THE HONGKONG
TELEGRAPH. TUESDAY,
MARCH
16,
1937.
P & O-BRITISH INDIA-APCAR AND EASTERN & AUSTRALIAN LINES MAIL AND PASSENGER STEAMERS
Taking Cargo For
Stralis, Java, Burma, Ceylon, East and South Africa, Australia, India, Persian Gulf, Mauritius, Red Sea, Egypt, Europe, PENINSULAR & ORIENTAL fortnighTLY DIRECT ROYAL MAIL STEAMERS. UNDER CONTRACT WITH H.M. GOVERNMENT
All dates are approximate and subject to alteration without notice. and all sailings are subject to change or devlation with or without notice."
PENINSULAR & ORIENTAL SAILINGS
From
About
20th Mar. Marseilles & London.
8.8.
Tons
Hong Tonk
Destination.
*JEYPORE
5,000
10th Mar. ¡Straits & Bombay,
CARTHAGE 14,000
⚫ALIPORE
5,000
*SOUDAN
7,000
RANCHI
17,000
Kidderpore 5,000
15,000
CATHAY *BURDWAN❘ 0,000
• Carge only,
26th Mnr. Straits & Bombay,
27th Mar, Marseilles, Invre, London, Hamburg,
Rotterdam, Antwerp & Hull.
3rd Apr. Bombay, Marseilles & London.
3rd Apr. Straits & Bombay
17th Apr. Marseilles & London.
24th Apr. Marseilles, Havre, London, Hamburg,
Rotterdam, Antwerp & Hull,
+ Calls Casablanca,
All vessels may call at Malta.
§ Calls Tangler.
BRITISH INDIA-APCAR SAILING
TALMA
10,000
30th Mar.
SIRDHANA 8,000
SHIRALA
8,000
· TILAWA
10,000
SANTHIA
0,000!
10th Apr. Singapore, Port Swettenhamn. 24th Apr.
Pepong, Rangoon & Calcutta.
11th May
22nd May
EASTERN & AUSTRALIAN SAILINGS
NANKIN
NELLORE TANDA
*7,000]
7,000
7,000
"JTE "APP,
1st May Manila, Rabaul, Brisbane, Sydney. 4th Junet
Melbourne & Hobart.
SAILINGS TO SHANGHAI & JAPAN
SIRDHANA .8,000
BURDWAN 6,000
- CATHAY
15,000
SHIITALA
Rawalpindi
NELLORE
*SOMALI
·8,000.
17,000
7,000 8,000
Cargo only.
..
18th, Mar. Amey, Shanghai & Japan. 100 Mar. Shanghai & Japan. 26th Mar. Shanghai & Japan.
1st Apr.(Amoy, Shanghal & Japan.
1st Apr. Shanghai 22. Japane
4th Apr. Shanghai & Japan.
15th Apr. Shanghai & Japan.
All dates are approximate and subject to alteration without notice. For further Information, Passage, Freight, Handbook, etc., apply to
"The Agents. Phone 27721
MACKINNON, MACKENZIE:CO
RIGTO JBUILDING"CONNAUGHT ROAD CENTRAL, HONGKONG |
SWEDISH EAST ASIATIC
M.S. "DELHI”.
M.S. "SHANTUNG"
Co. LTD
2nd April 28th April
HONGKONG to ANTWERP
£54
(Excellent accommodation still offering for a limited
number of passengers.)
GILMAN & CO, LTD.
Hongkong.
Agents:
G. E. JUTGEN.
Canton,
TRAVEL A.-O. LINE
TO AUSTRALIA, Calling at Manila, Thursday Is., CAIRNS Townsville, Brisbane, Sydney and Melbourne.
CHANGTE-TAIPING
ritish Steamers:
(Oil Burnòra);
FASTEST & MOST UP-TO-DATE STEAMERS IN THE SERVICE
OPEN AIR SWIMMING POOL
ELECTRIC LAUNDRY, BARBER SHOP, SURGEON
AND STEWARDESS CARRIED.
Enjoy Your Leave in Australia and New Zealand.
Hong Kong to Sydney-10 Days
·FIRST CLASS FARE TO SYDNEY, £76 RETURN
י
STEAMER
+
re
LONDON (via Australia) from £127.15. (Australian Newspapers on fle).
Duo H'Kong Leaves H'Kong Leaves, Manila Due Sydney TAIPING In Port...
16 Mar.19-Mar.
CHANGTE
9 Apr.
16 Apr
TAIPING. CHANGTE
11 May
18 May
8 June
19 Apr. 21 May. 16 Juno 18 Juho
6 May 6 Juna 4 July
AUSTRALIAN-ORIENTAL LINE, LIMITED.
Sallings subject to alteration without notice.
for Freight or Passage, apply toda
Butterfield & Swire Agents Hong Kong-China-Japan
Telephone 30332.
COMPANY MEETING
SATISFACTORY YEAR BY VIBRO PILING
·The manual general Meeting of the Vibro Piling Company, Limited, was held at the Jacobean Room of the Hongkong Hotel yesterday. There were present Mesars. S. M. Churn (Chairman) J. J. Basto and the Hon. Mr. R. H. Kotewall (Directors), F,
d'Almada Remedios (Secretary) and E. W. Blackmore, C. II. Barlo, Lam Shu-chuen, Lo Pung-tin, Young Polk, L. "Well, M. Well und L. G. Ribeiro (shareholders),
In addressing the shureholders, the" Chokemon sald;
Before we proceed with the busi- ness of this meeting, I think it la fitting and proper that we shouki place on record un expression of our deep regret at the untimely death of our Jate Chairman Mr. C.. A. da Roza. In his demise the Company has been deprived of a most capable and re- sourceful Chairman and helpful ad- viner. As a token of our respect to his memory, I ask you, Gentlemen, to stand for a fow momenta silence.
From the profit and loss account you will have observed that after providing for depreciation in the sum of $7,370.70, the net profit for the year amounts to $25,842.76, a show- ing which I feel certain you will. concur with me is highly satisfactory.
Michael Whalen discovers that a sheriff and a shot-gun are powerful argu- ments in Universal's film, "The Man I Marry," which is showing at "the"]
Alhambra Theatre to-day."
NEW YORK STOCK
EXCHANGE
MARKET IRREGULAR
YESTERDAY
1st.
Cutton: The response to the strength of the Liverpool market was sustained by price-fixing here, and short-covering for Moy on the indica- tion that it was assuming the strength of the March position. Speculative buying wag-light and the undertone of the market was steady, with the
Textiles were active and prices silli advancing.
THE
BLUE FUNNE
LINE
REGULAR AND FAST PASSENGER SERVICES
FREIGHT AND
LONDON SERVICE
DEUCALION
· PATROCLUS'
sails 24 Mar, for Marseilles, Casablanca, London, Rotterdam, Hamburg & Ginsgow
sails 7 Apr. for Marseilles, London,
Rotterdam & Glasgow
market 'absorbing heavy profit-taking. LIVERPOOL SERVICE
are
of
TEUCER
RHEXENOR
salis 23 Mar, for Havre, Liverpopl and Brom- borough
salls & Apr, for Boston, N.Y, Philadelphia & Baltimore via Manila, Batavia, Straits & Cape of Good Hope
(via Kobe, Nagoya and Yokohama)
PACIFIC SERVICE
TALTHYBIUS soils 15th Apr. for Victoria, Vancouver & Senitie
New York, Mar. 15. S. C. & F. Dow Jones Summary of Turning to the balance sheet; I
yesterday's market:-To-day saw the think you will find that this state-lightest trading since March
Wheat: The firmness of the July NEW YORK SERVICE ment is very straight-forward and Steels were sald, while rails and strong demand for our Winter crop position is construed as forecasting a hardly requires any comments from utilities dipped after an early strength, and renewed European buying the Chair, except perhaps, the Oils were down. Some specials show- Argentine wheat, of which 71,000,000 observation that the items.
Invest-
ed substantial gains. High grades bushels remains for export. Canadian ment on first mortgage shown it
were dull. Motors sagged fractional-export sales are reported to be over $30,000,
secured loans at $21,000 and ly. Non-ferrous metals were mixed, 1,000,000 bushels. There has been in hand at $55,386.37, reflect in
. with majority lower. Avlations were a very vivid manner the excessive firm. Consolidated Edison equalled a visible decrease in supplies of 1,373,-
100000 bushels. capital on hand. However, as this
its own low. Dupont showed a new feature of our situation will be dealt low, Curb stocks were dull, with fully at the extraordinary meet- sentiment mixed. Bonds were lower, supplies are light. Argentine old crop
wen Corn: Cash demand is strong and INWARD SERVICE ing which is to take place after the with Government issues touching new is reported to be almost exhausted and
HELENUS present meeting, I will defer further
- ANTENOR lows. reference to it until then.
S. C. & F.
supplies of new crop will not be avalļ- Wait
Street Journal able until
MERIONES Inte March shipment. Of the accounts receivable shown Morning Comment:-The utmost dis- There Is been a visible increase in
erimination and caution are necessary supplies of 104,000 bushels. since the market has now become more two-sided, Some observers pre- Rubber Buying was mostly from dict dividend for Fick Rubber, com- foreign sources, while dealer selling moh. The strength of
Casi continues on advances. Aflantic
There has Hine is based on. the record Florida been an increase in the price of tires season. Some traders predict lower by 6 per cent. English stocks have prices for copper and the other metal decreased by 3.642 tons. inarkets next week, If highgrade
et $21,039.40, only $3,000 remains unpaid at date, this sum being the Fetention money of one of the con- tracts completed last year, We ex- peet the release of this retention sometime next month.
Bright Prospects
Copper: American. producers are reported to be opposed to any further advances, but, if in advance is necca- stated by foreign speculation, it will onts be temporary.
I would like to avail of this oppor-bonds should decline much further, it tunity to tell shareholders that the is expected that considerable buying year through which we are now pas- will be encountered. It is gossiped sing has started under very en-that shorts Navē again maken positions couraging conditions, and I have
in U.S. Steel, commun." every reason to hope that when we
C. & F. New York office cables: S. C. Stocks: Stocks to-day next meet it will be possible to pre-
were. sent,as favourable a showing.
moderate suppy and we exprel a technical rally shortly. The Times" 30 Industrials business index for the week was 20 Raits 108.5 as against 107.3 for last week 20 Utilities and 92.0 for the corresponding week 40 Bonds
|
I formally propose that the report and accounts as presented, including the recommendation to transfer $20,514.17 froin proft and loss ac- (of last your count to plant and machinery account be adopted.
The motion was seconded by Mr. L. Weill and appried-ununiinously.
On the motion of the Chairman, seconded by Mr. C. H. Basto, the Hon. Mr. Kotewall was re-elected a director for the ensuing year, andˆ on the motion of Mr. M.
Weill, seconded by Mr. E_W_Blackmore, Messrs. Lowe, Bingham und Malthews were re-elected Auditors,
Immediately after the meeting, on extraordinary general meeting of the Company was held to consider a re- solution to reduce the capital of the Company by paying off $2 per shore on each of the 32,300 shares issued.
The Chairman said:
The circular letter which accom- panted the notice convening this meeting, deals with the resolution so fully, that perhaps any remarks which may be made by me would be considered superfluous. However, some of you may think that a short reference to the past history of the Company with regard to its capital, may not be out of place.
Company's Illatory
The Company commenced opera- tlons early in January 1930 with an Issued capital of $70,760, with
ont
A
Low
additional
plant and a working capital of ap- proximately $25,000. After months the need of an plant was felt, and the issued capital was increased to $105,000 for the purpose of acquiring this
second plant. In 1931 we made. an invest- ment in the Shanghal Company to operate the "Vibro" system in that Beld. This inv
investment Was made •*. partly from profits and partly through an increase in capital. Unfortunate-
ly, however, the shar
Shanghai Company
proved a fallure, and the whole of the investment has since been written
off from profils. It mainly
account, that the Company Ands it- self to-day in possession of a capital very much in excess of its needs, and inasmuch as you will have gleaned. from the circular letter addressed to you that the proposed reduction of capital waykl not in any way impair the pront carning capacity of the Company your Board, after the fullest consideration, has come to the conclusion that the best interest of shareholders, as well us the Company, would be served by returning $2 per share on the 32,300, Issued shares of the Company.
I formally propose the adoption of the following resolution-"That the nominal capital of the Company be reduced from $215,000, divided into 43,000 shares of $5, cach, to $150,100, divided into 10,700 shares of $5 each and-32,300 shares of 83 ench that such reduction be effected by returning paid up capital to the da tent of $2 per share to the share- holders of the 32,300 shares of $5 cucis, which have been issued,"
shd
The resolution was seconded by Mr. L. G. Ribeiro and carried unani- mously," after which the Chairmanı announced that the necessary legal steps to give affect to the resolution would be taken forthwith.
JUST
in
REUTER QUOTATIONS
100.58
180.41
62.05
02.03
32.88
32,85
103.10
102.88
11 Commodity Index
77.80
70.72
ARRIVED!
Fresh Stocks of
LUCKY LAGER
Duo 20 Mar. From UK. via Straits Duo-27-Mar: From U. K.-via-Straits- Due 23 Mar. From Europe via Straits Special reduced fares are quoted for cargo steamers with limited passenger accommodation. For freight, passage ratés and information apply to
BUTTERFIELD & SWIRE.
Tel. 30393.
Agents. 1, Connaught Road, C.
Swan Culbertson
Frith $
Investment Bankers and Brokers in Securities and Commodities Dally New York and London Stock Exchange Service Commodity Futures on the principal American markets
„Members of
New York Colton Exchange Uhicago-Board of Tradeo Winnipeg Grain ExcliangC
Commodity Exchange, Inc., New York
Canadian Commodity Exchange, Inc., Montreal New York Coffee and Sugar Exchange
Manila Stock Exchange.
Correspondents for min
Hayden, Stone & Co., New York and Boston
Telephone 30244
J. E. Sivan & Co., New York
Cable Address SWANSJOCK Hongkong & Shanghal Bank Building, Hongkong- Offices: Shanghai and Manila
AMERICAN. CANNED L. R. NIELSON & Co.
BEER
are obtainable at
HONGKONG HOTEL
REPULSE BAY HOTEL
PENINSULA HOTEL
JIMMIE'S KITCHEN
MARCEL
BUFFET
and all dealers:
ALL CANS ARE DATED
SO FRESHNESS GUARANTEED.
GILMAN & CO., LTD.
Gloucester, Arcade..
- Tol. 30986.---
BROKERS
PROMOTIONS
MEMBERS: MANILA STOCK EXCHANGE
CLOUCESTER BLDG.,
First Floor Head Office:
601 Escolta....
Manila, P.I.
PHONES 31707-31708
P. O. Box 719.
Branches: Baguio, Bacolod Iloilo & Cebu.
NIELSON & COMPANY, INC.
Mino-Managers & Operators MANAGING
::
Hongkong Mines, Ltd.
Tinago Consolidated Mining Co., Inc. Lepanto Consolidated Mining Co..
Paracale-Gumaus Consolidated Mining. Col
Paracale. Gold Mining Co, Inc.
MANAGING & OPERATING --
Nieco Mining Company.
97 Cristobal, Paco, Manila, P.1.
HONGKONG SOCIETY FOR THE PROTECTION OF CHILDREN. (Women's Auxiliary).
· CHARITY BALL
Under the distinguished patronage of Hisi Excellency the Governor and Lady Caldecoti, at the Penninsula Hotel on
--FRIDAY-APRIL-9;
from 9.30 p.m. to 2, o.m. NORMAN BROOKS' BAND: SPECIAL CABARET ATTRACTIONS. Tlokets, $4 each (including, supper)" can be. obtained from the Hangkong-and-Peninsula Hotels or from..members of the Women's Auxillary;, 20
P. O. Box 717.
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