1925-03-02 — Page 3

Page

MONDAY, MARCH 2, 1925.

JUNGENAUENDENDEKINI||||

FOR SALE..

SAMLI (Shanghai Fish)

Frozen by A. J. A. Ottosen's Improved Patented method which preserve its origins? flavour and qualities. Onun tartod always Appreciated. Flob Arm as fuch

To be obtained only from

KWONG LOONG, -

Compestore,

89, Des Voeux fond O. Tel. C. 1281 Soe agent for Bongkong for THE CHINA REFRIGERATING & INVESTMENT COMPANY, LTD.

and aleo--

from

THE DAIRY FARM ICH & COLD STORAGE CO, LTD.

JUST ARRIVED A FEW RUSSIAN DELICACIES

BLACK CAVIAR in tins

of 3 oz... $1.30

'RED CAVIAR in jar

of 14 02.... $125

SALTED HERRINGS

cach 115

BLACK OLIVES.... $0.80

THE FRENCH STORE No: 1, Beaconsfield Arcade. Tel. Central 791.

WANT ADVERTISEMENTS

25 WORDS 3 INSERTIONS, $1. PREPAID.

Every additiona); word i Conde

for 8 insertions.

TO LET

FOR SALE.

COLU

LUMBIA GRAMOPHONE FOR SALE Overhauled June. 50 records. $75. Please apply P. J. Griffiths, B. & S., Hongkong.

INTIMATIONS.

GREEN ISLAND CEMENT

'COMPANY, LIMITED.

.יו

THE CHINA MAIL.

HONGKONG'S TELEPHONES pursuing this course, the present

(Continued from page 4)

There are one or two other polats in your statement ladicating that we are not ad idem,, for Instance:

consideration

HIGH CLASS BOOTS AND SHOES

Mad to order. ROYAL & CO. No. 1, D'Agallar Street

ters of opinion, rarely do agree. But all the facts are there; it was only the opinions which could not be reconciled. You and I, follow- ing different methods, have found a way to peace, and, 1-hope, to the of ample telephone accommodation provision in the immediate future under local direction, and by the co-operation of capital from our Home country with local capital, for the rapidly growing needs of Hongkong and the New Territories in South China.

STEAM

1 Satisfaction

ensured

by our DRY CLEANING

DEPT.

'Phone

"K. 32.

LAUNDRY CO

HEAD OFFICE & WORKS: YAUMATI, Tel. K...31. HONGKONG DEFUT: 10 Stanley Street, Tel., O. 1979, KOWLOON HOTEL DEPO... KOWLOON DEPUT: 19 Canton Rosd, CANTON 19, Shirki Cantral, East. HONGKON HOTEL: (Visitors only), Write or Phose for complete Prica Lita

SHIKISHIMA SHOKAI GOD, PRAYA EAST (WANGHAI), TEA SETS. 42 PIECES,

From $16.00 ... From $ 7.00 COFFEE SETS, 12 PIECES,

Inspection Cordially Invitaă,

company might not be under the necessity of going into liquidation, but that should its. Directorate so decide it might continue in being (otherwise, of course, than opera tions in the Colony of Hongkong and territories in South China are In paragraph No. 1 you refer to concerned), substituting for. Its assets the holding of charges "on a message rate present basis, either on or before comple- shares in the new Hongkong tion of the proposed new plant and Company. extensions." The questions of I do not lose sight of the fact plant, extensions, rates, and so on, that this suggestion did not appeal TO LET-Two Godowns, or as I have emphasised several to you at the time I first mentioned shops, in DUDDELL STREET times in the course of our discus- it, but in the light of the present For Particulars apply to:-H. Rut-sions, must be dealt with entirely circumstances, I am inclined to tonjes & Son, 16, Queen's Road.

by the new Company unfettered look upon it as the logical one to Nevertheless, should it by any ideas preconceived either follow. by your company or by any other still not appeal to you I trust you FOR SALE.

person interested in this matter at will realise that in again submitting the moment, in which relation it, it I am merely actuated by a desire FOR SALE Eastman Graflex must be obvious that we cannot to do all I can to bring matters to Camera fitted with Aldis F.4-5 commit a local public utility com- a successful conclusion rather than Lens. Changing Box carrying 12 pany to any particular line. of that all our negotiations should Plates; also Film Roll Adaptar and policy at this juncture, our sole now prove abortive. It would be a 5 Plate Holders in good leather case. objective at this stage of the matter of some gratification to me Price new $250:00 Gold. Will sell at proceedings being the acquisition personally to see our discussions bargain Mex $150.00, Apply Mr. of the present undertaking con result in a settlement likely to inter alia, upor a redound to the credit of all parties Trail, Room F 2nd Floor, 34, Queen's ditional, Road. Corner of Wyndham Street. satisfactory understanding being and I know that you yourself would reached with the authorities on be none the less delighted at so

The second remark which I wish Telephone C, 4860,

the questions of the basis upon happy a result,

to make is that, in fairness to my which the new Company would be

In conclusion, I desire to avail colleague, Mr. Parker Ness, it must permitted to operate. Therefore myself of this opportunity of be remembered that in the year the actual formation of the local thanking you for the spirit of before his visit to Hongkong the Company is necessarily subject to courtesy that has throughout our Company had in fact only earned this contingency,

Degotiations.characterised the pre- a net credit balance of £3,251, on Then, again, paragraph No. 2sentation of your case and for the

revenue account, and were unable refers to a price to be paid for the tolerance you have evinced in all to pay any divided. This was whole of the shares in the existing our conversations by so patiently due to the combined effect of the company (39,761 shares of £ listening to the various angles of heavy increase in working ex each). I must again emphasize argument I have deemed it neces that it is not the intention of those sary to place before you, in which penses, a common feature through- out the world, and the depreciation interested in the formation of relation I wish to assure you that of sterling, in which currency the Hongkong Company to purchase should our united efforts result in Company's charges have, for some shares in the existing company: bringing matters to a successful

I wish in conclusion, to the figure I recommend as the issue and you enter into the new years, been collected. purchase consideration represents company on the lines I have had cordially reciprocate the counte- HE THIRTY-SIXTH ORDINARY the

in dellars the honour to submit to you, then TANNUAL MEETING OF THE ($1,400,000 of which will be you, need have no hesitation inous and pleasant acknowledg SHAREHOLDERS in the Company satisfied by the issue of shares in placing reliance on the whole- ments and good wishes which are will be held at the Offices of the the new Company) for the taking hearted co-operation of my col- expressed in your letter.

have, during these few weeks, had Company, St. George's Buildings, over of the business as a going leagues and myself in leaving no some hard tus les in our efforts on Chater Road, Hongkong, on TUES- concern, We propose to purchase stone unturned with a view to the behalf of the interests which we

promotion of the welfare of the new DAY, the 3rd March, 1923, at 11 the undertaking, not shares in the Company on lines beneficial to the in our negotiations there has never were each hound to safeguard, but o'clock in the forenoon for the Company. purpose of receiving a Statement of Turning to paragraph 5, this public and all others concerned..

been a single hasty word spoken Account and Report of the Directors raises a further question upon

which need" cause regret, to either for the year ending 31st December, which 1 am likewise precluded

of us. And I believe that we per cent. per annum but not more 1924, and declaring a dividend. from binding the new Company,

really have succeeded in reaching than 12 per cent., the benefit will arid whilst I have no reason to

Eir George Gibb then called a fair and just conclusion, mainly accrue to the company, but any doubt that the new Company

because we have both Frankly excess of profit above 12 per cent. would naturally avail itself of the upon Mr. Taggart and said he realised that we were dealing with services of the Oriental Telephone was prepared to agree to the the affairs of a public service is to be divided as to half to the company and half to be applied Company as its agents, neverthe alternative basis of settlement undertaking. loss this is a matter which cannot and would so confirm his decision safely be based on any founda (in some manner to be agreed be dealt with at this stage of the in writing. In the meantime, Mr. tion other than one which was upon) for the benefit of sub- negotiations.

Taggart handed to Sir George practicable and reasonable from scribers. The Company's maxi- If, after having given the above Gibb for his consideration the several points of view of the mum net divisible return, how proposal your careful considera- statement outlining suggestions general public, who are our cus ever, is to be 15 per cent. per to business at $1,265 cum div., Unions:-A fair number of ch, you are still unable to see for a draft conditional agree tomers; the investors who pro annum. It is reasonably expect are now wanted at $1,225 Ex div. your way clear to effecting an ment.

vide the capital, both existing anded that the rate of $108 will on the Srd February Sir future and the. Haes agreement on

Government, remain ip ferce for some time, shares changed hands at $257 to indicated, it occurs to me that a George Gibb expressed his ap- whose sanction is necessay, as and it would be the intention of $258 and more, could probably be

the new basis

company, to exercise placed at this price. of settlement whereby proval of the suggestions, for an the guardian of all interests con

every effort in an endeavour to

Canton and Hongkong Fires:- practically all the difficulties agreement, and handed to Mr. cerned, encountered in connection with Taggart the following letter:

improve the service without call-Are nominal at quotations.

Hotels-Show a slight decline » ing upon the subscribers for a.

but a fair number of shares have material increase in ratés. ment following the course

and Electric Co., Ltd.

The feeling of the meeting gen-changed hands at quotations. fear, Innline, Mathon & Co, lad, an have hitherto pursued, may

Hongkong, 3rd February, 1925.

Lands: After. Hongkong erally was that the above was No matter how badly you may TUESDAY, March 3rd, 1, AT NOON, for possibly be arrived at by adopting

the purpose of receiving the Resort of the the alternative method we tenta Dear Mr Taggart,

It was then arranged that the equitable and would be likely to be leasing off to $94, are steadier suffer from indigestion, dyspepsia, rector in the Statement of Accounts for thely discussed in an earlier part I have received your letter of gas, flatulence, or acidityno the year ended December 31st, 1924.

ly arrived at, and the scheme the Colony as it was to the Com- $97%, but at the close are slightly THE TRANSFER BOOKS of the Company of the negotiations. I refer to the the 2nd instant and I am obliged basis of agreement thus tentative as acceptable to the community of and have been done as high a

to you for "having replied so matter how many medicines youll be closed from FRIDAY, February 2011, suggestion that the proposed new

so fully to my ander which it was suggested that mittee of the Chamber of Com-easier with sellers at $96.

Humphreys: Are quiet with may have tried without success 19:5, a TUESDAY, March 3, 1925, BOTH company should take over the promptly ad

the new company should operate. merce then sitting

sellers at $20. don't give up hope. Thousands DAYS INCLUSIVE..

State of Plant. business of the existing company letter of the 30th January.

e be submitted for approval to the who once suffered as you now

Discussion ensued on the ques- as a going concern on the 1st July, Eyfer who had tried everything

1925. If that method we adopt

Government (with whom the

without obtaining relief-now

ed, I suggest that the definite

parties had been in close touch tion of the state of the plant, etc.,

enjoy perfect health, and can get

form which it should take should

throughout the negotiations) and of the present company, proposed

be as follows:- ',

the Committee of the Chamber of to be taken over by the Hong-

Consequently. Commerce. almost anything without the

kong company; and ultimately, on Sabject to the report of slightest pain or discomfort. You

the Hongkong 'Gov

the following resolution having

can do the same if you will go.

been duly proposed and seconded, ernment's representa to-day to any good chemist and

tive being satisfactory

it was unanimously, resolved by a package of Bisurated

to those proposing to

the Committee of the Chamber of get

Commerce and the members of Magnesin. Take as directed above NOTICE IS HEREBY GIVEN that the Thirty-Sixth Ordinary

form a local company, the value of the plant

the Telephone Committee:-- be taken as......... $ 1,155,000. Plus net additions made

THE AUCTIONEERING & BROKERING. CO., LTD. Eu, Duddell Street,

"FURNITURE AUCTIONS

every

TUESDAY and FRIDAY at 2:30 p.m.

L. E. S. HODGE, "Auction or

N

Dyspeptics Can Eat What

They Like

if they take half a teaspoonful of |

The TRANSFER BOOKS "of the Company will be clcued from WEDNESDAY the 18th February. 1925 until TUESDAY the 3rd March,

1925, both daya inclusive.

By Order of the Board of Directors,

SHEWAN, TOMES & CO.,

General Managers. Hongkong, 13th February, 1925.

THE HONGKONG & KOWLOON WHARF & GODOWN CO, LTD..

NOTICE TO SHAREHOLDERS.

now

I am, dear Sir George,

Yours sincerely, (signed). H. TAGGART.

A Reply.

Bisurated Magnesia in a littleHE THIRTY-EIGHTH ORDINARY our endeavours to effect an agree The China and Japan Telephone

water immediately after eating,

1

ANNUAL MEETING OF SHARE- HOLDERS wist te ll at the Oises or

By order of the Board of Directors,

F. H. CRAPNELL, Acting Secretary. Hongking, February 19th, 1985.

THE HONGKONG ELECTRIC

COMPANY, LIMITED. -

a

and you'll soon forget you ever General Meeting will be held at the had a stomach....you'll find your Company's Offices, 1, and O. Building, vital organs strengthened, while on SATURDAY, March 14, 1925, at 11 content and enjoyment' will fill.. for the purpose of prescuting the your life. But be quite sure you Report of the Directors together with yet the right thing for your pro- Statement of accounts to December 31; 1924, and electing Directors and tection the oval "BISMAG" trade

Auditor.. mark is prominently displayed on the wrapper, and you should look for it when buying.

The Sign of the Genvire

BISMAG

See it on every Package

LEE KEE

Agent for

HENRY RICHARD TILE CO'S

We have a largo stock of White Glazed Wall Tiles, Colour Glazed Wall Tiles, Ceramic ·Monnio Tiles, Geometrical Enonatio Floor Tilen, Tile Fire Gratos.

Inspection Invited.

Showroom : 21, Wellington St.

Tel. G. 1483

FOOK SUN FOR SALE Panama Hats, Fa't Hais, Straw Hats and all Hinds of Hats, HATS CLEANED & SPECIALITY. No. 8. Wellinrson Street.

The Transfer Books of the CompADY

will be closed from March 3 to March. 14, 1925, both days incisive.

By Order of the Board of Directors, GIBB, LIVINGSTON & CO., LTD,

Agenta.

Hongkong, 25th February, 1925.

HONGKONG ANGLING" CLUB.

at 5:30 p.m.

during the six months from the 1st January,

1925 to the 30th June,

195.་་་***་ན Land and Buildings (as

mentioned on page 3. of this letter)..$ Stores in hand and fa transit at the 30th June, 1925, at a valua- tion to be agreed upon. -

we

491.335.

We

which could not

the

I am

Yours sincerely, (signed) GEORGE S GIBB.

J. H. Taggart, Esq.

To the Government.

Your letter contains some things which, if I were in a controversial mood, I could present in a light very different from that in which your extremely able advocacy has presented them. But the business with which we have to deal is too raeeting was held at the office of serious and urgent for me to yield the Hongkong Chamber of Com- to any temptation, by answering in merce on the 9th February and detail points of controversy which was attended by the Committee of we have verbally discussed through the Chamber (Mr. G. M. Young many days, to spoil my recogni. being in the chair in the absence tion of the reasonable spirit in of Mr. J. Owen-Hughes through which you make a final veffort to indisposition); the gentlemen who' bring to a practical business in 1922 formed the Joint Cham-{ Jike conclusion, ale strenuous bers of Commerce Telephone Sub- endeavours we have made

Committee (with the lamentable find a satisfactory settlement of exception of course of Mr. A.R. the telephone situation, which, Lowe), Mr. A. G. M. Fletcher although essentially simple, had (Assistant Colonial Secretary) on become so difficult and complex behalf of the Government, Sir. as nearly to baffle qur attemps to George S. Gibh, the gentlemen clear it up.

interested in the proposed forma-

to

I will therefore confine myself

to saying that I am glad, from tion of a local company, etc.

It was stated at that meeting

لوم

; ་

had the benefit of the £10 rate for WEEKLY SHARE REPORT eighteen months longer than, was

ago, Messrs Moxon and Taylor Should the rates sanctioned result anticipated three years in a return to the new company. of more than the minimum of 8

report:

Our market generally has been on the quiet side during the past week, only a few of the favourite Industrials showing any activity.

The Shanghai market continues " steady with Docks and 'New En- gineerings showing a considerable rise.

The following are the principal alterations since last week:

Hongkong Banks: Continue

in good demand and, after coming

Cements:-Have come to busi- ress at $284 for Combined shares at which price a fair number of shares have changed hands.

Wharves: Are wanted at $2044 without attracting sellers. Hongkong Docks:- Could be placed at $140.

Shanghai Docks: Are very firm with buyers at Tls. 116 with That, subject to further few if any sellers, inspection of the cables and, Hongkong Electrics:On the conduits to, the satisfaction of announcement of a dividend, had the Government and to the a considerable rise and close very terms of firm with buyers at $53 cash and insertion in the franchise of clauses to safe- $54 for April. guard subscribers, the Com- mittee approves the terms for transfer of the present Tele- phone Company's undertaking to a local Company as set forth in the correspondence between Sir George Gibb and Mr. Taggart."

Hongkong Trams: Are also a firm market with buyers at 357- at which price some shares have changed hands. ««

China Sugars --Have declined to a selling rate of $71.

Chinn

- Have Providents: sellers at quotations with few if any buyers.

.China Lights-Are Д firm market and have been done at $281 for May.

Dairy Farms:-After coming to business at $254, are wanted

J

Lane Crawfords:--Are wanted

Taxis-Are nominal at $3% London Quotations of the 26th

the resultant figure being settled many points of view, to be able

Conditional Agreement. by the issue of one hundred and on behalf of my Board. and of that the promoters of the new

Matters having thus far been forty thousand Ordinary Shares of course subject to shareholders' company proposed to submit to $10 each, credited as fully paid up, approval, to agree to the terms set the Government an application and the balance of the purchase forth in pages 8 and 9 of your for a telephone franchise cover- brought to a successful conclu- ing a period of fifty years and sion, a conditional agreement letter.

up as between the THE FIRST ANNUAL MEETING consideration being paid in cash.

I trust that I may be permitted providing a minimum net return was drawn The new company would not, will be held in the Board Roon under this alternative scheme, take to add two remarks. Firstly that to the company of 8 per cent. per China and Japan Telephone and of Messrs, Jardine, Matheson & Co over the profits, cash balances, en also expressing the a minimum return of 9 per cent. and Mr. J. H. Taggart (on behalf Steamboats:-After declining

I greatly regret, and I am sure that annum. The promoters had had Electric Co., Ltd., of the one part at $26. Ltd. on MONDAY, 2nd March, 1925, debtors, creditors, debentures, or feeling of my colleagues, on the in view, but as the Government of the "Hongkong Company") of to $95, have risen to a buying.

E. B. C. HORNELL, company,

any of the liabilities of the existing Board of my Company, that any considered that 8 per cent. was a the other part. This conditional rate of $35/2.

Star Ferries: Have been Hon. Secretary.

but I venture to think that as many impression, should exist that the more reasonable figure they had agreement has not yet been sign.

18"quiet during the week but a few on February

Mr. shares have changed hands at Hongkong. 21st February. 1925.

of the difficulties which originally Company did not, ou a previous been quite willing to adjust their ed

occasion, produce any data setting views accordingly. It was pro- Sir George Gibb, and appeared to be in the way of its forth the basis upon which they posed that the new, franchise Taggart both signed on two $80 to $81. adoption have, during our closely had arrived at their valuation of should sanction rates which it is copies thereof that they approved HONGKONG JOCKEY CLUB,

pursued and detailed discussions been cleared away, it has much to plant. It rather puzzles me to estimated will prove sufficient to such conditional agreement sub- at $19.10. commend it. I cannot help think-understand how that Impression ensure such minimum return to ject to (so far as Sir George Gibb ing that it is now the best way in can have arisen, for 1 know that the company after payment of is concerned) the approval of the which we can arrive at a final the Company took the step of expenses, depreciation, reserve, present company's Directorate inst.:-Hongkong Banks £151, settlement and that it would avoid sending to Hongkong their Con etc., on a reasonable basis, and in and shareholders and (so far as Indos Deferred £12 15s., Shalla Exchange: The demand sell- the possibility of any questions sulting Engineer, Mr. W. W. Cook, this connection (if the new com- Mr. Taggart is concerned) the 44 188. 9d. All middle prices. arising as to the allocations of a telephone expert of the highest pany is duly formed and com- consent of the promoters of the

eminence, who made valuations, in next profits to the date. of the transfer complete detail and at great labour half of this year), the rate per this conditional agreement has and the T.T. on Shanghai le mences operations for the second Hongkong Company. A copy of ing rate on London is 2/3.18/16 Season. The attendance Tls. 79.5/16.

1925). I have also in mind that by Company'e plant on the established $108 from the 1st July, 1925, of Hongkong.

basis which would be adopted by

Sir George Glbb left the Colony vided all else is satisfactory) the. any arbitration tribunal who had to instead of £10 per annum (ap- assess the value of telephone plant proximately $84) as at present. on February 19, and will cable new company may proceed, to

the approval of his become registered. Mr. Cole of Shanghai, as the Tele. In estimating the rate necessary when phone Commitice stated in their to be charged to ensure satisfac- colleagues and shareholders has report, made, a similar valuation, tory working of the sew.company, been obtained, whereupon (pro- on behalf of the Government, and, was found that approximately so far as the records show, all $108 per Exchange Line should facilities and Information were provide an economical return, granted to him for the purpose. and, as a matter of fact, the rate These valuations, perhaps natur- of $108 per annum is that recom- ally, did not come out at the same mended by the Telephone Sub-of Chamberlain's Cough Remedy? It commits itself to a franchise to figure. I confess, that, in my ex- Committee 1922 for the year perience, such valuations, in which 1924, so that in being charged the many of the factors must be mat rate of $108, the public will have

A MEETING of Members will be held in the Jockey Club Room, Hongkong Club Annex on FRIDAY, 6th March, 1935, at 5.30 p.m. for the purpose of dis cussing the method of acquiring Subscription Griffigs for

members interested is required.

By Order.

C. B. BROWN, Secretary. Hongkong, 28th February, 1925.

ST

NOTICE.

TORAGE Space on Marine Loks Chinese with Godown and

Houses to Let.

·

W. S. BAILEY & CO. LTD,"

Kowloon Bay,

Hongkong, November 3, 1924.

HONGKONG HORTICULTURAL

SOCIETY.

at

FLOWER SHOW

VOLUNTEER HEADQUARTERS

THURSDAY, 5th March, .3 pm. to 7 p.m.

E. B. C. HORNELL,

Hon. Secretary, Fongkong, 28th February, 1925.

The matters above referred to

are to be discussed by the Legis lative Council of this Colony at an early date and be given the fullest STUFFY COLDS.. consideration in the interests of- Mothers, why allow "aguea" and the public and of all others con- atuffy wheezy breathing to distress your cerned, before the Government babies when quick relief follows the use

checks the development of a cold and the new Company on the basis contains no narceties. It is good ios for indicated.

Hongkong, 27th February, 1826. croup and whooping cough. Every user

in a friend... For sale everywhere.