1938-04-13 — Page 24

THE CHINA MAIL, APRIL 13, 1938.

ENGINEERING AND CONSTRUCTION CHINESE KILLED

COMPANY ON RENTS QUESTION

we

IN BERLIN

A 31-year-old

Berlin, To-day. Chinese student,

"Unlike those companies whose large profits have been made, good fortune it has been to share feel that there is ground for satisfac-Li Kung-chun, lost his life in a

your Board has prevented any losses

in the increased business result-tion that the caution exercised by traffic accident in Berlin yesterday. ing from the abnormal conditions due to the sudden and abnormal rise Li was run over by a motor- prevailing since the early au- in the cost of building materials in Cycle when crossing the street and tumn of last year, ours is of a particular items of steel manufacture. died in hospital shortly later.- nature still requiring a good deal We are happy to think that the Trans-Ocean.

confidence reposed in your Company

of spadework literal and figur-by substantial clients has resulted in from local residents for the lease of ative and not a little patience the award of a contract for the erec- those houses. before the fruition of our labours tion of an important building, on

Upon being approached a soon after by visitors to the Colony, can be expected to reap the full footing of reciprocal benefit between your Board maintained a fair attitude measure of their reward," stated principals and contractors, whereby towards all alike. Two alternatives Mr. J. P. Braga, O.B.E., when margin of profit escapes the risk of had been quoted to resident applicants our Company by working on a smaller were offered the first, the rent that presiding at the annual meeting any loss.

on yearly leases; and the second, a slightly higher rent for shorter teman- cies, subject to a reduction to the level of a yearly rent upon the expiration of six months and renewable there- after for a period of not less than one year. Our explanation, which was found perfectly satisfactory, is that

small difference in rent in the se cond alternative was necessary to prO- vide for the loss of one month's rent

of the Hong Kong Engineering Leaving the subject of construction and Construction Co., Ltd.. held al work, there has been profit small at the offices of Messrs. Lowe, it is true but nevertheless, proft all Bingham and Matthews, this

the same-in practically every branch morning:

of our business.

पति के

lease.

"House Rents" appears for the first Mr. J. P. Braga, O.B.E. (Managing time on the credit side of the Proft Director), presided, and was support-and Loss Account. For the current ed by Messrs. M. H. Lo, T. F. Lo year we might expect a larger (Alternate Director for Sir Robert venue from this source. The amount Ho Tang, Kt.), and Mr. Lawrence earned during 1937 is $7,629.68. Wel and the cost of minor repairs upon Kadoorie (Alternate Director for Sir are seeking to make of "Rent" the any vacancy following a six months' Elly Kadoorie, K.B.E.), (Directors), mainstay of the Company's revenue in Mr. H. Braga (General Works Man-future; it has the advantage of stabil- ager) and Mr. B. Alves (Secretary). ity without the extraneous influences In the case of those residents who

Shareholders present were:-Messrs. governing contractual orders. You had entered into leases early

last A. M. Braga, Noel Braga, Chan Kam might probably like to have a word year and which expired at the end Moon, H. J. M. de Figueiredo, M. A or two from me on this subject of of 1937, the option was given them de Figueiredo, E. Sahmet, घ Brents, which has recently come to so to renew the lease upon identical Sequeira, S. M. Bander.

much public and oficial attention The chairman said:-

-HOUSE RENTS

OLD RESIDENTS

terms and conditions, even though the) houses might obviously have fetched

not

Gentlemen,--The Profit and Loss Account reveals at the close of last your Board can appear before

It is in no spirit of vain-glory that more from new non-resident tenants. its Our object was fully attained in ob- year a balance at credit of $2,510.93; patrons, the Government, and the pubviating hardship on those who, after this added to the amount brought for-lic of this Colony with a clear con- all have first claim to consideration. ward from 1936 gives a total $4,034.96. The proposal to carry for- tion of house rents. In the prosecu-

of science on this highly debateable.ques- Their merited consideration was ward this sum to a new account as from the 1st January, 1938, it is my purpose to bring up presently for your approval

CONSTRUCTIONAL BRANCH To deal first with the construction- population. Only tentative al branch of your business, though no had been received early in

denied them.

tion of the second stage of the develop I have been at some length in in- ment of your Estate a block of semi- cluding this matter in the Chairman's detached houses had just then been speech in order to illustrate that the completed before the sudden, large and Board's policy is one that is dictat- temporary increase of the Colony's ed not by tempting opportunism but enquiries by fair play, which we hope, will August not fail of appreciation by those very patrons whom the greater develop- ment of your Estate in the long run is designed to serve. We hope also successfully to enlist a wiser circle of goodwill with the encouraging growth of the Company's business woon the sure foundation of mutual and recipro- cal service between landlords and tenants.

REMINGTON IC

Fall course of typewriting instructions

at THE SHORTHAND & COMMERCIAL BUREAU;

York Bldg,

Chater Road.

Principal: Jerome E. Law

Equipped with 5 KEY

Decimal Tabulator

MUSTARD & CO., LTD.

"(Head Office

DAVID HOUŠE

SONG KONG Phone 31141

-SHANGHAI)

IS.S. Bldg 147, The Bund, CANTON Phone 13746,

Those whose business it has been to be in daily contact with the mem- bers of the staff both Europeans and Chinese-appreciate to the full the zeal, energy and co-operation that have combined towards so much of their efficiency. When it is remembered that the staff, especially in the techni- cal department, has been largely ang- mented in the course of the. year your Board feel that a special word of thanks is due to one and all for the excellent spirit of harmonious relations that prevades all grades.

The Report was unanimously adopt- ied after it had been seconded by Mr. M. H. Lo

EXTRAORDINARY MEETING

At the extraordinary meeting which followed, the Chairman said:

If you pass this Resolution; as II hope you will in the best interests of the Company, all we seek to do is to increase the present capital of the Company from $1,000.000 to $5,000,- 000 by the creation of 2,000,000 new shares of the nominal. value of $2 each.

I should explain that while the capital would be so increased there is no idea of calling in forthwith anything like the sum which the capital of the Company will represent once the Resolution is., passed We will call in from time to time 50 mach of the capital only as it is re- quired for the purposes of our deve- lopment, and for any other that may appear to us advisable in which capital of the Company can be usefully and profitably employed.

You already know that the Com pany has its obligation to Govern ment in respect of the building coven-1 ant stipulated under the special Con- ditions of Sale of K. LL 9687. The first stage of this development, that is site formation now completed We have already begun the second stage, that is to say, the erection of houses within the Estate...

Mr. Lawrence Kadoorie seconded the Resolution which was carried unanim- ously. Sir Robert Ho Tung and Sir Elly Kadoorie, KBE., Tere re-elected the Board of Directors.

to

Messrs. Lowe, Bingham and Mat thews were re-elected auditors for

•ensuing

STOP PRESS

TEL, 20022 or 33993

Japanese Naval Sensation. See Page Twenty-One.

OFFICE APPLIANCE

CO., LTD., Tel 28607

Sole Agents

ROYAL T

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