Soft Felt
by Scotty
STYLE,
Hats
of Bond Street
QUALITY,
The established Scotts quality, now, more than ever, is the choice of men who want known value.
Call and see the new Autumn styles, you will be pleased with the large assortment.
SERVICE.
MACKINTOSHS TD
MENS WEAR SPECIALISTS
AT THE
Peninsula Hotel
THE
ROSE ROOM
SEASON'S
44
RE-OPENING
SATURDAY,
7th OCTOBER,
1933
9 P.M. till 2.A.M.
GRAND GALA-NIGHT”. DINNER DANCE $11.00 PER PERSON
WITH THE POPULAR ARTISTES
DON AND SALLY &
THE WORTH SISTERS
PHONE RESERVATIONS 580-81
THE HONG KONG & SHAanghai Hotels, LTD.
ASSETS
£13,000,000
BY APPOINTMENT
CLAIMS PAID
£40,000,00
GENERAL
ACCIDENT, FIRE & LIFE ASSURANCE CORPN, LTD,
All Classes of
INSURANCE
WORLD WIDE
ORGANISATION
AGENTS
JAMES H. BACKHOUSE
IA, CHATIE ROAD,
TEL.: 21738.
HONG KONG DAILY PRESS. THURSDAY, OCTOBER 5, 1933.
ECHOES OF 1859
14.-Protest Against Sympathy For Sir John Bowring
February 25, 1859,
are to be
In all sincerity we do protest against the maudling sympathy which has sprung up in favour of Sir John Bowring. If struggles for reform are to be made, and after being crowned with success, the principles fought for abandoned out of consideration to those who opposed them—if "parties high in once who have resorted to high crimes and misdemeanours "are to be checked in their careers, and still ¦ be allowed to go unpunished, from a feeling of sympathy, lest the disgrace they have brought upon themselves should be, their lot-lf victories are to be achieved and the principles they were fought for to be rendered bootless from a con- sideration to the vanquished-then the present posture of affairs in this Colony can" be reconciled to common sense and expediency.
.+
{
!
SWATOW NOTES
Old Stock of Japanese
Goods Sold
NEW TAX ON RICE
Swatow, Sept. 28. Important and welcome develop- manta have taken place in the matter. of the boycott of Japane goods. It will be remembered that, soon Ba the boycott was declared all Japanese goods were sealed up by the National Salvation Association. At last these goods are being released for sale in the shops, twenty per cent of the pro reeds being devoted to the
National Dofence 'Fands. This scheran, does
Japanese boycott, for no fresh goods are allowed to be imported. The amounts to approximately a million' value of the goods to be released dollars after allowing 40% for damage and depreciation.
not mean the cancellation of the “anti-
Rice Tax
John Bowring Views his late defeat as a lesson. On the contrary it rankles in his breast, and all the venom which wounded vanity can emit absorbs every other fealing. He would do harm if he could, we make no doubt, and it is a matter of congratulation that we are soon to be rid of him, or affairs would come to a dead lock. These denti ments are not the. wild railings of our fancy, nor the cravings of our retalliation. They have been deve loped and illustrated within the past week or two in a most, un- mistakable manner-and thus. Three Europeans were to be tried for wilful murder.. An application The question of the new rice tax at was made to the Government to $1 per bag has been engaging the supply them with legal assistance. careful attention of those in this line Bir John Bowring refused, when of trade. Re Merchants natumily our three non-official councillors resist this paw impost, but what paid the required sum out of their redress can they get! The Chainher of Commerce ía doing what it can to own private purses. All honour to assist the unfortunate merchants, but them, say we."
it is not likely any measure of 'success Only to reflect for a few minutes! will be achieved... I understand the Here this same Governor but a few Custom House has been instructed to months ago, kept the Colony in a collect the tax before passing and ferment for several days, prosecut-releasing any shipments of rice." ing an Editor who had simply ex-
More Taxes posed-one of the nefarious acts of his administration. The Jury, The Piecegoods Tax inonopoly has changed hands and the new Hakka ed the Editor was right, whereupon syndicate took it over yesterday. The the Governor had to pay out of previous concern did not make much
sides wasting the the public money $800 costs, be- money as a good deal of tax was evaded through smuggling. Now the time of the
present: Tax office har decided to Court and the Crown lawyers impose a tax on cotton socks, singjeta Yet here three men are to be' tried and the like. Importen are therefore for their lives by the law of Eng-compelled to increase the price fo land-they have no money, and the cotton goods, which means hardships British Crown which prosecutes to the people. will not provide them with means to defend themselves!! If this does not prove what Sir John Bowring. is, we must admit that our de nunciations against him are
As matters stand the community have tardily and unwillingly, "though stimulated by great aggra- vation, resisted the legal and p- pressive acts of our legislature. Having succeeded, they appear to be content, and unwilling to pro-without hearing the defence, decid- 'ceed further out of a most com-
mendable spirit of loyalty, and from an aversion to see authority delegated, by the Crown traduced. We cannot help thinking' that this' la a mistaken notion, and that it would be far better to illustrate, that the constituted authority can- not be strained to act fllegally and in excess of its powers, without involving that disgrace and expo- sure which the institutions of the country have Imposed as a punish- ment for the abuse of authority.
It were folly to suppose that Siri Just.
THE CHINA ESTATES
LTD.
Dividend Paid Despite Embezzlement Loss
un-'
ا وقضية
At the Tenth Annual Meeting of the Chinese Estates Ltd., held at China Building yesterday, it was announced by Mr. Li Yau Tsun, O.B.E., Chairman, that despite the alleged embezzlement of over a lakh of the Company'a money, by its late rent collector and book-keeper, Thomas Ng, the Company was nevertheless issuing a dividend of $5 a share. It was also intimated that there would be an even better dividend next year.
As a result of this defalcation it was decided that books- and accounts would in future be examined monthly and not annually.
The Chairman sild:
'The net profit for the year, after. provision, having been made for Reserve for Depreciation on China Buildings (836,500), Bad and Doubtful Debts (850,000), and Directors" and Auditor's Fees and other expenses, is $71,041.28 which, added to the $427,525.15 Brought forward from last account, makes a total of $498,568.43.
Your Directors regret that the net profit for the year shows a decrease of 861,550 as compared with that of the previous year. That decrease is due to (1) the provision of $50,000 for Bad Debts, (2) the writing off of $859.30 in respect of Bad Debts (accrued rent) and of $3,071.36 In respect of Bad Debts (loans and advances), and (3) the fact that about $9,000 payable to us for interest on loans during the year under review was hot paid until after the 28th February, 1933, and this interest! will consequently go into next year's account.
The provision of the hnusually large sum of $50,000 for Bad Debts is due to a defalcation
1.
Fortunately, there is still to be carried over to new account the sum of $368,568.43, and all our shops and offices have been let, there being not a single vacant room in the whole building in spite of these bad times: The Company being in this satisfactory financial position, the Directors are glad to be able to recommend to you a final dividend of $5 per share, which is the same as that voted for the previous year. If rental continues to maintain its present figure during the next 12 months, the Directors are in hopes of being able to recommend to you a better dividend next year.
The provision of the sum of $50,000 in the accounts now before you are made after careful con- sideration by the Board and in consultation with the auditor, as your Directors have considered it best to spread the loss over two, years instead of including it all m next year's account;-or" instead of commencing the writing off in the next Balance Sheet, as our idea is to wipe this loss off our books by the end of the next financial year.
Your Directors have decided to recommend the apportionment of the $449,086 in the following, man- her:-
To pay a nal dividend of $5 per share, ‘ab- cx-
sorbing... To carry forward to
.$ 82,500.00
366,546.43 new account
$449,068.43
pany has sustained, and press to the shareholders their deepest regrets. The entire clerical stan charged with the duties of collecting rents and keeping the accounts of the Company has been changed, and the Directors hope that the improvement recently in-
It is hoped that this proposal
stituted in the system of rent-will meet with your approval. collection and audit will effectively safeguard the monies of the Com- pany in future:
It is with very deep regret that the Directors have to record the death of Mr. Liang Shih Yi, ex Premier of China, who, was a Large as the loss to the Com founder of this Company, and pany is, the Directors desire to whose advice had been invaluable point out that under article 150 to the Company. In recognition of the Company's Articles of As-For Mr. Liang's services, your Direc- sociation, the Directors, pacers tors have co-opted his son Mr. and employees of the Company are Liang Ting Kal to all the vacancy. entitled to a bonus of not more According to our Articles of Asso- than 20 per cent, of the net profits tion Mr. Liang Ting Kal's term of of the Company, but during the office expires, and I shall presently whole existence of the Company have pleasure in submitting hia the Directors have never for one name for re-election as a Director single year taken any bonus. Dur- for the ensuing year. ing the ten years of the Company's
working, the net profit amount to "I beg now to move that the 81,196,270, and if the Directors had Directors Report and Statement of taken only 10 per cent of this sum Accounts as presented be adopt- for the bonus, they would have et. When the motion has been drawn $119,627. And if we also seconded I shall be pleased to an- Lake into account interest at 6 per swer any questions that may bé
resurs
Messrs. Lau Tak Po. Fung Ping
amunding to 8103,844.97 art bem de amounts put to me. been committed by the rent-
that would have been drawn dur Mr. M. K. Lo seconded the re- collector and book-keeper of the Ing these ten years," auch interest solution which was passed unani- Company, one Ng Chun Sing alias would have. amounted to $7,177.00 Thomas Ng, who absconded in which, added to the amount of the
miously August last. This embezzlement was made possible by very clever manipulations on the part of the culprit. It was a case of misplaced confidence, for up to the time of the discovery of the embezzlement, this man, who had been with the Company from the time of its for mation, had never given the Direc- tors any cause for the least sus- picion, having proven himself, to
bonus, would have come to $126,804. It will thus be seen that this mum, Fan and Liang Ting Kal were. re- to which the Directors have been elected unanimously as Directors. entitled, but have saved to the Mr. Li Tung was re-elected Company, has more than counter-auditor on the movement of Mr. T. balanced the recent loss. More-· P. Lau, seconded by Mr. Foo Yick over, about 90 per cent of the pan. This was carried unanimous- shares of the Company are yo held by the Directors them-
selves and their relatives, and so Those present, at the meeting about 90 per cent of the low falls were Mr. Lau. Thin, CRE be hard-working, and frugal in his on them I am not stating these! (Chairman), Hon. Dr. R H Kote mode of life. A report or the om- | two facts in extenuation, but to wall, E.M.O; Mesars, K. T. Ueting,
COUGH LINCTUS
· HIGHLY RECOMMENDED FOR COUGHS, COLDS ASTHMA, BRONCHITIS AND ALSO VERY EFFECTIVE FOR THE "PROTECTION OF THE CHEST AND THROAT, ETC.
Prepared Solely by 'QUEEN'S - DISPENSARY
CHEMISTS & DRUGGISTS HONG KONG
RED R SE BEAUTY SALON
Our skilled Operator havirg
had 12 years' Experience in
America.
Specialising in Ladies'
Wind Blown Hair Cuts"
6000-119 EZOND
National Bank Building-Entrance Ice House Street.
NEW
FELT HATS
FOR
LADIES
A WIDE CHOICE OF STYLES
ALL THE LATEST COLOURS AND QUALITIES.
PRICES
FROM $4.50 ToTM ́$12.50
MAKE YOUR SELECTION AT ONCE!
THE SINCERE CO., LTD.
LADIES DEPT. 2D FLOOR-
KOMOR'S.
(Komor & Komor)
Open on Wednesday, October 4th
FIRST EXHIBITION
MODERN ELECTRO SILVERED
PEWTER & - ANTIMONY
By Mr. A. SHOTIN.
FOR 10 DAYS ONLY
A cordial invitation is extended to all residents of the Colony to inspect these samples, to be sold at introductory prices.
Cantieri Riuniti Dell'Adriatico
TRIESTE-MONFALCONE
Shipbuilders, forge masters, electrical engineers, makers of the most up to date types of seroplanes and seaplanes.
Tenders and desigas submitted on request
bezzlement has been inadega the Fation that in reposing this misid Fick: Mol, Fu, Lau Tak GENERAL AGENCY FOR HONG KONG AND SOUTH CHINA
Police, and & -reward, önered, riisted, eanndence in one of the Po, Leung Ting Kal, and Fung Ping
for theatrest fot.
The Directors
employees, the Directors Fan Director and Secretary),
greatest suf Directors: Messra: M: K. Lo. Il Po Page 1 Kwai, T. W. Lo, and 11 Kun Chun..
ST-GEORGE'S
GISE FLOO