1932-03-18 — Page 19

HOTEL COMPANY'S PROJECTS.

(Continued from Page 5.)

the Company, $10,000,000, now stands completely insued.

Loans socurou by Mortgage, which, at the 31st December last, amounted to $2,009,046.17, have been reduced to the lowest level ex- periensed by the Company during,

the past twelve years,

over, the vonus of the more dane gerous elashes became further ro- moved from the International] Settlement, It was decided not to renow the insurance cover, ond same was permitted to lapae as at the end of February,

Increase of Capital. Tho Repairs and Renewals Ac- There do not appear to be count, as I have previously pointed ther matters arising from a re year to the extent of $48,797.23 and I can usefully comment, but be out, suffered depletion during the view of the accounts upon which your approval is sought to re-fore submitting to you the usual plonish this account out of inat year's profit so as to bring agal the credit balance thereof $100,000.

Bus Services.

to

THE

HONGKONG

BINOCULAR THEFT

FROM CAR.`·

BULLION BROKER

ROBBED.

Interpolate reference to the pur tho back of the hood.

el.

TELEGRAPH.

FRIDAY, MARCH 18, 1932.

BUSY TIMES FOR MINISTERS.

DELEGATES FOR

CONFERENCES.

at

Con-

RADIO BROADCAST

ATTEMPT TO RELAY THE GRAND NATIONAL.

Radio Programame Broadcast by Z. D. W. on a wavelength of 155 metres. (845 K.C.).

Chineso Lecture from the Studio. 5.09-7.00 p.m. Chiness Programme. 0,00-0.20 p.m. The 5th of a Bories of lectures on "Infant Welfare” by Doctor K. S. Shin, M.B., B.3. "The

Sconce of l-beach"

7.00-11.00 p.m. European Pro- gramme.

7.00 p.m. Stock Quotations, Mail Notice, etc.

7.03-7.18 p.m. Philharmonie Symphony Orchestra of Alcina Suite (Handel).

A pair of binoculars belonging to Mr. A. G. Coppin, bullion broker,

London, Mar. 17. was stolen from his ear which was

The Prime Minister announced parked in Chater Road on February fur-23 during the annual race meeting, to-day the provisional list of

de- and at the Central Police Court this legates to the

Ottawa and of stealing the glasses and of caus-be represented practically simul morning a Chinese was brought Lausanne Conferences. before Mr

Mr. Wynno Jones on charges He said the Government had to formal proposal thereon, I will damage to the car by cutting

taneously at three most important Detective Sergeant D. Fitches conferences this Summer-the poses for which the further meet-informed his Worship that the car Disarmament

Conference ings to be held at the conclusion was parked in Chater Road on the Geneva, the Reparations of this meeting have been conven- third day of the races. It was ference at Lausanne, opening in

locked, and the defendant

WAR I am again in a position to com With regard to the proposed in- alleged to have cut the hood. He

June, and the Imperial Con- ment upon continued popularity of creuse in the authorised capital of then inserted his hand and stole ference at Ottawa in July. the bus services uperated by the the Company from $10,000,000 to the binoculars, which wore valued Company. The additional patron-$15,000,000, ahould the resolu- at $150. Enquiries were made age extended to auch servicen dur- tion in that respect, to be later on information received the police ing the year hase produced a antis- submitted to you, he duly passed, found the binoculars at a fruit stall factory Increase In revenue from it is proposed to offer 200,000 of where they had been aold for $20. the two major routes of approxim- the new shares at par to existing At the stall the police also found a ately (10%) ten per cent, over hat year's figures. Comparing

| shareholdera at the ratio of one blanket which had apparently been new share to every five old shares stolen from another car, as well as Fear 1931 with the year 1930, overheid, auch new shares to be taken some tools. 730,000 additional passengers were

up by the 30th June, 1932. carried on all routes last year on x

In reply to his Worship, Mr. As I previously mentioned, the Coppin said it would be necessary duced mileage of 12,000 miles. Company's mortgage indebtedness to have a new back made for hin / Cunliffe Lister, the President of Humorous Song-Fat Fiat Fish.

hood.

the

pend and

be

Any announcement must de

on the claims made upon the services of the ministera dur- ing Summer. The delegation for Genova was known..

would be the Secretary for the The representatives at Ottawa

Dominions, Mr. Thomas,

tile Secretary for Colonica, Sir Philip

the Board of Trade, Mr. Ruucl- man and the representative of the Ministry of Agriculture,

nesa

Subject to Government busi- considerations, the Lord President of Council, Mr. Bald- win, the Chancellor of the Ex- la chequer, Mr. Chamberlain and

the War Secretary, Lord Hall sham, would also attend.

Auch reduction in mileage being at- tributable to

the

stands at a figure just just over utilisation of

The police applied for a week's two million dollars. The espátal formal remand for the owners of larger type buses over routes dur- Ing the rush hours. It is an in- which will neerue to the Company the blanket and the tools to teresting fact that, since the incep-rom the proposed new issue will, traced if possible. tion of the Queen's Rond route in therefore, bring this figure of in- the Autumn of 1928, some 13% debtedness down to

a compara. million

paschgers

been tively negligible quantity. have carried over that route and since January 1928, 6 million passengers over the University route. The figures for the year under review tutal over 7% million passengera for all routes.

In spite of the increased revenue, however, you will readily compre hend that the enhances cust operation consequent upon the des

of

In the circumstances It dremed casential that steps be taken to alter the Articles of for the appointment of alternate Association in order to provide Directors, but it is considered to Interests of the

New York under the direction of Willem Mengelberg. 1435-1430. 7.18-7.46 p.m. Variety.

Sung-A Cottage for Bala.

Gracie Fields (Comedienne), B3403, Organ Solo-Just as Wo Used to Do. Organ Solo-Dream Lover. Song-Zamboanga.

Edward O'Henry, 03428.

Reinald Weerenrath

farck Weber and His Orch. 88431. (Baritone). 1360. Orchestral-Hello! 1930.

Humorous Song-The Empire

Party Song.

Lestio Sarony, 993473. 8.00 p.m. (Local Time and Weather Report), 7.45-8.25 p.m.

A Selection of Claude Debussy's Music played by Leopold Stokowaki and the Philadelphia Orchestra. Nunges (Clouds) (No. 1 from

"Nocturnes").

La Cathedrale Engloutie

7453.

(The Engulfed Cathedral)

would be

(Orchestrated by Stokowski. 7454, At Lausanne, the Government Danses: 1, Danse Sacree 2, Danso Prime

represented by the

Profane. 7455. Minister Mr.

8.25.8.50 p.m. Operatic. Neville Mr. Runciman. Chamberlain, Sir John Simon and Song-The Flying Dutchman-Sentn'e

Ballad (Wagner). Elisabeth Rethberg (Soprano), 1477. Orchestral-Traviata-Prelude (Verdi).

Victor Symphony Orchestra.

25879,

If advisable, and possible, the services might be utilised of Sir

or a representative of the mininion Office-British Wireless.

Carousal.

Peak Hotel Reconstruction.

of Capital proposed and the New to recommending the increase lana of Shares, your Board have in mind the desirability of placing be in the best dertake the finance involved the Company in a position to un-Company that the right to be

the vested in a Director of nominat necrestry recunditioning and de- lng another in his stead during velopment of certain of its pro- temporary absence be restricted to preciated value of the rocal carperties without recourse to accur-Directors holding a material stake Herbert Samuel, Sir Samuel Hoare Song-Don Giovanni (Mozart)-For a renty prevailing during the major portion of the year, coupled w

ed borrowing.

in the Company. The shares. the high prices rult)

ruling for gasuline

which the members of your Board and the Government Taxation im-

at this date hoid or posed thereon, rendered it difficult

total 254,000. Your Board, therer to produce a profit on working,

fore, considered the power to and Foreigners together, working having regard to the fact that us

nominate an Alternate Director in friendly co-operation with one increase in fares was sought. Suc

should be restricted to those another for the general good. cessful exploitation by the Company

members of the Board who hold, of all possible avenues for effect tion will be undertaken at this in their own right respectively ing economies in operation dur-Juneture, having regard to the fact not less than 25,000 shares in the In the Company of necessitate par. a atake

The reconstruction of the Peak Hotel, a matter brought up by a shareholder at the last anal meeting. is under consideration. In this connection I may add that it in highly Improbable that complete scheme of reconstrac

would

nt

represent,

Do-

Mr. Alves' Approval.

ing the year

Mr. J. M. Alves, in supporting. Jus enabled this thint thin side of the Company's activities

said:-am quite in agreement a complete evacuation of the exist-$250,000. It would appear unne with Sir Henry Pollock in his view fo contribute a profit to the in building involving a total loss of comment on

for me to make further to the increasing prosperity of general Working Account for 1931 revenue envering a period estimat-proposed additions to the

the subject of the which. In the circumstances, caned conservatively at two

theShanghat. Considering the restrict Coned area of the International Settle- ho considered highly satisfactory, whilst

years, pany's Articles, having regard to it is highly improbable the fact that, in the best interests ment, and the protection it can A reduction hi gasoline prices whether a modern establishment of the general body of Share-afford to its reafdents in times of since the beginning of this year, incorporating the essentials of holders, the merite of the proposed trouble, as was fully proved dur combined with a reduction appli-nn up-to-date Hotel and entalling amendment are obviously

rable to the cost of tyres and other equipment, renders more favour able the operating prospects of the current year.

Dividends.

np-

the heavy capital outlay attaching parent. to such a project-would attract the volume of patronage and degree of spending power, in what now formally propose that the is essentially a residential area. Report of the Directors and the necessary in order to make the account for the financial year end venture n

share

Per on 200.000 "New" Shares, $60,000; to transfer to Repairs and Renewals Account, $48,797,23; to carry forward to New Arcount. $232.997.11; and I shall be obliged if a Shareholder will kindly second

are yo

ing recent events thero, I am sure that many shareholders will join with me in commending the fore- sight of the Directors in having turned down an offer of six and a half million dollars for our two A Satisfactory Experiment.

properties, which success financially: 31st December, 1931, as present-situated in the very centre of the well As foreshadowed Jast

year rather is your Board Inclined toed, be adopted, and that the fol- business section of Shanghai, and serious consideration hns

been the view that improvements given to the utilisation of the

can lowing appropriations

recom- the value of which must undoubt- to be effected

the Diesel type engine in the

existing mended by your Directors, as fredly increase as time goes on. Com. establishment IS

corporated in the Balance opportunity many's vehicles.

Sheet. Kress made in experimental work modernization commensurate with dividend of 50 cents per share on any, and if tangible evidence is From the bro-permits with a resulting degree of be carried into effect: To pay I have watched with much gratifi- cation the progress of this Com- during the year & decision result the extremely reasonable rates 800,000 "Old" Shares, $489,000; Lo ed to convert one of our buses charged--the latter factor being pay a dividend of 30 centa

needed as to its stability one has from petrol to oil fuel with the prime attraction

but to study the figures presented to-day, hearing in mind the dif- Crossley diesel type éngine. Asi Hotel.

of that

ficulties that had to be faced dur may have been observed from re. cent reporta in the local Press,

Happy Valley Garage.

ing a long period following the de this vehicle was inspected by the

pression of 1025. Speaking for police last month and passed all riven, however, to a scheme for such proposal, whereupon ques should feel indeed reluctant to

Consideration must shortly be

mysel, optimistic un I am of the teats satisfactorily. Since

growing importance of Shanghal, that the extension and development of ions as date the converted vehicle has the Happy Valley Garage

to the Report and Ac entertain any idea of abandoning been in regular service and has nerty.

pro-counts may be raised. functioned most satisfactorily. lo suffer increasing restriction in facilities there,

our establishments there. I would the circumstances, steps are now view of the continued improved

prefer rather to see our properties being taken to effect similar con business experiice in the tran- the adoption of the report and ne- to cater for the business in which in the Northern Port-focated. un Sir Henry Pollock, in seconding they are in such suitable positions varajan to the other vehicles sportation department. which, uti completion, should further requiremonta

counts said:Mr. Chairman and the Company Is envaved--develop- bring about a very considerable nexion with the Company's pro-

in con- Gentlemen,-I have much pleasure ed along modern lines, saving in fuel costs; a further fac- nerties in Shanghal must

in seconding the adoption of

I refer the

particularly to our Astor House tor tending to increase prospects lost sight of. The Astor House report and the statement of ac-site-very close to which as you with regard to the future opera-and Palace Hotels, there continue

counts, and it is unnecessary for may probably know a 22-storied tion of this Department.

to produce an adequate return to say much after the full and building is in course of construc- With regard to the aum of upon the Company's Investment

informative speech which has lon. Gentlemen, such a policy, if. $232,997.11 out the balance of those properties, but considera-Just been made by the Chairman. pursued carefully, will. I am con- Profit & Logs Account, which tion

The following three points, infident, redound with much finan must naner or later be regard to the past year, seem toeial benefit to the Company. With your Directors recommend be ear-devoted to the reconstruction of ried forward to the New Account: one or both of those establish- tion."

me to be matters for congratulathese remarkes I beg to associate

The first is the very as this figure may appear to the ments, Your Hoard's faith in the factory increase in the balance of myself with what Sir Henry has

satis- minds of some Shareholders to Lo high values attaching to both of

junt said, unduly high, I would say that, at the

our Working Account for 1931 properties in question con-over that for 1980, notwithstand-

The motion was unanimously the time your Directors' Report tinsen to be justified notwith-ing the very low rate of and recommendations were formu-standing the disturbed conditions which prevalled during the greater

exchange adopted. inted, the situation at Shanghal in the Northern part, and I think nori of 1931. The second point is ·

appeared sufficiently

on opera-

the

not be

Congratulations,

ty appeared Indicated of conserv-H.K. $6.500,000 was refused by the cent, has paid off all its debentures ing resources against the possible Board during last year. detrimental influences tlon, a lengthy continuance of the disturbed conditions might pro- mote.

Alternate Directors.

ten per cent, on ita Ordinary

harca.

In Strong Position.

Other Business,

Thy Window.

Song-Don Giovanni (Mozart)-Open

Ezlo Pinza (Haan). 1467. Orchestral-La Bohemo (Puccini)-

Fantasia.

Victor Symphony Orch. 36871. 8.50-9.25 p.m. A Concert. Plano Solo-Capricelo in F Minor

(Dohnanyl).

Piano Salo-Valge Oublice (Liszt).

Vladimir Horowitz. 1465, Song-Afton Waters (Burns). Song-Annie Laurie.

1642.

Mary Garden (Soprano). 1480. 'Cello Solo-Intermezzo (Vivaldi). 'Cello Solo-Serenata Napoletana-

(Sgambatf).

Pablo Casals, Song-When You're in Love (Blaufuse-Donaldson). Song-1 Shall Return (Cross-Schipa).

Tito Schipa (Tenor). 1870, Violin Solo-Ruralla Hungarica- Fresto and Molto Vivace (Dohnanyi).

Fritz Kreisler. 9.25-9.55 p.m.

1428.

The entire musical numbers of the 1st Act of "The Pirates of Penzance" (Gilbert and Sullivan) Recorded under the direction of Rupert D'Oyly Carte.

All records in the above European Programmes are kindly supplied by Mezara. S. Moutrle and Co..

9.55-10.30 p.m.

A Selection of Brailowsky's Record- ings kindly loaned by Mir, A. M. Bowes-Smith, Pianoforte Solon.

1. Liebestraum (Liszt). 2. (a) Prelude, Op. 11, No. 10

(Skrjabin)- (b) Etude, Op. 8, No. 12

(Skrjabin).

3. Dance of the Fire Worshippers (do Falla). Concerto in E flat Major for Plario and Orchestra (Liszt).

"Grand National,"

10.30 p.m. the Running Commentary on

An Attempt will be made to relay the

News,

10.50 p.m. (Approx). Rugby Mid-Day Prak 11.00 (Approx:). Close Down. WAR DEBTS ISSUE.

the no-

10

It

(Continual from Panc 1.) Accordingly, the Act in which provlaton was made for the es tablishment of credits in favour of "the Governments engaged in war with United States" began thus:

the enemics of the

"For the purpose of more, ef- fectually providing for it well to mention, in view of the fact that our bus services have

tional security and defence, and uncertain the various rumours current from notwithstanding a very moderate

for prosecuting and grave as to promote a certime to time with regard to this scale of fares, been run at a pro- Wright, seconded by Mr. J. P. Bill was supported by members of

the war On the proposition of Mr. J.F. tain degree of apprehension with Company disposing of Its Shang ft. The third point is the fact Sherry, Mr. W.H. Bell's appoint- Congress in various stages of its Here are the words in which the regard to the prospects of our two hai interests. that a firm offer to that the Wagons-Lita Hotel, in mont to the Directorate was con- passage through the two Houses astablishments in that port for purchase the Astor House and which our Company has an infirmed, and Mr. J. Scott Haraton in the latter part of April, 1917: the current year. The desirabili- Palace Hotels and contents

for terest of about ninety-five per was re-elected to the Board.

Senator McCumber (Chairman Mesars. Percy Smith, Seth and of the Finance Committee) and has effected a distribution of Fleming were re-appointed audi-is probably true that more than a tors on the motion of Mr. F. M. quarter of a million men are go- Turning to the second Resolu-

Ellis, seconded by Mr. G.H. Potts, ing down to death, or being wound- tion to be placed before you at a

this concluding the business. ad or captured, every month dur subsequent meeting this morning.sorted that the Company is in n

in short, it may safely be as. Resolutions Adopted.

Ing the contest. Therefore, whilo At the time of the first cinah in which is in regard to the alterna-strong cash position, which will be

they are suffering to that extent, the Northern Port, your Board lons to the Company's Articles yet further improved by the almost meeting which followed, it was deemed it advisable to effort War...

At the extraordinary general we ought to be mighty liberal in of Association and for which

the expenditure of money when. Risk Insuranca covering

complete elimination of the item proposed by the Chairman, and we take no part in the real battle, your sanction, he

Bought, thono Shanghai properties, and this was amendments, if passed, will affect for Bank Interest, after the new seconded by Mr H. Lo that the which to-day is the battle of the effected in respect of the month tons of inconvenience which have year. It is interesting to hear to adopted. and the motion was

necessary rectification to situa-been taken up in

Issue of

two

million of dollars has four rosolutions authorising the

American of February at a cost, for both arisen in the past in the conduct that the Board received an offer of unanimously carried.

middle of this issue of $5,000,000 of now capital

From France. the Astor House and Palace Ho- of the Company's affairs.

Sonatar Kenyou: "I want to tels, of some $35,000. During the

say this for myself, that I hope Up to the present time Directors, the Astor House and Palace Hotels half million dollars for Bix. and

one of these loans, if we make it, earlier term of the disturbed when leaving the Colony tempor- during the past year. Personally its approval of the resolution for will never ask that it be paid. We The meeting similarly signified will never be paid, and that wo times, the situation, more parti- arily, either resign from the Board I am confident that the Interna- the alteration to the Articles of owe more to the Republic of cularly in view of the proximity or apply for leave of absence. tional Settlement at Shangani lll Association for the introduction France for what it has done for us of the Astor House to the most in consequence, over many periode continue to increase in prosperity, of alternate directors, after it had than we can ever repay. I never seriously affected area, in your in the past, the Company's buel-soeing that it is such a splendid been proposed by the Chairman want to see this Government ask Board's opinion, fully warranted ness has perforce had to be con example of the magnificent results and seconded by Mr. N. V. A. France to return the loan we make the precautionary insurance mea- trolled by a Board very restricted which can be achieved by Chinese Croucher. aure undertaken, As later, how in mombership.

to her."

Shanghai War Risks

la

the

No Repaymək”.

We have received a

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They are now showing in new shapes at reduced prices.

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and most economical in wear,

Call and let us show them to you.

WM. POWELL LTD.

.

Specialists in Gentlemen's Wear. 10, ICE HOUSE STREET.

NEXT CHANGE AT THE KING'S.

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Congressman Mann: “I think

it is our highest duty in the mak- ing of war to give aid to those who are fighting the enemy against] whom we have declared war."

Congressman Fordney: "Their aid them in the best way possible (the credits') only purpose is to to fight our battles across the sea

Congres without calling upon our

our mento

Congressman Mondall: "We can (by the credits) offectively and in the Immediate future, arm,| strengthen and support those who are, since our declaration of war, fighting our battiap 2

COMING TO THE QUEEN'S Metro-Golden-Havera COLORTONE REVUE

BABY FOLLIC

Cathetým TECHNICOLOR,

LAURE!