1925-05-22 — Page 4

Summit

Batisfaction in soft collar wear is assured to the man who uses "Summit" soft collars.

Materials, cut and making main- tain the same consistent standard as in the stiff-dressed "Summits" and in fact the only essential difference is this-in the final stage of laundering the starch is left out.

MACKINTOSH

& CO., LTD..

-Alexandra Building, "Des Voux Road."

SOFT COLLARS

SHAPES 66 AND 96.

PICNICS.

THE POLO SHAPE SHOWM IS STILLED IN PLAIN FABRIC WITH OR WITHOUT PANİKOLEN AND INSTRONG 'NQUE WITH PINHOLES,

PRICE-$7.00 A`DOZEN.

THE HONGKONG DAILY PRESS, FRIDAY, MAY 22ND). 1925,

The Picnic Season is already on and well advised people who They know we want to make their picnic a success come to us. always_carry_a_wide stock of so many different dainty delicacies together with the best wines and liquors. A picnic basket is com-- plote and perfect when made by

MAGASIN GÉNÉRAL,

Phone 3312

The Corner Shop,

Beaconsfield Arcade.

₤101

CAMMELL LAIRD & Co., LTD. Controlling THE LEXUS FORGE CO., HEYLAY WHEEL CO., É. Birkenhead, Shameld, Nottingham, Birmingham. Leeds. Penistone and London."

STEEL OR WOOD FREIGHT & COAL CARS

【 PRESSED STEEL TRUCKS

"FOX"

{

AND

CORRUGATED FURNACES. 13. PEKING ROAD, @HANGHAI.

riz 53.

VAN HEUSEN COLLARS

Er

MORE COMFORTABLE THAN A SOFT COLLAR. SMART APPEARANCE OF A STIFF COLLAR. EXTRAORDINARY LONG WEARING QUALITIES.

NO CREASING

NO SEAMS

NO BOUGH EDGES

NO STARCHING

NO JOINTS

NO LOSS OF SHAPE

NO PIN REQUIRED

DOES NOT CLING TO NECE SAVES THE TIE SAVES. THE SHIRT

All These Points combine to make VAN HEUSEN the World's Most

f

Economical and Attractive Collar.

SOLD BT

84

THE SINCERE CO., LTD.

58

WHITEAWAY'S STANDARD VALUES

IMITATED BUT NEVER EQUALLED

THE

"MAXIMO"

BRAND

TOWEL

ONE OF

WHITEAWAY'S STANDARD VALUES

THE "MAXIMO

"TOWEL

MAXIMO TOWELS are made expressly for and are obtainable only from us. They aro of bent: Manchester maske of stout, quality ootton and Turkisti finish. Abworbent and excellent in west, An excellent bathing towel

Su-51BY 28 INGRES

STANDARD

2

VALUE $1.35 EACH

PRICED

MAXIMO BATE SHEETS are made in exactly the sazie way as the Towela. These Bath Sheets are the best value obtainable. in the East To-day-

Sizz-72 B 46 recuzi. --

STANDARD

11

VALUE $3.50 E

PERCED

NEW CRETONNES.

We have just received a huge consignment of New Orciozner, Tissues, Repps, and shall be pleased, to send range of Pattern and give estimates for Loose Covers, Curtains etc.

PAY A VISIT TO OUR FIRST FLOOR SHOWROOM.

WHITEAWAY. LAIDLAW & CO., LTD.

HONGKONG.

LEGISLATIVE COUNCIL.

TRANSFER OF TELEPHONE UNDERTAKING.

HON. MR. ALABASTER CRITICISES THE RESOLUTION.

RENTS RESTRICTION AMENDMENT. ORDINANCE.

ATTORNEY-GENERAL EXPRESSES HIS PERSONAL VIEWS..

A meeting of the Hongkong.Legislative Council was held in the Council. Chamber yesterday afternoon. Present: His Excellency the Governor. (Sir R. E

STUBS KC.M.G.).

His Excellency the Officer Commanding

the troops (Colonel F. S. MONTAGUE BATES, C.B., C.M.Q., D.S.0.) The Colonial Secretary (Ion Sir. GLAUE

SEVEEN, K.B.E., C.M.G.).

The Attorney-General (Hon. Sir HENRY

POLLOCK, K.C.).

The Colonial Treasurer (Hon. Mr.-G-Mel-

Messen, QB.E.).

Hon. Mr. H. T. CRLAST (Director of

Public Works).

Hon. Mr. D. W. TRATMAN. (Secretary for

Chinese Affairs).

Hon, Dr. J. B. ADDISON. M.B.E. tipal Civil Medical Officer).

Hou MrFF FOLYCAR

Hon. Mr. 4. O LAND.

Hon. Mr. CнOW SHOC-SON.

Hon. Mr. H. W. BIRD.

Hon. Mr. R. H. KOTEWALL..

(b) $108 within a radius of one mila from any exchange that may, here" after be opened outside the areas referred to in....(a).

(e) An additional charge of $50, par measured mile or part of a mile outwards from the nearest point of the boundary of the areas re- "ferred to in (a) and (b).

(d) For extension telephones, bells, switches, switchboards. power- eirenita, removals, and other set. vices of like nature. such charges as the Governor in Council may approve.

9. Should the charges above referred to be insufficient to pay to the share. holders of the Company a minimum dividend of eight per cent. per annumi (Prin-n the paid-up capital of the Company' for the time being after making prev.. sion for maintenance and efficient ser vice depreciation, reserve er sinking fund and managing expenses, the above zates shall be raised so as to enable the sharehokiers to receive a minimum of eight per cent per annum after making the aforesaid dedactions.

Hon. Mr. C. G. ALAMISTER, K.C., O.B.E. Mr. A, G, M. FLETCHER, C.M.G.. C.B.E.

(Clerk of Councils).

MINUTES:

The net profits of the Company after providing as aforesaid shall be used" firstly in payment to the Government

The minutes of the Inst meeting of the of royalty of four dollars in respect of Council were approved and signed.

P.PERN.

The COLONIAL SECRETARY, by command of B.E. the Governor, laid on the table the following papers-

Report of the Police Magistrates Courts

for the year 1924.— Report of the Colonial Treasurer, far

the year 1994 ( Orders made by the Governor in Coun- cil under the Rents and Rating Ordinances.

FINANCE.

The COLONIAL SECRETARY, by command of E.E the Governor, laid on the table Financial Minutes. 18 to 20, and moved that they be referred to the Finance Com

mittee.

.

The COLONIAL TREASURER seconded, and the motion was agreed to..

The COLONIAL SECRETARY, by command of HE the Governor, laid on the table the Report of the Finance Committee (No. 2) and moved that it be adopted.

The COLONIAL TREASURER seconded, and the motion was agreed to.

'M

THE TELEPHONE UNDERTAKING. TRANSFER TO NEW LOCAL COMPANY APPROVED.

KAIPING HOUSEHOLD GOAL

Fu Lots of nat

less than

ton:- Delivered to Peak District (above Bawen Road), $21.00 per ton. Delivered to Bowen Road and Lower Levels, $20.00 par ton.

Delivered to

Kowloon,

$19.00

per tan.

Orders should be sent in writing at least 24 hours, before the Coalls requir ed..

All orders: must be ac companied by Dash, Choque, or. Compra- dora: Order: payable

**The Hallan

Mining Adr ministration:""

THE KAILAN MINING ADMINISTRATION,.

Head Office:TIENTSINA

DOD WELL & CO., LTD., Agents; Hongking.

HIS MASTER'S VOICE RECORDS

IOLANTHE.

PINAFORA

MIKADO.

PETROUCHKA BALLET MUSIC..

JBJ

Complete: opera, în album. By D'OYLY CARTE CO. Complete opera ́ in, album." As popular now as at its first inception.

Complete opera in album. Its tunes are familiar but never stalu

Stravinski's

that will thrill you.

emotional

effort

LTD

[117

S. MOUTRIH & CO.,

each direct. exchange line telephone which has been used and paid for during the hole previous twelve months hya hana fide telephone, subscriber or one- Dollar per direct exchange line tele- phone for each period of three month's January last and after protracted nego There he at present. It certain number

urless.

There are mumber of points of detail which remain to be settled and these will be set out, in un Ordinance which will shortly, he introduced in this Council..

12. The said net profits shall second: tiations he and Mr. Taggart signed a of subscribers in Victoria who are toore I he applied in payment to the share-provisional agreement embodying most off than one mile from the present exchange holders of the Hongkong Company of the terms that are set out in the resoly, who are paying a higher rate than 4. the minimum dividend of eight per cent. tion The Government was not a party but, it is not proposed 10 require these definitely to commit the Colony without, $108, when, the new Company begins to per unum rising to twelve, per cent.. to this agreement as it was not prepared subscribers to pay more than a rate of

operate... per annum.

L-In the event of the net profits. the consent of the Legislative Council. execeling twelve per cent. per annum The Government has been in close touch ther as

as to the difference between twelve in this matter with the two Chambers per cent. and eighteen per cent, half of Commerce who have concurred in the thereof shall be distributed to further arrangements which have been provision dividends and the remaining half hy way ally made and in the terms of this resolu of reduction of the subscription rates tion, and I now propose to go through the dividend payable to shareholders such of its terms as require explanation. being limited to a maximum rate of In doing so I would observe that the object of the Government throughout has fifteen per cent.

been to safeguard the interests of the public and to ensure that the direction of the Company will be entirely in the bands of local directors.

14.Any additional surjus, shall be used solely for the reduction of sahsurip tion rates.

I think that honourable members will agree that the proposals are entirely satisfactory from every point of view and that this. new public utility company will embark on its carcer with every prospect of rendering efficient service with due regard, to. public interests.

I cannot finish without expressing the The names of the first directors in high appreciation of the Government for n the Resolution, are as the services rendered by all those who

15. The rights and obligations of the Government and of the Company shalt he set out in detail and embodied in a Clause bill which shall be introduced as soon as follows: Mr. Holsonk, Chairman of the have worked to bring this matter to General Chamber of Commerce, Chair a satisfactory conclusion and I wish may be in the Legislative Council

The COLONIAL SECRETARY Ad-Siman, Sir Paul Chater, M. Taggart, particularly to mention the work done In moving the Resolution which stands in Father Rabert, Mr. Chow Shou Son, Mr, throughout "the negotiations by Mr. in having, during the latter part of the Harston. my name I propose to refer quite shortly Kotowall,, Mr. Shewan and Mr. Scott Taggart. The promoters were fortunate. to the negotiations which took place a

few years ago between the Government Under Clause the two directory, negotiations, the pretence of Sir George of Hongkong and Mt. Parker Jess repre. nominated by the Oriental Telephone and Gibb in the Colony, a gentleman of wide. seating the China and Japan Telephone Electric Co., Ltd., are Mr. Holyoak, any experience and high standing in business These negotiations Mr. Taggart. The shares of the Company circles. The Government has been ably The COLONIAL SECRETARY moved the and Electric Co.

were started as honunrable members will are to be distributed as follows:-250,000 represented from the earliest stage of following resolution which stood in his remember, owing to the fact that the or 50 per cent to the general public, the negotiations by Mr. Fletcher whose Hicence of the Company was due to expire 140,000 at 28 per cent to the vendors, ability and tact have teaded in no small 130,000 or 22 per cent. to the directora measure to bring matters to a meistare name on the agenda:-

in 1930, and it was desirable that some

I, heg to move the resolution. -Such Company shall be styled arrangements should be arrive at con- Of the 110,000, 10,000 shares are to be tory conclusion Hongkong Telephone Company Limited siderably before that date, as to the allotted in payment to each director and. and it shall be registered under the tines on which the public telephone seran additional 13,000 shares o.. payment Companies Ordinance 1811,

vice of the Colony should be conducted, to Sir Paul Chater and lir. Taggart, who Hon. Mr. HoLYOAK: I rise to serai -Directors of such Company (herein The matter was last before this Council are recognised by the Government as the resolution before the Council, and it after referred to as the Company) shall on the 19th October, 1009 when Mr. promotors of the Company. The shares in doing so, in view of the luid and

résident in the Colonial Secretary, I feel that he not less than four and not more than Fletcher, who was neting Colonial Secre- availablo For the public are to be issued somewhat elaborate statement made by eight in number, and all the Directors tory made a full statement on the sub- only to person's ordinarily, si accord in unnecessary and indeed would, be shall be hung fire resident in Hongkong.ject of the Telephone. Company and of Hongkong and to be

ed shall be

il

(a) $1,155,000 for the plant. (b) The landed cost of additions to the

plant and property between the Ist" January and the 30th June, 1995. (e) 8491,35 (or land and buildings. (d) The value of stores in hand or contracted for on the 5th June

Which considération ahall, be met, as

-The Oriental Telephone and Electric the negotiations which had taken place ing to the practice prevailing in Eng- superfluous for me to dilate upon, that Company Limited, during such period as from March, 1920, onwards and a resolu- land, with the exception that a reason, which he has said so forcibly. This re- it holds not less than 100,000 fully paid tion was unanimously adopted to the abic quota of shares will be act aside solution is the conclusion of five long shares in the Company, shall be at i-effect that no new agreement should be for a small allotment per exchange line years of dificult negotiation to procure herty to nominate two Directors, provid-entered upon with the China and Japan to individual telephone subscribers. The a better telephone service for the Colony, ed always that such Directors shall be Telephone and Electric Co, less that sum of $9.30 is to be paid on the issue and we believe as a result of this it i boure fide resident in Hongkong and that Company agreed to accent certain rates of the shares to the public and direc- sow within sight. The negotiatins, as the total number of Directors shall not of subscription. These rates were to be $84 tors and in addition the sum of $1 pre- you have said, Sir, have involved for in 1992, 80 in 1923, $108 in 7024, 8114 in mium is to be charged on such shares several years past the careful, and con- exceed' eight,

1925 and $190 in 1926. The intention The present position of the money market tiquos attention of two Telephone Com 4.The capital of the Company shall of the Government was that the Com is such that the Government is satisfied mittees set up by yourself through the he $5,000,000 divided into 500,000 shares pany must in future he comicited in that the shares will be fully taken up Chambers of Commerce, to, which various of $10 each.

Hongkong and work on a dollar basis without underwriting at the premium members have given their quata during -The expital of the Company shall and in 193 the question of the purchase proposed. The effect of such premium all this discussion Not cast of them is not be increased, except hy permission of of the undertaking and the formation of will be to reduce the yield on the first one who at one time a member of this a new Company was taken up wius Mr.instalment u 5.7 per cent, while the final Council and is now unfortzaately silent the Legislative Council.

judgment helped materially towards the a-The consideration in respect of the Taggart and others. Certain proposals return when the shares are fully paid up for ever, but whose clear thought and It is proposed to inxit Messrs. Preece, position which has culminated in this acquisition by the Company of the wire put forward and were reported upon will be 7.3 per cent. undertaking of the China and Japan by the Telephone Committee of the Telephone and Electric Company Limit Chamber of Commerce and the Goveru- Cardew & Rider to send out an expert resolution. I would like to pay tribute ment thereupon authorised Mr. Taggart engineer who will study the situation on also to the ability, laet and judg- to negotiate for the purchase of the Com the spot and who will advise as to the ment shown by Mr. Taggart, whe con Until also join in paying tribute to one whom Pany for a sum not exceeding $900,000 best method to be adopted for securing ducted the final negotiations, and I will such sum not to include the land belong an improved telephone service. ing to the Company the buildings there the report of such engineer has been you mentioned, more so, because the on or the stores. In January, 1924, the received it is impossible to estimate the tribute is one which this Council cer- opportunity was taken of the presence expenditure that will be required for tainly ought to, accord. I refer to the in the Colony of Mr. Prence of the firm installing a new system, but I may say assistance rendered by Mr. Fletcher from of Messrs. Preece, Cardew & Rider, that a careful study of the figures which the earliest stages of these negotiations Consulting Flectrical Engineers to the have been produred during the last five in the very early days he resisted Government, and he was asked to examine years leads the Government to hope that encroachaicut upon the Colony's lease by to $1.400,000 in the allotment of 140,000 the position. Subsequently the firm re- it will be possible to maintain the sub- Mr. Parker Nash in the face of the fully paid shares, and as to the balance ported us to the value of the present scription rate shown in the Resolution; fact, that other Colonies had fallen down undertaking on the assumption, that it for a long time to come without, increase, before Mr Parker Ness's clever repre in 'cash,

7.The Company shall have the sole was in good serviceable condition, they more especially as the proposed presentations and the position had become right to supply public telephone ser- also reposted on the cost of matulling a mium on the shares will give an addi- very difficult to deal with. However, vice during a period of fifty years from new system in March, 1921, a draft, sional capital sum of 8350,000 for which gentlemen, this is a long story, and as scheme was prepared much on the lines subscribers will not have to provide I say it goes back over five years of continues negotiations. The resolution the 1st July 1925.

B-The Company shall, within such of the scheme set out in the resolution interest. period as the Governor in Council may except that the purchase price for the As regards the rates set out in para.before you is the culmination of this. determine to be reasonable, provide an plant was fixed at 8000,000. The inte graph-9 of the Resolution I would point discussion. It will bring, the Telephone improved telephone service to be Mr. A. B. Lowe approved, this scheme out that under sub-paragraph (b) the Company in Hongkong under the control proved by the Governor in Council. but he thought that the proposed price Company will provide exchanges as soon of a local board of Directors, who will 9.-The Company shall be authorised was too low seeing that the same figure as possible in the neighbourhood of be responsible to the shareholders in the to charge the following annual rates to had been suggested two years previously Shaukiwan, in the northern part of Colony, and I hope it will mean that subscribers, with effect from the 1st July, and that the Company had in the mean Kowloor. Peninsula and at Trips so that the telephone, system, which is to be.

time spent about £18,000 in additions to after these cxchanges have been opencil dealt within a report to be made by (a) $108" within (1) Victoria and Kow. plant. Last summer Mr. Fletcher was in there will not be many subscribers who experts brought out from Home, will loun, as defined by the interpreta London and he discussed the matter with will have to pay more than the 8108 rate bo, no improved as to result in better tion Ordinance, 1911, and (ii) with Mr. Parker Ness, and Sir George Gibb. It is also proposed that exchanges shall service for us. It must be some time in the Peak District, as defined by and it was agreed that it was to the bo opened at certain places such as yet but feel that the result will be the Peak District Reservation interest of all parties that Sir George Aberdeen and Stapley, and in my place satisfactory to the Colony I have munch

(Continued on page 6.) Ordinance, 1904, but substituting Gibb should come to the Colony to settle where the number of subscribers gatifies pleasure in seconding the resolution.

709 Iost" for "188 feet",

matters on the spot He arrived in, it?

19251-

1925.

: