1940-03-22 — Page 12

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PAGE_12-HONGKONG DAILY PRESS

HONGKONG.CANTON &MACAO STEAMERS

JOINT SERVICE OF THE HONGKONG.CANTON & MACAO STEAMBOAT CO LTD THE CHINA NAVİGATION CO.LTD

TRAVEL

THE

SHORT

SAFE

SEA

WAY

by the

British Line

CANTON LINE

WEEKLY SAILING

MACAO LINE

DAILY SERVICE

(including Sunday)

Note:-All vessels equipped with Wirelcan. QUEEN'S BUILDING, CONNAUGHT ROAD

Telephons 20101"

APS

BURNS PHILP LINE

Passenger & Freight Service To

AUSTRALIA

We have

a vessel

Salling for

SAIGON

MADANG,

SALAMADA,

RABAUL,

SYDNEY AND

MELBOURNE

about the FOURTH Week in MARCH

Excellent passenger accommodation with a large number of single cabins at no supplement. Built-in Swimming Bath and Spacious Sports Deck.

Passenger & Freight Agents:- GIBB, LIVINGSTON & CO., LTD.

P. & O. Building. Telephone No. 28031.

THE

FUNNE

BLUE

LINE

#REGULAR AND FAST PASSENGER •SERVICES |

FREIGHT AND

Well TO UNITED KINGDOM PORTS. placed END OF MARCH Sailing. For dates and ports of call apply to Agenta.

PACIFIC AND NEW YORK SERVICES are - maintained as hitherto.

Information regarding INWARD CARGO and all matters relating to freight and passage will gladly be given by

Butterfield & Swire,

Tel. No. 19382.

Agenta.

Connaught Rond

EXTRAORDINARY

MEETING

Increased Of Capital Approved

Continued From Page 4

Increase In H.K. Visible Trade

IMPORTS & EXPORTS

IN FEBRUARY

According to

an official report

Addressing the extraordinary general meeting which was held immediately afterwards, the Chair.released for publication by the Superintendent of Imports and man saldi

Exports, the combined values of imports and exports of merchan dise as declared during the month of February, 1940, totalled $95.2 millions (£5,9 millions) as pared with $73.3 millions (£4.5 millions) in February, 1939.

Before putting the Resolutions to increase the Company's capital and to capitalise part of its Re- serve Fund to the meeting I think a few words of explanation as to our reasons for destring to crease the capital of the Company, are due to you: you will be aware that the original authorised capital the Company when it was formed in 1889 was $300,000.00. In 1899 the authorised capital was Increased, to $800,000.00. In 1920 the authorised capital was again 'ncreased to $3.000.000.00 and was further increased to $3,000,000.00 Im 1928.

In the 12 years which have elapsed since our last increase of capital the generating capacity of the Power Station has been in- creased from 18.000 kilowatts to 54.000 kilowatts and the normal steaming capacity of our boller house plant from 207.000 lbs. per hours to 557,000 lbs. per hour. In the same period the units generat- ed have increased from 38 million cdd to 72 million odd

OUT OF REVENUE

All these extensions have been financed out of revenue and conse- quently we think it only right that a part of our Reserve Fund should be capitalised, but before we can do this it is necessary to increase the authorised capital.

com-

In terms of local currency the total visible trade of the Colony increased by 29.9 per cent. February, 1940, as compared with February, 1939; and by 31.1 per cent. in terms of sterling.

IMPORTS

Imports of merchandise in Feb. 1940, totalled $53.0 millions (£3.3 millions) as compared with $38.8 millions £2.3 millions) in Feb., 1939, "and exports $43.2 millions (£2.6 illitons) as compared with $36.5 millions (£2,3 millions).

Imports of merchandise in Feb. 1940, increased by 44.0 per cent. 'in terms of local currency, and by 43.5 per cent. In terms of sterling. Ex- ports of merchandise In Feb. 1940 increased by 15.6 per cent. In terms of local currency, and by 13.0 per cent. In terms of sterling.

TWO-MONTH PERIOD During the first two months of i 1940 Imports of merchandise total led $122.6 millions (£7.8 millions) as compared with $77.5 millions (£48 millions) in the correspond- ing period of $1939 and exports $104.2 millions (£6.4 millions) as compared with $76.7 millions (£47

millions).

We believe that progress will Imports of merchandise increas- continue and to meet this our En-ed by 58.2 per cent. In terms of gineers have advised us that pro-local currency, and by 58.3 per cent. in terms of sterling: exports in- vision must be made in the near

creased by 35.9 per cent. in terms future for the purchase of more generating plant, more boller plant of local currence, and by $0.2.per

cent. in terms of sterling. and a new main switchboard; it is hoped to continue the Company's

-N

long standing practice of financing H.K. VOLUNTEER |

extensions out of profit but we' think it wise to make provision for calling up new capital should such .. procedure become necessary.

REASONABLE FIGURE. Your Directors are, therefore, of the opinion that it is advisable to increase the capital to an authorm- ed amount of $18,000.000.00 now. rather than increase it from time to time as more issued capital is required more especially as in their view the Company cannot, possibly be considered to be otherwise than the at reasonably capitalised; figure

I trust you will be satisfied with this explanation and I now have pleasure in proposing that: The capital of the Company be increas- ed from its present capital of $6.- 000,000.00 Hongkong Turrency divided into 600,000 shares of $10.00 each to $18,000,000.00 Hong- kong currency divided into 1,800,- 000 shares of $10.00 each and that such additional shares shall rank in all respects pari passu with the original capital of the Company.

Mr. Wong Chi-po seconded and the resolution was adopted.

CAPITALIZATION OF EROFITS

ORDERS

Orders by Lt. Col. H. B. Rose, M.C. Commandant, H.K.V.D. Corps PARADES

Ist Battery Mar. 26, Belchers, 5.30 pm. D.R.F. Class under 2nd Lt. H. S. Jones and Sgt. Elsley. Dress: Overalls.

2nd Battery

Mar. 26, 5.15 p.m. Q.M. Store will be open for the issue and return of kit.

4th Battery

Mar. 26, D.EL. School, 5.30 p.m. D.EL. personnel. Dress: Overalls. 5th A.A. Battery Mar. 26, H.Q. 5.30 p.m. Those de- talled. Lecture. Dress: Mufti,

*No. 1 Company Mar. 26, HQ. 5.30 p.m. As Com-

pany, programme.

Army Service Corps Company, Supplies Section: Mar. 25 HQ. Drill Dress: Overalls 5.30 p.m. and S.D. caps. Those detailed from Transport Section will attend also.

E. N, Thursby Captain, - Adjutant, HK.V.D. Corps.

GOVT. MEDICAL HEADQUARTERS

SATISFACTORY

POSITION

Chinese Est. Ltd.

Meeting

The very satisfactory pos)- tion of Chinese Estates, Ltd.. was disclosed by Mr. Leung Kwa-tin, Chairman of the Board of Directors, in his ad- dress to the shareholders pro- posing the adoption of the report and accounts for the past year, at the annual gen- eral meeting yesterday. Mr. Leung said, in part: The net profit for the year, after providing for reserve for de- preciation

Building on China ($50,000.00). directors' and sudi- fees and all expenses. tor's"

$156.221.10 which, amounts addea to $136,468.82 brought for- ward from last account, shows a total of $292,689.92.

FRIDAY, MARCH 22, 1940.

FOREIGN MAILS

HONGKONG, SATURDAY, #3rd MARCH, 1940, 2.30 AM,

'EASTER HOLIDAYS

On Saturday the 23rd March and Monday the 25th March, the General Post Office and Kowloon Central Post Office will be open from 8 am to noon, Sheungwan Branch Post Office will be open from 8 am to 10 am and the other Branch Post Offices will bé entirely closed.

There will be one collection from the pillar boxes each day as on Sundays and one delivery of regts:ered and ordinary correspon.

The Branch Post Onces at Stanley, Talpo. dence each day at noon. and Un Long will also have one delivery of ordinary correspon- dence at 11 am, on 23rd and 25th March -

The Money Order Office will be entirely closed during the Hok- days.

Small Packet Post to all countries is suspended.

INWARD MAILS

From

The net proft shows an increase of $32,215.58 over that of the pre-Straits. vious year. This is attributable to U.S.A., Honolulu, Japan and Shanghai (San Fran-

cisco date, 14th February).

the fact that, owing to the ad-

Air Mail by "Pan American Always Direct Ser- China of position vantageous

vice" San Francisco date, 12th March. Building. all shops and office rooms were let out during the Japan and Shanghai,

Rabaul and Manila, year.

You will note that the sum of Shanghai and Amoy $50,000 provided for reserve for Shanghal depreciation on China Building is Canton

than that of the Shanghal and Amey $20,000 more previous year. It is the opinion of the directors and the auditor that in this time of war, with an uncertain future, it would prudent to adopt a conservative

Air Mail by "Imperial Airways Direct

London date, 16th March Haiphong and Fort Bayard be Shanghai

Manila.

Manila, policy in regard to reserves." With Straits. this opinion year directors trust

Haiphong and Holhow that all shareholders will agree.

Your directors are glad to be Japan and Shanghai, able to recommend to you a larger Haiphong. Holhow & Fort Bayard, dividend this year,

Your

directors

are

.of

Japan.

the Manila.

Japan. Shanghai

opinion that the present sound position of the Company justies the payment of this larger divi- dend. and they hope that this will ineet with your approval.

Mr. Lo Chung Wan seconded the adoption of the report and accounts and the motion was car-

and

OTHER BUSINESS

Sir Robert Kotewall proposed, Mr. 10 seconded that Messrs. Fung Ping-fan and Leung Ting-kal be, re-elected

Directors

Air Mail by "Air France Direct Service”.

date, 20th March.

Bangkok and. Tourene.. Straits and Palembang. Canton Haiphong

Java and Manila, ...... Shanghat

Japan and Shanghal.

Due

23rd Mar.

23 Mar.

24th Mar

24th Mar.

Service"

25th Mar.

25th Mar

25th Mar.

20th Mar.

25th Mar.

26th Mar.

26th Mar

26th Mar.

Faris

27th Mar

7th Mar.

27th Mar.

27th Mar..

27th Mar.

·28th Mar.

26th - Mar.

28th Mar.

29th Mar.

9th Mar.

30th Mar

30th Mar.

31st Mar.

Lat Apr.

2nd Apr.

3rd Apr.

5th Apr.

6th Apr.

U. S. A., & Manila (San Francisco date, 28th Feb.) Air Mall by "Imperial Airways" Direct Service"

London date, 20th March.

Japan.

of the Company for the ensuing USA, Honolulu and Japan (San Francisco date,

year, The motion was carried unanimously.

Mr. LA Tung auditor.

.. 5th March)

was re-elected. S. A. Honolulu, Japan and Shanghal (Ban

Francisco date. 20th February),somice...

Japan and Shanghai

Calcutta, Straits and Saigon

Next Month's Sapen and Shanghal

Blackout

Japan, Shanghai and Formosa Sandakan, Shanghai Japan. Saigon.

Japan and Shanghai Shanghai

The public are again reminded that a series of blackou, exercises will be held on April 11/12.

At the recent blackout, it was straia and Manils apparent that a good many motor

Australia and Manila. drivers were not conversant efther Calcutta, Straits and Saigon.....

the Lighting Control Re- Java and Manila...... gulations or with the methods which should be employed to obscure motor car lights,

with

In order to assist owners and- drivers of vehicles, "the Director of Air Raid Procautions announces that a pracacal demonstration of the methods which should be em- ployed to, obscure motor car lights. will be held at A. R, P. Head- quarters. Lower Alber, Road, at 3 It is notified, for Reneral in-pm, on Thursday, 28th instant, formation that Government Medi- It is hoped that owners of cars cal Headquarters will be closed for will make every effort to atend

business He said: "We now come to the

ordinary

during its or to send

chauffeura. their two resolutions relating to the

transfer to the National City Bank The demonstration will be given. capitalization of part of the proBuilding on Mar, 28, and only en- both in English and Chinese. ats which are standing to credit of the Company's Reserve Fund.

The Chairman next moved the two resolutions relating to the capitalization of profits and the dealing in fractions.

the

As I have already explained your Directors think it fair that

part of this fund should be dis- tributed to the Shareholders in the form of bonus shares and with this end in view I propose:

quiries and correspondence of an extremely urgent nature will be dealt with on Mar. 29.

AIRPORT DANCE

Manila.

Europe via Suez and Straits-(London date. 3rd

February).

Japan.

OUTWARD · MAILS

Registered and Parcel Mail' are closed 15 minutes earlier than the time given below unless otherwise stated, and where mails are advertised to close at or before 9 a.m. registered and When parcel mails are closed at 5 pm on the previous day.

p.m. Registered and· mails are advertised to close atter Parcel mails are closed at 5 pm.

A number of splendid cabaret On and after Mar. 29, the ad-

Items enlivened the annual supper Canton dress of Medical Headquarters, danke of the Kal Tak Civil Apart

Straits. will be "The National City Bank of New York Building, 2, Queen's Road, Central," The telephone. No. of the sub-exchange will be 31128.

at the Peninsula Hotel last night, Formosa among the artistes on the pr. Saigon. gramme being Miss Alison Fisher. Manila, Miss Peggy Scotcher and Miss Pegs Stoneman.

The comedy team of Messrs. Rose, Semmelmann, Gegg and

*For

SATURDAY

Date and Timme

Sat. 23rd

7.18 AM

8.30 AM

Noon

EP.O.

Rog. Noon

Ord.

Noon

O.P.O.

Noon

Ord.

·6.00 PM

San. 24th

Arnold was also in attendance Air Mail for "Imperial - Airways Direct Service”—| Reg.

due. London 31st March and were much enjoyed

The proceeds will be donated to.

British War Organisation

Fund.

That the Directors be and they are hereby authorised to capitalise the sum of $3,000,000.00 Hongkong

A Choral Recital will be given at currency part of the undivided profits of the Company standing the Hop Yat Church tomight by to the credit of the Company's the Joint Choir of Ling Nan Uni- Reserve Fund and to allot to the versity, True Light and Pui Ying

the Middle Schools, with Mr. Fung Hin Members holding shares of the

Part Company as on the 1st day of Tsung as the conductor.

of the programme is selected July, 1940 in respect of the net

fully paid from "Daughters of Jerusalem." amount capitalised shares of the Company of equiva-The recital will commence at 8 lent nominal value in the propor-D, and is open to the public. tion of one share for every two shares of the Company then held by such persons respectively and that such shares so allotted shall rank for dividends as from the 1st day of July, 1940,

That if, on such distribution as aforesaid, any person would be entitled to a fractional share the Directors shall, in Heu of issuing fractional certificates. cause the whose share to be allotted to a person or persons to be named by the Directors and such share shall, at such time as the Direc- tors think fit, be sold and the proceeds distributed amongst the persons entitled to the fractions making up much share.

the resolutions were adopted.

ATTENDANCE

Mr. H. V. Wilkinson, presided and was supported by Mr. T. E Pearce, the Hon. Mr. Stanley H. Dodwell, Mr T. N. Chau, C.BE (Directors) and Mr. V. Borby, MLEE. (Manager).

SUNDAY

Air Mail For Manila, Guam, Honolulu - and U.B.A.,

by the "Pan American Airways Direct Service due 'San Francisco, 30th March Shanghai

Swatow, Amoy and Formosa..

MONDAY

Bayard

K.P.O. Bog. 23rd Noon

Ord. 23rd Noon

G.PO.

Reg. 23rd Noon.

Ori. 24th 7.30 AM

SHROFF FOUND NOT GUILTY Chul Bul-po, head shroff and ticket seller at the Majestic Thea tre was discharged at the Criminal Sessions yesterday when the jury, after a ten-minute retirement Fort found him Not Guilty of uttering Saigon, Ceylon, India, East and South Africa, Egypt

the Majestic and Europe Via Marseilles-due Marseilles, 21st Reg. forged tickets at

April Theatre on Dec. 19, with intent to

Straits. fraud.

ME. EH. Williams, assisted by Haiphong Shareholders were represented Sergeant N. E. Fraser, was for the i.Canton by Messrs. Ko Koon Fan, Gibson prosecution, while accused, was de- Fahnestock, 8. T. Williamson, tended by Hon. Mr. Leo d'Almada,

Straits. L. Ball, Leung Fattin, A. McKellar, Jr., instructed by Mr. D. McCallum, Shanghal Wong Chi Po, Wong King On, L E. Gutterres, G. G. N. Tinson, Wong Ping Bun, B. Wong Tape, Le Kal Wing, Capt. F. L. Brown, OBE Mesra Kwok Hin Warig,

Mr. T B. Pearce seconded and G. G. Wood, w

His Excellency the Governor and Lady Northcote who will proceed to Fanling Lodge for the week-end on Sunday will return on Tues- day.

TUESDAY

Manila, Makassar and Bourabaya, kadın....................

9.00 AM 9.00 AM

Mon. 25th

10.30 AM

GP.O.&EPO.

Ord.

·ILID AW Noon

Noon

5,007

Tue, 26th

8.30 AM-

8.30 AM

Daily Press, Ltd, at Marina House, third floor, 15-19. Queen's. Printed and Published by Henry Lloyd Murrow, for the Hongkong Doad Central, Hongkong. London Office: 88 Fleet Street RCA

1940-03-22 — Page 12

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