H.K. ELECTRIC COMPANY REPORT GOOD YEAR
Increase In Output Recorded At Annual Meeting
A satisfactory year's work resulting in net profit, after pro- viding for depreciation, of $1,738,541,40 was revealed by Mr. M. T. Johnson (Chairman) at the Annual Ordinary meeting of the Hong Kong Electric Company Ltd. held at the company's offers yesterday morning?
The Chairman told the meeting that all the company's "In-" stallations continued to maintain a bigh state of efficiency and the severe typhoon which occurred on the Island on August 16 caused comparatively no damage to the property of the Com- pany.
In his speech seconding the Chairman's proposal for the adop-
HONG KONG DAILY PRESS, FRIDAY, MARCH 12, 1937.
-
KOWLOON DOCKS ST. PATRICK'S BALL AT
PENINSULA HOTEL
Profit Revealed In Annual Report
Lady Caldecott To Attend
The stage is set for the anonal Ball of the St. Patrick's So-" ciety of Hong Kong, to be held at the Peninsula Hotel to-night The Ball this year will be made unique by the presence of two Irish regiments in the Colony, the Royal Ulster Rifles and the Royal Inniskilling Filters, and members from both Regiments will give exhibition dances in the course of the 'evening,
The annual report of wie Hong Kong and Whampoa Dock Co., Lid.. states that the gross profit on working for the year ending December 1, 1936, is $53,024.27. After adding scrip fees and de- ducting interest, rates, Crown rent, insurance, Directors' and Auditors' tees and allowing the sum $133,- 435.76 for
деб depreciation,, the profit for the year 1938 is $435,-
The official arrangements are that at 9.20 p.m. the President 246.61, which, added to the amount (Mr. E. H. Williams), Vice-Presidents (Dr. G. W. Pope and Mr. brought forward from last year. T. Murphy) and Past President" (Mr. F. F. R. James) will assemb $88,243.78 leaves available a sumble at the main entrance of the Hotel to receive Lady Caldecott.
of $523,490.39, which the Directors recommend to be appropriated as follows: To pay a dividend of 8% per annum or 80 cents per share, $121,752; to transfer to Special Reserve Account, $300,000; to carry forward to new account, $101,738.- 39,
NO NEW INVESTMENTS On the Assets side. Investments tion of the report and Statement | remain practically, the same, no of accounts, the Hon. Mr. A. W. further investments having been Hughes said he felt sure sharehold- | made; the market value or ers approved the Beard's policy of your investments on December 31, keeping the Company's plant upį 1936. was less than the purchase
Directora.-K accordance with to date, as it was only by such | value by $5,827.75, which compares Article No. 96 of the Company's means that they could hope to with $102,302,76 at 31st December, Articles of Association, Messrs. D. continue to render to the public 1935.
Drummond and Lawrence Kadoo- the cheap
service and efcient
Cash at hand and on. current rie retire by rotation and offer which has always been their aim. account and Axed deposit was $2,themselves for re-election. Messrs.
242,167.39, an increase of $665,079.65 A von Hantsch and 8. T. William over last year.
son résigned their seats on the Board on going on leave, And Messrs. J. H. Jessen and T. Ram- say were invited to join. Subse- quently Mr. T.. Ramsay resigned and Mr. S. T. Williamson rejoin- ed on his return to the Colony These appointments require con- firmation at this Meeting. Hon. Mr. W. "H. Bell retired from the Board on leaving the Colony. Hon. Mr. Stanley H. Dodwell has been appointed. Chairman for the year 1937.
THOSE PRESENT Mr. Johnson, who presided was Supported by Sir Robert Ho Tung.
During the year we expended on Kt, the Hon. Sir Sbouson Chow, capital account $383,478, the prin- Kt, Mr. T. E. Pearce, the Hon. Mr. cipal items being payments in res- Stanley H,Dodwell, the Hon. Mr. pect or the extension to our Gen- J. J. Paterson Directors) and Mr.erating Station building, two new V. Sorby (Manager),
The following shareholders" were present:-
reinforced
concrete egal bins, which provide storage for 7,000 tons of coal, equipment for new sub-stations at Sassoon Road and Stanley, and a number of smaller works in connection with the feed-
Messrs. Lam Kwat, J. C. Dunbar, the Hon. Mr. A. W. Hughes, Messrs. Wong Chi-po, Ko Koon Fan, Capt. F. L. Brown, Mr. Leung Fat-tin,er and distribution system. The Hon. Mr. T., N. Chau, Messrs. Lo Kal-wing, -A. McKellar, N. M. Currie, Wong Ping-sun, G. W. Sewell, Chua Seng-choo, J. M. Jack
and A. Morris.
CHAIRMAN'S SPEECH
meeting the
the
Addressing enairman said:—
Gentlemen, The net profit after providing for depreciation is $1,- 738,641.40, and with $244.451.29
brought forward from last year we have the sum of $1,982,992.60 for' appropriation," On September 11, we paldi an. Interim -dividend of $1 per share absorbing $600,000 and with the balance we propose:--- Tu pay a final dividend
or $1.50 per share.ab- sorbing ......
To pay a cash bonus of 25 cents per share ab- sorbing
$900,000,00
$150,000.00 To place to Reserve ..... $100,000.00
forward carry next Account
To
to
$232.092.69
Bearing in mind that an addi- tional 150,000 shares ranked for dividend this year as
MACKIE'S WHARF Forty-eight ships discharged 42,- 300 tons of coal alongside" our Wharf at North Point. Incidental- ly you may be interested to know that this wharf has been named Mackie's Wharf.
Our property at North Point has been extended and greatly im- proved by the inclusion of land which
was formerly Shaukiwan Road and Power Street; you will remember that part of this land- was bought from Government in 1928 and the remainder in 1934.
offer
Auditors. The accounts have been audited by Messrs. Lowe, Bingham -and Matthews and Messrs. Percy Smith, Seth and Fleming who retire and themselves for re-election.
The ordinary yearly meeting will be held in the Company's Town Office, Queen Building, on Monday. March 22 at noon,
THEFT ALLEGED
be maintained in a high state of All our installations continue to emeleney, and i am happy to be Defendant Discharged
able to report that the
'severe
typhoon which the Colony ex- perienced on August 16, 'last caused comparatively little damage to the Company's property.
With a view to maintaining the high efficiency of our power plant, contracts have been entered into since the date of the balance sheet turbo alternator, and it is hoped for the supply of a 15,000 KW. to have this new plant in opera-
In order to
Before Mr. K. Keen at the Cen- trai Magistracy yesterday Chan Yeung. 31, was charged with the larceny of 56 from the person of a European.
In evidence, the Chinese detec- tive who made the arrest, said that at Chater Road he saw a rickshaw coolle helping a European into a
rickshaw and defendant who join- Defendant was chased and caught ed in to help extracted the money.
near St. George's Buildings when he had thrown the money on the com-road.
compared tion early next year. with last. I think you will agree facilitate the erection and opera- that the total dividend and bonus of $2.75 per share is not unsatis- factory..
tion of this plant it was necessary to extend the Station building, and this work is now nearing pletion.
The gross earnings are $41,488.03 less than last year, this is due to the lower rates for lighting and
I take this opportunity of record" power which came into operation the services rendered by the Mans- Ing your Directors' appreciation of on July 11, 1936. You will re- member that at the last Generarger, Staff and Workmen.
Meeting I mentioned that the cont of these concessions to our Con- summers would amount to about $220.000 per annum, but I am glad to say that increased sales of cur- rent for power have already par- tially offset the reduced rates.
In spite of considerable econo- mies which were effected in gen-
1 now propose that the Report and Statement of Accounts as pre- sented for the year ended Decem seconded by the Hon. Mr A. W. ber 31. 1938, be adopted. This was
Hughes and carried unanimously.
Seconder's Specch
The Hon. Mr. A. W. Hughes, in
Appearing on behalf of defen- -dant, Mr. F. X. D'Almada, Jnr., said that there was not enough evidence to convict defendant as defendant was seen by one detective for the alleged larceny while his arrest and throwing the money away was witnessed by another.
Defendant was discharged on the grounds of insuficient evidence.
LOCAL ESTATE
⚫ Chan Po, retired, who died at No.
་
The Rose Room is being tastefully decorated for the sc casion, the colour scheme being in the traditional green.
H. E. Major General and Mrs. A. W. Bartholomew, Hls Honour Sir Atholl and Lady MacGregor, and Bear Admiral and Mrs. C. G. Sedgwick, who will arrive at 9.38.
At 9.45 p.m. the President and North and Mrs. Taylor; Hon. Mr. party will be piped in to the Ball Edwin Taylor and Mrs. R. M. Hen- Room by pipers of the Royal Ederson, Hon. Mr. R. M. Henderson niskilling Fusiliers, as follows:- and Mrs. A. G. Bishop, Wing Com- The President and Lady Calde-mander An .G. Bishop and cott; H. E. Maj-Gen. Bartholomew | Mrs. Eldon Potter, Mr. Eldon and Lady MacGregor; H. H. Bir At- Potter, K.C.. and Mrs. R. M holl MacGregor and Mrs. Sedg- McLay. Lieut-Col. R. M. Rodwell wick; Rear Admiral C. G. Sedg-
and Mrs. F. P... R. Jamies, wick and Mrs. Bartholomew; Dr. Major R. Cox and Mrs. R. M. Rod- G. W. Pope and Mrs. James Mr.well, Mr. V. M. Grayburn and Mrs. F. P. R. James and Mr: T. Mur-} B. H. Colltä Hallowes, Mr. B. H, phy: Capt. W. J. R. Cragg, A.D.C., Collis Hallowes and Miss Brearly, and Lieut. J. P. Howorth, A.D.C. Hon. Secretary and Hon. Treasurer.
OFFICAL GUESTS The following oficial guests are requested to assemble on the, arst floor, in the Green Room beyond the west lifts and, headed by pipers of the Royal Inniskilling Fusiliers, will follow the President and party in procession to the supper room!--
Mr. R. M. McLay and Mrs. G. W. Pope, Mr. D. F. Davies and Miss Alabaster, Mr. A. Brearly and Mrs. T. Murphy, Mr. T. Murphy.
Ladies' cloak rooms will be in room Nos. 609 and 610 while the card room will be on the mezzanine floor.
At the request of members of the Society, the Hong Kong and Yau- mati Ferry Company have extend- Mr. F. P. R. James and Mrs. Red their vehicular ferry service A. C. North, Hon. Mr. R. A. C. until 2 a.m. on Saturday.
WEDDINGS
TRESPASSERS FINED
has been arranged A wedding
Three unemployed Chinese, Ho and will take place shortly between Yik-lung, 32, Ho Ping-kun, 21, and Eduardo Alves, merchant, living at Ho Ping-lin, 27, were charged be- "Valverde," No. 302, Prince Edward | fora "Mr. W. Schofield at the Cen- Road, and Ines Maria de Lourdestral Magistracy yesterday for tres- Soares, of "Temple Tower," No. 38, passing in War Department Stubbs Road.
ground near the Old Magazine, The forthcoming wedding is also and the unlawful possession of 100
announced between Edward Lee, cattles of coal last Wednesday.
clerk, medical department, residing at 20, Pelho Street, and Lillian
hang or 153, Yee Kuk Street,
Shamshulpo.
GAELIC IN
WHITEHALL
Scots Garlic has at last beeg dropped as an optional subject in the examination for the clerical classes in the Civil Service, states 'Evening Standard."
The decision may cause pain to tionalist movement, but the plain one section of the Scottish Na
fact was that last year, of 3830 boys and girls entering for the examination not оде offered Gaelic. i
included The language was not included in the examination on the ground that it was ever likely to be need- ed in the work of the Civil Service. The idea was rather to give a fair chance of success to children born in the Highlands or the Hebrides, and speaking Gaelic as their mother-tongue.
Sgt. Shepherd of the RAS.C. appeared as complainant.
Defendants were each fined $10 or one months' hard labour on the first charge and $50 or six weeks' on the second.
DEATH OF VISITOR FROM AMERICA
Wednesday evening, in his room at The death occurred suddenly on
the Peninsula Hotel, of Benjamin Francis Johnston, a round-the- Colony earlier this week. together world traveller, who arrived in the
with his wife.
The deceased was 71 years of age and came from Pennyslvania.
Arrangements for the funeral have not yet been completed and it is not known whether the re-
or interred locally. mains will be sent back to America
DOCKYARD COOLIES IN BRAWL'
Welsh retains its place as a
Three out of 10 dockyard coolies subject, and was offered
ered by 16 who were aghting with bamboo candidates last year
poles in Pedder Street about 7.45 am. on Wednesday were arrested
eration, and lower costs of coal seccnding, the proposal, said: 39, Wongnelchung Road, Happy ST. JOHN AMBULANCE and charged with the offence...
the profit on working shows a fall- ing off of $150,058.31 most of which is due to the comparatively low exchange rates which prevailed throughout the year.
Mr. Chairman and Gentlemen, In rising to second the mation be for the Meeting I feel confident that I voice the views of Share holders when 1 affirm we have latened with satisfaction to the Chairman,
DEPRECIATION ALLOWANCE We have set aside for deprecia-speech that you, Mr. tion a total of $897;328 which, al- have just delivered. though the customary conservative scale has been adhered to, is some what less than in 1935.
The output from our plant at North Point was 53,990,031 units, an increase of 5,176,408 units, or 10.8 per cent. over the previous year's working. This increase is again entirely due to larger sales of current for power.
The fall in the sales of current for lighting purposes, which has been noted on hot previous oc- casions, has continued, but I hope that with the return of more pro- sperous times our revenue from this source will once again take an upward trend,.•
The increase of over 10 per cent. in the output of our plant is most gratifying and may be taken as a proof of the very enclent" and cheap service which we render to the public,
Valley, on January 10, 1937, loft BENEVOLENT BRANCH R. Keen at the Central Magistracy
local estate sworn at $7,100. A petition by Chan Lin-kai, mer- chant, for granted of probate of the will has been approved by the Supreme Court.
St. Vincent de Paul Ceremony
A large gathering of members of the St. Vincent de Paul Society not al gathered at the Catholle Cathed ways apparent to the layman, but rat yesterday afternoon;
This cheap service is
at the present rate of exchange our "After assembling outside the charge to the smallest consumer' Church they entered to hear works out at two pence turthing Benediction by the Rev. Father and three farthing per unit for 8pada, the rector of the Cathedral. light and power respectively. These low rates must compare favourably
with any similar electricity supply of keeping our plant up to date. undertaking and. Indeed, with as it la only by such means that many concerns of much greater we can hope to continue to render output. I belleve I am correct in to the public the cheap and em- There was a satisfactory incrense saying that in one of the largest clent service which has always of 1,718 in the number, of meters fianufacturing towns in England, beenfour alm connected as compared with an in- where the generating station has The results of the year's opera crease of 716 in 1935, and this the advantage of fuel supplies be- tions reflect credit on the Directors, brings the total number of meters ing situated almost at the pit head, Agents and Staff, and I offer them connected to our mains to 40,615. the corresponding rates are four my congratulations, an
Turning to the Balance Sheet, pence halfpenny and three half- you will observe that the Reserve pence respectively. Furthermore, now stands at $1,800,000,, a de- I understand; in one of the largest crease of $1,100,000, You will re-elties of India the respective rater member that yet the last meeting are a little more than twopence you approved the placing to Re-halfpenny and three farthings per serve of $400,000 and the capitalisa tion of a portion of our Reserve amounting to $1,500,000.
unit
I feel sure shareholders will heartily approve the Board's polley
When they appeared before Mr.
yesterday all defendants pleaded
fendant, it appeared that second guilty. According to the first de-
and third defendants attempted to snatch from him a pass which en- abled him to work in the dockyard: 'All defendants were bound over.
during February by the St. John' The return of cases treated Ambulance New Territories Medt- cal Benevolent Branch shows a grand total of 7264 At Cheting Chau an anti-natal clinic has been started and they have had 11 cases to date. An infant wel fare centre has also been started minor operation Both nurses at with 35 infants attending. The the Tsun Wari clinic suffered at- the tacks of malaria and one was re- matron was admitted to Government. Civil Hospital for a 'moved to the Kowloon Hospital.
14.1
Traffic Accidents Weekly Return
THE S
Two tram-car passengers were injured while alighting from mov- ing tram-cars.
were
of the 47 accidents,
In the Colony of Hong Kong in- cluding the Island, Kowloon and the New Territories during the week ending at 8 am on Satur- day, '? Márch', '6," there" were" al--{'collisions between vehicles; 15 were together 47 traffic accidents, as the collisions between vehicles and injured."," result of which 15 persons were pedestrians, and a accidents were
que to other causea.""" Of the persons Injured, 11 were Type of Vehicles Involved OTHER BUSINESS"? pedestrians, who were either walk- Private Motor Car Proposed by Mr. A. Mckellar anding or running across the road and Motor, Lorry seconded by Mr. Loung Fat-tin, Mr. were struck by vehicles
Public Motor Car T: E Pearce and the Hon. Mr. J. J Paterion were re-elected Directors, struck and injured by a bag of Motor Cycle
A Chinese male, was accidentally Motor Bus Mesifa. Linstead and Davis were cotton falling from a motor lorry. Tram-car re-elected auditors on the proposal "One Torry passenger was infured Bicycle of Mr. J. C. Dunbar, seconded by through falling from a moving Ricksha Capt. F. L. Brown.
motor lorry.
Tricycle
No.
27
11
CARLTON
CRAB, LOBSTER AND CURLED LETTUCE WARE
MODERN STYLISH
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Charming DECORATIVE
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CROCKERY & GLASS DEPT
A GLASS OF
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H. HONDA & CO.
TEL. 20720.
40, JOHNSTON ROAD HONG KONG.
FOR SALE Provisions, Groceries, Wine and Spirits.
at exceptionally low prices at HUNG CHEONG,
86, Nathan Road, Kowloon (Phone 57108).
ON DESI
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