LANE CRAWFORD'S HAVE
POOR YEAR
Sir William Shenton Reviews
The Activities
Yon will observe that the Profit on working for the period under review amicanted to $81,364.93 as compared with $92,579.10 for the preceding year, or a decrease of $11,214.17. This de- elinë is attributable to diminution in turnover, consequent upon the prevalent depression coupled with the rise in Exchange and the repercussive effect these factors · bring to bear upon the spending power of our clientele,” said the Hon, Sir William Shenton who presided at the thirteenth ordinary yearly meet- ing of Messrs. Lane Crawford, Limited, beld on Saturday morn- ing, on the first floor of Exchange building.
Ч
Supporting the chairman 'wore the following members of the board of directors: Meara J. H. Taggart, ́E. M. Raymond and E.".. J. Davies and the following' shareholders. Lt. Col. H. B. L. Dow biggin, F. W. Stapleton, F. C. Barry, P. H. Suckland. O, F. Ribeiro 'Jr.. A. M. d'Ecz
Chairman's Speech
Addressing the meeting Str particularly to the decision of William said:---
Gentlemen,
the
Betore proceeding with ordinary business of this Meeting. I desire, on behalf of your Board fr place on rerord an expression of profound regret at the death of Mr. J. P. Warren. The late Mr... Warren joined the Board of this Company in March 1929, and served thercon until shortly prior to his death. During his period of office on your Directorate, Mr. Warren rendered valuable service to your Company, and his passing ergenders a genuine feeling of regret.
:
The Report of your Directors and Statement of Accounts for the financial year ending 28th
'February 1935- having been in your hands for the prescribed period. I propose, with your per- mission, to treat them as read,
your Board to centralizë the Bakery in a portion of the Base- ment premises in Exchange Building, and
03 effecting the requisite transfer, to bring this important department of your undertaking up to date, replete with the latest and most hygienic. equipment.
<l
HONG KONG DAILY PRESS MONDAY, JULY 1,
THE SANITARY BOARD
GOVERNMENT HOUSE
At the meeting of the Sanitary | Sunday, Juhe 231– Board to be held to-morrow a let- The following lunched at Govern- ter from the Government relativement Honse; Wing-Cdr. D. L. Scott, to, the election of Dr. Li Shu Far D.SC., Squ. Edr. C. R. Keary, RAF £15 a member of the Sanitary Board for a term of three years, will be considered.
Mr. Wong Kwong Tin, pursuant to potice, will ask!--.
"In view of the decision of the Board to refuse the registration of a Food Preserving Establishment at No. 441, Castle Peak Road, Lot No. 1588, on account of the fai- lure to surface a large drying ground with cement will the me dical Officer of Health kindly, say whether it is his intention to re--- commend similar conditions to all cases where fruit is dried out of doors in such establishments?""
The President, pursuant to no- tice will move an amendment to the Scavenging and Conservancy by-laws contained in Schedule B.. to the Public Health and Buildings
Ordinance, 1903,
Other routine business relating to applications for eating house Licences and regular returns wil also be transacted.
total of $35,013.38 available for appropriation, which
sum your Directors recommend be allocated as follows:--
·To Place to Reserve for Bad and Doubtful Debts
..$ 6,599.18
To Place to Reserve for Stag Passenges and
Contingencies......$ 6,498.81
To Place to Special Re
serve for Building
請
Improvements...$15,000.00
To Carry Forward to
next account ...$7,915.59
APPROPRIATIONS
STUCKS WRITTEN DOWN Stocks and Goods, Transit have been valued by the manage- ment at cost and appear at the figure of $709,330,98 Shareholders will observe, however, that in the Report of your Auditors, annota- Lon has been appended on the subject of the market value thereof,
Taking, serlatum, the headings consequent upon the appreciable advance in Exchange. of the proposed appropriations,
It is Ins matter has been receiving
the opinion of your Board the serious
that the Reserve for Bad and attention of your Board for some time past and, as
Doubtful Debts should be sux- mented to the extent indicated in a. result. it is the considered
MR. LALCHAND ENTERTAINED
Guest Of Sindh Merchants
L. G. C. Bladon, Fl. Lt C, S. Ricvard and Mr. J. B, B. HIL.
Mr. Lalchand Watanimal, the well. Hla "Excellency and Lady Sou-known Indian philanthropist. thorn, attended by the personal Municipal Councillor and Honorary stuff and "accompanied by the Magistrate for Hyderabad, Sindh, RAF Omicers of the Singapore who is on a business and health Flying Boats, were the guests at trip to the Far East was on Satur- tea or Sir William and Lady day night entertained with his Shenton.
charming wife to a dinner party by "Mr. J. · B. B. Hill arrived at Messrs; KAJ. Chotirmali & Co. at Government House. Monday, June 24:-
His Excellency, attended by Capt JE Cragg, AD.C., was taken for a fight round the Island in one of the Bingapore Flying Boats.
Capt. J. Hatfield of the as. "Aeneas" mughed at Government
House.
•
the Gloucester Restaurant,
Upward of Atty persons including the prominent Sindh merchants in Hong Kong and their wives partook of a sumptuous dinner.
'ד |
After the dinner Mr. G. T. Thadani, the General Manager of Messrs. Chotirmall in the Far East, who presided at the function said: Mr. Lalchand:-It gives me great pleasure to welcome you and your wife here this evening. We know how busy you are but notwith- Lady Southörn, accompanied by standing this you graciously hon- Mrs. Ho Leung visited the Governoured this function with your ment Civil Hospital,
Commodore 1. A. V. Morse had tea at Government House. Tuesday, June 25:-
His Excellency, attended by Mr. J. H B Lee, was present at the Rotary Tifan at the Hong Kong Hotel,
Lady Southorn, attended
by Capt. W. J. R. Grays, AD.C., and accompanied by Mr. J. B. B. HL was the guest of Vice-Admiral C. L. Chen at tea on board the R.ON. Flagship "Ning Hai."
̈Mr. J. E. B. HŴll left Government | House.
Wednesday, June 26:—
Mr. N. E. Young, M.C., of His Majesty's Treasury, arrived at Government House.
His Excellency received Captain A J. L. Murray, OHE, D.SO.
"The following lunched at Goy- erument House: Commodore and Mrs. C. G. Sedgwick, Vice-Admiral
Chen, Brigadier H. G. Seth- Smith, D.S.O.. Capt, A. J. L. Mur- ray, O.H.E., DS.O., Commodore” “J.
Mrs. Tratman, Hon. Mr. N. L. and A. V. Marse, Hon. Mr. D. W; and
wall, C.M.G., Commander Fons. Commander Chow, Mr. N, E. Young, MC and Paymir Lt Cdr, Sweny R.N.
The Report of the Auditors is as opinion of your Directors that the order that the same should stand. / Mrs, Smith, Hon Dr R. E. Kote
follows:--
most prudent course to pursue in
this
at a Agure of $10,000 as a precau- tionary measure against possible contingencies.
The
proposal", to. transfer $6,498.81 to Staff Passages Reserve is requisite for the reasons I have already indicated.
Thursday, June 27:---
His Excellency presided at meet- ings of the Executive and Legis- lative Councils
"We report that we have the circumstances, and particu- examined the Accounts of Lane.larly having regard to the nature Crawford, Ltd. with the Books of the business in which your and Vouchers of the Company Company is engaged, being essen- for the year ended 28th Febru- tially retallers calling for up to ary 1935, and have obtained all.
date goods and a quick turnover the
Information and explana-ot Stocks, is to write down stocks Reserve covering Building Im- The provision of 4 Special tions we have required.
to present day disposal values.
Lady Southörn, accompanied by "Stocks, as certified by the with a view to giving effect to is deemed advisable in view of the ing of the "Busy Bees" Working provements in the sum of $15,000 Mrs. Grantham, attended a meet management, are valued at cost, your Board's decision in whereas the present market matter, It value, as the result of exchange that steps should be taken to First Floor, consequent upon your Government House.
structural alterations undertaken | Party. is deemed expedient
In respect of the Basement and
Mr. V. M. Grayburn had tea at fluctuations since the close of completely reconstruct the Balance the Company's financial year, la Sheet of the Company, in which Board's decision-following vacat- Friday, June 28 considerably lower than the relation your Board is in consiling of the Basement premises by figure stated in the Balance tation with the Company's Audi- Sheet, Subject to these re- tors on the subject and it is to transfer the Restaurant and marks, we are of opinion that reasonably anticipated that they incorporate therein the new Cake Bakery to these premises and to Balance Sheet is properly will be enabled to lay their re- Department. In this connection drawn up so as to exhibit a true commendations before and correct view of the state of holders at an carly date.
Share-
It is proposed that rather than the Company's affairs according
Proceeding with the other items resort to amortization of such to the best of our informationi
on the Asset side of the Balance
capital outlay over lengthy sheet, it will be noted that Sundry period of years, it is preferable Debtors represent a decrease of that the cost of the requisite work
as compared with the previous year which, in the main, ! is attributable to the decrease in turnover to which I have previous
the
and the explanations given to us and as shown by the books of the Company."
<
DIMINUTION IN TURNOVER Turning to the "Accounts, you will observe that the Proft on
$25,382.40
working for the period under made reference. The decreases review amounted to $81,364.93 as under the various other headings compared with $92,579.10 for the are resultant upon the incidence preceding year, or a decrease of of depreciation a subject with $11,214.17. This decline is attribu- | which I have also dealt. fable to diminution in turnover, consequent upon the prevalent depression coupled with the rise in Exchange and the repercussive effect these factors bring to bear upon the spending power of our clientele.
TION
-DI
Mr. C. F. Strickland left Govern the Hong Kong Stock Exchange-ment House and sailed for Home
in the Empress of Russia.”
B
undertaken should be written oft forthwith from profits.
As a result of the transfer and
Lady Southorn opened, a sale of Prison Work at the Cheero, Club.
Lady Shenton lunched at Gov- ernment House. Saturday, June 29:-
His Excellency and Lady Sou-
thorn, attended by the personal stan, left for Mountain Lodge.
sion.
presence.
I am also pleased to see so many of my country people with us, on this occasion and am also honour- ed by the presence of Mr. and Mrs. Nairandus Pohoomull.
1
It would be beyond our scope to enumerate the various good quall- ties with which he is endowed and it is through his guidance, his fore- sight and abilities that the success: of his firm is so firmly established. It would be Invidious to mention the various philanthropic acts he had performed throughout his life,
Mr. Lalchand Walanmal
Mr. Lalchand is here this day
you all will join with me in wish- for reasons of health and I am sure,
ing him a quick and speedy re- covery. I am glad to see, however, that he has now improved a good deal and I trust the Almighty would grant him a full recovery."
Brothers and Sisters, I ask you ali to join with me in drinking to the health of our honoured guests.
Returning thanks on behalf of his wife and himself Mr. Lalchand sald;
Mr. Thadans, Brothers and Sister: My wife and I are thankini to you all for the honour which you have done us. I am happy tó see a gathering of so many of my own people.
I am afraid »Mry. Thadani has.
& profitable basis, but hitherto somewhat stretched the good deeds hampered by lack of requisite, which I am supposed to have done. floor space permitting of expan- Belleve me, what I did was part of my duty and I am sorry that I could not have done more. This reminder will act as an impetus to my future and I can assure you ali that whenever opportunity mocks at my door I will 'avail my- self of it.
In conclusion, I would express thanks to the staff for their loyal co-operation covering a period of much difficulty.
report was
I would very much like to meet. you all more often but for reasons of health I am afraid I cannot do so, I have improved a good deal since coming to Hong Kong and
must admit that the climate of this Colony suits me to a "T" I have
remain on these hospitable shores therefore made up my mind to
co-ordination of departments, it of those departments working on has been possible, as from 1st March last, to close down the Corner Shop in King's Theatre Building, thus effecting a saving of approximately $1,600 per month, and on completion of the change DEPARTMENTAL BEORGANISA~over of the Restaurant, which will be effective on 1st July next,
I now beg to formally propose Turning to the contra side of the whole of the First Floor will the Balance Sheet, certain
be made avaliable for office pre-
that the Report of the Directors patriation
mises, in which connection and and the Accounts for the financial of personnel, conse-
having regard to the continued year ending 28th February 1935 quent upon departmental re- Passing to the debit side on the organization, made necessary the popularity your Building enjoys by as presented, be adopted, and that the appropriations recommended Frofit and Loss Account, the only disbursement of $16,498,61 out of up to date accommodation, it is by your Directors be carried into
virtue of its central location and headings appearing to call for the Reserve created for that comment are Repairs and Re-purpose last year, in which con difficulty will be experienced in
reasonably anticipated that little effect newals and Depreciation in the nection it will be observed that in renting this space. The effect of The accounts and
SECONDER'S SPEECH case of the former item; à materi- the allocation of pront now pro the changes indicated will, apart. seconded by Mr. F. W. Stapleton al reduction in expenditure is based by your Board it is recom- from improving service to our who said: displayed vis-a-vis the ngures mended that the
patrons, reduce the rental charges We have listened with interest the сале of Depreciation, the mented by the sum of $8,498.01 in amount written off conforms to order to bring the amount stand accounts should resultantly bene for the second year to succession
Restaurant, and the
working chairman but I regret to note that our established practice based ing at credit of Reserve for Staff at appreciably. I may, incident there is no dividend available. upon the residual life value of the Fassages and Contingencies up to ally, add that it is proposed on declining assets as detalled under $10,000, thus making provision for
I hope that the proposed re- the relative headings in the contingencies maturing under this opening the Restaurant in. Its organisations of the Company will Balance Sheet.
heading.
new location, to revert to the bring the desired benefits with The Balance Sheet in your Mortgage indebtedness stands at tion and name being synonymous report and accounts as presented" and modern establishment and name of Cafe Wiseman, the loca these words I beg to second the were shown over the well-equipped hands, reveals few changes, and the reduced figure of $1,900,000 you will observe that the fixed compared with $2,000,000 at the
some twenty years ago,
OTHER BUSINESS"
everything painted to à miccesstül assets stand at the figure of end of the previous nancial $2,475,984 54, in which relation I period, being a reduction of $100,-
Throughout the year your Board Raymond as a director was conraise for the condition and state Thera-election of Mr. EM Career for that Cafe. Those pre- sent were manimous in their desire to draw attention to the 000.
has pursued a policy of strict armed on being proposed by Lt. fact that additions during the Sundry Creditors are lower by economy, both in capital erpendicoli Downlerin and secondca of the Cafe which included on year amounted to $6,728,03 only, $32,511.89 and these two headings ture and overhead charges, the by Mr. P B Sucking. evidencing the conservative policy read in conjunction with the full benefit of which is not re- pursued by your Board in the increase In-nósting – overdraft fected in the account
balance of
for a couple of weeks more.
It is indeed a pleasure to me to
covering previous years, and in $3,501.38 remaining be supple-carried by the Main Store and to the remarks made by our Bee Mr. and Mrs, Pohoomull with
STRICT. ECONOMY
matter of capital expenditure, amounting to 152,583.78 display view The Hardy Whilst dealing with this subject, a nett reduction in indebtedness Equipment and Sh however, I deem it opportune" to amounting to $79,048.13 for the Departmenta direct the attention of Share the holders to the fact that the neces-Th sity for replacement of certain of after,
our tzed asset in the animeciate amoun future" must not be overlooked. In el tó this commection -refer more from, thể
down by
of the ance of Nett Front such departments Applying depreciation
com tition have 15:323,584.88)
revious
is
this day
Once again I thank you for the hospitality" and honour which you have accorded to my wife and L
up-to-date Automatic Botting Pot," Messrs Anstead and Davis were re-elected auditors for the enam exfective and unique were
The decorations"
$1.750.00
the
Year at a
ILLUSTRATING
ONLY A FEW OF THE
BARGAINS
TO
BE FOUND IN OUR
SPORTS DEPT;
LAWN BOWLS
$35.00 Set
STEEL SHAFTED GOLF CLUBS 85.00 each TENNIS RACKET FRAMES
BILLIARD CUES
$3.00, $4.00, $5.00
$.3.00 each
SETS OF GOLF CLUBS
1.
5, CLUBS, CADDY BAG,
1, BALL, 1 PKT. TEES.
$20.00 LOT
LAWN
MOWERS GARDEN TOOLS
ALL 25% DISCT.
LANE, CRAWFORD, LTD.
SOME BIG SELLERS
by the
JH SQUIRE CELESTE OCTEL
DX 123-MEMORIES OF CHOPIN
9494 RHAPSODIE No. 2. 0287-VALSE CAPRICE DB1222-ANDANTINO® DBIOL-NARCISSUS.
DB 809-SOUVENIE (DRDLA)
Columbia RECORDS
The Anderson Music Co., Ltd.
Ice House Streat.
Tel. 21822.
PROGRESS
Belter Times are Ahead Are you ready to reap the benefit?
Only by consistently advertising your goods can you hope to rep the benefit that better busine conditions will certainly bring youard what better medium than the
SOUTH CHINA DAILY NEWS
(NAM WAH YAT PO)
Whose daily cirenis tion of £8,000
Chinese, Ing both
Kong
Bo Boath
A great favourite with young and modern expellence of its sporting rews and the South China Dally Newa is too
of your appropriation.
For Rates Apply To The Ad South China Daily News (Namah