1940-04-04 — Page 5

HONGKONG DAILY PRESS

CEMENT COMPANY WORK FOR YEAR REVIEWED

Mr. J. H. Taggart Is Made Managing Director

Addressing shareholders, from the chair, at the annual meeting of the Green Island Cement Co., Ltd. yesterday. Mr. J. Scott Hars ton reviewed a very satisfactory years' work and in announcing the appointment of Mr. J. H. Taggart a Managing Director of the . Company, said he wished to pat on record the Board's appreciation

for the unitiring work put in by Mr. Tazzar

The chairman said that Mr. Tax- gart, by his financial acumen and business instinct, had saved the Company from the disaster of liquidation which threatened in 1934.

Reference was also made by the chairman to the deaths of Messrs. M. A. Figueiredo and O. M. dos 8. Oliveira, two former members of the staff of the Company.

from the profits of the year under review.

DEPRECIATION OF ASSETS The effect of the proposed ad- Justment of the Reserves is to re- duce the nett book value of the

Plant, Machinery and Floating Craft 'to $642,934.36, which your Board think may be regarded as an exceedingly conservative Egure, when compared with the original capital investment, and THOSE PRESENT

the residual te values of the re- Supporting Mr. Harston at the lative asseta Whilst on this sub- meeting were the Hon. Mr. T. B

Ject I would add that, in view of "Pearce, the Hon. Mr. A. L. Shields, the materially improved financial Mr. Li Tse Fong (directors) Mposition of the Company. your J. R. Taggart (Managing diree Board contemplates that in future tor) and R. Taylor (acting secre- depreciation of these particular tary.

Assets shall again form an annual charge on profits.

Shareholders present included Messra. N. V. A Croucher, 8. 8. Harris, Ho Kal-lam, P. S. Suckling.

RAW MATERIAL STOCKS B Wong Tape, C.-N. Kong, J. T.

It will be observed from the Bagram, Mok Yu-yan Lo Yuk-flure of $1,454,657.09, at credit of tong. Lo Kai-wing. Wong Man- the heading relating thereto, that ching. Lau Shih-cheun, Too Sun- substantial increase during the year has been effected in the ko and F. E. Silva

stocks of raw material on hand at

CHAIRMAN'S SPEECH

.

your Hok Un Works. This is In Addressing the meeting the conformity with the policy of your chairman said:-

"It will be observed that the balance brought in from working Account amounted to $637,224.14, as against a figure of $404.135.64

under the similar beading for the preceding year, thus recording an increase of $233,388,50.

Board to maintain supplies at a volume capable of meeting any emergency which may arise.

BONUS FOR STAFF

R

In expressing profound, appre- clation of the unfailing devotion of your Manager, Mr. Taylor, and hat's Staff to the interests of the "This year provision has been Company, I feel confident that made covering depreciation to the Shareholders will endorse" the pro- extent of $76,45400 in regard to posal of your Board to implement amortization of the Plant, Mac-such

expression in practical chinery and Floating Craft-this manner by voting to the Staff a being the first occasion whereon Bonus of 15 per reintroduction of this Debit item salaries for the year under review. cent on their

has appeared in the Accounts since

Before closing, I wish to refer to the drastic writing down' effected another important matter in con- in the reorganization of the nection with the conduct of your ances of the Company undertaken Company's business, namely, the In 1934, when, as you will doubtless fact that your Board recently ap- recollect. the relative Capital Assets painted Mr. Taggart to the post were written down by some $3.- or Managing Director of the Com- pany-an appointment which your Board consider not only necessary, also highly desirable from

000.000.

"After debiting recurring charge. together with a donation but of $2,000 to the British War Ur-every point of view. ganization Fund, the balance cai-

"

As most, if not all, of the Com- are "aware,

ried to the credit of Proât and pany's Shareholders L059 Appropriation Account Mr. Taggart has during the past amounts to $551,116.10, as against ten years taken very considerable $404.615.82 for the previous finan- interest in the welfare of the cial period, and, taken in conjunc. Company, and has, in fact, been tion with the sum of $124,778.22, responsible, more than any other brought forward from the previous Director, for the conduct of lis gear, makes avalable for appro- affairs He also may, I think, be priation a total of 307,894.32.

accorded the credit of having. by The Board recommends the pay-his financial acumen and business ment of a dividend of $1 per share instinct, saved the Company 'from on 195,494 shares, a Bonus of $0.5

the disaster of liquidation with per share on 195.494 shares, the which it was imminently threa- transfer to General Reserve AC

tened in 1934. equnt of $150,000.00 bringing same up to $1 000,000, the payment of Bonus to the Staff of $17,397,0V, and to carry forward to the an ancial year 1940, the balance atm of $166,382.32.

IMPROVED FIGURES

|

Chinese Art Exhibition

An exhibition of ancient Chinese, Art will be held today at the Fung Ping Shan Library of the Houg- kong University under the aus- pices of the Association for the Advancement of Chinese Culture, the Chinese-American Institute of Cultural Relations and the Sino- British Cultural Association.

This is the third of a series of Chinese Art Exhibitions presented by these Associations,

The paintings which are in the collection of Mr. Fung Yu-chien include works dating as far back as Tang, and among the masters Included are Wen Tung (Sung),¦ Fan K'uan (Sung), Wang Mien (Yuan), Ma Wan (Yuan), Wang Meng (Yuan), Shen Chou (Yuan), Wen Ching-ming (Yuan) and the following Ch'ing masters. Wang Hui, Wu Li, Yun Nan-tien. Huang Hstang-chin, Monk Tao Chi, Wang' Wu. Ma Yuan-yeh, Hsiao Yun- chung. Hua Yen, Chen Shu. Tal Hsi. Ch'ien Tung, Wang Chien and Trou I-kuel.

*

EMBROIDERY DESIGN Of special interest are two items, viz. a Bung embroidery design after the painting "Ko-Feng-Kung" by LI Chao-tao (Tang), and a series of paintings by Tsou T-ket de- picting Emperor Kao Tsung's (the well-known Ch'ing Emperor Ch'len Lung) six visits to the South.

GENERAL

NO PROOF OF GUILTY KNOWLEDGE

Arrained before the Chief Jus- tice, Sir Atholl MacOregor, at the Criminal Sessions yesterday charg- ed with uttering and possession of a forged $5 banknote, Li Tung, un- employed, was found Not Guilty and was discharged..

On Feb. 3 the defendant went

to the Yu Shing shop to purchase a cuspidor and tendered a 35 note. On examination the note was found to be a forgery and the shop master arrested him.

A

Li was discharged because there Was insumcient evidence to prove ulty knowledge. There was no evidence to show that he had made any attempt to run away.

Weekly Toll Of

The Road

The weekly return of traffic ac- cidents, issued. by "Police Head- quarters, states:-

In the Colony of Hongkong in- cluding the Island, Kowloon and New Territories during the week ending at 8 am, on Saturday, Mar. 30, 1940, there were altogether 75 traffic accidents as the result of which 1 person was killed and 27 persons were injured,

ANOTHER EXHIBITION

The person killed. A Chinese Another exhibition of Chinese male, age 67, was knocked down Paintings will be held tomorrow at and killed by a taxicab while cross- the Kam Ling Restaurant. It willing the carriageway. comprise the work of Mr. Kwan Of persons injured, 13 were San Fuet, an accomplished pupil pedestrians, who were crossing the of Mr. Kao Chien-fu. Mr. Kwan carriageway and were struck by

vehicles. paints figure subjects as well as landscape, and is a painter who definitely belongs to the modern school working from "models and sketching from nature.

until Sunday, April 7, daily from The exhibition will be continued

10 am. to 10 p.m.

R.E.O.C.A. DANCE ON SATURDAY At an extraordinary general held in Wellington Baracks, with meeting, of the R. E. O. C. A,

Lt. Col. R. G. Lamb R. E in the

R.E, and S. 'M. W. Lock. R.E. chair, Captain A.C. Houghton,

the vacancies were unanimously elected to "A}]

and

of Chairman Secretary. respectively, "of the Entertainment Committee." The next dance will be held at the Peninsula Hotel on Saturday, April 6, from 8.30 p.m. till 1 a.m. The music will be provided by the dance band of the 2nd Br. The Royal Scots. (By kind per- gall M.C. dag officers). mission of Lt. Col. D. J. McDou-

In addition to spot and novelty given by David Kossick, prizes, there will be cabaret items

perry, Ernie Fowler and Dick Ernest

Labrum.

Admission (the right of which is strictly reserved by the Com- mittee) will be Ladies $1.50; Gen- tlemen $2 (members under the rank of Sergeant $1:50).

Two bicycle riders were injured as the result of collisions between vehicles.

Four lorry passengers were in-

lorry. jured on falling from a moving

Five bus passengers and three tram passengers5 were injured while alighting from moving buses and moving trams respectively.

Of 75 accidents, 36 were colli: alons between vehicles; 20 were collisions between vehicles and

to other causes. pedestrians: 19 accidents were due

FATAL MISHAP

SEQUEL

A sequel" to a traffic accident on Monday, when a shop assistant was killed. resulted in the ap- pearance of L1 Kan, 23, before Mr. H. G. Sheldon at the Central Court yesterday charged with driving without due. care and caution.

Li was driving a motorcycic combination in Tai Hang Road and was carrying the deceased in the sidecar. It was alleged that

high speed and the vehicle, went the defendant was driving at

off the road when coming near the Haw Par Mansion.

A fine of $20 was imposed.

FALSE

NAME IN HOTEL REGISTER

Charles Percival Archer, resid-

Tables can be reserved. at the hotel, Tel. 58081 or from the Se cretary. Tel. 34121, Extn: 243.

The dance scheduled for Apriling at the Tungshan Hotel, Con- 20 is unavoidably postponed to a

naught Road West, appeared be- later date.

fore Mr. E G. Sheldon at the Central Court yesterday charged with giving false information an December 8 by entering a false name, Jimmy Murphy, in the 'bo- tel register.

APPRECIATION RECORDED The whole of the foregoing has been undertaken by Mr. Taggart voluntarily and without any re- muneration other than that re- celved by himm as an ordinary Director of the Company-which Continuing, the chairman said latter position the Board propose, AUXILIARY NURSING In part:-Turning to the Balance as a matter of common equity, to Sheet, on the Assets side. I would rectify very shortly.

SERVICE RALLY : direct your attention to the Items In recording these facts I desire H.E. the Governor, Sir Geoffry Stocks in hand, standing at $1.454- to express on behalf of the Board Northcote, K.C.MG has

kindly 657.00-which figure, when taken and myself, and also-as I consi- consented to attend a Rally of in conjunction with those of Budder I may fairly do on behalf of the Auxiliary Nursing Service at dry Debtors $189,308.29, Invest-the Shareholders, our deep appre- the China Fleet, Club, on Monday, ments as at market value on Dec. ctation of all that Mr. Taggart has April 15, at 6.30 p.m. Doors open 31. 1939. $319,416, together with has done in the above regard.

at 5,30 pm and members should cash in hand and at credit of Cu

be seated not later than 8.15. rent Account $89,290.29. makes a total of $2.062.870.67.

Tali last Mr. Scott Harston said that be mentioned figure, less that of Bu desired to record on behalf of the dry Creditors on the Contra side Board an expression of deep re of the Balance Sheet, amounting gret at the recent passing or two to $226,965.38, represents an excess of the oldest and most respected in current assets of $1,835,905.20 members of the Company's staff. over Liabilities, or an improvement who retired on pension during the of $359.550.35 over the resultant years 1936 and 1939. figure covering similar headings for the previous year,

MILLION DOLLAR RESERVE

FORMER EMPLOYEES PASS AWAY

The chairman reterred, to MI Manuel Augusto Figueiredo, who

The meeting will be followed by

a distribution of First Aid and Home Nursing certificates,

He pleaded guilty and was fined

$50.

Bgt. J. Hill, of the Special Branch, sald Archer had lived in the Hotel for three months before. the offence was committed.

ASKED TO LEAVE COLONY

A Canadian student, Joseph Home Nursing lectures are Renee Alexander Turcotte, azed being given at the Royal Naval 33, religious student, was fined Hospital on Mondays at 5.30 pm $100 at Kowloon Court yesterday First Aid lectures are in progress by Mr. E Himsworth when he at the Helena May Institute on pleaded guilty, through his soli Fridays at 6.30 p.m.

| eltor," Mr. J. M. D'Almada · Re-. medios, to a charge of Indecent assault in the Trocadero Hotel on Mar. 22 last,

CHINA joined the service of the Company

It will be noticed that whereas on January 1, 1908 and retired on the General Reserve stood at *September 30 1939, after a figure of $1,150,000 in the last thirty-two years loyal service, and .published Accounts, your Board the late Mr. Oscar Mirandolinao

DISTRESS RELIEF FUND

decided to inaugurate a Depreciados Santos Oliveira. who entered Distress in Chins, H. K. and South he would leave the Colony.

tion Reserve by transferring the 'the Company's service on July 1, sum of $300,000 from the General 1899. in the capacity of Chief Reserve to the credit of the De-Clerk at the Hok Un Works, and preciation Reserve so inauzurated. after thirty-eight years falthful thus reducing the General Reserve service, retired on Denston, on Dec. "to $850,000, Your Board further. 31. 1938

decided to augment the Deprecia- The adoption of the report and tion Reserve by allotting thereto accounts was duly seconded and from the Profit and Loss Account carried after which the appoirit- for the year 1939, a sum of $76-ment of Mr. A. Morse as a direc- 454-which Reserve, therefore, now tor, was confirmed. Mr. J. & Scott stands th the accounts at $376,454 Harstor and the Hon. Mr. A. L should the appropriations submit- Shields, retiring directors were re- ted for your consideration be rath elected to the Board. ned. General Reserve will stand at *Messrs Lowe. Bingham and figure of $1,000,000-owing to Matthews and Messrs Linstead the addition of the sum of $150,- | and Davis, were re-appointed au 100.00. allocated to that Account ditors.

In imposing the fine, the Magis- trate -askd Turcotte if he was pre- The Board of Administrators of the British Fund for Relief of pared to give an undertaking that Defendant said he was ready to China Branch, acknowledges with grateful thanks a donation of leave. Det.-Bub-Insp. R. Cunning- $81,250 from the Hongkong Jockey nam prosecuted, Club being contribution as a result of the Sweep held by the Club on the Hongkong Derby, 1940.

JI

The Board has made the follow- ing grant to the Foreign Auxiliary to the National Red Cross Society of China:-

For Quinine for South Chins, $10,000.00.

The inaugural supper dance of the Chinese "Australasian Associa tion will be held at the Hongkong Hotel Roof Garden on Saturday, April 20, at 6.30 p.m.

ARRIVALS BY AIR FRANCE The weekly Air France plane ville d'Karachi arrived at Kai Tak via Indo-China, with 65.285 kilos yesterday afternoon from France,

of mat for Hongkong 3.508, kilos for China, and the following pas- sengers:--

...

Mr. Andrius, Mr. Busfeld, of the A.P.C. Mr. P. Blumenfeld, Mr. Bartin, Mrs. Lane, Mr. Barno and Mr. Berrurier and four Chinese,

FINEST

THURSDAY, APRIL 4, 1940. —PAGE 5

QUALITY MEATS!!!

"FARM FED" PORK

• LOINS..

80c. per lb.

LEGS (whole or half). 70c. per lb. BELLY (freak).. ROLLED SHOULDER

(boneless)

55c. per lb.

$1.10 per b

per

AUSTRALIAN

TOPSIDE SIRLOIN RAST

RUMP STEAK

FILLET STEAK

AUSTRALIAN

LEGS (3-4 lbs 1.

SHOULDER

(2)-4 lbs.).

LOINS.

CHOPS

PORK SAUSAGES $1.00 lb. PARIS SAUSAGES $1.20 per lb.

PROVISION DEPARTMENT

LANE - CRAWFORD. LTD.

The House of Quality & Service

CATCH

BEEF

65c. per ib. 65c. parth.

75c. *per lb. ..$1.30 per lh.

LAMB

70c, per lb.

50c, per lb.

90c. per lb.

$1.00 per lb

LEGS OF

MUTTON

C.

50 PER LB..

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