New
Advertisements.
PROSPECTUS.
The Subscription List will be opened on Tuesday, the 15th day of December, 1925, and will close on or before Thursday, the 81st day of December, 1925,
HONGKONG TELEPHONE COMPANY, LIMITED. Incorporated under the Companies Ordinance, 1911 Capital $5,000,000 divided into 500,000 Shares of $10 each.
THE HONGKONG TELEGRAPH,
Of the above shares 110,000 were subscribed for cash on the Incorporation of the Company by the two Promoters, the Hon. Sir C. P. Chater and James Harper Taggart, as to 15,000 ench, and by the Directors, the Hon. Bir C. P. Chater, the Hon. Mr. P. H. Holyoak, the Hon. Mr. Chow Shou Son, the ilon, Mr. R. H. Kolewall, the Very Reverend Father Leon Robert. Robert Gordon Shewan, John Scott Haraton and James Harper Taggart as to 10,000 shares cach,
On these $3.50 per share (being as to $2.50 ono-quarter of the nominal value of the share and as to $1.00 the premium thereon) was paid on allotment and the balance (87.50 per share) will be paid when called up on the same basis as the remaining capital.
110,000 shares credited as fally paid up and ranking for dividend as from the 1st July, 1925, have been allotted to the China and Japan Telephone and Electric Company, Limited, in pursuance of the Agreement (hereinafter called "the Purchase Agreement") dated the 20th day of May, 1925, made between the China and Japan Telephone and Electric Company, Limited, of the one part and James Harper Taggart on behalf of the above Company of the other part.
The remaining 250,000 shares, to rank for dividend from the 1st day of January, 1926, on the nominal amount from time to time; paid up thereon but in all other respects equally with those already subscribed, are now offered for public subscription. $3.50 per share is payable on application, being as to $2.50 one-quarter of the nominal) value of the share and as to $1.00 the premium thereon. The balance. due on each share, namely $7,50, will not be called up at present but is to be called up on subsequent demand as and when capital is re- quired.
In allotting shares the Directors will, if there are sufficient applications from bona fide residents in the Colony of Hongkong, allet shares to such applicants only, and they will also pay due regard to the applications of telephone subscribers,
Directors.
The Hon. Sir Catchick Paul Chater, Marble Hail, Victoria. Hongkong. Member of the Legislative Council of the Colony of Hongkong.
The Ilon. Mr. Percy Hobson Holyoak, of Messra. Holyoak, Massey & Co., Ltd., Victoria, Hongkong, Merchant.
The Han, Mr. Chow Showy Son, of the Bank of East Asia,. Limited, Victoria, Hongkong, Banker.
The Hon. Mr. Robert Halmus Kotewall, of China Building, Victoria, Hongkong. Merchant.
The Very Reverend Father Leon Robert, of Missions Etrangeres, Victoria, Hongkong, Missionary.
Robert Gordon Shewan, of St. George's Building, Victoria, Hongkong, Merchant.
John Scott Harston, of Prince's Building, Victoria, Hongkong,, Solicitor.
James Harper Taggart, of Victoria, Hongkong, Managing Director of The Hongkong & Shanghai Hotels, Ltd,
THURSDAY. DECEMBER 17, 1925.
"reports as portalo or are necessary to the "conduct in continulty of the business being "the property of the Vendor Company and "used by it for the purpose of its business "and including apara plant and stores of all "descriptions (whether actually in use or not "in use) without any excoption whatsoever "save as horeinafter mentioned in the posscA- "alon of the Vendor Company or to which it "is entitled and also Including works of all *kinds in the course of construction without "exception..
"(d) The benefit of all contracts and engagements "entered into by the Vendor Company in the "Colony of Hongkong in relation to its suid "business (but excepting contracts with "employees of the Vendor Company for which "special provision is hereafter made). "(0) The Vendor Company's rights and corres- "ponding obligations in respect thereof relat- "ing to all wayleaved ways, and all other "rights and easements enjoyed and used by "the Vendor Company for the purpose of its "said business,
"(8) The consideration for the anld only shall be the
"following sums that is to say.
"(a) The sum of $1,155,000 (One million one
"hundred and fifty-five thousand Dollars | "Hongkong Currency) for the plant of the! "Vendor Company.
"(b) The landed cost to the Vendor Company of
"hundred and twenty-five.
NEW ADVERTISEMENTS.
ADVERTISE YOUR WANTS IN
THE HONGKONG TELEGRAPH which is THE EVENING newspaper
WITH THE LARGEST
CIRCULATION
25 WORDS FOR ONE DOLLAR PREPAID
$1.50 if not propaid.
Advertisers should note that replies must be called for at this office.
་་
GIVE THESE COLUMNS AN OPPORTUNITY
TO ASSIST YOU,
The following réplies are awaiting collection — Nos. 1366, 1375, 1814, 1920, 1384, 1376 1883, 1842, 1392, 1397, 1409, 1418 1432 1424
BOARD RESIDENCE,
MISCELLANEOUS.
A
LOCAL HOCKEY.
CLUB DEFEATS "HAWKINS."
The Hongkong Hockey Club first eleven defeated team from H.M.S. Hawkina by four goals to three at the U.S.R.C. ground jant evening, in a fast and Interesting game. On the run of the play, the Club were the stronger, but owing to the stubborn light put up by the sailors' defence, they were unable to win by à larger margin. The Hawkins played well and strongly, but the forwards were not so consistent and quick as werc those of the Club.
Wauchope was Д prominent player for the sailors, and Lyle and Simma, his partners, did useful work, but were not quick enough for the Club forwards. Stephen- son, inside right, was the most thrustful forward, and Nicholson showed up weli nt forward. The backs, bury and. Main, put up a
centre
Brad-
strong
fight and Ford in goal saved some awkward situations. Freer, work-
ATHAN HOUSE 48, Nathan Estates negotiated for rent, aue-wing, and Wilson on the right put "House, Flats, Building-Lote, ed well with Symth on the loft
Manage-
"all additions made to the said plant and/or Road, Kowloon (Corner "property from the First day of January One Nathan Road, Near ferry) Board tion, er private sale. "thousand nine hundred and twenty-five to and Residence Temporary ment arranged for olieu's pro-
Or "the Thirtieth day of Juno One thousand ning Permianont. Modern Con-ceeding abroad, Telephone 0.4630 veniences $5 Single $8. Couples Small Investors, 1, Das Voeux
Road." (c) The sum of $491,335 (Four hundred and with Full Board.
"ninety-one thousand three hundred and "thirty-five Dollars Hongkong Currency) for "the land and buildings of the Vendor Com- "pany which are more particularly set forth "in the Schedule hereto.
"(d) The value of the stores of the Vendor Com "pany which at the Thirtieth day of June One "thousand nine hundred and twenty-five are "in the possession of the Vendor Company in "the Colony of Hongkong or are in transit to "the Vendar Company there or for the pur- "chase of which the Vendor Company has "entered into binding contracts.
WANTED.
BEZAAR.
across some promising centres.
Good team work was shown by the Club, but the backs, Farquhar son and Wedlake, might have done better with some of the attacks that resulted in goals. Mitchell worked hard as the pivot.of the team, and the other halves were strong, Martin being particularly WANTED. For immediato THE BAZAAR an behalf of so. Woodward as leader of the bungalow ar flat at the Foak is. Blood, will be held at the St. of ahots, and Dyer-Ball was con- The Sisters of the Precious attack had hard luck with a number occupation, furaishod kouse, triet or middle level. Write Box Patrick's Club, Garden Road on tinually making headway. 1425 c/o The "Hongkong Tale- the 13th and 20th instant from 11 graph."
PREMISES TO LET
"(4) The said consideration shall be satisfied (as. to the TO LET,Europoon Flat, At "sum of One million four hundred thousand Dollarai No. 341 Nathan Road Kow- "part thereof) by the allotment and issue to the loon with all Modorn Con- "Vendor Company of One hundred and forty thou-veniences. Apply to Moner "sand shares of Ten Dollars each in the Hongkong Kayamally & Co. No. 3 and 5 "Company credited as fully paid up ranking for D'Aguilor St. H.K.
dividend as from the First day of July. One
s.m. to 6 p.m.
J. 9. SHAK,
Hon. tecretary.
FOR SALE.
The Club started with 'ona player short, but they attacked straight away without success, a nice passing movement between Mitchell, Woodward and Dyer-Rall being stopped by Main. The ball was taken to the other end where Martin managed to atop a break- OR SALE. Miniature away but a forward pass by Lyle
Billiard table (Stevens & enabled Nicholson to Sape, C. aring Cross, Makers) few minutes afterwards the Club's complete with 3 Balls. 2 Cues late player turned up, and fro Marker. Suitable for Xmas gift, that time they began to tako.
F
"thousand nine hundred and twenty-five and (as to PRIVATE HOTEL, quiet Bri. Telephone E.96.
"the balance thereof) by payment' in cash in Hong-
tish family, board reaidence "kong Currency in Hongkong by the Hongkong Com-from $4.00 daily. One minute from
"pany to the Vendor Company."
THE SCHEDULE ABOVE REFERRED TO: Properties Owned by the Vendor Company,
No. 14 Jee House Street.
No. 1 Cameron Road, Kowloon.
Inland Lot No. 57, Sections A & E
of Jaland Lot No. 339.
of
forry, family rates. Personal supervision. 1, Victoria Garžene. Hankow Road, Kowloon, Tol. K,357.
O LET De Furopean fat
Wanchai Gap Road, Hong" Rural song. Apply to 32 Kennedy
Road.
Section of Kowloon Inland Lot
N2849. Remaining Portion
Binting Lot No. 47. Properties Leased by the Vendor Company.
In pursuance of the terms of the Purchase Agreement, the No. 2 Queen's Road Central and China and Japan Telephone and Electric Company, Lmited, and the Oriental Telephone and Electric Company, Limited, or either of these Companies, so long as these Companies or either of them hold in their or its own right not less than 100,000 fully paid up shares in Nos. 118 and 119, The Peak, the above Company are to have the right of nominatin? two Directors of the Company provided such Nominated Directors are bona fide residents of Hongkong. The first nominated' Directors (nominated by the China and Japan Telephone and Electric Company, Limited,) are the Hon. Mr. P. H. Holyoak and Mr. J. H. Taggart.
Bunkers.
Auditors.
The Hongkong and Shanghai Banking Corporation, Hongkong.
Messrs. Lowe, Bingham & Matthews, Victoria, Hongkong.
Chartered Accountants.
Solicitors,
Messrs. Deagons, Victoria, Hongkong.
Registered Office.
16, Des Voeux Road Central, Hongkong. Acting Secretary.
A. L. Terry, A.C.LS.
Ra) The Company was formed on the 24th June, 1925, for the purpose of taking over the undertaking in Hongkong of the China and Japan Telephone and Electric Company Limited, who was the Vendor thereof and whose Regis- tered Office is situate at Alderman House, Alderman Walk, Bishopsgate, London, England. The material terms of the bargain are set forth in the Purchase Agreement, as follows:-
(a) Six Office Rooms in Nos. 15 and 17 Queen's Road Central | | 2. (b) One Two-storeyed Godown, used as Store and Workshop
bring No. 3a Duddell Street,
(c) Portion of land belonging to Kowloon-Canton Railway at Blackhead's Point, Kowloon, for storing cables.
Let- Two newly.con
aervants
LOST.
score, A
command of the game. Martin sent in an unsuccessful centre, and another by Owen-Hughes, was miss- ed by Woodward and Evans with Jan open goal. Eventually Evans, (S-On Hongkong-Bow-who was playing a remarkably gand loon Ferry about 5 p.m. on game ut inside loft, put the Club, the 15th. inst) Watermen's foun-level. Fast play ensued and even- taip pon. Finder kindly return tually the Club got ahead frum to "Hongkong lelegraph" Office. centre by Price which was defect- ed into the net by another forward. Shortly afterwards, Evans scored the third for the Club. The sail. ora tried hard, but.the only notable
FOUND.
A
Magazine Gap, Motor Hond, Water Bay small Child's the past..
structed European bouses,OUND-On road near Deep shat was one by Freer which hit.
each with kitchen. coreo flats, three large roome overcoat. Apply Secretary Royal Hongkong Go f Club. Back of quarters and bath room, Euted
of Cautun Building. In addition to the allotment of 140,000 shares of the Company, with flush system. Varages credited as fully paid up, the China and Japan Telephone and Electric, provided. Immediate poseersion. Company, Limited, has received from the Hongkong Company $200,000 Apply Sang Kec, New Bank in cash on account of the consideration specified in the Purchase Building. Agreement.
(Continued on Page 9 & 10)
The Hongkong Company was formed for the purpose, also, of
Any further net profits (ie, net profite in excess of Eighteen supplying telephonic communication within and between the Colony per cent. per annum) are to be applied solely for the reduction of of Hongkong and its Dependencies and the New Territories for a subscription rates.
Fall particulars in respect of the above appear in the Telephone period of Fifty years under a Concession from the Hongkong Govern- ment detailed particulars of which appear more fully in The Telephone Ordinance, 1925. Ordinance"). Ordinance 1925 (hereinafter referred to as "the said Telephone
(b) The minimum subscription on which the Directors may,
proceed to allotment is Seven shares.
↓·
The Hongkong Company is authorised to charge the following! annual rates with effect from the 1st July, 1925:----
(a) $108 per Exchange Line within (i) Victoria and Kowloon as defined by the Interpretation Ordinance 1911 and (fi) within the Peak District as defined by the Peak District Reservation Ordinance 1904 but substituting "700 feet": for "788 feet."
(b) $108 per Exchange Line within a radius of one mile from any exchange that may hereafter be opened outside the areas referred to ʻia (a).
(e) An additional charge of $50 per mile or part of a mile measured outwards from the nearest point of the boun- dary of the areas referred to in (a) and (b).
"(2) The Vendor Company will sell and the Hongkong "Company will purchase as at the First day of "July One thousand nine hundred and twenty-five | "the said Telephone business and the whole of the "undertaking in the Colony of Hongkong and the "Dependencies thereof as a going concern (with the "benefit of all assets there situate but exclusive of "the net profits, investments, cash in hand, and in "The Bank and debts due to the Vendor Company, "on the Thirtieth day of June One thousand nine;
(d) For extension telephones, bells, switches, switch-boards, hundred and twenty-five) of the Vendor Company
power-circuits, removals, and other services of like nature, "but free from all debentures, mortgages, or
such charges as the Governor-in-Council may approve. "charges of any kind and the Vendor Company aave)
Should the charges above referred to be insufficient to pay to the "as berein specially provided for shall pay and dis-shareholders of the Company a minimum dividend of Eight per cent. "charge all liabilities whatsoever incurred by the per annum of the paid-up capital of the Company for the time being, "Vendor Company prior to the First day of July after making provision for working and managing expenses, main- "One thousand wine hundred and twenty-five includ- tenance and efficient service, depreciation and reserve, and the other "ing the satisfaction of all claims in respect of staff deductions referred to in Section 35 of the sald Telephone Ordinance "superannuation funds bonus funds and/or other the above rates are to be raised so as to enable the shareholders to "bonus payments up to and including the Thirtieth receive such minimum dividend of Eight per cent, por annum. "day of June One thousand nine bundred and twenty-tion is not to exceed ten per cent, on the cost of the Company's plant The amount to be written off as provided annually for deprecia- "five Provided always and these presents are upon and equipment other than land and buildings, and the amount that "this express condition that the same shall be subject "to the said James Harper Taggart being satisfied may be appropriated annually by the Company to a Reserve Account "with the state and condition of the plant (including
anall not exceed $50,000. "enbles conduits, etc.) of the Vendor Company. The
The net profits of the Company after providing as aforesaid are "said phrase the undertaking shall be deemed to be used firstly in payment to the Government of a royalty of Four "to include:-
Dollars in respect of each direct exchange ne Telephone which hasi been used and paid for during the whole previous. Twelve months by a Telephone Subscriber or One Dollar per direct exchange line. Tele- phone for ench period of Three months or less.
i
I
(c) The shares now offered for subscription have not been
underwritten.
(d) No commission or promotion money will be paid by the
Company.
(e) The Company is to pay the preliminary expenses of and incidental to the formation and notation of the Company down to the time when it becomes entitled to commence business and also the legal costs and expenses of and incidental to the negotiations which have taken place for acquiring the aforesaid undertaking and the negotiations with the Hongkong Government arising thereout and the obtaining of the aforesaid Ordinance, such legal costs ana expenses to be incurred during the year 1925, and the estimated amount thereof is $20,000,
(1) The Articles of Association provide that the qualification of a Director is to be the holding of 1,000 shares in the Company and that the remuneration of each of the Directora is to be $2,000 per annum,
(g) The Directors were interested in the promotion of the Company to the extent only that they or some of them. are Directors of other companies with whom the Com- pany may to business.
(1) Copies of the Memorandum and Articles of Association of the Company and of the Purchase Agreement and of The Telephone. Ordinance No. 9 of 1925 can be inspected at the office of Messieurs Deacons, Solicitors for the Company, at any time during business hours. (0) A copy of the Company's Memorandum of Association
Is annexed to this Prospectus and forms part of it. Application for shares should be made upon the form accompanying the Prospectus and sent to the Company's- Bankers together with a remittance of $3.50 per share. being as to $2.50 thereof one-quarter of the nominal value of the share and as to the remaining $1.00 the premium thereon. Where no allotment is made the deposit will be returned in full and where the number of shares allotted is less than the number applied for,
"(a) The Goodwill of the Vendor Company as now "enrried on in the Colony of Hongkong and "The Dependencies thereof. "(6) All the lands and buildings of the Vendor
The said net profits are secondly to be applied in payment to "Company owned and/or leased by the the shareholders of the Hongkong Company of the minimum dividend "Vender Company for the purpose of its said of Eight per cent. per annum rising to Twelve per cent, por annum. "business being the premises set out in the If the net profits be auch that a larger dividend than Twelve "Schedule hereunder written subject to the per cent. par annum can be paid then as to the difference between. "rents conditions and reservations affecting Twelve per cent, and Eighteen per cent, half thereof is to be paid "he Bame.
by way of increase of dividends to the shareholders of the Company. "(c) All plant material stores machinery property and the remaining half of such difference is to be act aside for the "stock in trade instruments furniture and benefit of subscribera by way of reduction of the subscription rates "utensils together with such books accounts authorised as above mentioned. The dividend payable to shareholders Companies. "documents plans statistics records and is mited to a maximum of Fifteen per cent, per annum.
On resuming, the Club continued to have the balance of the ply and for a large part of the remain- ing time exerted great pressure on the opposing goal. It was at this time that Ford and the two backs showed up well, but nevertheless
score.
I had the Club forwards shot better, they would have added t their Occasionally the sailors pressed for short stretches at a time, and by "good" shooting they turned these pressures to accourt. Nicholson succeeded in adding, making the sailors' score two, ard soon afterwards Price put on an- other for the Club.
Before the end Nicholson added a third for the sailors.
WORLD'S AIR RACE.
BRITAIN PREPARED TO CALL A HALT.
London, Dec. 16.
An international appeal to re- strict aerial expansion was implfed by Sir Samuel Hoare, speaking in West London, when he declared that while he was able to recom- mend the postponement of certain items of expenditure, the Britis programme must depend on the at- titude of other Governments,
He
said that notwithstand- ing our notorious inferiority, com- pared with continental nations, also our peculiar vulnerability from the air, we were prepared as a result of Locarno to relay our programme to some extent, and hoped other coun- tries would follow this example, and enable the Governments to avoid a race in armaments in the future which would be far more disastrous than any in the past.- Reuter:
London, Dec. 16.
In the English Cup relay bg-
a proportionate amount of the deposit will between Wigan and Crewe, the for- returned.
won by two goals
21
(k) Prospectuses can be inspected at and forms of applica
tion obtained from the Company's Bankers, the Hongkong. and Shanghai Banking Corporation, Hongkong, and at and from the offices of the Company's Solicitors. Mesaleurs Deacons, No. 1 Des Voeux Road Central, Hongkong.
This
mer team to one.
In the First Division of the English League Bury defeated Burnley by eight goals to one.
In the Northern section of the Third Division, Bradford defeated:
Prospectus has been duly fled with the Registrar of New Brighton by one goal to nil,