Page
LANE CRAWFORD'S
ANNUAL MEETING
Sir William Shenton Reviews
The Past Year's Business
rd
Sir William Shenton presided on Saturday at the annual Meeting of Messrs. Lane Crawfords Limited.
In the course of his speech. Sir Willam said that the pro- fit on working account for the past year, amounted to 392,579, which was $11,400 less than in 1932. No "dividend was recom- mended.
41
re-
"In its 'trading during the year under review," said the Chairman, "your Company has continued to maintain its putation for supplying highest quality merchandise at reason- able prices."
$20,000 For Staff Passages
Supporting the Chairman were Messrs. T. E Pearce. E. M. Ray- moud, A. B, Stewart and J. H. Tag- (Directors) and Mr. A W. gart Brown (Secretary). The following shareholders were also present: Messrs. S. M. Churn, F. C. Barry, H. M. de Figuerido. E J., Ainslle. B. S. Rogers, D. K. Kharas, K. C. Mark, Sau Kut and H. R., Forysth (representing the auditors).
Addressing
the meeting. the Chairman said:-Gentlemen..
Before procceding to report on the affairs of your Company for the past financial year, I wish to refer, with regret, to Mr. J. P. Warren's recent departure from the Colony on account p bealth Mr. Warren has beeu a member of this Company's Board since March 1929, and I feel sure you will join me in the hope that he will make a speedy recovery and return to again assist in directing the affairs of the Com- pany.
of
The Report and Statement Accounts for the financial year nded February 28 1934 having heen in your hands for the pres- cribed period, I will, with rour permission, follow the usual pro- cedure and take them as rend.
I now submit the following ob- servations on the accounts.
The profit for the year on Work-
trig Account amounts to 392 573.10. Compated with the previous year, this shows a decline of $11.421.22 which is almost entirely attribut- ably to a further shrinkage in turnover. The relterated explana- tion of general trade depression and curtailed purchasing power grows monotonous, but it remains none the less applicable.
On the debit side of the Profit and Loss Account you will note that the usual composite charge for Directors' and Auditors Fees has been subdivided, and Directors' Fees and emoluments now appear as a separate charge in pursuance of requirements of the Companies Ordinance 1932.
Expenditure Repairs, and Renewals amounts to $2,495.77 as against 37,083.18 in the previous year.
ΟΣ
Ample provision bas.been made for depreciation, and particulars of how the charge of 351,485.47 has been applied, are fully detailed in the Balance Sheet to which I now direct my observations.
Fixed Assets
Assets
:
ed to state that, by dint of careful buying and energetic selling, there is very little redundant stock on our hands
The figure for Sundry Debtors $189.948.38-is slightly higher than for the previous year.
Trustees Provident Fund The Trustees Provident Fund Current Account shows a balance of $95,981.78, which represents ex-
HONG KONG DAILY PRESS, MONDAY, JUNE 11,
1934.3
CABLE NEWS IN MONTHLY WATER WOMAN TO OWN BRITISH LEGION UNITY
BRIEF
(Special to the "Hong Kong Dalb
Press" (Copyright.)]
T
Moscow, June. 8.
RETURN
The Level and Storage" of water
in Reservoirs on June 1, was:---
Island Water Works
Tytam Byewash Tytam Intermediate
Tytam Tuk Wong Nel Chung .... Pokfulam Aberdeen Upper
As the result of investigation made among Moscow's lending - braries, it turns out that the most Tytam read books are those by Tolstoi and Gorki, followed next by Pusch- kin, Scholochow, Turgenew. Novi- kovpriboj, Alexej Tolstol, Dosto- jewski, Gogol. Tschechow, Jack London, Victor Hugo, and Drelser. Besides these, the following are also much in demand, Jules Verne, Dumas Byron, Helne, Balsac, and Upton Sinclair-Transocean Kuo Min.
The
famous
Contents in Mutions of .Calions 167.74 ,10 43.38 466.84
: 5.49
20.14
42,76
732.45
Total Storage
Consumption of water in the City and Hill District in millions Bid decimals of gallons during the month of May: 291,67..
Consumption
リ
*534
291 67*
head
PAPER
Famous Daily Changes Hands
A Change in the ownership of one of the most famous French to newspapers, the "Figaro," is take place in a few days' time. The
pass into the paper will hands of the former wife of M. Francols Coty. the multi-million- alre perfume manufacturer.
Until recently" M. Coty himself Since was owner of the paper. he and Mme. Coty were divorced & few years ago, the latter, whose maiden name was Le Baron, has married a Roumanian, and she is now Mme." Cotnareanu,
When the divorce was agreed Mme. found that upon. it was
Paris June 8.
daily, French "Figaro", strongly nationalist in Estimated population. 389.0003 Coty was entitled to half of the politics, and which recently passed out of the ownership of the per- fume king. Coty, has been reor- ganised by a number of well-known Journalists.
the
The former editor of "Temps". Pierre Brisson, heads the editorial staff which includes men like Andre Maurals. Pau! Maraud, Due Dormesson, and the economic specialist, Lucien Romier.
Romier will serve also as a direc-
tor, and Rene Larra as chief leader writer-Transocean Kuo Min.
actly the amount appearing on the Liabilities side of the Balance Sheet as owing to the Trustees T
Berlin, June 8. wish to explain that, hitherto, part
Prompted by numerous enquiries of the monies belonging to this
from Investors as to whether the Fund has been retained by the Company on security of a Mort-issue of a 4 per cent, new Reichs loan can be regarded as the first gage granted to the Trustees on our
The step of general conversion action Burrows Street príperty. position then was that the Tras State Secretary Reinhardt of the Finance replied in tees held a certain proportion of Ministry of the Provident Fund in the form the "Deutscher Steuer Zeltung." of cash on current account. and that the action for lowering the general level of interest is impera- the balance in the form of a loan.
to the Company on the security of a Mortgage. Your Directors de- cided that, in the interests of all parties concerned, it would be more satisfactory if the Provident Fund
were entirely dissciclated from the Company's business This has accordingly been carried out, and in future items relating to the Provident Fund will not appear in They the Co.'s Balance Sheet. are retained in the Balance Sheet under review since, at the close of the Company's financial year, the property mortgaged to the Trus- tees had not been reassigned to the Company. Before leaving this subject, I would point out the pay- ment by the Company to the Trustees of $26.441.20 accounts for the Company's overdraft appearing at the comparatively higher Agure of $74,342.89.
Consumption per
24.2+ per day........
Includes 13.57 million gallons
from Mainland. Million gallons. +Gallons.
May 1933-A 8 hours supply (6-9 am, and 430-7.30 p.m.) was given to all districts during the whole
month.
May 1934-A 10 hours supply to all districts during the whole (6-11 am and 4-9 p.m.), was given
month.""
Mainland Water Works
Kowloon Main Kowloon Byewash Shek Li Pul Shing Mun Reception
Contents in Millioris of Galloris .158.75 27.36 100.30 15.75
303.16
Total Storage
Consumption of water in Kow- leon in millions and decimals of gallons during the month of May:
tive in the interest of the Govern- ment's campaign against nem- ployment since, this process does 200.50. not
$Million gallons."
Gallons,
burden the Budget. All! Reichs Loans will be converted on Consumption the same basis as soon as the ori-Estimated population ginal terms of issue allow. Rein- Consumption per head hardt declared that the present
per day resources held by the Reich would be sufficient for financing the anti-`] unemployment campaign till 1936. Meanwhile, the conversion polley would be applied to all loans of the Reich federal states and muni- cipalities, the basis. of interest for the future to be four per cent throughout-Transocean Kuo Min.
Korno, June 8 Messages from Kovno state that the military insurrection had com- altogether pletely
failed, that twenty officers had been arrested Turning to the Liabilities, I find and that Voldemaras who, till that I have already dealt with the Friday. was in the rooms of the
main features in cross reference.
State Safety Police, had been cross-examined and then sent to one of the prisons-Transocean
I wish to remark on the item Sundry Creditors, which, at the figure of $172,141.49, shows a wel- | kuo Mini come contraction of $42.814.05 as compared with the previous year.
(Continued on Face 11)
| JOCKEY IN CAR
ACCIDENT
S. Wragg Unable to Ride
(Special Air Mail Service)
London, May 26.
Paris, June 8. Boulevardiers who have been looking forward with delight to the prospect of an amusing week-1 end during the officially proclaim- ed first great practice session of
1934 200 50 327 5503
·17.7+
May 1933. A 6 hours supply (6-9
Am. and -7.30 pm) was given to all districts during the whole month.
May 1934-Constant supply in all districts during the whole thonths.
The reports of the Government Bacteriologist and Analyst shew that the quality of the water is satisfactory.
Total rainfall recorded by Royal Observatory from 1.1.33 to 31.5.33: 6.05; and from 1.1.34 to 31.5.34: 14.905,
JACK
Draw
PETTIFER
With Jack London
vast wealth acquired by her hus- band during the years they had spent together.
Now the business of M, Coty, although still prosperous has de clined in value as a result of the economic crisis."
moment, was unable to retain his controlling interest in
into other hands last autumn.
the
Dissension Charge Refuted
membership of the Legion was calculated, was circulated to mem bers every year. They had no se- crets in the. Legion, and the state- menta to which such publicity had been given were totally untrue.
די
(Special Air Mail Service)'
London, MAY 30. Reported dissensions in the ranks of the "British Legion led to the cancellation by Prince George of his acceptance of an invitation to attend the annual conference of
Allegations of Revolt... the Legion which opened here this
As to allegations of revalt within morning. The news caused great
the ranks of the Legion, Sir Fre- disappointment to the conference and to the town, which had been derick Maurice said that the elec- tion of the executive was in the freely decorated for the occasion..
hands of the conference, and that, Prince George's decision was.com- munfeated in the following letter except for wo gentlemen who had from his Comptroller, which was resigned in the normal course after the president, Major-eight years devoted service, the read by General Sir Frederick Maurice:same national executive had been
"Although Prince George is con-
returned this year as had served them last year. In a great body vinced of the loyalty of the vast majoirty of the members and bran- like theirs It was inevitable that there should be differences of ches and of the stuff to the gov
the erning body of the British Legion opinion on matters of policy and elected by the annual conference administration, but to conduct and direct its affairs place for settling them was at the during the year, "and had been conference and not in the public looking forward to meeting a unit- Press.
He added that he was moved ed band of old comrades at the annual conference and memorial with indignation at the gross per-
proper
It had
As the valuation of the proper-parade and service of the British sonal attacks made on their na- ty for the purpose of the deed of Legion at Weston-super-Mare on tional chairman, Colonel Sir John divorce was made before the fall Whit Sunday, May 20, his Royal Brown. No one had faced the Highness has decided with much difficulties of the movement with in prices had occurred to any
to which certain unfortunate pro- common sense, than he. meet a heavy payment at a given minance has recently been given of been suggested that the honour of serious extent, M. Coty, having to regret that, in view of the reports greater courage, good humour, and apparent attempts to cause dissen-knighthood received by the chair- sion in the Legion," he does not see man was in return for selling the "Figaro." The paper thus passed his way to accept the Legion's - Interests of his comrades on the vitation to be present on this occasion when a deputation waited on the Prime Minister" and the occasion."
After reading the letter, Sir Minister of Pensions on the ques- Frederick Maurice said that they tion of the seven years' limit, deeply regretted the cause of the (Cries of "Shame.") His (Sir Fre Prince's absence, because they had derick's) comment on that was that hoped to grees him personally and it was he who led the deputation, add their tribute to the many he and that he had no consultation bad received on the success of his with the chairman before present-
had enrolled himself in the noble South African tour, by which he ing the case to the Prime Minister.
band of Royal Ambassadors.
Rent Owed
the
It appears, however, that new owners have become heavily indebted to Mme. Cotnareanu. The rent of the bulding in the Avenue des Champs Mysees, where the offices are situated, now her property, has not been paid for
ces, Mme. Cotnareanu has been one time. In these circumstan
purchase the news- Induced to
paper,
The plan of the new owner 1s to bring back the "Figaro" to its moderate Conservative
policy. while paying special attention to Literary, theatrical and society
news.
The "Figaro"" was founded in
se was re-established in 1854. 1525, and after a temporary eclip Last century many famous writers
Reparation
The prealdent suggested that the only reparation the "conference could make to Prince George was to send him a message deeply re- gretting the reasons, which had prevented him from being with them and assuring him that the ever in loyalty to King and British Legion was as united as country and to the Royal House, were connected with it.
and of its devotion to mutual Gaston Calmette was its direc-service and helpfulness. tor before the War, He was Many of the delegates suggested assassinated in 1914 by Mme. that the Prince should be urged to Caillaux, who shot him in his come, but the President ruled out office following a campaign which
this course. He said they all had against her to regret the incidents which had he had conducted husband. Joseph Caillaux.
prevented his Royal Highness from being with them, and they must see to it that such things did not occur again.
JAPANESE
POCKET-
SUBMARINE
Carried By Warship
A message drafted by the presi- dent was unanimously approved with loud applause.
3
(Cheers,)
After Sir John Brown had anno- unced that he had instructed his solicitor to take legal proceedings immediately after the conference in respect of attacks on his per- sonal honour, the President accept- ed a motion of urgency, handed in ` on behalf of seven branches, de- claring that the conference endor- tional executive in dismissing the sed the recent action of the na- editor of the Legion "Journal" This was moved from the body of the hall, and supported by a large !. number of delegates. Sir John Brown made a statement on the circumstances of the editor's dis- missal, and the resolution was car- ried with only two dissentients
. Increased Membership Earlier in the proceedings the President announced that the paid-up membership of the Legion was now 342.000, an increase of 16,000 on last year.
Speaking of unemployment in derelict areas, he referred to the series of articles in "The Times," in " which was mentioned the sense of isolation in many villages, where there had been no work for years and there was no prospect of work in future. He appealed to mem- bers of the Legion to break down this sense of isolation, and sug-
set when devastated example gested that they might follow the French villages were adopted. The
The incidents to which the pre- sident referred coupled with the recent dismissal of the editor of the Legion "Journal," hung heavily over the preliminaries of the con- ference. A meeting of so-called (Special Air-Mail Service)
rebels convened at the instance of London, May 26.
the East and West Horsley Branch and held last night at Brown's Despite official reticence, existence of a
midget Japanese Cafe, proved exceedingly stormy submarine appears to
be fully and ended in an anti-climax, reso- pointment
Jack Pettifer was a great disap- established, writes a correspondent. lutions being adopted by overwhel- his numerous learn that trials lasting three ming majorities declaring that the trials have been postponed inde Brighton admirers at the Brighton months have just been concluded Legion was democratically con- !
The reason given for Stadium yesterday when he boxed at Ito, on the Izu peninsula, and trolled and regretting the calling pressed areas and send them a
· air raid alarm over all aris on Saturday, are greatly disappointed by the announcement that the
finitely.
the postponement was that the number and size of sirens in Par-
is are Inedequate.-Transocean Kuo Min.
Vienna, June $.
The Company's fixed stand at a figure of $2,516,346,07. "Particulars of bow this total is computed are clearly stated in the "Balance, Sheet, and shareholders
Sum Wragg, the well-known The prohibition throughout Aus- can study, without further guld- ance from me, the direction in jockey, was injured in a motoring tria for the distribution and sale accident at Huddersfield last night of all daily papers. periodicals. which capital expenditure has He was returning from Haydock been incurred during the year. Park faces-where, be had been magazines and pamphlets from Since, however, the matter of riding-in a car driven by John the Reich has been prolonged for months, according capital expenditure was the sub- Karr, of Luxor-rond, Leeds, with another three fees of remark by a shareholder John Harrington, license of the to a decree issued by Chancellor Dollfuss on Friday. This action at our last yearly meeting. I wish Midland Hotel, Wakefield, "
"In Lindley Moor-road, Hudders means that Austrian readers are to point out that, as compared with a figure of $55,409.10 for the field, the car skidded and collided virtually segregated from the in- wall. It was practically tellectual life of the Reich until previous year, additions to xed wrecked, and the three men were September 16-Transocean. Kuo assets during the year amounted injured in the head, but not to the greatly reduced figure of seriously. They were taken
Huddersfield Infirmary and de-
with a
to
Min
Brussels, June 8. Debroqueville who resigned the
missioned on Friday by King Leo-
Cabinet pold to form a new Transocean Kuo Min,
$22,785.04.
This represents a considerable Lained. saving, and has enable us to divert Wragg said that he would not funds for the purpose of reduc- be able to fulfil his riding engage- .Premiership this week was com- ing the loan of $2,100,000. secured ment at Haydock Park to-day, by a Mortgage on Exchange Build-The nocident, he added, was caused ing. If you refer for a moment to through the car skidding on the the Liabilities, you will note that slippery road..
this loan has, during the year un- der review, been reduced by no less than one lakh, and whilst this may be regarded as eminently satisfactory, I would point out that until such time as our indebted ness under this heading is reduced to a figure more commensurate with the basic principal as applic able to advances made against property, it is essential that your Company should concentrate on relieving itself of this obligation to Its Bankers; !
To revert to the Assets: Stock at the agure of $720,382.54-18 con- siderably less than at the close of the previous year, and I am pleas
· REICHSBANK RETURN
Special to the "Hong Kong Daily Prass" (Copyright.)]...
* Berlin, June 8. The Reichsbank return for the period ending June 7, which was published on Saturday, shows that the note-cover declined to 3.4 per cent. as against 3.7 on May 31 and 4.8 on May 23. The goldstock was reduced by 19.0 million marks to 111.1 millions, while foreign cur- rencies increased 3.7 millions to 9.4 millions, making a net decrease in cover of 15.3 millions to 120.5 million marks.
(Special Air-Mail Service)
London, May 28.
TO
the
a draw over ten rounds with Jack the remarkable little craft is re- London, the hard-hitting West Hartlepool boxer,
The referee was Joe Beckett, Doubtless, he took into account the
puted to have given every satis- faction.
Displacing only 12 tons, it is 29ft in length' with a beam of
of the meeting.
more fortunately placed branches might adopt branches in the de-
parcel of clothes, or the proceeds of some small entertainment. Com In his presidential address this radely acts of this kind had a morning Sir Frederick Maurice lost
moral effect beyond the value of no time in bringing the trouble to the goods sent. a head. He declared, amid ap-
Major-General Sir Frederick fact that Pettiter generally went 7ft. 8in. Propulsion is effected by Dlause, that in view of the wide-Maurice was unanimously re-elect- through the motions of leading, afty accumulators, each of 2 volts spread publicity given to alleged president of the Legion. Major F. W. C. Fetherston-Godley was and thus made the fight. Apart30 amps, the speed under water tons of dissensions, in the move.
ment he proposed to answer them elected chairman, and Major J. B. publicly there and then. He there- upon quoted extracts from articles which had appeared in certain
being 3.3 knots.
1-
from that, however, Petuller was a well-beaten man.
After his visit to America it was The boat can dive to a depth expected that Bettifer would show improvement. He began the fight with some nice left hooks, and I
thought he had at last begun to fuin his promise. But after that first round he lost all initiative and fell into his old habit of aimless
of 184ft and remain below
the
surface for three hours at a time. She is armed with a single torpedo tube and a machine-gun. and is manned by a crew of four.
The type is intended for nar- bour defence and surprise attacks.
Owing to its small dimensions, it can be hoisted on board a large warship, and then launched again to attack enemy shipping in water where the presence of submarines might never be suspected.
leading and no hitting.
It took London a couple of rounds to size up the position. Much, the shorter man, he seemed at first to be overawed by the magnitude (physically) of his task. I learned, too, that he had spent twenty-four In consequence of the success of the first experimental boat, furt- hours on his journey from the North. He travelled by road, ex- her midget submarines will pro- perienced a breakdown in hle bably be built for the Japanese lorry, and arrived only an hour or Navy. BD before the show started. ⠀
London has a punch, if little else. He saw Pettifer's wide-open jaw and found that his old trick of enticing an opponent to advance until the moment when he could swing his right to the chin was made for Pettifer
The causes for the decline were partly due to the payment of 4.25 million marks of interest to the Dawes loan, and partly to the decline of receipts in foreign cur renicles owing to the negative trade balance three months ago. On the other hand the restriction on the import of raw materials is now in the ninth round it seemed having its effect. The note issue that Pettifer must fall under the declined by 127.5 millions to 3:5079 ball of blows. He survived, did milion marks The amount of some little damage in the last credit issued as measured by bills, round, and got a draw. cheques, advances and investments For Pettifer this display was a declined by 111.1 millions to 3,623.9 bad blow. He had hopes of nicet million Reichsmarks-Transocean ing Doyle and Petersen again, but Kuo Min.
his gymnasium training with
Brunel Cohen WEA re-elected treasurer.
At the close of the session Lady
Sunday newspapers alleging that Halg, who occupied a seat on the the Legion had been "going down platform, handed the president a hill for a long time" and that the bronze replica of an equestrian membership had dwindled by hun- statue, of Field Marshal Lord Halg. dreds of thousands, but that this founder of the Legion, and asked was a closely guarded secret by that it should be placed on the orders of the national executive. chairman's table at esch annual Nothing could be more absurd and conference. It was announced ridiculous, he said, because a finan- that the delegates present num cial statement, certified by an bered 1,130, a recodd attendance eminent auditor, on which the in the afternoon 10,000 Legion-
In the circumstances, McCorkin dale's form was not up to expec- tations. He tried many times to land hooks and swinging punches to the law, but never shook his opponent. Von Forst, on the other Tommy Loughran seems to have hand, proceeded smoothly through done him little good.
McCORKINDALE OUTBOXED Don McCorkindale, the South African, who is one of the challen- gers for the British and British Empire heavy-weight, titles, was outboxed by Otto Von Porat, the An open-air tall Norwegian, a show at Ninian Park, Cardin, yes terday. Von Porat won on points, but after the first round he was forced to attack with his left hand only, having injured the thumb of his right hand.
artes took part in a memoriak parade and service on the sands, Lord Bath taking the salute in the absence of Prince George.
The conference adjourned till to- morrow.
HEALTH BULLETIN OF EASTERN PORTS
the ten rounds with accurate left- hand leading, against which the South African had no adequate de-
Plague: Baghdad, 1 case; Ran fence or crtmter. Only for a mo- meat, in the eighth round, when goon, 1 case; Pnom-Penh, 1 death Cholera-Bombay, I death; Cal Von Porat's left eye was injured,
Bmall-Pux-Bombay, did McCorkindale appear to have a cutta, 105 cases. chance. The weather was cold and
3; Madras, 8; Negapatam, 4; Re rainy and the 6.000 spectators Calcutta, 17 Cochin, 1Karach watched from the stands, an
At the Crystal Palace, Eddie goon, 1; Vizapatam, 2; Steele, of Norwood, beat Jim Hay-Macao, 1 death; Hong
Typhus Alexandria ton of Beckhampton. In the fourth cases; Shanghal, 6
round
A
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