NOTICE
CHINA LIGHT & POWER CO., LTD.
NOTICE TO SHAREHOLDERS
NOTICE IS HEREBY GIVEN that the Thirty-ninth Ordinary Meeting of the Company's Shareholders will be held | at 12 o'clock noon on Saturday, 16th December, 1961, in the Company's Hong Kong Offen, St. George's Building, 2nd floor, Chater Road, Hong Kong, for the purpose of
1. Receiving the Statement of Accounts and Report of the
Directors for the year ended 30th September. 1961
2. Electing Directors.
3. Appointing Auditors and fixing their remuneration.
Confirming the interim Dividend and declaring a Final Dividend.
4
The Transfer Books and Register of Shareholders will be closed from 28th November, 1961, to 16th December, 1961, both days inclusive.
Dividend Warrants will be available for collection, or will be dealt with it aerordance with standhing instructions, on or after 18th December. 1964.
Dated at Hong Kong this 23rd day of November. 1961.
By Order of the Board of Directors,
A. A. M. ONSLOW,
Secretary & Chief Accountant.
NOTICE
CHINA LIGHT & POWER CO., LTD.
NOTICE TO SHAREHOLDERS.
NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the shareholders of the China Light & Power Co., Ltd. will be held in the Company's Hong Kong Office, St. George's Building, serend drove, Chater Road, Hong! Kong, on Saturday, 16th December, 1961 at 12.10 o'check in the afternoon for us soon thereafter as the Annual General Meeting due to be held at 12.00 alelock noon on that date shall ¦ have been concluded) for the purpose of proposing, and, if thought fit, passing the following Resolution as Special Resolution:
"That the Articles of Association of the Chateny as amended to 27th November. 1948 and as satisequently amended on 3rd Doceniber, 1949 and on 16th December, 1960, shall no longer apply to this Company, and that in lieu thereof The New Articles of Association dated *16th December. 1961, a copy of which New Articles has. for the purpose of identification, been signed by Mr. Lawrence Kadoorie, LL,D, Chex, Løg. Hon, Chairs man of the Board of Directors of the Company, he approved and adopted as the Articles of Association of the Company."
THE CHINA MAIL, FRIDAY, NOVEMBER 24, 1961.
DEVALUATION RUMOURS HIT
UK SECURITIES
of Government issues Weakness
trading on the Stock Exchange.
LONDON
Prives te sharply on a ben
because of devalua-
front, apparently Famous of a passable Luk of the pound sterling
tuber sectors were quiet and 26. Bank and insurance
Telee tod
drop ira bones and showed archile lenses Hongkong and Shamut Bnk droppedt 157 1
1. Dowever, were not atteries! although some
fde's Eged slightly. Electrica!
egrament shares were steady,
Gold share were down over fairly brNICE froir!. Coppers And this myproved.
Qu shares failed to maintain that gulis
Closing prices
LOVT SECS
WORKIN (505 38 TOBACCOS
516
Sav
55/465 Gera
4 Vk
išras BONDS
Australia M77/80 14
Dow
Tag Ass 157, HANKS & INSURANCE
N. & rind 33/3 Paul A
Shell Tes
R Royce
TEXTILES
CORES JP
featured yesterday's
THE BALTIC
EXCHANGE
London, Nov. 23 The main feature of today's freight
market business Was the
เ River Pale grain charterers who Bxed two ve-sels to the Conument, one measurement cargo 1 72. aboard the 1,500-ton Nicky' okd another Liberty sized
abeard the Portago
70/-
Japan took
a Liberty soup cargo from the
Alianic
roust at Jumpstan $140,000
To Bui slowed terms Tar
Frederico Parodi' also
The the un-
accepted
changed rate of $5.50 to work 11.250 tons of grain to Antwerp, Rotterdam or Amsterdam
Japans also took coal cargo from the Hampton Roads at the rate of $8.50.
were
Time churler aralings confined to the booking of the Ikmos' on a voyage down fram the Gulf to Brazil at $.025 day 47/104,
BREWERIES
STORES
GURRIOS
38/4/
FIXTURES
Full over plate to Antwerp- Hamburg rangr.
Portadur Imaler: 9.00 tuns. 10 per cent, 11-10, heavy grun, December 70- 38/71
oplum EK discharge 75s, with 1,000 gross discharge UK, 2.000 gross hischarge Holland/
2.50% gross discharge
A
*The share market
HK Bank Lombard Wheelock HK Wharf
HK Recy
HK Trams
Star Ferry
یر بریان
at
glance *
Dividend
& Bonus
Арргех. Yield (%)
2903
نگاه
Up or
Oct. 26
Nov. 2
Nov. 9
Nov. 16
Nov, 23
352
354
366
364
354
Down -810
$60*
420
b
420
421
4lb
-$1
$2.25
5.5
12.50
12.80
12.90
12,90
12.40
750
346b
34811
354
352
348
$4
$12
HK Docks
122
122
125
125
124
$4
32
Talkoo Docks
65
061
71
7)
70
$1
$3.20
4.53
Provident
201
29.80
31
30%
28.70
$1.30
4.37
HK Hotels
41
41
43
43
$106
--$1.50
7.2
HK Lands
68
$11
74
174
721
-$2
$2.40
3.3
2.276
2.275
2.225
2.175
2.175
steady
13.750
6.3
38
381
3912
41
39
--$1.75
$2.05
5.2
2241
2201
2181
220
218b
$10.50
Faumatis
116
128
121
119
117
-$2
$9.50
Ch Light
372
3814
41
4012
384
$1,10
Electrics
38
381,
40%
40
3834
---$1.25
$1.70
4.38
HK Telephone
43
43
45
434
-$1.75
$1.75
G. I. Cenjent
61
621
671/2
88
w$1
$4
Dairy Farm
35
3514
37%
3714
203
$2
A. S. Watson
4710
4914
54
56
+$2
$2.50
39
3914
3844b
38b
25
*2
$3
Int'l Investment
135
121%
13.20
12.80b
121
-30
ย
9.201
0.25
*9.00
9.30
9.80%
HK & FE Inv
20.40n
20.400
21
21.30
20.90%
---40c
steady
$1.25
13.4
$1
4.8
Textile Corp
6.40
G16
6.20
6.10
5.95b
--15c
50c
RA
Nanyang
11.60
12.16b
12.40
12.106
12.40%
sleady
31.10
9.1
Kowloon Motor Bus
73.
7272
1712
Jardines
24.20
24
24.60
24.60
24 24
$3
$2.80
3.78
80c
• When shares were five times their present value.
BID TO
REDUCE
Lane Crawford
Allied
U.S.
---B0c
IS
3.3
SHARES AGAIN Japan-U.S.
TARIFFS MOVE HIGHER
Washington, Nov. 23. private committee sup porting liberal trade policies has urged Prepi- dent Kennedy to support
ON HK MARKET
sweeping legislation next There was a further improvement in prices on the Hong-
year that would permit lower tariffs on foreign imports.
I statement submatted to the White House last Monday, the Committee for a National United Trade Policy said the States must liberalise its tracie own benefits regulations to
and forec economy
tighter economic ues with other coun- Iries.
kong Stock Exchange this morning when buyers again pushed the turnover post the $3 million mark.
14102
The ab hist of petes shows that during the last week prac-
every rally
share showet u loss and yesterday's renewed actively followed up by This morning's buying suggests; that low rates have triggered ett a few demand
few The
microwave tube venture
Lexington, Nov. 23. Raytheon Co. and Japon Radio Co. Ltd. of Tokyo
have completed plans to
form and operate a new electronics
company in Japan, the companies op- nounced yesterday.
The firm, to be known as the
Japan Co. will en
HONGKONG Kwer and produce & corpleie
line of microwave tubes. It wil!
be backed by the remurves of
This morning's quotations and the parent firms. The new com- prices were:
Phones
470U. 35
200! 3*
48/
HAT Camelus
G
Gulf trudes
64
S
Impa
MOTORS
88/9
50%
BMC
14/41,
937m
Hawk Sicht 21/41
Jagtor
12/44
3/3
Bradford 12/4 Caflen
12/6 1/8
Courtauld
ne Spin
27/9 117/0
Flax!
Cand 4k
#5/ti Sava
Lones
Con
Catslibe
SL/
1K Bani
14
1.W-1
HO/1/
Gulnaess SM4/7
Fly fis
85/-
In Coup
Lembaga 1/4
Watney
19/6 1EKS
25
55/9
EN 13 C
Gussies A
5078
RA Ins Gh.
4555
House
Frase
il Pel Burmah
Bank
32/4 12/
1350 354
Lyons A
M. Spen A
20 350
11076
Tute Lyie
41
Und Drap
104/3 472 477-
24/6
Woulworth
20 332
STEELS
MIS LANEOUS
ENGINEERING
2/6 45/6
Frit
OXMTWT
Hampton Bay-Tobula
50 352 Go in 352
Shap
20/41,
24/3
CPR
4392
9290
737
Chunnel
cert, rual. February
15/March
3/1,
City Lan
79/8
25. $8.50, free discharge
42
5350
38/104 42/16
9,500
437-
36/0
HK Cas
23/9
Hudson 8
23/ 4-3/16
Indo-China
17/0
(ons dwe: 475,000 bale
December 10/30. Turnpsum $140,000. rio and stowed. --UPI.
scrap,
It also
were
Land Sec
President should have authority stronger and showed a gain of
Dock
A. A. M. ONSLOW,
Secretary & Chief Arevaniant,
As Tel
32/
PO
307-
Het s
57/3
MINER
EMI
41/9 Anglo US
Fug Fir
b12.40 $12.60 10001246 7000 to 12. 1.1000 # 12%
b126 127 400 4125 2000 120 900 127
900 70
U.S. MARKETS
Tex1 400 7045
1500 6 42
on yesterday's Dnal price.
Land
Really slackened off slightly but the utilities performed well win Trams, KMB.
0007
9000
100 25
Ral T City
Lights,
1700 7252
How! 37 38
009
البد
Copies of the proposed New Articles of Assocmlion are available to shareholders for inspection during office hours af the Head Office of the Company. 147. Argyle Street, Kowloon, and also at the Company's Hong Kong Office, St. George's Building, 2nd floor, Chuter Road, Hong Kong.
Dated at Hong Kong this 23rd day of November, 1961.
By Order of the Board of Directors,
By uteri
Bab Wi
Codylles
13 Lonk
G Keen
F5 WoT New
1.145 Spelers
try
100 SUNC Vickers
FLECTRIC
As Ele
Borax
De
Juniop
Pistons
Gaiman
Bowmaker 14/7
Cunard S
14/71 Forestal 9/1
Purces W
בצת' .1
52/72 3/-
MI isa 15/1 Petaling
to
Roads Tukyo Range, 'Morven' (autor). 26,000 ions, 10 per
US Atlantic coast to Japan Lussios
W
Banks were one of the "We regard 1962 as the your exceptions this moming of decision in United States, London Irsted share shows
the drop of 15 shillings and on the foreign economic
policy,"
fight is local market they were A major group said.
varying fron expected in Congress next year settled at rates when Mr Kennedy seeks exten- $348 to $354 They finally rinsed thewe dollars down on yesterday's sion and liberalisation of-
Just puler reciprocal trade programme.
The trade
committee policy proposed that Congress give the Presiden
Laritts reduce power to by 50 per cent for a period of fionally while Decks tacked on five years.
the three said
dollars Taikoo
STRONGER
were
Wheelocks
frac.
o piace additional items on the 50 cents on last night's closing duty-free list.
rate
Bank
20348 2035)
5353
1. Reg Leak 206 HK & FE Whatt
Wheelock
Hotel at $42 is steady, while Telkoo 670 870 Lands opport
firm only to ease 50 cents during the more- Prov 20 tog. They are however steady
$72,6 373
pany's products will be market- ed in Jap
in Japan and 1180 Radios.
by Japan
Administrative
O b 844 in Tokyo,
the Far Eas
offices will be
Engineering. Ma
warehousing
and 4904375facturing
New) bi, 42
500 413 facilities will
Gas b21.19
A21.30 Tokyo suburb. 2000 21.10
Initially, the 2500 21 20 have about
(800 21 20
be in Mitakc. a
company will 150 employees. in-
GU DA 15 84.20 cluding graduate engineers and
1000 or 4.15
Ewo b21.10 240
50 24.10 250 24.10
500 in 87 4000 $1
Cement 667 867
1100 B
Dairy 30 $30
scientists now with the Japan
Radio Company.
Japan Rakushika
Radio
Co. Ltd. and Co Securities
Lid. will have a majority interest in the venture with Raytheon hold- ing the balance. Japan Radio and Raytheon will both be repre- sented on the board of directors. Raytheon will provide know> ›
secrets and patent how, trade A Rut b4.80 64.90 rights while Japan Radio will 50 #98 transfer all its interests in
300 30 Water bal
100 BT b5.00 96 110000
12.40
8387 4.85
| microwave tubes to the new firm.
UPI.
Explanatory Note to Shareholders in connexion with the Extraordinary General Meeting to be held on Saturday. 16th December, 1961, following the Annual General
Meeting.
27/3 Corp 140/1014
19/-
26/ Brit Sith At 57/9 B-23/32 Brit Th Bus 46 Cons Zinc INDUSTRIALS Ass Cem Boardmun
UNIT TRUSTS
48/1 Buyer Prices, first Hongkong De Beers 148/10! fund $1.13: second Hongkong
15/715
54/ fund Ex. Div.: $0.89,
60/9 Rand So
28/3 Rhod Anglo-
US Rio Tink
30/10% 5/115 11 Corp 14/9 Far New 68/1 Roan Art Untiever CHEMICALS
The stock of expies of the Memorandum and Articles of Association of the Company being low, it is necessary to make further reprint. At the same time your Board is of the opinion that it is desirable to bring the Articles in line with Table A of the United Kingdom Companies Act of 1948, having CINEMAS Tv regard to the special conditions of the Company and the Colony.
While the changes in the proposed Articles may appear to be many, basically there are very few. The mam alteras tions in the proposed new Articles are:
1. Increased fee for arw share certificates issued, from
$1.00 to $2.00.
2. Share certificates and cheques will require the signa- ture of one Director instead of two Directors, and they will be countersigned by the Secretary or by aume other person appointed by the Directors in his stead.
3. Directors' fees will be increased so that each Director will receive $9,000 per annum and the Chairman an additional $8,000 per unmem ever and above that for each Director, in place of the lump sum of $38,000 allowed under the present Articles.
4. Provision for appointment of alternate Directors.
5. Right to charge $2.00 for registration of certain doca- ments relating to the Company's shares, such as Grunts of Probate, Letters of Administration. Powers of Attorney, etc.
6. Provision permitting a shareholder's proxy, though not a member. to vote at meetings and for a proxy to demand or join in demanding a poll.
Dated at Hong Kong this 23rd day of November, 1961.
By Order of the Board of Directors,
PHILIPS
ฟ
A. A. M. ONSLOW, Secretary & Chief Accountant.
PHILIPS LAMPS none better!
GILMAN & CO., LTD.
PHILIPS LIGHTING DEPARTMENT
DA Selier Prices, tirst Hongkong 42/6, fund:
$1.21; second Hongkong 55/9 fund Ex. Div.: $0.95
407- 4/7
5 41 C
እዝ
Rubber market
London, Nov. 23
Welkon
13/7
27/3
West Rand
KT
Mansarla
20/1095 17/3
West Hold 129/101%
S Mal
RUBBER
A
25/0
TEAS
30/3
Anglo Indi: 4/1/2
The iber marke!
7
Ceylon Tea
16
Imp Tevr
17/3
22 perce
Leunibak
Assoc Pr Jiank
PAPER Heater
De Le Blue Solvers
44/2 KL Kepong 2/714 53/6
38/4
403
was
slightly casier with spot quoted
market
the In Amsterdam, ....-Ft<!</ was steady today.-UPI.
MORE and MORE
PEOPLE ARE OPENING
6%
BANK
DEPOSIT ACCOUNTS
with
LOMBARD BANKING
SECURITY Share Capital and Reserves
exceed £12,000,000,
INTEREST Your funds earn interest from the day you deposit until the day you withdraw.
SAFETY
NO Capital Depreciation.
ASSETS EXCEED £100,000,000 Interest paid without deduction of United Kingdom
Income Tax
Write today to the General Manager for your copy of "Bank Deposit Account" booklet No. A.O. 74
LOMBARD BANKING
LIMITED
BANKERS
Head Office: LOMBARD HOUSE
CURZON STREET, PARK LANE, LONDON, WJ
-GROzimmer '41£1 (30 x=0)
A World-wide Banking and Finance Organisation
HOLIDAY
New York, Nov. 23. All securities and com- modities markets and banks were closed today in observance of the Thanks- giving holiday...---UPI.
TO ABANDON BUY
Electric. Telephones and Gas all? & P 29 70 30 showing better prices.
100 @ 29.80 Hump b25.30 825.70
500 @ 28.00
Jardines was fractionally bet-Realty 12.26 2.175 A Nav 52.90 3 ter, as was Cement.
Watsons put on another dollar, N and Dairy Farm was one of the Tram lew exceptions today, casing to $36 4
NO RETURN The market
AMERICAN POLICY week of
Washington, Nov. 23
2250 @ 2.925
50000 60
100 / 29 30
312502.15
3450 2.00
Realty
Bus
b1.96 02.05
1000@3916
770 75 100 00 74+1⁄2
b A Mane
$ Dock 53,60
Star
10176
Yu
Light
the
4000 40 3000 40
thus ends :: firm note though there has been no return the big turnovers that were a feature of the share market
L Craw
500 2.60 216 x222
N30
Exchange rates
Business
was done .: the unometal excliange market morning at the following rates U.S. dollars (per 1 Sterling notes iper £11. 1420 Australian notes (per £1
Japanese yen
(per 100)
57 she be 12, K1200 10 9401 Macao
5 Land 43 Amoy
145 bis 58.80
3000 40 Sine
b12 10 HK mec 63014 140 Emp
1000 39 Const 17.80 500 39 J Cunsul b35c
An American attorney repre- senting Japanese steel producers earlier this year, and on the Faid yesterday he believed whole Traily increases authorities in Miami, Fla., will been much more modes: and
American" sensible.
abandon
have
in-
"Buy policy
materials On
for the A glance at the above box $20,000,000 Miami International shows that a number of shares Seaport
are yielding well now and жам
Bids for contracts. to supply should prove attractive to steel
other and
construction vestors. materials for the project already had been received from Ameri- can firms when the Japanese interests complained against the "Buy American" policy.
Attorney Nelson Stitt said that after presenting his case against the restriction during a hearing in Miami yesterday, the project authorities agreed to ask the country attorney and Such an agreement manager for permission to call inevitable but there is no sign for now, international bids of It materialising yet, despite UPI.
growing public impatience.
tb.:
Vouterday's Clashg
with their Electricity shares. comparatively lower yields, con- tinue to take the limelight art this is possibly due to continued speculation that Government will shortly permit the company to pay higher dividends, even if at the same time it imposes sale- guards for consumers which will eut into profits,
scemts
COMMODITY PRICES
RUBBER
LONDON
Closing rates, all in pence per
Mixed Contruct: Dec. 24.20; Mar 24.30: May 24.35: July 26.00 Oet. 24.85 Dec. 21.85-UPT.
FOREIGN FACHANGE
Settlement house term: Dee: 2230- 22: Jun: 224-23; Feb: 28-231 Mar:
LONDON 23-2014; Jan/Mar: zaj* ADALLY
Closing rates: Jum: 234783%: July/Sept: 2014-235;
New York 2.8-2.8135: Montreal Oct/Dec: 231–2315-
3,8216-2.0210 Amsterdam Gontral
10.119 markets.
base 10. Brutsele cit
140,1245-140.3712: ports:
Copenhagen 10.30-10.3016 Lisbon 2235-2274:
thin 60.10480.28. 29: Jan: 28-UPI.
Doc:
2214-2015
Estate
drepe
Jan:
London tin
London, Nov 23. Tin was steady but quiet with spot and three-months easier at £980 and £967% per long ton.
UPI.
Cambodia el per 100) French new franc iper I Brazilian cruzeiro (per 100) Argentine paso (per 1001 Korean hwan (per 1000; Italten iro (per 1000) Chinese JMP per 1) Taiwan yuen per 100) Thai baht per 1001
local Lis
5.572
16 78
12.00
149
1.70
13
1 Gu
5.20
7.00
8:90
044
126
20.84
Bummene kyat (per 10, Pakistan rupee (per 10) Macao pataca (per 1) Norwegian krone (per 201 Philippine peso (per 11 Singapore Straits (per 1 Swiss frane (per 1 Netherlands guilder per 1 West German D-Mark (per 1) Cuba peso (per 1)..
5.45
7.20
+590
T:15
17
J841
131
152
0.110
Japan, Malaya to set up
new steel
mill
From GREGORY WONG
Kuala Lumpur, Nov. 23
An agreement to set up a $60 million joint Malayan- Japanese steel mill — the first heavy industry to come to Malaya and Southeast Asia has been signed. The new company, Malaya for the purchase of 100 acres wata Steel Projects, has 51 per of land in the Praï distrikt f cest Malayan capital with the Province Wellesley, amall Yawata Iron and Steel Co. Ltd part
the west coast tỏi
GI
holding the piggest share (25 Malaya,
per cent) on the Japanese side. The ether Japanese com-
Nittetsu Mining
The plan', which is expected
hydro
panies in combine are the to use power from the glant
Highlands Company (o Cameron per cent): the Irimaru Trading electric power station will be built in two stages. The frat Company (seven per cent) and the Kinoshita Trading Company will be eady in March 1984
and the second in March 1965 (seven per cent).
12 directorshipe of the Estimated production OF
The
Dec: 26: J: 2516: Thick Dee: Milan 174-17474; - Oslo 20.09 new joint conzern are divided Sibge-1 is 120,000 tons of sponge
20.022 Paris 13.00-13.01% hola 14.64-11,347 len 12a7-72:10: Zutte 12/11/12.17 UPL
AMSTERDAM Closing rates, all in guilders per kilo:
Dec: 1,27 No. 2 No. 1 rubber rubber Dee: 9.24: No. 3 rubber Dec; 131: Na drepe. 1.37---UPI.
METALS
evenly between the Malayan iron and 60,000 tons of bars a and Japanese inveelors with a year. Malayan, Senator T. H. Tan, as In Stake 2 the same amount president of the new company 83,600 tons of bars and other ah additional of sponge from PIONEER STATUS items, including pilg Trab Although Malaya exports (72,000 tons a year) and steet quite a lot of iron ore from the nots (120,000) are expected to east cost to feed Jabsilest be produced. 4 year. Blast tummages, there
The company is expected to will not be reduced as The employ 800 people when in full Malayan mill will only use fine now buyers 661 setler: abre which is not normally do, and expected
to Malaysins to Japan for Cloping rates, all în pence per medica: 22000 2214A
ble for export.
The company, which is up- Meanwille · in
Singapore plying for pioneer status which discussions are still going on will give liave your's tax free about the feasibilty of setting
geration, le now negotiating up a steel mill in the state.
COTTON
AVA MYNG" Anagorde 37 VITAM, 2500 LIVERPOOL
1b:
American Contract; : Deo. 22.8811 Mar. 24.50; w00 RADY G dot. 91,401 D07 14:401–2047, 14:40,
|
LONDON
Closing rates, all in pounds sterling per long ton
mörkbki",DOJ) 007
Copper Foot: 20914 : 5
Leaf spot?" Alb 614-months: 02145'02YES,
Zlue pot: 2013 2014: 8-month
115 71,20-UPI,
+
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