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STATE EXPRESS

VIRGINIA

CIGARETTES

555

ARDATH TOBACCO CO. LTD, LONDON.

THE HONGKONG TELEGRAPH.

GOLF CLUB MEETING.

REVIEW OF THE YEAR'S ACTIVITIES.

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The activities of the Royal Hong- kong Golf Club during the pist year were reviewed at Tongth by Mr. N. L. Smith, the retiring Cap tain, at the annual meeting of the Club held in the Board room of Messrs. Jardine Matheson and Company yesterday... afternoon. There was a satisfactory, atten- dance of members.

The proceedings were conducted by the President, the Hon. Mr. E. R. Hallifax, who was supported by the following members of the Com mittee: Mesars. N, L. Smith (Cap- tain), D. G. Bruce, J. W. Franks, A. K. Henderson, C. D. Lambert, R. L. Moncrieff, C. Bulmer John son, D. Templeton and Licut. Colonel E. D. Matthews (Secre-

tary),

The Captain's Speech.

FRIDAY, DECEMBER 17, 1926.

Apart from this large Item re at Deep Water Bay to look after pairs wore necessary to furniture the Ladies' Dressing Room. and ico-chests at Fanling which Maintenance charges have in- cpat 8426, painting etc. at Happy creased at Happy Valley and Deep Valley cost $272, and repairs to Water Bay, but greatly decreased the hot water system, at Fanling at Fanling. cost $541. The total amount spont upon repairs and renewals exceed the 1924/1926 figure by $11.180.

Catering.

Rents, rates and insurance show increases, the Insurance policies having been readjusted as the out going Captalu told us last year, telephone charges being up, and the Doop Water Bay rates having been assessed at a higher ilgure. As an offset, Famling water has cost us $107 less than Sast year.

Nothing else in the Working Account seems to call for special mention.

Debentures.

I think, it will be agreed, have in 1928, before which date the already justified the consldorable question of his replacement will expenses involved. Deep Water have to be decided upon, Bay has been given a Kelvinator which cost $1,419, a sum included in the item Furniture and Fix: tures: This it is estimated will pay for itself before very long; a the amount of ies, allowing for wastage on the way, which had to be bought for that Club House, was enormous, and the wages of a whole time carrying coolic aro saved. Secondly, a Fordson Trac- tor with five mowers was bought for Fanling at a cost of $2,700, which appears as an asset on the balance sheet.

Caddles. The second bequest was the evergreen question of the Fanling caddies A sub-committee went very carefully into this ratior, and wo were persuaded that the general interests of members nécessitated the abolition of the Before considering in detail the other items in the Working Ac

highly paid private caddy, and this was enforced na from 1st Jaly last count, it should be borne in mind that for seven months of the year

The disengaged private caddies under review the catering at Fan

tried mildly to make trouble, but ling was in the hands of Messrs.

I am glad to say that this was Wiseman & Co. The profits on

rapidly overcome, and most of the meals show a decrease of over Turning to the Balance Sheet,

ald private caddies are now to be. $2,000, as compared with 1924/1925, I would remarks that your Commit but against this must to put a tee has given considerable atten- say have been sold gradually at We attempted concurrently with The old bullocks (which I may seen plying for hire ut daily rates. considerable saving on wages dur- ing the 7 months when Messrs. on to the question of debentures.a good figure) were much more ex- this to introduce a system of re- Wiseman & Co. provided most of It does not ecem good business to pensive to maintain, took much wards for those caddies who might the staff; that this saving was not have $15,000 on fixed deposit, my longer to mow the course, wore be well reported on by members, greater is due to the fact that this 4% with debentures outstanding generally difficult to replace and, but this entailed registration year we have had a full wages bill on which 6% has to be paid. Legal of course, required a very high which the caddies refused to coun- to pay in June, July. August and advice was taken, and it appears depreciation figure, being far from tenance even though it would have September, whereas our predeces that there is no obligation for the immortal. (Laughter). I think been to their own benefit. It Mr. N. L. Smith, in his review. sors were saved this owing to the Club to redeem these Debentures you will agree, gentlemen, that the seems unfair that the more beast of the past season's activities, strike, in the corresponding months

at any time. In the past it was Fanling fairways have this winter of burden should be paid as much of 1925, The Fanling catering. Bald:

The accounts for the year show was restored to the capable hands usual in the ease of death or re-been exceptionally good and it is as the skilled enddies, and if the a loss of 86,065.23. It will be re- of Mrs. Korr on 1st June, and tirement to redeem a member's de probable that this is largely due new Committee can evolve some membered that a year ago the is unfortunate that the accounts bentures and then reissue them to to the more frequent cutting that method of evercoming this

now before us refer only to the some other member. general meeting approved of an expenditure up to $17,000 upon lean summer months in this res- arrangements have been made in is now possible. If this is so, we justice they will deserve our con- extensive repairs to all the bulla pect. I have no doubt that mem-such cases not to reissue the de- may hope for an even greater im- aratulations.

I have spoken of the condition ings at Fanling. This work has bers appreciate the present probentures, but to destroy the cou-provement in this respect as the

of the Fanling courses. Desp now been completed and the amount vision made for the inner man at expended thereon during the year Fanling and that the financial repons, and it will be seen that the

A year ago the outgoing Captain Water Bay is, I think, better than under review amounted to $8,472, sults will be entirely satisfactory Club's Hability in this respect has loaving rather more than as much when a full year's working can be been decreased by $3,400. It may bequeathed on the new Committee ever, especially as regards its again to be paid during the current examined. At the same time I be that the continuance of such a two questions for consideration: Breens, despite the very hard wear year. Also certain additional re-think that the Club owes a debt policy will meet the case for the The first was the advisablilty of which it is given throughout the of gratitude, to Messrs. Wiseman future and the liability of the Club engaging a professional. After year. Happy Valley was also in were also nairs (Kerr's house) found to be absolutely neces- & Co, and their Manager Mr. may be gradually decreased as we much thought, your Committee define condition until the July de-

Goodall for tiding over, under sary and these, with Ar. chitect's feex amount almost considerable difficulties, an awk may be able to afford it. If, howelded that the time was not yet luge inflicted terrible damage, exactly to a further $3,500. ward period in the history of Fan-ever, as may be anticipated, the ripe for such an innovation and from which it is only now begin-

ling.

Club has before it a time of pros that the existing system of super-ning to emerge,

Thanks.. Your Committeo felt that it is

perity, I would advise that our vision at Fanling was both econo- undesirable for such a heavy re-

successors should consider the mical and efficient. I am glad to The thanks of the Club are due- pair bill to accumulate in future,

question of a regular bi-annual say that our present Superintento an anonymous member who gave if this can be avoided, and have Working Account, wages have gone drawing as. I think is the moral dent, who has been with the Club a Cup for the best score over 18

therefore arranged "for a regular examination of all of the Club's buildings to be made by Architects very six months.

The Working Account. Turning to the details of the

up at Happy Valley and Deep to the Water Bay, due partly savings in the 1925 strike period, partly to the provision of an emah

This year

usual procedure.

Two purchases were made dur- ing the year under review which,

years go by.

almost since Fanling became golf course, has signed a fresh agreement, which will expire early

holes in this competition.

The thanks of the Club are also

due to Mr. A. Denison, who gave

(Continued on Page 10.) K

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