1936-03-31 — Page 11

HONG KONG DAILY PRESS, TUESDAY, MARCH 31, 1936.

DIRECTORS' FEES QUESTIONED

INVESTMENT QUOTED AS NOT PAYING

China Entertainment And Land Investment Meets

The erection of new office buldings, the general reduction. of rentals. were some of the reasons which accounted for the rather poor appearance of the balance Sheet of the China En- tertainment and Land · Investment Co., Ltd, and were put for- ward by the Chairman at the Annual General Meeting of the Shareholders. yesterday when they held their meeting fu the Company's offices on the fifth door of the King's Theatre Build-

"

Sir Shou-son Chow was in the Chair and was supported by the following directors: Messrs. Li Jowson, Chan Kwai-yuen, Lang Chi-hae and G. K. Sun (Secretary}.

The following shareholders were also present: Mrs. L. Char ton, Measts. Hung So-yin, Il Lin-chi, C., Wai- Lit, C. K. Од.

Chairman's Speech

Genero.

Chair-

The notice convening the meet- Ing" was read by the Manager, after which the man read out the report year and said,

Mrs. Charlton: And what is this investment of $20.0007

The Chairman: The investment

think this was a very

good in- vestment, and I am inclined o agree with them,

The Chairman: When made the investiment we thought it was good, We are only ha- man As far as our foresignt went then, we did our best, but the investment turned out un- fortunately, Still we do not think

It is entirely wrong and we are hoping to get our money back.

I hope you are salified with my rep.r. We are doing our best in the interests of the sharehold- ers and we shall continue to do If you think you can find any party who think they wit be able to come in and with us, we shall be glad to re- ceive them,

10.

work

Mrs. Charlton: I do not" think they will be prepared to come th with you. but if you would be pre- pared to receive a firm offer for the lease they would make it.

The Chairman: We do not "know what the firm offer is yet.

Mrs. Charlton: I will follow it up with you afterwards.

The report and accounts were adopted.

CROSSWORD PUZZLE

6

Fi +

18

IN

In

39

81

89

23

28

130

NOTE-Figures in parentheses indicate number of letters, in the words required.

ACROSS 1-Unhealthy sound of an ad- vance in the auction-room (8). 8.-Victorious (and hardy?) em-

blem (6) 10.-Such

rejection makes' 113

7

flare (7) 11. To do this to a train may necessitate the track being

.

its anagram (6). 12,-Native of S. Africa (8). 13.-Runs over many of its fellows in the course of its journey

(7).

THE DIRECTORS QUESTIONS

The re-election of the following retiring directors. who being eilgi ble offered themselves again, was proposed by Mr. Li Lin-chi and seconded by Mr. Chang Kwal-;17-A month of charm (5)

18.-Tate's condition (5). 18-Hunted, perhaps,

16. It's not only sailors who dia- Hike being left in such a bitch

(5),

:

.ve

Mrs. Charlton: I think have about sufficient directors as it is for what it is costing as as shareholders. I think we spend sufficient money on dir- ectors' fees and I am not sure that we should not have less: $9,600 for directors' fees is too much.

or the was made main's to avold compe-yuen:-Sir Shouson Chow and Dr.

tition. Indirectly we are benented S. W. Ts'o. Gentlemen:You will see from as the reduction of Theatre adver- the balance of Working Account, † fising and film rentals to mor as shown in the Profit & Loss than make up the sum we have Account, that there is a decrease invested. Although the Company of approximately 30 per cent. in

in which we have invested OU. theatre-turnings as compared with $20,000 is not making money, as hose of the previous year. This we anticipated, stil we cannot say decrease is due partly to adverse those investments are va ueless trade conditions prevalling in the However, I hope that business wi!! Co ony, and partly to the large Improve and the Investment will worth more then what it cost. We number of Chinese talkies, prodne-

made these favestments at a time when the Queen's Theatre Was our keenest competitor and In order to prevent them oficring

e and shown in Hong Kong:

hese Chinese pictures absorb big proportion of the Chinese cinema-going public, as although

there is no comparison whatever higher percentage of film cant to between the Chinese-produced the distributors. This percentage pictures 'to the American and Eng❘ used to be between 40 and 50 per lish pictures as to acting, produc-cent., which we had to give to the tion, recording, etc. the dialogue film companies. Now we have con- and jokes of the former are more

readily appreciated by the Chin cse. Another facror Against US was the large number of Chinese theatrical troupes performing in the Colony during the year under review.

11

On the other hand. I am glad to say that our expenditure has been reduced by another 15%, and further economics in this direction will be made.

RENTAL'S DECREASE ·

trol of the Queen's Theatre

and

have reduced the alm percentage to between 30 and 35 per cent. In former times expenses were very heavy. Advertising In English papera used to cost Eetween $4, 200 and $5,000 a mont but by

The Chairman: That is a dii- ferent matter. The question is the re-election of the directors. When

the company 2go until

started six

years

ast year we had 18 directors.. Since then we have cut down both on directors, and their fees and are doing al we can to cles of Association the directors' reduce expenditure. In the Arti-

fees used to vary between $500-and. $1.200 and that has been reduce

to $800 and the directors from 15 to 10. Usually directors' fees ar never less than $1,000. Do you! agree with the re-election?

Mrs. Chariton: I think I am

working together we have got the utvoted. So it is unnecessary to same large space for about $1,500

answer.

The motion. was put to the vote

month including English and Chinese papers. Actually we have and carried with Mr. Charlton the

paying concern.

t

saved more than this. amount. NOT A PAYING CONCERN Mrs. Chariton: Our rent receipts for the year when the money was loaned

But you knew also show a decrease of approx-the Queen's that they were not mately 25 per cent, as compared with those of the previous year. due to the general reduction Q1 rental following the completion r a number of new buildings with ample office and shop accommo- dation. I am glad to report, how- ever, that as from Apri: th's year all cur vacant office rooms wil be occupied, including the dance hall on our top floor which has been left vacant for over a year.

One big item in our expendlace

account is the Entertainment Ta

ture.

ony dissentient

ARTS ASSOCIATION

OTHER BUSINESS Fleming, auditors, were re-elected Messrs. Fercy Smith, Seth an

on the motiön of Mr. Li Jowson. seconded by Mr. Hung So-yin. The Chairman:" Not exactly, it

The meeting was then closed. w's paraged by the Hong Kong

Those present were: Sir Shou- Amusements and they were makson Chow (Chairman), Messrs. L ing money: Indirect y we are sav. Jowson, Chan Kwai-yuen. G. Sun ing this loan in reduced expendi- and Liang Chi-hao (Director), Hung So-yin. Li Ln-ch, C. Wat Mrs. Charlton: I would like to Lit. C. K. On. Mrs. Charlton and think that that was so. It is ap- Mary Tang (shareholders), and parent that the King's Theatre Mr. Paul M. Hodgson, proper, at present. Is not a pay- think that it is due to the inter- ing concem. Therefore do you

should leave this cinema out? I ests of the shareholders that

think we could get a reliable man 000 per annum and so ensure the to take the cinema over for $72- shareholders a dividend for which, at the moment, there is no hope. Director): We have tried that but Mr. Leung Chi-hao (Managing Prospects for this year are much when it comes to getting the new A.S.A.A. brighter, and we hope that we tenant to make a deposit it is a sha‍l have a better report to pre-different matter and" sent to you at our next annual

have not succeeded... While meeting.".

have a certain amount of money The net profit for the year un-

coming in we do not want to der review. after writing, of $25, to that trouble. These tenants 472.84 and reserving $20,000,00 Jor Film Rights and $5,000.00 for Bad talk about several thousand dollars

which absorbs a large percentage of our theatre earnings. For in- stance. during the year under 70- view, we paid something like $40. 000 in this tax, and this burden is the more keenly felt when bus!- ress is bad.

I am glad to say, however, that

Debts amounts to $1,450.49 and with the balance of $1,515.4: gt forward from the previous

year makes a total of $3,005.93 which your Directors recommend to be carried forward to the n account.

I now propose that the report "of the Directors and the state-

ment of accounts,

presented,

be adopted.

Mr. C. K. Yan seconded.

A DISSENTIENT

Mrs. Charlton: There is one item

i would like to enquire about. That is the "loan to other .com- panies."

The Chairman: You are referring to the $16,000 loan. This joan " gradually, being repaid to us and at the same time we think it ad visable to provide a resorve for

80 far

We

Office Bearers For 1936-37"

elected.

The following were unanimously office-bearera ot the Arts Association of the Hong Kong University for the Bession 1936-37: President: Mr. T. A. Martin,

Vice-President: Mr. M. A. Cooper, we B. Com, Mr. A. H. Paterson, B.A. we (Oxon), Mr. Chan Sik Kan, B.A.

Chairman; Mr. Cheng Yum Yue. Vice-Chairman: Mr. Woon Wah

Stang.

Cheung

Hon. Becretary; MY. rent but when it comes to getting Wing Ngok. them to make a deposit they do Hon. Treasurer: Mr. Ho Yix not make it.

Fwee.

Hon. Vice-Presidents: Lady Bella Southorn. OBE, The Vice-Chan- cellor, The Hon. Mr. M. E, LO.

The Chairman: We wish to thank you, Madam, for your sug- gestions and the Board of Direc- tors will look into the matter. We Hon Members: Mr. Tang Shiv have discussed what we .COM do | Kin, Mr. H. K, Woo, Mr. Kwok Shig and anything practicable, we shall Lau, Mr. Lo Yuk Tong, Mr. Mok do for the best. The shareholders Kong Sang, Prof. R. K. M. Simp- do not understand the running of son, M.C., MA, Dr. R. H Kotewall, the thing entirely.

CMG, Bir Robert Ho Tung, Prof. Mrs. Charlton: I such a tenant Hsu T1-shan, MA: B. Litt., B.D.. could be found, would you consid-ME. G: Birch, MA, Mr. A. B er renting the cinema out for $72, Reynolds, B.A., and Mr. N. H 0007

The Chairman: Certainly;

if

we can find a tenant who wil pay us better than this, we shall,

Mrs. Charton: About this 'pan; it is being repaid at $1,000 month. How long have they been paying it back?

France, MA. URBAN

Acountry business man. 9 visiting Sydney, asked a firm with which he had dealing to lend him a man to show him, round for, a day "a temperance, man,

he

bad debts as times are not so The Chairman: for five months added, "but not bigoted, good. This loan was made to the up to the end of December, andA week later he telephoned nak Queen's Theatre who are paying they have been paying, regularly ing a similar favour "But," said us back at the rate of $1,000); a | since. month. This company is working together with the Queen's The

tre.

he, "play a bit lighter. Don

NOT A GOOD INVESTMENT send that fellow with the hollo

Mr. Charlton: I see that the legs and blotting paper in his auditors say that they do not boots."

phants (5).

by sven-

̈5-Absolutely nothing on for the

moment (4). 6-Water colour (4). 7-4/5ths of the scare is winged

(15).

3-Carry back in both directions

(8)...

9.-The tree which makes a

number roguish (5). 14-A word of welcome (5). 16. This famous singer sounds good enough to eat (8), 19-An opera from the course

(5).

1:

7.

20. Such intuitive discernment might become frall (5). "31-Crivit of a kind (3).

22.--A writer from Inverness, but

no Scotsman (5).

23. Join as it is, but "the reverse

otherwise (5). · --

24.-The border of the subject, 12. Boast of a relative after five. conies in the middle (5).

(5).

26. Be contiguous (4). 25.-This weapon can be got in 27-Wait for It! (4).

brace (7),

28.-Tidings from all four points 29.-The beetle which gives the

of the compass. (4). sailor a cleatrix (6).

YESTERDAY'S SOLUTION Judicial fur, maybe (8). 31. Not up to the mark, but not

terally this, we hope (7). 32-A current moving at random

(6),

30

33-Always, in a certain direr-

tion, harsh (6).

DOWN

The following is the solution of yesterday's puzzle:--

Across-1. Homer; 6, Bairn; 9. Elderly: 10, 8-US.A.-n; 11, Rotor: 12, Esparto; 14, 81-new: 15. To-e: 16, Norse; 17, Ether: 19, Ate; 31, Eared: 23, Engaged; 24, Score: 25, Inter; 26, Fullest; 27, Meets: 28,

1. Sometimes to be seen on a Berge.

throne to be copied (5).

Down-1, Hosts; 2, Misanthrope; 2-Not so common as of vore 3, Renew; 4. A÷dept; 5. Crore: 6,

(5). --

Byron: 7, Interpreter: 8, Nerve; 13, 3-This man may be a producer Aorta; 17. Epsom: 18, Reefs: 19,

of bulls (5).

Agile: 20, Egret; 21, Edits; 22, Dirge.

4-Valley novelist (4).

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