1926-11-08 — Page 4

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Woollies and Pull-overs.

THE HONGKONG DAILY PRESS, MONDAY, NOVEMBER 8TH, 1926.

The coolier evenings make "Woollie" o essential garment Extra warmth is desirable Especially when travelling on the Ferry, up in the Peak Tram or in a Car, yet the "nip" in the air does not call for an Overcoat,

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BOXING.

EWIN `STILL" WELTERWEIGHT

CHAMPION.

UNDERWOOD. SECURES DECISION AGAINST BAKER.

A GOOD PROGRAMME.

[BY CADOTYDD.]

SANDAKAN LIGHT AND POWER COMPANY (1922) LTD.

THE 4TH YEARLY MEETING OF SHAREHOLDERS.

PROSPECTS OF BIG IMPROVEMENT IN EARNINGS.

A satisfactory report was presented to the shareholders at the fourth ordinary yearly meeting of the Sandakan Light

A.B. Ewin, of H.M.S. Bermet, retain-and Power Company (1929), Limited, held ed the, Welterweight Championship of at the head office of the Companý, St. | the Colony at the City Hall, on Satur. George's Building, on Saturday morning. day night, when he defeated his chal. It was stated that after deducting Gener

Managers' commission, the profit on the lenger, C.P.O. Ji. Cartlidge on points. Ewin by his victory: also won the G. year's working was $29,457, but this had Young belt It was a great fight-clean, been turned into a loss of $28,727 on the year, by reason of writing off various open, and hard-hitting. Ewin was cer- debits, and, therefore, there is a debit tainly the better, but Cartlidge put up

on the Profit and Loss Account of $50,276. splendid fight..

The bright spot; however, is the report is that there are prospects of a still larger improvement, in earmags for the chang year.

Underwood, on his first appearance defeated Baker, of the Hermes, follow ing a spirited ten-round bout. Cpl. McManus, of the Hawkins, who has a Ansaputation, lost on points to Maring

| Hills, of the Hermes,

All the fights were well-worth watch

ing

There was a capacity house. Amongat those present were Sir Shou-son "Chow, Rear-Admiral Stirling, Mr. GM Young, Mr. J. Scott Harston, Mr, R. V. Dyer, and members, of the Boxing Asso

ciation.

The Big Fight.

In the chief event, a 15-round contest for the Welterweight Championship of the Colony, and the G. M. Young Belt, the contestants were AB. Ewin (the holder) and Jim Cartlidge.

Both men were well received. Cartlidge

Mr. R. G. Spears

KAIPING COAL FOR ALL PURPOSES

HOME, FACTORY AND BUNKERS

POWER HOUSE,

TUGS & LOCOS

THE KAILAN MINING ADMINISTRATION DODWELL & CO., LTD., Agents, Hongkong.

Wall HONGKONG REALTY AND TRUST GRAND HOTEL DES WAGONS-

were also present: Messrs. T. G, and Tong Hok Ting (members of the Con- sulting Committee), Mr. Noel Braga holders: Mesars, A. L. Shields, I W. (Secretary), and the following share-

Shewan, D. W. Munton, J. Toppin, F. J. Tavares, Allen Keith, The Tsan Tai, Tsang Foo and"A. A. Botelho.

CO.,.LTD.

THE YEARLY MEETING HELD.

$750,000 MORTGAGE ARRANGED FOR.

LITS, LIMITED.

THE 3RD ANNUAL MEETING OF SHAREHOLDERS.

CAUSE OF DECREASED PROFIT.

"The CHAIRMAy, addressing the share. holders, said: The pront for the year on working account, after deducting General It was stated at the third yearly Managers' commission, 15 137.66,eting of shareholders of the Hongkong The unsettled state of affairs which has which compares favourably with last Realty and Trust Company, Limited, year's returns, which were for fourteen held at the registered offices of the Com-Prevailed in North China, was advanced a the reason for the decreared balance months, the average monthly proat being pany; Exchange Building, on Saturday on, the Working Account at the 23rd $1,871 as against 82,666 last year, and morning, that it has been considered annual general meeting of shareholders this in spite of the fact that we have in pruden: measure in the interests of the of the Grand Hotel Des Wagons-Lits. for the sum of Eimited, held at the registered office of depreciation on stores to the extent of $750,000 to be $3,037,94, whereas nothing was written off in last year's working account. As re- gard this year, I am glad to say that the prospects of a still larger improvement in earnings are very good.

was the heavier by a pound, he being-140 | the present working account allowed for Company to arrang to the Company the Company, Exchange Building, on

pounds and Ewin 143.

with caution.

Mr. A. Murdock refereed. The fight was spirited from beginning to end, both men showing up cleverly. Ewin, at the beginning of the nght, seem- ed eager to knock his man out, but Cart lidge safely cluded his right. With the gong for the first round, "Ewin took to attacking, whilst Cartlidge was sparring As the fight progressed Ewin went ahead, but not to any great extent. Cartlidge made him miss badly, occa- sionally Cartlidge did better in the ith raund, and stored often with swift felt jubs. But Ewin ofton scored with rights to the body. In the seventh round Cartlidge did much of the attacking and scored frequently, but failed to do as well in the next round.

Depreciation Deal: With. Depreciation has been dealt with drag-

as mortgage. This will partly be used Saturday morning. Despite the decrense. to pay of the present mortgage of however, which was, approximately Tis $331,918, and the remainder, it is anti-10,000 less than the balance credited to cipated, will provide for all the financial the Profit and Loss Account the previous requirements of the Company for the year, this account still shows a substan next three years and a half in respect of tal balance on the credit side. the properties held at present.

sided, and there were also present: Mr. E. M. Raymond (Chairman) pre- Messrs J. Scott Harstou and W. I. Hawker (Directors); while Mr. Hawker, who is managing-director of the Hotel, was also representing, as attorney, Mr. J. H. Taggart, also a member of the Board of Directors, who is at present absent from the Colony. Others presen were: E. C. Barry (acting Secretary) and the following shareholders: Messrs. A. W. Smith, W. J. Burling, P. I. Newman, M. Omar, P. H. Suckling, C. E. V. Ribeiro, John Fleming, D. R. Parsons, E. Pepperall and C. E. White.

Increased Costs.

tically in these accounts, and with regard sided and there were also present: the Mr. J. Scott Harston (Chairman) pre- to the auditors remark, I can only say Hon. Sir Shou-son Chow, and Messrs. E. that, as there seems to be some difference. Raymond, B. Lander Lewis (Direc on the point as to whether depreciation tors). P. K. Kwok, and Mr. W. J. on such assets as plant, buildings, mains Hawker (attorney representing Mr. J. H. and cables, etc., should be charged to Taggart, who is also a member of the working account or to profit and loss. Directorate, but is at present away from we have followed our usual, and I think the Colony on account of ill-health). the more ordinary, practice of debiting There were also present: Mr. C. F. V. it to profit and loss.

Ribeiro (acting Secretary) and the fol- Besides writing the sum of $7,109.52 off lowing shareholders: Messrs. O. Kitchell, The fight went on without being tame value of concession, we have wiped out S. C. Cook, F. M. Crawford and A. W. at any time, but Ewin continued to be the whole of the underwriting commis-Smith auperior. However, in the twelfth, thir.sion paid last year, ri., 823,806, and the

There were 82,425 shares represented at. balance. of preliminary teenth and fourteenth 'round Cartlidge.

expenses, the meeting. did extremely well. Often he crashed his 278.37, and this, with the auditors and consulting committee's fees, has

Mortgage Arranged.

Addressing the shareholders, after right to Ewin's jaw, and sent across neat turned the pront on working account into

Addressing the shareholders, after read-reading the Auditors' report, the CHAI He won two of the three rounds. loss of $28,727.52 for the year, which ing the Auditors report, the CHAIRMAN MAN said: The last round was unexciting. Evin is transferred to the balance sheet. This said:

The balance of Working Account of out was cautions and Cartlidge was trying brings the total amount at debit of pre- hard to get a knock-out.

The vision went to Ewia, and Mr. it and loss account to 860,276.13, but G. M. Loung invented him with the belt.tems completely, we shall not have to as we have written off some of the largest Ewin deserved to win, but Cartlidge face them again next year, when we hope put up a great fight.

that profits on the other hand will make Underwood Impresses.

a better shewing.

letts.

In a ten-round lightweight bout, LT Underwood, of H.M.S. Fovlafon, defcat- ed A.B. Baker, of H.M.S. Hermes, on points. This was Underwood's first up pearance in Hongkong and he certainly made a fine impression.

The fight was tast throughout, Baker being on the whole more aggressive, but Underwood way the clever. His left leads were certainly fine, and often be seat across very hefty rights. His defence was also good. Baker hustled his man, took punishment without flinching, and was dogged throughout. His chief, naget seemed to the right and left jabs. He, however, missed badly at times owing to Underwood's dodging, and clever ring craft. Of the two, Biker was certainly the stronger, but in experience he was not up to Underwood's standard. There was not a tame moment in this fight. Underwood was adjudged the winner.

E.0.5.B. Man's Win.

I venture to think that the Accounts Hotel in Peking is, for the year under as presented to you, taken in conjunction review, Tls. 55,518.03 approximately Tis. with the remarks thereon appearing in 10,000 less than the balance of. Working the Report of the Directors, exhibit quite Account eredived to the Profit and Loss clearly the financial position of the Com-Account at June 30th, 1925. I feel sure, Pany at June 30th last.

however, that in view of the unsettled Since that date the Directors have made state of affairs which has, unfortunately, the Final Call on the shares which were prevailed in North China during the New Customers,

then $7.50 paid up. I must inform you, year, resulting in practically the cessa As I said last year, new customers come however, that it has been considered tion of tourist traffic to Peking, the re- slowly; but they do come, and although necessary as a prudent measure in the sult is one which on the whole share. our sales of lighting units show but af interests of the Company to arrange for holders should not regard with dissatis- very tiny increase, our sales of power the sum of 8750,000 to be advanced to the faction. Furthermore, not only has the units have risen by about 25 per cent. Company on mortgage. The present Hotel lacked the support of transient The timber, trade with Hongkong fell off during the year owing to the boycott at Canton, and this in turn, no doubt, bad its effect on our business; but on the other hand, a large acreage of land is being prepared for rubber cultivation, which we hope will be reflected in an increased demand for electric power as these plantations come into production. Our Manager at Sandakan reports that the Government there have made some change in their plans regarding the water works scheme, but that it is now anally decided to proceed with the new scheme.

Faith in North Borneo.

The Net Profit.

After writing off depreciation to the

mortgage of 8551,218.50 is due for repay guests to the extent usually to be expected ment on April 30th next and, in view in normal times, but it has been com of the existing financial state of affairs, pelled to operate on the basis of increased that amount could not be met out of the costs of almost all commodities; the funds of the Company. It has therefore present time, for instance, owing to the beer arranged for the present mortgage commandeering by military units of all to be paid off on due date out of the means of transportation, coal in Peking 8750,000 referred to (on account of which is new most difficult to obtain and even the Company has already received so only at a very high cost, though we 8230,000) so that on the 1st May next have ao far as reasonably possible endeav the indebtedness of the Company in re- oured to lay in stocks as suitable oppër- spect of mortgage will be 8750,000, the tunities have occurred. security being the Exchange Building And the Bungalow property at Repulse Bay. On April 30th, 1928, the amount is We still have faith in the future of to be reduced by 8230,000 to 8300,000, the extent of Tls. 33,108.30 as shown in detail North Borneo, and of Sandakan in latter amount then remaining on the in the accounts presented to you, the net In a six-round featherweight contest, particular, and with an improvement of a period of two years, vit, to April 30th, is Tls. 6,983.32 which, being added to the security of Exchange Building only for profit for the year to June 30th, 1928, Pte. Hume, of the K.O.S.E.'s, was in the timber trade with Hongkong and the 1030.

balance brought forward from the pre- too good for A.B. Mirrell, of H.M.S. advent of further Rubber plantations, an Carlisle Mirrell, was however, wonder-all-round increase in trade must make the above arrangements will provide for gives a Profit & Loss Account credit of To the best of my knowledge and beliefvious financial year, riz., TIs. 3,201.55, fully game, and even when h seemed itself fel: before long.

I may add, as regards the plant and Company for the next three and a half helplessly beaten made some clever re-

all the financial requirements of the Tls. 10, 184.87. coveries. Hume slashed home continual machinery, that all have been kept up years in respect of the properties we have of the Investments

I might point out that the market value shown in the ly, and it seemed that Underwood would in the highest state of efficiency, and that at present.

Balance Sheet at June 30th last as at go under in the first two rounds, Hewe, now have 'an installation capable of

Rentals Not High.

cost, Tls 82,438.13, was at that date however, stood well up. Hume won com supplying at least double the present

approximately Tls. 83,470 and at the fortably, but seemed to lack a realty output of current. good punch.

Present time approximately Tis, 85,000.

I now beg formally to propose that the A Blashing Bout,

Report and Balance Sheet and Accounts" as presented be adopted and passed, and that a dividend of three per cent on the nominal value of the issued shares of the Company be declared in respect of the year to June 30th, 1928. When that

As mentioned in the report of the I now beg to propose that the Report Directors, Messrs. Lane Crawford, Ltd. and Accounts for the year ended 30th opened to the public on the August 17th, June, 1928, be adopted and passed, and 1920, their premises in Exchange Build The contest between P.O. Meen, of when this has been seconded I shall being. Tenants for the office rooms are be H.M. Submarines, ad L.T. Baker, of pleased to answer questions from share- ing obtained gradually, although, as you H.M.S. Moth, in the welterweights, was holders

can well understand, the rentals arranged a terrific encounter. As the fight begaa Mr. T. G. WELL, seconded, and the are not as high as would be expected to both men hit out. Many of their swings Report and Accounts were carried unbe received in normal times, went wide, others contacted, and in the animously. first round after being floored twice, the

Other Business, bell mved Meen. He was somewhat On the proposition of Mr. ALLEN groggy in the second round, but recovered Kern, seconded by Mr. TSANG Foo and punished Baker badly, Baker was Messrs. Tong Hok Ting and T. G. Weal knocked out in the third round. The were re-elected to the Consulting Com hardest slogger won."

A Fast Fight.

In a six-round middleweight bout be tween Stoker Morrell, of HM.. Hau Ains, and Stoker, of H.M.S. Ambrose, the pace was fast throughout. Morrell, although missing occasionally was, the aggressor for the most part. He got home some hefty rights at times.Thom- spn waa hot slow to reply, but seemed to lack conidence.. Morrell won,di kun

"Hermes" Man's Fine Win

20

I regret that Mr. Taggart, the has been seconded. I shall be pleased to Managing Director of the Company, who answer to the best of my ability any ques-" interest in the erection of this building, put with reference to the report and personally supervised and took a great tions which shareholders may wish to is not present here to-day, but owing to accounts.

health it was necessary for him in June Mr. P. H. SUCKLING seconded, and last to be granted leave of absence and there being no questions, the Report, he is not due to return to Hongkong un

Balance Sheet and Accounts were passed til early next month..

unanimously.

mittee, for the present financial year.

On the proposition of Mr. D. W. Messrs. Lowe, Bingham and Matthews, Balance Sheet and Accounts as presented MUNTOs, seconded by Mr. A. A. BOTELHO,

I beg to propose that the Report and and Mesare. Percy Smith, Seth and be adopted and passed. When that pro Fleming, were re-elected-Auditors for the posal has been seconded I shall be pleased ensuing year at a fee of $250 each per to auwer to the best of my ability any This was all the business of the questions shareholders may wish to pus. meeting.

Mr. S. C. Coox seconded, and there being no questions, the Report, Balance Sheet and Accounts were unaminously carried.

Other Business.

anninum.

Other Business, '.

seconded by Mr. W. J. BURLING, the On the proposition of Mr. A. W. SMITH, appointment of Mr. J. Scott Harston as a Director of the Company was confirm- ed, and Mr. E. M. Raymond was re- elected a Director of the Company

On the proposition of Mr. U. M. OMAN, seconded by Mr. E. PEPPERALL, Mesars. Percy Smith, Beth and Fleming were re- A Challenge.

elected as Auditors of the Company for In a six-round featherweight contcet; Marine Hills, of H.M.B. Hermes, really Morris, of E.M.8. Hermes, challenged seconded by Mr. O, KITCH, the spation as before, vi

Before the big fight began, Stoker On the proposition of Mr. CRAWFORD, the ensuing year at the same remunera- surprised Cpl. McManus, of H.M.S. the winner of the fight, and also ex-pointment of Mr. John Fleming and Mr. The CHAIRMAN: That is all the business, and though he got home some good body pressed his willingness to meet any man B. Lander Lewis as Directors of the Com- gentlemen, and I am much obliged for blows, Bills was clusive, and scored fre- He also accepted the challenge of Stoker Haraton and Mr. P. K. Kwok were Auditors of the Company for the ensuing

in the Colony in the welterweight limit. pany was confirmed, and Mr. J. Scott your attendance. quently with the left. Hills kept very Howard who recently arrived in the re-elected Directors of the Company, cool throughout, and this in particular Colony. He has a good reputation, and On the proposition of Mr. A. W. SMITH, year at the same remuneration as before. enabled him to win. Hills should go wrote to the press seeking a fight Cart reconded by Mr. F. M. CRAWFORD, Messrs. The CHAIRMAN: That is all the business long way in boxing.

large accepted Morris's challenge on Ho Linstead and Davis were re-elected as of the meeting, gentlemen, and I thank. (Continued on mezi Column), 'ward's behalf.

(Oontinued at foot of next Column) you for your attendance.

Hawkins. MoManus was often erratic,