GKONG
AGAIN
HE BOATT
MONDA
ZEISS GLASSES
FOR
THE FASTER RACE MEETINGS
Deltrintem
Silvarem
8 x 80 Binoctar
7 x 50
6 x 80 Deltrentis 8 x 30
THE
WORLD'S FINEST PRISMATIC
BINOCULARS
SPECIAL
Here are the Cambridge crew which won the University Boat Race on Saturday. They are seen out on a' trial spin.
DOCK CO.'S: AFFAIRS, |July--November. Business was takings in other countries. For new Fimproving towards the end of that tonnage we have to compete with period and December proved to Home yards, who, as you know, have be quite a fair month. As: re-been devoting a considerable amount gards the future, I hardly care of time and energy to cheapening to commit myself except to say the cost of building and we have to that as the shipbuilding industry koop right abreast of the times in has been having a bad time for order not to be left behind and out
in the cold. some years, It is only reasonable to anticipate that before, long there will be a turn of the tide, and even when we have little new construction in hand we are usual- ly kept fairly busy in repair work.
CAPITAL EXPENDITURE,
Mr. Kelly Sayce:-Mr. Chair- man-It is not my intention to ask any particular questions but with your permission I pro- pose to submit to this meet- ing a few observations on the re-
presented to us to-day. I have no | doubt that the result of last year's working is as disappointing to you, gentlemen of the Board, as it is to the general body' of shareholders, but like all other concerns engag. ing in any kind of trade we must be prepared for periods of depres-
Delactis
8 x 40 Telonar 12.x 40
DELFORT
18 x 50
Telsexor 16 x 40 Dekar
10 x 50
Every Pair of Glasses Guaranteed direct from Works'
LANE, CRAWFORD, Ltd.
HOSPITAL CASE.
bad. There is, however, a feeling todians of the shareholders" pro-| sions and take the good with the tors, who after all are the cus-
among a large number of share-perty, to carefully review the man- holders that the loss should not
WEEK-END CASUALTIES. ner in which the business of the have been as large as it is.
A Chinese woman has been sent has company been conducted to the Kwong Wah Hospital auf- especially during the perfod men-fering from cut wounds on the face tioned by me, and to consider inflicted by two men, armed, with whether the time his not come for
daggers, who attacked her,
a radical "change in the working and, policy of the Company (Applause.)
ones. This is of course largely
41
PREMATURE.
After inflicting injuries to the head of a Chinese woman, which necessitated her removal to the Kwong Wah Hospital, a married woman has absconded.
When
SHOW OF
MILLINERY
AND
SPRING FROCKS
For EASTER
AT
POWELLS
EXTRAORDINARY VALUES ARE
A FEATURE OF THIS DISPLAY.
NEW CHAMPAGNE
and BRONZE
SHOES
THE CHAMPAGNE OF KINGS:
POMMERY
THE KING OF CHAMPAGNES
BEWARE OF IMITATIONS MAKE CERTAIN OUR NAME IS ON THE BOTTLE
Sole Agents
CALDBECK, MACGREGOR & CO., LTD.
Incorporated under the Companics' Ordinances of Hongkong. 15, Queen's Road U.
Telephone Central 75
(Continued from Paye 1). sary for effective supervision that there is an adequate European staff. I state this because it has been suggested that now things are Black the staff could be cut down. In this connection I may say that although we have always carried on with a minimum of European staff compatible with efficiency no leas than sixteen members of the staff have left us during the past I do not think there is any- twelve months and have not been thing further that calls for cam-port and statement of accounts as replaced. Moreover, eight more ment; and I now beg to propose are shortly going Home on leave the adoption of the report and ac after five or six years in the Co-counts and after this ban boen lony. This depletion would leave seconded, I shall be glad to us dangerously understaffed when answer to the best of my ability conditions, become normal and as any questions, which shareholders business improves it will be neces-may wish to ask! sary to add to our staff. It has Mr. Li Tse-fong seconded, been. Indicated to us by some of SHAREHOLDER'S QUESTIONS. our most valued clients that when there was a rush of work we were Mr, Kelly Sayce rose to speak, shorthanded and that their work whereupon, did not receive sufficient supervi- The Chairman said:Gentle slon This, gentlemen, is a most men,-On Saturday morning, after
The opinion also prevails that undesirable state of affairs as we the speech which I have just read a good deal of capital expenditure can only retain our clients and out had been written, a letter was has been unwisely spent and should add to them by ensuring that they received from a shareholder con- have been avoided. At the meet will be satisfied that the work en-taining a list of 15 questions which ing last year the Chairman in the trusted to our care will receive he proposed to ask at this meeting course of his speech said that: adequate European supervision. and I wish to thank him for his "The past year makes the third in You will recollect that last year courtesy in sending in the list of succession, in which companies shareholders authorised an in-questions beforehand. This share like ours have had to labour under crease of capital, but unfortunate holder was one of those who were trying circumstances, in fact the
a Chinese won an fell ly when the shares were offered responsible for the appointment of year, 1924 was even much more The Chairman: With reference down some stairs at 4, Wa's Hinge! the strike and boycott commenced the Committee of shareholders to difficult than the two previous to Mr. Kelly Sayee's comments, iLane, she was hurt in the head, and money became so tight that which I have already referred, and
and was removed to the Govern- although the date for receiving aptions should have been placed in state of affairs in shipping," from holders who requested the appoint-
it seems to me that these ques due to the continued depressed notice that he was one of the shore-ment Civil Hospital. plications for the new shares was the hands of this Committee with which will be seen that neither ment of a Committee of Investiga- been bitten by a brown dog owned A Chinese woman, said to have' postponed the response was. poor the request that the paints raised the Board nog the management Ition. I think it is rather difficult by a Chinese living at 73, Laich-1 and the Directors decided to should have its attention. Refer could be said to have been taken cancel the offer: Only 7,640
kok Road, has been sent to the fence has already been made to the shares were applied for and issu-world-wide stagnation in the ship-tide, for we have it on the au interior working and management has been sent to Kennedy Town.
unawares by a sudden turn of the for a shareholder to criticise the Kwong Wah Hospital. The dog ed, When conditons normal it will be necessary for the been most fortunate in being able three years in succession "com-
become building Industry, and we have thority of the chairman that for of the company without having in-
Said to have been assaulted by four unknown men on the Tsun when the Committee of Investiga-to the Kwong Wah Hospital. tion have enquired into it with all Common prudence therefore the books and information at their motor bus No. 1188, 'in Gascoigne After being knocked down by should have dictated the cutting disposal they will be in a position Road, a Chinese woman was sent down of capital outlay on a large to any whether the Directors have Reale, at any rate, until auch time mismanaged the Company's busi-driver has been detained...
to the Kwong Wah Hospital. The as b change for the better wasness. or not as is suggested. Mean- observable. Instead of that how-while, until the report is received xious to see the Company in a ever the enormous sum of $5,600-the matter can be left as it stands. Great interest is evinced in Turning to the counts, you position to pay good dividends.
flourishing tion and in a 000 has been spent by our corn-[-(Applause).
shipbuilding circles. in. Great will notice that no allowance has
pany during the very period stated. The resolution was then put to Britain as to the outcome of the been made for depreciation. This in fact a glance at the list of by our Chairman last year to have the meeting and carried unanim tenders submittted by oight is not considero 1 necessary in view Directors to-day hold or directly
shareholders will show that the been one of continued depression. ously.
leading firms for the re-engining. of the large amounts that have represent over one-tenth of the nearly equalling double our total That is to say, a sum of money;
and re-boilering of the Canadian been provided in previous years. issued capital of the Company. capital has been borrowed and Kelly Sayce seconded the re
Pacific Mr, Hỏ Leung proposed and Mr.
liner Runpresa ... of Our stocks. of materials stand in
Australia This veasel-former- our books not above cost price They deplore, with you, the less sunk into extensions or alterations election as directors of Sir Paul
ly the Corman-built Tirpitz and in no case above the market made, last year and have been to our property admittedly unpro- Chater and Mr, T., Woull. This surrendered to Britain under the value. Our plant and buildings happy to welcome the Committee ductive, with the result that we
provisions of the Treaty of of shareholders who will in due are in excellent order and the cast course put forward their recom- payments of interest which we firmed in his appointment as a which comprises the Fottinger are now saddled with very heavy
Versailles is at present atted Mr. D. G. M. Bernard was con- with a machinory installation of their upkeep has been defrayer! out of revenue,
mendationa.
cannot earn. I am sure share- Our reserve fund, you will! What I think every whareholder holders will agree with me that member of the Board on the pro-hydraulic reduction gear and notice, after withdrawing $500 wishes to know is that his inter if a private person conducted his Position of Mr. Croucher, second set of water-tube boiloré, and it is the Intention of the Canadian 000 to cover the loss in 1925, esta are being properly cared for. business on such unsound prin- atands at $100,000. The pre- To ascertain that this is so is no ciples, he would very soon, find Swell, seernded by Mr. Lang and have these replaced by single It was proposed by Mr. G. W. Pacific Company, it is stated, to mium of 10 per share on 7,640 doubt the purpose for which the hit in the Bunkruptcy Court carried, that Messrs Lowe Bing-reduction geared turbines of 21- The Dairy Farm, Ice & Cold Storage Co., Ltd. issued lesa expenses of issue, questions were framed. I sug- and I fear that unless a change ham and Matthews and Mesars 000 s.h.p with 200 deg. superheat, amounting in all to $72,081.70, eat, therefore, that the matters in our polley is made, and made Percy Smith, deth and Fleming brand range of 14 Scotch has been put to reserve.
You about which information, is desir-soon we shall not be very far will notice from the balance sheet cd should be placed before the from the hands of the Official Rare-elected as auditors for the ensuing year at a remuneration of that the debentures have been Shareholders' Committee who will cover ourselves. I think share $1,500 each. paid off. This was done when be able to go into the various holders have every reason to ques-
This was all the business of the they became due on 31st Decem-points thoroughly and with more tion the palloy of the present
meeting. ber, and the Bank kindly allowed satisfaction than would be afford-management that has brought our us to overdraw on our current od by a series of brief questions company to such a pass by its un-
Visiting the British Monomark wiać account in order to do this.
and answers in this room. Still,
and unproductive capital Your Directors regret, that ow
if it is desired to put these ques-outlay on such a stupendous scale.stall at the British Industries Fail.
.Directors to make a fresh offer of to maintain the payment of a nanies like ours have had to labour vestigated it in person, No doubt Wan Road, a Chinese has been sent]
shanes on terms to be settled by dividend until this past year. With them in due course. Shareholthe conditions that have had to be ders may rest assured that the faced since the middle of last year," new shares will be offered to them it is no cause for surprise that in proportion to their holding of the year has come out with a loss. shares whether of the old ones or Your Directors, gentlemen, are those issued last Summer which equally with you shareholders in will rank equally with the former. the Company and are just as an-
THE ACCOUNTS.
under trying circumstances."
BUSINESS MATTERS.
was carried,
ed by Mr. J. M. Alves.
single-ended boilers. Under the existing arrangement.neither the turbines nor the propellers have, we learn, been operating at economical spoedo, and hence the the decision of the owners to adopt measures which undoubtedly of the heroic ordar. The tenders for this big job were at the White City, Shepherd's delivered in London on February
Ing to the large loss of $468,259.03tions now, I shall be pleased to "ECONOMICALLY UNBOUND" Bush, the Prince of Wales was 1st and the outcome is being
will come
TO-DAY
'they are unable to recommend the
answer them to the best of To sink these sums of money prevailed upon to adopt a mono-awaited with keen interest in payment of any dividend. You my ability. I may add that the into something that may at some mark. It will be BM/EP." will notice from the Profit and Chief Manager will be glad time in the indefalte futare prove That, on an envelope, with Lon-
marine engineering circles. Loss Account that the balance of see any shareholder who profitable is open to question, but don added, will and HEH. Working account only showed a
to him/
with to do so on borrowed rianoy seems from any part of the world. The loss of $112,507, the difference proposals for the better working to me to be the height of unwis Prince nade a tour of the exbibi
of the Company, and will be very dom and economically unsound.tion and stopped at several stalls, between that and 8468,259.0 plunsod to show any of you over the It is earnestly to be hoped there asked question with the sales- beins made up of Interest, rates, property you own. It is doubtful if fore that the Board will call men and saleswomen, and gave
many of you have any idea of the halt to all future borrowing. I may add that the full effect large organization that is required
insurance, gle...
practical demonstration of the of the labour troublos and boy for modern shipbuilding and for
sincerity of his advies to buy would also urge the serious British goods by ordering a nume cott were felt during the montha competition with similar under attention of the Board of Direcber of articles for himself.
Dollar on demand 28.8.7/16d. Lighting-u
6.26.p.m. Temperature (% p.m.) Barometer 12 p.m.): Humidity
69 30.03
That Four Letter Word
Synonymous with Good Health
M-I-L-K
The Wonder Food
Include a liberal supply in the daily diet. It Pays
DLUMBING
SPECIFICATIONS
"AND ESTIMATES
PREPARED FOR
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ENGINEERING
IXTURES REQUIREMENTS.
Work done under Expert European Supervision.
C. E. WARREN & CO. LTD.
China Building (opposite. Queen A-Theatre)