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Priced from $8.50 each
Less 10% cash, discount
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HONG KONG DAILY PRESS, MONDAY JANUARY 1, 1934.
CHINA LIGHT & POWER
COMPANY
Healthy State Of Affairs Revealed
NO FURTHER NEW CAPITAL
NEEDED
Mr. A. E Compton, presiding over the annual meeting of the China Light & Power Company on Saturday observed that the award of $2,000,000 to Messrs. Shewan Tomes in respect of conpensation for their former General Managership, was great- ly in excess of anything that had been contemplated, but in spite of that. He felt that the development of the undertaking would not be handicapped.
Referring to the issue of one new share to seven old ones, the Chairman said that the directors did not anticipate the need for further new capital, in the near future..
It was announced that dividend Warrants would be ready by February 1. ..
Bupporting the Chairman were the Hon Mr. J. P. Braga, ``Mr. Felix A. Joseph, Mr. Lo Cheung Shit" and Mr. Horace Ka- doorie (directors) and Mr. Noel Braga (secretary). There was also a good attendance of shareholders.
CHAIRMAN'S SPEECH
as
Addressing the meeting, the Chairman said:—“
Gentlemen,--The accounts for the financial year ending 30th September, 1933, having been in your hands for the fequisite time, I propose to take them as read.
The gross prost for the year amounted to $1,134,890.02, against $1,068,296.55 for the pre- vious financial year. After charg- ing profit and loss account with directors, auditors', and consul- tants' fees, interest and deprecia- tion, etc.. the nett profit stands at $668.855.29. Considering that we have provided 8384,000 for depreciation, which is over 835,000 more than last year, and in view of the well known fact that the general depression is not without serious effect on this Colony, your directors feel that there is every reason for congratulation that the nett profit is as satisfactory as it
`13.
You will realise "of course that the increased figure for deprecia- tion is necessary because we have added to our plant in the last "year-the principal addition being
60,000 lb. boller, which I am glad to say makes for greater efficiency in the power station.
The company's assets are shown
in gr at detail in the balance sheet and call for little comment The amount of approximately 8240,000 added to land account is not due to new acquisitions but consists for the most part of transfers from buildings account of amounts paid for the reclama- tion of RM.L. 93 Extension and KML. 100, both adjacent to the present Power Station.
ADDITIONS TO PLANT AND “
MACHINERY'
is well in hand, and we hope that so far as the main feeders are concerned this work will be com- pleted in all districts before the end at this year with the excep- tion of the Tsim Sha Tsui (Chim Sar Chul) area
All machinery and equipment both at "dür generating station and in the substations has been maintained in a high_state di. efficiency.
A VERY SEVERE BLOW
Your Company was dealt a very the sum of $2,000,000 was award- severe blow last - February "when
UNION CHURCH
Sunday School Party
A lovely treak for Sunday School children was held at the Kowloon Union Church on Saturday where some ninety odd. kiddies gathered to a Christinas party. „Talk' about funt. If you could have seen some of them romping about laughing and shouting for all they were worth you would have felt young again yourself. Sa
after various ex-
The primary tots gathered at 3 o'clock and clamations and inspection of the Christmas tree had". subsided, öld games were started the favourites like "Farmer in, a. Dell”.
The proving the most popular. elder children, gathered at about four. These seemed to prefer the more vigorous exercises both for their muscles - and their volces. Soon the fun spread like fire and the whole room became one of gay Confusión.
after-
Tes was served shortly wards... Later in the evening Santa Claus appeared and made many u face beam by delivering a present to each kid in the room. The party was over only 100. soon and by six o'clock, the children were sent away rired but confented. Mr. R. Hall performed his duty most successfully in his role of Banta Claus,
IF GOSSIP WE MUST.
(Continued from Page 1)
barrack, the old City Hall for the there acoustics are perfect and is no traffic outside. OFFICIAL PARTY.
There was an official dinner on board HMS. Tamar, given by ⚫the Commodore, and the whole party went along to the Concert afterwards. I saw His Excellency the Governor and Lady Peel General and Mrs. Borrett. The Admiral with Lady Dreyer, Sir Thomas and Lady Southom dlooking very well after Home leave), Captain Walter and Cap- tain Mears, Mr. and Mrs. Mc- Kichan, Miss Mary Withiàm, iand Commander and Mrs. Seismore. Also upstairs were Major and Mrs. Atkinson, Mr. and Mrs. Tam" Pearce, Dr. and Mrs. Strahan, Major Dowbiggin with hig wife and daughter, the shields with Miss Varty. Mr. Justice Wood. Dean Swann, Mr; and Mrs. Alabaster with Rosalle, Mr. and Mrs. Roger Lindsel and their niece, Miss Mollison, Mr. and Mrs. Shaw, Mr. and Mrs. Stafford Smith.. and Mc. and Mrs. Tinson,
and pro-
Co. as compensation in respect of ed to Messra. Shewan, Tomes &
their former general managership. In spite of the amount was greatly in excess of fact that this anything that had been contem- plated. I feel that I can say with confidence that this heavy charge will not in any way handicap the This $2,000,000, together with the development of your undertaking.
cost of the expensive Kemp, appears as an item in our tracted arbitration by Sir Joseph
balance sheet, and it is desirable, your directors consider, to write it off gradually in the course of directors propose to place this a. beginning...... your years to a special reserve a sum which is slightly in excess of the commission which would have been earned by Messrs. Shewan. Tomes & Co, had they remained as general managers.
years. As
Your directors decided to offer to shareholders of the Company at par one additional share to every seven existing shares held by them, as has been announced in the papers. I may say that, Capital additions to plant and after this new issue has been Machinery will strike you as being made, your directors, so far as very considerable, and it would they are able to see at the present seem at first sight that on these time, do not anticipate the need alone" we spent about $1,000,000 for further
new capital in the during the past year.
Actually, near future.
this La not the case, as a large part of the Stores and Machinery in stock and in transit last year has been transferred to capital after their installation' and ́erec- tion on site, etc. In fact, the total of these two items of Stores and Machinery ein stock and in transit at 30th September, 1932, "was just over $1,000,000; whereas the corresponding figure this year is under $450,000.
-Extensions to our overhead system in the New Territories were carried out in the following areas:
From the Autau Supertension Step-down Substation to Castle Peak; this line is primarily de- signed to feed the two large bricks works in this neighbourhood, both of which have adopted, electriè drive: This lins la continued on to that portion of the Castle Peak district where some foreign resfä dences have recently been erected. The extension from our Kwantl
41
amount of 8820,918.73 which is I now have to propose that the available for appropriation shall be dealt with as follows;- To pay a Dividend of 45 cents per share on the "Old" Shares allotted prior to ist October, 1932, and' proportional amounts on the "hares allott- ed' sui quently to " that dat absorbing about.
To place to a Special Reserve in respect.
Compensation
8591,464.50
paid to Mesura. She- wan, Tomes & Com 40,000.00 To carry forward the balance amounting to" about
-169,454.23
OF THE GROUND FLOOR. :-
Among those who had seats on the lower floor. I noticed Major and Mrs. Parkes, the lätter in a lovely frock of purple velvet, Mr. and Mrs, Dennis Reiss, Mr. and Mrs. Binney (of the Shing Mun Valley), the two Miss Hancocks, both in short white fur coats, Mr. Kneller, Colonel Macpherson, Dr. and Mrs. Tottenham. Mr. and Mrs. Raworth, she wearing B most attractive black velvet cos- tee triramed with white fur, Colonel Boyd's two daught ers, and Mr. and Mrs. Parry-
WATTING FOR CARS, Wingfield.
I took advantage of the few minutes wait for our baby Austin to get some more names for you. There was a large crowd stand- ing by the doors and it was ra-' ther hard for me to see over them, but I managed to distin- gulsh Mr. W. Hamilton and the Hon Mr. ED.C. Wolfe with his wife and daughter. A few yards further on I saw Commander and Mrs. MacCartan, Miss Pat Master, Captain and Mrs. Bedge- wick, Mr. and Mrs. Platt, Colonel and Mrs. Carrington Sykes, Miss Heather: Gerrard and the De- puty Inspector General, Mr. King.
(8820,918.78 | 501st October, 1932, and propor- tional amounts on the Shares COMPANY'S STAFF THANKED allotted subsequently to that date,
Step-down Substation to Sha Tation, I should Hre to say that this nancial year ending 30th Sept- Before putting this as a resolu- be declared in respect of the Kok was completed, and I am pleased to report that the rest result, which I think we may re- ember, 1933, that a sum of 380,000 dents in this area are apprecia gard as decidedly good in present be placed to a special reserve in
circumstances, ting the advantages of a supply been attained without the efficient Messrs Shewan, Tomes & Co. could not have respect of compensation paid to of electricity.
and energetic work of the whole and that the undivided profits of the Company at 30tir September. of the Company's Star I am
A SPECIAL SUBSTATION
A special substation has been sure that shareholders will agree 1993. less these appropriations, be erected in a suitable position to that the Company's thanks are carried forward to the credit of supply electric power to the late due to them for their unfailing profit and loss account for the
Connected with the con- extorts., FRE
ensuing inancial year struction of the Shing Mun Gorge You are herare of course that
"Mr. Kadoorle. I beg to second. Dam. The total load connected since our last Meeting Mr Straf the resolution will eventually amount to some ford has retired from the service The Chairman than invited, the thing in the neighbourhood of of the Company to which he had meeting to ask questions, but 1200 hp, and it is estimated that given such unstinted devotion. I there being none, the resolution the Dam will take from 31 to 4 am glad to say that we still, how was put to the meeting and years to build."-
ever, retain his services in an Mr. & H. Compton and Mr. C. During the year, the Hong Kong advisory capacity In England Brewers and Distillers, Ltd, put As, announced recently in the A da Roza were re-elected Direc into operation their brewery plant papers, the Directors appointed tors of the Company on the pro- posal of Mr. E. Nissin seconded
carried,
K.M.A
CERAMIC & REFRACTORI PRODUCT
CLINGER PAVING,
&FIRE -BRICKS
STNE-
-WARE
PIPES &
"GLAZED
TILES
Ask for our Illustrated Catalogue-Cumpare our Prices and inspect our wide Range of Samples
THE KAILAN MINING ADMINISTRATION DODWELL & CO, LTD., Agents, Hong Kong
STERANCIS
HOTEL
TRY OUR BRITISH, FRENCH & RUSSIAN FOOD
WELCOME ALL TO
THE HOTEL
ΤΟ
DRINK OUT THE OLD YEAR
AND
DRINK IN A BRIGHT
NEW YEar.
NEW YEAR DAY MENU
TIFFIN $1.50
1. St. Francis Cream Soup
2. Tomate Consomme
Fried Sole, Tartar Sauce
4. Grilled Lamb Chop
5. Baked Cheese and Spaghetti 8. Pomade of Beef
7. Shreaded Pork and Rice
8. Shrimp and Eggs (French Style)
9. Roast Sucking Pig, Apple
Baate
10. Boast Turkey and Stuffing
DINNER
1. St. Francis Cocktail
Favourite Cream Soup
3. Garoupa-Lemonde Tried Veal, Russian Style p. Fondon Pork Chop 6.Devilled Duck
Chow Fan
8. Roast Turkey and Ham 9Boast. Saddle of Lamb
19.
11. Rouat Potatoes
12. Anna Potatoes 13 Spinneh Souffe
14 Cauliflower
1. Cold Veal and Ham Pie
16. Cold Game Pie
17.
mas Padding-
18 Mince Pie
19 Cheese and Biscuits
20 Fruit and Nuts
99.Coffee or TOR.
$2.00
10. Baked Potatoes
11. Caulifower
Cold Asparagus, Russian Sancs
12. Cold Pork Pie
14. Plum Fudding, Brandy Sauce
15. Mince Pie"
16. Cheese and Biscuits
17 Frult and Nute
18. Coffee or Tes.
THE OFFICE APPLIANCE CO.
LIMITED
INCORPORATED UNDER THE HONGKONG ORDINANCES Specialists in Office Equipment- Bulding, 12. Des Voeux Bond, C. Phone: 28807
Just received
new Stock American Factory Rebuilt Royal Underwood Typewriters,
and 18 carriages
Look and work like new Type
writers at one third the cost of
new machine.
at Sham Treng (Sham Cheng) Mr. D. W. Munton, the Deputy by Mr. P. NM. da Silva Mesta All Typewriters guaranteed for twelve months,
which as you know is electrically Manager, to succeed him."- operated, taking their supply from this Company.
Lowe Bingham Matthews and
I now put the following Resolu- Mesars, Linstead and Davis were tion:
elected auditors of the Com- As regards the Change of Fre-That the Report and Accounts pany on the proposal of Mr. Au quency, this has been in large as presented to this meeting betin seconded by Mr. Gould. measure completed thereby adopted and passed, that "The following shareholders were
Our programme for the changea dividend for 45 cents per share prese of pressure from 2200 to 6600 Volts on the "Old" Shares allotted prior Messi K. C. Mark Leung Yau
Cheong, PN da Silva PNL
da Bilva, P. M. N. da, allva är. J. "Gould ▲ NIKALIEGAS
Mendham 8, MT
tenson, T. M torney for Mr. Bisgaand°C.