1937-03-31 — Page 4

Page

ALHAMBRA

NATHAN RD, KOWLOON-DAILY AT 2,30

720-8

COMMENCING TO-DAY •

156856

AN INNOCENT MAN FACES THE TERROR OF LYNCH LAW AND THE ONLY ONE WHO CAN SAVE HIM IS THE WOMAN WHO SWORE TO RUIN HIM!

She Tumed a Frenzied Mob. on the Man She Loved!

Adolph Zukôr presents

OUTCAST

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20th Century

Fox Picture

£ Darmaneant Pictura wik

WARREN WILLIAM

KAREN MORLEY - LEWIS STONE JACKIE MORAN - Aa fasel Coben Fredfusion

-- Diensbed by habort Vierny

"ONE IN A MILLION'

with Sonja Henie-Don Ameche –Årline Judge

Notice to Customers

The CHINA EMPORIUM, LTD. is closed

to-day (March 31st.) for STOCK TAKING,

but will resume business to-morrow (April

The Cafe de Luxe (on mezz, flr.)

· 1st.).

will be open from 12 a.m. as usual.

Kowloon-Canton Railway tickets are obtain-

KA

8 p.m. at side entrance

able from 9 a.m.

of the Emporium Building.

FOR FULL INFORMATION CONCERNING

⠀⠀⠀⠀ HONG KONG BUY A COPY OF THE

HONG KONG $ DIRECTORY

Price $1.00

OBTAINABLE AT ALL BOOKSTALLS

THE CHINA MAIL, MARCH 31, 1937.

GREEN ISLAND CEMENT CO. OUTLOOK

EXPECT TO BENEFIT FROM BRITISH

FORTIFICATIONS SCHEME

The accumulation of substantial cash re- sources and brighter prospects for the future in view of the substantial defence programmes to be carried out in Hong Kong and Malaya were men- tioned by Mr. J. H. Taggart, presiding this morn- ing at the annual meeting of shareholders of the Green Island Cement Company, Limited.

years.

Reference was also made to those markets from which our product for the past few the Canton permit regulations has been excluded and the hope expressed that the restrictions would soon be re- moved.

Building operations in Hong Kong have been somewhat curtailed through- out the year 1936 and your Company

The Chairman said that the balance continues to experience keen competi- standing at credit of Profit & Loss, tion from the sale of foreign cements In this connec- after making the usual provision for at very low prices.

to note from Director's and Auditors' Fees, the tion it is interesting

no less than Company's Donation to the King statistics available that George V. Memorial Fund. and writ-82,584 tons of cement of foreign origin ing off inoperative Plant at Hok Un. have been imported into the Colony amounts to $41,436.90 for the year during the year 1986, of which 61,000

Adding under review.

tons came from Japan and 20,000 tons of $22,552.27 brought forward from the from French Indo-China.

In spite of this, the sale of your year 1935, there remains the sum of

product during 1936 $66,989.17, out of which your Directors Company's

amounted to $59,000 tons and I am recommend that $4,589.17 be appro- priated to General Reserve, bringing pleased to be able to state that at the that Account up to a round figure of present time we are enabled to keep

of two kilns in operation at Hok $950,000 and that the balance

the sum

Un

$62,406 then remaining at credit of works, and it is reasonably anticipated to that it will be necessary to maintain Profit & Loss be carried forward

this rate of production for some next year's Account.

months to come.

NO DEPRECIATION

is

It is gratifying to be able to record. In dealing with the figures it necessary for me to draw attention to the steadily increasing demand from Theatre, taken depreciation the fact that

has not our export markets

in conjunction with the important been provided for in the Accounts as presented, in which relation, and by Defence Programmes which are to be way of explanation, I would add that undertaken both here and Malaya, it it is still the opinion of your Board would appear reasonable to anticipate the continuance of the present demand that, having regard to the severe writing down of the Company's Assets for your Company's product, and in in the scheme of Reorganization under-view of the more encouraging results taken in 1934, further depreciation is of recent months, I venture to think that we can look forward to a greater unnecessary at the present time, particularly having regard to the fact measure of prosperity in the future. that the General Reserve now stands at the figure of $950,000 and con- sequently bears a 93 per cent. ratio on the contra declining Assets, presented by Plant at $851,026.93, and present for Floating Craft at $168,361.43.

as re-

PRUDENT POLICY ·

At the same time your Board is of the opinion that, notwithstanding the impovement in the results as the year under Te- view, as compared with the Ithe results as presented for the year Turning to the Balance Sheet would draw your attention to the con-under review, as compared with the tinued improvement in the cash posi-igures for the previous year, Share- will support the prudent tion of the Company and to the fact holders that during the year the credit balance policy of conserving the financial re- with our Bankers has been increased sources of the Company, rather than to over 3 lakhs. In this connection recommending a dividend distribution I would add, incidentally,

at this juncture, particularly in view that your of the vicissitudes of the past few Company has been enabled. to ac- cumulate these funds notwithstanding years and the difficulties which your the fact that heavy commitments have undertaking has had to surmount.

Before closing I would refer, with a been met throughout the year in re- spect of Limestone deliveries obtained deep sense of regret, to the death of of the Company pursuant to the Policy of your Board the late Secretary

Mr. Allan Keith, and L desire to re- to augment the reserves. of Raw Material from time to time, as and cord the Board's appreciation of the loyal and efficient services rendered by when market conditions so warrant.

'Mr. Keith to the Company covering the lengthy period of years during which he was associated therewith.

MACAO PLANT SOLD Shareholders will doubtless recol-

lect that in the speech from the Chair last year I'made mention of the fact that there appeared to be little hope of conditions improving in Macao, and foreshadowed the necessity for your Board to give consideration to the report and accounts were adopted. permanent closing of our undertaking in that Colony..

I now have pleasure in formally proposing the adopting of the Report and Accounts for the financial year ended 31st December, 1936.

Mr.. B. Wong Tape seconded and the

OTHER BUSINESS

Mr. J. H. Taggart and Mr. J. Scott Harston were re-elected to the Board

Davis and Messrs. Lowe, Bingham and Matthews were re-elected auditors.

In this relation, and in the absence of amelioration of the situation as of Directors, and Messrs. Linstead and then perceptible, your Directors, after careful examination of all possibilities, arrived at the conclusion that the ex-

Those who attended were: Mr. J. H. tent of the business of your Company Taggart, (Chairman), Mr. J. Scott in Macao was insufficient to enable that Harston, Mr. A. L. Shields, Mr. T. E Factory to continue operations on Pearce, Sir R. Ho Tung, Mr. Li Sze profitable basis, and having in mind Fong (Directors), Mr. T. C. T. Beck the heavy charges which were being (Secretary) and the following share- incurred each month in respect .of holders:-Messrs. Fung Kwok Wah, B. maintenance, decided to take the neces: Wong Tape, A. H. Potts, M. sary steps for the sale of the Plant Figuenedo, P. H. Suckling, E. Abraham and Buildings, which eventually re- and F. E. Silva. alised the sum of $101,795.79.

SOUTH CHINA-

•

A.

Several stall holders and stores I am pleased to be able to report continued progress during the year were summoned before Mr. W.- under review; more particularly is this Schofield at the Central Magis- reflected in our export business, tracy with having defective scales. wherein a decided improvement is re Chiu Lok-chu a stall holder at Cen- corded. It is regretted, however,

that, notwithstanding the change of tral Market, who was 3 per cent. Government in South China, Permit short in his scales, was fined $20 Regulations have not been recinded and Au Yuen Kwan, another stall and our Coment is, therefore, still

denied entry into South China. Never-holder, was fined $25, he being four theless, your Board is hopeful that, per cent out...

with the administration now in power, Chui Iu-chong of the Fook Tai- acceleration in Public Works, coupled cheong compradore store at Mur- with industrial development generally,

will soon lead to a removal of restric-ray Place, Quarry Bay, was fined tions and permit of our reverting to $330 for two defective scales.