1932-03-31 — Page 7

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THURSDAY, MARCH 31, 1932.

Company Meetinga,

UNION

WATERBOAT

CO.

THE CHINA MAIL

of the completion of No. 1 Dock ST. GEORGE'S SOCIETY

(and lack of revenue.

Interest

$50,000 charges are more than in 1930 and the whole of same this year has been charged to

EARNING POWER GOOD; BUT WORKING working, the extension to No.

EXPENSES HIGHER,

Due to Exchange Slump.

cost

of the led towards the reduction of the At the annual meeting Union Waterbout Company, which of the New Plant, and will be so was held yesterday afternoon, the applied at a later date. Chairman, Mr. J. P. Warren, said Inter alia:-

"After writing off $8,365.57 against depreciation of boats and adding $1,080.48 to the Insurance Fund to cover the Company's pro- portion of Insurance, the net profit for the year is $19,293.75, which together with $4,114.65 brought forward from last year, makes a total of $23,408,40 for appropria- tion.

"It is proposed to deal with same as follows:-To pay a dividend of 60 cents per share on 38.813 shares

1

MEETING.

Informal Dance at Peninsula.

Dock being now completed.

"After bringing'in $300,000 from reserve and writing off deprecia- tion on Buildings and Plant, there is a balance at credit of profit and

The 1058 of $5,405.88 which with $150,282.08 brought forward from George's

MR. E. COCK'S ADDRESS.

of St annual meeting

Society was held in

THE EUROPEAN Y.M.C.A.

Annual General Meeting Yesterday.

SOUND FINANCIAL POSITION.

The Hon. Mr. W. E. L. Shenton presided at the annual general, meet- ing of the European YM.C.A.,

inst year, leases $155,687.96 to be Messrs. Jardine, Matheson's Board which was held in the new. West carried forward to next account.

It was decided Lounge of the Kowloon Building, Depreciation amounts to $130,- Room yesterday.

last evening. Production Started.

866.87 as against $143,018.50 and is that, in the place of the Ball aban-

After dealing with the various Expenditure on the New Plant (considered ample.

doned from Twelfth Night, an inactivities of the Association, includ- of the Balance has, to the date

Plant and Buildings, formal dance should be held at fieling Sport, and the Literary and to $2,274,457.14, Sheet, amounted

Your plant and buildings are in Feninsula Hotel of St. George's Debating Section, the Chairman as also im- excellent order and the upkeep of and this large sum,

went on to refer to the opening of on other ussets, portant amounts

eame has been paid out of revenue. night.

the new wing by H.E, the Governor, have been met out of our resources

During the year we constructed Mr. E. Cack, presided and, ad-remarking that a pleasing feature except to the extent of the

over eight small vessels mostly motor dressing the meeting said inter of the new wing was that it had draft

driven, which have proved satis-

made possible the formation of on this subject. I would mention factory to their respective owners, alia:-

Ladies' Section: He then pro- ceeded :---

with our Bankers, Whilst

that the Plant actually started pro-

There were no very extensive

I

A

"We had the extrome mortifica- during Cement on October 9 last repair jobs, but we dry-docked over tion of having to put off the Ball

Finances. taken over year, and was

by us 600,000 tons of shipping, which which it has been our custom to

"Our Anancial position is satta- from the Contractors on January considering the times is fairly

As the Plant was actuak

hold on Twelfth Night. Quick de-factory; the excess of, income over. 22, 1932,

satisfactory.

the year was which will absorb $19,406.50; {ly producing in October last, your We have recently contracted for cision was necessary and we had expenditure for

$7,492,66 and after transferring Board decmed it advisable to com-some new construction work which to consider and choose between in- $20,000 from the general surplus to mence allowing for depreciation as will help to keep some of our ship-

definite postponement or cancella- the new premises fund and writing from that date, such depreciation builders employed in 1932, but en- temg shown in the Balance Sheet

a fort-off $5,070 from the buildings, $130 quiries for new work, particularly tion. Postponement for

fram the tennis pavilion, $3,650 in the sum of $43,370.51. The of any importance, are few and far night might not have been suffi- from the furniture and fittings next instalment our debt uf

between, and the competition for cient, for a month would have $1,618.75 from the tennis court and £125,000-to Messrs. Vickers-Arm-them is considerable.

in

coincided with the Chinese New $112 from the garage we carry for- strongs, Ltd., will fall due February, 1933, and the balance at: regular intervals thereafter.

Carry forward to 1932 $4,001.90.

"The working Recount shows that 548,675 tons of water were sold as against 521,622 in 1930, the revenue being $8,309.50 in excess of last year, which proves that the Company's earning power has not declined but our working

Krosa

of

1.

No Dividend.

TRY

IN A PERSIAN GARDEN Complete Song Cycle

ALBUM WORK-

DORA LABBETTE MURIEL BRUNSKILL

HUBERT EISDELL HAROLD WILLIAMS

Columbia RECORDS

FIVE RECORDS

IN ART ALBUM.

THE ANDERSON MUSIC CO., LTD.

Ice House St.

Tel. 21322.

ROSE'S LIME JUICE CORDIAL

AND

COATES'. PLYMOUTH GIN

SHAKING!

to

Sale Agentsrome -

expenses are $22,328 higher, most

He welcomed back Sir Henry ly due to the slump in exchange.

Be! It is a matter of great regret to Year period, six weeks would have ward $11,159.21.” The main increase is in the Marine fore leaving the subject of the New your directors that it has been im-come to Race week and proximity

the various officials, and concluded! Insurance of our boats which cost Plant, I would like to draw your at possible to declare a dividend since to other National functions, and Pollock, and expressed thanks $7,139 more than in, the previous tention to the fact that the Cement the year 1924, but some of you, if since so many of our best support-Organisation, unless it is backed

of their higher

have perused the Balance ers book their engagements for year on account

produced therefrom amply passes YUU

bers, will never make A successful value in Dollars due

to low ex the 1931 British Standard Spec Sheets of similar companies in weeks ahead, it appeared, likely by the loyal support of the mem- change. This has, however, re-fication for Portland Cement, which other parts of the world, will, I am that to defer would spell failure. Y.M.C.A. I am sure that this sup- much stricter sure, not be too pessimistic of the There was no time to canvass for port will be continued and that the adjusted itself by about 25 per cent.

members' opinions and the com- future prospects of our Association "on account of appreciation in ex-specification is very

in every way than its predecessors, future of your Company.

During the past year it became mittee was reluctantly compelled are such that we can confidently say change, and this saving will be re-

With regard to the Old Plant at: Sected in this year's accounts."

On the proposal of the Chair- Hok Un, manufacture of Cement apparent that our earning power to abandon the Ball. If any mem-that the best is yet to be' in the man, seconded by Mr. W. Van Eps, therefrom will be continued as long was not strong enough to cover our ber feels disappointed he may find future of the Hong Kong Y.M.C.A."?

no!

cverhead and certain economics some consolation in the contem-

Election of Officers. us the present demand exists, after;

Then followed the election the report and statement of ac-

which the question of its dismantle-were put into foree which have re-plation of my greater discomfiture.

"We had an earlier disappoint three directors. Mr. J. C. M. Gren- counts were carried unanimously.

ment in having to abandon our ham proposed that the Dean the Mr. Warren was supported by ment and its replacement by a third flocted themselves in the last quar-

Even these were not considered "Garden Party" at the Hong Kong Very Rev. A. Swann, Mr. C. C. Messrs. C. Gordon Mackie, R. G. modern unit, similar to the two ter's working.

recently installed, will

have Cricket Club but the concert to the Hickling and Mr. P. S. Cassidy be Shewan, W. H. Lebert and T. units

on the evening of St elected. Commit- doubt has the full consideration of, sufficient and further cuts Yamamoto

The proposal was second- (Consulting

been made in Sterling Salaries troops

I think, aed by Mr. A. C. Jeffreys and car- tee), Mr. D. E. de Sousa (Secre- your Bourd.

ried unanimously. tary) and Messrs. J. Owen Hughes,

"My term as President of St.

Mr. P. S. Cassidy, in proposing W. Van Egs, and A. W. Hayward

George's Society finishes now, A a vote of thanks to the retiring Pre- (Shareholders).

con- new lamp will be kindled from the sident, the Hon. Mr. W. E. L. Shen-

GREEN ISLAND CEMENT CO., LTD.

I will now formally propose that which, together with the previous George's Day was, the Report of the Directors and reductions, should reduce the over-pronounced success. the Accounts for the year ended head by approximately $250,000 per December 31, 1931,

as presented, annum.

This of course has meant

be adopted and that the appropria- tions recommended by your Direc-siderable sacrifices on the part of flame I have carried for the year. ton, spoke appreciatively of his ser- our Sterling Salaried European I am deeply sensible of the honour vices during his two years of pre- tors, namely,

Staff, and while regretting that we you conferred on me a year ago sidency.... are not in a position to pay a and I beg to thank the Past Pre-

To pay a dividend of 45

+

cents per share on

New Plant Now Producing. Mr. C. A. da Rozs, who presided at the annual meeting of the above at noon to-day, company, held etated, inter alia:-

The result of the year's working is a profit of $325,422.12 after providing for depreciation in the sum of $122,494.23 and paying for and extraordinary

non-recurrent charges for re-conditioning certain

This, I of our old assets. pleased to say, is a very decided im-

the figures

upon

am

for

the Old Shares .....$180,000.00 dividend, your Directors trust that sidents and the outgoing commit

To pay a dividend of 6

cente the New Shares

per share

on

To place to General Re-

serve

To place to Reserve for

Staff Pasanges

To

carry forward to New Account

be carried into effect.

Seconded by Mr. E. M. Raymond and carried unanimously.

1

Personal Par.

BM

Shareholders will realise that the tee for their help and support beat is being done to keep this during the year. Our thanks are

a going due specially to Mr. P. S. Cassidy The forthcoming weddings on its feet as 24,000.00 Company

announced. Mr. Leung Hau-kwan concern on an economie basis with- for auditing the accounts."

On being seconded by the Hon. of No. 12, Shan Kwong Road, Hong 100,000.00 out impairing its efficiency.

The year under review has been Mr. T. H. King, the report and Kong, to Miss Mary Kwan Foy, of 10,000.00 a most anxious and disastrous one statement of accounts were ap- No. 28, Leighton Hill Road, Hong

Kong for most trading and industrial proved.

Election of Officers,

Mr. Liu Yan-mun, of 19, High 99.843.88 concerns, and probably none have

Stret, Hong Kong, to Miss Lau Been harder hit than Shipping,

The following officers were elect-Yuk-lin, of No. 89, High Street, $413.843.88, Shipbuilding and Docking Com-

ed to serve on the committee, for Hong Kong. panies.

Mr. Chih Kl-sau, Chinese Mari- Seconded by the Hon. Mr. J. J. the ensuing year: President--Mr. Paterson and carried unanimously, H. B. L. Dowbiggin, O.B.E.; Vice-time Customs, of York Building. President Mr. G. Bulmer Johnson; Hong Kong, to Miss Lau Shiu-ching On the proposal of Mr. F. Austin. General Committee-Messrs. W.-A. of the same address. Barry, seconded by Mr. Frank seconded by Mr. Wong Ping-sun, Cornell, L. C. F. Bellamy, V. M. Austin, Messra. Li Tee-fong, and Sir Robert Ho Tung and Mr. W. H. Grayburn, F. C. Hall, the Hon. Mr. W. T. Southorn, V. C. Labrum, Sir in Malaya have decreased slightly C. F. Mendham were re-elected Bell were re-elected as

William Hornell, F. S. Cassidy, J.| recently, due to the incidence of the Directors for the ensuing year. for the ensuing year.

Messrs. Linstead & Davis, and 'The confirmation of the election Bentley, J. D. Danby, the Hon. Mr. rise in exchange, our trade in South China is showing a satisfactory ex-Messrs.

and of Mr. Lawrence Kadoorie and Mr.T. H. King, and A. B. Raworth.

On the suggestion of Mr. Bel- pansion. In this connection, I think, Matthews. were re-elected Aud! Felix A. Joseph to the Board of it should be mentioned that, in tors the proposal of Mr. Directors, was proposed by Mr. lamy it was decided to hold an spite of the stimulation which has N. V. A. Croucher, seconded by Mr. Chan Sui-ling and seconded by Mr. informal dance been given to our business by events J. A. B. Silva.

provement 1980.

Business during the year under review, in particular towards the

fatter part of the period, was fair-

ly satisfactory, and although sales

in China, we feel fairly confident that we shall be able to hold the additonial business in South China, obtained during the past year.

You will observe on the debit aide of the Profit and Loss Account a sum of $2,170.33 under the heading Repairs to damage by typhoon Hok Un Works"; this is the only item

Other Business.

On the proposal of Mr. F. C.

on

Lowe, Bingham

Other Business.

Directors

KING'S

THEATRE

COMMENCING

on St. George's Night instead of the Ball, on Lo Koon-hang. Attendance.

Mesare. Lowe, Bingham and Mat-Twelfth Night.

Messrs. Linstead and Davies SUNDAY, 3rd APRIL. Supporting the Chairman were thews, and Messrs. Percy Smith, Messrs. J. H. Taggart, J. Scott Seth and Fleming were re-elected were Harston, Li Tse-fong, A. G. Shewan Auditora on

the proposal of Mr. Treasurers. and C. F. Mendham (Directors), N. V. A. Croucher, seconded by Mr. and Allan Keith (Secretary).

de

Shareholders present were H. A. Figueiredo, Chia Ho-ping, Frank Austin, K. W. Wong, E. M.

Shum Hip-tong.

Attendance. Supporting the Chairman

werd Paterson, Alan Cameron, A. H.

of an extraordinary nature and does Raymond, F. C. Barry, H. J. M. de the Hon. Mr. J. J. not mean that we are not insured Figueiredo, N. V. A. Croucher, Messrs. against this riak, but represents J. A. B. Silva, F. M. Ellis, P. H. White, W. H. Bell, F. A. Joseph sums spent in repairs below the, Sin, Yeung Yau, Leung Yau-cheng, (Directors), R. M. Dyer (Chief franchise stipulated by the under-Liang Man-i, G. A. Harriman, A. Manager) and E. L. Hosle (Secre-

Zimmern, A. H. Carroll, and F. E.(tary). writers.

present Shareholders Silva.

Messrs. Frank Austin, Shum Hip- tong. Wong Ping-sun, Lo Koon- hang, Chan Slu-hing, N. V. A. Croucher and Fun Huf-cho.

Reserve for New Works. Turning to the Balance Sheet, you will notice that the Reserve for the New Works at Hok Un, which has been a familiar item in our Balance Sheet for many years, has now dis- appeared. It has been the means

of retaining in the Company a part

।:।

HONG KONG AND WHAMPOA DOCK CO., LTD.

NO DIVIDEND.

Presiding at the annual meeting?

of the profits earned in the past, of the Hong Kong & Whampoa

were

re-elected Secretaries and

SUNSHINE

SUSIE"

FOR

GOOD GIMLETS.

CALDBECK, MACGREGOR & CO., LTD. (Incorporated under the Companies' Ordinances of Hong Kong.) Prince's Building,

Ice House Street

Telephone

20075.

PALL MALL

MEDIUM

VIRGINIA CIGARETTES

at

65 cts.

per tin of 50's.

Sole Agents:-

TABAQUERIA FILIPINA

26 Queen's Road Central.

Rothman's

Pall Mall

By Special

to H.M.the

Appointment

KING OF SANT

VIRGINIA

MEDIUM

MAN LOONG. PRESERVED GINGER MANUFACTURERS.

NEW BRASON PRESERVED GINGER Best quality-Prompt attention to Exporters. Office:--2, Dundas Street, Kowloon. Tel. 57088. Factory:-2, Godown, Prays, Dundas Street, Mong

MARTELL'S BRANDIES

V.S.O.P.

POLICEMAN IN TROUBLE.

A BRITISH PICTURE.

CORDON BLEU.

Fined $100 or Two

Months' Hard. -

The case in which a Shantang constable, No. D96, Miao Fung-hu waa charged at the Kowloon Magis tracy with larceny of $1, and with misconducting himself as & Police Guilty of murder and domestic in Omeer, came to a conclusion yes:

terday. and as the necessity of its applica- Dock, Co., Ltd., thus morning, Mr. felicity and branded as an intract-

Mr. L H. C. Calthrop, A.S.P., ap- tion towards the cost of the New J. P. Warren, in proposing the able savage. George, a Himalayan

Ac-bear, became altogether too great apeared for the Crown and Mr. M. Plant does not arise, the amount adoption of the report and

problem for the authorities of the A. da Silva represented defendant. thereof, namely, $600,000, has now counts, said, inter alia

Defendant was alleged to have been transferred to the General: The gross profit is $78,000 loss Allpore Zoo, so they sent him to Reserve, which will now stand at than last year, the difference heing Dublin. There he lalled a friendly entered No. 1; Argyle Street while $1,000,000. This sum will, in mainly due to fluctuating exchange Irish keeper into a false sense of the inmates were playing mah-

It was then that

Jongg and taken from the table $1 future, be available for general pyr- and shortage of work on, account cameraderie. poses as circumstances may require, of worldwide economic conditions. George gave vent to the feelings in small money, and on being will also a further $100,000, Stock in hand amounts to that he had been storing up upon questioned by one of the players Should you agree to the allocation $2,152,131.53 as against $2,206, cover of the moroseness exhibited he is alleged to have drawn his

profits proposed by your Board. 091.98 at the end of 1980, and is during the voyage Casting aside revolver, but was disarmed. addition to the eleven lakhs of valued well below the present mar- all pretence at amiability he made Just referred to, we have ket price. Nepaste for the keeper in a mad dash and

amount of $427,578.59 The overdraft is about $560,000 succeeded in Infleting, seve Exchange Reserve, which more than in the previous year and furles before the victim could make has been specifically earmark It mainly accounted for by the cost) his esc

After hearing the evidence Mr. raser - dismissed the larceny charge, and imposed a Ane of $100 or two months hard labour, on the

second charge

RENATE MULLER

with Jack Hulbert, Owen Nares.

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