1913-10-27 — Page 5

ather Falmert

The Loine Merchany of the last

WAPIER

JOHNSTONE'S

“SQUARE BOTTLE"

WHISKY.

UNVARIED FOR OVER 150 YEARS.

THE SAME TO-DAY AS IN 1745.

BEWARE OF LIMITATIONS, SOLE AGENTS IN HONGKONG LANE CRAWFORD & CO. and from ALL WINE MERCHANTS.

WHITELEYS

THE

LARGEST

BRITISH STORE IN THE WORLD

Illustrated Gonoral Catalogue (1.250 Pages) Mailed Free

WORLD

WHITELEYS

LONDON W

MY SUCIAL APPOINTMENT

SO IN THE "WING; YOL, WHITELEY, LTD.

BRAND

RENOWNED

STUHR.

STUBR'S

GENUINE CAVIARE, ANGROVIES IN BRINE

(Solted Sordels). la Thai and Glauca $igh-Class Provision Dealers,

C. F. STUHR & CO, HAMBURG

Baglish Export Agent: W. LOVAGROVE, LONDON, E.C.

SANTAL

MID

These tiny Capsules

174

- superior to Copaiba, Cubebs, and Injec

CURE the same di- tions seases as these drugs in FORTY-EIGHT HOURS

without inconvenience.

(HUDY) Zach Capsule beurs the name. Paris, 8, rue Vivienne Sold by all Chemista.

208

123-1

COMPANY MEETING.

HONGKONG HOTEL COMPANY,

LIMITED.

THE HONGKONG DAILY PRESS, MONDAY, OCTOBER 27тn, 1913.

An extraordinary general mecting of the shareholders in the Hongkong Hotel Company, Limited, was held on Saturday at the Hotel for the purpose of consider. ing the following resolution:

That the following new Articlo be insorted in the Company's Articles of Association after Article 10 thereof

10a. The Company shall pay dividend, in respect of any existing or now shares of the Company, in proportion to the amount paid up on each share where a larger amount is, paid up on some shares than on others.

Mr. J. S. Harston presided, and thore were also present:-Dr. J. W. Noble, Mr. JW. C. Bonner and Mr. F. Maitland (directors), the Hon. Mr. David Landale, Messrs. L. Gibbs, E. J. Grist, W. Ford F. T. Leo, Chan Tu Shun, M. J. Vessoona, M, Sternberg, J. M. Noronha, M. D. Silas, G. W. Avanell, J. Walker,

·U.

M. Manak, G. T. Lloyd, Gallu

B.

W. A. Weill, L. Tobias, Basto, Lai Chan, W. E. Clarke, F. Lorria, S. H. Michael, Bydney Michael, Wong, Liu Tai, J. L. S. Alvos, Loung Kam Ming, Fing Tat Hang, C. D. Silns, G. Lammert, She Po Sham, F. B. L. Bowley, C. Skott, B. Coetz, Ivor Gourgey,

Mr. Dr. Stedman with Taggart Acting Secretary.

The Secretary having read the notice convening the maceting,

Tho CHAIRMAN said At the extra ordinary general meeting of this Com- pany which was held on the 4th inst.. I refrained from putting to the vote the resolution set out in the notice convening such meeting. My reason for so reframing was that I was under the impression that the Company's Board of Directors--at whose instance the meeting in question was convened-desired the resolution to be passed as amended at the instanes of the Board at such meeting, and as the resolution was that of the Board and not of any shareholtler outside the Board. I merely put to the vote the resolution as amended and not as originally proposed to be passed. I gather that in this respect I was acting under a misappre hension, and that the Board consider that when the resolution as amended was defeated, the resolution as not out in the notice convening the meeting should have As the resolution been put to the vote. was not so put to the vote, this meeting has been convened for the purpose of putting the same to the vote the resolu tion set out in the notice convening this meeing being in the same terms as that set out in the notice convering the extraordinary general meeting held on the 4th inst. If nuy member desires to address the meeting I shall be obliged if be wil kindly do so before I formally propose the resolution.

WM.

POWELL,

LTD.

TELEPHONE 346,.

SPECIALISTS IN

GENTLEMEN'S

DAY AND EVENING WEAR.

THE NEWEST IN DRESS SUITINGS.

AND LIGHT OPERA COATS.

ALSO-

DRESS SHIRTS, COLLARS. TIES, SOCKS,

SHOES AND HATS.

DES YOUX ROAD AND QUEEN'S ROAD.

INDO-CHINA PORTLAND CEMENT COMPANY, LTD,

FAMOUS

DRAGON

BRAND

CEMENT

PORTLAND

GYIKA

CEMEN

CEMENT

HAIPHON

ALWAYS IN STOCK

HIGH

QUALITY

VICTOR-VICTROLA

THE GREAT HOME ENTERTAINERK. There's nothing you could wish for in the way of Music and Entertainment that isn't at your commund with the VICTOR VICTROLA in your Home

PRICES FROM $35 TO

RECITALS DAILY.

$345.

S. MOUTRIE & CO., LTD.

THE

Capital

EXCLUSIVE DISTRIBUTERS.

BANKS

HE BANK OF TAIWAN, LIMITED (INCORPORATED BY SPECIAL IMPERIAL CHARTER).

Capital Subscribed (paid up)..Yen 6,250,00 Reserve. Fund

HEAD OFFICE: TAIPEN, FORMONA.

BUILDING Canton

BANKS

Y

Yen 10,000,00

PAID UP CAPITAL:

Yon 2,820,00

BANS

THE

OKOHAMA SPECIE

LIMITED.

AUTHORISED CAPITAL Yen 48,000,000 Yen 30,000,000 RESERVE FUN Ton 13,650,000

HEAD OFFICE-YOKOHAMA Branches and Agencies at

Liao-Yang Ryojun.

Antung-Hsin

(Port Arthur)

Ban Francisco

Los Angeles Shanghal

Tengtien(Mukden)Nagasaki Tiontair

Newchwang Tokys.

Now York

Osaka

BRANCHES AND AGENCIES:

Amoy Anping

Foochow Koolang

Swatow

Tainan

Calcutta

Kobo

Taisei

Bombay

Nagasaki

Tokyo

Changchun

Osaka

Yokohama

Dairen (Dalny

Shanghai

Налком

CEMENT

Harbin

Apply to 1. SOFFIETTI & Co., 14, Des Vent Foad Central, 1st Floor. Tolephone 229.

A CHOICE SELECTION:

Mr. MAITLANDI beg to second the FRY'S KING GEORGE V.

resolution to make it in order.

Mr. GRIST-Don't you propose that

The CHAIRMAN I will formally propose

it if you wish, gentlemen. Does any

shareholder desire to say anything on the resolution de

f

AND

T1019-1

QUEEN MARY CHOCOLATES.

Mr Gaisr-We have before us to-day CADBURY'S IMPERIAL, CHOCOLATES. precisely the samNG resolution that we had before us at the meeting held on the 4th ivat

At that meeting an amendment was proposed, but only with a view to making the resolution retrospective. The shareholders rejected the measure and expressed an opinion adverse to it,

A SPECIALITY:

FRESH HOME-MADE CHOCOLATES.

bus in spite of thin the Directors have WEISMANN, LIMITED.

to

HONGKONG OFFICE,

8, DES VEUX ROAD.

Current Acount

Interest allowed on Deposits received on torms which may b had on application, de

K. TSUDZURABARA, Maurger. Hongkong, let May, 1918.

IN

EDERLANDSCH IND1803

HANDELSBANK. (NETURREANDI INDIA COMMERCIAL BANK.)

ESTABLISHED 1889.

Authorised Capital Fl: 30,000,000 (22,800,000 Paid-up Capital. Fl. 17,407,000 (£1,450,538 Réserve Fund. F1, 6,618,000 (£643,106

HEAN OFFICE: AMSTERDAM. HEAD AGENCY: BATAVIA:

LONDON BANKERS: THE WILLIAMS: DEACONS BANK.) SWISS BANKVEREIN.

The Bank transacta every description Banking and Exchange business, feceit money on Current Account and on Fit on application.

G. VERMEY, Manager, Deposit at rates which may be ascertaine

No. 3, Des Vox Road Central. Hongkong, 3rd October, 1813.

SHANGHA

$15,000,000

BANKING CORPORATION;

PAID-UP CAFTTAL REDERVE FUNDS:~

STEKLA XO

£1,600,000 at 2-$15,000,000. SILVER

$17,450,000

ChonT OF DIRECTORA.

€32,450,00

8. H. DOD WELL, Esq.-Chairman. Hon. Mr. D. LANDALE-Deputy Chairman J. A. Plummer, Esq. W. L. Patteadon, Eng Friesiand, Esq.

H. A. Siebs, Esq

CHIEF MANAGER: Hongkong-N. J. STAND..

·MANAGER:" Shanghai-A. G. STEPHEN

thought fit to call the present meeting and again bring the matter forward. With regard to the merits or demerits of the fesolution, I do not think I can usefully add anything to what I said at Even on the law side there must be a should now be reduced by the cancellation the last meeting, a copy of which I will differences of opinion, for your Directors of this $200,000 outstanding, would the read: "The objects for which the present

were first advised that they were in order holders of those debentures lay awake meeting has been called have been fully is recommending the dividend on the nights because of it? I wonder! The explained to you, and shortly are that the same lines as it had been paid since the security on which the debenture, holders dividend pro reta in proportion to the new issue of capital was made, and now rely, if they are practical business men, constitution of the Company does not they have been advised differently. Mr. is the value of the Company's property. allow it to pay a larger or different Grist, speaking on behalf of a certain not the capital outstanding on a few dividend in respect of the fully-paid body of shareholders at the meeting on partly paid shares, but on substantial HONGKONG AND shares than the partly-paid shares, 4th October and again to-day, argued assets, real estate and buildings, valued conservative basis at although it has been done for years past. that the Company had been trading on a few months ago by Messrs. Falrner & It is now sought to alter the constitution the unpaid call; I can assure you that Turner on a of the Company to enable or rather, this was not so when the auditors called $2,314,215. You may add to this, if you make it imperative apon it to pay a attention to the payment of dividend, nor will, the earning power of the Hotel as dividend pro rata in proportion to the is it so new, for I look on the debentures & guing concern and the goodwill of the Those are the things which give amounts paid up on the shares, entirely of this Company almost, if not quite, as business furniture, machinery, and forgetting or losing sight of the fact that good a security as Bank of England plant.

Grist further stated as credit and on this we trade. Will Mr. the Company is trading, at any rate in stock Mr. part upon the credit of its called that it would be fairer to call up the Grist, on behalf of his clients, agree to the RESERVE LISHLITY OF PROP'rore $15,000,00

cancellation of this outstanding capital! the bability of the unpaid capital, so it is clear in a nutshell If he would like to have a practical test apital that is holders of the partly-paid shares for the that a certain body of shareholders who unpaid amounts. It is obviously unfair hold a large proportion of the partially made as to the value of this unpaid call

E. Geetz, Esq. that they (the new shareholders) should paid up shares are taking an unfair as credit feature in the Company's receive no compensation for this liability advantage of shall I say, a flaw or business, it might be taken into consid- or the benefit of the credit so obtained omission in the Articles of Association, eration and the Court applied to for the 0. S. Gubbay, Esq. by the Company, and on that ground Ito force the majority of your Directors power to reduce the capital by $200,000, P. H. Holyoak, Egy. Hon. Mr. E. Shellie.

G. R. Laureuz, Esq. I am not advocating oppose the passing of the resolution. to make all shares fully-paid up, when the amount outstandios Do not mis- There is also another, and perhaps in their opinion as business men they do understand mo stronger, reason why this revolution pot consider it in the interests of the share that this be done, but if Mr. Grist's should not be passed, and that is--when holders as whole, or in the interests of clients consider it a hardship to carry Certainly the this liability or that they should be paid the new shares were issued the Company the Company, folders us by the of them agreed to sell to absentee shareholders should have the compensation for the credit it confers, Until the matter will, at his request, he seriously new shareholders eight-twentieths of the situation. fully but before them. concorn, there being nothing in the the resolution before you is passed and considered, not otherwise he had been a Articles of Association allowing the confirmed your Directors cannot very well Mr. Grist's Company to differentiate between the old recommend a dividend at all, and the shareholder at the time he made his and new shareholders in respect of divi- delay is not fair to shareholders (particu. address for eight days only, so that he LONDON COUNTY AND WESTMINSTER

"There is deads on otherwise. An attempt is now larly those residing at Home) who may be himself could not have suffered greatly. being made to deprive the new share counting on their dividends for current Mr Grist says further: holders of their rights to receive this expenses, I submit in all equity that another and perhaps stronger reason why eight-twentieths which they have pur the question before the meeting at present this resolution should not be passed; and chased. I do not think it competent to should be treated as it is, it beint that is, that the Company agreed to sell per cent. Der annum on the Daily Balance the larger section of shareholders to pass separate matter from the one of calling to the new shareholders eight-twentieths the present resolution, which would have up the unpaid capital, and I ask your of the concern, and there is nothing in the effect of depriving a smaller section support to enable the dividend to be paid the Articles allowing the Company to It is certain that no differentiate between the old and the new of shareholders of their rights, to the as heretofore.. KLEY TO TAKE THERAPION AVE AND

The Company did not sell advantage of the larger section. An easy shareholder expected anything but a pro shareholders in respect of dividends ur solution of the difficulty would be to call rata dividend when the new issue was otherwise."

The Company sold up the unpaid capital in respect of the ande, or the point would have been eight-twentieths of the concern to the

new shareholders. new shares and make all the chares fully raised long ago, (Applause.) paid. This would be fair on both classes Dr. NOBLE-At the previous meeting, new shares to old shareholders-- 1 very Grist said different matter and many of those old of shareholders, and-it would then be no and also to-day, Mr.

resolu shareholders have kept these new shares,HE CHARTERED BANK OF INDIA

AUSTRALIA AND CHINA. Lhis longer necessary to alter the constitution "In bringing forward

If all the old share- of the Company.

INCORFORATED BY ROYAL CHARFER, 1859 It would place all tion we have entirely forgotten and have them to day. I am one of those

HEAD OFFICE LONDEN. shareholders on an equal footing and fost sight of the fact that the Company who has done so, they would all rank alike in respect of is trading at any rate in part, en the holders had kept the new shares the dividends and in all other respects."

Paƒd-up CapitĀL Sou credit of its oncalled capital? This, I present question would not arise, as the Mr. F. MAITLAND-I am somewhat think, will not bear examination. What division was pro rata and equitable. The

REZERVE FOND MANAGE Date surprised to find that there is opposition trading is done on the strength of this trouble has arisen because some of the

BESHAVE LIBRITY OF PROPRIE,

TOUS to the passing of the resolution before you. uncalled capital 1 We have two classes old shareholders have been tempted by I do not suppose that a single shareholder of creditors. The Bank, to whom we the profit offered and sold their new issue expected that the dividend would be paid one 850,416, and the debenture holders, The new shares have been sold at 891. per otherwise than pro rifa, nor that the who have contributed $750,000 for us to share, a profit of 264 per cent. Not bad. How many who have ch? It shows the cagerness of the public fully-paid up shares would not receive trade upon. twice as much as the partially-paid up purchased these icbentures had know to uphold the credit of the Company shares until the point was raised by the ledge of the fact that there was uncalled on which Mr. Grist tells us we have been auditors, and even then a very large capital outstanding? I venture to state trading, Very kind indeed! Specula proportion must have expressed surprise that if the purchasers hail this knowledge tion has been rife, and to make it profit that there was anything in the point, not one of them was influenced there able to those who have indulged therein,

(Continued on Tage 6.) which in my opinion as recards the What does this amount Ex? 8800,000 only. Do effort will be spared to kill this Hongkong Hotel Company is against This is not very good security for equity, although it may be the law. $760,0001 If the capital of the Company

THE NEW FRENCH REMEDY. THERAPION No. 1

CURES DASGARGES, KITIZE BEN, WITUIET, INIFLTICE

THERAPION No. 2

CUKES FLOOD POISON, HAD LEB, AKIN KREPTIONS

THERAPION No. 3.

GURES OFLOXIC TRAKTORS, DRAVEN, DKT VISER, &c. SOLD BY LEADING CRESTS, PRIDE IN XXGLAND, 2/9 KEND STAL ADDRESS ENTELOPE FOR FREE E LE CLEAo Mrb, Co. HAVES R Hamery sau, Lordy, TRY NEW DLAGER (TAŞINLIES) FORM OF

A CURE

FOR YOU

LASTIKU CURE.. NEH THAT TRADO MATED WORD TERRAPION IB ON TET, DOFT. STAMP ATBIKED TO ALL GENUINE PACKETS. INSIST ON HAVING THERAPION,

[175

HONGKONG METEOROLOGICAL

EEGISTER

Hongkong Observatory, October 26th

Presious On Date On

Day

af

at

st 2 p.m. 6 am. 2 p.m.

Barometer

FC.09

30.13

30.09

Temperature Humidity

76

73

74

56

71

58

Wind Direction

SE

ENE

East

Farto

3

4

3

Weather...

b

b

-b

Rain

0.03

Highest open sir Temperaturu on 24th...77. Lowest open air Temperature on 24th...71

LONDON BANKERS:

BANE, LIMITED.

HOFGEONG-INTEREST ALLOWED. On Currant Account at the rate of Tw ON TIED DEPOSITS.

For 8 months, 2 per cent per Annuz For 6 months, Spor cent, per Annum For 12 months, per cont per Annum

N. J. STABD

Chief Manager.. [19 Hongkong, 13th October, 1913.

£1,200,000 21,700,000

£1,200,000

Genero FOREIGN EXCHANGE and

opened ACCOUNTS CURRENT Banking busines transacted. IXED DEPOSITS received for 1 your w

A. 9. HEWETT, shorter periods st rates which will be quotes

Acting Manager, on application.

Hongkong, 14th April, 1913.

•

Honolulu

Kobe

London

Lyons

Tiehling

Paking

INTEREST ALLOWED ON CURRENT ACCOUNTS. Deposits received for fixed periods at rate

to be obtained on application.

EISHI ONO, Manager,

Hongkong, 30th September, 1918.

INTERNATIONAL

TN

[464

BANKING

CORPORATION. HEAD OFFICE: 60, Wall Street, New York. LONDON OFFICE: 6, Bishopsgate, B.C.

BRANCHES :

Bombay

Kobe

Calcutta

Manila

Canton

Mexico

Cobu

Panema

Toking

San Francisco

Shanghai

Colop

Empire

Bongkong

Hankow

Yokohama

CAPITAL AND SURPLUS Gold $7,200,000 equal £1,480,000 EVERY DESCRIPTION OF BANKING

BUSINESS transacted. CURRENT ACCOUNTS opened on the usual

terms.

DEPOSITS RECEIVED, fixed for one year

st. 4 per cent. per annum or for shorter periods, at rates which may be ascertained on application: BILLS NEGOTIATED and COLLECTED.

ind TELEGRAPHIC MAIL

REMIT TANCES made.

LETTERS OF CREDIT and DRAFTS- 'granted on all the principal cities

in the World. THE BANK'S CIRCULAR LETTERS OJ CREDIT are available all over the World.

COMMERCIAL LETTERS OF CREDIT

issued.

PURCHASE and SALE of Stocks and

Shares effected. TRAVELLERS CHECKS said and isshed

GEORGE HOGG, Manager

9, Queen's Road;

Fongkong, Ast October, 1913.

(1230

MERCANTILE HANK

INDIA, LIMITED.

Authorised Capital Subscribed

£1,500,000

1,125,000

Paid-up Reserve Fund”

662,500 475,000

BANKELS

and

BANK ENGLAND,

LONDON JOINT STOCK BANE, LIMITED. INTEREST allowed on Current Accon ec 2 per coat. per annum on Daily Balans. and on Fixed Deposits at rates which may be ascertained on application.

A. R. LINTON,

Manager.

1879 Hongkong, 14th July 1918.

HONGKONG SAVINGS BANK.

HE Buaízes of the shore Bauk is com ducted by the HONGKONG AND SHANGHAI BANKING CORPORATION. Rules may be obtained on application,

the INTEREST on deposits is allowed on Minimum Monthly Balances at 31 per cent Fer inaum,

Depositore may transfer at their optise balances of $100 or more to the HONGKONA AND SHANGHAI BANK to be placed on FIXED DEPOSIT at 4 per cent. per annum,

For the HoxOKONG AND SHANGWA

BANKING CORPORATION,"

N. J. STABB,

Chief Manager. Hongkong 1st July, 1911,