1922-02-04 — Page 9

SATURDAY, FEBRUARY 4, 1922,

COMPANY MEETING.

HUMPHREYS ESTATE AND

FINANCE CO., LTD.'

The annual general meeting of Humphreys Estate and Finance Co., Ltd., was held at the Houghing Hotel at 11.30 this morning, Al-. I. Humphreys presided and there were present Rev. Ft. . Robert, Messrs. J. Scott Hurston, A. O.. Lang, W. L. Pattenden, J. M. Alves (Diretora) G. Rapp (Secretary) Messrs. F. W Stapleton, M S. Northcote, F. M. Ellis, J. H: Sith H. Percy Smith, W. Morley, Fernandez, A. P. tamy. D. E. Clark, J. D. Humphreys,

The Chainman Gentlemen, as it is past the hour for which this meeting is called 1 will ast: the Secretary to read the notice convening the meet ing.

The notice having een read, the Chairman said:----

Gentlenen, with your permission will adopt the usual procedure and take the report, statement of accounts and nilitis report as read...

The accounts before you though hat quite a record are the best for the "past twenty years but you will doubt- less observe that the profits or pro perty sales amount to rather more

Chan pan half of the revenue derived

from rent.

such provision necessary inasmuch as we may have to renovate, externally, two or three blocks of flats, in the course of one year. The colourwashing ord painting externally of several large blocks of flats cannot be regarded in the nature of ordinary repairs.

statement

Trow beg to propose the adoption; of the report and

of accounts and after they have been duly seconded I will answer any questions shareholders may have to ask to the best of my ability.

Mr. M. S. Nortbecte: Mr. Chairman, have much pleasure in secunding the adoption of the report and accounts as presented, and I think that shareholders will agree with me when I describe them as entirely antifactory, showing, as they do the Fast result for the past twenty years in the history of the Company.

An examination of the balance slicets of the Company for the last five years reveals a steady improve 1ment Tr its dividend earning capacity, which is, when all is said, what the ordinary vester looks for, better and better dividende each succeeding year.

.

In 1917 the dividend was at the rate of 5 per cent on the capital in 1918 and 1919 this rose to 6 per cent. while in 1920 it rose to 8 per cent the same rate being maintained for 1921 with an additional 2 per cent. by way of bonus.

There has been a considerable paving under the heading of interest and repairs and the Amount owing to

Admitting that these vaults have sundry, creditors is $79.456.21 less I bet materially assisted by profits do not think there is anything else in derived from sales of property, yet, the accounts which calls for special if we eliminate this source of mention but perhaps you may be revenue, a source which interested to know what we have accomplished during the year under review in the way of new buildings, We completed 18 late on Hanoi Road, owloon January, 1921 and G flats on 3lay Road last September. We have still under construction 12 fats on May Road and i terraes houses and 12 flats in Kowloon. The former -hould be ready for occupation about the end of April and the latter in May -and July respectively.

of property are not brought about without much care and thought, and for the successful carrying through of this class of business we are entirely indebted to the able management of our Managing Directors, whe should receive adqenate remuno ation therefor at our hands.

THE CHINA MAIL.

TITLED "BAGWOMAN,"

LADY MARJORIE DALRYMPLE.

Lady Marjorie Dalrymple, a sister of the Earl of Stair. has returned to England after a trip to the United States in connection with a new busi- ness project.

SHIPPING

NEW YORK CONFERENCE..

OLDEST LONDON LINKS LATEST SHIPPING NEWS.

FINDS BEHIND A CITY, HOARDING.

A New York telegram arriving at

„Behind o hoarding in Fetter lanel Kobs on Jan. 17 reports the revival of t'e New York Shippir off Tlect street is, an archalogica Conference which had abandoned its In this connection I desire to draw

She has started a concern called the freight agreement and pone in for free lucky dip." It a vacant plot of your attention to two items on the debit side of Profit and Loss % vix Moorland Suede Co. with Miss R. competition between many companies, ground which to being excovated to a Allowance to General Managers to Broughton as managing director. In The primary reseen for the restore depth of 12ft. by a mining engineer, cover office rent, salaries of Secretary July last both women left England to tion of the Conference is that having Mr. H. S. Gordon, in his spare time and clerks which is put down at try to induce the big United States realised the fact that to maintain anand week by week he is adding to his $8,000. This allowance is I understores to give oiders for their good. unreasonable freight competition is relies of Roman, and medieval Lun.

Lady Marjorie got the idea of beneficial only to consignors and not don, stand, the figure at which it was fixed when the capital of the Company was developing suede as a useful article for in the least to shipping companies. increased so far back as 1903 and is clothing from her war-time work in owing to the small movement of car- so provided for in the Articles of connection with the manufacture of gees, the powerful British companies

temporary artificial limbs for soldiers, who were taking the lead in free cum Association.

for which the material was largely petition have suddenly changed their

and used. She and Miss Broughton have attitude advocated the designed and manufactured suede rehabilitation of the former Con skirts, hats, gloves, and coats with ference. The restored Conference has considerable success.

enlisted as Japanese members the N Y.K.. O.S.K., Kokusai Kisen Kaison and Kawasaki Kisen Kaisha, and includes in its sphere a vast area rang suggestioning from the castern coasts with New the Board York as its centre and the Gulf of

Another relic is a mussel shell with. at the next meeting and what Mexico to Japan, Chins, Philippines, paint in it, evidently for the use of an the Directors

to do and Singapore via Panama Cansi. Inarist. This dates back to mediaval

་་

Conditions have great changed since those days. The clerical work of the staff has probably more than doubled, rents and the cost of living have increased considerably, uccessita- ting a corresponding increase in salaries to staff etc. I therefore venture to submit that the allowance as now provided is insufficient and should be increased to a minimum of $10,000.

The other item to which I wish to draw your attention is the remunera tion to General Managers.

more difficult

still increasing. Your will be put before

dicide

if they decide to do anything will consequence, a general increase of

As already reported, a beautifu! Greek brooch of finely worked gold, which may be the key to the knowledge of an unknown Greek civilisation in England before the Roman cccupation, has been found in the pit, Many other discoveries, while of less historical valuepare of great interest. One of the most unusual is Ronian brick which bears the print ofthe paws of an animal which must have walked across it while the clay was still wet.

be submitted to shareholders at an. freights is expected. Iron from New days and it is interesting to note that This is perhaps a

extraordinary meeting which will be York to Japan, for instance, which is gold paint is still sold by artist's subsequently convened. -.-

now $10, will be increased probably matter to deal with, since au7

The accounts have been proposed by $3, says the Japan Chronicle. : material increase berein might possibby myself and seconded by Mr. ty affect the dividend earning poten- Northcote. Now is the time for any fialitics of the Company, however we shareholder to ask any questions it must not lose sight of the fact that it he wishes to do so. There being is to their able management and

no questions, all three in favour of

and the horse-power €55,917.

GENERAL NOTÈS..

During last year 314 vessels have brain we owe the success of the Com- the accounts being passed kindly been launched at the Clyde ship- pany and I hope you will agree with hold up their hands. Against? Car- building yards, aggregating 514,549 cannot me in thinking that their remuneraried unanimously. The next thing tons, while the machinery built was annually be relied upon, we tion as at present provided 5% on before the meeting is the re-election equal to 308,791 horsepower. The still find steady improvement since the net profits is nowadays somewhat of directors, for the ensuing year. I previous year the tonnage was 569,060 without this assistence the Company's inadequate and should be increased brg to propose that Mr. J. Scott net revenue has annually increased, at any rate at such times as the set Harston, Mr. W. L. Pattenden, Rev. the net profit exclusive of tales and profits exceed say 10% of the Capital. Fr. Robert, Hon. Mr. 4. O, Laug and without deduction of the amount: If you are in accord with me in Mr. J. M. Alves be re-elected Directors

Homeward bound from Bombay shown for General Managers fees these matters I think wo may leave for the ensuing year.

the P. and O. liner Macedonia," of which would of course without this it to the Board of Directors to Mr. D. E. Clark.” I beg to second,10,512 tons, built in 1904, which was. source, have been much less works out"

The motion was then pat and at the battle of the Falkland Island as for 1917 and 1918 at slightly over 43%

an armed cruiser, sailed from Gibral improving in 1919 to 61% in 1920 to

Mr. Morley proposed that Mestre, tar to Plymouth, a distance of 1,066 something over 6% and in 1921 to

H.. Percy Smith and Bernard nautical miles, in 2 days 17 hours. just 1%, progress which cannot but

Brown be re-elected auditors at u be pleasant to shareholders.

remuneration of $250 tách.”

Mr. F. W. Stapleton seconded and the motion was carried.

1 trust shareholdere will approve of the proposed trausters. to Reserve Fund and Special Repairs and Well. Gentlemen, dividends do not Renewals Account. As regards the grow of themselves, they have to be Hormer some such provision is earned and are so carned only by the

undoubtedly advisable if our position is to be maintained in the future. As regards the latter, the largely increased number of our flats, renders souie

constant care for our interests of our Managing Directors and Directors assisted by the willing and unthing labour of the staff they employ. Salee

BARRIVALS.

Unda, (A.P.C.) from Singapore.. Junk Bay.

Buera Singapore.-B.51.

Sheafdaft, (Dodwell & Co} from

Yods Maru, (M.B.K.) from Keelung Vanchal

Anshiu Maru, (Kimura & Co.) from Keelung-Wonchai.

Choulon Maru (Nauyo Yusen Kaha) from Macassar-B7

CLEARANCES.

Fyrrhus. (B. & S.) for Yokohoma vis Shanghai. Feb. 3.

Unda, (A.R.C.) for Shanghai- F.b. 3.

Pin Samud, (Kung Ngan Seng.) for Bangkok, via Swatow-Feb.

Cheulm Maru (Nanyo Y. K.) for Kobe, via Moji.—Feb. 1.

Bentochr, (Gibb Livingston & Co.) for Yokohama, via Shanghai.-Feb. 4,

GENERAL ITEMS..

A woman who has not been knows to speak for years was remanded on a charge of wandering at Weston-super- Mars,

colourmen in mussel shells.

The handle of a medieval hand-bag, carited probably by a modish person many hundreds of years ago; a large lump of cobalt blue enamel bearing Brussels school children now attend the impress of two seals, which was certain lessons at the Central Kinerea probably used by monks for enamel Hall. A teacher explains and lectures lng work; and a clay tile with the on selected films. An excllent Tudor Jose upon it bave also been feature is that the lecturer can stop the "movie" at-will which enables him to point out any special points The Brussel's public schools already have. 50,000 yards of films. It is haped soon that a kinema ball may be added to each public school.

found.

and Y10 upon matches. To cope with this challenge, the NY.K. is discussing measures to be taken...

Details of the terms of settlement in Italy of the estate of Mr. Caruso,

The New York steamship line, be hunder which half goes to the late outward and bomeward, is enjoying tenor's daughter and the other half very good shipments, in contrast to equally divided between the widow the idleness of the Paciâc ronte. Botli and Mr. Caruso's relations, have been. the N.Y.K and O.S.K. liners are filed in the Surrogate Court New The secession of the NY.K. and packed almost full. The outward run York. The widow has requested the Java-China-Japan Lane from the obta us mainly cercals, seeds, ancillary letters of administration to Java Freight Conference has created cowhides, etc., while the freights take over the £40,000 assets in New This concluded the business, the severe freight war in the Java shipping obtainable for the homeward service York. Later the tenor's wife will Chairman announcing that dividend line. A certain company has been ara construction materials, iron, etc. apply for ancillary letter: authorising warrarts would be ready on Monday absorbing shipments of drygoods at Some unsubsidised shipowners are the collection of phonograph royalties, and could be had on application at Y10 and matches at Y8, when the already arranging to run their ships which are said to total over £50,000 the office.

N.Y.K charges Y12 npon drygoods on the same line.

yearly

formulate an amended scale in both instances and to draw up the neces-earried. sary alterations to the Articles of Association required to deal therewith.

It now merely remains for me to second the Chairman's proposal.

That the report and accounts as presented be adopted and passed.

The Chairman-thank you for your kind words. The only thing can think of which you have omitted to mention is that the work in recent years has very much increased and is

I

a

CREAT BARGAIN WEEK

AT

WHITEAWAY'S GREAT STOCKTAKING SALE.

MONDAY, FEB. 6 TO SATURDAY, FEB. 11.

FURTHER REDUCTIONS IN ALL DEPARTMENTS.

$50,000 WORTH OF GOODS

GOODS

HUNDREDS OF BARGAINS AT

HUNDREDS OF BARGAINS AT QUARTER PRICE

SPECIAL

BARGAIN

TABLES

MUST BE CLEARED.

HALF PRICE

$10.00

at

$5.00

$2.50

DO NOT MISS THIS GOLDEN OPPORTUNITY TO SAVE MONEY.

WHITEAWAY'S THE STORE FOR VALUE. HONGKONG.