1934-09-20 — Page 16

This Prospectus has been filed with the Registrar of Companica, pursuant to Section 30 of the Companies Ordinance 1032.

The subscription list will be opened at 10 a.m. on Friday the 21st day of September 1934 and will be closed at or before 3 p.m. on the same day.

THE HONGKONG LAND INVESTMENT AND AGENCY COMPANY LIMITED.

Incorporated on the 2nd day of March, 1880 under the Companies Ordinancea of Hongkong.

Authorised Capital $10,000,000.00 divided into 400,000 shares of $25.00 cach,

Issued and fully paid-up Capital $7,500,000.00.

Issue of $2,000,000.00 4% Debentures at Par.

The present inue of $2,000,000,00 worth of Debenturer now offered for subscription nt par forms part of a series of $6,000,000,00 worth of Debentures created by a Revolution of the Board of Directors pussed in accordance with the provisions of the Memorandum and Articles of the Company. The present issue of $2,000,000,00 now offered for subscription and any further issue of the balance of the peries or any re-issue will all le pari am as a first charge on the undertaking, property and nagels of the Catinny both present and future without any preference or priority ene geer anther and such charge in to be a floating security.

The Debentures now offered will be issued in dorwminations of $5,000.00, $1,000.00 and $5000.00 ruch respectively.

Repayment.

All the Debentures now offered will be repaid not later than 30th September, 1954, at par but may at the option of the Company be redeemed nt par elther on the 30th September, 1944, or on any date thereafter axed for payment of interest by giving six calendar months' previous notice.

Interest.

The Arst payment of interest will be made on the 31st day of March, 1938, calculated from the date of nilotment and thenceforward half-yently un the 31st day of March and the 30th day of September in each year.

Debentures will be transferable by daly registered transfers.in the form prezribed. The Register of Debenture Holders will be kept at the Camping Registered Ufice, Hong Kong.

PROSPECTUS

The Bungkong and investment and Agency Company, Limited, is well-known throughout the Far East and is British nited Company incorporated on the 2àd day of March, 1889, under the Companies Ordinances (Hong Kong) for the purpokra aut forth in its Memorandum of Association. The proceeds of this issue (together with the proceeds of any further inue in reissue of this series) will be employed generally in carrying aut the plans of development already in progress on the Company's properties and for farther working capital as may become necessary in connection with the Lunjaees of the Company. In particular such proceeds will be employed in building a block of modern flats in towen Rond and in rebuildlag Queen's Road premises of the Company,

There are no outstanding mortgages or charges agnitist, the D'ompany's

རྟོta#14.

The acreants of the Company have been audited by Messer, Purey Smith, Seth & Fleming of Bank of Canton Building, Hong Kong, and by Mesra, Litisterul & Davis of Gloucester Building, Hong Kong, Joint Auditors of the Company whose. Beport for each of the three completed financial years immediately preceding the issue of this Prospeclus ns regards profits made by the Company and dividends paid la as follows:

AUDITORS' REPORT

THE CHAIRMAN AND DREXTORA,

THE ONGOng Land InVERTMENT & AGENCY CO., LTD.

HONG KONG

GENTLEMEN,

We have examined the audited accounts of your Company for the three years led 31st December, 1933, and certify that the profits for that period, computed on the basis bereinafter mentioned, were as follows:-

$1,178,976.29 $1,212,612.46 $1,131,107.12

Year ended 31st December, 1331 Year ended 31st December, 1932 Year ended 31st December, 1933 These profits are arrived at after charging all expenses of administration. maintenance, and depreciation, and after making such adjustments as in our opinion are appropriate, but before making..any provision for bonus to riaff, or appropriations to free or specific reserves or dividend. The charge for depreciation only eccurs in the necuunts for the year 1933 in respect of Gloucester Building. The profit on sale of properties in 1932 amounting to $322,526.07, together with certain small extranceus profits, have not been taken eredit for in arriving at the Company profits or above.

The sued and pald-up capital of the Company during the above period was as follows:-

As at 31st December, 1831

An al Bist December. 1932

As at 31st December, 1933

$7,485,076 $7,500,000 $7,500,000

comprising fully paid ordinary shares of the nominal value of $25 each. In respect of each of the financial years ended 31st December, 1931, 1932 and 1933, a dividend thereon

was paid at the rate of 16% or $i per share. No audited accounts liave been published since those relating to the year ended 31st December, 1933.

(Sd) PERCY SMITH, SETH & PLESUNG Į

LINSTRAD & DAVIS.

HONG KONG, 28th August, 103

Auditors.

The accounts of the Company in respect of the half-year from 1st January, 1934, to 30th June, 1934, have not been nudited by the Company's Auditors but have been made up by the Company for the purpose of paying an interim dividend and such accounts show that the profits for such half-year amounted to $622,609.53 of which umount the sum of $118,240.85 consists of profits on land sales.

An interim dividend of $1.00 per shure, in respect of such half-year (lat January, 1934, to 30th June, 1831) was declared in respect of all the issued shares of the Company,

It will be seen from the above Report on profite by the Auditors of the Company that the present surplus revenue of the Company is sufficient to pay the interest on the present issue many times ever.

The whole of the present issue of $2,000,000.00 has been underwritten by the longitong and Shanghai Banking Corporation and by Mfcaars. Jardine, Matheson & Co., Limited, who will receive between them for their

the amount so underwritten. services a commission of one per cent,

The following Contract has been made:-

Underwriting Agreement dated 4th day of September, 1934, and made between the Company of the ono part and the Hongkong and Shanghol Banking Corporation and Messrs. Jardine, Matheson & Co., Limited, of the other part being the Underwriting Agreement above mentioned,

Applications for Debentures must be accompanied by remittance in full for the amount of the Debentures applied for and sent to the Company's Blankers, the Hongkong and Shanghai Banking Corporation.

Where no allotment is made the amount paid on application will be returned in full and in case a less number of Debentures is allotted than i is applied for the excess of such amount will be refunded.

Prospectuses and Forms of Application can be obtained at the Registered Office of the Company, Queen's Building, Hong Kong, and from the innkers of the Company, the longkong and Shanghai Banking Corporation, No. 1, Queen's Road Central, Hong Kong.

Coples of the Underwriting Agreement and the Debentures above mentioned and also the Memorandum and Articles of Association of the Company can be seen at the Offices of the Company or at the Officer of Its Bankers,

HONG KONG, 17th day of September, 1834.

SMUGGLING OF GINSENG

NOT PLACED ON MANIFEST

|

THE HONGKONG TELEGRAPH.

THURSDAY,

CLASSIFIED ADVERTISEMENTS

25 WORDS $1.50 for 3 DAYS PREPAID. 50 cents For Every Additional Day Alternate Insertions 20% Extra.

If Not Prepaid a Booking Fee of 50 cents is Charged.

TO LET

TO LET-la Central district, pre-i mixes suitable for BANKS. Frontage GO feet, depth 85 feet. Modern and up-to-date buildings. Write Box No. 196, "Hongkong Telegraph."

HOTELS

AIRLIE 110TH, 23-25, Nathan Road, Kowloon, under British ownership, and i management. 2 rainutes Star Ferry. Every modern convenience. Excellent elisine. Special rates famílies. Tele- phone 7357.

G.

R.

PARTICULARS & CONDITIONS of the Sale by Publle Auction to be held on Monday, the 24th day of September, 1934, at 3 p.m. at the Oflees of the Pubile Works Department, by Order of His Excellency the Governar of one Lot of Crown Land near Stubbs Bond in the Colony of Hong Kong for a term of 75

will: years.

>f the option renewal at a Crown Rent to be fixed by the Surveyor of His

for the Majesty

King, further terms of 75 years. PARTICULARS OF THE LOT.

No of Sale

Inland

الراية علم و

Near Rural Building

Lot No 3687.

Lot No. :95.

Stubbs Road

Regutrs

G

Boundary Mratureminis

1.

Zau per kale plan

021

8 but 15,850

$184

Contran is

Kjuaje tra

'ptet Price

B.

33.988

PARTICULARS & CONDITIONS

of the Sale by Public Auction to be held on Monday, the 24th day of September, 1934, at 3j p.m. at the Offices of the Public Works Department, by Order

of His Excellency the Governor of one Lot of Crown Land near Stubbs Road in the Colony of Hong Kong for a term of 75

with the option of years, renewal at a Crown Rent to be ixed by the Surveyor of His Majesty the King.. for

further term of 75 years.

PARTICULARS OF THE LOT.

No. of sale

Lot No 3895

Registry No.

Near Rural Building

Locality

Stubbs Rand.

pue

Lot No. 183,

Boundary Measurementa.

N.

K

feet feet teer

As por mul

Han

Cantenia in

sq. feet

Annual

Rental

Cpset Price!

DAZS

200 07

HAND ALMOST BLOWN OFF

$5,000

FISHERMAN'S USE OF

DYNAMITE

Frightful injuries were suffered by Chang Ting-kwon, 38, a fisher- was admitted to the man, who

Your Last Chance For Photo Prizes

Star's Name

- Descriptive Line

(5

The end of the trail. Above you see the last of these photographer's mistakes which have been reproduced in these pages for the last five days, To-day'a is a sticker -even though, the picture shows two

SEPTEMBER 20,

1934.

NEW ADVERTISEMENTS. PROTECTING · ASSETS

.HONGKONG & SHANGHAI

INTERPORT POLO DINNEIL

IN BANKRUPTCY

(Continued from Page: 1.)

ment creditor by which he would| The above dinner will be held share the assets with them.

After quoting authorities on the at 8:13 p.m. on Saturday, Septem- her 29th at the Gloucester Build-matter, the Official Recolver said ing. Will members of The Hong- he had no evidence of collusion be keng Polo Club intending to between the debtor and the petition present kindly notify Captain J.ing ereditor, but the debtor ald 1. Jordan of Murray Barracks at admit at his public examination

that they were friends. an early date.

NOTICE.

THE HONGKONG TRUST CORFORATION, LTD. Nottes is hereby given that Mi. 1. H. H. Prlesticy having resigned from the Board of Directors of the Corporation, on the 17th September 1934, bis Authority to sign, or act On behalf of the Corporation is now determined.

Hongkong, 20th September, 1934.

NOTICE

ARNHOLD & COMPANY, LTD.

Notice is hereby given that Mr. H. H. H. Priestley having resigned from the Board of Directors of the Company, on the 17th September 1931, his Authority to on behalf of the sign or act Company is now determined,

Hongkong, 20th September, 1934.

NOTICE.

With regard to the conduct of Lo Wan-ping, the managing part- ner, no definite report could be made. He had said that when the petition was made, he was at Canton, whither he had fled avoid being "snulted by his creditors."

to

MANILA STOCK EXCHANGE

PHILPPINE GOLD SHARE QUOTATIONS ·

To-day's quotations as received by Mosars, Swan, Culbertson and Fritz shortly after the close of the morning session of the Manila Stock Exchange are as follows:-

Price In Pr

Anked to Bates Volume Price I'rien in Fevor Autamok Coldfields 0.50 0.09 0,50 1000 6.37 *000 the Gold $5iminar 0.31 0.84 Benguet - Conantfifatet 34,00 13.50 $4.00 2000 Gold River

0.18 0.17 0.1B 3000 1.70 1.00

no Golt Sines

Itogon Mining Co,

Jacot Mining Co.

4.20 4.00 5,00 3000

0.34 0.33 1000

Sure Consolidatel infled areale needy. Volume Pes 45,000,

0.34 0.12 2.1 1000 0,35 0.20 D. 0,1D 1000 8. C. & F. Gali sħaze Index 12.1. Market

n

COMMERCIAL MORALITY.

Inture In its wisdom ruled that bankruptcy proceedings were A Continuing, the Official Receiver

waste of time and money. Bald "The question. i respect-

"The figure is, of course, fully submit, is whether this is u case in which the Court should purely arbitrary one and although

Ju provision

its present discretion to annul the exercise its

novel, yet the the adjudication order....I regard form the provision as to the 15 per cent, principle it enthrones is one that as of the utmost importance and has been in bankruptcy practice ita maintenance important to the and legislation morulity of commerce, If the Court holds that this is a case in which the provision as to assets can be disregarded, it will be used wholesale in almost every case of bankruptcy, until the provision is whittled away and becomes a dead letter.

century.

for over half a

DOUBT AND SUSPICION.,

"In this case I had considerabie doubt-i may say suspicion-with regard to this matter at the time (of making the order) and nothing has occurred to change my mind, The debtor in anxious that especially when I bear in mind friendly petition, adjudication should stand, but, that it was a having regard to his answers in and take into consideration Mr. the witness box. I feel sure your Lo's remarks regarding jud Lordship will not be diaposed to ment: that of the whole number pay undue regard to his wishes. of creditors a percentage of just "My Lord, I would like to stress over 75 in value have expressed the peculiar circumstances of this a wish in favour of the annul- Colony where it is so easy for ament; and, further, the quite debtor to make nwny with his open admission by the representa. assets, and that it is necessary tive of the mannging partner of that before a debtor here san the debtor firm as to his payments Notice is hereby given that Mr.obtain the advantages of bank-out and his speculation with, the H. II. H. Priestley having resigned ruptcy, that there should be at firm's money under other names frm was in from the Board of Directors of least 15 per cent. available for at a time when the the Company.

to his 17th distribution

unsecured difficulty, and, further, his visit to September 1934; his Authority to creditors. The local Legislature, Canton,

"I have no desire that anything KA or act on behalf of the recognising this fact, mado a de-

parture .from the English I say to lay should be construc practice."

as a suggestion that, because in any Mr. M. K. Lo spoke in favour particular ense the amount avali- of the annulment and was sup-able for distribution Talls short of ported by Mr. Logoby and Mr. 15 per cent. I would not be pre- Arnstrong.

E. D. SASSOON BANKING

' CO., LTD.

11

the.

Company is now determined, of Hollywood's best known comedians, to

Hongkong, 20th September, 1931. gether again in "Wonder Bar," the glamorous musical-drama

PAWNSHOP'S SAD Alhambra coming on 22nd September.

DECLINE

to

thu

These two gentlemen are known wherever movies are known. One is rather portly. the other is noted for a silly look. With that hint, you should be able to guess who

they are...

Wits that done, grasp your pencil firaily and write down the fire words which you think best describes each of them,

This is the last day of this titanic contest, you know. Four pleturea of "Wonder Bar" stars have preceded this one and it's not yet too late to get in this contest. All you have to do is get the Inst four issues of the "Telegraph" and do the necessary identi fication of each of the stars pictured there.

Then send all your material to the Management, Alumbra Theatre.

מ

"Wonder Bar," is the world. famous musical drama adapted for the screeen by Warner Bros.-First National with an all star east Including such notables as Kay Francis, Dick Powell, Al Jolson, Ricardo Cortez, Dolores Del Rio, Mal LeRoy, Hugh Herbert, Guy Kibbee, Louis Fuzenda and many others. The picture upens at the Alhambra, 22nd September,

For these

feet the

only help

on

Bata

Kowloon Hospital yesterday, chiropody

Department.

QUEENS ROAD CHINA BUILDING

ONLY ONE OF MANY PARTNERS HERE

APPLICATION OPPOSED

pared to listen with any degree of patience to an application such na this.

USEFUL CRITERION. Mr. Prior, in opposing the ap plication, said the only real

"That 16 per cent, must, in' the basin on which it rested was that nature of things, be a purely the nagets would not realise 15 arbitrary figure and one could per cent. For this purpose there intagine cases where given 10 per A sad tale of partners who left

was no difference between two cent, available for distribution the while the the Colony en masse public examination in bankruptcy per cent, and 14 per cent, and actual dividend would be very much as the former would realise quite more practicable and of more value of the Hung Cheong Pawn Shop

considerable amount, he sub-than in a case of 15 per cent. was being prepared, was told to the Chief Justice, Mr. A. D. A. Macmitted that no annulment should where tremendous costs might be involved. That is not in my mind Gregor, this morning.

The Chief Justice said: "The at all. Lau Chung-hing. J managing application is made

The partner. said the shop opened four section which introduced an in-criterion. years ago with a capital of $40,000. novation in that it described a must be given to the expressed They lont $21,000, in three years figure of 15 per cent, as represent-wishes of the real majority of the and borrowed money f from a firm

be made.

under that;

15 per cent. Is a useful Full consideration

which they knew was insolvent to liabilities below įvilch the Legal The order was annulled.

ing the ratio between-assets and creditors."--- pay off other debtors. The ilabilities were about $36.100 as against assets of about $20,000.

The Ofeial Receiver. Mr. Hay-

How many partners

den: there?

Witness:

were

I don't know really. There may be 10 or 20.

Where are they now?They have all left the Colony on account of ill health. I am doing my best to remain.

His Lordship: Something like Casabiancal

Asked to explain what happened to the firm's capital, witness said some considerable sum had been

lent to employes.

His Lordship: Lent to unliealthy. partners.

Mr. F. II. Loseby, of Russ & Co., represented the petitioning credi- tor and applied for an adjournment which was granted.

STABBING

11

AFFRAY

SEQUEL

MAN CHARGED WITH MANSLAUGHTER

The discovery of the body of a mun at the junction of Hollywood Road and Tung Street, on the night of September 7 last, has led to the arrest of L4 Shiu- keng, aged 23, unemployed, who was brought before Mr. Macfadyen in the Central Police Court this

with morning, charged Alaughter of Chung Shap-yce, 25, a native of Nam Hol district.

The necused

was arrested Canton on September 17 and brought to Hongkong.

man-

in

On the application of Detective- Inspector J. Murphy a week's formal remand was granted, by the magistrate.

of ginseng on the steamer Sul Tui without placing it on the nunifest. Sergeant Forrest sald defendant

While fishing off Kan Po. Ilang,

It is recalled that the murdered came on the wharf at 1 pm, on in the Taun Wan district of the

man was believed to be the keeper Tuesday, and the ginseng won New Territories, he was caught

of an oplum diyan at No. 207 found in his possession. He was in an explosion of dynamite, which thon warned. to

it on the was being used in the operations.

Hollywood Road, where he de- manifest. About ten minutes bo- One hand was almost blown off.

cupied a bed space on the cockloft above the kitchen. Apparently. fore the boat sailed, he (Forrest)

early on the evening of September "What I think you were trying bearded the vessel, and on look-arcels of sharka' fin, but had not produced any ginseng. He did

7 there had been a fight in the to do was to run the ginseng into ing through the manifest found not tell defendant not to bother China from Macao," remarked Mr. that only two parcels of sharks

about the gingong.

An anticyclone of moderate in-divan, in which the combatants E. W. Hamilton, at the Central fin had been entered, but not the

Manchuria. The made free use of porcelain pillows, Defendant stated that ho show-tensity Magistracy this morning, when ginseng.

ed the ginseng to the witness at typhoon in situated about 120 mfics It is believed that the murdered chat of Naha (Loochoos), maving man was involved in the quarral, Kwan Shun-wai, assistant nethu compradore's department, imposing a fine of $26, or one month's hard labour, on Li countant in the compradores de Mr. Hamilton convicted and N.N.E. or N.E, Local forcenstand that he was chased inte the Shoung, charged with having impartment on the Sul Tai, mald ported five boxes and two packets defendant had registered two imposed a fine, at the same time North winds, moderate; cloudy, street and lator stabbed bilen th

occasional rain.

conflacating the cargo."

OCCASIONAL RAIN

covers

heart.

Jimmy's Kitchen

and

JIMMY'S ANNEX

Ic. D'Aguilar Street. Tel. 30126,

China Building.

SPECIAL SUMMER SNACKS

Tomato Juice Cocktail >

Chicken Salad

Asparagus Mayonnaise

Potato Salad Ice Cream Coffee

$1.00.

Chicken Noodle Soup Jimmy's Hamburger Special with Egg French Fried Potatoes

Vegetable

Lemon Pic

Coffee

Tel. 24863.

Jimmy's Cocktail Fried Fillet of Garoupa Fried French Potatoes Ice Cream Coffee

Cream Tomato Soup Giblets Curry and Rice Cheese

Jam Pan Cako

Coffee

PICKLES, VEGETABLES AS USUAL

CANADIAN 【CLUB WHISKY

Best For

Cocktails

OBTAINABLE AT

THE FRENCH STORE

99, Queen's Road Central, Near Central Market.

And at

ALL LEADING WINE DEALERS.