ECOND FERRY
LAUNCHED
OTHER VESSEL FOR
HICULAR SERVICE
Mr. Hallifax' Address,
THE HONGKONG TELEGRAPH. THURSDAY, DECEMBER 8, 1932.
practically free--and at the same very fine with openings for ships The Hon. Mr. E. R. Hallifax, ting a strangle hold on all plers seemed to forget that a ship ad- time they nearly succeeded in get-and all the rest of it, but which { in_replying, said:
which could be used for competi-rift in a typhoon might prefer to My wife has a number of cxtion with them. It was a very make its own opening. (Laught- cellent reasons for appreciating mail Incident-a refusal to in-er). And I remember too that the the privilege of launching the ship crease a charitable subscription cost of the tunnel was estimated at we have just soon take the water which led to a close enquiry into something more than a whole year's o successfully; not the least per the whole position. This enquiry revenue of the Colony at the pre- haps being that she will bear no catablished the need for regula sont Rate. In other case, tunnel thin a fornight of the launch more from me about the possibility tion, and I was going to say "at or bridge I cannot Imaging that
the first, the Man Kim, Vehicles Forry System, with id of the trio of vehicular which as long as nothing continu- work afke that shall we say, "be-have been other than to make the once" but a Government does not the aim of the Government would es built to the order of the ed to materiallac, she must I for fore very long," the first exclusive connecting link as little of an ob 3kong and Yaumati Ferry Co., have been horribly bored. Now Yaumatl Ferry was established. struction as possible, and to get
took her initial plunge from can stand up to her again and Bay Beyond paying slipways of the Hongkong and Thore you aro" and "I told you well, it also paid the Government velopment. After
the promoters their return out of general de- impoa Dock Company, Ltd," without any fear of contradic-which builds and maintains the Road itself coat a lot to build and all, Queen's erday. The christening cere lon. (Laughter). ly was performed by Mrs. E. R.
Perhaps you will let me detain income which has been progres-charges, but it continues to pay plore some $10,000 a month, anroquires heavy malatononco fax, wife of the Secretary for you a few minutes with some de-sively increased at each reletting the Colony without turn-piko or nese Affairs, who was welcom tails of the development of their of the monopoly, and that without toll gate. by Mr. J. P. Warren. Conclud- Forry. About 25 years ago there any increase of the Ferry Fares.
only. The Vehicles Forry bida fair
or a
a short address, Mr. Warren was only one organised Ferry in The Fares still stand as low as 2
Improved Ferries have already d:-
the Colony-the Star Forry; all conte a ticket and will I hope and had no small share in the deve Kre. Hallifax, kindly allow me the rest of the Ferry work, and believe some day be found to be a lopment of Kowloon, but BO far repeat our sincere thanks for there was plenty of it, was casual true commercial proposition at they have been passenger forries ur presence here this afternoon and irregular and unregulated.aven one cent. This may sound jd for the service you have After one of our big typhoons a little startling, but I think, our to simplify and cheapon the trans indered to the owners and jayndicate of farsighted mon history provides justification.
fer of cortain classes of goods also, allders of the Man Kim, and as bought up chenp a number of
and we approximate more and more memonto of the happy occasion, launches that wore the worse for In those same days of a quarter to the ideal of a bridge would ask you to accept this wear, and concentrated on the of a century ago the need to the tunnel which should be free. In light token of our esteem and re-project; with immediato succean Colony as whole of closer con- its nature, however, a ferry can ard and gratitude for your kind-inancially. The syndicate attrac-oxion between the Island and the hardly reach that ideal but the y assistanco.
od little attention while they were Mainland was ady apparent, easier and the cheaper it is made Ladies and Gentlemen, give gathering strength, and then al- and schemes fobridges over to cross the Harbour the better ou the toast "Success to the Man nost suddenly it was found that the Harbour and tunnels under it for the Colony generally, and I see Kim coupled with the name
of hoy could freeze out any com- were seriously worked out and no reason why the object in mind Mrs. Hallifax the gracious etition-there was n period I be-considered. I remember a ple- should not always be to approxi sponsor." (Applause).
leve when they were running ture of the bridge which looked;
(Continued on Page 12.)
CHINA
REALTY COMPANY 8% DEBENTURES 8% INTEREST VS 6% INTEREST.
MEANS ONE THIRD MORE INCOME
The following extracts are taken from the Chairman's statement at the last annual Shareholders' Meeting, February 29th, 1932.
"We feel that the Debenture holder from an investment standpoint, is just as much an interested partner of the Company as the Common Shareholder and is entitled to his just return on his investment, and by the figures given on the two years' working, I think we 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 interest. 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. Involved shows that every debenture has behind it assets equal to three times its value."
An analysis to the figures
"If after careful considoration of actual facts and figures you are receiving less than 8 par cont. upon your investment and or savings, you are not using judgment but following old customs, believing 5 por cent, and 6 per cont, are current rates,"
'S. sh! Three
Castles' for Christmas!”.
"Thore Castles"
Cigarettes
THREE CASTLES
CIGARETTES
FAMOUS FOR FIFTY YEARS
WHY BE
COLD?
COMPARISON
Mortgage Department, 1930-1931
Market
Year
1930 1931
Amount
Value of Property 10,052,040 $18,662,000 19,194.867 34,075,565
% Average Value Interest loaned rate 54% 9.18% 56% 9.33%
Average Commission 0%
Excess Interest
Amount Commission
1,215% 0.765%
over 8% 3118,614 255,291
Earned
122,316
146,825
€373,905
€269,141
373,905
།
Earned above 8% paid to Dobantura holders 3643,046
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 retum especially upon savings— trust funds-consistent with safety.
The China Realty Company is one of the oldest festablished more than 20 years) real estate com- panies in Shanghai with a steady, successful record back of It.
Capital 35,000,000 fully paid in cash,
Business turnover 1931, $45,632,300 in land and mortgages only, which does not include management of estates, rent collections, insurance written, trustees for beneficial owners of property and sundry sources of Income.
The Company are Realtors, not speculators in Real Estates.
The balance shoots as of December 31, 1931 shows:
Assets
Lands and Buildings at cost
Cash
{
12,341,726.31 3,351,055.84 1,844,259,11
4,840,700
Mortgages on Real Estates held by Company Dec. 31, 1931 .. 5,971,200 Total Debenturo issue Dec. 31, 1931
by which it will be noted that all of the proceeds from Debentures are invested in Mortgager and T1,131,500 of the Company capital.
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
......SHANGHAI.
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Chater Rd.
HONG KONG.
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