J
SIMONDS
LK STOUT
MILK STOUT
15
"Good in Cold Weather! CALDBECK, MACGREGOR & CO., LTD. Sole Agents:
TELL US TO FORWARD
A PARCEL OF THE
FOLLOWING TO U.S.A.
AT ONCE!
CHRISTMAS. PARCEL Mail for U.S.A. PER S.S. "PRES. CLEVELAND"
will be closed on
FRIDAY, 25th NOVEMBER, at 3 P.M.
CHINA TEA
Finest Hankow Tea No. 1, per 5 lb. box Finest Koemun Tox No. 1, per 5 lb. box Finest Orange Pakoa Tea, per 5 lb. box
$11.50
$13.50 $13.50
DRIED STEM GINGER
5 x 1.lb, tine, choicest
Duty and All Charges Paid.
$12.00
Estimate given and arrangement made for bther kinds of articles delivered anywhere.
THE SINCERE CO., LTD.
DINNER DANCES
on'
EDNESDAYS, FRIDAYS
and SATURDAYS.
9-12.
İK ADAMSON'S MODERN MUSIC
ORCHESTRA WILL BE IN ATTENDANCE,
AT THE
CLOUCESTER BUILDING
THE HONGKONG TELEGRAPH. THURSDAY, NOVEMBER
FIRST VEHICULAR
FERRY
LAUNCHED BY MRS. W. T. SOUTHORN
DOCK CEREMONY
A red-letter event in the history of The Colony took place yesterday afternoon when Hongkong's first vehicular ferry, the Man Kung, was successfully launched, froni the alipways of the Hongkong and Whampoa Dock Company, Limited.
The ceremony of christoning and launching the boat was ably porformed by Mrs. W. T. Southorn, wife of the Hon. Colonial Secretary.
A mallet was used to sever wiring connected with an electrical device wheil brought the customary battle of champagne into contact against the bows and released the ship. The last supports were knocked away, and the Man Kung, Hengkong's first vehicular ferry, built and engined at a cost of $600,000, glided smoothly into the water, to the accompaniment of the firing of a string of crackers for luck and excited exclamations from the throng assembled on the platform and thickly clustered on the fabrics of her two sister vessels. being built on the stocka near-by.
Afterwards the guests, numbering some 200, adjourned to the offices where a number of felicitous speeches were made and the customary toasts honoured with great enthusiasm.
The Hon. Mr. J. P. Warren, Chair- man of the Dock Company, in extend- ing a warm welcome to those present, Baid:
Mr. and Mr. Southern, Ladies and Gentlemen. Firstly let me thank you for honouring us with your pre- Benco here to-day.
Mrs. Southorn, on behalf of the Directura and Management of the Hongkong and Whampoa Dock Co. I should like to express to you our deep sense of gratitude for your kind. Deks in coming all this way to nasist at the christening of the new vehicular ferry boat Man Kung, a ceromony which you have just performed so gracefully and successfully. Nautical men have the reputation of being superstitious and you have doubtless heard of their aversion to going to sea on a Friday, especially if it should happen to full on the 18th of the month, and should a hitch occur at the Launching of any craft it is always Laken as a bad omen and precursor of fortune, but from the perfect way in which the Man Kung took the water to-day, there should be no doubt as to her future, thanks to the gulding hand which started her off in life in a proper and Atting manner. (Applause.)
The launching of the first of the three vehicular ferries certainly forms an important chapter in the history of Hongkong, and definitely marka öne of the outstanding mile stones in the Celony's progress and development, and the Government is to be con gratulated on this new undertaking, providing as it will do a regular and up-to-date service for vehicles and passengers.
Old Lighter Passcs.
As an occupant of one of the offices on the waterfront, I look upon tho passing of old motor car lighter with mixed feelings. No more will the workers in Queen's Building be able to relieve the monotony of their lives by watching the fate of cars being hoisted on and off the lighter, to say nothing of the adventures of the un- fortunate ponies which perforce have to cross the harbour from time to Limo. (Laughter).
On the other hand we shall have the advantages of a modern and much needed service which will be a great boon and convenience to motorists and lovers of horseflesh.
Mrs. Southern, we all know that you are a very busy woman and we there fore appreciate all the more your pre- sence here to-day, and I shall con clude by thanking you once again for the service you have just rendered to the Yaumati Ferry Co. and the Hong- kong and Whampoa Dock Co.
Ladies and Gentlemen, I would ask you to rise and drink success to the Man Kung coupled with the name of Mr. Southorn the gracious sponsor. (Applause).
Colonial Secretary's Reply. The Hon. Mr. W. T. Southern, in responding said:
Mr. Warren, Ladies and Gentlemen, On my wife's behalf I should like to thank the owners and builders for giving her the privilege of launching the first of the new vehicular ferry boats this afternoon, thus bringing ono step nearer the inauguration of that long desired link between Hongkong and Kowloon. Mator cars have now become so much a part of our daily life that we feel loat without them and I cannot but think that Hongkong and Kowloon have been drifting for ther apart since motors became almost universal, for unless one can afford to have a rotor car on each side of the harbour one always has a tendency to be on that side of the harbour on which one's car is. But now we can revine the old song
"A boat, a Boat, Haste to the ferry And we'll go over and be merry" and in future we shall sing
"A„gar, a car, Haste to the ferry And we'll go over and be merry.
(Laughter),
You will notice that ferries are: traditionally associated with morri- ment no that we are justified in our optimism on to the advantages to be gained from an improved ferry ser vlce, and with the introduction of the Vehicular Ferry I look for a greater Appreciation of Kowloon by Hongkong and a greater sympathy with Hong- kong by Kowloon, and for a fuller in- terchange of ideas between the more conservative mother and her very modern and go-ahead daughter. Mr. Warren made use of the expression "all this way" in his remarks. By the aid of the Man Kung and her sister ships we hope to change that expres- sion into "this short distance" and so bring Hongkong and Kowloon into (Continued on Page 12.)
CHINA
1992:
REALTY COMPANY 8% DEBEN TURES 8% INTEREST VS 6% INTEREST MEANS ONE THIRD MORE INCOME
The following extracts are taken from the Chaleman's 'statement at the fast annual Sharoholders' Meeting, February 29th, 1932.
"We feel that the Debenture holder from an investment, stand- point, is just as much an interested partner of the Company as the Common Shareholder and is entitled to his just retum on his invest- ment, and by the figures given on the two years' working. I think wo have amply proven that we were right that our Debenture holders receive eight per cent, interest instead of six per cent.”
"The most successful concerns of the future will be those who recognize this principle-that even banks will allocate to depositors a part of profits earned on their money over and above current rates of Interests. As our balance sheets show quite plainly, the proceeds from the sale of our debentures is not used for the purchase of Real Estate, as we are not speculators, but for investment in first class mortgages, amply secured not only by the value of the property pledged as security, but as a further security, the debentures constitute a first claim on the total assets of the Company. An analysis of the figures involved shows that every debenture has behind it assets equal to three times its value."
· .
"If aftor.careful consideration of actual facts and figures you aro receiving less than 8% upon your investments and/or savings, you are not using judgment but following old customs, believing 5% and 6%
are current rates."
COMPARISON
Mortgage Department, 1930-1931
Excess Interest, Over 80% $119.614 255,291
Amount Commission Earned #122,316
Market
Year
Amount
Value of
% Value
Property
1930
1931
10,052,040 19,194,867
$18,662,000 34,075,565
loaned 54%
56%
Average Average Interest Commission
rate
0% 9.18% 1.215% 9.33% 0.765%
146,825
€373,905 $269,141 373,905
Earned above 8% paid to Debenture heldem— $643,046
Of the above mortgages, there was assigned to investors:
1930 1931
* 6,532,660.00 #13,223,545.00
A lower rate of commission existed in 1931 due to cheap money for the greater part of the year, from September, money commenced to tighten up. As it is we earned 1,33% interest in excess of 8% paid on our Debentures, in addition to 146,825 commissions. From the above it will be seen that our 8% Debentures are secured by first mortgages on 56.4% of value and backed up with ¥5,000,000 capital.
{
The natural laws of economics require an investor to secure the best return especially upon savings--trust funds-consistent with safety.
The China Realty Company is one of the oldest (established more than 20 years) real estate companies in Shanghai with a steady, successful record back of it.
Capital $5,000,000 fully paid in cash,
Business turnover 1931, 45,632,300 in land and mortgages only, which does not include management of estates, rent collections, insur- ance written, trustees for beneficial owners of property and sundry sources of income.
The Company are Realtors, not speculators in Real Estates. The balance sheets as of December 31, 1931 shows:
Assets
Lands and Buildings at cost
Cash
Mortgages on Real Estates held by Company Dec. 31.
1931
Total Debenture issue Dec. 31, 1931
12,341,726.31
3,351,055.84
1,844,259.11
¥5,971,200
4,840,700
by which it will be noted that all of the proceeds from Debentures are
invested in Mortgages and 31,131,500 of the Company's capitol,
In the past twenty years the Company has negotiated more than one hundred million Taels in mortgages, all of which has been repaid, principal with interest.
CHINA REALTY, CO.
"The Real Estate Market Place of Shanghai.”
70, SZECHUEN ROAD
DOUBLE ENDOWMENTS
$725 a year will produce $10,000 at death or $20,000 at the end of 20 years if, you survive. NO MEDICAL EXAMINATION. Other terms on application to
CHINA
UNDERWRITERS,
LTD.
LIFE ASSURANCE DEPARTMENT.
Telephone 28121. Hongkong Bank Building.
SHANGHAI.
YOU WANT TO GET RUGS A BEAUTIFUL PLEASE GO TO VISIT PEKING ART RUG CO. THEY HAVE A LARGER SELECTION. CHARGED AT WHOLE-SALE PRICE.
32, Nathan Road, Kowloon.