1924-02-02 — Page 4

For Winter Wear

Shirts

THE HONGKONG DAILY PRESS, BATURDAY, FEBRUARY 2ND, 1934.

Let us advise you on this important rabject.

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:r

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THE CHINA DISPENSARY

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I

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SHOW ROOM:

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GOERZ

TENAX

SOLE. AGENT

HALL, LAW & CO.

TEL. 3217.

YE OLDE PRINTERIE, LTD.

PRINTERS, BOOKBINDERS, ETC

14 QUEEN'S ROAD CENTRALE

(NEXT DOOR. To Lasanus)

V. C LABRUM, Managing Director,

COMPANY. MEETING. HONGKONG, CANTON AND MACAO STEAMBOAT CO., LTD. DIRECTORS FEES INCREASED.

I do not think there is anything more

14

SHANGHAI

that calls for comment, and I now be THE HONGKONG AND S

I am sure

to propose the adoption of the report and After this has accounts as presented, been reconded, I will be pleased to an- swer to the best of my ability any ques tiens shareholders may wish to put

Mr. CHAU TAU NIN, in seconding the The one hundred and fourth ordinary adoption of the report and accounts, said 'general mecting of shareholders of the It gives me great pleasure. Mr. Chair Hongkong, Canton and Macao Steam- man, to congratulate you and the Com- boat Co., Ltd., was held yesterday at pany's Directors on the excellent accounts

statement you have made. noon at the office of the Company. The you have placed before us; also on the Hon. Mr. P. H. Holyoak presided and every shareholder will agree with me in there were also prescut:-The Hon. Mr.expressing our appreciation to the Board af Directors and managenent on the A. O. Lang, Sir Robert Ho Tung, Mr. wonderful way, this Company has been its present condition, especi D. G. Bernard, Mr. W., E Clarke, brought to Mr. John P. Warren. Mr. H. Staples ally when we remember the unsettled trading conditions and political unrest Smith, Mr. Chau 'Sia Ki Directors), Mr. of the neighbouring provinces during the Shareholders will John Arnold (Secretary), and the follow. whole of last year. ing shareholders: Messrs. Chat Taui Nin, endorse the continuance of the Com- pay's conservative policy, which has served the Company so well in the past, J. Owen Hughes, C. A. da Roza, E J. Figueiredo, S. Danenberg, P. O. Roza, of not paying out in dividends the whole of the Company's profits, but making J. M. Alves, W. Bra@ary, A. "McFarlane,

the necessary transfers to build up the G. S. Zigfasern, F. Thomason, A. H. M. Company's various reserve funds. While we, as shareholders, rojoice at the pro da Silva and E Dauenberg.

aperity which seems to increase year by year, we desire to associate ourselves with the Directors in cordially endorsing our appreciation of, the office staff's ser vices by approving of the bonus voted then, and the transfer to their provi- dent fund of the sum included in the accounts. With these few words, it gives the much pleasure to second the adoption (Applause.) of the report and accounts as presented.

The CHAIRMAN said: Gentlemen,The Directors report and statement of ae counts have been in your hands for some days, and I propose with your consent, to take them as read and only briefly refer in the course of my realarks, to such items as call for consideration

#

I will now invite your attention to the Your Directors have balance Sheet. utilizel 119,110.2 to write down the

The report d accounts were then an book values of steners, wharves and properties and have transferred similar sus as in 1022 to reserve funds, vizanimously adopted.

The appointment of Messrs. J. P. $25,000 to equalization of dividend fund and $25,000 to special repairs Innd, and Warren and H. Staples Smith to the added $5,233.10 representing 200/3/3, at Board of Directors in place of Mr. T. G. exchange of 2/3.15/16. to floating staff Weall and the Hon. Mr. E. V. D. Pazr, pension fund and a sum of $2,000 to staff was confirmed on the motion of Mr. J. provident fund. An interim dividend of Owes egres, reconded by Mr. C. A. Da $1.00 per sbare was paid in August last, and there is available for distribution the sum of $272,682.33 which includes $10,707.13 brought forward front, the pre- Your Directors recommend

vious year.

that this should be dealt with as fol- lows:-

Payment of final dividend

of $1.00 per share

Payment of a bonus of $2.00

per share..... Payment of a bonus to office clerical staff and wharfia-

Carry forward to a new profit

nud loss account

gers

Ilaza.

On the notion of Mr. F. THOMSOS, seconded by Mr. G. S. ZIMMERX, the Hon. were unanimously re-elected to the Board Mr. A. O, Lang and Mr. Chan Siu-ki

Directors.

Messrs Love, Bingham and Matthews and Messrs. Linstead and Davis were

$ 50,000.00 elected auditors for the ensuing year at a remuneration of 8000 each, on the motion of Mr. A. MCFARLANE, seconded by Mr. J. M. ALVES.

160,000.00

3,778.00

9.50-1.33

$272,682.33

{༔

Mr. C. A. DA Roza proposed that Mr. J. 31. Alves be elected to the vacant scat on the Board of Directors. This was seconded by Mr. FIGUEIREDO and carried unanimously.

Mr. B. W. BRADBURY said: Mr. Chair man and Gentlemen,-Before we disperac f particularly wish to associate myself I trust these allocations will meet with with the remarks of Mr. Chau Tsui Nia. I ani confident share: Most of the shareholders, Intu sure, know your approval. holders will he pleased with the dividend the position of local shipping at the pre- and increased bonus which we are paying sent time, and it is very satisfactory to this year. and your Directors, after most find that this Company, after payment careful consideration, are satisfied that of the highest dividend in its history, has in not recommending a larger final divi dend than $1.00 and 8200 bonus at the been able to strengthen its various re- serve funds. Extraordinary ability. must present time, they are acting in the best have been shown and exceptional de- interests of the shareholders, believing

manda made upon the care, knowledge it to be the soundest policy that the Com-and time of our Directors in order to It' is pany's financial position should be main produce these excellent results tained, by strengthening our reserve only right that we shareholders should funds. The investment fluctuation ac

not confine ourselves to mere words of count has been increased by $146,103.72 praise, but that our thanks should take This augmentation is due to the excep- sonic tangible form, and I beg therefore tional rise during the past year in the to propose that the Directors' fees be values of local stocks, and your Board raised from $1,000 to $1,500 per annum, being of the opinion that the present for each Director, and $2,500 for the shaormal prices may not be maintained Chairman in the near future, deem it prudent to leave this book profit in the fund for future contingencies

You will, I feel sure, approve of the action of our Directors in the various con- tributions on behalf of the Company to various charities. You will note a sum of 82.55 has been made to the dependants of the armed guards killed and to the gaards wounded in the S An piracy. In this matter we have followed the exam ple of the Hongkong Governoicut, who have made a similar grant for the same

purpose.

л DeW

of the Board of Directors. The present scale of remuneration has heen in force for over 21 years and I am confident every shareholder will agree with me and support my resolution that it will be more in accordance with the work done that a change he made now. I have also much pleasure in proposing that the Auditors' fees be increased for each auditor to $1,000 per annuam,

Mr. FIGUEIREDO: I fully endorse the remarks made by Mr. Bradburg and I have much pleasure in seconding his proposition.

The motion was carried unanimously. The CHAIRMAN thanked the chareholders My predecessor in the chair referred

for their generous remarks and for the at our last annual meeting to steamer, ordered to replace the increase in the Directors' fees which they Honam. I am pleased to inform you that had just voted. He assured the meeting, the new steamer Lughan was delivered from many years of experience, that the by the builders in October last and is labours of the Directors had grown very now employed very successfally on the heavily and that a large amount of time Canton service. Negotiations are now during the Directors meetings had been proceeding for the sale of the ss. Honam.taken up in studying the Company's You will have noted with pleasure the prosperity and welfare, which resulted in very satisfactory increase in our profits: methods of economy being excreined with This is partly due to the suspension dur safety and with reasonable care. ive part of the year of the through ser- vier of the Kowloon Canton Railway and partly to the rigorous policy pursued by nr management of exercising the great est economy bombined with efficiency in every branch of the Company's business.

You will perhaps expect me to say something as to the prospects for the present year and in this connection I feel in a somewhat difficult position. I wish

This was all the business before the meeting, the CHAIRMAN announcing that dividend warrants were ready and could he obtained on application.

WIFE CHARGED WITH MUR- DERING HER BUSBAND.

I could speak more encouragingly in re SAID TO HAVE USED POISONOUS

HERBS.

An unhappy married life of two years' duration is stated to have led to a young Chinese man having been murdered by his wife The couple lived at Lo Uk

Kard to the current year's prospects than I fear present circumstances justify. The political affairs in the neighbouring pro- vinces of Kwangtung and Kwangsi exer cise a considerable influence on our busi ness, and this being so, the disturbing elements which continually arise, and. have arisen on after another for months village, on Lantan leland, and it is stated that they quarrelled continually. On the past, create such a feeling of instability geth inst. the deceased's father and and uncertainty in the minds of tradere mother are stated to have overheard the that business is almost confined entirely woman remark that she was going to to bare necessities. All I can say is that poison her husband. On the same day in spite of various handicaps, and in the husband became ill and later died in snite of the fact that we have to meet the presence of his father and mother. the competition of a steadily increasing The wife has been arrested, and yes. number of native-owned opposition yesterday. she was brought before Mr. J. R. acis, we hope that our past couservativo Wood at the Magistracy and charged policy of building up our reserves will with murder, The case was remanded enable us to maintain a steady record for a week

during 1994 and that when, in time, local

trade conditions improve we shall benefit

by the change. *

I cannot close there remarks without EUROPEAN LADY'S POCKET expressing on behalf of my colleague,

and myself our appreciation of the very satisfactory work done by the Company's agouts both at Canton and Macao, and

PICKED

Miss Lysaught, of Burnbank," Shan-

by the staffs both on shore and afloat kiwin Roul, has reported to the police that whilst she was walking up D'Aguilar during the year under review.

Street, on Thursday, someone came "be.

Bubject to your approval the Directors propose setting aside a bonus of $3,778 hind her and took her purse from her for the office clerical staff and the Com- coat pocket. The pick-pocket escaped

with the pures which contained 865. pany's wharfingers.

HOTELS, LIMITED.

TOTICE IS HEREBY GIVEN that An EXTRAORDINARY GENERAL NOTICE IS HONG KONG

hidnt Tax Husarosa Hotel, Victoris, in the Colony of Hongkong on WEDNES DAY, the 18 DAY of FEBRUARY, 1924, at 2.30 o'clock in the AFTERNOON: wap the subjual Risations will be proposed as Extraordinary Resolutions:—

1)

That the authorised Capital of the Company (which is now $5,000,03) consisting of 500,000 Shard of the nominal value of $10 on: whereot 375,000 to be issed) be increasel from $5,000,00) consisting as afore sai to 219,003,000 (ensisting of 1000,000 Shares of the nominal value of $10 each) by the creation of 500,000 aditional Shares of the nominal value of $10 each ranking (subject as hereinafter mentiered) as from date of allotment for dividend and in all other respects pari pairs with the Shares constituting the Company's present issued capital."

[(2). “That in the first instance 875,000 Shire be offered at par (in the propic tion of oge NiwShare for every one Old Share held by them respectively) to the persons who on thi date of the confirmation of this Resolution as a Special Bolution as registerel in the Company's Share Register as the hollers of th 375,000 Olâ Shares, any that on accaptance of the offer the emilym da in respect be much. 875,90) New Siares shall be payable as to the Sum of So part thereof a saptance of such offer and as to the balance thereof on the 30th day, of Juss, 192kAnd farther tat natil such time as the saiți 975,000 New Shares shall be fally paid they shall pia-iris the said 373,0 10 Old Shares, rank for dividend only in proportion to the ratio borne by the amount paid up thereon to the full nominal vulus ($10) thereof, and that any of the said 975,000 new Shares which shil not be taken up by the Company's Shareholders in manner aforesaid be disposed of in such manner as the Company's Bard of Directors shall think it."

C

(3) That such offer by made by Notics specifying the number of Shares to which the member is entitled an Emiting time within which the offer if not accepted by the member on behalf of himself or his nomines will be deemed to be declinet and thit the Director bo at liberty to fix such time... and, in the case of Shareholders whose place of Ad·lrame is not in Flongkeng to extend it to such date or dates as they pay think fit"

(4)

(5)

"That the balance of 233,000 Shures constituing the Company's U issver Capital bo issue at such time or times in such manner kad for such purposes and upon such terms and einlitions in every respect" as the Company's Board of Directors may decide."

"That the Regulations contained in the printed document submitted to the Meeting and for the prep se of identification subscribed by the Chairman thereof be approved and adopted as the Articles of Association of the Com- pany in substitution for and to the exclusion of all the existing Articles thereof."

AND NOTICE IS HEREBY "ALSO GIVEN that further. EXTRAOR. DINARY GENERAL MEETING of the. Company will be held at the same place ou THURSDAY, the 28TH DAY of FEBRUARY, 1924, at 2.35 o'clock in the AFTERNOON, for the purpose of receiving a Beport of the Proceedings of the above-mentioned. Meeting an 1 of confirming of thought fit as Special Resolutions the above-mentioned Resolutions.

The TRANSFER BOOKS of the Company will be CLOSED from Thursday. the 21st day of February, 1921, to Thursday, the 25th day of February, 1924 (both days inclusive),,during which perial no transfer of shares can be registered.

The suggested new Articles of Aygo iation are similar to the old, subject to clerical alterations aul to the following alterations of substance, viz: ---

(1). The deletion frora Article 71 of this words and holding or repreecating by

prory not less than one-tenth of the issued Capital."

(2) The alteration of the minimum aum ber ofDirectors to four and of the

maximum number to sever.

(3) The alteration of the remuneration of Directors to payment at the rate of Four thousand dollars per annum and such sums as a General Meeting may determine instead of the fixed sum of Three thousand dollars per aonam and such sums as a General Meeting may determine.

"(4) The alteration of the quorum of Directors to three instead of two. (5) The addition of Articles enabling the appointment by the Directors of a Local Board of Advisory Committes in any place at a remunera/ion to be" fired by the Articles and the appointment by the Directors of Local General Managers, Secretaries or other Assistants, delegates or Attorneys at a remuneration to be fixed by the Director

(6) The addition of an Article enables the Company to have an Oficial Sea!

and Local Registers in plates outside the Colony.

A copy of the Articles of Associs ios of the Company with the said alterations and amendments incorpora ed an indicated is red ink or red print can be seen daring usual bariacas bears at the Registered Office of the Company, Powell's Build- ing, Des Voeux Road Central. Victoria, in th Colony of Hongkong, and at the Shang- bai Office of the Company in Hongkong Bank Building, Shanghai, in the Republic of China.

Dated the 31st day of January, 1924.

[284]

By Order of the Board,

PERCY H. SUCKLING,

Secretary.

REPULSE BAY HOTEL,

SPECIAL NOTICE.

CHINESE NEW YEAR'S EVE DINNER DANCE

ON

MONDAY, 4th FEBRUARY.

Tables for above may now be booked at the Hongkong or Repulse Bay Hotels.

THE HONGKONG & SHANGHAI HOTELS, LTD.

PIANOS FOR SALE OR HIRE.

TSANG FOOK PIANO CO.,

TEL. 2127.

944, WAXOLAI Boan."