1939-02-17 — Page 4

SHOWING

TO-DAY

KING S

At 2.30, 5.10. 7.15 & 9.30 P.M.

THE GAYEST ROMANTIC ADVENTURE YOU'LL"

D

SEE ALL YEAR }

I'LL GIVE

A MILLION says WARNER BAXTER

and the season's gayest romantic hit is under way!

MARJORIE WEAVER

PETER LORRE - JEAN HERSHOLT

A 2018. Century-Fox Picture

NEXT CHANGE: 20th Century Fox proudly presents for the Chinese New Year Attraction.

"ALEXANDER'S RAGTIME BAND"

With Tyrone Power. Alice Faye.

DAILY

AT

2:30

5:20

720

920

Don Ameche.

HANKOW

·"ROAD KOWLOON

57.795

STARE

TO-DAY ONLY .

HISTORY'S GUILTIEST SECRET EXPOSE DỊ

DODORE S

DEL RIO

MADAME DU BARRY

"TO-MORROW & SUNDAY

Deanna DURBIN

in That CERTAIN AGE

anith MELVYN

DOUGLAS

Jackie Cooper Irene Rich Nancy Carroll John Halliday

A NEW UNIVERSAL PICTURE

MONDAY & TUESDAY.

“SINBAD THE SAILOR”

“ALI BABA & 40 THIEVES”

“AUNT GRAMPY” “BIZZY BEE”

"COBWEB HOTEL”

Popeye Colour Cartoon Popeye Colour Cartoon Betty Boop Cartoon Betty Boop Cartoon

"LITTLE STRANGER”

(Colour Cartoons)

·and ́

"other interesting shorts

AT ALL PERFORMANCES

INTRODUCING

COLD LUNCHEONS AT 70 CTS. Delivered to your office

Phone 21311 VIVA PRODUCTS

THE CHINA MAIL, FEBRUARY 17, 1939

TRAMS CARRY OVER 59

MILLION PASSENGERS

The chairman said:---

“THE YEAR 1938 HAS BEEN AN EXTRAORDINARY ONE AND

PREVIOUS RECORDS IN RESPECT OF TRAFFIC RE CEIPTS, PASSENGERS, CAR-MILES AND PROFIT HAVE ALL BEEN ECLIPSED,” SAID THE HON. MR. J. J. PATER- SON, CHAIRMAN, AT THE ANNUAL ORDINARY MEET- ING OF THE HONG KONG TRAMWAYS, LTD., HELD THIS MORNING IN THE BOARD ROOM OF MESSRS. JAR- DINE, MATHESON.

I regret to have to report the re Compared with the previous year, tirement, last week, of Mr. F. H. traffic receipts are up by $511,544, pas- Glover, the Assistant General Man- millions are up by ager, after 14 years outstanding ser- sengers" at "591⁄2

He leaves over 12 millions or 20% and the year's vice with the Company. net profit at $1,184,958 is up by $417,- with the best wishes of the Board for

many happy years of retirement. 732 or 54%.

CAPITAL EXPENDITURE When it was decided to make the

Turning now to the Balance Sheet. drastic cut în fares (a cut of 40% ex-, cept on Shaukiwan route) it was real- and Statement of Accounts; a very ized that a great increase in passen- considerable volume of work of a ca- gers would he necessary even to main-pital nature has been executed, dur- tain the then revenue. Thus, although ing the year involving an expenditure last year's receipts were higher by of $485,562.54, largely for additional

replacement of -85% than in 1932 which was the tramcars and previous best year for traffic receipts equipment, new buildings at the -the number of passengers exceeded King's Road depot and track-improve- ments which have been already men- those of 1932 by as much as.07%.

tioned. The whole of this develop-

car

INCREASE IN PASSENGERS Perhaps the most outstanding fea- ment has been met, as usual, out of

Another item ture of the numerous comparisons one current cash balances. could make is the increase in the num- of $143,982 transferred to Tramway ber of passengers which has taken Undertaking represents King's Road place in the space of only 2 years. In land appearing before development în 1983-the last year

under the old Other Property.

Goodwill and Construction Expen-

been... fares-the number of passengers was 29 millions. Last year this number ses, against which $63,450 has was more than doubled-an increase, written off, are finally extinguished. and throughout Tramway Undertaking in fact, of 104%.

Hence, although it is claimed that Account and that of House and Other on the usual bur fares the equivalent of about 9 Property, depreciation miles for a penny-are the lowest of scale has been fully provided..

You will notice that Investment Ac- any road passenger transport system in the world, the action of your Board count has been written-down by $160,- of Directors in reducing the fares in 402.27. In view of the record results 1936 to their present level has been and remembering the uncertain state of world affairs your. Directors have fully vindicated,

It must, however, be borne, in mind taken the opportunity to write down that the fall of Canton last October investments to market values at 31st This account now caused a further influx of refugees December, 1988. into the Colony, the population of gives a return of over 5% per annum........

TRIBUTE TO MANAGEMENT which is estimated still to be fully E quarter of a million in excess of nor- mal.

་

I think I have mentioned everything ..stress necessary except perhaps to

especially heavy traffic During the year we have added six that in an

carried an additional tramcars to the fleet which now year, when we amounts to 103. To enable these to twelve million passengers and earned be housed, we have completed the new over half-a-million dollars higher re- by car shed in King's Road. This build-venue, total operating costs rose ing is 240 feet long by 76 feet and, less than 10% compared with 1937. although it occupies little more than More cars were in service, a greater a quarter of the large site which, 7mileage run, more labour employed years ago, we purchased in this area, and the increase or perhaps I should it is much larger than we require at say, the comparative absence of it- the moment. Your directors consider-requires honourable mention. ed, however, that if an

As hitherto, a. transfer of $100,000 tramcar depot was necessary the op-to General Reserve Account has been portunity should be taken to make allocated. provision for several years ahead.

NEW DEPOT

additional

The roof of the new depot is structed on the lattice girder "Northern lights" principle

An interim dividend, of 45 cents per and share was paid in August last con- your Board now recommends a final and dividend of 90 cents per share or $1.35 and per share for the year. Thus $877.- bridges the whole area without any 500 is paid to shareholders and a bal- support from internal stanchions. ance of $99,484.26 remains to be car- Three tracks with inspection pits have ried forward.

OTHER BUSINESS

been laid to house, 21 trams and there Mr. P. S. Cassidy seconded resolu- is room for a further 2 tracks. tion for adoption of the report and

Just about the close of the year the accounts. new alignment at Arsenal Street was completed and a new double track was

Messre. A. H. Compton and F. A. laid in the centre of the new 100 feet Joseph were re-elected to the Board road between Queen's Road East and on the motion of Mr. D. V. Steaven- the junction of Hennessy Road and sen, seconded by Mr. B. Wong Tape, Johnston Road. The length of the new while Mr. H. V. Wilkinson was con- track is 810 yards and with thermit firmed as a director..

'''

welded rail joints. The elimination Messrs. Lowe, Bingham and Mat- of the Arsenal Street curves (4 rails thews were re-elected auditors on the per. curve) will not only effect a say-proposal of Mr. W. Allen, seconded by ing in wear and tear but has greatly Mr. H. Gittins. improved the general lay-out of the The following were present The tramway at that important junction. Hon. Mr. J. J. Paterson, chairman,

An unusually large programme of Mr. A. H. Compton, Mr. H. V. Wilkin replacements of tramcar trucks and son, Sir Shou-son Chow and Mr. F. A. traction motors was carried out dur-Joseph (directors) and the following ing the year a total of 12 new Peck-shareholders:-Messrs. B. W. Tape, D. ham pendulum trucks and 24 new mo-v. Stevensen, John Gardner, F. W. tois (with voller bearings) having Stapleton, H. W. Hammond, W. Allen, been obtaine from England and have H. Gittins, P. S. Cassidy, A. R. Puller replaced a similar number of old ton, K. C. Mark, Wong Kit-wan, Lo trucks and old motors on cars with Kai-wing, C. S. Isbister, E. Ezra, Chu comparatively new bodies.

Seng-choo, and-W. A. Stewart,

TO-NIGHT'S DINNER

1. Tomato Cream Soup 2.Bolled Fish & Anchovy Sauce

8. Grilled Beefsteak &

4. Malay Curry

6. Roast Chicken

6. Cabinet Pudding

Saratoga-Chips

7. Cheese. & Biscuit

Tea or Coffee **

Price 90`cts.

ST. FRANCIS HOTEL

QUEEN'S ROAD, CENTRAL.