1929-06-10 — Page 9

By

Special Appointment

fo

H.M. King George V,

*RBERYE GUTZE

Скажидани

Fur auto

BRUT

The Connoisseur's - First Choice's

PERRIER

JOUET

This excellent. Champagne

is now obtainable

in Hong Kong ", in three sizes,

QUARTS $7.00 per

PINTS BABY

bottle

+

$3.70 $2.00

11

17

ป

A baby Perrier Jouet and Guinness is

The Ideal Tonic and

Pick-me-up.

Sole Agents:

T. E, GRIFFITH, Ltd.

6, Queen's Rd. CH."

ASTEMA

TeLQ. 2517.

HIMROD'S Asthma Curs gives Instant re Hef from Ca tarch, Asthma, Colds, etc. The standard reme dy for over 50 YOUTH.

At all chemists.

Himrod's

ASTHMA CÚRE

THE HONG KONG DAILY PRESS, MONDAY, JUNE, 10, 1929.

Money and Markets

HONG KONG MARKET

REPORTS.

Yesterday's quotations for rice and other foodstuffs were as fol- low:-

Red Seal

Rice,

Black Seal .......

Blue Seal, No. 3

Green. Scal

Broken, Blue Seal

Granulated, Blue Seal No. 1

Glutinous,

Ching

Hung

Cherk Glutinous Broken, Green

Seal Round Rice

Long Unglutinous, Ching

Sau

Miscellaneous. Granulated sugar, No. 20

содике

CORT

Groundnut oil, Fongtze Groundnut oil, native. Camellia-nut oil

CANTON TRADE NOTES.

Over three hundred baga of cement were imported from Hong Kong last Friday.

*

Per Nearly all the steam launches and Picpl. tow-boats plying among the country 8 7.15

districts have resumed running and 6.99 8.38 nearly all commandeered craft have 7.39 been returned to their owners. 6.48 6.04

*

•

The market for edible marine 7.97 products is unusually quiet Ar

rivals from Japan are considerable 8.72

but supplies from the country dis- 8.74

tricts are rather scarce. There are 7.02 however signs of improvement.

26.50

A week ago, price of eggs was 86.98 unusually high being about $3,60 Granulated sugar, No. 24

7.74 per hundred. Large consigaments 22.80 art now arriving from the country well as from Hong Kong and 32. Shangha and the present price is

7.20 only two dollars per hundred. 8.80 78.00 15.00

Wood-tar oll

Soy Bean

Small Green Bean

........

Ham. Yunnan Date preserved with honey.. Grapes, Kumshan

19,00

16.80

BANKNOTES IN CIRCULA. TION.

FIGURES, FOR MAY.

*

•

The market for cotton yarn is slack again but prices have risen ene to two dollars, as stocks are limited. According to telegraphic advices from Shanghai, prices of

hoth Chinese and Japanese yarns there have also risen.

*

Only limited quantities of rice are being imported into Hong Kong from Siam and Annam and markets Returns of the average amount are still dull both in Canton and of Bank Notes in Circulation and the Colony. In the West River dir of Specie in Reserve in Hong trict prices are normal thanks to Kong, during the menth May 31,big arrivals since the blockade was 1923. as certified by the Managers lifted. of the respective Banks are as follow:-

Average Specie Amount" in Reserve.

Chartered

Bank 815,856,14 $6,300,000*

34,000,000

660,000 §

H.K. & S. Bank... Mercantile

Bank

48,081,935

1,734,713

Total... 805,479,794

40,060,000

TWO COMPANY MEETINGS."

LANE, CRAWFORD, LTD., AND WM. POWELL, LTD.

RECORD OF DIFFICULTIES SURMOUNTED.

#

"WORST PERIOD TIDED OVER."

Mr. M. Manuk, who presided at the Lane Crawford, Ltd.," shareholders' annual meeting on Saturday at Exchange Building, was able to make the optimistic announcement that the directors, feel that we have at "last successfully tided over the worst period in the history of the Company, and we now can, without

a better future." The' being over optimistic, look forward to working showed a profit of $23,000 compared to a loss of $11,000 "in the previous year and the bad debts are considerably less.

At the meeting of Powell's Ltd., at the same place and at 12.30 p.m. on Saturday, the Chairman. Mr. Manuk, described a year of successful reconstruction, and a dividend of 23 cents per share.

LANE, CRAWFORD, LTD.

Addressing the shareholders, the Chairman, Mr. Manuk said:

WM. POWELL, LTD.

GOOD EFFECTS OF RECONSTRUCTION.

At the meeting of Messrs Wm. Powell. Ltd., Mr. M. Manuk, said: Since our last annual general meeting the Company has been re-

You will notice that the net re- salt of our working shows & proft: of 823,102.85 as compared with a loss of $11.097.74 for the year pre- vious. This result, which I feel Bare you will consider satisfactory, has been achieved in spite of reconstructed in accordance with duced turnover.

the proposals mentioned in my speech at that meeting.

Our investments, which produced nothing last year, have given us a return of 88,083.50, the item of Repairs and Renewals shows an increase over last year of 83,347,71 Your directors have considered it advisable to debit to this account all minor additions and altera- tions to fixtures and furniture instead inating the values of existing

fixtures hence the in-

creuse.

Bad Debts Less.

I am glad to say that our Bad Debts are considerably less than last year's and the Reserve for Bad and Doubtful Debts created this year, viz: 83,000, is consider- Kwangtung silver ecins are stilled by your Directors to be ample. being imported by Chinese bankers As indicated in, the report sub- the from Hong Kong. Of late, over mitted by your directors, 730,300 Kwangtung -cent silver balance at debit of Profit and Loss coins and over 16,500 big dollars Account, after making the usual were imported from Hong Kong allowances, amounted to $13,886.07. and 40,000 Kwangtung coins from This has been eliminated by a transfer from Reserve, which transfer also allows the sum of 80,142.06 to be carried forward to the credit of Profit and Loss Ac count.

Macao, -

Although communication between Hong Kong and Wuchow has been resumed Wuchow merchants have placed few orders with Hong Kong, in spite of the shortage of practical- ly all commodities. Very little pro- duce is reaching Wuchow from the country districts owing to the war,

**

❤

A

*In addition sterling securities are deposited with the Crown Agents valued at £1,983,600. tin addition securities deposited with the Crown Agents and Straits Government, valued at £2,990,442.

The total quantity of pankeen $In addition securities deposited

with the Crown Agents valu-exported during the May was 9,279 bales, a decrcuse of 110 bales on the ed at £180,000.

previous month. Most of the non- keen was exported to the United States, which took 1,741 bales, 279 bales went to France, 183 bales to Italy and 90 bales to Britain. Prices during May were not so low as in April being about. 8108 per bale. Each bale contains a picul.

The following statement of the securities lodged with the Crown Agents by the Mercantile Bank of India, Limited, against their notes in circulation, is published in the

Gazette.

Latest Security. Amount. market price. 51%Treasury

Bonds re

payable @

100 in 1080 £150,000

904-1001"

CHINESE CUSTOMS. LOANS.

TIPS FOR INVESTORS.

Ia his Safety First" column in the Financial News of May 9 "Frank Simmery" refers to China as hardly to be looked upon at pre- sent as the happy hunting ground of therinvestor who is rigidly fol BALLANTINE'Sowing safety first principles But, in fairness, it must be admitted,

in use for almost 100 years, he continues, that to rule out China

ESTABLISHED 1827,

#

By Appointment to

H.M. The Late King Edward VII.

B.M. The Lats - Queen Victoria

and

His Majesty King George V..

PURE SCOTCH LIQUEUR WHISKY

10 years old.

GEORGE BALLANTINE

& SON,

LTD.

GLASGOW AND LONDON. DISTILLED IN SCOTLAND

calculations is from investment taking an altogether too sweeping view, for, in his opinion, certain of the loans secured on the Maritime Customs are very well worth atten tion. The following he gives as the two most attractive loans of the series:-

next

Chinese 1805.-The, per Cent. Gold Loan of 1805 is redeemed by annual drawings at par for

ja

July. the repayment drawing taking place in March, 1930. The whole of the Loan to be redeemed in March, 1831.-at-par-so-that-it-has less.

is

than two years further to run: In

terest is paid on January 1 and July 1. The present price of the Loan ja around 8, on which the flat yield is approximately 24 41 per cent., while the yield with redemption is 27 48. 10d. per cent. The security on this Loan appear to be ample, the amount outstanding must

cow be not much over ape and a-half million.

Chinese, 1800-The 5 per Cent. Gold Loan of 1606 gives rather a

better fat yield than the 1895, and by reason of its slightly longer redemption date, rather a smaller vield-on-redemption. In the case If you want a really first class of this Loan there are three more

spnual drawings at par for repay Bcotch Whisky at a reasonable price, ment April 1, the next drawing you can have no better than taking place in February, 1830. In Ballantine's Liqueur Whisky. It interest is paid on April 1 and Octo excellent.

The French Store Beaconsfield Arcade,

Depreciation Allowances, Turning to the Balance Sheet, it will be noticed that the Company's property at 17, Burrows Street has not been depreciated. The reason for this is that a recent valuation shows a satisfactory margin be- tween market value and book value of this property,

Bakery Plant and Cold Storage Plant have been subjected to the same depreciation as last year.

With regard to the depreciation made in respect of Fixtures and Fittings, I must remind you of the very heavy depreciation made last year, and also the remarks. I have already made anent Repairs and Renewals

י

The depreciation of garage tools CANTON STOCK EXCHANGE. and equipment has been provided

for in the Working Account.

Stocks, as valued by the manage-

CLOSING QUOTATIONS.

.8 3.80 4.40

CANTON, June 8. Water Works Electric Light and Power Canton-Hankow Railway The Sun Company Sincere Company Nanyang Bros. Tob. Co. Canton Tramways China Merchants' Steam

Navigation Co.: Central Bank of China ......

.......

You will notice from the Profit end Loss Account that we have made a net loss of $44,289.57 on the working and on the sale of stocks, etc., of the departments now closed down. In view of this anticipated loss. last year, your Directors created a reserve of 875,631.40, which reserve has now been transferred to the credit of Profit and Loss Account

Judging by the result shown already your Directors feel that the reduction of capital and the shutting down of the non-paying departments was a wise move.

The stocks of the Company are absolutely clean, and have, where. necessary, been depreciated to re- placement cost.

Mr. R. L. Bridger has resigned

Colony and your Secretary. Mr. from the directorate on leaving the Howell, has resigned his position, and leaves the Colony to return Mr. Howell has to England. served the Company faithfully and well, and your Directors are sorry to lose his services.

Dividend of 25 Cents, Your Directors propose to pay dividend of $5 cents per share from the credit balance of Profit and" Long Account, 810,500, to place 810,000 to General Reserve, and to carry forward to the credit of next year's account the balance, viz., 83,360.10"

absorbing

Mr. E. M. Raymond seconded, and the Report and Accounts were unanimously adopted.

On the proposal of Mr. Ainsley, seconded by Mr. Hampton, Mr. Manuk was re-elected a Director for the ensuing year,

Mesara Percy Smith, Seth and Fleming were re-elected auditors for the ensuing year, at a Te- muneration of $250, on the pro- posal of Mr. Brown seconded by

Mr. Ribeiro.

Why "White Horse"

comes to

you

in

perfect condition

ALL AIR

EXTRACTED

FEHOLD PURE

EXY

frout Br us 15210

AND LONDON

APPOINDSURY

The Old Bi

41127

WHITE

From the day it leaves, our vats to the day it leaves the bottle White Horse

Whisky is kept in a pro- tective vacuum. Instead of air in the neck of the White Horse bottle there is a total vacuum. And so White Horse Whisky comes to you, wherever you are, in its sunset mat- urity with none of its rare flavour lost, none of its fine bouquet dispersed, none of its strength evaporated.

HORSE

whisky

BOTTLED IN SCOTLAND

Agents:

LANE, CRAWFORD LTD., Hong Kong.

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

JUNE 8, 1929. H.K. Banks aga $1,247 val. London...132 EL. Chartered Banki.....$194 buy, Mercantile Bank¡A.&B...£33 noma,

Dai

Ɑ...£151 com.

Do

P. 40. Banks. East Asia Banks $90 nom. $650 bay. Canton Insurances...... Union Insurance

ment, have been depreciated where the announcement by the chairman North China Ina, so........... Tia. 180 buy.

necessary.

·

Two New Departments. Two. new departments have been added to the Company's Store, 6.50 namely the Children's Department 28.00 and the Dress Material Depart 121.00 ment, and these show promise of 4.00 satisfactory business. In order to 2.50 make room for these departments; several changes in the lay-out of the Store were made, and I have no doubt you will agree that an improvement in the appearance of the Store has been effected.

4

46.00 42.00

HEALTH BULLETIN OF EASTERN PORTS.

FOR THE WEEK ENDING JUNE 3.

•

Flague.

Rort Said: case. Baghdad: 4 cases, Rangoon 2 deaths. Colombo 3 cases deaths.

Cholera. Baesein: 1 death. Bombay 1 death. Calcutta: 103 death. Rangoon death.

Pondicherry 1 case, 1 death, Bangkok: 9 cases, 4 deaths. Pnom Penh 6 cases, 4 deaths. Saigon 19 cases, 14 deaths. Canton: 1 case,

Small pox. Aden; 7 casca, 5 deaths. Baghdad 2 cases, 1 death. Basrah 2 czIES. Bombay: 52 cases, 33 deaths... Calcutta: 13 cases, 10 deaths. Karachi: 22 cases, 21 deaths. Madras: 24 cases, 13 deaths: Negapatam 1-CASE. Balik Papan: 1 case. Macasser 7 cases, 6 deaths, Haiphong: 2 cases, deaths. Pnom Penh 1 case, Canton 8 cases, 1 death.

·Dairen 5-cases, 4 deaths. Vladivostock: 2 caser. Swatow: 13 deaths.

1 Carebro-spinal Meningitin,

ber 1, the final drawing taking place in February, 1932. The life of this Loan is therefore, roughly, three vears, while for 1931 it becomes the

the Maritime fille I CASEI, I OPTUL toms Revenues. The Bonds are, of

Shanghai: 13 deaths. course, paid off in sterling in

Dairen 1 case. London, as is also the interest.

Warranta

were

The meeting terminated with

that Dividend ready for issue.

In addition to the chairman those present were: Messrs. S. J. Jordain (Director), A. C.. Howell (Secretary), and E. M. Raymond,

Benga

E. J. Ainsley, H. Hampton, A. W H.K. Steamboats

H.K.

Do

Insurances......M.. $50 nom. .. Yangters Chins Underwriters ......3210 sel. Okins Fire Insurances...$285 buy.

Fire in

...$775 nom, $17 nom. .$25; sel.

$1.60 Brown, H. J. Ribeiro, Leung Po-Indo-China (Pref.) 850 buy. shan and D. K. Kharas (skare--

(DAL) ...$70 nom. holders).

Shell Transporte ... ..17. nom. Union Waterboata......... nom. Benguete. Kaban Mining Admin...68/9 nom. Your directors have been pleas-Lanksta (combined).....Tia 14 nam, ed to appoint Mr. S. J. Jordain as the Company's Manager, and Mr. Brown as the Secretary I should like to take this oppor- unity of expressing the thanks and appreciation of your directors and the shareholders for the excel lent work done by the Manager and his Staff.

nom..

Do. (single)Tls, 7 nom. Bhat Explorations ...... Bhangusi Loans....... 44 mil.

.......$8. nom. 1ronoh Munc17/0 now. H.X. & K. Wharfs...... $13.1 L K. & W. Docks......... 35 buy. Ching Providents...... §4.10 sol., 4 xa.-

Tis. 188 nom. Hangkaws

Do.

An increase in floor apace has alse been obtained by an extension of the Mezzanine. This extension does not entail extra rent, and the cost when spread over the period of the Company's Lease makes the extra area very cheap indeed.

During the year we have rented

I now beg to propose that the from the Dairy Farm, Lee & Cold Storage Co., Ltd., their kiosk at Report and Accounts for the year Repulse Bay, where our customers ending February 28, 1929, as pre are served with cold meals, refresh sented, be adopted, and shall be shareholder will ments, and ice creams, and, "judg. glad if some ing by the support we are receiv- second this proposal. When this ing, it is evident that we are mort has been done I shall be glad to ing a long felt want by those who answer, to the best of my ability, patronise the Repulse Bay Beach any question shareholders may

I am very pleased to be able to wish to ask, report that the Realty & Trust Co., Seconding the Report and Ac Ltd., have very kindly seen their counts, Mr. Stevenson said that K. Tramways $18.36 buy,, 181 m.

that Peak Trams (old) $11.80 x div. bay. way

to reduce our rent for a shareholders would agree

10. period of one year as from Sep- there had been an improvement over the working of the previous tember, 1, 1928, with an option to extend such reduction for a fur-year, and they could safely look ther four months. The year under forward to greater achievements review has had the benefit of that next year. reduction for six months.

Cartied unanimously.

Other Business.

Mr. Manuk was re-elected a Director of the Company, on the proposal of Mr Berard Brown seconded by Mr. Ainsley,

Motor Business Increasing. We are gradually developing our Motor business, and have at the moment the most up to date plant and equipment certainly in South

Messrs. Linstead and Davis, the Chins, if not throughout the Fag East. We are now making ar- Auditors, were re-elected for the rangements to give motor servloe to ensuing year at a remuneration of our clients in Kowloon," and, in 81,000, on the proposal of Mr. seconded by Mr. conjunction with our friends, the Macfarlanc, Dairy Farm, Ice & Cold Storage Kharas. Co., Ltd., we shall shortly be tak the Peak Garage. ing over

Your directors feel that we have at last successfully tided over the worst period in the history of the Company, and we now can, with our being her party look far ward to a better future.

(Oontinued on next Jolin).";

New Engineerings. Tis. 5.85 bay, 6 sel. Shanghai Dooks 115, 128 buy. Ewo Lotions... T. 12,65 buy. Oriental Cottons.........Tim. 2.05 bay. shai, Cottons (old). Th. 677 buy.

(new)..

TI, 30 nom, H.K. & N. Hotels ... $8.70 bay, 8.89

-------..............$62† nom. E.K. Landa

......fi. 141 buy, Shangha

$13) sal. Humphreys Estates....... EE Realties871 bay., 71 sal.

Laude

(new)...$0.05 x. div. nom. Star Ferries................... $68

in Idghir, Cam. Bight

BOTE

$13.80

buy.

>,

Do. Ex Bights 31225 buy. Do. Highis $7.90 buy. H.K. Electrice $55 way; 553 sei, & ma2, Macao Electrics $164, Sandakan Lights...bel.... Telephones........ Clans Buses T. 14 Bingapore Tractions....11/3 se...

(Pret)......18 nom. Chias Saga 80 ct, bay.

Bugars Abon

27.nom; Canton Ice $1.80 bay. Cements (combined)

16.101

FOO

Do (old) ......$73 nazi. Do. (now)....31.40 Those present were: Mr. M. FLX. Bop 7 |

.......... $5 boy.

Manuk (in the chair), the Hon. United Mr. W. E. L. Shenton, J. T. Dairy Farms....... Warren, E. M. Raymond (Lifec- Walions tors), S. J. Jordain (Manager), Der & Wings A. W. Brown (Becretary), and W Lane Crawford Stemangan J. Ainsley, Prokintosh... Bernard Brown, W. Macfarlane, Ger

**

19

$12inom.

80 cta, buy,

18 boy

EX sei.

and D. K. Kharas (shareholders). (Continued at foot of nest colum).

ILLEGAL DISTILLING.

SHARP FINE ON "EXPERT "

Before Mr. E. W. Hamilton at Central Magistracy on Saturday, the "case was concluded in which three employee of the Yu Lung Distillery were charged with fer- menting material at the distillery in unauthorised receptacles Hír Worship imposed a fine of 8250 or in default three months imprison- ment for the are too (the distilling experty.

The remaining two defendants, who were fokis at the distillery were sentenced to imprisonment until the Court rose.

His Worship prior to passing sen- tence observed: Why the time of the Court has been wasted like this and the three defendants. not put. in the witness box, I can't im agine.'

*

In his submission to the Magis trate at the close of the prosecu tion's case, Mr. Hin Shing Lo, who defended, said that the three de- « fendants before the Court were, what he might term, innocent agents. Mr. Lo submitted that the Magistrate had power to discharge the men if he found the offences trifling, and the offences, he argued, were trifling. The licensée of the bring before the Court. distillery was the proper man to

In passing sentence. His Worship observed that he was convinced that the first two defendants had guilty..... knowledge. He was dealing with them leniently because they had been in custody for almost a month. The whole offence was perfectly clear, said his Worship. The de- fendants were running through the extra mash and had smuggled out the products.

TO-DAY'S WIRELESS

PROGRAMME.

BROADCAST BY ZB.W."ON 250 METRES.

1.48 p.m.-Weather report. 5.30 to 0.30 p.m.--Programme of Chinese music. (Victor records sup- plied by The Music World Co.). 7.43 p.m.-Evening weather .port.

8 p.m. Evening programme, (Columbia records supplied by Messrs. Anderson Music Co.).

10.30 p.m.-Close down.

W. Powells.az

ELE. Antonsenta 2009 (29) buy FLE. Constructíone ís „„R'cne. Indna G.3Bala. H.K. Górt, Taka............

zainominal

2011. prom, buy