~
HOTEL COMPANY'S PROJECTS.
THE
of
in
(Continued from Paye 1.) last financial year. The book less involved 011 theso trans- better business experienced by actions absorbed the reserve that Company in Pelping, which $150,000 and nocensitated, ventured to foreshadow from the addition, that a further 390,712.27 Chair fust your. It will doubtless be borne out of the year's working. prove of interest to shareholders As a large portion of the afore to learn that the Grand Hotel des mentioned funds were not remitted Wagons-Lits, Ltd.-in which con until towards the end of 19 the earn your Company is a holding saving in Bank Interest chargeN Company to the extent of 95% of in Hongkong, resultant upon these the issued enpltal thereof was transfers, will not be wholly re enabled during the financial flected in the Company's Accounts period ending 30th June, 1931, until the figuren for the year 1932 not only to retire completely are dealt with. through its own reyources the Debenture Issue amounting to $2:11,000, but was also in a posi-
Commission arid Depreciation,
With regard to the item of
tion to effect a distribution of $61,127.07 appearing as a charge
10% un ita ordinary capital. for Commlesions, us, on rom-
AD
to 112
Furthermore, the financial prison with figures appearing position, at the aforemention
ander heading in past years, this date was such that, apart from beitem may appear heavy, I would ing freed of all debt, a reserve had state. In explanation, that a re- been built up of the equivalent of adjustment of the basis of. 50% of the pald up cupltat and of muneration of a large number of such reserve 32-1/Brd per cent, vis- the Company's staff is recountable -vis the capital of the Compasy for this. During the year it was is invested in Brat class securities, found expedient to effect
alteration to the hania of salary Reduced Expenditure,
payments to Managers and heads Returning to the Profit & Loss of departments in the Company's Under $24,215.30, various establishments. Account, the sum of
the credited In respect
arrangements the of "Pekmium
amended remuneration paid comprises A on Shares" was rendland from the rem
lanie sules on the
salary open market--your maller Board directed to be made-of cor employee, hat ja Augmented by a fain shares out of the Company's large percentage by way of com- mission on the working results last two bisnes stupitad which
shewn by respective departments. had not been been up by those Although the combined charges in holders of old shuyes entitled to
the Company's Accounts in respect apply for them.
of such payments to the Diverting your attention to the el involved shows no material contra side of the Pruit &
Increase the apportionment as Account, I would comment upon the between
**salary nud "com- Item-Rent, Rates,
Taxes A
mission" reveals a much heavier Licences"-$167,635.46, Compari-charge under the latter heading. son of this figure with the like is proposed in future necounts to item last year's accounts reveals | charge the whole of such remunera- a reduced expenditure this year of con ngatust the General Working $40,444, This reduction is Accounts and confine the Profit und acrotinted for by the fact that Just Loss Account item of "Commis- year's figures feluded a charge forsiona" solely to administrative pay- rental in respect of the Company's ments which may occur ander this
Majestic tenancy of the
Hotel, Fonding.
You will rate that the past year's Shanghai, during the first quarter of that yrat,
Inccounts disclose the provision of for Mortgage adequate depreciation, before com- The null charge und Bank Interest is, for the period mutation of the figure of profits be under review, $145,000 lower than fore you for allocation, and I would the commitment nader that head-point out that, in addition, a con-
siderable ing during the preceding
pert
of the work effected The incidence of transfer Tron in maintalaing and moderizing the Shanghai during the year of the Company's assets has been borne You will observe sale proceeds of the Majestic Hotelut of revenue, Property which stand to the Com-that the Profit and Loss Account pany's credit there funds to which includes expenditure amounting to I nude reference at the last an-137.872.22 for the year in relat mual meeting and the receipt of
Further, out of the balance some $2.000,9999 in respet of the standing to the credit of Repairs Now Issue of Shares made on the and Renewals Account at the begin- 11 July et contributed mainly ming of the year, $48,707.23 hna to this considerable saving in Juheen absorted in relation to the
Nome
Jerest.
"Loss on Exchange.”
vene.
to this.
cost of part of the improvements. effected to the ground and Brot floor areas of the Hongkong Hotel
i would here make reference to not capitalism,
th tiem of $90,712.27 "Long Exchange" borne by fast Praft & Luss Account.
זין
year's
I reviewing the assets side ot the balance sheet, there would n At the pears to be no outstanding featuv Annual General Meeting held inpon which to comment, for the ap April, 1936. Shareholders, in dead-plication of the depreciation provi- ing with appropriations of profit accounts, in most instances, made in respect of the financial for differences disclosed when com
arine respective figures of assets year 1929, adopted the Board's re
with those appearing in last year's commendation that $150,300 out { ****
+ip
of the balance at credit of Profitcounts, with one exception, ie,
to
an
Account" with
ffecting provision
#$
View
he item “Tiklings", which this
and Loss Account be transferred year is recorded at a sum of $150,-:
"Exchange Fluctuation 400 higher that appeared last year. This increase represents mainly the fosse capitalised portion of the expendi- on exchange involved in making ture on the improvements carried remittances from Shanghai fo put to the Hongkong Hotel Build- Hongkong, having regard to the ing in reconstructing the ground fluctuating стова rate between floor and the first floor areas, Shanghai Taels and Hongkong
Dollars. During the year under
Popular Lounge.
review the exchange position be- Whilst on this subject, I can report. tween the Northern Port and that the completion of this work, Hongkong rendered difficult the which brought into productive transfer of funds standing to the operation a hitherto deati area and credit of the Company in Shang-fulfilled the long apparent necessity hal. It was deemed advisable, for improving the grill room, restau- however, to take advantage of rant and lounge facilities of the opportunities which arose during Hongkong Hotel, produced an im-
the trend year, when
of mediate Increase in
in business, auf- exchange Inclined comparatively ficiently gratifying in volume to favourably, to make transfers, as permit an optimistic outlook with the immediate actual saying in regard to maintaining, out of the Interest payments effected by the earnings produced from the recon- consequential reduction of
our structed property, an adequate re- Indebtednes to the Bank in turn upon the expenditure made in Hongkong out-weighed the Bank respect of such work. loss such transfers involved.
the
With regard to the liabilities side Transference of approximately of the balance sheet, you will ob- 38 lakhs of dollars from Shanghai) serve that the authorised capital of to Hongkong was made during the
(Continued on Page 7.3
HONGKONG TELEGRAPH. FRIDAY, MARCH 18, 1932.
FURTHER REDUCTIONS
FOR THE
LAST TWO DAYS
OF OUR
TRIPLE-SAVING SALE
TO-DAY AND TO-MORROW ONLY!
We are doing record
business which is proof of the genuineness of this Sale.
Lovely and charming wash- able Dressing Gowns for men from $10.00
Heavy reduction on shawls, padded embd: Kimonos and Dancing Coats.
Damascene Cigarette Cases from $3.00 Damascene Cuff Links K24 from $2.00
Crystal Necklaces & Chokers from $3.00
and many other Novelties.
DAINTY SHANGHAI UNDERWEAR INCLUDED
NEW SHIPMENT of
PRINTED GEORGETTE
and
CREPE de CHINE
FOR SUMMER
3 REASONS
I-Exchange in your favour.
OUR HEITISH CROSSWORDS,
Acrom
1 The prement compiler sports une,
A little sparkier-apparently to try and find and gain!
10 Part of America.
F
13 Prescience of value Lo the
Marksman.
16 "Pride, pomp and circumstance
of glorious—" (Othello).
16 Puck's master,
19 Drink that becomes
gift in T.N.T.
£
natural
21 Often upset over trifen.
2-Lateat prices lower. 3-Our low overhead.
Printed Crepe-do-Chine Printed Georgette Double width Orepe-de.Chine ali shades... Georgette all shades Double width Fuji Silks all shades Heavy quality 70 Spun Crape Heavy quality all shades 1.85 Bokhara Bilk all shades
1,30 Bokhara Silk all abades Double width $1.00 a yd. Orape-de-Chive all shades,.
1 00
$1.75 a yd,
2,20
"
11 Uniliko Adonis.
1,45
12 in Somerset.
1.25
་་
French Crepe Friated
1.76
Spun Crepe Striped ...
.D5
Satin Crepe all shades Reavy quality 2 65 Silk Batin all shades
1.80
H
Silk Taffets all shades Washable
1.50
Shanghai Crepe-de-Ohine oli sbades
1.20
M
Silk Stockings
from $1.05 pair
Bridge Coats
8.50
##
Ladies' Dressing Gowns
5 60
13
Silk Ecuri Coats
4.00
Bedroom Slippers
1.25
Ladies' Hand Bags
8,00
Gents' Bilk Shirts ... $4 25, $6,00 & $ 7,00 Gents' Bilk Pyjamas $7.50, $8.50 & $11.00 Silk Neckties
50 cts. 75
22 An American general,
24 Treo.
| 26 You might think this official
always on edge.
29 Why must you talk and keep Philip awake, when Diana begs you to be quiet? (hidden).
31 The pride of Athens.
32 A French sweetmeat.
34 The Egyptian sounds
caught.
136 A reigning monarch.
even.
volgariy
36 Undoubtedly odd, but ends quite
37 The art of Pheittion and
Praxiteler.
Down
com-
2 You may not think this
plexion British, but it's every. thing in a pig.
3 Lustre is one product of this
part of the U.K.
Acid from sorrel,
Operalle composer.
from
Silk Handkerchiefs
*
Slik Nockties & Handker-
chiefs Sets
In County Cork.
from $1,26 a got
7 Anhenth to nhako.
Silk Socks
Silk Tossor for Bulling
.65 pair 1.00 yard
8 Tedding
an
10 apparently inside karface of ink.
A certnin Shakespeare Christo- pher.
EXCHANGE RATES.
LADIES' & GENT'S TAILORING A SPECIALTY MAKING CHARGES THE LOWEST IN TOWN-FIT GUARANTEED Paris..
Shirts and Pyjamas can be made to order within a short time.
THE CROWN SILK STORE
5, Wyndham Street. Just Past Morning Post Building.
SHARE PRICES.
TO-DAY'S QUOTATIONS.
The following is the list of local share quotations issued to-day:
Ilanks.
Hongkong Banks, $1,460 8. Chartered Banks; £11% 1. Mercantile A. and B., £20 n. Enst Asia, $1223
Insurances. Canton Ins., $1,350 n. Union In, $146 m. China Underwriters, $1.10 n. China Fires, $590 1. H.K. Fire In., $1,250 .
Shipping.
Douglases, $261⁄2 b.
H. K. Steamboats, $23 n. Indo-Chinna, (Prof.) $32 n. Union Waterboats, $25 o.
Mining. Bengueta, $11.75TMn. Kailaus, 30/- 1.
FRECKLES AND HIS FRIENDS
REDUCE without DIET
USE
LEIGHNER SLIM FIGURE
BEAUTY BATH "1001."'
FIL TELL FRECKLES TO
DYS JUST FORGET THAT OLD DOG UNDER THE SHEO...ITS COST
ME A DIME ALREADY... AN
NO DOG'S WORTH THAT
MUCH !!!
S'hai Explorations, Tls. 2.10 n. Raubs, $39 n.
Docks, etc. Kowloon Wharves, $1441⁄2 n. Whampon Docks, $27 sn.. South China Motors $10 n. Providents (old), $4.85 1). Hongkowa, Tls. 220 . Now Engineers. Tls. 61⁄2 n. Shanghai Docks, Tis. 90%1⁄2 1.
Cottons.
Ewo Cottone, Tls. 1-1.60 su. Shanghai Cottons, Tis. 801⁄2 n. Zoon Singa Tis. 11 n.
Lands, Hotels, etc.
II. K. Hotal (old) $14.15 b.
II. K. S. Hotels (new) $13.85 b. H.K. Lands, $741⁄2 b. S'hai Lands, Tls. 27 n. Humphreys $18. Realties, $10.30 b.
Public Utilities. Tramways, $20.90 b. Peak Trams, (old), $15.60 n. Star Ferries; $91 b. China Lightя, $20.50, h.
HEY! HOW DYA
GET HIM OUT 3
H. K. Electrics, $74 b. Macao Electrics, $23 n. Telephones, $41 n.
China Buses, Tis. 16 n. Singapore Tractions, 3/- n.
Industrials.
Malabona, $22 R. Canton Ices, $5 b. Cements (com.) $18.50 b. Ropes, $16% -5,
etc.
Stores, Dairy Farms, 328.26 b. Watsons, $16% n. Der A. Wings. $1 n. Lane Crawfords. $5.50 b. Mackintosh, $19 b. Sinceres $14.70 n. Powells, $8.60 n.
Miscellaneous, Amusements, $20 b. Entertainments (old) $15% n. Constructions (old) SG b.
S. C Enterprises $10 m.
B. Ind. G. Bonda, $58% n. Loans, $4% b. Prem. Constructions (new), $1.75.n.
Oscar's Dog!
OHLWE JUST TALKED NICE TO HIM AN' HE CAME OUT.. FINDER'S
KEEPERS,Y" KNOW |
Geneva.
Berlin
Oslo..
Helsingfors Athens
Previous Day.
.02.1/16
Buenos Aires Shaoghal.
| New-York.
Amsterdam. Vienne Mudrid,
18,70 16,25
.18
21714
Is The vulgar scoptic's romark.
17 He tries to keop London spot- less, but, soon after the start. he looks like the follow to pay
you out in the end.
18 Shameless but not confined to
cleanshaven men...
10 This ration is never unwelcome
to a Life Guardsman,
20 Entirely
Eskimo.
Scotch,
yot
half
23 Square this for satiety.
26 Chat ice (unag.) might describe his temperament with little exaggeration.
27 Thoroughly stirred up, and the une in the cane is obvious." 28 The part of the saddle to bent. 20 Sometimes responsible for a lost
ball.
30 Author of "The Bridge of San
Lula Rev,"
33 Not part of speech, though part
of tongue.
Yesterday's Solution. SHAPELESS M L (YEA CE NATURE MABSAURE UFI ETIN ASHPAN BEVERNERNE BB TUURIGOR TRUEST BE PORTEN D 50178OR IP" JU EASTER ORBIT | C |ANHT BE AN ASHLAR [FILTES TF ENV
COFFENDED
NINETYULE H
"S" FREESTONE
Bucharest. Hongkong Brussels...
Yesterday. Milan
607%
607% .1/4.5/10
1/4.8/16
25,07 70
25.00
70.1/16
91% Stockholm 18.23/32 Copenhagen.
.18%
18.8/16
.18.15
18.8/16
15.3/18 Prague.
.122%
12234
18 Lisbon.
.100
100%
217% Rio
4.1/18
4.1/18
.200
287 Bombay
.1/6.5/32
1/6.6/82
.38%
38% Yokohann:
1/04
1/10,1/10
1/0.13/16 Montevideo
.30
1/0%
00
3.624
3.61% Montreal
4.00
-4.05
8.97 .32 .47%
8.97% Silver (spot)...184
18
(forward) 18%
18%
47%
--- British Wiralose.
Thrilling! Regal!
Itinerary. Luxury,
Sensational!
Artistic Satisfaction.
ATHENA.
MODERNISTIC FURNITURE
G.
INTERIOR DECORATION.
I GUESS NOT! HES MY 006, 'CAUSE I WAS FIRST TO START AFTER HIM WHEN HE GOT AWAY FROM THE DOG CATCHER –
AN' L SPENT TEN CENTS ON HIM ALREADY, TOO..........." HE'S MINE, J✨ I TELL
YOU!!
Tai-ping Building, 4th Floor,
By Blosser
OH, ALL RIGHT..-1 WOULDIET VIANT A BIG DOG LIKE THIS, KISSIN' MG, ARYNASÉILE AND RESIDES, WE GOT JUNDA L',
YEAH..THERE ISHT, ANOTHUBSZ DOG LIKE OUR JUMBO!!
Add it to a warm Bath.
SAFE and SURE,
THE PHARMACY
Asilio Building.
Tel. 20945.
ETALA TAM
MEANTIME FRECKLES AND TAG
HOVE COANED
THE DOS
ERDIA UNDER
Page 5Page 6