1910-04-06 — Page 3

Intimation.

Powell's

ALEXANDRA

BUILDINGS.

NOW SHOWING.

THE HONGKONG TELEGRAPH WEDNESDAY APRIL 6 1010

tions.

AMERICAN CONSULAR SERVICE.

THE VALUE of the HONGKONG DOL

MFANNUAL MEETING,

"ND

LAR as proclaimed by the Director of

The seventh annual general meeting o the United States Mint for three months to shareholders in the abars company was held. American Cult Cart 408 in terms of at Shanghal on stat ut. There were present

Gold Currency, Consular Fees for the quatter to end Juneon, (0. Michalad, H. J. Macray, AK Mesire A. McLeod (chairman), T. W. Wright goth, 19toy will be as follows :

Invoice

Batra Copy of Invoice

Landing Certificate... Bill of Health

· 2.45:

6.15 12:25. Supplemental Bill of Health... 6,15° Hongkong Currency only is accep ed is

payment of feet at this Consulate " General. The Invoice Clerk is forbidden to accept any Chinese Coin whatever or accept Hongkong Fractional Coin in amounts of over Stop at one lime,

:

W. A. RUBLEE, Ambricas Consul General. -Hongkong, 4th April, 1910, 20

HONGKONG JOCKEY CLUB.

NOTICE.

[198

HE HALF-YEARLY MEETING of the

|

Craddock, directors). W. E. Kent, R. Mace Gregor, L. Walker, H. D. Morrison, J. Harrop B. A. Clarke, J. Barrot, J. Prentice, J. H. Osborne, W. 8. Jackaun, T. Meyer, R. Chester, W. J.. Dyer, B. H. Danning, J. Douglas, T. Weir, and H. C. J. Wilson (Secretary,)

Platt

I presume this will require an as a natural result that Company held out for a the Articist of Association?

"af the new ukaras in the present

hairman-Weware advised by

uid implify matiarn if Mr. Mac Gregor would alter the wording of the first part of the resolution vir That Under Art. 97 it to require confiralog, at a subsequent meeting. hereby resolved etc. This rosolation will not

behalf of the directors I may say we Mt ad- mit that & director is a rather large number bat the secret of that is that when the company Wat started it was composed of thres companies and twelve directors from those. three companies were elected directors of the

meeting, the chairman saldi-

diminished to 8 by resignation and net filling Gentlemen, The Report and Accounts for the P vacances when they occurred. I must say there is a great deal of common sense in what your ending 31st December 1909 having been in Mr-MacGregor and that 8 disectors is your hands for some days, presume cumbersome number, and I have no doubt it will follow the bical custom and permit

[Hon'

The other two Companies At The 'doing "vety well" "Tit

dividende, and naturally did bot with to be let

and certainly would not #valtta basis of thel, shan

the Companies at the time were matct at the following approx.

on the

on the

Shanghai Tug Boat Co... Shangbal Cargo Boat Co... 165 Co-operative Cargo Best Co. 165 The reapit was, Gentlemen, that the present Company was formed on a 7%; basis, and thas

Intimations.

AND

AND

HINA LIGHT PANY LIMITED

IN THE MATTER OF THE COMPANIES ORDINANCE NO: 1 OF 1865

par vaine The Icaco, Petition for an Order confirming the Special Resolution herein reducing the Capital of the above-named Company to $300,000 having been heard before the Supreme Court of Hongkong and the Special Resolution baring, been "doly confirmed by GIVEN that the sum of 3 an Capital will be the bald Court. NOTICE IS HEREBY returned and paid on 8th April, 1910, to all Shareholders (standing on the fegister), to all Shareholders (landing on the register) of shariff of the valds of iz back on the 8th day of April 19ta The Register wil ba closed on the 7th day of April toro and the produce their Scrip for endorsement upon 8th day of April, toto. All Shareholders must making application for payment as above.

Dated this 4th day of April, 1910,

After the reading of the notice calling the new company, From 12 the number has been was largely over capitalized. - Aï the time of the shares of the value of to each and bonus

can be arranged that certain of the directors should retire. Tas thing to be taken into

amalgamation the total amount at which the respective fleats of the thres Companies stood on the books of those Companies was 1 84172265. This sum appeared on their Ba- lance Sheets of the 31st December 1991. The present Company started as of the 1st January 1905, and the sum appearing on its books as of

thim to be taken as read. Notwithstand ing the unsatisfactory state of trade day ing the past year, more especially the Im Consideration is that some of the directors that date, representing the value of the fleet port trade, the 'result of the operations of contribute a large proportion of the company's taken over from the three Companies," was the Company for the last twelve months showsiness, and it would be undesirable that T. 1,338,880.04, or an inflation of value of some improvement, of the ant earnings of the hose gentlemen should retire. On the T 495,157,39. This indation of value should previous year, the Cradit Balance of Working of the company that they should remain. Goodwill Account" and if that had been done contrary it is desirable in the interests undoubledly have been put straight away, to a Account transferred to Pro and at bg Therefore, I think, if this resolution is carried there would have bees no occasion for this Tli, 123,31444 us against Tia 112,001,09 in 1908, and bus for the large falling off in the you bad batter leave it to the present director manting to-day. The fact remains, however, quantity of Goods landed, this sum would to arrange amongst themselves as to who shail have been considerably 'augmented, at this as a vote of censors. It is certainly a very retire. I don't think Mr. MacGregor means is this branch of our business which is the more

- unfortunate stata of affairs, but I don't think profitable to the Compsey, The Export busionss on the other hand shows, & largo - incrensa business as I will explain later on,

there bai báon any neglect in the company's in the quantities shipped off, but the expenses 'connected with same are very heavy and the AND margin for profic in excendingly moderate.

A large shipment of the 16th April, 1910, 13.30 P... the Officer of the Jockey Club on the Greand Floor of the Hongkong Club Annexe, Chater Road.

By Order,

the latest

SPRING GOODS

COMPRISING

LACE

AND

MUSLIN

BLOUSES.

COTTON

COSTUMES.

SUNSHADES

TRIMMED

AND

UNTRIMMED

MILLINERY

FLOWERS

AND

FOLIAGE.

SEE

LARGE

WINDOW.

POWELL'S

Alexandra

Buildings.

T. F. HOUGH,

Clerk of the Course, Ilangkong, and April, 1910...

[#05

THE

“HINA. PROVIDENT LOAN

MORTGAGE JO,'LD.'

(Capital Paid Ur ............$1,250,000)

Luana on Mortgage of Hunse Propony, &c. Goods received an Storage... Advancas made no Merchandise. Loans made on the Provident System.

(Razas and Particolars on application),

THE OFFICE, OF TROSTER, EXECUTOR OF WILLS, ATTORNEY,&C., Undertaken and Rxecuted.

SHEWAN, TOMES & Co., General Managers,

Hanphong, roth March, roof,

PABST EXTRACT.

14!

It is a liquid food in predigested form, con- using all the bracing, sanibing and toning effects of the choicest hops. Nearly Non

alcoholic.

fo August last interim dividends of six on the Preference Shares and 2% on the Ordinary Shares were paid, absorbing. Tla. 47,500 and dedacting this amount from the above Balance of Profit and Loss a/c, there now remains for appropriation the sum of Tis, 89,170.43 which

that this was not done, and this error we are as it now stands upon our books as of the now trying to rectify. The value of our flest

SHEWAN, TONES &

General Manager.

FRENCH STORE.

NOTICE.

[297

We beg to inform our numerou customers and the public in general that we have been appointed Agent

December last, is "Tis: 1,772,548.94, and a conservative estimate, perhaps ever-con servative, maken this valuation Tia. 613,948.94 Mr. Osborne- quite agres, with your re too high, or since you have passed our accounts marks that there is no copsare on the board of for the year and written off Tla. 30,000.00 management whatever, but judging from my moro, Tis, 581,948,94 too high, Thia,statė of do not manage to contribute business; that is known to your Directora for some time, and experience, gentlemen on a board sometimes hairs that I have just described has been for the CREME SIMON

the beard or not. If the company is in a posiboan apprised of the situation before this, to say business will come along if they are on perhaps it would have been better if you had all Simon's Produces for Toilet tion to carry on its business in a proper way The only excuse your Directors have is that,

the Directors recommend should be distributed the business-comes-to-the-company-and-al• "Da"learning of this state of affairs, business"

as follows :-

Tis.

י.

To pay a dual Dividend of 31% on

10,000 Preference Saates...... 17,500,00 To pay Gnal Dividend of 3% on

20,000 Ordinary Sharas............ 30,000.00 To wille off for Depreciation To carry forward to New nje

30,000.00 11,670.43 During the year the entire fleet has been kept in excellent condition, the Tugn, Launches nad Lighters have been docked and painted whoa" necessary,"and"all"repairs"executed” as THE best TONIC for keeping in perfect required, the whole cost of some being charged

health is the Tropics.

to working accoudt. At the suggestion of sont of our Constituents a Branch of the Company was started at flankow as an experiment, and although the competition met with was very keen, the result has not been unsatisfactory, a small credit balance, and above all expenses, being earned; the directors propose to conticos the business for another year and as our prins cipal opponents have retired from the fald, it i hoped a far better showing will be made for this period. During the year an addition of to Steel Lighters of bo Tons each have been built and have proved very useful in carrying on the Company's work." I think ship is all i have to say with reference to the Report and Accounts, bat before putting a revolution to you that they be accepted and passed I shall be pleased to Answer any questions Shareholders may desire [40 to ask,

Highly recommended by the local medical profession in cases of Debility after Malaria, from overwork or other causes, Aomis, Narvousness or Dyspepsia. Samples on application,

ALSO JUST RECEIVED—

FABST (American) BEER, in barrels of 120 bottles lo view of the arrival of the American Best ip a few days, please order early, at our stock is limited.

SIEMSSEN & CO,

Agents.

Hongkong. 13th December, 1999,

THE DRAGON

CYCLE DEPOT

WILL REMOVE FROM

Nos. 33 & 35

то

No 63 DES VIEUX No

RD. CENTRAL,

NEXT DOOR TO COSMO-

POLITAN HOTEL,

NEAR VICTORIA, CINEMA,

On or before the

16th March,

No questions were asked,

"though it is advisable to have good men on the board who can possibly influence I don't think they will do very much in that way...

The resolution having been seconded by Mr. Walker was carried, the Chairman stating that of course the directors were not voting on this question.

Mr. MacGregor-The next resolution I have to propose it: "That nader Art, 97 it is hereby resolved that until ulherwise determined, the remuneration of the directors shall to Tia foo each per annum. I am sure that when the company is in a more flourishing state wawili be able to increase the remuneration, but i think we have had to cut our cloth and 1 think you should also.

was showing signs of improvement and it was hoped that large amounts might be written off overy year out of profits. In this as you know we have been disappointed, business during the last three years having been unprecedently bad, and now the time has come when the

situation must be faced, and in our opinion by

far the wisest coursado pursue is to reduce our capital as auggested and put the Company in a sound position. We would like it nederstood, Gentlemen, that the difference, between the actual and book valas of your fleet has been in No way due to negligence or mismanagement

of your property. I think you will agree witb this statement when I tell you that, on this last valuation of the deat, Tis. 1,158,630.00, we bare, Mr. Osborne-1 propose an amendment daring the last seven, years, paid over 11% in that the resinaeration of the directors abat: divided, and during the same time our be the yearly sum of Tis, 4,500, divided among dividends on your ordinary shares bara svörag- them in proportion to their respective attended, including this last year 1909, 7,8%, and of koces at board meetings during the year, or

course the regalar 7% has always been paid | otherwise as the board may determine from on the Preference Shares. The total of divi- time to time," I have had some experience in and paid during that time come to Tis. 795,000.00. Besides this we have spent there things and I need scarcely point out that thösa gentleman who: attend to their duties

since the formation of the Company Tis. should be paid for it. That is the prime molive 354,648.00 in repairs and upkeep, or an of my suggesting this amendment.

average of over Tis. 50,000.00 per year, and have written off for depreciation in direct and indirect ways, roughly Tis. 200,000.00. This raduction of our Capital will in no way affect the earning power of the Company and should not affect the market value of your shares, for it should make little differesca whether pae has

* Mr. MacGregor agreed to accept the amend- maot as a substantive proposition, and Mr. Osborne having seconded; the motion was carried.

This concluded the business to the annual meeting, and an extraordinary, meeting was then held to consider the following resolution :

The report and accounts ware then adopted da the proposition of the Chairman seconded: "That the capital of the Company be re- Mr. Michelay,

The Chairming the proposed, that the dirar. tors be authorised to appropriate the bunt at their disposal viz. Tia. 89.170.43 mu follows:- Tir.

2

|

a Tis. 50,00 share on a 7 X basis, or a Tis, 25.00 thato on a 14”%; basis: and we hope to pay this latter dividend this year...

Before proposing the resolution 1 will be glad to answer any questions to the best of my

duced from Shanghai: Tis, 1,500,000 (divided into 10,000 preference shares of Tl, go each Shanghai Tis., 1,000,000 (divided into 10,000 and 20,000 ordinary shares of. Tis, 50 each), to | ability,

Mr. Macray seconded the resolution, add no prefersace shares of Tli, 50 each and 20,000 questions being asked, it was put to the meet- ordinary share of Ti5 nach and that suching and carried. induction bo effacred by cancelling paid up capital which has been lost or is unrepresented byavailable assets to the extent of Ti as 30,000.00 per share on each of the ordinary stares and ... 30,000.00 by reducing the cominal amount of the ordin 11,675.43 dry shares from Tis..50 to Tis.'ag each,"

Tas final Dividend of 31% on 10,000

Preferenca Shata.............................. 17,500.00 To a Final Dividend of 3% on 20,000

Oidinary Shares.....rak

To write off for Depreciation To carry forward.....

Mr. Such seconded,

11. 89,170.43

Mr. Prentice-Supposing the resolution ra ducing the capital is carried. Why should wo write of Tis, 30,000 for depreciation ?

The Chairman-i wlik explain later, at the extraordinary, mesting.

The resolution was then adopted.

Mr. Buyers proposed and Mr. Meyer seconded the re-election of Messrs. Micholau and Manchas as directora. ~

Mr. Osborne--If we are going to re-organise the company and not have more than five directors? It seems to me a very fanny Arrangement...

i..

*

Mr. Prentice-May⋅ 1 ask how many sharka ára represented at this macting? -

My. Whenlock-There is a quosum, Mr. Prentice-But we must know how many shares are represented..

After a pause the Chairman announced that 6,479 shares were represented.

Speaking on the resolution, the Chairman wald:-"

The mesting then terminated,

Notice of Firm.

NOTICE.

(OTICE IS HEREBY GIVEN ́that the

N° partnership beretofore subsisting ba

tween as the undersigued carrying on business as SHARE and GENERAL BROKERS at 'No. 5 Queen's 'Road Central, Victoria, undeř the style or firm of "VERNON & SMYTH"

has been DISSOLVED and the interest and.

responsibility of the undersigund JOHN YARDLEY VERNON VERNON in the said firm bar CEASED as: frými tko gist March; 1910

Chapte

Requisites, Parfumery, Soap, etc.

and

Powder,

INSPECTION SOLICITED. drbrknów zin jabuary, 1910.

F.

BLACKHEAD & Co., SHIP-CHANDLERS, SAIÌMAÉÈRS COAL AND PROVISION MIER CHANTS, NAVAL "CONTRACTORS

AND GENERAL COMMISSON

L AGENTS, GROUND FLOOR, ST. GEORGE'S BUILDING, HONGKONG, SOAP AND SODA MANUFACTURERS,

SOLE AGENTS FOR..

ARTMANN'S RAHTIEN'S GENUINE 11 COMPOSITION, RED HAND BRAND, HARTMANN'S GREY PAINT DAIMLER'S, PATENT MOTOR LAUNCHES,

kod ko; Sela AganisTM for FERGUSON'S SPECIAL ORKAM and P&D, SPECIAL LIQUER BOOTCH WHISKY, &C.

EVERY KIND OF .. SHIP'S STORES AND REQUISITES ALWAYS IN STOCK IT 'REASONABLE PRICES. #omrknes, 4th Marsh, cons

GREEN ISLAND CEMENT COMPANY, LIMITED.

PORTLAND CEMENT.

"Id" Carri of-375-lbs. net 35,50 per Cask

ex Factory....... In Bags of age be not $8,45 per Bag

ex Factory “SHEWAN-TOMESƑ& GO,

General Managers. Hongkong, seih August, 1903,

MOHIDEEN & CO.

| All-Debts das to and owing by the late firm of Vernon & Smyth will be received and paid respectively, by the endereigeed - FRANK SMYTH who will conilane to carry on the FINEST ASSORTED sald business sader the style or firm of

Vernon & Smyth.”:/

Dated the 1st day of April, 1910.

(5d.) J. Y. V. VERNON, (54) F. SMYTH, Bar (293

Bentistry.

Dr. M. H. CHAUN, DENTAL SURGEON,"

Gentlemen:-As you are aware this meeting has been called for the purpose of passing, if you see fit, a resolution that has already been In your bands for some time, namely, to reduce the Capital of this Company from TIL $500,000.00 19 TIE, 1,000,000.00, and in order to effect this reduction, to change the no. minal value of the ordinary shares from Tis. The Chairman-The other resolution has 30.00 to Tim 25.00 each. This may be con not been passed. It is customary at an annual sidered a very drastic step to take, but in matting to re-elect directors, and if the re-reality it is little more than a book entry solution to be proposed later is carried it will to all intents and purposes and the reasons remain for the directors to decide who shell for taking this stop are as follows: The pre- retiru

sent Company was formed as of the tat - Jann- The motion was then carried, and Messrs. dry, 1903, and is composed of three other Com Lows, Bingham and Matthews were xo-ojected | gaules: The Shaogha! Cargo Boat Co., the auditors on the proposition of Mr. B. A. Clarke | Co-operativa Cargo Boat Co. of Bhanghai mod seconded by Mr. Morrison,

the Shanghai Tog: Boat Co. For some time Mr, MacGregor-I riso with a certala amount | previous to the formation of the present: Com- of diffidence to propose a resolution which 1 pany the two former Companies mentioned havo sant in, but I feel it is simply aboard that above were working under a Pool Agreement, From the University of Pennsylvania, wa'should hava eight directors, drawing very high = 'But the Tag: Boat Company was on its own remuneration, in fact there is no other Company. ¿ccount, "Dating 1901 a telegram, was received here that has got anything like the number from Home, making a firm offer, la caub, for of directors, and aur, interests are practically the Tug Boat Company, which at that tims similar. Therefore, I more "That andar Artis | qas paying over 21 % per annum in divide cia 97 it is haraby resolved, that, until otherwise | ends,. To the other two Companies it sesmed determined, the number of directors shall be a great pity that a Shanghai Company should not less than five nor mpen than twelve and pass into the hands,-of foreign. Intarente,'apait that the qualification of every Director shall from the fact that opposition, would be sUTO Be the holding in b's own algkhor, If ba partner, la a firm, his drm holding, or Als Erm together heldi

to spring up was then that the iden was Conceived of smal

„panlar,lato" oon, the pros

Tur Bost Com

· 33, QUEEN'S ROAD CENTRAL, ÍST FLOOR, ROOMS 1 and 1.

Telephane 126; Hongkong, arth January, rgro,

TSIN TING

FEST METHODS OF DENTISTRY;

GRUBIO AT NO 13, D'AQUILAH STREI

COLLECTION

OF

CEYLON

JEWELLERY

AND

GEMS

of all kinds in stook-

Gold Guaranteed.

2B, D'AGUILAR STR.

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