THE HONGKONG TELEGRAPH,
CHRISTMAS & NEW YEAR ANNOUNCEMENTS
PENINSULA HOTEL
Tuesday, 31st December, 1929 New Year's Eve Carnival (8 p.m. to 1 a.m.)
Special Tea Dance Wednesday, 1st January, 1930
HONGKONG HOTEL
(5 p.m. to 7 p.m.)
(8p.m. to 1. a.m.) Thursday, 26th December, 1929 Boxing Night Carnival. Wednesday, 151 January, 1930 Special Tea Dance (4.30 p.m. to 6.30 p.m.)
REPULSE BAY HOTEL
Tuesday, 24th December, 1929 Christmas Eve Carnival (8.30 p.m. to midnight.) Tuesday, 31st December, 1929. New Year's Eve Carnival (Fully reserved,
bookings now closed.) Special Tiffin (Orchestra 1 p.m..fo 2.30 p.m...
(4.30 p.m. to 6.30 p.m. Special Tea Dance
Special Ferry from Kowloon
Wednesday, 1st January, 1930 Wednesday, 1st January, 1930
Motor Coaches from Repulse Bay Hotel
After Christmas Eve Carnival and New Year's Eve Carnival
י
After New Year's Eve Càrnival-1.30 a.m.
To Hongkong Hotel
To Peak Hotel......
.1.15 a.m.
.1.15 a.m.
Evening Celebrations
Dinner
Special Tiffin
$4.00 per person
$3 00
Fancy or Evening Dress:
Special Tea Dance $1.00
JI
Tables for the above may now be reserved at any of our Hotels.
The Hongkong & Shanghai Hotels, Ltd.
NOW
6
5
OFF
(4)
(3)
you can make scores
3
2
2
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WEDNESDAY, DECEMBER 18, 1929.
BREWER CASE EVIDENCE.
(Continued, from Page 5.)
SCOUTS CONCERT.
PLEASING FUNCTION BY THE
**WAH YAN TROOP.
Variety was the keynote of the Moral Point of View.
concert which was given by a num- On the books as they were, these bor of local residents last night in shares had to appear as they did the Hall of the Wah Yan College' In the balance sheet, at $415.000? (by kind permission of the Head- No. You may have books show-master) in aid of the funds of the ing these shares at the par valuc, 28th Hongkong Troop of Boy but you must not show it in the Scouts, who are attached to the balance sheet as if they are worth college...
that much.
You mean it would not be the honest thing to do. You mean to Bay that from the moral point of view that is not right ?-Not moral point of view.
From the auditor's point of view then. I am suggesting you can not stretch the balance sheet in any other way than by suggestin that these shares were so much, as shown on the books?-No.
"How else can you balance the sheet?--You could have written them down in the profit and loss account. If you don't do so you should have added a footnote to the balance sheet.
It is correct then, if there is a footnote-Yes.
The balance of that item, amounting to $69,000, odd, should be the value of the right to pur- chase, certain bonds? You say that an item like a goodwill is not an investment?-No, in the mean- ing of the word here.
The Bond Issuf..
In the meaning of the word here, I put it to you, Mr. Ross, it is a mattor of plain language, anything you buy, is an investment; it is an investment whether good or bad? Yea; but goodwill should not appear as an investment if the balance sheet is to present a true statement of affairs,
You will agree with me that whatever your views of balanco sheeta'may be, an item of this kind can be described as an investment? →→Yes,
In the selection of the different. Items the organisere left nothing to be desired, and catered for all tastes. Without being dependent entirely on outside talent the Scouts themselves contributed largely towards the success of the evening's entertainment, their ap pearances in a camp fire scene and other items, including a Chinese action song, being excellent
The contributions of the visiting artistos consisted of songs and musical items, while the lighter side of the performance was in the capable hands of Messrs. Chris- tlan and Grenham, described as two coons, who kept the audience in fits of laughter throughout.
Those taking part in the concert were the Misses Stella Ho, Phyllis Gittins, Mrs. H. Kew, the Missen Field, the Rev, N. V. Halward, Messrs. N. Botelho, Peter Cheung, John Cheung, C. Y. Lau, H. Beer, Lee, Sousa, Christian, Grenham and "The Awkward Squad."
The
The funds of the troop should, as a result of this fine effort, be
augmented. considerably function had a more significant fenture in that it was held at a time when the College in celebrat- ing the tenth anniversary of its foundation.
||
"
WATER SUPPLY.
HONGKONG STORAGE SHOWS DECREASE.
As a matter of fact there is this question of $55,000 odd which you
The total storage in the island told has been refunded, according to the booits?-Assuming that the reservoirs on the morning of item is correct, yes. As long as Monday. 16th December, amount- the books are concerned, thated to 1.419.44 million gallons, insue of $58,000 is represented as showing a decrease of 44.93 mil bond issue.
fion gallons during the past week;
I put it to you, Mr. Ross, it 16 the amount collected from streams capable of being described as an being 2.84 million gallons, Investment. I know what your The week's consumption amount- -auditor's views are. We are not
43
Kowloon Supply.
dealing with what is correct ored to 47.77 million gallons. wrong. We are dealing with a serious charge of perjury. It la obvious I must lead you a little further, and put it to you that a thing like, that can be described as an investment?-in balance
4
The total storage in the main- land reservoirs on the morning of Monday, 16th December; amount. ed to 183,29 million gallons, show- ing a decrease of 6.61 million gal In or out of a balance sheet long during the past week. * Yes, it can be described as an in- vestment, but not in the balance sheet.
sheet?
Wasn't there some security on
The week's consumption amount ed to 27.24 million gallons, not including.1.87 million gallons sup
Kos.
mertgage on property in the Newplied to Water Bonts at Lai Chi Territories belonging to tha Instone Banking Corporation? The yield from the Shing Mun think there was at the time of the River and streams during liquidation. I don't think that week was 22.50 mullion gallons. mortgage had been guaranteed at the time of the balance sheet.
the
London, Dec. 17. "Mortgage on Property.
Britain is experiencing an anti- Do you know that it was not the cyclone, with dry, cold weather, case? Are you prepared to swear and the flooded areas in the elsowhere now that the mortgage was not in Thames Valley and existence at the time of the balance are decreasing rapidly. The sheet?
height of the spring tides is ex- Mr. Somerset Fitzroy (Interpos-pected to-morrow, and the danger ing): Well, I can produce the of any flooding in the London mortgage..
gren will end on Thursday after- Was the mortgage, which I think noon. This has been diminished is for $5,000 odd, included in this by the rapid reduction in height item of $266,630?—No. The mort-of the Thames flood water during gage loan was granted sometime the last four days.--British Wire- between the date of this balance | less.
sheet of 1928 and the date when
the Company went into liquidation
in June of this year.
How was the $260,630 made up? had ever made a cent, except for Yes, it is made up of $200,000 on his salary.
Hongkong property, 130 Hongkong.
Electrics, $2,500 and $4,000 which
is a cross-entry: at least I think
Expert Required.
Re-examined by Mr. Fitzroy,
it was a cross-entry. I found that Mr. Ross said that it required an the $2,500 was a Treasury loan expert to prepare a balance sheet, made on mortgage.
Mr. Fitzroy-What sort of ex The balance of that $266,030 ispert? Anyone trained in book. cross-entry from the balance keeping... sheet of the Hongkong branch- Yes.
Not a Cent Except Salary. How do you discover that?-By
tracing out of sight and out of the way. Thiere. is no exposed mechanism ....nothing to, catel dust or dirt.
The new Frigidaire cabin- ets are both practical and beautiful. They are remark- ably easy to clean" The top
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DODWELL & CO., LTD.
Queen's Buildings.
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The object of a bulunce sheet is to show the correct financial posi. tion of a Company at the time?- Yes.
What do you understand by the the original entries term "collateral security?" I refer through the books and journal. Ito what appears in this balanco found the transaction was this: sheet, not what is sluner about the The head ofce books were show street in colloquial language. ing the Hongkong property, and Mr. Ross replied that he under- they transferred the Hongkong stood the term to mean additional properly out of the books of the security. Assuming a person bend office Into the books of the granted a loan and was given a Hongkong office. As a bookkeep-promissory note and also some ing entry, I will put it in this way: shares of another company, he The head office, having lost their would regard these shares, if so "assets" on Hongkong property, deposited, to be collateral security, were obliged to get something in Could your own personal securi- be regarded as collateral its place, so they got the amount of transfer into its place. So in security? No. place of the Hongkong property they had a "loan" which was due from the Hongkong office.
Did it take you some time to discover that?--No.
I put it to you that it would have been obvious to anybody who might be lookir- at the balance sheet 7- No.
It has been admitted by Mr. Fitzroy, Mr, Ross, that nobody was defrauded by this balance sheet; I think you probably know that be- In so I put it to you that there is nothing in. the books to show
y
In reply to further questions by Mr. Fitzroy, witness said that a number of forms applying for shares were written off and trans- ferred to the allotment and sus pense account. Referring later to the figure given in the balan e sheet as stocks, shares and other investments, Mr. Ross sald that the figures should convey the actual value of the shares, unless a foot- note was attached to the balance sheet to explain otherwise.
Mr. Fitzroy Would you, de- scribe the errors you have shown. that Mr Brewer ever had made to us in the balance sheet ng
a cent? No, there is nothing in errors of book-keeping? No, the books to nhów that Mr. Brewer The case was then adjourned.
Hullo,
11
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PRIOR TO THEIR DEPARTURE FOR LONDON
EDGAR WARWICK
ANNOUNCES
A
SHORT FAREWELL VISIT BY THE
WARWICK REVUE CO.
Friday, Dec. 20 Saturday, Dec. 21. Sunday, Dec. 22.
"HIGH LIGHTS”
THE WHIRLIGIG!!. "FAREWELL FARE!
SOLELY TO AMUSE
Plans open at Montrie's and the Star,