Enclosure 3.
HONGKONG TRAMWAYS LIMITED.
(INCORPORATED IN HONG KONG)
DIRECTORS.
Mr. A. B. STEWART (Chairman).
Hon Mr. C. G. S. MACKIE
Mr. FELIX A. JOSEPH
Mr. A. H. COMPTON
Mr. CHOA PO SIEN
Hou Sir SHOU-SON CHOW, Kt.
GENERAL MANAGER.
L. C. F. BELLAMY, M.C., A.M.I.E.E., M.Inst.T.
SECRETARY.
W. F. SIMMONS, F.C.I.S.
REPORT OF THE DIRECTORS.
The Directors submit herewith the audited Statement of Accounts for the year ended 31st December, 1934.
The profit for the year amounts to......
and together with amount brought forward from last Account
Makes a balance of
From which appropriations have been made, as follows:-
.$ 945,529.26
146,691.58
$1,092,220.84
An Interim Dividend of 50 cents per share paid 23rd August, 1934. Written-off Goodwill and Construction Expenses... Transfer to General Reserve Account ·
..$325,000.00
68,000.00 100,000.00
$ 493,000.00
A Final Dividend for the year 1934 of 75 cents per share is
now recommended by the Directors.......
487,500.00
$ 980,500.00
Leaving to be carried forward......
$ 111,720.84
The Directors retiring by rotation under the provisions of Article No. 95 are Mr. F. A. Joseph and Hon: Sir Shou-son Chow who, being eligible, stand for re-election.
The Accounts submitted have been audited by Messrs. Lowe, Bingham and Matthews, who, as Auditors of the Company, offer themselves for re-appointment.
Hong Kong, 6th February, 1935.
A. B. STEWART,
Chairman.
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