1938-04-20 — Page 8

THE CHINA MAIL. APRIL 20, 1938.

ROOSEVELT PRECEDENT ON ANGLO-ITALIAN PACT Political Reasons Behind Move

LONDON CINEMA

STRIKE

-

London. To-day. Extension of the London cinema strike throughout Britain has been announced by the Electrical Work- ers' Union. ·

This measure has been adopted because the Association of British. Cinema Proprietors declared them- selves unwilling, in spite

the of strike here, to meet the Union's demands which require readjust- ment in the rate of pay and cognition of the Electrical Workers' Union by the Association.

re-

Till Monday the strike ser ned in- effective as the Association

tained members to fil the

ad ob-

sitions

WATERLOO-

COLOURS OF SCOTS GUARDS

London, To-day.

Three old Colours of the Scots Guards which were carried at the Battle of Waterloo and in the Peninsula War, were received by the Duke of Gloucester. yester- day, and hung certmoniously in Worcester Cathedral.

The flags, which were lost after Waterloo, were recently discover- ed in a house in Worcester.--Ren- ter.

REVENUE DOWN

shows

› London, To-day. vacated by the operators and mem- The Exchequer return bers of the Union in order to en- that the total ordinary revenue to sure regular showing of films. date amounts to £28,506,901 com- the The strike is now in full swingpared with £37,179,660 at in Manchester and Huli-Trans-corresponding date of 1937.—Bri-

tish Wireless.

Ocean

HOR

Pressure For

Naming Of Aggressors Other Than Japan

Washington, To-day.

President Roosevelt's unusual step in endorsing a treaty concluded by two European nations (the Anglo-Italian Agreement) took Washington. by surprise, but caused observers to believe that sound political reasons lay behind the move.

It is strongly rumoured that Representative Byron Scott (Democrat, California) obtained Pre- sident Roosevelt's tacit approval at the White House last week for a resolution to be sent to the State Department to-day calling on the Government publicly to name those nations who have infringed treaties with it.

Japan is already so named, and Representative Scott hopes that Italy - and Germany may be similarly condemned for the invasion of Spain in contravention to the Kellogg Pact.

Although the conservatives with the State Department will undoub- tedly oppose this course, Represent- ative Scott believes the President himself inclines towards it.

ROOSEVELT'S POSITION

If so, President Roosevelt could scarcely repeat his Chicago COM- demnation of aggressors without embarrassing Mr. Neville Chann berlain's entente with Mussolini, but by specifically approving the Anglo-Italian Pact, President Roose- velt removes the sting from 211yTM fresh condemnation of aggressors that generally he may be contem- plating-Reuter.

BANKRUPTCY OF SPANISH BOARD

HAVE AN H.B. AND THEN TRY"

The Hongkong Brewery & Distillery Ltd.

London, To-day.

A meeting of the Chairman's Sub- Committee of the non-intervention committee has been called for next Monday.

It is understood the principal · business at present in view is the financial position of the Non-Inter- vention Board which is charged with the administration of the observa- tion scheme.

At the last meeting of the sub- committee on March 31st, the Se- cretary called attention to the de- pletion of the Board's finds owing to the financial contributions of the countries parties to the agreement being in arrears and a memorandum was, by direction of the committe circulated to Governments with request for early instruction representatives--British Wireless.

to

THE CHINA MAIL, APRIL 20, 1938.

China Providents

MACAO

Have Profitable Year ELECTRIC CO.,'S

GOOD YEAR

A far more favourable year than

THE OUTBREAK OF HOSTILITIES BETWEEN CHINA AND JAPAN WHICH RESULTED IN A CONSIDERABLE QUANTITY OF CARGO DESTINED FOR NORTH CHINA PORTS BEING DIS- CHARGED IN HONG KONG, RESULTED IN THE FINE SHOW- ING OF THE CHINA PROVIDENT LOAN AND MORTGAGE in 1986, was reported by Mr. F. J. COMPANY ACCORDING TO THE REPORT OF THE CHAIRMAN, Gellion, the Chairman, at the An- nual Meeting of the Macao Elec- MR. S. M. CHURN, READ AT THE ANNUAL MEETING HELD tric Lighting THIS MORNING IN THE JACOBEAN ROOM OF THE HONG morning.

Company held this

KONG HOTEL..

1

Mr: Gellion said: After pro- viding for Depreciation, a sum amount- The year under review start- Messrs. S. M. Churn shả T. B. Willing to $94,026.30 the-net profit for the ed under favourable conditions, son were re-elected directors on the year totals $113,258.76. which together :but

proposal of Mr. EW. Blackmore, se- with the sum of $87,128.72 brought for- as the mid-year was conded by Mr. J. Middleton Smith, ward from the year 1936, makes the reached the outlook became ob-while Messrs. Percy Smith, Seth and] total amount available for appro scure and uncertain following the Fleming and Messrs. Linstead andpriation $200,387.48. outbreak of trouble between China Davis were re-elected auditors on the With this it is proposed to pay a and Japan. However, as the con- . B. C. Randall.

proposal of Mr. Churn, seconded by dividend of $1 per share on 90,000 flict developed and North China sea ports became involved, a con- siderable quantity of cargo destin- ed for these ports had to be dis- charged here.

EXTRAORDINARY MEETING Following the ordinary meeting which the chairman said: extraordinary meeting was held

The number of new consumers ob- tained during 1937, were 5 per cent. more than in 1936.

shares which absorbs $90,000.00 and to pay the Government of Macan 5 per cent, of this amount (as per Ar- anticle 15 of our Extension Contract) at which is $4,500.00 so leaving a balance of $105,887.48 to be carried forward Gentlemen, As you will have gather-to this year's account. The pressure for storage space from ed from the Notice just read, the busi- The results of the year are far bet- this source was so considerable that in ness of this Extraordinary Meeting is ter than the year 1936, and were up a relatively short period practically all to increase, consolidate and re-in- to our expectations due to the fact the godowns of Hong Kong were filled crease the Capital of the Company. that the Electric Fiscalisation Tax to capacity. Your Company obtained Your Board feels that as the shares question had been satisfactorily settl- a very fair share of this special busi- of the Company have for so long been ed, the new law being put into force ness, to cope with which it became ne expressed in the denomination of $5.00 from 1st January 1937. cessary to lease outside Godowns and each, it is desirable that we should re- The Kilowatt-hours sold for the open spaces, the working of all of vert to this value, hence it has sum-year showed an increase of 17 per which has contributed in no smali mea-moned this Meeting for such purpose. cent over the previous year and al- sure towards the satisfactory showing Advantage has also been taken off though operating on adverse exchange of a net profit for the year of $266, the occasion for this Meeting, to intro- rates we were able to slightly reduce 018.23. after making full provision for duce a resolution for the purpose of our operation costs. all contingencies, but excluding any increasing the authorised Capital to charge for depreciation.

$4,000,000.00 by the creation of new shares. It is not proposed to issue any of these shares for the time be- The reason for not charging depre-ing; we are simply paving the way for ciation. is that as the value of our the future in case business conditions properties was heavily written down should improve to that extent as to for the purpose of the Capital Be-or- make desirable the introduction of ad-work and Public Lighting equipment, ganisation which was carried out dur-ditional working capital. ing the year, and all properties have With these remarks, I formally pro- been maintained in a good state of re-pose that: pair out of current revenue,

1. That the Capital of the Board decided that in these stances, depreciation was unnecessary. Turning to the Balance Sheet, Gen- tlemen, you will observe that in com- pliance with the Capital Re-organisa- tion scheme which you approved and which was sanctioned by the Court, our Property Account has been writ ten down by over $2,000,000.00, and our Capital has been reduced in ac- cordance with the provisions of the scheme.

NO DEPRECIATION

your Circus-

Qur

In other respects our Balance Sheet follows the form of previous years, and I do not think that there are any items which call for comments from the Chair, except, perhaps, that investment in the Sandakan Light and Power Company is of such a nature that the Ordinance requires it to be shown as a subsidiary Company. Also, the other provisions of the Ordinance with reference to Subsidiary Compan- ies have been complied with through the statement which you see appended to the Ralance Sheet.

I would avail myself of this oppor- tunity to inform shareholders that the Waterloo Road and Kwong Wah Street properties of the Company have been re-modelled, and are now in fall oc- cupation at remunerative rentals.

our

The destructive typhoon of last Sep- tember caused some damage to properties, but being fully insured, the damage was made good at the expense of the Insurance Company.

H

10 PER CENT. BONES

(!

Unfortunately the bad typhoon of September last cost the Company a considerable amount in repairs, par ticularly our Low Tension Aerial Net

also some of the buildings,

in

All of the Company's plant and equipment has been maintained Com-good state and efficiency. pany be ⚫ increased from Our revenue for the First Quar- $2,210,917.50 divided into $84,567 ter of this year is higher than the shares of $2.50 each to $2.210, corresponding quarter of 1937 and I 920.00 divided into 884,368 believe we can look forward to even shares of $2.50 by the creation better results on this year's working. of one new share of $2.50, and] Present were Messrs. N. G. Beale, that such new share be issued Wong Yew Chiu and F. J. Gellion at such time and upon such (Chairman) (Directors), Mr. G. G. N. terms and conditions ZS the Tinson (representing the Secretaries), Directors may determine. and Mr. John Fleming and Mr. A. 2. That upon allotment of the new B. Raworth (shareholders).

share aforesaid, the shares in the Capital of the Company be consolidated in such manner that every two shares of $2.50 shall constitute one share of $5.00 credited as fully paid; That the existing certificates of shares be called in by the Directors and cancelled, and that new certificates be issued, sub- ject to the provisions of the

}

with such consolidation AS

BRITONS CHARGED WITH VAGRANCY

Company's Articles of Associa- James Flannigan, native of tion; AND that simultaneously Liverpool, and John Gordon Mc-1} aforesaid, the nominal Capital Daniel, of Durban, were this morn of the Company be increased ing charged before Mr. R. Edwards from $2,210,920.00 divided intolat the Central Magistracy with 442,184 shares of $5.00 each to vagrancy and were committed to $4,000,000.00 divided into 800,000 the House of Detention. shares of $5.00 each by the crea-

tion of 357,816 new shares of The first defendant, a・・ ship's $5.00 each, and further that fireman, missed his boat as he was sach new shares be issued ati such times and upon such terms]

in hospital, with fever and ar- and conditions and with such rangements are being made for rights and privileges as the him to be sent to England. Directors may determine.

Mr. N. V. A. Croucher seconded and

As in previous years your staff has the motion was passed.. worked very loyally and diligently,

The following attended:-

The second defendant claimed that he had come from South Africa on a ship which had now

and the Board hopes that its recommen- Messrs. S. M. Churn, chairman, P. been broken up. He tried to get dation that a bonus of 10% be paid to M. Hodgson, N. V. A. Croucher, J. P. work here, but failed. The Police those on the permanent staff, will re- Braga and Li Tse-fong. (directors), ceive your approval.

Mr. J. C. Guterres, secretary, and are communicating with his rela Although what I am now about to the following shareholders: Messrs tives for arrangements for his announce is outside of the business of B. C. Randall, E. W. Blackmore, H. repatriation: to-day's Meeting, I am sure share-Q Eunt, S. M. Bander, A. M. C. holders will be interested to learn Rosario, H. C. Lam, L. Jack, J. Tam that the call of $1.75 per share on the Hung, E. J. M. Churn, P. Vaswani, J. partly paid shares met with a very Middleton Smith for J. J. Edgar, Ar- favourable response, the amount un-thur Samy, J. E. Kotwall and the collected at date being only: $6,263:25. Misses Stella Bander and P. Perritt Shareholders will also, be glad to know that with the assistance of our Bank- ers, the loan of $500,000.00 was paid off on March 28 last, and a saving of interest has been effected. Our Bank-] ́ers have since been reimbursed out.of

the call moneys.

WEATHER FORECAST

TWO YEARS' HARD LABOUR

“Found" guilty of robbing two Chinese of clothing. torches and spectacles at Tsun Wan *after breaking into their residence, Tang

I cannot pretend to be able to fore- cast the future especially when it is The Royal Observatory reports Tin-sang, unemployed, was sentenc surrounded by so much uncertainty, that pressure is highest over Southed to two years hard labour by the but I can and do tell you that we always Manchuria and the Pacific to the Pulsae Judge, Mr. Justice R. W. manage to get a fair share of the storage business of this Colony, that east of the Bonins; it is relatively Lindsell, at the Criminal Sessions for the first quarter of the present low over Tongking and Hokkaido. this morning. year, we have done very well and giv-1 Local forecast:E. and S. E. en fair conditions we should be able to winds, moderate; cloudy generally, produce a good showing at the end of

the year.

local fog.

Mr. John Whyatt, Assistant At- torney General, appeared on behalf

of the Crown.

Page

GARGOYLE

These are scenes from the Standard-Vacuum Oil Com- pany Talking Picture en- titled "The Inside Story,” which is being screened at the King's Theatre on April 22nd at 12 noon.

The film, which takes 45 minutes to run through, explains the fundamental principles of Correct Lubri- cation in a simple, interest- ing manner. It is of special interest to every person who operates a machine, owDS & plant or runs a “motorcar.

Moreover it is absolutely free of all advertising and no mention is made of the Standard-Vacuum Oil Com- pany or its products.

Complimentary tickets may be obtained from the adver tising Department, Stan-n dard-Vacuum Oil Company, Union Building.