SHORT-LIVED COMPANY.
THE HONG KONG
CORRESPONDENCE.
"The opinions expressed by the Failure of the Hongkong Turkish
correspondents are not necess
Hongkong Bath and Tollet Company. Before Mr. Justice Hazeland, arily those of the
Telegraph"]
in the Bankruptcy Court, thie (To the Editor of the Hongkong afternoon, in re the Hongkong Turkish Bath and Toilet Company Limited.
Mr. F. O. Jerkin, instructed by
Mr. F. B. L. Bowley, applied for
the
· Telegraph). # MATHEMATICAL FORMULA
WANT D.
TELEGRAPH.
EXTRA
HONGKONG, FRIDAY, JULY 9, 1915.
PRINCE OF WALES' FUND.
COMPANY MEETING.
(Subscription List, No. 40.)
Royal Mail Steam Packet Company.
$298
Police, 9th Sab ... Collected from toxes at Blake Pier, Star Ferry Pier & Peak Trom Stations from 1st Jan- uary to 30th Jane.... Sir,The formula which you a compulsory winding-up order, supplied in response to my letter Mr. B. D. Harvey's Fund: The petition was as follows:- of yesterday appeara to work only Collected by Capt. C. A. Winding up in
matter when the series commences with Matton, Amoy :- of the Companies' Ordinance unity; otherwise it breaks down. Mr. & Mre, O.A. Malton 1911 and in the matter of The result can of course be Miss E. O. Sullivan the Hongkong Turkish Bath arrived at by assuming the eeries Mr. I. Gibson and Toilet Company Limited, to be complete and deducting the Mr. I. Noble On the petition of Lok Man Tak sam of the missing series from Mr. G. F. Matthews trading as Yang Chong and that of the total both calculated Mr. S. Wheeler Company of No. 15 "O" Welling according to the formula-but Mr. H. Cadian
this method, though practical, is ton Street, contractor.
hardly scientific.
J
(1) The Hongkong Turkish Bath and Toilet Company Limit- ed was on September 10, 1014, incorporated under the Companies
Ordinance.
(2) The registered Office of the Company was at 13, Queen'e Road Central,
!
I have heard, by the by, that lotteries conducted on this prio cipte are illegal in England. Is
this so?
**
tr
Youra, sto",
G.
Collected by J. J.
494
Mekay, Kongmoon:- Mr. & Mrs. Frank Smith Mr. W. R. MoKay Dr. J. A. MacDonald Rev. Duncan MoBae... Miss Agnes I. Dickson Dr. Jossie A. MacBean Miss Ethel C. Reid Miss Florence H. Langrill Mastor Jack McKay
481
The Company's Fleet and Investments.
steamers have been trading in what was the "danger zone
The policy of the qourt of in the South Atlantic, not one of directors bas sometimes been our steamers armed with guns bas. oriticised, and I think, therefore, so far been interfered with.- gentlemen, that now the time of (Cheers.) trial has come; you will be inter- ested to know how the policy adopted by the court has stood
lose
The Admiralty's Chartering
"Arrangements.
A good many oriticisms have
BISLEY IN WAR TIME,
Splendid Work for New Armies.
London, May 29.—Major-Gen-
The Annual General Meeting of the proprietors of the Royal the test. Would the company appeared in the Press as to the Mail Steam Packet Company was have teen in a better position low rates of freight allowed by aral Lord Cheyleamore, presiding. 21.26 held recently at the Cannon to-day if we had adopted “a,
street Hotel, Sir Owen Philipps progressive policy? I say, with the Admiralty for vessels requisi- at the meeting of the Nations K.C.M.G. (chairman of the com-out fear of contradiction, that the toned by his Majesty's Govern Rifle Association fo-day, said that answer is in the negative. At the rent. In some directions there from the outbreak of the war Ble- pany), presiding..
The Chairman said: Gentle present time we have rather over than a tendens to complain ley Camp had been turned into a In October last we issued 10 millions invested in shipping, below the rates that could have school of masketry and a training centre for the military force: an interim report giving a clear of which nearly 5-1/2 millions or been obtained for the vessels in The work had been continued statement of the position of the invested in our own fleet, and the open market, for employmsai | with the greatest success."
5
5
1
men,"
these rates have
however, express my view that
10
5
company's affaire se affected by 4-1/2 millions in allied steamship
5
10
the war. It is evident that this companies. The amount invested in the allied companies at the end interim report was explanatory în a large degree, for we have of the year was almost exactly
in ordinary commerce. I must,
00
.40
16.40
Collected by Miar Miss Walker
quare:
"
The school of musketry had
commissioned officers had attend-
the chartering arrangements of made excellent progress, and op received only one or two letters equal to the amount of our deben: the Admiralty during the prese to the closs of the last couresÁ NO
war have proved businesslike regarding the accounts submitted ture stock. The dividends re-
conducted with due regard to you to-day. Since I have been ceived from our interest in the and efficient, and have been fewer than 1,500 officers and non- to the nation's interests, ended the school, and of these chairman I have for 12 years been allied companies were consider
a desire, so far as was 251 officere and 140 non-com- with
missioned officers had passed able each year to report that the ably more than sufficient to pay
consistent with that interest; to
as instructors. About 120 company has been making steady the whole of our debentare inter- progress, and last year I was in a cat, and the various companies position to inform you that the are steadily writing down the act fairly towards the shipowner offered: 350 company was in a very sound book values of their floose. Al. (Hear, hear). It must be rememmissioned officers had passed as financial position." Much has though the results of the allied bered that an important element happened in the last 12 months, companice vary, as a whole they in raising froights to the presented to brigades of the New Pales of officers and ann-commissioned and the country is now in the have strengthened their position high level has been the enormous midst of the greatest war the during the past year, and the quantity of tonnage taken by the and in addition a large number value of these, investments is Admiralty from its ordinary avo- various statements that have now considerably higher than cations for war purposes. The officera had passed as instructora by the Admiralty has assisted, where offears and non-comie
world has ever known..
From
instractors and had been appoint-
to the Territorial Forces. Thera
3 appeared in the Press it may be the figure at which it atanda continusl withdrawal of toung was also a machine gun school
the
company's
book.
'been on a bed of roses since the If the propriotora wished this / along with other cansea, in grasioned officers and
policy to be reversed there would daally forcing up the general
5
assumed that all shipowners have in
15
5
war began, but this is very far
Mr. White Mr. Chapple Mr. Martin
8
from being an accurate account
10
Hongkong, 9 July 1916. (3). The nominal capital of the
[Owing to an error 30,625 was company was $27,000 divided printed in the footnote to our into 2,700 shares of $10 each. correspondent's letter instead of The amount of the capital paid 31,375. As regards his question up or credited as paid up is to-day, we gave the formula as it there would be used for calculating the $12,500 according to torn of the allotments filed on amount in a raffle from unity, to a certain number, It may be March 3, 1915.
(4). The objects with which the made to apply generally, however, Miss Square company was established was to if we let n denote the Bret nam Dr. Forsyth acquire and take over us a going bar, N. the last und T. the, num.T. A. L concern the business then carriedber of terms in the on under the style or firm name of the Paris Toilet Company, and all or any of the assets of the proprietor of that business in connection therewith and with a view thereto, to adopt and carry. without into effect with or modification (1) an agreement of September 3, 1914 between hair- Join Otio Sopiess,
dresser and G. K., Bratton,
a gories por S=(a+N)
Thus from 1 to 250, both num-Mr. Mauricio
bara inclusive:
04,
Mr. Uvery. S=(1+250) 31,375 Mr. F. Mackintosh from 10 to 250, both num-Mr. Douglas bers inclusive':
$ (10+250)=31,330.1 Collected by Mr. R. D.
ED. H.K.T. Cargo by the s. s. Karmala, Shipped per P. & 0. 8. Solicitor. (2) An agreement" Karmala" Voy 342/530. which dated Seplember 3, 1914 between shiled on July 3 is as follows: J. O. Sepiess and Katherine London 401 Bales P. Cocoon, Sepiews and the said G. K. 12,100 Pkges Tea, 102 Pkges. Rat Brotton on behalf of the company tan Core, 1,280 Rolls Mats and Mat- Ling 40 cases Chinawara, 13 cases whereby the employees agreed to serve the company on the terme Woodware, 4 casea Bambooware and conditions therein con 43 cases Bristles, 20 bales Raw- tained. (B). To carry ca the silk, 3 c/s. P. Effects, 1 c/s Old business of borbers, hair dressers, Documents, 3 c/s Silk, 6 c/s Opium dealers in perfumery and all toilet Glasgow, 14 cia Onmaware, Man requisites, masseurs, Turkish and
choster, 100 Bales Waste Silk other bath proprietors, dealers in Gibraltar, 1 c/o Silk Goode Lyons, tobacco and fancy goods and 95 bis Raw Suk Marseilles, 3581 ohemists and draggiste and all Pkges. Tea, 100 Bales Raw Silk, businers of a like or kindred de 500 Slaba Tin, 31 c/s Knotted scription and other objecta set temp, 5 cis P. Effects Port Said, forth in the memorandum of the 7 c/s Glass Bangles Suez, 10 o/ association thereof.
Punjum Silk.
which could be seized in execution. (9) The Company is unable to
(5) Your petitioner has done work and furnished materials for the company at their request as follows-October 13, 1914, to pay its debts. cost of erecting and supplying (10) In the circumstances it is bathrooms, partitions, frames etc. jost and equitable that the as certified by the architect, Uumpaay abould be wound up.. $3,033.50. By cash on ascouat $750. Balance $2,283,50,
10
5
FIL
Harvey: Mr. J. P. Scott; Haip- hong
26.00
$10
Staff Holt's Wharf, Kowloon
Herbert. Goffe, Esq., O.M.G. 12th Sab.
Capt. 9 C. H. Wilde Staff Cement Works, Kowloon
.Capt. Lossius
R, D; H. F. Bevington O..G. Fry
462862.538
10
***
80
-10
10
E. F. Lyle F. A. Coleman W. McKay...r A. E. Harvey
3
3
***
3.
Mr. & Mrs. McGrann .L, S. 3, 10 & H.B. 5,00
A, and F. M.
$
2.
50
of the position. Some companies, cspecially those owning tramp elcamera, did fairly well in 1914 and are now earning large profits, and some liner companies have also earned reasonable profits,
but this company is one of those
emergency.
investments at or above their book
While it
mon are
officers and non-commissioned be no difficulty in selling these market level to the advantage of trained in the ass of the michine
Admiralty purposes. the tonnage not requisitioned for gas, and up-to-date about 428 value, but this would not in our opinion be a wise policy to adopt. may seem hard that vessels should officers had passed through these
Reserves and Depreciation, continue to be requisitioned and a basie much
The camp and ranges were, We have also been criticised in remunerated on
below what they could sacare if the past for having devoted a"
their
classes:
of the New Armies.
Colonel Biobardsɔn gave an in- which had been done in masketry teresting account of the work
of which the expert trained at Bisley were responsible for the instruction at Bisley, as the roaut
training of something like 1.250- 000 men. Pall Mall.
large proportion of the earnings to left free, it could hardly be ex- also need for instructional work $74 liner companies which have had writing down our fleet and build-peated that the Admiralty, whose by the motor machine-gun train- to bear the fall burden of assisting up our reserve fands. I conotion has largely caused the ing centra, and the ranges had ing the country to carry on the eider this is answered by the factadvaaced rates, should follow the been engaged for the muskeity that to-day our reserves have market upwards and pay the ship. training of some of the brigades war, without receiving compen-
In one way and another the I think the eating advantages for the disatood the company in good stead, owner for requisitioned tonnage
company passed for free tonnage. abilities under which they have as, notwithstanding the ordeal the same rates as he could obtain been placed in this great national which the
through, the fleet stands in the Admiralty have chosen a fair members of council had been very books to-day at a very moderate middle course, and that ship busy in connection with the var work in various ways, and his lord Shipping Companies and the Port figure. We had a very bad year owners as a boly have no just either at the frout or in doing good
of Southampton. As you know, the company's in 1914, but the court of directors cause to complain of the treat
decided to carry on the sound ment they have received from ship thought that the National principal home port is Southamp policy of writing off full deprecia; the Transport Department of the Rifle Association had proved that ton, where we have a large ollication as usual. (Hear, bear.) We Admiralty. No doubt individual their convictions in the past re- with 120 clerke, also large en have written off the fall 5 per shipowners have suffered through garding rifle shooting had boon gineering works, stores, steam laundry, &a., with a total abore cent, depreciation on the first cost an expectional proportion of their based on good lines and that they 7.50 staff of no less than 1,400, and of our fest, and owing to the in- toanage being requisitioned, but were not an obsolete and old- where we have built up a valu-crease in the size of the fleet the the Admiralty are now, I under fashioned body adopting old able shipping connection without amount written off for depreciation stand, endeavouring, as far as is methods as some people considered any break in its continuity for is the largest amount in the com-consistent with naval exigencies, them to be.
Although we spread the requisitions as evenly over 70 years. Shortly after the pany's history. 8.10 commencement of the war the have unfortunately been unable as possible amongst all British to recommend the payment of a shipownere, making every ship- Government found it necessary 344.20 in the national interests to close dividend on the Ordinary stock, owner bear his fair proportion of
the vast majority of our pro- the burden.
The Company's Staff and bold who the port of Southampton to mer-
prietors
the War chant shipping. We, of course,
It will, I think, be a source of $863.88 do not complain of this action, alock as an investment can feel because to win the war must be that, with the exception of the re-
know that 1,094 of the employees 863,86 Carried forward
the first consideration of all, but daction in the reserve fund, the gratification to the proprietors to Already acknowledg-
ed Lista 1/39...$256,851.25I wish to explain our position for company is to-day in as sound a
your information. Of the three position ae it was twelve months of the company are now serving ago. We have bad many difficul. with his Majesty's forces both on $257,715.11 great shipping companies using ties to contend with, not the least land and on sea. (Cheers.) Several trade is an adventure and it Southampton as their principal of them being the great increase haudreds of the officers and men always will be; but we are living 657.00 pert, que company had only been in the cast of running our vations of our ships are at present in the in exceptional times, ~and~ I Monthly Subscriptions
a short time located in the port services without any correspond- Navy, and are to be found on think this year the proprietora me to War board bis Majesty's ships in the may reasonably sak Already acknowledg
ing increase in revenue.. and was possibly very little in-
some forecast North Sea, at the Dardanelles, make- 50,723.51 ed Lists 1/30
convenienced by being obliged insurance has also been a very and on the trade routes of the 1915. Well, gentlemen, there to return to its former home port heavy drain upon this company, world, besides those on our own is one thing I can definitely state. $51,380.51 of Liverpool, but the other two
as it commenced at 8 per cent, per $309,095.62 companies, of which this com-
pany is one, have loth aufered annum, and is still at 0 per cent. vessels now in Government service It is highly improbable that severely by the closing of Eonth per annum on the value of the ashospitalships, transports, & Imany different factors, all adver The actual amount addition, many minibera of accely affecting the company, should ampton to their steamors and the dislocation caused to the whole of raid for war insurance premiums staffs.are fightingou the Continent ever again happen in any one on voyages completed in the last and elsewhere. Naturally this has year as happened last year. We their arrangements for the corry-five months of last year amounted entailed extra work and pressure still have some difficulties to face, on thoas left behind, but all have but I am justified, and I say this to £85,000.
loyally and cheerfully borne the deliberately, in assuring you that ing on of their mail services. The Government bare appointed a "Committee for the Diversion of Two years ago I reported to you added burden. Whilst those of the company is not only through Shipping in Time of War," con- that on the auggestion of the Ad- our officers and men who are the worst of its difficulties, bat we sisting of three well-known gen-miralty we had fitted at our own serving with the Navy sterisking have more than turned the corner, tlemen, to deal with cases of this expense large guna (47in.), lent their lives for their country, I our net revennels inoressing, and
would remind you of the foot (not you may look forward with kind, and I hope when we put to us by the Admiralty, on our always fully realized or appreciat sonable confidence to much id« forward a claim for the actual loss mail and intermediate steamers the company has sustained by the trading with the Argentine, and ed) that those who man our proved results for the coming merchant ships are daily facing year. (Cheers). I shall be pleneed olosing of our home port of Bouth- the example we set in this rea- Bijou Theatre.
ampton, that it may receive sympa peot was followed immediately by risks and perila unknown before, to answer any questions. I now A and I consider they deserve the beg to move That the report of On Saturday a remarkable thetio consideration. (Hear hear.) several other companies. picture, entitled "The Secret of Having been turned out of South-though we were much criticised highest praise for the way in His Lordships it necessary the mysterious X" will be soreen-ampton, our mail steamers have at the time by a section of the which they have stock to their to make any other reference to ed at the Bijou Theatre. The film been feroad to use Liverpool and public, who were then less able duty. (Hear, heaz.) (8) On or about March 12, 1015 the appointment of a liquidator. is an eight-part one, ten thousand London-at both of which ports appreciate the true position and April 6, 1916, the bailiff of Mr. Jenkin--No, my Lord feet in length, and is, wo under- we have had many difficulties to with reference to Germany than this Court distrained upon the nothing farther.
stand, a most dramatic and power contend with when using such they are to-day, we have been goode of the Company. After
His Lordship will make an ful production, magnificent in accommodation as was available more than justified in the action Tayment of the said distraints no order for the winding up under every detail. It is produced by the Port of Liverpool being we took with your approval, as
very congested;
Although most of the company's goods of the Company remained that section,
the Dansk Biograf Company.
Mr. Jenkin said this was an application for a compulsory (6) The company is indebted to winding-up, the patition bad been your petitioner in the said sam duly advertised and the Registrar of $2,283.50. Your petitioner had been satisfied that all the has made an application to the requirements of the Ordinance
of had payment Company
complied thie debt, but the company and after hia Lordship had has failed and neglected to beard the petition he would pay the same thereof.
for
boen
with
...
$290.117.47
Balance in band $ 18,078.15
N. J. STABB.,
Hoa. Treasurer.
or any part sak bis Lordship to make an orRemitted to London:--
der for the winding up of the
22/12/14 £17.000 (7) On or about November 11, Company under Section 130 of
at 1/9. 5/16 22/3/15 1014, your petitioner daly com-the Companies Ordinance. His
£7.000 at 1/91 and menced and prosecuted action No. L-rdabip would see that it was
1/10 28/5/15 £2.000 203 of 1914 in the Original incorporated in September and
at 1/94 Jurisdiction of this Court against had been an extremely short- the Company for the recovery of lived Company. Since the land- the said debt. The company lord had distrained for rent on appeared to the writ in the said April 6 the Company had carried action and your petitioner on on no business at all. The Hongkong, 8th July, 1915. March 28, 1915 recovered jadg-petition WB8 no! disputed ment in the said action against because judgment went by the Company by consent for the consent, The Compiny wвa un- sum of $2,283 50, being the able to pay ita debts because after amount of the laid debt and $50, the landlord's distraint there was agreed costs. The said judgment nothing left on which execution is wholly unpaid and unsatisfied, could be levied. and the amount is justly due and Owing to your petitioner.
steamere.
Steamers Armed with Guns.
for
the directora and the acoonots and meeting be and the same are hore balance sheet submitted to this
The Outlook:
by received and adopted, and that As you know, I have in the a dividend of 2.1/2 per cent, leand past made it a rale at our annual income-tax (making with the meeting never to give any forecast terim dividend 6 per cent, for of the coming year I have year) be and the same is her always told you that the shipping declared on the Pee