1931-04-23 — Page 6

This is the season for

BURBERRY WEATHERPROOFS

SECURE AGAINśt wet—

As a Weatherproof, The Burberry is the world's best. Heavy rain or continuous drizzle just falls off it like water from a duck's back.

COMFORTABLE ALWAYS-

Naturally ventilating and almost weightless, The Burberry is a pleasure to wear in every kind of weather-wet or fine, cold, mild or even hot.

NEW STOCKS JUST RECEIVED,

Mackintosh's

1.

COLD STORAGE

Security

at 20 Cents Per

Cubic Foot

Per Month.

FURS ARE A LUXURY

CARE FOR THEM

OVER THE SUMMER

For Further

Particulars

Apply

HONG KONG DAILY PRESS, THURSDAY, APRIL 23, 1931.

COMPANY MEETING. held on September 10 last, when HONG KONG STOCK

CONSTRUCTION COMPANY'S SATISFACTORY YEAR.

n resolution was submitted to you for a Reorganization of the Capital of the Company. The Capital Re- duction was duly effected after all legal requirements had been com REVIEWED BY HON. MR. 1. P. plied with, with the antisfactory re-

BRAGA,

Presiding at the annual meeting of share holders of the Hong Kong Construction Company Limited, the | Hon, J. P. Braga, in reviewing a very satisfactory year, said that two things had contributed to the happy, state of affairs. The first was the great extent of building operation in Hong Kong during the past year. The second was the exercise of a rigid economy in all departments, together with the total elimination" of all expendi. ture on a gold basis. The policy had been to think and act in terms of silver dollars only.

CHAIRMANS SPEECH.

The Chairman said:- I affords your Board of Diree. tors much pleasure to meel you to

day with results of the Company's working for the past year that may be considered quite satisfactory, This is the first occasion, since the formation of the Company in 1922, that the Trading Account has shown profit, and your patience, exercis ad over a period of nearly ten years, is now to be rewarded with

aumall dividend.·

The Balance Sheet and Profit and Loss. Account give in detail the figures that need he presented to you in order that you may arrive at a correct idea of the position of your Company. There seems no need for me to comment on indivi- dual items in the Balance Sheet, although I should perhaps mention, with regard to "Sundry Debtors, Deposits, etc, Jess Reserve 840,543 6, that the whole of this sum

is well secured.

sult that your Directors have sinco been able to place before you.

0"

MARKET.

CROUCHER & CO.'S DAILY REPORT.

On the whale the market at the close yesterday remained fria, in- vestment shares still being in good demand at current rutes.

You will recall the fact that at one stage of the Company's ex- istence, not so long åge, doubts ex-

Both Lands and Humphreya ini- proved and sales took place at 888 isted in the minds of certain share.. and 817.15 but a few shares woro, holders as to whether, the Company on offer at a little.over. should go into voluntary liquidates and China. Providents were Wharfs again changed hands at tion whether another effort booked at 83.05 and Hong Kong should be made for the successfal | Electrics, 879.50, at which rate conduct of your business before

buyers prevail. winding up was decided upon. A private meeting of shareholders was held on April 22 last year to go into the question in all its bear- ings. The shareholders at that meeting decided by a large major ity to carry on. The wisdom vi that decision has been justified by. the results shown in the Reporting 866.25 for June.. and Accounts now under review.

It will be remembered by those who attended the private meeting I have just referred to, that your Directors informed the sharehold era that it was their policy to re strict the Company's operations to certain classes of work only, for the time being. We considered at the time that such a policy would' be a wise and prudent one, as in Company it might not have been the the funnelal position of the

in your best interests to embark policy, however, in the opinion of on large andertakings. That your Directors, may now be modi fied. We feel, with the improved

an in.

financial resources we now poзscus, that we are justified in recommend. ing a change of policy in substitn tion for that which restricted as to certain classes of work that may could only be secured on not always come our way and that tensely competitive basis. I need policy is made in the best interesis hardly state that this change of of ahureholders in the view and in the belief that a wider and more profitable field for the Company's endeavours will be open to us. In the absence of any expression of opinion to the contrary at this meeting, I will take it that you, in the best interests of shareholders as a whole, endorse the proposal of your Board regarding the change affecting the Company's future operations.

Tribute to Staff.

Dairy Farms were also taken al $28.50 and 86.00 and. Amusements

at the same rates.

4

Trams continue in request and 18.50 is offered for July Settle- ment.

China Lights came in for a lot weaker at 824.73 cash, which is 73 rf attention but closed decidedly

tents down on yesterday's peak,. and buyers forward are only offer

Hotels are wanted both, for cash

815 July. and forward delivery at.814,50 and.

sales at 85.10.

Underwriters

Telephones were easier on profit taking business being done at $45. buyers offering $18.50 cash.

Cements were slightly stronger

were quiet with

SHATIN RAILWAY

SMASH.

TRAFFIC MAY BE CLOSED TILL JUNE.

FURTHER VICTIMS.

Although the work on the wreck-

railway engine and carriages has londay evening, there is yet still been going on incessantly shee

a lot to be done. When interview-

ed by our representative yester day Mr. Walker, acting General Manager of the Railway, said that, everything possible was being done but he did not think there would be any train service for some time.

tion was very much the same as Mr. Walker added that the posi

of 30 coolies at work on the sectic the previous day. There is a gang

and they would remain there until the work is completed.

"We cannot do much without a crane," Mr. Walker snid, "for the

You will have seen from the Pre- fit and Loss Account that, after charging Working Account with the comparatively large sum of 816,819.67 for depreciation,, as well as. providing for Auditors, Manag- ing Director's and Directors' Fees, the profit, together with Interest You will realise that your Direc-wreckage is in an extremely awk and Transfer Fers, amounts to tors' best efforts may not be spward position, and there is a grave 857,441,65, which enable your Diree-able of achieving satisfactory risk that if we attempt anything tors to recommend.-

Bults without the loyal support of without adequate. equipment, the the Company's staff. It is gratify-lives of some of our workmen may ing for me to record that we have be lost. At present we are attempt. on all occasions received willing assistance from all members of the staff, without which it would have been impossible to present you' figures like those I have just re- viewed to you.

That & Dividend of 15 per cent. or 30 cents per share, absorbing $28,850.00, be paid in respect of the past year, and that the balance of 828,791.63 be carried forward to the credit of Profit and Loss Account for the year

1931.

Conservative Policy.

It is in pursuance of a conserva- tive policy that your Directors have decided to write so large a sum 24 816,610.57 off Buildings, Plant, Machinery and Equipment, and Motor Trucks and Junk, etc These various assets now stand in

The Dairy Farm, Ice & Cold Storage Co., Ltd. | policy I have just mentioned is the

TRADE

MARK

"KIWI is the Acknowledged STANDARD of QUALITY &is Universally. Appréciated in BLACK, TAN, PATENT LEATHER, LIGHT TAN, DARK TAN, NIGGER, OX BLOOD & BROWN,

KII

KIWI

BOOTPOLISH

BLACK

Sale Distributore:-W. B. LOXLEY & Co.

ers,

ing to cut through the fourth coach, tinue with that task.". bat I do not know if we shall con-

Bodies Bean in Wrockage, During the year)

Two bodies can now be seen in Sir Elly

the wreckage and every attempt is Kadoorie, K.B.E., was invited to, of Directors. On the departure un and Recepted a seat on, the Board being made to get them out. Whe

ther the mass of tangled wood and leave of Sir Robert Ho Tung. Et.. metal that remains of the third from the Colony, Mr. Los Cheungcoach has any more bodies pinned Shin was appointed an alternate beneath it in difficult to say.

Regarding the

washaway nt

had already started work, but much, Shatin, Mr. Lambert, Chief Engin- eer for the Railway, said that they timber had to be prepared before' a real start could be, made at the

director in his stead.

men, has seconded, this motion, 7 After any one of you, Gentle- shall be happy to furnish any fur- ther information relating to thes Accounts, if questions are submitted to the chair in connection there with.'

are

The sponker added that unless the work, turned out to be easier than it appears, there is no hope of the service being resumed before June,

stated that the engine driver had In our report yesterday, it was succumbed to his injurica but this was incorrect, An inquiry was ado at the hospital by our repre sentative and that was the infor mation given by a responsible per son there.

the books of the Company at figures summarised to you all the import

Gentlemen, I think I have fairly considerably below replacement ant features of last year's work cost.

In view of the rapidly de-ing resulta incorporated in the Ra teriorating nature of the "Com- nort and Statement of Accounts pany's equipment and appliances, for 1030. I now move that the Re-actual washaway, I hope you will, agree that the

port and Statement of Accounts na It will be better for us to make presented he adopted and passed, about it," continued Mr. Lambert

a full job of it, while we correct one, rather than the pay that a Dividend of 15 per cent, on ing away of a larger percentage of profit in dividend to sharehold

the Issued Capital of the Company do, for it will have to stand the "Parely temporary repnirs will not (as reduced), or 30 cents per share, weight of heavy breakdown equip You will probably like to be in

be declared in respect of the year formed as to the factors contribut

1930, and that the balance at credit ment which includes our special ing to the satisfactory result

of Profit and Loss Account for tho

crane weighing 84 tons." achieved during the past year.

past year, less such appropriation, There were two main factors in-

be carried forward to the credit fluencing these results. The first of Profit and Loss Account for the was the great extent of building year 1931. operations carried on in long Kong; and the second, the rigid economy in all departments and, in particular, the total elimination of all expenditure on a gold basis, even where salaries of the technie al staff were concerned; for it must be remembered that the Company's earnings are all in dollars, Ex cept in the case of certain materi: als used in certain classes of work which we have to undertake and into which the gold factor enters, Four Directore practical policy has been to think and act in terms of silver dollars only, always, how. ever, hoeping in mind the inevit able contingency of sterling oblige tions in the matter of replacement of plant and appliances. We will continue in your interest to pursu Mesara. J. Scott Harston and this policy. At the same time, 1J. T. Bagram, were re-elected direc think it is due to you to state that tors, upon the motion of Mr. M. A. the present abnormal building ac. Figueiredo, seconded by Mr. A. II, tivity may not be of long duration Basto. and that remunerative contracts Mesirs, Lowe, Bingham and Mat- may_not always be within the thews were re-vjected auditors to Titans of your Company to secure. the company, Mr. A. A. Botelho, We must be alive to the fact that who made the motion, being second competition has to be faced, and ed by Mr. M. A. Gomes. with its growing intensity, profits

In rising to second the motion Mr Joseph Gould congratulated the Board on the improvement. The Company had passed through a very trying time but waS TO OD It sound footing.

Other Busine

The appointment of Sir Elly Kadoorie, K.B.E., to the Board, was confiral, on the motion a Mr. M. H. Lo, seconded by Mr. A.. Zimmern.

Those Present.

:

|

Relief Fund,

A relief fund has been started by few prominent Chinese business- men and we have no doubt that this will receive the generous support of the public...

THE YUNNANFU MURDERS.

SUSPECTS ARRESTED.

[FROM

OUR OWN CORRESPONDENT.}

YUNNANFU, April 8; Detectives assigned to the case of the slaying of Mrs. Miller, and Mrs, White returned to Yunnanfu Sunday evening, April 6, with the suspected ring-leader of the gang who perpetrated the ghastly crime. are likely to bo proportionately re-

Three or four, others were taken duced. On the other hand, every Supporting the Chairman were within a day or two of the murders. effort will be made to retain valued Messrs. J. Scott Haraton, J. TThey have, insisted that the most clientele with which we maintain Bagram, Lo Choung-shi (directors), recently seized culprit was the one friendly and profitabile connections. Mr. A. R, F. Raven, (technical ad- who really did the killing. Ko is

Important Decisior.

viser), and Mr. B Alves (secre-reported to be denying it. At any tary.)

The year under review is notable Shareholders present were Mesars, for an important decision, affecting | M. H. Lo. A. Zimmern, A., A. the Company This dechtor wast Borolhar M. A figueiredo, M. §. arrived at at an Extraordinary Gomes, Joseph Gould, and A. I General Meeting of Shareholders, | Basto,

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But it's not a New one

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THE STEAM

DRY CLEANERS!”

This usually has to be explained when clothes are returned from the DRY CLEANINO DEPT. of the STEAM LAUNDRY.Co., for we do perfect Dry Cleaning and clothes. really do look like usw-once again,

A SUGGESTION: Why not send your Winter Suits and Costumes to us, before storing, so that you can pack them away, feeling confident that they are free of motha and all insects, and with the knowledge that when you are ready to wear them again they will be fresh. and clean..

LAUNDRY CO.

SANITARY LAUNDRYMEN, DYERS AND DRY CLEANERS. HEAD OFFICE and WORKS: Moxaxox; Tol. 67039. (KOWLOON HOTEL DEPOT) HONG KONG DEPOT: 16, Stanley Street, Tel 21270, (PEAK HOTEL DEPOT PENINSULA HOTEL (Visitors only), HONG KONG HOTEL (Visitam only)

ASSETS

£13,000,000

BY APPOINTMENT

"

CLAIMS PAID

£40,000,00

GENERAL

ACCIDENT, FIRE & LIFE ASSURANCE CORPN., LTD,

A-11 Classes of INSURANCE

WORLD WIDE

ORGANISATION

AGENTS

JAMES H. BACKHOUSE

1A, CHATRE ROAD. TEL 21733,

AIR. LINK BETWEEN CHINA

AND JAPAN.

PROJECT BEING ENERGETIC. ALLY PUSHED.

Tokyo, April 17-Anticipating the inauguration of aerial services between China and Japan in the. form of an airline from Shanglint rate they can all be faced with the to Nagasaki, officials of the De charge, in a way to get at thepartment of Railways and the approximate truth. They will pro-Japan Aviation Company to-day tmbly, have a speedy trial and it is prepared-to-negotiate with Chinese hoped that due punishment will be officials for combination railway meted out.

aeroplane tickets.

Already plans have been mado to make it possible for a passenger purchasing a single ticket at Tokyo to travel by rail and acto, plane from Tokyo to Dairen. The ticket would provide transporta tiên from Tokyd to Omaka and from Osaka to Fukuoka by-train. From Fukuoka be would cross the China Sen via Korea to Dairen.

Before the end of the coming summer this arrangement is to be como effective for the convenience of tourists and other travellora. A similar scheme is to be worked out in the event of the inauguration of an airline between Shanghai and Nagasaki.