1928-05-10 — Page 3

THURSDAY, MAY 10, 1928.

LAMMERT BROS.

Phone C. 22

FOR

AUCTIONEERS, APPRAISERS

CLASSIFIED

AND SURVEYORS,

-Public Auctions—

NOTICES.

BRITISH LEGION.

THE CHINA MAIL,

IT'S

VALUE TO SHAREHOLDERS.

A BALANCE SHEET. sheet almost from this angle alone, but to most the form In which it is set out is somewhat of a puzzle. A balance-sheet should show hi summary form; the financial position of the com-j pany at the date of the state ment, the various debit and credit balances standing in the booke "The Value of a Balance Sheet" being given, after collecting into Toenty-five Word Every addi. Undation to poll by rublle in the Board Koon of Yardine; recently before the Sheffield Cen- prances relating to revenue.

THE Undersigned have received p.m. on FRIDAY, 11th May, 1928, was the subject of a paper read profit and loss account all the

ADVERTISING

three Inser-

tional word four cents for three insertions.

WANTED.

WANTED.-Expert European Lady Stenographer. Reply Box No. 547, c/o "China Mail."

WANTED.-Chinese, male stend- grapher for Caston or outports. Apply P. O. Box No. 22,

WANTED. Experienced

Auction

ON

FRIDAY, the 11th May, 1928,

commencing at 11 am,

at their Sales Room, Duddell Street.

4-Blade Ceiling Fan

2 Cases Alarm Clocks

2 Circular Knitting Machines

1 Desk Fan

1 Parcel Records (New) -, 2 Garden Sets

12 x E. W. Field Hoen

12 x E. W. Steel Rakes

26 Cases Fish (Chinchards) in oll

Steno-

grapher-typist for solicitors' office. Apply P. O. Box 387.

TO LET.

TO LET.-At moderate rental, Offices 1st and 2nd Floors, No. 1, Daddell Street. Use of Lift. Ap- ply Box No: 546, c/o "China Mail."

FOR SALE.

FOR SALE-One five-seater Hup- mobile motor car. In gond running order. Newly painted. Apply Box No. 545, c/o "China Mall.”

FOR

SALE-New Orthophone Cabinet, excellent tone. Can play night records at one wind- ing. Price only $150. Apply Box No. 541 c/o "China Mail."

•

5 Bales 1/40's Silk Noil Yarn

18 "Fire Snow" Fire Extinguish-

ers +

'

HONG KONG BRANCH,

HE 7TH ANNUAL GENERAL

at 5.15

WHAT EXPERTS CAN DO.

It

Matheson & Co., Ltd.

tre of the Institute of Bankers, is usually, however, a little con- Business: To receive the report and other professional societies, fusing to the layman by reason of and accounts for the year 1927.

by Sir Mark Webster Jenkinson, the fact that on the "liabilities" To elect officers, etc.

n director of Messrs. Vickers- aide are items of a suspense na- A. PIERCY,

Armstrong, Limited.

As a dia- ture, such as reserves, insurance tinguished chartered accountant funds, etc., and among the Hon. Secretary the lecturer is eminently, qualified "assets" expenditure not repre- Hong Kong, 7th May, 1928. to speak on such a subject, and sented by tangible assets.

there were several points touched upon which make one rather re- gret that London was not the venue chosen for the delivery of whether the balance-sheet of a the address in preference to a pro- in a form which would indicate public company can be presented vincial centre, however important. sheet? It very much depends said that whatever the manner What is the value of a balance the position of affairs me clear- ly than at present. It may be upon the person into whose hand

THE CANTON INSURANCE OFFICE, LTD.

The Poor Shareholder. The question, therefore, arises

NOTICE TO SHAREHOLDERS.

197 Tina Charges for Fire Extin-TARY GENERAL MEETING of shareholders in public com-

THE FORTY-SEVENTH ORDIN- it comes. There are many people in which the accounts were sub- mitted, the average shareholder Shareholders will be held at the panies included-who are incap would not understand them, but Offices of the undersigned onable of understanding one if by remodelling the financial THURSDAY, the 17th May, 1928, people to whom

position can be made more appar-

guisher

3 Electric Motors

6 Water Pumps

Blades

1 Bundle Iron Tubes

2 "Borsig" Water Pumps 23 Colle Electric Wire

and

'A' Quantity of

Miscellaneous Goods. Terms: Cash on Delivery..

LAMMERT BROS.

Auctioneers. Hong Kong, 9th May, 1928.

ON MONDAY, the 14th May, 1928, commencing at 2.30 p.m.

at "Villa Manola", Sassoon Road (off Victoria Road) Pokfulam.

1928, both days inclusive.

JARDINE MATHESON & CO., LTD., General Agents. Hong Kong, 26th April, 1928.

MACAO RACES:

the array

of

1 Ceiling Fan with Aluminium at Noon, for the purpose of re- figures set out on the debit or ent, the fact that long usage has ceiving the Report of the General credit side is so much Greek, led to the adoption of a stereo- Agents, together with a Statement, There are others, on the contrary, typed form should not alone, in of Accounts for the year ended the who are as expert in reading the Sir Mark's, opinion, stand in the 91st December, 1927.

message the figures have to tell Way of a change. His view is that TO LET-FURNISHED ROOMS,

The SHARE REGISTER and in cipher with the code-book in ments that two points of parti- as another in translating a cable it is possible to frame such docu- single or double, with board.

TRANSFER BOOKS will be CLOS front of him. There are occa, viz. (a) the amount of working cular interest are emphasised, Modern sanitation. Apply No. 11, Talking Machine Accessories and ED from the 3rd to the 17th May siona when Chatham Road, Kowloon,

a company, while telling nothing but the truth in capital available; (b) the extent the annual report and balance to which the share capital is re- sheet, may not want to reveal the presented by fixed assets, the whole truth, and there are experts value of which varies with the in the art of accountancy who can earning power of the business. produce such a document. and He would have no objection to a baffle the skill of the cleverest memorandum in the form of critic while still complying with notes appearing at the foot ex- the requirements of the Complaining the basis upon which panies Acts in these matters, the value of certain assets had Their object has been to disclose been ascertained, and generally nothing, and they have succeeded. Supplementing the information After all, It has become quite the regular contained therein. practice nowadays to appraise the cash at bank or in hand is the only prospects of a business by its an asset which can be said to be ab- nual accounts, and a value is solutely stated at its proper value, often attached to the auditor's Valuations of premises, stock, certificate which is sometimes book debts, plant, the depreciation greatly in excess of its real signi- on the fixed assets and the provi- ficance. An ideal balance-sheet is, sion for expenses accrued, etc.. perhaps, one which furnishes the are all only estimates. For exam- fullest information on all subjects (ple, the valuation of works, ma- chinery, plant, etc., is based on directly affecting the company, cost price, less depreciation, but but there are often times when, 3.30 p.m.

in the interests of the share that may not be the same as its 5.30 p.m.

So much de- holders themselves, it is not advisrealisable value. able to disclose everything that pends upon the earning capacity CHENG, has taken or is taking, place.

of the business, for the realisable Secretary. company might, for example, be value might only be the break-up value, or it might be enhanced by passing through a temporary phase which the directors feel the suitability of the premises for sure will be of short duration, and purchaser whose only alterna- a disclosure would have an in- tive was to build at much greater jurious effect on the market value cost. Management, again, is an of the shares. To create unneces-asset difficult to put a valuation

TUITION GIVEN.

A Large Quantity of VALUABLE HOUSEHOLD

FURNITURE.

Comprising:-

*

Teak Hatstand,

Chesterfield Couch and Chaira with Fancy

Eighth Extra Race Meeting. SUNDAY, 13th May, 1928. First Race 1.15 p.m.

Public Enclosure 40 centa. Members' Enclosure .. $1.00 RACE STEAMERS:

SUI AN

TAISHAN

+4

By Order,

S. W.

PRIVATE LESSONS in English Cretonne Covers, Large and Com-long Kong to Macao und French; violin and piano; fortable Armchairs, Silk and Em- stenography and typewriting. Easy, broidered Cushions, Silk and Net conditions. Apply to 6,

Almaí Curtains, Carpets, Large Satauma, Maeno to Hong Kong Villas, Kowloon.

Forcelain and Lacquer Vasca, Lac- SUI AN quer Ten Poys, Brass Ornaments, TAISHAN Marble Busts, Pictures, etc., etc., Teak Extension Dining Table, Teak Dining Chairs, Teak Side- board, Teak Glass Cabinets, Tables, Silver and E. P. Ware, Glass Ware, Dinner Service, Tea Sets, Electric Ceiling Fans, Brass Standard Lamp with Silk Shades, Electric Lamps and Fittings, Teak Ice Chests, etc., eta..

MME. BARONELLI, ARTISTE, School of dancing for children and adulte in character, classical, ex- hibition, fox-trot and Charleston,

Special Attention to stout Ladles who are desirous of regaining their youthful figure. Address 91, Ashley Road, Ground Floor, Kow- loon. (Back of Star Theatre).

LESSONS IN CHINESE.

MR. LI HON FUN begs to state

more

that he has been a teacher of Chinese to European Ofeers and Merchants in Hong Kong for than twenty years, that he has had considerable experience in training students for examinations in Chinese, and holds first-class certificates.

Persons wishing to study the Chinese language are requested to communicate with him

at No. 104, Praya East, first floor.

Terms moderate.

HOME TUITION,

WESTOVER

STEVENAGE.

Within an hour from Lon-

Teak Bedstead, Teak Wardrobe with Bevelled Glass Doors, Teak Dressing Tables, Chest of Drawers, etc.,

Enamelled Bath and Bath Room Requisiten

Alao

A Quantity of Blackwood Furniture And

A Large Cooking Range and Hot Water Tank and Cooking Utensils.

Catalogues will be issued.

On View from Saturday, the 12th May, 1928.

Terme:-Cash on Delivery.

LAMMERT BROS., Auctioneers. For the convenience of intending In healthy neighbourhood. purchasers, n bus will run from the SCHOOL for GIRLS and SMALL Queen's Pier leaving at 2 p.m., and returning at 6 p.m., on day of Sale.

don.

BOYS.

A few Boarders received

in the House of the Principal. In-

dividual care and attention,

Particulars apply to:

For

MISS RUTH CULLEY

(Camb. Higher Local): (Camb. Teachers' Diploma). MISS GERTRUDE TURNER (National Frodel Higher

Certificate).

MISCELLANEOUS

Hong Kong, 8th May, 1929.

LADIES!

WHY SHOULD YOU BE

EMBARRASSED BY.

PIMPLES.

Pimples and all skin diseases are easily cured by Poo. On Chinese Herb treatment.

YOUR VISITING CARDS nently and promptly printed."China Mail" Office, No. 3a, Wyndham St., | POO ON CHINESE HERBS. CO. Telephone Central 22..

66, Queen's Road Central.

A REAL BARGAIN.

THE OLD ORIGINAL

CHEFOO STAMPS

UNUSED GENUINE SPECIMENS

$2.00 per set of 6 stamps.

"Cash' must be sent with urder to Boz No. 419

e/o "China Mall"

THE

8.30 a.m. 9.30 a.m.

WELCOME STUDIO,

EXPERT OUTDOOR

PHOTOGRAPHERS.

QUICKEST SERVICE

IN

DEVELOPING, PRINTING,

AND ENLARGING.

'APURKAS

ICE HOUSE STREET.

(BKHIND HONG KONG ELECTRIC CO. SHOWROOM).

PHOTO-SUPPLIES

Kodaks and Cameras. Films, Plates and Papers, etc. Developing, Printing and Enlarging. ZIESS and BUSCH FIELD GLASSES

Price Moderate.

A Trial Order is Solicited.

A. SEK & CO.

Tel. No. C. 3459,

26A, Des Voeux Road C., Hong Kong.

NOTICE: TO SHIPOWNERS, MASTERS & AGENTS.

The Yuen Wo Seamen's Institute always has men available to ship a watch men, seamen, &c.

Our men

are employed by the leading passenger lines. We guarantee satis faction.

Please phone or call: K.661 No. 2, Street, Faumati or

* C.2560 No. 36,

Man Street.

Tung

A

DAILY CROSS-WORD PUZZLE

(This cross-word puzzle has been made by an expert

but our readers are warned to look out for occasional phonetic spellings, such as harbor, plow, and altho.)

2

15

19

241

27

10

15

lb

07

18

21

122

123

25

126

28

29

30

32

33

134

135

137

38

39

142

143

445

146

47

48

#9

HORIZONTAL

THE INTERNATIONAL SYNDICATE,

HORIZONTAL (Cont.)

1-Marocchusetts city' |39-Nalther

B-Court

9-Maka brown

11-Pant

12-Harah

15-Confederata

commander 17-Excoltenpe 10-Clamor 21-EB\ptical 23-Knack

24-Conjunction 25-Budden fright

27-County in New York 28-Guide wrongly 29-Comrades

40-Famouɛ V. 8.-

Moneral 42-Corroded

45-Melt

45-Ratify

47-individuat

48-Pipe for drawing

fiquide

|49-Perspired profusely

VERTICAL

2-Bird

VERTICAL (Cont.) 18-Mrs. Stowe's little

heroine 18-Reproaching 20-80rap

22-Applied Hims to ||24-Pertaining to abb

and flow

26-Prefix meaning "on

this side" 27-8altor

30-In the pret

23-Aald

88-Clook face

3-An anciosed space 34-8uffix densting an 4-Tremble

B-To tear into strips

-Finish

82-Lines from center to|| 6-8tretched

oiroumferencs -Exclamation 36-High explosive

(abbr.) 88-Cating

|10-Runaway marriage

11-Vegetabla

} 18-Reffact back

14-Blown up

agent

38-Cloth for drying

face and hands

37-Flavor

40-Narrow

thoroughfare 41-Close by

44-In what manner 48-Mimlo

SUGGESTIONS FOR SOLVING CROSS-WORD PUZZLES Start out by filling in the words of which you feel reasonably sure. These will give you a clue to other words crossing them, and they in turn to still others. A letter belongs in each white space, words starting at the ntembered squares and running either horizontally or vertically or both.

(The solution of the above cross-word puzzle will

appear in to-morrow's issue along with a new cross-word.

puzzle.)

P

sary alarm is no part of a direc upon, but is an item which does HONG KONG HEIGHTS tor's functions. The responsibil- not figure. Shareholders as a rule ity lies with the board, and it is accept a balance-sheet with re-

For the information of vizitora

for them to judge what it is vital spect as revealing the financial the following list of some of the and what inadvisable to publish. position of the company, without highest points on the Island

taking the trouble to understand Mainland is published Bankers' Concern,

As

A balance-sheet is looked at the basis upon which it is found- from different angles by the vari-ed. To suggest reform in the pre- ous parties interested in it.

sentation of accounts is one thing; Sir Mark pointed out, bankers are to bring it about is another. It is mainly concerned with the realis-hardly the business of profession, able value of the assets on a al auditors, their function being "break-up," to assure themselves more to certify the corectness of that there would be sufficient to accounts as presented to them cover their present or prospective than to lay down the precise form advances after paying all prior in which they should be made up, charges. They are interested in It would be difficult, too, for a company's accountant to intro- a lesser degree with the com-duce a new system, as such an in- pany's actual indebtedness to trade creditors-especially in a ¡novation—if sanctioned by his local concern on account of the directors-would be sure to evoke! effect liquidation might have upon adverse criticism on the part of the financial stability of various some of the shareholders, at any customers of theirs. For deben-rate. If any revision is to come, ture holders, it is important for it will most likely be as the result them to assure themselves that of education by the responsible their capital is secure; that the financial Press. In the words of company's value as a going con- the authority we have been quot- cern is not overstated, and to feeling, "if shareholders could be certain that payment of the educated sufficiently to realise agreed rate of interest can be con- that a balance-sheet only reveals tinued. Preference shareholders what is disclosed by the books; look more to the profits earned that 'value' is merely a generic and the number of times their fix-term, the actual work of the fixed ed dividend is converted, for in assets varying with the progress the event of forced liquidation of the business; that although there is usually little left for them the machines may be automatic, after paying the prior charges. taking mainly depends on the the success of an industrial under- Ordinary shareholders for the initiative, energy and ability of most part focus their attention on the management, then the losses the dividend possibilities and. the

which they incur might in many market price of their shares rather than

cases be avoided."—"Syren and on their intrinsic |value as disclosed in the balance- Shipping."

sheet. Sometimes a company is fortunate in having a body of |shareholders- who prefer to see reserves piled up against a rainy day, rather than have a more generous present distribution which the profits of the concern would seem to warrant. Others there are who, no matter how

Shanghaf, May 4, large the dividend, always ask for One of the most devastating fires more, and it is in their own beat of recent years broke out in Poo- interests if secret reserves are tung shortly after six o'clock last; made from prudent motives, with night and in spite of the efforts of the object of equalising dividends, three fire brigades.. including the for the shares will not then be sub- two floats manned by Settlement ject to wide fluctuations in price. firemen, burned with undiminishing There is just as much wisdom in vigour for nearly three hours. The building up a reserve against bad Chinese military authorities estim-* trade as there is in making one ate at least 200 to 300 fatalities for bad debts. Proof of this women and children, in the main, could be furnished to-day by many who were trapped by the rapid shipping and marine insurance spread of the flames, companies, which, but for this

policy of reserve-building in good

POOTUNG FIRE.

OVER 200 CHINESE DEAD.

[days gone by, would, in the de- Damages and costs amounting to pressed times which they have £7 is. 6d. were awarded at New- recently experienced, have fared castle against each of 70 putters, very badly in regard to their divi who were alleged to have absented dand maintenance. There are themselves from Hazelrigg Colliery some critica who scan a balance in breach of their contracts.

YESTERDAY'S SOLUTION.

OGA

RED ASH

AER AR

IDE. AVON

EED LOSES INSI B83ONS

and

Island.

Feet.

Victoria Peak

1823

Signal Station

1774

Mt. Parker

1734

Mountain Lodge

1725

The Eyrie

1725

Peak Hotel

1306

Taikoo Sanatorium

1000

OTOR

877

MAT

Bowen Road (filterbeda) 297

Mainland.

IN ONE SCA

Feet. .8124 . 1971

Mt. Davis....

Taimoshan Kowloon Peak

THE

HONG KONG

DOLLAR DIRECTORY

Hong Kong's most Accurate, and

Cheapest Directory

NOW ON SALE

AT

THE HONGKONG DOLLAR DIRECTORY CO.

3a, Wyndham Street.

andat:— WHITEAWAY. LAIDLAW & CO., LTD.

KELLY & WALSH.

LEE YEE--(D'Agullar St.)

KOWLOON WHARF.

AH YAU-(R.K. Ferry Wharf),

AH YAU (Peak Tram Station),

HUNG CHEONG (Kowloon),