1933-02-16 — Page 23

RECORD YEAR FOR TRAMWAYS

BUT HEAVY LOSSES ON BUSES

BRIGHT PROSPECT

A record year, was reported at the shareholders meeting of the Hongkong Tramways, Ltd., held to-day, when Mr. A. B. Stewart, who presided, stated

that the number of passengers on the Shaukiwan route in- creased last year by nearly one and a quarter millions and that present indications were that the three-minuto service might soon become inadequate.

It was also announced that motor buses had involved the Com- lose during the year pany in approximating $98,000, of which $85,000 was in respect of Kowloon, and the accumulated lossen on busca during four years had been $242,000.

Reference was also made to the Company's tenders for the road

transport concessions, which were not accepted. the Chairman describing the Company's offer in respect of the island as "very high."

Some of the conditions with which tend- erers were required to comply ap- peared to your Directors to be of

and on the mainland.

THE HONGKONG TELEGRAPH. THURSDAY, FEBRUARY 16,

ST. JOSEPH'S LOSE

such drastle and onerous nature Rough and Tumble Sort

that, in the case of the mainland, it was found impossible to accept them.

To deal with the mainland first, the outstanding condition which we regarded as the most danger. ous was the provision that no tender for the licence or licences should be other than a royalty by way of percentage on gross re- ceipts.

of Football

ATHLETIC SPORTS.

Jat Regiment Holds Its Annual Meet.

"C" COY. CHAMPIONS. Frayed tempers and doubtful tactics spoilt St. Joseph's foot-

The Kowloon Cricket Club ground ball match with the San Beda yesterday, was a blaze of colour, the A.C., played in Manila on Sun- occasion being the annual sports day, when the San Beda, cham-meeting of the Jat Regiment. The pion team of the Philippine Is-

green blazers and white headgear of lands, won by three goals to sharply with

the Indian regiment contrasted the background, und lent a picturesque effect.

Many distinguished vlaitera

one.

Tudangca the Bedon's centre

half was sent off the field shortly after the start of the second half, and throughout the gumo It was a case of "play the man, rather than the ball."

present among the largo gathering among them being Major-Gen. and

To quote from a leading article in the Hongkong Daily Preas on January 20th Inst. comparing motor bus problems here with

Mrs. Borrett, Col. Boyd, and Misa similar problems in Northern Ire- land; which had recently been un-

Jean Boyd, and Mrs. Nosworthy, Col. der consideration by a tribunal

and Mrs. Myles, Lt. Col. and Mrs. of experts:-"One of the findings

Maradon, Lt. Col. and Mrs. Rafkes, The Hongkong team opened Lt. Col. 'Thom, Lt-Col. Boyes, Col. of the Tribunal was that fares well, B. Gosano netting from and Mrs. Bird and. Miles Dird, Code. have to be such as will cover worite penalty in the first five minutes, M. Smith, Cindr, and Mrs. Wright, ing expenses and general charges, but Bedan'a deservedly equalised, Cmdr. and Lady Mary Barton, Mr. provide reasonably for renewals, although Marques was at fault in Dont and Lady Furnival, Hon. Mr. depreciation and

reserve, and fumbling a fast shot. It allowed Wolfe, Inspector General of Folles, afford a reasonable return upon Tronqued to rush in and beat him, Mr. Potts, Lt-Col. W. L. Halles, M.C., Officer Commanding the Jats, the amount of capital necessarily

Changing over on level terms, and several offeers in the British and properly invested in the pas- the Saints were early on the

de-Army. senger road transport undertak-fence and despite the fact that they

The meeting was an outstanding ing.

Estimates based on the experi- lost a player the Bedan's enjoyed success, and keen competition ence gained in operating the Kalmost of the game. Azaula obtain-valled. "B" Company, which won Tack Motor Bus Company indicated the winners' second goal follow-the championship cup for the last

"C" Company first with 44 ed that the reasonable require-ing a fast movement up field, and two years, came second monta outlined above were unlike just before the close, Costa, the

Saints* centerhalf conceded

ted.

24

ly to be realised under present penalty from which Miranda net- conditions and to offer a percen- inge of grosя receipts by way of royalty was therefore out of the question.

ACCUMULATED LOSSES.

CHAIRMAN'S SPEECH Addressing the meeting, the

other net sundry earnings as per Chairman said:-We have had a

the Profit & Loss Account, the very good year. Traffle receipin The accumulated losses on this very gratifying result of $1,029,- were $2,682,691 or approximately subsidiary for the four years

pront of $119,- 456.60-belag aix per cent, moro than in 1931,

1929/1932 are $242,000, of which 842.06 greater than in 1931-is passengers numbered 35,541,995 $230,000 is in respect of the past returned for the year in review. and car-miles operated were three years. Admittedly we are

The farther amount of $155,- 3,325,068, whilst the net prot not operating on the best routes

462.36 brought forward from the amounia to $1,029,456, if an ex-

in Kowloon but this substantial 1931 accounts makes ceptional profit on investments in mual loss-without any provi-balance of 31,184,918.95. the year 1924 be excluded it eansion for roynity-must make a ser- be said that traffic recepits ear-

fous inrond on any profit which milen operated, passengers carried:

on remunerative may be earned and net profit all reach figures routes. which are the highest in the com

When it is realised that a 30-

1 total

Goodwill & Construction Expenses or this $68,000 is written-off to as annually hitherto; an appro- priation of $100,000 is passed to General Reserve in accordance mentioned in my speech last year; and, $100,000 has been transferred to the Investment & Loan Reserve Account.

pre-

with the points. The speciators race was won by Lt. and Mrs. Webb, R.A.

At the conclusion of the meet, Mrs. Henry, wife of Major J. R. A. Henry, Jat Regiment, distributed the prizes. The Pipe band of the Jnt Regiment was in attendance.

Resalte

100 parda relay.-C. Coy. A Coy; High Jump.--B Coy, A Coy; 446 yards relay--C Coy: A Coy; Putting the shot.-C Coy, q. Wing; Folo Jump-C Coy, Machine Gun Coy; 220 yards relay C Coy, B Coy: Throwing the Discus-B Coy, 11.0. Wing: 3 Miles raco-Machine Gun Coy, C Coy: Long Jump-B Coy, HQ Wing; Medley Race-B Coy, Coy, Coy: 880 yards rolayA Coy, C Coy: Tug-of-war--Muching Gun C Coy: Hurdles relay. Coy, Min- chine Gun Coy: Pagal relay. Coy. B Coy: Old Soldlers Race.C Coy, coins, 20th Battery.

Championship Coy, B Coy, A Coy, Machine Gun Coy, H. Q. Wing.

pany's records. This, I think, you senter bus must carn about £250 with the policy in this regard B Cay: Open Medley relay.-Lin- will agree is highly satisfactory. profit per annum to meet depre- It will be remembered that a ciation charges alone the difficul- the closing months of 1931 the ty of meeting royalty payments rails of both tracks between Ped-on gross receipts with the local der Street and City Hall were dollar below 1/4d. will be appre- renewed. During the autumn of

ciated. last year the track between Cliy Hall and Arsenal Street was dealt with similarly, so that we now have new rails all the way be.

tween Pedder Street nad Cause Way Bay the length between Causeway Bay and Aratnal Street having been completed during

1930.

NEW TRUCKS,

The work and expense of re-

pincing all old Krill trucks with modern long wheel-base trucks fit ted with, new motors has been pushed forward and 57 out of the 91 tramenrs have now been so converted. All cars have been

in the Quarry Bay area where we expect to build a subsidiary de- pot when the new Shaukiwan Road

la completed.

Traffic on the Shaukiwan see tion continues to grow. I told you last year that there were strong

I have heard it suggested that a royalty based on net profite may be found either unworkable or difficult to assess, but so long as proper accounts are kept I can- not see why there should be any difficulty. In the case of this Company, the system has worked perfectly smoothly for many wonra.

After careful consideration it was decided to offer to operate the mainland services on certain conditions and two schemes were submitted.

TWO SCHEMES.

reasonably necessary

HIGHER DIVIDED,

An interim dividend of $325,000′′| The Directors now recommend was paid on 15th August lust. final distribution of 70 cents per share to $455,000, making a total

dividend for 1932 of $1.20 per share. This represents crease of 25% over the last dividend declaration.

LEADERS NEEDED

(Continued from Page 6.)

to the front in any great nation a single great leader who by sheur force of character and intellect

might guide all nations into the

Those timid isolationists

who

sift

on in-way of sanity and wisdom is due inrgely to the fact that the political world is still inhabited There remains a balance of

by third-class minds. $130,918.96 to be carried forward to the next account. The allociation have come casually to the head of of $100.000 to "Investment & Loan affairs do not possess the requisite Reserve Account" is a further knowledge to trust their -own necessary provision on account of judgment in these catastrophie our unprofitable Motor-Bus sub-times: and their knowledge is so Scheme No. 1 provided for cer-sidiaries. This appropriation to limited and inexact that they are equipped with an improved type tain trolley vehicle routes and gether with that of the previous unable, even if willing to of sanding gear which should en- such oil-engined and petrol-engin-year creates a reserve of $200,000 and use the knowledge of out- able motormen to pull up more ed bus routes as were regarded against "Motor Transport Invest-alde advisers to whom Providence

and ments & Loans" on the opposite rapidly on . greasy rail. The as

have a less shadowy and more tramear depot has been slightly which would return at least the ride of the account, and it is anti-has been a little kinder and who

Under pated that this figure will be suf

scfentifc conception of the extended to accomodate a further bare cost of operation. five tramcara and, as foreshadow this acheme we offered Govern- ficient to cover any losses in this

realities. connexion hel otherwise provided. ed last year, we have acquired a ment 25% of the net profits.

The new head, "Investments" at a Conservative conference re- One is encouraged to note that 2 Scheme No. valuable site on reasonable terms

WAR entirely different and called for equal $363,171, appearing among the cently an audacious speaker com- plained openly of the feeble- partnership between Government assests represents the investment

members of and your Company. Each would of surplus funds, not immediately mindedness of the

in carefully selected his party In Parliament, and ex- have held 50% of the shares in the required, mainland mechanical transport dividend bearing shares of certain

Inability of modern Conservatism undertaking. Government would local companies and Government pressed his impatience at the to do more than "reiterate the not have received anything by way loans. of royalty but would have partici

policies of Joseph Chamberlain." indications that this route would pnted in dividends (if any) to the calling for particular mention. Still more unusual, and rather on of the then four minutes servirextent of their holding as ordinary The additional expenditure of the wistful side, was a resolution

"Other Property" in the immediate future. Pass shareholders of the Mainland Com- $126,796 to

account represents the land pur- tual" case for Conservation.

which emphasised the "intellec- ongers on our Shaukiwan route pay,

Neither scheme commended it- chase effected at Quarry Bay as

There is, I am afraid, no indica- increased last year by nearly 1% self to Government, who accepted the site for eventual construction millions and I can now say there the tender of the Kowloon Motor of a supplementary depot to which tion anywhere of the appearance are indications that the present Bus Company.

I have previously referred,

of a great political leader in this it la possible three minutes service may soon

I now have to propose:-"That or any country. As regards the island services, become inadequate.

To cope with this situation from was considered that a reasonable the Report of the Directors and that in the next two or three profit on operation might be antici- the Statement of Accounts of the critical years he may spring from an electrical point of view We have, during the year, purchasedated and a tender (lu my view, Company, as presented, for the the party which "reiterates the a very high tender) on the cond-year ended 31st December, 1932, policies of Joseph Chamberlain.“

But only just possible. the equipment for an entirely ad- tions laid down was submitted.. be adopted, and that a Final ditional traction sub-station and This was not accepted and it Dividend of 70 cents per share for this has been installed for us by must be presumed that the success. the year 1932 b and is hereby the Hongkong Electric Co. Ltd. inful tenderer the China Motor Bus sanctioned." their Ming Yuen premises.

The number of cars operate on the Shaukiwan route is now only limited by the stret- ches of single track which re- main and which will, of course, disappear when we have been enabled to lay our new double track on the completed 100 feet rood.

require a three minutes instead

can ንየን

LOSS ON MOTOR BUSES. Motor buses, involved us in a total loss (after providing for ile-

There is only one other item

Company-offered Government an

When this has been duly second- even greater royalty than we founded, I shall be glad to reply to any it economically possible to put questions which shareholders may

wish to ask. forward.

The fleet of Dennis buses on the mainland in addition to Guy buses

are

OTHER BUSINESS.

of

on this side of the Harbour have The Hon. Mr. T. N. Chau second. been excellently maintained and ed, and the report and accounts

in Arst-class condition, were adopted, Negotiations for the sale of these

The Hon, Sir Shou-son Chow buses are proceeding.

Board! was appointed to the Directors and Messrs. A. Stewart and Chon Po Sion, retir. Ing Directors, were re-elected on the motion of Mr. D. V. Stenven-

HIGHER RECEIPTS.

Before coming to the accounts preciation) of approximately $98.-It may not be out of place to in 000, $13,000 on this aide and $85.- form you that I have seen the san, seconded by Mr. F. Austin. 000 in connexion with our sub-tramway figures for last month. Меняга. Lowe, Bingham and sidiary, the Kai Tack Motor Bua Not only are the receipts higher Matthews were re-elected Auditors Company. In view of what I am than in any previous January but upon the motion of Mr. J. F. about to sny on the

the number of passengers carried Wright, Jr., seconded by Mr. B. entirely changed outlook in the during the last 10 days of the Wong Tape. motor bus situation you will not month-1,154,612 (excluding rides Those present at the meeting expect me to take up your time by monthly ticket holders)-marks were Mr. A. B. Stewart (Chair- with details of motor bus receipts a new high record for a China Newman), Mr. A. H. Compton, Mr. and expenditure during the past Year period just as January 26th. E. Joseph, the Hon. Mr. C. G. S.

with receipta $9,635 and passon- Macilo, the Hon.

year.

TENDERS FOR ROAD TRANSPORT.

THE ARGENTINE. MISSION COMMITTEES NOW APPOINTED

ro-

London, Feb. 15. The President of the Board of Trade to-day received Dr. Julio Roca and other members of the Argentine Mission who are maining in this country on the con- clusion of their official visit in connexion with the trado negotlu tions between the two countries.

Statements of the Argentine and United Kingdom points of view wore exchanged, and committees were set up for the purpose of examining further various aspects of the situation.-British Wireless,

سے

THE MACAO JOCKEY CLUB.

and Sir Shou-800 PROGRAMMES

ENTRY

gers 163,000, bents our previous Chow, (Directors), Mr. L. C. F. FORMS for the Spring Raco Mock- record for China New Year's eve. Bellamy, (General Manager), Mr. ing to be held in Macao on

To deal with the accounts, W, 1. Simmons (Secretary) and

obtained at the Sports Club,

Porey

On September 2nd Inst. Govern-have already referred to the record the following shareholders: M Sunday, 12th March, 1939, may be ment announced the termination, traffic revenue of $2,082,691.80. D. V. Steavenson, the Hon Mr. T. as fra June 10th next, of all The operating expenses, amount N. Chau, Mr. G. F. Hubbard, Mr. existing permits for motor bus ing in total to 8888,086.34, are F Austin, Mr. J. F. Wright, Jr. operation within the Colony and slightly less than in the previous Mr. J. D. Kinaird, Mr. B. Wong invited tonders for the exclusive year. After charging. Deprecia-Tapa, Mr. W. Allen, Mr. W. Choy. maintenance of motor bus services tion and Government Royalty and Mr. C. H. Wilson, Mr H. Owen-

alland, of Hongkong - Including Investment, Interset and Hughes and Mr. Chor, Beng-ahoo.ITN

Hongkong Jockey Club Stables, or at the Offices of Messrn. Smith, Seth & Fleming, & Des Voeux Road, Central.

ENTRIES close at 4pm. on

SHARE PRICES

TO-DAY'S QUOTATIONS

The following is the list of local hare quotations issued to-day:

Banks.

Hongkong Banks, $1,770 n. H'kong Banks, Lon., £120 n. Chartered Bank, £14 n. Mercantile Bank, A. & B.

£241⁄2 n. Mercantile Bank C., £9% n. East Asin, $108 n.

Am: 0. Finance Corp., $28 n. China O. Fin. Ord., Tis. 6 p. China A. Fin. Prof. Tla. 4.60 ¤.

Insurances,

Canton Ins., $1,876 b. Union Ins., $570 sa. China Underwriters, $2.50 s. Chinn Fire $020 m. H.K. Fire Tus., $1350 n. International Assco, Tls. 4.10 n.

Shipping.

Douglas, $80 b. H.K. Steamboats, $22 b. Indo-Chinas, (Prof.) $45 n. Ido-Chinas (Def.), $82 n. Shell (Bearer), 48/1% n. Union Waterboats, $20% n.

Mining.

Bonguets, $17 n. Kailane, 22/9 n. Langkata (Single), Tla.4 n. S'hal Explorations, Tis.2.10 n. S'hal Loans, Tia.2.80 n. Venz: Goldfields, $4.20 n. Benguet Exp., 23 cts. n.

Docks, etc.

II.K. Wharves, $144 n. H.K. Docks, $20 n.

S. China Motors A., $10 n. 8. China Motor B., $8 n. Providents (old), $4.60 s. Providenta (new), $1.90 n. Hongkowe, Tis, 220 n. New Engineerings. Tis.6.20 p. Shanghai Docks, Tis. 90 n.

Lands, Hotels, etc. Hotels (old), 39 a. Hotels (new), $7.80 n. H.K. Lands, $75% n. X. Div. S'hal, Lands, Tis. 25% n.

1933.

Metropolitan Lands, Tia. 10 n. Humphreys, $14.36 n. Asia Realties "A", 8140 u Asia Realtica "B", $28 n. Chineas Estatos, 305 b. China Realties, Tis.11.40 m. China Debentures Tls.091⁄2 n.

Cotton Milla.

Ewo Cottona, Tis. 14 «. S'hai Cottone, Tls. 71 n. Zoong Singa, Tis. 11.70 n. Wing On Textiles (S.) 115 n

Public Utilities. Tramway, 321.20 ̊ n. Peak Trams (old), $16.20 n. Star Ferrics, $90 an. Yaumati Ferries (old), 3341⁄2 n. Yaumati Ferries (now, $33% n 'China Light (old), $12, HK. Electric 8764 n. -Macao Electric $24.65 b. Sandakan Lights, $12 n. Talophones (old), $80 n. Telephones (new), $27 n. China Buses, Tia.10′ n. Singapore Tractions, 2/- n. Singapore Pref. 12/- n..

Industries.

Malabon Sugars $271⁄2 e. Cald: Macy. Ord.), -Tis,14 n. Cald: Macg. Pref.), Tis.10% 2. Canton Iceă, $6 n.

Comenta (Com.), $8.80 s. Cements (old) $7 n. Coments (new). $3 n. H.K. Ropes, $11.30 n. Agriculturals, $7 n.

Stores, etc.

Dairy Farms, 320 b. Watsons (old), $12.76 n. Watsons (new), 311.40 n. Dor. A. Wings, $i n. Sincores $15.00 b. Lane Crawfords. $5.40 m. Mackintosha, $21 n. Wm. Powells, $3.85. Wing On (H.K.) $225 n.

Miscellaneou29. Amusements, $12% n. Entertainments, $13.40 n. 5.C. Enterprises, 331⁄4 n. United Theatres Tla. 5.25 b. Mucno "Greyhounds," $10 n. Construction (old), $6.10 n. Construction (now), $1.40 n. Wallace Harpers, $9 n. B. Ind. G.S Bands. $66% D. China Sport Ltd., $8 m.

"ZAMBRENE”

Raincoats, the best the world produces, and Entirely British:

These are being retailed permanently at Home- retail prices at our Kowloon showrooms.

Bernards' Gentlemen's Outfitters.

No. 1. Austin Road, Kowloon.

SPORT ADVTS.

THE HONG KONG JOCKEY CLUB.

ANNUAL RACE MEETING, 1935 18th, 20th, 21st, 22nd and 26th, February, 1918,

i

On Saturday 18th, Monday 20th, Tuesday 31st, and Wednesday 22nd, February, the first boll will be rung at | 11 a.m., and the first raco will be run at 11.30 am. On Saturday, the 25th February, the first boll will be rung at 1:30 p.m.,, and the first race will be run at 2.00 p.m..

The tin interval will be taken after the fifth race in the first four days.

MEMBERS' BADGES AND ENCLOSURE Members are reminded that they and their ladies must wear their badges prominently displayod.

No one without a badge will be ladmitted to the Members' "Enclosure. Badges admitting non-members to the Members' Enclosure and Club Rooms at $10.00 per day including tax or $40.00 including tax for the Meating (adles $5.00 and $20.00 respectively), aro obtainable through the Secretary upon introduction by a Member, such Member to be respon- sible for all chits, ote.

Badges admitting to Members' En- closure will NOT be qu sale at the Race Course.

Tho Secretary's Offico, Brd Floor, Gloucester Building, (Tol. 27704), will close at 10 am. on the first four days, and at 12.30 p.m. on the fifth day.

A limited number of Tiffins will be obtainable each day at the Club Hausa, provided they are ordered in advanco from the No. 1 Boy, Tele- phone No. 21920.

On no pretext will children be per- mitted in either enclosure during the first four days of the Meeting.

PUBLIC ENCLOSURE,

The price of admission to the Public Enclosure Is $4.00 per day Including tax for all persons including ladies, and is payable at the Gate:

Soldiers and Sailors in uniform are admitted to the Public Enclosure at $1.00 per day including tax.

Bookmakers, Tic Tac men otc. will not be permitted to operate within the precincts of The Hong Kong Jockey Club during the Baco Meet- ing.

Tins will be obtaluable in the Restaurant in the Public Enclosure, BERVANTS' PASSES.

Passen for Servanta will be taped on application to the Becretary, Erd Floor, Gloucester Building.

Employers are requested to dis tribute them with discrimination and

endorso their

the

to passes.

ст names

Servants are not permitted in the Members' Enclosure except for passing through on their duties but must remain in their employers" stands.

Any persons found loitering with Servants' passes in their possession will forfeit the same and will be removed from the enclosure.

By Order,

C. D. BROWN,

Secretary. Hongkong, 6th February, 1033.

REFRIGERATION

FOR EVERY NEED

SUMMER IS NOW ON THE WAY-BE PREPARED

STOCKS OF THE FOLLOWING ON HAND,

HOUSEHOLD CABINETS.

Prices From H.K.$300.

ELECTROLUX

BRITISH MADE.

Operated by electricity

Kerosine

Oil or Cas.

Air cooled and water

cooled..

SABROE

GIBSON

AMERICAN MADE.

Monounit Electric Models. Interior Illumination. All Sizes.

COMMERCIAL CABINETS

Showcases, Counters, Soda Fountains and Cabinets.

ENQUIRIES INVITED-ESTIMATES FREE

—AIR CONDITIONING—

COPELAND

Room Coolers and Dehumidifiers for Restaurants, Stores Shops Offices and the home. Copeland room cooling meets every practical requirement.

TECHNICAL STAFF AVAILABLE FOR PREPARING ESTIMATES,

SOLE AGENTS

SHEWAN TOMES & CO.

PHONE No. 27781

St. Georges Building.

HONG KONG and CANTO