1925-03-31 — Page 4

Hamding the

take

a peg

John

CNOVA WATERPROOF

The "MACNOVA" is made to our own desigu of a specially woven cloth and, treated with a patent proofing process which sumbles it to withstand the peculiarities of the climate.

Es i« cut on free, and wasy yet smart lipes, providing perfect comfort in wear, and every detail in the making has the closest scrutiny.

THE BEST WATERPROOF FOR LOCAL CONDITIONS

Obtainable Only at

MACKINTOSH

& CO., LTD.,

MEN'S WEAR SPECIALISTS.

"Alexandra Building. Des Voeux Road.

Begg

Scotch Whisky

that has been applied in all

the Royal Palaces for 75 yourse

JOE BIOG LTD. CLASOOR

ston, Penchanck (a, London, X-C-J

HONGKONG DAILY PRESS. TUESDAY, MARCH 31ST, 1925

COMPANY MEETING,

HONGKONG AND WHAMPOA DOCK CO., LTD.

$12,000.00 SPENT ON IMPROVE

MANTS SINCE 1916.

The ordinary early meeting of share hollers in the Hongkong and Whampoa Clock Company, Limited, was held at noon yesterday, at the offices of the Company No. Queen's Building, Mr. H.. P. White presided.

After the Secretary had read the notice convening the meeting..

assets stand in our books at:' about $14,000,000, which is a very law. estimate of their actual value.

Our Directors have, therefore, after de deliberation, come to the conclusion that it is desirable in the best interesta of the Company and the shareholders, to pay off the debentures, which are in any ease repayable at the end of 1923, and increase the ordinary share capital of the Company to a figure nearer approaching to the written down value of its assets.

Brietly. I inuy tell you that the proposal is to increase the nominal ordinary share capital of the Company to $10,000,000, divided into 200,000 shares of $30 each. We propose to increase the Issued Capital of the Company to $8,000,000 by the issue of 60.000 new shares of 350 each, at the very moderate The CHAIRMAN said: Geatlemen,The premium of $10 per share, shareholders Directors Report and Statement of Ac-aving the first option on this offer in counts having been in your possession equal proportion to their holdings.

The new capital which we suggest call- for the past twelve days. I will, with your kind permission, take them as reading up as early as possible, hut at any The host dividend ofe twe dollars per rate before the 31st December, 1923, will share which we recommend, along with automatically reduce the large item of the two dollars paid to you last October, interest we are now paying. nakes for the year 1024 a distribution":

Our legal advisors have now the matter

to shareholders of eight per cent. of the in hand, and at the proper time the neces ordinary share capital of the Company, "which

trust you will consider satisfacsary general meetings will be called, when we trust to get your approval of the tory. The past year makes the third in

scheme I have outlined. succession in which companies like ours. have had to labour under trying viremn stances in fact, the year 1994 was even much more difficult than the two previons

ones,

TAKE A PEG which had the effect of deviating a certain

or

JOHN BEGG

BLUE CAP

AND

GOLD CAP

DONNELLY

&

WHYTE,

TEL 696.

This, of wurse, largely due to the continued depressed state of affairs in shipping, and was aggravated to a cer tain extent in the second half of the year by the futile and ill-advised feur months strike of monders in our employment, amourit of shipping to other ports, and delaying other important work which we had in hand. We sincerely trust there will be no weurrence of those labour troubles, otherwise we may find it difficult te compete profitably with shipbuilders and ship repaiters in other parts of the world. My predecessors in the chair for the past few years bave consistently warn

this

ed you that every Bavcessive year for some time a great deal mast he added to our capital expenditure, and perhaps the post outstanding feature in this year's count is the amount which has been spent on impavements to our properties. amounting in 1824. to about one and three quarter million dollars. The largest. item of this is the cost of preparing the site and purchasing the new fron. Brass and Steel Foundry, to which my predeces sor referred last year. This is a very modern steel framed building, feet long and 200 feet wide, fully equipped with overhead electric reines, and all the necessary equipment to tum out casting economically and expeditiously.

It should be in full commission in about thrie, or four months time, nud share-

tokley's will have the satisfaction of then. SOLE AGENTE. knowing that the Company will have an up-to-date and self-contained unit, most valuable addition to its plant which it has not previously possessed.

USE COLGATE'S SOAP AND RIBBON DENTAL

CREAM

SOLE AGENTS:

THE HONGKONG TRADING CO., LTD.,

BANK OF CANTON BUILDING,

Wing On's

11

HONGKONG.

GREAT REDUCTION

SALE

Will End on APRIL 12th.

Largest Stock combined with Lowest Price in Our Hats.

YEE SANG FAT CO.

Continued development should be the guiding principle for a company like ours, . and before long we will require to con- sider the commencement of the construe-

tion of our large new 1,200ft" dry dock..

I am sure all shareholders appreciate the accessity of this, when I tell you that very frequently there are ships in Boug- kong harbour, whose dimensions are such that we are unable to dry-dock them with our present facilities, and the number of those large ships is increasing and with increase in the future.

The problem of financing the construc- tion of this dock is one that will require to he faced, but you can rest assured your Drectors will approach it in the best interests of the shareholders.

I have endeavoured to make the situa

you, and nqyr as clear as possible beg to propose the adoption of the report and accounts, and after this has team seconded, I shall be glad to answer to the best of my ability, any questions that shareholders may desire to ask.

NOW

READY.

THE

DIRECTORY AND CHRONICLE

THE GUIDING PRINCIPLE Mr. Cuac Si K, in seconding, said:" Chairman and Gentlemen, 1 have pleasure in seconding the motion. Al- though the shareholders cannot altogether agree with the Directors that the pay- ment of a dividend of $4 for the year was satisfactory in view of the larger A amounts distributed in previous years, they realize that the result of the year's working was 3a. unprecedented one. refer to the bad debt contracted in 1923, for which $200,000 bar to be set aside.. But for this unexpected shareholder pany could have paid another $3 per share, making the dividend 8 instead of $4. Fortunately, this item is of an extraordinary nature, and is not

if at all. It is to be hoped that a portion |

L

0

CHINA, JAPAN, BRITISH MALAYA, INDO-CHINA, SLAM, PHILIPPINES NETHERLANDS · INDIA. ETG

SIXTY-THIRD

0

FOR

1925

YEAR OF PUBLICATION,

IS NOW BEING ISSUED AND OUNTAINE

ALPHABETICAL LIST OF PORNION BUSINESSES, TERIR PRRSONNEL AND (AGERCEKINI~ OLARKITIM FUSINESS DIRECTORY OF THE CHINY TRADE CENTERDU

ALEGALERICAL, LIET OF PORRIGN REALDENTS IN THE FAR HIST

GOVERNMENT AND OFFICIAL DEPARTMENTA. UP-TO-DATE COLOURED MAPS OF THE PRINCIPAL FOXTS, BITED ·TAR SAFE. DESCRIPTIVE AND STATISTICAL 1000UNTS OF THE VARIOUS COUNTRIES AND

TADS-CENTERS OF THE FAR XAOZ. TREATTENĮ TARIFTS, STAMF DETES, 11OKERAGE CHAROKS, FOSTAL GUIDA, STO KRCTISH, AMREIGAN AND JAPANESE NAVIES AND COASTING TESLIZA.

1,800 Pages

Complete Edition Abridged Edition

1,800 PREN

$12 local surreby

$3

AN "EXTREMELY USEFUL" BOOK..

Writing from Singapore, under date March 31st, 1925 Bir Godding - Thomas, Private Bouretary to HRH - Panos of Walks, mys—

8-I beg to acknowledge the receipt of your letter of the 3rd instant and am desired by the Prince of Wales to thank you for the “copy of the 60th annual adition of "Tax DiscToRT & CHRONICLA POR- CHINA, JAPAN, THE STELITE BETTLEMENTS, ETC, Io.," which His Royal 'Highness has been pleased to accept, and which will be extramaly useful during the remainder of the tour.

The Managing-Directas, ESHGKONG DAILY PERSO, LTD., HONGKONG.

WORKS OF CAMOENS.

SURPRISE" EXHIBITION IN

PARIS..

While the fourth centenary of the births respectively of Pierre de Ronsard (1521-1585), the French "Prince of Ports, and.of Laiz Vaz de Camping (1531.1830). the Portuguese author of "On has already been celebrated in their own and other countries, a surprise" exhibi- tion of early works of both ports wHA an, March 2 by a firm of London

new Paris branch.

Yourt faithfully,

Goorzar THOMAS,

(Private Secretary:}

LOCAL, SPORT.

BILLIARDA..

CHAMPIONSHIP OF THE" COLONY AT THE V.R.C.

In the arcond round of the Billiards

-Colony, C.P.6, Wr. Drayton, E. W.

Tournament for, the Championship- -f the Spry, who drew byes in the first round met last night at the Victoria Recreas Lion Club in the send round,

The manufacture of internal combustion; kely to reuar for many years to come, or, Messrs. Maggs Brothers, oppotent, who had only reached 351 by:

Spry proved far too strong for bis

of it may he recovered. I am sure that the Camoens display of first and warly the time the winner had completed the

The

CHIES BREAKS

necary 800 for game.

The chief breaks were:- Spry:

Drayton:

33, 18, 20, 29, 25, 25, 21, 1 19. 17. 16, 18, 16.

21, 16, 15, 12, 12, 12, 12.

BOXING..

engines for marine purposes is a subject to which is Company must turn its ht- tention before very long, and the posses all shareholders who have the best in- sion of modern foundry is most essen. terests of the Company at heart will agree editions is not so imposing, says The lial to this end.

with the Directors that continued deve Times correspondent, as that of Ronsard. Considerable expenditure has been in-pment should the guiding principle for the Portuguese port was not a pro- eurred on the levelling of the hill at the for our Company, if we are to maintain file an author, and was in a sense a man back of our Kowloon, pretty to form the line reputation which we Enve enjoy of one book "The Lusinds, the great

pie There were two issues unes of for the proped farse Dock, but ed in the Far East for these firany years antion of Os Lusíadua, Liston, To-night .. Peters and J. Thomas, this has not proceeded as expeditiously! It is gratifying to learn that the 1572, the exact precedence of which is meet in the second round, while to-mor as anticipated and will take about sums of money sunk in capital expendi another twelve months to complete. The ture will soon bear fruit. When the new disputed; in one the figure of a palican row the game is between Joiner Restall

the left, and in the other to the new pump house which is common to iron, brass and steel foundry, overhead on the engraved title-page is turned to and Ng Szo Kwong.

electric cranes and nil the necessary There is here the fuckimile of the former, our present No. 1 and the new Lock, A alwaat completo, and when the electric equipment to turn out castings economic issued four years ago by the Biblioteca

angsur une considerable saving ally and expeditiously, is in full com- Nacional, Lisbon, and a genuine copy of CARTLIGE MAY MEET FRENCH should result. The new gate house, time, mission in about three or four months the original issue

the second, bound time when the

FEATHERWEIGHT CHAMPION. house is in vellum. new pune, office and watchmen's quarters are ready, as is will soon, be; and when the of

Close to this is an example empleted, and form a suitable entrance electric pumpshire is use, which will Lusindas," by

Spanish translation, by Benito Caldera, 1880, And

Provided that no unforeseen hitch to our main establishment.

result in considerable savings, the money other editions in Portugues and Spanish, crears in the arrangements, which as The new block of houses for our are expended on these three important works as well she copy of Sir Richard now well on the way towards ratification, pesan 'staff referred to last year, is now

will be productive. It is with consider. Fanshaw's translation, the first to ap- Hongkong boxing enthusiasts will shortly complete and fully occupied."

able pleasure that the shareholders learn pear in English, 1655, to which were ad- be able to witness a match between

Prince. Camoens

Heary C.P.O improvements at smopolitan that the improvements at Cormopolitan ded portraits of.

Jim Cartlidge, Lightweight. Dock, which included a tertiu expendi- Dock are now complete, rendering the of Portugal, and Vasco da Gama. There Champion of Hongkong, and Andre bo undefeated ture to make this establishment suitable place thoroughly up-to-date in every way, is a remarkable series of the works of L. Dupre, leser Rad us for undertaking work of a special nature and suitable for undertaking werk of a de Resende (1498-1573), the Portuguese Featherweight Champion of France. for H.M. Navy, are now complete, and

historian, whe exercised a great influener this place is now thoroughly up-to-date

on the writers of his time; in one of his Latin poems, "Vincentius Levitä et. in every way.

Martyr," Lisbon, the

The

the

of

Mr. J. Brouk, manager of the Hong- kong Boxing Association, informed the Daily Prena yesterday evening that

special nature for His Majesty's Navy No less gratifying is the news that all our shipbuilding yards during 1924 were, Another item in the accounts to which as they are now, fairly well employed, bite here sicurs the word be a cable had bom received from Dupré, whi

which has set at rest the inexplicable which Camoens, made famous. There are I would call your special attention, is the remour that has been circulating during also here many other first editions in amount of $200,000 which has been put the last twu or, three weeks that most of early Portuguese literature bearing more lidge, but ranking certain, maggestions a

Inside tú rover a doubtful debt contracted

or less directly on

is 19 This was due to the unexpected our yards were empty.

I agree with the remark of the Directors time. death and subsequent insolvency of an old and valued client of the Company's in

that the sum of $14,000,000, which stands Rangoon, whese docking and repair work in the Company's books as its assets, is a low estimate of their actual value. The we bad carried out for a number of years Steps have been taken to recover some of this amount from this estate, but your Directors have thought it wise to make provision for the whole of it. No allow year, as all your properties are already ance has been made for depreciation this well written down below their replacing

cast

finost · necessary.

is at present in Saigon, expressing th Frenchmanis willingness to meet Carl-

Mr. arrangements. Camoens and his to the fancial

Brook added that he regarded the matter. as Biled, and that he experts that Dupré will sail for Hongkong almos immediately, and sign articles on arrival,

The contest will probably take plac within the next few weeks. Dupré Ita n notable boxing record, and is stated to have knocked out Batting Key, a boxer who has been seen in the ring in Hong-

fact that since 1916, $12,000,000 alene has the future, is a sound one which, I von- tions to our various properties, not to been spent on improvements and addi Lure to predict, will he justified in the no distant future. With these few re- speck of the $5,000,000 written off far marks, gentlemen, I beg to second the

that the amount so put down is far too depreciation, and nearly $4,000,000 trans adoption of the report and accounts as ferred to Reserve, proves conlusively presented.

koug. No questions were asked, and the pro- cautious and conservative an estimate.

posal was put to the meeting, and carried. Mr. JOHN ARNOLD proposed and Mr.

I have no doubt that a large number

CINEMA NOTES.

WORLD THEATRE.

Our shipbuilding yards during 1924 were of the shareholders agree with the deci C. B. BROWN seconded the re-election of and are fairly well employed, which is sion of the Directors to pay off the de- Sir Robert Ho Tung and Mr. Allan

"Temptation "*

seven-reel super bentures at the end of 1025, and to in- Cameron to the Board of Directors. This

production in showing at the World Now, gentlemen, some of you may wish crease the ordinary share capital of the was carried. to ask questions about this continued Company. The money which is now being:

Mr. CROUCHER proposed, and Mr. Hay-Theatre to-day. In the cast are Bryant capital expenditure. so I had better try paid as interest on debentures and loans, MUND seconded, the confirmation of the Washburn Eva Novak, June Elvidge, Vernon Steele and Phillips Smalley- and make the position clear to you. Since would then be available for payment as appointment of Mr. B. D. F. Beith, Mr. the year 1916, we have spent auproxim- dividend on the new share capital, The T. G. Weall, and Mr. H. P. White This Tomorrow will be the film's last show ately $12,000,000 on improvements and shareholders, however, hope that the was carried. Mr. B. D. F. Beith is to be and cinema-goers are advised not to miss such a good picture together with Jack additions to our various properties. Im Directors will so call up the new share Chairman for the year 1925, provenients in hand to which we are com capital as will make it possible for all Lawa, Binghup Matthews and Messrs.

Mr. DA SILVA proposed that Messrs. Dempsey's fighting-series,

QUEEN'S THEATȚIE, that period we have writtes off for de- shares, and they are confident that their rected auditors at a remuneration, of que settings, thrills, humanity all thes Kelodrama, pathos, romance, pictures- Smyth, Seth & Fleming be re preciation about $5,000,000 and have paid interests will be protected by the Direc shareholder over $7,000,000 in dividends, tors.

requisites are found in The Rosary,” $1,000 ench. Mr. GUTTERRES seconded,

now showing at the Queen's Theatre, Hand in addition about $1,500,000 in depen-

The shareholders also express the hope and the proposition was carried.

Those present were:-Mr. H. P. White and make it a wall nigh perfect achieve- ture and bank interest. During the same that, in view of these hard times and keen (Chairman, the Hon. Sir C. P. Chater, ment of its kind. Lewis Stone playe period the Company transferred to competition, the management will in Mr. B. D. F. Beith, Mr. Allan Cameron,

Father Brian Kelly, and makes him Reserve Account 23,800,000, which sum is all invested in the properties; nod there.

fature exercise the strictest economy far. T. G. Weall (Directors); Mr. R well-balanced character, neither too re-.. all directions, be the expenditure large Dyer (Chief Manager); Mr. EL. Hosie mote nor too worldly, June Novak has fare is not available ni a dash asset. " or small, consistent with the eficient (Becretary); and the following share just the touch of spiritual gentleness

working of the Company.

holders Messra, Chau 5iu Ki, J. Arnold, needed for Vera, and Robert Gordon is

mitted amount to about $750,000. During the shareholders to take up

For about the past three years, these improvements have bech paid for out of borrowed money, and the amount of this at the end of 1924 was about $4,000,000, on which interest Eas to be paid You will observe from the accounts that the amount paid in interest for 1 was 2287,000, which is more than we sie pay-i ing the shareholders in dividends Out

the new

In conclusion, speaking as one who has C. B. Brows, N. V. A. Croucher, E. Man admirable selection for young Brven always taken a keen interest in the deveRaymond, Ng Siu Sau, J. M. Alver, Wilton. Wallace Beery handles" the lopment of the Colony and in its indus-M. N. da Silva. E- Abraham, A. A villain's role with a nice sense of its tries, especially, its shipping, I bold the Gutterres, J. H. Ruttonjec, Chu Wun gradual depelopment. Eugenie Besserer, view that the policy of the Directors to Man, X. Tsutsumi, Kelly Bayce, A. H. M. Dore Davidian, Mildred Jane and other keep abreast of times and to prepare for da Silva, H. Birkett, O., Kitchell, T. Ewell-known players complete a carefully

Poarco, AA Alves, and R. E. Desal chosen that. (Continued on next Column), -

1