LAND COMPANY MEETINGS.
Held This Morning.
The annual meetings of throg local property companies took place this morning, at the offices of Mesars. Jardins, Matheson and Co, Ltd.
Central Estate, Ltd.
The first meeting held, was the ninth ordinary meeting of share- holders of the Hongkong Central Estate, Limited. Sir Paul Custer, C.M.G., presided and there were also present the Rev. Father Ro- bert, Mr. D. G. M. Barnard, Mr. A. H. Compton (Directors) Mr. M.S Northcote (Secretary), Sir Robert Ho Tune, and Messrs. J. T. Bagram, F. P. Deacon, Lau Hin- nam and E Sadick (shareholders).
The Secretary baving read the, molice convening the meeting.
The Chairman said:-Gentle- men.-1 propose, with Four aunction, to take the report. balance sheet and auditors' report, which have been in your handa for some days, na read.
The net profits for the year amount to $160,238 72, us COM- pared with $159,156.93 for 1921, a year the profit for which was. sugmented to the amount of $13,825 31 by profits on sales of our holdings in shares, so that I think the result for this year may be considered very satisfactory.
Rent Account shows an in- crease of something over $15,000
THE HONGKONG TELEGRAPH:
FRIDAY, JANUARY 26. 1923.
DAIRY FARM NEWS.
Leopold Godowsky,
the world-famous pianist, who is to appear in Hongkong on Monday and Tuesday next.
and interest appears for the first, The remaining assets of the maining on mortgage has more tima since 1917 upon the Company
now consist of the than compensated for the de- credit aide of Prost and block of houses on the remaining creased rents.
Loss
Account, while general portion of K.M. Lot 49, standing! Turning now to the balance charges on the debit side are in Our boots at $53,000:sheet, you will observe that some $3,700 less than for 1921, immature mortgages amounting the amount invested in pro thanks to a lower expenditure in to $1,288,000; and some shares. petty is reduced by a little upkeep of our properly.
It is therefore the intention of over $150,000. This is due You will notice on the liability your Directors to wind up the to sales already mentioned. side of the balance sheet an item Company when the remainder of The Aกเวย invested ia Bargain Honey on Sale of Icland the property has been sold, and shares is $21,000 lesa owing to the Lot No. 2181. This lot comprises the mortgages, which fall due in West Point Building Co., in the building known as Prince's 1924, have been repait.
which we held shares, having Building, and it has been no secret It is with this object in vier been wound up. for some time that we have sold that in addition to the usual
Bargain Money on Siles this block on good terms, the sale dividend of 7 per cent. on the Pending, 837,908 30. relates to being due for completion at the paid-up capital, we are recom-certain uncompleted sales of pro- end of March next.
mending the payment of a bonus of $110. per share, which will absorb all the funds available at the present time. I trust this course will meet with your ap- proval.
The increase in our profits enables us to pay an additional și per share by way of dividend, making a dividend over the year of 10% upon the capital, a course of which I have no doubt you will I now big to propose that the approve, and we carry forward to report and statement of accounts this year's working the sum of a presented be adopted and $241,100.79, as against $180,862,- passed, and shall be glad if some 07 at the end of 1921.
shareholder will kindly second the proposal.
I now beg to propose that the report and accounts as presented Mr. H. P. White seconded the be adopted and passed, and when adoction of the report and ac this has been duly seconded I counts, which was unanimously shall be pleased to answer, to the agreed to.
best of my ability, any questions The appointment of Mr. Hector
hareholders may wish to put.
Sassoon and Mr. A. H. Compton! The adoption of the report and as Directors was confirmed on the account was seconded by Rev, proposition of Mr. A. 3. Ellis, Father Robert and unanimously seconded by Mr. Sadick. Their agreed to.
re-election was also sareed to. be- On the proposition of Mr. Lauing proposed by Mr. Bigram and Hin-card, seconded by Mr.seconded by Mr. Percy Smith. Descon, the appointment of Mr. Rev. Father Robert proposed, A. M. Bowes-Smith and Mr. A. H. and Mr. Rodgers seconded, the re- Compton to the Board of Direcelection of Messr, H. Parcy Smith and Bernard Brown as tors was confirmed.
Sir Paul Chater was re-elected Auditors for the ensuing year. at a to the Board on the proposition of remuneration of $75. This was Mr. Bagram, secunded by Rav. agreed to. Father Robert.
Mr. Northcote proposed and Mr. Sadick seconded the re-elec. tion of Messrs. H. Percy Smith sad C. Bernard Brown as audi
tore at the remuneration of $15); each.
Chairman Bouncing
vidend watran's werk ready.
¦
party, the profit on which will be taken into the current year's accounts.
After the accounts for 1920 had
been closed, a liability of $12,215 was discovered, and on the advice. of our anditors, this sum has been deducted from the moun carried forward from that year, and is shown on the balance sheet.
After payment of the usust in- terim dividend in July 1st the amount available for appropria tion is $3,939,700.49, which it is propssed to deal with as follows:- To pay a final divid
end of $5.00 per share $100,000 To pay a Bonus of
$5.00 per share 100,000.00
and to carry forward 3,231,700.49 8,000.00
To pay & Bonus to
Staff of
$0.939,700.49
This distribution by way of dividend and bonus gives the asme return to shareholders as last year. The only difference
is an increase of 81.00 per share,
in the dividend. making the
In closing the meeting, the dividend for the year 10 per Chairroan announced that divid-cent. on the capital instead of 9 ead warrants were now ready. per cent, and $1.00 less per share
a bonus.
Land Investment Company.
The thirty-fourth ordinary meeting of the Hongkong Land
I trust, gentlemen, that those proposals meet with your entire approval.
This was all the business, the Investment and Agency Com
The work of our staff has, as that pany. Ltd., was later held. Mr.usual, been entirely satisfactory now D. G. M. Bernard presided, those throughout the year, and I am also, present being Sir Paul sure you will agree that they Chater, Sir Robert Ho Tung, bare well merited the bonus it is Land Reclamation Company. Mr. A. H. Compton, Mr.Proposed to grant to them.
The twenty-first gederal meet. H. P. White and Mr. Hector I now beg to propose that the ing of the Hongkong Land Sassoon (Directors), Mr. M. S. report and accounts as presented Reclamation Company, Ltd., Northcote (Secretary), the Rev. be adopted and passed, and after followed. Mr. D. G. M. Bernard Father Robert and Messra. H. W this has been duly seconded I presided and there were also Bird. J. T. Bagram, F. P. Deacon, shall be pleased to answer any resent Sir Paul Chater, Sir F. M. Ellis, A. M. L. Soares. E questions shareholders may wish Robert Ho Tung, Mr. A. H. Sadick, B. W. Bradbury, to put. Campton, Mr. Hector Sassoon A. A. Alves, A. A. Guterraz, R. J. (Directors), Mr. M. S. Northcote Wilton, E. Arculli, H. A. Rodgers, (Secretary) and the Rav. Father and Lau Hin-nam (shareholders.)
The adoption of the report sad accounts was seconded by Mr. Soares and agreed to.
The appointment to the Board
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TEL. CENTRAL 692.
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Telephone C. 3146,
SALE! SALE!!
IN ALL DEPARTMENTS -
Our Annual Stock-taking Sale commences MONDAY NEXT JANUARY 29th. for a few days only.
GENTLEMEN'S
TAILORING AND OUTFITTING
LILLI
DEPARTMENTS
(Hongkong Hotel Buildings)
Here will be offered many Bargains in:
From
From
SHIRTS
P.O. Box No. 530.
$ 2.75 cts. (Day or Evening Wear) FYJAMAS BOOTS & SHOES...... $ 9.75 SOOKS
$ 1.00
TRAVELLING RUGS $17.50
GARTERS GOLF HOSE BRACES
55 ets. :$2.75 cta. $115 ct.
5 4.75
TIES GLOVES
TABAQUERIA FILIPINA
We have just received the
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Punchboat
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Robert, Messrs. H. Percy Smith, The notice calling the meeting of Directors of Mr. Hector Sassoon J. T. Bagram, H. P. White, E was read by the Secretary. Sadick, A. S. Ellis, and H. A. The Chairman Aid-Gentle- and Mr. A. H. Compton was con- Rodgers (shareholders).
men, The report and statemen. fitraed, on the proposition of Mr. The Secretary first read the of accounts, together with the Bird, seconded by Mr. Sadick. notice convening the meeting. auditors report, having been in Their re-election for another The Chairman asid:-Gentle in your hands for some days past, year PAR also agreed to. mer. I propose, with yourļi propose to follow the usual on the proposition of Mr. F. M. permission, to take the report custom and take them, as read. Ellis, seconded by Mr. Bagtam. and balance sheet, together with The net profit for the yaar, Messrs. H. Percy Smith and C. the auditors' report, which have after paying all charges and Bernard Brown were re-appointed been in your hands for some commissions, amounts to $2.212,-auditors at the remuneration of days, as read.
839.08 as against $2,645,306.21 for $750 each, on the proposal of Mr. The net profits for the year the previous year,
Deacon, seconded by Mr. Arcnlli. amount to $959,124.79, as against During the period under re-
This was all the business, it $92,540.54 for 1921. This is view, we have sold further pro- being announced that dividend accounted for principally by the parties and also some of our warrants were now ready.
sles of the greater portion of rights in respect of the Praya Kowloon Marine Lot 43 and oar East Reclamation. Peak property. Both of these from these sales amounts to:
glasses should do so. A great curately, Testing the sight and sales I announced at our last $1,830,629.27, as compared with as you feel. A pair of correctly many are unaware of the real fitting glasses is their exclusive Conval meeting. The profite $2,391,065.81 in 1921. As a refitted glasses is a powerful factor examination is made. The Hong-
condition of their eyes until the business. realised were $897,566.71 and sult of these sales of property, in making you feel young kong Optical Co., successors to $13,264.00 respectively. You will rents for the year are some Efficiency demands that you Clark & Co., refracting and manu also notice that a profit of over $140,000 less. But, on the other wear glasses if your eyes are not facturing opticians, located in 53, $38,000 has been made from sale hand, the income derived through perfect, Fully fifty per cent of Queen's Road Central, have the of shares."
part of the purchase money re-the people who do not wear equipment to test your eyes 40-
The profit YOU ARE JUST AS OLD
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You take no tiek when you buy A MOUTRIE PIANO,
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WATERPROors...... $9.75 cts.}
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