1921-01-28 — Page 10

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COMPANY REPORTS.

THE HONGKONG AND KOWLOON WHARF AND GODOWN

OO., LTD,

The report for presentation to shareholders at the thirty-fourth ordinary annual meeting to be held at the office of Messrs. Jardine, Matheson and Co., Ltd, on Friday, February 4, 1921, at noon, is as follows:-

The Directors beg to submit to shareholders their report with a statement of accounts for the year ended December 31, 1920.

The profit on working was $961,619.96 as compared with $998,120.00 fu 1910.

.

..

The nett profit for the year after deducting directors' and Auditors' fees, and paying for repairs is $864,631.71. The amount brought forward Last year to $186,906.23 making a total of $1,051,537,94 available for appropriation.

The directors recommend the following-

To pay a dividend of $6 per share.....

גו

bonus of $2.50 per share.......

write off Launches ...................

Lighters.......

Machinery and Plant

.$. 480,000.00 200,000.00 5,000.00 9,450,00 4,832,00

67,089.64

Railways and Rolling Stock

10,000.00

25,000.00

250,167.30

$1,051,537.94

Kowloon Wharves

Buildings ....

carry forward to new account

DIRECTORS.

The directors have to record with much regret the death of Mr. D. K. Moss. The vacancy was filled by Mr. D. M. Grahamn.

During the year Messrs. J. W. C. Bonnar, S. H. Dodwell and C. S. Gubbay resigned and their places were taken by Messrs. A. O. Lang, G. M. Dodwell, and A. S. Gubbay.

Hon, Mr. E. V. D. Parr and Mr. A. H. Compton retire according to the Articles of Association and being cligible offer themselves for re-election. -

**AUDITORS."

Messrs. F. Maitland and H. Fercy Smith, F.C.A., have audited the accounts now presented and offer themselves for reelection.

*

Hongkong, January 18, 1921.

JOHN JOHNSTONE,

Chairman.

BALANCE SHEET, DECEMBER 31, 1920.

"LIABILITIES.

To Capital, as per last account ....

Equalisation of Dividend Fund........ Sundry creditors

Unclaimed dividends .............

European Employees Provident Fund .........

Balance of Profit and Loss account

Brought forward-from 1919

Nett Proft for 1920

By Kowloon Land.

ASSETS

Kowlcon Buildings as per last a/c.... Less written off last year......

Since expended

By Railways and Rolling Stock at Kowloon as

per last a/c...

$ 186,906.23 864,631.71

THE CHINA MAIL.

ACCOUNTS.

The Prent for the year after deducting all expenses amounts to $643,749.10 which your Directors propose to deal with as follows***. To pay a dividend of 6% on the paid up Capital absorbing.....$120,000,00

..pay a bonus of 2% on the paid up Capital absorbing

pay a bonus to Directors, Holders and Founder's Shares

and Staff

write off Organization Expenses, (Shanghai Branch)

↓

"

write off Bank Premises Account ..........

transfer to the Staff Provident Fund.......

Transfer to Reserve Fund

carry forward

DIRECTORS.

40,000.00

77.703.69

In accordance with the "Articles of Association Messrs. Fung Ping Shan, P. K. Kwok and Ng Chang Lok now retire, but being eligible, offer themselves. for re-election.

AUDITORS.

The Accounts have been audited by Messrs. Percy Smith. Seth and Fleming, who retirë, bat being eligible, offer themselves for re-election.

PONG WAI TING, Chairman.

Hongkong, January 15, 1921-

BALANCE SHEET AT DECEMBER 31, 1920.

LIABILITIES.

Capital:-20,000 shares of $300 each fully paid ............. Reserve Fund................

Current Deposits ....

Fixed Deposits

Savings Account

Agencies

Exchange Transactions Outstanding

Liabilities on account of customers as per contra Frofit and Loss Account + +++++**

Total

$4,000,000.00 Cash in Hand and at Bankers....

150,000.00 Loans Receivable

$2,988,313.43 3,132,057.60 212,262.28

BOLSHEVIK, RUSSIA.

ENGLISHWOMAN'S VIJFT.

BUSTS OF LENIN AND TROTSKY.

7.525.73 The Times is printing a series of 30,000.00 articles from a lady who made, a 2,554.36 povel expedition to Russia. The 300,000.00 lady's name is Mrs. Sheridan. She 65,665.32 is the only daughter of Mr. Moreton Frewen (who at one time sat in the

for an $643,749,10 Unionist interest

Irish constituency), and is the widow of Captain Wilfred Sheridan, who was | killed in the war. What makes her visit to Russia more piquant is that she is a first cousin of Mr. Winston Churchill, who is in the babit of describing the », men in power at Moscow as ravening, monsters revelling in a diet of human blood. Yet. Mrs. Sheridan went to Moscow and came back safely, and is now occupied in telling the Times all about it. She left England in com pany with Mr. Kameneff, the Russian emissary, who was charged by Mr. Lloyd George with "breaking his promises and Being guilty of all of duplicity. But Mrs. Sheridan appears to bave trusted him, and she was so far justified that she got back to England safely, 6,332,60

les mission was, of all things, that of 836,103.16 making busts of Lenin, Trotsky, Zino- 274,909.85

vieff, and Dzherfinsky, all Bolshevik 482,125.89 leaders, and, to judge by the illustra $13,749.10 tions given, the busts are excellent pieces of work. To look at these $10,769,521.31 striking faces, it would certainly not

$2,000.000.00 200,000.00

KAN TONG FO.

Chief Manager. NG. KA KUEN,

for Chief Accountant,

ASSETS.

manner

be imagined that they were represen. tations of murderers whose bands are red with the blood of thousands of innocent men and women, as they are described in a passionate protest by Mr. Georgina H. Pollock against Mrs. Sheridan's visit. As to Bol- ...$ 2,050,420 87 | shevism, Mrs. Sheridan says she is 1,967,300.56 too bumble to pretend she under 807,592.12 stands anything about it. She be 539,005 22 lleves it bas something to do with 490,138 88 economics, and she cannot understand 3,631,362.58 political economy now any more 749,911.90 than she could understand arithmetic 24,948.72 when she was a child. On the sub- 22,819.28 ject of Bolshevism and art, however, 3,894.99 she makes some interesting remarks, #482,125.89 There is a better collection of modern French pictures in Moscow than in. $10,769,521,31 any gallery in France, and it is open

495,571.35 Current Accounts overdrawn against Guarantee and Security

2,365,64 Bullion in stock and in Transmission...ngukivuot 105,017.68 Bank Premises fra må im arrangi

AgenciesTIVIRAL MU

Eills Receivable

Payments in advance including rent and telegraph deposit

· 1,051,537.94) Furniture and Fittings ....................

Stationery $5,804,492.61 Acceptances on account of Customers as per contra

Total.................

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDING' DECEMBER 31 1920. DEBIT.

To Salaries. Rent, Taxes, Charges, Depreciation of Furniture

and Fixture, remuneration to Directors, etc. Balance.....

Total...

CREDIT.

By Balance brought forward..............

Interest, Exchange, etc.

Total...

PONG WAI TING,

to the public several days a week. "The gallery." she says, "was full of proletarlat visitors, and I wondered very much what they thought. We drifted into some art schools, where soldiers and sailors were working $174,716,26 from life models, and the work they 643,749.10 were doing was extremely good,、、 The exhibitions of proletarian ärt

MOK CHING KONG, Directors. LI KOON CHUN

We beg to report that we have audited the foregoing Balance sheet at December 31, 1920, with the books and vouchers in Hongkong and with returns from the Shanghai Branch and the various agencies.

$1,347,870.88

2,175,090.33

25,000.00 ||

2,150,090,33

Since 'expended mustar

165,529.67

2,315,720.00

By Wharves at Kowloon as per last a/c..

Less written off last year va

564,077.00 64,077.00

500,000,00 77,088.64

577,088,64

Less written off last year memperaganes

32,000.00 12.000.00

20,000.00

Launches as per last a/c...BESPIST,

Less written off last year....

Lighters as per last a/c........

,35,000.00 8,000.00

57,CC0.00

27,000.00

Less written off last year..not make a

27,000.00

30,000.00

Less sale of oid lighters....

**550 00

By Machinery and. Plant

per last

a/c

34,720.00. 14,720.00

20,000.00

PERCY SMITH, SETH & FLEMING,

Auditors.

168.00

19,832.00 263,143 88

Hongkong, Jacuary 15, 1921.

3,000.co 2,000.00°/

„Sunday debtora

By Loan's repayable

*$1,000.00. 254,961 31 450,000.00

Fund) at ccst...

38,318.75

Straits Settlements War Loan Bonds' (part of Provident

Fund) at cost.................................

9,876.54

5% War Loan Bends 1929/47 (part of Provident Fund)

at costco

*$1.019.77

Hongkong and Shanghai Banking Corporation ................

58,732.95

7,136.06

22,739.82

Less written off last year...........

Less sale of old gear...

.. Landard Buildings at West Point

"By West Point Wharf as per last-

Less written off last year.

Government 53% Exchequer, Bonds part of Provident

value of Coal on hand'

value of Stores on hand..

amount invested or Mortgage

6 Shares, Union Ins. Society of Canton, Ld. at cost,

DEBIT.

PROFIT AND LOSS ACCOUNT.

FOR THE YEAR ENDED DECEMBER 31, 1920.

To Repairs ..................

To Directors' and Auditors' fees. ******

To Nett Profit for

1.920......i

..$

114,597.70

11,000,00

*864,631 71

990,229.41

C. P. CHATER, -}

JOHN JOHNSTONE Directors

* CREDIT: By Nett earnings for

1920...

By Interest

We have received all the information and explanations we have requir ed and certify that in our opinion, the foregoing balance sheet is properly 29,450.00 drawn up so as to exhibit a true and correct view of the state of the Com- pany's affairs at December 31, 1920, according to the best of our in- formation and the explanations given to us and as shown by the books of the Company?

$10,000.00 603.01

› $5,804,492,61

961,619.96 28,609.45

- 818,465.36 are very interesting and deeply imbued with the modern movement. There are crude drawings that show 5,724.64 an appreciation of form, and there is 812,740.72 sculpture' in wood that is often very effective and may lead to something "818,465,36 good, .. Coming back from our wanderings we passed, in "one of the squares, a statue of Gogol, the Russian writer. I thought it a very fine piece of work. Gogol, balf wrapped in a cloak, looks down scrutinisingly bronze from his rough granite seat, and Andrev (her Bolshevik conductor) laughed at me for liking it, and said, in Moscow it was scorned and had brought coals of fire down on the artist's head. I was very surprised, and thought to myself the standard of Russiah art must be very high; but, in spite of this ridicule, I stuck to my opinion. I even said that in London we had not a single statue as good as that one. Later he admitted that he was, the author of it. The statues erected by the Bolsheviks are many of them very fine. There is one of Dostojevski, a beautiful plece of work carved out of granite." It is unnecessary to say that a love for art does not necessarily 7,787, 6. 9 £86,295.14. 1 exclude a tendency to cruelty, but at 7.116.0.3 least Mrs. Sheridan's testimony goes to support the evidence' previously £93411,14 4 given that all the tremendous occur. rences of the last year of two have not involved the art treasures of €2,187.10. 0 Petrograd or Moscow in destruction.!

Yet the destruction of art treasures · €31,224. 4. 4 was repeatedly affirmed in the pro- paganda printed in England and France during the earlier days of Soviet rule. Evidently the Bolsheviks are unlike the Puritana of the Eng. lish Commonwealth, who destroyed so much that was beautiful in Eng+1 lish architecture. Whether that is or is not a saying grace must be a mat ter of opinion-Japan Chronicle...

HONGKONG TRAMWAY CO, LTD:

The Summary of the a/cs for 1920 is as follows

The result of the year's working, subject to audit, is as follows:- Gross Profit (after charging depreciation)....£ 94,083. 0.10

Less Loan Interest ..

Brought forward from 1919.

Less

Contingent Liability a/c

Interim dividend of 9d per share

£50,000, 0.0 12.187.10. 0

Balance

The Directors now recommend a final dividend of 1s., 3d per share, amounting to £20,312.10, 0 (to be payable in April next at exchange of 33. 2d-39.47 cents per share) leaving £10,911,14, 4 to be carried forward. January 27, 1921.

THE CHILDREN MOVE THE

WORLD FORWARD...

The world's destiny is in the hands of the children the character of that destiny, depends upon the character of the children; and the character of the children, depends upon the method of

990,229:41 their upbringing.

W. S. Brown, Secretary,

1

It is not enough to teach our own children only. Thousands of other children, scattered over the Mother

know that you will help the little

ones,

We cannot turn a deaf ear to such plea from the Motherland."

Dr. Barnardo's Homes, who are past-masters in dealing with boys and their changed lot. Most of the boys girls, having rescued 90, 187 children, and girls are brought up in Model aver that heredity is nothing; it is Villages and have a healthy home-life environment which counts.

There are to-day 7,318 boys and girls and babies under the care of the Homes.

atmosphere.

10,715 Barnardo lads fought for us. on land and sea and in the air in the Great War, and hundreds made the supreme sacrifice.

They are being brought up and

300 Barnardo boys are always 'in We centily that we have obtained all the information and explanations landchildren of the slums and the trained in a proper environment: the we have required, and, in our opinion, the above sheet is properly drawn highways, the starving, the suffering, babies' lives are a round of phy training for the Navy and Merchant the destiture are not merely ignor kindergarten, exercises, proper, feed-Service. A wise lesson learned from. up, so as to exhibit a true and correct view of the state of the Company's ant of their part in the world's weling and sleep; and the pictures of the the War is that British ships should anairs according to the best of our information and the explanations given to us, and as shown by the books of the Company. We have seen all the fare but are actually imbibing day by merry children's faces in the booklet be manned by British lads.

day what tends rather towards its which accompanied Mr. Baker's let Securities.

}

་་

FRIDAY, JANUARY 28, 192L

NOTICES..

Quality.

With LEA & PERRINS' SAUCE, a few drops sprinkled over the meat, fish or cheese, &c., are all that is required to impart the most delicious piquancy and flavour,

The QUALITY and concentration of its ingredients make a little of this sauce go

long way.

Lea Perrins

The Original and Channing

WORCESTERSHIRE.

HOLLOWAY'S

World Renowned

LONDON

Dry London Gin.

HOLLOWAYS

LONDON EIN

GIN.

Matured Sweet London Gin.

NOON GIN

Matured and Aged in Wood.

St. Pancras Gin Refinery Co.,

258, HIGH HOLBORN,

LONDON, ENGLAND.

Several valuable territories open to Agents,

Particulars on application.

AUSTRALIAN

ZINC

"Confidence in materials we she is only a šitéda dosa temporlant ta the building up of industries than confidence in the men w musiche, with"

Purity Percentages

99,9%- -9875%-

-90%

210

The high standard of purity maintained in the products of the Zinc Producers of Australia always justifies the confidence. users put in it. Australian Zinc acts and re-acts with certainty. The Association is prepared to supply the following:-

Electrolytic Zinc (A-2) Brand

Containing about 99.95 « Metalle Zine 1999% guaranteed)·

Spelter BHAS

Brand'

Containing about $8.75% Metallo Zinc

High-Grade Zinc Dust

Contafolie about 90 Metallic Zinc

Zinc Concentrates

Variood Gradea

The Sofa Selling Organisation for the chave Australian production ti

Zinc Producers' Association Proprietary Ltti. Collios House, 360 Collins Street, Melbourne, Australia

Landon Address—Finers fell 'Aude Triors, Lander, &C. 2

RexineTM

LEATHERCLOTH

Cable Addresses-Zucdum Melbourne

Paystreak, London

For want of a better description "Rexine" is termed a substitute for leather.

....

It is more than that. It has all the appearance of leather but it is better

e large family--the largest in the

in every way: wears better and is im«. pervious jo stains or grease.

world is enormous. In these "days

But boys and girls cannot be fed ruin. For their own sake, for the ter, speak-eloquently of the joy of on air. The Food Bill alone for such Nation's sake, they must be rescued

F. MAITLAND.

H. PERCY SMITH; F.C.A.

Auditore.

and rightly taught,

Hongkong January 18, 1921.

We have just received a letter from

THE BANK or EAST ASIA, LTD,

STRAIGHT AT IT

of high prices it is nearly three times. the to Mr. William Baker, the HERE is no use of our beating as big as in 1913.

around the boah." We might sa Never before have the Homes need- Honorary Director of Dr. Barnardo's well out with it Brat as last. We wanted so urgently the support of those Homes, his last appeal on behalf of you to try Chamberlain's Conph Hemedy the world over who think of the wel The report of the Directors to be presented at the second ordinary the children, written just before his the next time you have a cough or cold. fare and happiness of little children. yearly meeting of the Company to be held at the Company's Registered death, in which he pleads the child-There is no reason so far sa we can sou Office, No. 2, Queen's Road Central on Wednesday, February 2, 1921, is ren's cause and asks that every child you should not do so. This pro **B. Yollows:-

born into the world be given a fair paration by its remarkable curoa has gained a world-wide reputation, and

Donations may be sent to

For the upholstering of furniture, motor cars, ste for the show and slipper wades; for bookbinding and for bags, aliache casas, and the fancy goode trade it is unequaled. Rexibe Brand Leather clock has stood the test of time and in in

a al oer tha sporld.

the

REXINK

Honorary Treasurer of the Homes, 18-26, Stepney Causeway; London, The Directors have pleasure in submitting the profit and loss account chance that they may in the near poople everywhare spos of it in the E. 1, and cheques, orders and drafts for the year ending December 31).1920, together with the balance sheet future help to move the world forward his best terms of praise. It is for sale by should be made payable to Dr.

and upward. His last words are: "{{ all Chemists and Storekeepers.

Barnardo's Homes" and crossed. et that date.

Agenta

LID, Hyde, Manchester, England.

Probet, Hanbury & Co, Ltd., Shanghai. A. "Twyford & Co. Tientain,

Forbes & Poklog.