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APPENDIX “A.”
BRIEF REVIEW OF YOUR PETITIONER'S ORIGIN AND HISTORY.
1902
Named The Electric Traction Company of Hong Kong Powers Limited, your Petitioner, was originally incorporated in London Incorporation, on 20th November, 1902, for the purposes, inter alia, of con- Objects and structing and operating electric tramways in Hong Kong and Inception. undertaking the powers and carrying out the obligations devolving upon the Company by virtue of the Tramway Ordinance No. 10 of 1902 in the Ordinances of the Crown Colony of Hong Kong.
The Company was formed with a capital of £325,000 divided into 325,000 ordinary shares of £1 each.
1904 Commence- ment.
1910 Reduction of Capital.
ance
The projected Tramways as specified in the said Ordin- and in compliance therewith were duly laid down, constructed and set in working, opening for public traffic in the year 1904.
Such losses were incurred in the immediately succeeding years that, by necessary resolutions approved by Order of the Court on 13th December, 1910, it proved necessary to reduce the Company's capital to £81,250; fifteen shillings (15/-) of the paid-up value of its shares-to the extent of £243,750-being cancelled as lost.
The nominal capital of the Company then standing as at £81,250 in 325,000 shares of five shillings (5/-) each.
At the same time the Company's name was changed to The Hong Kong Tramway Company, Limited.
1912 First Dividend.
The first yield on their investment earned by your Petitioner's shareholders was a dividend of 44d. per share declared in 1913 in respect of the year 1912.
1922/3
On the 26th May, 1922, the present company, Hong Kong Incorporation Tramways Limited-formed for the purpose of acquiring the Transferred undertaking, all the assets and liabilities of The Hong Kong to Hong Kong. Tramway Co., Ltd., as a going concern was incorporated under the Companies Ordinances of Hong Kong with a capital of Hong Kong $1,625,000 divided into shares of the same number, 325,000, (of H.K.$5 each) as the original company, which then became the holding
company.
Upon a later distribution to its members of the said equivalent shares in the new company those same members-on liquidation of the old company-became the shareholders of the present Hong Kong Company, your Petitioner.
Such assignment and transfer of title and of the undertaking as a whole duly received the assent and approval of H. E. The Governor-in-Council- as required and provided in the terms of the governing Ordinance No. 10 of 1902 on 4th November, 1921.
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