1931-04-22 — Page 12

SPACIOUS FIREPROOF GARAGE STORAGE, CAR WASHING &

POLISHING

(Service Day and Night) AT VERY LOW RATES MECHANICAL REPAIRS BY

EXPERT ENGINEERS.

Motor Accessories, Spare Parts, Gasoline & Oils

THE NATHAN GARAGE

Wing Lock Building,

Nathan Road, Kowloon.

1 Telephone :56948.

THE

The

China Mail

Wednesday, April 22, 1931. Third Moon, 5th Day.

EST

BLUE FUNNE

LINE

FAST FREIGHT AND

REGULAR AND

【PASSENGER SERVICES |

LONDON SERVICE,

"PERSEUS"

"AENEAS"

28th Apr. For Port Said Marsgillae, C'asablanca,

London, Rotterdam and Hamburg

12th May For Port Faid, Marseilles, London, Rotterdam, Hamburg and Glasgow SERVICE.

LIVERPOOL FELPENOK" 20th May

2nd June THESEUS"

For Port Said, fionon, Havre, 'pool and Glasgow For Port Said. Harra, L'pool and Glasgow

PACIFIC SERVICE.

(via KOBE & YOKOHAMA.) "TYNDAREUS"

**PROTESILAUS

2nd May For Victoria, Vancouver & Seattio 98th May For Victoria, Vancouver & Festlic

INWARD SERVICE. *ACHILLES"

1

Due 27th Apt. For S'hai, Moji, Kobe, Yhama, Otym & Vladivostock "SARPEDON " Dos lat. May For 8'hai, T′tau, Taku & Daluy

PASSENGER SERVICE.

"GARPEDON " Bails 2nd May For 9'hal, Tiao. Taku and Dalny "AENEAS Fails 12th, May For S'pore, M’tlas and London

Also cargo steamers with limited passenger accommoda- tion at specially reduced faces,

For freight, passage rates and information apply to the undermentioned.

Alf bookings are subject to the provisions of the Company's Bill of Lading.

Daan

Butterfield & Swire,

Agents.

CENTRAL

THEATRE

TO-DAY TO SATURDAY At 2.30, 5.10, 7.15 & 9.20 P.M.

If You Enjoyed "THE LOVE PARADE” You Will Be Sure To Enjoy "THE BOUDOIR DIPLOMAT ”

The Affairs of

Master Laverd

HEAR

He Got a Job Making Love to the

Ravishing Beauties of Europe!

The sentional Kory

of a diplomatic di who left'a tril of

broken hearts la the courts of the morta tinent..

androval by Cal

le, J. Cantinky und

BETTY COMPSON

JAN KEITH MARY DUNCAN JEANETTE LOFF

Local Belmore "Lassanza Dieva

BOUDOIR

From the starting

Högs succes by Has

dolf Larbax and Look way by Feliz Chostwald wirkch'

MO

A* Malcomb

ST. CLAIR

production

DIPLOMAT

A 1931 Universal Super-Production.

BOOKING AT ANDERSON'S & THE THEATRE,

Printed and published før the Proprietors, The Newspaper Entarpula

(Limited, by DAVID CHRISTIAN WILSON, Business- Mänager, at

Sa. Wyndham Street, Hong Kong

BÌISHED 大英四月廿二號 禮拜三 中華民國辛未年三月初五日

1848

HONG KONG, WEDNESDAY, APRIL 22, 1931.

H. K. CONSTRUCTION formed as to the factors contribut TWO MORE BRITONS

:

COMPANY. Satisfactory Year's Working.

FUTURE ENTERPRISES.

A satisfactory year, which had fully justified the decision of the shareholders as to re-organisation of the company's capital, was re- ported by the Hon. Mr. J. P. Braga, who took the chair at the

annual general meeting of the Hong Kong Engineering and Con- struction Company, Ltd., this morning.

Two main factors had contribut- ed to this welcome improvement. The first was the great extent of building operations in Hong Kong during the past year. The second

110

ing to the satisfactory result achieved during the past year. There were two main factors in- fluencing these results. The first was the great extent of building operations carried in Hong Kong; and the second, the rigid economy exercised in all depart- ments and, in particular, the total elimination of all expenditure on

of the technical staff a gold basis, even where salaries

cerned; for it must be remember- ed that the Company's earnings

are al in dollars.

Silver Basis,

were co-

Except in the case of certain materials used in certain classes of work which we have to under- take and into which the gold fac tor enters, your Directors* prac- tical policy has been to think and act in terms of silver dollars only.

always, however, keeping in mine the inevitable contingency of sterl- ing obligations in the matter of replacement of plant and appli- ances. We will continue in your

Interest to pursue this policy.

was the exercise of rigid economy in all departments, to- gether with the total elimination of all expenditure on a gold basis. The policy had been to think and act in terms of silver dollars only

The gratifying results achieved had decided the Board that a

the modification of

company's policy in regard to its operations might be made. Previously, it had been decided to limit the scope of the company's interests, but the in- creased financial resources now available would permit the explored. ing of other enterprises.

CHAIRMAN'S SPEECH.

The Chairman said:-It affords your Board of Directors much pleasure to meet you to-day with results of the Company's working for the past year that may be con- sidered quite satisfactory. This is the first occasion, ainee the Tormation of the Company in 1922, that the Trading Account has shown a profit, and your patience, exercised over a period of nearly ten years, le now to be rewarded | with a small dividend.

The Balance Sheet and Profit and Loss Account give in detail the figures that need be present- ed to you in order that you may arrive at a correct idea of the position of your Company. There seems no need for me to comment on individual items in the Balance Sheet, although I should perhaps mention, with regard to "Sundry Debtors, Deposits, etc., less Re- serve $49,643.50," that the whole of this sum is well secured.

You will have seen from the Profit and Luss Account that, after charging Working Account with the comparatively large sum of $16.819.57 for depreciation, as well as providing for auditors'. Managing Director's and Dhectors' fees, the profit, together with in-

terest and transfer fees, amounts to $57,441.55, which enables your Directors to recommend-

year 1931.

Conservative Policy.

At the same time. I think it is due to you to state that the pre- sent abnormal building activity may not be of long duration and that remunerative contracts may not always be

within the meuna of your Company to secure. must be alive to the fact that com- petition has to be faced, and with its growing intensity, profits are likely to be proportionately reduc

We

DIE IN REVOLT.

Nicaraguan Situation Said to Be Improved.

U.S. WARSHIP REMAINS.

Rugby, Yesterday. In addition to Mesara. Roper and Manning, two British West Indian subjects who lost their lives in the Nicaraguan disturb. ances, two more Jamaicans, Lucaan-may and Eroddey, now reported to have been killed.

are

American official information states that the situation in East- ern Nicaragua is tending to be- come normal, but the American warship is still remaining.--Bri- tiah Wireless Service.

profitable field for the Company's In endeavours will be open to us. the absence of any expression of opinion to the contrary at this meet- ing, 1 will take it that you, in the⠀ best interests of shareholders as a whole, endorse the proposal of your Board regarding the change affect, Ing the Company's future opera- tions.

Loyalty of Staff. You will realise that your Direc On the other hand, every

tora best efforts may not be cap- effort will be made to retain valuable of achieving satisfactory re- fed clientele with which we main sults without the loyal support of

tain friendly and profitable con- nections.

Important Decision.

The year under review is not- able for an important decision affecting the Company. This de- cision was arrived at at an extra ordinary general meeting of share- holders, hald on September 10 last, when a resolution was sub- mitted to you for a reorganisation of the capital of the Company. The capital reduction was duly effected after all legal require ments had been complied with, with the satisfactory result that your Directors have since been able to place before you.

the

Company's staff. It is gratifying for me to record that we have on all occasions received willing assistance from all members of the staff, without which it would have been impossible to present you gurea like those I have just re- viewed to you.

the During

Sir .year

Elly Kadoorie, K.B.E.. was invited to, and accepted a sent on, the Board of Directors. On the departure an leave of Sir Robert Ho Tung, Kt., from the Colony, Mr. Lo Cheung- alternate shiu was appointed an Director in his stead.

and

I think I have fairly summarised to you all the important features You will recall the fact that at of last year's working results one stage of the Company's incorporated in the report existence, not as long ago, doubts statement of accounts for 1980. existed in the minde of certain now move that the report and State- shareholders 28 to whether the ment of Account as presented be Company should go into voluntary | adopted and passed, that a dividend liquidation or whether another of 15 per cent, on the issued capital' effort should be made for the auc of the Company (as reduced), or cessful conduct of your

business 30 cents per share, be declared in before winding up was decided respect of the year 1980, and that A private meeting of share- the balance at credit of Profit and holders was held on April 22 last Loss Account for the past year, less year to go into the question in all such appropriation, be carried for- Its bearings. The shareholders at ward to the credit of Profit and that meeting decided by a large Loss, Account for the year 1981. majority to carry on. The wisdom of that decision has been justified;

upon.

Mr. Joseph Gould, in second- ing the motion, congratulated the by the results shown in the report Board on the satisfactory results and accounts now under review.

Directors' Policy.

achieved. The company had now turned the corner, and was on a sound footing.

Other Business. The appointment of Sir Elly Kadoorie, K.3.E., to the Board, was

It will be remembered by those That a dividend of 15 per who attended the private meeting cent, or 30 cents per share, ab-I have just referred to, that your sorbing $28,660, be paid in res- Directora informed the share pect of the past year, and that holders that it was their policy to confirmed, on the motion of Mr. the balance of $28,791.65 be car-restrict the Company's operations M. H. Lo, seconded by Mr. A. Zim- ried forward to the credit of to certain classes of work only, for, mern. Proft and Loss Account for the the time being, We considered at Messrs. J. Scott Harston and the time that such a policy would J. T. Bagram were re-elected direc- be a wise and prudent one, as in the tors, upon the motion of Mr. M. A. It is in pursuance of a conser- then financial position of the Com- Figueiredo, seconded by Mr. A. H. vative policy that your Directora pany it might not have been in your Baato. have 'decided to write so large a beet interests to embark on large Messrs. Lowe, Bingham and Mat- Bum as $16,819,57 off Buildings, undertakings. That polity, how. thews were re-elected auditors to Plant, Machinery and Equipment, ever, in the opinion of your Direc the company, Mr. A. A. Botelho.j and Motor Trucks and Junk, etc. tors, may now be modified.

who made the motion, being These various assets now stand in We feel, with the Improved seconded by Mr. M. A. Gomes. ̧ the books of the Company at financial resources we now possess,

Those Présent. figures considerably below replace that we are justified in recommend- Supporting the Chairman were ment cost. In view of the rapid- ing a change of policy in sub- Messrs. J. Scott Harston, J. T.} ly deteriorating nature of the stitution for that which restricted Bagram, Lo Cheung-ahi (direc- Company's equlpment and'appli- | us to certain classes of work that tors), Mr. A. R. F. Raven. (techni- (ances, I hope you will agree that may not always come our way and cal adviser), and Mr. B. Alves

the policy I have just mentioned that could only be secured on an (secretary).

Shareholders is the correct one, rather than the intensely competitive basis. I need

present were paying away of a larger percent hardly state that this change of Messrs. M. H. Lo, A. Zimmern, age of profit in dividend to share-policy to made in the best interests A. A. Botelho, M. A. Figueiredo, i holders.

of shareholders in the view and In M. A. Gomes, Joseph Gould, and You will probably like to be in-the belief that a wider and more. A. H. Basto..

AA

BAYER

Don't let a Cough

Torture you

take

RESIVAL

GIRLISH CHARM

by a

SAFE METHOD Beautiful women have now an op- portunity to gain and preserve figure loveliness In an entirely harmless, easy way,

LEICHNER SLIM FIGURE

AND

BEAUTY BATH "1001.”

THE PHARMACY

Asiatic Building.

Tel. 20945.

AMUSEMENTS &

AT THE

QUEEN'S

SHOWING TO-DAY

At 2.30, 5.10, 7.15 & 9.20.

FLORENZ ZIEGFELD A LAUGH A MINUTE!

X SAMUEL GOLDWYN A rib-tickling entertainment

К

EDDIE

with the master of mirth and a bevy of gorgeous beauties !

GANTOR

WHO

Mork by

WALTER DONALDSON

Larks by GUI KATI

Mustial Caned

WILLIAM ANTHONT-

MCGUIRE

QAL TECHNICOLOR

-NEWSREEL

FOX

A

UNITED ARTISTS.

PICTURE SENSATION,

·ADDED ATTRACTIONS-

MOVIETONE NEWS

presenta

· LATEST EVENTS

in SOUND.

MUSICAL

AN

IRISH

FANTASY

A

UNITED ARTISTS FEATURE

· NEXT CHANGE

WANTED! DEAD DR

The True Life Story of a

Western Bad Man

The one big, stirring, outdoor story of the Great West. King Vidor, director of mighty screen plays, has created a master-piece of thrills, blended with a love- story of surpassing power.

ALIVE

BILLY THE

KID

A Man Goldwyn-Mayer

KING

VIDOR'S

TALKING

mighty production. with JOHN MACK BROWN

WALLACE BEERY

Kay Johnson, Karl Dane,