1926-04-08 — Page 7

CHINA PROVIDENT.

(Continued from Pago 1).

In addition to the matters which fall under the heads I have al- ready mentioned, there are many | other transactions which require further investigation.

Loans have been made on "vari-i ous securities, for example, bor- rowings by Messrs. Shewah, Tomes, the accounts and valua tlona calculated to December 31st, 1925, showing the firm to be in-f debted to the Company in a sum of $260,000—the security being partly shares and partly goods~~ | with an estimated excess of in- debtedness over security of $77,000,

4

Thore is a total of roughly $20,000 outstanding on promissory notes without any security what- Dever", And large sums are due ...10 the Company for storage

charges in some cases going back; nearly 10 years. We cannot, of] course, expect to recover all at this lale date.

ESTIMATE OF LOSSES.

Without going more fully into

auditors and legal expenses incurred to date in connec- "tion therewith,”

(b) That three shareholders to

be nominated at this pro-

LOCAL WEDDING.

LOWCOCK-KOTEWALL.

sont meeting be appointed to At St. John's Cathedral' yester~ aat with the Consulting day afternoon a wedding of con- Committee in completing

the investigations of the siderable local interest took place Miss Mabol Kotewall, Company's Anancial affairs when

and to report to the share-daughter of Mr. S. Kotewall, of 67, holders the result of such Conduit Road, was married to Mr. Investigations when com pleted,

Henry Lowcock, son of Mr. G. Low-

Powell.

(c) That the Consulting, Com-cock, of 15 Babington Path. Tho "mittee be authorised to em- oficiating clergymen were the Rev. ploy auditors and lawyers. R. Lindsay and the Rev. T. B in connection with such further investigations of

financiall

The bride who was given away the Company's affairs and that the costs by the Dr. R. H. Kotewall, was and expenses Incurred charmingly attired in a dress of thereby be borne and paid wide circular flounce of silver lace. white crepella appliqued with a by the Company.' (d) That a qualified accountant The beautiful train was made of be employed by the Com-the same material, and was also pany to assist and advice appliqued with silver lace.

Her

the present staf of the veil of tulle illusion, was finished

Company.

MR. SHEWAN'S SPEECH,

J.

Air. Shewan said:-Gentlemen,

off with a diadem of pearls and orange blossoms, and she carried a shower bouquet of white roses and lilies. 4

Miss Malsic Kotewall, the littlej You have heard the statement flower girl wore a dress of very fine the position, the preliminary state-made by Mr. Well on behalf of the shadow lace, finished off with dain- ments show that loans on shares Consulting Committee arising out ty hand-made flowers.

Her hair and property are in excess off the investigation they have alwas similarly trimmed.

Miss Bobby Kotewall, ns page- security to the extent of approxi-ready carried out, based on the

we have supplied boy in the style of Louis XIV., wore mately $1,750,000, but we sincere-information ly hope that the full loss will not them with up to date, and as you costume of white roman satin, amount to this sum In addition, will appreciate, from that state-lined with silver tissue.

Miss Phoebe Kotewall, the maid there are the smaller items such ment, only a preliminary Investiga- as bad debts, unpaid interest, etc., Lion has taken place up to the of honour, was dressed in white allowance for which will have to present. We trust that a complete georgette, trimmed with silver and be made, and we place the losses and thorough inquiry and investi-pale blue embroidery. to he met at an outside figure ofgation will show a substantially $2,000,000. This may

mean a brighter position than is at present "drastic adjustment of the issued indicated by Mr. Weall's state

capital or possibly reorganisa- ment.

Hon of the Company. As to this, The General Managers desire it

Her ban-..

deuu and bouquet wore made of forget-me-nots,

Misses Doris and Helen Kote- will, the bridesmaids, were' dressed in pale pink ninon, trimmed with. bands of silver. They also wore

it is impossible to form an opinion to be clearly understood that they handeaus to match the dresses of until a more complete investiga-welcome the appointment of a silver and pink tissue, and carried tion has been carried out.

pecial investigating committee, bouquets of pale pink roses and

Mr. George Zimmern was "best man."

Following the ceremony a recep- tion, attended by numerous friends, was held at 57, Conduit Road,

At the present moment I am not and are only too pleased to, place sweets peus.. prepared to suggest to what exall materials they may require at tent the officers of the Company their disposal, and to give them all can be held liable for the losses Information they may desire. incurred, It would be undesir- I will now deal with some of the able, in your Committee's opinion.ints raised in Mr. Weall's state- to attempt to do so until neces- ment. sary investigations have been completed and all the facts known.

PROPOSALS FOR FUTURE. The foregoing gives you as con- cisely as possible the present posi tion of the Company, and I now propose to deal with the imme- diate future. 1 suggest that as it

NEW ISSUE OF CAPITAL

The honeymoon is being spent. in Shanghai. The bride's going, awny dress was of silver grey maro-

lined The General Managers always caine

with pale pink] onsidered that it was their duty charmeuse She wore a grey bat to assist shareholders in taking to match the dress.

their shares and were always willing to extend the time if a reas Jonable excuse were given. They

is impossible for a large body to did not consider that they should deal with the situation, en have endeavoured to make money asked to nominate three represen

pul of some shariholders for the tatives from your number to re.enefit of other, shareholders,

I do not understand the refer-)

present you and to co-operate with the members of the present Connce to issuing shares to certain

ARMY TRANSPORT.

TESTING MECHANICAL

UNITS.

1 Rugby, April 7. sulting Committee, to continue the sued, except to those who

shareholders. No shares were In this year's military training} investigations and to report to you

were on Salisbery Plain, special im- at a later date, together with any

intitled to them.

portance will be attached to thei I know. no reason why interest manoeuvres, which will be devot recommendations they are able to make as to the future of the Com-was not charged, but this mattered entirely to the employment of pany. To be of practical use, this can be gone into by the committee mechanicalised units. Committee should have your au appointed.

It is desired to test thoroughly

thority to employ auch expert I do not think that there was now fhr horse transport can be knowledge as they may deem any such loss as $100,000 in the dispensed with and to discover necessary. They should also be lotment of these shares. Cue what is the best type of heavy empowered to engage, femporart: Farge shareholder was givṛy a ra- mechanical-transport for general ly or permanently, such persons ther longer extension than usanl. use. It was recently explained

Official Distributors of Goverment

Pattern Muzzles.”

THE

L.C.LTD. IMPROVED

DOG MUZZLE

$1.50

ALSO OBTAINABLE AT

-

THE PEAK STORE.

LANE, CRAWFORD, LTD.".

That Four Letter Word

Synonymous with Good Health

M-I-L-K

The Wonder Food

Include a liberal supply in the daily "diet. It Pays!

The Dairy Farm, Ice & Cold Storage Co., Ltd.

Columbia Neuess RECORDS

process

Lener String Quartet

as they deem necessary either for he engld not get the mens by the Minister that the required Beethoven Quartet in C Sharp Minor

purposes of this investigation of without communicating with, bis type of mechanical transport must for the proper conduct of the vifo in England, but this did got be suitable both from the mili- Company's business. In this secasion. any loss at all to the Com-tary and from the commercial connection the investigating acny, as if the General Managers viewpoints, so that it could be countants have called our atten- ad refused to give him this exten- manufatured in large numbers tion to the necessity of having inn, he would simply have sold and cheaply. Designers are al- more assistants for the godown is rights to the new shares at a ready at work on various types part of the business, and your proft to himself, and this remark of transport and these will un- Committee consider it most durir upplies to all other shareholders, dergo searching trials when built. able to employ for a limited period ad the Company would not have British Wireless.

a qualified accountant to assist in nade the $100,000 in any case. the completion of the investiga As a matter of fact, the Company tion and to instal an efficient and

now hold the shares which former USED MASTER'S CAR.

up to date system of accounting.ty stood in the name of that share-

I would like to give you a few holder, as he failed to pay the final

words of encouragement before I

alt down. Your Company has ex-

eclient properly at West Point and

an excellent godown business, which if properly managed, could.)

all. I cannot see that there was

y failure in duty in this case by

the General Managers.

I do not, understand the state-

CHAUFFEUR'S BARLY MORNING TRIP"

Referred to as being a perfect

in

I feel sure, give shareholders animent that the committee and sharenuisance by the prosecuting adequate return on their invest-holders were fed to believe that the police officer, a chauffeur ment, and therefore ask you to whole of the 400,000 shares had in private employment, who used his give the Committee your whole-fact been taken up, as the printe master's car for public' hire, was hearted co-operation to the end statement of gecount dated 18th ined $60, or, in the alternative, that we may once more put the April, 1025, shows that there were four weeks hard labour, in Mr. Company on a sound and paying 390,247 shares on which $2.50 R. E. Lindsell's Court to-day, basis. It will be necessary to had been paid. At the meet- It was stated by Inspector ask you to exercise patience and ing of the 30th April, 1924, the Grant that. the defendant, who to attend shareholders' meetings Chairman did not intend to lead was employed by a Chinese mer- chant of Bonham Strand, was which may have to be numerous shareholders to believe, that the In order to keep you fully posted million dollars cash had already seen by Sergeant Dyer to make na to progress made, and I there-been received, but that the Con in the restaurant quarter, and several trips between West Point, fore ask you all to take a live in-pany's resources had been strengthe central district early this terest in the affairs of the Com-thened by the increase of capital morning. When arrested at 3.30 to that extent, as it subsequently in the morning he had two pas- I will now read you the pro-for all practical purposes, was

sengers, whom he was taking back to town for dollar.

рапу.

posals on the agenda, after which

I believe Mr. Shewan wishes to address you.

MORTGAGES.

r.

This was a matter for the dis- Mr. Weall then read the follow-cretion of the General Managers, ing resolutions,

and they followed the advice of PRINCESS VICTORIA. (a) That the Company confirms the Company's Manager, the Intel

the measures already takon Mr. Tayler,

who

had

had

Ten Parts-Five Records -

(In Art Album)

Beethoven Quartet in E Flat

Eight Parts-Four Records

(In Art Album) AT

ANDERSON'

Hot Water Systems

-installed or or

repaired.

Estimates and Specfications

upon application..

C. E. WARREN

& CO., LTD.

CHINA BUILDING (Opposite Queen's Theatre)

TROUBLESOME COUGHS. can be speedily relieved by using. PINE TAR AND HONEY SYRUP. Safe and Reliable for Children or adults,

London, April 7.

To be obtained from→→

by the Consulting Commit-many years' experience of pro- SATISFACTORY PROGRESS. tee with reference to the porty dealings in this Colony. Investigations made by them It will be realised that to get a into the financial position of high rate of interest the margin the Company and authorizes must be small. With regard to payment by the Company of

11

(Continued on Page 18).

A bulletin ways that Princess THE COLONIAL DISPEN ® ARY

Victoria progressed satisfactorily during the day.--Router.

Tel. C, 1877.

14, Queen's Road, C.

Powell

Wm

Telephone C. 4578

THIS

SEASON'S

RAINCOATS

Are now showing in many UP-TO- DATE Styles. Our range includes such a choice of materials and SIZES that every taste and figure 'cau bo snited-

Agents For

BURBERRY

and NICHOLL'S Celebrated Raincoats

OUR RAINGUARD

MACKINTOSH at $21.50

-is extremely light (19 ozs.)-wonderfully strong, and will withstand the keenest test.

(Other qualities $14.50 & $35.00 with or without belt)

These are in stock in all:

Qualities from

Also

$55.00

GABERDINES .$39.50

“KELTIC”.

WATERPROOF BOOTS. and SHOES

(New stock just arrived)

INSPECTION INVITED

THE CHAMPAGNE OF KINGS

POMMERY

THE KING OF CHAMPAGNES

BEWARE OF IMITATIONS

MAKE CERTAIN OUR NAME 13 ON THE BOTTLE

Sole Agents.

CALDBECK, MACGREGOR & CO., )

.LTD.

Incorporated under the Compones' Ordinances of flångkong. -

15, Queen's Road, U.

Telephone Central 75.

A REAL SAFEGUARD

AGAINST

.

ACCIDENTS & SICKNESS

A POLICY WITH

CHINA UNDERWRITERS, LIMITED.

HEAD OFFICE:-

ST. GEORGE'S BUILDING, HONGKONG,

TEL. 0. 1121-2

MORRIS Cars

REDUCED PRICES, BETER VALUE

(BRITIANS MOST POPULAR LIGHT OAN)

MODELS IN STOCK

Roadster MORRIS-COWLEY (26ZATEN WITH DICKEY)

MORRIS-OXFORD

Touring

NITT HONGKONG FRICES. £2150.

(4 SEATER 2 WHER Brakes) £237.10.0. Touring (4/5 BEATER-4 WHEEL Brakes) £320, 0, 0.

THE HONGKONG HOTEL GARAGE (THE HONGKONG & SHANGHAI HOTELS LTD.)

SERVICE CAR SALES

Phone C 4759

ACCESSORIES)

Phone C4062

PARTS