נן
PAID UP CAPITAL TO
BE REDUCED
Resolution Finds Approval
With Shareholders
Several resolutions were passed at an Extraordinary General Meeting of shareholders of Messrs. Lane Crawford Limited hold at the Company's offices at Exchange Building.
One of these resolutions was "that the paid up capital of the Company be reduced from $900,000 (divided into 150,000 shares of $6. each credited as fully paid) to $750,000 (divided into 130.000 fully paid." Another was that shares of $5.- each credited as the authorised capital of the Company be increased from $750,- 000 to $1,000,000.
||
The meeting was presided over by Sir William Shenton while others present were Messrs; J. H. Tazzari. E. M. Raymond, A. W. Brown (Manager and Secretary), E. J. Davies, O F. Ribeiro. 'Jr., A, M. d'Eca, F. C. Barry, P. H. Suckling, and C. B. Brown.
After the secretary had read the
notice convening
Sir Witlam Shenton said:
Gentlemen. The
reasons
Explanatory
Note attached to the Notice con- vening this Meeting gives a cum- main prehensive resume of the
which
actuated ..your Directors in recommending the re- organisation of the Company's Capital as embodied in the Re- solutions, and there is little left for me to add in relation thereto.
I would, however, state that as a result of the investigations carried cut in conjunction with the Com- pany's Auditors, your Board have come to the conclusion that the following writing down of Assets is necessary:
FIXED ASSETS
1. Bakery and Cold
Storage Plant
$16.528.42 2 Fixtures and Fittings. 20,473.95
3. Restauran: Utensils,
etc.
4 Motor Trucks and
Cycles
STOCK
Diminution caused by
19.274.95
2,023.47
$58.300.74
obsolescence, deteriora- tion and rise in ex- change
342,005.52
$400,306,28
THE PLANT
Storage Our Bakery And Cold Plant is old and out of date, and 1.the Company is to maintain its position of supremacy in Bakery products, and cope with the re- quirements for further Cold Stor- age facilities, it is essential that up-to-date plant should be acquir- ed in the near future.
The amounts proposed to be written off Fixtures and Fittings, Restaurant Utensils. etc.. will re- duce these Assets to what you Directors and Anditors consider to be reasonable present day values.
The matter of reduction in value of Stocks will, I feel sure, be readily appreciated. The adverse" conditions of trade obtaining in the Colony for some time past have materially affected the" spending power of the public. Consequent- ly, stocks have not turned over at the normal rate, and redundancy has resulted. In addition to this there has been diminution in the value of stock on hand owing to a considerable rise in exchange since date of purchase.
The items I have dealt with amount in all to the sura of $400,- 306.26 which is $250,306.26 more than the amount by which it is proposed to reduce the issued capital of the Company. The excess will be dealt with by trans- ference of $250,000.00 from General Reserve and a transfer of $308.26 from Profit and Loss Account.
HONG KONG
DAILY PRESS, THURSDAY, SEPTEMBER 26, 1935.
HEADQUARTERS LOCAL WEDDING- URGENT APPEAL
FOUND
For Police Reserve
Davis-Price
Price and Mrs. M. F. Price, be-
A quite wedding was solemnised yesterday at St. Andrew's Church, when Miss Nancy Margaret. Price, The Indian Company HK.P.R.daughter of the late Mr. Frank M. which was formed in 1926 and which has been rendering very good public service in the Col-
has ony
hitherto been at # Headquarters as a result of which Its meetings and classes have far been held in the Headquarters of the Chinese Company.
BU
The Company felt the need of a Headquarters of its own acutely. and a movement to acquire, ene for itself was started some time ago. Now, through the generosity of Mr. J. H. Ruttonjee, a flat (free of rent) in No. 20 Ice House Street has been placed at its disposal for use as a Headquarters.
The Committee gratefully ackriow- ledge the following donations for $900,000 (divided into 150,000 equipping and furnishing the pro- shares of $6 each credited as ful-mises.
is
ly paid to $750,000 (divided into 150,000 shares of $5 each credited as fully paid) and that such re- duction be effected by cancelling capital which has been lost or unrepresented by avaliable assets to the extent of 31 per share in respect of each of the Baid fully paid shares of the Company-of $6 each and by re- ducing the nominal amount of each share from $6 to $5."
This resolution was seconded by Mr. P. H. Suckling and passed unanimously.
OTHER RESOLUTIONS
I now move the following Ordf- nary Resolutions:-
Feroz All
M. Abdullah
K B. Sheikh
A. Hamid
Rattan Singh
Nam Din
50,00
20.00
Hardit. Singh
20.00
Khushi Mohamad
20.00
Chanan Singh
20.00
Sahib Khan
20.00
Mohamad Din
20.00
Sultan Ahmad Nur Ahmad
15.00
10.00
Shekh Gulum Mohamad
10,00
Abdul Shakoor
5.00
Kandhara Singh
5.00
5.00
5.00
5.00
5.00
Iman Din
5.00
Abdul Rehman
5.00
Ghulam Hussain
5.00"
Messrs. Khair Mohamad
1
Bros.
25.00
Syed Maqbool Ahmad...
20.00
Master Mohamad Din. H.
K.S.R.A.
H. S. Rathour & Co.
Chand, Malak
15.00 20.00
Indian
Store
P. D. Gotla & Co. Utoomal & Assudamal
&, Cd. Sedick & Co.
20.00 30.00
50.00 10.00
·25
Chief Warder Rehmat
Khan Inspector Fazal Ahmad.
H. K. P.
5.00
10.00
Inspector Surain Singh
H. K. P.
A. A. Tarwafa & Co.... Kayamally & Co.
50.0 10.00
20.00
C. Rahim & Son.
J. P. Vasunia & Co.
K. 8. Pavri & Sons
That Immediately on the afore- said proposed reduction being con- armed by the Supreme Court of Hong Kong:
(a) The said 150,000 shares of the Company reduced to $5 per share credited as fully paid shall be consolidated in such manner that every two ahall constitute опе $10 share credited as fully paid.
(b) On such consolidation
aforesaid no shareholder shall be entitled to a fractional cer- tificate but the Directors shall have full power to make such provisions by sale or otherwise as they think expedient for the case of fractions:
(C) On such consolidation as afore- said the existing certificates of
ali issued shares of the nomin- al value of $8 each shall be called in by the Directors and cancelled and new certificates shall be issued.
(d) The authorised capital of the
Company shall be increased from $750,000 consisting of 75.000 shares of $10 each credited аз fully paid to $1,000,000 by the creation of 23.000 new shares of the nominin value of $10 each, such new shares to be issued at such time or times and for such purposes and on such terms and conditions in every respect as the Company's Board of Directors shall in their sole discretion consider to be in the best interests of the Company, Mr. A. M. d'Eca seconded the above resolutions and there being no disentients, it were carried
This closed the business of the meeting.
1
2,000 SCIENTISTS MEET
the
(Special Air Mail Service,
London, Bept. 6. Scientists from all over country and from other parts of the world, arrived at Norwich yes- TO INCREASE CAPITAL It is proposed to increase the au- terday for this year's meetings of thorised capital to $1,000,000. In the British Association.
Dr. W. W. Watts delivers bis this relation your Directors are of the opinion that the opportunity | presidential address to-day. Phy- should be taken to obtain the ap- sicists, mathematicians, chemists, proval of shareholders to such in-economists, engineers, psychologists crease of the authorised capital of and agriculturists will be sitting the Company in order that as and before him. Lord Rutherford is when the opportunity so occurs due to speak later in the confer they may forthwith proceed to ence on recent advances in nuclear issue the whole or part thereof the physica.
main object being to effect a re- Professor Dame Helen Gwynne- cuction, of the mortgage indebted-Vaughan will be one of several ness against which the landed eminent women dona, and there property of the Company is under will be many other famous scien- hypothecation..
tic people in a total gathering In conclusion, I would reiterate probably exceeding 2,000,
In the hundreds of papers to be that your Directors feel that in recommending this reorganisation read almost every subject will be they are acting in the best in- touched upon, from the Polar re- terests of the 'shareholders, with a glons to the songs of birds and the view-to-placing the Company on herring problem. Television will a sound financial basis and con- be talked about, and science will solidating its position at this discuss what it can do to solve the
traffic problem. juncture,
(I not beg to formally propose
M 8. F. Raus, secretary of the
the following sheclat Resdlution—Football Association, will be among "That the paid up capital of the speakers at a discussion on the Company be reduced from physical education.
N. Mohamedally & Co. 20.00
20,00
·10,00 30,00 O. K. Glduniai Watumal 20,00 20.00 Pohcomull Bros. Watanmal Boalchand... 25.00
$625,00
AUSTRALIAN GIRLS
(Special to the "Hong Kong Dally
Press" (Copyright).] ..
Shanghal, Sept 17.
Church In Need Of Funds
An urgent appeal for financial aid was made at the Third an- nual meer.ng of the 6th District of cams the bride of Mr. John the Kwang Tung Synod of the Hector Davies. The bridegroom church of Carist in China, which is the son of Mr. W. John Davies. was held in the Church Hall Mr. Rupert Baldwin A.T.C.L. of the Unto Church, Kennedy organist for the St Andrew's Road, yesterday.
| Church: rendered appropriate musle throughout the ceremony. which was taken by the Rev. H. c. Davies, Army Chaplin.
The duties of Matron of Honour were carried out by Mrs. Agnus E. Duncan, and after the cere mony, the friends of the happy pair, went to No. 5 King's Park Mansions, held.
:i
where, receptioni
NEW BANANA
Experiments In Trinidad
Was
(Special Air Jai Servicn
London, Sept 6. discover a new An effort to variety of banana was described to the delegates to the Imperial Botanical Conference at Burling- ten House, London, yesterday.
The difficulties of the search and of the transport of tropical fruits generally were discussed in a paper by Dr. C. W. Wardlaw and Mr. E. R. Leonard, both of the Imperial Colege of Tropical Agriculture
at Trinidad. During the past de-
banana
and
The report of the Evangelistic Work Committee
was read adopted. The meeting was held in Chinese, the Rev. H. R. Wells acting as Interpreter. It was stated that a donation of $488, by the London Mission Society, was gratefully re- ceived, yet in spite of drastic economies that had been enforced throughout the year under review. a balance of only, $47.98 was being carried forward.
Three years ag: the Church of Christ in China took over the work from the New Territories Evange- iza on Society, which was formed by the church members of the Union Churcia and To Tsal Church Hop Yat Church) thirty years ago. The work consisted of lending books and preaching the gospel, and in spite of the great handicap ad- of lack of funds, splendid vancement in all fields was report- ed to the meeting.
The meeting closed with a prayer.
AT GENEVA
(Special Air Mail Service)
London, Sept. 6. The Council of the League yes- terday left aside the other items
of its long programme and went
cade, it stated, banana investiga-straight to the Italo-Abyssinian tion had centred round the search dispute, which Mr. Eden called a for a variety of banana to replace vital test" of the efficacy of the The British the Gres Michel or Jamaica banana, League machinery.
an eloquent the chief variety of commerce. representative made whose continuous cultivation over appeal to the other member-States -wide areas had virtually been pre-to find a peaceful settlement, in cluded by the onset in equidemic accordance with the "new inter- form of, Panama disease. It was nations order" which they were create. The ma- one of the paradoxes in nature all trying to that this particular banana, thoughchinery of the new order, he said, was there at Geneva; if the spirit highly susceptible to discese, was in all other respects almost uni- was there too they could not fall quely suited to the conditions of M. Laval also firmly advocated the use of the machinery of the Lea- bulk storage and transport reduir- ed. It was not easily replaceable gue. more especially for the pur- pose of conciliation. Unfortunate- by other varieties.
ly the hope that one of the, two Investigations on the keeping quality of possible substitutes, ex-parties would co-operate was to be Aloisi as soon as Baron tending over six years, had chiefly dashed
delivered an served to accentuate the collective rose to speak. He advantages possessed by the Gros Indictment of the other party. Michel. A note of optimism, how-maintained unyielding opposition ever, might be sounded regarding to the Franco-British proposals. certain hybrids which had been and showed no inclination to take obtained in Trinidad. by crossing advantage of the League's good offices. The aspirations of Italy a wild seeded variety of
were treated with sympathy by with the Gros Michel,
the British and French represen- OPEN TO CRITICISM
and their statements of "The first hybrid variety," the | tatives, paper continued, "is open to criac- the nature of the plan proposed ism because it yields occasional to Baron Alcisi in Paris last month seeds. As these are exceedingly made a considerable impression,
-The Council's task of mediation hard, pebble-like. structures, on which even the most avid banana is at least freed from one ham- consumer would not desire to eng-pering incubus. The thanks of all age his dentures, more than once, it friends of peace are due to the Thirty charming Australian girls has not been considered expedi- American State Department for its en route to Japan to make an ex-ent to recommend this trult to the timely intervention with the Stap- dard Vacuum Oil Company. With- tensive goodwill tour, spent an trade, active day in Shanghai yesterday. But the second immané hybrid out the surrender of the Rickett Arriving early aboard the Presi- is seedless. It shares the Gros Mic- concession the basis of the com- dent Grant, the girls were met at hel characters, has fine texture and promise proposal must have been the dock by Mr. W. G. Crokam, pre-flavour, but individuals tend to be impaired. Haron Aloial's response sident of the local Anzac Society, rather short. It has been ascer- to Mr. Eden and M. Laval yester Mr. V. Gordon Bowden, Australian tained that to some extent this de-day did not hold out much hope Trade Commissioner, and Dr Fong fect can be overcome. To biolo-that an amicable settlement could Sec. representing the Shanghai gists and those interested in the te built upon it. Thus the first Rotary Club.
banana industry the achievement day's proceedings set out the dis- of fundamental importance is that pute. In its known, and bleak - such a close approximation to the tractability. On the other band, as our 8pecial Correspondent says, Gros Michal can be obtained from
the attitude and the aims of the appropriate'breeding experiments."
BRITAIN'S FRUIT BILL British Government have been The fact that the apple is a liv-placed beyond doubt; M. Laval's ing organism giving off carbon speech goes far in its concurrence dioxide which, if permitted to ac- with the British standpoint; and cumulate, would eventually result there are other members who have in the suffocation of the apple was yet to give their views. They are mentioned by Mr. H. Turner, who likely to be impressive in their described some of the problems of unanimity. It cannot be described the storage and transport of New as unexpected that the attempt w Zealand fruit... He spoke of reach conciliation by way of prac- the immens amount of time, tical proposals again met with a John Brenan, British Consul-Go-
thought, and moneyT which plain rebu, M Laval and Mr. neral, was given the opportunity had been spent in scientific work Eden nevertheless rightly pledge of bidding the youthful visitors on behalf of fruit preservation themselves to continue to the end There was no more valuable forma in the effort to make the methods In the evening the entire group of close land settlement than of compromise prevail. was entertained by the Shanghai | fruit-growing and no more worthy Rotary Club at a theatre party he objec. on which time and money fore returning once again to the should be expended, ship which will
carry them to Japan. China United Prezz —(by mail)..
A tiffin at the Royal Air Force Association clubrooms in the Hong Kong and Shanghai Bank Build- ing was tendered the party by the Anzac Society. In a short talk Mr. Crokam bade them welcome, adding that it was also with pleasure that he welcomed the new Australian Trade Commissioner, Mr. V. G. Bowden, and the Assistant Com- missioner, Mr. A'L, Nutt,
In the late afternoon Sir Victor Sasscon entertained at bis country residence. At this function Str
welcome..
PRINCE RETURNING
London, Sept. 24. The Prince of Wales. who has been staying at St. Wolfgang, near Balzburg, left to day for London. He is returning by way of Munten British Wireless.
who presided, said that the future Taking comparisons from the of the low-temperature “research fruit bill of the United Kingdom, station at the Imperial College of Mr. Turner said that imports alone Tropical Agriculture in Trinidad of raw fruit has risen from a yearly was uncertain. average of 713,000 tons between The conference passed a resolu- 1909 and 1913 to 1,350,000 tons in jtion expressing the view that, the 1934, In the first period the pro-research station was engaged op. portion of Empire-grown fruits nvestigations of great value not included in the imports was only 15 only from the scientific but the per cent; it had risen to 45 economic view and hoping that means would be found to provide per cent in 1934.
Professor V. I Blackman, dir- the financial assistance necessary. ector of the Biological Laboratories to enable it to carry on its fune- of the Imperial College of Science tions. and Technology, South Kensington,
The coriference then adjourned.
GOLF
SHOES
NOW THE COOLER WEATHER IS APPROACHING ONE'S THOUGHTS. TURN TO
GOLF
AND THE BEST SELECTION OF
GOLF
SHOES
AT PRICES FROM
$12.75
BROWN, BROWN, AND BEIGE, AND WHITE
CAN BE PROCURED FROM
LANE, CRAWFORD, LTD.
LADIES' SALON.
PHONE 28151.
STOCKTAKING SALE
AT
ANDERSON'S
COLUMBIA RECORDS-
25% discount off
SETS MASTERWORKS AND ALBUM SPECIAL SALE OF DANCE RECORDS
3 FÖR ONE DOLLAR
The Anderson Music Co., Ltd.
Ice House Street.
Tel. 21822.
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by
NO QUARTER
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A SURE "SPECIFIC
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