1926-01-27 — Page 7

LAND INVESTMENT COMPANY.

TO-DAY'S MEETING OF

SHAREHOLDERS.

The annual meeting of the Hong- kong Land Investment and Agency Company Limited held this morn-; ing was largely attended.

Mr D. G. M. Bernnyd ocupled the chair, and there were nisai present: Sir Paul Chater, Pater) E Robert, Mr. H. P. White. Mr. A. H. Compton, Mr. A. S. Gubbay (directors), Mr. L. S. Greenhill, (Secretary), Messrs, H. T. Bagram, E. M. Raymond, J. Arnold, Capt. A. C. Kennedy, H. Birkett, R. L.

Bridger, A. Murdock, P. S. Cassidy,

T. G. Well, R.M. Austin, P. C. Potts, P. M. N. da Silva, J. E. Joseph. H. Ruttonjee, D. V. Sten- venson. Frank Austin, A. S. Nin Ho Kom-tong, Kelly Sayen, J. M. Alves, M. Henderson, D. J. Purtra.) F. Pollock, D. Lyon, F; G. Agabe. A. M. da Silva, G. A. Ribeiro, R. E., Desai, Laurel, A. J. C. Rogla, P. M. Pereira, G. H. Piercey, C.-1. Rocha, C. S. Remedios, E. E. O mund, E. B. C. Hornell, O. F. R beiro, D. MacMurray, F. M. E E. Abraham, E. A. Siman, J. P. Grose, G. Puncheon, P. A. V. Ri beiro, G., Carvalho F. Hender- son, R. M. G, Silva, J. M. G. da Sousa. B. C. Randall, J. P. Wrigh, G. E. V. Osmund, J. Baptista, E., Sadick, DJ. Laton, N. L. H. Rail! ton. and A. H. I'ults, holders).

"

4share-

CHAIRMAN'S SPEECH. The Secretary having read the, notice convening the meeting,

The Chairman said:-Gentle mén. The report and statement! of accounts, together with the auditors' report, have been in your hands for some days d with your permission. I propo to follow the usual procedure and take them as read.

The balance of Profit & Los Account this year amants to only $1,043,016.15." conipared with $3,188,237:51 for the previous) 3 ear. But this latter amount in- éluded large profts un sales of property and shares. If these are eliminated, it will be found that the net revenue amount# h $1,023.216.15 in 1925 compared t $986,449.55 in 1924, or an ihereas of $36,766.00 in 1925,

lu his speech at this meetie,

a year ago. my predecessor tala

you that no sales of property ha!!

been effected since August, 1921 and added that the existing stal of the property, market did no indicate that the Company would find sales 18 material source o profit in 1925. This forecas proved entirely correct and th only sale made daring the year was of a house at the Peak, could not of course, be expucto that the property boom, woul last many years and your Direc lors were quite prepared for the reaction, which has set in...

A

the

Turning now to, the aecourt: Accounts Receivable at $573,868.5 is high compared to $268,896.57 on 31st December, 1924. Both these figures include the sum of $225,000 due in respect of sale of some Praya East Reclama- tion Rights.. As a rule, a mort- gage is executed for such a sale and the amount included under Amount Advanced On Mort- mges" In this 'Instanet how-

THE HONGKONG TELEGRAPH,

LATEST HOME PICTURES.

The 35,000-ton battleship Rodney, launched by Princess Mary, gling down to the water. Under the Washington Treaty and H.M.S. Nelson are thealy battleships Britain may build until 1931. Each will carry nine 16-inch guns,

With plenty of snow upon the ground, Loch Lomond, where this picture was taken, was assured of real old-

fashioned Christmas.

SECONDERS SPEECH.

report and accounts to the meet-

ever, no mortgage deed was drawn Mr. T. G. Weall:-Gentlemen, ing; which expressed its unanimous up, but we retained the documents feel sure that in seconding the approval.

is a

BUSINESS MATTERS,

ne security. This account also motion from the Chair, I have your includes rents due and interest on unanimous, support, The Chairm mortgages. The former are about just informed as that in spite cassidy, spended by Mr. E. AL On the proposition of Mr. P. S.) normal, there

of no profit from sale of property subsian- tial sum outstanding in interest shares, the act revenue show Raymond, Mr. A. H. Compton and Your Directors have considered an increase of $1,766.60 for Sir Robert Ho Tung were re-elected these outstandings carefully and year. Under conditions that have to the Board of Directors. are of opinion that they will all been ruling in this Colony for the Mesra, Percy Smith, Seth and he paid but that, in any ense, the past six months I consider this Fleming and Messrs. Linstead and Becurity is adequate to cover them, result in be highly satisfactory, Davis were re-elected auditors at An interim dividend of $2 per Although all of us like to receive the remuneration of $750 each, on share has already been mid; and bonuses when conditions parmi the proposition of Mr. J. T. Engram, your Directors recommend a final the, Directors are to be sincerely seconded by Mr. R. I., Helger. dividend of $2 per share absorb-coniralalated upon the Balance closing the meeting, the Chair-

ing $480,000 pay a bonus to staff Short laid before you to-day Rd man anunced that dividend war- of $8,000 and carry forward the distribution they have been arts would be ready to-morrow, $848,140.53, which includes able to recommend. With these

$773,124.38 brought forward from few remarks, gentlemen, I have"

the previous year. Last year we much pleasure in seconding the

able to pay a bonus of $2.50 per adoption of the report and state- EUROPE'S PROBLEMS. share in addition to this dividend, [ment of Accounts as circulated. but we had substantial profits from

Mr. Kelly Saree-I should like!

TO MEET.

sales of property and shares to to say a few remarks on behalf of BRIAND AND CHAMBERLAIN draw upon, which we have not shareholders of this Company, I got this year. The carry. for-must congratulate the Directors ward will be $75,010.15 larger, that in these hard times, you have and this your Directors consider been able to distribute the usual!

London, Jan. 26, only prudent In view of our large dividend making, in all. $4 for the forthcoming conversations between Importance is attached to the outstandings, although, as I have rear 1925, knowing that we ate M. Briand and Sir Austen Cham- already said, they regard them as passing through a most dileult berlain who is expected in Paris Bound.

perlod for the Colony with no liquid from the Riviera on Jan. 27. It is I do not think, Gentlemen, that cash. But we hope soon that it presumed that they will discuss there are any other matters that will come and that the sun will German disarmament, the admis- call for explanation and I now jahine again and that the Directers sion of Germany into the League, beg to propose the adoption of will take us into their considera the strength of Allied forces In the report and accounts, and whenition in the coming year and give the thineland, and probably the this has been seconded I shall be as the usual bonus as they have question of a postponement of the glad to answer to the best of my done in the past.

i preparatory Disarinament Confer-

ability any questions which share As there were no questions, the ence at Geneva; which at present holders may wish to ask.

Chairman put the adoption of the is fixed for February 15.-Router.

WEDNESDAY, JANUARY 21, 1926.

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"Gentlemen's

Tailors AND Outfitters

We have removed these two departmenta from the Hongkong Hotel Building to our MAIN STORE

at 12, Des Voeux Road, Central.

The entrance is by the main door, with an immediate turn to the right. There is also a

Separate Entrance

in the passage between Powell's and the New Exchange Buildings. Structural altérations have been carried

out, making this- Department Self Contained, eusuring every comfort.

11

NEW GOODS From London now

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Meals at all hours from 8 a.m. to 12.00 midnight

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Proprietor.

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