1926-04-26 — Page 3

Page

"DECOLITE":

FIRE RESISTING FLOORING

(Awarded Gold Medal Franco-British Exhibition.)

JOINTLESS, HYGIENIC, & "NON-SLIPPING

Laid by Our Own Workmeu on steel, wood OR CONCRETE.

THE HONGKONG DAILY PRESS, MONDAY, APRIL 26m, 1926

THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

Fal, Central 290,

ANCHOR

3, Queen's Building.

BRAND

PURE MANILA ROPE.

1

די

THE CORDAGE YOU CAN TRUST." -

ESTABLISHED 1854

MARINE RUPE

1:

TRANSMISSION

OF POWER BOPE

CABLE LAID

HAWENES

WELL DRILLING

CABLES

YNCHAUST

ROPE

FACTORY

'MANILA.

BOPES OF AÚL SIZES FOR ALL PURPOSES

"MADE FROM PURE MANILA “

HEMP

MANUFACTURED

BY THE MOST

MODERN MACHINERY.

STOCKS ON HAND OF ALL SIZES ENQUIRIES SOLICITED

FACTORIES-MANILA,

P.I.

HONGKONG OFFICE:

KING'S BUILDING. TELEPHONS CENTRAL 8185.

Y

INVESTMENTS.

WE BUY

WE SELLA-

100 Electrica

100/1000 Providenta 1000 Glenealys.

1

500 Watsons

500 Hotels

and other Investment Shar

1000 wos

100 Steamboata

500 Now Engineers

No Lot Too Small No Lot Too Larga, 1

A.P.B.

100/500 Jemas 100/300 Underwriters 200 La:6 Crawfords 100/500 Amusements -100/500 Constrictions

.

HONGKONG SMALL INVESTORS SHARE & REAL ESTATE CO.

10, Des Voeux Road.

TL 4530.

THE WARM WEATHER IS HERE.

Li

COOKING AND BATHS. GAS FOR 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 Vœux Road Central and West Point.

SHL BUILDERS,

SHIP REPAIRERS, BOILER MAKERS, FORGE MASTERS,

OXY-ACETYLENK AND

ELECTRIC WELDERS,

MECHANICAL AND

ELECTRICAL!

ENGINEERS.

·A.P.B.

[125

--DRY DOCKS, Length 787 Fest.

THE TAIKOO DOCKYARD & ENGINEERING COMPANY

OF HONGKONG, LIMITED.

Length on Blocks 750 Fost

Depth on Centre of

Sill (H.W.0.S.T.) 84 ft. 6 las --THREE SLIPWAYS***

Capable of Handling Ships Up

8,000 Tons Displacement

Electric Crane at Ses Wall, Capablá, of Lifting 100 Tons at 70 Feet Radian

BUTTERFIELD & SWIRE,

- HONGKONG, LEUNA & JAPAN.

Agents,

TEL: ADDERAS 2. "TATEOODOCK, Hongkonɑ." TELEPHONE NO, 218,

CALL Fila: "C" ove¤" AKS. PRENANT,"

COMPANY MEETING:

LANE, CRAWFORD, LTD.

INCREASED. BUSINESS EXPECTED IN NEW PREMISES.: The fourth annual ordinary general meeting of shareholders of Messrs. Lane, Crawford, Ltd., was held at the office of the Company, Royal Building, Ice House Street, on Saturday at 11 am-

Mr. A. S. D. Cousland (Chairman) presided and others present were r W. E. L. Shenton and Mr. Chan Tong (Directors), Mr. W. A. Eustace, Mr. L. Bridger and Mr. F. M. Crawford (Managing Directors), Mr. A. W. Brown (acting secretary), and Messrs. A. Abbas, D. M. Goodall, H. A. Jones H. W Randall, H. E. Scriven and A Stevenson (shareholders),

The Secacay having read the notice convening the meeting.

The CHAIRMAN Bid:-Gentlemen,-The report and accounts have been in your hands for the prescribed period, and will, therefore, with your permission,

take them as read.

The nett profit for the year, after mak ing dus allowances for depreciation and bad and doubtful debts, is #15,800.45, which, added to the balance brought forward from last year, viz.: 824,193.93, makes the amount of 839,904.38 available

for distribution. This amount your directors propose should be allocated as "follows:-

To pay a dividend of 30 cents per shäre absorbing 837,500.00.

And to carry forward to a new as- count, $9,494.38. and I trust that this proposal will meet with your approval.

With a return to normal trading con-" ditions your directors.see no reason why the future of the company should not boj as prosperous as in the past.

That, gentlemen. I think satisfactorily explains the accounts before you.

During the past year your company has again been able to render exceptional service to the community of Hongkong. In June last, when the strike was at its height, we

were successful in dealing with the problem of food supplies for the European population. The new machinary at your bakery thoroughly up- held the opinion which your directors had previously formed of its efficiency, and, in consequence, we were not only able to supply the community of Hong-, kong (including hospitals), but also care for the wants of Shameen, as well as several small warships which had not their own facilities for bread making-

Groceries and provisions were – dis- tributed by your main and Feak stores, and I am happy to inform you that, from several sources, appreciation has been expressed regarding the way in which the distribution was organized.

'COMPANY'S FUTURE..

Our thanks are due to our European staf for the hard work done by them; during those times, and also to those of our Chinese staff who loyally worked on in the face of intimidation.

1

I will now proceed to something which, I venture to feel, is much more pleasant to consider, and that is the company's future. I have previously made refer ence to the fact that this year we hope to change into new premises. These will be situated in the new Exchange Build- ing when completed. The change, with " THE ACCOUNTS.

its. accompaniment of a certain amount Turning to the accounts, you will of new fixtures and fittings, will, of notice that the comparatively large course, occasion extra capital outlay, amount of 812,467.89-has been written but I am able to inform you that your off on account of bad and doubtful company's cash position, together with debts. This is occasioned largely by its banking facilities, is ample to deal reason" of the financial stress through with the financial part of the question which the Colony has passed during the without worry to the management. year under review. All dua precautions have been taken by the management of the company with regard to accounts, and I think you will agree with me that in such times as these, having regard been accomplished, and the new premises to the peculiar nature of our business, fare ready for business, you will own this figure is not excessivo.

what will probably be the finest depart mental store in the Far East

Another point which calls for some comment is the amount of depreciation written off. In the very near future we shal! move into new premises, and, with this in view, fixtures and fittings have been heavily depreciated," to make allowance for those which will have to be discarded on moving.

It is early yet for me to give you any idea of what your new store will be like, but I am sure I am correct in in- forming you that when the more has

I now beg to formally propose that the report and accounts of the company for the financial year ending February 28th, 102 (including, the apportionment re- commended by the directors as therein indicated), as presented, be adopted, and I shall be obliged if some shareholder will kindly second such proposal, where- upon questions as to the report and ac counts may be raised.

The being no questions, the reports and accounts were adopted unanimously.

2

OTHER BUSINESS.

On the proposition of Mr. H. A. JONES, seconded by Mr. D. M. Goopiti, Hr. M. Manuk, the retiring director, elected.

Was re-

UBEN

SUPER

TO-DAY ONLY

VERY LATEST TOPICAL NEWS OUR GANG COMEDY

AND

RICHARD BARTHELMESS

66

· IN-

TWENTY-ONE,

TO-MORROW :

IRENE RICH

IN

MY WIFE AND 1.”

THE

STAR

TO-DAY AT 5.30 & 9.15

JOHN LOWELL

IM

"LOST IN A BIG CITY."

A FEMALE MIDAS.

BEGGAR WOMAN'S TEN

SOVEREIGNS. ̧«

«An old Chingae beggar-woman on Friday solicited alms from a party of Europeans in Pedder Street, but as she was mumbling her appeal a plain-clothes constable arrested her.

THE WORLD

·TO-DAY Ar 6.15 & 9,15

COLLEEN MOORE

E

"BROKEN CHAINS."

HONGKONG STOCK EXCHANGE.

CLOSING QUOTATIONE."

Arast 24TH, 1926.

$1,105 bay. £195 nom.

Bant... Hongkong

Do.. London Chartered Bank.. Do Mercantile Bank AB £80 buy.

P&O-Bank. Bast Asia. Bank..... Canton Insurance...

North China

Insuranca

At the Police Station her tattered] apparel was searched, and ten English - China Underwriters sovereigns were found concealed in her girdle. She was called upon to hand over $10 in bail, and some of the gold had to be taken to be changed.

When she was charged before: Major Willson at the Central Magistracy on Saturday, she admitted the offence and

2

a fine of $5 was imposed."

Questioned, as to how she came by the

Union Intrance Tangle

Insurance

13

buy. £91 nom.

$86 nom 1625 buy 1.90

3953 bay.

1

$170 buy. $550 buy

bay.

once are Hongkong Fire Insurance Douglases.....$28 num

& M. Steamboat 347 nom. Hanging Tagoz Indo-Chinsa (Pref.)

(Det.) Shell

Transports Star Ferries...... Waterboats. Oriental Navigāt Malabon Sagas China Sugars...... Benguete Kailan Mining Langkats (com)

$61 bay. 15 nom 1250 nam.

$48 nom.

48/bay

nom,"

Tis: 12 buy.

Exploratio

bay.

Banb

Trunoh Mines Ural Caspiana

nom,

EK & K Whats.

buy

H.K. & W. Dock

185 buy.

6.50 buy.

108 bar

Rugiabering.

YOUNG AMERICAN KILLED IN Hong...

SHANGHAI,

MOTOR-CAR COLLIDES WITH "MOTOR CYCLE.

4.

HKS. Hotels Hongkong Lands

Hongkong Realtys (ap.).

H.K. Territoriali (£.p.).... Humphreys Fatale ... Prince Building.... Eural Lande

On the credit side of the proft and loss account it will be noticed that the comparatively small amount of 884,040,02 only is brought forward from working Mr. A. STEVENSON seconded and in do- account. As compared with last year, ing so said the results had been gold, she said that it been handed this shows a big drop, and is occasioned grettable but that could not be helped to her, for safe keeping by the god. wholly by the fact that the company was in view of the abnormal conditions, He mother of her dead son. unable to do its usual turnover. It is had the greatest confidence in the The magistrate hesitated to credit. hero. obvious that the Colony in general has management, and when they moved into story, and ordered the gold to be kept not the same spending power that it has their new premises, he felt tha their by the Police for a week, in case any

and enjoyed in previous years, and in a business would increase 13., ieaps

elaimant came forward. business like ours such a state of affairs bounds. is immediately reflected in our turnover: This year no interest from investments appears in our profit and loss account, which brings me to the only point in the balance sheet which requires explanation. You will note amongst the assets the amount of 8420,809:51 under the heading of inreatments, against which the mar ket quotation is given as 2322,620.00 The discrepancy between the book value of these investments and the market quotation is occasioned by the situation from which we, as well as all other Hongkong companies, are duffering. Your directors have not recommended that these investments be depreciated by reason of the fact that they feel that the market quotation ruling at the end of February last (that being the end of your company's financial year) was only a nominal one, and under prevailing, circumstances no fair valuation of such investments can be made. Moreover, the amount shown under general reserve is more, than ample to cover the difference mentioned.

Stocks have been estimated at, cost price and deprecisted wherever necessary." -THE DIVIDEND.

A young American named Carl Sadler, On the proposition of Mc H. E. connected with the Texus Oil Co. in SCRIVEN, seconded by Mr. A. Siro, Shanghai, was killed last week through Mesars. Linstead and Davis were re a motor-car, driven by a Chinese, collid. elected as auditore for the current yearing with the motor-cycle and sidecar, at a fee of 81,250.

which Sadler was driving." The motor.

The CHAIRMAN: That is sil ile buni- ear was attempting at the time to pass neas of the meeting gentlemen, and I thank you for your attendance a ricksha. The motor-cycle was over. Dividend warrants can be obtained, on turned and Sadler sustained serious in application, or Monday at the Com-juries by being thrown heavily on the pany's office...

roadway. He died some nine hours later in hospital.

BOME ECONOMIC FACTS.

Barclays Bank Monthly Review in an article on "The need for fresh capital sets out one or two vital economic facts that are worth putting on record.

"Capital in ita-economic sense," "Bays" the writer, consists of real things, such as factories, plant and machinery, raw materials, etc., while credit provides the means for obtaining them.

"Real capital cannot be increased by indatory methods, but only by aaving. de, by securing a surplus of production aver consumption.

My predecessor, in his speech last year, when calling attention to the dividend

Just as an increase in real capital paid, .., 81.25 per share as against depends on a surplus of production over consumption, so an increase in real wages 81.00 in the previous year, mentioned depends on increased productiveness, that your directors had recommended Any reduction in working hours that dividend, as they were of the opinion signed to ensure greater efficiency and a should be accompanied by measures de-

that (in the absence of any unforeseen larger output per hour worked. adverse circumstances) that figure should The alternative is to run the risk of lowering the standard of living or be maintained from year to year. diminishing capital supplice either or

both.

It is with regret that your directors found themselves unable to recommend To assume that any deficiency in this respect can be made good by bank credits the same dividend this year, but I think or by any other means than an excess

of that you will agree with me that adverse production over consumption is to invite circumstances have this year occurred. serious disillusionment later."

EXCHANGE RATES. [BRITISH WIRELESS SERVICE.]

ROOBY

April 23rd. To-day's exchange rates are as follow

Paris Brussels

Helsingfors Hongkong

15 nom

$15+ boy. 100 BOIL

wo Cottons, 10.30 bay. Orientala.......

Tis, 8.90 buy. Shanghai Cotions (oli) .............. Tik. 62 buy,

Do. Amusementa Canton Icas Cements (combi

China Buses....... Ohi Lights (combined)....320

(old) ... (new)

пронизание

Da

Da

Chins Providents Constructions

Dairy Farmsasiesterabiner Dar A Wing (4.p.); nium Hongkong Electrica Macão Flectrics

H.K. Developmenta B.K. Ropes (combined)

(old)

Dai Hongkong Tramw Land Crawfords.. Mackintoshe

Peak Trams (old

Do

Binderds.....

"Taria

Tia. 27 buy.

..$251 bay. 18 bay. T. 104 buy.

bay.

$6 bay.

nom 10 nom.

784% buy.

25 sts, nom Bet.

53 bel

buy...

дол

meli

12 bay..

$40 BOTTL

Singapors Tractions

buybuyers;

| nom--sominal,

Amsterdam Berlin Copenhagen Vienna

146.80 137 "12,11)

20.42 -18.57

34.50

“Uni ed Asbestos

193

2/2

Watson (old)

Wm. Powells

2/101 (43)

207/15

99. 3/8

4.608

25.17

190.80

18.18

Oslo Prague Madrid. Yokohama Rio Bombav

22.51

-104

33.86

2/111

Lisbon Shanghai Buenos Aires Silver (spot) Bliver (forward). New York Genera Milan Stockholm

8.15/18 1/51

"OVER HALF A CENTURY PREPUSTA PION.

PILLS FOR THE

DE LE CLERC'S LIVER KONEVE

KariasEls tarr Inmaim of SANA EPPIKEANE OSRAM, GRATIS BAILARER Gọn, Reumazes,

· Frick Bu bácling Cranzen, or Toms Tran DELHOLM, Oskaroteen KG.M, WHICndon

DALE CLERG'S VA PUNT DALE CLERG'S ZELE PLEK

ANEMIA, Price

BALE, CLEAD/S/SOAP. 1% or 1,Zable: