THE HONGKONG TELEGRAPH. THURSDAY, DECEMBER 22, 1932.
THREE GREAT HOSIERY OFFERS
IDEAL FOR Christmas GIFTS:
HOLEPROOF
IN ALL SHADES
and Sizes
RAPID
BBB HOSIERY
SERVICE
HEAVY QUALITY SERVICE WEIGHT
X'MAS OFFER
HOZEPROCE
$3.75
PER
PAIR
LOSTERS
POPULAR CHIFFON QUALITY Absolutely New Stocks
25 DIFFERENT SHADES
AND IN ALL SIZES
X'MAS OFFER
S.
$4.75
HOLEPROOF HOSIERY
THE "ARISTOCRAT" OF SILK STOCKINGS
SPECIAL CHRISTMAS OFFER $5.25
BOMBAY
SILK STORE
2, D'AGUILAR ST.
AND
KASHMIR
SILK STORE OPPOSITE QUEEN'S THEATRE
THE CHINA' COAST.
*RECENT TRANSFERS, AND APPOINTMENTS
Mr. W... Kermode, sup'y chief officer, Cheklang, as gune chief ollicer, Fatshan.
Mr. D. Boyd, second officer, Cheklang, is on reserve,
Mr. W. 1, Kirkland, sup'y second officer, Fatshan, has gone second oilicer, Cheking.
Capi. C. D. L. Stringer, of the Kwangchow, has goro comniand, Antung.
Cipt. R. II. G. Ashby, of the Antung, is on reserve,
Capt. G. R. Torrible, sup'y master, Wantung, has gone command, Shaai.
Capt. P. F. M. de Freitas, of the Khasi, has gone command, Wantung.
"Capt. 1. Evpns, of the Wantung, has gone commaand, Kintang.
rapt. C. dalieson, acting master, Kintang ng gone chict offeer, Wantuny
Mr. J. J. Spring, sup'y serond offer Chengtu, hun gone acting chief leer. Kanchow.
Capt. 1. V. Rowe, of the Hanyang, has gone command, Chengtu.
Capt. W. J. King, of the Chengtu, has gone command, Hanyang.
Mr. D. Keating, sup'y secrind officer, Shrughing, has gone necond officer, Huichow.
Mr. J. W. A, Whitney, sup'y second officer,
Wanhsien, has gone second ollier Anhui
Mr. T. Norman, recond officer, Anhui, has gone suply second silleer, Wanhsien.
Mr. D. Smith, sup'y second offers, Wanhien, has gone second officer. Softly.
Mr. P. Swan, seennd officer, Son, chaw, has gone sup'y second officer, Wansion.
Mr. J. A. II. Pontin, chief Hanyani, has gone chief Wallu,
officer,
officer.
Mr. A. G. Parker, chief officer. Waluu bs Home chief officer, Hangs
King-
Mr. P. Bolam, chief officer, Son- chow, has gone chief officer, ywun.
Mr. . . Gamble, chief alficer. Klipyann, has gone chief ollicer,
Mr. J.
1. Grant, suply accund elliet,
Liann, has gone suply second officer, Wanjung.
3. B. J. E. Cox, simply second Shongking. has stone sup'y alberr, Winhsien,
Mr. L. Steel, sup'y third engineer ofleer, Kiangsu, in on reserve,
un
Mr. J. Young, sup'y third engineer officer, Kiangsu, reserve.
Mr. . . Willamson, sup'y third engineer officer, Kiangsu, is оп
reserve.
Mr. A. B. Brown, sup'y accond engineer ollicer. Kinngan, ія ON
reserve.
Mr. M. Scott, second engineer uffer, Kanelow, is on short leave.
Mr. E. Woods, third engineer ofßeer, Kanchow, has gone acting
chief engineer oflicer. Le some ship, Mr. W. C. Somerville, supty third engineer officer, Wanhaien, has gone third engineer, ofleer, Konchow.
Mr. R. Bain, suply second engineer ofrer, Wanhsien, is on home leave.
IDEAL FOR STUDENTS
SINCERE S" FOUNTAIN PENS
18K gold nib, gold clip and band. Attractively coloured barrel. A British make.
SPECIAL PRICE
$5 Each.
VISIT "SWEET" HOME At Grocery Dept. Christmas is not Christmas without candy. So before you go any farther down your gift lift, visit our "Sweet Home and feel re- lieved, for candy is one of the finest gifts and stock only the finest.
SANTA'S SUGGESTIONS
for
CHRISTMAS GIFTS
AT
SINCERE'S
A GIFT OF WORLD'S ENTERTAINMENT,
A twist of the dial and you enjoy the finest Christmas radio fea- fure-a new world at your finger- tips! Every member of the family will get a full measure of cnjoy- ment from this gift-particularly if it is an
ATWATER KENT RADIO Special Christmas Offer: Model 90 7-tube Compact $160 Model 92 B-tube Compact $180 , Including Acrial & Installation.
GIVE SILVERWARE FOR BEAUTY
& UTILITY. Beautiful table-ware and toilet sets in silver make gifts en- thusiastically received. We have the, exquisite Chinese and foreign made silverware ranging from a few to hundreds of dollars.
Special Rates for Engraving.
FOR SMOKERS
LA PRUEBA CIGARS
The Real "Manila'
Also other celebrated brands
IN CHRISTMAS
PACKINGS.
LONDRE
120
AT SPECIAL PRICES.
BRING KIDDIES TO SEE SANTA AT
THE SINCERE CO., LTD.
the
Mr. G. Boyle, from shurt Trave, sible by an agreement reached at has gone third officer, Tingsung, Cardit by the owners and
Me, W. T. Bould, from reserve, has leader of the Miners' Federation. gono chief engineer öfleer. Chipshing. Mr. Evan Williams, President of Mr. A. McAlpine, chief engineer the Mining Association, stated that olleer, Chipshing. is on reserve.--- The Shipping Review.
PEACE IN MINES.
although the owners were entitled to apply under the agreement for review of wages, they had decided not to do so in order that no un casiness should be created or even
The Conciliation Board agree- ment in South Wales cannot poy- sibly end until February 1934, and it will not end then unless one sido decides to terminate it-British
AGREEMENT BETWEEN MEN indicated.
AND OWNERS
London, Dec. 21. The prospect of a long period of peace and stability of wages in the South Wales coal trade is made pos- Wircices.
SANTA'S HEADQUARTERS.
SZEJ C.O
N
11
S.S
SH !
SPEAK EASILY
with
face
noso oo-la-la!
N
KEATON'S
DURANTE'S
THELMA'S
COMING SHORTLY to be followed by
"GRAND HOTEL”
ASAHI ᏴᎬᏞᎡ
Bole Agents
MITSUI USSAN
POSENER BEER KAISHA
GRAND PRIZIS
Best Ex
MAPACIFIC C
LID.
HONGKONG
ASAMI BEER
DAI NIPPON BREWERY
ASAHI LAGER BEER
SPECIALLY ENEWID
ron
EXPORT.
LIMITED
COMPANY
BESE
Y
The following extracts are taken from the Chairman's statement at the last annual Shareholders' Mooting. 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 camed on their money over and above current rates of interest. As our balance sheets show quite plainly, the. proceeds from the sale of our deben- tures 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 constituto 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 after caroful consideration of actual facts and figures you aro receiving loss than 8 per cent, upon. your investment and or savings you aro not using judgment but following -old customs, believing 5 per cent. and ́é por cont, aro current ratos,?"
CHINA
REALTY. COMPANY 8% DEBEN TURES 8% INTEREST VS 6% INTEREST
MEANS ONE THIRD MORE INCOME
COMPARISON
Mortgage Department, 1930-1931
% Average
Market
Year
Amount
1930 10,052,040 1931 19,194.867
Value of Property $18,662,000 34,075,565
Valuc
Interest loaned
rate 54% 9.18% 56% 9.33%
Average Commission
% 1.215% 0,765 %
Excess
.
Amount
· Interest Commission Over 8%
Earned 118,614 ¥122,316 255,291 146,825
*373,905 $269,141
373,905
Earned obe 'o 8% paid to Debenture holders- #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 duo 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 soon that our 8% Debentures are secured by first mortgages on 56.4% of value and backed up with ¥5,000,000 capital.
CHINA REALTY CO.
"The Real Estate Market Place of Shanghai."
70. SZECHUEN ROAD SHANGHAI.
The natural laws of economics require an investor to secure the best return especially upon savings-trust funds-consistent with safety.
The China Real Company is one of the oldest lestablished more than 20 in years). real estate companies Shanghai with a steady successful record back of it.
Capital 5,000,000 fully paid in cash.
Business turnover 1931, 345,632.- 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 balanco shoot os of.December 31, 1931 shows:- Assots
Land and Buildings at
cost
Cash
$12,341,726.31
3,351,055.84 1,844.259.11
Mortgages on Real Estate
held by
Total Debenture Issua
Dec. 31, 1931.
35,971,200
4,840,700 by which it will be noted that all of the proceeds from Debentures are Invested in Mortgages and 1,131,500 of the Company's capital.
In the past twenty years the Com pany, has negotiated more than one hundred million Tools in mortgages, all of which has bean repald, principal, with interest,,