1941-04-03 — Page 6

OVER THE BAR

UNDER THE BAR

IN THE BAR ·

Dewar's

White Label"

AND AT ALL

THE CHINA MAIL, APRIL 3, 1941,

FARM CHAIRMAN

DAIRY

ON

THE

PRICE OF MILK

́ A VERY SUCCESSFUL year's working was re- viewed by the Hon. Mr. T. E. Pearce when he pre sided at the annual meeting of shareholders of The Dairy Farm, Ice and Cold Storage Co., Ltd., held

this morning.

Mr. Pearce made reference to the increase in the price of milk brought into force last June and mentioned that though the step was somewhat over- due, it was taken with the-greatest-reluctance.

to

the

He added that no further up- progressed these costs reached ward revision of prices would be proportions which precluded fur- made unless circumstances were ther delay' in this 'decision, and in such as to leave the directors no June last an increase of 2 cents alternative.

per half pint bottle was made. The Chairman said:

This step, although some months Before proceeding with tho overdue, I may say, was taken business of the Meeting I wish' to 'with the greatest reluctance. Not make reference

death, since 1931, when the price per General bottle was increased from 15 to 10 since our last Annual

Stewart, cents., has a change been made: Meeting, of Mr. A. B. Mr. Stewart served on the Board, Since then, however, as you are Chair- already aware, compulsory pas- occasions. He teurisation, bottle hooding, and man on several

made took a very keen interest in the sealing of milk, has been

to effective, thereby greatly increas- Company and his passing is

ing duction cos's. be greatly regretted.

for many years and was BARS

Sale Agents:-A. S. WATSON & CO., LTD.

WINE DEPT.

CHATER ROAD

Tel. 20616.

The Sign of Perfect Drycleaning

ZORIC

GARMENT CLEANING SYSTEM

FOR ALL TYPES OF CLOTHING AND HOUSEHOLD' FABRICS

THE STEAM LAUNDRY CO.

Head Office and Works, Tel. 57032.

Hong Kong Depot, Tel. 21279. Gloucester Bldg., 2nd Flr..

Tel. 28938.

Reak Depot, Tel. 29352. Kowloon Depot, Tel. 58545.

Why REPULSE BAY HOTEL

is the Best Spot and "Most Attractive"

in the Summer Time.

Wormer weather is near ! !

HAVE YOU CONSIDERED A CHANGE FROM YOUR EVERY-DAY ENVI- RONMENT?

STAY AT THE REPULSE BAY HOTEL "provides a complete change- quietude, refreshing sea air, charming.gar. sden-surroundings with sea and -sun-Bath-

fr and the "LIDO" adjacent.

280W/Ble van cattractive + fast-inclus

THE HONG KONG..

For particulars apply- THE MANAGEMENT, REPULSE BAY HOTEL,

Phone 27775.

SHANGHAI HOTELS, LTD.

The Chairman continued:-

In-

a

Your Directors fully realise the The Profit on Working Account hardships wheh follow any for the year amounted to $880,- crease in milk prices and will no! 933.94.

make any further upward revision As compared to last year this figure is less by $48, unless compelled to do so by 140.55 and included in the Ac-further rise in the necessitles and feedstuffs required in production counts is Our subscription of

I have just mentioned... I may $15,000.00 to the "South China

add, here, that despite the increas- This Morning Post War Fund.” subscription I feel sure met with ed turnover and higher price real-

ised, the department showed lower return of proft this year as compared to last.

your approval.

The balance of Profit & Loss Account at $451,849.05 is how-

than ever $103,170.57 less

the figure shown in last year's Ac- counts.

Д

In addition to the cost of Cattle, which I have already mentioned,į Capital Expenditure during the year was as follows: Building and Property

Account

Ice Plant and Machin-

ery

You will observe the ilem Reserve for War. Taxation 1940/ 1941 $80,000.00, and I would ex- plain that since the closing of the books a payment of $54,000.00 | Launches. against this has been made to and Vehicles Government. The Reserve has Furniture and Fix- been made necessary as certain tures

Lighters

$271,983.88

355,003.71 ed

CHUNGKING PROTEST AGAINST IMMIGRATION LAW OF HK.

The 8th Plenary. Session of the Kuomintang Central Executive and Super- visory Committees yesterday requested the National Govern- ment to negotiate with the British Gov- ernment for the can- cellation of the Immi- gration Regulations now enforced by the Hong Kong Govern- ment. It is contended that the regulations are prejudicial to the interests of Chinese

in Hong Kong and to friendly relations be- tween China and Britain.

News.

Central

Department Dairy Produce suffered to a large extent from the 5,938.95 absence of so many regular liners visiting this port in addition to 48,597.14 which, of course, the number of H.M. Ships stationed here is not as many as in normal circum- stances. On the other hand the Ice and Cold Storage Départments enjoyed a good year and on the whole I think results may be con- sidered highly satisfactory.

items are still under discussion making a total, including the Cat with the Taxation Department. tle, of $861,152.40. Interest at $48,905.09 is some 、Heavier Stocks

$25,000 up on the previous year

reduction

at

but Repairs & Renewals at In addition to this, stocks $68,373,29 show a

of $1,365,353,84 show an increase of $20,000. Needless to say

our $450,033.80 on the previous year's Buildings, Machinery and other figure. This is reflected in the depreciable assets are being main-Overdraft with our Bankers and tained in the usual high state in the Interest Account, the totals of repair and efficiency,

of which are respectively $1,057,- 797.01 and $48,905.69.

'Final Dividend

Bonus To Staff

In the Working Accounts has been included a 71⁄2 per cent,

I think you will agree that the bonus on salaries, to the staff who As I previously mentioned the policy of carrying heavier stocks have worked loyally and efficient- balance of Profit & Loss Account in view of the uncertainty of ship-ly during a difficult year. I trust amounts to $451,849.05. To this ping and the position generally, is you will approve this bonus.

Having regard to the addition- has to be added $85,367.52 brought a wise one.

Reference was made from the al work and responsibility brought forward from last year, making a total of $537,216.57, from

Chair last year to the improve- about by the considerable increase which has to be deducted the Interim ments being carried out at our in our operations during recent Dividend of 50 cents per share

Kowloon Branch in Nathan Road. years our Auditors, Messis. Percy amounting to $146,667,50 paid in These were completed during the Smith, Seth and Fleming, have September last, leaving for ap-year, and th's Branch is now a made the request that their fee be

credit to the Company.

revised to a figure of $2,500.00 per propriation the sum of $390,549,-

We have had the benefit of a annum. It is 10 years since they 07. Your Directors. propose to

complete year of the extended were last granted- an increase in deal with this balance as follows: Cold Storage plant at East Point. their fee and your directors realis- Pay a Final Dividend of $1.00 per This has proved most satisfactory, ing the extra work which they share on 293,335 shares, $293,- Unfortunately owing 335.00, Add to

to the now perform consider the ad- Reserve continued scarcity of Fresh Fish ditional $500.00. which they ask $25,000,00, Carry Forward $72,- little use has so far been made to be not unreasonable,

of the Fish Freezing Plant.

year."

Cattle-

2:14:07,

"Turning to the Balance Sheet, I would call your attention to Cattle Account and in the first place to the item "added this The figure of $179;628.72 represents the cost of 187 Dairy

oty of Mr. A. B. Stewart. Having animals which we imported from Canada, Australia and the United

New Premises

served with him on the Board of this Company I can fully endorse States of America. This is the heaviest purchase made by the

The Company has for long been "What you have said as to the deep Company in any one year of its handicapped by the want of suit- interest he took in its affairs... It can I think; be fairly stated, existence but was fully justined, able "retail" headquarters and the as Milk sales touched a new high public have been extremely for that successive chairmen of the level, being over 1,000,000 bottles bearing as they must have found Dairy Farm Go, have a very full up on 1939. Sales and Deaths at shopping very irksome in the very and fair explanation of the Com- $143,205.09 represent animals limited space available botirat-pany's activities, and your inter- withdrawn from the Herd either Lower Albert Road and Queen's, csting address is no exception.

This is the first time that I by sale or death-at cost. This Road. With our new premises, to is a heavier charge than usual be opened shortly on the ground have entered Windsor House, and would like on behalf of shate- and to a large skidat is due to floor of this building, shopping holders present and absent to the fact that included in the list We hope, will become a pleasure, congratulate the Board and Man- We are only sorry that so management on having at long last Im are a number of animals. ported during the year. Imported of our regular customers are ab secured suitable premises for the animals particularly during their sent from the Colony. We trust convenience of customers and the Tirkt year here, do not possess the the day of their return will not

blic generally. When com- samo powers of resistance as long be delayed.

etic-I-feel-sure-the Restmirant urmals bred on the Farm, The As you will no doubt, have our. Tea Room Bode. Thantal Herd totalled 1,900 lat served a modern Soda Fountain pett will prove a great succe the end of the year, a record, Restaurant and Tea Room has we all long for day and must now be one of the larg been installed on the half-mer our many friends will: est stall fed Herden zenine floor. We believe this will trom their exile, to enjoy the istence. You will appreciate becomes a popular feature, All amenities which these fine pre- that the supervision and feeding these new premises have been sner of such a large number of animals installed with the most modern. termosginmodre vändṛrefects wish Bir-Conditioning system:

By the Crection of Buildings Seconder's Speech

and Plant at Aberdeen, we have Mr. J. Owen-Hughes in second- added 58,818 cubic feet to ouring the proposition said: Mr. Cold Storage capacity This ex- Chairman, I wish to be associat- tra facility was brought into sered with the tribute to the mem- vice in January last,

But for the evacuation of large Hümber? 61 Gour merkin July the When addressing you from the of milk would have Chair lasteamy predecessor even greater. Other departme mentioned that with the rising Including Bitchers, Ice Cream d cost of Fødder, Bottles Caps and Soda Fountains, suffered from ths. other necessities required for the same cause. The almost redor production and delivery of Milk; rainfall also had⠀u

upward revision of prices effect on the two latt

zyes i manta: The Butchery and

The Hon. Mr. T. EIPU

presided and

ed by Hon; Mrs 1 Hơn H. A L LAJ Davies, Mr. D. L (Directors); Mr;

(Manager), and Mr. cretary)) Amongst hardholders

port. Blake