1931-03-18 — Page 1

Putines Meer V

MWalim

Library, Supreme Corrt

The

SIX China Mail

FREE WHEELING 8TH ADVANTAGE.

Free wheeling aids to safety, for slip- page and skidding on slippery roads.

and curves are less when the wheels are freely rotating.

HONG KONG & SHANGHAI HOTELS, LTD.

(Incorporated, in Hong Kong.)

No. 27,748

NO COUNTRY CLUB FOR DEEPWATER BAY

PROPERTY STILL UNSOLD

NEGOTIATIONS WITH GREEN ISLAND CEMENT CO. PROVE ABORTIVE.

INDUSTRY'S

VISSICITUDES

„BLISHED

1946

HONG KONG, WEDNESDAY, MARCH 18, 1931.

DAIRY FARM'S

ACTIVITIES.

Necessity for Milk In Dietary.

port and accounts said:-

IMPERIAL AIRWAYS

SERVICE FROM INDIA TO AUSTRALIA.

TO-DAY'S

DOLLAR The closing rate of the dollar on demand, to-day was 1/-

PRICE $3.00 Per Month.

DISTRESSED VESSEL

A MYTH.

Police Launches and

"Tug Go Out.

WILD GOOSE CHASE,

Two Polico launches and the Gov

out on a wild goose chase last night and did not return until early this morning.

HOME DEFENCE ernment rescue tug Kau Sing were

BRITAIN FIFTH-RATE AIR POWER.

London, Yesterday,

TENNIS PLAYERS

Your greatest worry solved by DUNLOP RUBBER STRINGING

Impervious to Moisture.

No Preservatives Required

Retains Resilience Perfect Tension

Uniform Thickness

No Joina

Stocked by all Sports Dealers. TRY IT AND BE SATISFIED,

The Dunlop Rubber Co., (China) Ltd.

Telophone 24554.

Pedder Building.

HONG KONG ELECTRIC COMPANY

DIFFICULT YEAR IN REVIEW

SATISFACTORY RETURNS IN SPITE

OF DOLLAR DROP.

POSSIBLE PRICE REVISION

An eminently satisfactory year, considering the depressed state of affairs obtaining in the Colony, was reported at the annual meeting of the Hong Kong Electric Company this morning.

SOURCE OF SUPPLY.

Congratulations to the Board of Directors, the management ard all responsible for the running of the Dairy Farm, Ice and Cold Storage Co., Ltd., was expressed by Mr. F. Austin to-day in second.

Alarm was sent out by the Tsun ing the adoption of the report and

Wan Police Station that a ship was nccounts at the annual meeting

in distress in Capsulmun Paas and The of the Company. He said that he,

was sounding its siren. In spite of current rumours that the property at Deepwater Bay in common with many people,

Water Police and Harbour Depart ment immediately made arrange- belonging to the Green Island Cement Company, Limited, and aban-thought that the Dairy Farm was one of the best-run concerns in

In introducing the Air Estimments to send assistance, and at the doned by them some time ago, was to be sold to a private concern the Colony.

same time word 'was sent to get the Mr. J. P. Warren, Chairman, inates in the House of Commons to-tug Henry Keswick ready to go out for the purpose of establishing there a "Country Club," it was

Consumption figures showed a gratifying increase, and Mr. proposing the adoption of the re-day, Mr. F. Montague announced if needed.

The Police launches and the Kau J. H. Taggart, in the course of seconding the adoption of the report, Sing searched along the Pass throughout the night, whilst the expressed the pleasure of shareholders at the returns. It was also Henry Keswick kept up steam ready good to note, he added, that “saturation point" was still “only a phan- to leave harbour as soon

as word tom." Toward the middle of last year the Company was approached

was received that she was requir

The possibility of a revision of price to consumers, in view of ed. This message never camo by the Sports Club, who were desirous to obtain an option to pur-surpassed and that was in 1927 The scheme had been worked through.

the exchange drop, was mentioned by the Chairman, who added that chase the land and the remaining buildings comprising the houses which was really an abnormal out on the assumption that the The vessels which searched in the situated on the hill overlooking the site. Owing to various causes, car owing to the presence of ad-stage from Karachi to Calcutta Pass could find no distressed vessel no increase would be made if it were at all possible to avoid it. In

ditional troops in the Colony. One would be operated as an Indian and finally returned to harbour.

any case, consumers would have ample and reasonable notice, if such however, negotiations proved abortive, and the land and buildings of the outstanding features of

Possible Explanation.

a step had to be taken... are still undisposed of.

this year's working is the in- State service in conjunction with

A possible explanation is that crease in milk sales, which is most Imperial Airways. gratifying to all concerned as it

the Tai-O ferry launch had The Governments concerned wittingly caused the acare and the were now considering proposals. subsequent wild goose chase. It is learned that she usually calls at Mawan to pick up passengers for

The night was very | dark so she must have atopp-

stated by the Chairman of the above company (Mr. J. Scott Harston) at the annual general meeting in the Exchange Building this morn- ing, that the Board had met with little measure of success in the matter of the disposal of the land.

that a tentative scheme had been) Gentlemen, Your Directors are pleased to submit what, in prepared for a weekly air mail their opinion, is a satisfactory service between Calcutta and Aus- statement of the year's working. tralia to link-up with the existing The balance of profit shown this Britain to India service. year has only once previously been.

The Chairman added that, in spite of intensive competition and the vicissitudes of the industry, the Company has not only held its shows that the public, particular markets, but also opened up' new avenues likely to be of benefit only the Chinese, are beginning to realise the absolute necessity of the completion of the new plant, whilst the demand for Green Island milk in their dietary and, further- cement was increasing.

more that discrimination is ne- cessary with regard to the source of-supply.

HIGH COST OF

PRODUCTION

our late

dend of $1.50 per share on 200,000 shares absorbing To add to General

Reserve

Air Supremacy.

Sir Samuel Hoare urged the Government to press for a gen eral scaling down of air expendi- ture at the forthcoming Disarma- ment Conference at Geneva, and seriously to give its attention to $300,000.00 the question of the Anglo-Franco- Italian agreement to reduce air expenditure and avoid an increase

20,000.00

un-

a

the ferry the

to go out to hunt for mythical distressed vessel.

FAIR WEATHER.

The Royal Observatory's weather report to-day states:

The anti-cyclone is contral to the North of the Lower Yangtaze Valley.

ង.

The

FINE RECORD OF

CHAIRMAN'S SPEECH.

The Chairman sald; Gentlemen:The natt

profit,

SERVICE

factory result. You will see that the new building during 1929 was depreciation has been increased by constructed in such a manner that some $38,557 and his has resulted it can be converted to the high- in a net profit showing a decrease er steam pressure with increased of $66,304 when compared with the economy in operation, and this previous year.

A Difficult Year.

Home Defence..

Hon. Mr. C. G. S. Mackie and, although a complète repair of (Chairman of Directors) presided. this machine was possible, your Mr. Montague stated that dur- Hong Kong.

Directors decided to dispose of the ing the forthcoming financial year c off Mawan in Capsulmun

same and to proceed with the in- three further squadrons would be Pass and Bounded her siren

stallation of a further turbo-al- The profit on working for the provided for Home defence, mak- to attract the attention of any

ternator in the new turbine room. year amounts to $593,507.83.

would-be passengers and get them

It was also considered advisable · Depreciation on buildings and ing 42 squadrons with an

ap- to put out to her in sampons.

after providing $687,165 for depre- to take advantage of the greater Supporting the Chairman at, make further reference later.

plant has been allowed for on the proximate first line strength of

ciation, is $1,664,449.70 and with economy now obtainable from the This, it is understood, is the meeting were the following] Turning to the debit side af the same scale as last year to the ex- about 490 aircraft, only two-thirds practico followed by

the sum of $162,886.12 brought for higher steam pressure in general ward from last account we Directors: Messrs. H. Taggart, Profit & Loss Account, you will tent of $145,918,04 and $15,000 of which belong to units of the launch for some time, when

have use and to adopt the pressure of R. G. Shewan, C. A. da Roza, Li observe that л sum of $4,166.66 has been placed to the credit of

Last night, ap-

$1,767,395.82 for appropriation, and 400 lb. per square inch for the Tse-fong, Conrad F. Mendham, was paid to the General Managers Bad and Doubtful Debts Reserve regular Air Force, others being night was dark.

parently, she had 'sounded her siren To pay a dividend of

with this we propose :..........

new plant. Tenders have been ob- and the Secretary, Mr., Allan-this representing the amount Account. You will note from the auxiliaries.

tained and contracte entered into more persistently because she had Keith. The shareholders present due to them by way of commis-Profit and Loss Account that there This is 10 squadrons fewer than not received word from ahore, may

$2.50 per share ab

for the supply of a 12,500 kilowatt of is a reduction of $19,000 in divi-the original scheme authorised be because there

sorbing were Messrs, A. Figueiredo, T. D.jsion for the first two months

$1,125,000.00 turbo-alternator with two boilers were no passengTo place to Reserve.. Chan, A. Fong, F. E. Silva, F. L. the financial year. Furthermore, dends on investments as compar- for completion by 1930.

Great era for her that particular night, To carry forward to

500,000.00 suitable for this higher pressure, This Britain is fifth among Silva, C. S. Remedios, A. H. the Rem, $20,833.34. appearing ed with last year's figure.

the air and subsequently she continued on

together. with the necessary Carroll and A. L. Shields, . * under the bending, "Compensation is due entirely to the fact that Powers of the world.

next account ...... 142,886.82 switchgear and auxiliurics, and It The report and accounts for to General Managers," represents, the Company in Shanghai, in While British air expenditure ous sounding of her siren had at-than 1929 by $25,166 and in view of in operation early in 1932.

her way, unaware that the continu-

The profit on working was less is hoped to have this new plant the year, which show a profit of for the year 1930, the proportion which we are interested, paid a has slightly decreased that of tracted the attention of the Police the increased expenditure general- $243,122.13. having been taken as of the compensation for loss of smaller dividend this year.

The British Thomson-Houston The France has risen by between 130 at Taun Wan and they had sent out by this may be looked on as a antis-set No. 6 which was installed in read, the Chairman then read the office, voted to Messrs. Showan bainnce at credit of Profit and and 140 per cent., and the United the alarm which caused three Auditors' report, which is as fol- Tomes & Co. at the extraordinary Los Account amounts to $327,- States between 150 and 160 per vessels lows:-

general meeting of the Company 364.63 which, with the sum of cent. "We report that we

held on April 23, 1930. The Inst $24,064,41 brought forward from have examined the above Balance item on the debit side of the last year's account, makes a total Sheet with the books, vouchers Profit & Loss Account represents n of $854,418.34 for appropriation. Your Directors recommend and securities of the Company, retiring allowance to and that in our opinion such Works Manager, a matter to which dealing with same as follows:- Balance

I will also make further reference Payment of a divi- Sheet is properly

later. drawn up so as to exhibit a true

Turning to the and correct view of the state!

Balance Sheet, of the Company's affairs at there is, I think, little calling for December 31, 1980, according comment, as most of the headings to the best of our information are self-explanatory. I would like, and the explanations given us, however, to draw your attention to and as shown by the books of the item "Loan Account & Inter with which I trust shareholders of air armaments in the future.

Mr. Montague, in reply, said will concur. If you will refer to the Company. The various est Accrued $108,537.22" which the Balance Sheet you will find he hoped that the question of air stocks are as certified for quan-appeared in the former Balance tity by the Works Manager, Sheets for the year ended De- amongst the liabilities two items disarmament would be satisfac- each for $367,380. These repre- torily settled at the coming Dia- and which has and for value by the Secretary. cember 31, 1929, We have obtained all the in-now disappeared, having been re-cember 31. last on the 48,984 new

sent the payments received to Dearmament Conference.

It was quite impossible to con-- formation and explanations we tired during the financial year issue shares applied for up to template beginning a contest for have required."

that date. The item Application air supremacy on the part of Bri- Liabilities.

Account New Shares Issue, will|tain against other countries Turning to the liabilities side of be transferred to Capital Account|combinations of countries, the Balance Sheet, you will ob- in the 1931 accounts but the item The House of Commons agreed] The Chairman in his address serve that an Exchange Fluctun- Premium on Shares, representing to the Air Estimates.-Reuter. aald. inter alia:-From a perusal tion Reserve of $472,578.50 has the premium of $7.50 per share on of the profit and loss account, you been created, which Item requires these shares will remain as a re- will observe that the balance of some explanation. As you were serve.in the accounts unt!! auch Working Account (after effecting informed from the chair at an ex-time as it is considered necessary depreciation to the extent of traordinary general meeting held or advisable to utilise it.. $92,147.47 and after providing for last year, your Board entered Into In view of the excellent results the cost of maintenance of the exchange contracts in the amount shown I feel sure that you will ex- Deep Water Bay property), of £200,000 at an average rate of dorse a bonus of 10 per cent. to the amounts to $76,702.11. Notwith-about 1/10 d. covering commit-staff on their salaries in recogni- standing the fact that this figure ments in connection with the new tion of the hard work and loyal sup- is appreciably less than that plant which is being erected by port given. When on the shown for the preceding year, it is Mesara. Vickers-Armstrongs. Ltd., subject of the atuff I should the opinion of your Board that this Later, however, satisfactory ar- like to mention that Mr. result may be regarded as satis-rangements were effected with C. Makeham, who served the factory, having regard to the ago Messrs. Vickers-Armstrong, Ltd., Company faithfully and well for of the existing plant and the high in the matter of deferred pay the past 36 years, retired from the cost of production consequent ments, and in respect of the 'above Company's service during the 'year thereon, and also the fact that, mentioned amount' of £200,000, and has settled down In Australia, owing to the modernisation of our £100,000 was remitted to London where, I am sure, we all hope he Works at Hok Un, which is now to meet payments as they fell due, will be long spared to enjoy his re- being proceeded with, expenditure and the balance of the exchange tirement.. on the existing plant has been re-contracts entered inte were

CHAIRMAN'S REPORT.

duced to a minimum,

Favourable Rates.

menta

under review.

Ilquidated at favourable rates,

To Carry Forward'.. 31,418.94

Effect of Exchange.

Like all other concerns in the

or

CAPT. KEAN BLOWN BRIDGE.

Tragic Tale of Founding of the Viking.

́TWENTY-FIVE KILLED,

The depression has passed to the East of Tokyo.

Strong monsoon along the S.E. Coast of China and over the N. China Sea.

Forecast strong; fair.

N. E. winds,

Rainfall.

Rainfall for 24 hours end- ed at 10 am.-1.17 inch. Rainfall since January 1—3.89 inches against an average of 4.58 inches-deficit 0.69 inch.

Temperature.

The temperature at certain specified centres this morning at 6 o'clock was:-

Hong Kong

60

Macao Pratas Island Manila

68

68

77

Foochow

56

50

28

36

Bwatow

Chefoo Shanghai

As

conversion will be undertaken 'sa soon as the new plant has been You will realise that the year put into commission. just completed has been one of dif-l The old No. 1 turbo set has been ficulty in many ways owing to the sold at a proft and the balance fall in the value of the dollar and at the credit of this account the resultant increase in the cost of amounting to $7,629.76 has been salaries and Various works. Įplaced to the credit of No. 2 turbo-

public utility Com-alternator account. pany we should be loath to In-

London Office. [crease our charging rates but an Since we met last year Mr. salary compensation to the staff is W. H. Wickham hos handed over a very large items in the expenditure the London representation of the owing to the present state of affairs Company to Mr. Marsh.

Mr. and as our contract prices for coal Wickham was originally connected and other necessary supplies are with Mesars. Johnson & Phillips greatly increased there is just the and came to, Hong Kong on busi- possibility that we may be forced to ness connected with that firm in revise the price of current. Be 1888. About that time it was de- fore taking any Buch step, how-cided to form the Hong Kong Elec- ever, the Company would give con-tric Company, Limited, and advan- sumers reasonable notice,

tage was taken of Mr. Wickham's Referring again to the figures for presence in the Colony to get him 1930 the output was 34,600,000 to draw up a general scheme for units and this chowed a gratifying electric lighting. His proposals Increase of 7 to 8 per cent. The were adopted and he was respon- Inumber of consumers also increas sible for the erection of our ori- ed by over 2,000 making a total of ginal station. On the completion nome 32,677. It was largely owing of same he was appointed the first to these increases that the results Manager of the Company and we shown in the year were as satisfac- have had the advantage of his tory as they have turned out to be. valuable services for a period of

Government rates have increased over 40 years.

and ace, to be further increased in It must be very gratifying to the future.

Mr. Wickham to have watched the You will notice that cash at hand continual growth and prosperity and with the Hong Kong and of the undertaking which is due Shanghai Banking Corporation was in no small measure to his care- signalled that she had found the $1,411,798 sa agaizat $587,619 at ful guidance in the earlier stages St. John's, Newfoundland,

Bostonian, Henry Sergent, with the end of 1929, A, considerable of its carcer. two other men miraculously alive portion of this sum would, in the

Mr. Wickham's Work. Yesterday..

in the abattered sealer's store, ordinary course, have been placed

When Mr. Wickham retired your Captain Keanand; 117 survivors which was the centre of the ex-on fixed deposit, but rates for short Directors requested me to convey from the Viking landed on Horse plosion-Reuter."

term deposits offered little Induce to him an expression of their ap Island after many hours of sufler-

ment owing to the easy state of the preciation of the work done by money market.

him during his long and faithful" There are, I think, no further service. This appreciation has The ice breaker Inogens and two points in the accounts which call been further marked by a small. presentation. We Hope Mr. Wick- Changes In Plant.

ham way be long spared to enjoy

Earlier. News.

New York, Yesterday.

thus showing an exchange profit to Colony we have been forced to releeing on the Idofibes.. During the year under review, the Company of $427,678.59, which the price of our commodities as a Capt. Kgay asid that he was your Board disposed of the major amount your Board has deemed result of the fall-in-exchange-blown from the bridge by the ex-Government relief ships, the for special remark. portion of the Company's invest prudent to utilise for the creation Fresh milk, for the first time since plosion and flyred by falling on Sagona and Franklin, are rushing]

at favourable rates, thus of an Exchange Fluctuation Re-1920, has been increased in price the ice. augmenting the Working Profit by serve, In this connection, I may but only to the extent of one cent!

to rescue the Viking survivors, On June 21 the No. 1 alternator his well earned leisure. (Ap 8. sum of $149,270.05 the proceeds add that, under the arrangements per battle.

The ciuema director, Friessel, who are still buddied on the ice. developed a fault whilet on land plause.) This reflects credit- of such liquidation being utilised entered into with them, no further ably on the polfey followed where and the explorer, Sergent, are Flares and bonfires have been kept and the ensuing fire destroyed the į

In view of the difficulties which " for the purpose of financing pay- remittances will be due to Mesara. by all animals are withdrawn from among the missing. Capt. Kean burning on Horse Island all night high tension windings of the ma- have been experienced during 1930 ments in connection with the new Vickers-Armstrongs, Ltd., until the the bard, immediately they become estimates that the dead number long to aid the survivors, who had chine. This turbo set was pur- your Directors consider that the only their light and that of the chased in 1918-1919. For some results have been satisfactory and As you will observe from the Deep Water Bay Site.

unprofitable. Our herd, thanks to

blaring vessel to assist them in years, owing to its small capacity I once more wish to express their credit side of the Profit & Loss When addressing you at the lasting methods adopted, is now giving this policy and to the scientific feed-

their perilous passage across the, and relatively high steam consump-appreciation of the services ren- Later Account, the Working Proft was annual general meeting, your Chair-

fce floer.

tion it has only been kept in aer-dered by the Manager, staff and also augmented by the profit on man outlined the polley of the thought of 10 years ago. Unfor results which were almost un-

When hope was abandoned, of: It is not known how many have vice as part of the spare plant, w workmen and with this I am sure the sale, for demolition purposen, Board in relation to your Deep tunately, however, production costs rescuing any of the three members been crushed or drowned in fall- In view of the steadily increas the shareholders would like to as- of the buildings and machinery at Water Bay undertaking, and, in

of the American film party aboard ing between the places of shifting ing output we think our reserve sociate themselves."> Deep Water Bay, to which I wil (Continued on Page 9.)!

» the Viking, the relief Ship Bagona ica-Reuter's Amerigan Service. „ power should not be diminished

Installation.

later half of 1932. N

(Continued 'on Page 9.)

about 25,

“Miraculously Alive”

(Continued on Page 4)