1938-02-18 — Page 6

ALHAMBRA

NATHAN RD, HOWLOON DAILY

19:30 • TEL. 16686

• FINAL SHOWINGS TO-DAY •

Murder!

PLANNED IN A NIGHT CLUB.. COMMITTED IN A BOUDOIRI

Adolphy Zukorpiksents

NIGHT CLUB SCANDAL

A Parambunt Picture with

JOHN BARRYMORE

Lynne Overman - Charles Bickford · Louise Campbelt · Elizabeth Patterson Harvey Stephens · Cecil Cunningham · Evelyn Brent - Directed by Ralph Murphy

TO-MORROW

A Warner Bros. Picture

"ITS LOVE I'M AFTER "

Leslie Howard Betty Davis

AS ALWAYS

•

SHANGHAI'S LEADING HOTEL

THE CATHAY

Cable Address: "CATHOTEL”

THE HOTEL

The most luxuriously ap- pointed in the Far East but not expensive.

250 ROOMS & SUITES

Every Room with Private Bath.

THE CATHAY

RESTAURANT

(Air-Conditioned)

The most beautiful room in the Orient, command- ing extensive views of the River and environs of the Settlement,

Luncheon or Dinner a la Carte.

THE TOWER

BALLROOM

i

Shanghai's most popular

rendezvous-a distinguished

but informal Night Club,

where dinners are also

served.

“A HOME” AWAY FROM HOME

AND

SHANGHAI'S SOCIAL CENTRE

THE CHINA MAIL, FEBRUARY 18, 1938.

H.K. TRAMWAYS CARRYING MILLION PASSENGERS EVERY WEEK

AN EXTREMELY SUCCESSFUL YEAR - DURING WHICH SEVERAL LONG-STANDING RECORDS WERE SMASHED, WAS REPORTED BY THE CHAIRMAN AT. THE ANNUAL | MEETING OF THE HONG KONG TRAMWAYS, LTD., WHICH WAS HELD IN THE BOARD ROOM OF MESSRS. JARDINE, MATHESON AND COMPANY THIS MORNING.

Further additions to the fleet of tramcars was also announced in keeping with the Company's policy of maintaining an adequate service for the public although it was em- phasised that there would probably be an excess of rolling stock over requirements when local conditions became normal once again.

The Hon. Mr. J. J. Paterson, Chairman, said:-

We have not only experienced a very prosperous year but we have passed

year's payment of which will not be made until February 1941, for 1940- has for many years been kept in mind by your Board who have framed the financial policy of the Company to ensure as far as is possible that the larger payments after 1940 will not prove a disturbing factor in future ac-

counts.

NEW INVESTMENTS During the year a further $268,736 have been invested bat no additional revenue comes in until next year. In the meantime the yield from invest- ments not only has been maintained but shows some improvement. through one of the most eventful years Investments now total $1,504,745, in the Company's history. The in-Taken at the depressed conditions un- crease in the volume of traffic handled der which 1937 closed the stock mar- has continued and several records have

ket valuation noted in the Balance been created including the number of Sheet is 15.3 per cent. under cost. passengers carried, miles operated and some improvement in prices since 31st monthly tickets issued. Coronation

December has however been seen and week returned the highest number of the percentage of difference to-day is passengers-1,175,000 exclusivo of

less than 12 per cent. This difference monthly ticket holders-and exceeded is very s'ight when set against the the number carried during Jubilee week 1935 by 323,000.

Compared with 1936 last year's re- ceipts were higher by $305,586 whilst the car-miles rose from 3,651,845 to 4,124,416.

The year's net profit rose by $226, 094 or a fraction under 42 per cent.

STRIKING FIGURES Except for the Coronation festivi- ties it is to the abnormal traffic dur- ing the last four months of the year that we must look for an explanation of these remarkable figures. Other people's troubles are largely respon- sible for the benefits that have accru- ed to us. These benefits will not last.

ers.

General Reserves.

Capital expenditure carried out to Tramway Undertaking Account dur- *ng the year amounted to $108.206, this largely in respect of new rolling stock. The additional amount of $17.- 16 under the head. "Other Froperty" refers to the purchase of new land on Eng's Road, the site of the subsi

arv tramcar depot.

on

Depreciation has been allowed the usual full scale and with it the annual appropriation of $68.000 writ- ten off Goodwill and Construction Ex- penses.

- LARGE RESERVE A transfer of $100.000 (as in 1936). General Reserve will also be noted. The General Reserve Account now stands at £1,000 000.

An Interim Dividend of 30 cents a share costing $195.000 was paid in

The Board now recom- August last. mends a Final Dividend of 60 cents a saare amounting to $390,000.

Since August 19th last when the * "Rajputana" arrived with the first shipload of refugees from Shanghai there has been a constant influx of people into the Colony both from the north and from Canton. In 1936 we carried less than 35 million passene

We are now carrying a million per week.

Thus in 1937.90 cents has been paid There were, indeed, no less than 17 for the whole year as against 60 cents ordinary weeks during the last 4 for 1986 and the balance of $115,882.90 months of the year in which the pass sengers carried by tramcar exceeded the number carried during Jubilee week 1935.

Though I have tried to make it clear that this heavy traffic is abnormal and that the majority of the visitors noTM in the Colony are transient, your Board has, nevertheless, decided to order six additional tramcars. This will bring our fleet to 103 against a fleet of only 57 in 1922.

Although this may mean an exress of rolling stock over maximum require- ments later on, we must-as a Pub- lic Utility Company-be in a position to cater for the peak load on all oc- casions.

carried forward now against $101,- 661.51 in 1936,

I think I ought to repeat what I said last year that our tram fares re extremely low and are probably the lowest of any road passenger tran- sport undertaking in the world.

The Hon. Sir Henry Pollock, in seconding, congratulated the directors and staff for the excellent results re- turned. following which the report and accounts were adopted.

KOWLOON GODOWN DIVIDEND

NEW YEAR RECORD- Whilst on this subject perhaps I The Hong Kong and Kowloon Wharf should say that traffic receipts for and Godown Co., Ltd. report that, sub- China New Year week last month exfect to audit, the balance at Profit and ceeded the receints for the correspond-Loss Account for the year ended 31st ing week of 1937 by 25 per cent, and December, 1937, is- $955,788,51 which that the number of passengers carri together with 208,623.14-brought for ed on the 30th of last month (Chinaward from the previous year makea New Years eve) were only slightly a total of $1,164,411,65 available for under a quarter of a million and were appropriation.

in excess of the number carried on While this Company has benefitted èx- Coronation day last year.

fram abnormal conditions which

latter part of 1937 the year had already material improvement No increases in rates have

I have been asked by a shareholder isted in the to explain the Royalty position. This first half of the was mentioned in the annual speech shewn a most in February 1928 and again in Febru-over 1936. ary 1984 but perhaps the position been made since the trouble started.

The Directors will, at the approach- might be explained afresh.

As you are aware, from October ing meeting of Shareholders, recom- 1989 the rate of Royalty payable to To pay a Dividend of $8.50

mend the following distribution:- the Hong Kong Government Increases from 5 per cent, to 25 per cent on the To transfer to Repairs and working profit. In the accounts, $68,- Renewals A/C 000 has been written off annually To carry forward to next

per share 56

account

$765,000,00

150,000.00

249,411.65

$1,164,411.65

2APB3

In other words preparation for the morning for failing to increased Royalty the first full proper number plates to his

against Goodwill and Construction Ex- penses which, will have become ex- tinguished in 1988. This charge, to gether with the appropriation to Ger eral Reserve now regularly debited in Profit and Loss Account or at least some part of it will thus be available ing fined $5 by Mr. R. A. D. Forrest from the time that our increased Roy at the Central Magistracy-this- alty becomes effective.

Chan Pak-cheung was this morn--

provide