1937-03-04 — Page 2

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"I feel I must write and tell you what beneficial re- sults I have derived from Kalzana. My trouble was debility and anemia. My whole system seemed to wake up with new life and vitality. My complexion clear and bright. I cannot speak too highly of the value of Kalzana,"

writes Miss K.E. E

Attractive YOUTH

depends upon GOOD HEALTH

A woman's health and happiness are depend- ent, far too often, on periodical weakness and pains. And yet, these are entirely natural events, which need not be the cause of so many complaints.

Conquer your periodical weakness by taking Kalzana-the mineral food for better health. It will strengthen your blood cells, increase your power of resistance, diminish pain and discomfort and give you new strength and

stamina.-

Buy Kalana at your nearest chemist to-day and you will soon be convinced that Kalzana really does give the help you need. It will make you enjoy work and pleasure to the full again.

Kalzana

THE MINERALFOOD FOR BETTER HEALTH Obtainable of all Chemists in tablet and powder form

50

Cents

LOCAL DIRECTORY

OF

HONG KONG

(Including List of Factories)

50 CENTS PER COPY

A HANDY

BOOK

HONG KONG DAILY PRESS, THURSDAY, MARCH 4, 1937.

FUTURE OF THE TELEPHONE

(Continued from Page 1)

have so willingly given us in this service is project. Already the exceedingly popular and must in- evitably be the forerunner of simt- lar services to other Cities and to other Countries.

ENVIABLE POSITION. Under* thak at

Attendance at the meeting was! All our plant and equipment has,

accordance fair and included the following:-j been maintained-in Hon. Mr. S. H. Dodwell (Chair- with the highest standards of man), Hon. Bir Shou-son- Chow, practice and I think both subs- Hon. Dr. R. H. Kotewall, Mr. A. Lcribers and shareholders alike will Shields. Hon. Mr. M. T. Johnson, agree that the continued efficiericy Mr. D. H

Blake, Mr. J. Scott | of operation at our system bears Harston, and Mr. J. H. Taggart | eloquent testimony to

Lect. Mr. J. F. (Managing Director): Sherry (Manager): "Messrs Lam Kwal, Lam Shu-wing, D. Tollan, Wong Min-hin, Mak Kłu-chung. 8. T. Williamson, Lo Kat-wing, E M. Raymond, W. G. Grin, C. Hatt, Chua Beng-chop, J., D. Danby T. E. Pearce, Kee Chan-mark, W. C. Clark, A. M. de L Soares, Chan Chung on and Chow Ping-un, (shareholders).

CHAIRMAN'S SPEECH The Chairman in the course of his speech, said:-

You will observe, on reference to the Debit aide of profit and loss, accourt, that the sum payable to Government for Royalties in res- pect of the Bnancial year under review

corresponds closely with that paid in the preceding year. This means that, despite the dif- ficult economic conditions existing during last year, our lines post- tion has been fully maintained. Actually a net increase in lines was recorded, but the demand at- rived to late in the year to have a material influence on the re- venue accruing from this source. It is noteworthy that this is the Arst year since 1932 that we love been able to record a gain in the number of our Exchange Lines, a fact which I think may be regard cd as a definite sign of returning prosperity.

On the credit side of proft and loss account. It will be seen that the balance from working account is $21,047.90 lower than for the previous financial year, but this is offset by the increase under in- terest,

dividends and exchange, amounting to $20,494.74.

GENERAL RESERVE AUGMENTED Turning now to the balance sheet, it will be observed on the Wabilities side that General Re-

the heading "Current Assets", you will observe that our cash position is an enviable one. although of course the balance of, cash at Bankers will be diminished by $460,000-if you approve the proposed allocation of profits, as I have no doubt you will.

The recommendations of your Directors with regard to the al- location of the Balance at credit of proft and loss account are al- most precisely the same as for the preceding financial period and are embodied in profit and loss appro- priation account which, being self serve-provided of course you ap-explanatory, does not call for am- prove of the appropriation re-

plification. commended—will be augmented by $170,482.00, thus bringing the total of this fund up to $936.448.00. The important part which the pro- vision of suitable reserves plays in a public utility business cannot be over emphasized. Indeed, I doubt if we should have so successfully withstood the recent extended period of depression had it not been for the, earlier efforts made to ensure that the financial struc- ture of the Company would deve- lop ori sound and conservative

lines. On the assets side of the balance sheet, you will see that the depreciated value of fixed as- sets amounts to $3,396.874.09.

The Depreciation Reserve, amounting to $2,082,447.00, and the General Reserve are repre- sented under investments which are shown at cost in the sum of $2.955,340.97. The

market value

Any comparison of the Agures before you with those of the pre- ceding year would fall in its ob- ject did we not take into consider at the close of the financial year atton the wide variation in the under review is appended for com- sterling exchange value of the parative purposes and it shows an Hong Kong dollar. During the appreciation of $60,548,60

over greater part of the year 1935 we purchase price, which cannot but had the advantage of a dollar in be regarded as satisfactory in the the neighbourhood of 2/-, where-light of the difficulties encounter as for the financial year under re-ed these days in the selection of view it averaged approximately suitable securities. only 1/34. Notwithstanding the At the last annual meeting my substantial increase in working costs caused by this heavy fall in exchange, it has still been found possible to present to you figures which permit the Board to re- commend the same dividend as last year. This happy state of affairs has been made possible, mainly by the enterprise shown by our Executive in planning the Company's financial and engineer- Ing programmes well in advance. 30 that we are capable at all times of supplying service on demand and of developing subsidiary sources of revenue which augment our re- ceipts and enable us to continut to provide a high standard of ser- vice at the existing low level of subscription rates.

predecessor in the Chair referred to the desirability of establishing a reserve, at a suitable moment, to provide against exchange and in- vestment fluctuation, and I take this opportunity of explaining that the existing satisfactory position of affein has not changed the opinion of your Board that this contingency should be provided

for.

TELEPHONE FRANCHISE As you are aware, we have been operating for nearly eleven years under a franchise drawn up in 1925 when the telephone situation in the Colony and conditions gén erally were vastly different from those existing to-day. The Telc- phone Ordinance introduced legls- STAFF PRAISED

lation based on things as they were Following our normal practice, then. Those who drew it up-in provision has been made on the telligent and responsible as they usual scale for bonus to the Euro-no doubt were could not be ex- "pean staff and, in view of the pected to visualize the position satisfactory results shown, I am which your Company would oc- confident that you will endorse cupy during each successive in- your Directors' action in this mat-ancial period of a 50 years' ter. It is customary to make the franchise.

Es

ciation INVALUABLE

FOR BUSINESSMEN IN HONG KONG

NOW ON

SALE

PRINTED AND PUBLISHED BY

HONG KONG DAILY PRESS, LTD.

Tel. 30251.

MARINA HOUSE

3RD. FLOOR,

15-19, QUEEN'S ROAD.

In

NERVE CENTRE In seconding the proposal, Mr. S. T. Williamson congratulated the Board, management and staff on the showing in the accounts, and added:

1 .The Chairman has now "dent adequately with the points of in- terest, and we are especially grati- Aed to learn of the increase in the number of new lines-our in- stallation is no doubt a nerve centre which clearly reflects by its use the trend of trade-our trunk line with Canton has in- deed accomplished a great deal in the way of fostering and assisting that contact with Canton and China which is so desirable—It is

also pleasing to note the much wider field now at our disposal, made possible by the use of the radio-telephone service between Canton and Shanghai and which has been brought about through the kind co-operation of the Chan- ese Telephone Administration— without being too optimistle, 1 hope that it is still within the bounds of possibility that we wih in our turn in the not too distant future be able to reciprocate by giving them contact with shipping and perhaps points much further-

afield. Undoubtedly radio-phone communication with ships at seu could be relayed through our in.... stallation and would tend to fur- ther assist the business of this

port and also the adjacent ter- ritory, even trawlers and drifters at Home have been fitted for some considerable me with radio- phones and can work through the network of land lines to all points in the United Kingdom.

OTHER BUSINESS

THE TAIKOO DOCKYARD & ENGINEERING

COMPANY OF HONGKONG, LIMITED.

BUILDERS OF ALL CLASSES OF SHIPS.

BUILDERS OF RECIPROCATING STEAM ENGINES. BUILDERS OF MARINE AND LAND BOILERS. BUILDERS OF TURBINE MACHINERY

די

Under License From Messrs. Parsons. BUILDERS OF DIESEL ENGINES

Under Special License

From Messrs. Sulzer Bros., Winterthur. Licensed To Manufacture Lanz Perlit Iron, Specially Suitable For Internal Combustion Engine Working Parts.

DOCK & SLIPWAYS.

FOR DOCKING VERY LARGE, AS WELL AS SMALLER VESSELS,

ON ANY TIDE.

ALL CLASSES OF SHIP, ENGINE. AND BOLLER

REPAIRS AND EXTENSIVE

WELDING, BOTH ELECTRICAL AND OXY- ACETYLENE SKILFULLY AND PROMPTLY CARRIED OUT.

BUTTERFIELD & SWIRE. Agents,

HONG KONG, CHINA ♣ JAPAN,

TEL AUDREM: "TAIKOGDOCE," HONG KONG. TELEPHONE: 30211

CAEL FLAS" NUMERAL UNE“ Oven * PaxNANT ÅNG."

SMART MAN!

he uses Anzora

A very smark idea! For a little Anzora used on the bair in the morning will keep it tidy until

bedtime. And a neat appearance is an asset, socially or in business There is no other hair fixative as good as Anzora-for more than thirty years it has been supreme, And it suits every head. Anzora Cream for greasy scalps, anzora Viola for dry scalpa and Anzora Brilliantine if you prefer glossiness.

ANZORA

Other businesses dealt with by MASTERS THE HAIR

the meeting were as follows:-

Proposed by Mr. E. M. Raymond and seconded by Mr. D. „Tolian, the Hon. Sir Shou-son, Chow, and Mr. D. H. Blake were re-elected to the Board.

Proposed by Mr. J. D. Danby and seconded by Mr. T. E Pearce, Messrs. Lowe, Bingham and Mat- thews were re-elected auditors for the ensuing year.

ASSAULT CHARGE

༔་

payment of the bonus to the local Such rapid expansion could not For assaulting Ho Sul 44. Chinese staff prior to Chinese New | be foreseen, and as result vegatable, gardener at the Tung Year, and the usual procedure was anomalies are beginning to reveal Tan Village on March 1, Ngan followed in this instance. I am themselves which, by their ten-Chan, 27, vegetable gardener and sure that I am volcing the senti-dency to create an inflexible order Kong Wah Pak, 38, were brought ments of all shareholders in pay- of things and limit the Company's before Mr. Barnett yesterday ing tribute to the staff who, by prospect of reward. circumscribe morning at the Kowloon Magis- their loyalty and steadfast ri- | its activities and threaten-in the tracy. deavour in the interests of the not very distant future-to de- Inspector Portallion, prosecuted, service, have contributed no prive is altogether of the incentive and stated that the complainant. small. measure to the success of to ever increasing efficiency. I who was seriously injured, was your enterprise.

cannot believe that it is in the still in hospital and added that You will observe that the sum best interests of any community he will most likely remain there which your Directors recommend that there should ever come a for some time. should be appropriated for depre-time in the life of the franchise of

The case was accordingly re- $7,193,84 less than one of its most important Public manded for a week. that appropriated for the previous Utility Companies when it would inancial year; you will recollect, pay the Company better to rest however that, when my predeces on its laurels rather than strive sor in the chair addressed you at for the last word in efficiency and the last annual general meeting, service-yet this is what may hap- he pointed out that the provision pen. for depreciation for the year 1935 was some $40,000 In excess of that provided for the year 1934.

DELICATE NATURE OF PLANT It always has been and, I hope, it always will be the policy of your Board to make suit able provision for deterioration year was an epoob making event. The theft was alleged to have and obsolescence even though this inasmuch as it marked the inau- been from the overcoat pocket of should entail a reduction in the guration of the first commercial a man named Harry Stoller, at balance of profits available for dia-radio telephone service from Hons West Ham Greyhound Stadium. tribution to Shareholders, as in Kong. It is of course, recognised Craigen pleaded not guilty, and fact it has done in the past. Bear that radio telephony is comple- denied that he and his wife, were

mentary to, and not competitive hard an

FORMER PILOT IN TEARS

Stated to be a former £000-a- year Imperial Airways pliot, and owner, with his wife, of large

RADIO TELEPHONE SERVICE Bince our last annual meeting, I am proud to say that we have blocks of Hats in the West-end, scaled one more rang in the ladder. John Samuel James Craigen, 38, of progress. The opening of the was in tears when he appeared at Hong Kong Shanghai Radio Tele- in Old Batley charged, with steal- phone service on February 1, this ing £3,

ing in mind the delicate nature of much of your plant and equipment with, radio telegraphy, both sero declared that the £3 which and that it operates under clima vices having their well denned was found on him was the result tle conditions which articularly spheres of usefulness. The con-of a bet on a dog. adversely affect electrical apnection has only been made posal-Evidence as to Craigen's good paratus, I am confident that such bie by reason of the existence of character was given by the Mayor a polley will commend Itself to the Hong Kong-Canton Trunk of Holborn, you. The sum recommended for Cable, the radio telephone service Craigen was found not guilty, appropriation to depreciation for itself being operated between Can- and in discharging him. the Common Berjeant remarked: "In my opinion you have only yourself to blame for being in the position "You now, are.

the year under review is $303,187 ton and Bhanghai by the Chinese

70, which your Directors consider sedquate against wastage of fixed assets, based on original cost,

Government Our gratitude is due to the Chinese Telephone Admin istration for the co-op

From all Chemists. Hair

and Stores dressers

ANZORA PERFUMERYĮ Co.Ltd. LONDON, N.W, 8)

ENGLAND

So much that in besitiful and romantic wwalin you in Austria: Vienna-the world's music cents; Salzburg--the festival city; the Styrian woodlanda; the beautiful Danube vilay; the fakes of Szizkemas- mergui and Cacinthis; the Tyrol and Vorarlberg — lands of pleurcaque pessants and snow capped moningini; and the lovely kidscapes of Lower and Upper Austria. Both for Summer Holidays (Golf, Tennis, Swimming, Climbing, etc.) and for Winter Spons, Austris bas become more popular thas cres. Come to Áustria at any time of the year--you may be of a kindly welcome.

Come to Beautiful Romantic Austria

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