1923-07-03 — Page 2

Page

THORNYCROF

AND CO. LTD.

SHIPBUILDERS AND ENGINEERS

London, Southampton ape„Basingstokel

PASSENGER AND CARGO VESFET & OF AIJ. TYPES UP TO 6,000 TONS OCEAN-GOING TUGS, MOTOR BOATS (8KA OR RIVER)

UP TO 30 ENOTE,

TURPINES AND RECIPROCATING MACHINERY AND PROPEI LERS" MARINE AND STATIONARY OIL ENGINES

8 TO 90 B.H.P.

MOTOR VEHICLES 2 TO 6 TONS.

WATER-TUBE BOILERS,

Pos QUOTATION, AFTEY

ROBERT DOLLAR BUILDING,

SHANGHAI.

Summit Collars

For Discerning Men.

FINE QUALITY-LONG WEARING-PERFECT fitting

IN EVERY WAY SATISFACTORY.

NEW STOCK JUST RECEIVED. ALL SHAPES $7.00 PER DOLEN.

MACKINTOSH

& CO. LTD.

Men's Wear Specialists.

Alexandra Building

Des Vœux Road.

YEE SANG

SANG FAT CO

BARGAIN

BARGAIN SALE

In All Departments TO-DAY!

BARGAIN

Come and See Our Displays. Let the Merchandise, Speak for Itself.

BARGAIN

BARGAIN

ELECTRO AUTOMATE

No Refills

An Inexhaustible Bright Light.

Batteries or

Accumulators.

Hand

Size $10 $15

Watchman's

Size

HONGKONG HOTEL CO.,

ELECTRICAL DEPT

PEDDAR ST.

BRUNSWICK

PHONOGRAPHS & RECORDS.

Musical Instruments,

Slazenger's Tennis

Racquets & Balls.

BRUNSWICK STUDIO.

17, ICE HOUSE STREET.

[709

THE HONGKONG. DAILY PRESE

יני".

COMPANY: MEETINGS:

SHANGHAI ELECTRIC CONSTRUC

TION CO., LTD.

LARGER PROFITS-IMPROVED

EXOHLANGE

TUESDAY, JULY 30D, 1993.

GARAGE THREATENED BY A MOB

"MANAGING-DIRECTOR'S DEFENCE WITH REVOLVER.

Lam Wing Yan, stated to be managing

The seventeenth annual general meeting director of the Hong Lok Garage. `18, of the Shanghai Electric Construction "nton Street, appeared before the. Magis- Co., Ltd., was held at Basildon House,trate (Mr. J. R. Wood) yesterday morning Moorgate, London, E.O., on Wednesday, charged with shooting and wounding a May 30th, Sir Alfred Dent, K.C.Grickahu, coolie,

| (chairman or the company) presiding. From the evidence it appears that a Tho CHAIRMAN -The operating number of rickshas "haro bern, removed. profit al 200.008, shows an increase of from their old stand outside the Naval 23,018 as compared with the preceding Canteen, and made to park on the road year. The principal variations in other outside the garage. The coolies lined up sources of prost are an improvement in their rickshas in such a way as to the profit on exchange from £13,703 to obstruct the passage of motor cars into £17,160. On the other hans, interest and the garage. One of the defendant's ears Tried to get into Anton Street from the dividends have fallen from £3.930 to £2,286, not only by reason of the lowe Prara and found his way blocked by the richas. He drove on, thus making the rato earned by bank deposits, but also tes cause during a considerable part of the tooles scatter, and trouble resulted. About

IMITATED BY

fiction

MANY.

PERFECTION

SCOTCH

EQUALLED

21000 NONE.

BOLE AGENTS:

BY

preceding year we held cash balaners and fifty coolies clamoured, round the garage. GANDE, PRICE & CO., LTD securities which wero ultimately used to armed with bamboo poles, and started to pay Exes Profits Duty, The profs on threaten the defendant, who drew his realisation of investments was £1,209 as revolver and fired one or two shots into compared with £2.391, and this is an item the air., This had us effect, so he aimed low and hit a coolie in the leg. This which cannot, of course be relied on ens

a source of income. The net result of the particular man was about to strike him several variations is a profit of £113,299, with a bamboo pole. He only fired in

as compared with £112,945, giving us the self defence, and he had a permit for the

revolver. slight advantage of

As regards appropriations, the Board The case was remanded, and bail of thought it wise to increase the reserve for $500 allowed. renewals from £10,000 to £13,000, which

was then

This defendant's brother urged with disorderly conduct. It appears that he came to his brothers aid during the trouble, and used a paner as a weapon,

is not greatly in excess of the actual ex- penditure on renewals during the year. This appropriation raise, the reserve for renewals to £94,314, which is equal to

Huls was remanded, bail of $23 nearly 20 per cent, on the construction expenditure account. An appropriation being allowed.

of £3,000. being the estimated tiability to Corporation Profits Tax. har g'so been." made, and the sum of £2,531 has been the average weekly takings of the tram

now considerably more than allocated, to the staff provident fund, the ways are nature of which was explained in my double what they were at their lowest spech of a year ago. After making these point. In view of the dilapidated state appropriations, there remains a balazey of the tramway track and the cost of re- of profit sufficient to permit of a final newing it, it is intended that the traffic dividend of 8 per cent, making 20 per business in Singapore should be re-estab cent, for the year, and of increasing the lished under railes traction on terms entry forward from £6,261 to £17,009,"

BESIDIARY COINAGE DEPRECIATION.

similar to those which I have indicated as forming part of our Railless Concession in Shanghai. Mr. McColl, who has made an An increasingly serious factor affecting exhaustive study of local conditions, is of the profit-earning capacity of the Com

opinion that railless traction is specially pany is the loss by depreciation on sub applicable to Singapore conditions, and aidiary coinage, which rose to £139.737, that a large and profitable business can calculated at 28. to the 3. There is, un- rapidly be built up. An agreement with fortunately, no indication during the cur- the Commissioners for the supply involved rent year of any improvement in the per the Singapore Company in very heavy centage of loss, but reference is made it losses, and it is one of the terms of the the directors' report y'a hope of counter-peorganisation that fresh arrangements in acting the loss. and beyond assuring you regard to the supply of power are to be that this reference was made advisedly, made.

it is undesirable that I should state the The financial conditions of the reorgani form which it is hoped the relief will sation provide for the conversion of the talog.

existing debentures of the Singapore The reference which has been made in Company into sharce of a new company, the report from year to year to the ex-and for the claims of the unsecured tension of the Company's system under creditors and shareholders to be satisfied railless" traction appears again this year, in a similar way. This will permit of the Negotiations with the Council have been new capital, after payment of the cost of long-drawn out, but agreement has been

the reorganization and the Receiver's in- reached on nearly every point, and the preparation of a draft concession by the debtedness, being applied entirely towards the requipment of the undertaking, Council's legal advisers may be regarded!

while the axisting assets, which are of con- as an Indication that negotiations have siderable value, quite apart from the con- Dearly reached finality. A satisfactory ession, will form a margin of security. feature of the terms of the concession is The administration of the new company, both in this country and in Singapore, that there will be no capital expenditure will be in the hands of our company, and by the Company in respect of the recon-we are to receive in return for financial struction of roads in such a way as to and administrative assistance, a half-share fit them for use by raifleas.cmnibuses, nor of the profits. It is believed that by guar anteeing the new Company's debenture will there be any charge for maintenance, teck and undertaking the management, That expenditure is to be undertaken by this Company's credit and iis experience in traction business can, without employ- the Council, and the Company is to paying any of its cash resources, be turned two Mexican cents per car mile for the to profitable account to the mutual advan use of the roads so reconstructed, which tage of the creditors and shareholders of will take the place of interest on capital the Singapore Company and of our-

selves..!! and cost of maintenance. The advantage |

tion.

THE LOCAL BOARD AND STAFF..

of this arrangement is that it will restrict Before concluding, I should like to ex-| our expenditure on the extension to the press the Board's appreciation of the ser provision of rolling stock overhead equip vices which have been rendered by the ment and additional car-shed accommoda. Lacal Board, the General Manager, the Deputy General Manager, and staff. It is their capacity for steady reliable work THE SINGAPORE TRAMWAYS,

and for overcoming the difficulties which For a considerable time, past we have are inseparable from any business of im had the Hingapore tramway system under portance that the success of our under taking depends, and we feel that our observation, and Mr. McColl made an ex- thanks are due to them for the satisfactory haustive report on it in 1918, This underway, in which they have discharged their taking, which was far from prosperous in duties,

I beg now to more" That the report 1918, continued to suffer for want of of the directors and the statement of funds necessary to bring it into an accounts for the year ended December efficient condition, and early in 1923 we 31st, 1029, be, and are, hereby approved and adopted, and that a final dividend of were approached with a view to our 8 per cent, less income tax, making 20 interesting ourselves in its rehabilitation. per cent, for the year, be, and it is hereby Mr. McColl then visited Singapore on his declared."

Mr. J. S. Haskell accoaded the resolu way home in order to bring his information, and it was carried unanimously, tion up to date, and as the result of EXTRAORDINARY MEETING-21 SHARES. negotiations with the Municipal Commis An extraordinary general meeting of the sioners of Singapore for a new concession, company was then held to consider a re- solation for the sub-division of the shares and with the Company, and subsequently by splitting the existing £10 shares into with the Receiver for the debenture hold-ten shares of £1 each.

ds, in regard to financial and adminis The following resolution was passed trative matters, the point indicated in the unanimously: That each of the 40,000 shares of £10 moh constituting the pre directors' report has been reached. We sant issued capital of the Company bo are assisting the Roeiver in carrying on the business, and it is factory that (Continued as foot of next column.)

subdivided into ben shares of 41 sach, and that the share realting from aueb sub-division be re-numbered in such man- nor as the directors may determine."

WINE MEROHANTS,

No. 8, QUEEN'S ROAD'OENTRA'

Tel. Central No. 135.

HONGKONG.

DAIRY FARM NEWS

Your and Your Family's Health

depend in a Great Measure on the Quality and Purity of the Food You use.

Have You Considered

the Absolute Necessity of having Your

MILK, BUTTER, MEATS, Etc. Etc.,

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PURITY AND EXCELLENCE IN ALL BRANCHES.

LOTOL

ND ITS TSE

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TO

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is guaranteed to destroy and extirpatë

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disinfects and will destroy in 24 minutes

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NO PLAGUE

Where LUTOL is, there, can be NO PLAGUE nor may kind of INFECTIOUS DISEASE.

LOTOL IS MADE IN AUSTRALIA.

પત્

THE GENERAL COMMERCIAL CO., LTD.,

10, Des Voeux Road Central.

Sole Agents for Hongkong and China.

W. P. SIMPSON

(LATE OF DIES BROS.)

Phone 3255.

TAILOR & BREECHES MAKER

has opened Business at

ASTOR HOUSE BUILDING.

DRUGS

Queen's Road Central;,

2nd Floor.

PRESCRIPTIONS

When the Doctor prescrib expecte the Drangut to fill the prescription with Pure Drug The quality of our Drugs, Medicines "and Toilet Goods is not surpassed. Have the Doctor's Prescription filled here and the result will be

atisfactory.

THE PHARMACY

THE BEL BUILDING (OPPOSITE ICE Hove Bz.)