ELECTRIC COMPANY'S
MEETING.
HOW BTRIKE CONDITIONS
WERE MET.
The thirty-seventh ordinary yearly meeting of shareholders in the Hongkong Electric Company, Limited, was held at the Company's offices, in the P. and O. Building, Des Voeux Road Central, this morn- ing, the Hon. Mr. A. O. Lang pre- siding, There were also present the Hon. Sir C. P. Chater, C.M.G., Sir Robert Ho Túng, MÈ. D. G. M Bernard and Mr. T. G. Weall (Direc tors), Mr. F. R. Marsh, M.1.E.E. (Manager), and the following shareholders:-Messrs. A. H. Comp- ton, T E. Pearce, George W. Sel- lars, P. E Barker, Le Chung-kue, Wong Ping-sun, Chun Lim-fos, V. Sorby, Leung Yang-po, Henry Hum. phreys, H. Ruttonjec, Leung Fat- tin, Ip Fook, Tong Hin-pong, L. E. Ozorio, Q, Baptista, C. G. Ala- baster. D. F. Riberio, Wong Hing- kwong, L. J. Davies, J. T. Bagram and G. Murray.
CHAIRMANS SPEECH.
The Chairman "said:-Gentle- men, The report and statement of accounts have been in your hands for the prescribed period and with your permission we will follow the usual procedure and take them as read. The nett profit for the year after making due allowance for depreciation is $1,309,906.12 and with the sum of $124,153.64 brought forward from last ac- count...we have $1,424,118.76 for appropriation. With this sum we propose to pay a dividend of $2.50 per share on 300,0000 shares, absorbing $760,000; to place to re- serve, $666,000; to carry forward to next account, $84,118.76. The dividend and the amount placed, to reserve are the same as for last year.
The sales of current in 1925 amounted to a little ever 25 mil lion units as compared with 234 million units in. 1924. This output is below our estimate" due to the disturbed industrial conditions pre valling during the second half of the year. We were able, however to connect up during the year 1,142 new consumers, so that with the return to normal times we ma confidently expect afurther in- crease in the demand for elec tricity.
The capital expenditure for 1925 amounted to $830,005 and you will notice that the greater part of this, was spent on mains and substation plant. During the year we laid over 26 miles of underground cable and equipped five additional hig tension substations,
OUT
HONGEON
THE RUMANIAN THRONE..
Here is a new photograph of Prince Carol, former Crown Prince of Rumania, who has renounced his rights to the throne, and his wife (formerly Princess Helen of
Greece.)
MARCH
HOCKEY STICKS
JAQUE'S
"BULLDOG"
$9.50
64
PRIDMORE
$9.50
BEST QUALITY
INDIAN MULBERRY STICKS
$5.50
HOCKEY BALLS
LEATHER
$ 3.25
COMPOSITION
$1.40
LANE, CRAWFORD, LTD.
SPORTS SPECIALISTS.
Dairy Farm News
Canadian Chickens
70 cts. per lb. (dead weight)
Savoury and Flavoury
The Dairy Farm Ice & Cold Storage Co., Ltd.
BRITISH ECONOMIES.
MERCANTILE BANK.
We have extended stations by the purchase of No.. 7 Wing Kut Street where the build ing has been reconstructed, and, a Pokfulum, where we are areslim a new building upon land lensed Mission Etrangeres. from "the Both these substations will be equipped during the present year. We have also purchased a sile on the main road at Shaukiwan and tenders have been accepted for the substation building which will be pul in hand in the near future. Good progress was made with the scheme for housing the Company's technical staff and at the end of the year the thirteen houses at Causeway Hill were nearing com-j pletion. Our plant at North Point, has been thoroughly overhauled during the year. We have. fitted the two original turbines with a more modern system of condensing improvements, together with our adoption of the report and state- plant in place of the older pattern modern system of distributing ment of accounts and in doing so lions sterling by economies in con-declared (making 16% for the now out of date. A new boil from sub-stations, were of great should like most particularly to nection with various statutory ex-year 1925 less Income Tax); that £50,000 be carried to Reserve was put into commission in March help to us during the labour trou-congratulate the Directors and the
penditures.-British Wireless. Company's Agents upon the very
Fund raising it to £1,350,000); and this addition fills up all the bles of last year.
in the I should like to draw your at-excellent result of the year's 'work-
and that £162,000 be carried available plant
buildings.tention to the 1926 edition of ouring, notwithstanding the great la-greater portion of
forward. generating station
As compared, with last year, Several minor improvements have hook containing particulars of the hour difficulties that the Company workmen left us without notice, is been made in our boiler house supply and scale of charges, etc., has had to face during the period an achievement of which our Eu-the dividend and amount carried The plant from which we expect in-
copies of which you will find on under review. The appropriation ropean Staff and those associated to reserve are the same. your chairs. The book has been of six lakha to reserve and the pay with them may well be proud and mount carried forward last your creased economy. We have install- ed a private automatic telephone brought up to date and is now ment of a dividend similar to that all will agree that the greatest was £158,000. system connecting our
space
offices,
This little lad of four years, Prince Michael (son of Prince Caroll now becomes Crown Prince of Rumania.
a
Rugby, March 11. The Civil Service estimates for 1926, 7 are issued to-day-and show reduction of £12,300,000 as compared with the current year. At the same time, the text of the promised Economy Bill to be introduced by Mr. Churchill is published. The Bill is designed at 8% to save between eight and ten mil-
our Chinese.
workshops and most of our shprinted in English and Chinese for last year will, I feel certain, credit is due to them. With these!
You will notice that we sell meet with the approval of all few remarks I beg, Sir, to second stations, and this has, proved to current for lighting from 161 shareholders. I am glad to notice the adoption of the report and as jpro- be a great convenience,
rents to 8.8 cents per unit, de- that, although the output for 1925 statement of accounts During the strike, over 650
pending upon the amount con-did not quite come up to the essented.
umed and that in addition we timate, there was a substantial Put to the meeting, the proposi
of
a
and
to
eur-tion was carried unanimously.
FINAL DIVIDEND..
The local branch of the Mercantile Bank of India has received a telegram from the London office advising that at the annual general meeting of sharsholders , final dividend "B" "A" on
will be shares
and
"C"
fi
·TO-DAY
Dollaron demand 29.3.7/16d. 6.26 p.m. Lighting-up
69 Temperature (2 p.m.) Barometer2 p.m.) 29.99 63 Humidity 12 p.m.).
our Chinese workmen left without notice. We have,, however,
give a rush discount on any light-increase over the sales of
Mr T. E. Pearce proposed that competent European staff with the assistance of our local in accounts of $15 or over pre-rent in 1921. It is also gratifying.
a to learn that, in spite of the dia-the appointment of Mr. D. G. M. vided these are paid within staff and those Chinese who restated time. Several other modi-turbed industrial conditions, the Bernard to the vacant seat on the mained loyal, we were able
fications have been made in our number of our consumers has Directorate be confirmed, and that maintain normal supply of
charges and these, I feel ceriain; actually increased during the year. Sir Robert Ho Tung and Mr. T. G. electricity, Great credit Is due
will appreciate. We have all listened with interest Weal! be re-elected to the Direc- to our European staff for the suc There is nothing further that to the account of the new works rate of the Company. during a trying period and for beg to propose that the report always been the policy of the and the proposition was carried three galleries at Burlington the rapid training of
and statement of accounts for the Directors to maintain our plant in workmen to take the place those who left and have not re-year ended 31st December, 1925, an up-to-date condition
be adopted. When this has been extend our installation.. to me
our consumers
The feature of the, Arts and
cessful maintenance of the supply calls for comment and I now carried out during 1925. It has Mr. Henry Humphreys seconded; Crafts Exhibition, displayed in
new
of
and
ncm con.
to
,
House not occupied by Sargent's Davis work, is the stained glass mode Messrs. Linstead and were reappointed auditors to the by Mr. Leonard Walker for turned to our service; and I take seconded, I shall be pleased to present and future demands, and Company at a remuneration of Singapore. This is shown lit of the magnificonco of the this opportunity of placing on record the Directors' appreciation answer to the best of my ability I feel certain that a continuation $1,900, on the proposition of Mr. from behind and it has more
the whole-hearted support of the w. Sellers. shareholders. emergency of this nature. After
of their ability to cope with an any questions you may desire to of this policy will at all times have L. J. Davis, seconded by Mr. G.thirteenth-century glass thanf
ask.
the strike in 1922, we decided, as far as possible, to install labour-
SECONDER'S SPEECH."
any modern work exhibited for This concluded the business, years. Mr. Walker understands The maintenance of a normal the Chairman announcing that the true principles of leading and Mr. A. II. Compton said. Mr.
how to make the load pattern s real part of the design. saving devices in connection with Chairman and Gentlemen.--I have supply of electricity during the dividend warrants were our North Point plant, and theso much pleasure in seconding the trying days of the strike, when the trendy.
now
Powell
Wm
Telephone C.4578
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Morning, and Afternoon Teas. Good Assortment of Fancy Lakes.
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NOWELL B. WHITE,
Proprietor.
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