1926-03-26 — Page 3

Page

THE UNITE) ASBESTOS ORIENTAL AGENCY, LTD.

1, Queen's Buildings.

Tal. Contra? 236.

SOLE AGENTS FOR

BELL'S UNITED ASBESTOS CO. LTD..

MANUFACTURERS OF

"Vistor Metallo,”. “Dagger,”. “Quadruple-" (and

*Resfer" Faokings.

Bell's Asbestos Compositions.

“Salamander" Engine & Öylinder Oils.

"Salamanderite Jointing."

ANCHOR BRAND

PURE MANILA

ROPE.

*THE CORDAGE YOU CAN TRUST:"

MARINE BOPE

TRANSMISSION

OF POWER BOPE

UABLE LAID

HAWSERS

WELL DRILLING

CABLES

ESTABLISHED· 1854

BUFEN OF ALL

YNCHAUST

ROPE

FACTORY

MANILA

BIZES FOR ALL PURPOSES

MADE FROM PURE MANILA HEMP

THE SONGKONG DAILY PRESS, FRIDAY MARCH 26TH,

MANUFACTURED

t:

BY THE MOST MODERN MACHINERY.

STOCKS ON HAND OF ALL SIZES ENQUIRIES SOLICITED.Į

FACTORIES-MANILA, PI

KING'S BUILDING. CENTRAL $165. TELEPHONE

HONGKONG OFFICE:

ל.

THEATRE ROYAL

(CITY HALL), HONGKONG.

R. B. SALISBURY'S "'QUAINTS." (Under the Distinguished Patronage of His Excellancy The Governor.)

TO-NIGHT, FRIDAY 28th. THE GHOST TRAIN.”

SATURDAY 27th. "THE UNFAIR SEX.

SATURDAY 27th. Special" Matinee at 4.15 NO, NO, NANETTE."

Book at MOUTRIE'S.

Prices $4, $2 and $1. (Limited)

THE WARM WEATHER IS HERE.

"

AND BATHS.

GAS FOR COOKING SAVES TROUBLE. SAVES TIME. SAVES DIRT.

All the latest Gas appliances can be inspected at the Hongkong and China Gas Co's showrooms, 26, Des Voeux Road Central and West Point.

A.P.B.

SOUTH CHINA KNITTING FACTORY. THE MOST MODERN KNITTING FACTORY IN HONGKONG.

Exporters of Highgrade Cotton Socks are invited to Send for particulars before dealing elsewhere

OFFICE AND FACTORY CABLE ADDRESS:

FOR EUROPE AND AMERICA, INDIA, AUSTRALIA, ^'&c. Comprehensive and Complete Report

of the

NEWS OF THE FAR EAST La giron in the HONGKONG WEEKLY PRESS. with which is incorporated THE CHINA OVERLAND TRADE REPORT.".

Subscription, paid in advance-$13 per annum for delivery in Hongkong, including Postage to any part of the world#2#,

MONGKOK, KOWLOON K.SK SOUCHIKNIT, HONGKONG.

AP.B.

You

are invited to inspect our Stock of Asiatic, Foreign and Colonial POSTAGE STAMPS

IN SETS, SINGLE, PACKETS, BAGS AND IN APPROVAL-

SHEETS

GRÁCA & CO. LAZARE IN FOSTAGE STAMP, PRIATELIC

Goods, PICTURE POST GADA, Tera, &c. No. 10, WYNDHAM STREET, PO. Box No. €20, HONGKON G.

COMPANY: MEETING.

HONGKONG ROPE MANUFACTUR· ING CO., LTD, FEARS OF BAD YEAR REALISED.

NO DIVIDEND RECOMMENDED J The forty-second ordinary annual meet ing of shareholders of the Hongkong Rope Manufacturing Co., Ltd., was held at St. George's Building, Chater Road, yesterday for the purpose of receiving a Statement of Accounts and the Report of the General Managers for the year ended December 31st, 1925, and electing A Consulting Committee and Auditors.

Mr. R. G. Shewan was in the chair and others present were the Hon. Mr. P. H. Holyonk, Mr. H. P. White and Mr. Allan Cameron (members of the Conmelting Committee), Mr. J. Coulthart (Secretary) and the following shareholders,-Messrs Kelly Sayce, D. W. Muston, M. A. Figueiredo, J. Toppio, A. L. Shields, W. Shewan, C. H. Osmund, F. Tavares and A. A. Botelho.

The Secretary having read the notice convening the meeting and the Auditors report,

The

The CHAIRMAN said:-Gentlemen,-P now lay before you the Report and Accounts for the year which closed on 31st December, 1995, and as copies of these have been in your bands for some time past I will with your permission take

them as read.

When I addressed you about 12 months ago I said I could not speak optimisti- cally about the prospects for 1925 and I am sorry to say that as you will have seen. from the accounts my fears have been fully realised. The profit from sales of Rope is $50,475.56 and we collected $19,883 21 in renta During Depreciation 821,005.05, Interest paid $29,581.14, Con- sulting Committee and Auditors' Fees o, the Profit for the year is reduced to $94,773.99. Under these circumstances we regret we cannot recommend the pay ment of a dividend on this occasion. In

all our markets we have had competition

to temporary loan and inconvenience but they are fundamentally unsound. They are like bouses built on the asnd which we are told cannot last. It will pass like everything else in this world. and soon be forgotten, but until it does we must try to put up with the day of smaller things

I now beg to propose that the Report and Accounts na presented be adopted. and passed and that the balance at credit of Profit and Loss Account of 8313,347,00 be carried forward to next year's ac count. When that has been seconded I shall be pleased to answer any questions from shareholders.

Mr. A. P. WHITE seconded.

A SHAREHOLDER'S QUESTIONS.

Mr. KELLY SAYCR: Mr. Chairman,- Can you tell me how much it is going to, cost us more in cash on our new building

Kowloon 1

The CHAIRMAN: I have just told you in the speccha

Mr. KELLY SAYCE: We have, spent 8321,000 and it is estimated that it will take about the same amount to complete the factory,

Mr. KELLY SATCE: So we shall need a loan from the bank 7

The CHAIRMAN: We have the call to come in.

2.

Mr. KELLY SAYCE: But we shall be

paying interest?

The CHAIRMAN: No, we shall do the same as before..

Mr. KELLY SAYCE: The building of the Chinese houses on our old site cost us 8500,000, and brings us in 819,000-not enqugh to pay the interest?

The CHAIRMAN: Yes, but we hope that that state of affairs will improve.

Mr. KELLY SAYCE: Don't you think it Wes a mistake to build Chinese flats and remove our factory to the main- land, increasing the capital of the Com- pany with the result that we are landed with a lot of empty houses and a big overdraft with our bankers, and we shareholders have now to whistle for our dividend?

►

The CHAIRMAN: We can all be wise after the event.

Mr. KELLY SAYCE: If we had known what was going to happen we should not have done these thing. It was at the shareholders' own request. It was pro posed by the shareholders themselves and not done by the managers themselves.

1926

QUEERS

SUPER

TO-DAY & TO-MORROW.

MONNA

WITH SPECIAL MUSIC

CONTINENTAL VANNA"

PRODUCTION:

FOUNDED ON

MAETERLINK'S famous play.

SCENES: VENICE-FLORENCE-PISA 20,000 PERFORMERS,

THE STAR

TO-DAY & TO-MORROW. VICTOR MOLAGLEN

да

"THE HUNTED WOMAN” FOX SPECIAL FRODUCTION.

Watsons

THE WORLD

TO-DAY

Ar '5.15' & '9.15 Omr.

FLORENCE VIDOR AND ALL STAR CAST

"THE MARRIAGE CIRCLE."

NI

INVESTMENTS.

WE BUY -

Cements (combined) New Engineers Hkorg. Banks

Malakoffs

Steamboata

Jimas, Jerams

Malaka Pindae

Electrica

Ferrics

WE SELL —

Hkang, Amusementa Lane, Crawfords iTrams

No Lot Too Small No Lot Too Largo.

Constructions Union Insurautos' F.&O. Banke

Luna Fanbs Rembian Tin Shares

HONGKONG SMALL INVESTORS SHARE & REAL ESTATE CO.

10, Des Voeux Road.

"

Tzt. 4530.

Mr. KELLY SAYCE: Do you consider the locality suitable for our business and an improvement on our present factory

The CHAIRMAN: Certainly. We would HONGKONG STOCK EXCHANGE, not have obtained the land if we had not thought so.

Mr. KELLY SAYCE Do you consider. the price of the land in Kowloon was. cheap"},

The CHAIRMAN: Yes, it was consider- ed cheap at the time.

CLOSING QUOTATIONS.

such as we have never before had to con- tend against, Factories in Manila can find a good market in the United States, as their shipments go in free of duties which, as regards shipments of Rope Yarns from here, have just been fixed at 40 per cent, ad valorem; that is, of course, a very heavy handicap for us As there are four factories over there you will appreciate that we have had a hard atruggle to meet artificial competition. The political trouble at Canton which affected all our shipping customers was Mr. KELLY SAYCE: I think I am ex- naturally reflected in our local sales pressing the views of a large number. of which for the last ball of 1925 show a sbareholders when I say that the Com- marked falling off as against those for pany should take the first opportunity the frat aix months of that year: Saier to get out of the property business and abroad also showed the effect of the com- leave it for the land company, and let P.&0. Bank. petition I have just referred to. In face this company just continue to make East Aria Bank. of all these adverse conditions it is not ropes, which had been a very profitable surprising that our total deliveries for business since the Company started. 1925 show a reduction-of over one million

Taare being no further questions the pounds and our net profits from Work-report and accounts were adopted. ing Account are down to 850,478.60 an against $100,744.04 in 1924.

The price of Manila Hemp as usual Auctuated greatly, the quotation for the grade mostly used by us went from Pesos 35.00 per "picul in January down to Pesox 23.50 in June when it began to riso steadily again closing at the end of the year at Pesoa 33.00 per picul..

Our Investments are now all disposed of, the last sold leaving a profit of 84,032.25 as shown in the Profit and Loss

Account.

OTHER BUSINESS.

MARCH 251, 1926.

$1,055 nom. Hongkong Bank.........

Do. London.......£125 nom.- Chartered Bank.....

€21) nomi. £30 buy

Marcantile Bank. A & B..

Do.,

Chaton Insurance...... China Underwriter.....

North Chins Insurance Union Insurance Yangtane Insurance ........ China Fire Lisurance ..... On the proposition of Mr. D. w Hongkong Fire Insurance

Dongleson * MENTON, seconded by Mr. M. AE.E O. & M.Steamboate FIGUEIREDO, the Hon. Mr. P. H. Holyoak Hongkong Tags and Messrs. H., P. White and Allan Indo-Chinas (Pret) Cameron were re-elected members of the Consulting Committee.

Mesars, Percy Smith, Seth and Flem- ing, and Messrs. Linstead and Davis were re-elected. as auditors at & remuneration of $300 each, on-the proposal of Mr. KELLY SAYCE, seconded by Mr. J. TOPPI

The CHAIRMAN: That is all the busi- ness of the meeting, gentlemen, and I am very much obliged to you for your attendance.

Da (Def), Shell Transports Star Ferries.... Waterboats....... Oriental Navigations: China Suga.... Malabon Bugam Bengueta........ Kain Mining Ad.. Langkate (combined)

(mingie) Shanghai Explorati Shanghai Loans

The returns from our House Property have been most disappointing owing to the great exodus of Chinese during the strike. At the beginning of the year there were 64 flats Eully occupied, but in July the demand for these quickly fell off till at the end of the year only 30 fials were in occupation Rents were of course reduced and our 28 'Houses which when fully occupied in normal times should bring us in about 850,000 per annum at the rates we were obtaining be-

Messrs. Carroll Bros. yesterday receiv.: Shanghai Doals.. fore the strike, are now only yielding used cable advices from Singapore that

HE 8. Hotels

BINGAPORE RUBBER SHARE QUOTATIONS.

Ural Carpians

HE. & K. Wharta.. R.K. & W. Docks

elet bay.

£94.nom.

379 buy.

... 820 buy.

[125

BY ORDER OF THE MORTGAGEE:

PUBLIC AUCTION

OF

THE VALUABLE LEASEHOLD PROPERTY Situate at Kowloos Cry in the Dependency of Kowloon and Colony of Hongking and registered at the Land Office SUB- SÉGHONE 1 AJD % of SECTION A ́œÊ ̧ -- NEW KOWLOON INLAND LOT No. 132 with the Premises thereon now known ́s Nos, 60 azn 81, SAI KUNG ROAD.

IN TWO LOTS"

FT

MERA. LAMMERT BROTHERS, AT THE SALIKROOM,

No. 5, DODDALL STAKET, HONGKONG,

ON T

· MONDAY, 183 29TH DAY OF MARC

AT 3 O'CLOCK PIM.

nom. Tie. 145 nom.

$284.l

$49+ nom. 5165 by.

6570 bay.

28 buy.

324 buy

дот.

.88/6 buy.

OF TO:

1116 DO

250 nom.

ssl...

$19 nom.

1.80 noma. 42/6 bay.

Tha. 26 buy. The 11 buy. Tin. 5 sel. Tis. 7 nom.

$5 buy.

61/ bay. Bf. Dom.

$1874 bay., 130 sol. $63 nom The 180 buy. Tix, 5 buy. Th. 100 Eur.

a total rent af from 88,000 to 88,000 per rubber is now quoted at $1.05 per lb. Hongkong Lands annum. But when we have shifted the and that the Bukit Katil Rubber Estates Haughing Hositys (a.p.).....153 old plant to Kowloon we shall have have declared an interim dividend of 4 HR Territories (f.p.).......... sel.

have site for 123 houses, of which only

Allenbys y

Building.....

Ewo Cottens ̃.........nöo Orientals die wy Bhanghai Cotiens (old)

Do.

been built, in one of the most congested per cent. The market all round is Humphreys Metales. parts of the town standing in our books stronger. The following quotations were Prince given at the low valuation of 85.50 per foot and which in normal times will certainly bring us in a large return, Rope busi nesa "may be dull at present and house property depressed, but Hongkong will weather this storm as it has done many others, for I remember the day when houses at the Peak could be lived in rent free, and better days will surely come for this and all other industries in the Colony..

Work.at the New Factory in Kowloon has, of course, suffered from the prevail ing conditions in the Colony, money and labour both being scarce. On Buildings we have spent.8321,037.43 and we estimate it will take about the same amount to complete the Factory. For New Plant for this Factory we have spent $100,123.22 the principal items being —

Rope, Spinning and Waste Machiness Electric Motors and Trucks Shaftings and Workshop Machines Against this expenditure we have the Final Call of 85 per share due-on 2nd July, 1926. But we must not let our- selves be too depressed by the Statement now presented. We are going through an abnormal state of things brought about by the short-sightedness of people in power who do not realise that attempts to ruin their neighbours, only recoil on themselves and that the trade of Hong- kong will continue to expand and prosper no matter what part. Canton may take in it. Such attempts to injure us as this boycott at Canton may put the Colony

Alor Gajahs..... Amalgamated Malays Ayer Moleks Ayer Panas ...Balgownies.

Bassetta

Brogas

Bukit Jelutongs

Indragiris

Jerams Jimabs Kedahs

391 buy

buy.

buy.

**$100 nom.

Ti 9.40 nom Tls. 3.nom. Tla, 6400l. Tis. 28' sol $11 bay. ..it nom. ...$13 buy,

3124 buy $1.90 nom. Th. 10) buy. ...$21 nom.

$15

19,10 now.

$20 sal.

Straits.

$3.40

2.70

4.50

(new)..

Amusements

3.10

Canton Ices

14.00

Cements (combined)............

5.00

Do.

1.55-

Do.

1.85

China- Buses

1.40

Chine Tights (combined)

Bukit Katils **

1.45

DU

(old)

Changkat Serdangs ........

9.30

Doi

(new)..

Connemaras

2.60

Glenealies

9.65

"10.00

China Providenta Constractions i Dairy Farms

1.90

-2.45

Der & Wing (Ep.) Hongkong Electrica

4:76

Miscão Electrica ...

Kempas

10.75

Kuala Sidims

4.00

Lunas

*4.50

H.K. Developmenta HK Ropes (oszabined)

(old) Do

got nom.

Malaka Pindas

3.60

Malakoffs

4.80

Mandai Tekongs Mayfields

0.95

15.00

Mentakab, New Serendahs Pajamas

0:70

£78

Peak Trams (old)

Do.

14.50

BinoGrou

$11 Dom

1:45

Sandycroits

4.00

Scudaisies

3.65

United Asbestos Limo Wfstemme (old)!

90 nom.

bay.

Sungei Bagans Tapaht

$4.80

P Do. (DeW}]; i***

buy.

29:00

Tambalake

1.45

Teluk Antons

15:00

United Malaccas

3.10

bay

Utan Simpana

4.00

Punggors

For further Particulars and Conditions of

Bale, Apply to:

MISS, WOO & NASH,

Mortgagee's Solicitors,

Bank of China Building, Queen's Road Central,

Yz8833. LAMMERT "BROTHERS,

Auctioneers,

No. 6, Daddell Street.

Dated the 10th day of March, 1926, (8359.

MARTIN'S

PILLS

APIOE & STEEL Sureandcertain for all Female complaints. Every lady should. keep a box in the house.

Chemists and Stores sell them throughout the world.

Proprietors.^. MANTIA, Chescht, Southkatyten: England,

THERAPION No. THEBAPION NO. THERAPION "No" 3

No 1 ke Zladder Osimerkin To. 8 for Wood & Mia a. phases. Fo. E for Braila Wacknames, – 153 ST LEADING DEVERAL DIJON DE MAILLED, Es. DS. IN OL MC Havazmock Bd. "N.W,&, London, JAN FREI 90, Bexxxax Bu, Haw To Gm7,00, 42; Hast Butans, Kay Thanomet.

Do..

(LOW) Hongkong Telephones

Hongkong Tramways

Lans Ozawfords........ Mackintosha

10 nom.

574 bay,, 59 sel, 28 25.

1.840 nom

26 at 0.

$30 sol.

1231 buy sily buy

$10% buy.

VISITORS TO CANTON,

Should Purchase

A BOOK FOR THE GLOBE TROTTER

FOR HONGKONG TO CANTON

BY THE PEARL BIVER

EX

CAPTAIN C. V. LLOYD With Illustrations, Maps and Flags

Wm. Powellsoon.

Singapore Tractiona

PRICE

$1.75

On Sale at

Hongkong: " DAILY Pass? Office.

Messrs. KELLY & Wien, Lid "Messin, Butwan & Co.

Messrs. A B. Fázson & Co.

Canton: