1926-05-29 — Page 6

W & A. GILBEY'S

"SPEY ROYAL" SCOTCH WHISKY.

THE CHOICEST and OLDEST procurable.

Messrs. W & A Gilbey Ltd being the proprietors of Three Highland Distilleries are in a position second to bone to supply the finest possible Scotch Whisky.". SPEY ROYAL " Scotch whisky has been matured for many years in their own Excise Bonded Warehouse, abhas been specially stored in Sherry Cheks.

Sole Agents

A. S WATSON & CO., LTD. Wine and Spirit Merchants. Phone Central 616.

Yes, Madam We

Serv-ICE!

ICE that comes to you ander sanitary

conditions-Ice that is fit for cold drinks at all times-Ice s pure as your drinking water-such is the Tea that is manufactured by ust

May we send you a passbook

THE DAIRY FARM, ICE & COLD STORAGE CO., LTD.

BATHING SUITS

complete stock for Ladies,

Gents and Children:

Assorted qualities and sizes. Prices Very Reasonable.

THE SINCERE COMPANY, LIMITED.

PHONE NO. 2139.

PUN YICK CHO.

LAND & ESTATE AGENTS Telephone Central No. 911-1967. 85, Queen's Road Central.

THE CHINA MAIL.

FOR ABSOLUTE RELIABILITY

MOUTRIE

PIANOS

Latest Catalogue sent on request..

S. MOUTRIE & CO., LTD. Chater Road.

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(Every evening except Bunday. Annual subscription, excluding postage abroad, H.K: $30, payablo: in advance. Local delivery fran.)

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BIRTHS.

BRUCE-On May 13, at Colombo,

LUSHINGTON.On May 1 at:

HK HOTELS CO.

(Continued from Page 1.

SATURDAY MAY

the death of Mr Montague Edé, und more recently the deaths of Mr Holyoak and Sir Paul Chater

If you will allow me also to in trude on a personal bereavement I would like to tender to you the shareholders' sympathy in your own great personal loss by the passing away of Mrs Taggart; the share holders know the keen faterest always taken by the late Mry Taggart, in the working of the Hongkong Hotel, and they feel that by her death, this Company has lost a highly qualified adviser who was not above taking a personal hand in the solution of the many problems which the exigencies of the recent trying times has demanded.

|

thm)

splendid aurylane giver

by the Hotel in the early the strike for which the Director and the management deserve the thanks of the community.

With these words, Mr. Chairman, formally second your proposal for the adoption of the report and accounts, hagk

Hotel are now in process of de- molition to an attent necessary in order to permit reconstruction in such manner as to make provision for a ground floor containing a larger lounge space than hereto

Why Kalee Was Sold......... fore, a first floor with mazzanite comprising a modern Grill Room

The Chairman, in reply thanked together with adequate space for

Mr. da Roza for his kindly reference dining and dancing, and two floors

to the late Mrs. Taggart With re of bedrooms on modern lines ren-

gard to the sale of the Kalea Hotel, dering a greater degree of service

Shanghai, Mr. Taggart pointed out and comfort than has heretofore

that there was not a clause in the sale, agreement to the affoốt, that been possible. The total cost of such reconstruction including

The Figures.

the purchasers should be restrict," furnishing, etc.. la conservatively

Mr. Chairman, in seconding the ed from utilising the property as a restriction- estimated at $500,000. The work adoption of the report and accounts, an hotel as such of reconstruction will be in the would like to refer to a few would be in the nature of a blot hands of Measra. Palmer & Turner Agures although the accounts have the title and would therefore and I am confident you will be fully already been ably reviewed. Prejudice the price obtainable.. satisfied with the result, more eape The Directors of the Company are

Mr. Taggart added that the com» cially having in mind that due to to be congratulated on what I con- Pany as hotel proprietors would the utilisation of the existing sider an excellent report of the not have sold the property for a foundations and main outer walls.result of perhaps the most dieult figure at which it could be success- reconstruction can be expedited

fully operated as a hotel..

national aspiration, should desire/And considerable economy in build-Year of the Company's working. 1 Mr. N. V. H. Croucher: I have

ment.

Fire Result.

.

confess to having expected a report ing effected. On completion we to conduct business in their own shall be in a better position than showing lakha, in loss, and this was listened with appreciation to the land in their own language. As a heretofore to meet the growing natural expectation in view of very full statement made by the the visible disorganisation around chairman concerning last year's ac matter-of-fact, the Chinese lanuseds of our clientela; furthermore,

we shall be able to render to the us in almost everything in the na- counts and take the opportunity to guage plays an important part in residents of our Peninsula Hotel at ture of business in the middle acknowledge the heavy handicaps the conduct of business in the in- Kotigon facilities in the matter of mouths of last year; conditions in under which the company has terior, and it is with the remoter dining in town, which would have Shanghai where our interests are laboured during that period. I parts that more and more business been impossible in the old establish great was not much better. and the trust, however, that the corner has pending power had been much re-been turned and that as a result will be done in the future A

duced. It was not therefore the of the many economies on the one. Chinese who goes to Bradford

gloomy picture of a pessimist, but hand and Increased revenues on the The South Block of the Hong the stern realisation of facts which other, the Board can see prospecta must speak English. Why should

kong Hotel has been reconditioned, led many to the expectation of of an interim dividend ahead for the Briton who comes to earn and is now complete and self-severe loss: in this year's working. the present year. I should like to living in Hongkong or Canton re-contained, although naturally offer-On top of this came the fire at the ask therefore if the chairman could fuse to speak Chinese?

ing limalted residential accommoda- Hongkong Hotel which. I might say, give us his idea of present possi- tion as compared with the capacity cut the ground under our feet bybilities provided that he is causing Our Lendon

contemporary of the former building, Revisions reducing the probability of good the Board no embarrassment by adds:"We hope no effort will be in the Company's accounts const-profits on an early return to normal spared, especially in these fast-quent upon the Fire are not 'em-

conditions.in Hongkong.

I am extremely glad results have changing times, to see that the bodied in the figures before you,

proved otherwise, and that the dis. young man, who goes out to start

ater which, befell us by the fire a career in China--and not only

has been overcome to a great as in China, but in any part of the East-is able to converse with the people he is destined to do busi-

bearing in mind that the conflagra tion having occurred on January 1 financial adjustments pertaining thereto will be effected in the acont counts for the current years

"

doing so

In raply. Mr. Taggart said he had not embodied in his speech any reference to the possibility of the company paying a dividend for the current year as any such reference might, in the light of after events. he regarded as over-optimism," He pointed out, however, that the amount brought forward from

was approximately $250,000; the profit on the sale of the Kalee total, as fadiented in the speeth, would be some $850,000; and that the company's audited monthly ac- counts to the end of the first quarter of the year, showed a pro- fit of $250,000. He could say no

There is one other important

which also does not affect the to help him, and quite apart from Company's accounts until the cur its commercial advantages arent year and that is the recent knowledge of the language is an sale of the Kalee Hotel, Shanghat. to Barbara, wife of Lt. A. C. Faid to general intercourse with The price realised was Tis. 928,300 nett to the Company, thus showing Bruce, RN (retired), a son the people of the country and a profit of approximately $370,000 Colombo, to Mr. and Mra. R. F.preventive of many misunder over and above the book valuation without depleting the Land and Lushington, Nayapune, Pussel standings."

Building Reserve. Delivery of the lawa, a daughter.

Kalee Hotel is to be made on thel STEPHENS-On May 19, nt

1st December next, thus affording Tremelbye Estate, to Mr. and Mrs. W. F. O. Stephens, a son.

ample time for arrangements to be made for the accommodation else where or the present residents in DEATHS;

that establishment.

ness with. Ample facilities exist matter to which I should refer, but below those for the year 1924, but 1925, as shown by the accounts,

1:

POULIERO May, 11, 1926, at Ceylon, Dorris, daughter of Mr. J. W. Pouller, of -Wellawatte. WILLIAMS- On May 14. Rosamund, widow of the late Captain Watkin Williams, at "Lynwood," Edinburgh

cent.

ACKNOWLEDGMENT.

Lady Chater desires to thank friends for their kind expressions of sympathy in her great bereave- ment and for the many floral, tributes.

Hongkong, Saturday, May 29, 1926..

LEARNING CHINESE.

},

can

Appreciation.

Policy Commended., "The profits are some 4 1/2 lakhs

as has been pointed out by the Chairman the reduced figure was due lasvaly to increased charges to the Profit & Loss Account mainly for interest which I fear will re main with us so long as the Com pany works on a capital relatively small in comparison with Ita assets..

more.

יו'

No other question was put. The motion was then put to the mests ing, and carried unanimously.

The Directorate.

I would like to commend the policy of the Directors in treating, depreciation in the correct manner as a charge against profits and, not as an allocation from profits, a The chairman then said: point which is not properly appreThe next business, gentlemen, 18 ciated in local company finance: 'the confirmation of the appoint- Before concluding my remarks I Their policy also of spreading thement of Mr. R. G. Shewan, natio desire to place on record our ap-risk by branching out to the vars Director. This is now rendered a preciation to Mr. J. Scott Harston loss centres of China. a policy purely formal resolution in view of for his practical help and advice which has been much criticised in the fact that since the issue of the at all times, but more particularly the past, has been amply justified Notice convening, this meeting I during the first quarter of this by results, and excellent returns have received a letter from Mr. year. To your Manager, Mr.might confidently be expected when Shewan conveying his, resignation Hawker, great credit is due for the conditions

This as a Director owing to reasons of business. I take this opportunity on behalf of the Board of thanking Mr. Shewan for his services to the Company and our regret that he has decided not to, continue to occupy

seut on the Directorate. O

normalise.

I shall be obliged if a shareholder: will kindly propose the confirma tion of Mr. Shewan's appointment to date,

This is all part and parcel of the ideas of concord impressed on the non-Chinese community, recently by His Excellency the Governor when he ventilated the suggestion for a Concord Club Nothing ought to be omitted that strengthen relations between the Chinese and the non-Chinese, whe- ther commercially or socially. If the language is considered a draw Cres-back, then every endeavour ought

to be made to stimulate a study of able manner in which he has con Colony, has produced business in Cantonese amongst British subducted the business of the Com-etitutions ranking amongst the jects already resident here and any covering one of the most diffi- first of their kind in the world, and cult periods of its history when a may yet give another in the Hong- amongst those who come out from series of unfortunate occurrenees kong and Shanghai Hotels, Ltd. Home in the future to join British precluded me from taking an active

Share Values. mercantile firms.

In connection with the sale of the If, as in the part in the conduct of the affairs-

of your undertaking. To the mem- "Kales" at Shanghai will the Board Civil Service, that study can be bors of our European and Chinese inform the Meeting of the terms of promoted by means of a bonus in staffs and Particularly to those of the sale in so far as they relate passing, examinations, there is no the latter who remained loyal dur-to the use of the building after Mr. T. GWeall proposed and Mr. reason at all for making it a coning the period of labour disaffec delivery. Has the building pashed I Montague Ede seconded, accord- tion I cannot pay adequate tribute to other Hotel interests?LAN ingly. The proposition was, carried. dition for mercantile assistants i have no hesitation in snying that It is fallacious, gentlemen, an Other business passed by the and others whose daily duties without the conscientious applica- you all know to value our interest meeting comprised bring them into personal contact tion of our personnel in Hongkong in the Company by the Intrinsic Re-election of Mr. J. Scott It is interesting to note that the with the Chinese. It ought not to and Shanghal our accounts for the value of its assets its ability to Marston as director-proposed by China Express and Telegraph be left to voluntary inclination Year 1925 could, not possibly have pay dividends is the true test, but Mr. W. Van der Steen, seconded by

shewn the results before you, it may Interest you, gentlemen, a Chiness, shareholder. gives its blessing to the movement whether a newcomer from Home which your Board cannot but re nevertheless to know, when the Re-election of Messrs. Percy out here to further the learning of should or should not take up the gard as satisfactory in the light of earning power returns as it surely Smith, Seth & Fleming and Mesars, Chinese amongst British residents study of Cantonese A know the vicissitudes through which we will that ensured by the assets Thomson & Co., as auditors for the employed by British firms. Our ledge of that language is admit-have passed, and you may rest at merely their book values, the current year proposed by Mr. E. assured that every chancel has London" contemporary says thattedly helpful to trade, and been explored with a view to effect. Shares of this Company work out Abraham, seconded by Mr. Kelly It notes with interest that the it would be distinctly un-ag economies without impairing British Chamber of Commerce fair to British interests in Hong- the earning powers of the busi

ness, sho Journal, the mouthpiece of the kong and China not to make the It fe a matter of extreme, regret Associated Chambers of Com-fullest possible use of every lever to your Beard that on this occasion merce in China and Hongkong, is to advance our trade. Now that they are unable to recommend, the giving serious attention to the

a Home paper has seen fit to con-declaration of a dividend. How- Chinese language and the part it cur with the suggestions of the ditions of these times, it is in the must play in future commercial General Chamber of Commerce, circumstances deemed prudent not relationships in China. The local business men should be en- to pay a dividend for 1925 but Chambers have long been of the couraged to advance still further. rather to strengthen the resources opinion, that a knowledge of Chin- esa is necessary to the effective. conduct of business, and it is a

His Excellency the Governor that the report and accounts for most regrettable fact that many has appointed Mr. A. S. D. the past year as presented bo British young men are content to Causland to be a Member of the adopted and passed, that $200,000 plough the business furrow with. Licensing Board during the abbe placed to the credit of General sence from the Colony of Mr. J: 0 Reserve and that the 3234,12279 out ever an attempt so to equip Hughes, with effect from May 10 the remaining to the credit of themselves. It Is common know. 1926.

Profit & Loss Account at Decem- ledge in the East that, prior to the

ber 31, 1925, be carried forward When that proposal ban baen. Great War, Germany was fast

ex-seconded 1 shall be plensed to an- capturing the trade through the

wor to the best of my ability any ablity of her merchants to con-

questions arising therefrom verse in the native language It

Seconder's Speech,

Mr. C. S, Goddard, chief aminer of the Chinese Maritime Customs, was robbed while in Chit Street yesterday. A Chin ese anatched from his pocket a is also well known that nearly all wallet containing 300 and some Japanese firme make a knowledge papers, and escaped.

of Chinese: a necessary qualifica

tion of employment, American and

ever, In view of the unsettled Tur-

of the Company by retaining the profits In the business

I now beg formally to propose

Mr. C Ada Rota said Formit. me Mr. Chairman and before continuing wit dinary business of thi peating.

on behalf of the general

His Majesty the King has not Dutch firms have also begun to been advised to exercise his power body realise the importance of this. As of disallowance with the Chamber of Commerce Journal an Ordinar

points out, it is only natural that

the Chinese, who are moving slow-ford

ly toward the realisation of their day

to aut

espect to pres

the pre

the

at $16-each,

Sayce.