1933-04-20 — Page 6

NO BACK STUD-Saves time and temper The "SHEPHERD'Shirt

The whole point of the "no back stud' idea is its utter simplicity. You simply whip the Shepherd Collar on, fasten the front stud, and that's all! Nothing to fix or arrange. The collar can never ride up- it is held firmly to the neckband all the way round. The Shep- herd Shirt is actually as com fortable as a tennis shirt, yet as smart as the smartest shirt you have ever seen...

TWO COLLARS TO MATCH EACH SHIRT

Price from $8.50 Less 10% discount for cash.

MACKINTOSH'S LTD

MENS WEAR SPECIALISTS

EXCELSIOR

RESTAURANT

22, Des Voeux Road Central (Opp. Gov't Radio Office)

TO-DAY'S TIFFIN

Entire Menu $1.25 Any 4 courses $1.00

1 Borghtch Flotski (Vegetable Soup)

2 Potage Creme d'Orge

3 Tymbale (Fish) Frit-Sauce Tartare

+ String Beans a l'Anglaise

5 Cutlet Palkina Macedoine (Chicken and

Veal Cutlet)

6 Shneeklops (Filet and Mushroom Sauce)

Boiled Potatoes

7 Spring Chicken and Salad

8 Egg Curry and Rice

9 Russian Pancake

10 Ice cream

11

Fruit

12 Coffee or Tea

KARDEX Visible Record Cabinets Protect Your Valuable Records. Eliminate Waste and Loss. Most Visible and Efficient Signal Control. Built for Accessibility and Durability.

HONG KONG DAILY PRESS, THURSDAY, APRIL 20, 1933

CORRESPONDENCE

(All letters intended for publi- cation must be accompanied by the name and address of the writer, not for publication, unless su desired, but as evidence of good faith.—ED.] GREEN ISLAND CEMENT COMPANY

loyal customers whom we de DOUGLAS. S.S. CO.,

not wish to let down." (4) If we shut down the Public and the Building Trade will be victimised by the. foreign sup- pliers.

LIMITED

Increase in Profits But No Dividends

It now falls to consider how the winding up of the Company will affect the Colony. The first result will certainly be a rise in the price, of Cement. With no local means of supply to contend with the mar ket will be in the hands of the out- CONDITIONS BETTER THAN (TO THE EDITOR OF THE " HONG KONG side manufacturers, a fact of which

DAILY PRESS."}

its

they will naturally take full ad- vantage. They will be in a posi St.Some months ago the position to block the development of tion of the above industrial under- The Colony, of which our notabili- taking-the largest of the local in- ties talk so loudly, Their price dustries left to us--was ventilated limit will be the most the Colony in the local press, when it was de can pay. Five dollars a bag would monstrated and acknowledged that be about the mark. The seventeen unless restraint was placed on the million dollars worth of work that the Governor rejoiced in at the dumping of Japanese criment at

dinner of the Institution of En. price that made competition im ly be forced out of business. The twenty-five millions to complete. possible the Company would short-gineers and Shipbuilders will cost Government followed

usual To a certain extent the Japanese policy of masterly inactivity, no Boyoolt sus prosant helping the thing was done, the position has Company's product into China in gons from bad to worse, and li- the face of the high Tariff; but quidation is in sight in the near boycotts do not last forever, and future.

it seems that in the future the Com. For the information of that pany will have to depend on the younger public on whom the here- local demand and on Malaya. after of the Colony dopende a few Materially, the winding-up of the words as to the history of the Com. Company means twenty Europeans pany are surely in order. The added to the unemployed, three Chinese Company was incorporated in 1889. thousand hard-working It has now an Authorized Capital turned out to starve or become a of $8,000,000.00, and a Paid-Up burden on the community and the Capital of $4,390,748.00. It start-China Lights losing their best ous ed work in the first place at Green tomer,

to

PRECEDING YEARS

A profit of approximately $180,870 was reported by the Chair- man, Mr. A. H. White at the an- anal general meeting of the Doug las Steamship Co., Ltd. held at P. & O. Building yesterday. The Chairman said during the period under review there had been an of increased competition, but tha improvement in earnings in spite Consulting Committee and General

very uncertain trading conditions Managers regret that owing to the

declaration of a dividend. they were unable to recommend the

Those present at the meeting ware:-Mr. A. H. White (Chair man), Hon. C. Gordon Mackie and Mr. M. H. Turned (Consulting Committee), Messrs. C. L. Farmer (secretary), T. Ramsey, N. V. A. Croucher, S. T. Williamson, Wong Ping Bun, Chan Ming Heu and Chau Tung Shang (shareholders).

The Chairman's Speech.

In moving for the adoption and Island, Macao; but its chief fac- And taking the long view, some tory is now at Hok Un, Kowloon,few of us-industrial visionaries! Statement of Accounts, the Chair- In normal working it now employs have seen Hong Kong, as a great man said:-Gentlemen: Wo are twenty Europeans, and approxi: industrial centre, making goods for glad that the Accounts which are mately three thousand Chinese. It all the East; when British Capital laid before you show a marked is the largest consumer of electric and British Direction, utilising the improvement on those of the two ity on the Kowloon side, taking highly efficient and deserving na-proceeding years. The Consulting about one third of the output of tive labour available have made of Committee and General Managers the local power station in 1932. this Colony what it ought to be regret that owing to the very un- Of late years the Company has a flourishing and up-to-date manu- certain trading conditions they are unable to recommend the declara- spent roughly four million dollars facturing community second on modernising the plant, nearly none in wealth and production. tion of a dividend, the finances of three millions of which has gone Now I ask you, with the lesson of the Company as will be seen are to British machinery manufactur- Green Island before him, what on in a much more satisfactory condi ers; it turns out a recognised reli-couragement has the capitalist tion but it is considered that the able brand of cement; and is now manufacturer to invest his money values of the Company's properties should still be substantially writ organized to meet any opposition in Hong Kong to-day 1 working on

ten down, provision has also to be basis. Owing chiefly to the fact

made for further tonnage suitable that it is situated far from the

for our trades. supply of the raw material it has never been a gold mine, but it has managed to carry on and pay its long-suffering share-holders divi- dends averaging over the past eight years 2.39 per cent.. And it has always writton down' its property and plant in accordance with the recognised principles of sound busi- ness practice.

&

Bound economic

The political point of view also deserves consideration. In case of war the great need of the military engineer is an unlimited supply of cement. If the Colony was ever in danger of attack there would be the usual wild rush to do the things that should have been done in peacs time, and fortifying the fron- tier and the Southern slopes of the New Territory ranges would be one gun of them. This would mean emplacements, pill boxes, dug-outs. That is the story so far. A most trenches-all the horrible box of necessary if not flourishing indus-tricks. Is it to be presumed that try has been built up; a producing our power-that-be have business, a credit to the Colonyantee from our foreign friends to a business that with the necessary meet our needs for cement in such protection can carry on, but with an emergency, for without cement out that protection against unfair such works would be a joke and a competition must inevitably go to death-trap to their defenders. the wall.

are we like China, to depend for For the patience, even of Hong our defence on the talking-shop at limit, Geneva and find ourselves, again Kong share-holders, has a and that limit has been reached like China, in the position of those Especially as at the present june who are too tired to help themselves, ture it would pay them to liquidate-in the soup! rather than carry on getting deeper With the Old Country and all and deeper in the mire, as the fol- her Colonies doing their bit lowing figures provo:-

Value of the Company's

MACAO

Buildings and Plant Write off say 50 per cent.

HOK UN:--

Old Buildings and Plant

New Buildings and Plant

Less 50 per cent......

Hok 'Un :-

Land at 84 per square foot Deep Water Bay Property

Stocks at Cost

3" guar-

Or

to

tide themselves over the crisis sure- property for liquidation "assets :—, Assets.

8 558,510.18 270,225.08

$4,000,000.00

$279,223.09.

13,876.00

2,000,000.00 $2,000,000.00

Dredger and Clay Lighters

$168,079.48

Less 50 per cent.

84,036.24

Steam Lighter, Launches, Lighters

$226,010.88

Less 25 per cent.

56,632.72

Agency Balances

Sundry Debtors

Deposits

Payments in Advance

Cash in Hand

Investments

Total Ásets at date.

5,625,000,00 9,592.50 1,983,520.22

84,030.24

169,958.16 107,412.61 142,927.91 2,074,75 145,466.24 6,881.93 4,074.16

$10,584,377.80

Liabilities.

be

Messrs. Vickers, Armstrong for Machinery Sundry Creditors Hong Kong and Shanghai Bank

82,119,015.30

Entries сад made on both sides of card without remov- ing from cabinet. Is bssential for statistics, payments, and a variety of records, including Customers, Coats, Par- chases, Sales, Wages, Stocks, Credit Collec- Investments, tions,

Bales Promotion, etc., éta. The most moder. Eataly priced visible soord “system” on the market – Let us show, you how you can in- WOSSO" your turnover,

Make more profit with KARDEX Ca

THE OFFICE APPLIANCE CO.

LIMITED.

INCORPORATED: UNDER THE Hongkong OzDINAKŪRS,

Speciálisis In Office Equipm

Powell's Ball

Den Vosur Road, C. Phone: 28807.

Total Liabilities at date

Assets

Liabilities

118,881.73 195,801.19

$2,424,068,24

Break-up Value

810,584,377.80 2,424,688, 24

8,159,709.56

Lesa Liquidation Charges (say) 000.00, and Repatriation of (say) $50,000,00

$300.- Staf

350,000.00

$7,809,709.00

On a Paid-up Capital of $4,290,000.00 this works out at 81.77 per dollar, or a Liquidation valus on the

Old Shares of......

Shares 23.75 paid-up

Shares $1.00 paid-up

$13.27 -6.03 1.77

against the fact that the Combined Shares of the Company are now standing at a quotation of Seven Dollars.

During the period under review there has been an improvement in earnings in spite of increased cora petition and the General Managers have done their utmost to meet present trading conditions in every possible way..

The Accounts.

It will be observed from the Ac- counts that the sum of $189,451.12 has been written off for deprecia-

bo

of $17,320.10

tion but it is still considered that the properties stand at rather high values. It has been necessary withdraw the sum from Underwriting Account to cover the repairs to s.s. "Haiching," this teamor having grounded on the White Dogs Rock near Foochow during the dense fog in April Inst but was refloated and arrived at Foochow under her own steam. It will be noted from the balance sheet that 8266,337.73 stands to our credit with our bankers and I have to state that the greater part of this has since been invested in ap proved local securities; all amounta shown as being outstanding in the accounts have been collected.

The amount allocated for Pen- sion and Sickness is reduced "to 818,000.00 the General Manager have with regret circularised the floating staff advising that they were compelled to suspend all home leava.

Beference was made when I last addressed you to the effect that it Tas possible that an Extraordin ary Meeting might be necessary in connection with further appoint! ments to the Consulting Committee, I am, however, pleased to state that this has been found to be un- necessary.

The trading conditions during the first three months of the cur rent year continued to show some improvement.

In order to reopen and revive our former Swatow/Hong Kong service and to be in a position to meet the wishes of friends at these Ports we have chartered the Motor Vessel "Svale," she is already prov ing to be very satisfactory and popular on this run.

As regarda future general trad ing conditions it is of course im possible to predict what the future has in store.

The motion was seconded by Mr. T. Ramsey and passed unanimous

Other Matters.

We have just received “DURO” Linen-printed and plain, for frocks. which may be washed twice a day.

Replaced if it shrinks, stretches or fades.

1

KOHINOOR SILK STORE

China Building.

ASSETS

£13,000,000

BY APPOINTMENT

OHINCOR

DIAMO

Proprietor V. Rupchand Tel. 25950

OLAIMS PAID

£40,000,00

GENERAL

W

∙ACCIDENT, FIRE & LIFE ASSURANCE CORPN., LTD,

All Classes of INSURANCE

WORLD

WIDE

ORGANISATION

AGENTS

JAMES H.' BACKHOUSE

SHIPBUILDERS,

1A, CHATER Re D.

TEL

SHIP REPAIRERS,

BOILER MAKERS,

FORGE MASTERS,

OXY-ACETYLENE AND ELECTRIC WELDERS, MECHANICAL AND

ELECTRICAL

ENGINEERS.

21733.

THE TAIKOO DOCKYARD & ENGINEERING COMPANY

OF

HONG KONG, LIMITED.

SALVAGE TUG “TAIKOO

WIRELESS CALL

V.P.G.N. 000 Merkas.

-DRY DOCK-

Length 787 Feet. Length on Blocks 750 Feet. Depth on Centre of

SIL (K.W.0.5.7.) 34 ft. 6 ins.

THREE SLIPWAYS.——

Capable of Handling Ships Up

to 4,900 Tons Displacement

Electric Crane at Sen Wall, Capable of Lifting 100 Toas at 70 Fest Radius.

BUTTERFIELD & SWIRE, Agents,

HONG KONG, CHINA & JAPAN.

T. ADRES: “TALEGODOCE, "Hone Kona”

CALL FLAR: "C" Ovka “Ans. PennaME.".

RESEARCHES IN AGRICULTURE

HEAVIER DUTY ON DIAMONDS

The Treasury have approved a recommendation of the Import Duties Advisory Committee that

The Report of the Imperial Col lage of Tropical Agriculture for 1081-82 contains resumes of the students' research during the year. They figure round the four main unmounted diamonds, drilled so as to be adapted for use in wire- emps of cacao, hugar-care, bananas, and citrus. Experiments in tropi- drawing dies, should no longer be cal soil. deterioration and manuring

exempted from the 10 per cent. have, been continued.

The export of fruit and vegetables general ad valorem duty. An Or- Proposed by Mr. Croucher and from St. Lucia, St. Vincent, and der, discontinues the exemption ne seconded by Mr. Chan Ming Keu, Dominica continues to improve, and from Thursday next. Sir Robert Ho Tung, Hon. Mr. C Montserrat growers are making in Gordon Mackie and Mr. M. Hreasingly large shipments of toma Turner were re-elected members of toes to Canada.

the Consulting Committee.

Messrs Lowe, Bingham and Mat- thews and Messrs. Linstead and Davie were-re-elected auditors on down our ships and properties to the proposal of the Chairman, 88- conded by Mr. Turner.

The Committee state that if effect

is given to their recommendation

they will subsequently propose the imposition of an additional duty

present day values is commendable, of 10 per cent. (making, with the more especially as by so doing, we general ad valorem duty, an aggre- shall be able to finance any addi- gate. duty of 20 per cent.) upon Shareholder's Tribute. tional tonnage we may require, this class of diamonds. Before the meeting concluded, suitable to our particular trade, Mr. Croucher paid a tribute to the Although the past year reflects

The celebration this year of May it the question ly Our Government might find the work of the consulting committee in some degree the soonomies which have been made in the running of

abbreviated Affair Many labous not liquidate 1. Tatourage to do something to help this and general managers.

Audresing theanting he said. --- answer Ler have been i A important and very necessary in

unions in Mukofima, the industrial "It is very gratifying to see er det Ltrust our general man- Day, in Japan, promises to be zp (1) The thurs holders have a cer-dustry; and with the example of

this direction."

area across the Sumida River from tain pride in their property our nearest neighbours in the Em. such a marked improvement in the ager will not relax thair efforts in and prefer to fight as long så pille encourage them India, last year's working of our steamers

The chairman thanked Mr. Crou Asakusa, have decided not to parti Kripod Alalay place an import and this, in spite of increased com-

on, pementationet uficient petition. As our chairman remark-cher and assured him that the cipate in the annual demonstra ed, trading conditions are very un- general managers would continue tion, reports the "Jiji," As a sup- cartain and the policy of writing their efforts to effect further econo-stitute, they plan a patriotic meet-

ing and parade. *Continued as foot of neat Volumn)' mies in the ruoning of the fleet.

may b

(2) The Japanese (v)

'not continue dan

We are support