1909-07-28 — Page 6

THE HONGKONG DAILY PRESS, WEDNESDAY, JULY 28th, 1909,

TO LET

TO LET

STORAGE.

TO LET

of MARINE

NO.

TO. 3, LYEEMOON VILLAS, Kowloon.

FOR COAL, TINDER, &C.

Tennis

COMPANY MEETING,

BRITISH NORTH BORNEO.

COMPANY NA

TO BE LET, a Portion of MARINE LOS A Pivo-Rooned House, with artis The 53rd half-yearly mosting for held on the unpunt of best quality, wild or forest rubber

for above Purpose. EXTENSIVE WATER

FRONT. DEEP WATER.

AL FOR SALE.

Portions of MARINE LOTS Nos, 31-36 o PRAYA EAST. Approximate AREA 741,000 ḤQUARE FT. 999 YEARS' LEASE,

For Particular, apply—

GEO. FENWICK & Co., LTD. Longkong, 8th June, 1906.

· 196

TO BE LET.

DESIRABLE GROUND FLOOR SHOP

Apply

ROAD, Hongkong.

T. B. L.,

Care of Daily Press" Office. Hongkong, 11th May, 1999.

TO LET.

723

TO. 2, BEACONSFIELD ARCADE,

facing the Parado Ground. PREMISES now in occupation. of MesarS,

* Gordon & Co., known as 21, Whitefield, Shauki.

wan Road:

PREMISES at SHAMEEN, CANTON, now in

· occupation of the Canton Köwbon Railway,

NEW FIVE ROOMED HOUSES in Shalley Street.

The EYRIE, No. 13, Peak. Unfurnished from 1st June, 1909.

C.M.S. PEAK BUNGALOW, furnishod, Mount Kellott, from 1st October, 1909, to 30th June, 1910.

BEACONSFIELD ARCADE, Fino Shops, Offiows and Dwelling Rooms.

DWELLING ROOMS and OFFICES in Queen's Road Central.

GODOWNS in Duddell Street. HOUSES in DELILIOS TERRACE, ROBINSON ROAD, rowly painted and color washed, exceptionally cheap rentals.'

FOR SALE-TOR CEEBT, at Peak, com- manding e Magnificent View of the Harbour and Adjacent Telunds,

Apply to

LINSTEAD & DAVIS, 3rd Floor, Alexandra Bailings. Hongkong, 23rd July, 1909.

O

TO LET.

(100

NE DETACHED ROOM, with Separate Entrance and Verandah in Princa's Building, Second Floor.

Apply to

WM. MEYERINK" & Co. Hongkong, 2nd July, 1909.

*920

TO LET.

KING'S BUILDINGS.

FFICES facing the Harbour from about Ontaber at present in occupation of Mors, JARDINE, Matheson & Co., LTD.

Apply-

THE HONGKONG LAND INVEST- MENT & AGENY CO., LD. Hongkong, lut July, 1909.

T818

TO LET.

46 TOWFORD," 12 Bonham Road, and S STEWART TERRACE, the Peak. Apply

A. B.. Caro of Daily Press " Office.

282]

TO LET.

ODOWNS Nos. 7,8 and 10, and the Top Floor of No. 3. (Tang Lap Ting's Godowns East Point),

Immediate Possession. Beat exceptionally Inoderate...

Apply to

KAM FOOK,

No. 107, Wellington Street, behind the Stag Hotel or Keeper of

No. 6, Godown on the Spot, 1797

Hongkong, 28th May, 1909.

TO LET.

70. 1 and 3, MORRISON HILL ́Also

NOFFICES at No. 2, FEDDER STERYT

Apply

MESSES. JARDINE, MATHESON

& Co., LTD. Hongkong, 31st May, 1909.

TO LET.

[807

NIVE ROOMED HOUSES at Kowloon,

FIVE

1 ROOM on First Floor of " Hotel Mansions," with use of Bath Room, suitable for Office or Living Room

NEW and COMMODIOUS SHOPS, Nathan Road, Kowloon. Immediate Possession. Cheap Rentals.

KOWLOON MARINE LOT 43, Yaumati, Area 85,200 square feet with 255 feet Sex Frontage. Especially suited for Storage of -Coal, Timber, &c.

Apply to

HUMPHREYS ESTATE & FINANCE COMPANY, LIMITED. Hongkong, 29th June, 1909.

TO LET.

1909

ODOWN, No. 5A, DUDDELL STREET.

Apply to-

THE HONGKONG LAND INVEST- MENT & AGENCY CO., LD. Hongkong, 1st July, 1909.

TO LET.

198

A HOUSE in Wong Nei Chong Bond.

A HOUSE in RIPON TERRACE.

OFFICES TO LET, No. 2, Connaught Road,

3rd Floor.

No. 3, CLIFTON GARDENS, Conduit

No. 10, DES VEUX ROAD CENTRAL,

Road

st floor.

BLUE

OFFICES in Youк BUILDING.- GODOWNS in PRAYA EAST, BUILDINGS and No. 16B, Das Your Road next to the HONGKONG HOTEL,

FLATS in MORETON TERRACE.

Apply to

THE HONGKONG LAND INVEST. MENT & AGENCY CO., LD.. Hongkong, 1st July, 1909.

TO LET

197

LODOWNS, Nos. 95, 96 and 97, Praya

BAST

Apply

CHATER & MODY,

Victoria Buildings.

Hongkong, lut February, 1909.

"Apply to

Care of "Daily Press" Office. Hongkong, 7th July, 1909.

1937

TO LET.

under the presidency of Bin CHARLEY-J. JESSEL, Bart.

The Secretary (Mr. Harington G. Forbes) having read the notice calling the meeting and the suditors' certificate,

am

than either the Malay States or Ceylon. Our territory, therefore, in Ukely to become, in go gront-limey--an-dasportant rúbbar producing. centre. Geographically, it is pituatoil in what is sometimes called the rubber belti nak (1 Jue, since, the inception of the company koms 27′ years a considerable alsa in the high-class tobacco-producing. belt. In fact, only the north of Sumatra and North Borneo have, so been able to produce the tobsono so musk sought after by manufacturers for covering cigars. But The CHAIRMAN mid-Clentlemen, I

North Borneo tobacco, while equal to Sum F QUEST FLOOR, NO. 6 ICE HOUSE glad to say that we are again in the position of

atra for wrappers, surpassos it in flavour, and ROAD, NINE ROOMS, Electric being able to recommend the payment of

can therefore also be used for filling purposes, Fittings, suitable for Offuse or Dwellinge, dividend at the rate of the previous year-Notwithstanding the risks inseparable from its Also, GODOWN. No. 9, Duddell Street.

namely, 4

pleating, the value of the tobacco exported from cent. The total receipts ou per Apply to

A. B. AVASIA,

revenue account for the your under review

our territory increased from $1,316,600 in 1898. 1. Daddell Street.

smounted, in round figures, to £152823, while to $2,772,172 last

The twe most Hongkong, lat July, 1909.

the total expenditure ineluding £4,708 for important tobacco companies in our territory TO LET.

depreciation) chargeable to revenue amounted spend at present per annum about double as to £98,925. To remind shareholders of the whole of our rubber companies. But when much money as the total spent annually by the steady progress we have been making during recent years I have been tempted to repent the these componies are producing rubber on a tgures which I gave you at our last July meet-

large scale each should then spond four or five times as inuch as it does now; and, as the bulk ing, including those for 1908. They are as follows:-

is derived indirectly from the

[912

SIX NO. 75, WYNDHAM STREET.

ROOMS. Electric Fittings, Verandalis

both sides. Full harbour view.

ROOMS in No. 2, PEDDER'S HILL.

Apply to→→ A. B. AVASIA.

1, Dudiall Street. Hongkong, 8th July, 1909.

[941

TO LET.

NO SHOP and OFFICE, etos lately 1^, WYNDHAM STREET, suitable empied by Weismann L., for Tiffin Booms.

Apply to YEE SANG FAT & Co.,

Opposite General Post Office. Hongkong, 21st June, 1909.

[871

TO LET.

TWO-STOREY EUROPEAN HOUSE A NO. 10, KENNEDY ROAD, immediately above the Peak Tramway Station, commanding a fuil View of the Harbour, Servants' Quarters behind, and a Law in Front, and Collar, suitable for a First Class Residence. Available on the lat Angust, 1909, or earlier by arrangement.

Apply to

MOK KOON YUK

Compradors Office, Mesars, Butterfield & wire's Office. Hongkong, 24th July, 1909.

[1000

TO LET.

NE LARGE OFFICE ROOM, No. 1, Babalug. 11. Floor ONE SPACIOUS GODOWN, No. 125, Wanobal Road.

Apply to

"REUTER, BRÖCKELMANN & Co. [91] Hongkong, 1st July, 1909,

TO LET.

VILLAS,

6; OBSERVATORY

Lights and Tennis Court.

ERANEE BUNGALOW," Kowloon. A Small Garden attached. Moderate Rental.

Apply to--ARRATOON V. APCAR & Co.,

14, The Vour Boad. Hongkong, 3rd March, 1909.

(399

N Kontopu. Five Roomed House; Elostris

TO LET.

No. Six Roomed House, with TO. 2, ELLIOTT CRESCENT, ROBIN- Onthouse, Commanding a Fine View of the Harbour.

Apply to-

F. X. D'ALMADA E CASTRO,

33, Queen's Road Central Hongkong, 7th July, 1909.

[936

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This successful populacromedy, unil in continental hospitals by Ricord, Rostan, Jalust, Velperuand others, surpasses everything litherto employed.

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411 ölitainable of principal THERAPION Chemists or The LeClerc MedicineCo.Haverstock Road, Hampstead, London. Price in England 29. The above Trade Mack is a fac-timite of word 'THEKAPION asit appears on Hritish Goverment Stamp affixed to every gensino package.

+

1902

Rėraune,

£

Expendi.

taco,

Surplus.

8. d.

3

£ ศ. ส. 76,442 9 4 59,041 11 6-17,400 17 10 2 66,531 10 11 52,384 16 9 14,196 14. 2-2.

your.

of our rave money in our territory, our

expenditure receipts should then be considerably augmented. The next of our industries in importance is timber. The valua of the timbar exported in 1908 was a little less than it was in 1907.

This, we understand, was owing to trade depression throughout the East. Like the tobacco, however, the timber exports have more than doubled daring the last ten years, the figures | being 8214,343 for ‍1898 and 8521,543 for the

your nader review.

MINERAL DEVELOPMENTS,

1901

1903 84,709 17 0 61,989 8 0 22720 9 02 1904 98.178 5 6 67,838 4 8 30,340 010 2 1905 113,355 9 2 73,748 17 2 39.606 12 0 3- 1906 140,262 17 10 88,227 11 0 52,036-6-10:3 1907 145,816. 4 6 92,907 10 4 52,908 14 2 4 1908 152,945 13 9 98,925 64 54,08 1.7.5. 4.

With reference to mineral developments, I

account in the balance sheet is £14223 loan that coal is now being put out of their The amount carried to the profit and loss can only say that the Cowie Harbour Coal this, £36,147 will be required to pay the 4 per mines at the rate of 100 tons day, and that Company seem to be doing good work. We

ecat dividend, leaving a balance of over when the new plant which has been ordered hae £100,000.

been placed in position, the Manager expects to be able to increase the output to about 180 tons a day from October next, and to about 300 tons a day from April next. Further, from report of the directors of the British Borneo Exploration Company, steps have been taken to prova the existance, in quantity, of the copper ore and petroleum outcropping in saveral places in our territory. Should either of these 1. Sovereign rights, under, which we are em- valuable products turn out a success, it will powered to frame and enforce laws, to fix Customs be a very good thing for me, as, apart and other tariffs, and to levy taxes for revenue from our one-fifth share of the profits in the purposes within the State of Norta-Borneo By Exploration Company, we shall benefit indirect- virtue of these rights wo derive about ninely to s very considerable extent. That Borneo tenths of our total revenue.

THE PRINCIPAL, ASSETS.

Now, gentlemen, while the foregoing figures give you an idea of the importance of the com- pany's property at its present stage of develop ment, its Imperial nature, ita potential valno, and its future remanue-earning possibilities can better be appreciated by a carefal study of our principal assets, which are as follows

2. Territorial rights over the whole of the State, the area of which is estimated at some 31,000 square miles (about 20,000,000 acres), nearly all of which is suitable for the cultivation of some tropical product, including rubber and high-class tobacco,

mated at act less than 50,000 tons.

3. The marketable timber on the land, está

4. One-fifth of the profits of the British Borneo Exploration Company, which, as you ara eware, has been granted by us the exclusive right for 50 years to search for minerals on condition that £10,000 per annum is spent co prospecting in our territory.

5. A fully equipped mètre-gange railway of over 125 miles in length.

6. About 800 miles of telograph and telephone lines.

7. Numerous harbours; also public works, such as Government offices, officers and police quarters, hospitals, juttios, &c.

பான்

the

great underground resources and that those can be made to yield handsome profits is shown by the magnificent results of the "Shell" Transport and Trading Company, which pro daced last year, I believe, some 1,204,132 tons of crude oil from its wells. In view of this and of the fact that oil is being produced by another company, at less than 40 miles from our territory. the prospects of both the Exploration Company and the Petroleum Syndicate would seem to be the raverse of discouraging. But it should not be forgotten that the "Shell" Company speut nearly £1,000,000-on-one thing and another before its directors felt certain of the success of their venture. So far, the expenditure of the Exploration Company has been less than a tenth of that sum, and I think £5,000 would cover the expenditure to date of the Petroleum Syndicate.

Apart, however, from the mineral resources of our territory-which, I believe, will one day surprise a good many people-one agricultural prospects are very encouraging-so encouraging, in fact, that we confidently anticipate further considerable developments in the near future. (Cheers.) I now bog to second the resolution.

The CHAIRMAN then pat the motion, and, having declared it carried unsciously, proposed the declaration of a dividend of 4 per cent. the year 1908, payable on and after the 20th inst.

The MANAGING DIRECTOR seconded the motion, which was carried unanimously, and the retiring directors and auditors were afterwards re-elected.

special meeting of the company was held. subsequently to consider the two resolutions referred to in the notice convening it.

The whole of these assets, the intrinsic value, of which is incalculable, stood in our books at the end of last year at £1,491,792 14a. 98. Iahall not attempt to put even an approximate valus on them; but, undoubtedly, they are worth millions more than the aum at which they stand in sur books. At only 20s. an acre the value of the land alone would be £10,000,000, but I may tell you that we are not selling any land now at less than £ per acre; and, owing to our Best of sovereign rights, any land that we sell for darelopment becomes of snore value to us sa a revenue earning factor than it was previous to its sale; so land sales not only increase the value of our assets but our revenus as well. Thir is ertainly a feature of our company of the utmost unportance, and one which has not apparently been fully realized by the investing public. During the last five years eight companies have been formed for rubbor growing in our terri- tory; and nose of the land sold to these com- The MANAGING DIRECTOR seconded the re- panies has been at a less price than £1 per acre.solations, which were carried.

With these remarks, I bog, to mora, "That A cordial vote of thanks to the chairman and the directors' report and statement of accounts, directors having been unanimously passed, sppended thereto, be received and adopted." Mr. Cowie, who will now address you will second that. I may say that it is owing to the active and progressive policy which Mr, owie, has pursued during his management of the com- pany that we stand in the position we are in to-day-not only with respect to our dividend, but also with respect to the chances of very mach increasing that dividend in the futuro.! (Cheers,)

The Managing Director (Mr. William C. COWIE)-I must first thank the chairman for his complimentary remarks. I have worked fairly hard to bring the company up to its pre- sent state, but had it not been for the chairman's support I should not have been able to do an much as I have done. Alinding to British

North Borneo is a field for the cultivation of rubber, Mr. Covie mentioned the list of the rubber companies working in the territory, and gato a few particulars as to their capital, & Continuing, he said-With reference to the guaranteed dividenda, beg again to explain they are all practically covered by the cash we receive from the various companies for their concessions, and that all payments we make in respect of them have to be refunded to us out of thair profits when they exceed 6 per cent. in

that

any year

The CHAIRMAN, in proposing the resolution», stated that there were practically only two things" required by them-first, that the board should be able to ismas share warrants to bearer, and, secondly, that their powers of borrowing should be increased according to the resolution.

The CHAIRMAN, in reply, mid he wished that the resolution had included the staff of the com. pany boils at home and abroad, who were very much responsible for the successful results which had been achieved during the past year. (Cheers) He added that the success of the company was very much a question of what money was put into the country to develop it.

The proceedings then terminstet.

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a extraordinary article by Judge Schwarze, a prominent member of the Garmia Reichstag sud of the Prassian House of Representatives, is printed in Der Tag, under the heading. Europe for Europeans" in which, says the Daily Telegraph New York correspondent, he urges England and Germany to abandon mutual suspicions, trade competition, and rivalries, and league themselves without further AS SUPPLIED TO THE HOUSE OF lolay against America. The article was cabled LOBDS AND HOUSE OF COMMONS. to New York, and was reproduced in some of the leading newspapers, but, for the most part, it excites only amused comment.

THE RUBBER AND THE TOBACCO COMPANIES. It may be of some advantage for investors to learn that most of our rubber companies' shares It is true, as the learned judge suggests in stand at present on the market at only a little Der Tay, that America is the commercial com- over par, while the shares of several Malay petiter of England and Germany alike, and is States companies command over

keen in getting as much from each as possible. 10 per cent. premium. In vior of the fact that, only five It is also true that a war between Eng years ago,

ago, the Linggi and Valambross shares land and Germany would probably leave were changing hands at about par. I confidently existing circumstances, an economic allianes atly the United States invincible in trade. But in look forward to seeing the shares of our rubber

haring a similar rise during the of all Europe companies

to enforce its own Monroe

next few years. Probably this was what Sir doctrine of Europe for the Europeans " is highly Augustas Fita Goorge, the chairman of the improbable, to put it mildly. And for tre Langkon Company, had in his mind when he reasons. These, according to the New York stated at a recent meeting of his shareholders Tine, are first, the export trade from that he would rather bay the shares of North Earons to the States, and the other is the Borneo rubber companies at anything like their import trade from the States to Europe. The present price than those of the Malay Stats former is very important; the lattor practically companies at the enormous premium at which indispensable." many of them stand to-day on the Stock Ex- change. Notwithstanding the fact that such premiani is, at present, in most cases warranted, I feel sure that our friend is right, as in time our rabber shares should reach the level of those of the Malay States."

present, there are only the eight companies

The sage journal says America, on the other hand, with its great ares, variol resources, and large population of superior efficiency, could conceivably exist very comfortably without Europo, more particularly as alio is not importing her foodstuffs like England and Germany.

Other America vrities realise that with the

[934

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enumerated by me operating in our territory success of the movement to develop and really SCOTCH WHISKY.

bat as we have room for many hundreds more, consolidate the resources of the British Empire, we trust, soon to be able to add to our list, and England will not always be obliged to look to

by so doing give investors the opportunity of the United States for foodstuffe, and, to toll tho acquiring shares af par North Bomes, in the truth, the average American marvels she has opinion of those best qualified to judge, is even not waked up and "waste herówą arrangements" more suitable for the cultivation of Para rubber before now.

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