1925-02-27 — Page 3

Page

·THE HONGKONG DAILI PRESS. FRIDAY. FEBRUARY 2778, 1925

THE UNITED ASBESTOS ORIENTAL AGENCY,··LTD.

Tel, Central 236.

7, Queen's Buildings.

SOLE AGENTS FOR

BELL'S UNITED ASBESTOS CO. LTD..

MANUFACTURERS OF

"Victor Metallio." "Dagger," "Quadruple" and

Reefer" Paokings.

Bell's Asbestos Compositions.

"Salamander" Engine & Cylinder Oils.

"Salamanderite Jointing "

QUEEN'S THEATRE.

Friday to Monday, February 27th to March 2nd, at 2.30 p.m.. 5.15 pn., 715 p.m. & 9.15 p.m.

GOLDWYN PICTURES CORPORATION

PRESENTS

LON CHANEY

ti

14

The Star of

"The Hunchback of Notre Dame"

IN

"THE BLIND BARGAIN

Thrills!

Chills!

Mystery!

Romance ..

Danger! Daring! Fights!

Love!

Suspense ! Struggles!

Don't miss this thrill-packed mystery sensation. It's great!

Buster Keaton in "Hard Luck" in 2 parts.

PRICES OF ADMISSION:

At 5.15 pm-80 Cts., 50 Cts. & 30 Cts. At 9.15 p.m.-$1.20. 80 Cts, & 40 Cts. Soldier's and Sailors Half Price to 1st and 2nd Class

FOUNDATIONS

PROMPT AND EFFICIENT SERVICE ENSURED BY ADOPTING THE "FRANKI" PILING SYSTEM

AN EXAMPLE-

CONTRACT No. 40

GODOWN STOLKY HIGH) FOR THE CHINA PROVIDENT LOAN

A MORTGAGE Co, Leo, at WEST POINT...

TOTAL WEIGHT ON FOUNDATIONS

FOUNDATIONS STARTED

FOUNDATIONS COMPLETED...

12,000 Tons.

15th Oct., 1924.

15th Dec, 1924.

(ie. 32 Actual Working Days.)

Ask for illustrated Booklet and fall information from the

HONGKONG ENGINEERING & CONSTRUCTION CO., LTD.

ST. GEORGE'S BUILDING, CHATER ROAD,

Telephone Central 4581 (Two Lines).

We specialize in pipes of leading patterns, novel assorted shapes and best finish. A regular stock is held of the following:

“ DUNHILL”.

"BARLING"

ETC.,

· LOEWE ' "BBB" "WEINGOTT "ORLIK"

ETC.

TABAQUERIA FILIPINA

38, Queen's Road Central.

PROMONTA

The most effective"

nerve-food and strengthening medicine.

SOLE-AGENTS:

BORNEMANN

CO.,

HONGKONG-Queen's Road, Asiatic Building. CANTON-No. 17, Teu Yuen Ha Kai..

COMPANY MEETING.'' MONGKONG ROPE MANUFACTUR ING CO., LTD.

The 41st ordinary unsual meeting of the shareholders in the Hongkong Rope Manufacturing Company, Limited, took place yesterday morning at the offices of Mesars, Shewan, Tomes & Co., Mr. R. G: Shewan presided.

The CHAIRMAN :-Gentlemen, The Report and Accounts for the Your endled 31st. December 1994 have been in your bands for some time, so with your permission we will dis pers with reading them. So far as business in cordage is concerned, the year has not been good one petition has been very keen, and of a kind very dificult to deal with, a qur

Com

4 ques.

Stators bave à market in the United which is practically closed to us, and can dump their surplus here at prices which leave us little more than the bare cost of making It is a tion of Free Trade against Protection, and we can anly hope that Free Trade principle too

will triumph in the entl. The Hemp

has been very

errati rising continually from 14 cents per in June to 21.50 per lb. in October. This, of course, upset our prices for rope, bet we kept out of the market as long aa we could and bought very sparingly, till the market weakened, so that we did not

Full·

have to push up par prices to

to the Fall. extent of the rise in raw material Ca der all these circumstances I cannot speak optimistically about our chances for this year, but I think we can hold our own even against urtificially support- cd competition.

ci

b

nx.ia

As you know, it was decided at the wish of shareholders that the factory should be removed to Kowloon, and the old fuctory site at Kennedy Town should developed inte blocks of Chinese dwelling houses. The terms laid dowo by the Government for the acquisition of land at Gin Drinkers' Bay being in our opinion too onerous, the idea of a factory there was given up and a more suitable site was procured at Kowloon, the purchase price bring 33.40 per sq. For the factory buildings to be erected on this site we have mada con tracts, as follows, and the work is pro- eceding very satisfactorily:

Spinning and rope houses....8218,000.00 Hemp and rope godownS

ffice.

5- and quarters $50,000,00

picker house, watch- quarters and boug- walls, etc.

99,514.72

$497,544.79

And a Bonus oft-

23 cents per share on 60,000

Old Shares

$15,000.00

cent per share on 90,000

Banus Shares 'cents per share on 49,874

New ShareS

90,700.00

1,994,96

And carry forward to the

credit of next year's account

$187,771.64

9391,548.96

When this has been seconded, I shall be pleased to answer questions from share- bolders.

Mr., ALLAY CAMERON seconded the adeption of the report, and balance sheet.

Mr. H. A. LAMMERT: How many new bouses will you put up on the old site, in addition to the now completed t

The CHAIRMAN: A little over a hundred, Mr. W. J. CAZROLL: Do you intend to dispose of these houses, or to rent themY The CHAIRMAN: We propose to rent them, though it we get a good offer we are willing to sell. We have lieen ap b it the factory will be ready! Pronched and offered a pretty good price, I Mr. KELLY SAYCE: How much a year will these 28 housea bring in

topceive the plant and machinery from Kennedy Town mech before the end of the year, but it may be a little sooner. We,shall be able to utilise almost all our present plant, scrapping very little, but e shall increase its efficiency and bring Fit up to date by the addition of some new plant which our Superintendent, Mr. Gardner,

selected and personally ordered when he was at Home last year. This machinery il cost, about 890,000

laid down here.

After careful enquiry we have come to the conclusion that the market for trawl twine is too small out here to warrant our going to the expense of plant which we find would cost at the lowest estimate some. 8115,000.

The CHAIRMAN: About $130 each per month. We cannot tell exactly. The more we put up the more dificult it is to sell them.

Mr. KELLY SAYCE: Is it your intention to build on this land'or sell it t

The CHAIRMAN: It is easier to self land;

already built on, and we thought that we bud on it and sell the house to any person who might wish to purchase. If bones are let the tenants very often buy them afterwards.

The report and accounts were then carried.

Mr. H. H. TAYLER proposed, and Mr. FUNG TAT HANG seconded, that the' Han. Mr. P. H. Holyoak, Mr. H. P. White and Mr. Alian Cameron be re-elected to the Consulting Committee, and the proposal was carried.

Work has gone on uninterruptedly at the factory, although we have just com- pleted the building of a further 12 Houses there in addition to the 10 we ärat put up. We are now negotiating Mr. H.. A. LAMMERT proposed and Mr. for the letting of these 19 houses and W. J. CARROLL seconded, that Messra. have every prospect of obtaining a fair Linstead & Davis and Messrs. Percy return in rent. But we can do no more Smith, Seth & Fleming be "re-diceted in the way of building there until the auditors, and this was carried. factory is removed, as there is no more vacant land available. During the year We sold a small piece of land to the Hongkong Electric Co., Ltd.. for a sub- station, on which we made a A profit on the book value, as you will see from the accounts, of $15,816.07, which I think will satisfy you that at 36.50 à foot wa have

by no means over-valued this pro-I. HOLTOAK, and unanimously carried-

perty.

"bat"

By the end of the year we had disposed of nearly all our investments at a profit of 8214,000.39, which has of course! swelled the Proft and Loss Account, is not available for Dividend, as proceeds have been used in part pay- ment of the new site at Kowloon.

the

The

balance sheet is, I think, quite

quite clear, but may say that the remaining invest ments standing at 818,081.75 have now been realised at a loan as call was

profit, and the a good Since

repaid

·EXTRAORDINARY GENERAL

MEETING.

An extraordinary general meeting of the Company followed, at which the fol lowing resolution was proposed by the CHAIRMAN, Seconded by the Hon. Mr. P.

Promoting Happiness

I'm always happy, sir, and when you're happy. yourself you promote the happiness of others. I'm happy because I bring happiness-in the form of Kensitas-into the lives of all smokers of discrimination and taste, like yourself, sir. You know as I always say-There's only one thing as good as a Kensitas, and that is another. Kensitas.

Ken'sitas

Manufacturers:

"the preferred cigarette

1. WIX & SONS · LTD · 17656 TICCADILLY - LONDON - W.1 - ENG. Wholesale only: DONNELLY & WHYTE, Distributors for Hongkong and South China, 1 QUEEN'S BUILDINGS. Telephone: Centrs) (4

"That the Regulations contained in the printed document submitted to the meeting and for the purpose of identi-" fication subscribed by the Chairman thereof be approved and adopted as the Articles of Association of the Company in substitution for and to the exchision of all the existing Articles thereof." Those present were: Mr. R. G. Shewan (Chairman); Mr. H. P. White, Mr. Allan Cameron and the Hon. Mr. P. H. Holyoak. (Consulting Committee); Mr. R. F. Mat-

ading our Rep in January tingly (Solicitor to the Company); Mr. |

we have been F. J. Tavares (Secretary) and the follow- approached by the representatives of

01

large number of shareholders who felting shareholders:-Messrs. A. A. Alves, that in view of the large profit made Fung Tat Hang, H. A. Lammert, B. C.

the sal

fur Randall, L. E. Guterres, P. M. N. da Bale of securities, Home ther consideration was due to share

Silva, Tsang Foo, C. A. da Roza, F. X. holders and they thought we might de B. Ribeiro, W. J.-Carroll, A. H. M. da clare a bonus. As we we find that this is Siva, I. W. Shewan, M., A. Figureido, the general wish of shareholders we fee! Tong Hok Ting, H. H. Tayler, W. T. that we must give way to this feeling, hewan, F. M. Ellis, W. H. Hawker, A. and therefore in addition to the propos A. Botelho, Y. A Ivanovitch, C. E ed dividend, we also recommend a bonus Strafford, D. W. Munton, Chos Po Min,

and Kelly Sayce.

60,000 Old shares of 25 cents

per share.. 90,000 Bónus Shares of 23

cents per share 49,874 New Shares of 4 cents

per share

$15,000.00.

20,700.00

1,094.00

837,094.90

J

I have been asked why we carry forward such a large amount, and the answer is that we could not deal with it in cash, and the only alternative was to put it to Reserve Fund or write it off the Assets. but we thought shareholders would pre- fer to have it carried forward in Profit and Loss Account where it would be more readily available for future purposes. think I have now touched upon all the points

gpon which you may require in- formation, and I now beg to that the Report and Accounts as pre- seated be adopted and passed, and that the balance of 9321,548.00 be distributed, as follows:-

Pay a Final Dividend of:-

to cents per share on 50,000

Old Shares ..

59 cents per share on 90,000

Bonus Shares

14 cents per share on 40,874

New Shares

propos

$38,000.00

$3,100.00

6,989.30

(Continued, on next Column),

HONGKONG SHARE MARKET. OLOBING QUOTATIONS.

FEBRUARY 26TH, 1925. Hongkong and Shanghai

...$1. Canton InsuİENGAN

$765 nom. Hongkong Fire Inurazços .. $71

.... $710, mom::. Union, Inwaran000_...............

$258 Douglas Steamships..... HA, O. & M. Steamboats..... 36/36] xz,

$81. Interbonka

$17} DOM.7 "Shell

.98/61 b,

Uhri (combined)

..$71 nom.. ... Tis. 22 nepe. #2044b.

.... 118k

8177 b., 17 sa 136.

Kowloon Wharvas... Whampos Docks... Shanghai Docks BAR & S. Hotels Hongkong Lands Hamparoys Estaâce ........ Ewe Mille Shanghai Cottons..... T. 604 zom

L3b Commission (combined) 3284 b. Czias Lagh... (combined) $27.20 b.. Proviámta ((old)

(Continued of foot of next Column.)

Jenkyn

Obtainable at Lane, Crawford, Ltd.

Tabaqueria Flipina Graeco-go in a

Touatcu Sitors,

and of iriga • Zluas

T

Ar 95 cents

per tin of 50

Four more packed houses at THE CORONET !

HAROLD LLOYD

is

✓

P

still breaking house records as well as stout peoples' hooks and eyes and buttons

in

HIS LATEST & GREATEST COMEDY

"GIRL SHY

8

of

Side Splitting

Reels

LOVE

of

THRILLS

and

LAUGHTER

and

SPILLS

Times and Prices

2.30 p.m.-$1.20 & 60; 5.15 p.m.-$1.50 & 80. 7.15 pm-$1.00 & 50; 9.15 pm-82 & $1.

THE

CHOSEN CO., LTD.

Chinese Silks and Satins of the Finest Quality

1

in attractive Oriental designs. They are all the rage in the latest Paris creations.

Please call and inspect these Beautiful Materials specially made for

THE

CHOSEN CO., LTD., 90-100, Des Vœux Road C.

LAI WAH CO., LTD.,

Nos. 139, 141, 143, 145 & 147 DES VEUX ROAD C. TILBYTE Nos. 0.,2309 à 0.4433.

P. O. Box No. 363. CARLE ADDRESS: "LABURNUM," HONGKONG.

GENERAL IMPORTERS WHOLESALE AND RETAIL

Dealers in Piece-goods and Chinese Silks of all kinds, Drapery, Mercery, Hosiery; Haberdashery, Embroidery, Rugs, Blankets, Quilts, Perfumery, Toilet Articles, Underwear, Handkerchiefs, Umbrellas, Leather Goods, Jewellery, Watches, Clocks, Jcy and Hot Bottles, Boots, Shoes, Bats of different kinds, Earthen wares, Tailoring and Outâtters,

PIANOS FOR SALE OR HIRE.

TK 4648-

Dairy Farmsoon Electrics

TSANG FOOK PIANO CO.,

ی وی

No. 8, Des VeroX ROAD CENTRAL (Entrance Ice House Street),

********* 152 b.

Hongkong Ropes (combined) $564 noma. Trackways

Wataona is

$57 b. &'n (old) $al nom, 14 nom

Peak Tras) 16

b buyers, eachers; unsalte