1940-03-12 — Page 11

THE CHINA MAIL, MARCH 12, 1940.

COMPANY MEETING

NEW CITY BUILDING TO BE READY IN SUMMER

A NET PROFIT FOR THE YEAR OF $1,372,012.77 WAS REPORTED BY THE 'DIRECTORS TO SHAREHOLDERS OF THE HONG KONG LAND INVESTMENT AND AGENCY CO, LTD., AT THE ANNUAL MEET- ING HELD TO-DAY AT NOON IN JARDINE'S BOARD ROOM. PRE- SENTING THE REPORT, MR. DAVID LANDALE, CHAIRMAN, SAID:

CAN'T KEEP A GOOD

ليد

The figures before you show the re- sult of twelve months' working, dur- ing which time the demand for both business and living quarters has con- tinued to put an extremely heavy tax upon the supply of available accom- modation. This condition is similar to that which existed throughout 1938, and is due largely to the present

MAN DOWN Sino-Japanese hostilities.

LONDON, TO-DAY. THE "OLD SEA DOG." BELOVED OF NOVELISTS AND WRITERS OF THE SEA, SEEMS TO FIND ITS PERSONIFICATION OF CAPTAIN GEORGE SIMPSON, WHO JUST WON'T LET WARS TERRIFY HIM. During the last war, he twice had ships sunk under him in 1916.

He was in command of a ship at the outbreak of this war and within a month the ship was raided by Nazi 'planes. Last month, the ship was again raided and over a week ago it was machine-gunned.

The amount at the credit of profit and loss account is $225,517.76 more. than for the preceding year and is nc- counted for by a large increase in sales of property and by rent revenue; the latter reflects a full year's return on leases negotiated during the last half of 1938. I desire to reiterate the remarks made by the chairman in pre- senting the 1937 accounts when stated that this company has taken no unfair advantage of the political si- tuation and rentals remain substan- tially the same as then.

he

The balance on working account of the Gloucester Hotel shows a decrease of $63,405.63. In

· 1938 an unusual

Finally, the ship sank after an explosion in the North Sea last Satur- day. Captain Simpson is still live number of commercial and touring and hearty, thank you, and is re-visitors passed through the "Colony, ported to be looking for another ship! -Reuter.

4

FRENCH CHARITY

FETE

but in 1939 income from this source decreased and, since the outbreak of war in Europe, there has been a considerable decline in the number of transients.

PROPERTY SALES

Con-

Under the direction of Mrs. C. Renner, wife of the French Vice-

Various sales of property have been Consul in Hong Kong, tnę Uauvres ae affected, the principal one being M. L. Guerre Francaises, a French women's 278 (1A, Chater Road and 2, organisation here, will hold a charity naught Road) which is situated out- fete at the St. Paul Institution, Cause-side the true business centre and it way Bay, from April 6 to 7.

was considered advisable to take ad- Tickets to the late of $1, $2, and $3 | vanatge of a satisfactory offer and obtainable at the French Con- dispose of this property. The other sulate, Alexandra Building. Each sales cover vacant land on the Praya ticket will be entitled to a prize. The | East Reclamation and two small lots prizes contributed by local French wo- of Chinese tenements. As is custom- men and firms will be put on display ary the profit obtained on these tran- at Messrs. Sennett Freres, Pedde.sacions, together with a

sum of Street, and Messrs. Ullmann and Com- $27,809.20, has been transferred to pany,

Alexandra Building-Centrai general reserve account. News,

are

MAGAZINE FORCED

OPEN

With regard to the position of mort- gages, I am pleased to report that these are being cleared slowly but nevertheless satisfactorily, and it is hoped that it will ultimately be pos- sible to retransfer nearly $100,000 to general reserve account.

Dynamite, detonators and fuses, to the value of $182, were reported to In the balance sheet you will notice have been stolen from the magazine the item of $82,760. for investments. of the China Construction Company, On account of the general political si- Shou Shan Hill, some, time yester-tuation your board may consider it

day,

Mr. Sherwood, store-keeper, stated that the magazine was forced open.

A

FORMOSAN FINED

Formosan merchant, Ryuden Ren, of No. 1, Hillwood Road, was fined $25 by Mr. R. Edwards at the Central Magistracy this morning for entering the Colony without a valid passport..

building programme and, in order to advisable to delay proceeding, with a

avoid having too large an amount of cash lying idle, it was decided to pur- chase a small number of shares which, if necessity arises, can be readily con- verted into liquid funds.

NEW BUILDING IN CITY

The re-development of M., L. 2C (12, Des Voeux Road Central), which Sergeant Mann said defendant came

was contracted for prior to the pre- to the Colony from Macao in the

sent increased cost of construction, is 9.8. Kin Shan, and his passport was proceeding satisfactorily and should be without a visa..

PARKED OVERTIME

completed in July or August. At the moment the Company's architects are working on the re-development of Mr. R. B. Mace, of the Swedish and a decision as to the wisest course M. L. 2 Sec, B. (St. Francis Hotel) Match Company, No. 10, Queen's Road to adopt for this particular site will be Central, was summoned before Mr. Htaken by your board at a later date. G. Sheldon, K.C., at the Central Magistracy this morning for parking In considering the final dividend overtime in Pedder Street on Febru- your board has adopted a conservative ary 22.

policy and the proposal to declare

A fine of $8, was imposed.

$1.50 a share, makiake-all for

the year under, review, a

the balance carried forward by $57,- 820.66, commends itself under existing uncertain conditions.

MINISTER RESIGNS

Toronto, To-day. Mr. Harry Nixon, provincial secre- tary of the Ontario Government, and Premier Hepburn's right-hand man, has resigned from the Cabinet as pro-4 test against....Mr, Hepburn's actions in criticising the the conduct. Davis were re- of Canada's war effort. — Reuter.

Mr. A. Raymond and Mr. S. T. Wil- liamson, retiring by rotation, - were re-elected directors of the company, while

ercy, Smith, and- "and"M"

Linatend auditors for

STOP IN AT OUR SHOWROOM NOW AND TAKE OUT A NEW

STUDEBAKER CHAMPION

FOR: A REVEALING, CONVINCING.10-MILE RIAL DRIVE.

HONGKONG HOTEL GARAGE

Stubbs Road

Dine at the

Phone 27778-9

Parisian Grill

Good Food

Fine Wines

Dinner and Dance Music

by

THE BLUE DANUBE TRIO

Open till 1 a.m.

10, Queen's Road, C.

Telephone 27880.

LADIES'

JUST UNPACKED

D

Treations LDREN'S

STRAW HATS

for

SPRING AND SUMMER

Models of the latest creators released to us for this special occasion. Hats for every feminine type, each an advanced style for dress, sport, street, afternoon or general

wear.

Take advantage and secure the latest styles át moderate prices.

Also "Old Hats" service for Ladies and Gents.

YEE SANG FAT

& CO., LTD.

King's Theatre Bldg.