1939-04-14 — Page 11

HONGKONG DAILY 'PRESS

Finance and Commerce

PROFIT ON WORKING OF $59,520: MEETING OF

UNION WATERBOAT CO. LTD.

To Transfer to General

Reserve.

$15,000.00

A prönt on working of $50.520,03 | of $51,132.52, with which it is pro- for the year 1936 was reported at į posed to deal with as follows:- the annual meeting of the Union Waterboat Co., Ltd, which was held at the offices of Messrs, Dod- well and Co., Ltd. yesterday, with the Hon. Mr. Stanley H. Dodwell In the chair.

Others présent were the Hon. Mr. A.

Shields, Messrs. H. V. Wilkinson, A. H. Veltman and Y. Yazima Imembers of the Consulting Committee), and Messrs. M. "A. Johnson, J. Howell, B. C. Tavadia and V Yvanovich

shareholders)."

CHAIRMAN'S SPEECH

To Transfer to "Staff leave and Contingency Account

To Transfer to Special

Repairs Account

To Pay a dividend of

Share $0.60 per

on 38,813 shares

To Carry forward to

next accourt

2,760.07

8,000.00.

23,287.80.

2,084.85

$51,132.53*

which hope will meet with your approval.

PAYNE & CO...

Reynolds & Gibson Rubber

FINANCE

ENGINEERING NOTES FROM GREAT BRITAIN

Improved Street Lighting

I

From Our Own Correspondent Liverpool, March 28.

A new system of street lighting. London Our market has kept

for double carriage way roads has with. A week

lately been installed on the out- very steady all

on the Great gradual tendency to advance dur- skirts of London,

Twickenham. ing the last day or so. Political Chertsey Road at conditions are. not sufficiently It is the first installation of its

kind in the world.

stable to warrant manufacturers,

and those speculatively inclined." buying on any big scale, whilst on the other hand, producers display some didence in onering ahead. Yesterday we were informed that the estimate of Malayan shipments for March had been revised up-, ward to 40.000 tons against last week's forecast of 38.000

tons which, in any case, indicated ex- The proposed transfer to staff cess shipments for the current "The Chairman said:-Before leave and contingency account will quarter from that territory. proceeding with the general busi-bring the balance of that account The Malayan Information ness of the meeting. I should like up to $9.000.00, and the appropria-Agency has published the follow- to place on record our appreciation of $8,000.00 for special repairsing up-country figures tion of the interest in the welfare will amply provide for any ex- of the company shown by Messrs. penses found "necessary to reduce M T. Johnson, W. H. Lebert and the running costs of the fleet. - K. Watanabe, who have resigned on leaving the Colony and whose nelp during their period of office has been of great assistance to the General Managers. I now welcome Messrs. H. V. Wilkinson, A. H. Velt- man and Y. Yazima who were in- vited to occupy the seats rendered vacant, and I am sure that our Company will he benefit, materially by the advice and co-operation of these gentlemen.

NEW WATERBOAT

The new waterboat "Tai Sze Ho,"

No. 4. which was ordered last April. was delivered during the first week of January this year, and, I am pleased to say, 13 proving very satis- factory indeed. This motor driven. boat has been. designed with a view to better results in the light of experience gained with the older boats, and many minor im-

The new pumping unit installed

The report and statement of ac-provements on our Nos. 1, 2 and 3 counts for the year ended Decem-waterboats have been introduced. ber 31. 1938. having been in your hands for the prescribed period, I will, with your permission, take them. read.

Production.-Malaya

Estates of 100 acres and over:-

Straits Settlements Federated Malay

States Untederated Malay

States

Jam.

The system, known KLA u211- directional lighting. Is the outcome at the Research of experiments Laboratories of the General Elec- tric Co., Ltd., at Wembley. chief effect is to reduce running costs by more than 60 per cent.. without entailing any sacrifice in emciency.

Its

Ordinary installations using-400 watt lamps can be carried out under the new method with 125 watt lamps; similarly, 250 watt results can be achieved with only 80 watt lamps.

SAVING RUNNING COSTS Thus, where current costs a Feb.

more than £5 a penny a unit, tons tons year is saved per post in running 1317 1,564❘ cost and lamp replacements. Where there is a normal spacing 9,421 10,679 of 50 yards, representing 70 posts per mile, £350 would be saved on 6,952 7,651 every mile of uni-directional light-

Ing. 19.894

17,890

Stocks

Held by Dealers:~.

Feb.

tons

5.374

has a delivery rate of about 200 Federated Malay

States tons of fresh water per hour,

States

Double carriage way roads are, normally "expensive to light, be- cause ordinary lanterns arc designed to direct light up and down the road." This is necessary Jan. on single carriage way roads, tons since trafic moves in both direc- tions, `but G.E.C, research has 5,770 shown that light is required only in one direction-opposing the 3.132 9.194 traffic flow-on each carriage, way

of a dual road,

8.506

8.964

Production-Malaya Estates under 100 acres:—

We have utilized about $7,000.00 Untederated Malay Total sales of water for the year out of the special repairs fund amounted to 583,287 tons, a de- provided in 1937. for the purchase crease of 540 tons compared with of a new pumping unit for our 1937 which, considering the tem- No. 3. waterboat. This pump is porary withdrawal of the Dollar also capable of delivering water at vessels and the reduction in Japan- the rate of 200 tons an hour, and ese tonnage visiting this part, is we can state with all confidence satisfactory.

that we are in a position to meet any demands by large ocean liners whose stay in the harbour is a matter of a few hours, and whose patronage we retain by reason of our express delivery service and Immediate attention to their re- quirements.

The profit on working $59.520.03 as against $64,084,98 for the previous year, a de- crease of $1,564.95, mainly due to the increased cost of coal and fuel oil. This is offset by an increase, under the heading" of dividends, on investments of approximately $2,300.00 and in interest account of about $1,700.00

NETT PROFIT "After making full allowance for depreciation on waterboats, launch and furniture, the nett, profit for the year under review is $48.882.15..

ترک

رو

FLEET EFFICIENCY The fleet has been maintained in a high state of efficiency, and de preciation written off Waterboats, and Launch is in accordance with the schedule adapted by us and which it is considered advisable to maintain.

Straits Settlements Federated Malay.

States Unfederated Malay

States

Feb. "Jan.

tons tons

743

2,042

3.597

GREATER DRIVING COMFORT

Uni-directional lighting actually gives improved revealing power by accentuating contrast of obstacles en the roadway. Driving comfort is increased, as the only light sources to be seen are those on 687 the driver's own carriage way.

In the new "Uniway" lantern 8.339 the whole of the light is reflected in one direction towards the on- 5:654 coming traffic-and an extremely even "flash" is obtained as a re- 7.284 12.880sult of a special diffusing glass, The "flash" Covers an area of тоге than 100 sq. ing. whereas lanterns most ordinary 400 watt have a "dashed" area of only 60 or 80. sq. in. Thus the surface tons brightness

of the lantern per square inch is considerably reduced owing to its greater light emitting area.

Stocks Estates of 100 acres and over:-

Feb. tons

Straits. Settlements Federated Malay

The Chairman proposed and Mr. to which has to be added $2.250.37 Howell seconded the adoption of States brought forward from last account, the report and accounts, leaving for appropriation the sum were adopted unanimously.

AN ANSWER TO PESSIMIST

which Unfederated Malay

States

U.S. BARTER PLAN

Over A Million Bales Of Cotton Available

WASHINGTON, April 13 (Reuter)-Mr. "Henry Wallace. Secretary of Agriculture, -after

1

conference with Prealdent Roosevelt, said that cotton which might be bartered against rubber and tin might conceivably exceed a million bales.

are

Jan.

3:705 3,708

་ 4

27,512 26,808

17.120 16,728

48,337 47,042

MERCANTILE BANK'S ANNUAL REPORT

The following is the forty-sixth From the point of view of con

annual report of the Board of sumption, accounts read quite en- Directors of the Mercantile Bank couragingly. In Great Britain, of India, Ltd.. which was presented the annual according to the Society of Motor to shareholders at Manufacturers and Traders 2,329,- general meeting held at Winches-

vehicles 77

now licensed ter House, Old Broad Street, Lon- compared with 2.175,319 units - a

don. on Mar. 28, 1939:

year ago. In the U.S.A. the Chair- man of the Goodrich Company belleves that the rubber industry has come into 1939 with high hopes of a good business year, for with a forecast of automobile account is £365,770 0. ild. From production of 3,400,000 cars and

Sales Of British Motor Products LONDON.—It is highly satisfac- tory to learn, that despite the difficult political situation, during the 7 months ended March 25, the Standard Co. produced and sold over 30,000 cars--a gure equal to the whole of last season's output:

A considerable increase is also

trucks, an increase of 4 million reported in the production by the

original equipment tyres this year same company of the highly

Mr. Roosevelt is indicated compared with 1938. specialised "Jaguar' engines, gear-advised him to confer with other Latest returns of tyres in the boxca and other units, deliveries members of Congress about legisla- | U.S.A." are as follows:- being five times greater then intion which might be needed both the corresponding period last year. for the barter plan and the cotton

The Motor Industry is certainly export subsidy proposed earlier.

prepared to be busy. During last

year, the Vauxhall people spent

no less than £1,500,000 on build-

He said that

ings, equipment and tools in OVERSEAS

anticipation of the general expan-

sion of the business.

AFFAIRS BUREAU

The Riley Co.-now, of course, TO BE FORMED part of the vast Morris organiza- tion-is once more in active pro- duction with a new 12 hp. cylinder model.

CHUNGKING, April 13 (Central)

Upon recommendation of the Overseas' Affairs Commission the Another noteworthy item of news Executive Yuan decided at a re- Is to the effect that Ford cars gular meeting held here to form will be seen at the next Interna- an Overseas Affairs Bureau at tional Motor Show at Earls Court Hanol to facilitate the entry of in the autumn. Previously, the overseas Chinese Into China. company always held a special dis- play of their own.

TRADE "MISSION TO

U.S. CURTAILED

Production Deliveries Stocks

The balance of profit and loss account for the year amounts to £192,443 8s. 1d. and the amount available after adding £173,326 125. 10d. brought forward from last

this sum has to be deducted £63,000, being the Interim Divi- dend of 6 per cent... less Income Tax on the "A"B" and "C" Shares paid in September last,

The directors have added £12,000 to the Officers' Pension Fund, Feb. Jan.

written £20,000 off Freehold Bank. 3.739,000 4,163,000

ing Premises, and made an addi- 4,344,000 - 4,531,000 tional allocation of £30,000 to Con- 9.573,000 8.932,000

tingencies Account. They now re- We have faith in the future of commend a anal dividend on the rubber providing European dif- "A" "B" and "C" shares of 6 per culties can be surmounted and cent.. less Income Tax (making 12 trade transacted under more paci- | per cent, for the year), leaving à

de conditions.

balance of £177,770 08. lid, to be carried forward.

The following Directors retire by

HUGE US. GOLD rotation under Articles 116 and 117

IMPORTS

NEW YORK, April 13 (Reu- ter)-Gold Imports, to the United States in March amount to $365,000,000, the largest since the Czech crisis in autuma, according to the Federal Reserve Board.

of the Articles of Association, but, being eligible, offered themselves for re-election:-The R& Hon. Lord Catto of Cairncatto and Mr. J. Stenart

THE RAUB AUSTRALIAN - GOLD MINING COMPANY, LTD.

Owing to pressure of business and tion Bureau at Huanglungshan The United States postal au- of Fine Gold recovered 3,765 ozs. trade discussions arising out of Yellow Dragon Hill) in Shenal.

his recent tour to the northern

The meeting also decided to call the third conterence on internal

Statement for, Quarter Ended Feb. affairs on June 15 this year.

25, 1939 (Consisting of Three The total was composed of $250,-' Gen.

Chu

Ching-lan, reller000,000 from Britain, $27,000,000

Four-Weekly Periods) » worker, and Mr. An Hen were ap-from Holland, $37,000,000 frum Bel-

Battery: Tonnage of Ore raised pointed respectively Director and glum, $8,000,000 from Switzerland, 15,212 tons; No. of ounces of Bullion LONDON, April 13 (BWB)-Assistant Director of the Reclaima- and $11,000,000 from Japan.

produced 4,021 czs; No. of ounces

Re-Treatment Plant:-No. of thorities have issued an order pro- hibiting gold imports by mail or tons treated 21,881 tons: No. of parcel post in amounts exceeding ounces of Bullion produced 2443 seas Trade, has had to curtail his A contract for the purchase by $50. The order becomes effective ounces: No. of ounces of Fine Gold

recovered 1,822 ounces." pm RU

Value of Gold, from all sources proposed visit to the United States, the Turkish State Railways of immediately, but does not affect

£42,429 Sterling He will now leave on May 3 more than 50 locomotives from to attend the official opening of British manufacturers was signed the British Pavilion at the New recently. The contract is worth York World's Fair" on May 12, one million pounds Payment is arriving back in England on May to be made under a £10 million

credit: agreement with Britain. 10.

capitals Mr. RS. Hudson, Becre-

tary for the Department of Over-

shipments en route.

LONDON GOLD

London, April 12 (Reuter).. Bar Gold, Fine per oz, 148/61:

· Dollar Parity, 1/24 premium. -

Working Costs £23,601 Sterling. Capital Expenditure (special): NIL

Mine Pront for Quarter (subject. to Depreciation) £18,738 Sterilng.

Stroke of Luck!

DEWAR'S FAMOUS SCOTCHTM

FRIDAY, APRIL 14, 1939. -PAGE 11

LAMMERTS AUCTIONS

PUBLIC AUCTION,

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SOLE AGENTS :

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Bole Agents:

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MOVADO

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TEL. 20616.

Leading the World

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HF. Undersigned have receiv

structions

TO SELL BY.

PUBLIC AUCTION

D

FRIDAY, the 14th APRIL, 1989

Commencing at 2.30 p.m.

At their Bales Room, No. 35 Han- kow Road, Kowloon,

A QUANTITY OF VALUABLE. HOUSEHOLD FURNITURE

Comprking:

Iron, Brass and Teakwood Bed- steads, Divans, Wardrobeš, Dresa- jing Tables, Chests of Drawers, Chesterfield Suites, Sideboards, | Dining Tables, Chaira, · Folding. | Screens, Typewriter Tables, Glass Cabinets, Suitcases, Carpets, Rugs, Mosquito Nets, Glasses, Crockery, Toilet Sets, Cutlery, E. P. and Brass Ware, Wall and Table Clocks, Elect. Table Lamps, Fans and Heaters, Gramophones and Records, Sewing Machines, Ornaments, Cooking Utensils, etc., etc.

also

A FEW PIECES OF BLACKWOOD FURNITURE

and

obtainable from all

leading Stores in Victoria & Kowloon.

2 Radio Sets

V

-CHINESE TRADING CO.

Bank of East Asia Bldg., 4th Floor,

靠可用耐油

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KING'S ROAD, HONG KONG," TEL. 31681-2 ||

品出司公限有油漆炒製民國

Always with

1 Upright Piano by "Hamilton"

1 Double Iron Bedstead

Spring and "Simmons" tress (practically new)

with

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the 13th APRIL, 1939.

FRESH STOCK

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Please come early to

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Price Reasonable Best Quality

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24, Des Voeux Rd.. C.

Tel. 25120, 20972.