1918-12-18 — Page 6

THE HONGKONG DAILY PRESS, WEDNESDAY, DECEMBER 18, 1815.

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SHEWAN, TOMES & CO.

MOTOR

DEPARTMENT,

Tel. 781.

WORKS AND GARAGE,

No. 7, Russell Street, Wanchai,

Tel. 659.

BAT

All

Classes of Repairs to

Supervision. Cars taken 00

Motor Cars carried out under expert European

Repairs,

“ASAHI BEER."

PISENER BEED

ASAHI

BE

LAGER

SPECIALLY

EXPOR

EWERY COMP

SAF

SOLE AGENTS

MITSU BUSSAN KAISMA.

T

ایمی

1.1

Monthly terms, including Storage, Cleaning,

Insurance,

etc.

HORLICK'S

MALTED MILK

Pure fadi-cream milk, enriched with choice met ed barley and whest in powder form- Kecpa indefinitely.

THE FOOD DRINK FOR ALL AGES,

HORLICKS

MALTEOMILK

The Ad?

A refreshing and sustaining beverage. rexly in an instant by the addition of hot or cold water only. Na cooking. Nourishing and convenient.

to

SOLD BY ALL CHEMISTS AND STORES.

HORLICK'S

MALTED MILK COMPANY, SLOUGH, BUCKS, ENGLAND.

British

Stampard

{*** READINESS*** and suitability for feng

or short journeys, under any conditions

give to the STANDARD LIGHT CAR

· Owner a satisfaction which can only

1come from the possession, pla

Make sure of getting early delivery:

of a Post War Model by sanding

kham wyour enquiry to:-

AL AJALINE STANDARD MOTOR COILIK, Oyager, Pacland.

AMERICA'S

LEADING

NAMAN SAKİ

X

MOTORCYCLE

STORC

C

[X290

[1709

**SHELL” TRANSPORT AND TRADING CO.

CONTINUED PROSPERITY,

The magnitude of this business, and CUTLER PALMER & COS-

particularly ita British character, “will be more fully realised when I tell you that from our companies throughout the The annual general meeting of the world no less than 1,000 of the men of members of the Shell Transport and the staffs have now joined the British || Trading Company, Limited was held at Ariny and that of the United States, in- Winchester House. Oid Broad-street.cluding a contingent of 100 men from our E.C., on October 24th, Sir Mareus) Australian Colonies. Samuel, B. (the chairman), presiding.

The Chairman said: Ladies and Gem tlemen In presenting to you the profit and luss account and balance-sheet of this company for the year ended December 31st, 1917, propose to deal, first, with the figures upon the dobit side.

The item of interest on loans, £95,270 34. Id arose almost entirely from the debris by the Anglo-Saxon Petrolum Co, L., for interest due to them on the loan they had made as in connection with the purchase of the shares in the Shell "

Company of California I am sure you will be glad to know that the realvation of certain of var ussets by sale to the Batanische Petroleum Maatschappij bos enabled us to discharge this debt, and consequently this debit will not appear in future balance sheets.

hear)

DIVIDEND PROSPECTS

For many years it has been my pleasant task to assure you of the continued pros- perity of the business. (Hear, hear.} } cum permitted to tell you that the profits for 915 promise largely to excred those which I have expounded to you- (hear, hear) but I must repeat what I bave already stated, that the burdens of taxa tion ro now so great and so constantly increasing in all countries as to render it improbable that any much greater sum than that distributed during the current year will be available for dividend pur poses. Nevertheless, the great growth in the use of all petroleum products leads us to hope that after the war, when we recover our full liberty of producing. shipping. and marketing (which is trammelled in 24 thousand ways during the war), our shareholders will reap in full mensure the reward of their enter.

prise and industry. i formally move the adoption of the report and accounts. (Cheers.)

I beg to

Mr H. W. A. Deterding: Rebond the creolution.

The motion was at once unanimously agreed to.

APPRECIATION

OF DIRECTORS

The depreciation on investments has again required £19,227 10% beenuse it has been our practice to write off as depre ciation the fall in the market value of securities as shown at December whilst we never write up any re depreciation la consequence of this Bir Fortescue Flannery, B., M. P.: sound policy, a revaluation of our invest

This meeting is rather later than usual; ments at the present time would show an generally have our meeting in the large margin on the right side. (Heather, but we understand that the reason for the delay was the difficulty in είναι getting arrangemetite fixed with Government anditors and people of that kind. The delay, however, has not been to the disadvantage of the shareholders, for what is the position in which we find ourselves? We have the number of our. shares largely increased, yet, extraordi

of nary to say, the public appreciation the value of those shares, as shown by the Stock Exchange quotations, has not been. seriously affected, and therefore anore or less those shares are a free gift and an increase of the wealth of each individual shareholder. We are all glad that that should be so, and I feel that we should. like to express that in our thanks to the board of directors. (Hear. hear.)

Unclaimed dividend, as at Drember 1 31st amounted to £270,086 108., but we sincerely hope that the deliverance of France and Belgium from the German yoke will enable the unfortunate share holders in those countries to obtain these arrears. Nothing will give us greater pleasure than to take the payment to them. (Hear, hear)

Dividends during the year (involving an additional 914,650 Ordinary shares a compared with the previous year) absorb ed £1.849,410 179. As against £1,129,013 149. in 1910, whilst we carry forward, subject to provision for excess profits tax, £1,939.032 Cs. Rd. (Cheers.)

THE YEAR'S REVENUE. Turning to the credit side, we derived E119,093 10. 10d. from interest during the year, whilst dividends from sundry companies and other credits, less debits, gave us £2,068,038 M. 7d. 48 against £1,613,724 9s. 5d. in the previous year. These were not all trading, profits. A sum of £324,751 15s, ad. was derived from profit on the sale of certain assets, name

INCREASED UBES OF OIL

1

I feel certain that the use of oil for the purpose of overy kind of production of power, and particularly at sea, will in crease by leaps and bounds. Our Ame; rican cousins have shown that they think: au, for within the last few days no fewer than thirty-six new ships have been ordered to be built in American which ly, our holdings in Russian companies will be propelled by oil engines as dis. which were sold to the Batzatsche Petro-

etro tinguished from coal

That' engines,

ie The Jeum Maatschappij. Such an item is not fut

not future largely pioneered by this company likely to recur during the current year, and by a sister company which was pro- Necessarily, no dividends were received

yen mated by our chairman. It is becoming from any of the companies situated in

engines recognized by shipowners that oil eng Russia and Roumanis from which for propulsion are the machinery of the derived income in 1910. I am sanguine future for navigation, and therefore, enough to anticipate that given a return looking at that point and various other to normal conditions in Russia and

points,

the I feel quite hopeful that Roumanin, we may again unticipate some value of our shares will be maintained returns from those countries. (Bear by the continued and even increased pro bear.)

sperity of the oil trade, and particularly of the Shell Company. Therefore, Biri

all my fellow shareholders that the very cordial thanks of this meeting be given to the chairman and the board of direc tors for their successful efforts in the in-

You will observe that no less than £2,541,000 of our investments consist of ask your leave to move, on behalf of National War Securities, your directors deeming it their duty to assist the finance of the war to the utmost of their power. (Hear, hear.)

In the report which has been circulated to

you, you will have noticed that since 1907, terests of the company, (Cheets.)

The vote was unanimously accorded.

the Bataafsche Petroleum Maatschappij and after the Chairtuan had replied, the and the Anglo-Saxon Petroleum Co.,

Ltd, have writen off for depreciation proceedings terminated, £11,893,685-(hear, hear) whilst the Bre and

insurance maring

of the fund Bataafsche Petroleum Maatschappij now amounts to 22,206,806, and the war risk insurance fund stands at £17,000. I addressed you so recently upon the general aspect of your business that there ze very little to add on the present occasion. Our relations with the Burns Oil Company continue on the most cordial footing, and by co-ordinating our resources we have been able to assist national aims. (Hear, hear.)

A NEW CHINESE LOAN,

Underwriting arrangements were mode in London on October 6th (says The Timer), in connection with an issue of exceptional interest China, which has not appeared in this market as a borrow. er since 1913, is raising a loan of £600,000. The terms of the issue are quite novel. The bonds will bear 6 per cent, interest, Bc- and the price of issue will be 195.

annual demption will be effected by drawings at par during the last five years a of parafin wax per annum, of which of the currency of the loan. The yield large proportion is in the shape of un the loan, allowing for the loss on re- candles manufactured in factories spread demption, is approximately 6 per cent.. throughout the world. The high quality

ob

It will be of interest to you to know that we produce no less than 80,000 tons

very

a rate which, of course, is very attrer

FICHIST

SQUARE

BOTTLE WHISKY.

MAPIER JOHNSTONËS

SQUARE BUTTLE WHISIO

SOLE AGENTS IN HONGKONG

AND SOUTH CHINA

LANE, CRAWFORD & CO.,

and from ALL Winn MuroHANTS.

3

REMY MARTIN & CO.,

SALEB AGENTS IN

CANTON.

Established 1784.

FRAKT

Maison Findes enger

RÉMÝ MARTIN Brandy

EMFRANCE

AVERAGE

Entry Mar

・DESFILLING AT

BOLE AGENTS

MANNERS & BACKHOUSE, LTD.

THORESEN & Co.,

1.

Queen's Buildings,

Ksay

Phone 450.

KEATINGS PLOZENGES

cure the worst Cough

DALE CLERC'S

PILLA FOR THE

of wax produced in the East Indies makes tive when compared with the yields ideal candles, so that the reputation of tainable on the existing Chinese Loads.

Shell

candles lins become firmly Nat the least interesting feature connect- established, indeed, under present cired with the loan is that it has been HALF A CENTURY REPUTATION, cuinstances the demand exocede the negotiated, we understand, through Mr. supply.

Birch Crisp. This circumstance will This brings me to another side of the revive memories of the occasion when, question. I have to inform you that the despite the opposition of very powerful petrol now delivered by us on behalf of interests in the City, and the discourage the Pool Board is not "Shell" spirit, ment of the Foreign Office, Mr. Crisp

LIVER & ZIDNKIS Invainable for diseases, of these important organs, Gravel; Pains in the Back, Gout, Bheumatim, &c. Price Sa., leading Chemists, or post fee. DR. LE Co M, CO, HAVELSTOK ROAN, NW., LONDON, ENGLAND Drynts: Parle, 12, Bow

of which, under present conditions, nono successfully fonted sloan for China Cambio, New York, 80, HERMAN STARE,

is available for the British public. This independently of the great houses usually Toronto, LTMAN, LTD., Australia, zapr Bros.,

am quite certain will be appreciated when the happy day arrives at which, "Shell" can be obtained again.

is an object lesson which

associated with Chinese finance. Needless Bydney and Brisbane; NEW ZEALAND Dave Co.. to say, the forthcoming issue is being LTD., Auckland, Christchurch, Dunedin, Welling made under the sanction of both the ton; India, B. K. Faux & Co., Calcutta,

[2675 Foreign Office and the Treasury.

Indian

pass Count the ladians on ttie rond"

We have just received a shipment of 1918 BIG TWINS with Electric equipment Price has been reduced to $580-the lowest it has ever béen. Later shipments will be higher in price. Next year's Indian will be exactly the same as the 1918 model.

ALEX ROS$ &Co.,

*4, Den1Vœux Road Central,

Telephone 2487.