1922-03-02 — Page 2

THORNYCROP

JOHN L. THOBKYCHOFTĮ▲ CO., LIMITED!;

·BRIFRUILDERS AND EnginyIns,

LONDON, BOTTYaminon and BAKINGETORE,

Shangbai Offer:

10, Kiukiang Road

THE HONGKONG DAILY PRESS, THURSDAY, MARCH AND, 1992

15 B.H.P. 30 B.H,P. 50 B.H.P. Engines in Stock

For quotation apply--

TENNIS TOURNAMENT SEASON

TENNIS

SHOES

SHANGHAI OFFICE.

A reliable English made Tennis Shoe with either Canvas, Buckskin or Tan Calf uppers and beat Red Rubber soles- Specially made for us to withstand climatic conditions and hard wear. All sizes in stock Price from $950 per pair.

SWEATERS-SHIRTS-BOOKS-BELTS-SCARVES

MACKINTOSH

& CO. LTD.

MEN'S WEAR SPECIALISTS

Alexandra Building

Des Voeux Road

Telephone 29

WAYGOOD-OTIS LIFTS

For particulars and quotations apply to

The Sole Ageats-DODWELL & CO.,

TELEPHONE 1030.

WORLD

MACHINERY DEPARTMENT."

LTD.

THEATRE

Hongkong's Most Modern Picture Palace. Entirely Under British Management.. TO-DAY 515 pm & 9.15 pm.

OLIVE THOMAS

in

THE

FOLLIES

GIRL

OLIVE THOMAS LITTLE SOUBRETTE WHOSE "SUNNY PERSONALITY COAXES BACK to HEALTH

AN AGED INVALID..

2.30 & 7.15 pm performances.

EILEEN SEDGWICK in "DIAMOND QUEEN'

Episodes, 16 & 17"

TIBUAL PRICES. BOOKING AT THE THEATRE.

VIBITORS

TO CANTON Shou'd Parotze

BY THE PEARL RIVEE

CAPTAM C. V ILOYD With Difustrations, Napsand Fia"

PRICE

#1.75

pl On Sale ar Hongkong: "DAILY Frass. Oca

Hem KELLY & WALIS, L77- MET BETYxz à Go MONTA & Watson & Co

AGENTS AND MERCHANTS. We manufacture products that are sold everywhere at profits -ranging.from-tv to 100 per... MODEAN FORTRAITS, CONVER GLANSZE, BERTIND TRATE, WINDOW GLASS, MOULDINGS, ở MIKROES PICTURE FRAMES

COMPANY MEETING.

EWO COTTON MILLS. LTD.

AMALGAMATION EFFECTED.

JAPANESE

COTTON TRADE AND CHINA.

THE STRIKE.

A

A CALL TO PRAYER.

SERVICE of Intercession. SPECIAL

will be bold in Sr. ANDREW'S CHURCH,

IN TARIFF.. Japanese spaners are viewing the new Chinese tariff with a considerable amount

A of alarm and there is a pronounced lear that the trade in cotton goods and cotton serious setback upon the introduction eff Kowloon.. yarn with China is going to receive a the new schedule allowed by the ruling. of the Washington Conference.

TLB. 12.300,000 UNDERTAKING- After drawing attention to various items in the balance sheet, the CHAIRMAN said: Before closing my remarks on the accounts DISMAY AT PROPOSED ALTERATION I should like to draw your special atten- tion to the fact that allowing, for the The first ordinary meeting of share-inviable reserve of millions in Land, holders of the Ewo Cottor Mills Ltd., Buldings and Machinery and taking into of Preference Shares account Tis. 900,000 af was held so Shanghai, on February 23rd,

pay 8 per cent.) which wo (upon wo only at the offices of the General Managers, and the visible reserves (aggregating Tha Meyers. Jardine, Matheson & Co., Ltd.,3,600.000 if you pass the Consulting Com. mittee recommendation) no iras a sum Mr. A. Brooke-Smith presided and was that Tis. 19,500,000 is represented in your supported by Messrs.C. Gordon Mackie, undertaking and earning profits to pay E. E. Clark, F. Ayscough, H. Martin dividends on the existing ordinary share Little. Zee Quao-yuen, Pau Chin-poo, capital of 4 milliores, I think you will readily admit that this is a highly grati Weo Ling-shu (members of the Consultfying state of affairs. (Applause); ing Committee). Mr. R. J. McNicat (Secretary), Mr. C. H. Wright (legal When "outlining the details of the adviser), and a number of shareholders.malgamation scheme, shareholders in the The CHAIRMAN said:-Gentlemen,-laold Companies were informed that while the authorised Capital of this Company addressing you today, I have the plea would be Tls, 5,000,000 of Ordinary and sure to record the successful amalgama-Ts. 1,000,000 of Preference Shares it was tion of the Ewo. Kung Yik, and Yang Tony proposed to issue Tis. 4,000,000 and Tl500,000 respectively and that the tszepoo Cotton Mills, also to review the balanco would be available for fresh exten- report and accounts, that are in yoursions. hands. which, with your approval, we will take as read.

With regard to the amalgamation, the Liquidators will shortly issue a report and I need to no more than inform you that at the formalities consequent on the amalgamation have been carried out, the now shares issued and the properties transferred. This Company now possesses 153,600 Spindles and 1,914 Looms, niso Waste, Bleaching. Raising and Dyeing Hlants.

accosts.

N

ISSUE OF SHARES.,

Taking the official figures for the year of 1921, which state that the trade with China in cotton yarn and colton goodly amounted to Yer: 150,000,000, the exports figure a reduction of Yea 3,300,000 - ports. This loss will be a serious blow to the smaler concerns engaged in the enterprise, and when it is considered that the majority of firms engaged in this phase et industry are of that type, the

serious one. question immediately becomes

27

a

very

TO-DAY (THURSDAY), at 6 P.M. -

!

The Lord. Bishop will take part.

[807

SECOND HAND IN GOOD ORDER. ANCHORS & MUSHR. OMS ANGHURS

4 ANCHORS with Stocks, sach 75 evt. also 2 Mosing Anchors (ashrooms), escl 5 tons (Required, no Chains). Apply with price eff Shanghai giring sketch nad o: photograph of ame with full particulars to-

BOWERN & CO.,

Shipbrokers, No. 8, Museum Rod Shanghai--

ני

ORDINANCES. 911-1915 and

There are some who suggest that the Japanese should raise the price of goods shipped out to China, but there are

103) the amalgamation certain others of the more conservative type who Prior to Capital expenditure was authorised by clain such a policy would be suicidual the (bas ting Committee of the old Conto the industry in this country. pastes and since the inauguration of this Company the General Managers, with the approval of the Consulting. Committee, have found it desirable to order further machinery, erect new buildings and ac- quire land for native houses Sines the nnnigaa. at on expenditure in this respect has aggregated Tis. 563.000 and we are committed to a further outlay of Tls. 600,000 in the near future, with the pos sible necessity arising for greater expendi- in native housing accommodation.

A general meeting of the spinners will IN THE MATTER OF THE COMPANIES be held at a near dato and one of the propositions up for consideration is that

BUILDING CO., IT!! (In Liquidation.) of developing the primitive industry in IN THE MATTER OF THE WEST POINT China itself, with Japanese capital and under Japanese management.

FURTHER ISSUE OF SHADES. Bearing, these factors in mind, the Cerera laagers and Consulting Com

A comparison of our first balance sheet with the last issued reports of the old Companies will show that te equalise the additional capitalisation brought about! by the amalgamation Land and Plantwitter base for some time past been de and Machinery have been written up and bring on the advisability of acquir- ing further. Capital and have arrived at reduced-this was done after

decision to issue 100,000 Ordinary shares careful deliberation and with the approval at a premiua of Ts. 5. which will make of our Auditors. In order not to weary

availabir you with details 1 propose merely to give you the totals to show how we have dealt with Land. Buildings and Plant and Machinery.

The book values of the old Companies were Tls. 3,062.37, whereas those of this Company are Tis. 4,319.783.37, but the valuations made by experts at the time of the amalgamation were no less than Tls. 6,3-18,561.87.

milion tae's and provide for all known requirements for some time to come. Adopting a progressive policy in our business generally means money and I feel sure you would not wish your undertaking to be handicapped for want of Capital.

This, it

is claimed, can be done casily by using the Japanese capital now tied up by the spinning companies in what is called the reserve rund. At the same time, it is maintained, this section will stimulate aid promote the purchasing power of the Chinese themselves.-Heuter.

PAINFUL TRAGEDY IN SHANGHAL

FOREIGN WOMAN'S DEATH

A preliminary inquest was held by Mr. G. W. King, H.M. Coroner, last week, to distrissing tragedy. The wife of Sergan. C. Pelling of the Municipal Police Sinza Station, who had only bien; married about two years, was found dead in the sitting room of their quarters in Avenue Road, with bullet wound through her head.

"Under the Artices of Association the General Maragers, with the approval of this Committee, have full power to issue As regards the word "cost" in the all or any portion of the unissued shares without obtaining special authority from balance sheet 1 wish shareholders clearly the shareholders, and in the present in-and apparently the shot did not arouse}

to understand that it means "cost" to this Company, not original cost of the items involved.

"

PRUVIT AND LOSE.

Sergt. Pelling had been on hight duty

stance it is proposed at an early date to anyone in the house, for it was nut until offer the new shares to existing holders a boy went to the room in the morning The old-the that the tragedy was discovered. in the purtion of new for new shares to rank for dividend as from shot had been red from a 32 calibre 1st-shares not taken up by revolver. Evidence of identiɓention hav- Jaloers will of course. De sold for ing been given, the inquest was adjourn

ed unti! next Wednesday.-S.-C. Daily the benefit of the Company,

rux

From the prout and loss account it will be observed that, inclusive of the prots donated by the vender companies, the

The premium on the shares (T., 500,000) profits uuiount to the very satisfactory figure of Tis. 180,651.30, which, alter will we placed to the credit of Share deducting the laterim Dividend, absorb-Premiuut Account and later, with your ing Tis. 480,000, the Consulting Com-approvat', he transferred to General Re-

As serve Fun mittee recommend you to allocate follows:-

To pay Dividend in Preference whites at rute of S per cent. per alham from April 6th.. to December 31st, 1921. To pay a final Dividend on 600.000 Ordinary Shares of Tis 240 per share, To write of Buildings: To write off Plaat and Ma

To

of Water Supply...... To write eft Furniture

To add to General Reserve

Fuad......

To add to Equalisation of

Dividends Fund

To add to Cotton Fluctuation

Fund

To add to special Repairs and Renewals Fund.......

To add to Chinese Super- Annuation Fund..... To pay Bonus to Staff it, the

Mill

To donate to Charities anti To carry forward to New AC-

Count

Tis.

$3,260.27

LINER'S MISSING GOLD. NEARLY ALL RECOVERED.

In this connection it has been suggested that instead of issuing Ordinary Shares we should obtain what money we may re-

A few weeks ago the cables told briefly quire by putting on the market a number of the mysterious disappearance of a of Preference Share. In the first place, large sum of gold from the strong-room this is not possible, unless we get powers of the Pacific liner Sonoma, to, bave freak-issue of Breference Shares,

The rob-

TEE Creditors of the above-nated Coba- pony are required, on or before the auth day of March 1927, to send their names and addresses, and the particulars of their debts or claims, and the names and addresses of their Soliciters (if any), to HORACE PERCY

of No. SMITH. Chartered Accountant, Queen's Road Central, Hongkong, the Liquida- required, by tor of the said Company, and if

அம்பு notice in writing from the euid Liquidator, aro ny their Solicitors or personally, to come in and prove their said debts or claims at such time and place as shall ba specified in such notice or its default thereof they will be excluded from the benefit of any distribution made before such debts are prove..

Dated this 27th day of Feb. 1922.

5.0,

"

G

A. PERCY SMITH.

Liquiistor.

B

JUBLIO AUCTION

The Undersigned have received instrac- tions to sell by Jublic Arction,

on

TUESDAY, WEDNESDAY and THURSDAY,

the 7th, 8th and 9th MARCH, 1922, st. M. Naval Yard, Hongkong, and at Kowk on Naval Depot, commencing each

day at 9.30am. with an interval from

12 noon to-1.30 pm OLD AND SURPLUS SAVAL STORES.

"Cozen Whaler. Cells and

Copper

Lite Boats, Flectrical Fittings, Electric Cablo, Cooking Stoves, Ships Fittings, Iron Beds, Mattesses. and Fittinge, Ice Chests, Steel Tanks, Life- Hafts, Life Belts, Motors, Carpets, Bugs, Meta, Table Corers, Blankets, Canvas Hoses. Old Cordage, Canvas Fags, vld India Rubber, Old Leather, Old Asbestes, Old Iras, Brass Lead Gun Metal and Sicel, Coal Sacks, Fire Lampa, Searchlights, Ganges, Propelers, Fan as of the authorised Preference Capital ber seems to have been no extraordin wood Iron, Wood and Gun Metal Blocks, 1,920,000.00 there is caly a balance of Tis. 100.000.arily daring affair, according to the ful

100,000.00 LE we were to get powers to issue addi-er accounts now to hand by mail, which Engines, Steel Tubes, Steel Wire Rope, Oil... give a detseed description of the theft Chain Cable, Compasses and Compas

Sttings &c. tional Preference Shares they would only of the five boxes of gold, a total value

A quantity of Structural Stealwork sufficient 250,000.00 carry a second call on the assets of the of £25,000, and of the subsequent accilor 3 complete sheds, 60 feet by 255 feet and 5,000.00 Company unless three-fourths of the pre- dental recovery of practically the whole sundry other steelwork, and rain water pipes. 2,000.00 Lent Preference Shareholders sanctioned fresh issue to rank equally with the 26,888.30 existing shares.

Under these circumstances, and in view 25,000.00 of the possible difficulty of issuing even first cal Preference Shapes carrying 8 30,000.00 per cent. at par. I feel sure you will calors the decision of the Consulting 100,000.00 Committee.

30,000.00

60,000.00 20,000.00

8,529.39

amount.

The

gutters. &c.

"

¿

Lo is the 6th March, 1322

be inspected on Monday,

PREPAID "WANTED ADVERTISEMENTS

33

The money was shipped from Sydney by the Commonwealth Bank of Australia to its agents in San Francisco, being Also sale of ki and Surplus Victualling Stores part of a consignment of £73.000 inat Kowloon Naval Depot on FRIDAY, 10th fifteen boxes, ench containing 5.000 MARCH, CO, Finned Rabbit, Salt Fear, Beans-

Corned Beel, sovereigns. It was under the joint con trol of the captain, chief officer, and and Hiscuits for cattle or poultry food, Berge, mirser, and when the bulion tank was Flannel, etc. Remnants, Hammocks, Bedding THE YEAR'S WORKING.

opened at the pors of destination only and bandry Articles of Clothing and Mess Gear

Terms of Sale-As detailed in Catalogue. Throughout the year under review the tes hoxes of the original shipment were

HUGHES & HOUCH, Careful examination revealed demand for the products of your Mills found.

(324 had been removed By Appointment Auctioneers to the Admiralty. was fairly steady and at to period did the fact that the we carry very arge stocks el, manu-and, others substituted, which, however, Hongkong, Fubrnary shd, 1929 furtured material.

the original keys fitted exactly

only a At times during the past year Chinese bullion was placed on board

before the zhip's do Cottons were had for very high prices, few minutes

strong- T's. 2,700,C51.39 and we found it necessary to supplement parture, and checked into the

of two Common-

Letters are lying at this Office for The proft and loss account actually our requirements by purchasing larger room in the presence

quantities than usual of American and wealth Bank officials, a representave of

the shipping company, and the ship's off-Bozas OK GB, XX, IM, EN, LR IT covers a period of one year, but in order Indian grades.

LW, MA, ME, MZ, NB, NP. OG PD, to conform with legal formalities it has With the increasing number of spindles cern, so that it was considered impossible

PB, PG, PO, ES, PT, PW, A., been necessary to publish is in the manner in China it is imperative that the acreage that the gold could have been interfered adopted

ander Cotton should be developed, and with before the Simona left Sydney.

A minute search of the vessel was un- Proference shareholders in the old.Com-is is to be hoped that recent high prices panies have already been paid interest to may induce farmers in this country to successful, and it was thought that the April 5th, 1921, and it is therefore only

place more of their land under Cotton. gold had been landed a Page Page or necessary to provide interest from that The Government and Provincial Authori Honolulu, the only two ports of call en date.

tics could doubtless encourage the growth route.

Later, however, over £3,000 was U SALE, With occupation at early Aate House situated Peak District closs of Catton were they to reduce taxation, accidentally discovered'

by one

to New Motor Road. Tennis Court attached. but ore cannot be optimistic that ary. ship's engineers, who, when Apply A.D. c/o Hughes and Hough. No. 8, Des

143 shaft in the faulty ventilator A

Voeux Road. thing will be done in this direction in the near future

pushed out a shower of sovereigns. For, the present, ample supplies of strengthened the belief that the remainder Cotton are" available in India and of the gold was still on board, and on of America,

but were we dependent on Chinn the search being renewed the sum

ly from 1st April Apply SANG KEE (Applating

By

T's. $30,000 off Flant And alone should view the near future with £10,000 was found in three oil enns ans-3 NEW OFFICE BOOMS in Castral Local Machinery, Tis 100,000 off Buildings, much concern, as this season's crops will pended from the stern of the liner below

the surface of the waer and attached to / Compradora Department,

Hongkong & S'hai Bank, Des Voeux Road

(469 Tis. 6,000 off Water Supply and Tis. 2,000 not supply the needs of milis in China.

the rudder," LASQUE. off Furniture I consider we are dealing

The whole of the missing gold has been entrance. liberally with these items, and I trust Shortage of labour caused your General recovered with the exception of about we may be able to adopt a somewhat, Managers much anxiety in the past year,28,200, the loss of which falls on the in- similar course during the acxt few years and they decided to build a large num BUTLET COMpany.

ber of Chinese houses to attract hands to RESERVES CO PER CENT. OF CAPITAL.

their Milla-wages have also been raised and it is hoped we may not have any idle machinery during the summer mouths na we did last year.

HIGHLY SATISFACTORY RETVÍN,

.J

The suggested final dividend on the ordinary shares of Tis 2:40 means a turn of T's. 3 per share for the year. which I venture to think will be consider ed highly satisfactory by shareholders.

By adding the amounts I have already referred to General Reserve Fund Equalisation of Dividends Fund and Cat fon Fluctuation Fund wo will bring these reserves up to 17 lakhs, 14 lakhs and lakhs respectively, totalling Tin: 3,600,000, which is 90 per cent of the Ordinary Share Capital of the Company.

During

the period under review we have

and Renewals and it is desirable to place Tls. 100,000 to the credit of this fund,

KRYPTOK LENSES

of the

ho

Recently thers has been much agitation are conceded to be one of the very best about the employment of children in fac-forms of bifocal lenses. The bifocal seg torics and the hours of work-while ad-

OR SALE-Entire Furniture, Two-Hoom FOR SAAT MAY be viewed by appoint meat. Apply Box QD, c/o Daily From Ofice,

[4

TO LET.

FOR SALE.

LAND, approximately 7,000 square feat one

waterfront at Swatow with modern 2 stories brisk and concrete building suitable for office and godowns, Farther details apply

486

W. G. HUMPHREYS & CO.

FOR SALE

mitting that conditions here are not idealment is ground and fused into the distant compared with those existent in foreign lens making the product practically one 2 Bets of 1000 K.W. 1960S.HP 733 Bot ozpended over a lakh on Special Repairs China brings into operation a factory act piece of glass. The segmenta are totals TURBO ENGINEE with Generators and

high

countries I fear bitslo can be done until

TUTUÉE PROSPECTG,

of 626 K.W.750 BHP. LJUNGSTROM

completa with gearboxes, invisible and the lens has a beautiful Motors complete, specially constructed for

marine work, each eat

originally intended for con At the present time we are full of appearance. Kryptok lenses of any pres shafting and propellers.

These sets bringing it up to Tls. 228,784.00, as we have in sight much that requires to be orders in all branches of our business at cription in either regular or Toric form version of sailing vessels to vessels of full power

The Undertaken in order to maintain our ma satisfactory prices for 6 to 8 weeks. shinery in s

state of efficiency..

statistical position is healthy and the out are manufactured by the Hongkong daring the War. Owing to changed eirsum- stances they are no longer required for this ruz At the moment we have at the credit look is not disappointing, but increasing Optical Co., successors to Clark & Co All are now and in fest clues condition. ant stored at Singapore, of Chinese Superannuation Fund The competition from new milla must in due 111,201.52-while this is sufficient to cover course mean smaller margin of proat. At Manufacturing and Refracting Opticians, they would be suitable for shore light or power The larger det ese cost "218.00--the- OLEOGRAFER, PRAZE PAINTINGS, HARD all known liabilities to our employees. I the same time, from the figures I have-the most competent optical manufactur plasta and are at CORYED FRAMES, ART FLORAL PLAQUES TITE Propose to augment the fund with is stated, I think you will admit that we ing establishment in South China £18,000:

Full particulars obtainable from Tuz ABIATKO AQUARELLE PHOTOGRAPHE OIL PAINTINGS 30,000, as in my opinion we shall lose are in a position to do as well as any located in 53, Queen's Bond Central, however, will be refused.

nothing by being in a position to be liberal of our competitors and better than most to thoes who, through unforeseen circum of the now mille, and given a good state Fitting glasses and testing the sight is PATROLEDE CO.. (EOPTA CHINA) LTD., MARINE

DET, King's Buildings, Hongkong [கஷ் thair speciality.—ADTI, stances or old age, may need our assist of trade we can hope to earn useful

dividends. (Applause). Ance (Applaus

800

QULVER PAN-AMERICAN

EXPORTERS,

H. Dix Street, Uhicago III, USA,