1936-03-11 — Page 7

ROTARY TALK

st

Events Of The Day

Discussed

The events of the last few days in Europe, which the speaker sald must have caused a considerable measure of anxiety" gave Dr. J. H. Rushbrooke, of Canton a basly for an interesting and luminating talk when addressing a large ga- hering at the weekly tiffin of the Rotary Club held yesterday at the Roof Garden: of the Hong Kong Hotel.

HONG KONG DAILY PRESS, WEDNESDAY, MARCH 11, 1936.

COMPANY MEETING

DECREASED EARNINGS

Land Investment Reports

The 47th Annua, General' Meet- ing of shareholders of the Hong Kong Land Investment and Agency Co., Ltd.. was held in the Board Room of Messrs. Jardhe, Mathe- son & Co., Ltd., yesterday presided over by Mr. J. J. Paterson, Chair- man of the Board of Directors. A The democratic form of govern-decrease in revenue from rents of ment which the speaker said, he approximately, $116.500 was report has been brought up to think is the ad by the Chairman but this was ideal form of governing a country, due almost entirely to the Com- is being seriously challenged in pany's having to meet with gen- Europe at the present time, Berat requests witnessed by the rise to power of Benito Mussolini in Italy, and Adolf Hitler in Germany. Other of Europe, noticeably Poland, Latvia and Estonia are also under the helm of dictator ship governments.

countries

account of the poor state of busi- ness during 1935,

for reductions on

A loss of $10,500 was shewn re- sulting from the Gloucester Hote. This, said the Chairman was some» what to be expected as a natural sequence of depressed trading " can assure you that the hotel has kept its popularity with a notice- able growing of patronage."

BAD YEAR FOR | HONG KONG

ROPES

Big Loss Suffered

The annual meeting of the Hong Kong Rope Manufacturing Com- pany was he.d yesterday at their offices at No. 8A, Des Voeux Road, Mr. A. L. Shields, the President was in the Chair, supported by the following directors: Sir Robert Ho Tung, the Hon. Mr. J. F. Braga, O. B.B., Mr. S. T. Williamson and Mr.

J. Tavares (Secretary. the The following were

share- tolders present at

the meeting: Messrs. I. W. Shewan, J. Dick. H.

A. A. Botelho. Dreyer, C.WL, Cole. J. Toppin and

SINGERS

Accounts For February

I shall be pleased if you will be kind enough to allow space for the following statement of receipts and expenditure in connection with the performance of the "Messiah" by the Hong Kong Singers in St. John's Cathedral on February 19:--- Expenses Orchestra, including scores .....$170 Printing and stationery............ Advertising Postage and miscellaneous Loss on sale of music Gratuitles Donations:———

GLOUCESTER HOTEL Looking at the result of the Gloucester Hotel an increased loss of

approximately, $10,500 was shown at the balance of that Worklig Account. This was some what to be expected, as a natural sequence of depressed trading but I can assure you that the hotel has kept its popularity with might point out that no reduction noticeable growing of patronage.

in rent was granted to the hotel to coincide with the more or less. Mr. Tavares, the secretary read universal drep throughout the the notice convening the "meeting Colony.

after which the President address- During 1935 only or.e sale of ed those present as follows:- Property occurred bnd this was

Gentlemen,-The Report and Ac- Nos. 11/23 Ice House Street which j counts for the year cnited 3156 was resumed by the Hong Kong December, 1935, having been iri Government.

your hands for the prescribed period. I will with your permis- Collection slon, take them as read.

On the debit side there is little that calls for comment beyond the item of Interest. Here an increase Directors present inc uded:-

of approximately. $14,500 was re- Hon. Mr. J. J. Paterson, (Chair- corded and this was accounted for man), Mr. A. H. Compton. Mr. T by the acquisition of Nos. 15/19 E. Pearce, Sir Robert Ho Hung. Mr. Queen's Road, Central the full Felix A. Joseph. Mr. S. T. Wiliam-effect of which was not reflected

I during 1934.

son, Mr. A. Raymond.

Shareholders present were:- Messrs. G. W. Gray. R. Grelve, B

-- IMMEDIATE PROSPECTS

LOSS REPORTED

50

20

16

30

10

St. John's Cathedral

50

Union Church, Hong Kong... 50

Street Sleepers Society EK Benevolent Society

125

375

}

I

$895

Receipts

$420

that

∙From prograramés ........................ 460 Donation (NKF)

15

$895

It is with much regret your Directors have to place be- fore you a Statement of Accounts which shows a loss in the Com- pany's operations during the past year.

SIR THOMAS SOUTHORN Addressing the gathering before Introducing the speaker, Professor Forster såld that the Arst thing, he had to do, was to offer congra- tulations on behalf of the Rotary Club to an honorary member in the person of Sir Thomas Southorn on nts recent appointment to the gov- errorship of Gambia. ¡Loud ap-

The Net Loss for the year after plause. He (Prot. Forster felt

providing for Directors and Au- sure that he had the permission of

ditor Fees, Depreciation, Inter- all those present to Instruct the

G. Field, A. Stevenson, S. T. W- Doubtless you will expect from est, Commission to General Mana- Secretary to forthwith write a

kamion, Frank Austin, H. Summe some reraarks about the imme-

gers and Depreciation on Invest- letter of congratulations to Strmers. T. R. MacDonald D.. L. New-diate prospects of the Company, ments is $36,678.01. This amount Thomas on his well merited pro-biggin, E. R. Childe, C. E. Tod, P. especially in view of the competi- deducted froin the credit balance Leefe, A. E. Wicox, M. J. Han- tive office space avaliable. The brought forward from the previous terson, M. H. Raliton and E. O. Company rather prides itself upon year leaves $26.155.19 which your Butler,

the service it gives and, as far as Directors recommend be carried CHAIRMAN'S SPEECH

I can see at the moment, there forward to the credit of next Addressing those present the should be little loss of actual ten-year's account. Chairman said:

ants; unfortunately, the few who Depreciation on Buildings, Plant have left since the beginning of and Machinery has been calculat- 1936 are those that were occupants ed on the usual basis and Stocks of large areas,

and Stores taken.in at cost or un-

masion

"

"Professor Forster also said he had great pleaure in welcoming to the club, two fellow Rotarians, Mr. Wong and Dr. Otto. both of Can- Jon, and wished the latter an en- joyable stay in Hong Kong before Gentlemen,-With your permis- he proceeds to Germany on vaca- slor I propose following the usual tion. He also had great pleasure procedure, taking the Report und In welcoming back, Mr. A. Perrin Statement of Accounts as read, With the completion of "Marinacer. "io service" after a serious opera- You will have noticed a change House" the Company is in a posi- tion and expressed keen pleasure, the setting-out of the 1935 Baltian to offer modern accommoda

tion to those wishing to move from of previous years and this has the cooler and airler rooms of the been done in order to shew to older premises ard, with the far-ments. These now stand in Shareholders the position of Company with greater clarity.

The ther rebuilding of those properties books at market value on 31st

now coming towards the end of December, 1935.... their existence, the Company will

In reeing him fit and well again at the Club.

Two guests in the persons of Visitors from, America, who were scated at the official table, were also extended a hearty welcome by the President of the Rotary Club. They were the two so113

of Mr. Lyons, of Oakland, California. Mr Lyons had got in touch with the local Rotary body by letter, ex- pressing the hope that his sons would be able to attend a meeting while in Hong Kong. Mr. Lyons

was the Governor of a district in i America.

THE TALK

Introducing Dr. Rushbrooke, Professor Forster said that he was Karry that he was unable to an- nounce the speaker earlier in the week as was customary. Actually until the last minute, it was not certain whether Dr. Rushbrooke would be able to address the meet- ing or rot.

present,

ance Sheet as compared with those

A further feature is the revalua- tion of Properties the reason for which has been fully explained in the Directors Report."

41

Of course these changes in no

alteration i way mean an

the policy of your Directors, which will continue as heretofore.

You will observe in the Profit and Loss Account the amount of $25.346.25 written off for deprecia- tion on the Company's Invest- the

The loss on Working is the In- be well equipped to meet the de-evitable result of the severe com- mind of all requirements.

petition with which' wệ have had to contend during the year and to the general trade depression.

Turning to the Profit and Loss The Profit and Loss Appropriation Account it is to be seen that there Account shews that your Directors has been a decrease in revenue recommend a Final Dividend from

Rents of approximately $1 per share which, together with $116,500 on the corresponding the Interim Dividend. makes reciprocity

gure for last year. This was die total of $2 per share for the year almost entirely to the Company's under review. having to meet general requests for reductions on account of the poor state. of business ouring 1935.

Dr. Rushbrooke addressing those Allies Thirteen years ago, Adolf

explained that

he had Her an unknown man, then a been busily engaged in moving Corporal of the German Army, about in the interior, visiting vari- with the help of "some other un- ous mission station, and had only knownk" commenced the National just arrived in Hong Kong from Socialistic movement, and to-day Canton by the morning train.

he rules Germany. It is idle to scoff The events of the last few days at his achievements-one has ouy In Europe, he ventured to suggest, to look at the Germany of to-day must have caused a considerable to appreciate what he has ac- -measure of anxiety." He thought He told teh police that he was It would be appropriate to address hieved. Thirteen years ago an un- those present on dictatorship, a known and to-day Hitler holds the form of government that is pre-Chancellorship, and in effect asse valent in Europe at the present the Premiership. time, Mussolini, Hitler and Stalin are names that are known the The world over, and he wondered if one realised the extent to which Europe is being governed at the present time.

He recalled a visit by train to the capital of Estonia-a state formed after the Great War-some years ago, and after crossing the frontier between, Holland and Ger- many, he passed in stages through different states. which included Germany, Poland, Latvia etc, all of which were under dictatorship.

MAGNETIC HITLER

4

As soon as the money is received from Advertisers in the programme payment will be made to the two

Societies

Summary of Year's Working "Elijah" Concert $887 to Hong Kong Benevolent Society.

***Requiani" (Armistice Day $200 to Child Protection Society £10 ($144) to St. Dunstan'a

George V £12 ($188) to St. Dun- "Requiem” (as a tribute to King

star's,

"Messiah" Concert $375 to Hong Kong Benevolent Society, and $125 to Street Steepers Society.

in 12 months.

Total $1,717 to deserving causes

SPECIE BANK'S - PROFITS

10 Per Cent Dividend

Yen

I do not think that the time has yet arrived to allow my saying

The receipt of a telegram from their Head Office to the effect that, whether or not business is upon the upward grade but I am opti-deriving little benefit under the General Meeting of the share- I regret to say that we are still at the 12th Half Yearly Ordinary

mistic.

Empire Preference Scheme.

holders held at the Head Office of LITTLE TO OFFER

this bank at Yokohama on the 10th Unlike other parts, of the Em-inst., a net profit of Yen 18,760, - oplre, Hong Kong. being a free 937.10 was shown," including Yen port, has very little to offer as 9,503,102.20 carried over from last tariff on

for a preferential account... It was resolved to make its manufactures. but the following allocations: this. I hope, may eventually be if Government can press the point Dividend of 10% per obtained on sentimental grounds To Reserve Fund

with the Secretary of State for

annum (for the half- the Colonies when tarifs are bet

year ended Decem-

my ability, any questions that Preference Scheme.

ber 31, 1935) ing adjusted under the Empire Shareholders may wish to raise.

I refer particularly to India On the proposal of the Chair-where we pay the same duty as mán, seconded by Mr. A. Steven- our competitors who have protec-

on the adoption of the reportstion in their own countries. and accounts as presented was car- red unanimously.

Report and Statement of Accounts I now beg to propose that the

as presented. be adopted. When this has been seconded I shall be pleased to answer, to the best-of

OTHER BUSINESS

With a view to reducing Working Cost your Directors affected ali possible reductions in salaries and cverhead expenses compatible with Messrs. A H. Compton and T. E.:arrying on our business efficient- Pearce were re-elected to serve only.

F. MacDonald.

the

To be carried forward

to next account'

1,700,000,00

5,000,000.00

10,060,937.10

Y.16,780,837.10

HONOURING MISS BATTEN

Paris, Feb. 25, Miss Jean Batten, then New Zea-

cord, solo fight across the South Atlantic last November, has been proposed by M. Flandin, the For- eign Minister, for the Legion of Honour, subject to the consent of the British Government, as is customary.

the Board on the proposal of Mr. Appreciating the necessity for land sir-woman, who made a re- Frank Austin, seconded by Mr. Teducing expenditure as much as possible, your Directors and Gen- Other business before the meet-eral Managers have

also volun- personally speaker

nading included

the re-election. of taty agreed to a reduction of 50 heard Hitler, addressing a gather Messrs. Percy Smith, Seth andrer cent in their fees and com ing when the latter delivered an

Fleming, incorporated accountants, mission respectively as from. eulogy at the funeral of the late and Messrs. Linstead and Davis, 1st July, 1935, "Grand Old Man of Germany, chartered accountants, as auditors

above von Hindenburg, and he

The savings referred to (be for the ensuing year at 6 reare embodied in the Accounts for speakers had no hesitation in say muneration of $1,250 zach. This the past year but the ful: beneat ing that "the magle" of Hitler nomination was proposed by Mr. will not be gained unil the cur- was immense. Hitler possessed a E. R. Childe, seconded by Mr. D. L. remarkable voice, and his habit of Newbiggin repeating statements in slightly varying forms, was the real kep to his success. His very limita- tlons explained his appeal.

FORM OF GOVERNMENT

A laay friend of his (the speak- The democratlo form of govern-

er) who had expressed very strong- ment in Europe. is unquestiniably by her distrust of the dictatorship being seriously challenge. He 18 form of government, had one day jone of the old fashioned people herself heard Hitler addreasing & who has been brought up to believe gathering, and although she be that democracy is the best form self knew that she did not agree of government, Germany has as- with his sentiments, she felt the sumed her present form of govern- | could scarcely retrain from cheer- ment, without any help from but-ing with the crowds after his elde powers Following the Great magnetic address War, and the subsequent down- Hitler had received a very mo- fall of the Kaiser, Germany had derate education, but had achieved se, out to be a republic. She is not wonders. But as is common with suited to this form of government" human endeavour, he had minde as are Great Britain or America, mistakes, yet noboy could accuse as she has for centuries been ac- | Hitler of feathering his own

customed to the rule of a Royal nest." His first thought is always House.

for his country, hence his great The Treaty of Versailles, which | appeal to the masses. had been framed In an atmosphere The Rev. H W. Baines in pro- of revenge and fear, led the Ger- posing a vote of thanks on behalf man people to "ineer at their of those présent, expressed gra- rulers, whom they claimed were

vers Interesting under "the dictatorship of the

titude address.

for a

UNITED ASBESTOS

A find meeting of

voluntary liquidation)

rent year.

H

very severe and I hope that the low value of our dollar will help Turning to the credit side us to a certain extent in our sales.

of the Profit and Loss Account you

I now bag to propose that the will notice that the total revenue Report and Accounts as submitted derived from rents is $31,373.57, à to the meeting be adopted and reduction on the figures for the passed and that the credit balance

previous year bf $12.186.14. This of $20,155.19 be carried forward to is due partly to a portion of our 1938 Accounts. When this has Asbestos Orienta. Agency Ltd. (ined at the end of December, 1934, to answer any questions, having the United Ma-tau-kok property being vacat-been seconded I sbal be pleased

in the offices of Dodwell & Co., the rents and vacant flats in our counts, which Shareholders may was held and partly to reductions made in reference to the Report and Ác- Ltd. the Liquidators, at 11 am. 28 Chinese Dweltog Houses

at wish to ask. yesterday morning. “”

Kennedy Town. "

Seconded by Hon. Mr. J. P. Present were: Mr. Stanicy H.

with regard, to, the Ma-tau-kok Braga and carried unanimously.

· RE-ELECTION OF DIRECTORS Dodwe (in the chair), Mr. A. C. I property, a portion of the Factory Bowker (Secretary), Mr. B. S. buildings is still being let on Proposed by Mr. J. Dick and sec- Vieira, Mr. H. J. Bilva and Mr. D.

lease..

onsted: by Mr. C. W. L ̈Cole," Harvey, Shareholders.

"That' 8'r Robert. Ho Tung and' Eir Elly Kadoorie, KBE He Te- meeting an account showing how for current year, I am afraid this

Now as regards: the prospects elected to the Board of Directors."

Carried unanimous y, ducted and the assets of the com-view of the present unsettled state and seconded by Mr. J. Toppin. the winding up had been con-is a difficult matter to forecast in

Proposed by Mr. A. A. Botelho,, pany disposed of and this was of affairs in Europe and out here

"That Messrs. Percy Smith, Beth, adopted unanimously.

in the East. I can only say that and Fleming and Messrs. Linstead The usual resolution as to the our deliveries to date are satis and Davis be re-appointed auditors disposal of the Books, Accounts factory compared with those for for the ensuing year at a renumer». and Documents of the Company the corresponding period of the ation of $500 each," was also carried unan'mously. previous year, Competition is still

The Liquidators laid before the

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