HOTEL COMPANY'S PROJECTS..
THE HONGKONG TELEGRAPH. FRIDAY, MARCH 18. 1932.
of
in
(Continued from Page 1.) inat financial year. The book foss involved on these trans- better business experienced by actiona absorbed the reserve that Company in Peiping, which I $150,000 and necessitated, ventured to foreshadow from the addition, that a further $90,712.27 Chair that year. 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 1931 the cern your Company is a holding saving in Bank Interest charges Company to the extent of 9h of in Hongkong, resultant upon there the issued enpital thereofwas transfers, will not be wholly re- enabled during the financial Sected in the Company's Accounts period ending 10th June, 1931. until the figures for the year 1932 not only to retire completely are dealt with.
through its own геялитсен the Commission and Depreciation.
Debenture Invue amounting to $231,000, but was also in a. posi-ļ tion to affect a distribution
آوری
With regard to the item 61.127.07 appearing as a charge 10% on its ardinary capital for Commissions, as, on cam- Furthermore, the financial parison with figures appearing! position, at the aforementioned under heading in past years, this date was such that, apart from beitem may appear heavy, I would ing froed of all debt, a reserve hud state. in explanation, that a re- been built up of the equivalent of adjustment of the basis of re- 80% of the paid up capital and of muneration of a large number of such reserve 33-1/3rd per cent, vis-the Company's staff is accountable a-vis the capital of the Company for this. During the year. It was is invented in first class securities. found
expedient to effect
16
alteration to the basis of a surg Reduced Expenditure.
payments to Managers and heads Returning to the Profit & Loss of departments in the Company's varlour establishments. Under $24.216.30. Account, the sum of
the amended arrangements the credited in respect of "Premium on Share", was realised from the remuneration paid comprises
basic
to the sulary Baller sales on the op market your employee, but is augmented Board directed to be made of crarge percentage by way of cont tain shares out of the Company's mission on the working results
or Capital which
shewn by respective departments.
inst two insures
had not been taken up by the Although the combined charges in holders of old shares entitled to apply for them.
and
the Company's Accounts in respect of such payments to the person. Diverting your attentim to tla
involved shews no material Laas contra side of the Prafit. &
Increase. the apportionment as Aercunt, I would comment upon the between "salary“
"com- Item "Rent, Rates Taxes &mission" reveals a much heavier Licences"-$167,635.86. Compari-charge under the latter heading. son of this game with the Be it is proposed in future accounts to Item in last year's serounts reveals charge the whole of such remunera- on against The General Working a reduced expenditure thin year of
This reduction is Accounts and confine the Proft and some $40.44 1. accounted for by the fact that last Loan Account item of "Commis year's figures included a charge forsions" solely to administrative pay- rental in respect of the Company's ments which may ocear under this
Hotel, heading... Majestic tenancy of the Shanghai, during the first quarter of that year.
year.
You will note that the past year's secounts disclose the provision of The nett charge for Mortgage adequate depreciation, before com- and Bank Interest is, for the period mutation of the figure of profits be- ander review, $145,000 lower than fore you for allocation, and I would the commitment ander that head-sint out that, in addition, a con- siderabir of the work vilected
jar ing during the preceding
fram in malataining and moterizing the The incidenes of transfer Shanghai doring the year of the Company's assets has been borne You will observe sale proceeds of the Majestle Botrit of revenue. Property which stood to the Com-that the Profit and Loss Account includes expenditure amounting to Finals to which pany's credit there I made reference at the last un-1757-22 for the year in relation nual meeting and the receipt of
Further, out of the
balance
eme $2,000,080 in respect of the standing to the credit of Repairs New Issure of Shares tande on the wal Renewals Account at the begin- ist July last, contributed mainly wing of the your, $48,797.23 has- totius considerable saving in the absorbed in relation to the forest.
to
"Laws on Exchange."
I would here make reference to
201
on
cost of part of the improvements effected to the ground and first Bloor areas of the Hongkong Hotel not capitalised.
In reviewing the assets side of ib tiem of $90.712.27 "Loss
year's the balance sheet, there would n Exchange" borne by last
At the Pars to be no outstanding feature Profit & Lost Arecami. Annual General Meeting held in upon which to comment, for the up- April, 1990, Shareholders, in deal-plication of the depreciation provi- ing with appropriation of proti acemunts, in most instances, made in respect at the thanrid for differences disclosed when com year 1999, adopted the Board's rearing respective figures of assets commendation that $156,6 with those appearing in last year's of the balance at credit of Profiteunts, with une exception, ie, The item "Buildings", which this and Loss Account be transferred year is reemded at a sum of $150,- Fluctuation on higher than appeared last year. "Exchange Account" with it View This increase represents mainly the -feeling provision
losses capitalised portion of the expendi- on exchange involved in making ture on the improvements carried remittances from Shanghai tout to the Hongkong Hotel Build- Hongkong, having regard to thefing in reconstructing the ground. Auctunting
rate between fluor and the first floor areas.
Hongkong Shanghai Tacks and
Popular Lounge. Dollars. During the year under review the exchange position be Whilst on this subject, I can report tween the Northern Port and that the completion of this work, productive Hongkong rendered dimeult the which brought into transfer of funds standing to the operation a hitherto dead area and redit of the Company in Shang-fulfilled the long apparent necessity hai. It was deemed advisable, of 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 year, when the trend of mediate increase in business, auf-
inclined comparatively ficiently gratifying in volume
cross
to
exhly, to make transfers, as permit an optimistic outlook with i
the immediate netal saving 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- indebtedneri the Bank
to
intern upon the expenditure made in Hongkong out-weighed the Book respect of such work.
With regard to the liabilities side Joss such transfers involved.
Transference of approximately of the balance sheet, you will ob- 38 lakhs of dollars from Shanghai serve that the authorised espital of
(Continued on Page 7) to Hongkong was made during the
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 shawis, padded embd: Kimonos and Dancing Coats.
Damascene Cigarette Cases from $8.00 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
1-Exchange in `your favour.
་
OUR BRITISH CROSSWORDS.
Acrome
1 The present compiler sports one.
A little sparkler--apparently to try and find and gain!
10 Part of America.
14 The vulgar seaptic's remark,
17 He tries to keep London spot-
less, but, soon after the start, he looks like the fellow to pay you out in the end.
18 Shameless but not confined
cloanshaven men.
19 This ration in nover unwelcome
16 "Pride, penip and circumstance
little
2-Latest prices lower. 3-Cur low overhead.
Printed Crope-do-Chine Printed Georgette Double width Crepe-de-Chine sil shades... Georgette all shades Double width Taj Bilks all shades Heavy quality Spun Crepe Heavy quality all shades 1.35 1.30 Bokhara Bilk all shuden Bokhara Silk all shades Double width $1,90 a yd.
1.00 Crope-de-Chine ail abados,.
$1.75 a ya.
2.20
to
+
11 Unlike Adonia,
1.45
++
12 In Somerset.
1.25 70
13 Prescience of value
to
the
to a Life Guardeman.
*
marksman.
20 Entirely Scotch,
yet
half
Eskimo.
of glorious" (Othollo).
►
16 Puck's master.
1
Drink that becomes
natural
gift in T.N.T.
French Creps Printed
1.76
Spun Crape 8triped
.95
Batin Crape ali shades Heavy quality 2 05 Silk Satin all shades
1.90
Bilk Taffeta all shades Washable Shanghai Crepe-de-Ohine all shades Silk Stockings
1.50
32 A French sweetmeat.
1,20
from $1.85 pair
34 The Egyptian sounds
caught.
vulgarly
Bridge Coats
2,50
Ladies' Dressing Gowns
5 50
Silk Houri Coats
4.00
..
Bedroom Slippers
1.25
**
3.00
Ladies' Hand Bags
Gents' Silk Bhirta... $ 25, 86.00 & $7,00 Gette' Silk Pyjamas $7.50, $8,80 & $11,00
from 8lik Nacktion
35 A reigning monarch.
21 Often upret over trifles.
22 An American general, 24 Trea.
26 You might think this official is
always on edge.
20 Why must you talk and keep Philip awake, when Diann begs you to be quiet? (hidden).
31 The pride of Athens.
of this
23 Square this for satiety:
25 Cast ico (anag.) might describe
his temperament with exaggeration.
27 Thoroughly stirred up, and the
ase in the cane is obvious. The part of the saddle to beat. 20 Sometimes responsible for a lont-
boli.
30 Author of "The Bridge of Ban
Lula Rev." 83 Not part of speech, though part
of tongue.
Yesterday's Solution.
SHAPELESS M S
■LEC NATURE MASSAURE LFI DUTE ABEPAN SEVERN ̃ERNE" B ̈ B EKIGON TRUEST YIFE” E PORTEND SCISSOR PUT A LIB EASTER ORBITC API JEAN" ASHLAR FILTES TRAVE
CHETOFFENDED
NINETY ULEB"
PREESTONE
36 Undoubtedly odd, but ends quite
of Pheidiar Rrt Praxiteles.
even.
37 The
· Down
.
2 You may not think this
and
com.
plexion British, but it's every. Thing in a pig.
50 ct..
3 Lustre in one product
part of the U.K.
Silk Handkerchiefs
75
#
t
4 Acld from morrel.
Juk Neckties & Handker.
chiefs Sets
6 Operatic composer,
Silk Socks
Silk Tossor for Suiting
from $1.25 a nat .85 patr 1.00 yard
7 A sheath to shake.
LADIES' & GENT'S TAILORING A SPECIALTY {MAKING CHARGES THE LOWEST IN TOWN-FIT GUARANTEED:
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!
Banks. Hongkong Banks, $1,460's. Chartered Banks, £11 n. Mercantile A. and B., £20 n. East Asin, $123 8.
Insurances.
Canton Ins., $1,350 n. Union Ins.. $445 n. China Underwriters, $4.10 1. China Fires, $500 n. H.K. Fire In., 31,250.
Shipplag. Douglascs, $20%1⁄2 n. H. K. Steamboats, $23 n. Indo-Chinas, (Pref.) $32 n. Union Waterboats, $25 n.
Mining. Benguets, $11.75 Kailans, 30/- n.
FRECKLES AND HIS FRIENDS
REDUCE without DIET
USE
LEIGHNER SLIM FIGURĘ
BEAUTY BATH "1001."
I'LL TELL FRECKLES TO JUST FORGET THAT OLD DOG UNDER THE SHED...ITS COST ME A DIME ALREADY... AN'
NO DOG'S WORTH THAT
MUCH!!
S'hai Explorations, Tis. 2.10 n. Rauba, $39 n.
Docks, etc. Kowicon Wharves, $144 n. Whampoa Docks, $27 sa. South China Motors $10 n. Providents told), 34.85 h. Hongkews. Tls, 220 n. New Engineers Tls. 61⁄2 12. Shanghai Docks, Tia. 90% 0.
Cottons,
Ewo Cottons, Tis. 14.60 sa. Shanghai Cottone, Ta. 80% R. Zoon Sings Tin. 111⁄2 n.
Lands, Hotels, etc.
H. K. Hotel (old) $11.15 b.. H. K. S. Hotela (new) $13.85 b. II.K. Lands, $74% b S'hai Lands, Tla, 27 Humphreys $18. Realties, $10.30 b.
Public Utilities. Traniways, $20.90 b. Peak Trams, (old), $15.60 n. Star Ferries: 891 b. China Lights, $20.50 b.
HEY! HOW'DYA
GET HIM OUT?
1. K. Electrics, $74 b. Macno Electrics, $23 n. Telephones. $41 n.
China Busca, Tis. 16 n. Singapore Tractions, 3/- n..
Industrials..
Malabons, $22 *.
Canton Ices, $5 b.. Cements (com.) $18.50 b. Ropes. $16 b.
Stores, etc. Duiry Farms, $28.25 b. Watsons, $164 n. Der A. Wings. $1 n. Lane Crawfords, $5.50 b. Mackintosh, $19 b. Sinceres $14.70 n. Powells, $3.80 n.
Miscellaneous. Amusements, $20 b. Entertainments (old) $15% n. Constructione (ald) $0 b.
9. C Enterprises $10 n.
B. Ind. G. % Bonds, $58% n. Loans, $4 b. Prem. Constructions (new), $1.75 a.
Oscar's Dog
OH....WE JUST TALKED NICE TO HIM AN' HE CAME OUT.- FINDER'S KGEDERS,Y'KNOW
In County Cork.
to
113
X Tending
apparently
inside surface of ink.
A certain Shakespenre Christo- pher.
EXCHANGE RATES.
Yesterday. Milan
91% Stockholm 18.23/32 Copenhagen.
16.3/16 Prague.. 18 Lisbon
217 Rio
287 Bombay
38% Yokohama.
1/9.13/16 Montevideo
3.61% Montreal.
8.97 50ver (spot) .13%
(forward) 184 ----- -
Osto.....
.200
Previous Day.
Paris,
.92.1/16
Geneva.
.18.70
Berlin.
16.25
.18
Helsingfors.
,217
Athena...
Buenos Aires
UB
1/10.1/16
.3.82%
.8.97
..:32
.47%
| Shanghai.
New York. Amsterdam.
חתוני}
Madrid.
Thrilling! Regal!
Bucharest. Hongkong
Brussels,
00734 .1/4.6/10 .25.971
6074 1/4.8/16
25.90
70.1/16
18
18.3/16
.18.15-
18.3/16
.1224
12234
100
109%
.4.1/10
4.1/16
.1/8.5/32
1/6.5/32
.1/04
1/0%
10%
30%
.4.00
4.08
18
.18%
-Britisk Wireless.
+
474
Itinerary. Luxury.
Sensational!
Artistic Satisfaction.
ATHENA.
MODERNISTIC FURNITURE
&
INTERIOR DECORATION.
I GUESS NOT! HES MY DOG, 'CAUSE I WAS FIRST TO START APTER HIM WHEN HE GOT AWAY FROM THE DOB CATCHER -
AN I SPENT TEN CENTS ON HIM ALREADY, TOO.......... HE'S MINE, I TELL
you!!
Tai-ping Building, 4th Floor,
By Blosser
OH, ALL RIGHT.......I WOULDN'T WANT A BIG DOG LAKA THIS KISSIN' ME, ANYWAY ... AN' BESIDES. WE GOT AMBo
YEAH. THER ISNT ANDOLENCE, DOG LIKE OUR JUMBO..
Add it to a warm Bath.
SAFE and SURE,
THE PHARMACY Asitio Building.
Tel. 20345,
IN THE
MEANTIME FRECKLES
AND TAG
HAVE CAKED
THE DAY FROM WHILE