Wednesday,
HONGKONG TELEGRAPH.
March 22, 1939.
COMPANY MEETINGS: FIRMS SHOW INCREASED PROFITS
Dairy Farm Coy. Has Year Of Great
HE annual meeting of the China Entertainment and Land Investment Co., Ltd., held at the King's Theatre this morning, was told that profit last year had almost doubled over the previous year. Report showed that
Profit Totalled $135,604
for the year under review.
Tho
The annual Report was made by Sir Shouson Chow, the Chairman.
FOOD, FILMS
Expansion, Report Reveals MAKE
A YEAR OF GREAT expansion and increased profits was reported on by the Chairman at the 43rd Ordinary Yearly meeting of the Dairy Farm, Ice & Cold Storage Co., Ltd., held at Lower Albert Road at noon to-day.
The proft on working account was $819,274 while a record number of cattle was being further augmented because of the increasing call on the Company's commodities.
A special meeting followed. It adopted a resolution to issue 41,905 fully paid up shares to be offered, one for every six held, to shareholders. Part of this sum will be used to reduce the overdraft.
There were at the meeting: Hon. Mr. T. E. Pearce (Chairman), Hon. Mr. S. H. Dodwell, Hon. Mr. A. L. Shields, Messrs. H. V. Wilkinson, D. T. Landale (Directors), J: D. Thomson (Manager), G. Milne (Secretary), R. A. Wadeson, (Legal Adviser), J. Owen Hughes, Yong Yeong-ghi, A. D. Wyllie, P. L. Morphew. A. L. Wyllie, J. Gardner, S. H. Ross, C. T. Chan, and D. McFerran (Shareholders).
MORE
Two Companies held Annual meetings this morning. and reported In- creased profila. Tho China Entertainm un t and Land In- vestment Co., of the
#2015
King's Theatre, de $135,604. The Dalry Farm Co. made $818.- 000.
the soon be fully justified.
.
The Chairman said: After depre- Point. This new Dalry is equipped penditure on these extensions will clating fixed assets, $210,432.00, and with every modern device for providing for Directors and Auditors pasteurization and bottling of mille
NEW FREEZING PLANT balance at under hygienis conditions, and with Those present Et the meeting Fees, there remuing a
To bring our cold storage facilities Included Sir Sheuson Chow (Chair Credit of Profit and Loss Account the most up-to-date machinery for
which
with the $502,923,83
cleansing and
sterilizing of up-to-date, we have contracted for man), Measta. K. Y. Chang, Li Lin-of
1 quick
freezing plant, which chi, Li Jewson, Chang Kwal-on, K. the addition of $74,095.03 brought bottles.
I need hardly add the dairying in it is hoped will be in operation C. Chang, Llang Chi-hao, George forward from land account and after
constant European super modern method of dealing with fish before the end of this year. This Sun, Chang Kwai-lin and Dr, S. W deducting $125,715.00, the Interim
(Directors); Messrs. 1. L. Lowe, Dividend of 50 cents per share paid under
regular examination by our medical
Important Industry and become a this advisers. 301.78 for distribution.
profitable adjunct to the Company's BUSINES
Despite restricted fishing operations
ΤΟ
Sun Wing-kwong. Li Kwok-ying, K. on 28th September last, leaves $451,- vision, and the Staff under strict and will, we believe, prove a boon to this
1. Chang, Ll Shiu-cheung, and Hong
So-yin (Shareholders).
be allocated ጊዜ
the
Your Directors recommend balance should follows:
After the Secretary had read the
notice convening the meeting, Chairman read his report.
CHAIRMAN KEPORT
Te payment of a Final Dividend of $1.00 per share
The Chairman rak: "The Reporti of the Directors together with the To payment of a Bonus of 25 cents per share.... Balance Sheet and the Auditors" Report for the year ending December To transfer to General
Reserve
To transfer Rescrve
to
Cattle
31, 1938, having been in your hands for some time, I propose, with your approval, to take them a read.
"The net profit for the year, after To Carry Forward to new
providing for depreciation, and in- cluding $7,338.30 brought forward from last year, amounts to $136.- 804.70 which in nearly double that of the previous year. This increase li
number of people into Hongkong owing to the hostilities stil prevailing
many parts of China.
In
account
€2,857.50
15,000.00
PASTEURISATION PLANT
Customers and shareholders will ou account of the Sino-Japanese hos- $251,130.00 no doubt have appreciated the fact titles, Ice sales were well main-
the Govern- we have anticipated
tuitted
and, in fact, show 4 small re- increase as compared to ment's compulsory regulations
the mules eome made in 1037. garding pasteurisation, which into force on April 1-next, and they To cope with the steadily increas may rest assured that every possible ing demand, over $140,000 was ex- 50,000.00 precaution is taken and no expense pended on our ice cream plant during is spared to ensure the supply of milk the year. This plant, now installed of the highest grade, and comparable in the new dairy premises, is the Inst 72,017.28
to tuberculin tested pasteurized grade word in
up-to-date efficiency. A new line is to be marketed this $451,304.78 In Great Britain.
The total cost of this new In-Leur
The Directors trust the
approval.
on
Ings,
to year.
in this important branch of above stallation, including the new Build-Inter which should prove a popu- amounted to $291,107.97 and your business. The policy of placing doubtless due to the influx of a large appropriations will meet with younecounts for a large proportion under on-tie market only the very highest Capital Account expended during the grade of lee cream products will be maintained, and we look forward to The management will be only tag increased business in this department. interested I mentioned last year, that we had pleased to arrange for
embarked on the production of shareholders and customers to view this new Dairy.
constituted milk. This has not prov Further expansion 10 the Colded a succurs, no gales have dwindled proportions, and Storage premses at East Point in to very moderate the shape of four large, rooms of just there seems to be little doubt that over 100,000 cubic feet capacity have when good fresh milk is available, reconstituted been completed at a cost of $140,- the demand
substitute is very limited. 700.01.
Green Spot has proved its initial
$1,200,000 RESERVES
of dition
$15,000 The General Reserve, together with the sale "During the year under review, transfer of $310,000, profit we have several successful perform of Use Lalchikok properly, to which will ances for the benefit of the Chinese shall inter malte
reference, refugees and other charitable organi- sations, and I am glad to say that, thanks to the generous support of the public, we were able to raise a fair amount to add to charitable
funds.
bring this Reserve to $700,000 and the addition of $60,000 to Cattle Reserve will bring that to $500,000.
The year under review has been an eventful one for your Company, and I am pleased to report has been one of general expansion.
In addition to this Increase in
for the
re-
FIRST CLASS FILMS "The Management have been very i Importations of 78 head of cattle storage space, an extension of the popularity and sales were appreci- careful in the selection of pictures from Canado, 37 from Australia and Central Cold Storage in Connaught ably up as compared to those made
construction, and In 1937. during the current year. Pictures 20 from Great Britain and the addi-Road is under
RECORD TURNOVER The Bulchery, Imported Dalry offered by your company in the Cen-Produce and Shipping Departments trai Districts.
are chosen for their suitability to the flon of home-bred animals have in-when completed will be a valuable taste of both our Chinese and Euro-creased the herd from 1,170 to 1,401, addition to the cold storage facilities pean patrons, and I am sure that and as you will observe from the our line-up of first class Alms this Balance Sheet, stands in our Books year will meet with general appro at the figure of. $599,335.05. val.
Against this, as I have just stated, "Turning to the Investment alde, I we shall have after alfocating a am pleased to report that all our further $50,000, a Cattle Reserve of shops and offices are occupied, and $500,000 but in addition the $13,586.85 are yielding us a regular monthly at credit of Cattle Wastage Account income.
Book
will bring our total Cuttle Reserves "Out of the profit available for to $543.560.85 as against a distribution, your Directors recoin- Value of mend placing a further sum of $50,-
000 to General Reserve and payment;
SAT590.335.05, POSITION
We believe Shareholders will agree
of a Dividend of 60 cents per share this is a very satisfactory position to leaving a be in. Tu house this herd it was absorbing $50,914,80, balance of $25,609.88 to be carried necessary to erect one new shed and
several others had to be extended. forward to the next secount.
think this covers the year's This herd, which incidentally in u “}}ns working in general, and I now pro-record one for the Company, pose that the account as presented provided 6,190.119 lbs. of milk, an be adopted. When this has been increase of 14.20 percent over the seconded. I will answer, to the best previous year and is, of course, also of my ability, any questions you may record for the Company,
wish to
Despite this increase, the heavy demand in the months from April to DIRECTORS RE-ELECTED There being no questions, the meet. June could not be met, and our cus ing
of Meeded with the re-election tomers had to be restricted in their
Chang Kwal-on and Li supplies of milk, and cream was not
always made available.
In anticipation
Lin-chi as Directors. This motion
of still bigger been placed for additional
was proposed by Mr. Li Kwok-ying demand this summer, contracts have seconded by Mr. P. L. Lowe and carried unanimously,
experience this year,
cattle,
The re-election of Messrs. Percy which I hope will obviate a similar Smith, Seth and Fleming as auditor's was proposed by Mr. K. P. Chang, seconded by Mr. Hong So-yin and carried unanimously.
Italians For New Franco Offensive
COMPARABLE TO BEST The herd, I am pleased to report, enjoyed exceptionally good health Some of our throughout the year. shareholders and customers may not be aware of the fact the Company carries its own Veterinary Surgeon and the management of the Farm is in the hands of experts from home. Most favourable'
were
comments recently made on the herd by a visit- Ing authority. This gentleman stated It was comparable to the best manag- ed herds lie had seen anywhere. Rome, Mar. 21.
Before leaving the herd, I should Signor Gayda in the "Giornale d'Italia" declares that Iulian legion explain the amount at credit of aries will take part shortly in a new Cattle Wastage Account is the sur-
plus, after, allowance is Spanish offensive.
losses by death or cale, on a scale
made for
It is added that imminent resump-deelded upon some few years a tion of the Spanish Nationalist offen-This year the total amount provided sive is expected, in which Italians from Working Account was $97,517.40 will play an important role.
which was in excess of actual require-
end of the
before the Reuter Special.
It is likely that action will start ments to the extent of $25,243.05. month. This later is the amount by which
Cattle Wastage Account bas increased, during the year.
Although on the right side for the
BUT WAR MAY END SOON
Paris, Mar, 21.
been
A local French dispatch from San past three years, it is not considered Sebastian reports that Burgos and advisable to adjust the scale applied Madrid have actively bogun hinting for Wastage In the herd. The sum a heavy at a possible early end of the war of $97,617.46 may acem and the Loyalists surrender.
charge, but it must not be overlooked Burgez reports reiterate the refusal this only represents 10.27% of the of anything but the Loyalists' un- value of the herd. conditional surrender and warn that An event of importance to "record the Nationalists are ready to move on was the transfer of the Dairy from Madrid soon--United Press.
1Pokfulum. to the now onc
\GETS-IT
at East
THE LIQUID
CORN CURE Just a few drops of Gets-It will kill the pain and your corn troubles will be ended!
+21-20
When this extension is completed, we shall have at East Point, 753,000 cuble feel; Central Cold Stores, 20,038; Kowloon, 32,760; or a total of 815,707 cubic feet.
The cold storage business has in creased rapidly during the last few years, but your Board have consider ed it advisable to anticipate future demands and are satisfied, the ex-
have produced a record turnover, but competition has been particularly severe, and it is due to the larger that રા satisfactory trading turnover, profit has been achieved. This larger jurnover no doubt due to the ab- normal conditions prevailing, which is also the reason that necessitates our carrying a much larger stock, which you will observe, at the 31st (Continued on Page 4.)
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