1925-04-08 — Page 1

.

SAVE YOUR EYES. FROM SUN GLARE!

the best protection for the tropics 1s the tinted--SIR WILLIAM CROOKES LENS.

We have the GENUINE lausos and can make them up without optical power your own prescription...

or to

LAZARUS

The only Europuna Optician in the Colony.

The

Thongkong Telegraph.

FOUNDED CINE. No. 12700

三拜禮

號八月四英港委

MEETING.!

HOTEL COMPANY

PROPOSED

NEW SHARE

ISSUE.

NEW WING AT REPULSE

BAY

The intention of the Hongkong and Shanghai Hotels, Ltd., to raiso more capital shortly by offering throu further shares for overy ton shares held in the prosent issued capital of the Company, at a premium of $2.50 unch, was announced at the annual mosting of

wore to the following effect:-

Owing to the popularity of the Majestic Hotel in Shanghai, it is intended to increase its accommodation from time to time as opportunities pormit.

Poon Lai-fung, H. Gitting, T. N. Chau, Yi Ping-lau, Ip Wing-cho,

Ko Leong-ho, Fred Ellie, Tank'

J.

Chan

senso of tha

for

each

Bocuro

CAPITAL.

ono

WEDNESDAY

tun

a

and

APRIL

8.

1925

日六十月三

our

COLLEAGUES”.

manner.

the

When the

BINGLE, CULT 10 DENTS 836 PER ANNUM

PAINTING

Wo use ACME QUALITY Paints and Varnishon

We Guarantee un absolutely satisfao- tory PAINT JOB on YOUR BUS. Glad to quote you prieos,

THE DRAGON MOTOR CAR CO., LTD. Telephone Central 1246 or 1247. A. J. Álaun, Service Manager

CONSTRUCTION

QUESTIONS

BY

MEETING.

SHAREHOLDER.

CHAIRMAN EXPLAINS DEFICIENCIES.

จ

may

by knocking the

On bachair and there were niso present the pioneer of this kind of pliing in

of

Bix months

of the profits of 1923. Therefore, to the Hotel and we are thorofoto aftor allocation of the $281,617.20 in an excellent position to enlarge paid an interim divided for 1924 the premises as the situatien. and of the $454,183.20 proposed domanda, and, as the land is

GOVERNMENT SEAMEN as final dividend for the year, the already owned by the Company,

RESIST SEARCH. sum of $119,282.12 romains to be the expenditure to bio faced carried forward. This balance in this connection wou'd be that "

By the pa Two Chinoso ecamon, of the somewhat larger than the amount the buildings only we usually carry forward to the chase of this property, wo hastoam launch Victoria, appeared PENINSULA HOTEL READY NEXT YEAR.coding year; nevertheless, I not only safeguarded our int before Mr. E. W. Hamilton, at the amconfident that shareholdes will oats in the rapidly developing | Kowloon Magistracy thie morn-!

on charges of resisting andorse the notion of the Board in wostoru district of Shanghai-thefing, proposing that this balance be situation being excellent and soaroh by throa Chinose detectives

SOME CONTRACT FIGURES. thus be sufficiently removed from the in Waterloo Road last night.

tho The detectivos, who wore on carried forward and available for the requirements of congestion and noise of tho onauing year.

city to be suitable for residential search duty, following the report An exhaustive series of questions yield satisfactory profits and had purposos and yet within oney of an armed robbery at No. 1109 was put by Mr. J. P. Braga at the we not to carry this dead weight of Inccess of the shopping and busi-Carton Road, mot

two third annual meeting of the Hong-losses, we could have shown a fair Turning to the balance sheet, 'noss contro-but have acquired a defendents in Waterloo Road and kong Engineering and Construction return on last year's business.

Our Franki plling system, shareholders hold at noon to-day. Further announcements mado you will observe that during the landed asset that will show an accosted them with the intention Company, Limited, held at the

year 1924 the Company's issund enhanced valuation year by year of searching thom.

| notwithstanding what you and Co., this morning. mon'e bodies they

Mr. R. G. Shewan was in tho have read in the local papers, was Capital was increased by 381,972 as evidenced by prices recently dotectives brushed their hands illces of Messrs Shewan, Tomos (which, I may say in passing and shares. This was occasioned by paid in respect of properties in over the the issue of shares at par in that vicinity. I feel that it is retaliatod

to rofor to the contablos' hands off.

ballroom,

that asing told

the seachore the Hon. Sir Paul Chater, the Revthe Colony), promises to be a pro- constables, the Father Robert, Mr. J. Scott Har-fitable source of income, for it has Arrangements have been completed for the acquisition of the accordance with the offer to unnecessary

"old"

share doubtless shareholders will have werg, polico

replied

that ston (directors), Mr. S. C. Cook given great satisfaction wherever reversionary interest in the Palace Hotel, Shanghai, proviously held shareholders of ono "now" share restaurant

then hold by them, and by perused with intorost the very two defondants

wore colleagues boing! (Secretary). Messrs. Fang Tat-it has been adepted in preferenco on loaso, at a price of £62,500, thus completing the ownership by thol

We feel that the isauc об 10,000 Bharon; favourable comments made there- they Company of all the sites upon which its hotels are situated or under

there is a good future before-It construction.

as the system has special morits of Purchase of the site of the Peninsula Hotel, Kowloon, has been credited as fully paid-up in part on in the prose reports in regard employed on His Excellency's hang, J. P. Braga, Li Po-chun, J. to ordinary piling.

which no other method of concrete completed, and it is hoped this hotel will be ready for occupation in consideration for the purchase to the opening of the Majestic launch, Victoria, and wore as, Coulthart, A. A. Aives, and

of 16 to 16d. Dos Voeux Road Hotel, and also in connection much Government servante as Gain (shareholders).

After the various public functions the detectives wore.

CHAIRMAN'S SPEECH.

Additional the third quarter of 1926.

piling partakes. Central, Hongkong, to which I with

two men started to be abusive, A mortgage of two lakhs of dollars has been paid off the pro-shall refer lator. The balance of since held at that establishment.

the detectives took them to the The Secretary having read the machinery has been ordered and is perty at Repulse Bay, where a now wing of 60 rooms to the hotel is

our authorised capital remaining

THE PALACE HOTEL.

Police Station, where they bo-notice convening the meeting, the on the way out from Europe and, unisauod now consists of 243,028

in a expected to be ready for occupation in the last quarter of this year.

vory disorderly Chairman said:-Gentlemen, The as working costa have been reduced, The Company's now garage at Happy Valley, giving accom.sharos, in which connection it

Improvements have also been haved

ropori and accounts have been we are now in a position, lo tender appoars opportune for me to effected in the other establishi

Гог modation for 150 cars, will be available at the ond of this month.

The defendants denied having in

hands your

some on a competitive basla with any make mention of the fact that monts under our management in offered any rosistance, remarking days and, with your permis-other system of piling. your Board propose to issue as Shanghai with a view to modar that the detectivos insisted on gion, we will dispense with the As to our prospects in general, Mr J. H. Taggart prosided and therefore with a there were also prosent: The profoundeat regret at his death many of the shares comprising nising same, this boing particular their going to toe station after reading of them now.

AL our I feel I can still speak encouraging- make this reference, this balance as will be required 13 necossary owing to tho Hon. Sir Paul Chater, the Hon. that I

they had,bocn searched.

meeting last year, 1 referred to cer-y. We have, of course, to wipe Mr P. H. Holyoak, Mr J. Scott inasmuch as this sad event not to satisfy an offer, shortly to be

increasing popularity of

In imposing fines of $10 each,tain contracts with the Hongkong off this deficit of $183,000 odd Maraton. Mr E. M. Raymond only doprived the Colony of a made to shareholders. of three catering departments, as shown his Worship thought that because Government, which were causing before the Company can possibly (directors.) Mr W. J. Hawker public spirited and able councillor further shares for every by the volume of patronago they

they wore Government sorvants

losses, and I said that the difficul-rench a dividend-paying basis, but in the prosent aro receiving. As you ATO (aanistant general manager) Mr but also removed from our midst, shares held

ties encountered had been overcome with the other work now in hand J. Bartholomew (acting secretary) at an all too early age, a figuro issued capital. Furthermore, it doubtless aware, the property they wore above other people.

and work was proceeding more and in view, and with careful the Rev. Father L. Robart, Messrs whose genial manner and kindly is proposed on this occasion to comprising the Palace Hotel in

satisfactorily. This was true at management, and the exercise of Fung Tat-hang, A. W. Smith, disposition ondeared him to all

a small premium for Shanghai (situate at the junotion

USING PEASHOOTER. that time, as we had succeedel, the strictest economy, I do not J. P. Bourne, J. E. Mackenzie, w ith whom he came into contact the benefit of the Company; to of The Bund and Nanking Road) this, I venture to think, shara was held under leaso by the

after long and difficult negotiations, think it will be so very long before J. T. Bakram, Lưu Shiu-chinh

THE ACCOUNTS.

hollora cannot reasonably take Shanghai Hotels, Ltd. for a perio

in placing upon a proper basis our our accounts begin to show a I said H. J. H. Whito. U. N. Omar,

arrangements for the supply balance on the right side. more especially in of fifty yours from 1905. I am DAMAGE TO MOTOR CAR. 'ang Chi-ngong. Joseph Gould,

Turning to the accounts for the exception,

For discharging peashooters at labour and materials, and had good last year that we were then in year 1924, you will observe that view of the fact that the issue of plossed to be able to inform you nott credit balance of Profit and share for share last year was that, due to the lengthy unexpired W. H. Brown, Lam Shiu-bing Loss Account amounted to $855,-made at par and thus placed period of the loase in question, a motor cor, causing marks to reason to hope that the worst was better shape than Chi-bing, L. A. Tobias, H. S.2.3, as against $1,068,790.15 in shareholders in an exceedingly your Board have recently been the bonnet, Mr. Thomas Arnold, over. The engineer formerly previously, and I can say now that Steamboat Company, viously been called upon for an for all kinds of construction werk Bennett, Felix M. Ellis, W. E. respect of the year 1923. Deduct-favourable position. Consequent enabled to completo arrangements of the Hongkong, Canton and charge of these contracts had pre-we are still better organized to-day Van Eps, Chan Yat-fang, R. 1ing therefrom, for the purpose of ly, it is the intention of your for the acquisition of the revor Macao Board

to offer those further sionary interest at the raasonable charged a small Chinese boy at explanation of various matters con-and, in particular, for our speciality comparison, the amounts respec.

Contral Magistracy this nected therewith, and, as he could which is reinforced concrete con- Bridgor. M. J. Cox,

The incident was give no satisfactory answer to the struction of all descriptions. Our tively brought forward to 1924 shares at $12.50, that is to say 0. Kitchell,

racont independent morning.

was plant, machinery, motor trucks, that Sinclair.

to him, he havo occurred in questions put

the Company's lete, are all in good condition and Tung-shan, Dr. C. M. leanley, and the preceding year, the re-at & premium of $2.50 per share figure £62,500, and having in mind the

assossmont made appraised the stated to June and $5 on the 30th Septem- value of

alono the land

at Bonham Road, near Hill's Street, jdismissed from T. R. Parsons O. R. Benson, Glative natt figures are $769,844.87 payable us to $7.50 on the 30th

their service and subsequently left the have been adequately written down P. Lammert, P. M. N. da Silva, and $1,043,076.05, showing

of $273,231.18 for her next. In due course, notice will Tls. 767,000, the purchase is one when two boys aimed

the cur passed. Colony. It was discovered that the in the books. H. Birkett, A. A. Alvos, Ederrosso

not inconsiderable peashooters as making ho given to sharoholders in

I now propose that the report and the past your. In

showing a Tang Abraham, E. E. Ellie,

benefit to the Company, moreno of thom (tho defendant in engineer in question had made Hang-kai. Ng Siu sau. W. J. such comparison, however, lation to this proposed issue and

Jor knowledge of the Directors) in and when this has been seconded Carroll, A. (. W. Ogilvie and dosire to point out that the profit the terms of the offer vis-a-vis tho especially in view of the fact that the case) was caught after a commitments (without the sanction accounts, as presented, be adopted.

most Mr. J. R. Wood discharged tho

manner reckless

I shall be pleased to answer to the othors. The total number of for the year 1923 included an holdings in the prosent subscribed it will be necessary within the chano.

amount of $145,268.60 reprosont-capital of the Company,

next ten or fiftoon yours to con-

best of my ability any questions shares represented was 223,336.

ing profil realised by the disposal,

sider reconstruction of the Palaco diminutive defendant, but direct-apparently without regard to the

When that time arrives, ed that his mother, who had ultimate outcome of the contracts, thereon, that shareholders may during the past year the Profit The outstanding feature in the it will be a source of satisfaction agrood to the course to give the and it was not an easy matter to:

business to us to be in a position to embark boy a chastisement outside the arrive at a satisfactory understand.wish to put, The Serrotary having read the and Loss Account, so far from development

manner satisfactory

ing with the parties concerned. As notice convening the meeting, receiving the benefit of any during the year under review, upon this work in the knowledge court in a

owned by to Mr. Thomas Arnold,

time went on; however, it became

Mr. J. P. Braga sald---Mr. The Chairman said:-Gantlo similar items, was, on tho con. was undoubtedly the oponing of that the land is

Company: inoroovor

apparent that the estimates of our mon. The accounts and Dizoc- trary, unfortunately handicapped the Majestic Hotel in Shanghai the

in on the let November last, and I should not be faced with the

late engineer, upon which the Chairman,-I gave notice last week the that I would ask certain ques- tors' report having been in your by extraordinary charges

pleased to bo able heavy amortization allocations

tenders in connection with hands for the proscribed poriad rospect of legal fees, stamp am

inform you that the that would otherwise be neces.

contracts above referred to were tions at this meeting. In my let- conforming with the Companion' duties, etc., included in the dobiti to

baned; were made out on far.tooster to the Secretary I stated that Ordinances, I will, with your of $95,531.01. The liquidation of measure of patronago extended sary under the lease which would

low a basis to lead to anything but I would like to make it clear that I permission, follow established the Shanghai Hotels, Ltd. and to that establishment since its then have a residual unexpired

severe loss, quite apart from was not submitting my questions procedura and take the same as the transfer of its properties inception has already been such life of merely fifteen to twenty

the initial losses and despite the in any heckling spirit. I reiterato assurance. On the other read. The report of the Auditors under the agreement for ama las to justify the notion of your years. I am pleased to bo alilo

hod effected. that We The Tai Yau, the Chen Kwong economies ie as follows." We have audited gamation with this Company Board in acquiring the property to inform you that the purchase.

realised this, and, I desire certain information the above accounts and balanco and the hypothecation of hotel and converting the main building of the Palace Hotel property now

with the shoot

books and properties both in Hongkong and for the purposes of an hotel. By completes the ownership by the and the Tin Suen Companios As

amongst those against which was about the middle of 1924, and, in view of the fact that there the are some who imagine that this documente of the Head Office and (after transfor in the liquidation) the inauguration of the Majestic Company of all the sites upon the accounts and balance sheet of in Shanghai, as security under Hotel, we have embarked upon a which its hotels are situatod or whom proceedings wore tako, we placed

at the Central Magistracy this Government, and were informed Company must put up its shutters the Shanghai branch rendered by mortgage to our bankers in con- project whisb, I have no doubt, are under construction.

with thu financial will, in Co. nection

Bourse of time, sub- Thomson and

to restore confidence in the Cont to make would be considered by business, I neck information so as During the year 1923 wo paid morning, for alleged infringmont

the satisfactory certified by thom as correct. Wo facilities granted to this Com-stantially augmont the revenue

tooth brushes. Tho summonses

pany. Personally, I do not sharo be glad to hear that my view hna and explanations we have re-dogrue for this heavy expenditure, extensive nature of the well laid- the Peninsula Hotel at Kowloon, against the Tai Yau and lin Government on

price of the site quired. In our opinion auch in addition to which I might add out grounds and the central locs and satisfied the balance of the Son were adjourned, whilst in completion of the contracts in that pessimistic view, and should

the Chon Kwong case Mr. Hughton. We expect to finish these parti- balance sheet is properly drawn that a not inconsiderable portion tion of this valuable property.

to render to our acquired in connection with the Jones applied for a withdrawal, cular contracts within the next few the endorsement of the Director- up so as to exhibit a true and of the toos was incurred in con- enabling us

proposed construction of the stating that the Company had months. In order to show theate. It is to be regretted that, correct view of the state of the nection with legal action taken patrons service of the highest Canton Hotel on the Shameen-undertakon to surrender the goods position as clearly as possibio in even though the Company is now Company's affaire according toby your Board in a matter con- quality, in an atmosphore of equal Wo also paid off a mortgage for hearing the false marks and to the accounts, your Directors have in the fourth year of its existence, from carrying further felt compelled to provide in the it is not yet placed on a dividend- Profit and Loss Account for anpaying basis. I am aware of the estimated loss on Government con-uneviable conditions created for Itracts to the extent of $310,000. the present Directors, and, far This represents the situation on from wishing to make their dificult the 31st December last as nearly position more embarrassing, I What the hope the answers to my questions as can be estimated. Anal outcome of these contracts will have the effect of restoring will be is extremely difficult to pubile confidence is, end support forecast, and I can only say, at af, the Company. We have heard great deal about "combinations" this stage, that I do not think It can be much worse and may be aand "rings" to keep up building little better. I might add, 'n fair-and construction costs in Hong ness to Mr. Gain, our Manager,kong and there seems little doubt. that the engineer to whom I have that such "rings". do exist. I referred, came to us with satis-should imagine, however, that the factory testimonials and special Hongkong Engineering and Can- qualifications for the work we re-struction Co. is just such a Com- quired of him, which was that of pany as would be a factor towards estimating for, and taking full opposing auch "rings." If for that leharge of, contracts for public reason alone, not to mention the fact that it is a local Company ¡works.

with Directora having large in- terests in Hongkong, the Company should look to the Government and

CHAIRMAN'S SPEECH.

Mossra.

of certain investmonta etc., whilst

THE MAJESTIC.

of our

TC-

Hotel.

WO

wero

TOOTH BRUSHES,

TRADE MARK PROSECUTIONS.

5000 as we

our case before

and!

Mr. Fung Tat-hang seconded.

QUESTIONS.

bave obtained all the information pany, were responsiblo in a groat of the Company by reason of the the Government for the site of ot the "Pro-phy-tac-tic" brand of that any representations we desired and, sooner or later, gu out of

the best and the

of our

purchase

information nocted with the Shanghai Hotels, comfort that cannot fail to prove

property. explanations given Ltd., which action, being satis-attractive and which it would be two lakhs on our Repulso Bay

for

stocks.

HOME FOOTBALL

SCOTTISH LEAGUE

WAS

RESULTS.

London, April 7. The latest Scottish football Rangers 2, Aberdeen 0, St. Mirron 1, Airdrie '0,

to Ив and 48 atown by factorily saltled out of court, exceedingly difficult to surpass

DEVELOPMENT IN HONGKONG. the books of the Company resulted in this Company rocovar-olsowhore. At present the limited Percy Smith, Soth & Floming, ling a sum of some $400,000 which bedroom accommodation at our

Turning to Hongkong, I desire Auditore, Hongkong, 23rd March amount was absorbod in the disposal has resulted in the man- 1925."

assots on amalgamation.

agoment having been reluctantly to point out that although pro- прод the construction Bofore I proceed to review the It appears to me unnecessary compelled to turn away numerous grous

Hotol WAS. affairs of the undertaking and to to comment upon the figures un-applications in respect of resorva- of the Peninsula

This alone bears ample in tho initial stages, some- roport to you on the results of dor the headings of the Profit tions.

sinco it Blow, tho fact that an what tho business during tho past and Loss Account, inasmuch as testimony to

nature necessary to sink some 600 pilva financial year, I desire to place such headings are, I think, solf establishment of this

with 18 ia inovitablo in and, long-foit want on record the irreparable loss explanatory. I should, perhaps, fulfils

first-class foundation work, a considerable sustained by the Company in the draw your attention, however, to Shanghai death on the 31st of May last of the fact that the balanco of residential hotel. It is therefore poriod had to clapse during which League results are :- the Hon. Mr. A. R. Lowe. Tho Profit and Loss Account, namely the intention of your Board to there was little to show, although late Mr. Lowe, whom to know $855,082.52, at the 31st December, increase the accommodation from much spado work was boing was to eatoen, never failed to 1924, is the nott balance aftor time to time as opportunities undertakon, nevertheless in this give to this Company the full $218,929.44 has been charged in permit, in pursuance of the Com- connection it may interest you to benefit of his wide and valuable rospect of deprosistion. In view pany's policy of improvement know that the system of Franki experience, and in the deliberat of our conservative policy in the whereby, in other instances, in piling operated by the Hongkong ions of your Board his advice-matter of depreciating our build- substitution for the more or loss Engineering & Construction Co. based, as it was, upon knowledge ings, furniture, Oxtures, etc., your out-of-date accommodation now has not only proved exceedingly

well of a varied and practical nature-Board have not deemed it neces- offered by some of our establish- satisfactory but appears to be suited to work of this not only commanded respect but sary on this occasion to propose ments, additions will be made on particularly was induential in a great measure the transfer to reserve accounts lines embodying modern ideas of underground

description, where it is necessary in placing the Company in the of any portion of our profits for hotel construction.

The grounds of the Majestic sound position which it has the past year, more especially no

(Continued on Paga 7.) attained in recent years. It is $250,000 was voted to reserve" out afford ample space for extensions

TO-DAY.

-Router,

Closing Exchange 26, 3, 1/16 Lighting Up-Time 6.41 pm. Birometer Temperature Humidity

3. p.m. 30.21

25.09.

58

2 p.m.

87

Barring these unfortunate con- tracts with the Government we have no reason to feel discouraged-the pubHe for that measure of

The other work we now have in

hand promises, on the whole, to

(Continued