1934-03-06 — Page 7

$1

HONG KONG DAILY PRESS, TUESDAY, MARCH 6, 1934.

Hong Kong Telephone Co., Ltd.

SUBSTANTIAL INCREASE

IN PROFITS

Tribute To The Late Mr. R. G. Shewan

A glowing tribute to the late Mr. Robert Gordon' Shewan was paid by the Hon. Mr. C. Gordon Mackie at the ninth annual general meeting of the Hong Kong Tele- phone Co., Ltd., which was held at Exchange Building sesterday.

As Chairman of the Company, Mr. Mackie reviewed a very successful year, there being an increase in profits of 380,986 over that of 1932, and expressed the possibili. ties of a radio-telephone link between Hong Kong and practically all countries in 1935.

Radio-Telephone Communi- cations In 1935

Addressing the Mackle said:

Gentlemen-B

meeting

THE REPORT,

bility of further capital, being re- quired at a relatively early date to take care of the rapid expansion

From perusal of the Accounts as presented, you will observe on re- ference to the Debit side of Profitot and Loss Account that the "annual payment to Gvernment of $4 per

your undertaking in the financing of the Intallation of ex- to your automatic EX- tersions

NATHAN ROAD TREES

Strong Resentment Felt

your Company's representations to lovernment, whereby a from the 1st January 1934-the appropriation | under this heading will be in- crensed from $50,000 per annum to 8170,482 per annum, thus effecting provision on the basis hereinbe- The attitude of the authorities in far indicated-in the matter of proceeding last week with the re- the present Authorised Capital, inoval of the fine old banyan tree On the Assets side of the Balance Nathan Road, on the grounds Sheet, you wil observe under the that they were obstruction to appropriate heading that your In-traffic has brought forth a strong vestments continue to show a con- undercurrent of resentment and siderable overall, appreciation protest. For the time being, how. which must be source of grat-ever, the trees are to be spared, fication to shareholders; the actual for the authorities indicated yes altion is that the purchase price terday that the order for the whole of the combined investments is

sale falling of the trees has been #103,207.19 under the ruling market

suspended. value on 31st December 1933.."

A call on leading. Kowloon re- Your Company, as. you will ob-

sidents yesterday by a representa- serve, is in a very sound cash positive of the Dally Press was pro- tion: must point out, however, ductive of strong condemnation of that included in the balance shown

OBITUARY

of Mr. J. R. Hinton

Death

Mr. J. R. Hinton of MOSSTS. Butterdeid and Swire, passed away in the early hours of yesterday morning at the Canossa Hospital from pneumonia. Widespread ́'re- gret will be felt at his early demise as he was only 33 years of age. A particularly touching feature of his death was the fact that he had hoped to rejoin his wife and child at Home shortly, since he was due for leave next month. The utmost sympathy will be felt for the widow in her bereavement.

evening, the

Deceased was extremely popular amongst his colleagues and friends. He was a keen cricketer and was a member of the Hongkong Cricket Club and of the Hongkong Club.

The funeral took place yesterday remains being in- as at 31st December 1933 are the the action of the authorities in pro- receipts amounting to over $600,- coeding with this work without con- terred in the Frotestant Cemetery. 000 from the new share issue, pay-sulting any of the responsible civil- The Rev. H. W: Baines officiated as authorities. The Kowloon the graveside and amongst those ments, "in respect of which

were ian made 30th December 1933. Residents Association, it would ap- present were Messrs. T. HR Shaw, Furthermore, payments of instal-pear, were not asked their opinion H. R. Forsyth, L., C. F. Bellamy, D. ments on the Automatic extension on the question, and no opportunity L. Strellett, W. F. Simmons, G. 8. equipments fall due early in 1934 was given to anybody to express Hugh Jones, E. W. Hamilton, T. E. and in addition. $400,000 will be their views on the subject. In fact Pearce, A. C. Bowker, E. J. R. W Tratman, K. E. required to meet the commitment the first that was known of the in- Mitche in respect of the Final Dividend. tention of the Government was when Greig and a representative gather- the trees were actually being cuting of the European and Chinese AUTOMATIC EXCHANGES

J stat of Messrs. Butterfeld and down.

Swire.

оп

of subscribers.

and

the

Kowloon

doubt

A large number of wredths were. sent, including those from Kit and Peter John,, Gracle. Mollie and Juan, Bronte. Majorie and Vera, Sorrowing Brothers and Sister.

President and Members, H. K Cricket Club, Messrs. Butter Leid and Swire. Messrs "Pentreath and Co.. B. and S. Office Mess. CNC. Department, and Taikoo Club

Capt. L N. Bundred, Mr. A. C. I. Bowker, Mr. B. Ncess, Mr. H. Hall- gren L. R. Chanels, W. E. G. Knowles, N. M. Mackintosh, Tam

Mok Hin Cheong, Yam Chuen, Chan Kim Cho, H. C. Narke, J. C.. Saunders V. R. Gordon and Messrs. W. J. Johnson and A. G. Eales of Carton.

Indian Earthquake Fund

非

✓......

The following further donations have been received for the above- mentioned fund:-- Messrs. H Ruttonfee & Son... $100 Abbas Khan Messra. Kayamally & Co.................. Messrs. N. Mohamedally & Co. Mesars. Vttomall & Assudmall Mesars. Tyeb & Co. A friend ........... Firdos Khan

I am pleased to report that the

No Intimation. extensions to your Automatic Ex-

The President of the Hongkong changes, which were proceeding at prospects that the end of 1933, have since been Automobile Association Mr. C. M. tion of future four Directors arrived at the deci- successfully completed and new Manners, informed our representa

position form a valuable potential source of tive that as far as he knew not a the financial proceedingston that

or complaint bad with the ordinareness of the and stability of the Company was further revenue from progressive single protest

warrant the recom development: In this relation, not-ben received by motorists to the meeting. I den behalf of such to your Board-to place on record an undation that an increased as withstanding the depression from offect that the trees along Nathan expression of profound regret attribution to shareholders be effect which the Colony suffered during Road were an obstruction. At the the recent death of Mr. Robert ed. Therefore, subject to your ap- the period under review, it is satis same time, the Association had re- factory to observe that your Com-ceived no intimation from the Gordon Shewan. The late Mr. proval, a Final Dividend at the

Mr. and Mrs. R. H. Wild, Mr. and Shewan was one of the original rate of 8 per cent per annum, mak-pany has been able to record a Government of their intention" to

further nett gain in the number cut down these trees for the beneft M13. T. H. R. Shaw, Mr. and Mrs. subscribers to the Memorandum log a total of 12 per cent for, the and Articles of Association of this year. or 2 per cent higher than of new connections, in addition to of maturists. Mr. Manners pointed D. L Streillett, Mr. and Mrs. T. E. which some 3,000 circal miles of out, however, that so far as the Pearce, Mr. and Mrs. C. C. Knight, Company on its incorporation in for the previous financial year, will

be distributed; it is interesting to underground cable and covered dis- Hongkong Automobile Association Mr. and Mrs. J. H. Little, Mr., and 1925 and served on the Directorate

tribution were laid down in the was concerned they could not very: Mrs. Hyde Lay, Mr. and Mrs. R. L. until early in 1932 when, on the note.. here, as an indication of the

process of making service readily well protest against the destruction. Stewart, Mr. and Mrs. L. Goldman, grounds of falling health, he re- expansion which your business has

undergone since the inception of available to an increasing number of the trees, though he himself hald Mr. and Mrs. J. R. Collis, Mr. and signed his seat on the Board: dur-

very strong views on the subject Mrs. A. H. Penn, Mr. and Mrs. D. ing his period of office with the the Company that, whereas the

CANTON TRUNK SERVICE As soon as it became known, how-Forbes, Mr. and Mrs. W. F. Sim- Company, the late Mr.. Shewan nelt profit during the first com-,

You will be gratified to learn that ever, that the trees in Nathan Read mons Mr. and Mrs. L C. F. brought to bear much sound advice plete year's working, namely, for

the Cantor Trunk Service Is be- were to be removed wholesale, Bellamy, Mr. and Mrs. J. R. Sturt. in the deliberations of the Board the year 1926, amounted to some

coming increasingly popular and Kowloon residents, as a whole, felt Mr. and Mrs. D. J. Lewis, Mr. and and his intimate knowledge of two lakhs, the nett profit for the

Mrs. K. E. Greig, business and affairs, gained as the year under review amounts to well that the trame carried by the that the step was an unnecessary Trunk Lines for the period under one and that the destruction of these result of a lengthy, and honourable over three times that figure.

review THE BALANCE SHEET.

was considerably greater trees removed from Kowloon one of public and commercial career in

The the Colony, proved invaluable not Turning now to the Balance than that" for the preceding year. its most beautiful avenues.

In this connection I would like to Hon. Mr. J. P. Braga and the only to this, but to numerous other Sheet, you will observe by a per- Companies with which he was usal of the Liabilities side there- record the Company's appreciation Rev. Mr W. Walton Rogers were associated. His wise counsels are of, that the position shown under of the close co-operation afforded amongst those who wrote to

the Canton Administration in authorities, deprecating this step. indeed a loss to this Company and the heading "Share "Capital" re-

Work Suspended -- his passing will not only create a flects the increase in the Au- the operation of this service, 'as

Apparently the general resent- void in the every day life of the thorised Capital approved by Mem- evidenced by the efficiency Colony but also engender bera at the Extraordinary Gener- reliability with which it has con-ment has had its effect and the

tinuously functioned since genuine feeling of regret to his al Meeting held for this purpose on

1st cutting down of further. trees did not continue "yesterday, Those numerous friends" and acquain- 28th November 1933; in this re- September 1931.

The advantage of Teleprinter which have been cut down were tances throughout the Far East, in-lation you will no doubt recollect asmuch as his gentle and kindly that in addressing you from the working in certain specialised busi being removed, but with regard to nature endeared him to all with Chair at the last Annual Generalnesses is becoming increasingly ap-the rest, it is understood that the whom he came in contact.

Meeting foreshadowed the possi-parent and several new installa-original order has been suspended. clons were put into operation dur-So far all trees removed has been ing the year under review.

beyond Kimberly Road, those be- In May your Company staged a tween the seafront and Kimberley telephone exhibit at the Empire Road being left intact. Fair held in the Peninsula" Hotel

It is of interest to note that the and I think that any shareholders Annual Meeting of the Exchange line in respect of Royal changes and to proceed with the who visited this exhibit will agree Residents Association takes place +les

figure of carrying out of other contingent with me that the staff is to be this week, and there is no has reached the $46,076, or practically double that capital works During the financial congratulated on the excellent that this matter, concerning as it Arst financial year under review, your Directors showing which made the Telephone does a point of great interest to pald covering the year from the date of the incor- continued to scrutinise closely the Company's section the chief centre residents on the Peninsula, will be of attraction and afforded an op- given its full airing. Meanwhile, it peration of your Company in June position of your Cmpany and con- 1925; in which relation it will be cluded that the time had arrived portunity of demonstrating to the is to be hoped that nothing will bile special facilities in com induce the authorities to cut down appreciated that the amount pay- when the necessary action should

the avail- any more trees in Nathan Boad, able under this heading is one that be taken. As you are aware, the munication service of

bility of which, they might be until the need is unanimously felt with norma; development increases maximum amount of capital which employed from time to yearly. The, amount contributed can be

by motorista, Kowloon residente, RADIO TELEPHONE therefore should be a measure of me in your business is scheduled

and the authorities. In the Telephone Ordinance and With reference to the matter of your Company's prosperity and,

Governor in

the establishment of radio tele- incidentally, represents a material the consent of the

Council is essential to any increase (phone, link,, enabling subscribers in- contribution to public revenue.

-communicate with The item Bad Debts" standing contemplated beyond the figure Hongkong to at the riegligible figure of $469.56 specified for the time being: con- those in practically all other "coun-

A charge of attempting to ex- tries in the World, I am given to

Mr. G. C. Moxon, in seconding, hardly requires reference, except to sequently, a case was prepared and

port" unmanifested cargo aboard understand that, although the ne- said:→ .direct your attention to the amount presented to Government and after

gotiation with the Imperial and Mr. Chairman and Gentlemen, the ss. Sandviken was preferred involved, indicative as it is that investigation and due consideration the business in which we are en- of the position, permission was Izperial and International Com- I am sure we have all listened with against Lui-Chi Chiu, manager, Li gaged is being conducted on sound granted to increase the Authorised munications, Ltd., to which I re- attention and satisfaction to the Bam, shop coolie, Ng Sam, tally- lines in other words, all revenue Capital from $5,000,000 to $7,500,-ferred from the Chair at the last interesting speech we have just inan, Pau Tong, third compradore accruing is 100 per cent effective 000. The new shares were offered Annual Meeting, have been discon- heard from the Chair. I consider and Chan Bhul Pu, second com- at Central Magistracy in the matter of collections made. to existing shareholders in the tinued. the Government is ap- that both Management and Bhare- pradore

21- ratio of one new share for each two proaching the subject from Provision has been made for

holders are to be congratulated on yesterday, be pati

The

was complainant

Mr. ↓ can the record of progress disclosed. the customary bonus to European old shares add the first call or other, angle and I think it

confident, will $2.50 per share became payable on

The increase

of Messrs. Jardine, staff which, I am

confidently be predicted that tele-

of yearly appro- Stevenson to Amortization Find Matheson & Co, Ltd. have the support of shareholders, 30th December 1933. As your phone service to Shanghai and be- priation.

The cargo consisted of one bag not only in view of the financial Directors "anticipated, the new Is- yond will be available to Hongkong from $50,000 to 8170,482 is, I am

a wise and necessary step. of Britlah dyes, 27, bundles of résults achieved, but also having sue was completely successful. telephone users some time in 1935. sure regard to the high standard of Before leaving this subject. I In my opinion the dignity and im-Hongkong seems to have lagged be- elastic, two bags of flah mays, four efficiency in operation at which would like to make clear that, portance of this Colony, both geo- Hind neighbouring cities such as woollen blankets, two bags of your system has been maintained, notwithstanding the Increased graphically and commercially, war- Manila and Shanghai, in the matchark fins and 14 bags of artificial resulting in the strengthening of earnings required to meet dividend rants that, in relation to interna- ter of long distance telephonic silk yarn.. that intangible, but nevertheless commitments on the augmented tonal communication, by telephone communication and I am glad to Mr. J. B. Prentis appeared for essential, asset-the goodwill of the capital, your Company does not urgent attention should be given hear from the Chairman that this the prosecution while Mr. FX. public whom your Company serves. propose to increase the rates of to this matter, and I trust the mportant matter has not "been 'D'Almada, inr., represented the

subscription: on the DEPRECIATION

contrary, project to which I have just re- lost alght of. I quite agree that first and second accused.

the dignity and commercial impor- Mr.. Prentis, applied for 48 hours Provision has been made in the every endeavour will be exercised ferred will be pressed forward to matter of Depreciation, following to maintain these as the present completion with the utmost, ex- tance of this Colony should be a remand in police custody. There spur to our Government to push were prospects of more serious the policy pursued since the in- low level at which they have con- pedition.

There being no further matters on with all possible despatch the charges being brought, he stated. ception of your Cmpany, and insistently remained over a period of

beg operation of communication by First defendant applied for bail respect of current year the appro- years. It might be opportune here calling for comment, I now priation to this Account amounts to remark that subscription rates formally to propose that the Re- telephone with the outside world: saying that there was no one in

I think I shall have your sup-charge of the shop. to 8401,670.92: in this connection I stil remain at a figure substantial port of the Directors and the Ac-.

port if I offer sincere congratula- ME. Frentis: I am instructed would remark-en passant-that ly below that which, the Telephone scunts for the Financial Year end- your. Board is alive to the necessity | Commission determined as equlting 31st December 1833, as present- tions to our technical staff for that there are Are partners in this of making adequate provision un-able in 1922 and this, notwith-ed, be adopted, and that the follow having provided Hongkong with shop. The penalty in this case is der this heading." particularly hav- standing the heavy expenditure ing appropriations, recommended the most efficient telephone, service ten thousand dollars or one year.

I ask for bail of $10,000. ing regard to the deleterious effect which your Company has incurred by your Directors, as incorporated I have yet encountered. that, climatic conditions may have in converting the whole system to in the Balance Sheet be carried into With these few words I have Mr. Balfour decided to remand pleasure in seconding the adoption, the first defendant along with upon a plant which in operation Is Automatic" working and replacing effect, namely:--

of: Report and Accounts" as pre- the others in police custody. : not only highly delicate, but also overhead lines by underground

sented.ker Get ready A hyper-sensitive to the vagaries of cables. temperature and humidity.

INCREASE IN PROFITS.

unaware.

Payment of a Final Divi- dend of 80 cents per share on Old Fully Paid-up shares (mak- ing 12 per cent for the year).... Transfer to General Re- serve (bringing same up to 8425,000)

Account

L

400,000.00

Mr. Moxon's Tribute

4

OTHER BUSINESS Den

Proposed by Mr. Frank. Atistini,

"ATLAS" SHIRTS

The makers of "Arlag" Shirts know that the success of their

• business depends upon making lating friends-upon securing, a clientele who will not only order one shirt but who come back again and again for others.

This is the reason, as sole agents, for our ever increasing sales of "Atlas" Shirts. We know from our own experience that they always look well. make up well and above ali wear well. Always the same dependable quality that gives immediate and lasting satisfaction.."

to match....

NEW STOCKS JUST RECEIVED

Day Shirts

with two Collars

from $6.75 Dress Shirts... Cost Style from 87.75

Lesi 10% Discount for Cash.

Wm. POWELL, Ltd.

Sole "Atlas" Agents,

9, Queen's Road Central

"Until we more into our New Premises a

BARGAIN COUNTER

of Surplus Goods at Sale Prices will be maintained on the

'MEZZANINE FLOOR. ·

There are No Other Artists Like Them

!

LAYTON AND JOHNSTONE

DB 1302-DUSTY SHOES

Columbia

DB 1296 WITHOUT THAT CERTAIN

THING

DB 1290-OLD FASHIONED SWEET

HEARTS

DB 1264-GOODNIGHT LITTLE GIRL OF DB 1253-UNDER A. BLANKET

BLUE.

The Anderson Music Co., Ltd.

Ice House Street!

100

51

51

25

20

10

.10

Previously acknowledged

256

Total

622

BY

FAMOUS MAKERS REALLY LOW PRICE "NIMBLE" BY

AT

DUNLOPE

UNMANIFESTED CÂRGO

Chinese Shippers Charged

..

seconded by Mr. 8. T. Williamson, P. Warren, D. H. Blake, J. Scott

General Reserve will stand at 8423,000 if you approve your Direc- It will be noted that nett profit ors' recommendation that the sum an increase of 880,986.89 of $50,000 be appropriated thereto. shows

the Hon. Sir Shou-son. Chow, and Harston (directors), Mr. J. H Mr. A. L. Shields were re-elected: Taggart (Managing Director), Mr. over the figures for the preceding Addressing you at the last Annual I explained that your

directors, Enancial year and I feel confident Meeting.

J. P. Sherry (manager), Mr. W. L that shareholders will agree that Directors were fully aware of the

McKenzie (secretary) Messes, E.:.: such increase reveals highly inadequacy of this appropriation Carry forward to next

M. Figuereldo, G. G. Moxon, Frank satisfactory condith.n of affairs, for, the fallment of its specific

Austin (attorney: 1dTMEN MAAF more particularly having regard to purpose for which i was created;

David), A. McKellar, 8. T. Wilité-- somewhat difficult times namely, the amortization of the

on to Hai Wing. H. W. Walker, through which the Colony is at franchise, and at the Extraordin-

ALL Boares, W. C. Clark Wong present passing in the circum- ary General Meeting held on 28th The Hon. Mr. Mackle then pro-Mackle (Chairman), the Hon. Bir Fuig Sur, C. Hats, F. M. Ellie,PEL stance, I need hardly add that It November 1933 I made reference posed the adoption of the report Bhou-son Chow, the Hon, Dr R.HM. Raymond and M. Turner

Kotewall, Messen A. L. Buehls, Je (shareholders) "was only after mature considera to the success which had attended and accounts.

the

Messrs. Lowe, Bingham and Mat 50,000.00

thews were re-elected auditors on 150,250.25 the proposal of Mr. A. Mckellar,

seconded by Mr.. A. M: L. Boares 8600,250.05 Those présent at the meeting were: The Hon. Mr. C. Gordan

75 OTS. EA.

"G. B. D." By PENFOLD

1.00 BA. "BLUETRIANGLE" BYSPALDING

1.00 BA

MESH OR LATTICE MARKING

ŁAZZIO BALLS

Tel. 21822.

GOJE

BALLS

ALSO

A SPECIAL OFFER

OF TENNIS BALLS

DUNLOP, SPALDING

AND

SLAZENGER

$3.50

TIN OF FOUR

BALLS.

LANE CRAWFORD, LTD.

SPORTS SPECIALISTS.