THE HONGKONG TELEGRAPH.
TUESDAY, FEBRUARY 20, 1934.
DAIRY
FARM'S
BIG
EXTENSION SCHEMES Whiteaways
GOOD YEAR 304,031.60 1p those word report, and accounts as presented. be called to deal with this matter during the last two years share-
REPORTED
INCREASE AUTHORISED IN DIRECTORS' FEES
I hope appro- Mr. Frank Austin:--Mr. Chair-inimediately after the annual meet-holders have themselves
man, I should like to know whating, has happened to the suggestion
at the annual meeting voted an increase priations meat with your approval.
Messrs. J. I. Warren and W. G. for the particular year's work. In view of the excellent showing
annual re-elected to the Furthermore, at the last I trust you will approve a bonus of of two years that the native vil- Goggin were 15% to the staff.
Inge near the bottling house might Board of Directors on the proposal meeting shareholders unanimously When addressing you a year ago be cleared away. There are a lot of Mr. F. Austin, seconded by Mr. requested this matter be dealt with by an alteration in our Articles so Messrs, Percy Smith, Seth & that the Directors of the Company my predecessor in the chair refer- of mosquitoes present along there.. W. Page red to the increased Ice tankage would like to know what the and storage accommodation at our Directors have been doing about Fleming were re-appointed Audi should receive a larger fixed re- tors at a remuneration of $2,000, muneration. I may say that no East Point works. These works this.
on the proposal of Mr. B. W. Brad-change in the fixed remuneration wore completed in April last, and The Chairman:-We
AA
have pury, seconded by Mr. D. L. Me-of Directors has been made since are giving entire satisfaction.
1018. In the meantime. the nu- a result of the increased accomproached the Government on one Whitter.
meet or two occasions to have the vil
This concluded the business of thorized capital of the Company has A LARGER HERD modation we were able to
without any difficulty the domandage removed, but they don't acem the annual general meeting, the bean increased from $856,000 to It was announced at the annual for lee throughout the season. De rentable a harp us at the pro Chairman announcing that dividend $2,250,000. In view of this and general meeting of the Dairy spite the increased number of menent time. I think we may bring warrants were ready and, could be bearing in mind the fact that the Farm Ice and Cold Storage Co, chanient refrigerators on the mar the question up again before them. hand on application to the Com- Company has been able to maintain
remove pany's Offices. Ltd., this morning, that two chill-ket the demand for household ice think it is difficult to ing stores are to be added to the has been well maintained with the these villagers, as once they have ice cooling been able to get a footing it is Company's East Point installa-development of the.
There were no other questions, tion, which would bring the total system for theatres and other very hard to do so. cold storage capacity there up institutions it is essential that we to 500,000 cubic feet. This would keep abreast of the times; I nasure and the report and accounts were make it the biggest and best cold you that your Directors and execu-adopted unanimously, storage installation in the Fortive fully realize this. East.
Increased demand for the Com-
NEW STORES,
OTHER BUSINESS.
vened.
·
COR*
Its dividend and bonus to share- DIRECTORS' FEES.
holders, I hope you will support Immediately after the business the prosposal. I now beg to pro- read by the Secretary be adopted. of the annual general meeting, a Puse that the special resolution Mr. N. V. A. Croucher seconded, special general meeting was
The Chairman said:-I will now and the Resolution was carpled un- Ask the Secretary to rend the animously,
The Chairman-Thank you for notice convening the extraordinary general meeting called for the pur-this, gentlemen, and thank you for pose of considering and if thought your attendance at this meeting. it, passing with or without modi-
RETURNS TO PORT. fication the Special Resolution in
Mr. N. V. A. Croucher:-1 bex propose. IM Was the case pany's products was also reported, The demand for cold storage ta
for last year, that the sum of $3.000 and it was further stated that 77
accommodation, capecially
fruits, he paid to the Directors by way of more cow are on order, of which
as commodities nuch 10 would be of Jersey breed.
I am glad to Company's Articles of 'Association. There were present Mr. T. vegetables and eggs continues to additional fees for the year ending connexion with Article 91 of the The Secretary read the notice of convening the extraordinary alter the Company's Articles Pearce (Chairman); Messra, J. Pincrease, with the result that itDecember 31st Inst. Warren and R. Gordon (Dirce-hr been considered advisable to know that it has been proposed to
These Association in order to
increase general meeting together with the tars): Mr. A. Stevenson (Man-add two chilling stores ager); Mr. J. D. Thomson (Seere-East Point installation.
to our
LAST OF FOUR MISSING DAIREN TRAWLERS
Dairen, Feb. 19.
tary); and the following share. stores, representing, the last word he fixed remuneration of Directors following resolution:-"That the which was one of the four Japanese- holders: Meaars. F. Austin: N. V. In cold storage design, should beflo $10,000, as against $7,000 which 1 Articles of Association of the Cum! trawlers reported
incurred in this connection will be fully justified,
Mr. J. D. Danby seconded, and the notion was carried unanimous
A. Croucher, J. D. Danby, W. Mae completed within two months' bus applied during the farlane, H. G. Watson, W. S. Bai-Line. I am sure the expenditure years. ley, D. L. McWhirter. I, W. Page. B. W. Bradbury, Lo Kal-wing, Chan Nai-pan and Mrs. Yeung Yuen-shi. CHAIRMAN'S SPEECH.
of
The missing trawler Daibo Muru, have been cap- past 15pany be altered by deleting the tured, by pirates of the Shantung to figures $7,000 In the third line of const on February 8, returned Article No. 91 of the Company's Dairen to-day, none the worse for her Daibo Articles of Association and sub- experiences.
The crew stated that the stituting in place thereof the
Marg had been searching the waters figures $10,000."
off the Shantung const for the three The Chairman:-Your Directors other trawlers, not knowing that feel justified in bringing forward they had already returned to port. this request for additional fees as-euter.
I may interest you to know thaily.
The Chairman:-Thank you very com- when the new stores pleted the total storage capacity much. The Directors much ap our East Point installation preciate this, and as Mr. Croucher will amount to 500,000 cubic feet. has said, a special resolution will
have it. on good authority that we have by far the biggest and best cold storage installation in the Far East.
Reverting to the cold storage installation at 38. Connaught Road Central, after negotiations of a somewhat protracted nature the purchase of this concern was It completed in. September last. seemed to your Directors desirable to have an installation in the cen
The Secretary having read the notice convening the meeting. the Chairman sud:-Gentlemen,The ruport and accounts having been in your hands for the prescribed period I will, with your permission, take them as read. I think you will agree that the balance sheet before you to-day is commendable and reflects highly on all concern d with the Company. A bright feature of our year's trading has been the increased demand milk and other dairy produce in- cluding ice cream, indicating quite a part of the city to cope with
others for learly that our Chinese friends the business offered by market are realizing more and more, the dealers value of dairy products in their period storage. I am pleased to dietary, and I would any that it is say the purchase has proved satis- this condition more than any other factory and as the installation is to the which is reflected in our accounts capable of expansion it should
prove a valuably nutjunct to-day.
Had our export and shipping Company's business,
for
and
short
The new branch in the St. business come up to the figures ofrancis building has fully justi last year, the results might have been even better than those dis.fed itself, proving as it has done a boon to many of our customers
favourably.
fore you to-day.
CATTLE AND PIGS. Cattle-If you refer
closed in the accounts placed be many of whom have reported most
The policy of your Directors has been reasonably optimistic and several progressive steps to which reference will be made later, have boen taken during the year. item under the heading assets you hope you approve this policy, and will note the sum of $143.613.85 This sum re- that when the next annual meeting has been added. takes place, the results will be represents the coat of 74 imported! flected in the accounts.
If you will refer to the Profit & Loss Account you will find that the balance transferred from work- ing Account amounts to $807.587 41, which is $52,000 more than was shown in last year's accounts.
NO DEPRECIATION.
to this
I
cows-plus-the-value of our own. red heifers transferred to the adult herd during the year. have much pleasure in reporting to you that the health of our herd, numbering on the 31st December last 1,052 animals, was excellent' throughout the year and that the milk yield as well maintained.
I venture to say that so long as You may have noticed that under the heading Depreciation, Bulld- our milk maintains its high stand- ings & Property Account, the sum ard of quality and is placed on the set aside this year is lighter than, market under the present system it has been since 1930. The posi-n hygiente precautions and care tion here is that one of the Com- ful supervision, it will continue to pany's principal properties How enjoy its deserved, popularity. To stands at a very favourable figure meet the ever-increasing demand in the books and it is not consider- shareholders will be interested to ed necessary to depreciate it fur- know that orders have been placed ther. Your fee plant, machinery for the importation of 77 more and other fixed assets have been cows, 40 of which will be of the depreciated on the same sealo as Jersey breed. These are due to in the past and although a smaller arrive within the next two months. sum has been spent on repairs and Pigs. This herd has also en- renewals this year than last, I jored excellent health conditions would assure you that all our and numbers 1,072 head. A good buildings, plants etc., are being demand exists for our farm-fed kept in the usual high state of re-pork is it is considered to be pair and efficiency.
semewhat of a delleney in these parts.
You will observe that the sum of i
Our farm still continues to be X10.000 na been placed to credit; of Bart & Doubtful Deht- Roseyun
yource of much interest to re- Unfortunately the writings offsidents and visitors to the Colony this year have been heavier than from whom we have many very for some time, with the result that antifactory reports. There have the balance of the old reserves has been few extensions to farm build- been fully utilized.
ings during the year, only one new I propose to deal with only one rowshed and an extension to our more item in the accounts, ie, the ve cream factory having been issue on the 15th September last erected. The demand for our fee of 1.430 fulls paid up shares, cream throughout last season has These shares, I may say, form part proved the necessity for a further of the payment to the Hongkong extension which is now in hand. Cold Storage Co. Ltd., for the pur-
I do not think there is anything chase of their plant together with further to add so with these re- the transfer of the lease of the marks I beg to propose the adoj- premises at 38 Connaught Rond tion of the report and accounts, Contral. Some of you may have and after they have been seconded noted that our name now appears I shall be pleased to answer over these premises. The issue of
any questions shareholders may these shares represents part pay-wish to ask. ment only, as in addition the sum to the of $60,000,00 was paid vendors. I shall refer later to this purchase.
YEAR'S PROFITS,
1
OTHER POINTS.
Mr. W. S. Balloy:-Gentlemen, the very able speech by the Chair: man has left very little to be said. The not profit for the year in-I think we may congratulate our- cluding the aim of 862 651.40 solves on the excellent manage- brought forward from last year's ment of our concern as shown by accounts amounts to $579,984.18. It the report before us and the state": is proposed to deal with this sum ment of our Chairman. I think in the following manner: Pay a the conduct of the business and dividend of $1.50 per share on 251, the position of the Company to- 489 shares. $377,45; pay a bonus day reflect the highest credit on ~of 9} egnie · man chara nu fi on the management, staff, and Direc shares, 802.857.50; add to Catilo tore. With these few remarks, I Reserve, $60,000; add-to-Goneral beg to second the adoption of the
COMMENCING
FRIDAY
FEB, 23rd.
GVLENS
HENRY BELLIT
will present
COMMENCING
FRIDAY
THE ALL-AMERICAN REVUE
FEB. 23rd.
"HELLO HONGKONG"
Direct from New York City.
with
EDDIE CONRAD Star of Ziegfield Follies MORAN & WISER
International Comedians
DALE & SIEGRIST
America's Premier MusicalTM Comedy Artists VERA AMAZAR of Greenwich Village Follies ROBERT RHODES
of Earl Carrol® Vanities.
KATHRYN APGAR the Original Fan Dancer
Orchestra Stalls Middle Stalls Back Stalls
and
GIRLS!
GIRLS!!
PRICES
$4.40
Dress Circle
$3.30
$3.30
$2.20
Gallery
$1.10
BASIC VALUES
IN
BEDS AND BEDDING.
WHITEAWAYS NEW
B. V. R. 3.
BASIC VALUE
A Smart 3 Part Bodstead.
Oxydised silver frame. Dia-
mond spring mattress.
6 ft. by 3 ft.
BASIC VALUE PRICE:
$35.00.
WHITEAWAYS NEW
BASIC VALUES
Size
B. V. H. 16. Hemstitched Cotton
B. V. R. 2. 3. Part from Bodstoad.. A strong and well made Bed, Birmingham make. Size 61⁄2 by 3 ft.
BASIC VALUE PRICE:
$15.00.
ONE+
WHITEAWAYS
NEW BASIC
VALUE!
B. V. R. 1.
A Strong English Made Child's Cot.
With drop side. Spring mattress. Size 42 by 21⁄2 ft. Mosquito Poles
extra.
BASIC VALUE PRICE: $23.50.
One of WHITEAWAYS NEW BASIC VALUES
Bod Sheets.
Best Manchester make. by 90 inches.
Size 70
BASIC VALUE PRICE:
$8.50 pair
ONE of WHITEAWAYS
BASIC VALUES
BED SPREADS. Made from good quality "Jaspc." With pretty printed and embroidered design in Rose, Blue. Orange and Green. Fast colour. Size 80 by 60 inches.
BASIC VALUE PRICE: $2.75.
COTTON BLANKETS. Blankets or Undersheets beautifully soft and light in weight, pure white with coloured striped Borders in Pink or Blue, very suitable for the damp weather to keep away chill," will- wash and keep soft always. 75 by 54 Inches.
BASIC VALUE PRICE: $4.50 each.
ONE/WHITEAWAYS. NEW BASICVALUES
Size
ONE WHITEAWAYS NEW BASIC VALUES
B. V. H. 15.
In Bleached Cotton Bed Sheets. Best English make. Size 70 by
90 Inches.
B. V. H. 18. Hamstitched Pillow Cases.
BASIC VALUE PRICE:
Fine quality English longcloth. Fully bleached. Neatly hem- stitched border. Size 20 by 30.
BASIC VALUE PRICE, $1.50 each.
WHITEAWAYS
NEW VALUES
BASIC
B. V. H. 1.
$8.50 pair.
One of WHITEAWAYS
NEW
B. V. H. 17.
Good Serviceable Plain Pillow Casos.
BASIC VALUES
Buttoned ends. Good long cloth, Size 20 by 30 Inches.
Colours: Creen, Mauve and Red. Thick, absorbent, and fast colour. Size 20 by 32 inches:
BASIC VALUE PRICE: $1.25 each.
ONE
VALUES
WHITEAWAYS
WAYS (NEKOBASIC
PATH MAT,
in
centre:
BASIC VALUE PRICE: Heavy Reversiblo Turkish Bath Mats. "Bath" Typod.
$1.50 each.
FIRST FLOOR SHOWROOMS./.
WHITEAWAY LAIDLAW & Co., Ltd.
HONGKONG.