1932-03-18 — Page 7

HOTEL COMPANY'S PROJECTS.

(Continued from Page 5.)

the Company, $10,000,000, now 'slands completely issued.

Loans secured by Mortgage, which, at the 1st December last, amounted to $2,000,046.17, have been reduced to the lowest level ex- perienced by the Company during the past twelve years,

over, the venue of the moro dan- gerous clashen became further ro- moved from the International Settlement, it was decided not to und renew the insurance cover name was permitted to lapse ns at the end of February.

THE

HONGKONG TELEGRAPH. FRIDAY, MARCH 18, 1932.

BINOCULAR THEFT FROM CAR.

BULLION BROKER

ROBBED.

A pair of binoculare belonging to Mr. A. G. Coppin, bullion broker, was stolen from his car which was parked in Chater Road on February fur.3 during the annual race meeting, and at the Central Police Court this morning a Chinese was brought of stealing the glasses and of caus- before Mr. Wynne Jones on charges Ing damage to the car by cutting the back of the hood.

Increase of Capital, The Repairs and Renewals Ac-

There do not appear to be count, as I have previously pointed ther matters arising from are out, suffered depletion during the view of the accounts upon which year to the extent of $48,797.23 and I can usefully comment, but bo- your approval is sought to re-fore submitting to you the sun! plenish this account out of last formal proposal thereon, I will year's profit so as to bring again interpolate 'reference to the pur- the credit balance thereof toses for which the further meet- $100,000.

Ingen to be held at the conclusion of this meeting have been conven- ed.

Bus Services,

BUSY TIMES FOR MINISTERS.

DELEGATES FOR

CONFERENCES.

London, Mar. 17.

The Prime Minister announced to-day the provisional Hat of de- legates

to

tho Ottawa ond

Lausanne Conferences.

Ho anid the Government had to taneously at three most important be represented practically simul-

Dotective Sergeant D.. Fitches conferences this Summer-the Informed bis Worship that the car Disarmament Conference nt was parked in Chater Road on the Geneva, the Reparations Con- third day of the races. It was

|ference at Lausanne, opening in defendant locked, and the

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 crease in the authorised capital of then inserted his hand and atole ference at Ottawa in July. the bun services operated by the the Company from $10,000,000 to the binoculars, which were valued Company. The additional patron- $15,000,000, should the resplant $150. Enquiries were mado

de- Any announcement must and pend age extended to such servicea dur-tion in that respect, to be later on information received the police

on the claims made tipon In the year have produced a antis- factory increase in revenue from submitted to you, be duly passed, found the binoculars at a fruit stall the services of the ministers dur- The delegation for it is proposed to offer 200,0ud of where they had been sold for $20. ing Summer. the two major router of approxim-the new shares at par to existing at the stall the police also found a Geneva was known. ately (10%) ten per cent, over laut shareholders at the ratio of one blanket which had apparently been year's figures. Comparing the year 1931 with the year 1930, overheid, mich new shares to the unken me tools.

new share to every five old shares stolen from another car, as well a 730,000 additional puesengers were

up by the 30th June, 1982. carried on all routes Inst year on a reduced mileage of 12,000 miles. auch roduction in mileage being at Tributable to the utilisation of larger type buars over routes dur- ing the rush hours, 11 is an in- teresting fact that, since the incep tion of the Queen's Road route in the Autumn of 1928, some 13% million passengers have been carried over that route and ainee January 1928, 6 million passengers over the University route. The figures for the year under review total over 711⁄2 million for all routes.

passengers

As I previously mentioned, the Company's mortgage indebtedness stands of a figure just just over two million dollars.

The capital which will neerue to the Company from the proposed new Issue will therefore, bring this figure of in- debtedness down to a compara- tively negligible quantity.

In reply to his Worship. Mr. Coppin sold it would be necessary to have a new back made for life

bood.

The police applied for a week's formal remand for the owners of the blanket and the tools to traced If possible.

be

in

be

The representatives at Ottawa would be the Secretary for the Dominions, Mr. Thomas, the Secretary for Colonies, Sir Phillp Cunliffe Lister, the President of

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

Subject to Government busi- MOBA considerations, the Lord President of Council, Mr. Bald- win, the Chancellor of the Ex- the

chequer, Mr. Chamberlain in

and circumstances it Penk Hotel Reconstruction. Ideemed essential that steps

the War Secretary, Lord Hail- taken to alter the Articles of sham, would also attend. In recommending the increase Aranciation in order 10 provide At Lautanone, the Government of Capital proposed and the New for the appointment of alternate would be represented by the Inaue of Shares, your Board have Directors, but it la considered to Prime Minister Mr. Neville in mind the desirability of placing he in the best interests of the Chamberlain, Sir John Simon and the Company in a position to un-Company that the right to br

Mr. Runcimati, dertake the finance involved in the vested in a Director of nominat- Becessary reconditioning and de-ing another in his stend during velopment of certain of its pro-temporary absence be restricted to perties without recourse to Arenr- Directors holding a material stake ed borrowing.

In the Company. The shares. which the members of your Board at this date hold or represent, total 254.000. Your Board, thorer- fore, considered the power to nominate an Alternate Director Rhould be restricted to those members of the Board who hold

RADIO BROADCAST

'ATTEMPT TO RELAY THE

GRAND NATIONAL.

Radio Programme Broadent by 2. B. W. on a wavelength of 855 metres. (845 K.Cs).

Chinese Lecture from the Studio.. 6.00-7.00 p.m. Chinese Programme. 6.00-0.20 p. The 5th of a series of lectures on "Infant Welfaro" by Doctor K. S. Shin, M.D., B.S.~~"The. Bcience of Ill-health.'

7.00-11.00 p.m. European Pro-

grammo.

7.00 pm. Stock Quotations, Mall Notice, etc.

7.03-7.18 p.m..

Ajelna Sulte-(Handel). Pidlharmonie Bymphony Orchestra of New York under the direction of Willem Mengelberg, 1436-1436, 7.18-7.45 p.m. Variety. Song-A Cottage for Sale.

Gracle Fielda (Comedienna), B8463. Organ Solo-Just as We Used to Do.

Edward O'Honry. B3428.

Rolnold Warrenrath Orchestral-Heilot 1080.

(Baritono)." 1380.

Marek Weber and His Orch. 83431. Ilumerous Song-The Empire Humorous Song-Fat Flat Fish,

Party Bong.

Leslie Sarany. 18473.

Organ Solo-Dream Laver. Song-Zamboanga,,

8.00 p.m.

(Leeni Time and Weather Report). 7.46-8.26 p.m.

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

"Nocturnes"). La Cathedrale Engloutio

7463.

(The Engulfed Cathedral) (Orchestrated by Stokowski. 7464. Dansen: 1, Danio Sacres 2, Danse

Profano. 7455. 8.25-8.50 p.m. Operulle. Song-The Flying Dutchman-Sento's

Ballad (Wagner). Elisabeth Rethberg (Soprano). 1477, If advisable, and possible, the Orchestral-Traviata-Prelude (Verdi). Victor Symphony Orchestra. 35879. services might be atilined of Sir Herbert Samuel, Sir Samuel Hoare Song-Don Giovann! (Mozart)-For a

Carousal. or a representative of the Do-Song-Don Giovanni (Mozart)-Open

Thy Window.

Ezio Pinza (Bass), 1467. Orchestral-La Bohema (Puccini)-

Fantasia.

mininton Ulke.-British Wireless.

and Foreigners together, working in friendly co-operation with one another for the general good.

In spite of the increased revenue, hows.wer you will readily compre- hend that the enhanced cost of operation consequent upon the des preciated value of the oral car. rency prevailing during the major portion of the year, coupled wan the high prices raling for gasoline The reconstruction of the Peak and the Government Taxation im- Hotel, a matter brought up by a posed thereon, remlered it difficult shareholder of the last annual to produce a proft on working, meeting, is under consideration having regard to the fact that no In this connection I may add that Increase in fares was sought. Sue- it is highly improbable that cessful exploitation by the Company complete scheme of reconstruc of

all possible avenues for effect- tion will be undertaken

Mr. Alves' Approval, in their own right respectively at this not less than 25,000 shares in the ing economies in operation dur Juncture, having regard to the fact

Mr. J. M. Alves, in supporting. ing the year has enabled thin

at par, a stake in the Company of said:-1 μm that Lie would

quite in agreement necessitate side of the Company's artivities complete evacuation of the exist-res

$250.000, It would appear unne with Sir Henry Pollock in hin view to contribute

Cessary for me to make further us to the increasing prosperity of profit to the

In building involving a total loss of general Working Account for 1941 revenue covering a period estimat proposed additions to the Coned area of the international Settle- comment on the subject of the Shanghai. Considering the restrict- which, in the circumstances, cand conservatively at two be considered highly satisfactory. whilst it is highly Improbable the fact that, in the best interrats afford to its residents in times of years, pany's Articles, having regard toment, and the protection It can A reduction In gasoline prices whether a modern establishment of the general body of Share-trouble, as was fully proved dur since the beginning of this year; incorporating the essentials of haldura, the merits of the proposeding recent events there, I am aure combined with a reduction plan up-to-date Hotel and entailing amendment are obviously Rp. cable to the cost of tyres and other equipment, renders more favour-

Dividends. able the operating prospects of the current year.

A

A. Satisfactory Experiment.

foreshadowed As

Just

yeur, serious consideration ban been given to the utilisation of the Diesel type engine in the Com- pany's vehicles.

testa

EL

parent.

From the pro- permits with a remilting degree.ofborated in the Balance Sheet. I have watched with much gratifi.

rates

of

being

that | N

As

Hotel.

Happy Valley Garage.

Victor Symphony Orch. 35871. 8.50-9.25 p.m. A Concert. Piano Sola-Capriccio in F Minor

(Dohnany!).

Piano Solo-Valzu Oublice (Liszt).

Vladimir Horowitz. 1455, Song-Afton Waters (Burns).. Song-Annie Laurie.

Cells Solo-Intermezzo Vivaldi),

Mary Gorden (Soprano). 1480. 'Cello Solo-Serenata Napoletanu

(Sgambati).

Pablo Casals, 1642. Song-When You're in Love (Blaufuss-Donaldson). Song-I Shall Return (Cross-Schipa).

Tito Schipa (Tenor). 1479. Violin Solo-Ruralia Hungarica-

Frrato and Molto Vivace (Dohnany!).

Fritz Kreisler. 1428. 9.25-9.55 p.m.

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 suppited by Morera, S. Moutrle and Co.

9.55-10.30 p.m.

A Selection of Brailowsky's Record- inga kindly loaned by Mr. A. M. Bowen-Smith. Pianoforte Solos.

:

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

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

(Skrjabin).

(Skrjabin).

the heavy capital outlay attaching

that many shareholders will join to such a project would attract

with me in commending the fore- the volume of patronage and

sight of the Directors in having degree of spending power, in what now formally propose that the turned down an offer of six and

essentially a residential aren, Report of the Directors and the

a half million dollars for our two necessary in order to make the account for the financial year end-properties, which are so well venture success financially; ed 31st December, 1931, as present situated in the very centre of the Father is your Board Inclined to ed, be adopted. and that the fol- business section of Shanghai, and appropriations the view that improvements can towing

recom-the value of which must undoubt- be effected to the existing mended by your Directors, na in-edly increase as time косм on. establishment al opportunity

carried into effect:-To pay n xress made in experimental work modernization commensurate with go0,000 "Old" Shares, $480,000; to needed as to its stability one has

dividend of 60 centa per share on

cation. The progrosa of this. Com- during the year a decision result the extremely reasonable

pany, and if tangible evidence is ed to convert one of our buses charged-the latter factor from petrol to oil fuel with the prime

dividend of 30 cents per but to study the figures presented attraction

share on 200,000 "New" Shares, Crosaley diesel type engine.

$60,000; to transfer to Repairs and ficulties that had to be faced dur to-day, bearing in mind the dlf- may have been observed from re-

Renewals Account, $48,797.23; toing a long period following the de- cent reports in the local Press,

carry forward to New Account,pression of 1925. Speaking for this vehicle was inspected by the police last month and passed all kiven, however, to a scheme for such proposal, whereupon ques

Consideration must shortly be and I shall be obliged myself, optimistic as I am of the

if a Shareholder will kindly second

growing importance of Shanghai, antiafactorily. Since that the extension and development of lions as

I should feel indeed reluctant to date the converted vehicle has the Happy

to the Report Valley Garage pro-eunts may be raised.

and Ac-entertain any idea of abandoning been in regular service and has perts, functioned most satisfactorily. suffer increasing restriction in the facilities there.

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

prefer rather to see our properties in the Northern fort--located as being taken to effect similar con- business experince in the tran- the adoption of the report and ac- to cater for the business in which Sir Henry Pollock, in according they are in such suitable positions version to the other vehicles sportation department. which. on completion, should Further requirements

counts said Mr. Chairman and the Commany is enrared-develop- bring about a very considerable nexion with the Company's pro- in seconding the adoption of the particularly to our Astor House in con- Gentlemen.--I have much pleasureed along modern lines. 1 refer saving in fuel costs, a further fac-perties in Shanghat must not boreport and the statemeat of ae-site-very close to which as you tor tending to increase prospects lost sight of. The Autor House counts, and it is unnecessary for may probably know a 22-storled with regard to the future opera and Palace Hotels there continue me to say much after the full and building is in course of construc- tion of this Department.

to produce an adequate return informative With regard to the sun

of upon the, Company's investment just bees made by the Chairman. pursued

speech which hastion. Gentlemen, such a pulley,

if $232.997.11 out of the balance of in those properties, but considera-

carefully. will. um con- Profit & Loss Account, which tion. must sooner

The following three points, infident, redound with much finan or later your Directors recommend be car devoted to the reconstruction of me to he matters for congratula- these remarkes I beg to nesociate be regard to the past year, seem to elal benefit to the Company. With rled forward to the New Account: one or both of those establish- tion. The first is the very

antis an this figure may appear to the menta. Your Board's-faith in the factory Increase In the balance of myself with what Sir Henry has tablishment of credits in favour

of our Working Account for 1931 over that for 1930, notwithstand- tinues to be fualified notwith- standing the disturbed conditionsg the very low rate of exchange which prevailed during the greater

and grave as to promote a cer-

***

con-

the various rumours current from

Alternate Directors.

shares.

Congratulations.

Other Business,

8. Dance of the Fire Worshippers (de Falla). Concerto in E flat Major for Piano and Orchestra (Liszt).

10.30 p.m.

the

"Grand National." the Running Commentary on

An Attempt will be made to relay

10.50 p.m.

New

(Approx). Rugby Mid-Day Press 11.00 (Approx). Close Down. WAR DEBTS ISSUE. (Continued from Page t.)

provision was made

Accordingly, the Act in which for the es-

"

"It

minds of some Shareholders to he high values attaching to both

of "the Governments engaged in just said.

war with the unduly high, I would say that, at the properties in question

enemies of the The motion was unanimously United States" began thua; the time your Directors Report

"For the purpose of more of- and recommendations were formu

adopted. lated, the situation at Shanghai in the Northern port, and I think part of 1931. The second point is

fectually providing for the na- tional security and defence, and appeared aufficiently uncertain it well to mention, in view

of the fact that our bus services have

for prosecuting the war. On the proposition of Mr. J.F. time to time with regard to this nextstanding a very moderate

Here are the words in which the tain degree of apprehension with Company disposing of its Shang-fit. The third point is the fact Sherry, Mr. W.H. Bell's appoint- Congress in various stages of its of fares, been run at a pro-Wright, seconded by Mr. J. P. Bill was supported by members of regard to the prospects of our two hal interests, that a firm offer to that the Wagons-Lite Hotel, in ment to the Directorate was con passage through the two ounce establishments the current year. The desirablli-Palace Hotels and contents

in that port for purchase the Astor House and which our Company has an in- firmed, and Mr. J. Scott Haraton in the latter part of April, 1917: ty appeared indicated of conserv-K. $6,500,000 was refused by the cent, hus paid off all its debentures

for terest of about ninety-five per was re-elected to the Board. ing resources against the possible Board during last year.

Senator McCumbar (Chairman Menara. Percy Sraith, Seth and of the Finance Committes): detrimental Influences

and has effected a distribution of Fleming were re-appointed audi-a probably true that more than a on opera tion, a lengthy continuance of the

ten per cent. on Its Ordinary i tors on the motion of Mr. F. M. quarter of a million man are go- disturbed conditions might pro- mote

Turning to the second Resolu

In Strong Position.

Ellia, seconded by Mr. Gul, l'otts, |ing down to death, or boing wound- this-concluding the business. tion to be placed before you at a Shanghai War Risks.

subsequent meeting this morning, sorted that the Company is in a

In short, it may safely be us At the time of the first clash in which is in regard to the alterna- strong cash position, which will be the Northern Port, your Board tlans to the Company's Articles yet further Improved by the almost meeting, which followed, it was the expenditure of money when At the extraordinary general We ought to mighty liberal in deemed it advisable to effect War of Association and for which complete elimination of the item proposed by, the Chairman, and we take no part in the real on the Rlak Insurance covering ho your sanction is sought, these

after the new acconded by Mr. H. Lo that the which to-day is the battle of the Issue of two

American people." four resolutions authorising the effected in respect of the month tons of inconvenience which have been taken up in the middle of this issue of $5,000,000 of now capital

rectification to situa

No Repayment From France. Senator Kenyon: "I want to of February at a cost, for both arisen in the past in the conduct year. It is interesting to hear be adopted, and the motion was the Astor House and Palace Hoof the Company's affairs.

that the Board received an offer of ananimously carried.

say this for myself, that I hope telis, of some $35,000. During the Up to the present time Directors, the Astor House and Falace Hotels aix and a half million dollars for earlier term of the disturbed when leaving the Colony tempor. during the past year, Personally the alteration to the Articles of owe more to the Republe, us one of these loans, if wo make It, The meeting similarly signified will nover be paid, and that we times, the altuation, more parti- arily, ofther resign from the Board

its approval of the resolution for will never ask that it be paid. We cularly in view of the proximity or apply for leave of absence. tional Settlement at Shanghai will Association for the introduction France for what it has done for us I am confident that the Interna of the Astor House to the most In consequence, over many perioda continue to increase in prosperity, of alternate directors, after it had than we can ever repay. I never. merlously affected area, in your in the past, the Company's bust-seeing that it is such a splendid, been proposed by the Board's opinion, fully warranted nose has perforas had to be con- example of the magnificent results, and seconded by Mr. N. V. A. France to return the loan we make. Chairman want to see this Government ask the precautionary insurance mea-trolled by a Board very restricted which can be achieved by Chinese i Croucher. Bure undertaken. As later, how-In membership.

to her."

Shanghai properties, and this was amendments, if passed, will effect 11or Bank million of dollars has

necessary

Resolutions Adopted.

ed

or captured, every month dur- ing the contest. Therefore, while

they are suffering to that extent,

bo

We have received a

New Shipment of "VAN HEUSEN"

Semi-Stiff Collars & Shirts.

They are now showing in new shapes at reduced prices.

"Van Heusen" Shirts with collars attachod In White, Blue and Biscuit. Guaranteed Unshrinkabla and most oconomical in waar.

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.

#PERS

FOX PICTURE

Will Rogers YOUNG AS YOU FEEL

FIFI DORSAY

BRITAIN'S BEST THRILLER

BRITISH INTERNATIONAL PICTURES UP

GRAHAM SETONS GREAT SPY DRAMA!

"The

BRIANAHERNE NASDEL USUL CARREAU,

5:50 TIAUGHLIN

GORDON HARKER

Jackie

PLAN

DIRECTED ON VICTOR BAWKAR

A BURLING FON PRODUCTION

DUE SOON AT THE QUEEN'S.

Ward

off SUDDEN CHILLS

DON'T ignore that sudden chill, sore, throat or that persistent cough. Take Peps and benefit from the direct healing action of these famous breathesble tablets.

To preserve certain volatile oils which Fepa.contain, every inbier han to be separately wrapped in silver foil... Whan dissolved in the vouch, Peps give off soothing and chest-strengthening fumes which aro carried with the breath straight to the lungs. : Pepe quickly alley inflammation and sprengis in throat and bronchials and protest all the breathing poptages againat sudden chilis and infection danger,

Wer coughs, colds, night-chills, wore throat, bronchitis, etc., Papa are unequallede Ol medicino dealers everywhere.

PEPS

HANDY SILVER WRAPPED LASTEIS

Agents-Messrs. Gliman & Co., Ltd. 4A, Des Voeux Road, Hong Kong,

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 declarod' war."

Congressman Fordney Their

(the credits") only purpose is to aid them in the best way possible to fight our battles across the nea without calling upon our mento Congressman Mondell: "Wacan (by the credits) Teneotivaly, andžio the immed

go there."

COMING TO THE QUEEN'S

ARDY