THE
HONGKONG. TELEGRAPH WEDNESDAY,
MARCH 11, 1936,
NEW BILL SUPPORTS SILVER
MOVED TO REPLACE
WHEELER PLAN
FAMOUS ADMIRAL
PASSES
(Continued from Rage 1.)
the four newest battleships, engaged Ilipper's five battle-cruisers, but Die German ships escaped fatal damage
from the heavier British fire. When Beatty Lurnet to lure Hipper's. vesselr towards the Grand Fleet, lomnaked the fire of his own battleships and exposed his cruisers to the high-angle fire of the Germans. The Queen Mary and Indefatigable Elizabeth cines inflicted much damage an their opponents, the Lalzow and Pommern being sunk and the Konig, Seydlitz and Derfflinger disabled Beatty then moved into line with the Grand Fleet, in which process Admiral
BIG MONTHLY wero sunk, but Inter the Queen
PURCHASES ?
(Special To "Telegraph")
Washington, March 10. The Senate Agriculture Committes to-day made a belated report on tho Bill providing for the purchase of 1,000,000 ounces of silver monthly until the stock constitutes one-fourth of the monetary stocks or it is worth $2.10 per ounce.
Hood's halfte-cruiser ́Invincible was aunk.
PLUCKY FIGHT
H.K. ELECTRIC CO. MEETING
EXCELLENT POSITION
REPORTED
BONUS ISSUE APPROVED
In the face of the despondent re- is sued by many local business.
HITLER DEFENDS HIS PROPOSALS
(Contiuned from Page 1)
E RADIO BROADCAST
The Z.B.W. Dance Orchestra
STUDIO RECITAL
From Z.B.W. on a wavelength of 365 metres (845 kilocycles):
4-7 p.m. Chinese Programme. 6-6.30 p.m. Children's Studio Con-
7-7.17 p.m. "Petit Bulte de Concert"
7.17-7.30 p.m.. Four Songs by. Peter Dawson (Bass-Baritons).
Hitler added. Dut ha did not bellove. they would ever have renched the conference table. British and French statesmen who found their country in ao tragle a condition as he found his would certainly have acted in the same way. The German proposais, he concluded, would render a great service to Europe and the cause of peace if they were accepted-Reuter, WORLD MUST ACCEPT
Berlin, Mar, 10. at the present time, the speech.
The world must hecept the of Mr. M. T. Jolinson, Chairman of
was no cert the Hongkong Electric Company, Ltd., Fuchrer's proposals; there wax in happy contrust at the 47th other solution; they were the only ordinary yearly meeting held at the proposals which could restart national (No, 1) (Coleridge-Taylor). P. & G. BallAng thia
economic recovery in Europe, declar The nett prohit, after prevuling for ed Herr Paul Goebbels, Minister for deprecint.an, amounted to $1,838,642-Fropaganda, in a broadcast speech at 87 and, with $156,008.12 brought for the opening of the election campaign ward from last year, totalled $1,- to-night. 994,461.29 der appropriatlon. In addi tion to the interim dividend of one bridges with France. On the contrary dollar per share in September, the we neck peace more than ever,” ha Company declared a final dividend of
declared-Reuter. $1.50, and the cash bonus of fifty cants, thus maintaining st
Rame paid last year.
and
morning.
"We did not want to break
the
1. Star O'Robbie Bums (Booth); 2. The Auld loose (Nairne): 3. The Winding Road (Andrew); 4. The Man in the Street (Longstaffe).
7.30-8 p.m. From the Studio. A Violin and Pianoforte Recital by Jose Radesky and Mona Macican.
Programme
The Department of Agriculturs wrote the report last session of Con- Jellicoo hesitate to close with his divideng, drop of $74,000 in gros 1921 to 1930, paki a visit to the Moon gress but falled to present to the Senate until to-day.'
YEAR'S WORKING The Manager living read the notice convening the meeting, the Chair man said: Gentlemen, The report and statement of accounts for the year ended December 31, 1935, have been in your hands for the prescribed period and with your permission, I will take them as read,
by many of you as Monager from Colony recently in order to discuss with us various matters connected with the undertaking.
1. Waltz - Unrequited Love Lincke; 2. Song-Over the Rim of the ‚ Head; 3. Violin Solo- Meditation.... Massenet; 4. Old and New Melodies ....Herman Finck,
pm. Time and Weather Report, 8.03-8.30 p.m. Light Orchestral Music.
wwww
VitaJudex) (Gounod); A Life on Nalla Waltz (Delibes); Mors ot
the Ocean (Binding); Blue Rones Selection (Ellis); Folly to bo Wiso- Selection.
Vocal 8.30-9 p.m. Variety Items.
My Gal Sol. "Ida" Sweet na Applo
to Look At. When I grow too old to Cider. The Mills Brothers; Lovely Dream.... Irene Dunne (Soprano); Musical Comedy Requests ....
LA Allen and his Canadian Bachelors; If
The Gofman Admiral Scheer had been drawn into a net, but he turned Just in time and began to fight a plucky rearguard action, his escape being aided by a haze. Scheer relied un torpedo attacks, which made slower opponent, as he dared not on- danger the great force under his com- earnings, economies affected in work. This Bill la offered as a mistituto mand. Beatty, on the other hand, ing enabled the profit to be shown, for the Wheeler Bill providing for the wished to solze the chance presented At the present mate of exchange, the free coinage of silver at a ratio of 18 of destroying the German fleet and to charge per unit of the Company is
EXTENSION POSTPONED to 1 with gold, and when pixteen take any risks that might be involved. considerably less than that ruling in ounces of allver equals the purchasing Scheer escaped partly by skilful Lac-neighbouring Colonies and in most power of one ounce of gold, the parties and partly owing to the fact that towns of similar size in Great Britain, miun of the North Point plant which, We were able to postpone the exten- chase of silver could be suspended. no nowe of the movements of his ships The new B says that silver certi renched Jellicoo, though they were
you will remember, was mentioned ficates could be issued against the constantly encountered by British
at the last general meeting when we ballion in amounts equal to the cost vessels on the fringes of the fleet.
anticipated placing orders for now of the silver to the Treasury. The boldness of Beatty and the enu-
unachinery in 1935 or early 1936. We The report adds that attempts made tien of Jellicon each have their cham-
now think that this question can
be to put currency off a silver standard plans and the tactles of the Battle
inferred for at least a year, and in "particularly, the Chinn silver stand-of Jutland have been the subject of
consequence no ard, will fall, because the Nanking much controversy.
finance the sity for fresh capital to my bees. Government does not control moru
next extension of generating plant, than a few provinces and the Chinese In Dec. 1916, Beatty succeeded
It has always been the pokey of in the interior, as well as Indians in Jellicoe as commander-in-chief of the The nett profit after providing for the Company to sol aside annually the interior of their country, have no firand Fleet and received the surrand- depreciation is $1,8,8,542.87, and iveral faith in paper money.'"
in extensions of the Roll The Boswell Slaters; When- “Remonetisation of silver at 10 to 18. Raised to the peerage as Earl
order to give to share ever I think of you.... Leslia Hut with gold would double the world's Bently of the North Sea, he received Burn of $1,004,461.20 for appre holders return obviously due on chinson. primary money and stop the scramble the thanks of Parliament and a grant
ant priation.
On September 23 we paid such amounts we have in the past for gold.
af £100,000 and was awarded the an. Interim dividend of $1 capitalized a portion of the reserve "It is safe to say that neither our Order of Merit, G.C.B., etc. He was per share absorbing $100,000 and fund and have declared a bonus to own nor the British Government has also made Grand Admiral and First with the balance proposes-To pay be satisfied by the issue of new shares. definite financial plan, but are plan-Sen Lord, and attended the Washing final dividend of $1.50 per share, The last of such issue was made in ning their money policies upon a twenty-four hour day."-United Fresn. Beatty quitted office in Apr, 1927, hous of 50 cents per altare, absorbing that a further $1,500,000 of the tos Navy Disarmament Conference. absorbing $706,000; to pay a cash 1928 and the Board now recommend after n record term of 7 years. $226,000; to place to reserve, $400,- Reserve Fund should be capitalized
JOU; to carry forward to next Account, and one fed shares in the Com
paid new share for JUTLAND CONTROVERSY $244,451.20. Tho amount of the every three. old
dividend and bonus recommended is pany be issued no sury silver purchases has been in port on the Battle of Jutland, which will consider this satisfactory.
A Bill designed to stimulate Trend Admiral Harper's semi-offleinl re the same as last year and I hope you holders on the Register at the 291% Life Waltz (Strauss); Tales of troduced in the Senate by Senator criticised Beatty, was
February 1936. These new shares to Thomas, proposing the retirement of years during the latter's regime, less than inst year, due, of course, to shares ns from the 1st January
hell up for
gross earnings are $74,754.06 rank for dividend with existing
the all United States notes outstanding When the Admiralty decides to pub- the relictions made in the charge for The necessary extraordinary general and the issuance in exchange of an ifsh a revised version, Harper said it current which came into force in July meeting to carry the above into effect The silver purchased for this puras no longer his report and after he last, to which I will rofer later, but will be helt inmediately after the
retired-published a book pore would not be counted as part of subject, whereupon the Admiralty on ing and to the lower cost of coal, the
book on tho thanks to cont
economies
effected in work close of this meeting. the silver which the authorities puruse 1. 1927, Issued Harper's report profit on working shows a small in- chased under the Silver Purchase in its original form. Harper claimed creaso
that the first part of the battle was aside for depreciation a total of $715,- of 30,803.33. We have set .Senate Agricultural Committee ring divided his forces so that he could in
Simultaneously, the proposal by the German victory; thanks to Beatty hav-540, practically the same amount an quiring Treasury purchase of at least enly engage part of them. The result
1934. 60,000,000 ounces monthly until a was that instead of destroying the Point was 48,813,623 units, an
The output from our plant at North silver-gold ratio of 10 to 1, or silver Germun battle-cruiser squadron Atocka one-third of the gold stocks, Inst two battle-cruisers and two de
ho crease of 2,470,758 units or 0.35 per in reached, has been favourably re-stroyera, while Hipper with half the This increase is entirely due to larger cent on the previous year's working. ported by the Committee. This pro- number of ships lost only two de-sales of current for power. The fall posal is sponsored by Senator Wheeler, stroyers. The situation and it representa i revival of the worse by the non-receipt, owing to the
was made in lighting consumption, reported Try of silver.
er of the German Navy on Nov. 21. with $165,908.42 brought forward been expen to reserve which have I had a Million Dollars; Rock and
from Jast year ሜሮ have plant. In
the
THOMAS' PLAN
Washington. Mar. 10.
equal amount of allver certifientes.
Act.
The
Ju-
bonus to Share
A WARNING
1936.
tin.
9-9.10 p.m. Vocal Gems by the Light Opera Company,
1. New Moon (Römberg); 2. Fegry Ann (Rodgers).
9.15-9.30 p.m. Daventry News Bulle-
9.30-9.50 p.m. Concert Waltzes by Marck Weber and his Orches. tra.
Danube Waven (Ivanovici); Artist'a Autumn (Waldteufel); Dream Waltz (Millocker); Maidens (Komzak). Selection by Jack Buchanan and Elsdo 9.50-10 p.m. Mr. Whittington" Randolph with Carroll Gibbons and his Boy Friends.
of
Baden
10 p.m. Big Ben: 10-11 p.m. From the Studio, "The Z.B.W. Dance Orchestra."
11 p.m. Close Down.
earlier efforts to secure free coinage' «moke and distance, of Beatty's An my predvecksor last year, lins con- which has been maid for the last four shares held by shareholders on the
signal to the 5th Battle Squadron to Observers are of the opinion that alter its course. For this non-receipt the Administration is not inclined to Harper holds Beatly to blame. consider further silver legislation
lation. Hoer.
GERMANS IN U.S. ORGANISING
but
rears must not
the
best of my ability any questions you my desire to nak.
The Hon. Mr. Chau Tsun-in, in Chairman and Gentlemen,-1 con
gratulate you and your fellow Dires fans, and the Company's Agents, on
ป
sald:--At the ordinary yearly meet- ing which has just terminated I mentioned to you that the Directors
declaro a bonus to be satisfied by the proposed to capitalize a portion of the
Issue of one new share for every three Company's Reserve Fund, and to
Register as on the 29th February last."
You will see that the Directors fur- ther recommend that no fractional certificates, which are productive of endless difficulties, should be issued. entitled to but that where holders a fraction of a share the whole of
holders entitled to the share. Thin that slinie should be sold and the net
follows the same principle us proceeds divided amongst share
shares was made in 1928, and I hope meets with shareholders' approval.
nre
adopted when the last issue of bonus
THE RESOLUTION
MUST BE READY FOR Hu, Letcestershire, and The Priory|preciation in value was to be expect, and bonus, and that they will con- capitalize the sum of $1,500,000 being
CONSCRIPTION
Reigate.
Washington, March 10.
are
In announcing on the 19th February ant their intention to recommend 19 shareholders the issue of theso bonus shares the Board considered it advis able to include a warning, which now repent, that, while there is every
can be maintained on the increased prospect if conditions remain as they
capital, continuance of the cash bonus are today, that the present dividend
bo tinued but not, I am glad to say, in
expected. the same degree. There was an in- crease of 718 in the number of meters
I take this
of recording your Director ortunity
appreciation of the connected as compared with a services rendered by the Manager, this season, as specified in the opern-Addressing the Navy League in the total number
crease of 400 in 3034 and this brings Stuff and workmen. 1 now pro statement of tion of the silver programme. At the Ocl.. 1933, Beatty declared that Bri-
on circuit up to pose that the report and same time... the split amongst the tain's naval strength was insufficient
38,900.
accounts as
as presented for the year silverities appears to make impossi- to make her an attractivo ally will observe that the Reserve now shall be pleased to answer to the Turning to the balance sheet, you ended 1x December, 1036, be adopt ble sufficient pressure to force legis-low her to play her part na a world stands at $5,000,000 the increase of
ef und when this has been seconde Power or to guarantee free passage $500,000 representing the amount ap lo her ships.
propriated to Reserve for 1934. On the assets side, investments at cust In 1001 he had married a daughter has a cross, of sitt vi seconding the proposal said:-Mr. of Marshall Flold, senr., the Chicago department store millionaire. He had to further investments made during tive sons. In 1929 he bought Dingley the year. The anarket value of your Hall, Market Harlxrough. He al-nvestments at 31st December, 1935,
the result of the year's working, I now therefore propose the follow- rendy had three country seats, Gran- was less than the purchase price by ad feel that all Shardholders whiing resolutions: tully Castle, Perthshire; Brooksbythen gling in the Colony this debe sutlafted with the proposed dividend; $102.302.75, in view of conditions
(1) That It ia desirable to
Theke investments
all insider the proposed Issue of shares part of the undivided profits of the sound dividend earning concerns,
reasonable return on tho undivided Company standing to the credit of profits of previous year, I am grind the Reserve Fund, and accordingly CAPITAL EXPENDITURE to learn that the number of units sold that a bonus of $1,600,000 be declared in 1936 was greater than in 1934 and and that such bonus be applied on Cash at hand and on current ac- that the number of meters connected behalf of the persons who on the 29th sunt and fixed deposit was $1,577,- shows a further inercase. The reduc
duc day of February 1938 are the regis 087.74, an
increase of $249.916.18 of charges which came into force intered holders of the 450,000 Issued Ever last year. During the year we July last are, I feel certain, uppreply full of 100,000 shares of the Company éclat shares of the Company in payment in expended on capital account nearly by all Consumers of our supply seun,nee, the principal items being and should lend to a further demand of $10 each and that such 150,000
credited Es finat
fully with in-shares
paid bu 13 installed during
accordingly allotted to such 1933, the terest your report on though the fruit was marked equipment of a sub-station at the diture dur in defer the extension portion of one of such shares for
persons the year. That you
tho respectively in
Pro- Hongkong and Shanghai have been able to Bank building now buildings of plant contemplated last year is every three of the said 450,000 shares Sassoon Itand and- Second satisfactory. The Directors policy then held by such persons respective Street for future sub-stations, and u of keeping our machinery up to dately and that such shares shall rank for wall to onclose our new property on and in good order meets with whole dividend as from the lat day of Janu- M.L. 28 at North Point. There were hearted approval and I am sure that ary, 1936. a large number of smaller works in the question of extending the plant as
(2) That if, on such distribution connection with the extension of and when necessary can be left to
na aforesaid, any person would be
the Colony,
no doubt that all shareholders will Directors shall, in llou of issuing In July wa reduced the standard wish to join me in your appreciation fractional certificates, cause the whole charge for Eghting units from 16 to of the services rendered during the "hure to be allotted to a person or 15 cents and introduced an additional year by the Manager, staf and work-persons to be named by the Directors discount on power and heating nemen. I now beg, Sir, to second the and such share shall at such time as the Directors think fit, be sold and WE HAVE TO LIVE.
The forthcoming wedding is on-counts of over 1,000 units. The fall adaption of report and statement of FORTH WELL GOD'S PRAISE.-Robert nounced of Mr. William Campbell in revenue in a full year due to these accounts as presented. Browning.
Muir, butcher, of 112 Waterloo Road, reductions is calculated to be about The report and accounts Kerloon, and Misa Isobel Maclean, $220,000 and I trust Conrumers will adopted. of Vancouver, B. C.
appreciate this concession in price.
At the present rate of exchange our standard price for lighting is under
The Gerninn Government has order-
ed.all Germans in the United States ITALIAN LEMONS
to report to their consulates for re
gistration with a view to possible -conscription.
The Germans in America will not be immediately subjected to military | servick, but records will be kept for energency purposes.--Reyter,
ATTACKING EVEREST
Darjeeling, Mar. 10.
CONFISCATED
Bucharst, Mar. 10. Sunctions wero to-day applied
.
.
against Ave truckloads of lemons, al payments in respect of boiler for current I hour noted, i expen- ;
ported from Greece." It was found
to have come originally from Italy and was consequently confiscated,
ut
w
Mr. Hugh Rutledge, the leader of the British Everest Expedition, with
Oranges and lemons now flooding his main party, left here for Kalam-the fruit markets are suspected to pong to-day, which is 120 miles from have come from Italian sources, and the climbers' base.-Heuter Bulletin the Government is investigating | feeders and distributors throughout them with every confidence. I have entitled to a fraction of a share, the
Reuter Bulletin Service.
Service,
DAY BY DAY NEWS IN BRIEF
TO SET
Knocked down by taxi No. 144 in Chater load yesterday, Chan Chiu, 46, of 52 Tung Wong Fel Street, was removed to the Government Civil Hospital for treatment.
Chung Ha, aged 17 years, un- employed, pleaded guilty before Mr. Balfour at the Central Magistracy this morning to stealing ten cents from a compatriot in Gough Street and was sentenced to six wock's hard labour. Sub-Inspector Ai Kirby statod the defondant was arrested by a district watchman.
tiro
were
the net proceeds distributed amongst the persons entitled to such frac tions making up the share.
Hon. Mr. J. J. Paterson: I beg to second the resolutions before the meeting.
The resolutions were adopted.
THOSE PRESENT
Those present at the meeting were: Mr. M. T. Johnson (Chairman of Directors), supported by Sir Robert Ho Tung, xt, the Hon. Bir Shouson pro-Chow, Kt, Mr. T. E. Pearce, Mr.
Stanley H. Dowell, the Hon. Br. J. J. Paterson (Directors), Mr. V. Sorby (Manager); and Mr. G. G. N. Tinson (Solicitor),
OTHER BUSINESS. Struck by an earth truck while working of Shing Mun, Lau Wut. d. per unk. This is considerably pose that the appointment of Mr. M. Mr. Owen Hughes: Iber to pro- coolie, received injuries which noces less lian that ruling in neighbouring T. Johnson to fill the vacancy on the altated his removal to the Kowloon Colonies and in most towns of similar resignation of the Hon. Mr. C. G. S. Hospital. During blasting operations size in Great Britain.
Binckio, be confirmed. at Shing Mun, a labourer, Mu Kin- At the lant meeting my predecessor mely of Wu Leo Hop Village, was in-reported the acquisition of additional the resolution was adopted.
Mr. J. E. M. Barnes seconded and fured and was sent to the Shing Munland at North Point for storage and Hospital yesterday.
Mr. Loung Fat-tin: I beg to extension purposes. This land has a wharf alongside which we can berth that Sir Shouson Chow, and Mr. SH. Dodwell be re-elected as Summoned for falling to report the steamers. During the year 36 ships
Directors. intended marriage of a registered unloaded 30,500 tons of coal on to Capt. F. L. Brown seconded and the mul-tsal, Tai Yuk-ping, aged 19, a new property and this officted a
resolution was adopted. fine of $10 was imposed upon Tam conalterable saving in the
comb of Chi-kau, a school teacher, by Mfr. coal handling. Our Installations at that Mosers: Linstead and Davis bo Mr. A. Stevenson: I beg to propose On charges of soliciting for pro- Macfadyen at the Kowloon Magistra- North Point and in the various sub-re-elected as Auditors for 1930 at a stitution in the vicinity of Water cy this morning. A fine of $15 was stations have been maintained in Street, West Point district, three ordered in the case of Cho Sul-kwai, good order during the year and we widows, 14 So, aged 80, Leung Yee- married woman, who appeared in an have been free of industrial troubles mui, 34, and Chan Sse, 35, ware each swer to a summons in which it was and typhoons. ined $15 with the alternativa of two alleged that she falled to report the The question of keeping our plant wooks' hard labour by Mr. Balfour at | change of addrons
registered up-to-date has always the close con Central Magistracy this morning, mul-taal named Lam-Tal-ho, agod 17, afloration of your Directors and it Sub-Inspector B. Thorpe stated that Inspector H. W. Fraser, of the Becre-miny Interest you to learn, that at in one instance the woman took the tarlat for Ohinose Affairs, appeared their request Mr. Marsh, our Consult constable to a convicted 'brothel;'"' for the prosecution,
ing Engineer, who will be remembered
*
さら
remuneration of $2,500, -
resolution was adopted.
Shareholders were represented by Mr. Chan Shu-ming, Capt. F. L Lo Kal-wing, Wong Ping sun, B. Brown, GE, Messrs. Le Koon-kun, Wong Tape, the Hon. Chau Teun-nin, Mr. A. McKellar soconded and the | Frank Austin (representing A. J. Gürson Fahnestock. Alex. The mention was then clorod.
Fat Campbell, N. M. Currio, Leung An extraordinary, general meeting tin, J. Owen Hughes, C. G. S. Mackle, was held following the ordinary year- A. McKellar, Wong
A ly meeting..
Stevenson, J. E, M. Barnes, W. H. · called on the Manager to read the kwan, JM. Jack, G. V. Osmund and The Chairman (Mr.M. T. Johnson) Choy, Chau Seng-choo, Chu Kio notice convening the meeting and then Wong Hing-wong,
Mackintoshs
NEW CASHMERE
TIES
in spot, fancy and check designs
-$3.00
NEW CASHMERE
SCARVES
for riding and
sports, wear $7.50
All lesa 10% cual discount.
Mullard
THE MÁSTER, VALVE
Purity of Tone is a necessity to all who have that finer senso of radio. Purity of Tone is appreciated at its best when Mullard Valves, working for you."bring Mullard research to aid you to attain that perfect state of perfect radio. The Mullard Valve Guide-free upon request-will enable you to select the correct Mullard equivalents for your set,
GET IN TOUCH WITH US TO-DAY——
THE ANDERSON MUSIC CO., LTD. Ice House Street.
Ku
Tel. 21322.
Rich bouquet, ripe maturity.
King
George IV.
Old Scotch Whisky
The "TOP NOTCH” of Scotch
"Say WHEN, Man""
Sole Agents: GILMAN & CO., LTD.
Gloucester Arcade
R.E.O.C.A. DANCE-
DAND OF HIM.S. HERMES ENGAGED
Tel, 30980.
This dance is being held in the China Fleet Club Theatre and will commenco at, the usual time, 8.30 p.m., but the doors will be closed at 11.30 p.m.
As the China Fleet Club Theatre has provious bookings for the next two dancos, March 25 and April 11, they For their danco
Saturday, will be held in a smaller hall. Owing March 14, the RE. Old Comrades' to, the popularity of theio dances
and Association have secured the servicorticoste will be by invitation. 1 of the popular dance band of the names in the invitation book, they are patrons have not yet entered their aircraft carrier Hermos. This will be requested to forward them to the Hon. the band's drst appearance in public Secretary, Entertainments Committes since their return to the Colony, R.E.O.CA Wellington Barracks,
on