1932-12-08 — Page 11

SECOND FERRY LAUNCHED

Mr. Halifax' Address.

THE HONGKONG TELEGRAPH THURSDAY, DECEMBER 8, 1932.

heavy

practically free-and at the same very fine with openings for ships time they nearly succeeded in get-and all the rest of it, but which The Hon. Mr. E. R. Hallifax, ting a strangle hold on all piers scomed to forget that a ship ad- in replying, said:

My wife has a number of ex-which could be used for competi-rift in a typhoon might prefer to tion with them. It was a very make its own opening. (Laught- cellent reasons for appreciating ANOTHER VESSEL FOR the privilege of faunching the ship small Incident-n refusal to in-er). And I remember too that the crease a charitable subscription-cost of the tunnel was estimated at we have just soon take the water which led to a close enquiry into something more than a whole year's VEHICULAR SERVICE so successfully; not the least per- the whole position. This enquiry revenue of the Colony at the pre-

hapa boing that she will hear no Within a fornight of the launch-more from me about the possibility established the need for regula sent Rate. In either case, tunnel tion, and I was going to any "at or bridge I cannot imagine that ing of the Arnt, the Man Kim, Vehicles Terry System, with once" but a Government does not the aim of the Government would eccond of the trio of vehicular which as long an nothing continu- work sike that shall wo say, "bc-have been other than to make the forries built to the order of the led to materialise, she must I fear fore very long," the first exclusive connecting link as little of an ob Hongkong and Yaumati Ferry Co., have been horribly bored. Now Yaumati Ferry was established.struction as possible, and to get! Ltd., took her initial plunge from can stand up to her again and say Boyond paying the promoters their return out of gonoral de- the slipways of the Hongkong and There you are" and "I told you well, it also paid the Government velopment. After all, Queen's Whampoa Dock Company, Ltd.," without any fear of contradic- which builds and maintains the Rond Itself cost a lot to build and

fon. (Laughtor). yesterday. The christening cere

maintenance an requires plars some $10,000 a month, Porhaps you will let me detain income which has been progres-charges, but it continues to pay mony was performed by Mrs. E. R. Hallifax, wife of the Secretary for you a few minutes with some de- sively Increased at each roletting the Colony without turnpike or Chinese Affairs, who was welcom tails of the development of their of the monopoly, and that without toll gate. ed by Mr. J. P. Warren, Conclud- Ferry. About 25 years ago there any increase of the Ferry Farce.

Improved Ferries have already ing a short address, Mr. Warren was only one organised Ferry In The Faros still stand as low as 2

the Colony--tho Star Ferry; all conts a ticket and will I hope and had no small share in the dove- Mrs. Hallifax, kindly allow me the rest of the Ferry work, and believe some day be found to be a lopment of Kowloon, but so far to repeat our sincere thanks for there was plenty of it, was casual true commercial proposition atthey have been passenger ferries your presence here this afternoon and irregular and unregulated even one cent. This may sound only. The Vehicles Forry bids fair and for the service you have After one of our big typhoons a

a little starting, but I think our to simplify and cheapen the trans- fer of certain classes of goods also, rendered to the owners and syndicate

farsighted men history provides justification. builders of the Man Kim, and as bought up cheap a number of

and we approximate more and more a memento of the happy occasion, launches that were the worse for In those sama daya of a quarter to the ideal of a bridge I would ask you to accept this wear, and concentrated on the of a century ago the need to the tunnel which should be free. In alight token of our esteem and re-project; with Immediate success Colony a whole of closer con- ita nature, however, a ferry can gard and gratitude for your kind-nuncially. The syndicate attrac-lexion between the Island and the hardly reach that Ideal but the ly assistanco.

ed little attention while they were Mainland was already apparent, easter and the cheaper it is made the Harbour the better Ladies and Gentlemen, 1 give gathering strength, and then al- and schemes for bridges over to cross you the toast "Success to the Mannost suddenly it was found that the Harbour and tunnels under it for the Colony generally, and I see Kim coupled with the name of hey could freeze out any com-were seriously worked out and no reason why the object In mind Mrs. Hallifax the gracioushetition-there was a period I be-considered. I remember a pic should not always be to approxi-

(Continued on Page 12.) sponsor." (Applause).

ieve when they were running ture of the bridge which looked

said:-

of

or a

sh! Three

"The Castles

Cigaretles

CHINA REALTY COMPANY 8% DEBENTURES 8% INTEREST VS 6% INTEREST

MEANS ONE THIRD MORE INCOME

.

The following extracts are taken from the Chairman's statement at the last annual Shareholders' Meeting, February 29th, 1932.

"We feel that the Debenture holder from an investment standpoint, is just as much an interested partner of the Company, as the Common Shareholder and is entitled to his just return on his investment, and by the figures given on the two years' working, I think we have amply proven that we were right that our Debenture holders receive eight per cent. interest instead of six per cent."

"The most successful concerns of the future will be those who recognize this principle-that even banks will allocate to depositors a part of profits earned on their money over and above current rates of interest. As our balance sheets show quite plainly, the proceeds from the sale of our debentures is not used for the purchase of Real Estate, as we are not speculators, but for investment in first class mortgages, amply secured not only by the value of the property pledged as security, but as a further security, the debentures constitute a first claim on the total assets of the Company. An analysis to the figures involved shows that every debenture has behind it assets equal to three times its value."

"If after careful consideration of actual facts and figures you are receiving loss than 8 per cent. upon your investment and or savings, you are not using judgment but following old customs, believing 5 per cent, and 6 per cent. are current rates."

Castles' for Christmas!"

Bristols Land

THREE CASTLES

CIGARETTES

FAMOUS FOR FIFTY YEARS

22à tâm heltek. Amman T-suru Sa, 1 kina. Ist

WHY BE COLD?

COMPARISON

Mortgage Department, 1930-1931

Year

1930 1931

Amount

10,052,040 19,194.867

Market Value of Value

Property

loaned 18,662,000 54% 9.18% 34,075,565 56% 9.33%

%

Average Interest

rate

Average Commission

0/

Excess Interest

Amount Commission

over 8%

1.215% 0.765%

118,614

255,291

Earned $122,316 146,825

$373,905 $269,141

373,905

Earned above 8% paid to Debenture holders— 3643,046

Of the above mortgages, there was assigned to investors:

1930 1931

6,532,660.00 $13,223,545.00

A lower rate of commission existed in 1931 due to cheap money for the greater part of the year; As it is we earned 1.33% interest in excess of from September, money commenced to tighten up. 8% paid on our Debentures, in addition to $146,825 commissions. From the above it will be seen that our 8% Debentures are secured by first mortgages on 56.4% of value and backed up with 35,000,000 capital.

The natural laws of economics require an investor to secure the best return especially upon savings— trust funds-consistent with safety.

The China Realty Company is one of the oldest festablished more than 20 years) real estate com- panies in Shanghai with a steady, successful record back of it.

Capital 35,000,000 fully paid in cash,

Business turnover 1931, 45,632,300 in land and mortgages only, which does not include management of estates, rent collections, insurance written, trustees for beneficial owners of property and sundry sources of income.

The Company are Realtors, not speculators in Real Estates.

The balance shoots, as of December 31, 1931 shows:

Assets

Lands and Buildings at cost

Cash ....

Mortgages on Real Estates held by Company Dec. 31, 1931

Total Debenture issue Dec. 31, 1931

12,341,726.3)

3,351,055.84 1,844,259:11 35,971,200 4,840,700

by which it will be noted that all of the proceeds from Debentures are invested in Mortgages and $1,131,500

of the Company's capital.

In the past twenty years the Company has negotiated more than one hundred million Taels in mortgages,

all of which has been repaid, principal with interest.

:

CHINA REALTY, CO.

"The Real Estate Market Place of Shanghai." 70. SZECHUEN ROAD

...SHANGHAI.

BAR "PHOENIX.” An inexpensive Radiator, in cast-iron, beautifully finished in Black Stove or Coloured Majolica Vitreous Enamel. Ideal for housing schemes and where a robust quality Fire is required.

"MAXLUME"

RADIANT FIRES

"EFFORTLESS HEATING." From $13.

The Fires illustrated are not the Cheapest Types and are not intended to be.

They avoid the many faults of the cheaper types, The both electrical and mechanical. struggle to save a few pence, to be the. lowest in price, has resulted in the many defective unsafe fires on the market. The "MAXLUME" Fires are Quality Fires, sold with a Guarantee of Long Life, Lasting Service and entirely BRITISH. MANY OTHER TYPES TO CHOOSE FROM.

AT

SHEWAN, TOMES & CO.

St. Georgo's Buliding.

Chater Rd,

HONG KONG.

1 BAR "REFLECTO-FIRE." A very officent and effective Fire. The glowing appearance of the Fire Bar is reflected in the Polished Copper Reflector Back and thrown forward into the room. Very light, and quitó sufficient for Small Rooms, Offices, etc. Sides and Ornaments Oxydised Copper finish. Front, Art Black.

Ан

2 BAR "UTILITY."

Inexpensive and very popular Fire, in sheet metal, with 1,000 watt Fire Bars, plerced trivet top to keep utensils warm, 1 foot switch, giving full and half heat. Finish, Oxydized Copper and Relieved Top. Body stoved Art Black.. Wo advise this model where a reserva of heat la required.

Vitreous Majolica Enamels.

OBTAINABLE AT ALL PRINCIPAL ELECTRICAL DEALERS

AND SHEWAN, TOMES & CO.

11