1917-01-30 — Page 3

COMPANY MEETINGS.

THE WEST POINT BUILDING

COMPANY, LIMITED.

The 9th ordinary meeting of share- holders in the above was held at the offices of Messrs Jardine, Matheson & Co., Ltd, yesterday. Sir Paul Chater,

THE HONGKONG

THE HONGKONG LAND INVEST

MENT AND AGENCY CO., LTD.

The 29th urdinary meeting of shure- lolders in the shove was held at the office of Mesara Jardine, Mathieson & Co., Ltd., yesterday. The Hon Mr. C. L. Anton presided, and those als

present were:-Bir Paul Chitor,

G.M.G., presided, and those also present CMG., Sir Robert Ho Tung, Hon Mr were-Hon. Mr. C. E. Anton, Messrs. Shellim, Mr. G. 5. Gubbay, and Mr.

AO. Lang, and C. 8. Gubbay (Dirce

DAILY PRESS.

CHINESE ENGINEERING AND G

MINING

INCREASED PROFITS

TUESDAY, JANUARY 30, 1917

COMPANY REPORT.

UNION WATERBOAT CO., LTD.

The report of the general managers The fourth annual ordinary general (Messrs. Dodwell & Co., Ltd.), for pre- seutation to the shareholders at the annual meeting on meeting of the Chinesa Engineering and twelfth ordinary

Saturday next, states that the net profits Mining Company Ltd., was hallat for the year ended 31st December, 1918, Winchester House E.Con December after allowing for Consulting Committer 19th, Mr. W. F. Turner (chairman of ditar's foes, and including $9,258.73 brought forward from last account, 12ubunt to 859,375.00

the company) presiding.

:→→ in

HP White (Directors), with Mesarehe Chairman said he stare

Lo Cheung Shui, with Mr. E. Shelton Hooper (Secretary),

The general managors recommacad the

INTIMATIONS

LANE,

CRAWFORD & Co.

payment of a dividend of 124 per cent. TENNIS

315,000 from the value of the waterboats, 500 from the value of pipes and staging, ward a balance of

for- 88,221.31 to the new account

The Northcote, and B. D. Fi Chapman, H. J. Gedge, A. A Fyfe, and profits, thanks to the improved rate of and 81,000 off investments, and carry

A. Shelton Hooper

having read the notice

tors), and Greenhill, HW Looker, AH, W Looker, A. B. Stewart, E practically the same as last years A Fyfe, M S

profits · were slightly less, wailit, dur Baith, with

exchange, are considerably more. The (Secretary)

ales of the Administration for the year The Secreary read the notice conven with 2,692,000 tons for the preceding amounted to 2,667,000 tons, as compared

ing the mcoting, after, which

The divisible profit of the Ad ministration was slightly lower by tion of profit coming to this compsey about £110,000, consequently the propor-

for the year in respect of our to we lower by about £6,000. The average mittances from China comes out at about 15, 10gd per dollar, That, of

convening the meeting,

The CHAIRMAN said Gentlemen,The report and statement of accounts, to gether with auditor's report, having been in your possession for some days, II propose, with your permission, to take

them as read. The net proft for the past year has been $87,140.00, as against 853,931.32 for 1815, brought about by the increased rental received under the new lease from April 1st of $2,100 a month, but as against this the cost of repairs: has been $0,668,96, ur about $5,000 more than that of the previous year, as tho property has been put into thorough repair on the new leases taking it over. We are now enabled to pay a final dividend of $3.25 per share, boing $1 more than 1015, and carry forward $2,688.87. As we shall not have to incur a large expense for repairs this coming year, and shall derive the benefit of the increased rental under the new lease for the whole year, we may look with con- fidence to paying a further increased dividend for 1917. I now beg to propose that the accounts, as presented, he adopted and passed, and after this has been duly esconded I shall be pleased to answer any question abareholders may wish to ask.

The CHAIRMAN said-Gentlemen, With your permission, the report and accounts having been in your hands for some days, propose to take them as read. The net profits for the year amount to $361,094,33

RACKETS

INCLUDING

Bonnar and T. Kusumoto have resigned

Since the last meeting Messrs JW o "GOLD MEDAL" “STADIUM,” THE “IZ," from the Consulting Committee and Messrs A. O. Lang and B. Mori have "LAMBERT-CHAMBERS," THE "DOHERTY, joined the Committee.

THE WAR LOANS INVEST-

MENT TRUST OF MALAYA.

THE RECORD UP TO DATE.

At the statutory general meeting ef the War Loans Investment Trust of aslay the Hon. Mr. A. KE Hamp shire, who presided, announced that the total subscriptions up to the 17th inst. amounted to $883,580. The details were

No. of

course is the rate which we adopt in that whilst our proportion of the Kailan making up our accounts. The resulti in Mining Administration a profite is about fear, comes to Lac year, the figure which comes to the credit of our profit and loss account is £30,000 more, viz.; £196,183. This is the more satisfactory, inasmuch as experience as follows tells us that the rate for the past year may be regarded for practical purposes. is about the normal one, and therefore Perak tinuance, but, of course, there can be no Negri Sembilan We may reasonably hope for ita con- Selangor certainty in buch a matter. To the Pahang the interest in Cina £8,961, making úgure I have just given is to be added Other countries

£105,140 Interest in Europe fe £10,643, our agency fee is £4,000, and with some small trifles the total of the credit side

against 834,311:11 for 1916. The rent account shows an increase of 315.387,07, and one property has been sold at a profit of $10,566,60, and there has been a decrease in charges of $3,010.18, against which there is an în crease in interest paid out of 80.817.12. The amount of our investments in pro porty shows an increase of $100,071.00, brought about principally by the develop mont of the old French Convent Site which will become revenue earning in the course of the year. The large influx of Chinese from Canton during last summer enabled us for a time to fill up all of Chinese

the profit and loss account is brought up to £209,840. On the other side you! somewhat less than the year before. Then have London expenses, £3,500, being

you will find a note to the effect that the Brussels expenses since May 31st, 1918 date of the accounts), have not been (that is for 13 months preceding the certained, as no accounts have bech te ceived since that date. When the amount is known it will be charged against the balance of profit which we propose to to 1, care to the balance-slicet is £201,725,

gainet £160,000 the year before. This excess-profits duty, which we have to time, however, we become liable for settle with the Revenue Authorities. year'e debentures interest, which become The liabilities, including the half payable on July 1st, amount to £219,685,

tenements, but on affairs becoming more settled a great many of our tenants returned to China. We have, however, very few empty expended in repairs has again been very tenements at the moment. The amount heavy, accessitated by the thorough over hauling of many properties which have been leased for a term of years. The Praya Las, Reclamation scheme is still in abeyance, and likely to remain so until the end of the war, and we are interested in a large proportion of such Mr. CHAPZIAN secunded, and this was reclamation which we believe will turn unanimously agreed to,

out satisfactorily. The amount of capital invested in shares of kindred companies remains practically the same. I now beg 10 propos the adoption of the report.

On the proposition of Mr. Lo CHEUNG AHUI, seconded by Mr. LOOKER, the appointments of Hon. Mr. C. E. Antention was unanimously carried. as against £130,333 in the preceding

and Mr. A. O, Lung as directors were

confirmed.

Mr. BETH proposed, nad Mr. FXFE seconded, the re-election of Hon. Mr. C. E Anton and Mr CS. Gubbay as directors, and thig was carried

On the proposition of Mr. Norricors, seconded hy Mr. GREENHILL, Mr. H Percy Smith was re-appointed auditor at remuneration of $50,

#

THE HONGKONG CENTRAL ESTATE, LTD.

The third ordinary meeting of share- holders in the above was held at the offices of Messrs. Jardine, Matheson & Co., Ltd, yesterday, Sir Paul Chater,

C.MG., presided, and those also present were Hon. Mr. E. Shellim and Hor.

Mr. C. E. Anton (Directors), Sir Robert

Mr Gepas seconded, and the proposi The Hon, Mr. E. Shellim and Mr. C. B. Gubbay wore re-elected directors, on the proposition of Mr. LOOKER, see onded by Mr. CHAPMAN

Subscribers. Amount, $200;610)

ETC.

TENNIS POSTS AND NETS.

TENNIS BALLS

FOR HARD AND GRASS COURTS.

135

103

453,200

109,590

46.

83,300

鹊

60.880

428

$883,580

THE

OLYMPIC MARKER

The investments were as follows:-- Exchequer Bands $334,185.73 Straits War Loans 538,000.00 Working expenses from the incorpora and the cash balance was 312,140.63

tion of the Trust to the end of Decom- bor amounted to $3,189,56, and it was for balance of the current financial year estimated that the monthly expenditure would be $300 per mensem $3,199.55 mentioned above, $2,674,32 were expended on advertising, printing and gundry disbursements in connection with incorporation.

Of the

The estimated profit, that is to say, gains in exchange on investments and proximately to $6,700, which already profit in interest caroed, amounted ap- covered the whole of the preliminary penses to the end of the current year, expenditure and estimated working ex- C., 1917 CODE YOU

Committees in Singapore, Penang, and balance sheet. You will notice that of other centres are in process of forma this increase only about £7,000 is on dution, and it is hoped that with their co- of share and debenture coupons and will steadily increase. What we parti- standing accounts, the rest is in respect operation the number of shareholders On the proposition of Mr. STEWART explanation being, of course, the lament Chairman, though we are glad to debentures drawn for redemption, the cularly want to encourage," added the secunded by Mr. FYFE, Messrs. H Percy Smith and C. Bernard Brown were reable one that the whole of Belgium and receive large amounts, is the small share- appointed auditors at a remuneration a large area of North-Eastern France, holder, whose means will not permit him 3500 ench: 20muneration where our debentures and shares are to subscribe more than $10 or $20

largely held, is still in the pospassion monthly of the Germans. On the other side of the account you will see that we have in cash, Treasury bills, War Loan and Exchequer · bonds 'a total of £366,083 against £238,418 the year before.

This was all the businese, and the

CHAIRMAN announced that cividend war-

rants would be ready next day, and could be had on application. THE HONGKONG LAND RECLAMA

TION CO., LTD

The 16th meeting of shareholders in Jadise, Matheson & Co., Ltd., yes the above was held at the office of Messrs.

terday. Hon. Mr. C. E. Anton presided, and those also present were-Bir Paul Chater, C.M.G., the Hon. Mr, E. Shellim Mr. O. Gubbay and Sir Robert Ho Tang (Directors), and Messrs,

total

According to the latest reports, there are over 14,000 war savings societies in the United Kingdom

A BONG IN THE NIGHT. (With many apologies to Rudyard Kipling.)

[BY TREVOR CHANNER.]

Now as to the position of the profit and loss account and the dividend. The balance brought forward from last year was 599,159, the year's profit, subject as

of £300,834 We paid an interim divic-f I have already said, to excess profite duty is £201,725, which makes sud of 5 per cent. (£50,000) on May 18th, If you can meet the trials of your country 1016, and we have paid, or provided for By nobly stretching out a holping hand, iccome tax, which leaves a balance of If you can face the awful din of battle. £235,378. We propose to pay a balanco And drop out gladly for your King and dividend of 5 per cent, making 10 par. If you can squish the hopes you had of which will leave £175,376 to be carried winning

cent, the year free of income tax,

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B of

Ho Tung and Messra M, B Northcote, Cheung Shui, A. A. Fyfe, L N. forward, subject to excess profits dut and kill the self that eats the souls o

mon,

H. W. Booker, C. 8. Gubbay, G. Hastin Leefe, Ho Fock, A, Shelton Hooper, and The dividend will be payable on 20th Hyou can trust in Childlike faith the and H J. Gedge, with Mr. A. Shelton

Hooper (Secretary),

The Secretary having read the notice" convening the meeting,

The CHAIRMAN said Gentlemen,The

J. H. Both, with Mr. M. 8. Northcote (Secretary),

The Secretary having read the notice convening the meeting,

It

mercy on

the ones who

ought to be made about this dividend. And never ask the question why or when, inst. There are two observations which Maste The first is that in paying it free of If you can case one bit the weary burden income tax of 5s in the the share of weaker ones cast on a helpless shore, holder is placed in the same position as If you can help without the help being The CHAIRMAN Baid-Gentlemen, The if we declared a dividend of 13 per cent, noticed report and balance sheet, to which is ap- or a little over, and deduct the tax; next, learn to go on belning more and report and statement of accounts having pended the auditors report, having been by adhering to the rate of 10 per cent more, been in your hands for some days in your possession for the past week, we are steadily strengthening the finan-If you can stand the biting hark of will, with your permission, take the read. The net profits for the year uncertainties that war brings, it is our If you can learn the greatest of all lessons may, I think you will agree, be taken dier that in time of war, with all the And just look on and let them have their

cial position of the company, and fur critics

as read. The balance of profit and loss amount to $49, 438.05, to which must be

fing account is $85,269.67 is against 852700.66 added the amount brought forward from duty to do so. The output of coal has to hide the tear and cure the heart to our last account, amely, 8666,324.73, been regulated according to the demand, in 1916, and we carry forward to new making a total of 8717,702:42, from which In order to keep down expenditure. If you in live en near the gate of Heaven profit and loss account $11,118.57, not we propose to pay the usual dividend of development work line been limited to To catch the music of the Angel's song withstanding that the cost of repairs per cent upon the paid up capital. providing the required output and main And through the night of wholesale death

thus absorbing $52,025, and, after paying faining the ore reserves. The coal in and horror amounts to $6,143.65, an increase of directors and auditors fees, carry for sight at the end of the year was To look with $2,455.52 over that of the previous year.

ward 8647,037.12. Our investments in tension power lines between the various |16.344.000 tons. The erection of the high mortgages have been reduced by some As I informed you last year, the rents $195,000, several of our loans having mines has been completed. The first you can turn the trench by cheery dug from Alien Enemy Jeases had been been paid off during the year, and the section, that between the Linsi and Into a palace full of smiling friends fully mot except in one case, and whilst greater portion of that sum has been re Chackochwang mines, is in ups. The And teach them one and all to take on

invested in shares from which we have remainder awaits the completion of the bravely that amount due has not yet been paid not yet cazned a full year's revenue, additional generating plant at Linsi The hardships and the trinds, which God. we have hopes it may later on be re-

This fact accounts for the decline in and sub-stations, which has been delayed sends interest account. Rents show in by the difficulties attending manufacture If you can f

a face all hardships of a warfare covered, but we have deemed it advisable orcase due to periodic letting of por and shipment from Europe. It is hoped And stoutly sheet the fate

Yaumati for soal storage. Our house order by the end of the present financial property is in good order, and is leased year. The wines will then be in a posi-And talk of nothing else but victory, of the property is now fully occupied for a term ut a fair rate. I now beg to on to cope with a demand of tares If you can step across the narrow border With just your plain and simple duty propose that the account is presented he and a half million tens of coal per With repair, I now beg to propose that the been duly secunded I shall be pleased to out the difficulty of predicting anything You'll win a Crown, my son a Crown, and has been kept up in a good state of actopted and passed, and after this has annum. As regards the results of the you

year now current, Major Nathan points If you can follow out the Christlike accounts as presented, be adopted and reply to any question shareholders may under existing conditions both in the passed, and after this has been duly Mr. La CHEUNG Suvi ecconded, and the general position favourable at least last of the administration's long-time seconded I shall be pleased to answer any the propásition was unanimously carried for the maintenance of Bales and profits charter boats, so that the difficulty to day questions sharelolders may wish to ask On the proposition of Mr FYPL

Mr. H. W. LOOKER seconded, and the seconded by Mr. Sera, the Hoth Mr. E at the level of the past year We have is greater and not less than before. On report and accounts were unanimously Shellim and Mr. C. S. Gubbay were re the sales have kept up to eat year's tinues to be good, and after taking a the satisfaction of knowing that so far the other hand, the rate of exchange con approved TRA

Cere, and Reconded by Mr. Ho Foog, and a fraught with great difficulties. Two of of the year's operations will be, antis- It was proposed by Mr. LEPE and level The most uncertain factor in the careful view of the whole situation, we situation is that of freight, which is feel sufficiently confident that the results animously carried, that Messrs. H. Percy the administration's long-time charter factory, Smith and C. Bernard Brown be re- boats were requisitioned by the Ad- appointed auditors, at a remuneration miralty in January of this year and are of $50 each.

still under requisition, and I regret to

lot may

to make provision for at in the accounts tions of our undeveloped laudat that the whole line will be in working T YOU Can smile when other faces harden"?

as a bad or doubtful debt. The whole

wish to put on

en elected directors, On the proposition of Mr. C 8. GUBHAY, seconded by Mr. G. HASTINGS, the Hon Mr. B. Shellim was re-elected a

director of the Company.

Mr. Loozer proposed, and Mr. GuEBAY seconded, the re-appointment of Messrs H. Percy Smith and C. Bernard Brown a enditors, at a remuneration of $75

each.

This was all the business, and the CHAIRMAN announced that dividend warrants would be ready next day.

Far East and in Europe, but he considers

pattern

The directors report and accounts at say that within the last few weeks the declared of 5 per cent, making 10 per June 30th, 1916, were received and Admiralty requisitioned the third and

adopted, and a final dividend, was

matera, cent. for the year, free of income tax, (Continued at foot of next Column.) payable on December 20th, 1915,

Kwan Tys.

LANE CRAWFORD & Co..

Obtainable in Canton fro SINGERS CO., LTD.

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* 83.40 per docen.

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