HONGKONG DAILY PRESS
Finance and Commerce
CHINA PROV MOVEMENT OF GOLD AND SILVER
L. & M. CO. LTD.
The following is the report of the Board of Directors for the year ended December 31, 1938 to be presented to the shareholders at the forty second annual general meeting of the Company to be held 10 the Jacobean Room of the Hongkong Hotel, Hongkong. "Saturday, March 25 1939, at noon.
un
The Directors have pleasure in presenting to the shareholders their forty second annual report. accounts and balance sheet, duly audited, for the above period.
After providing for all charges and creating adequate reserve against contingent losses the net profit for the year was $558,056.50
which to
the must be added balance brought forward from .1937, $92,886.00, making a total of 3648,942.50 now available for ap- propriation, which the Directors recommend be dealt with as fol- lows:-
To Pay Dividends in accuf- dance with the terms of
the appended, Special Resolution, absorbing
To Pay a Bonus to Staff at
the discretion of the Directors
$312,292.41
15.000.00
To Transfer to Equalisation
of Dividends Reserve 150,000.00
To Transfer to General Re-
Kerve
To Carry forward to 1930
Account.
100,000.00
GOLD
Total Experts from the United Kingdom
The United States Including to:
Switzerland
The Netherlands.
British Africa' Egypt
Total Imports into the United Kingdom Including from: Peru
London. March 3 (Reuter).
Week-ended
22/2/39- 1/3/39
£
£ 7,591,000. 6,204,000 7,269,000 5.911,000
32,000
145,000 115,000
42,000
1,494,000
Australia
38,000 689,000 175,000 157,000
Southern Rhodesia
56,000
79,000
Switzerland
59,000
78,000
Belgium
26,000
British Africa
72,000
New Zealand
59,000 59,000 29,000
SILVER
Total Exports from the United Kingdom Total Imports into the United Kingdom!
The United States Including to:
37,000
94,000
France
58,000
The Netherlands..
Australia
Belgium
Hongkong
H.K. STOCK EXCHANGE
The market continued fra with 71,650.09 buyers predominating. Sales were reported in. Banks at $1400/1415, $648,943.50 wharves at $117, Lands at $364. Directorate; in accordance with Trams at $17.10. Electrics at $58.65 the Company's Articles of Associa- and Dalry Farms at $25. tion, Messrs. P. M. Hodgson and
Buyers N. V. A. Croucher retire, and being eligible, offer themselves for re- election.
Auditors: The accounts have been audited by Messrs. Linstead
Davis" and Messrs. Percy and Smith, Seth and Fleming, who offer themselves for re-election.
SPECIAL RESOLUTION. The following resolution will be proposed as a Special Resolution:
That dividends at the rates here. Inafter mentioned be "and are hereby declared on the issued and fully paid up Shares in the Company's Capital in accordance with the rights thereto altached, ie
(A) On the 294.789 Consolidated of H.K.$6 each credited us Shares fully paid up, on January 1, 1938, thereinafter referred to 14 MAH Shares a dividend at 10 per cent. per annum together with a Bonus of s per cent per annum equal to the sum of H.K. Dollar Cents Seventy-five each. Consolidated (B) On the 147.395
Shares of HK.35 each credited as full paid up on April 1, 1938 (herela after referred to as "B" Shares) & Dividend at 10 per cent. per annum together with a Bonus of per cent. per annum equal to the sum of H.K. Dollar Centa 61.875 each.
And that such dividends he paid on Demand at the Registered Ofees of the Company to the Shareholders en- titled as
under:---
(1) As to Shareholders holding "A" and/or "B" Consolidated Shares only. such dividend hereby declared shall be payable wholly in cash.
(2) As to Shareholders holding “A”. and/or "B" Consolidated Shares and also one unconsolidated share of H.K. $2.50 fully paid up (which has not been consolidated inusmuch as only two such shares can be consolidated into one Consolidated share as fol lows:
fa HK.33 for where the Share holder is owner of both "A" find "B" Consolidated shares then H.K.36.) the total dividend payable shall be applied by the Company on behalf of the Shareholder in the purchase from 5. M. Churn, Esq. (as Trustee for the Shareholders concerned) » of such Fractional Certificates for one half of "A" and/or "B" Consolidated Share as may be required to perralt the final consolidation of the Share- holder's holding, and the balance of
An
Canton Insurances, $220. H.K. Fire Insurances, $185. HK. Wharves, $117, HK. Docks (Old), $17į.. HK. Docks (New), $161. Providents (Old), $8.45. Providents (Now), $6,30 Raubs, $84.
HK. Londe, $365. Realties. $5.20.
HK. Trame, $17." Yaumati Ferries (Old), $234. China Lights (Old), $8.70, China Lights (New), $5.60. Electrics, $581. ·
Sandakan Lights, $10.20. Telephones (Old), $231, Telephones (New), $7). Canton Ices, "$1. Cements, $15.90. H.K. Ropes, $4.10. Dairy Farms; $253.- Watsons, $7.90.
Wing On (HK), $41§. Entertainments, $7.
Vibro Piling, $0.
Govt, 4% Doan' 34% Prem. Marsmans (London) 15/6, " Govt. 34% Loan par.
Sellers
Hongkong Banks, $1400/1415. Union Insurances, $480. H.K. Wharves, $117. H.K. Londs, $364. HK. Trams, $17.10.
Electrics, $58.65. Dairy Farms, $26/26).
PHILIPPINE MINES
Antamoks Pa., 40 Atoks Ps. 36 Baguio Gold Pa., 27 Benguet Consol Ps., 13.60 Coco Groves Ps., 45. Consol. Mines Pa., .003
1. X L. Ps., .66 San Mauricio Ps., 1.92
Demonstrations P... *
United Paracales Pa., :67
FINANCE
SHARE MARKET
REVIEW
(BY C, A. L. RICKETT) Secretary, Hongkong Sharebrokers” Association
Evidence of a more stable out- look. In the European political situation was responsible for some return of confidence to the local market. With an increase of en- quiries an all round' improvement of prices Inas been recorded. Although holders displayed a re- luctance to sell at quotation prices shares were obtainable wherever buyers were prepared to increase their bids.
HK Banks changed bands at $1,410 and HK. Fires at $135. Trams came in for most atterition and far business has been re corded at $16.75 to $17.15. Bec- trics advanced to $58.75 with fur- ther enquiries at this pries. Hotels changed hands up to $8.90 and further shares could be obtained" at this figure. Yaumati Ferries 51,000 were warited at $241 without` at- 402,000
tracting sellers, Lands changed .177,000 bands at $364 with. further en- 61,000 quiries at this price but no sellers. 32,000 Dairy Farms advanced to $25 and 32,000 Cements to $16. Providents, in spite of the announcement of an 23,900 20,000 attractive dividend. have remained
neglected
SUBSTANTIAL BALANCE
Gold Mining stocks have been quiet although this section of the market has been steady thoughout the week. For the most part prices show some improvement over the previous week's levels. San Mauricio closed at P. 1.88. after touching Ps. 1.93, un advance
ctvs and United Paracale at 66 ctys,
Hongkong's Revenue of 10 centavos. IX.L. closed at 66
Increase
CHINA'S IMPORT AND EXPORT FOR JANUARY
A substantial credit balance of $14,541.402.09 for the Colony at the end of January, 1939, is revealed in the Government Gazette's Financial Statement on Revenue and Expenditure. This shows an increase of very nearly $1,000,000, compared with the balance at the end of Decem-. | 457. ber last,
The revenue for January was
CHUNGKING, Mar. 4 (Central) –––– China's total import and export for January amounted to $84,538, 530 and $87,435,073, resulting in an unfavourable balance of $17,103,
according to statistics released by the Shanghai. Customs.
$3,973,298.32 and expenditure was U.S. FLOUR EXPORTS
$2,994,131.20
Was
Revenue for the month $205,100 above that for the month of January. 1938. miscellaneous receipts increasing by, close on $80,000. The Post Office earnings Increased by $11,500 and licences and internal revenue were up by nearly $300,000. However, most of the other heads showed decreased revenues.
IMPORTANT ITEM
On the expenditure side. an'im- portant item was that of charit able services which cost $189.451.57 in January, compared with $143. 185.32 in January, 1938.
Military Contribution also show- ed an advance by $60,000 to $500, |000 but pensions were down from
$277.636.31 to $265,464.54. The F.W.D. also spent less, the month's expenditure being $145.622.21 35 compared with $170,049.37. "How- ever the Water Works spent $25. 519 more than a year ago.
Actually the total expenditure for January was higher than a year ago, being $2,394,131 as com- pared with $2,817,299.
|HONGKONG
SHAREBROKERS
ASSOCIATION
Volume of Business Transacted on Saturday, March 4 No, of Shares Price -742 $28.50
STOCK
Dairy Farms
Trus
25 26.25
17.05
the dividend hereby declared shall be MEXICAN OIL TALKS Philippine Gold Mining. Quotations
payable in cash
th
TO BEGIN. .
MEXICO CITY, Mar. 4 (Reuter)-- The first 'conference between Président Cardenas and Mr. Donald
(3) Provided that in the case of Shareholders under (2) above entitled to a dividend less than HK.33 (or HK$6 as the case may be) the Direc- tors may at their absolute discretion grant en ex gratia bonus of not 3 Richberg, representing the Stan- Coco Grove ceeding H.K.16 to any one
one Shar- holder in order that the consolidation dard Vacuum Oil Company, has Consol, Mines
Demonstrations
of the Company's Share Capital, as been arranged for Tuesday. required by the Resolution of the
50
Saturday, March 4.
Antamoks Atoks
48
36
Baguio Gold Benguet Consol
27
13.60
45
003
15
66
1.92
67.
Market Comment.Quiet.
Shareholders passed at the Extraor Mr. Richberg has come to I, X. L dinary General Meeting held April 20, Mexico for negotiations in con- San Mauricio 1938, may be implemented forthwith nection with the expropriated all United Paracales....
EXTRAORDINARY MEETING
An extraordinary general meet- ing of the Company.will be held at the Jacobean Room on the first floor of the Hongkong Hotel, Victo- ria, Hongkong on Saturday, Mar. 25, 1939, at 12,15 o'clock in the after- noon, or so soon thereafter as the annual general meeting of the Company convened for that day st noon shall have terminated, for the purpose of considering and, if thought fit, passing the following resolution as a Special Resolution, viz:
"The the articles contained in the printed document submitted to the meeting and for the purpose of iden- tification subscribed by the chairman therefore be approved and adopted na the Articles of Association of the Com- pany in substitution for and to the "exclusion all the existing articles
thereof,"
Note print of the new Arti- cles of Association may be Inspec- ted at the Registered Omices of the Company.
companies.
HONGKONG SHAREBROKERS'
ASSOCIATION
Volume of Business Transacted for Week ending February 3
Union Ins.
Lands Hotels
TO HONGKONG
NEW YORK, Mar. 4 (Reuter)- The Department of Agriculture has increased the flour export subsidy by ten cents per barrel to $1.15 on shipments from the Pacific Coast to China and Hongkong.
Howard Harding.
MONDAY, MARCH 6, 1939. —PAGE 11
LAMMERTS' AUCTIONS
Shumchun Rural Welfare
Centre
We need Rice and Vegetable Seeds
Fertiliser Farm Implements-Animals
for the "Refugee Farmers to return to
THE GOOD EARTH
Please send all monetary donations to:
Hon. Treasurer: Mr. J. M. Tan,
Oo Wong Tan & Co.,
Alexandra Buildings,
Des Voeux Road,
Hong Kong
All contributions in kind to:
Hon. Secretary: Mr. K. 8, Lo. C/o. Eu Tong Sen Ltd.,
109, Queen's Road,..
Hong Kong
Tel. 21988.
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UNITED DELIVERY CO., LTD. HONG KONG PREMIER TRÄNSPORT COY.
Phones.20908, 58556, 58557 & 59985
Engraving is the hall mark
Mr. J. Cartwrights.
18. Allorion Road
Powis Porter 8.
In these we Specialise
Samples available
at
of
VISITING CARDS.
If you wish to create a good impression
use our cards
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Quality.
PUBLIC
AUCTION.
TELE
THE Undersigned have received
Instructions
to sell by
k
PUBLIC AUCTION
ON
TUESDAY, the 7th MARCH, 1999.
Commencing at 2.30 p.m.
At their Sales Room, No. 35,
Hankow Road, Kowloon,
A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE,
Comprising:--
Blackwood Ware, Teakwood Drawing Room, Bed Room, Dining Room and Office Furniture, Örna- ments, Procelain, Glass, Bras and Metal Ware, Electric Table Lampe and Heaters, Gramophones and Records, Pictures, Cutlery, Cook- ing Utensils, etc., etc.
1 Radio Set
also
Motor Cycle with Side-car and Cover, Harly Davidson (good running order}.
On VIEW from MONDAY,
the 8th MARCH, 1939.
Terms: Cash on Delivery.
LAMMERT BROS.,
AUCTIONEERS.
PUBLIC AUCTION.
Hz Undersigned have received
instructions
THE
to sell by
PUBLIC AUCTION
WEDNESDAY, the 8th MARCH,
1939
Commencing at 9.30 am.
At Kowloon Naval Depot
OLD AND SURFLUS VÍCTUALLING STORES
Comprising:
Clothing, including Blankets and Serge and Ducks, etc. Remnants, Electro plate, Cutlery and Table Linen.
Lots may be inspected on
7th March, 1939
Terms of Sale-As detalled in Catalogue.
LAMMERT BROS. By Appointment. Auctioneers
to the Admiralty.
Mc. Gric B. Green.
90. Kurth Raghields
The EASTERN ELECTRICAL COMPANY.
GERRAND 2574.
FRIC GRAY.
PHORE CENTRAL 1700.
"GAMENA BITUKSIES.
PERT STREET,W.).
SERVICE TO READERS
T
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placed at their dispon!
will be
Mr Geoffrey & Matthews,
London ws.
".. STOCK
No. of Shares
Price
Hongkong Banks wi......
10
25
$1,410,00 475.00
Trams
8,150
18,75 to $17.15
Trams (April delivery)
600
17.45
7. Mayfair.
Electrics
600
57.50 to 58.75
100
38.25
2,000
6.70, to"
6.90
Dairy Farms:
425
26.00 to 28.05
Cements
1,500
16.00 to 15.90
Hongkong Docks (N;)
100
10.75
128
8.00
2,000
1.56 to
1,000
4/6/
20,000
Ps.164
2,009
.44
2,000
Telephones (0)
100
24441
22.75
Watsons voor Underwriters Marsman (HK) Demonstrations Antamoks Coco Grove
Mr. Donnis &. Spalding.
R. Pant & Bar Lid
ghorn Makers.
THE HONGKONG DAILY PRESS
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