1941-04-03 — Page 20

DON'T LET THIS HAPPEN

USE

TO YOU!

WATSON'S

DISTILLED

BAY RUM

THE CELEBRATED HAIR TONIC

A few drops sprinkled on the head and massaged in each morning atimulate the roots of the hair, cleanse the scalp and promote healthy growth.

A. S. WATSON & CO., LTD. (EST. 1841) Wholesalo, Retail & Manufacturing Chemists.

JUST ARRIVED

New Parlophone Recordings

MP31-8ARAH-BARAJL. Slow Fox Trot ........Harry Koy & Hla Band, WE'LL GO SMILING ALONG. F.T.....Harry Roy & His Band.

· MPSE—TIIE BREEZE AND 1. Fox Trot.

IF YOU HLADN'T ASKED ME TO DANCE. Waltz-

Harry Roy & His Band,

Ivor Morton & Dave Kaye.

Part I

Ivor Morion & Davo Kaye.

F1758----TIN PAN ALLEY MEDLEY.NO. 28...Part I

TIN PAN ALLEY MEDLEY. Part II F1767-TIN PAN ALLEY MEDLEY NO. 29.

TIN PAN ALLEY MEDLEY. Part II F1778TIN PAN ALLEY MEDLEY, NO. 30. Part I

Ivor Morton & Dave Kaye,

TIN PAN ALLEY MEDLEY. Part II F1772—WHERE THE BLUE BEGINS. Quick Slep..Victor Silvester Orch.

LOVE STAY IN MY HEART. Waliz

Victor Silvester Orch. F1164—MIST ON THE RIVER. Slow Fox Trot... Victor Silvester Orch.

LOOK FOR THE SILVER LINING; Quick Step

Victor Silvester Orch. F1784—ALL OVER THE PLACE. Fox Trot ..The Organ The Dance & Me.

CHEERIO. ́Quick Step

....The Organ The Dance & Me.

S.

Solo Agents:

MOUTRIE & CO..

York Building

LTD. Chater Road.

Swan, Culbertson & Fritz

Investment Bankers and Brokers

Members of New York Cotton. Exchange

Chicago Board of Trade

Manila Stock Exchange

Winnipeg Grain Exchange

n

Commodity Exchange, Inc., New York

Canadian Commodity Exchange, Inc., Montreal

New York Coffee and Sugar Exchange

Hongkong Sharebrokers Association

Shanghai Stock Exchange

SHANGHAI, HONGKONG, MANILA and BUENOS AIRES

Cable Address: SwansTOCK

HONG KONG HOTEL

MAC'S CAFE

MEET AND

EAT HERE

The Business Man's Favourite Rendezvous

TABLE D'HOTE TIFFINS $1.75 GRILL SPECIALITIES A LA CARTE

SNACK COUNTER & BAR Quick Snacks and Refreshments

ON SALE AT MAC'S COUNTER Finest Assortment of Home-Made Pastries & Cakes. Chocolates in fancy boxes. ORDERS TAKEN FOR WEDDING CAKES AND CAKES FOR EVERY OCCASION

HONG KONG HOTEL

THE HONG KONG & SHANGHAI HOTELS, LTD.

Thursday,

HONGKONG TELEGRAPH

Most popular

car in Hongkong

The most popular car in Hongkong in the Studebaker class is NATURALLY THE STUDEBAKER which has been sold by us in this territory for TWENTY con- secutive years. We honestly bellove the Studebaker to be the finest car in this

class, Ask us for a de

monstration. There is no

obligation and we are sure you will enjoy a ride in a

Studebaker.

HONGKONG HOTEL GARAGE

Stubbs Road

Tel. 27778-9

April 3, 1941,

MESSRS A.S. WATSON & COMPANY CELEBRATE 100TH ANNIVERSARY

A brief outline of the early history of the Company, which celebrated its hundredth anniversary of the founding of the business this year, was given by Mr D. E. Clark, Chairmun, at the fifty-sixth annual meeting of Messrs A. S. Watson and Co, Ltd, held at the Jocobonn Room of the Hongkong Hotel this morning.

The nett profit for the year umounted to $438,831.26, the sum being $60.000 better than the preceding

year.

+

Sharhditions, I feet

CHINESE ESTATES

Big Dividends Paid Last Year

The Chairman was supported previously given, and attributable to with the operations of the buol- curtailment of ereditness of those earlier times and, it is in by Mr J. Scott Harston, the Hon. necesary

facilities. owing to the hazards the nature of things, that very many Sir Shouson Chow and Mr S. Tinvolved, also to remittonecs covering changes have occurred with the years Williamson, Directors; and Mr outstandings being received more affecting staff personnel and the for- Wm Paterson, Secrotary and promily than hitherto. As regards tunes of the Company. It is, how- Director. Shareholders present ash with our Donkers, the amount ever, a source of much satisfaction to were Messrs A. Vaswani, Hool of 28,280,40 shows an increase of know that the old firm has reached Yip-beng, Peter Wong, W. T. 214,201,13 over the figure given in its century full of vigour, with mori-

the previous Balance Bhoot.

bund tendencies still a very long way Hansen, C. B. Brown, N. V. A. Canton Branch Resulta

Despite the dimculties of pre- Croucher, J. E. Jupp, L. Guy, F. It is mathsfactory to note that nil sent day trading

flint all

will concur | W. Stapleton, J. A. Tarrant, Departments have contributed sub- süro Chairman:

that we start on Wong Kin-tsol and K. C. Mark,tantially towards this favourable with our

balance, in particular our Canton our second century with the The eighteenth annual General The Chairman said: Thiu yearBranch, after adverse results for the knowledge that the Company now Meeting of Chinese Estates marking as it does the one hundreds last few years, showed a fale pront occupies an exceedingly sound posi Limited, was held at the Com anniversary of the founding of the on the year's working, a com- tion and, consequently, we can safely business, it gives me added pleasure mendable performance, I am sure you regard the future with hope and con-pany's office, China Building, at to be in a position to present

will agree, taking into consideration fidence.

noon to-day. shareholders so favourable a report the diniculties and restrictions which

Other Business

Mr. Loung Kwal-tin, Chairman, it is in fact our best on record.

presided, assisted by the Hon. Str However, before referring to the the present alluation in that area in

poses on trading operations.

Mr J. Scott Hurston, the Hon. Sir Robert Kotowall, Messrs Lau Tak-po, figures shown in the Accounts, Before

concluding my remarks, 1 Shou-son Chow, Mr S. T. Williamson Leung Ting-kai, Li Ka-sze and Fung consider it

on this occa-feel it opportune to relate to you a and Mr Wm Paterson were re-elected Ping-fan (Directors). appropriate sion to give you, briefly, an outline

pleasing incident that occu

occurred in as Directors by a resolution proposed The Chairman said.The net profit of our early history..

recent months, when I received a by the Chairman and seconded by for the year, after providing for Re- 18 the same year that Hongkong letter addressed to me

Mr N. V. A. Croucher. personally.

serve for was transferred to the British dag, On opening the envelope I was sur

Directors a Naval Surgeon conceived the idea prised to find in Bank notes T. Butlin were unanimously re-elect- Auditor's Fees and all Expenses, of establishing a dispensary.it was with a covering

jeffer In Chinese ed Auditors for the ensuing year at amounts to $180,510.08 which, added matshed a fair possession Foint and welsh, an translation, indicated that the sume remuneration a hitherto, lo $127,000 bushforward from then known as the sender had transacted business on

of Mr J. last

totals $308,200. fulfilled the function of furnishing with "Watson's" about 40 years ago Tarrant seconded by Mr J. E. Jupp. A comparison with Inat year's medicinal requirements to the Ser- but, unfortunately, his firm went into

figures reveals an increase in the net vices under the title of "The Hong- bankruptcy wing our Company

proft for the year of $24,288.98... kong Dispensary,

a name which is about $1,500; continuing, the writer

A sum of $17,875.00 was paid in still associated with the Retail Drug advised that subsequent to that time

Taxation. portion of our present day business. he

he had #made

good" Bad, returning

the of the erection in Dr A. S. Watson, to whom our Com-to the

neighbourhood of several new build- to the Colony on pany owes its name, did not arrive not forgotten this

Ings suitable for offices, the demand for office-rooms in China Building

Whe

Hongkong Telegraph.

in

Thursday, April 3, 1941. Wyndham St., Hongkong Telephone: 20015

THE prefix "Special to the Telegraph" is used by the "Hongkong Telegraph to indicate news which is strictly copyright under the provisions of the Telecommuni- cations Ordinance, 1936, Bach news, KI bears the indication UI is received in Hongkong on the date of publication by the United Press Associations, who, reż serva all rights and forbid republications, either wholly or in part without previous arrangement.

though it

In note that,

at he had owed by

even at that early stage, the many oknue his remittance in thei

Mr. C. Bernard Brown and Mr S. Building $30,ciation on China

RADIO

metres (0,520 kilo-cycles)

and

year under review all office roons and shops were let. This is, no doubt,

the building, and to the extensive |structural · improvements which have been effected in recent years.

the Colony until 1858 and, as may him and consequently, in order to be imagined, the activities of the con- repay his debt plus interest, he now! ZBW, 355 metres (845 kc.) and 31.45 remains undiminished, and during the cern were confined almost entirely enclosed the aforesaid amount. We to the dispensing of medicines and were unable to get in touch with the A Saint-Saens Programme due to the advantageous position of

sundries al sender as no the sole druggists'

no address was given, but Is of interest to

with his suggestion we

facture and sale of aerated waters local Chinese press. I trust you will was carried on. From that period agree with me that this gentleman's ZBW on a Frequency of 845 kie's. onwards business gradually expanded very worthy action deserves special until in 1888 it was decided to con-mention.

vert the firm to a Limited Liability Staff Quarters Remodelled

Company.

has on

utilised .tts

and

With His Septet

Radio Programme Broadcast by and on Short Wave from 1-2.15 p.m. and 8-11 p.m. on 9.52 m.c's. "per

second.

"H. K. T.

5.45 Indian Programme.

6.30 Closing local Stock

tions.

0.32 Dance Music,

on

Reserve of Depreciation The amount of $30,000 provided for Reserve for Depreciation China Buliding is $20,000 less than that of the previous

Share- year. holders may remember that for 1938 und 1930 the amount annually pro- vided for this purpose was $30,000, Quota-but last year your. Directors, having

-7.0 London Relay-The News,

7.15 London Relay-10

'Mect Uncle Bam. 7.30 Variety. 8.0 Local nouncements.

Talk;

due regard to the uncertainty of the time, adopted the prudent policy of

the

Se provision to $50,000.

the receipts of the past twelve months have shown an actual increase instead of a

a decrease; and Time Signal, and An-your Directors, taking into considera- tion tus fact, and also the facts that the Company has now to pay Wor Taxation amounting to nearly $20,000

8.92 Hawalan Guitar Bolos, 8.15 Studio Local Newsletter.

8.39 Debroy Somers Band and and that the amount standing to the Ninon Vallin' (Soprano).

balance of this Reserve has reached

0.0 London Relay-The News. the sum of $680,000, have decided to 0.15 London RelayQuestions of revert to the sum of $30,000 as an the Hour."

0.30 A

Regarding the recommendations as Fluctuations of Fortune.

to allocation of profits, you will During the many years I have been observe that it is proposed to transfer associated with the Company-first $100,000 to Building Improverents. GOVERNMENT HOUSE

of all in London and subsequently Explaining our action in this matter,

would mention that our

Hongkong here- I have naturally witnessed 1 GOVERNMENT House, for many changes affecting the develop properties include ten Chinese houses

ment of Colony

the

consequent at Electric Road, North Point, near and,

Warehouse Department 89 years the official residence of business life of this community. our ly, His Excellency the Governor, Like all other concerns our Company Acrated Water Factory, which are

this account experienced

staff quarters. These and a prominent island land-nuctuations of fortune and I can well; tenements are not only old, but

recollect about

dilapidated; consequently, mark, is in the process of dis-

years bro thirty

our plan to remodel them aimost when the Company was undergoing it is our integration. It is no longer one of its dimeuit periods-certain entirely, modernising them in ne- cordance with present day require- correspondence anonymous

appeared The un- fit for habitation,

ments. This work, I in the local Press written, presum-

may add, has shareholder to the effect already been put in hand and these pleasant news is dramatised by ably, by

matter of four to five the swift progress of the damage that the Company was moribund and, premises should be ready for oicing

should be wound up

time. Consequently,

Before closing my remarks, in less than three months the Replying to this, the Chairman at

that time--Mr Henry Humphreys. building has become a mass of not only convincingly refuted this should like again to refer to the Com- Wave only).

10.0 London Relay-To Talk of ments of interini dividends, three of contention, but additionally indicated pany's Centenary. To mark the oc-

$3 a share and оло ок $2 * share, cracks and broken masonry.

that our business, far from being casion, it was originally intended at Many Things,"

10.15 Gounod's "Faust" Act II.Your Directors pre now pleased to amounting in' all to $11 01. share. the ranging some form of celebration. Similarly disturbing is the

In s stronger uther hand never been

is considered by your cause for such a state of affairs.

All this, of course, situation it Bnancial position.

Directors and General Managers that ́Old ́age has possibly made some-is-a-matter of more or less ancient

history. is nevertheless a source anything of this nature would not be contribution, but primarily the of pride and satisfaction to the accord with general opinion; con-

Isequently, state,

the idea has been dropped, building has been the victim of without fear of contradiction, that and. I hope Shareholders will agree

Management to be able to

with me that this is the correct the Colony's defence pre- the Company at the present time en-

for sounder standing than ever course to adopt in the circumstances. that the I now formally propose before.

and Statement of Accounts, as

parations.

tion

in a anths

moribund as asserted, had nger but awing to the general world

joys a

1t

I

Forty feet helow Government impossible the future outlook, it is Repot, be adopted and that the

House has been constructed an

more

I

for one to venture than a guess, particularly in view of Balance at Credit of Profit and Loss not Account as at October 31, 1040, circumstances; I shall

A Saint-Saens Programine. 9.45 News in French (on Short

Immigration Messenger Fined $25

Irope, for this head of

ex-

action This

has the con- the Auditor. of

have already been four pay-

צחק

recommend a final dividend of $2 a share, making in all $13 'a share for the year, ng compared with $10 a share for the preylous year.

A fine of $25 or a month's hard labour was imposed on Ng di

A.R.P. tunnel. In consequence existing items anything of this namely, $503,050.85 be appropriated Chi-hon, 27, messenger, employ Directors

follows:- that s

we

ance was

соп

a Dividend of 80 pay a cents per Share absorb- Ing.

A

By $120,000.00 To transfer to General

Next Account,

1

High Dividende

The reasons which prompted your: Directors to pay such dividends and int such intervals are the exceptional- ly high cost of living that has been prevailing in the Colony, and the re- quests received from many share- holders to pay as many and as large

as the financial position mpany would

perimit, Your ed by the Immigration Office, by clear or must, however, make it payments have been Mr G. T. Lowry at Central made exceptional circumstances, After payment of the final dividend, Magistracy this morning, for ob- and may not be possible in the future. taining $25 by false pretences. which absorbs $33,000, there will be Defendant was alleged to have ob-a balance of $93,700, which your tained $25 on March 4 from a shroff Directors propose, with your of the Immigration Department by proval, to carry forward to new Ac- virtue of a deposit receipt in the name count.

The report and accounts were 'ng-

of this work the Government nature, but I can rightly state To

century of enter on our second House grounds have auffered a operations full of confidence subsidence and the effect upon cerning the years ahead. Referring

cents per Share, to the figures now before you, it will

00,000.00 the Governor's residence has be noted that nett prent for the year been devastating. The sub-amounts to $138,831.20, this

Reserve,

100,000.00 sidence is continuing and at the some $60,000 better than the Ta place to Reserve for

Ing year which, as you

will probably present time there is scarcely a recollect, included a profit of $52,500 To Transfer to Chinese

building Improvements, 100,000.00 of one Ho Kul. room unaffected. In some parts accruing from the sale of our Kow

Dispenary

Stof Superannuation the walls have been split from loon

Account, profit, allow- top to bottom; the wall in one at the aforemention in arriving upstairs room has come apart of so made covering reservation And Carry Forward to

Tax for 1941/2 and and daylight now permeates as Corporation assessed amount through a two-inch crack; a payable at the end of the current water pipe in the gardens has your. Additionally, Profit and Loss Account includes donation of $10,000 been forced out of position and which was made to the South China the stone steps leading down to Morning Post Bomber Fund. the the lower levels of the grounds have been thrown out of alignment. From its appear- ance, Government House might well have been the victim of an earthquake.

Outstanding Accounti

mt duc

in

ap.

On March 3, a deposit receipt was proved, 10,000.00 reported stolen and on the following DERELICT JUNK

day defendant presented the receipt 83,050.05 and cashed it saying that he was the Junk No. 3316TH was towed into depositor. Defendant was arrested Hongkong by another junk yesterday $503,059.85 when the number of the receipt was after it had been found derellet a

checked with the

stolen. mile east of Mirs Point on March 29. Defendant

plended

one N

damage was done by Japanese,

Seconder's Remarks

His The only thing aboard the junk was Mr F. W. Stapleton, in seconding mother was alck and he needed its licence book. Its three masts were sawn off. It was reported that the proposal, sald-For many years monty to buy medicine for her.

It was said that defendant had al- the master of the junk had been now, it has been my pleasure, on a As regards the various items de-number of occasions, to second the ready given back $25 to the Immi- traced and it is alleged that the talled in the Balance Sheet, there is, adoption of the Report and Accounts gration Department as amends. included with our other Resert is, as presented by the Chairman of this the sum

Company and, once again, I have to of $3,711.20 representing amounts recovered to date on out-congratulate the Management on the standings which had previously been very excellent Report which has been written off against the special alloca-placed before us, while I feel sure tion in 1038 of $50,000 for Outstand-that. Shareholders will also wish me ing Accounts in China. It is possible 'to thank the

stal, on

their behalf, work they good work have accom- that further amounts of this nature for the

The building la manifestly unsafe and it appears that His Excelicney must seck elsewhere for an official residence; this is hardly the happlest

I have Hatened with particular form of welcome which could have may be collected, in which event plished during the year,

will be credited in like manner.j been made to Sir Geoffry upon his they under "Liabilities" it will be interest to our Chairman's remarke return to the Colony. It expert technical boring-of the A.R.P, tunnel benenth has been made from

150

opinion is agreed that the observed that deduction of end on 28 dealing founding of the business,

with the hundredth anniver-. the Balance Bary of

especially, as I happen to hold the

the house is the principal reason for Brought Forward from the previous

the damage, the matter calls for year of $08,653,84, representing Cer-distinction of being associated with

poration Tax strict oficial investigation.

on the Pronts for the Watsons since 1889, when I became

It is now certain that Government preceding period and paid to Governa member of the staff and, after varied experience managing branches House is beyond repair, and when ment in December last.

On the Assels side of the Balance In Amoy, Foochow and Manila, in normal times return to the Colony Sheet, the principal items calling for addition to many years service at the question arising will be what comment are "Stocks in Trade and

their Hongkong establishments, 2] to do with such a valuable site. The Sundry Stores" which show an in- retired from the Company in 1925. obvious alternative appour to be

crease of $176,540.07. This, however, Incidentally, it may be of interest, on ded as abnormal, In this occasion, to record the fact that I offices or to use it for the construc- tion of our much needed city hall, view of the volume of business now happer to be the only member of the museum and library. This, however, being handled also anticipated dim-staff, now in the Colony, who trad is all in the future; for the present culties in the near future in obtain the opportunity of attending the

of further celebrations held saary supplies the Colony can only regret that such a fate should "overiako Government | stock

ing nuirements, owing to short-occasion of the Company's Jublice In House and to express sympathy to age of tonnage and other factors con- 1891. His Excellency that he should be sequent on the prevailing situation. placed: In such a predicament at a time when the necessity of possessing a central and accossible residence greater than aver:before,

either to build new Government cannot be regarded

to

mark tho

Company's "Centenary

Sundry Deblors and Debit Balances As may be imagined, the necasion (less reserve for Bad and Doubtful of the Company's Centenary recalls Debts) amount, to $205,120.18, a de- to memory many--what might " hei crease of almost $40,000 on the figure tormed colourful incidents associated

H. K. C. C TENNIS TOURNAMENT

TO-DAY

STAND COURT

TSUI WAI-PUI

K. H. YIP

PROCEEDS TO SOUTH CHINA MORNING POST BOMBER FUND

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