THE
HONGKONG
TELEGRAPH,⠀⠀ TUESDAY, APRIL,
12
1988:
CHINESE RECOVER KEY CITIES
(Continued from Page 1.)
Tsinan but said he was not inform- ed as to details of the subsequent happenings.
Hauchow newnboys, however, are crying extras featuring the latest news and extensive victory celebrations are planned.--United Pres.
Surprise Attack On Chufu
Hsuchow, April 12.
Once more applying their favourite tactics, Chinese regular and guerilla forces launched surprise attacks on Chufu on the Tientsin-Pukow Rtall- way In Shantung, and Ningyang northwest of Yenchow on the same Tailway, under cover of darkness on Sunday night.
Scaling the city walls with ludders, the Chinese troops broke into the cities and engaged the Japanese.
by Hand-to-hand Sghting, featured the hurling of hand grenades, the thrusting of bayonets and the wicki- ing of big swords, ensued. Japanese soldiers were driven to the ends of narrow lanes or into civilian houses. They were either shot disarmed.
Many
Ur
The Japanese aerodrome at Ning yang was attacked by a Chinese unit. More than 10 Japanese guards were killed and a large quantity of gaso- Iine set on fire.
About 400 plouls of Japanese army provisions at Chufu were also seized.
Central News,
Yihsien Lines Weaken
Nikow, April 12.
Subject to the repeated flerce on- slaughts of the Chinese forces, Japan- ese lines of Ylhsien are reported to be weakening..
Competent military observers at the front belleve that the recapture of Yision is imminent. After occupying
a number of hills in the suburbs commanding the town, the Chinese forces continued their advance steadily yesterday, challeng- ing the Japuttese in hand-to-hand combats. Armed with hand grenades and swords, they launched no less than 10 successive onslaughts during the day.
DENIES
PROFITING
ON ARBITRARILY INCREASED PRICES
(Continued from Page 1.)
$533,401.97 available for appropria- | dumping of cheap cement of foreign
tion.
DOLLAR DIVIDEND
the
This satisfactory showing enables your lourd to recommend the pay- ment of a dividend of $1 per share and bonas of 25 cents per share, absorbing $244,367.50, and to fur- 'ther recommend that sum of $8,262.12 be appropriate to Gen- Reserve," (thereby increasing eral that Account to $1,050,000),
the pay- ment of a bonus to staff amounting to $12,080.20, and the carrying tor- ward to rexi year's Account $178,009.15; all of which appropria- uns require the confirmation of shareholders at this meeting.
of
From the auditors' report you will note that no charge has been made covering depreciation on Plant and connection Floating Craft; in this
opinion your Bourd is sul of the that the drastic
of writing down fixed assets by $2,913,uz1.81, as part of the Reorganisation Scheme under- taken in 1934, renders further de- preciation unnecessary, more particu- Iarly so having regard to the fact that the book value of the declining assets is more than covered by the Heneral reserve, to which latter ac- count your board is allocating-in round figures-one lakh. 1 may here odd that it is the policy ut your directors to augment such reserve from time to time us profits permit.
COMPANY'S FINANCES Turning to the balance sheet it is once again my pleasure to draw your attention to the extremely healthy state of your Company's finances; in addition to the sum of $403,269.20, standing at the creast of current account with our bankers ns al December 31, 1937, we have nc- quired during the year under review investments to the extent of $410, 635.92, by the employment of liquid funds-surplus to our immediate re- quirements-in securities,
first class forni
now
Toward noon the Japanese lines As previously mentioned, the gen- began to
to show signs of weakening as eral reserve will-subject to the ap- confuscel Bghting took place at many proval of the recommendation points. The Chinese central column submitted-stand at the substantial at Changshan
n-gure of $1,050,000, by the augmenta- pressed toward Luan- kou and Tlenchushan, points in the tin of $98,262.12 out of prolis, to-
with the Immediate vicinity of the town. The gether
smull Sum Chinese left wing reached Aphutsai, 51,737.88, representing the value of and Lotushan, whilst the Chinese the balance of our salcable assets on right wing was still engaging the closing down the Macae Works, these of materials having been dispused Japanese at Shuangshan and Tanshan, ma
Picked Fighters
In view of the hilly terrain around Vision the Chinese forces now fight- ing there are especially trainer,
They are lighting excellently.
Enveloped by the Chinese on ali sides,
the Japanese are fighting des perately to avert a second Taler- chwang. In an attempt to occupy Kuolichi, a strategic point north of Visien, which commands a key post- tion on their route of retreat, 2,000 Japanese troops supported by a num- ber of field pieces launched a Berce attack there. They were later re- Inforced by about 500 troops from Toonchwang
of
to our final surrender of that property on June 30, 1937,
measure-A
with satisfaction that your. directors, present to-day the greatly improved results of the working of your undertaking for the year 1937, which may be regarded-in a great the outcome of the stringent economies tffected through out the past difficult years,
neres. sitating-Inter alia-the conservation or the cash resources of your com- many and the maintenance of ade- quale stocks of raw materials to meet all emergencies.
At the commencement of the Sino- Jast Japanese hostilities In August supplies of cheap cement ceased to floud bath the local and our export markets and in consequence a keen
your,
and
previous
there
is
our
origin, to which I have just made reference, and whils, under prevailing conditions your company has by no means been free from competition, export either in Hongkong or markets, nevertheless, at the present time our prices are well below those of other branus; I would here sus that it is the poley of your Board to do everything possible in order to maintain these at reasonable levels. PROFITS FIRST HALF OF YEAR
Whilst during the year under ge- vity a material portion of the profits realised accrued during the period following the outbreak of hostilities, it is interesting to record that prior Was to that event your company enjoying a fair measure of prosperity as was foreshadowed by me in my speech last year-and for the first Mix months of the year the profits amounted to $180,167.40.
I
which seems
the
MALAYA "BOY” ATTACKS SHIP OFFICER
(Continued from Page-1.)
ns he attempted to dodge, allegedly i tried to kick the Malay, but was too late to avoid the knife and was struck on the left shoulder. The wound fa not believed to be serious.
As a result of the attack, the Mainy, Mohammed Amin Bin A Jalil, 10, was Butters at the Central Magistracy arrested and charged before Mr. H. H. this morning with causing grievous bodily harm to Mr.
Gray
Inspector A. Wright, who prosecu- ird. asked for a remand of 24 hours, saying that Mr. Gray was in the French Hospital, and would not be until to- able to appear in Court morrow,
Defendant was reminded.
·
NAVAL EXPERTS TO
MEET AGAIN..
London, Apr. 11.
A further meeting of the naval experts of the governments of Great Britain, France and the United States has been called for to-morrow at the Foreign Omce, to
consider questions under the London Naval 10 the Treaty of 1930 in relation invoking of the escalator clause. Britlah Wireless.
MR. HORE BELISHA GOING TO MALTA
London, Apr. 11.
The Secretary of State for War Mr. Leslie Hore Bellsha, will visit Malta at the end of his wrek. to
defences inspeel
and military
Hore establishments. Mr. will leave Hendon by air on the morning of April 14.-British Wire-, teas.
in
beha
|
RADIO BROADCAST
Gaston D'Aquino From
The Studio LONDON RELAYS Radio Programme Broadcast by ZBW on Frequencies of 145 k.c.'s, 9.53 m.c.'s per second.
0.0-7.0 Chinese Programme 7.0 Dance Music,
Who Heart; Fox-Trots-Foolish Loves You, Ronnie Munro And His Dance Orchestra, I Dreain of ΟΙ San Marino; Let Me Dream Havana .. Ronnie Munro And His Dance Orchestra.
7.12 Closing local Stock Quotations. 7.15 London Relay-Detectives In Fiction'.
The Arst of a series of dramailsed detective stories. Each programme In this series will deal with a dif- ferent detective in fiction whose ex- ploits have made him famous.
1-Sherlock Holmes.
and the adventure of Silver Blaze from the story by A. Conan Doyle. Adapted for broadcasting by Pascoe Production
Lesile by Thornton. Stokes.
7.45 Musical Comedy Selections. "London Rhapsody"-Vocal Selec- tion (Carr and Kennedy). London Palladium Orchestra ducted by Jack Frere. "Crest Of The Wave Selection (Ivor Novello, arr. C. Prentice). The Drury Lane Theatre Orchestra conducted by Charles Prentice, Mus. 'Bae.
The
con-
8.0 Local Time Signal, Weather Report and Announcements.
8,03 Stpilla Gaston D'Aquino (Tenor) and E. O'Neil Shaw (Piano). Ch'ella mi ereda ("Fanciulla del West"
st"-Puccini); 2, Piano Solo- Romance
nce (Gllere)... E. O'Neil Shaw; 3. Mi
Amor (Perez Viejo - FreeRequest); 4, A Vucchella (Tosti); 5. Povero Pulcinella (Buzzi
Peccio). 8.23 B.B.C. Symphony Orchestra. Overture "Light Cavalry" (Suppe) Orchestra conducted by Adrian
8.30 London Relay-Escape"-1. First hand accounts by Prisoners sets the of War. J. R. Ackerley
Boult.
am given to understand that It has been suggested in some quarters that your Company has been taking advantage of the present abnormal conditions to augment its profits by can assure you, is not the case, the arbitrarily advancing prices. This, very substantial profts now display- ed being mainly attributable to the fnet that, due to the improvement in our sales, we have been enabled to realise the major portion of our considerable
stocks of cement, clinker and raw materials, the bulk of which had been on hand since oa for buck as 1984 and was acquired at much reduced rutes; furthermore, the results obtained are due in a marked degree to the lowering of general costs, consequent upon In- creased production, with the resultant into one whereby your company has necessity for full time oneration of relieved itself of the incubus of ad- two kilns, a condition precedent to juncts of a non-prout carning na re
and which as long as they continued... the most economic sind Di your Works. Whilst on this subject in operation-were a constant source
dispel belief of expense and
!
Louble 10 your I would like to
to prevail that the Executive Personnel. this connec- past successful year has been due to tion I refer more particularly to the large sales of Cement to China, as the
the technic covering many years--not
supervision of the hostilities which nave exercised- occurred; in this connection I would only over the Macão Worker, but also
only inform you that our commitments,
the Brick & Pipe Works at Deep both in Hongkong and Malaya, have
Water Bay, both of which adjunc s been such as to entirely preclude
may have in their day-contributed possibility the
of supplying! any
your earnings com. small cement against the present require-
degree; nevertheless, covering the ments of China; moreover, having past decade they were merely regard to the fact that at the prerent
drain upon proflis. The final liquida- is reveiving your
соmраnу
adjuncis time contracts from the Hongkony Gover ment and the Naval, Military and Air Force Authorities both in font Kons and Singapore-priority of kong importance attaches to
and tracts, trac appreciation of your Bourd for the support received from these quarters, we feel confident that the prerent crisis will have amply demonstrated of Importance and necessity the
maintaining such support to your undertaking, in the absence of which, not only would one of the leading local Industries perforce be pelled to close down, but also, in order to meet the requirements of
such con-
in recording the
.our
com
|
to
tion of these
111
necessarily
8
has mude material reduction in
scene.
9,0 A Spanish Programme. "Three Cornered Hat" Suite (De Falla). 1, The Neighbours; 2, The New Light Sym- Miller's Dance
phony Orchestra conducted by Dr. Malcolm Sargent. L'Amour Sorcier (Manuel de Falla). Dunse De La Frayeur Et Reel Du. Pecheur; Dansa Riluette Du Fen.. Ricardo Vines (Plano Solo). From Sept Chansons Populaires Espagnoles (Manuel de Falla); Chanson Du Feu Follet (Extraite De L'Amour Sorcier). Soneto A Cordoba (Manuel de Fallu) Maria Barrientos (Soprano) with at the Plano. Manuel De Falla in the
Aragon-Fantasia (Albeniz); Puerta Orquesta De Tierra-Bolero (Albeniz)
Sevilla conducted by. Joaquin Roberti,
overheads and permitted concentrated possible tort to be directed to your excellent Works at Hok Un, and it will doubt- less be a source of no little Batis- faction to Shareholders to re
knowledge that the Company is now not only on a sound financial basis, but was never in a be ter position to consolidate markets gained and also to explore avenues hitherto unopened to our product.
..
0.30 London Relay-The News. 9.50 Violin Belos. {
(Bizet-Arr. "Carmen"-Fantusy Sarasate)
Elrem Zimbalist (Violin) with T. Snidenberg (Plano), 10.0 London Relay The Micro- one At Large'. phone
Whilst touching upon this aspect of affairs, I cannot let the opportunity pass of recording the appreciation of
our Board to your Secretary,
Mr. T. C. T., Beck, and your Works With S.P.B. Mais, A visit to Manager. Mr. R. Taylor, for the
the Southam, Warwickshire. A pro- efflelency of services they have rendered covering the past ten years,
gramme arranged by David Gretton. 10.30 Variety and Dance Music. during which time the Company was Vocal-The-Touch Of Your Lips
competition of a
Of Love (R. Noble); The Glory
Hildegarde with severity necessitating drastic Re- (Billy Hul) .. loyalty of these two Executives and Accordion-There's A Gold Mine In construction and Reorganisation; the Carroll Gibbons and His Boy Friends. Umited your Sinf in general, in the face of, The Sky (Kenny); Bands
conditions, involv
is
adverse business ing drastic retrenchment, has been beyond mere commendation; more over, it is due in a great measure to the efforts of those concerned that your Company in to-day in the ex- cellent position, as reflected in the Report and Accounts with which Shareholders are now presented..
the Colony, would necessitate reliance upon foreign importations ut greatly enhanced prices, n matter which has been stressed from this After a bitter engagement lasting aemand was created for your com
Chair from time to time in the
the past. from morning till noon, the Japanese pauy's product, with the result that As It Is, our output at the present confronted with
time la booked for a were repulsed with heavy losses, the sales from your Hok Un Works ahead. In order to meet the require
longer Many Japaneer officers and soldier for the year under review were captured alive.--Central News., amounted to 104,000 tons, represent matter of regret that
avements of these authorities, and it is a almost double the quantity ing
of manufacturing capacity renders it Fighting Near Changhing cement suld
the our.ng Kwangtch, Apr. 12.
thus maintaining two kilns in impracticable to accept business of a
which more lucrative nature Fierce Bghting took place at a operation for the whole year. Since offering in other directions. district northwest of Changhing on September last their output has been
taxed to its limit the west bank of the Talhu Lake, tax resulting in more than 150 Japanese state of affairs continuing for sure
every prospect of this satisfactory being killed.
to come, in order to cope with time The fighting started yesterday 'contracts already undertaken and in morning when more than 1,000 Jap- prospect, anese, troops attacked the district
Due to the Japanese blockade of of our principal competitors in the which was recently recaptured by Chinese ports dificulties have had local market, the important defence the Chinese, The Japanese were to be surmounted in the matter of programmes which, we understand, forced to retire towards Changing.
have now been sanctioned by the who said: maintaining regular supplies of raw The highway between Changing materials for your
Home Government, give every reason and Wushing, the slik filature centre pleased to report, however, that, with to anticipate the continuance of the in Chekiang, has been cut at more the cu-operation of our old suppliers, present ready sales of our product for than ten points by Chinese guerillas.
we have been successful in arranging some time to come. Nevertheless, it As a result the Japanese communi- regular deliveries thereof, thus en-is my duty to mention that higher cations in this sector have been dis-suring continalty of operation of your costs of raw material, coupled with rupted-Central News.
plant, notwithstanding the prevailing the increased rates of freight, the and somewhat difficult conditions, full burden of which has not been
State Of Emergency
In Pootung
Hunkow, Apr. 12. A state of emergency has been declared by the Japanese at Poolung where Chinese guerillas are increase
ingly active, according to a message from Shanghai-Central News.
Yellow River Defence Strong
tion tour along the river,
The
Japanese force, numbering about 2,000, he said, will not be able to cross the river to the south bank
-Central News.
factory. I
DEFENCE PROGRAMME Whilst I do not with to display undue optimism us to the future, I am confident that, apart from the engendered by the absence demand
CONGRATULATES BOARD
The Report and Accounts were seconded by the Hon. Mr. T. N. Chau,
Mr. Chairman and Gentlemen, It is with much pleasure that I rise to support the report and ac- counts, as presented, and on behalf of shareholders I desire to congra- tulate the Board of Directors on the very fine showing displayed to-day, which reflects great eredit
on
لله
and if tangible evidence be required, felt until the present year, may have wheel remind you of the d-|
MAY BE LOSSES
it would appear that the events of some effect on our future returna. the past year have proved that the polley of your board in keeping stocks of at least two years' supply In the circumstances indicated and when considering the outlooks for of raw material on hand is questionably sound, since, in the 1938, it appears opportune to acquaint absence of the requisite supplies, I sharchaiders of the fact that we have your factory would not have been in on our books at the present time a position to carry on production and com
large of cement contracted for due to our
les representing a
+
1
versities with which the Cement Company has had to contend during the past seven years and it is most gratifying to learn that the Company has not only survived these vicis situdes, but was never in a stronger position than that in which It stands today.
is also very satisfactory to hear that arrangements have been made
materials for our factory, which will
(From 'Command. Gipsy ance) Pr
Primo Scala's
la's Accordion Band with vocal Chorus. Orchestra Cuckoo Waltz (Jonusson); Brigitte Dajos Bela Waltz (Moretti)...
Vocal-I'll Dance Orchestra.
Sing You A Thousand Love Songs (From Cain and Mabel'); Serenade In The Mare Henri Night (Kennedy) (The Roaming Troubadour). Orch.
from Serenade
"Frasquite" (Lehar); Emil Jalousie Tango (Gade). Roosz And His Orchestra.
11.0 Close, Down.
Alleviation For Railroad Crisis In U.S.
Washington, Apr. 11. President Franklin D. Roosevelt, in a message to Congress, has recom- ended immediate legislation to pre- vent serious financial and operating difficulties by the railroads, pending a study by Congress of a permanent
on the cessation of large imports prior to the Sino-Japanese conflict as to ensure the adequate supply of raw solution of the railways' problems. meet the heavy demands, resultant
and of the dumped product in higher coss, leave particular,
to
W-I
MORE
NEW
SPORTS SHIRTS
AT
MACKINTOSH'S
MAČKI
Never before have we had zach a range of Sports Shirts to show you.
Whether you like a thin Interlock cotton shirt, a soft cosy Celanese or one of the better quality Acrtex Shirts for the hot days, or whether you are looking for a warmer Cash- mere shirt to wear in cooler climes, we can supply you-and in a sur- prisingly large variety of colours.
Should your chalco be guided by your pocket we may add that the Cashmere Shirts cost $17.50. and so on down to $4.00 for the Interlock ones.
We allow 10% discount for cash.
MACKINTOSH'S LTD.
Wright's
CoalTar Soap
The saje
20 MADE IN RI
MEN'S WEAR -SPECIALISTS
Someone else ha
Count
DAY LONG FRESHNESS
A morning bath with Wright's tones and freshens the skin in a manner entirely its own. It imparts a feeling of coolness and Invigoration which lasla
Wright's, the soap of Health, possesses antiseptic quailties which protect the skin from infection by contaminating contacta, and ensures a feeling of comfort and... exhilaration throughout the day.
WRIGHT'S COAL TAR SOAP
For a close, easy shave there is Wright's Coal Tar Shaving Soa Bote Agents: GHIMIAN & CO., LTD.
STRIKES AGAIN
THREATEN
(Continued from Page 1) Nevada City to the Grass Valley area. -United Press.
ROOSEVELT |TO REVEAL JU.S. PLIGHT Huge Sum Needed For Relief
of foreign cement into the Colony very low prices, margin of enable us to carry on manufacture, that all executive functions relating crisis before the nation on Thursday,
profit. Nevertheless, it is anticipated that fresh orders being booked at revised price levels will assist in offsetting possible losses on business within the first category.
Taachsten, Apr. 12. Chinese defences along the Yellow River are strong, according to Ad- mirul Shen Hung-lleb, Chairman of HIGHER COST OF MATERIALS the Shantung Provincial Govern- ment, who recently made an inspec- As to fresh contracts which have I been entered into for raw materials,
Finally, and in reviewing the post- shareholders will appreciate that it has been necessary to meet greatly tion generally, I am pleased to be able to state that your undertaking advanced prices and it will, in
has weathered the dileul les and circumstances, be readily understood
the handicap of the past ten years that your company, in turn, had no
in a manner that bears eloquent testi- Japanese Planes Burned option but to increase prices com-
mensurately, in order to cover such mony, not alone to the higher Chengchow, April 12. Increased costs; in this relation I standard of Its product, but in the
despite Five Japanese supply planes at the would point out that,
the face of keen compediton-to the
of those directing
the Sinslang uerodrome were set on fire fact that the rising cost of materials acumen by Chinese guerillas during a sur-
was such as to make it imperative marketing thereof, in which relation prise rald on the airfield recently, that prices be increased, it was not I desire to pay particular tribute to Agents In Malaya, Mesars. The pilots were
killed.--Central unui September last that such In our Nawa.
crease was effected and it is satis- McAlister & Co., Ltd., whose whole factory to record that to-day these hearted collaboration and unceasing represent an advance of 40 per cent. efforts have contributed so material- only, on prices ruling twelve months ly to the Increased turnover of the ago; moreover, it must be borne in past year, mind that the company
hus, since
EGYPTIAN-TURKISH TREATY RATIFIED
Cairo, Apr, 12.
the reorganisation undertaken-
HOK UN PLANT ·
At the same time he has suggested in splic of the present situation in to transportation be placed with one China, and we are glad to learn that Federal department, and all quasi-
for our Com→ he present demand
legislative and quasi-judicial matters puny's product is expected to con-be placed under an independent com- iinue for some time.
mission-the recognised Interstate I feel sure that Shareholders willi
Commerce Commission.-Reuter. join with me in supporting the pay- ment of a Bonus to the Staff, whose energies have, no doubt, contributed Inrgely to the results before us,
ion of the Report and Accounts, na
I now formally second the adopt Bishop Yu Ping rented, together with the Direc, Thanks Hundreds
tors recommendations with regard to the appropriations, and I would like, on behalf of Shareholders, to record our appreciation to the Board of Directors and the Staff of the very satisfactory results of the year's working.
On the procomil of Mr. B. Wong- tape seconded by Mr. A. Nissim, Mr. A. L. Shields and Mr. Li Tip-tong were re-elected to the Board.
The re-election of Messrs. Linétend: and Davis and Mosirs. Lowe, (Bing-1 ham and Matthews as Auditoresfor the current year at a fee of $1,000 each per spoum. was” spproved on
previously referred to been operate Your plant at Hok Un has been ing upon a prime cost basis only well maintained and is functioning such policy having been neccessary in order to assure continuity of tandard meriting the approba operation covering the past sevention of your technical staff; further “changed - İnadiruments of ratification » Fears, during which period... your more, the past year having witnessed the mottad. of Mr. Make YukwÉN –
"undertaking has had to content with tha-Anal- closing down of the Macno seconded by Me:Fung Kwok-WB/
At the Egyptian Foreign Office to-day, the Turkish Minister ex-
of the? Kontian-Turkish Treaty
*Reuter Bulletine
„severe - competition,
due
to
the
Works, the
position resolves itself
Who Aid China
London, Apr. 11. Bishop Paul Yu Ping, speaking at a reception orgsaised in Lon- don by the · China . Campaign Committee, thanked" friends of China who had sent help for the V vletims of the war.
He added that he had found people, · and Roman Catholics gwierally, supported Chins, for China's fight was bound up with the *: dirbi..., for. hilde. Rriter.
and
Washington, Apr. 11. Bringing to a climax all-day deve- lopments, the White House announced Roosevelt that President Franklin tentatively plans, depending on his ability to prepare the draft speeches, to lay the full import of the economic first by means of a special relief mes- sage to Congress, and then through a "freside broadcast" in the evening. The message 18 expected to request about $1,250,000,000 for the. Works Progress Administration for, the first seven months of the fiscal year, be- ginning July 1.
Meanwhile it is unconfirmedly.ro-|
ported that President Roosevelt Is
considering using the $1,000,000,000
Sterilisation Fund to defray the cost
of the new recovery drive.
The "fireside broadcast," in which he will read and explain his con- gressional message is interpreted as emphasising the chaotic condition of Industry and unemployment.-United Press
SHIPPING WARNED
A nollee has been issued by the Harbour Department Informing shipping that piling work is in pro Arcas nt. Talkoo Docks and The Talkoo Sugar Refinery, and ships aro requested to proceed at reduced speed when parking these localities,
·
There are thousands of families in this colony who have but threa alternativesi-
To bog,.
To steal,
To starve.
These people are our fel- low human-beings and our follow citizens, and their 'children' deserve a batter chance in life than this. We exist to see that they got it. HONGKONG SOCIETY FOR THE PROTECTION OF CHILDREN Room 208, Bank of East Asia
Rullding...
"TYPEWRITING AND COPYING
SEA OFFICE
Gestetner