1934-09-17 — Page 8

This Prospectus has been filed with the Registrar of Companies, pursuant to Section 36 of the Companies Ordinance 1932..

The subscription list will be opened at 10 a.m. on Friday, the 21st day of September, 1934 and will be closed at or before 3 p.m. on the same day.

The Hongkong Land Investment and Agency Company, Limited.

Incorporated on the 2nd day of March, 1889 under "the" Companies Ordinances of Hongkong.

#

Authorised Capital $10,000,000.00 divided into 400,000 shares of $25.00 each.

Issued and fully paid-up Capital $7,500,000.00..

Issue of $2,000,000.00 4 per cent. Debentures at Par. THE present issue of $2.000,000.00 worth of Debentures now offered for subscription at par forms part of a series of $5,000,000.00 worth of Debentures created by a Resolution of the Board of Directors passed in accordance with the provisions of the Memorandum and Articles of the Company, The present issue of $2,000,000.00 now offered for subscription and any further issue of the balance of the series or any reissue will all rank pari passu as a first charge on the undertaking, property and assets of the Company both present and future without any preference or priority one over another and such charge is to be a floating security.

The Debentures now offered will be issued in denominations of $5,000.00 $1,000.00 and $500.00 each respectively.

Repayment.

All the Debentures now offered will be repaid not later than 30th September 1954, at par but may at the option of the Company be redeemed at par either on the 30th September, 1944, or on any date thereafter fixed for payment of interest by giving six calendar months' previous notice..

Interest.

HONG KONG DAILY PRESS MONDAY, SEPTEMBER 17, 1934.

Editorial and Business" Oños į, 11

Ice House. Street. Tel. 2025)

INDIA WINS

Night Editor (Wanchai Off) One-Sided Game On.

Tel. 94511. LL

London Office: 53, Fleet Street,

B.O. L

The Daily Press.

HONG KONG, SEPTEMBER 17, 1934. "

WHERE'S THE AXE?,

1

After perusing from end to end the Budget speech of the Honour- able Colonial Secretary, it is dif-

cult to say what exactly is the policy of the Government with re- gard to the finances of the Colony. In spite of the fact that "we are now feeling the full effect of the sump" there is no very visible sign

that Government is equally anxious to "slow down" in order to make things easier in these difficult times. We quote the Colonial Se- cretary before going further on this point. We wish to retain." said "bur governmei:tal Thomas, machine as little impaired as pos- sible, so that we may be ready to nove forward as soon as improved circumstances permit." We are re- minded in this respect of Reuter's description' of the St. Leger. "In- the distance post," says the

The first payment of Interest will be made on the 31st day of March, 1935, Calculated from the date of allotment and thencefor-side ward half-yearly on the 31st day of March and the 30th day of Sep-worthy correspondent. "Smirke

tember in each year.

Debentures will be transferable by duly registered transfers, In the form prescribed. The Register of Debenture Holders will be kept at the Company's Registered Office, Hong Kong.

PROSPECTUS.

行

The Hongkong Land Investment and Agency Company, Limited, is well-known throughout the Far East and is a British limited Company incorporated on the 2nd day of March, 1889, under the Companies Ordinances (Hong Kong) for the purposes set forth in its Memorandum of Association.

Police Green

by

In the International match on the Police Green yesterday, the team representing India accounted for the team representing Wales. The match was interrupted rain and when darkness fell only seventeen heads had been played. F. J. Jones (who skipped for Wales) however,

conceded the game to U. M. Omar, the Indian skip.

The winning team scored two sixes and a five in the course of the game and when the seven- teenth head was reached they

had obtained 35 against their op- ponents' twelve.

1

The teams were as follows: M- dia; A. M. Omar, A. A. Razack, K M. Omar and U. M. Omar (skip).

Budding and F. Jones, Wales:-T. Hunter, A. A. Lewis, J.

SUBS ARRIVE

Eightyone To Be, Drawn For

T

If Gossip We Must

The

At Mountain Lodge during the "At Home" given by

His Excellency and Lady Peel recently

W

usual galety prevalled on Saturday at the Hong Kong Hotel, when a large and brilliant crowd assembled to make merry. Particularly attractive

was Mrs.

But no!

ENFIN

By STREWTH)

But why bring that up, as the stilp's steward said to the passen-

ger

don't

after dinner, It signity, and leads us to a défini- tion of gossip, which to my mind is the art of amiable guesswork about slight acquaintance's rather than the utterance of poisonous and positive statements about friends, which, seems to be the rule here.

There comes a time when the soul revolts; when the The 1935 China-pony Subscrip- tongue is covered with a rich and tion griffins were landed yesterday involuntary Allm; when the mind gave the favourite a reminder with morning of the “Nanning." There refuses to be concerned with the were in all eighty-one panies and vagaries of women's clothes and the whip whereupon the favourite

a look over over them revealed escorts. And why not a. Gossip's

Well never mind. 'Hold | bounded forward." Is the govern-

mental machine

mind too? at present that they are in every way up to

Can any muddy horse while I spit. Admiral. En such

а state

eff-the standard of former consign-brained reader of this deplorable THE DRAMA of giency,

the that with

paragraph register a single reason

arrival ments,

of better times in Hong Kong it need only be given a reminder be

fore it would bound forward?

Carrying the simile a little fur-

"The proceeds of this issue together with the proceeds of anyther, the attitude of the Govern further issue or re-issue of this series) will be employed generally in carrying out the plans of development already in progress on the Company's properties and for further working capital as may become necessary in connection with the business of the Company. In par- ticular such proceeds will be employed in building a block of modern flats in Bowen Road and in rebuilding Queen's Road premises of the Company.

ment in keeping its machinery in the same condition as in normal times is not unlike the race owner who in the "off season" goes to a lot of trouble and expense of keep ing his candidate fit. Well might such an owner say that he was adopting this attitude because the horse would be ready to go forward- and race whenever called upon to

There are no outstanding mortgages or charges against the Com- pany's assets.

The accounts of the Company have been audited by Messrs. Percy Smith. Seth & Fleming of Bank of Canton Ballding, Hong Kong, and by Messrs. Linstead & Davis of Gloucester Building, Hongdo so. The fact remains that there Kong, joint Auditors of the Company whose Report for each of the three completed financial years immediately preceding the issue of this Prospectus as regards profits made by the Company and divi- dends paid is as follows:-

AUDITORS' REPORT.

The Chairman and Directors,

The Hongkong Land Investment & Agency Co., Ltd,

Hong Kong. Gentlemen,

three years endec. 31st December, 1933, and certify that the profits We have examined the audited accounts of your Company for the for that period. computed on the basis hereinafter mentioned, were as follows:---

$1.173,975.29 .......$1,212,812.46- $1,131,407.12

is no call to do so and furthermore it is contrary to the interests of the owner and the welfare of the hoïse to train in the off season.

ወን

women,

my

Mrs. du Précourt, another excel-- lent and assured amateur actress, has been asked "to produce programme at the Peak Club in.. February.

I hear that. It will | probably consist of three or four one-act plays, but the cast "has" not yet been decided.

It is rumoured too that in spite of Ronnie True's absence. Cochran's throwouts intend to give another of their hillarious musical entertainments. I think they will have a good deal of;

suitable dimculty in getting & band, but once that is overcome I think we can expect as good a show as last year.

IT'S AN ILL WIND

Searching my mind for further tittle tattle in this barren week. it occurs to me that the biggest influence was wielded by a visitor who never even reached the Colony. I mean the Typhoon... It always has a bad influence; it drives husbands to drink and wives to bridge.

thought what fun it would be to Speaking of bridge, I have often. write a gossip column composed entirely of people's characteristics.

at the bridge table. Mrs. Gross- man plays an excellent game, and so does Mrs. Smalley, Mrs. Turner is good but rather a rigid "con- ventional”. Mrs. Coote plays splendid, rather dashing bridge with occasional purple patches. Mrs. Lewis Bryan holds enormous cards.

But perhaps not! I might get into trouble if I started talking about some of the others.

Signs and portents seem to The ponies will be tried out and for my repeating the flattering

that com- show

Amateur theatricals drawn for in due course, and the and undoubtedly accurate

about the

are again lifting their head and dates for the drawing will be an-monplaces

for the winter young or old of this Colony? Let getting ready nounced later.

me say at once, to avoid giving season. The HKDS intends to

And have you heard of our any offence, that I regard the produce two play, one in

the Bright Young Things' latest ex- women of the Colony (and the

autumn and one in the spring. ploits? It appears that Dress men too if they insist) as the They have a big reputation to reform has reared its ugly head formers as John Robertson, Mrs. the Colony, and that, not content Grossman, Kenneth Kemble and with the irreproachable dinner others It can be stated as a fact jacket, for dancing, some of the that they will give us excellent moving spirits have imitated entertainment. Indeed they are Joseph and adopted shirts of

many colours.

THE TYPHOON

Th Royal Observatory reported / best dressed, most talented and I keep up, and with such fine, per- In, one of the foremost clubs in

beautiful collection of people it has ever been my privilege to meet.

at 5.49 p... yesterday: -

The Facinc typhoon appears to be situated about 700 miles east of Manila, moving slowly W.NW. |VAIN REPETITIONS

·LOCAL AND GENERAL

One case of diphtheria and two The present slump in Hong Kong of enteric fever were reported for might well be called an "off" sea- the 24 hours ended on September son. Its duration no one can 14. guess. It has intensified during

of which no relief from taxation the past few years in each one

has been received by the public. On the contrary several fresh taxes Year ended 31st December, 1931

had been introduced. The Budget Year ended 31st December, 1932

for 1935 calls for no new taxes. Year ended 31st December, 1933

That is satisfactory as for as it These profits, are arrived at after charging all expenses of ad-

times it would ministration, maintenance, and depreciation, and after making such goes. In normal

even have been greeted with a cer- adjustments as in"our opinion, are appropriate, but before making any provision for bonus to stan, or appropriations to free or specifičtain amount of gratitude, but in reserves or dividend. The charge for depreciation only occurs in the these admittedly abnormal days, The when according to the government accounts for the year 1933 in respect of Gloucester Building. profit on sale of properties in 1932 amorating to $322,528.57, together spokesmen, even ratepayers are with certain small extraneous profits, have not been taken credit for slow with their dues, some measure In arriving at the Company's profits as above.

The issued and paid-up capital of the Company during the above of relief should be introduced into

the Budget. period was as follows:-

As at 31st December, 1931

As at 31st December, 1932 As at 31st December, 1933

$7,485,075

$7,500,000 $7,500,000

"comprising fully paid ordinary shares of the nominal value of $25 each. In respect of each of the financial years ended 31st December. 1931-1982 and 1933, a dividend thereon was paid at the rate of 15% or $4 per share.

No audited accounts have been published since those relating to the year ended 31st December, 1933.

(Sd) Perey Smith, Seth & Fleming Audituri

Linstead & Davis

Hong Kong, 28th August, 1934.

Some months ago one of the leading business Institutions in the Colony withdrew the "High Cost of Living Allowance," which they had granted to their employes. Not Be long ago another big institution with branches all over the world cbtained a "voluntary" cut of ten per cent. from the salaries of its

7

But why should one say again? You see we both know it so well. I am prepared to admit that this week I have not per- formed "all the duties of a good Gossip. Prominent social fune- tions have wilted under my ab- sence. I have not even been to. "Saturday-night-at-one-of-the- hotels." Inevitably, with

that, uncanny foresight given only to brokers and gossip-writers, I knew that Miss Petunia Bunn and Dot Kerry would be there in "mouse- coloured oilcloth looking loveller than ever: that Mrs. Gubberly would be exquisitely dressed, and if possible lovelier than ever; that After being knocked down by car No. 1436 in Stubbs Road, a 61-riscilla Bung had a lovely new white "frock and would be, inex- pear-old Chinese woman, Kwan Yen, of No. 12 Tung Yen Street, was admitted to the Government Civil Hospital for treatment on Friday evening.

A collision occurred on Saturday between motor car No. 3236 and lorry No. 1674" at Magazine Gap. The motor Car's mudguard was slightly damaged.

A Chinese amah. Ng Kwan, of No. 13 Tai Wo Street, was sent to the Government Civil Hospital on Friday suffering from a bite re- ceived from a dog, the property of Sgt. Major Sander of Murray Bar- racks,

k

The band

concert which

was

arranged to be held on the St.

stax.

Church grounds last Andrew's A few years ago all govern- ment salaries were "revised,” and

night, took place in the Church In view of the abnormal times in Hall on account of the weather. the Colony, which Government re- There was a large attendance and the band of the 1st Bn, 8th Punjab cognise, the time has come, we fee), for a "revision" in the opposite. Regiment (by kind permission of Lt. Col. O. St-J Baxter and direction.

Officers) rendered a delightful programme of midt!)

The accounts of the Company in respect of the half-year from 1st January, 1934, to 30th June, 1934, have not been audited by the Company's Auditors but have been made up by the Company for the purpose of paying an interim dividend and such accounts shew that the profits for such half-year amounted to $822,509.53 of which amdant the sum of $118,240.85 consists of profits on land sales.

An interim, dividend of $1.50 per share in respect of such half-sub-heads we shall deal with on year (1st January, 1934, to 30th June, 1934) was declared in respect of all the issued shares of the Company.

It will be seen from the above Report on profits by the Auditors of the Company that the present surplus, revenue of the Company is sufficient to pay the interest on the present issue many times over.

The whole of the present issue of $2,000,000.00 has been under written by the Hongkong and Shanghai Banking Corporation and by Messrs. Jardine, Matheson & Co., Limited, who will receive between them for their services a commission of one per cent, on the amount 80 underwritten.

The following Contract has been made

The detalls under the various

J..

pilcably, loveller than ever. And $Q did you And so did the Abyssinian Admiral at the door (who probably knows more than we all give him credit for).

MILITARY DANCE AND TOMBOLA

so good that they are almost apt to err on the side of being, over- ambitious in their choice of plays,

Let us hope no Potiphar's wife will come along. /

The Guides and Brownies

NEWS SUMMARY

The Police and Prison Depart-Baturday. Th weekly dance for all ranks ments held their 13th. Annual will be held at the Garrison Let- Aquatic Sports Meeting at ture Hall on Friday, commencing v. R. C. on Saturday.