1938-03-10 — Page 9

THE CHINA MAIL, MARCH 10, 1938.

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HONG KONG ELECTRIC CO. STRONG BRITISH BRITISH AID IN

HAVE RECORD YEAR

AN INCREASE IN OUTPUT AMOUNTING TO NEARLY 10 PER CENT. OVER THAT OF THE PREVIOUS YEAR, WAS RE- PORTED BY THE HON, MR. M. T. JOHNSTON, CHAIRMAN, AT THE ANNUAL MEETING OF THE HONG KONG ELECTRIC COMPANY HELD THIS MORNING IN P. AND O. BUILDING.

The Chairman said:-The Nett Pro- W. turbo-alternator and though its de- fit after providing for depreciation is livery has been somewhat delayed by $1,933,999.51 and with $232,992.69 the difficulties of obtaining raw ma- brought forward from the last account terisi, particularly steel, it is hoped to we have e sum of $2166,992.26 for (have it in operation before the end of appropriation. On September 9th we the summer. The order for a second paid an interim dividend of $1.00 per 100,000 lbs. per hour Stirling boiler share which absorbed $600,000.00 and was placed early last year and it is with the balance we propose: To pay expected that delivery of this plant. a final dividend of $1.50 per share will commence in the near future. absorbing $900,000; To pay a cash I think we can look back upon the bonus of $0.50 per share absorbing year 1937 as satisfactory and I take * $300,000; To place to Reserve $100,000; this opportunity to record the Direc

To carry forward to next Account (tors' appreciation of the services fea- $266,992.26 which I hope will meet with dered by the Manager, Staff and your approval.

Workmen.

The output from your plant WES 59,249,828 units an increase of 5,259,- 797 units or 9.74 over the previous year

Meters connected increased by 2,463 which brings the total number connect- ed to 43,078.

The gross earning are $321,239.58 more than last year.

•

many

SECONDER'S SPEECH

Mr. Li Tse Fong, said: I think I may safely say that all shareholders will join me in congratulating the Di- rectors, Agents and Staff on the very satisfactory results of last year's working.

The increase

of over five millions units of current generated, a rise of MISFORTUNES OF OTHERS Inearly 10%, is a source of satisfaction: During the latter part of the year to all of us and confrms our general under review, in common with

belief that the Company is most ef others in the Colony, we benefited toficiently managed.` some extent, and are still doing so, I am glad to know that the instal- through the misfortunes of others, a lation of the new and more efficient. state of affairs which it must be six-plant which you mentioned last year cerely hoped is only transient. We at-lis proceeding as I regard it as essen- tribute, however, not more than one-tial that Supply Companies, such as third of the increase in the output of ours, should keep abreast with the

and

units to that cause and I am glad to times so as to render to the public the tell you that throughout the first seven cheap and efficient service which they months of 1937, before the influx of have a right to expect. refugees, there was a steady and pro- It gives me much pleasure to second gressive increase in the sale of current your proposal that the Report for lighting. This is the more satis-Statement of Accounts be adopted. factory and encouraging as you will The proposal was unanimously recall that for the previous four years adopted it had to be reported from this Chaiz that the consumption of current for The Hon. Mr. M. T. Johnston, lighting purposes had diminished. Hon. Mr. S. E. Dodwell and Sir Ro- There has also been a satisfactory in-bert Ho Tang were re-elected direc- crease in units sold for power.

tors on the proposal of Capt. F. L

OTHER BUSINESS

the

Bad debts again show a decrease and Brown, seconded by Mr. A. McKellar, we have also succeeded in recovering while Messrs. Linstead and Davis were a debt of 3945.55. which was incurred re-elected auditors on the proposal of 18 years ago. Ignoring the latter, Mr. J. A. Tarrant, seconded by Mr. Bad Debts total only the insignificant A. Stevenson. sum of 31,362.31.

PROTEST ON SENTRY ASSAULT

Perping, To-day. It is understood that the British authorities at Shanghai are making strong representa- tions to the Japanese Embassy regarding an assault by a Japanese soldier on the Rev. A. H. J. Murray, of the London Missionary Society, at Tsang- chow on February 20.

The Rev. Murray, who is the son of the "Oxford Dictionary” Murray, was returning home. from church when at the city gate, a Japanese sentry shout- ed to him to halt.

The Ret. Murray walked on, whereupon the sentry struck”” him on the head and refused to allow him to proceed until he had doned his hat and bow- ed to the sentry.

The Rev Murray refused and a Japanese officer was called up. The latter insisted that he comply, which he was finally forced to do in order to proceed home.

It is understood that the re- presentations against the as- sault were accompanied by a request that if any regulations are issued requiring Britons to remove their hats and bow, they be cancelled. Such re- gulations are enforced in the case of Chinese-Reuter.

FOREIGN FIELD

London, To-day.

A sum of £5,000 to the Interna- tional Red Cross for the refer of distress in Spam was included in the supplementary estimates for the diplomatic and consular Services dis- cussed and approved in the Com- mons last evening..

A further vote of £4,000 was for expenditure incurred in the settle- ment of 9,000 Assyrians in Khabur, Northern Syria

The Parliamentary Under-Secre- tary for Foreign Affairs explained that the money was for the preli- minary expense in connection with the irrigation and preparation of the settlement. The ultimate expen- diture on the scheme was estimated at £50,000-British Wireless.

STUDENTS PASS THROUGH CANTON

Canton, To-day.

More than 600 students and teachers of the Peiping, Tsing- hwa and Nankai Universities are passing through Canton en route. to the temporary joint University established in Yunnan. The tem- porary University will accommo- date the students of these three - northern universities as they have been damaged by Japanese planes. Mayor Tseng gave a re- ception at Lingnan University- yesterday afternoon to welcome- the party.

The chancellors of various universities in Canton also attended the reception-

BRITAIN AND CZECHO-SLOVAKIA Reater.

London, To-day.

The Prime Minister stated at The Hon. Mr. 3. T. Johnson (Chair-Commons question time that he had

CAR OVERTURNS

We have set aside for Depreciation man of Directors) presided and was read with interest the speech re- While Wong Kai Yin was driving $680.898.00, a decrease of $16,430 com-supported by the Hon. Sir Shouson pared with last year. Standard rates Chow, Kt. Mr. T. E. Pearce, the Hon. Icently made by the Prime Minister a car in King's Road resterday of depreciation have, however, been Mr. J. J. Paterson, the Hon. Mr. Stan- of Czechoslovakia. He added he did morning during the rain, the car strictly maintained

ley E Dodwell (Directors), and Mr. Vnot consider it required or invited skidded and overturned The four Turning to the Balance Sheet you Sorby (Manager). Shareholders were will see that the Reserve stands at represented by Capt. F. L. Brown, any further statement on his part. passengers were thrown $4,900,000, and if you approve the re-Messrs. S. J. C. Stanesby, A. McKellar, -British Wireless. commendations of the Board this will [B. Wong Tape, Ko Koon Fan, A. Ste- now stand at the round Suk of venson, J. A. Tarrant, Wong Ping $5,000,000.

NEW SUBSTATION

On the Assets side Land shows .an increase of a little over $300,000 whien is mainly accounted for by the pur- chase of the property known as No. 3. Queen's Road, Central

It is our intention, when a suitable time arrives. to demolish the existing building and erect on the site a modem building part of which will house a new up-to-date substation.

and

Shun, Chan Shu Ming, Li Tse Fong, Wong Chi Po, Leung Fattin, Fung Kui Fai, Fung Kui Yin, Chua Seng Choo and Lo Kai Wing.

AIR

MINISTRY ENQUIRY DEMANDED

London, "To-day.

Civil

The Cadman Report on

Expenditure on Capital Account, apart from the land just mentioned, was $504,179.44 the principal items of which were the completion of the ex- tersion to No. 2 Turbine House, the Aviation will be debated in the building and equipment of a new sub- Commons early next week. station at Chin Lung Street and the

The Opposition Leader has given laying of a duplicate high tension feeder to Shaukiwan and the first sec- notice that he will, in the debate tion of a duplicate high tension feed-on the Air Estimates, press for a er to Stanley.

Cash at hand on current account and tion of the Air Ministry in view of full enquiry into the administra- on Fixed deposit was $2,174,460.37-2 decrease of $67,707.02 compared with what he alleged was growing last year. This is due to expenditure evidence that all was not well with on the new Plant.

the administration of the Depart ment-British Wireless.

Investments are slightly less, ad- vantage having been taken of an op- portunity to dispose of a small amount of stock at what appeared to be attractive figure; the market value of your investments was, on December 31st 1937, less than the purchase price by $147,556.00 which compares with

CLOUDY, DRIZZLE

NEW TURBO-ALTERNATOR All our installations have been main tained in a high state of efficiency and it is satisfactory to be able to report that the severe typhoon which passed close to the Colony on September 2nd track.

$5,827.35 on December 31st 1936. I The Royal Observatory reports am glad to be able to say however that the anti-cyclone has moved that since that date the market value into the Pacific to the east of of our investments has appreciated! Japan and another has developed considerably.

over China; pressure is highest to the north of the Yangtse Valley. South Japan

A shallow depression is crossing on a north-easterly

caused only minor damage to the Local forecast: NE winds, Company's property.

Satisfactory progress is being made fresh, cloudy, some drizzle or light with the installation of the 15,000-K; } rain;

The

were uninjured

out

but

DO YOU KNOW?

PERFUMES

ARE CHEAPER IN HONG KONG THAN

IN ANY OTHER PART OF THE WORLD.

OUR STOCKS

are extensive and include the creations

of:

BOURJOIS-CARON-CHANEL-COTY:

GUERLAIN-WORTH'S-HOUBIGANT LENTHERIC-MOLYNEUX-ROGER

& GALLET-LANVIN, ETC, ETC.

You will also find your favourite Toiletries and other Requisites here.

GRAND DISPENSARY

Limited

Corner, China

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