1930-09-24 — Page 6

Suppose your wife

read

this!

A woman is not necessarily a shrew because she can express herself with fluency on matters upon which she feels strongly. The personal appear ance of her menfolk is one these matters, and alas! men often fall short of the woman's ideal standard where clothing is concerned..

If your wife read this she would support every word we've said, "Haven't I said so often? "That old grey hat of yours, for instance. Not

fit even

Why don't for gardening in.

you

and so on.

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Mackintosh's

COATES' ORIGINAL

PLYMOUTH GIN

IS THE BEST DRY GIN FOR COCKTAILS.

Sole Agents:-

|CALDBECK, MACGREGOR & Co., Ltd.

(Incorporated under the Companies Ordinances of Hong Kong.

PRINCES BUILDING, IOE HOUSETREET.

TO LET.

Promptly 67 A & B, DES VEUX ROAD CENTRAL, DAVID HOUSE, Whole or Partly, Premises Now Occupied by FIAT Garage.

For particulars apply in

A. GOEKE & CO.

WHITEAWAYS

MEN'S OUTFITTING DEPT. NEW STOCKS MEN'S SHIRTS: REMARKABLE VALUE.

These Shirts are well cut and made by one of the finest factories in Englaud. Nent striped designs in fast coloured prints. Collars to match each Shirt. Latest Etyles.:

$7,50

$7.95

NEW TIES NEW PILLOVERS,

NEW SOCKS,

EACH.

NEW MUFFLERS.

INSPECTION CORDIALLY INVITED.

NETT PRICES.

TERMS CASH.

WHITEAWAY. LAIDLAW & CO., LTD.

HONG KONG

HONG KONG DAILY PRESS, WEDNESDAY, SEPTEMBER 24, 1930.

LOCAL COMPANY MEETINGS.

DAIRY FARM, ICE & COLD. STORAGE CO., LTD.

INCREASE OF CAPITAL AUTHORISED.

The increase of capital of the Dairy Farm, Ice and Cold Storage Co., Ltd, na advertised recently was authorised at a meeting of shareholders held yesterday at Ex change Building.

There were present: Mr. J. F. Warren (Chairman), Messrs. T. E. Pearce, A. B. Stewart. A. Steven san, and Hon. Mr. J. Owen Hughes (Directors), Mr. M. Manuk (Secre- tary), and the following share holders --Messrs. O. L. Ribeiro,, B. W. Bradbury, W. Lum, Chan Nai Pun, Chan Pan Kow, and Dr.,

W. V. M. Koch.

"The Resolutions.

The resolutions were as follows: 1. That the authorised capital of the Company (which is now $1,500,000 consisting. of 200,000 of the nominal

HONG KONG & CANTON ICE MANUFACTURING CO., LTD.

Directors Teen.

At the ordinary yearly meeting of the Company held on February 1, 1824 it was duly proposed and seconded and unanimously passed.

SMALL CONSUMPTION. OF ICE that the fees of the Directors be

IN CANTON.

The ninth annual meeting of the Hong Kong and Canton Tee Manu facturing Co., Ltd. was held yes terday at Exchange Building,

› Mr. J. P. Warren was

in the

chair, and supporting him were Messrs. Ho Kem Tong, A. B. Stewart, Leung Yen Po (Directors), and Mr. M Manuk (Secretary). Others present included Mesars, A. Stevenson, A. Macfarlane, Chan Nai Pan, Chan Pun Kow, and the Hon. Mr. J. Owen Hughes,

Addressing the meeting, the Chairman said:—

Working Pro

of $15,408,55. Gentlemon,--The report and ac counts having been in your hands for some days I shall with your permission take them sa read. The auditors report reads as follows:

"We report that we have audited the balance sheet, with, the books, and vouchers of the Company in Hong Kong and have obtained all the information and explanations

shares fully paid are all of which we have required. In our opinion

value of $7.50 per have been issued) be increased from $1,500,000 consisting as aforesaid to $2,250,000. (consisting of 300,000 shares of the nominal value of 37.50 each) by the creation of 100,000 additional new shares of the nominal. value of $7.50 each.

the above balance sheet is properly drawn up, so as to exhibit a truc and correct view of the state of the company's affairs on July 31, 1930, according to the best of our information and the explanations given to us and as shown by the

books of the company.

"Shameen Lot No. 20 is still held in trust by the Dairy Farm, Ice and Cold Storage Co., Ltd, pend- ing formal transfer to this com pary."

2-(a) That 50,000 of the anid .100,000 new shares be offered forth- with (ip the proportion of one new share for every complete number of four issued shares held by them, respectively) to the persons who on the 23rd day of September, 1930,

During the period under review are registered in the Company's

as stated in my speech last year, Share Register as the holders of

we made various attempts through the said 200,000 issued shares at

various channels to improve the sale a premium of 7.50 per share and

of ice, and I am glad to say that. so that on acceptance of the offer

we have now arranged the distri- the nominal valve de in respectbution through the Dairy Farm, Ice of such new shares plus the said. premium of $7.50 per share (making 315 per share) shall be payable in full. Such new shares (when allot ted) shall rank for dividend as from January 1, 1931, and in all other respects pari pussu with the shares constituting the Company's present issued capital,

(b) That such offer as aforesaid be made by notice specifying the number of new shares to which the offer if not accepted by the member either on behalf of such member or hia nominee will be deemed to be declined and that the Directors be at liberty to fix such respective times and to extend such times to such date or dates and upon each terms as they may think fit and fur- ther that any of the said 50,000 now shares which shall not be taken up by the Company's shareholders in manner aforesaid be disposed of in such manner at such time or times and upon such terms as the Company's Directors shall in their absolute discretion see fit...".

(e) That no shareholders shall be entitled to claim for a fraction of an additional new share in respect of any odd share held by him.

raised from $1,000 to $1,300 per annum for each Director, and 82,500 for the Chairman of the Board of Directors. The proposer at that' time pointed out that the thea scalo of remuneration had been in force

for over twenty-one years.

Ever since 1994, and in pursuance of the resolution of the general. meeting above mentioned, each Director has been receiving $1,500 per annum and the Chairman $2,500 per annum. The Company's solici- tors have advised that, although the resolution above: mentioned would be valid as evidencing an intention to increase the Directors' remuneration, it was not in legèl; form in so far so it purported to give a fixed sum to each Director," as this would be contrary to the provision of Article 95.

is to re

The object therefore of the prò- posed new Article 95 gularise and to give effect to the resolution of the shareholders in 1924 which has been acted on ever

since..

4..

An Unusual Clause. Article 18 provides that no per- son shall be entitled to be regis-. tered as the holder of more than 8,000 shares of the Company. This clause is rather unusual in articles. of public companies in this Caloný, and your Board considers that no useful purpose will be served by retaining it. It is therefore pro- posed, to delete this clause from. the Articles, and it is also proposed to amend by removing the restric- tion on voting in Article 10.

The proposed Article 92 (a) ia new. Its provisions are to be found in many articles of public companies. in this Colony, and your Board con siders such provisions useful for our Company.

I do not think there is anything further with "which I need deal but if any shareholders desires to and Cold Storage Co.'s compra-

but any questions, or seek any ex- dore, and the results so far have plazation, I shall be pleased to justified the step taken and we hope answer such question, and to give to be able to show better results auch explanation, to the best of my next year. The consumption of ice

ability.

Resolution Passed, in Canton is very small as the average householder has not yet Proposed by the Chairman and learned to appreciate the benefits.seconded by the Hon. Mr. J.-P. of icot for the preservation of food; Braga, the resolution was put to the sale of ice to householders is, the meeting and unanimously pass therefore, practically nil.

You will observe from the ac- counts that during the year we made a profit on working of $16,498.56, but the whole of this arount has been appropriated as ehown in the profit and loss ac conat and a further sum of $1,918.03 utilised from the balance brought forward from the last- statement of accounts after the re- "duction" of the capital, thus leaving. £7,483.57 at the credit of proft and loss account to be carried forward to next year's account.

For the first time a provision bus been made to yay the Directors and the General Managers. The General Managers have not exer- cised their right to collect the full annual fee of $1,800 in respect of office expenses,

During the year, Mr. Coxon hay-

(4) That the remaining 50,000 now shares constituting the Coming left the Colony, Mr. A. B. pany's unissued capital be issued Stepart was invited to fill the at such time or times in such | vacancy. manner and for such purposes and upon terms and conditions in every respect as the Company's Beard of Dífectors may decide.

The plant and machinery is main tained in good order and condition.

With these few remarks I beg to propose that the report and ac- counts as submitted be adopted and passed

Mr. A. B. Stewart and Mr. Ho Kon Tong were re-elected to the Board of Directore Messrs. Percy Smith, Seth & Fleming were re- elected auditore for the ensuing year.

Chairman's Speech, Addressing the meeting, the

The report and accounts were Chairman said:-

seconded by Mr. Ho Kom Tong and Gentlemen,-A few words of ex-passed unanimously. planation are perhaps necessary as to the reasons which have prompted your Directors to recommend the proposed increase of capital and the number of shares to be offered to shareholders The company's capital was last increased in 1922, since when its business and turn- over have considerably increased, necessitating the expenditure of large sums of money on buildings,, machinery, cattle, etc., in fact, our

HONG KONG,"CANTON & MACAO S.B. CO., LTD.

capital expenditure hiring the last CHANGES IN ARTICLES OF

-ASSOCIATION. §.

five years has exceeded $1,000,000.00 It is not desirable nor is it sound policy to continue adding to our assets and extending our business At an extraordinary general meet- by borrowing extensively from our ing of the Hong Kong, Canton and bapkers whose assistance in this Macao Steamboat Co., Ltd., held way has been much appreciated. In yesterday at Queen's Building, a the opinion of your Directors the resolution governing amendraents time has arrived when an increase to certain of the Company's Articles of capital is fully justified. It is of Association was unanimously estimated that the saving in interest passed. In explaining why the re- next year will amount to about $1 | solution was not to the meeting,,the per share on the new issue; there Chairman, Sir Robert He Tung, fore, we anticipate no difficulty in said: maintaining our usual dividend oa the increased capital.

You will observe from the notice just read out to you that it is pro posed to lasus at once 50,000 fully paid-up shares out of the increase of 100,000 shares which you are being asked to authorise, and to hold over the remaining 50,000 shares until such time as a further issue of capital may become neces sary

Gentlemen,As indicated in the notice which has just been read by the Secretary this meeting has been convened for the purpose of considering, and if thought fit, ap- proving certain alterations in the Articles of Association of the Com- pazy

The nature of the alterations has been fully set out in the notice, and it is unnecessary for me to go through each clause in detail But in order to prevent any misappre hension I should like to explain rather more fully the reason for substituting a new Article 95 în the place of the existing one.

It is further proposed to offer thieso 50,000 shares to present share holders in the proportion of one new share to every four old shares at a premium of 37.50 per share, viz., at $15 per share, and to call Under the existing Article, the up the amount due by December 24, Directors are to be paid at the 1030, so that the new issue shares, rate of 80,000 per annum, and such as from January 1, 1931, will rank further sums, if any, as the Com- pari pasu with the old shares for pany in general meeting may from dividends and other benefits, time to time determine, such re-

I am glad to say that the Communeration to be divided among

pany is doing well and the future is promising

I now beg to propose that the resolution read out by the Secretary be adopted.

This was seconded by Mr. B. W. Bradbury and passed unanimously

them in such proportions as they may determine, and in default of such determination, equally be tween them. In 1924, the number. of Directors was nine and the proce tice had been to divide a BU, between the mne director

cd.

KAIPING HOUSEHOLD COAL

In Lots of not Note Reduction In Prices.

less than

-ton Delivered to Peak District (above Bowen Road), $23.00 10 per ton.(9) Delivered to Bowen Road

and Lower

Levels, $21.00 per too. Delivered to Pokfufum Boad, $23.00

par fon

Delivered lo Kowloon, $19.00 per ton.

For Price Apply to

Orders should be sent _in_writing not by telephone at least 24 hours before the Coulis required.

All orders must be` að--

companied by Cash, Cheque, or Compra. dore Order payable to The Kallan Mining Ad- ministration.**

THE KAILAN MINING ADMINISTRATION

DODWELL "& 00., LTD. Agents, Hong Kong......

Parfumerie Rigaud

Flacons de Luxe

Un Air Embaume Le Lilas de Rigaud

PARIS

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AGENTS:

VICENTE ATIENZA & Co.

No. 54, NATHAN ROAD, KOWLOON TEL. 571552

Batchelor. C. A. du Roz, M. K. It was explained that the resolu- Lo, Li Tse Fong, John Arnold tion will have to be confirmed at (Secretary), and H. C. Mac- a further extraordinary general | Namari. meeting, which has been fixed to be The shareholders present were held on Tuesday, October 21. Messrs. M. Fernandes, Tai Tung Supporting the Chairman were Pui, o Kom Tong, Ho Leung, Ho the following Directors: The Hon. Po Sang, Wai Tai, Kwin, Suen, Mr. J. P. Braga. "Messrs. R. K. and M. H. Lo

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