1935-07-01 — Page 5

A

compared with the

THE

year

LANE, CRAWFORD which, in the main, is attributable to

MEETING

SMALLER PROFIT OWING TO DEPRESSION

--

made neces-

that the

the decrease in turnover to which I have previously made reference, The decreases under the various other headings are rosultant upon the in- ellence of depreciation subject with which I have also dealt.

Turning to the contra side of the Balance Sheet, certain repatriation personnel, consequent upon depart- The thirteenth annual general mental reorganization,

sary the disbursement of $10,198.01 meeting of Messrs. Lane, Craws out of the Reserve created for that ford, Lid., was held on Saturday purpose last year, in which connection morning in Exchange Building it will be observed that in the alloca with Hon. Sir. William Shenton tien of profit now proposed by your

Bourd it is recommended in the chair,

Others present were Messrs, Ebalence of $3.601.39 remaining be J. Davies, E. M. Raymond and supplemented by the sum of $6,498.01

in order to bring the amount sta II..Taggart (directors), Mr. A. Wnt credit of Reserve for Staff

Contingencles Brown, manager and secretary, nges and Messrs. F. W. Stapleton, I' H. $10,000, thus making provision for Suckling, H. B. L. Dowbiggin, O. contingeneles maturing under this F. Ribeiro, jnr., A. M. d'Eca and heading.

Other Features F. C. Barry, shareholders.

Mortgage Indebtedness the reduced figure of $1,000,000 na compared with $2,000,000 at the endl of the previous financial period, being

reduction of $100,000,

the

After the notice convening meeting and been read by the Secre- tary, the Chairman, moving the adoption of the report and secounts said:

Gentlemin: Before' pracceding with the ordinary business of this Meet- I desire, on behalf of ing,

your

HONGKONG

TELEGRAPH MONDAY, JULY 1, 1985.

RADIO BROADCAST.

(Continued from Page 7.)

Greenwich Time Signal at ́1,20 mm 21:48 am Weekly Newsletter and Sparta

Bummary.

12.5 p.m. Close down,

Transmission 2

7 p.m. 11g Sen.

Orchestra.

The Whitby Municipal

7.4 p.m. "Tabe Tunes.”

Greenwich Tima Bignal at 12 Neon #p.m. lorda lirard and his Band. 1.15 p.m.

The 11.1.C. Midland rentalra. England v. Houth Africa. 1.4 p.m. Then 11.11.C. Midland Orchestra. 9.m. Sperie Talk.

1.30 p.m.

1.10 p.m.

1.4 P.M

up

to

atanda at

Sandry Creditors ATO lower by $2,611.80)

and these two beadings, read in conjunction with the increase Board, Lo pinco on record an expres- Boating overdraft amounting to sion of profound regret at the death $2,501,78, display n nett reduction in of Mr. J. 1. Warren. The late Mr. Indebtedness amounting to $79.948.13 Warren Joined the Board of this for the financial year. Company in March 1929, and served thereon until

shortly prior to his death. During his period of offler on Your Directorate, Mr. Warren renco brought forward from the

total dered valuable service to your Com

of previous yeur, makes engenders and his pasing pans

15,013.38 available for approprin- genuine feeling of regret.

Don, which sum your Directors re emmend be allocated as follows:-- To Place to Reserve for

The Report of your Directors and Statement of Accounts for the eial year ending 28th, February 1936 having been in your hands for the prescribed pericl, I propere, your permission, to

rend.

with

treat them n

The Report of the Auditors in x follows:

Arthur Ballshury and his Or

The New 9.45 p.m. Claws down.

Trausmission 3

10... 10-11.45 pm.; 0.8. 10 p.m.-1 mm/1

6.8.1. 12-1 a.)

10 p.m. B Ben.

10.13 p.m. The ..C. Northern freland

Chechestra.

$1 p.m. The Hungaria Glpay Band. 11.10 p.m. England Houth Atelee. 11.40 p.m. 11.13 p.m.

Variety.

A Halled Concert.

←

12.15 m. Flence Music.

Greenwich Tim» Higns! at 4.15 p.m. 12.30 .m. The Newe 12.40 .m. Danes Muniz, 1a.m. Close down.

Transmission 4

(G.S.B. and 0.8.1,3

1.5% a.m. The Balance of Nott Proft, after applying depreciation, amount to

to added $23,541.88 which,

ደኔ

the

Bad & Bruhtful Debts $ 5,599,18

To Place to Reserye for Staf Passages arid f'on- tingencies

To Place 10 Special Re

Building

グル

Serve

fer

Improvements

Carry

necount

Forward in next

$ 8,408,41

PART 1

en The News, 1. m. England. Routh Africa. 1.33 .7he News (eant'd), 1.00 . Fred Hartley and th Novelly'

Culotet with Webster Banth,

7.10.m.

The Hand of 14.31. Knyal Murizem, Greenwich Time #ignal at 7 pm Am. Farenti Gibbona and the Heroy Motri

Urphens,

3.30 am. The B.B.C, Choral Society: The

1.B.C, Orchestra (Bertion P. Greenwich Time Signal at A Dim.

Talks The Number Herens" Ford

J'onnenby,

4.15 K.m.

..

$15,000.00

4,27 A.CT

5.5 ...

$ 7,915.50

Taking, seriatum, the headings of

Debla

the proposed appropriations, it in the opinion of your Board that the Re- serve for Hnd and Doubtful should be augmented to the extent

In order that the inlicated should stand at a figure of $10,000 as menaure agninst a precautionary possible contingencles,

The proposal to transfer $6,08,51 Staff Passages Reserve is requisite for the reasons 1 have already indi- ented.

"We report that we have examine the Accounts of Lane, Crawford, Ltd. with the Books and Vouchers of the Company for the year ended 28th February 1936, and have obtained all the information and explanations we have required.

as certified by the manage "Stocks.. ment, are valued at cost, whereas the the result present market value. of exchange fluctuations since the close of the Company's financial is considerably lower than the year figure stated in the Ralance Sheet Subject to these remarks, we are of opinion that the Balance Sheet

The provision of a Special Reserve so as to exhibit a properly drawn up so as to

covering Building Improvements in true and correct view of the state of

the sum of $15,000 is deemed advis the Company's affairs according to the best of our information and the able in view of the structural altera- Lions undertaken in respect of the explanations given to us and shown by the books of the Company."asement and First Flor, consequent [upan your lourd's decision-following

yneating of the Basement premises the Hongkong Stock Exchange-to transfer the Restaurant and Eatery to these premises and to incorporate therein the new Cake Department. ompared with In this conection it is proposed that $92,579,10 for the preceeding year, rather than reart to amortization of This such rapital outlay over a lengthy or a decrease of it.214.17. decline is attributable to diminution period of years, it is preferable that The the cost of the requisite work under- in Turnover. consequent upon prevalent depression coupled with the taken should be written off forthwith rise in Exchange and the repercus-from profits. aive effect these factors bring to bear upon the spending power of our clien teir.

Result of Depression

EM

Turning to the Accounts, you will observe that the front on working for the period under review amounted

$81,364.93

10

The New Restaurant

by

As a result of the transfer and co- Passing to the debit side on the ordination of departments, it has been Profit and Loss Arcount, the only headings appearing to call for consible, as from 1st March last, to at are Repair and Henewals and close down the Corner Shop in King's Deprecation: in the case of the fur-Theatre Tuilding, thus effecting a mer item, a ninterial reduction in saving of approximately $1,580. per the of the on completion expenditure Is displayed vis-a-vis the figures covering previous years, and will be effective

change over of the Restaurant, which on 1st, July next, in the ense of Depreciation, the the whole of the first tear will be

2h 1

month.

continued

flame down.

PART !!

The Test Bridgewater larg Quintet. Eleanor Kaufentschezzo soprano).

Affairs."

Talks "Foreign

Chamber Mende,

4 .m. The Newa.

6,35 m.,

Dance Music.

4.43 m. Claus down,

BODY IDENTIFIED

GRUESOME FIND IN EMPTY

HOUSE RECALLED

Bir

The skeleton of a man found on the second floor of No. 538 Fook Wing Street, Cheungshawan, last Thursday, has now been identified

that of Wong Kain-fa, ake 31, an unemployed seaman. The iden tiftention was made by his father. Wong Shing, 69, who said that his son had been missing since Stay 11.

It will be remembered that the skeleton was discovered by a house agent named Ma Chik-sang. It Was dressed in European, style clothing and was in a sleeping position on the floor.

A letter, believed to have been written by the dead man, was found nearby, and it states that he had been suffering from a disease for a considerable period. He had apparently fallen sick after renting the premises, and died in his nicep,

easaing year at a remuneration of $1,750, on the propwal of Mr. P. C. Harry reconded by Mr. d'Fen,

At the conclusion of the meeting, hose present were invited by the Chairman to inspect the new

in their

res-

written conforms to our made available for office premises, in à practies based upon which connection and having regard taurum, which is to be opened to-day, residual life value of the declining the

all unanimous and were popularity your assets as detailed under the relativehulding enjoys by virtue of its cen- praise of the new premises, especial- headings in the Balance Sheet.

The Balance Sheet in your hands a Teulin and up to date accom.le of the up-to-date kitchen, where molations, it is reasonably anticipated they were given a demonstration of and you will that little difficulty will be ex-the working of the new features in- observe that the fixed assets stand perienced in renting this space.

The stalled. nt the figure of $2.175,981.71, effect of the changes indicated will, which reistion I desire to draw atten- apart from improving service to our

The fact that aciitions during tion to the

patrons, redure the rental charges

revenla

few changes,

the year amounted to $6,728.01 only carried by the Main Store and Ress evidencing the conservative policy tourant, und the working

the matterhold pursued by your Board

mounts

hould resultantly benefit appreciably. of capital expenditure. Whilst deal. I may, incidentally, add that it is ing with this subject, however, I deem it opportune to direct the attention of red on reopening the Resturant

ציון

Ioration, to revert to the

in its Sharehokiers to the fact that the name of Cafe Wiseman, the location necessity for replacement of certain and name hei

being synonymous some of our fixed assets in the immedinte

twenty years ago.

portion of

future must not be overlooked. In Throughout the year your Honrå this connection I refer more particu- Thus pursted д policy of strict larly to the decision of your Board to enemy, Futh in capital expenditure centralize the Bakery in

of and overhead charges, the full benef the Basenient premises in Exchange of which is not reflected in the ac Building, and on effecting the recounts under review. The Hardware, quisite transfer, to bring this import fee Equipment and Shipchantery ant department of your undertaking Departments are being closed down up to date, replete with the latest and by reason of the fact that such de most bygienic equipment.

Stocks and Gonda

been

partments due to intensive competi Gen-have outlived the period of their profit produciar capacity. As Stocks and Goods in Transit have. A result it will be possible to foster departments been valuid by the management at the business of those

of working on a profitable basis, but cest und appear at the figure of hitherto hampered by lack of requi $709,330.98. Shareholders will see site floor space permitting of expan- however, that in the Report of your c annotation has Auditors.

In conclusion. of the

I would the subject

expresa apperated an

thanks to the staff for their loyal thereof, value

consequent markot upon

the appreciable advance in operation covering a period of much Exchange. This matter has

difficulty. been

I now beg to formally propose that receiving the serious attention of your Board for same time past and, the Report of the Directors and the considered Accounts for the financial year end- ጁዲ ቤ result, it in the opinion of your Directors that the 28th February 1935 as presented, he adopted, and that the approprin- most prudent course to pursue in the tiens recommended by your Directors circumstances, and particularly

be carried into effect. When this having regard to the nature of the has been seconded I shall be pleased business in which your Company is to answer any questions Shareholders engaged, being essentially retailers calling for up to date goods and a quick turnover of Stocks, is to write down storks to present-day disposal.

may wish to ask.

Proposal Seconded

values. With a view to giving effect Mr. Stapleton, seconding the pro- to your Board's decision in this mat-posal, sold they had listened with ter, it is deemed- should be taken talent that steps interest to the remarks of the Chair- to completely recon- man, but he regretted to note that it struct the Balance Sheet of the Com- | was the second year in which there pany, in which relation your Board was no dividend available. He hoped In consultation with the Company's that the proposed reorganisation of

and It is the Auditors of the subject

Company

iny would bring about the reasonably anticipated that they will desired benefits. be enabled to lay their recommanda- The proposal was unanimously tions before Shareholders at an early carried.

date,

Mr. E. M. Raymond was re-elected Proceeding with the other items on a director on the motion of Mr. the Asset side of the Balance Shoot, Dowbiggin ncconded by Mr. Suck- It will be noted that Sundry Debtors ling; while Mesars, Linstead, and roprosent, a decrease of $25,382.40 as Davis were elected nuditors for the

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Lane,

Crawford's

SUMMER SALE

Commencing Tuesday, 2nd July

CLEARANCE BARGAINS in all Departments

LADIES' DEPARTMENT

you need

In you

HATS SHOES

HOSE BAGS

DAY GOWNS

MEN'S DEPARTMENT

BATHING SUITS G TRUNKS

LESS

$1.95

EVENING GOWNS

COATS

5,00

25%

7.75

LIGHTWEIGHT RAINCOATS

$ 4.50

B.V.D. UNDERWEAR

1.50

"VAN HEUSEN COLLARITE SHIRTS 3.50 to

4.50

$ .50 1,00

CORSETS

JUMPERS

CARDIGANS

.from $1.00

SUMMER WASHING SUITS

13.50

SPORTS SHIRTS

.from

1.75

2.00

"AERTEX" COLF JERKINS

2.50

WITH ZIP FASTENER

11.00

.25

GOLF HOSE, WHITE OR KHAKI

1.00 pr.

1.00

BLOUSES

$2.50

DAY SHIRTS

from

1.75

RAYON SILK VESTS

.75

PYJAMAS

,from 3.00

SILK TIES

.from

BEACH WEAR, ETC. Less 25%

COTTON & HEMP SUMMER HATS

1.00 3.00

CORSETS, WOOLLEN UNDERWEAR,

PROVISIONS DEPARTMENT

PROVISIONS

GROCERIES

ETC.

WINES, SMOKERS' REQUISITES, ETC.

EXCEPTIONAL OFFERS

in

SUNDRY LINES!

THE RANGE IS TOO WIDE TO ENUMERATE !

A VISIT TO THE DEPARTMENT WILL CONVINCE YOU

SOLID SILVER

SPORTS CUPS.! (English Hall Marked)

TROPHIES !

PRESENTATION' PIECES !

ALL LESS

25%

DURING SALE

A GREAT OPPORTUNITY FOR ALL

SPORTS CLUBS AND ASSOCIATIONS ETC.

·SPORTS DEPT. HICKORY SHAFTED

GOLF CLUBS

Any 5 clubs you select with a caddy bag, one ball and 1 pkt. tees.

$20.00 lot

THOMAS TAYLOR & Wm. SYKES LAWN BOWLS

54", 5" & &?”

$35.00 & $40.00

per set

BADMINTON

ALL LESS 25%

BILLIARD 'CUES & ACCESSORIES,

AND DECK TENNIS, ETC."

OVER 100g/s OF WINES TO BE

CLEARED AT. HALF PRICE.

LIST ON APPLICATION.

DUNHILL PIPES $10.00 each

OTHER WELL KNOWN MAKES AT CLEARANCE PRICES. POUCHES, LIGHTERS, ETC.

HALF PRICE.

CHINA & GLASS DEPT.

BLUE

BAND

BLACK ALARIC

ROSE PATERN

GLASSWARE

Sauce Tureens

$2.00 oa.

Cream Jugs

25 cto. ca.

PLATES

Plain | Pint

Tumblers

$1.00 dox.

4

Oval Dishes 10" to 16" Sizes From 75 ct. ca. Hot Water Jugs 1 Pint

80 cts. ca.

Soup

$8.00 dox. Dinner

$8,00 dox. Pudding

$7.00 dox.

HARDWARE DEPARTMENT

Decanters

$3.00 ca.

Enamel Pails Enamel Mugs Water Jug Duco Paint

(various colours) 'Paint brushes from

Laundry Irons Sponges

$2.75 ca. Trays

.25

1

$3.00 03.

5.00 Meat Choppers ', .

"

.75"

Valor Heaters

J

25 tin

.25 ca.

1.50

(large)

(small)

15.00...

8.00

1

#

Ice Cream Freezers 18,00 (1.00 Filters. (6 gals.} TOOLS BELOW COST PRICE

19

20.00

**

· FURNISHING DEPARTMENT.

CRETONNES, SHADOW TISSUES, ARTIFICIAL SILKS, TAPESTRIES,

DAMASKS, CARPET SQUARES, RUGS, ETC.

ALL TO CLEAR AT HALF THE MARKED PRICES ! MUST BE CLEARED!

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