2
HONG KONG REALTY
AND TRUST COMPANY
"
No Dividend Recommended
ANNUAL GENERAL MEETING
No distribution of profits to shareholders was announced by the Chairman, Mr. T. E. Pearce, at the annual general meeting of the Hong Kong Realty and Trust Co., Ltd, held in Exchange Building yesterday morning. A recommendation for conservation of the Company's cash resources was further emphasized by the Chairman whe pointed out that it has been found necessary to curtall expenditure where possible.
Among those present were:--Mk, T. E. Pearce (chairman), Sir Shou-son Chow, Mr. John Fleming, Mr. P. K. Kwok and Mr. J. H. Taggart (Directors); Mr. F. C. Barry (Secretary); Messrs. P. C. Putts, C. Blake, P. H. Suckling, A. M. d'Eca, and B. Kitchell,
CHAIRMAN'S SPEECH
In his speech, the Chairman said:
It will be observed that the pro- Alt for the year under review amounted to $9,654.26, which, add ed to the amount of $48.107.54 brought forward from the preced- ing year, makes available for ip- propriation the sum of $55,861.80, which your Directors recommend be carried forward to next year's
account.
ge being accorded the resort. Charges were reduced during the Summer, and the prices now charged are extraordinarily reasonable for the accommodation provided and the excellent catering service avati- able. Revenue in the Winter months has considerably exceeded that of the comparative months of last Winter, whi would appear to indicate that the "Lido" is be coming better known to visitors passing through Hong Kong. re- The profit for 1938 is appro-sultant upon the extensive adver- ximately $14,000 lower than the tising efforts which the Company previous year, in which connection has made outside the Colony. perusal or the credit aide of the Profit and Loss Account shows that revenue by way of Dividends on Investments declined by $4,000 on comparison with the year 1935: the absence of any mention of rents received is accounted for by the transference of such working income to its proper place and is included in the Balance of Work ing Account figure.
BANK INTEREST INCREASE The item of $7,786 has been brought to credit, being the total of the dividends unclaimed for the. perlod of five years after having been declared; such action is in accordance with the authority given in the Company's Articles of Association,, To offset this for- tuitous credit, however, certain items of special expenditure pre- vlously held in suspense, viz: $8,- 240 and $2,535.39, as detailed in the Profit and Loss Account, have been written of at the 31st Dec. 1st. Taking other items on the debit side, the Balance of Work- ing Account 18 appreciably lower than the 1935 Balance. Bank In- terest charges increased by some $6,300 due to the comparative higher overdraft carried through- out the year. Depreciation has Increased by $5,300 over the 1935 figure, which is attributable to the provision in that respect on the "Lido" Asset, a charge which now appears for the first time..
INCREASED RENTALS Turning to the Balance Sheet, I would submit there are no charges appearing to call for particular comment, with perhaps the ex- ception of the expenditure under the heading Furniture, Fixtures and Sundry Equipment" the major portion of which was incurred in the furnishing and equipping of one of the Bungalows; the just ncation for this expense is reflect- ed in the increased rentals which the premises have, since been en- able to earn. "Investiments at. Cost" appear at practically the same figure as that last reported, Dut 2 marked appreciation shown in the market values, the mcrease' 'recorded in this connec- tion being approximately $221,000,-
15
The Company's bungalows at Re- pulse Bay have been in great de- mand during 1936, and at times there has been a waiting list. This Is mainly attributable to the vast improvements effected in the sur- roundings which became possible on completion of the Lido Scheme. As opportunities have occurred. thorough renovations have been carried out in these buildings, which also have had The effect of attracting tenants. In this con- nection I am pleased to add that the 1936 results show an increase of $3,000 over the previous year's earnings.
NO DIVIDEND
Your Board regrets that the re- sult for the year under review does not permit any recommendation for a distribution to Shareholders. It is recognised that prevailing circumstances call for conserva- tion of the Company's cash re- sources and make necessary the curtallment of expenditure where possible; in the latter relation measures already have been taken to reduce Administrative Expenses the current year, by $5,000 for whilst your Directors have reduced their fees from $1,000 to $800 per annum.
In conclusion, the
Chairman proposed the adoption of the re- port and accounts for the year
W
HONG KONG DAILY PRESS, THURSDAY, MARCH 11, 1937.
DEATH INQUEST SCOUT Chinese Succumbs To
Beating
An inquiry into the slicum- stances surrounding the deatři of Li Cheung, about 30 years old, known to be unemployed of no fixed abode of Kwu Yim Village, took place before Mr. K. M. A. Barnett at the Kowloon Magistracy yester- day, afternoon, when the following comprised the jury: A. Howard (foreman), S. Abbas.and Hu! Wai Pang.
Inspector Chester-wood was pre- sent for the policë.
Trishna Singh, B445, stated that he was on duty on the day in question und was on his beat along Castle Peak Road, near Lai Chi Kok Prison, about 8.45 a.m., when
he saw the body of the deceased.
wrapped up in a sack,
Witness said he examined the body and noticed that there were
many bruises.
NOTES
the
ANNUAL MEETING AT HQ.
HONG KONG SINGERS
Special Coronation Programme
The Hong Kong Singers have begun active rehearsals of the two- works which will form their. special Coronation Recital, to be given sometime early in May. The works are Elgar's "Coronation Ode" and Dyson's "In Honour of the 'City." Aa at their last' suc- cessful presentation of "Elijah," the Singers will again be accom- pailed by full orchestra and will be under the conductorship of Mr. Lindsay, A. Lafford, F.R.C.O.. LRAM. ARCM
have
The "Coronation
Ode" is A Scout, who was on his way to India presents no particular dimculties, straightforward setting for B.A. the absence of the Chief TB. Soloists and Chorus, which to attend. the All-India Scout The Dyson work, however, is a Jamboree at Delhi, Lord Hampton, new departure for the Singers. It Chief Commissioner, presided over is a highly original setting of a ARRESTS 'MADE
Annual General Meeting of 15th century poem by William Detective Inspector Carey, the the Council of the Boy Scouts Dunbar in praise of London, "of next witness, stated that acting Association held at the Imperial all townes a per se,” distinctly on information, on February 21 Headquarters in Buckingham Pa- modern in manner and presenting last, Cheung Fan, 32, unemploy-lace Road, Landon, on January 29. fut factory along Castle Peak from Lord Baden-Powell was read: ready familiar. The Chorus, now a number of problems with which èd was arrested at the Lee Wah The following ship telegram the Singers are probably not al- Road. Inquiries were made and desire to congratulate Preerer, has tackled the work with Fan Ngok was also arrested insident and you on past year's gen- enthusiasm, and though only two connection with the death of the
eral progress, especially in
allrehearsals deceased...
Overseas Dominions and India and held, they have already made good hitherto been Inspector Carey added that he notably among African Natives.
progress. went to the Lee Wah Mui preser-The effective work of Imperial
"Rehearsals are held every Tues- ved fruit factory and found that Headquarters coupled with per day afternoon the walls around the back of the sonal interest of the King gres Church, Kennedy Road, at 5.30 at the Union place were very low and it was
every promise of further successes
New members. pm very easy for a person to climb
to come.
especially over and get in the premises.
tenors, will always be welcomed. and applications for membership can, if desired, be addressed to the Hon. Secretary of the singers, Mrs. A. R. Addison, No. 8. Almai "Another year has passed by, villas. Kowloon; or the Chairman. and once again I send to the An- Professor L. T. Ride, c/o The Uni- nual Meeting of the Council of versity. Further coples of the the Boy Scouts Association my works concerned will shortly be most cordial greetings. Both the available at the Tang Fook Piano beginning and the end of 1936 Co., Marinase. brought much sorrow and sadness to our country. Let us hope that 1937-the year of the Coronation of our King and Queen-may bring happiness and prosperity to our landand throughout the Empire.
од
Cheung Fan stated that February 17, about 2 p.m., Be went with the deceased to the Lee Wah Mul factory to steal He added. that he actually saw the deceased climb over the wall, carrying a rice sack with him.
DECEASED'S INJURIES Witness said he heard cries as he ran away without telling the deceased "When I went to the deceased's hut later in the morn- ing." witness said, "I found that he was very badly hurt. Be (de- ceased) did not tell me what hap- pened, but stated that he was badly beaten. I left at once to get some medicine and called for in the hut just too late. The my cousin Fan Ngok who arrived
deceased died without saying any- thing so we wrapped him in a sack and tied it up with rope and left the body on Castle Peak Road."
Wong Lin, 29, of the factory. stated that he was asked to keep B watch that night for thieves. Wong said, "Early that morning saw the deceased come in the round of the factory so I rushed
Later
ANOTHER MESSAGE A message Was also
received from ERH The Duke of Con- naught, in which he said:
"It is very gratifying to learn that the total increase in the num- bers of the Boy Scout Movement throughout the Empire during the past year is 12,717, and I am also glad to hear that a good deal of useful work has been accomplished during the last twelve months.
1938, and that the balance of $55,-out and struck Him with a rod. I that he has given in encouraging 661.80 standing to the credit of only hit him (deceased) twice and Profit and Loss Account be carried called out to Li Ping, another
C. Blake seconding. forward to the 1937 account Mr. C. foki, who later came out of the
premises and assisted me. there were about seven of us in the chase. The deceased got away again, and I was afraid to go near him for I thought he might have a weapon. I did not intend to kill him but only struck him in order that he may not do it again."
Sir Shou-son Chow and Mr. John. Fleming, retiring Directors, were
re-elected on the proposal of Mr. P. C. Potts. Mr. P. H. Suckling seconded the motion,
Proposed by Mr. A. M. d'Eca, and seconded by Mr. E. Kitchell, Mesara. instead and Davis, auditors, were re-elected for the current year.
MR. W. ELLIOT
AS "POET""
Africa, which establishes a definite link between white, coloured, in-" dian and native boys.
A GENEROUS GIFT Lord Hampton also voiced the Association's gratitude to the late Lady Houston for her gerieraus gift of money which will assist in the upkeep of the "Discovery."
He
He spoke of the events of the year ahead, and mentioned the big "I rejoice that His Majesty King job which had been allotted to the George VI has consented to be- Scouts of the Empire in the selling come Patron of our Association of Coronation programmes. and I am sure that he will take mad pecial reference to the big the well-being and advancement of summer in Washington, USA, and the deepest interest in promoting Jamiee which is to be held this this Movement. We are already remarked that Great Britain were well aware of the great support sending forty-eight boya.
The World Jamboree in Holland all sports, and in helping the pro-was an event to which the whole gress in physique among the youth Movement was looking forward, of the country.
and as the President. remarked, tulate the Movement on the ac-world record by sending 8,000 boys "I wish, particularly to congra- Great Britain was establishing a during the quisition of two Camping Grounds
to this great International gather- past year, one the
ing Windermere, the other Broadstone Great Tower Plantation above
Manor, East Grinstead.
It was reported that the Coun- first we are indebted to the gen-cil had lost three highly valued erosity of Mr. W: B. Wakefeld, and members, Admiral of the Fleet for the second to Mr. A. R. Wagg Earl Jellicoe, G.C.B., OM., G.C.V.O., of the Manor House Trust.
the Rev. J. H. Bateson, C.BE, Hon AN IMPORTANT YEAR
C.F., and Mr. Rudyard Kipling. "This year is going to be an in-
The following were elected to All A Chinese female, Wang Yuet,
portant one for us. In the first the. vacancies in the Council: Bir place we shall have the opportun-Phillip Game, CBE, KCB, USO., 30, received injuries as the resultity of being of general service to of a fall down the staircase of her
Mr. F. O. Paul, J.P., Mr. G. M. house at No. 30, Wing Lee Street early yesterday morning. She was Hospital for treatment.
The hearing was adjourned.
FALL DOWN STAIRS
JU, indicative of the emer tone Revised Version Of conveyed to the Government Civil being organised on
which prevailed in the Local Share
Market during the year under re-
.view. ・・
Miller's Daughter
to
Mr. Walter Elliot, Secretary of
C.B.A. DANCE
pire.
For the
COUNCIL ELECTIONS
اومة
the community in the undertaking Carter, and Mr. A. R. Wagg. to distribute Souvenir Programmes
THE ACCOUNTS on Coronation Day. This effort” is
Si James Leigh-Wood, Hon. an Empire Treasurer of the Boy Scouts Asso- basis, and has been taken up en-etation, rose to second the adop- thusiastically throughout the Em- tion of the report and accounte With regard to the notation ap- pearing in the Balance Sheet set-
Py hope that the World Jam-state of the Income and Expen- He referred to the very serious <ing forth the expenditure watch the Company is committed State for Scotland, gave his ve A committee meeting was held success, and that we shall be able to the extent of over 28.225.
boree, which is taking place next diture Account which reveals an in the amount of $152,000 cover-alon of the poem, "I remember, I by the Central British Association to send to
August in Holland, will be a great excess of expenditure over income ing R. B. Lotz 366 and 367, I would remember," at a Literary Lun-in their clubhouse at King's Park which will be the largest move detall on various items in the ac- explain that of this amount, the choon at Grosvenor House Leon Tuesday evening, when it was ment of boys that we have ever count, and remarked that the
it scrie 8,000 boys,
Sir James went into considerable sum of $120,000 is in respect of cently. Building covenant requirements
decided that a dance would be attempted, and also the largest heavy expenditure was solely due and the balance of $32,000 is "advice" to authors, had said that held very shortly, Because of the that has ever taken place from one to the great expansion of the payable as a contribution towards the writing of poetry was much large attendance at the last dance country to another. the cost
Government more difficult to-day than it used larger hall for the coming fune- good accounts of the health of the possible to see how any scorpules
arrangements will be made for a of certain
"I am so pleased to hear such searching examination, it was im- Movement, and after the most works should such works be sub-to be. sequently undertaken. In view, Lord Tennyson, for. mstance,
Chief Scout, who is now in India, could be made without the work however, of the fact the com- could write a simple lyric about
where I am..sure he will meet pany has expended a sum far in the miller's daughter. Nowadays excess of that stipulated in respect the poet would not be so interested of R.B. Lot 368, it is the intention in the miller's daughter as the of your Board to apply to Gov-muller's politica. ernment for a revision of the Again, there was the verse of covenant attaching to RB. Lots the childhood of most people:
366 and 367.
THE "LIDO".
Mr. Eric Linklater, in
BOJIU
I remember, I remember, the
house where I was born, The little window where the sun
came peeping in at morn "Nowadays," said Mr. Linklater, the little window would not be considered poetical, but unsani- tary.”
The "Lido" at Repulse Bay has now experienced a full year's working, with the result that apart from depreciation charges the revenus accrued has been suf- ficient to meet the expenditure, a position which can be considered Mr. Elliot said that the version not unsatisfactory in the establish- of "I remember" with which he ment of such an enterprise par was familiar was quite different. ticularly so as weather condiums ] It ran:
at times during the past summer. precluded a full measure of patron-
tion.
*
SERIOUS POSITION
with a very warm reception from of the Movement suffering. But I wakened in the morning the many, Ecquts of that great
an an alien lobby mat;
Empire” a And I somehow felt persuaded. though my feelings were not clear,
;,:; ..!
KO! THE KING'S INTEREST In propositig the adoption of the Annual Report 'and Accounts, Lord That Fd spent a merry Christ-Hampton touched briefly on the mas, and a prosperous New various events of the past year. Year
Mr. Elliot's version of the mil- ler's daughter, too, was different from the original version:
She was only a miller's daughter,
Bhe dwelt beside the mil Deep and clear was the water, But she was deeper stil." There was a good deal of tough- ness in Scottish authors of to-day, I remember, I remember, no Mr. Fillot said, and it was a good
thing, clearly after that,
thing
The Boy Scouts Association was living on its capital, and the post- tion was most serious
The Treasurer stated that the Association was not anxious to make a public appeal for funds-- He voiced the Association's grati- there were so many claims on
terest that Hla Majesty has shown fel-that as the expenditure could. tude to HM. The King for the in- people's pockets Co-day but ne
in the Boy Scouts Association by not be reduced without adversely consenting to become Patron, affecting the valuable work of the The Chairman also mentioned Moyement same steps must be an important visit of the Chief taken to increase the income. Scout to Bouth Africa during tih He remarked on the fact that ybar, and the result of that visit although the Boy Scouts Associa has had a great deal to do with tion Had literally miljons, of real the forming of the new constitu- friends, the amount of the annal tion of the Boy Scouts of Bouth subscriptions only totalled £300.
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