1933-01-03 — Page 26

THE HONGKONG TELEGRAPIL

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

MEANS ONE THIRD MORE INCOME

COMPARISON

Mortgage Department, 1930-1931

Excess Interest over 8%

Amount Commission Eamed $122,316 146,825

373,905

Market

%

Average

Year

Amount

Value of

Valuo

Average Interest Commission

Property

Loaned

1930 1931

10,052,040 19,194,867

$18.662,000-

34,075,565

54% 56%

Rato 9.18% 9.33%

0% 1.215% 0.765%

$116,614

255,291

#373,905

#269,141

Earned above 8% paid to Debenture, holders $643,046

6,532,660,00 13,223,545.00

Of the above mortgages, there was assigned to investors:

1930 1931

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 carned 1.33% interest in excess of 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 economies 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 established more than 20 years). real estate companies in Shanghal 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 Estate.

Assets

The balance shoot as of December 31, 1931 shows:--

12,341,726.31

Land and Buildings at cost

3.351,055.84

Cash

1.844.259.11

Mortgages on Real Estate held by Company December 31, 1931 35,971,200 Total Debenture issue December 31, 1931

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 Taols in mortgages, all of which has been repaid, principal

with interest.

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 should 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 allocato to dépositors a part of profits earned on their money over and above current rates of interests. 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 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 are receiving less-than 8% upon your investments and or savings, you are not using judgment but following old customs, believing 5% and 6% are current rates."

CHINA

REALTY

CO.

Fed. Inc., U.S.A. "The Real Estate Market Place of Shanghai,” 70. SZECHUEN ROAD

BEPPU

EXPERT.MASSAGI No. 308, Nathan Road, 2nd Floor,

CANTON AGENTS

for

Hongkong Telegraph.

THE SHAMEEN PRINTING

PRESS. LTD.

83, B.C. Shameen, (Nr. British Bridget. Tel: 12037.

PICKLED

BALTIC

FINEST

SHANGHAI.

TUESDAY, JANUARY 3, 1933.

BALTIC HERRINGS.

BISMARK HERRINGS.

“MATIES” HERRINGS.

SALT-FULL-GROWN HERRINGS.

HONGKONG STORE: French Bank Bldg., 1st Floor,

6, Queen's Road Central, Tel. 30460.

HABADE [Eamburg Bakery & Deileacles)

KOWLOON STORE: 22, Hankow Head. (Opposite Star Theatr Tel. 58833,

‚K.C. C. ENTERTAIN

CHILDREN.

GOVERNOR AND LADY PEEL. AT SPORTS

His Excellency the Governor and Lady Peel visited the Kowloon Cricket Club grounds yesterday afternoon when the annual sports for children, organised by the club committee, were held.

Twelve races for girls and 12 for boys constituted the programino. Afternoon tea was served between & and 4.30 p.m.

A the conclusion of the sports, Mr. E. Abrahama, vice-president of the Club, Introduced Lady Pool, who presented the prizes.

Mr. Abraham congratulated the committee on the result of its work and offered the club's sincero thanks to the Governor and Lady Peel for attending. This sports meeting, he Bald, was the 27th of its kind or ganised by the K.C.C.

Subsequently, Sir William con- gratulated the committee and all who had been responsible for the afternoon's sports. The K.C.C., ho said, was like the old woman who lived in a shoe in one respect-that was the number of children, but the Club certainly knew what to do for them.

"Children who did not win prizes

at the sports, received a present from the toy tent.

The band from H.M.S. Suffolk played during the afternoon.

The following were the resulta of the sports:

The following were the results of the sports:

Girls' Events.

Skipping race (11 to 14 youTS)....... Doria Frith 1, Marie Smith 2, Betty Penny J.

Flat Raco (8 to 9 years)-Maureen Sullivan 1, Dorothy McCaw 2, Audrey Ablong 3.

Skipping raco (8 to 10 years)---- Jean London 1, Allison Fisker 2, Emily McKelvio 3.

Flat race (4 to 6 years)-Jean

THE

BLUE FUNNEL

LINE

REGULAR AND FAST PASSENGER SERVICES

FREIGHT AND

LONDON SERVICE AGAMEMNON 4th Jan.

PATROQLUS 18th Jan.

For Marcillos, Tondon,

Rotterdam & Hamburg For

Marseilles, London,

Boiterdam & Glasgow

LIVERPOOL SERVICE MAOILAON 11th Jan. For Eaves, Liverpool & Glasgow NEW YORK SERVICE

11th Jen.

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For Bosina, New York & Baltimor

via Philippines & Diexit. “

PACIFIC SERVICE

TY SPARE01 din Jan. Por Victoria, Banitis & VanooATIT PROTEKLAUS 25th Jin. For Victoria, Seattle & Vancouver INWARD SERVICE

1

MEDON

Due 4.1 3.. For 8'hal, Moji, Kobe & Yoko.

Specially reduced faces are quoted for sargo-steamers with

limited passenger accommodation.

For freight, passage rates and information apply to the

under-mentioned.

All bookings are abfent to the provisions of the Company's

Bill of Lading.

Halo 1, Audrey Ablong 2, Froda BUTTERFIELD & SWIRE.

Smith J.

Potato race (10 to 14 years)- Mario Smith 1, M. McCaw 2, Allison Fisher 8.

Skipping race (under 8 years)— Joan Robinson 1, May Brown 2, June Tinson 3.

Flat race (up to 14)-Jean London

1, D. McCaw 2, Froda Gabrial ).

Musical Chairs (8 to 14 ycurg)..........

Elsie Lane 1, C. Silva 2, Betty Scriven

3.

1.

P.

Egg and ареол га (up to 14 years)-Emily McKelvlo Buchanan 2, G. Nives 3.

Flat race (6 to 14 years)-Freda Gabriel 1, Pauline Baxter 2, Freda Smith 8.

Relay race (9 to 14 years)—M, Noronha, Betty Scriven, Doris Frith and May Lay.

Consolation race (up to 14 years)—– Paulino Buchanan 1, Georgette Crossthwaite 2, Betty Goodwin 3,

Boys' Events.

Potato race (10 to 13 years)a Victor Garcia, Anthony Rale and. C. Rozario.

Boot raco (under 12 years) ----J. Marques 1, Ackber Khan 2, Joseph Marques 3.

Obstacle race (10 to 14 years)- Charlie Gardner, George Ablong and N. Leo.

Relay raco (10 to 14 years)—. Joseph Pariera, C. Rozario, Anthony Reis and Alfred Wong. ---

Flat raca (8 to p years)---F. Gonzalca, J. Gozano and Joseph Gogano.

Sack raco (8 to 14 years)-P. Egan 1, Ackbor Khan 2, Jack Lanaler B.

Tug-of-War.-L. Gozano, Victor Garcia, D. Silva, F. Smith, A. Roza, E. Stono, H. Sulse and E. Silva.

Flat race (4 to 7 years)-J. Gozano, V. Silva and R. Hoare,

Three-legged race (10 to 14 years). -F. Smith and A. Roza 1, G. Glover and E. Frith 2, G. Arnold and N. Los

3.

Flat raco (8 to 10 years)—J, Gozano, E. Gonzales and A. Odell.

Wheelbarrow race (to 14 years)

and -John Egan

E. Frith I, Joseph Perotra and Charllo Gardner 2, Leo Souza and F. Siva 3.

Consolation raco (up to 14 years) -B. Pinquet 1, P. Castro 2,.D. Buchanan 3.

BULGARIAN CABINET.

RECONSTITUTED WITH BUT LITTLE ALTERATION

Sofia, Jan. 1.

M. MouchanoЛ has re-consti- tuted the Cabinet with

n few changes. Ho has not yet reached an agreement with the Liberals to whom two portfolios were offer- ed. Reuter.

The Bulgarian Cabinet resigned on December 28 and M. Mou- chanoff was invited by the King to form a now one. No crials was expected as the result of the change of regime.

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CLARKES

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PRESIDENT

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HONGKONG (

HONORE

JAN PLANCESCO

BALKA

WH

Weekly Sailings Transpacific

To San Francisco, Los

Angeles & New York

via Panama

To Seattle and Victoria

Fortnightly sailings on Wednesdays, Fortnightly sailings on Saturdays.

Pres. Colidge .... Jan. 4, 3 x.m. Pres, Wilson

Pree, Hoover

Pres. Madison,.... Jan. 7, 5 a.m.

Jan. 18 Feb. 1

Pren. Cleveland

Prea, Taft

Jan. 11 Feb. 4

ROUND TRIP FARES TO EUROPE & AMERICA. · Special through rates to Europa vis United States. Diroct connections with all Atlantic iines. Choice of rail lines across United States and Canada, liberal atop-over privileges for sight-seeing. Full particulars upon application.

Fortnightly via Sucz to Europe & America

Fortnightly sailings on Saturdays win Manila, Straits, Colombo, Bombay, Bues Canal, Alexandria, Naples, Genoa, Marseilles, New York & Boston Pres. Van Buren ....... Jan. 7 Pres, Garfield ......................... Jun. 21

Next Sailing

Pres. Polk Pres. Adams

TO MANILA

Feb. 4 Fob. 18

Pres. Van Buren Jan. 7. 1

Pres. Wilson

Jan. 10 Pres. Garfield .......... Jan. 2 Pres, Cleveland ...... Jan. 24 Pres. Hoover ......................... Jan. 24:

CONNECTING WITH 5.5. MAYON TO CEBU, ILOILO,

THE

ZAMBOANGA.

DOLLAR STEAMSHIP LINES 3 AND AMERICAN MAIL LINE

CANTON BRANCH- No. 4 Shiakoo Strest.

SWEDISH EAST ASIATIC

CO. LTD

SERVICE OF EAST MOTOR VESSELS (with Limited, but exceptionally good, passenger accommodation). Homewards to:

| Port Said, Genoa, Marseilles, Algfors, Oran, Rotterdam (Amsterdam),

Hamburg, Oslo, Gothenburg and other Scandinavian Ports.

via

Manila and Straits Settlements.

M.V. “PEIPING"

Outwards to:

Sailing about 20th Jus.

SHANGHAI & JAPAN PORTS.

Salling about

M.V. "FORMOSA"

Passenger Rates:

24th Jan.

£57

Agests:

Hong Kong to Genoa/Marsaljles Hong Kong to Ist North Continental Porta

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