Wednesday,
HONGKONG TELEGRAPH.
DAIRY FARM'S RECORD YEAR OF PROGRESS AND
POSSIBLE INCREASE IN MILK PRICE WARNING
A year of record progress and profits was reported by the Hon. Mr. S. H. Dodwell, presiding at the 44th annual general meeting of the Dairy Farm Ice and Cold Storage Co., Ltd., at noon to-day,
"The accounts before you to-day show a record profit on the working account, the figures of $900,074.49, being some $88,000 more than last year," said Mr. Dodwell. "This result I am sure you will consider the more satisfactory in that it has been accomplished without increasing the prices of the commodities produced or manufactured by the Company, the chief of which are milk, Ico and ice-cream,
Two Now Confections
of
issue of 41,005 fully paid up shares was authorized by Special Resolution, The issue was duly made as will be seen in the Liabilities side of the Balance Sheet under Capital Account. The issued. Capital now amounts 10 $2,200,012.00 leaving only $49,907.50 departments have been affected to a unissued. Also on the Liabilities aide the dis-it will be noted that a sum of Those present were: The Hon. Mr. considerable degree by A. L. Shields, the Hon. Mr. T. E organization caused to certain shipp- $104,782.50 representing the bonus Pearce, Mr. H. V. Wilkinson, Mr. Ding companies as a result of the War. L. Newbigging. Mr. P. S. Cassidy,
the Mr. N. Croucher, Mr. P. Morphew, During the year we put on Mr. J. C. Gill, Mr. D. Macferron, Mr. market two frozen confections under W. Macforlage, Mr. D. K. Paul, Mr. the trade names of "Popsicle" and
Before closing my remarks I should C. T. Chun and Mr. K. C. Mark.
"Fudglele." These products are of our usual high standard and enjoyed like to pay a tribute to the Staff an immediate success, though they in whose task during the year under no way affected the safes of our ice review has been no easy one, They cream, the return from which Depart-have been voted a bonus of 715% deserve and which I am sure you ment showed an Increase over the on salaries, which they thoroughly previous year's figures,
will cordially support.
Chairman's Specch
$2.50 per share paid to Shureholdere In respect to the 41,003 New Shares issued has been deducted from Gen- eral Reserve.
The Chairman moving the adoption of the report and account sold:
Gentlemen: The Accounts before you to-day show a record proft in Working Account, the agure of $900,-
A record sale of that popular drink 074.40 being some $BB,000.00
Green Spot-which we manufac- There are no other items in the than last year. This result I am sure you will consider all the more antis-ture, was made during the year. This Balance Sheet calling for comment factory in that it has been accom-business has reached such proportions from me and I therefore have plea- Direclors sanctioned the sure in proposing that the Accounts plished without increasing the prices that your
commodities produced or purchase of an up-to-date syrup as presented be adopted and that the of the
more
PROFIT
Exchange At A Glance
SELLING
TT, London! Demand do. T.T. Shanghal T.T. Singapore
T.T. Japan
T.T. India
T.T. U.S.A
Manila
Batavia
T.T. TT. Bangkok
Saigon
.1/2.25/32 1/2.25/32
.350 .02%
.01
.12
.21%
.43
.40
15014
.108
10.82
1/0
..1/3.3/32
do.
.1/3.7/32
.2234 11.37 .03
TT. France... T.T. Switzerland TT. Australia
BUYING
4 m/s L/C London 4 m/s D/P
4 m/s L/C USA,
4 m/s France
30 d/s India
U.S. Cross rule in London 4.02 U.S. Cross rate in N.Y...3.03
.00
Danish Ship Torpedoed
MARCH 27, 1940.
-10068,-*AAA0rm | The Denmary; Lithbeið, " KAVAGN, SULTON, Mhael Vosephi “Kinsita of Karat Amana, Näure Winter, Miter For Doorki Irlanday, small Minister, tu wizures of Batiye Trosk, Letkisinin, Khaioral,
• Audig: ani! Jigli Gopatskastoner". Depurinaenka – “Min104. 1935 ↑ “Alinister for Sentraalne mizes Wa K.Por Auckland West atoce 1919
fata, Kolisių" March), unmarried laster of laught Virly smolquesentative mir New deplans at Chriptionant fingorial Cearle -Ensuke; 1911; Cdchlessed; of Milaswdzili Kietot,!
Wellington, NM-NES
From who's who
N. ZEALAND
PREMIER SUCCUMBS
WELLINGTON, Mar. 26 (Reuter).The Rt. Hon.
Mr. M.-J. Savage, New Zea- land's first Socialist Prime Minister, is dead.
Death occurred in Wellington to-night after a long illness which became acute a week ago.
The IL Hon. Mr. Savage, who was born in Bendigo (Victoria) In 1872- he celebrated his 08th birthday on March 7-was a bachelor.
His Administration was responsible for introducing far-reaching social legislation when it came into offler four years ago.
DS
It is thought that the N. Z. Labour Party will elect the Hon. Mr. P. Fraser to succeed Mr. Savage Premier. Since Mr. Savage's illness, Mr. Franer has been Acting Primo Minister.
London's Profound Regrot LONDON, Mar. 20 (British Wire-
manufactured by the Company, the making and fiftering plant which was sum of $490,8-15.05 for appropriallon Boat Action Cause5lets)--News of the death of Mr. M.
ercani.
of catile
would
יד
chief of which ore milk, ice, and ice-installed in the Main Depot In the be dealt with as follows:
lotter part of the
To pay a final Dividend of year,
$1.00 per share on 251,- lee sales have been well main-
430 aliares The advancing costs fodder, due to the outbreak of Sino-tained while our Cald Stores at East
a Anal Dividend of Point, Connaught Road Central and To pay a Japanese hostiles, followed
Rod Canton
have been well 50 cents per share on things patronized. most further increases in
11,905 shares regret to say that
a bonus of 25 caused by the European War, have fully justified an increase in the owing to the scarcity of fish the fast-To pay
cents per share on 251,- 430 shares chair
last price of our products, but it has al-freezing Plant to which my pre- ways been the policy of your Board decessor referred from the
To pay a bonus of 1215 een put into use.
cents per share on 41,- and always will be, that the prices year has not yet been
At our East Point factory we are commodities as milk
905 shares..... ot much vital
ere the where and lee should be kept down to the now able to offer storage lowest possible level, since they are temperature and humidity in the Add to General Reserve necessities with all classes of the store is controlled. This type of Add to Cattle Reserve
storage is highly successful for the To Carry Forward community.
That we have been able to accom-keeping of such commodities as flour. The demand for this lish this is largely due to the ever-chocolates, etc.
dermand for these parti-class of accommodation is so gratify-. increasing
that further dehumldyfying cular commodities over the past few ing
equipment has been ordered. thus showing that we enjoy услга the fullest measure of public confl dence which as you all know, is the most potent of all sales forces. In return for this confidence, we give the public milk which is cheaper than anywhere else in the Far East.
Premises Improved
оп
$251,430.00
Death Roll Of 13 SPECIAL TO THE TELEGRAPH" LONDON. Mar. 26 (UP).-It been revealed that the Danish ship Britta (1,146 tons) was torpedoed by a U-boat in the Atlantic on Monday.
20,952.50 has
$2,857,30
The ship was in ballast en route to 5,238.13 a British port from Denmurit when 15,000.00 an explosion shook her from bow to 50.000,00 stern, after which she sank almost 85,307.02 Immediately.
Thirteen lives were lost and five, $490,045.65 survivors have been landed at a port
in northwest Scotland to-day.
When this had been seconded I will be pleased to answer to the best of my ability any questions which Shareholders may wish to ask.
Dutch Crew Rescued AMSTERDAM, Mar. 20 (Reuter), A British warship found eight mem- bers of the crew of a Dutch trawler en a raft and took them to an English cast coast port. Three members of The cause of the loss of the trawler
In order to improve service at
Mr. Cassidy's Speech Kowloon, the Branch premises
Seconding the motion, Mr. P. Sthe crew ore missing. Nathan Road are being improved and reconstructed. During the altern- Cassidy said: It gives me great plea- tions the Dairy and Provisions. De sure to second the adoption of a re- is not yet known. partments will be transferred to No.port and necounts of record propor- tions. This Colony is well served by 94 Nathan Road.
As you are probably aware the its public utility companies but none Hongkong Land Investment & Agency of them has been of such direct We Co., who own our present down-town benefit to the health of the com-
munity as has this
this Company. premises in Queen's Road bave em- barked on a reconstruction scheme are indeed indebted to the ploneers ese premises and also who laid the foundations of this embracing these
concern but we must not leave out of account their successors who have
When addressing you from the the original Powell's Building Developed the Company by a pro-
1gressive policy based on sound fin ance and attention to public require
Brilliant Rescue LONDON, Mar. 20 (Reuter) The latest neutral victim of Nazi war fare is the Danish ship, Britta, which
was torpedoed in the Atlantic on Monday.
Five survivors have reached Britain. Their lives were saved by brilliant rescue by a nearby chip whose
name is not revealed,
crew
J. Savage, the New Zealand Prime Minister, has been received in Lon- don with the greatest regret. Mr. Savage was 68 and had been for some time.
in
At the outbreak of war, he was recovering from a severe abdominai operation, but he did not spare him- self in the weeks that followed order to bring the whole-hearted sup port of New Zealand to the Empire entise tion of King George in 1037. Mr. Savage altended the
corunu
Newspapers here review his work as head of the Labour Government responsible for a number of import- ant social measures, and pay tribute to his high standard of public duty and his personal character.
Historic Broadcast
The broadcast he made to
the
New Zealand people on the outbreak
of
war is recalled. In this Mr. 100 Savage declared "Not a moment soon have Britain' and France Laken up arms against so faithless and un- scrupulous an adversary. We fighting a doctrine that springs from contempt for human nature, and in confidence for the future we runge
Arc
ourselves without fear bealde Britain, Where she goes we go. Where she alands we stand."
STERLING FLOPS IN NEW YORK
Possible Increase Warning Unless, however, there is a hall cost of fodder, bottles, to the rising con cessities required for the production of our milk, it may prove impossible to avoid an upward revision of our price during the present year. Chair last year my predecessor White House fronting Des
A life-boat was sent out but mentioned that in order to cater for Road. It has been necessary
The the anticipated larger demand for fore to look for other premises and
righted the boat, clambered milk, orders had been placed for am pleased to say that we have been
capsized in the heavy seas. back and made their way to the additional cattle. Importations
tions fortunate enough to secure a lease of ments.
As your Chairman has pointed out
sinking Britta. throughout the year numbered 70 that section fronting Des Voeux Road.
They took off six men, but one was In the ground floor it is intended to a wide range of commodities and animals but I regret to state that
Instal modern and complete Food services, in addition to dairy farming swept abroad and was lost. owing to the unprecedented demand,
halt-pure and simple, are now covered
The He-boat made a second trip we could not entirely meet it during Emporium and also ina
mezzanine rection in the same floor to and can well believe that it is the greater part of the summer. Sales of milk during the year cOR-
those of us who are shareholders and was left save two empty rafts. siltuted
Attacked Four Times New York Foreign Exchange market Your Directors are confident that customers, as I have been for many Company and continue at an
OSLO, Mar. 20 (Reuter),When to-day. ceptionally high level for this time of this will prove a popular and pro-years past, are able to score in two Jong felt places. It is certainly an achieve-
United States steel Corporation to- the year, so much so that supplies of table venture and fili
ment to show record profits without the Norwegian ship, Fanefjell, or-
rived at want
Norwegian port on Monday declared a dollar dividend on the eren have had to be restricted,
profiteering. The mezzanine floor proper has
day, her crew described how, during common stock payable on April 26-- been taken for administrative offices. I have no doubt that housewives the past month, their ship was at the first dividend to be paid in three Having regard to this your Direct is most desirable from the points who do their own shopping will be tacked four times by German bom-years. tors considered it advisable to further of view of supervision and control delighted to hear about the new pre-bers and once by a U-boat. increase the herd; and of the animals that our executive should be accom-mises to which the Chairman has They escaped each time, ordered some 20 have arrived. With modated in our new premises, and, as referred. these further importations the herd | our present offees are now quite in illoyed atmapping in an air-condl-:
SPECIAL TO THE "TELEGRAPH" NEW YORK, Mar. 26 (UP). Showing the effect of the British Government's decree restricting the International trade, the pound plunged
a record in the history of the a Soda Fountain and "Snacke- jonly by very careful planning that but the Britta had gone. Nothing use of a free market for sterling"in"
More Animals
CX-
Q
duty.
stern
The crew also saw an attack last
A NEW
SPORTS SHIRT
Made from a new knitted fabric, fine in texture and light in weight. Is smart in appearanco, .com- fortable, and gives perfect freedom of movement. Will wash well and will not shrink,
In a variety of plain colours including dark blue, saxe blue; maroon, dark green, light grey and white.
· Less 10% Cash Discount
$5.00
14
MACKINTOSH'S LTD.
MEN'S WEAR
SPECIALISTS
ALL STEAMSHIP
SAILING
DATES AIR-LINE
DEPARTURES
FARES
LATEST INFORMATION CENTRALISED
IN
COOK'S
THROUGH, WHOM IT COSTS
NO MORE TO BOOK AND SAVES BOTH TIME AND TROUBLE
THOS.
:i
COOK & SON, LTD. Queen's Bldg.--Telephone 20524
to a new 8-years low level on the $1 TIFFINS
The entire part of the building the centre of the town and I share U.S. PLANES FOR market to absorb at the prevalling
which we have agreed to lease will the Directors' confidence that the
be air-conditioned and I believe this venture will prove popular. I quite will be greatly appreciated by our agree that the present ofees are
THE ALLIES
rates,
at
Jimmy's
Hankow Rd., Kowloon.
수? 툴
Jabuglogita ind
Heavy Salling
Also A la Carte New York, Mar. 20 (Reuter).— with a
a Soda Foun-
China Bldg., Hongkong. week by several Nazi bombs on an- Sterilng tumbled to-day on an en-
tellers taln adiacent will other Norwegian ship, Svinta, which tirely
which markel in rrest herds in the world and sure that Shareholders will agree that make a pleasure of what I was sunk..
selling orders during the holidays of the largent
present rather
In any 100% more than the num-this is a wise step.
accumulated to a degree far beyond roughly-
case there is plenty of room for
the capacity for the New York ber we had nine years ago. During
Air-Conditioned Building additional refreshment fnellilies in the year the herd enjoyed good health, a fact which is reflected in the favourable balance at credit of Cattle Wastage. Account in the Balance Sheet before you. You will observe with
WASHINGTON, Mar. 28. (Reuter). this balance amounting as it does to patrons who will be able to shop in totally inadequate and I am glad $87,531.98 and that standing at credit comfort during the humid summer that there will be ample accommoda- One reason for the reported change in of Cattle Reserve we are only some days and if desired may have their tion for the executive in the new the United States' plane selling policy
rooling drink in $90,000.00 short of the book value of morning coffee or, a
is believed to be due to reports reach- in building. herd; nevertheless in order to a pleasant atmosphere in the one I should like to testify to the close ing Washington regarding the produc- Rafeguard the position, having regard building.
co-operation which exists between tion of German planes.
In some official quarters the Gler- to the further purchases of Cattle this That, Ladies & Gentlemen, is a the Directors and the Management. year, your Directors have deemed It resume of our activities throughout To my mind as long as this factor can man production is said to be 3,000 be counted upon we need have no monthly with a prediction of a rapid advisable to place a further $50,000.00 the year. to credit of Caille Reserve..
fears about the future of the Com- increase to 6,000 monthly.
While some experts consider these With the increase in the herd it was Turning now to the Balance Sheet Pany. On your behalf I offer our teccssary during the year to provide more accommodation which expendi-you will find the following lems of congratulations to the Board, the figures ludicrously high, the reports ja accounted for under the expenditure:-Buildings & Property Management and the Staff for such appear to be stimulating the United
handsome
result of the past year's States. to ensure that America shall additions to Building and
$73.307.54. Ice Plant & Machinery worlding and for the efforts being play a part in the building up of the Property. Pasteurisation
$193,450.03, Launches, Lighters & made to keep pace with the ever- Allies' air strength. Vehicles $11.203.34, Furniture & Fix-
growing demand of the public. 1 You will probably recall that in tures $4,103.72, total $284,224.23. April lust the
Pasteurization of Milk
From the Chair last year.
The retiring directors, the Hon. was enforced by Government order
Wilkinson were re-elected and the and now the observation of bacterent taled that it was not likely that Mr. S. H. Dodwell and Mr. H. V. Capital Expenditure would exceed
ture
Balance Sheet Analysed
It was
standards in both raw and pasteurized $220,000.00 but this estimate did not retiring auditors Messrs. Percy Smith, milic is necessary. We congratulate the Authorities on this step which is include the Green Spot, Popsicle & Seth and Fleming were remppointed.
Fudzicie, equipment or tho
Rir
for the general good. of the dairy conditioning plant recently installed Industry in the Colony and there is
Dominions Pilots In Sylt Raid
ample evidence in other parts of the East Poty & Ice Cream Building at PRISON FOR BAG Alr Ministry reveals that 20 pilots
world that increased consumption per
the
East
Point.
The Depreciation writion
off
SNATCHING
SPECIAL TO THE "TELEGRAPH LONDON, Mar. 26 (UP)-Tho
from the Dominions participated in the great raid on the Nazl base at capita invariably follows the tighten amounting as it does to $220.023.23
Sylt last week. ing of legislation,
Fourteen leading and second pilots Imay that we have had no dir-Includes a full year's depreciation on
Mrs., D. Campbell, 24 MacDonnell came from the Canadian Air Force, faulty whatsoever in complying with the assets which have been installed the regulations, a fact which reflects throughout the year and is considered Road, appeared as complainant be- while sever each were members of foro Mr. Edwards at Central Magls- the Royal Australian. Air Force and great credit on your Farm and Dalry by your Directors to be adequate.--
It has been considered desirable to imey this morning when Chan Pang, the Royal New Zealand Air Force. Staring the year we were honoured when His Excellency The Governor. 10.000.00 has been charged against day.
& Doubtful Debts and the sum
say
further increase the Reserve for Dad 20, was charged with the larceny of
of her handbag at Battery Path yester, Lady Northcoto and party visited the dairy and ice making plants,
Proft & Loss Account for this pur- a lot pose.
الم
Gallantry Award
LONDON, Mar. 20, (British Wire- less). Squadron Leader Turner, one of two officers awarded D.F.C.
The
tions,
born at. Honeau in
He pleaded guilty and was sen- A "gazette" notice states that
Chan snatched the bag but fell I am afraid I have had rather a
On the other side of the Pront & when attempting to get away by for gallantry during the Sylt opern- to say.regarding the dairy side of the
Dominica business but this being the oldest Loss Account credit has been taken jumping over a railing. branch of our activiiles it is generally for an amount of $0,038.22. This re- In the minds of your presents the profit resulting from the Directors
sole of those shares of the New Issue The results in the Imported Dairy not taken up. and Frozen Foods Department con- **** Mora Capital Issuad
1
displayed great determination, fenced. to three months hard labour Turner
enemy and ordered to be sent away from and ability in attacking. Hongkong. Defendant was also told hangars in spite of heavy small arm that if he wished to return to Hong- and heavy artillery fire which sur Unue to be satisfactory, although re- At a Special Meeting which follow-kong- within Ave yours, special pér-rounded hin aircraft, and he calmly
and accurately completed his task. turns from the shipping side of these l'ed the General Meeting last year, the minion would have to be obtained.
+
Moreover hanging over the market was the spectre of a further regula- tion affecting sterling and other? currencies which, it is felt, will cur tall the demand for tree sterling.
Meanwhile, fresh news of tho tightening of sterling control came from Sweden to-day, and there were also many rumours of pending mea- aures by other countries.
The franc and other sterling cur- rencies abruptly declined while Canadian dollars were easy, though it was pointed out that their move- ment was more or less independent.
CHILDREN WHO
WON'T EAT There's nothing so wearing for.
a mother as a child who won't. dat well. Usually such a child is the "nervy highly-strung typo. He picks at his food, looks pale and loses weight,
-Coaxing won't improve matters. Child specialists everywhere re- commend Horlicks for theso "nervy children with faded ap- pelites, depend yet gen
The reason is that Horlicks not only' builds bone and muscle, but it stimulates their appetites for the foods they neod. In ‘a ti remarkably short time they get strong, healthy,, full of life and "go." And children love the taste of Horlicks: Get Horlicks-to-day.
二
thanks to
BLACK POLISH
Polishes, Protects.
· and Preserves. brazzer
bro
They're well worn
but they've
Antall work well
KIWI
TÄN POLISHES
//White ClaiÐA? and. Shoë! Cresmi