1938-03-28 — Page 4

Page

SHOWING

TO-DAY

KING'S

Samuel Goldwyn

19.30 p

RESENTS

DEAD END

From

ALSO LATEST MICKEY MOUSE.

CARTOON IN COLOURS

NEXT CHANGE

Warner Bros.

* SHOWS

DAILY 130-5.20 7:20-9:30

RUBY

comes the

United rtists.

DON DONALD

LEE DIXON n

"READY, WELING AND ABLE

MAJESTIC

THEATRE

MATINEES 203-30; • EVENINGS 20€-3025027

FINAL SHOWINGS TO DAY

A SHOCK-CRAMMED SEQUEL TO PUBLIC ENEMY !

PAT

PUBLIC ENEMY'S

WIFE

•

MARGARET

O'BRIEN LINDSAY

ROSEKT ARMSTONG - CESAR ROMERO

DICK FORAN - RICHARD PURCELL

TO-MORROW, ONE DAY ONLY!

RETURN OF “OLD FAVOURITE”

IRENE DUNNE

RICHARD DIX in

"STINGAREE

AN RKO RADIO MUSICAL ROMANCE

ISTARE

TO-DAY ONLY

57795

Claudette COLBERT

TO-MORROW.

Clark GABLE

in

THE CHINA MAIL MARCH 28, 1938.

KOWLOON DOCK COMPANY'S CREDITABLE ACHIEVEMENT DURING LAST YEAR

A FAR-SEEING POLICY IN 1935 AND 1936 WHEN PRE- PARATIONS FOR THE BETTER TIMES WHICH IT WAS THEN SENSED WERE NOT FAR OFF, ENABLED THE HONG KONG AND WHAMPOA DOCK COMPÁNY TO TAKE FULL ADVAN- TAGE OF THE OPPORTUNITIES PRESENTED IN 1936 AND LAST YEAR AND, THE ACCOUNTS CONSEQUENTLY, SHOW A CONSIDERABLE INCREASE IN PROFIT WITH EVERY PROS- PECT OF A PROSPEROUS FUTURE, SAID THE HON. ME. STANLEY DODWELL, CHAIRMAN, AT THE ANNUAL MEET- ING OF THE COMPANY HELD THIS MORNING.

consider that there is a

times.

rea

Mr. Dodwell said: The gross profit of $1,760,579.59 is prospect of maintaining the present normal the best we have had for very many level of dividend even years. It is the result of hard work during what we must regard as

Having regard to the present wide exceptional year, in that it embraced fluctuations in the cost of me one of the worst typhoons in the his particularly of non-ferrous metais, tary of the Colony. :

is only prudent to make prov against a further decline in value, the extent of $150,000.

Before the typhoon, however, work had increased considerably above the level of 1936, several factors con-

NEW ENGINE SHOP tributing to this welcome improve-

It is also necessary that we create ment The general increase in worlds special reserve of $350,000 to meet trade, the rising prices of materials the cost of a new heavy engine shop and of the cost of new ships, which on site much nearer than the pre- induced owners to keep their older sent shop to the large ships along ones in working order, and the secur-side and in the larger docks.

ity brought about by a stable dollar, Not only is transport from the ex- are three good reasons for the misting shop a costly and lengthy busi- erease, but another one is our increas-ness, but the congestion in it is be- ed efficiency...

HEALTHY OVERDRAFT The nett profit of $1,188,96416 must also be considered satisfactory," and

coming serious. It was last extended in 1920, but in view of its inconveni ent location; further enlargemen undesirable and uneconomical.

in relation to the gross profit shows During the year we trebled our steel a large proportionate improvement on furnace capacity and have made our last year. This is due of course to first large sternframe the net weight the larger volume of business, since of the heavier portion being 33 tons. certain of our overhead charges. re I mention this to indicate that tech- main more or less stationary in both nical progress is keeping up with the good and bad times. Stocks of material increasing calls made on us, and is have naturally increased with the larg being maintained in all departments. er volume of work and are conserva Last year I was able to inform share- tively valued at present-day prices. holders that we held a sub-licence from The financing of our larger stock re- Harland and Wolf for the building of quirements, together with that of our Diesel Engines of the Burmeister and new construction work, account for Wain type. We now have orders for the fact that our overdraft shows little five engines, a very gratifying sequel change from last year. I venture toto that statement. Our Giant crane think, however, that it is a more has passed its tests with no diaculty healthy overdraft than formerly. of any kind, and is now connected up Depreciation of necessity shows a with the Kowloon-Canton railway. The moderate increase in proportion to the tests have been witnessed by Lloyds increase of our plant, and is consider and other Society Surveyors and our ed ample.

certifi Civil Engineer advisers, and cates obtained from them.

THE TYPHOON

During the years 1985 and 1956, seus ing that the pulse of overseas trade was gradually getting stronger, we In my early remarks I made passing planned, on cautious lines, to be move reference to the typhoon, but I think with the bettertimes should they come as magnitude and its results call for along. Had we not done this, we something more from me. could never have taken such full ad- While it may be difficult for us not vantage of the opportunities presented to recall the old proverb that "It's in 1936 and 1937, as we have been wind that blows nobody any able to do. On the other hand, your good" these cataclysmic storms bring Board do not intend to be carried away widespread distress and worse to far by a spirit of over-optimism, and re-too many of those who go to set for cognise that it is their duty to con- their livelihood. The fortitude of he serve your interests against the se-officers and men who kept the sea dur vere fluctuations to which all coming that terrible night of September panies connected with shipping are 1st when the wind reached the high- subject

est velocity ever recorded, is beyond FRESH CAPITAL ISSUE

praise. And so too has been the work It is for this reason that we strong of the men engaged in the sal ly recommend only the same dividend the victims of the storm In most as last year, but that $507,300 of the cases there were risks to be taken and Reserve Fund be capitalised in the one at least there was real danger manner of which you have been noti- to our staff. We exercised the most fied, and that we make a fresh issue painstaking care for the safety of the of $1,014,600 of the unissued capital men so exposed, but I deeply regret at par, and so bring our capital more that in spite of our efforts, six work- nearly to the figure it should be for men lost their lives in the salvage of an enterprise such as ours.

the "Talamba”: în peculiar ^^ circum- In the times we are passing through, stances which could not have been it is folly to prophesy, but taking into foreseen.

IT HAPPENED consideration the reduction in in-You will be interested to hear that

ONE NIGHT

JOE E BROWN m "BRIGHT LIGHTS"

FIGHT IN KO SHING THEATRE

Lo Fa and Li Ming were bound other and was continnally getting up over when they pleaded guilty beand blocking the view. Both were fore Mr. H B. Butters at the Cen-

with friends. An argument start- tral Magistracy this morning to be having in a disorderly manner ated which developed into a fight. The the Eo Shing Theatre yesterday. Inspector added that the theatre was Inspector Mair said second defen-packed and the fight might have re dant was sitting in front of the sulted in a stampede.

terest which the new capital will an-we salved or rendered assistance to tomatically bring about, your Board very large number of ships, the

CENTRAL

THEATRE

LAST 5 TIMES TO-DAY

at 12.30, 230, 5.15, 7.20 & 2.30 p.m.

Prices: 20c

THEY WERE BORN TO

PLAY THESE ROLES'

important of which were the

Verde," Maersk”

**Talamba”?

"Bonneville," Lee' "Lahsing"

nandoah, Most of

oduce"

sustained considerable

and as each of them was floated, was docked without delay and

ed expeditiously, thanks to our ing on hand sufficient steel for the purpose

TRACY

the

TEMPORARY GODOWNS To SE the extra

and Chine,

which deserves the the thank

absommal happening. ar found us able and

(Continued Page 16)