1932-12-22 — Page 29

THE HONGKONG'· TELEGRAPH. THURSDAY, DECEMBER 22, 1932.

THREE GREAT HOSIERY OFFERS

IDEAL FOR CHRISTMAS GIFTS

HOLEPROOF

IN ALL SHADES

and Sizes

RAZZIN

BBB HOSIERY SERVICE

HEAVY QUALITY SERVICE weight

X'MAS OFFER

$3.75

PER

PAIR

1.

HOLEPROOF HOSIERY

ZBW CHIFFO

POPULAR CHIFFON QUALITY Absolutely New Stocks

25 DIFFERENT SHADES

AND IN ALL SIZES

X'MAS OFFER

BSS

$4.75

HOLEPROOF AA HOSIERY

HRISTOS

THE "ARISTOCRAT" OF SILK STOCKINGS

SPECIAL CHRISTMAS OFFER $5.25

BOMBAY

SILK STORE

2, D'AGUILAR ST.

AND

KASHMIR

SILK STORE OPPOSITE QUEEN'S THEATRE

THE CHINA COAST.

RECENT TRANSFERS AND APPOINTMENTS

Mr. W. H. Kermode, sup'y chief oficer, Chekiang, has gone chief officer, Fatshan,

Mr. D. Boyd, second officer, Cheklang, in on reserve,

Mr. W. R. Kirkland, sup'y second officer, Fatahan, has gono second oficer, Cheklang.

Capt. C. B. L Stringer, of the Kwangchow, han gone command, Antun

Capt. R. II. G. Ashby, of the Antung, is on reserve.

Capt. G. R. Torrible, sup'y master, Wantung, has gone commiand, Shasi,

Capt. P. F. M. de Freitas, of the Shusi, has gone command. Wantung.

Capt. L. Evans, of the Wantung, hus gone command, Kintang.

Capt. C. Johnson, acting master, Kintang. has

chief

officer, gone Wantung.

Mr. J. J. Spring, sup's sorond officer, Chengtu, has gono acting chief officer. Kanchow.

Capt, LV. Rowe, of the Ilanyang, has gone command, Chengtu,

Capt. W. J. King, of the Chengtu, has gone command, Hanyang.

Mr. D. Kenting, sup'y second officer, Shengking, has gone second offeer, Huichow.

Mr. J. W. A. Whitney, sup'y second acer, Wanhalen. has gons second offler, Anhui,

Mr. T. Norman, second officer. Anhui, has gone sup'y second officor, Wanhsien.

Mr. B. Smith, sup'y second officer, Wanhaion, has gone second officer. Soochow

Mr. P. Swan, second officer, Son- chow, has gene sup'y second officer, Wanhaler.

Mr. J. A. H. P'ontin, chief officer, Hanyang, hua

chio! officer, Wuhu.

Mr. A. G. Parker, chief officer, Wahu has gone chief officer. Hang YARK

Mr. P. Belam, chief officer, Soo- chow, has gone chief officer, King-

yunn.

Mr. J. L. Gamble, chief cificet, Kingyuan,

officer, has gone chief Spochow

Mr. J. G. Grant, sup'y Recond offeer, Linan, has gone sup'y second officer, Wantung.

M. E. J. E. Cox, sup'y second officer, Shengklog, is gone, supty Recond ofcer, Wanhnien.

Mr. J. L. Steel, sup'y third engineer; ofeer, Kinngau, is on reserve.

Mr. J. S. Young, sup'y third engineer officer, Kiangsu, is 18 reserve.

Mr. I. C. Williamson, sup'y third engineer oficer, Kiangsu, is

reserve,

Mr. A. B. Brown, up'Y second officer, Kinngau,

engineer

reserve.

DB

Mr. M. Scott, second engineer. ofer, Kanchow, is on short lenye.

Mr. E. Woods, third engineer officer, Kanchow, bus gone arting chief engineer officer, the same ship. Mr. W. C. Somerville, sup'y third rngineer officer, Wanhafen, has gone third engineer, officer, Kanchow,

IDEAL FOR STUDENTS

"SINCERE'S"

FOUNTAIN PENS 18K gold nib, gold clip and band. Attractively coloured barrel. A British make.

SPECIAL PRICE

$5 Each.

VISIT "SWEET" HOME At Grocery Dept. Christmas is not Christmas without candy. So before you go any farther down your gift lift, visit our "Sweet" Home and feel re- lieved, for candy is one of the finest gifts and stock only the finest.

Mr. R. Bain, suply second engineere officer, Wanhsien, is on home leave.

SANTA'S SUGGESTIONS

for

CHRISTMAS' GIFTS

AT

SINCERE'S

A GIFT OF World's

ENTERTAINMENT.

A twist of the dial and you enjoy the finest Christmas radio fea ture-a new world at your finger- tips! Every member of the family will get a full measure of enjoy- ment from this gift—particularly if it is on

ATWATER KENT RADIO Special Christmas Offer: Model 90 7-tube Compact $160 Model 92 8-tube Compact $180 Including Aerial & Installation.

GIVE SILVERWARE. FOR BEAUTY

& UTILITY. Beautiful table-ware and toilet scts in silver make gifts én- thusiastically received, We have the exquisite Chinese and foreign made silverware ranging from a fow to hundreds of dollars.

Special Rates for Engraving.

FOR SMOKERS

LA PRUEBA CIGARS

The Real "Manila"

Also other celebrated brands

AT

IN CHRISTMAS

PACKINGS.

SPECIAL PRICES.

BRING KIDDIES TO SEE SANTA AT

THE SINCERE CO., LTD.

Me. G. Buyle, from short leave, sible by an agreement renched at

has gone third officer, Tingsang.

Cardiff by the

owners and the

M. W. T. Bould, from reserve, has lender of the Miners' Federation. gone chief engineer oficer. Chipshing. Mr. A. McAlpine, chief engineer ofleer, Chipshing, is on reserve.— The Shipping Review.

PEACE IN MINES.

Mr. Evan Williams, Prealdent of the Mining Association, stated that although the owners were entitled to apply under the agreement for a review of wages, they had decided not to do so in order that no un- casiness should be created or even

AGREEMENT BETWEEN MEN indicated.

AND OWNERS

The Corelliation Board agree- ment in South Wales cannot pos sibly end until February 1934, and it will not end then unless one side decides to terminate it.-British

London, Dec. 21, The prospect of a long period of peace and stability of wages in the South Wales coal trade is made pos- Wireless.

SANTA'S HEADQUARTERS.

S-S-SH!

Q

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SPEAK EASILY

U

with

E

KEATON'S

face

DURANTE'S

посе

E

E

THELMA'S

oo-la-la !

N

N

S

S

COMING SHORTLY to be followed by

"GRAND HOTEL”

ASAHI BEER

PILSENER BEER

GRAND PRIZES MARITIM ESSENTIA

BAE PIC10 X

Sole Agents

BEER

G+ AS

ASAHI

DAI NIPPON

SAH

LAGER BEER

SPECIALLY BREWED

FOR

EXPORT,

COMPAN

BREWERY

MITSUI

USSAN KAISHA LTD.

HONGKONG

LIMITED.

BEST

UALITY:

The following extracts are taken from the Chairman's statement at the fast 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 carned on their money over and above current rates of interest, As our balance sheets show quite plainly, the proceeds from the sale of our deben- tures 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 of 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 receiving less than 8 per cent. upon your investment and or a wings you áro not using judgmont but following old customs, bollowing 5 par cent, and 6 per cent, aro curront rates.”

Bro

CHINA

REALTY COMPANY 8% DEBEN FURES 8% INTEREST VS 6% INTEREST MEANS ONE THIRD

MORE INCOME

COMPARISON

Mortgage Department, 1930-1931

Market

Year

1930 1931

Amount

10,052,040 19,194.867

Value of

Value

Property ¥18,662,000 34,075,565

Average Average Interest Commission loaned rate 54% 9.18% 56% 9.33%

Excess

% 1.215% 0.765%

Interest over 80% $118,614 255,291

373,905

*

Amount Commission Earned $122,316 146,825

$269,141 373,905

Earned above 8% paid to Debenture holders→→ X643,046,

Of the abova 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 from September, money commenced to tighten up.

As it is we earned 1.33% interest in excess of 8% paid on our Debentures, in addition to 146,825 commissions, From the above it will bo scan that our 8% Debentures are secured by first mortgages on 56.4% of value and backed up with $5,000,000 capital.

CHINA REALTY CO.

"The Real Estate Market Place of Shanghai.”

70. SZECHUEN ROAD SHANGHAI

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

The China Real Company is one of. the oldest lestablished more than 20

real estate years)

companies 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 balanco sheat as of December 31, 1931 shows Assets

Land and Buildings at

cost

Cash

$12,341,726.31

Mortgages on Real Estate

hold by ..

Total Debenture issue

Dec. 31, 1931

3,351,055.84 1,844,259.11

$5,971,200

4,840,700

By which it will be noted that all of the proceeds from Debentures aro Invested in Mortgagos and 1,131,500 of the Company's capital.

In the past twenty years the Com- pany has negotiated more than one. hundred million Taels in mortgages, all of which has been repaid, principal with interest.