1939-03-07 — Page 4

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Page

TO-DAY KING S

ONLY.

"Lady, vorms,

AN ONETAY CHITTER...BUT YOU'VE SULK GİT ER 208-TID

ALSO

At 2,30, 6.10. 7.15 & 0.30 PM.

SAMUEL COLDWVM pacienti

GARY GOOPER MERLE OBERON

The Cowboy and the Lady

CM PATSY KELLY - WALTER BRENNAN Juzay KalgNo • Mabel Todd · Hanry Kolher, Directed by M. 5. Potter • Original story by Loo MeČAPOT and track. Atume · Borvoo Pay by % 16. febrian, janë Sanya Sution » Kelegrad thru baited anish-

A WALT DISNEY Silly Symphony CARTOON IN TECHNICOLOUR,

TO-MORROW

20th Century Fox Picturo

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DAILY 2.30-5.15

7.15-9.30

MOVING DAY"

Don Amecho-Simone Simon-Robert Young in

JOSETTE"

TAKE ANY TRASE ON HAPPY VALLEY BUS

ORIENTAL

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and 'swift.

DRAMA AS SAVAGE AS THE UNTAMED NORTH!

SPAY

GEORGE RAFT!

HENRY DOROTHY

FONDA LAMOUR!

THE CHINA MAIL, MARCH 7, 1989

ANNUAL MEETING OF TELEPHONE COMPANY: NO CANTON PHONE YET

THAT THE ABILITY OF THE COMPANY TO ACCEPT THE HEAVY DEMAND FOR SERVICE AND ADEQUATELY TO CARRY, THE EXTREMELY HIGH TRAFFIC ORIGINATING THEREFROM HAD ONLY BEEN MADE POSSIBLE BY THE FORESIGHT WHICH PROVIDED A SUBSTANTIAL MARGIN OF EQUIPMENT TO MEET EMERGENCIES, AND THAT THERE WAS LITTLE PROSPECT OF THE CANTON TRUNK SERVICE BEING RESUMED, WAS MENTIONED BY MR. H. J. H. TAGGART WHEN PRESIDING AT THE ANNUAL GENERAL MEETING OF THE HONG KONG TELEPHONE

·CO., LTD., TO-DAY.

It was further stated that with the continuance of the abnormal rate of growth of the system it WOS necessary to provide addi- tional exchange equipment at all' main exchanges and that the nint- ter had already been attended to by the Board of directors.

The net profit for the year was $845,381.10 and à final dividend of 8% per cent. was recommended.

Mr. Taggart said:

VFINANCIAL

CONFERENCE IN

AN

CHUNGKING, TO-DAY, IMPORTANT CONFER SUMMONED BY THE

The results, as indicated by the Ac- counts, are eminently, satisfactory but ENCE should, I suggest, be regarded to o MINISTRY OF FINANCE TO material extent as reflecting the ab- GATHER FIRST-HAND IN-

normal conditions which have existed

In the Far East during the whole of FORMATION OF LOCAL FIN- the period under review,

ANCE AND FIND WAYS AND

** The sum of $56,995 has accrued to MEANS TO COPE WINTH _JA- Government in the matter of Royalties

and

and represents an increase of $8,585 PANESE MEASURES ENFORC- over that paid in respect of the pre-ED IN CONTROLLED TERRI- vious financial year.

TORY TO UNDÈRMIÑE CHINA'S, The amount charged in the accounts

ECONOMIC AND CURRENCY for Depreciation is shown in the sum

SYSTEM. IS BEING HELD HERE. of $521,524.38 and, although this considerably higher than for the pre- The inaugural meeting yesterday ceding year, your Directors are con- was attended by more Lan 40 of vinced that, having regard to the un- settled outlook in relation to world the nation's leading bankers affairs generally, it behoves your Com- financiers from Szechwan, Yunnan, pany to embrace the opportunity pre- Kwangtung, Kwangsi, Fukien, Che- sented of further strengthening the

Honan, kiang, Kiangsu, Gnancial structure in the safe-guard-Hupeh, Anhwei, Kiangai, Shensi ing of your. Capital Investment.

NEW CONNECTIONS On the Credit side the Balance from Working Account exceeds that for the previous year by $209,000,23 and is at- tributable mainly to the augmented and concurrently Minister of Fin-、 subscription revenue derived from the ance, asked the conferees to study large number of additional connec- the following points carefully:' de-

TWO DAYS ONLY! TO-MORROW&THURSDAY tions made during 1988.

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MATINEES 202.

WHITE BANNERS

CLOYD C00

JAINTER JACKIE COOPER BONITA GRANVILLE

10. • EVENINGS. 20c 30c 50c.

3

4

TO-NIGHTS DINNER Consomme n'la Windsor Boiled Fish & Egg Sauce

Pork Chop & Mashed Potatoes Btowed Sweetbread & Tomato

6. Cold York Ham

6. Peaches Meringue

7 Cheese & Biscuit

8 Tea or Coffee)

Price 90 cts.

ST. FRANCIS HOTEL

QUEEN'S ROAD, CENTRAL.?

The China Mail

DEALS

CONCISELY AND ACCURATELY WITH THE NEWS

* "BARLIEST WITH THE LATEST”

and Kansu.

4

Hunan,

In an address. Dr. H. H. Kung, President of the Executive Yuan

Your Company's resources, continue velopment of conomic

resources,

to be severely taxed and the contin- strengthening of the currency sys- uance of the abnormal rate of growth tem, maintenance of the credit of of the system necessitates the provi: the Chinese currency, facilitation of sion of additional exchange equipment the purchase of native products, at all main Exchanges.

Anticipating this situation, your regulation of commodity prices, and Directors had already authorised the supply and distribution of food- drawing up of specifications ond preparation of technical details, and

the

stuffs.

condi- were

these were submitted to, the manufac. Reports on the financial turers some time ago. As much pre- tions in various provinces liminary work as could be undertaken made by the respective delegates.→→ in advance has, therefore, been com-|

pleted and your Manager has been in Central News, structed to proceed to London so that final arrangements can be concluded

and the order for the new equipment A.R.P. LECTURES

placed with a minimum of delay.

I would remark that it is not the present Intention of your Directors to call up fresh Capital to finance this project.

series. AR. P. lectures (modified course) for Air Raid Warden Instructors and Air Raid REFRESERVE NECESSARY Wardens will be held at Wah Yan Under the heading "Interest, Divi College, Robinson Road, every Wed- dends and Exchange" an increase of nesday at 6.80 p. m., commencing on $38,049.05 is recorded which, I feel

sure, you will regard as satisfactory. Wednesday, March 8. The lectures It is recommended that the custom-will be given by Mr. L. D. Skinner. ary annual appropriation of $170,482.00 The public are cordially invited to be made to General Reserve. On attend.

the contra side it will be seen that Investments show a depreciation

of

$500,408,39 on cost, which works out ter of the provision of

a telephono

at a fraction over 15% as against 9.5% network linking Hong Kong with all at 81st December, 1987 and, whilst the more important cities in China. present world conditions continue to Your Manager recently visited Canton prevall, it is unlikely that any mater-to explore the possibilities of re-open- ial improvement in market valuco can ing the service but was not impressed be anticipated. The necessity for the with the prospects for an early. provision of an Investment Fluctus sumption. However, the American in- tion Reserve is obvious and has been teresta, operating the telophones in stressed from this Chair for some) Canton have performed Trojan work If for some coovestablishms. the domestic sor- yoara, pa ng

Whereas your Company is both able vico there, and are usin all means at and willing to adjust the matter, we their disposal to facility the réstára- have not yet been able to obtain the tion of trunk, service to Hong Kong.

The cash position as displayed under requisito authority for removal of the technical objection to this course of the heading "Current Assets". "fa" a procedure, in which relation" I ... may favourablo one, and must afford. Mem- add that having regard to present con- bera considerable satisfaction, pershi ditions it is difficult to sog how per- mission can reasonably be withheld much longer.

PAREDZ SCANTON LINE

The year under review has vances ed the suspension of trunk telephone (vervice to Canton and has con

nullified the good work which d pré- viously been accomplished in the mat

Mr. EA. Raymond, seconded, the adoption of the report and accounts, which were carried unanimously.

An extraordinary general meeting was hold faimediately after at which a special resolution to alter the Articlon of Association of the Company carried en tos prosbuel of the chair man, asconded by Mr. A. McKellar.