater the suggestion for the payment of port and benants." severity than during 1931. This is
. Dividend. I was with regret,', a feature of your Company's trad- however, that the Directors replied ing operations which was coinment-
to the shareholders that they saw ed upon when I addressed you ́Inst no reason for reversing the decision "I then indicated the prob- taken at the Board meeting when ability of less work in sight. Until the final Accounts for 1989 were owners realise that reinforced con considered, not to declare a divid. erete piles are cheaper than wood end in respect of the year 1932. It piles in the end, this branch of the was after considerable deliberation Company's business will have to and much thought that your Dirce that is subject to wide fluctuations. University of Southern California are engaged in a trade United States; so much so that the face sustained competition. tars reached the conclusion that it Moreover, embarked as we are on conferred on him the degree of
would be inadvisable to recommend Comments on the Balance Sheet-
dividend. We hope that for the fopment, which may or may not
an ambitious scheme of land devs. doctor of Literature. may be confined to just a few re-
In Dr. ertson and in the circumstances turn out as predicted, the future sentation, what with the combina- She was armed with a Hoskiss Q
Mei's theatrical repre- marks only, since the statement sets that I am about to state you will out in detail cach item on both the agree that the decision is a correct fear, still be regarded as being in together with the remarkable scenic ward of the wheelhouse.
prospects of this company must 1 tion of both tragedy and comedy, F. three powder gun mounted 'for- Liability and Asset sides of the AC-te especially since we conta. The amount of $8,788.85 otherwise be placed under
the lap of the gods. standing against Sundry Debtors
In answer to further questions, hna all been collected since the necessity of making an early call the passing of the dividend, in theatre, I noticed that Dr. Mei'a shots, each between an interval of
Of course, it is only natural that is a striking resemblance of the
Russian ballat. In the Peiping Mr. Boyle said that he heard two accounts were drawn up. The de-
on the new issue shares. We are, view of the large preciation in the value of the Com as you are all aware, definitely from last year, is felt as a keen well as acting never failed to bring heard the shots he was in a gig, graceful posture and gesture as two minutes. At the time when bo ny's investments is a feature of committed to the expenditure of disappointment, but as the diree forth shout of "Hao-hao (Good and could not say whether they the Accounts which has to be re-taking to the comply with the, Covbe in the best interests of the com-ence.
$600,000 in the Company's under tors, in their wisdom, deem it to good) from his most critical nudi. were from the launch or not. ferred to with some regret. The market value of the securities kus K.LL. 2357.
emment requirements in relation to pany to make no distribution, I for
In reply to the Magistrate, wit- been further reduced since 31st Deformation--the first stage of the decision.
Lovelling and site one am prepared to bow to their ing elements of Chinese drama that ther any of the two shots had any There are many other interest-ness said that he did not see whe cember last. This depreciation, I
I would ike to have included effect on the junk as he was ob- think you will ngare with me, is
scheme is progressing satisfac- I observe, however, that the But time will not permit.
scured by the launch which was one coincident with the full in the torily. Both in point of time and Director's increased fers, viz..
lying between his gig and the junk. prices of most local stocks during cost the Engineer's estimate has 88,000, have been debited in full
The junk was about 40 yards from the period under review. Although not been exceeded. It should not to the Profit and Loss Account,
the launch when the first shot was trade has been bad all round, we
fired. my entertain the hope that in the ordinary cycle of changes in im- provement may be looked for which will not only make up for what we have temporarily lost and that the margin of gais will ultimately re- present an appreciation on tire cost of your investments.
Big Kowloon Scheme,
should the
carry over"
be difficult for you to realise that seemingly, it being held that while the Company must be in a position a distribution to the shareholders to control sufficient resources in order to carry out the scheme to
sucessful conclusion..
Removal of Workshops. Besides the development of the large area of over 30 acrça com- prised within K.I.L. 2857, the Com. pany has to incur shortly a further i axpenditure in the renewal of its
effect and gorgeous costumes, there
MUSIC AND MODERN DRAMA
there any other vessel in the neigh- When the gig was lowered was bourhood besides the junk 7-No.
Was the launch armed 1-Yes,
service for about three months and Witness had been in the Customs had received orders "not to usa arms on the offensive in British
By way of conclusion, let ne, would adversely affect the. Com-therefore, point out that it will be pany's best interests, the doubling safe to predict that the Chinese of the Director's fees does not so drama of the immediate future will affect those interests, sanctioned not be of the non-musical type. Waters." though such increase was at the and musical comedy have taken know of any reason
When all is said sad done, opera
His Worship: Do you yourself to be doubted, however whether ese people and spoken drama as meeting last August.
It is greatly deep root in the mind of the Chin should have been used that worn- why aris many shareholders realised, that known in the West will have a
ing t-No. (Continued on Page 10.)
hard struggle to gain a 'foothold After the firing of the second in China. As Mr. R. F. Johnston shot, what did you do?-I carried has well said what the average Chinese loves the best is "that the
on pulling towards the junk. more ex- Why did you go in the gig with
of the
You will expect me to shy a few Patent Rights for the operation of cal drama as well as the spoken louder the music, the words on the development of K.I.L. Franki piles: the rights expire at drama of the West in order to meet travagant the gestures and action, five seamen 1. Mr. Hallumsine 2057. As will be seen from the the end of June next, and your the needs of a new generation. Balance Sheet, the sum speut under Directors have given notice of the
the wilder the dialogue, the more structed me to go near enough to the this big scheme up to 31st Decem. Company's intention to renew them. new drama in China will not sub-playgoers want is something to into the gig or jump into the In my opinion the creators of they like it. What the Chinese junk for one of their crew to jump bor last was 8288,351.58 Wfter de- ducting instalments amounting to
Another pending capital expendimit tamely or slavishly to West- take them out of the workaday water where I could get him he $12,318.10 received in respect of two upon the removal of the Company's bethan dramatiste who derived comedy suits their temperament within a hundred yards
ture will be necessary following what they want. Like the Eliza with the joy as in a true tragi
ern influences. They will take world. The mingling of the grave fore he drowned. plots of land sold within the area. workshops and depot on K.L.L 524 their strength from the Greak better. Now and again, farcial
In point of fact you never got No account has been taken of nay profits that may accrue from the
on Chatham Road. The have sold this property and the their own needs and desires.
owners drama, and bend everything to episodes, to be thrown in between
junk-Yos. ale of these plots, as we are ad- Company was quite recently served reformers ought to be imbued with of latitude in introducing old gags gig was lowered, the launched
The play, giving the actors plenty ised by the Company's Auditors
Mr. Boyle added that before the that was should not count of profits with notice to quit and deliver the spirit of Shakespeare, as Go now hits at passing events of signalled to the junk by blowing 1 until the whole scheme is complet possession of the land, before long, the understood so well in building the time will delight the Chinese short, 1 long and two short blasts
Our present plan is to utilise a
up the National Theatre for mo- mind more than anything else. portion of K.I.L. 2857 under dove be thinking, so much of the ma dera Gormány, and that is, not, to
What China needs the most to On the liability side of the Bal-lopment, and fronting, Prince Ed chinery na to what is adaptable to doy is a laboratory theatre to make ance Sheet there is no feature call-ward Road whereon, to orcot the the spirit or the soul of the peo- critical study of her own classi ing for special comment except the workshops and garage. This is only ple.
At this stage the case was ad- (Continued on previons column),journed until this afternoon.
ed,
a sigual to stop. The junk then appeared to be coming up into the wind.
"BURBERRY"
and
7
RAINCOATS
THAT
MEN APPRECIATE
Our stock have been carefully. selected; you will find just the right one to suit your requirements at the price you wish to pay...
We especially draw your attention to our light-weight Cotton Gaberdine Raincoats at $23.50. They are porous to air-consequently cool, but absolutely waterproof.
11
Single texture light-weight RUBBER COATS
$12.75.
Even at this low price our guarantee holds good as usual.
Motoring Coats, Wool
Gaberdine Coats, Rubberoid Coats. Goloshes, Waterproof Shoes with Leather and Uskide Soles. We allow 10% Discount for Cash.
Wm. POWELL, Ltd.
The Gentlemen's House,
9, Queen's Road Central- -Ice House Street Corner,
Columbia
RECORDS
process
New Standard
of Realisan
VOCAL GEMS
DX88 PATIENCE
DX256-GEISHA
9893-MERRIE ENGLAND
9931-NEW MOON 9764- FOLLOW THROUGH DI56-THREE MUSKETEERS
The Anderson Music Co., Ltd.
Ice House Street.
•
Tel. 21322.
FOR BETTER CONTROL
OF THE WINDOWS
LIGHT, HEAT AND AIR
Al-Ventilating Shades for more porch comfet
AEROLUX
„VENTICATING
PORCH SHADES
FURNISHING DEPT.
LANE,
CRAWFORD, LTD.