♫
This Prospectus has been fled with the Registrar of Companies, pursuant to Section 36 of the Companies Ordinance 1932.
The subscription list will be opened at 10 a.m. on Friday, the 21st day of September, 1934 and will be closed at or before 3 p.m. on the same day.
The Hongkong Land Investment and Agency Company, Limited.
Incorporated on the 2nd day of March, 1889 under the Companies Ordinances of Hongkong.. Authorised Capital $10,000,000.00 divided into 400,000 shares of $25.00 each. Issued and fully paid-up Capital $7,500,000.00.. Issue of $2,000,000.00 4 per cent. Debentures at Par.
HONG
KONG DAILY PRESS MONDAY, SEPTEMBER 17, 1934.
Editorial and Businom Offen: 11
les Hours Street. Tel. 30251
INDIA WINS
Night Editor (Wanchai Ofice) One-Sided Game On
Tel. 84511.
London Office: 53, Fleet Street,
6.0.4
The Daily Press.
HONG KONG, Bretember 17, 1934.
WHERE'S THE AXE?
៧
After perusing from end to end the Budget speech of the Honour- Pable Colonial Secretary, it is dima- is the cult to say what exactly
THE present issue of $2,000,000.00 worth of Debentures now offered
for subscription at par forms part of a series of $5,000,000.00 polles of the Government with re- worth of Debentures created by a Resolution of the Board of Directorsgard to the finances of the Colony. In spite of the fact that. "we are passed in accordance with the provisions of the Memorandum and Articles of the Company. The present issue of $2,000,000.00 now
now feeling the full effect of the offered for subscription and any further issue of the balance of the stamp" there is no very visible sign series or any reissue will all rank pari passu as a first charge on the
that Government is equally anxious undertaking. property and assets of the Company both present and
Lo "slow down" in order to make future without any preference or priority one over another and such
things easier in these dufcult charge is to be a floating security.
mes. We quote the Colonial Se- cretary before going further on this point. We wish to retain,” said "our, governmental Sir Thomas, machine as little impaired as pos- sible, so that we may be ready to move forward as soon as improved circumstances permit." We are re- minded in this respect of Reuter's
The Debentures now offered will be issued in denominations or $5,000.00, $1,000.00 and $500.00 each respectively.
Repayment.
I
All the Debentures now offered will be repaid not later than 30th September 1954, at par but may at the option of the Company be redeemed at par either on the 30th September 1944. or on any date thereafter Axed for payment of interest by giving six calendar months' previous notice.
Interest.
The first payment of interest will be made on the 31st day of description of the St. Leger. "In- March, 1935, calculated from the date of allotment and thencefor-side the distance post," says the ward half-yearly on the 31st day of March and the 30th day of Sep-worthy correspondent, Smirke Debentures will be transferable by duly registered transfers in gave the favourite a reminder with the form prescribed, The Register of Debenture Holders will be kept the whip. whereupon the favourite at the Company's Registered Office, Hong Kong.
tember in each year.
PROSPECTUS.
13
The Hongkong Land Investment and Agency Company, Limited, is well-known throughout the Far East and is a British limited Company incorporated on the 2nd day of March, 1889, under the Companies Ordinances (Hong Kong) for the purposes set forth in its Memorandum of Asseclation.
Police Green
-
In the International match on the Police Green yesterday, the team representing India accounted for the team representing Wales. The match was interrupted by rain and when darkness fell only seventeen heads had been played. F. J. Jones (who skipped for the Wales) however, conceded game to U. M, Omar, the Indian skip.
The winning team scored, two sixes and a five in the course of the game and when the seven- teenth head was "reached they had obtained 35 against their op- ponents' twelve.
In-
The teams were as follows: dia; A. M. Omar, A. A. Razack, E. M. Omar and U. M. Omar (skip). Wales T. Hunter, A. A. Lewis, J. Budding and F. Jones.
it th
SUBS ARRIVE
Eightyone To Be
bounded forward." Is the govern- mental machine
present at
in such
state A
of ciri- the ciency that with
arrival | ments.
of better times in Hong Kong it need only be given a reminder be- fore it would bound forward?
Carrying the simile a little fur- The proceeds of this issue (together with the proceeds of any ther, the attitude of the Govern- further issue or re-issue of this series) will be employed generally in ment in keeping its machinery in carrying out the plans of development already in progress on the the same condition as in normal Company's properties and for further working capital as may becometimes is not unlike the race owner necessary in connection with the business of the Company. In par- who in the "off seasoh", goes to a ticular such proceeds will be employed in building a block of modern lot of trouble and expense of keep flats in Bowen Read and ire rebuilding Queen's Road premises of the
ing his candidate fit. Well might Company.
such an owner say that he was arlopting this attitude because the The accounts of the Company have been audited by Messrs. horse would be ready to go forward: Percy Smith, Seth & Fleming of Bank of Canton' Ballding, Hong and race whenever called upon to Kong, and by Messrs. Linstead & Davis of Gloucester Building, Hong do so. The fact remains that there Kong, joint Auditors of the Company whose Report for each of the is no call to do so and furthermore. three completed financial years immediately preceding the issue of this Prospectus as regards profits made by the Company and divi-it is contrary to the interests of the dends paid is as follows:---
There are no outstanding mortgages or charges against the Com- pany's assets.
AUDITORS' REPORT.
The Chairman and Directors,
The Hongkong Land Investment & Agency Co., Ltd.,
Gentienten,
Hong. Kong.
We have examined the audited accounts of your Company for the three years ended 31st December, 1933, and certify that the profits for that period, computed on the basis hereinafter mentioned, were
as follows:-
$1,173,976.29
..... $1,212,812.46 $1/131,407.12
Year ended 31st December, 1931 Year ended 31st December, 1932 Year, ended 31st December, 1933 These profits, are arrived at after charging all expenses of ad- ministration, maintenance, and depreciation, and after making such adjustments as in our cpinion are appropriate, but before making any provision for bonus to staff, or appropriations to free or specifč reserves or dividend. The charge for depreciation only occurs in the accounts for the year 1933 in respect of Gloucester Building. The profit on sale of properties in 1932 amounting to $322,528.57, together with certain small extraneous profits, have not been taken credit for in arriving at the Company's profits as above.
The issued and paid-up capital of the Company during the above perlod was as follows:-
As at 81st December, 1931
As at 31st December, 1932
As at 31st December, 1033
$7,485,075
$7,500,000 $7,500,000
1.
J
comprising fully paid ordinary shares of the nominal value of $25 each. In respect of each of the financial years ended 31st December. 1931, 1932 and 1933, a dividend thereon was paid at the rate of 16%
or $3 per share.
No audited accounts have been published since those relating to the year ended 31st December, 1933.
(Sd) Percy Smith, Seth & Fleming Auditor
--Linstead & 'Davis
Hong Hong Kong, 28th August, 1934,
owner and the welfare of the horse to train in the off season.
The present slump in Hong Kong might well be called an "off" sea- son. Its duration no one can guess. It has intensified during the past few years in each one of which no relief from taxation has been received by the public
On the contrary several fresh taxes had been introduced. The Budget for 1935 calls for no new taxes. That is satisfactory as for as it goes. In normal times it would even have been greeted with a cer- tain amount of gratitude, but in these admittedly abnormal days, when according to the government spokesmen, even ratepayers are slow with their dues, some measure of relief should be introduced into the Budget,"
Drawn For
If Gossip We Must
The
At Mountain Lodge during the "At Home" given by His Excellency and Lady Peel recently
prevailed
ENFIN
usual galety on Saturday at the Hong Kong Hotel, when a large and brilliant crowd assembled to make merry. Particularly attractive was Mrs.
But no! There comes a time when the soul revolts; when the
The 1935 China-pony "Subscrip- tongue covered with a rich and tion griffins were landed yesterday | involuntary film; when the mind morning off the "Nanning." There refuses to be concerned with the were in all eighty-one ponies and vagaries of women's clothes and a look over over them revealed escorts. And why not a Gossip'a that they are in every way up to mind too? Can any muddy the standard of former consign-brained reader of this deplorable paragraph register a single reason for my repeating the fisttering and undoubtedly accurate com
about the women, monplaces young or old of this Colony? Let me say at once, to avoid giving any offence, that I regard the women of the Colony (and the men too If they insist) as the best dressed, most talented and beautiful collection of people it has ever been my privilege to meet.
The pontes will be tried out and drawn for in due course, and the dates for the drawing will be an-
nounced later.
THE TYPHOON
Th Royal Observatory reported at 5.49 pm, yesterday:-
The Pacific typhoon appears to be situated about 700 miles east
of Manila, moving slowly W.N.W.VAIN REPETITIONS
LOCAL AND GENERAL
15
One case of diphtheria and two of enteric fever were reported for the 24 hours ended on September 14.
A collision occurred on Saturday between motor car No. 3236 and lorry No. 1674 at Magazine Gap. The motor Car's mudguard was slightly damaged.
After being knocked down by car No. 1436 iri Stubbs Road. a-61- 3ear-old Chinese woman, Kwan
Yen, of No. 12 Tung Yen Street, was admitted to the Government Civil Hospital for treatment on Friday evening.
A Chinese amah, Ng Kwan, of No. 13 Tai Wo Street, was sent to the Government Civil Hospital ön Friday suffering from a bite re- celved from a dog. the property of Set Major Bander of Murray Bar-
tacka...
Some months ago one of the leading business institutions in the Colony withdrew the "High Cost of Living Allowance." which they had Exanted to their employes. Not sc long ago another big institution with branches all over the world cbtained a "voluntary" cut of ten The band concert which. TAH per cent. from the salaries of its arranged to be held on the St. stan. A few years ago all govern Andrew's Church grounds last ent salaries were "revised," and night took place in the Church In view of the abnormal times in Hall, on account of the weather. the Colony, which Government re- There was a large attendance and cognise, the time has come, we feel, the band of the 1st Bn. 8th Punjab for a "revision" in the opposite Regiment (by kind permission of Lt. Col St Baxter and direction
Officers) rendered a delightful programme of mutit D
The accounts of the Company in respect of the half-year from 1st January, 1934, to 30th June, 1934, have not been audited by the Company's Auditors but have been made up by the Company for the purpose of paying an interim dividend and such accounts shew that the profits for such half-year amounted to $622,509.53, of which The details under the various amount the sum of $118,240.85 consists of profits on land sales.
An interim. dividend of $1.50 per share in respect of such half-sub-heads we shall deal with on year (1st January, 1934. to 30th June, 1934) was declared in respect another occasion. The Public who of all the issued shares of the Company.
pay the tax have good reasons to It will be seen from the above Report on profits by the Auditors feel that rigid economy should be of the Company that the present surplus revenue of the Company the keynote of the Government's sufficient to pay the interest on the present issue many times over.
The whole of the present issue of $2,000,000.00 has been under-Budget seeing that it is the by- written by the Hongkong and Shanghai Banking Corporation and by Messrs Jardine, Matheson & Co., Limited, who will receive between them for their services a commission of one per cent. on the amount so underwritten.
||
The following Contract has been made:- Underwriting Agreement dated 4th day of September, 1934, and made between the Company of the one part and the Hongkong and Shanghal Banking Corporation and Messrs, Jardine, Matheson Limited, of the other part being the Underwriting Agreement above mentioned g
¡CO-
But why should one SAY it again? You see we both know it so well. I am prepared to admit that this week I have not per- formed all the duties of a good Gossip. Prominent social func- tions have wilted under my ab- sence. I have not even been to "Saturday-night-at-one-of-the- hotels." Inevitably, with
that uncanny foresight given only to brokers and gossip-writers, I knew that Miss Petunia Bunn and Dot Kerry would be there in mouse- coloured oflcloth looking lovelier than ever: that Mrs. Gubberly would be exquisitely dressed, and If possible loveller than ever; that Priscilla Bung had a lovely new white frock and would be, fex- And
so did you And 80 did the Abyssinian Admiral at the door (who probably knows more than we all give him credit for).
cably, loveller than ever.
MILITARY DANCE AND
TOMBOLA
Th weekly dance for all ranks will be held at the Garrison Leë-
the prize-winners being as fol-
(By_STREWTH)
Mrs, du Frécourt, another excel- lent and assured amateur actress, has been asked to produce B programme at the Peak Club in February. I hear that it will probably consist of three or four- one-act plays, but the cast has". not yet been decided. ·.
It is rumoured too that in spite of Ronnie True's absence Cochran's throwouts. intend to give another of their hilarious musical entertainments. I think they will have a good deal of difficulty in getting a suitable band,, but once that is overcome- I think we can expect as good a show as last year.
| IT'S AN ILL WIND
Searching my mind for further tittle tattle in this barren week. It occurs to me that the biggest infuence was wielded by a visitor' who never even reached the Colony. I mean the Typhoon. It always has a bad influence; it- drives husbands to drink and wives to bridge.
But why bring that up, as the ship's steward said to the passen ger after dinner. It don't signity, and leads us to a defini- tion of gossip, which to my mind thought what fun it would be to Speaking of bridge, I have often is the art of amlable guesswork i write a gossip column composed about slight acquaintances rather entirely of people's characteristics. than the utterance of poisonous at the bridge, table. Mrs. Gross- and positive --statements about 'friends, which seems to be the rule here.
man plays an excellent game, and so does Mrs. Smalley, Mrs. Turner is good but rather a rigid "con-
Well never mind. Hold my ventional" horse while I spit, Admiral. THE DRAMA
Mrs. Coote plays splendid, rather dashing bridge with occasional purple patches. Mrs. Lewis Bryan holds enormous cards.
But perhaps not! I might get into trouble if I started talking about some of the others,
Bigns and portents seemm to show that Amateur "theatricals are again lifting their head and for the winter getting ready season. The HKDS intends to And have you heard of our produce two plays, one in the Bright Young Things' latest ex- autumn and one in the spring. plaita? It appears that Dress They have a big reputation to reform has reared its ugly head keep up, and with such fine per- in one of the foremost clubs in formers as John Robertson, Mrs the Colony, and that, not content Grossman, Kenneth Kemble and with the irreproachable dianer others it can be stated as a fact jacket, for dancing, some of the that they will give us excellent moving spirits have imitated entertainment. Indeed they are Joseph and adopted shirts of so good that they are almost apt many colours. to err on the side of being over- Let us hope no Potiphar's wife ambitious in their choice of plays. will come along. 20
The Guides' and · Brownies
NEWS SUMMARY