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THE HONGKONG DAILY PRESS, FRIDAY DECEMBER 2ND, 1911

THORNYCROPT

JOHN L. THORNYCROFT # 00, LIMITED.

BEIFEWILDERS, AND Énainenes,

LONDON BONTKANTION AND BABINERTOLK

Shanghai Office: 10, kinkiang Road,

15 B.H.P. 30 B.H.P. 50 B.H.P. Engines

in Stock

For quotation apply-

SHANGHAI OFFICE.

MACKINTOSH'S

REMOVAL SALE

Flannel Pyjamas

Lightweight

Usual Price $7.50

Now $6.50

Heavyweight

Usual Price $10.50

Now $7.50

3 Suits for $18.00 3 Suits for $21.00

MACKINTOSH & CO., LTD.

MEN'S WEAR SPECIALISTS

16. DES VEUX ROAD,

Telephone 28.

THE RED HAND

COMPOSITIONS LIMITED,

LONDON.

Contractors to the Admiralty, India Office, War Office, Crown Agents for the Colonies, &c. "THE RED HAND BRAND."

Antifouling Compositions for Ships Bottoms, Anticorosive Faints, Ready mixed, for all purposes,

Supplica acuilable from:,...

DODWELL & CO., LTD.

SOLE AGENTS.

1198

HALF PRICE SALE

AT

WHITE AWAY'S

FOR

THREE DAYS ONLY THURSDAY, FRIDAY, SATURDAY,

1st 2nd and 5th December, We are offering for these 3 DAYS ONLY. 100 LADIES OVERCOATS

AND

350 LADIES TRIMMED HATS

HALF PRICE

REMEMBER! FOR 3 DAYS ONLY

DO NOT MISS THIS OPPORTUNITY COME BARLY

THURSDAY FRIDAY AND SATURDAY ONLY

WHITEAWAY, LAIDLAW & CO., LTD.

20,

DES VOEUX ROAD, HONGKONG.

THE CHINESE OFFICIAL

'BANKS.

STATEMENT AS TO THEIR POSITION.

The Asiatic News Agency circulated the following statement regarding the Bank of China and the Bank of Com munications, which, it says, has been received from "authoritative sources":

The Subscription

and Chinas Ama bean flat with the Registrar of Companise

list will open on 15th day of Novembar, 1921: and will close on or before 15th day of December, 1921.

THE HONGKONG HIDE AND LEATHER

COMPANY, LIMITED.

(INCORPORATED UNDER THE COMPANIES ORDINANOE 1911-1992)

SHARE CAPITAL $1,000,000.00

#

Divided into 100,000 ‘ordinary shares of $10 each.

Since the destruction of the Poking notes of the Bank of China and the Bank. Lot Communications last year, there are Paltogether about twelve million dollars in the markets of the Capital. Against these liabilities, the Bank of China has the following..properties in "hand:-- Chinese Government financial premium honda of two million dollars; Shares of the Lanchow-Mining Company worth six hundred thousand dollars; Hotel de Pekin shares eight hundred thousand dollars-shares of the Hu-yeh or Sino- Japanese Bank three hundred thousand dollars; One million dollars due to the head office by the various branches and and for the purpose of the further development of the Company's undertaking.

It is wat proposed to isms the balance of 18,000 shares until it shall appoer necessary or advisable to do so (in the interests of the Company) agencies, and one million dollars de- posited in the Chinese Commercial Bank of Peking.

The Bank of Communications has the following properties in hand which are convertible into silver, in the markets:- Three and half million dollars in Chinese Gerament financial premium bonds; one million dollars Joan to the Chung-hain- Coal Mining Company; one million dollars treasury bonds on the security of the Chungvenmen Ootrio Customs of Peking; two hundred and fifty thousand dollars in shares of the Hai-yeb Bank; two hundred and fifty thousand dollars in shares of the Sinhua Savings Bank; nine hundred and tea thousand dollars loan to the Peking-Shuiyuan and, the Tientsin-Pukow Railways and four hun- dred thousand dollars due to the head office by the various branches and agencies.

3 THE RECNT ORISIS IN

· PEKING. !

*IF THE SMASH CAME.”

THE TWO SCHOOLS OF OPINION.

Ba78-1-

Of the abors shares 18,710 are to be immed and predited as paid up, and, as hereinafter mentionså, 53,290 of the remaining shares are now offered for pablis subscription, payable sa follown:—

'

35 per Share on Application $5 per Share on Allotment.

DIRECTORS.

Hon. Mr.LAU CHU PAK, Gentleman, Caine Road, Hongkong."

`W.A. DOWLEY, Exchange and Builion Broker. Boom 6, Post Office Buildings, Hongkong,

M. CHAN HARR. Managing Director, Binsere Company, Limited, Hongkong. HO JACK LUM, Partner, Kweng Beag Lee, Hongkong.

·W; M. HUMPHREYS, Partner, W. G. Humphrayu & Co., 6, Düddalf Sirvet, Hongkong.

BANKERS.

Hongkong & Shanghai Banking Corporation, Chartered Bank of India, Australia and China, Bank of China.

BOLICITORS.-Wilkinson and Grist... BECRETARY.-Sydney Humphreys.

AUDITORS.—Perey Smith, Seth and Fleming, REGISTERED OFFICE.-5, Duddell Street.

ABRIDGED PROSPECTUS.

Object—This Company has been formed to purchase as a going concern the business known as the Humphreys Hide and Leather works carried on by the firm of W. G. Humphreys and Company of No. 5, Duddell Street, Hongkong.

4.

•

Business ––The business comprises the manufacture of all kinds of Leather and the desling in of hides and skins, and of all descriptiona of goods and merchandise, incidental, to the business of such nature, and is carried on upon extensiva, well-built, commodicas, and ------- Promises at-modern-premises situated as Ma Tai Kok Kowloon, on Kowloon Inland Lots Nos. 1957 and 640, which contain an Ma Tau Kok ares of 110,942 aquare feet, Held under a Crown Leas for 75 years with an option of a further 75 years from the 18th day of December, 1911, subject to a Orown rent of 8506.00 ALEGEN.

These premises are within the Offensive Trade Area as defined by. the Sanitary authority and Bence has been granted by the Government to carry on the business of a Tannery in all respects thereon

Site.The Site is ideal for the purposes of the business, its area is ample for say fature extensions that may be necessary, it is situated on the main road between Hok Un and Kowloon City, and is in close proximity to the ass fromte

+1

Buildings—The extensive buildings erected on the Property are constructed of the best solid brick and concrete with tiled roofs, an! concrete pits and floor. This type of construction ensures a low rate of Insurance against Fire.

-41

motive power is applied by 100 B. H. P. Crude Oil Bolinder Engins with Generator direct connected, the various processes in the Tannsy Machinery and motive power. The Tannery is equipped with the most up-to-date Hide and Loather working machinery. The being operated by separate Electric drives from individual Motors......

:

The Shanghai Journal of Commerce (Chinese) in the course of an article There is undoubtedly a difference of

Water supply.—There is an independent supply of water from a specially constructed Well on the premises which is ample and suitable opinion among foreigners, as well as for the business. Chinese, as to what the best course for

Labour.-A plentiful and healthy supply of cheap country labour both male and female is always obtainable. The expansion of the China is in the immediate future. One business will therefore provide employment to a large number of Chinese labourers whore increased efficiency and development is in itself sufi. group believes that the sooner the smash clent to commend this undertaking to all those who have the interests of Chinese and British trade at heart.

From the foregoing facts it la comes, the better it will be for China.asserted that from its equipment and position the Tannery has few equals, “** Another group believes that the Shanghai

banks, both foreign and Chinese, must be the necessary additional Capital required, in order to meet the increasing demand for their Leather; (b) To further develop the business alonz "Purposes of Formation.-The Ressoas of the Vendors in turning the business into a limited liability Company, are(a) To procare protected against any economic effects

which the smash may bring about and sound progressive lines.

that; if necessary, the rotten, hopelessly incapable, inefficient and treacherous government must be saved until after

TERMS OF PURCHASE.

Chinese New Year so as to prevent ite The Mortgagees tipulate, that $180,000, shall be repaid by the Company at an early date and consent to the balance remaining on loan. If, a The premises are sold to the Company subject to a charge to the Mortgagees to secure $300,000 at an interest of $7 per osat per annum downfall from involving the economic is anticipated, the shares now offered to the public are fully subscribed it is proposed to pay off the whole debt forthwith, situation in China.

We count ourselves among those who hold the second point of view, although we should seriously protest were we ac cused of supporting the Peking, Govern ment. Since our position is paradoxical, We of course,lay ourselves open to charges of inconsistency and insincerity. But our attitude is a result of two facts, namely that se Chinese citizens we des- pise Peking and as merchants of Shang- hai we fear that the immediate fall of Peking on the eve of Chinese New Year, time when the people of this city have gone mad with speculations in stock. exchanges (the organization of 130 has been announced thus far) involves so much that men must "pause as to the wisdom of such a smash.

at

CHINA'S LOOK.

Valuation of property-Header are set forth at conservative figures the value of the property purchased by the Company and upon which the Vendors have based the purchase price, some dentara da

Land (K. I, L. 1267 and 640-11094% Bq. feet) and Buildings thereon as valued by J. Cher Clark, Architect and Surveyor... Machinery and Plant as valued by Rebt. Hunter, of Macdonald & Co. Engineers... Stock of Hides, Leather, Chemicala and Materials eta, as per valuation by 8. Humphreys and certified by Edmund McGrath,

Tanner, less amoulits due as shown by the books

$300,505.00

... 110,779.11

740765,821 05

$437,100.16%

No charge. for. Goodwill, etc. In as much as the undertaking in a comparatively now one the Vendors present to the Company the- goodwill of the business and too trade marks and chops relating to their goods which are already well known and growing in popularity rapidly. calties have been overcome, the types of Leather most suited to the Chinese market gunged, and exact manufacturing cost ascertained.

The Vendors alio claim no recompense for approximately 2 years of careful experimental work as a result of which climatic and other diff.

(a) da Dj

APPROPRIATION OF CAPITAL.

The capital of 8502,800 to be provided by the present issue of 56,000 shares now offered for public subscription, is intended as regards $283,000:

(a) To provide for the extension of the drying accommodation of Tannery.

(5) For the purpose of providing further working capital in order to finance the rapidly increasing business.

The balance will be devoted to paying off the existing loan of $300,000 upon the security of the Property

Dividends. It is provided by the Articles of Association that a preferential dividend of 10%, per annum be paid to shareholders before. appropriation of profits is made by the Directors to the Reserve Fund.

Contract. The following contract has been entered into

"We believe that in spite of its rotten- ness the logic of the situation is with Peking. Perhaps that is the cursed luck any of China, that just when we are about... to get rid of Paking, the economic situa- tion of the people makes it necessary to

Contract dated the 10th day of November 1911 between W. G. Humphreys & Co., of 5, Daddell Street Hongkong Merchants, the owners support the banks in keeping a corrupt of the properties of the one part and Charles David Wilkinson on behalf of the Company of the other part for the sale of the business and and profligate government in power.

the leasehold properly registerrd in the Land Office as Kowloon Inland Lots 810 and 1267 together will all messages tamoments fixtures erections But thes banks are not here in Shang- and buildings erected thereon. hai, while their downfall cannot but. affect Shanghai.".

"SEEDS OF VENGEANCE,"

The purchase pirce for the sale of the properties. has been fired by the vendors who are the promoters of the Company at 8487,100, nothing being charged, for the goodwill of this gum $300,000 will be payable to the Mortgagees. for the purpose of paying off a lean of that amount advanced to the Vendors on the security of the properties, and the balance of $187,100 will be paid and satisfied by the allotment of 18,710 ordin- ary abares credited as fally paid up.

2

Confidence of the vendors. That the Vendor themselves have every confidence in the undertaking is shown by the fact that they are receiving no cash.consideration for the sale of the Tannery, but are accepting shares in the new Company. Applications will be received by-Hongkong, & Shanghai Banking Corporation; Chartered Bank of Indis, Australia and China

The mountain lande of Virginia hold some of the most beautiful scenic spots in America Ragged rocks, crowned with sweeping foliage swaying under the And liquid sunlight of the sunny South; rush- ing rivera like silver threads winding through the shadows of the hills; moan-

Bank of China.

Prospectus and forms of application can be obtained at the above Banks, or from:-Member of the Hongkong -Stock Exchange, Members of the Hongkong Share Brokers Assoc The Registered Office of the Company, or at the offices of the „Company's Solicitors, Mezera. Wükinton & Brak. 8 Queen's Bor.

toria, Hongkong---

GOVERNMENT' FIGURES.

tain suns and mountain storms. Many EXODUS OF 'EX-SERVICE - MEN. of the most beautiful of these." sylvan graphed in splendora havo been wonderfully photo Seeds of Vengeance," 7) Selct's picturization of Margaret Pres In the House of Commons recently, the cott Montague's convincing story of the Hon. E. F. L. Wood, replying to Mr. Virginia hills. The intensely dramatic Charles Edwards, stated that of the ex- picture will be shown at the World Service men who had proceeded overseas Theatre for four days, beginning to-day. under the Government's emigration The picture tells the story of a moun scheme 25,000 had settled in Canada, tain fad who is burdened with na oath,, 20,000 in Australia, 10,000 in New Zea to kill the man who shot his father. It land, 5,000 in South Africa and 2,000 else. Jin swift in action, convincing in port where...

%

rayal, and carries along the conflicting Thirty-five thousand had received free emotions of a great love and an intense passage. The total included dependents hatred. The dramatic intensity 18

sustained up to the final scene, in which and also ex-Service women. The average Late steps in and relieves David Cree of cost to the Exchequer was about £28 each.;

his oath and brings to him a great and comforting happiness.

KRYPTOK LENSES

are the most perfect doable focus glaasen: for both reading and distant. In the 700-FÍNE SILVER COIN.

ordinary bifocal lens, the segment or part for reading is cemented to the dis How many people realise that at this moment the bulk of honte silver tant lens, raising the segment abore the coinage is being made,, not at the Royal surface of the main lens. The segment Mint, but at Woolwich Arsenalf "All the and the line of union are always more real silver is being gradually withdrawn or less noticable. In Kryptok less, no to be replaced by the dirty looking alloy atuff which was ordered in a panic when the price of silver ran up to 78. an ounce. the main lens, while the whole lens is The Royal Mint still makes the dies and ground smooth on both sides to the is responsible for the alloy, but most of desired focus, "Kryptok lenses of any the actual coins are being made at prescription in either regular-ör-Torie Woolwich, as are also most of the war form are manufactued by the Hongkong medals The coining of gold has not Optical Co., successors to Clark & Dou been resumed at the Mint, and the Optical Prescription Specialists, located authorities there are hard of belief that in 6s, Queen's Road Central-ADVT,” it ever will be resumed in our time.

cement is used, but the reading segment is electrically fused in a depression in

THEATRE ROYAL. GRAND CONCERT

DANIEL ONDERWIJZER

Given by

kindly sansted by. MES," AUBREY BOWES-SMITH FAREY ORE

OÀ THUESDAY, DECEMBER, 878 at 9.15 PM, “

Admission: 83,00 82.00 81.00 Booking at MoUTRIES, "

RECOGNITION

¿Baritone)

(Boprano) (Pianist)

of the finest sauce in the world is ensured by the white signature acrosa

the red label on every bottle

Lea Herring SAUCE

The ORIGINAL Worcestershire.

(1800