1934-02-17 — Page 7

HỒNG KONG DAILY PRESS, SATURDAY, FEBRUARY 17, 1934.

THE "BOTTLENECK" AT CAUSEWAY

BAY

GOVERNMENT'S POLICY CRITICISED

AT TRAMWAY MEETING

Need For Wider Road To

Quarry Bay

Government's delay in widening the road between A. King's slipway and the South China Bathing Shed was the subject of criticism at the annual meeting of the Hongkong Tramways Limited "yesterday, when both Mr. A. H. Compton who presid- ed at the meeting, and, Sir Henry Pollock touched on the question.

The Chairman's report revealed a good year's working, it being of interest that January 25, 1933, which was Chinese New Year's Day, 'was a record day for the Company when they carried 162.947 passengers, exclusive of monthly ticket hold-

LTS.

The losses entailed over the operation of buscs by the com- pany was also dealt with, in full by the Chairman.

"WHY THE BUSES DID NOT PAY

(Directors,

Supporting the Chairman were the Hon. Str Shouson Chow, the Hon. Mr. C. Gordon Mackie, and Messrs. Felix. A. Joseph, Choa Pu Sien and R. Gordon Mr. L C. F Bellamy (General Manager), W. F. Simmons (Secre- present the tary). There were iolowing shareholders:-The Hon. Sir Henry Pollock, the Hon. Mr. T.. N. Chau, Messrs. P. S. Cassidy. O. el Crow- Arculli, F. C. Hall, N.V.A.

cher, Choy Wing Hay, Wm. "Allen. Frank Austen, A. C. Kennedy, H. C. B. Way, A. C. Greaves, Chua Seng Choo J. D. Danby,

The Chairman said:- Gentlemen,-No doubt it will be agreeable to you to disperse with the the formality of reading Directors Report: I will there- fore follow the customary proce- Report and "dure of taking the

they have

the

Accounts is read, as been in your hands for quisite period.

re-

We have again had a very good year. Although traffic.. receipts are down by $43,052.40 the figure of $2,039,638.98 is the second high- the net est in our history and

by nearly profit has increased $10,000,00. Total passengers de- clined from 35,542,000 to 34,963,- car-miles 000 and although the

operated increased from 3,325,000

to

total 3,427,000

second

operating successive

rency.

in

1930, however, the seating, tax and petrol tax des- cended upon us and the dolla crashed Fares were raised on all routes in Kowloon on July 1st. 1930, but the additional

revenue

CORRESPONDENCE DOCKYARD

[all letters, intendea jur publi ation must be accompanied by the name and address of the writer; not for publication, unless so desired, but as evidence of good faith -ED.I

"

TEN MINUTE ALIBI

DAILY PRESS,"

was" insufficient to cope with the rising costs. In 1931. the local dollar deprecated further and at [TO THE EDITOR OF THE

Fares one. time touched 101d. were agath raised in· Kowloon. Then, in September of that year, the petrol tax was increased by 10 cents with the result that we were paying 150%, more, per gal- lon. for petrol than during the first half of 1030.

HOYD KING

TRAGEDY

European's Fatal Fall

The dry dock in the Royal Naval Yard was the scene of a shocking tragedy yesterday afternoon when sir,-Owing to the intervention Mr. A. G. Ursell, chargeman of of the Chinese New Year Holidays

fitters in the Chief Constructor's the time available for booking Department, fell into the drydock clrcumstances surrounding seats has necessarily been curtail and was killed instantaneously. ed. Will patrons, therefore kindly The note that arrangements have been

the tragedy are at present meagre, made for seats to be booked.at but we learn that Mr. Ursell, who the Anderson Music Co. up to 3 was apparently surveying repairs a'clock to-morrow (Saturday) into a ship, accidentally fell from addition td. the usual, booking hour this week and next.

11

R. 8. C. BROOKS, . Hon. See. HRAD.C...

Hong Kong, Feb. 16.

the top into the dry dock, westside forward, a fall of about 35 feet, striking his head on the ten foot. altar and then falling a further ten feet to the bottom of the dock, where the body was lodged between the catamaran and the dockside..

Decline in Traffic Receipts To make matters worse a de- cline in traffic receipts set in dur- ing, the second half of 1832. This continued until we ceased opera tion. last June, and for the period. of five months and seven days covering our operation of the Kal Tack subsidiary, last year the revenue fell by nearly 12% com3 pared with the corresponding per iod of the previous year, and, al-

Petty Omeer Moir, HMS. Moth, though the day on which we said the accounts and losses of both

who was nearby at the time, and farewell to our, subsidiary the the former Motor Bus units have

who saw the accident, immediate- prospects of lower operating costs been finalised within the period. were brighter, the outlook from a Nothing further therefore staädsly rushed, to the spot where the revenus point of view had never to be provided for these purposes, body lay, but life was already ex In fact, after closing Motor Tran- tinct when he got to Mr. Ursell's appeared worse.

sport Investment & Loan Account side.

The late Mr. Ursell, who was 49 by writing-off $134,164.30 out of the contra Investment & Loan years of age had been, in the Reserve aremanining excess pro- Colony for about nine years, and vision of $65,835.70 has been trans-bia tragic death will no doubt terred to the General Reserve Ac- come as, a great shock to his large. count. The special Reserve (pre- eircle of friends. The tragedy was viously created, solely in respect rendered all the more sad as the of the Motor Bus ventures) being deceased was due to go on leave shortly. He leaves a widow and thereby, closed accordingly,

Added to $85.835.70 thus appro- two sons who are apprentices in $84.164.30 the Yard, and to whom the deepest printed an amount of has been also allocated from Pro- sympathy is extended.

Account making an service-never caused.at & Loss much anxiety, and, after credit- ing a surplus on realizations, the Tramway Bus" enterprise over those years resulted in the loss of only $28,807.00.

Regarding the increase in fares in. Kowloon to which I have re ferred, it is interesting-and not note. without significance to. that, whereas in a Kowloon motor dangerous roads in this Cols the maximum stage for a

cent fare is 1 mile and a quarter. ony, and

we consider that in a Hongkong Tramcar it is 6 the continuation and comple

miles and three quarters. tion of this road for the full distance

between Causeway

Bay and Quarry Bay should not only be taken in hand, wut should be completed with out further delay. In fact we regard it as most unfor tunate that the work on this road should have been delay ed for so long."

In his reply H. E the Gov ernor, Sir Cecil Clementi, said:— "The unofficial members of this. Council have urged upon

my Government the necessity for pressing on with the con- struction of the new 100-foot road between Causeway Bay

It is and Quarry Bay.

the settled policy of the Govern- ment to complete this road, and I hope very much that it nay be possible in the budget for 1931 to provide the full sum estimated to be necessary for that work."namels, $355, 000. There is however, advantage in doing this work Once begun 1 piecemeal should be finished off, and the full amount necessary should be made available. It is not possible to allocate so

I have omitted lengthy refer ence to our buses on this side of the harbour because such business with not more than six bases in regular

い

Sale of Buses

The sale of our buses to the re- spective successtul tenderers was a somewhat protracted business

partly because five different Mo-

to had

addition of £150.000.00 to General Reserve for the years "1933, nox bringing this Account to a total of $550,000.00,

Inxestments. Investments at 8559,859.00 you will observe, have been increased by $196,688.00 and since the date

bearing securities,

The funeral will probably take place this afternoon.

I have much pleasure in second- ing the motion for the adoption of the Report and the Statement from which share- of Accounts,

of $1.35 for the tribution 1933.

year,

of these figures further funds have holders will be glad to note that been similarly applied, the whole the final dividend has been in- tor Büs undertakings

At one time in selected and approved dividend- i creased "to 85 cents, making a dis- change hands. seemed almost certain that the Government would require to be asked to exercise their powers of Arbitration under Section Government

Notification

21 01

S.319,

on

revenues

com-

COДi-

2. That the track, rolling stock and overhead equipment have all. been maintained in ex- cellent condition. 3. That, we are clear of the motor-bus business, which, for reasons fully detailed by the Chairman, turned out so uri- satisfactorily.

4. That the Directors have in the past and are still fram- ing a financial policy, in pre- paration for meeting the necessity of a largely increased. Royalty to the Government from October, 1939.

5. That our investments have in- creased by nearly two lakhs of

the figure dollars over which they stood at the end of the year, 1932-

at

This, to be considered in con-

are also junction with the also substantial- ly increased account of funds (sur- The following facts plus to immediate requirements) noted with gratlication, namely:- 1. That the net profit has in- placed out on short call loan em-

that creased by nearly $10,000.00. negotiations with one of the suc

ployment, is, I think, all cessful tenderers appeared to have

needs to be explained in reference reached a deadlock. At almost

to the Balance Sheet. The sound the eleventh hour, however, wis-

financial strength of your Company arbi- er counsels prevailed and

clearly indicated in these accumu- tration was avoided.

lations will. I am sure, be regard- Our thirty-three buses (25 Kaled with every satisaction. Tack and 8 Tramway) were sold

As to the Working Accounts. I for a total of $183,119.00 which have already remarked upon the at the rate (1/41) prevailing year's Traffic revenue and referred large June 10th averaged £384 per bus to the not unsatisfactory a sum from Public Works Ex-This was exclusive of spare parts parison shown in total Working

this single and stores etc. which were the for traordinary

Expenses. Other costs for "the

work next year, and I consid-

subject of a separate sale to the bined in the Item Investment, In- period showed a slight decrease

er that

mutually satis- the public interest two licensees on

terest and Sundry Income disclose. on those of the previous year.

will be better served by com- factory terms.

marked increase within the year, in very The year commenced

pleting the Tai-hang road,

Statement of Accounts It should, however, be stated that promising fashion. January re-

the road connecting Garden

Turning to the Statement of this period's figure of 8107,654.28 turned the highest traffic receipts

Road, Bowen Road, and May

Accounts ...... the greater Bal (which is 856,954.48 higher than of any previous January and April

Road. the widening of May

before) is inclusive of a surplus ance Sheet detail relating to the traffic re- returned the highest

station Road from the tram ceipts of any previous April. The

and the asset Tramway Undertaking com- realised on book-value of the as- to Conduit Road

piles with requirements under the sets of what I have termed the decline in the number of passen-

strengthening and improve-

new Companies Ordinance of 1832. "Tramway Bus" unit (as distinc- gers carried over the year show.

ment of various roads on the

regard to the With

sub-headstive from the Kai Tack unit in the net a percentage of 18 but over thi

mainland, as provided for ini

"Construction Expenses" and Kowloon). Nevertheless, last eight months 13 was 2.85

next year's estimates."

"Goodwill" the annual amount yearly operating losses of those set-off hitherto compared with last eight months

being written-off is axed at $88,- buses have been of the previous year. Thus, s

extinguish both under this head and, also, in view far as this Company is concerned,

in the year 1938. of the company's steadily rising. the difficult times through which

general liquid resources and in date de- the Colony is passing

matter of very keen regret to me | Thereafter this yearly allocation Anitely from the month of May

to have to inform you that pre-in addition to further provision creased Investments, an anticipa- worthy last year. It is perhaps

sent indications compel the con- designed in the Board's financial tion of progress hereunder will be of mention that record

clusion that several years may yet polley will be free for diversion apparent. created, on January 25th, last elapse before we are enabled to lay in annual accounts to the increas-

eve) year; (China New Year's

our double tram track on the new ed Government Royalty require. old, ment that will fall effective from when we carried 182,947 passen-road in substitution for the gers, exclusive of monthly ticket track on that portion of the road October 1939. holders.

from Ah King's. Supway to North Track, rolling stock and, over-

Point which Sir Henry Pollock

In Introducing reference to this head equipment etc. have all been described in 1929 as "one of the matter at the annual general

excellent condi- maintained" in

most difficult and dangerous tion. The ralla of both tracks be- tween Western Street and Whitty roads in this. Colony" On the meeting in 1928, Mr. D. G. M. Ber-

other hand, as a large proportion nard sald:-

road Street about 600 yards were re- of the other Government newed throughout. Six more cars

work to which Bir Cecil Clementi were equipped with new trucks of 8' 6" wheel-base and fitted with referred has been completed,

is in band, there are, perhaps, work road grounds for expecting that will be expedited on the between Ab King's Slipway and North Point and that this section will be completed within a short- er period than I have implied.

Motor Buses

a

WEL

electric motors of the most mo-

"dern type. Altogether 83 tram- cars, have now been provided with long wheel-base trucks.

Shaukiwan Boute

A Matter of Regrei

That speech was made nearly four-000.00 so as

and-a-half years ago and it is a these items

01

motor

We ceased operating buses on June 10th last. In the. speech from this chair a

The Chairman informed you last year that there had been a very considerable increase in "the number of passengers carried on cur Shaukiwan route but pointed out that the freqency of the ser-

ago, the circumstances leading up vice it is possible to provide

to the existing motor bus arrange- that route is limited by the re- maining lengths of single track. ments in the Colony were fully

on

year

our

to

Tramway Ordinance

Depreciation.

After charging Depreciation af £175,862.00. Government Royalty $49,097.77 and Donations 81,075.00 the net result for 1933--an increase of $9,980.34 over 1932-13 a Profit of $1,039,438.93.

or this, amounts of $68,000.00 and $84.164.30 (of which I have "I wish to draw the attention just spoken) have been applied, of shareholders essential respectively as written-off to Good- with will and Construction Expenses and points in connection terms of the Tramway Ordin-transferred to General Reserve Ac-

com- | count,« ance under which the pany is operated. In 1952, or,*

of every at the expiration

to

Whilst I fully appreciate the fact that the Hong Kong Govern- ment has many conflicting claims on its funds, I must join in the regret which has been "voiced by the Chairman that such slow pro- being made in pushing gress is 100-foot road (or rather one should through to completion the new call it now, the 75-foot road) from Causeway Bay to Ming Yuen.

In this connection the Chair- man has quoted from a speech of in the Legislative mine made Council on the 19th September, 1929, to which I would add that, in what I then said, I was speak- ng on behalf of all the Unofficial Members of that Council.

Speedy Completion Necessary. The speedy completion of this most necessary artery of traffic (in order to do away with a dangerous An Interim Dividend of $325,-- 000.00 (50 cents a share) was also bottle-neck and to enable the track) has been urged since by subsequent Ave-yearly period, paid in August, last., Your Direc-Tramway Company to double their the Unofficial Members (see Han- the Hongkong Government tors now recommend a Final de- per share, have power, on giving alx claration of 85 cents

sard, 1932, at p162); and, I take months notice, to purchase absorbing 8552,500.00 and making this opportunity of submitting that the whole undertaking at the total dividend for the year of it is wasteful anance, because it in- then value of the, undertak-8135 per share.

erament to take, so long in com-"

ing. Also, we pay at present This, a dividend of 15 cents for volves the loss of many years of to the Government a Royalty 121 per cent) higher than for the interest on capital for the Goy- of 5% on the working profit, previous year will leave a balance pleting this road, which, in its In 11 years' time-from Oc-of $146,691.58 to be carried forward tober 1939-this will be in to next year, against the sum of present unnnished condition, is of with, the accounts each year, 1932. creased to 25%. In dealing $136,918.95 brought into account no value whatever to the public... the Directors have to bear

It was explained that handicaps explained. Mr. Stewart told you

that accumulated losses on which we in this respect from

in mind and frame their now suffer would be removed as subsidiary-the Kai Tack Moto Bus Company for four years,

'policy accordingly." soon as we were enabled to com amounted to $242,000.00 and I am

Your Directors wish sharehold plete construction, of our double

now in a position to inform you track on the new 100 road.

that the total extent of losses in- ers of the Company to be inform Quarry Bay. and North Point

the being followed in such regardois As the North Point and Quarry Curred in our two motor bus ened that completion of the police four-calculated to provide, adequately. Bay areas continue to develop the terprises and absorbed in

Tramway accounts for the necessity for rapid completion of and-a-half years ended June last all that will be necessary in this this new road becomes in my ylew-not only of importance to amounts to $12,971.00 this sum matter from the time that the this company but of considerable independent of loss of interest need arises. importance to the Colony in genover that period on the capital eral and I take this opportunity involved.

Kal Tack Motor Bus Co. Immediately following termina-

of quoting from a speech by Bir Looking back. I think it may tion of its operating interests in Henry Pollock in the Legislative fairly be said that we were the Kowloon your subsidiary. The Kai Council on the 19th September victims of very adverse circum- Tack Motor Bus Co. (1926) Ltd., stances over our motor bus busi proceeded into liquidation, Wind- 1929.4

ing-up and dissolution resched "The portion of the road from ness.

We Commenced operations when conclusion in October last, and in the Directors' Ah King's Supway to the

as stated buses,

by footnote South China Athletic A380 with a 2-d. dollar, new

ac were Report and clation Bathing House is one spare parts and pétrol etc.

and not unduly expensive in local cur companying the Balance Sheet, of the most dificult

I would... therefore, venture to suggest, for the consideration of I now propose-

Inat the Repest of the Directhe Government, as Reserves are. tors and Statement of Accounts now angle, that it should take of the Company, as presented, supplemental votes in Comcit for for the year ended 31st Decem- the purpose of pushing on to com- as speedily as possible, ber, 1933, be adopted, and that a piétion, Final Dividend of- 85 cents per this very necessary public work share for the year 1933 be and which I hope to see finished dur

ing the term of office of the pre- is hereby sanctioned." When this resolution has been sent Governor The road might duly seconded I shall be glad to then appropriately be named "Peel

Avenue." Applause); answer as well as I can any ques2. tions shareholders have to ask. (Applause),

SIR HENRY POLLOCK

Seconding the Chairma Henry Pollock sald:

The proposal was put to the meeting and carried,

.

Mr. AH Compton-and the Hon. Mr. C. Gordon Mackle were re- elected directors and the appoint- ment of Mr. "Feliz A Joseph to the Board of Directors was "con-" Sir firmed, Messrs. Lowe Bingham and Matthews were re-elected auditors.

Mr. Chairman and Gentlemen:

7

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to match...

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Sole"Atlas" Agents, -

9, Queen's Road Gentral.

NEW MUSIC

By WALTER CARROLL

RIVER AND RAINBOW

FOREST FANTASIES

WATER SPRITES

SEA IDYLLS

TUNES FROM NATURE

SOENES AT A FARM

FIRST LESSONS IN BACH

(TEN MINIATURES FOR PIANU) (NINE MINIATURES FOR PIANO) (TWELVE SHORT PIEURS)

(TEN MINIATURES FOR PIANO)

(EAST PIECES FOR BEGINNEES) (EASY PIXOES FOR BEGINNEES)

(BizTeen Brort Pisces),

The Anderson Music Co., Ltd.

Ice House Street.

THERMOS

Tel. 21828.

FLASKS

24 HOURS HOT FOR COLD FOR 48 HOURS

FROM

$2,50

JUGS FROM

$9.50

EA.

JUG SETS

JUG, 2 GLASSES &

FROM

$33,50

EX.

TRAY

BET.

IN A LARGE RANGE OF

COLOURS.

HARDWARE DEPT.

* 44 7 at

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