1930-03-19 — Page 6

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HONG KONG.

THE HONG KONG DAILY PRESS, WEDNESDAY, MARCH 19, 1930.

HONG KONG TRAMWAYS, LIMITED.

CHAIRMAN'S UNABATED CONFIDENCE IN TRAMS

AS AGAINST THE MOTOR 'BUS.,

RECEIPTS DOWN BY $300,000 AND HEAVY EXPENSES.

NEW 'BUSES AND TRACK IMPROVEMENTS.

At yesterday's meeting of the Hong Kong Tramways, Limited, the Chairman, Mr. B. D. F. Beith, said that traffic receipts were three lakts leas in 1920 than in 1928. A dividend of $1 per share was declared for the year. The Company's efforts to obtain more remunerative 'bus routes had not been successful, and the takings from the Kai Tack Company's 'buies (of which the Tramways assumed control on January 1, 1929) had not come up to ex- pectation.

In spite of the difficulties of the past year the Chairman ex- pressed unabated faith in the tram-car as against the motor-bus and gave several interesting extracts in support of his assertion "that the policy of replacing trams by 'buses was a dangerous

fallacy.

YEAR OF BIG ENTERPRISE.

"Kal Tack Motor Bus 00.

At this meeting last year I re- ported that your Company na from January, 190, had assumed con- trol of the Kai Tack Motor Bus Co. (1998), Ltd., operating in Kow- loon. The capital of that Company has passed into the ownership of the Tramway Company and your Directors now constitute the Board of the Kai Tick Company. As re- gards the operation of this business since the advent of our control I could say that receipts have not proved as satisfactory as expected. This, however, is mainly due to the fares on our route No. 4 (Kow loon City-Yaumati Ferry) being too low and although your Board will refrain as long as possible from increasing fares such a course-in, the case of the route referred to-- may become necessary. A new route (No. 5) has been opened and in the summer monthe-we are called upon to provide à service. between Star Ferry and Tai Wan Beach.

Purchase of New Buses.

For the service of these additional areas "eight new buses were pur- chased during, the course of the year. Including the former 10 pas- senger vehicles the Company how has a total of 24 (Dennis) motor 'buses. Depreciation provided against motor 'buses, especially in the case of the old fleet, has been THE CHAIRMAN'S SPEECH. |ject as biased and prejudiced by a heavy item of charge in the ac- reason of the fact that the Comcounts, and, in addition to certain The Chairman addressed the pany's main source of revenue is interests costs incurred in financing meeting as follows:-In my speech derived from electric traction, but the new expenditure, has absorbed. a year ago I called attention to the when I tell you it in estimated that the surplus earned on working. decline in the traffic receipts dur, had the 27,000,000 passengers which There is accordingly no return from ing the last quarter of 1029 and our tram-cars carried last year heen this source for 1929. Although the after explaining the causes I said | carried (at the same Inres) by results for this frst year of our Kai Tack operation are disappoint should these adverso factors con-motor 'buses instead of tram-care tinue shareholders will realise that not only should we not have hading. I feel able to say that given

development of the tramway receipts in respect of over seven lakhs profit" but we, continued the present year will be less than should not have made sufficient routes the prospects of this invest

Iment are not discouraging. profit to pay any dividend. during the year under review."

trust, therefore, that you will agree with me that the matter merita a Traffic Receipts Less by Nearly

thorough and full investigation and I make no excuse for the four rather lengthy references which follow-

Three Lakhs.

It is my unpleasant duty to in- form you that those adverse factors

have continued with a result that our traffic receipts for the year 1999 are less by nearly three lakhs than for the year 1929.

A

Qu:

I have been asked to make statement concerning current rumours as to the acquisition by this Company of the Hong Kong Hotel Motor Garage business. Preliminary

negotiations with such an acquisi tion in view commenced a few days Anglo-Argentine Tramways Co. (a.)The Anglo-Argentine Tram-ago and it is proposed at an early date to take the opportunity of Efforts were made during the ways Co., Ltd. (which comprises placing before shareholders a full the greater part of the Tramways statement of the position and to year to obtain the necessary autho-

of Buenos Aires) is one of the

consider certain proposals.. rity to run our buses of less un-

greatest Tramway concerns in the remunerative routes of the Colony world, operating as it does nearly but I regret to say without meet-13,000 vehicles over 420 miles of ing with much success. We have track. They commenced operating however, commenced a new motor bus service between Blake Pier & service of motor buses in Jan- and Taikoo East Gate vid Queen'sary, 1927. The Chairman of this Road East and Leighton Hill Road gigantic system (which carries over 550,000,000 passengers per annum) and although this service in itself admitted at their last annual gen- is not remunerative it provides a

were heing operated at a loss. much felt need and affords greater eral meeting that their 'bus servises facilities for our patrons living i the outlying districts of Quarry Ray, which can now be reached by 'bus in very much quicker time than by tram.

During the year ten more ears were fitted with saloan top covers bringing the number of cars so equipped to 64 and orders were placed in England for the latest type of truck (or chassis) for 98 tram-cars so that to-day we are in the happy position of knowing that every truck that came out with the original tram-cars has been scrap- ned and replaced by the most up to-date truck obtainable.

Glasgow and New York. (b.) The Glasgow General Omni- bus and Motor Services, Ltd.. which started with such a flourish of trumpets in 1826 made a loss for the year ended September 30 last of £23,216 with the result that the £1 shares have dropped to about eight shillings.

operates

The Balance Sheet. Turning to the balance sheet and accounts before the meeting.

A new head-Motor Transport Investments-appears in the state- ment of assets set out in the balance sheet. This takes the place of the former item Motor Bus Account"

and includes the investments in the Kni Tack Company previously re- ferred to.

"With the exception of this item

earnings, the accounts are presented in their usual form. Trafic amounting to $1,600,201.30 show a decline of $208,504.83 from the figure for the previous year and this, due largely to motor 'bus com- petition, I have already mention- ed.

KAIPING COAL

FOR HOME, FACTORY, & POWER HOUSE

HOME FACTORY AND BUNKERS

POWER

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LOCOS.

THE KAILAN MINING ADMINISTRATION DODWELL & CO., LTD., Agents, Hong Kong..

NINETY YEARS OLD!

Anniversary Sale.

In Celebration of the 90th Anniversary of our Entering Business, a SPECIAL REDUCTION will be made for Cash Sales from MARCH 15 to 28 inclusive.

Inspection Cordially Invited.

KWONG WOO,

Wholesale Silk Store

Dealer in Jewellery, Jade and Gold and Silver Ware, 66, QUEEN'S KOAD. CENTRAL.

Including the item of interest and investments return in the profit and loss account the total income for the year amounts to $1,524,301.72 against 31,935,914.34 for 1929. On the other hand; the working, ex- Repenses give favourable comparisona with last year and after charging 8146,588 for depreciation and pro- riding the Government Royalty of this may be done without the Tram-1 837,092.44 net profit amounts toway Company being saddled with 8731.783.55. This is $239,176.77 less the Hotel Company's garages, hire service cars and organisation as than for 1928,

agents for various makes of motor-

(c.)-The Third Avenue Railway- of New York is a large transporta tion undertaking which both tramways and motor buses, The following paragraph relating to the operation of this Company for the year 1029 is taken from an American Technical Journal Changes to Tramway Track.

ceipts, of the Third Avenue Rail- The tramway track has been en-

way, New York, from 'bus opera are between G.$3,000 and tirely, reconstructed between Heard tion Street and the Lee Gardens. This G.$0,000 a day. These 'bus re- was rendered necessary under the ceipts are, not included in the re- Prays East Reclamation scheme.ceipts of the railway system, only The new single track along Bow- the act from 'bus opernton appear rington Canal Road East was also ing in the income statement. Dur- completed and Lram-cars haveing the past year there were extra- entered Happy Valley vid this new ordinary expenses due to the in- track sicce July 20 last.

Further, since the end of 1020, we have completed the renewal of the rails between Heard Street and Arsenal Street and there is now a magnificent new double track "with electrically welded joints all the way from Lee Gardens to Arsenal Street.

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CORRESPONDENCE.

HEAVEN AND HELL.

The Tramway Company has be- kind it a record of good service to. [TO THE EDITOR OF THE "HONG KONG

DAILY PRESS."] the public, and I feel sure the Government will have every confid Making a total of $1 per share for

ence that in giving enlarged powers to the Tramway Company, thess the year, your Directors now recom mend the declaration of a final will be exercised. in the best in- dividend of 50 cents per share ab-terests of the community. sorbing 8325,000 and carrying for ward the balance to next year.

Including the amount of $245,789.17 brought forward from last year this gives an additional sum of total of 813,763.58-that is, a

I now formally beg to second the resolution "that the report of the Directors and statement of accounts for the year ended December 31, 1999, be adopted as presented, and that a final dividend of 50 cents per share for the year 1999 is hereby

sanctioned.

The motion was carried anani

Deducting 8325,000 for the Interim Dividend paid in August last and 868,000 written of Goodwill and Construction Expenses there re- stallation of new lines and equip-mains a sum of $338,763.58. ment. The 'buses are being depre-, cinted on the basis of a five-year life which takes care of the equip ment notes issued for a larger part

Under these con of the buses. ditions, the 'bus operation showed a deficit of 0.8297,775 for the year. "The Hailless Trolley System." Every speech from, this chair for

(d.) The Institute of Transport

its awarded

coveted the past seven years has contained

recently a reference to the long-promised Graduate Silver Medal to a Mr. A. 8959,5525-unappropriated profit 100 foot road between Causeway A. Jackson of Nottingham for his carried to next account...

Trolley Bay and Quarry Bay but very little

The Railless

There is nothing else, I think, progress has made during the year system. Its Spheres.” The last calling for separate mention and I mously. under review and it has eventually paragraph of that paper is as beg to propose:- become necessary to double con follows:- siderable stretches of our old single "For pioneer work, and operation track in addition to straightening over light traffic routes with re

Enake-like length between latively few stops, connecting main Quarry Bay and King Tuen.

thoroughfares, also for operation Altogether, since I last addressed generally where the traffic demand you, we have doubled about a mile necessitates the provision of less of the old single track on the

than 400 passenger seats per hour Shaukiwan section and have

in ene direction the motor 'bus is tended the track by about 350 yards unassailable; its adoption for such from the old Shaukiwan terminus services all over the country is con- to Shaukivan Village. The dou vincing proof. Where traffic war. bling referred to was rendered abrants a service giving between 400 ask solutely necessary by the great in- and 1,000 passenger seats per hour crease in the number of passengers in one direction, with a corrce- who on every hot afternoon in the ronding increase in the number of bathing season-desired to patronize passenger stops per mile, and the bathing beaches between North particularly over routes containing Frank Austin said :---- Point and Quarry Bay With' a severe gradients there appears to single track we were unable to cope be mound reasons for seriously, con-

I rise to second the adoption of satisfactorily with this traffic.

sidering the adoption of railless the report and accounts. Although trolley vehicles. Routes requiring the first year's working of our services giving over 1,000 passenger motor buses has not beea financial- sents per hour in one directionly successful, I am a strong be liever in the Company going for would seem to be the realm of the tram-car running on double track, ward on the policy of acquiring and expressions made recently by and running services of motor eminent authorities on the subject buses both on the Island and in of road passenger transport in Kowloon. In Victoria the Company dicate that the high value of the is in a particularly good position to in dealing safely and combine, the running of motor buses

ex-

'BUSES v. TRAMS. The Economic Viewpoint. Before touching on the accounts I feel it my duty as your Chairman to sound a note of warning on the vaxed question of "Buses Trams" aa from an economic view point.

OTHER BUSINESS.

SIR-I wish to thank you for the entertaining account of, the Cathedral address and subsequent discussion regarding the nature of heaven, hell, and purgatory.

Unfortunately, it leaves me more bewildered than ever instead of feeling enlightened!

"That is not the fault of your re- porter, but the inevitable result of discussion of a subject about which we can know nothing, though we may believe anything.

The Rev. G. K. Carpenter takes a very kindly view of the future. The idea of eternal punishment

that..

"That the Report of the Direc The appointment of Mr. Chao Po must be banished from our minda tors and Statement of Accounts Sien as a Director in June last was I am with him on this point, with 28 presented for the year ended confirmed, and the retiring Directhe further comment that such an ed to enter our heads, but the December 31, 1929, be adopted tors Mr. A. H. Compton and Mr.ides should, never have been allow- and that a final dividend of 50 J. E. Joseph were re-elected on cents per share for the year 19 the motion of Mr. Stuart Smith Bible is largely responsible for is hereby sanctioned."

and Mr. J. Wright, junior." On the Purgatory, too, is apparently a When this "resolution "has been proposition of Mr. FH. Crapnell state of mind, and not, the horrible seconded by Mr. O Kitchell, place described in such detail by seconded I shall be glad to answer to the best of my ability any ques Messrs, Lowe, Bingham & Matthews such boy men as St. Augustine and tions that shareholders may wish to

St. Thomas, Obviously they knew no more about the subject than we, do.

MR. AUSTIN'S BELIEF IN "TRAMS AND 'BUSES.” . In seconding the resolution Mr.

In some quarters the view has tram-car been expressed that a sure panacea economically with heavy traffic de- with its tramway services and I for our present, diminution of pro-mands is being more widely recogfeel the policy of the Board in negotiating with the Hotel Com- fits is gradually to substitate motor nised." 'buses for traut-cars. This, in your Between the Western Market and pany, for the purchase of its motor Board's opinion, is a fallacy pregnant Percival Street (Wanchai) we pro-buses and franchise should be en- with alarming possibilities. The vide an average of about 2,600 dored by shareholders, provided public and others quite naturally passenger seats per hour in each this this can be effected at a rea sonable price. Also I trust that may regard our views on this sub-direction.

were re-elected auditors,

HARBOUR COLLISION.

JAPANESE STEAMER AND

JUNK INVOLVED./

A collision in which a Japanese coal-steamer and a trading junk were involved, occurred shortly. after 6. p.m. on Monday evening off Wanchai..

But just where do we stand in regard to heaven I cannot follow Mr. Carpenter's reasoning at all. Bible accounts are described a allegorical. Very good-but what then I have tried to picture Mr. Carpenter's idea of heaven, but find it impossible to do so.

The question of "place" does not matter, yet it must be a place, for spirits are going to wander According to Cheung Chung Koi, about there continuing the good the accountant of the trading junk, work they have been doing on earth. T5424H, the junk was being towed Engineers are included! A mother- by the steam launch Kwang Yick, could be in heaven and a son in owned by the Hing Kee Steam hell and yet they might be together 1. Launch Company, when the steamer Things corresponding to our pre- vided in heaven This sounds collided with her. The name of the sent social pleasures will be pro- As a result of the collision, more like Conan Doyle than any Japanese vessel is unknown. damage to the extent of something elsewhere in Mr. Carpen- 83,000 has been caused to the junk ter's authority for these interesting

CURIOUS. Fortunately the cargo of rice which forecasts Yours, etc., was being carried by the junk did not suffer.

Hong Kong, March 17.