1930-12-06 — Page 9

SATURDAY, DECEMBER 6, 1930.

CORRESPONDENCE.

THE CHINA LIGHT & POWER COMPANY,

(To the Editor of the "China Mall"] Sir, In a place like Hong Kong. are wheels within where there

NOTE ISSUES

OFFICIAL MONTHLY

RETURNS.

TOTAL OF $115 MILLIONS.

The returns of the averageį wheels, I am compelled to make this amount of banknotes in circula-

Average Specie Amount. In Reserve

CHEFOO NOTES.

NEW ODE FOR BOYS' SCHOOL.

CHINESE Y.M.C.A.

[From Our Own Correspondent.] Chefoo, Nav. 22.

THE

criticism of the management of thetion and of specie in reserva in--On Monday evening a very China Light & Power

Co. (1918) Hong Kong. during the month pleasant time was spent at the Ltd., under the cloak of anonymity-ended November 30, 1930, as cer- C.L.M. Memorial Hall when a I have before me the Company's tified by the Managers of the res-musica) programme was rendered to Report & Accounts for the year end-pective Banks is as follows: ed September 30, 1930, which have

An inspection of! just been issued. the proposals of the Board as to the distribution of profits is amazing. It seems that in order to pay a final dividend of 50 cents per share, it was not only necessary to draw on the year's earnings up to the hilt, but depreciation had to go down mysteriously, and a substantial in- cursion had to be made on the un- distributed profits carried forward It from the previous year. would thus appear that in the eagerness to provide juice, even the lemon-pipa were squeezed to pulp In this line example of high finance.

Shanghai Banking Cor-

Bank of In- dia, Ltd... 3,554,650

1,350,000$

Total $115,316,000 $89,150,000 In addition Sterling Securities are deposited with the Crown Agents valued at £1,335,000. In addition Securities deposit ed with the Crown Agents and Straits Government valued at £2,932,618.

8

CHINA MAIL.

NEW

CHURCHES ADVERTISEMENTS.

A

CHARGE OF ONE DOLGAN MADE · FOR · ALL NOTICES UNDER

THIS

IA

HEADING

ST. JOHN'S CATHEDRAL, HONG KONG

December 7, 1930, 2nd Sunday faTMAdvent. Holy Communion, & a.m.

Holy Communion (Peak Church), a.m.,

Children's Service, 10 am:

Choral Eucharist and Sermon, 11 a.m.

Preacher: The Dean.

Evensong, 6 p.m.

Preacher: Rev. H. V. Koop. Social Evening In Cathedral Hall after Evensong.

UNION CHURCH, Kennedy Road, Hong Kong.

wwwwwww.

a large and appreciative audience. Besides the usual talented artistes Banka

whose performances are so well Chartered Bank

of India

known the Boys and Girls from the Australia and

Schools gave several pieces which China ...........$18,275,070 $ 7,800,000* were well received, the closing song Hong Kong and

being an Ode specially composed by Mr. Gordon Martin in Latin as the poration. 93,485,374 80,000,000t Boys' School Song as up till now Mercantile

the Boys' School has been content with accepting "Forty Year On" as their school song; the music for this piece has been written by Mr. Stanley Houghton and the spirit in which the boys rendered it showed |their appreciation of the efforts put Services, 11 am and 6 p.m.

forth on their behalf.

Preacher: Rev. E. G. Powell. On Wednesday the Chinese A Social Gathering will be held Y.M.C.A. opened their New in the Church Hall after the Library, General Liu Chen-nien Evening Service. taking the key and opening the main door. This building is a handsome addition to the Y.M.C.A. pile and we trust it will be well The following statement of the used by the youth of this Port. can verify for himself the fact that the Profit & Loss Account has been securities lodged with the Crown General Liu with others spoke on credited with a windfall item of Agents by the Mercantile Bank of the merits of the week undertaken $9.252.20 In respect of premium on India, Limited, against their notes by this Association and hoped that shares sold, and with another such in circulation, a published for this additional effort of the Com- item of $2,634.45 in respect of pro-general information under Section 5mittee to make the "y" as attrac- fit on sales of Plan From the of the Mercantile Bank Note Issue tive as possible to the young men same account he will also be able to Ordinance, 1911, (Ordinance No. 86 ascertain that notwithstanding an of 1911) increase in capital expenditure on Buildings, Plant & Machinery, de- preciation this year amounts to $175,136.35 39 against $213,050.28 last year, this year's figure being lesa by $37,922.03.

The above are not general state- ments incapable of being sub- stantiated, for, indeed, they are derived from a no less authoritative source than the Company's Report Any of my readers and Accounts.

It will thus be seen that if the Profit & Loss Account for the cur- rent year were shorn of the above credit items, and if depreciation had been charged at the same rate: as in the previous year, the result-

Visitor: "Can your husband write with this row going on?”

Author's Wife: "Not usually, but he's writing his war book.”—

Everybody's Weekly, London.

In addition Securities deposited with the Crown Agents valued at $150,000.

T

Security

Treasury Bonda pay- able @ 100

Amount

Latest

103-104

of the place would be thoroughly appreciated.

On Friday at noon the formal market price handing over of all the interests of the International Committee took place at the Committee's Offices in 1933/35 £180,000

when

the Heads of the various Bureau of the New Municipal Gov- Working profit. 1925, 1926 ernment accepted on behalf of the (Basic year) $405,639; 1928/1927. Mayor the

responsibilities of all 1927/1928, $530,941: municipal affairs $478,688;

throughout the $747,186: 1029/1930. Port for the future, and thus after 1928/1929, $769,379.

21 years' service the well known Increase. 1926, 1927, $73,049; and much appreciated International 1927/1928.

$52,253;

1928/1929, Committee-has-been--absorbed-by $216,245; 1929/1930, $22,193.

the Government to whom the best Rato of progress.1926/1927, wishes of the Community are ex- I per cent.; 1927/1928, 11 per tended as they take up the work on cent.: 1928/1929, 40 per cent.; behalf of both the Chinese and for- 1929/1980, 3 per cent.

eign residents. Average for the period.-18 per cent.

This week has shown us what is possible in the way of weather for we have experienced Thunder and

Sunday School: Kennedy Road, 10 a.m.; Taikoo, 3 pm,

FIRST CHURCH OF CHRIST, SCIENTIST.

(Branch of The Mother Church, The First Church of Christ, Scien- tiet, in, Boston, Mass, USA)

Macdonnell Road, below Howen Read Tram Station. Sunday Service, December 7, 1980, 11.15 a.m.

Subject: "God, the Only Cause and Creator."

The Sunday School is held on Sunday mornings at 10 o'clock.

Wednesday Evening Meeting at 5.30 o'clock.

Reading Room at above address, open:- ***Tuesday and Friday 10 am to 12]

Noon.

Monday and Thursday 5.80 to 7

p.m.

The Public is cordially favited to attend the service and visit the Reading Room

HONG KONG AUTOMOBILE ASSOCIATION,

BOOK YOUR SEATS,

you have not already booked you have a Booking Plan

of Tables may be seen in the Hong Kong & Peninsula Hotels.

Book early to avoid disappoint- ment.

PENINSULA HOTEL.

HONG KONG AUTOMOBILE ASSOCIATION BALL. Friday, 12th December, 1980, The Grill Room and Roof Garden having been reserved for the abova occasion, the Management beg to Inform their patrons that there will be

NO DINNER DANCE ON

THE ABOVE DATE

THE HONG KONG & SHANGHAI HOTELS, LTD.

THEATRE ROYAL.

December 12, 13, 15, 18, 19 and 20 at 9 p.m.

Matinee: Wednesday, December 17 at 4.30 p.m. (Children half price).

"THE YEOMEN

OF THE GUARD."

Booking at Anderson's.

AMERICAN

It should be noted that in the above stated average of 18 per Lightning, Rain, and Snow all from T12 to 11.60,at which rate/mands. Proof against fire, steel file

cent, the abnormal increase of 40 per cent, recorded in 1928/1929 is included.

within the past, six days, truly an exceptional week even for Chefoo.

SHARE MARKET.

WEEKLY · REPORTS BY BROKERS.

Realtye were steady with enquiries at $925, sales effected at $9.35. Chemical Diamonds are equal to real

Cotton Mille Ewo Cottons diamonds in brilliancy, lustre and. suffered a decline during the week hardness, Cut glasses like real dis-

there were sellers at the close.

and natrie, skid, Price per carat HK. $5 nett. Terms Cash or C,O.D. Public Utilities Hong Kong The American Chemical Diamond P.O. Box 360. PENANG, Trams were again steady at $18. Car Peak Trams remained, at nominal STRAITS SETTLEMENTS. quotations.. Star Ferries were in demand at $92. China Lights suffered a setback, having started with sales affected at $26.75 they gradually fell away $26 buyers,

EXCHANGES.

TO-DAY'S QUOTATIONS.

On London-

and $26.20 sellers (for old shares) Bank, wire

736

28%

The peak in the rate of increaso In the profits of the China Light and Power Co., Ltd., appears to have been reached In 1928/1929 and the Company would, indeed, be lucky if the average of 18 per cent. (swollen by the 40 per cent.

1/2 - cf 1928/1929) can be, maintained,

at the close. A fair business was Bank, on demand... 1/2. for, indeed, it is common know-

Hong Kong, Dec. 6. Messrs. G. A. Harriman's Week-done in Electrics at $79.75/$83.25 Bank, 4 months' sight 1/2 ing profit would not be the sum of ledge that since the drop in ex- $593,065.98 as shown, but rather change the local cost of produc- ly Share Report and Market Be- and at the close there were fur-Credits, 4 months' of almost anything, from view (Noon), December 6, 1980, (Partly paid) were very ateady Documentary, 4

ther buyers at $80.75. Telephones sight would be only $543,256.40, a sumtion quite inadequate for the total shoes to ships, has been forced up. says:

· months' sight dividend of 75 cents for the year, The popularity of the shares of Prices, with very few exceptions with buyers offering $29.16.

were Miscellaneous-Cements

On Pari... setback Light To put it Power and

Companies have rather suffered a absorbing $619,777.23.

considerably easier, but there On demand investors has during the week under review, in another way, if there had been amongst careful

4 months' no windfalls, and if depreciation been brought about by the realian- and the volume of trading at the were some buyers at $17.75 at the Credits, close. Hong Kong Ropes, were eight had been charged at the same rate tion that this class of security, opening was on a very small scale,

up to On New York- as the previous year, it would only when issued by companies operat- but at the close there le consider- very firm and were sold

$11.50, closing firm at $11.45. On demand have been possible to pay a analing in a non-competitive field, en-ably more activity and the dow Dairy Farms (cum rights) wera Credits, 60 days'

In most stocks has dividend of 50 cents by drawing joys almost an immunity from any ward trend

sight - on the undistributed profits almost general depression, the reason be given way to a firmer tendency all in demand at $27.25. Lane Craw- to the point of exhaustion.

ing the extensive diversification round, this may be due to Bears" fords were saleable at $3.75. Sin- The Company has grown out of of the interests of its customers, covering, or owing to the further ceres were asked for at $12.20.

Forward Settlement Days: recognition in the last few years. It follows, therefore, that bona drop in exchange. If the latter is December 23, 1930, January 27 and Its capital has increased at an fide investors expect a conserva-the cause, the strength will be enormous rate, Its capital assets tive dividend policy, in good keep still further maintained, and it is February 24, 1931. likewise show a great expansion, ing with continuity, and not sub- therefore very dificult to forecnat and whilst the natural sequence ject to the vicissitudes arising the trend of the market between would be an increase in deprecia- from causes totally strange to the now and the December Settlement, tion, the contrary has actually been service for which the Company although far more activity in ex-1 recorded this year.

was established, amongst which is pected to follow during the win- In the absence of reserves which over-capitalisation. The fact that ter months.

Banks-Hong Kong & Shanghai might be applied for the purpose, shareholders of an undertaking

Wong Hon-chui, alias Wong Pui- further investment of capital for may suffer as much from bad Banks again showed an improve-yin; late of No. 22, Fung Ming Test On demand fresh development must necessarily business as from the undertak-ment with buyers offering $1,720. Hong, Pak Hok Chau, Honam, Sovereigns (Bank's be a slow process, and shareholders ing's inability to maintain the Bank of East Asiaa were in great Canton, who died at Canton on buying rate) might just as well resign them rate of past dividends, due to pro-request at $118, with sellers, sek November 9, last year, left Hong Silver (per oz.) 15% selves to a period of years of low fits not progressing at the rate of Ing for $119, dividends, for, indeed, the policy any too rapid expansion of capital, Insurances-Both Canton Fires Kong estate worth $87,800. Pro Bar Silver in Hong of paying dividends up to the hilt has evidently been lost sight of and Hong Kong Fires had a rise bate of the will has been granted Kong

to two sons, Wong Kat-kwong and Copper Cash afarnings and more, must sooner by the management of the China to $1,205 and $1,200 respectively. Wong Kai tai, who are temporarily Copper Cents

Unions were asked for at $500 living at No. 519, Nathan Road, Rato of Native, In or later be brought to a halt for Light Co.

The future of the above under after transactions at this gore Yaumat. Everything is bequeath cibly,

It should be obvious to any taking is brighter than that of China Underwriters had enquires ed to the executors, another son Chinese Sub. Coin reader that a 75 cent dividend most companies in Hong Kong, at $3.25 with business done as

and the oldest grandson.

million shares,

MONEY LEET.

CHINESE ESTATE OF OVER $37,000.

On Bombay Wire

80%

On demand

80%

On Calcutta-m Wire.....

802

On demand.

BI

51%

rext year which, on the present and while the recent rise in values high as $3.36.8 Local estate to the value of would require bas benefitted me, I would, indeed, Shipping Douglas were very $5,200 was left by Sheik (or Shalk) $750,000, will be imposible unless gindly forego this transient im-setive with buyers in evidence at Ackher, formerly of the Naval

Steamboats, were done in the effective-profits of this year provement for a greater measure 281⁄2 ($649,235.40), shora of all dress of permanency of value, small qualities at $31.25. Union Yard, who died at No. 18, Morrison Ings should lamp to about The course of Ice House Street's Waterbosta were easier with sell Gap Road, Wanchal, on January 29, this year. He was late of No. 14, $800,000. This appears as impos Prices for shares of this Company era asking for $39.

Queen's Road, Central. Probate of Mining-Rauba opened the mar the will has been granted to the sible as the dividend of $1 per appears to have given to those ahare for the past year, which who move about there something, ket with buyers at $314, but were widow, Minonah (or Mimonah) was confidently indicated to skin to the shuttlecock, which is weaker with sellers at $811⁄2 at Ackher, alias Chun (or Chan) Pál- shareholders as a counter-blast to rapidly going out of fashion in close.

..: On Singapore......... On demand' ‚ ̈ ̈

On Manila On demand..

On Shanghai On demand

| On Yokohama→→

The Spirit

Christmas

Viva-tonal Columbia

4 DIFFERENT MODELS

Prices from $44.00

THE ANDERSON MUSIC CO., LTD.

ERMOUTH

MARTIN & ROSS!

ARCA

NOW TRY THE

"DRY"

MARTINI

VERMOUTH.

FOR COCKTAILS "with a bitė"

CALDHECK, MACGREGOR & CO., LTD. (Incorporated under the Companies' Ordinances of Hong Kong). Prince's Ballding, Ice House - Steset, Hong Kong.

Tel 20075.

G. FALCONER & CO., (HONG KONG) LTD. WATCHMAKERS & JEWELLERS DIAMOND MERCHANTS.

Union Building (opposite G.P.0.)

Agents for: ADMIRALTY CHARTS,

ROSS'S BINOCULARS and TELESCOPES, KELVIN'S NAUTICAL INSTRUMENTS, ENGLISH SILVERWARE, direct from Manufacturess, High Class English Jewellery,

William "Rae's EXHIBITION of

Dinner Services,

Tex 'sets,

Tea and Coffee Cups,

Crystal Necklaces, etc., etc.

at

MESSRS. KOMOR & KOMOR

opening MONDAY, 8th December.

The well-known Porcelain Manufacturers, Messrs. -- WILLIAM RAE of Kobe, Japan, will exhibit the latest

and most refined patterns of Porcelain for

FIVE DAYS ONLY

at

Art and Carlo Experts,

MESSRS. KOMOR & KOMOR

Chater Road.

St George's Bldg. The Exhibition will be open from 9 a.m. to 5 p.m. FOR FIVE DAYS ONLY.

STILL FIRST

1927

It's stood the test, And still- of whiskies is the best) "Tia "Scotch" but that's a trifle vigse

To get the BEST SCOTCH call for

“HAIG”!

58

16.10

FIRST STILL

1627

Par.

terest

Nominal 3% prem

34% P... 28% dis..

Rong Kong Sub. Goln Par

LONDON EXCHANGES

300 Years

Paris

Rugby,, Yesterday,

128.552

New York Brussels Geneva

4.85 19/82

84.877

25.0834

Milan Amsterdam Berlin

92.6512

-12.094

20.35

Stockholm

18:09

Copenhagen

18.15

Oslo

18:18

Prague

84.49% 1684

Helsingfors Madrid

198

43.85

The financial statement for the month of August 1980,

Ikas

Lisbon Athens Bucharest

108.25

875

818

Rlo

4 11/18

Landa & Real Estate Hong ong Shanghai Hotala, fate

88%

0484,763.01.

1/6

ong Kong

Spot

25 17295

ohama verga

ver Forwarde 152/

2/0 17/32

6. Ice House Street,

1579

Tel No. 20185:

Hong Kong

British Wireless, Service,

the idea of amalgamation with the China. I doubt that my nest-agg Docks Wharves & Godowns chun: Testator expresses the wish Hong Kong Electric Co., so much will have a similar fate, but it Hong Kong Kowloon Wharven that the estate shall be invested in the at last year, may be just as well to remember were done at $178% to $174% at until his youngest daughter comes To obtain a net pront of that the Company has already the opening of the market, but the of age, when it shall be divided pro- $800,000 next year, which is, ver been reconstructed once, and if demand has since eased off, with portionately between bis three haps, the lowest gure which its earnings good as they are buyers offering only $166. Provi- daughters would justify a dividend of 76 should not grow in a degree cor-dents were rather steady with henomenal buyers at 65.38 for old shares and cents per share, the profit on responding Working Account must rise to ap: growth of its capital, another re- $2.65 for newHong Kong & proximately $1,026,000, or an Im construction is not contingency Kowloon Docks remained unchang provement of last year of almost so remote that it should be put ed.

per cent How much ofthiazide, ent

be Coalised is a matter

Filt is obvious tha

Colt profte which

It not

Emulate

ends

COLONY'S FINANCES::

Vienna

Buenos Aires Mputevideo Bombay

Specially packed in decorated cases

containing

3 BOTTLES.

6-BOTTLES;

12 BOTTLES.

Suitable for CHRISTMAS and NEW YEAR GIFTS.

Sole Arentz

GANDE PRICE & CO. LTD.