238
4
"ONE MAN SHOW!"
July 20.
Lengthy questioning, which de- veloped into discussion and argu- meat, coupled with outspoken criti- cism by a shareholder who advised "shutting down," were the main features of the 3rd annual meeting of the Hongkong and Kowloon Taxi- cab Co., Ltd.. held to-day.
Mr. J. W. Kew went into the ac- considerable length, counts at punctuating his questions with sarcasm and comment. Another shareholder, Mr. F. S. Harrison, also Joined in. Mr. A. H. Rowe, manag- ing director, gave most of the re- plies while Mr. H. Birkett (chair man) also answered M.. Kew.
Beatdes those mentioned there were present Messrs. Sum Pak- ming. T. N. Chau (directors) and H. M. Kew, A. Nissim. C. A. Fulcher shareholders).
Last Year's Features. The outstanding items in the re- port for the year ended April 30,
1926, are:-
11 lakhs depreciation written off in 26 months.
$40,000 profit last year instead of $46,000 loss, as result of farm ing out the fleet of taxis.
Concessions obtained from the International and French settle ments, Shanghai: 50 taxis will be sent up from Hongkong.
OVERLAND CHINA MAIL
difficulties this Colony has under- gone and is still undergoing and had these difficulties not existed our profits would have been very much greater and here I think we
tribute should pay a
to your Mr. A. H. managing director, Rowe, to whose able management we owe a lot.
Last year I made mention of certain calls in arrear and that the shareholders had been called on to pay with interest on third call and that in default of payment the shares would be forfeited and sold in accordance with our arti-
of associations. cles
Those shareholders who failed to respond have had to forfeit their shares which have been dealt with ac- cordingly as will be seen by refer ence to the balance shee1.
Shanghai Prospects. Since our last meeting. our managing director has secured for the company a concession from both the International and French Municipalities of Shang- hai to run taxis there and your directors propose to transfer about 50 of our present taxis to Shanghai and to replace them later with other taxis for Hong- kong.
By referring to the report of your directors you will note that instead of paying a dividend this year your directors thought it best to carry forward the total amount of the profit against the debit balance brought forward from last year and I feel sure that this action of your directors will meet with the approval of all the shareholders.
After the report had been read by Mr. Rowe. Mr. Birkett opened his address with the customary re- ference to report and accounts. He then said:—
will You
note that the Balance Sheet shows a profit of $40,022.18 as against a loss of With these words, gentlemen. I $46.680.14 shown in our last will now move the adoption of the Balance Sheet.
The profit of accounts and after this has been $40.022.18 is made after writing seconded I shall be glad to answer off $50,055.57 for depreciation. to the best of my ability any This allowance for depreciation. questions that any shareholder together with $108,218.45 siready may care to ask. written off previously makes a total of $158,274.02 written off to depreciation in two years and two months" trading and by writing off these large amounts to deprecia- tion it will be seen that your directors are still following that bold policy of making ample pro- vision for depreciation which I mentioned to you at our last an- nual meeting, and I feel sure that such action will meet with the ap- proval of the shareholders.
Tribute to Mr. Rowe.
Mr. A. Nissim seconded.
The Questions.
Then began the series of queries and answers, the gist of which was that:
Taxis to be sent to Shanghai will be old ones, rebuilt here. The Hongkong fleet will still be ample, in good order and service.
Cushion covers and drivers' uniforms, in balance sheet at : Such articles were used at $3,434.48 (whole amount written
first, but not after farming out. Most of them were lying about and were valueless.
Mr. Rowe also explained an item der furniture and fittings. Taxicabs, standing in balance sheet at $113.844.95; There were 80 cars, worth about $1.400 each, and they were value for the money.
You were told when we last met together that your directors had decided to farm out the company's taxis to a syndicate formed by the drivers themselves and I have pleasure in informing you that this venture has been eminently successful as by this means your directors have been able to con- vert a loss of $46,680.14 into a Cars and trucks, $56,779.46: profit of $40,022.18 which, I think, Comprised Buick cars and G.M.C, is very satisfactory, especially trucks, of which the company were when we remember the financial agents and sold many, some new
machines being disposed the exchange system.
[No. 2998. July 22, 1926.
Parts and accessories, $46,000; The majority taxis, which the lessees keep in repair.
of on
at over was for had to
last
It year. count abled another company to start because the turnover was given. The accounts were printed as ad- vised by the chartered account- ants.
said
en-
Several times Mr. Kew that the directors had acted in a lax manner. The shareholders were mostly poor people, he add-
People Who Don't Pay. Trade debtors (over $32,000) was mostly rent owing by the Development Co. and Morinaga's. Steps for recovery
were being ed. taken by their solicitors.
Replying to a question as to a list of sundry creditors, and if credit was given to anybody, Mr. Birkett remarked "If you saw the names of people who get credit and don't pay, you'd be sur- prised."
85
to
Mr. Fred Ellis owned the company
over $18,000 the result
sale the of him of Xix
trucks, motor on which the company made $6,000 profit. The transaction was on the easy-payment plan. Mr. Ellis met his first two notes and then did not pay. The con- pany held security, then worth $35,000 from him, in shares of the Development Co.
Mr. Kew retorted that it was bad business to lend a director money on security of shares which now were not worth anything. Both Mr. Birkett and Mr. Rowe emphasised that the deal was not a loan, but a sale.
in
Cars In Colony.
On the Buick agency, the com- pany made $7,000 this year and $25,000 the year before.
When Mr. Birkeli observed that there were more Buick cars the Colony than any other make, Mr. Kew retorted—“Yes, in Rowe's godown.”
Another remark of Mr. Kew's followed an explanation by Mr. Birkett that
em ployed a number of workmen to cars up, in show-windows, etc.. to expedite sale. Mr. Kew said "I suppose the workmen are to look after the new Buicks.**
put
the company
How It Ended. "Instead of sending taxis to Shanghai, you had better get good cars here and replace the rattle- traps. Make this part pay first before embarking elsewhere."
Mr. Kew also commented on the expense he alleged to have been incurred by Mr. Rowe in trips to Shanghai and Haiphong,
When put to the vote, the ac- counts and report were carried. there being no dissentient.
Other business passed by the meeting comprised:-
Re-election of Mr. H. Birkett and Mr. T. N. Chau as directors- proposed by Mr. C. A. Fulcher. seconded by Mr. A. Nissim,
Re-election of Messrs. Lowe. Bingham and Matthews as audi- fors-proposed by Mr. T, N. Chau, seconded by Mr. Sum Pak-ming.
YOUNG PRODIGY.
July 17.
Following an appeal made on be- half of the dancing prodigy. Miss Mura Shipoff, we are informed that the proprietor and manage- ment of the Lee Garden have set the ball arolling in the way of benefit performances.
It has been arranged to give this at the Lee Garden (weather permitting) next Friday, when a special programme will be sub- mitted. The proprietor of the Lee Garden has generously ar ranged to bear the necessary ex- penses incidental to the benefit performance, such as orchestra and programmes, etc.
The admission has been fixed
Mr. Birkett observed that $15,000 for salaries and wages at the very reasonable sum of one was not a big item for twelve months. Mr. Kew-No, when you say it slowly."
In Deep Water?
dollar, including gate fee, and it is to be hoped that the public will turn out in large numbers and make of the benefit performance a In advising the directors le dis- real success. As has been re- continue business, Mr. Kew said marked already, by their patron- of getting into deep water in "doing their bit" toward assisting something about the possibility age of the concert they will be
future and shareholders being a very deserving cause. Booking afraid that a call of $2,50 per can be arranged with the Lee
Garden share might be made.
management
Mr. Birkett-"What for? don't owe any money."
We C.2244).
Mr. Kew "The best course. take it from me, is to wind up before further trouble. This is a one man show, run for the bene- fit of Mr. Rowe."
(phone
On being accosted by a con- stable at Reclamation Street on Saturday night, a Chinese dropped Mr. Kew complained that there a Maçk he Was carrying and was no working account in the racaped. The sack contained eight report. Mr. Birkett said that revolvers and 800 rounds of ant- they published the working ac- monition.
(No. 2995. July 22, 1926.
COMING HERE.
July 19.
The Hongkong office of the Asia- tic Petroleum Company have receiv ed information that the Marchese de Pinedo is shortly commencing a new light from Pisa, Italy.
remembered will be
that
It
Pinedo passed through Hongkong last October during his fight from Rome to Australia and Japan and
back to Italy.
For his new flight Pinedo intends to use a seaplane and his route will
follows: cover 60,000 miles, as From Pisa across Spain to Lisbon. to thence by way of the Azores Newfoundland and New York; from New York he will fly to Seattle and down the enast to San Diego and thence across country to New Or leana. From New Orleans he will pasa through the West Indies to British Guiana, and strike inland aerosa Brazil to Riu de Janeiro und on to Buenos Aires, and across the Andes to Valparaiso,
His route afterward will be us follows: Easter laland. Man- gareva, Tahiti, Samoa, Fiji Islands to New Caledonia, New Zealand and Australia, Afterwards he will touch at various points in the Dutch East Indies, Manila and North China, flying inland to Hankow and still inland to Saigon in French Indo-China. The remainder of his
route
Covers Rangoon. Calcutta, Ceylon, Chagos Islands, Seychells, Mauritius to Beira, then round the coast of South Africa as fur AN Boma to the Belgian Congo; he will then strike inland to Tanganyika, and flying through Uganda and up the Nile to Cairo, along the coast to Tripoli and back
the Mediterranean to Pisa.
across
The Marchese de Pinedo expects to arrive in Hongkong early in November on the return part of his fight.
At the request of the Marchese, the "Shell" organisation are mak- ing all the necessary fuel arrange- ments for the entire flight. "Shell" aviation spirit is again chosen on account of the excellent result ob- tained during his last flight when 34.000 miles were covered without the slightest mishap.
MOTOR MISHAP.
July 19.
Mr. R. M. Johnson. of 17 Hum. phrey's Buildings, Kowloon, reports that while driving a motor car along Castle Peak Road on Saturday in the direction of Tsim Sha Tsui a woman ran from the hillside and was caught by the fender sustain- ing minor injuries. She refused lo go to Hospital and was compen
sald
Mr. M. Manuk returned to the Colony from Australia on Thursday by ... "Taiping"
OVERLAND CHINA MAIL
WELL DONE.
Seow-chong, Henry Chan, Yip Tai- sary, On Lock Yuen, Chiu Shun Co., kong, Ue Wing-kan, Li Lam-san, A. S. Watson and Co., Daibutsu
Cou
Aerated Connaught Mr. Oung, Lam Shiu-tong. Prof. and
July 19. The bazuar which was recently Koffey, Dr. C. K. Ma, Chen Po-yew, Water Co., Hipson and Co., Chung held at the University in aid of the Li Chi-fung, Mrs. Yung Hin-lun, Wah, Photographers, Ma She-kee, New Building Fund of St. Stephen's Kwan Fong-kuk, Chan Kit-son, Li Tung ling Chung Kee, Cheung College resulted in a net profit of Shiu-kau, Chan Mung-hung, Li Yat Fung, Mee Cheung, Tsui Tak- Li Shui- loong, Tai Lee & Co., Ming Wah Co., over $5,400). On this result the Wai-hon, Yip Tai-chiu, students and all who helped in the kau. Ho Taz-shun, the Rev. S. C. Wah Hing Ming Kee, Mee Fung organising are to be congratulated, Waldegrave, Kwok See-loi, Wong, Matting Co., Man Ying Bookstore, Wong Ping-cho, Pang Kok-sul, Chan Ka-kan, Ying Wah Bookstore, and especially the Old Boy whom they invited to be Chairman-Mr. Chiu Ying-po, Lo Yung-po, G. Hip Woo, On Tat Electrical Co.. A room in the Zimmern, Fung Man-sui, Anony- Nam Shing, Chau Tick-chan, Pong Chan Cheong-nin. new school will be named after the mous, Tang For, Dr. S. W. Phoon, Shiu-kee, Pong Shiu-hung, Lee Mui- Messrs. Ching Shan-chan Soep, chi, Abbaskhan and Co., Wing Ming, 1926 Students" in accordance with
Mrs. ('. Y. Watx. Li Chio-chi, the privileges granted to sub-
Messrs. Ip Hing Ah Shiu, Messrs. seribers to the New Building Fund.
Tak Cheong. Un Kee-so. Wong Man- on, Wong See-chi, the Rev. H. R. Lindsay, the Tin-yau, Lao Shiu- Miss N. Elliott, chi, Ho Chi-fan, Mrs. Un Po, Shum Pun-ying, H. B. L., Dowhiggin and Miss lanes.
Donors-Dairy Farm Co, British
The Committee wishes to thank the following patrons and Com- pauies who kindly contributed to
the bazaar;—
Cheng Tin-tau, Patrons: Mr. Sir Shou Son-chow, S.S.G.C. Asso- ciation, Messrs. Kan Wang Yip
Phaton by Lea Fong,
Heave-o! A snapshol taken during the Novelty Race for motor-cycle cambyinstions the H.K.V.D.C. motor and pony gymkhana. The passenger was mixed with the giant tin of Capelane, sawdust, and he had other jobs to perform,
W.
DOWN SOUTH.
Present-day conditions in New South Wales under the Labour Government are portrayed by a
letter which Mrs. Maud Woods has received from her sister, dated June 23:-
one
"I have my money in industrial shares, steam, coal and breweries, ete, but I'm in for a bad time with reduced dividends-which are inevitable, owing to this Labour Government, making gods of the workman. It is a new xet of State insurance laws, operating on July 1, and is killing overy
but the working IS 31. For instance a gardener, for whom one paid 18s, per annum insurance against accident in the past, has now to be paid £5; a man employed in a brewery, for- merly 13s. 6d. per annum, now 788. 9d.; bakers, similar trades. and so on, and milk carters from 40s. to 140.; a miner from £10 to £50; and there are hundreds and hundreds, close to a thousand, all taxable. If I can get a paper (I have to keep the one I have) will send it to you. It is really unbelievable.
Tong, Mr. Lam Ping-mau. the American Tobacco Company, Lane,
"The Insurance Companies will Bishop of Victoria. Sir Henry Crawford, Ltd. Neatle & Anglo- reap a harvest and I don't own one Tso, Messrs. Swiss Condensed Milk Co., Asiatic share in them. Just imagine, Pallock, Dr. S. W.
Petroleum Company, Lever Bros., say, in Farmer & Co., something W. L. Pattenden, P. Lander. Mok Kon-sang, T. N. Chau. Li Hoi-tung, American Milk Produce Corpora- like 1,000 hands employed, having Lai Kwai-pui, B. O. Blaker, Prof. tion, Anderson Music Co., Commer to pay 48s. 9d. instead of 10s. per Press Ltd.. Pathe Phone head, and I see in the list that Brown, MTS. Wong Kwok- cial ahuen. Lo Chung-kui, Sum Pak Cinema Chine, Ah Ying & Co., domestic servants have to be in- ming. Hu Sai-iu. Au Lim-cheun, Au Shiu Kee, Fairlea School, Ng Yuen sured at 52s. 6d. a head, instead Long-hin. Au Shou-chu. So Shau- Hing, Hongkong University, Sun of 5a. Every trade, musicians in- nam. Chan Foon-tin. Chan Mung Co., General Electric Co., Victoria cluded, are in the list. A boy who hung, La Chor-chi, Chak Yu-tong. Home, S. Moutrie, Standard Oil Co. delivers newspapers costs his em- (hak Kwong-kai, Ng Ilon-ting, at Swalow Trading Co. Fak Wing ployer 70s. instead of 12s. a year. Lai-ting, Poon lang-po, Wong Tai Hongkong Lace Co., Ah Men King I could go on for the next hour
Hing. Pohoomull and never finish. kwong. Hui Ng-shuet, St. Stephen's Cheung. Lock
Store. Kaya-
"Wharf labourers, who are paid Hall (H.K.U.), A. S. Watson and Bros., Pioneer Silk
by the Steamship Companies (I Company. Hongkong and Shanghai mally. Assumuil, D. Chellaram. W. and Co., Tabaqueria
have a lot of shares in those) are & Donnelly Hotels, Ltd., Prof. Remond, the Rev. Brewer
Whyte, H.-C. Moyle, the Rey. A. D. Stewart, Philipina,
Chan Cheuk-tan, Dunlop Rubber Co., Wang Hing, G. increased from £8 to £40 annual- Kan Tung-po, Tang Shiu-klo, San Shing-sam, Ho Falconer. Der A Wing, Luen Sing, ly. So the poor shareholders in Sai-wing, Li Shiu-kee, Yu Sai-ming, Mackintosh and Co., Bible Society, all those Companies will suffer, San Cho-kwan. Ho Wang-sang, Prof. Cheung Woo. Kwong Tai Cheung Clerical workers are let down the Faid, Mrs. Martin, E. G. Stewart, Cherry and Co. Chung Yan-po, lightest, so the shares in offices Kwong-tin, Tay Kin-lim, and banks will not be affected. Mrs. Stewart, H. L. Yang, Chiu Wong Chung-hau, Cheung Sum-woo, Chan Tay Han-wa, Kwong Kwui Co., My broker told me about the Şiu-hing, Andrew Cheung, Li Edward Dispensary, China Dispen- disastrous time that's ahead!"
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