1928-02-10 — Page 2

Page

A REAL DRINK

"BOARS HEAD BRAND

GUINNESSS

FOREIGN EXTRA

STOUT

A WORLD-WIDE REPUTATION

SOLE, AGENTS :-

GANDE, PRICE & CO., LTD., ST. GEORGE'S BUILDING, ICË HOUSE STREET.

Tel. Central No. 135.

Hong "Zong

THE HONG KONG DAILY PRESS, FRIDAY, FEBRUARY 10th, 1928.

HONG KONG LAND INVESTMENT AND AGENCY CO., LTD.

POSITION OF THE COMPANY REVIEVED AT

ANNUAL MEETING. ↑

·TRIBUTE PAID TO THE HON. MR. D. G. M. BERNARD.

CONGRATULATED ON HIS SUCCESS IN HONG KONG.

At the 40th ordinary general meeting of shareholders of the Hong Kong Land Investment and Agency Co., Ltd., held at the Board Room of Messrs. Jardine, Matheson & Co., Ltd., yester- day, the Chairman "gave an interesting review of the activities of the Company during the past year,, and explained the present position of affairs.

10

In seconding the adoption of the report and accounts, Mr. W H. Bell paid a tribute to Mr. Bernard, who, as announced recently in the Daily Press, is leaving the Colony Thortly to take charge of the London Office of Mesara. Jardine, Matheson&Co. Mr. Bell on behalf of the shareholders; congratulated MF. Bhard on the great success with which he has steered the affairs of the Hong ̈* Kong Land Investment and Agency Company, and wished him the sante success at Home as he had attained in Hong Kong. The Hon. Mr. D. G. M. Bernard presided at the meeting, and others present were:-Mr. A. H. Compton, Mr. J. E. Joseph, Mr. A. S, Gubbay

in the Colony and no provision has facilities will be arranged for ob- been made for repair shops, but 'taining ordinary supplies.

AN INCREASED PROFIT.

HUMPHREYS ESTATE AND FINANCE CO., LTD.

ANNUAL MEETING HELD

YESTERDAY.:!

holders of Humphreys Estate and At the annual meeting of share Finance Company, Limited, buld at the Hong Kong Hotel yesterday morning, it was reported that the net profit on the past year's busi ness shows an increase of 35,433.81 over the previous year, which is considered very satisfactory.

The net profft for the year ended Decrinier 31st, after deduct ing Directors' and General Mana gers'. remuneration and including $03,416.32 brought forward from the last account, amounts 8,191,05, of which $120,000 has to len set aside to pay a dividend of 50 cents per share, and 830,000 to pay a bonus of 20 cents per share. The remainder is set aside for special accounts.

J. Scott Harston, Mr. J. M. Alves

HONG KONG STOCK EXCHANGE

CLOSING QUOTATIONS.

PABART ST, 118. 8.2 Beak #1,$10 bay.

Don London2182 nom. Chartered Bank............l bay. Mercantile Bank, A. &8..... 99) nom

299 0.4

Do..

P.

&0. Hank

East Aria Bank Caston InsuraNOJ Union InsurENDA

Lis aum.

$733 bay, $415 buy.

$300 buy.

3464 buy. Ta 143 nom

bay

North Uhina Ins. Yangtze Insurance Obina Underwriter..... China Fire fururance....3315 nom, Hong Kong Fire in..... 3880 nom. Douglaser ........... Steamboata H.R.

J.K. Tags...... Indo-Chines (Pref.)

(Dof.)

Da,

Sball Transporta....* Waterbonus... Kailan Mining AN..... Benguet

bay

L

3:61 bar. 59) bay. 2.90 mui.

134 Dom

40

дот.

.83% nom.

17 div. buy.

ד.

99% nom. „04/- bay. Langkat.(combined)......Th. 181 DOXI.

Da (single) Tix. 10 a

Rom hai. Explorations

285 nog. Tid.10 nom. $4 com. ..017/8 bay.

Sha Shanghai Lowas Baube

Trozoh Mines

.30 bay. 64 sel.

B.K. & K. Wharf.........$135 buy.

Hon H.K. & W. Decks.........$47į bug.

Shanghai Douks Chins Providents

Engineering..

New

Bc Cottons..........

and Mr. H. P. White (Directors), position in regard to the rights of Manuk, A. P. Samy, D. E. Clarke Shanghai Co

present

GREEN ISLAND CEMENT CO., LTD. Kennedy, W. B. L. Shenton; J. &

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SHEWAN, TOMES & CO.

GENERAL MANAGERS,

HONGKONG.!

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ing, and others present were:-Mr. Mr. Heary Humphreys (Chair man) presided at yesterday's meet. and Mr. C. Gordon Mackie (Diree tals), Mr. G. Rapp (Secretary). and Messrs Frank Austin, Orientals and J

D. Humphreys (share bolders). THE CHAIRMAN'S SPEECH. CHAIRMAN said: The accounts are Addressing the meeting, the

comment. simplicity itself and call for little

Do.

H.K.&S.

R

Hetals

*****

Realto

Tla, Jus buy.

Tis,&

bay.

...Tls, 97 bay.

Tla. 7.55 noms.

buy. 48 buy. ng bay..

8.35 buy,

500 buy.. 87

Tla. 133 buy.

$8.50 buy.

Landa

Hong Kong Res Shanghai Lands

amphreys Metatas13) buy.

.K. Tramways Peak Trams (old)

bo. Star Ferries

hom

314 Dom

(NOW)....

Hom

$87. buy $17.95 buy. $13

buy.

(now).....194 buy.

Do. (old)

Lo.

The net profit for the year shows previous year which your directors Chins Laghi (comb.). an increase of 83,533.81 over the think is quite satisfactory. Floods

You will note that Typhoon and Special

Insurance Fund Fund

and Repairs 89,092.62 and 918,680.41 respective

and Renewals have been ty. The latter was larger than depleted by

usual, as last year we had to give the periodical overhaul to following Buildings, Humphreys Buildings, buildings Carnarvon Nathan Road Buildings, Aber- tholwyn and Ian Mor.

Libe

By Special Appointment

to

H.M. King George V.

CAMPAGNE

BRUT

PERRIER JOUET

The First Choice of the Connoisseur of GOOD CHAMPAGNE.

Now obtainable in Hong Kong in three sizes.

of nom.

".

QUARTS PINTS

BABY

H.K Electrics

Chins Buses

374 selv, 72) na, Macao Electrica 821 bay. x. rights

Singapore Traction.......11/9 nem. Telephones

L

Chins Sugara

The

$91 buy. Malabon Sugars the

Cements (combined)..

autua Ices

..$4 buy.

$11.40 sel 11.20 Do. HK. Ropes (old)

(ald)......$10 nom,

Unital dabeste m

(new).... nom.

118,50 bay. (us)........13 buy,

the proposed appropriations which I trust that you will approve of will restore these funds to their former figures.

The only building operation uð-

Do..

Dairy Farma...

..310 sel. $18

"buy

$3.10 sel

Last year I referred briefs to the and Mr.. L. S. Greenhill (Seere- the Inte Sir Paul Chater held in appointment of a successor which tary).

Shareholders

respect of his position of "Per were:manent and Managing Director of Messrs. W. S. Bailey, H. A. Rogers, this Company. I mentioned that Her Tape, W. Bell, A. we had been advised that the ap- Tarrant, N. V. A. Croucher, C. S. The position was later tested in pointments ho made were not legal. dos Remedios, O. F. Ribeiro, P. S. Court,and judgment given in favour Cassidy TG. Weail, J. M. Aires, of this Company. Fung Kong Un. D. V. Stevenson, however, has been appealed against The decisioni, F. Austin, H. Dennys, A. P. Samy and the appeal will be heard at P. C. Randall and J. T. Bagram. an early date. As the matter bas

THE CHAIRMAN'S SPEECH.

not yet been finally settled our auditors have desired us to show Addressing the meeting, the Chair. as a contingent liability the amount man said-The amount available for involved up to the end of 1997. appropriation, including $853,931.82 You will see a note regarding this bronght forward from the previous at the bottom of the balance sheet is 31,421,901.48, this, after but I may add that no provision has payment of the interim dividend been made in the accounts. in August last of 2 per share ab When Prince's Building was ar sorbing $480,000. Your Directors quired, your Directors invited Mr. recommend a final dividend of 82. E. Joseph, who was "Managing per share, the same as last year;; Director of the Prince's Building A bonus to staff of $5,000 and the Co. to join ong board, and his name balance amounting to 8023.10.48 to will come before you to-day for be carried forward, and I trust election. Mr. Joseph has had very shareholders will approve of these considerable experience in property. appropriations.

matters and his presence on the Daring the year an opportunity board is of great value to the Camdertaken during the year under ré- occurred of acquiring Prince's pany.

view is the construction of four

Der A Wings Building, with all its recent im-j I do not think there are any other These are now half completed and residential Ants on May Road.

Laze Crawfords.. provements, and on which we had matters that call for comment and should be ready for occupation in

Mackintosh.........

.823 Jul. IL mortgage of

Sincarnars $1,300,000, for I now beg to propose the adaption July next

39. bay. $3,000,000. After carefully consider of the recort and Recounts as pre-

W Powell..... .35 nom. ing the

H.K. Amusements......$28 buy, I have no further comment to every sented. Whea this has been seeon-i-

H.K. Constractions 81 nom. noint of view under presented"I shall be pleased to answer to counts have been proposed and HK. Govt Loans.......% prez. bay.

inake gentlemen and after the ac prevailing conditions, your pre- the beat of my ability any ques seconded I shall be pleased to an-bay-bayars; sui-soilara; ma-maior:

B'que Indus. G. Boado...5% baj. Directors decided to effect the tions, which shareholders may wish purchase and I think you will agree to ask.

swer any question shareholders may that it makes a very fine and im-

put in regard to sime. portant addition to the Company's properties in the Central District. You will notice that to facilitate the Snance of this transaction mortgage of 8850,000, which was in existence in addition to ours already mentioned, has been carried on.

We also had a mortgage of" $1,500,000 on Kowloon Marine Lot 10 but when repayment was due we could get no satisfaction from the mortgagors and as interest was months behindhand we sold the pro perty by auction with a reserve sul ficient to enver the principal and is leaving the Colony very soon and Colony, his place being taken by outstanding interest. It was bought going to London to take charger. L. J. Davies, who resigned his by the Hong Kong and Kowloon there of the interests of Messrs, seat on the Board, which was filled Wharf and, Godown Co., Ltd. How-ardine, Matheson & Co., Ltd., and by Mr. C. Gordon Mackie, ever, they needed only the front the last occasion on which he will SANT, seconded by Mr. J. D. in all probability therefore, this is portion of the lot consisting of

On the proposition of Mr. A. P. vacant land, and gave us the op- take the chair at an annual meet. HUMPHREYS, Messrs. Percy Smith, portunits of purchasing from them ing of this Company. You are also Seth and Fleming, and Messrs. the rear portion consisting of 111o doubt aware that as head of Linstead and Davis were re-elected houses at cost. This offer was ne-Messra. Jardine, Matheson & Co., as auditors at a remuneration of cepted and we were thus able to Ltd., and as our Chairman he bas 8250 each. acquire at a reasonable price a very great say in the direction property with good prospects of of the affairs of our Company, and in view of the very difficult times substantial future appreciation.

The purchaser of some property through which we have passed I at Wanchai which we had sold dur. think that we ought to congratulate ing the boom, allowing him to leave Mr. Bernard personally on the great part of the purchase money on success with which he has steered

matter from

*

TRIBUTE TO MR, BERNARD. Mr. W. H. Hell said:-I have been asked to second "the proposal that the report and accounts should be Passed. It gives me very great pleasure to speak on this occasion because I consider that, in view of the very difficult times, we have had during the past 2 to 3 years, the accounts are remarkably sound and reflect the highest credit on the management.

As you all probably know, our Chairman, the Hon. Mr. Bernard,

ས

The CHAIRMAN proposed the adoption of the report and ac- counts, which were seconded by Mr. F. AUSTIx, and duly passed.

OTHER BUSINESS.

MAS, seconded by Mr. M. MANUR. On the proposition of the CHAIR- Messrs. J. Scott Harston, W. L Pactenden, J. M. Alves and C. Gordon Mackie were reselected as Directors.

It was announced by the CHAIR- MAS that during the year Mr. A. O. Lang resigned

on leaving the

The CHAIRMAN announced that dividend warrants would be ready this morning (Friday). THE BANK OF EAST ASIA, LIMITED.

LAST YEAR'S PROFIT $700,000,

February 18th,, 1925

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EXCHANGE RATES. (BRITISH WIRELESS SERVICE)

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SOLE AGENTS:

T. E. GRIFFITH, Ltd.

6, Queen's Rd.

Tel. 0. 3517.

[A.2 0.2]

INSURE

YOUR

Ruary, Feb. 8th.

Faris *Brussels

Amsterdam Milan Copenhagen Vienna Helsingfors

121

24.99

12.091

MOTOR

09,05

19.20

34.60

CARS

193)

Lisbon Bucharest

2.5/16

792

WITH

471

2/01

2/11.1/16

4.87.7/32

225.33

20.42

18.16.

Prague

05.0 *****

18.315

104

Madrid

28.30

Athens

307

Rio.....

Buenos Aires Shanghai Yokohama

New York

Geneva

Berlin Stockholm

5.30/04 1/6.31/32 2/01

Bombay Hong Kong Silver spot & forward 28

HEALTH OF AIR FORCE.

2,317 CASES OF INJURY IN 1924.

GILMAN'S

"OCEAN" COMPREHENSIVE POLICY.

Don't worry.

On here!

пов

A Welcome Visitors

at any

time in

every

household. Every Bug, Flea, Eectic, Moth, Fly, etc., dies once it has come into proper contact with

mortgage, defaulted and we had to the affairs of the Company. re-enter. The resulting value in our opinion the shareholders of this books was rather high so your Direr Company owe a very hearty and a tors decided to allocate $60,000 from | very special vote of thanks to Mfr. The report of the directors of the last year's profits to writing down Bernard. I feel sure also that you ahore bank, to be presented at the the property to a more reasonable will all join with me in wishing ninth ordinary yearly meeting of figure.

him a pleasant passage and a good the company to be held at the The foregoing are the principal holiday at Home and that when Company's Registered Officer, No.

LONDON, Jan. 16th. causes of the amount Advanced he resumes work that he will have 10, Des Voeux Road Central, on The average-strength of the, Air on mortgages falling

from the same success in the City of Saturday,

Force in 1928 was 3,963 and the $10,140,500.20 to 80,144,957.50 and London as be undoubtedly has had states; -

total cases of disease and injury "amount invested in property in Hong Kong,

The proft for the year, including were 26,422, tates the report on increasing from $5,340,030.37 to I beg to second the proposal that 8298,782.84 brought forward from the health of the Force in 1998. 80,021,286.20 during the year.

The

report and accounts. be adopt. last year and after paying all ex. Sickness decreased et Home but in Arrangements have just been com- ed.

penses and charges and providing creased abroad owing to the in- pleted for the erection of

a garage In reply, the Chairman said: I for all bad and doubtful debts and 'creqse in cases of malaria in India nt the Peak to meet the need for thank Mr. Bell for his remarks, other contingencies amounts to and Iraq to 648 and 622, respective more accommodation for cats. It and you, Gentlemen, for the very $723,322.54 with the Directors pro-15, compared with 483 and 383 in will be built on the open space on kind way in which you have receiv poso to deal with as follow:-

the previous year. Chamberlain Road half way be-ed them, but I would like to-BRY share on 50,000 shares absorbing, equal to 76.3 per thousand, comar- To pay dividend of 85.00 per There were 2,317 cases of injury, tween the Peak Hotel and Mount that the credit of the management Kellett Rond. The building will be of this Company rests with the $300,000.00; To pay & bonus to ed with 87.8 in 1925.60 per cent commenced almost immediately and Board. As a Board they have directors, holders of founder shares of the injuries were received an be completed towards the end of studied very carefully every matter and the staff, $18,080.03; To duty. Flying accidents accounted the year. It is planned as a two that has come before them, and the carry forward, 8104,041.50; Total: for 7.1 per cent of the total in storey building but the upper storey credit of the management rests with 8723,322.34. 1

juries, but, in view of the number will not be proceeded with until the Board as a whole,

The accounts have been audited of hours flown, the casualty risk in the demand for space warrants such The report and accounts were by Messrs. Perey Smith, Seth, and was lower than in previous years. development. The ground floor will then adopted unanimously.

Fleming, who retire, but being The casualties were 179, înclud have 14 privats lock-ups and in

Other Business,

shigible, offer themselves for reing 76 death, giving a percentage addition will be able to garage 15

election. ears, allowing all of them clear Stavenson, seconded by Mr. J. A.. On the proposition of Mr. D. E..

of 44, compared with the average percentage of 41 in the previous access to their individual parking Tarrant, the appointment of Mr. Bailey. seconded by Mr. P. S.

On-the-proposition of Mr.-W. B. five-years. spaces; this is without taking into J. E. Joseph to the Board of Direc- Cassidy, Mestre, Percy Smith, Seth consideration the open space retors was confirmed... nerved for manœuvring purposes.

and Fleming, and, Mesars. Linstead On the proposition of Mr. and Davis were re-elected as Audi THERAPION – No. 1 Rooms are also being provided for W. E. L. Shenton, seconded by tors, at a remuncration of 8760 each. THERAPION No. 2 nlimited number of chauffeurs. Mr. B. W. Tape, Mr. A. H. Comp Your Directors feel that this garage ton and Sir Robert Ho Tung, who business of the meeting, gentlemen, THERAPION NO. 8

The Chairman: That is all the cars at the Peak, and particularly retired by rotation, were unanimous and I thank you for your attend for adder Genseren kan ha Good (RS to those who drive their own re-elected as Directors of the ance Dividend warrants in Hot

Analo "Company. machines. It is not intended to com

obtained at the Company's office to- pets with the established garages (Continped at foot of next column.) i morrow. (Triday).

will be a great boon-to-owners of

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