1913-10-25 — Page 7

COMPANY MEETING.

THE HONGKONG TELEGRAPH, SATURDAY, OCTOBER 25,- 1913.

will be spared to kill this liable even for dividan 'a paid out resolution and to 'ave the out-of Capital, provided that he bas (Continued from Page, 4),

standing Capital which the done his duty to the sharaboldera Company has no profitabla ura, in setting out properly in the If any member desires to ad- called up. It is all the result of brlouce, sheet, and profit and loes drea the ting I shall be speculation, gentlemen, nothing acconet, full information with "obliged if he will kindly do so it is wrong in principle, it regard to the true fancial poai before I formally propose the re- solution.

that?

DAIRY FARM NEWS..

FRESH

MILK

No careful mother can afford to use any but Pure Fresh Cow's Milk,

cents saved in using Tinned or other preserved milk

Baby's health is of greater moment than the few

le not and basin Ium of tion." This advice or Au posed to it now and forever yes ditna do not-eser to have Mr Maitland-I beg to secoud too will profit by the suocery of acted upon. Mr Grist says: He the resolution to make it in order. the clients of Mr Grist, for I does not think it competent 10 Mr. Grist-Don't you propose paid issue. Yet I am opposed to holders to deprive the smaller hold 484 of the original partly the larger motion of the share- The Chairman-I will form the scheme as it is wrong in Festion of their lights to the ad- ally propora it if you wish it principle and a bad business vantage of the larger rotion." gentlemen. I propose the resolu- transsction. You gentle nen who When the bargain was made and tion which I have just read. are opposed to the passing of this Dr J. W. Noble said I should resolution, do not really want or like to say a few words, Mr Chair-expect the same dividend on the mdan. At the previous meeting, partly paid, as on the fully paid holdings. There did not exist a tains no preservatives of any kind and so to-day, Mr. Grist said shares. But you do mean to larger and a smaller section-it

the new shares sold, ther ware old pro rats to the old sharehol- dere,, according to their then

計

The Dairy Farm Milk is Pure and Fresh and con-

lock this, or any measure she was one section, not two. Surely Dairy Farm gard may bring forward to one cannot take advantage of alter the Artioles, 187

as one sealf. Mr Grist refers to both

Milk

means

To-day's Advertisements. HARMSTON'S CIRCUS

AND

ROYAL MENAGERIE

Performing Wild Animals.

LOCATION CAUSEWAY BAY. GRAND OPENING NIGHT.

"in bringing forward this resolu- tion we have entirely forgotten or lost sight of the fact that the Company is trading, at any rate 10 compel them to call up class of shareholders whereas Good, Clean & Wholesome Milk in part, on the oredit of its uncall- this Capital to suit your but ore close existed, thi,ol-ga) ed Capital." This, I think, will speculative suds. This is not a exiged, this clars agreed amongst not bear examination. What mater for the shareholders but themselves what should be done. trading is done on the strength of one for the Board to decide; the and it we done. I must say 1 this uncalled Capital? We have two tactics of the opposition is to did regret to E38 one of the Com- classes of creditors. The Bank. to blisk everything they can, except pany's Auditors, who had but whom we owe $50,416. The De their favourite measure. They recently purchased shares in beature holders who have contri- can only block such measure as the Company, voting against buted $750,000 for us to trade require a 3/4 mejority (a simple a

perfectly right and apon. How many who have pur- mrjority we can always manage) proper alteration to the Company's hased these debentures, had know as they own and control through Articles, ha alteration which Jedge of the fact, that there was un-nominees, only about 6 000 shares emanated from, and was suggest called Capital outstanding? I ven. (though they claim 8,000, a mais ed by, bimself. After what has ture to state, that if the purchasers calculation on their part, I think) since transpired and the reference had this knowledge not one of out of 20,000. I alone, at this made in the public "Press" I them as influenced thereby moment with my own holdings fehl bound to state by way of What does this amount to? and through proxies representover explanation, that at noon in Oct. 6,000 shares whilst my en-director 4th as we were about 15 enter $200,000 only. This is not rey good security for 8750,000. Mr Maitland controls CCJ more, this room the Auditor remarked in their Marvellous and Astounding Trampoline Acrobatic Acts. the Capital of the Company should and there is remesented bere in to me, that he was coming to yo now be reduced by the enneal this room. I eminate over 10,000 against the resolution. I replied lation of this $20,000 outet nihajes all of which will voted that it was his own measure. ing, would the holders of these in favour of, and to uphold the He then said: You have not debentures lie awake nights height. There will be 6,000 done all that I tuggested, cause of it?--I wander. The "gainst.

I asked, in what reapset? Becntity on which the debenture To bail this matter down Ue said: you have not made it holders rely, if they are, practical there are in the opposition retrospective. Acting on this business men is the value of the only two large, hareholders; hint I immediately reported the Company's prop.rty, not the 000 is now preseni, At the conversation to my co-directors

. am

aware,

who

The

SATURDAY, NOVEMBER 1ST. AT 9.15 P.M.

Harmiton Circus have much pleasuén in presenting to ibe Public of Hoogkrag for the First

Time, the towing all St Company of London and Continenta: Artiste

30 IN NUMBER 30 Acknowledged by Press and Public Le

e the Finest Cizur Touring the East, HEADED BY

THE COTTRELL TROUPE (5 in Number).

Double Triple and Twisting Somersaults to Shoulders, A Mere Detail.

THE GAIETY CIRLS,

Direct from the Crystal Palace, London.

Where for a consecutive weeks their superior tencing, Cruce und Branty won for them the ustion d praise and admiration of a critical public. THE DELROYS

THE DELROYS Most up-to-date JUGGLING Act in the World. Also that Excruciatingly Funny Quartette. SHADOW. MICKEY LITTLE BROWNIE and ROCOCO. CAST and VORTEX: Champion Trick Cyclists, AMBROSIA: Celebrated Clowns, Acrobats and Gymnasts. The King of Roman Ring Performers. T. RICHARDS: Anima Tamer with His Performing Lions, MASTER C. BRUCE: The Midget Wonder & The Well- known Champion all round Duo

"Miss JENNIE & W. HARMSTON.

Our Beautiful Arab Stallions and Performing Ponies Our Menagerie Consists of Performing ELEPHANTS, LIONS, TIGERS, BEARS, LEOPARDS, EMU. BABOONS, MONKEYS, DOGS, Eic. And Our Waternroof Tents, which unlike others. We Have & will Guarantee to keep everybody absolutely dry. N.B.-Special Trams will to and from C.rcus Before and After each Performance. BOOKING AT ROBINSON PIANO CO. MAT NEES EVERY WED., & SAT., AFTERNOON.. Doors Open at 3 o'clock, ..." Performance at 4 Sharp. Children Half Price to Matinees Only, PRICES OF ADMISSION

.

$2.00

1.00

Capital catstanding on a few past meeting held in the 4th. inst. and in the few moments that re ly paid shares, bai on subatantial both were present. In order to mined before the meating open- Basets, real estate and buildings. forestall such andition of af-ed, ac amendment was framed in valued a few months ago by fairs as we are now confronted an endeavour to meet and remedy Messra Palmer and Turner on a with, our Articles provide that no what our auditor considered a conservative basis at $2,314,215. shareholder shall hold none than defrot in the resolution as drafted You may add to this if you will, 10 per cent. of the Company's This we did, notwithstanding the the earning power of the Hotel as Capital-this is futilo on there is fast that we did not agree with going concern and the good no law to prevent shares Ling him on the int, then or now, and will of the business, furniture, registered in the names of nomi- were estisfied we were well ad- machinery and plaat These arent es whose proxies may Linken vised in respt thereto. the things which give us eredit or who will vote se directed; for Board made a tota fide effort to and on this we trade. Will Mr this wo now seller. There are meet his objection and still he Griet on behalf of his clients, three ahurelioidere only, eo far voted against it! agree to the cancellation of this ue. I outstanding Capital? If he would insist on this Capital Laing like to have a practical test called "up... I am eay to see made, as to the value of that only one is present; two are this unpaid call as a credit absent from the Colony. One of feature in the Company's basithe absent ones is one of our ness, it might be taken into con Auditors, and he cast his vote sideration and the Court applied against the passing of the l to for the power to reduce the solution on the ith inst. Capital by $200,000 the amount Grist has told us that an attempt should be passed. The accounts outstanding. Do not misunder- is now Laing made to deprive the for the "Half Year" bave been stand me. I am not advocating new shareholders of their right ready for presentation to abare- that this be done, but if Mr. 10 receive thin 8/20 which, they holders for weke past. They have Grist's clients consider it a bard bave purchased." The bargain been held back panding the pas ship to carry this liability or that was with the old shareholders wing of this Resolution. If the they should be paid compensation who purchased 60 new shares, Resolution is not pred the ao- for the credit it confers, the and paid up $25 on each share.

cavate, will La hold back for matter will at his requeat, beSince that time they have received seriously considered, not other-in dividende. 12 as much, on wise. I refer to Mr. Grist's each new share as they rceived "olienta" as he had been a on each old one. When they shareholder at the time he made made the bargain they knew this his address-for 8 days only, so would be the case so long as the holders at that he himself could not have new shares were orly partly derending upon receiving his LATEST PATTERN ARE NOW TO BE HAD suffered greatly. Mr. Glist ($25) paid up. Therefore they dividend which may form an further; There is another and have not beau deceived by the important part of their income. perhaps a stronger reason why Company, they got nothing more. All this is brought ab at by cre this resolation should not be they expected nothing more, or two deteto ued shereholders

A few months ago I effeied my eat on the Board. to one of the large shareholders in the opposi

in. He red it which 1 re- Full box 6 seats...$15.00 Chairs gretted as I wouli at that time Single seat box............. 3.00 Stalls..... willingly have retired in favour Gallery (Natives only) 50 cents. Sold ers & Sailors in uniform of any one se-king trouble.

Half Price to the $1 and $2 Seats. N.B-Our Menagerie is opened daily for a small charge. The Directors are exceedingly W. HARMSTON, Proprietor. R. ALTON & W. SYMONS, Agents. Mr.REX OU

that this Resolution

A

·

M

*ERICSSON "

MACKINTOSH

& CO, LTD

MEN'S WEAR SPECIALISTS.

THE LATEST

IN

SOFT DOUBLE COLLARS.

Summit 68

SAMPLE COLLAR 40 CTS.

$4.50 PER DOZEN.

MACKINTOSH & CO., LTD. 16, DES VOEUX ROAD.

WM.

TELEPHONE No. 29.j

POWELL

TELEPHONE 46

LTD.

SPECIAL SHOW

OF EVERYTHING

"FOR

LADIES & CHILDRENS WEAR

INSPECTION INVITED

WM. POWELL

LTD.

J. ULLMANN & COMPANY. We are the BEST Jewellers and also have the BEST Cut Glass, and Fancy Goods of all varieties. Queen's Road. (Curner of Flower Street).

ANDERSON

THE

MUSIC CO.

FORMERLY Mess LANE, CRAWFORD & Co's FIAND DEPT.

For

HIGH CLASS

MODERATE

AL

PIANOS

PRICES

SALE & HIRE

REPAIRS A SPECIALITY

6, DES VEUX ROAD, CENTRAL,

(TELEPHONE NO. 1322.)

TELEPHONES.

THE WONDER WATER OF JAPAN. CLIFFORD WALKINGO I DASAN

EVERY DESCRIPTION OF WALL, TABLE & FIELD further period perhaps TELEPHONE INSTRUMENTS, SWITCHES, PROTECTORS, a hardship on many share-

indefinitsly..

Tbia will be

holders who are anxious to receive HAND-MICROS, FUSES, DRY CELLS, ALSO PORTABLE

a dividend, espially thone atare- TELEGRAPH INSTRUMENTS AND FIRE ALARMS

"Home" who

Fre

FROM STOCK

ARTHUR NILSSON & CO.

To-day's Advertisements

OF

passed; and that is, that the long as the shares were partly one of whom has stated to Mr. THROUGH OUR AGENTS FOR HONGKONG & SOUTH CHINA. Company agreed to sell to ibs paid. Furthermore, the Board Maitland "that be does not care for new shareholders 80 of the does not declars the dividends, large dividende, he would not care concern and there is nothing they merely recommend what they if they were reduced from in the Articles allowing the Com-shall be the shareholders in meet 88 to $4 For year, but he does pany to differentiate between the ing vole upon and thus fix what want the Debentures paid off" old and the new sbireholder in dividends shall be paid to them What they demand is: That the respect of dividend or otherwis." Eelves. This they have done Dal ntures amounting to $750,- vestment." Gentlemen, tell me The Company did not call 8/20|gularly half yearly till

BO66) shall all L paid off. As the as men of business, is this a good of the concern to the new sher When the new issue was made Detentores amount to $750 000 reagon, is it a sound doctrine? bolders. The Company sold new had the words pro rata un found the amount made available Your answer will be: Certainly alores to old shareholders, a very tried in the Articles no question by the call is only $200.000, not. We pay 8 per cent interest different matter and many of such as this could have orie. there will still remain $550,000 per annum on the debentures. those old shareholders have kept These words were not in ried atto le paid off. How do they We have be in paying dividends there new shares and have them that time and we are asking your to-day-I am one of those who e inction to im or hem now, and

at the rate of 12 r cent aunt. propose 13 pay this off? bas done so. If all the old share thus remedy a slip or oversight

If the ren given is the true They want a certain amount

renson i.e. if it is their dee're that holders had kept the new shares which was brought to our notice et aside out of profits no year the call be made to pay off thet the present question would not by one of our audifore, whos on tinned by them was $40,00) or debentures, there is very little to

for this purpose, the cum men- arise, so the division was pro salicior, Mr. Wilkin on, told me, $50,00 a year, which will be gaired in calling up the rats and equitable. The trouble it was wrong to continue as we has arisen, because some of he were and we metal ou Audi-mean cutting down the dividends Capitol for that pure,

shareholders have bean cles. This we as now end wou for years to come le is in

old

70

1:

FREE LECTURE

on

CHRISTIAN SCIENCE

Theatre Royal........ NOVEMBER 10th, 1913 at 5.30 p.m.

Wm. R. Rathvon, C.S.B., Member of the Board

Lecturer.-

of

then liquidate Lectureship of

The Mother only 26 - esat Of the Church, The First Church of in Boston,

LOST.

LOST. A Green Aquascutum Will the lady or

tempted by the profit offered and ing to do, end they vote agairat it) koping with the statement of the debenture -sue of $750,000. Christ, Scientist,

old their new issue. The new Mr Wilkinson', roting for the opposition the efft that theyThus you their purpose cannot Massachusetts. shares have been sold at $91 per Auditor aro1s him on Februg y

are not actuated by any hops of be accomplishe! To ad them share, a profit of 264 por cent. 24th 1913 as follows:

personal profit in the matler: no bad, eh? It shows the eager "It is no pet of the duty of the beatures should be paid off out so much des I have suggested and "are of opinion, that the de-in quickly scting the end they ness of the public to uphold the Auditor to advia the Diretora of the money raised by calling up that we all the "Manetons"," credit of the Company-on which or shareholders what they ought, this Uspital and out of profits property detached from the Hotel Coat. Mr. Grist tells us we have be so and what they ought not to do, and as they score" The reassa buildings, and which is of but trading — very*** kind indeed. it is nothing to the Auditors whe given for this is that they, "Went: little use to us for hotel parp Speculation has been rife, and to ther dividends are properly or the Debentures paid off, they but very valuable for basin make it profitable to those who improperly declared and an' want no charge of any kind on purposes. The sale of this pro have indulged therein, no effort. A diter vannut ikerofore be held the property, it is such a good in (Continued On page 1)

}

by mistake from the Happy

Fors, dapan

Son, Co. LTD

TULA

The Most Healthful Water Known to Sclence.

gentleman who took the above GANDE, PRICE & CO., LTD Valley Golf Club, on THURS- DAY, 28th October please return

it

to Major E. S. Stewart, 89 The Peak

6, Queen's Road Central, Hongkong.

STELEPHONE NO.

اب