TO-DAY'S HOTEL MEETING.
THE HONGKONG - TELEGRAPH. SATURDAY, MARCH 22, 1924.
the business of the Company is
THE FUTURE. (steadily expanding on sound Speaking generally, though one progressive lines, and there is no naturally hesitates to prophesy as doubt that the amalgamation to the future, I venture to think which has been effected will that the results of the past year! result in the economies prophesi-fare of much AD encouraging ed by my predecessor in this nature (bearing in mind the vicis- chair. You may, moreover, rely situdes through which we haral Resorces stand 21 $4,933,767.48, 02 your Board so leave nothing passed mainly as a result of the undone to administer the affairs prejudicial effect upon our trans- of the merged undertaking in the lient business by reason of the
¡Continued from Page 1)
RESERVES.
of which amount the Construction
and Development Reservə ac- counts for Sve lakhs, and the
DAIRY FARM NEWS.
Natures Best
Milk; and it products
most economical manner consist-Lincheng outrage and the Japan Butter, Cheese, Ice Cream
General Reserve for ten lakhs, with proper maintenance and disaster, both of which naturally
efficiency.
the latter having been increased; from 7lé lakhs by the transfer of
year.
NEARLY 15 MILLION MEALS.
very much curtailed the Autumn travel) that we may look to the future not merely with equanimity -216 lakhs from the profits for the Various alterations and addi- but with a degree of confidence, It may here be as well for tions were affected during the more especially as with the com me to draw your attention to the year, the most outstanding of pletion of our new hotels we shall fact that the allocations in respect which was the construction ofthe be in a position to deal with a of the balance of Profit and Loss new Ball Room in the Astor greater volume of business and on Account which your Board re- House Hotel at Shanghai, opened more economical lines than here- commend for the year under ro on the 22nd December last, and fore. In this connection it would view have, in anticipation of your it will interest you to be assured perhaps not be premature for me approval. been incorporated in that this addition has already, by to say that your Board have in the printed Balance Sheet as it the patronage extended to it, been mind, when the Periusola Hotel is was considered preferable from proved fully justified. the shareholders' point of view kong. alterations and improve the old portion forming the north- In Hong-completed, the reconstruction of that the printed accounts should ments were effected in the Hong-era block of the Hongkong Hotel. set forth comprehensively what kong Hotal and the Repulse Bay that is to say the portion fronting the financial position of the Hotel of a nature that will Company will be after the pro-jundoubtedly augment the earning with a view to eracting thereon Des Voeux Road and PedderStreet, posed distributions in respect of powers of these establishments. the year 1923 have been effected. I may
up-to-date establishment mention, en
pussunt.such as its position in the heart Reverting to the figures before that. during the past year of the business and banking dis you, I would point out that. Land we served in the Hotels and Building Reserve stands atjunder our management no less
tricts undoubtedly warrants and demands. $3,453,767,48 and that this is than 1,480,000 meals exclusive of chiefly due to the fact that in outside catering, with the result view of the merging of the Com-that it was found necessary
patrons
an
SHAREHOLDERS REASSURED. I was recently approached by panies, your Board deemed it considerably to extend the dining somewhat perturbed by reports of a shareholder" who appeared to be advisable to have the properties space in must of our establish threatened competition, and 1 re-valued by independent valuers ment in order to cope with the should like to take this opportu and, such valuations having been constantly increasing demands pity of informing shareholders made. the appreciation in book made upon us in this.direction.
that if they value thereof bas been transferred
will merel to the credit of the Land and
* THE MAJESTI HOTEL. glance at the Balance Sheet of Buildings Reserve. As a conse The major portion of the the Company wherein the assets quence of this, the annual depre-constructional programme in total $15,998,012.60, and bear in ciation to be charged in Shanghai has been in connection mind the fact that it owns, in accounts in respect of buildings with the property acquired last every place at which our business? will be based upon the residual gear from the McBain Trust. is established or will be carried life value thereof in accordare This property is in course of on, what are probably among the with the valuations recently conversion and it is anticipated most centrally located and Valu-| made.
that it will be ready to be opened fable sites, the majority of which in the third quarter of the were acquired years ago et rates VALUE DE LAND AND BULDINGS present rear." I
bave every incomparably lower than those Turning now to the assets side confidence that on completion ruling to-day, they need have no of the Balance Sheet, land and the Majestic Hotel will enable us Qualme in this particular connec- buildings are represented by to present Qur
antion. During its fifty-eight years figures based upon the valuations establishment offering a degree of of Hotel experience in the Far to which I have just referred, and accommodation and service equal East, tho. Company has success- if I may be permitted to say so, Ito the leadings hotels in Europe fully forged ahead notwithstand- think such valuations have been and America, whilst the building ing competitors who have come arrived at on conservative lines, andtheextensive ground-in which and gone from time to time, Leasebold Properties $1,490,930 it is situate will provide for and I trust therefore chat is in respect of the Palace Hotel Shanghaia property worthy of and I shall not be suspected of being property in Shanghai which we in keeping with its importance over-confident if I say that our hold under lease which is not as the premier commercial conservative policy of setting due ΤΟ expire for thirty-two centre of North China.
aside liberally in the matter of years, and, at
depreciation and transfers 'to re- of that period
Farves and at the same time option of purchase. Furniture construction of the Peninsula properties, has been mainly res- In Hongkong. work on the maintaining and improving our and Fixtures, Linea. Crockery Hotel at Kowloon is proceedingponsible for placing us in such a and Glassware, etc. are all based satisfactorily, and we are promis-sound position to day, that the upon conservative figures. Invested by our architects that the resources of the Company are ments $269,854.85 stand in our books at cost and I dare say thating will be completed by the such that competition need not you will have noted that with the the actual constructural work will however, that we are not alive to end of April and that thereafter be feared. It must not be thought, exception of the small item of
proceed with rapidity. On com-the imperative necessity of keep- $2,337.19 we have no money pletion of this establishment,ing abreast of the time, but invested in any business other Hongkong will be equipped with having than that in which we ourselves an hotel second to none between various projects in the nature of outlined to you the are engaged. Payments on acSuez and the Pacific Coast, and count of construction in progress the Company will be in a position that are contemplated and in improvements randi extensions $278,750.52 is accounted forby pag- to offer both to the local resident hand, and you yourselves being ments on account of work whiehand to the transient guest up-to-witnesses to the improvements is proceeding in connection with date accommodation and service already effected in our establish- the construction of the Peninsula Hotel at Kowloon, the Shameen of the average purse.
at rates well within the rangements, I think you will agree Hotel at Canton, and cur new
that your Board. in spite of the garage at Happy Valley. The other items being self-explana tory. I venture to think itu necessary for me to offer any
the expiration
we have the
THE PANINSULA HOTEL.
meet the re-
Plans have already been drawn troubles and delays incident to all Hotel, and work will be con at the present time. are doing up for erection of the Shameen building and reconstruction work menced upon the construction all possible to thereof in the immediate futurequirements of an evergrowing comments in connection there- with. I may add. however, that thi- connection I can only Hotel population and the de- as from the 15th of November repeat my remarks in reference minds of a public only too last we acquired the business and however, this addition, that the evidence of its patronage.
the Peninsula Hotel, with, ready to approve by the practical general essets, etc. of the Hotel Shameen building will naturally!
to
Kalee in Shanghai, which pre be of more modest dimensions.
viously, although the actual pro-
perty was owned by The Shang- hai Hotels, Ltd. had been leased
by them to the Grand Hotelfum Kaler, Ltd.
satisfactorily tuquidated :
past
THE NEW GARAGE.
Our Garage Department.
OTER 4.000 EMPLOYEES. In conclusion. Gentlemen, it may interest you to know that the number of employees in our i
are the most nourishing of all foods for people of all ages.
There are no substitutes for
Dairy Products & Health
Include a liberal supply in the daily diet and ensure. the health and efficiency of the family.
Milk
Fre
Cheese
Ice Cream
15 cents per bottle Kraft Loaf 80 cruts per lb. in all popular flavours
Skinned" 5
Saured 16
Batter
Cream 10.
$3.50 per ball
66
Powell
Telephone C,3146
SPECIAL SHOW OF BECTIVE" and
66
KELTIC
FOOTWEAR
FOR GENTLEMEN.
These two makes of High-class Briush Footwear are GUARANTEED to give satisfactory wear, you are thus assured of reclving real satisfaction when purchasing either **Bective or "Keltic" Shoes.
Australias-
Cheddar 75'
*
+
Piatach $1.00 Quart $2.00
DRESS SHOES
New Zealand.
BUSINESS SHOES
Edam
COLF SHOES
TENNIS SHOES
SLIPPERS
(week ends only)
11
T
Coolammier (own makel 40 cis, per pal. Picnic
da
Fresh Cream 60 cents per phial Devonshire 75
"1
30
What Lloyd George learned
from the old Shoemaker.
1
OU wan a speech of David Lloyd fieorge, and you
express himself with such power?, What college did
You Sug: "How did he learn to think so clearly and
he attend?"
His college was the cobbler shop in a little village in Wajes: his teachers were his uncle the cobbler-and a few really worth-while books.
It was those books, wisely selected for him, and systematically read, that gave Lloyd George his start. And good books will do wonders for anyone.
For reading-upplied reading-is the greatest too! anyone can have in building a success-socially or in business.
Decide today to stop-wasting your reading hours. Say "to yourself: "From now on I will read only the books that will build me a success; the bocks that are proved their building power in other lives."
For further information GI THE HARVARD CLASSICS. 51 volumes, please fill out and mail the ittached, coupon.
THE ASSOCIATED PUBLISHERS
P. O. Box A. 202.
"
..Hongkong.
(Home Office. Rochester, New York, Established 50 Years.)
THE ASSOCIATED PUBLISHERS.-P. O. Box A. 202 H.K.
Kindly send me further information regarding THE HARVARD CLASSICS 51. volumes. Cambridge Edition.
Name
Address
Occupation
HK. T
an
ONE OF WOMAN'S
WORST TROUBLES
pleased 10 state, had organisation totals slightly over shen an increase. in tumn-14.900 and it is a source of Lover. notwithstanding the gratification to know that the DOUBTFUL ASSETS LIQUIDATED] advent of competitive means esprit de pe that dominates to the report which you Before closing my remarks in of automotive transit, but we jour personnel makes it the have just given to us, which relation to the Profit and Loss have for some time past constant endeavour of every covers tally and yet concisely Account and Balance Sheet. unfortunately heen severely member thereof, notwithstanding the position of the Company and desire to point out that the handicapped by the lack of the hard work and the pro- the activities in which it is en- doubtful assets with which The adequate garage facilities in longed hours of service that our gaged. I bave no hesitation in Shanghai Hotels. Ltd. was which to house the modern plant business necessarily entails, to saying that I must be expressing is easily and quickly overcome encumbered have How been necessary to cope with ever. further the interests and welfare what is in the minds of all the with the aid of Pinkettes Gently cor increasing demands made upon of the Company, in every con- shareholders in this Company, laxative, they cleanse the system, sequently, it is gratifying to your our repairs department, and your ceivable direction. It is there- when congratulate the Directors thus dispelling bilious bead- Directors to be able to present to Board therefore took the opport fore with much pleasure that I and the staff who have ably assist aches, purifying the breath, clear- you a Balance Sheet that does unity of acquiring a very suitable now express to the Staff on them, upon the excellent resulta ing the skin of pimples and blotches. Dainty, tiny, yet not include any assets of a site at Happy Valley, comprising behalf of the Directors and, I attained during the past year. doubtful Dature. the which caused them a
matters some 16.000 square feet. On this am sure you will agree on behalf There is no doubt but that the thoroughly efficient, Pinkettes certain site a modern garage capable of of the Company generally, our Company isto-day in
keep you well Of chemists, or amount of uneasiness during the housing 150 cars, and providing thanks for the faithful and exceedingly sound position, and
post free, 60 cents per vial, from Dr. Williams' Medicine Co., 60 two years having been for up-to-date body-building, efficient service rendered by them that the extensions and fically disposed of before the repair and painting shops, is in during the past year, which improvements saferred to will Kiangee Road, Shanghai, close of the last financial year. in course of construction. We have service has contributed in no not only considerably enhance which connection I should like to already received numerous ap small measure to the extremely the value of our properties avail myself of this opportunity plications for permanent accom- satisfactory results attained. In and provide the increased accom of axpressing to the gentlemen modation in the new premises, this relation I feel confident that modation required by the public, Kadoorie as Directors of the who constitute Our Advisory which will be situated at the you will endorse the action of the but will in the course of time Company were confirmed, and Committee and to our General converging point of what in the Board in voting a bonus of bring additional revenus and Sir C. Paul Chater was re-elected Manager in Shanghai our ap-course of the next few years will 10 per cent on their salaries to pront to the Company. With
a Director. preciation of their valuable undoubtedly become one of the the European members of the these few remarks, Mr. Chairman, advice and assistance, which main arteries of the Colony. On Staff and a Bonus of an ad- I beg to second that the report Meaars, Porcy Smith, Seth and have contributed in no small com pletion of the new road to ditional month's salary to the and accounts be adopted and that Fleming and Messrs. Thomson degree to this very satisfactory Repulse Bay ria Wong-nei-chong native staff, which following the the profits be allocated in the and Co. were elected Auditors of state of affairs.
Gap, we look forward with plea established custom was paid to manner proposed by the Board. the Company for the ensuing
The report and accounts.were year at the same remuneration! BUSINESS STEADILY EXPANDING urable anticipation to being in a them at Chinese New Year.
position to considerably lower CONGRATULATIONS.
adopted.
as before. Whilst the results of our oper the charges for transportation
Mr. H. Birkett, in seconding, ations Zuring the year 1923 are to the south side of the Is-said Mr. Chairman.—I am sure, reflected in the accounts before land and to render an effici-that I am speaking for all those you, it will doubtless add to eat and more frequent service present when I say that we have Mr. P. H. Holyoak and Mr. E. S.
tisfaction
to know that! to our patrons,
listened with very great interesti
your
BUSINESS MATTERS.
The appointments of the Hon.
The fes of the members of the Advisory Committee in Shanghai each per annum. was fixed at the rate of $1,200
"Bective "*
and
Keltic
BLACK er
BROWN
GLACE KID,
PATENT.
CALF and CANVAS.
For Style, Quality and Service Shoes $18.50. Boots $18.50, Brogues $21.50. Slippers $4.50. We shall be pleased to show these to you or send on approval.
Wm. POWELL Ltd.(Sole Agents)
Hongkong Hotel
Buildings.
BRANDIES.
Legrand et Fils. Courvoisier B Co. -
Rouyer, Guillet & Co.
John Exshaw No. I & Very Fine Old Liqueur
F. O. V. Liqueur.
B. B. Pale Old Liqueur.
CALDBECK. MACGREGOR & CO., LTD.
15, Queen's Road Central
[Telephone Central No. 75)
ASAHI BEER
BREWED BY
DAI NIPPON BREWERY
Co., Ltd.
TOKYO JAPAN
Specially Brewed for Export
Sole. Agents-
Mitsui Bussan Kaisha, Ltd.
HONGKONG.
Now, is the winter of the Pipe Smoker's content, As the Government will not reduce the Duty on Tobacco, we have reduced our prices for the following Brands:
Skippers Pinnace Navy Cut B.D.V. Mixture Cordangan
$1.20
$1.20
***
$1.30
$1.50
Boardmans, Chairman Recorder,
John Cotton, Barney, Parson's Pleasure, Punch Bowl, Army Mix-
ture all to
$1.50
Ardath
$1.40
Variadis Egyptian Cigarettes
reduced to non plus ultra
$1.60
La France
"$1.49
Dames
$1.40
Superfines
51.30
THE HONGKONG CIGAR STORE, CTD,
Alexandra Building.
No comments yet.
Private notes are available after approval.