1932-05-18 — Page 17

COMING SHORTLY TO THE KING'S. A Great Human Story!

HINDLE WAKES

Based on

STANLEY HOUGHTONS play of Lancashire life SYBIL THORNDIKE JOHN STUART, NORMAN M'KINNEL EDMUND GWENN BELLE CHRYSTAL. Directed by VICTOR SAVILLE,

› GALİMONI-GAINSBOROUGH PIČJURI

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MAN HING

TAILOR

PERFECT FIT GUARANTEED

No.-9 D'Aguilar Street.

Summer.

Tel. 20780.

THE

HONGKONG

INDO-CHINA S. S. MEETING

(Continued from Pago 7.)

TELEGRAPH. WEDNESDAY, MAY 18, 1932.

both native and foreign, and I am Buro as shareholders of the Com- pany you will desire to associato yourselves with the Directors and GeneralMingers in expressing the deepest sympathy with the relatives of those who lost their lives. The

CHINA SUGAR CO.

FOURTH REPORT OF LIQUIDATORS

Authorities to incronso their Company granted compassionate The fourth report of the charges without taking into ac-allowances where circumstances de-Liquidators of the China Sugar count the depression through manded, and I feel sure that this Refining Co., Ltd., was caented which shipping was passing, and will have your fullcat approval. As to a meeting of sharcht dors in while the hand of the tax-collec-

you are aware & memorial service the board room of Messra, Jar tor appears to have been stayed

was held at the Cathedral at Shang- dine, Matheson and Company this for the moment these charges form hat and also at St. John's Cathe-morning. It was stated that the an unduly heavy expense on adral, Hongkong, where both ser-Anal return to shareholders would trade already overburdened with vices were largely attended. over increasing operating costs.

In approximate 60 cents per share. turning the page on this tragic Mr. A. B. Stewart presided and affair the Company is greatly in debted to the assistance rendered by H. M. Naval Authorities, and II. M. S. "Sepoy in particular,

HONGKONG INCREASES. Although Hongkong has long been famed as one of the cheapest ports in the Enst as regards hand-

Apart from the construction of ling expenses and harbour dues. a small shallow draft tug for the it is in danger of losing that repu Hunan trade, no new tonnage was tation through the increasCA en-built during the year, forced inst year in respect of light dues etc., and I hope the local Government will reconsider the position sympathetically in view of the importance shipping bears to the trade of the Colony.

The serious decline in the value of silver, which had a disastrous

FUTURE OUTLOOK.

effect upon our 1930 results, con tinued for the best part of lust year and the sterling equivalentsed of the balances of steamers' Work- ing Accounts were converted at

It is customary at these meetinga an average rate of exchange for The year of 1/0d. compared for the Chairman to make Home with 1/4.11/82d. in 1930 and reference to future prospects, but

other present were Mesars, A. Ritchie (secretary); A. Murduch, F. C. Hall, N. L. H. Raton and He Leung.

The quidators in their report to the shareholders on the pro- gress of the liquidation of the company said that during the year ended 10th April, 1932, they Hold

the

remaining property of the company in Yee Wo Street, at prices well in excess of the offers first refused.

up-

17

128

123

38

OUR BRITISH CROSSWORDA.

Астоян

Your Directors desire once mure to place on record their apprecia tion of the services rendered by the floating staff, nshore and afloat, and shareholders will no doubt wish

The report added that re- to be associated with these marks. They have co-operated country accounts had now been legally in the various schemes of collected with one exception where my instituted and have help-arrangements for deferred pay- ment were not adhered to by the to make these successful,

customer. Pressure was being 1 In this word all the vowels brought to bear and it was hoped Lollow in their correct order. that the legal slaps now being though sparingly. taken would result in speedy

At any time (rather archaic), realisation of this, the remaining 10 One of these days this may be asset to be collected.

a scaffold pole (two words). 11 Cromwell

considerable plnerd dependener on this weight.

was strongly atinehert 13 this spice and Whowed

Kreal affection to the end.

14 Now we ran warh a deal at this 13 Cut short.

Spanish dust away. There's, a bodega in sight (hidden).

12 c.

1/10.11/16d. In 1920, dealt under present conditions this in out

The liquidators had hoped to very fully in my last speech with of the question. Commerce and make this the final neconut of the the position of the Company's in politics are so welded together, in company but until the debt men- earnings in depreciated silver, and China that it becomes impossible tioned was collected, they deemed the bulk of our expenses in ster-to forecast what the outcome Bng, and showed that the effect hostilities in Manchurin, and re- ment of affairs. At this stage, ofit inexpedient to prepare a state- of a fall in exchange is to increase cently at Shanghai, will be.

Men-however, expenses without benefitting earn- tion has been made of better earn-that

appeared probable the final Return to Share- inga, which depend on the state ings in the closing stages of the holders would approximate sixty

17 In the morning French pre- of the freight market. The same year, and while I trust these will cents per share after paying all 19 This Exchango has a maritime position looks quite up to date. remarks apply with even greater be maintained, too often has dis-liquidation expenses, force to the year under review unionment followed hopeful views It was stated that Mr. John 21 Moalling. and the considerable fluctuations on spasmodic fluctuations

twang. of the Fleming, C.A. would be in charge created many new and freight market.

absent It from the Colony til 15th Novem- 24 Unable (nnng.).

It is in a mess! troublesome difficulties.

All

The hostilities which, broke out her and In the interval Mr. A. 20 This plant has avenues of economy were studied

at Shanghai between Japan and Ritchie. C.A, would act formally throughout 1931 and your Direc-China at the end of January thin tors are satisfied with the progress year and lasted until March, are

as liquidator. in reducing expenditure made compatible with efficiency.

·SALARY CHANGE.

Following the negotiations with the Guilds, referred to at some length last year, the Directors and the General Managers were obliged reluctantly to pay the ster- at

year,

of

our

programme

of

13

The chairman said that

31

not

mail yellow flowers, but with a change of head

they would be large, and necessarily yellow. how happily at an end, but Chinese mentioned in the report. It was 20 Slaven. institutions such as banks, Cham-hoped at this meeting to present

Whether he rhymes with fool bers of Commerce, Exchanges, a final statement of the result of

his horrid deeds may ba or foul, Liquidation

the owl. spen but

by Shipping Associations and Honge the

difficulty Water-and not a drop to drink. at one time were

was being experienced in collect-33 Well known and justly celebrat Chinese business practically censed. ing the one remaining account.

ed-including mine. Normal conditions are, however, be- Legal proceedings had been taken 34 Descriptive of a water-beatle. ing restored as rapidly as circum- but they had not yet heard from 35 Although I'm without defect and stances permit but the future is the agents if it was possible to uncertain and an opinion on the arrange a settlement, coming march of events would be mere guess work.

all closed and

Turning to the statement of ac counts it will be seen that there ja a profit on the working of steamers amounting to £27,332.12.14.

com.

The motion for the adoption of the report and balance sheet was proposed by Mr. Hall, seconded by Mr. Murdoch,' and enrried unanimously.

go on to the end, it is all that one can expect of poor, crring humanity.

Down

2 The time when the father

the man has great dreams.

of

3 In the little annd hill he maken

a silly kind of titter.

4 German city.

G Sin.

6 Arranges varieties.

1/6 and half at current ling salaries of their European floating staff on the basis of a 1/Gd. exchange instead of half rates. This arrangement began on 1st July and effected saving which will be more apparent this It was a measure greatly to be regretted but imperative as part {pared with a loss of £10, 167. 18. 30.

drastic for the previous year. After pro-1910 to 1931, exceeds the present economy. Further, your Directors viding for depreciation and liahili-book value of the fleet is not cor have decided to forego all their ties, etc., it is proposed to transfer rect as a glance at the published Fees for the your 1931. These £74,178.11.7d. from Contingency accounts will show Depreciation amount to £1,500 per annum and, | Account and £14,818.16.6d. from is based on first cost less break up, life I may add are not held in sus-Building Account to cover the loss divided by expectation of

on Revenue Account, and under the which varies according to the class

of ship, Freight and passage rates were circumstances I regret it is

Capt. Laurenson-Wil the raised whenever and wherever possible to pay any dividend. The practical but it was not always pos-transfers mentioned will leave the chairman state whether the amount

with increases. Revenue Account

a credit expended in a docking and/or over. sible to maintain the This question will continue to re-balance of £1,060.4.9d, which it is haul of any of the company's ceive the strictest attention of the proposed to carry forward to next vessels is placed as a charge against the book value of each vessel and General Managers. The Namsang, year.

now beg to propose the follow. thus appreciating the book cost tered, were further marked up, other a vessel 29 years old, was sold dur ing the year having become uning resolution: "That the Report shown of the unit? economical in operation.

pense.

TYPHOON LOSSES.

During the severe tyhpoon which swept the China Const in August, the Company suffered two major casuales, with regrettably heavy loss of life. The Kwongsang was Grived ashore in ale vicinity of

not

and Statement of Accounts, as pre- sented be adopted including the transfers of £74,178.11.76, from Contingency Account and £11,818. 16.6d. from Building Account to Revenue Account and that the sum of £1,050.4.9d. be carried for ward to next year."

As soon as this has been second-

Fu Yan Island, near Foochow, and ed I shall be glad to answer to the sank with the loss of all but three best of my ability any questions native hands. The Walshing at which shareholders may wish to so stranded, in Nam Kwan Har-ask.

SOME QUESTIONS.

The Chairman called for

ques-

bour, and one sailor was drowned, The motion was seconded by Mr. but after being salvaged she was AJI. White.' found to be so badly damaged as not to be worth repairing, and was accordingly sold. As the Waishing was not a constructie total loss,tions before submitting the motion. underwriters were only liable for salvage charges, etc. In order to replace the loss of these vessels and to maintain our important con-

nexions in coastal trades, three steamers were time-chartered and have so far proved very satisfac

tory.

The loss of the Kwongsang in deeply deplored accompanied as it was with such serious loss of life,

4

Capt. Laurenson:-As no less a sum than £1,177,210. 0. Od, has been written off as depreciation of the company's fleet during the years 1919 to 1931, inclusive and which amount is in excess of the book value at date of the company's fleet, will the chairman advise what per centage is used in computing the annual amount for depreciation? The Chairman:-The statement that £1,177,210,, the write off from

FRECKLES AND HIS FRIENDS

THEY'RE ALL IN THERE...1 SAW

Your need these for the

PHARMACY'S

SUNBURN LOTION

PRICKLY HEAT LOTION

MOSQUITOL

AND

COCKROACH POWDER

THE PHARMACY.

Phono 20345.

"EN GO IN-

DONT GET

TOO CLOSE!

AW, C'MON-THEY CANT SCARE US..

WE GOTTA GET

OUR CLUB HOUSE BACK!!

SHH... LOOK, AMZY!! THEY

FOT A DOS BIGGER'N A BEAR!!

NOW ALL YOU KIDS KEEP QUIET.... I HAVE A SCHEME

TO GET THEM OUT OF THERE.... IF IT WORKS!

SHUH

The Chairman-No. Captain Laurenson:-Will the chairman consider the advisability of making clearer in the revenue account the actual nett profit or lo96 made by the company's fleet in lieu of the ambiguous phrase "net balance of steamers working ac counts" with its accompanying sterling amount?.

The Chairman:-This is a mat ter of simple arithmetic, but in any

case since 1930 the amount of the

loss has been stated in the directors report.

The chairman's motion was then submitted to the meeting and carried unanimously.

OTHER BUSINESS.

The appointment of Mr. M. T. Johnson as a director of the com- pany wna confirmed on the motion of Mr. A. Murdoch.

Sir Robert Ho Tung and Mr. M. Johnson were re-elected directors of the company.

Mesara Juhu Fleming and A. Ritchie were appointed the com- pany's auditors for 1982 at a re- muneration of $6,000,

The Scheme!

SEE THIS STICK, POODLE? GO GET IT, NOW.... NICE DOG... SEE?

STICK!!

HONGKONG SHARE MARKET.

OFFICIAL SUMMARY BY STOCK EXCHANGE,

Markets this morning continued to show firmness, and rates, where al

wise. yesterday's higher levels were fully maintained.

GEE WHIZ !... WHAT ARE YOU THROWIN' STICKÝ FOR FI THOUGHT

YOU HAD A SCHEME TO GET

*THAT GANG OUT

OF OUR CLUB

House !!

Sales.

Union Insuranees $470 Hongkong Lands $77% Ewo Cottons Tla, 13, 40/13, 70 Hongkong Trams $21.40 Dairy Farms 28

Buyers.

China Fire Insurances $500 Unlon Waterboats $20 Benguets 315

Benguet Explorations 31 cents. Wharves $143 Docks $18%

Providents (Old) $4.00 Hotels (Cum. Rights) $12.80 Hongkong Lands $77 Shanghai Lands Tis, 27% Humphreys $15

Hongkong Itealties $11.30 Ewo Cottons Tis. 13 Hongkong Trama $21.40 Peak Trams (Old) $15%

Ferries $00

Star

Yaumati Ferries (Old) $32% Yaumati Ferries (New) $91% China Lights (Old) $20% China Lights (New) $20 Hongkong Electries $71 Macao Electrica $24 Telephones (P. P.) $23.80 Canton Ices $6.10

WELL, THIS IS IT" s«*?. I THROW IT RIGHT FOR THE SHANTYTM KEEP

YOUR EYES OPEN,

NON !!

16

7 No Luncastrian lover.

5 Provided with sight aids,

"Pul's chic dame," and very

talented (anag).

mark of disapproval not elegant neither In the

14

As

nor clawhere.

In Beautifs,

1

111

street

but not without a cer-

tain amount of bother.

Good

I wind--especially the heart

18 Arn.

of us do too much. (20 An underhand matter.

23 King's Cross and Waterloo. 25 is mysteries form the subject of one of Mrs. Radcliffe's best- known novels.

27 The South wind, which we all know to be mild and balmy is, also, almost harsh.

28 The poor sailor is in a position

where he will suffer hunger.

extreme

30 "To a close-nhorn —, God gives wind by measure" (George Her- bert, "Jacula Prudentum").

31 The entire range.

Yesterday's Solution.

"TR" FORUM F 6) BASUTO E AUROBA

“LUMOT DRI RESIST RAVENOUS NN BEF EU ES OTTAWA SILVERED

UNLUUTIO

GENTILE IBERIAN

H

TM LIATE TURNPIKE RUPEES FAN ODDA L FOOTSTEP LICHEN NIE WIFV SILVER R MATTER MENUDGE Y N

Comenta (Combined) $18% Watsons (Old) $13% Watsons (New) $13.20 Lane, Crawfords (Old) $0.50 Constructions (Now) $1.70 Wallace Harpers $12

Bellers.

China Underwriters $4 South China Motors "B" $12 Hotein (Rights) $2

S. C. Enterprises $8

The girl who is green-eyed with jealously often becomes red-eyed with weeping.

By Blosser

SHUCKS!

JUST AT THE

CRITICAL MOMENT,

WE COME T

THE END OF

OUR SPACEy

OH, WELL... MORE IS

.COMING "TO MORROW

WILL YOU DE LOOKIN Hvit?.