1932-04-05 — Page 17

POLO

STICKS

We have just received a big Consignment

OF

POLO STICKS and BALLS Please call and inspect

MAMAK & CO. 10. Peking Road, Kowloon

COMING SHORTLY TO THE KING'S.

Laughst Galovel Titters! Twist!

Beauties!

UNITED

ARTISTS PICTUCT

Goldwyn

prevents

CANTOR

CONSTRUCTION CO. MEETING.

- SATURATION POINT- IN BUILDING.

EXCELLENT YEAR.

THE

HONGKONG

TELEGRAPH. TUESDAY, APRIL 5, 1932.

tlon point having being reached, for the time being at any rate. On the other hand, your Board will be ever alive to oportunities that may present themselves for profitablo undertakings for which your Com- pany is especially equipped.

When addressing you last year, I made reference.to the keen com- petition your Company has had to contend with. That competi- ton has, if anything, been inten-

#lfled. Certain ownɑrs give pre-

Your Directors aro convinced those latter shares will amount to that the development of Kowloon 14 cents per share. As to the new and is growing popularity as a Issuo shares, dividend has bean residential area with the middle calculated to the nearest fraction plasses of the community are fac-of a cent, viz, 1 conts for each tors that cannot fall to contri- of the new issue shares as from bute to the enhancement of the date of allotment, viz,, 1st October, great value of this unique property 1931, The "Now" shares applied when finally developed and built for by shareholders residing out- alde the Far East will rank for upon.

dividend ns from 1st January of this your.

among

I am sorry if I have dotalned you unduly long: but so many and so varied havo beon the subjecta to be dealt with in the review of

Big Investments. Excluding eash with bankers' standing at $84,071.54, the next largest item appearing your assets is the value of the Company's Investments. These the Company's activities for the past year that your Board feel investments were acquired at a cost of $62.364.45, the market value of which on the 31st Decem-it is their duty to present to share ber Insi was $75,750.00, or a dir-holdera as complete a survey of ference of -$13,385.55.

the Company's operations as their As this importance deserves. At the same

were signs of its having renched Perience of comparative values. Profit is not a realised one it has time if shareholders feel that any !

Presiding at the annual general ference to wood piles because of meeting of the Hongkong

En-their lower prices. Whether simi- gineering and Construction Co., lar value is obtained from wood Ltd., today, the Hon. Mr. J. P. piles to that given by cement con- Braga reported a most successful crete piles in a question on which, I think.. there can exist no two year, with the Company in a

More and more satisfactory cash position..

varying views have our esteemed clients, the Referring to the building boom, Mr. Bragh said that although there Chinese owners, who have had ex antaration point, for the time realised the worth of our system being at any rate, the Company ticular, it la no exaggeration to

of piling. In one locality, in par was alive to opportunities for profitable undertakings for which state that the "Frank!" system has been adopted to an extent of it was especially equipped. over 75 per cent. of the founda. tions of buildings on which the | superstructure has been built.

In this connexion it may in- terest share holders to have read to them an extract from a technl-

Chairman's Speech. The Chairman, in addressing ahareholders, Bald: It is grat- ifying to the Board to be able to put before you a statement of ac-

and transfer fees

received

counts for 1931, showing a credit cal magazine published in Eng- balance brought forward from | land. That magazine is known Working Account of $105,111.84, us Concrete and is considered the ofter charging depreciation of best of its kind in the profession. $10,433.00. Adding interest earned The extract, to which attention and may be usefully drawn, emphasizes allowing for Managing Director's the fact that: "Piles driven for salary, Director's Auditors the Admiralty in Hongkong where

El fees, we arrive at a nett profit for the soll is very poor. carried # the year

of $90,868,58. This load of 100 tons with a settlement com- of only 1/32 inch, although their result was attained from a bination of

After fortunate circums-length was only 23 feet. tances, principal among which was removal of the load. the pile re- position. abnormal building activity turned to its original

Under one warehouse there are throughout the year.

177 piles carrying 70 tons each,

the

and it is remarkable that their lengths are only 15 feet to 18 feet, although borings to a depth of 75 feet failed to show the exis tence of any reliable bottom."

Kowloon Enterprise.

I need only quote an extract from the report of the Public Works Department for 1930 to show how fortunate the Company has been to find conditions as favourable as they were for successful operation! during 1931. The report of the Hon, the Director of Public Works

You will, no doubt, wish fer stated that "great activity in all! classes of building works continue some commenta on the balance throughout the year under review. sheet. The most salient feature Construction of Chinese tenement on the assets aido is a new item The appeading as "K. I. Y 2057 Deve: This is a large plot of land con- Jopment, cost to date, $261,591.28. taining some 30 acres situated at the junction of Argyle Street and Waterloo Road at Kowloon. was acquired, as you all know, at public auction for the sum of land WILA pur- $326,000. The

the chased in agreement with Mission Etrangeres; the Corpura- tion has paid its proportion of the

The work purchase price. forming and levelling the site, in- which the cluding the portion French Mission owns. will be carried out by the Company.

houses proceeded space 4. էլ Prayn East Reclamation, no fewer than 248 houses being completed up to date, with an even greater number in course of construction". Great as was the activity displayed to the end of 1930, it suffered no diminution in the course of the twelve months under review. There was practically 116) censation

the orvetion tenement houses in the particular district referred to and we were favoured

by our valued consti- tuents and Chinese friends with contracts that kept our equipments fully employed from hostinuing to end of the year.

in

Saturation Point.

Chinese

I wish it were possible for your Directors to report a continuance of this activity. This optimism.

are not wanting signs of salern-

ΤΕ

of

t

for last year.

ed.

OUR BRITISH CROSSWORDS.

Астори

1 Give the beast' a small ack. nowledgment of distinguished service for an ornament that in- cludes a portrait.

been brought Into account

Information should be supplement- Present indications are that, ifted on points that have not been the necessity arose for selling melently brought to their notice. your in vestments it might be done it will afford me much pleasure to add such Information if questions at a profit approximating 20 perare asked after the resolutions I cont. of their cost.

I do not think that you wish me propose moving has been second- to detall each item of deprecia-

I now formally move that the tion of the plant and machinery comprising 'our naxeta. The Directors' report and statement of year 1931 be figures appearing in the balance accounts for the sheet testify to the provision of adopted as presented and that the very liberal allowance for writing balance at eredit of Profit and off in pursuance of a policy with Loss Account of $128,060.13 be which, the Board thinks, no fault denit with as follows:-In paying a dividend of 20 por cent, viz., 40 can be found.

The Company's 'cash position cents per share on the "Old" will. I hope. be considered satis-shares, absorbing $88,830;

in factory, inasmuch as, apart from paying a dividend of 20 per cent. the value of investments I have viz, 14 cents per share on the just mentioned, there was a cre- "New" shares, absorbing $4,121- dit balance at current account 05: leaving with your bankers on the 31st De- $86,699.08 to be carried forward to cember of $84,071.64. These next year. amounts are available, it should be noted, after the entire cost of K. 1. 1. 2667 had been paid to Government within three days of ing. said:-Mr. Chairman and the sale and purchase of the pro-Gentlemen,--Before formally se-17 Give up this. Old age creeps in.

籍 balance of

Seconder's Speech.

Mr. K. Stuart-Smith, in second-

6 You'll see this in a flash!

8 Practically wise notwithstanding

the rough interior.

10 Sea-going vessel patronised by

cooka.

11 The photograph album placed geometrically centrally on the table was typical of the room (hidden).

12 By removing the capital, there's

good deal of a risk. capital remains unmoved.

But the

13 The sales that include this have

dropped considerably. 16 The condition of a fool.

perly, as stipulated in the rond-conding the adoption of the raportething to brag about-the

ttions of sale.

Old and New Shares,

It will be noted on the liability side that the 4,500 unallotted Old shares of the Company were disposed of in the course of last year at a profit of $44,156, thus bringing the fully paid ahares to

"Palmy Dayser, is denied us: fur there pany from $200,000 to $1,000,000 holders.

CHARLOTTE GREENWOOD

I snap

JUST

ARRIVED

SUMMER

in a new

Spring hat...

GAGE & PARIS CHIC HATS! PRICES FROM $12 TO $25.

DISPLAYED BY

MODE ELITE

FROM SHANGHAI.

CHINA BUILDING, QUEEN'S ROAD CENTRAL. OPPOSITE KING'S THEATRE.

and accounts, I think I shall be

la it. voicing the views of a number of 20 Rhymes with bubble, shareholders if I express rondy ap- 22 A great handicap. proval of the cautious policy which 23 No matter how devoted they has been applied to the appropria-

may be, tey always hold their own views. tion of the funds at our disposal. 24 Sounds an upright kind

fruit. I doubt there can be anything but satisfaction with the amount ofg8 More frult. There is a consider- the dividend distribution, and

able series hero.

of

31 One of the days when Allce had

jam.

Down

1 Look at the first part of North America to sea where this treo is held in great regard.

2 Second the first from the doctor. It's not no downtrodden ns it anco ጓጊ፡

3 Really this vegetable sounds as

though it should be stopped,

EXCHANGE RATES.

Paris

4 Required in a very unpleasant.

why.

A river gives one this legal right. Took chances with Margaret go- ing up to the top. She wat

short, however.

rather

7 To go through it one reverses the

roof covering.

D Cobwebs.

14 The "lano star State." 15 This thing the blood, bat 10 this is good for you.

18 There's something in the boy

that

makes him

become not enally depressed. Lucky lad 10 Describes the man to whom 15

likly to appeal, Though

20

is

charming, a Scot would

get but little from it.

21 Dolayed through not getting up

in time.

25 What all 23 do.

20 Describes a famous duckling.

27 Fruit furnished by a Frenchman

Yesterday's Bolation. ||RATIO U INATION "WYD A O B HANBARD. P ADD I'M

10 AON L L B ROTELTKENĮ KTN P TENTU A NA B CORING S1 LE SIN

COURAGEJ TENT PE H ̄NNAK FF

O NO E URBAN MUE RELA" DN LB DREAMER BPENSE TAGNUSH VI

UNS YMMETRICAL

Friday Yesterday. Milan .965%

19.50

16 Prague

Bucharest Hongkong Brussels

96.7/10 Copenhagen

Stockholm

035 1/3.0/16 .27

7856 .18.9/16 .18.20 128

1/8.5

18.9

18

12

.110

.1/0.1/10

1/8 .29

.4.21

1/8.1

.17.7/16

19.1/18 Lisbon

the total of 100,000 shares. This shareholders will doubtless notice | 29. This spinner is a wrong' 'un. share premium has not been cre-that, despite the measured pessi- 30 You must make an attempt to dited to Profit and Loss Account. mism which has been applied to no in this way. It is worthy of note that the 344.- existing prospects, and the conse- 156, together with the proceeds | quent ́imple appropriations to re- ($6,090.96) of sale of plant writ-serve

the and carry forward, ten off the books last year, muking | Bourd liave yet considered a sub- a total of 850,296,96, have been stantial increase in dividend to passed to General Reserve, which be justified. Meanwhile I think it is now represented by the sub-only due to the Board to offer stantial sum of $72,593.46.

them our congratulations on the Of the "New" shares, 329,684 | successful resulta they now pláca were allotted and the first instal- before us. I have now the plen- ment of 25 cents on each share sure to second the adoption of the duly paid. 56,176 shares of the report and accounts as presented. "New" Issue which shareholders

The motion was unanimously To enable your Company to pre-outside the Far East were en adopted. read with this enterprise which

titled to. were applied for and has larve peribilities for the fallotted in due ourse. There re- ture of the Company, authority main 1840 shares of the New was obt: bed from sharchelders to

Issue for which application increase the capital of the Com-has yet been received from shure the amount of new capital being

Before leaving the subject of $800,000, of which the first instal-

the new shares, it is permissible ment of $100,000 has been called

to lay atress on the fact that the The Hon. Mr. W. T, Southorn, dividend which it is recommended C.M.G., very kindly accepted your

to pay to shareholders will be | Company's invitation to perform paid also on the new shares, the the ceremony of turning the Orst money, obtained from which is and in connexion with your pro-earinarked for, the purchase and mising scheme. The ceremony development of K. 1. 1. 2657. This tok place on the 16th Januaryland and building scheme has not The general lay-out plán is one yet had time to earn any revenue that offers the most economical and yet a part of the capital sub- And, as your Directora hope, the scribed therefor by shareholders most profitable development of will, subject to your approved of the site to the benefit of share the proposed appropriations, par holders. Already work has been teipate in the profits of last year's commenced in connexion with the trading. quarrying of the stones within the aren, and as soon as the plans are finally passed by the authoritles tenders will be called for levelling and forming the area,

In course of the year Mr. J. T. Bagram resigned from the Board and Mr. Le Cheung-shlu, who had | acted as alternate director for Sir Robert Ho Tung during the lat ter's absence from the Colony from 18th March to 30th September, 1931, was invited to join the Board in his own right. Mr. Lo Cheung- ship's appointment requires your confirmation.

As doubts may exist as to the formation levels which it may be desirable to secure to the best and most lucrative advantage. I would like to state, on behalf of your Board, that there is no in- | tention of cuttine down the whole area to road level. The formation

Division of Profits. level will average about 100 feet

Before formally proposing the above. O D. and will approximate the level of that of the Kowloon ivision of profits decided upon by Hospital

the Board, an explanation la called side on the east Waterloo Road. The

for. Subject to your approval, 20 building lots will be at an elevationner cent, will be paid in respect of of 115 feet, or nearly that of the 95,500 "Old" shares for the whole Diocesan Boys' School to the west of the year 1931, and on 4.500 .ne from date of allotment, viz., 25th of your site.

August 1931, The dividend for

of

highest

Other Business, The resolution confirming the Geneva appointment of Mr. Lo Cheung-Berlin

Oslo shiu as a director was moved by Helsingfors

Athens Mr. F... Silva, seconded by Mr. A. A. Botelho, and carried unanimous Buenos Aires ly. Sir Robert Ho Tung and Sir

Shanghai Elly Kadoorie were re-appointed | New York

Amsterdum directors on the proposition of Mr. Noel Braga, seconded by Mr. Chan Vienna Man-kal. Mesars. Lowe, Bingham and Matthews were reappointed auditors on the proposition of Mr.. M. II. Lo, seconded by Mr. A. I. Basto.

This is all the business before the meeting, gentlemen, and I thank you for your attendance concluded Mr. Bragt. Dividend warrants will be delivered this afternoon upon application either personally or by letter addressed to the Secretary. Dividends of $10 and under will be payable at the office of the Company, and those over $10 by the Hongkong and Shanghai Banking Corporation.

Those present were Hon. Mr. J. P. Braga (Managing Director), Mr. J. Scott Harston and Mr. Lo Cheung-shiu, (Directors), Mr. A. R. F. Raven (General Works Man- (Soc- ager) and Mr. B. Alves retary). Shareholders present were Messrs. A. H. Basto, II. J. M. Figueiredo, M. H. Lo, Chan Man- kni, A. A. Botelho, J. V. Braga, Noel Braga, F. L. Silva, C. Gould, K. Stuart Smith, A. Brago, Marques, J. M. da Silen, Joseph J M. M. Alves, A. C. Greaves, Chan Kam-noon and Loy Wing-hay.

F

Madrid

19.55

.16

10

216 216

300

.178.11716

.3.07

0.13782

32 .50%

216 Rio

295 Bombay

37% Yokohama

1/8 Montevideo

3.80 Montreal

2.3714 Silver (spot) ..........)

40.38

(forward) 175

British Wireles

ARE YOU FOND OF HUNTING?.

CAN YOU SOLVE A MYSTERY?

ARE YOU ENDOWED

WITH BRAINS?

FRECKLES AND HIS FRIENDS

RENEWS HEALTH & VIGOUR

HEMATACOL

A scientific tonic containing

Cod Liver Oil

Malt

Hemoglobin

Fortifios, Builds & Revives

THE PHARMACY

FLETCHER & CO.

Tel. 20345..

Asiatic Building.

THAT'S THE STUFF,

BIG BOY!! HANG ON........

MAKE HIM GIVE UP THAT LEMON PIE, THAT HE STOLE OFF

OUR WINDOW

SILL!!

CALL OFF THAT ELEPHANT... CALL HIM OFF!!

NICE WORK! 1 GUESS HE VONT GO 'ROUND

STRALIN' PIES ANYMORE... NOT IF MOM LETS ME KEEP THIS DOS.

?

Over the Top!

BOY! YOU MADE YOURSELF

A HERO, SAVIN' MOMS LEMON PIE LIKE THIS.... GEEATHIS OUGHTA MAKE

ANON."CHANGE HER

MIND ABOUT YOU !!

By Blosser

IJA GONNA BCRATCH. DAT TOWN OFF MË LIST... UNTIL DEY

GIT SMALLER DOGS ANYWAY!!