1923-04-28 — Page 7

THE HONGKONG TELEGRAPH;

SATURDAY, APRIL 28, 192

DAY BY DAY.

SHANGHAI HOTELS,

LTD.

Proposed Amalgamation with Hongkong Hotel Co.

$33,454.86 to the Profit and Loss) Account.

BEVENGE IS AN INHERITANCE

I may mention that it was de- cided toward the end of last Superannuation year to discontinue the Staff for WEAK SOULS,

Fund, as it unfortunately did not adequately cover the requirements of our

No. 7, Eastern Street has been business, and all contributions exempted from the provisions of TO-DAY'S MEETING, were refunded to employees in the Rents Ordinance.

December last. I desire to take The annual meeting of share this opportunity of expressing qur bolders in The Shanghai Hotels, appreciation of the service re- member of the Licensing Board Mr. A. 3. D. Cousland is to ba Ltd., was held this morning in the dered by the staff, and I am quite during the absence on leave of Hongkong Hotal, when some sure that you will approve of your Mr. A. Denison, interesting statements were made Directors recommendation to regarding past activities and grant them a Bonus equal to 10: future intentions,

It was

in-[per cent of their salaries.

Mr. A. G. Coppin is be a Visit- dicated that the Company had. The strength of our balance|ing Justice to the Po Leung Kuk disposed of certain doubtful assets sheet must be apparent to you, during the absence on leave of and that an amalgamation is but this is only the result of the Mr. H. W. Bird. contemplated with the Hongkong due exercise of prudence, and our Hotel Co., Ltd. The profit on the policy must be to consolidate our sale of the Racecourse site was position; and although it is not a stated to be over $147,000. pleasing duty to have to sanounce The Chairman (Mr. J..Scott that no dividend is to be de Harston), in the course of his clared, I have no hesitation in speech, said:-The Head Office asking your approval of the of the Company having now been apportionment of the profits for transferred from Shanghai to the year as recommended in the

The Wesleya&09 are bolding Hongkong, it is my privilege to Directors Report. The Directors their Sunday School anniversary present to you the report and feel that the policy of strengthen- to-morrow. The special prescher, accounts of the Company infing the Company's reserves is at the evening service will be respect of the past financial year. fully justifiable and that the Capt. A. J. Holisad. As such report and accounts have Company will hereafter resp been in your hands for some days, great benefit the refrom. We have

has appointed Captain Arthur His Excellency the Governor

Murdech to be Major in the Hongkong Volunteer Dafenoe, Corps.

you will doubtless be agreeable in Shanghai very valuable assets, has accepted the resignation by His Excellency the Governor that I should take them as read. capable of great development, Lieutenant A. J. M. Weyman of You are, of course, aware that and with the recent scquisition his commission in the Hongkong business conditions ia North of the MacBain property which Volunteer Defence Corps. China were" not very happy is shortly to be opened as the througbout 1922. There was Majestic Hotel-covering a very

Tenders are being invited for

a great falling off in travel during large ares and situated on the two-

Kowloon Inland Lot 1583, the year, particularly from June main arteries of the city- we are aituate in Lo Lung Hang Valley, to October, and this Company, infortunately in a sufficiently strong and containing about 7,800 square common with all industrial con-position to meet all competition. feet, is to be sold at the P.V.D. cerns, suffered from the effects of! The Palace Hotel is doing very offices on May 14. The upset general trade depression. Never-well, and. with regard to the price is $3,900. theless, bearing in mind the Astor House Hotel, I may inform difficulties with which the Com-you that the new Grill Room, al- pany has had to contend. I think though only opened in December the erection of a garage, coal and| you will agree that we have been last, has quickly become the most wood store at the Wanchai Depot; able to show & siccessful year's fashionable and popular centre of also for the construction of the work.

social activity in Shanghai, and second section of the access. ad The net profit for the year that in addition to this the new to Shing Mun Valley. amounts to $557.887.34, being a Ball Room in the Astor House decrease of $56,418.33 on the year Hotel will be opened within the 1921. The efforts made to elimin-next two or three months.

The photographs of the V.R.C. ate from the assets side of the I would add that we hope soon sports and the tennis match be- balance sheet those investments to effect an amalgamation of this tween Ng Sie-kwong and 0. which occasioned somewhat Company with The Hongkong Rumjaho, appearing on severe criticism by the Company's Hotel Company, Limited, and picture page to-day, are by the Auditors last year have resulted your Directors are unanimous in Ming Yuen Studio.

in greatly stabilising the affairs of the Company. It was found necessary to be very drastic with regard to the Company's holdings

believing that, having regard to the very close interests which

our

exist between them, the amal-ex-Premier of China, is to deliver Dr. C. H. Wang, D.C.L., LL.D., gamation will prove a satisfactory & lecture in Hongkong to-morrow

in the China Motors, Limited, one from the point of view of both (Sunday). He has kindly consent and the China Press, Incorporat- Companies.

ed to speak in the Y.M.C.A. any Auditorium at 3.30 p.m. Hongkong, far from

ed, and the disposal of such hold. As it is probably, at ings was the catstanding feature rate in

•

of the past year's working. The being generally known, I would finsacial position is now consider-like, before concluding my re. A wine shop at No. 260, Des ably improved, and I think we marks, to point out how much Your Road West was entered may safely look forward to a very this Company owes to Mr. Bur-last night by armed robbers who good future.

rows-ho, with Mr. Taggart, is held up the inmates with re- Whilst the loss on the sale of its joint Managing Director for Tolvers and eventually escaped the China Prese shares proved to its, to my mind. eminently with money and jewellery of the be only $24,657.54 (which, I think, satisfactory present position. Mr. total value of $351. you will agree is very creditable Burrows has been in the Com-1

in view of the fact that this in-pany's service for some years. With the arrival of the police! vestment cost the Company over and was, during the time when on the scene, a number of Chines $43,000), the less resulting upon the late Mr. Ezra was the Com-boys who were playing football at the diaposal of the Company's pany's Managing Director, his Station Square yesterday instant- interests in the China Motors, right-hand man, and I think allly took to their heels. Two did Limited, amounted to $368,000. present will agree with me when not run fast enough and were These losses having been an- I say, as I do, that if the Company secured. Each was fined $1 by the ticipated, however, were amply had not enjoyed the services of Magistrate this morning. A third provided for at the end of 1921 Mr. Burrows during the past year, boy satisfied the Court that be! by carrying forward the entire the difficulties connected with was only an onlooker, and only profit for that year less the In-the task wherewith the Company kicked the ball when it came its Ierim Dividend paid in June 1921. was faced at the time when the way. The purchasers of the China Hongkong Hotel Company came Motore undertaking made an upon the scene would have been arrangement with us for payment well-nigh insuperable, and on by instalmente, and that has behalf of the Company's Board therefore increased the amount of Directors and its shareholders, of Sundry Debtors Account.

A PUZZLE A DAY.

I would tender to Mr. Burrows A glass of water, with a piace You will observe that the grateful thanks for his meritorious of ice floating in it, is filled to the Reserve of $150,000 (ar the services, and on my own behalf brim. If the ice is allowed to Palace Hotel building has been I thank him for the draft of this melt. will the glass overflow, o7 transferred to Properties Reserve speech.

will the water level sink ap; Account, and that the sum of I now beg to formally propose preciably? $11,448 has been transferred that the report and accounts of from Reserves towards writing off the Company for the financial the cost of plans etc., of, the new year ending 31st. December, 1921, hotel which it was formerly as presented be adopted and that proposed to eract apposite the the sum of $728,408,08 standing to Racecourse. It will interest the credit of Profit and loss Ac. you to know that the profit count be apportioned as follows:- made on the sale of the Race- Place to the Reserve of the follow- course site amounted to $147,- ing Accounts: New Hotel Dave- 088.30. To those of you who lopments," $221,448; furniture. are acquainted with Shanghai $30,000: improvement, $100,000; and its remarkable growth during general, $350,000; and that $26. recent years, it will not be a 960.03 be carried forward to the matter of surprise that this site 1923 Account. was considered unsuitable for the erection of the Hotel originally! comtemplated.

After seventeen years of ser

JDBMEO

Yesterday's answer:

The perplexing part about the scattered letters shown above, is

During the year we acquired vice in Chins. Mr. S. J. Deeks, that the letter "W" is not only from the Liquidator of the Shang-OB.E. left Shanghai on April out of its proper place but it also bal Sanitary Laundry Company, 21st. by the R. M. S. Empress of is upside down, so that it appears Limited, the property and plant Russia for Home. Mr. Deeks as a "MI" Turn it right side up of that Company at a very rea-resigned the position of Agency and you will have no difficulty in sonable price. At present we Manager of the Chins Mutual forming a word. In fact you will meking use of the Life Insurance Company, with wonder at the simplicity of the ntire plant, but we have which company he has been a problem! ler consideration the question of sociated since his arrival in that: ontracting for outside business. port. He came to Chine in 1906. The item in the balance sheet after serving through the South Loans on Mortgage" has increas. African War. He will be best

re not

el by $90,000, against which we remembered in Hongkong, 48 have the property known as Nos.

Shanghai's Interport wicket-

18 Babbling Well Road, which we took over from the China keeper. Motore, Limited, whan the Com- pray went into liquidation,

Ampla depreciation has been provided in the accounts for the furniture, fixtures and fittings of the Company's various hotels, as you will notice by the debit of i

The Best Family Investment

THE VICTROLA

It giren joy to all

MOUTRIES-Execlusiv Distributors.

WONDER

DAIRY FARM NEWS.

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LAST CHANCE TO SEE

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||

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Do not accept the first cigar

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The Hongkong Cigar Store Co., Ltd.

Powell

Tel. C3146,

UMBRELLAS

11

GENTLEMEN'S OUTFITTERS

AND

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SPECIALISTS

Hongkong Hotel Buildings

Our Raincoats

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and our specialite: "Light Weight" Macin all qualities with or without Belts.:

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WATERPROOF

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INSPECTION INVITED

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J. T. SHAW

Ladies' & Gent's Tailors

TEL. CENTRAL

692.

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CAPE WINES

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CALDBECK. MACCREGOR & CO., LTD.

15, Queen's Road Central,

(Telephone Central 3o. 15)

BLACKWOOD & TEAKWOOD

FURNITURE

Quality and Lasting satisfaction guaranteed

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Complete House Furnishers

65, Queen'e Road, Central.

Tel. No. 654

MOSQUITO'S!

Safeguard yourself against the danger of infection from Mosquito Bites by uslug

OUR MOSQUITO LOTION Try a bottle to-day Prices 50, 75, $1.25

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14Queen's Road

Tel. Central Na. 1877.