1941-04-16 — Page 21

Evacuation

&

Wednesday,

HONGKONG · TELEGRAPH

Currency

April 16, 1941.

Problems Of Reported

Hongkong & Shanghai Hotels

A diminution in earnings, attributable to the evacuation measures coupled with the correlative restric- tions now in force in relation to obtaining permits for entry to the Colony, was reported by Mr E. M. Raymond, Chairman, at the annual meeting of the Hongkong and Shanghai Hotels, Ltd, held this morning.

Referring to the Company's establishments in North China, Mr Raymond said that while the results attained by them were highly satisfactory they were offset to a material extent by depreciated currency.

Regret at the retirement of Mr J. 11. Taggart and a tribute to his services to the Com- -pany were also expressed by Mr Raymond.

are

Smith, Seth and Fleming as auditors extra services during the past year and a payment to them of $3,300 for were approved.

Ulmury, Simrento Couri

Present at the meeting were Me |ing been met out of working revenue E. M. Raymond (Chairman), Mr J.

surplus.

Scott Haraton, the Hon. Mr M. K, Lo, submit there Do further Mr D. C. Edmonston, Sir Robert Ho items in the accounts which call for Tung, Mr Lawrence

Kadoorle comment from me.

(Dicciors), Mr P. H. Suckling | You will doubtless expect me to:

Director), Mr E. 0. Mr Raymond said: Before I during the past eight years and is, The hotel in Pelping operated by that respect I am glad to be able S. II. Ross, M. H. Lo, V. C. Labrum,

remark upon future prospects. In Murphy- (Acting Secretary), Measra SHIRTS proceed to review the affairs of in the opinion of the Board, qualled our subsidiary company enjoyed it to state that our hotels in the north J. P. Sherry, C. M. Hall, La Yuk-

bigher earnings in respect of its last have boon doing business Lo your Company during the past to all the "osition. financial year I have to report regard to the Accounts sub-nuncial year ended on June 30, 1040, Leonacity during the first quarter of Vaswani and H. Gittins

fall tong, A. M. d'Een, C. C. Binke, D. W to measure for your consideration to-day, than those reported in respect of you will observe that the primary previous

Again, however, the aware the

current year, but years.

the the source of credit to the Profit and factor or depreciated currency cur-

emaiance of Working Account Loan

represented by the tailed the benefit accruing to the Company, and the Dividend appears at

at $019,787.88. This figure in we received brought to credit in the some $349,000 less than the amount Proßt and Loss Account under the of the credit under that heading for heading of "Dividend on Investments the previous year, and it reflecta ant

represents an increase

With

with much regret the retirement as from the end of February last of Mr J. H. Taggart, from the post of Managing Director.

The state of Mr Taggart's health And given grave cause for concern for a considerable time. As improve

was finally compelled, under medical attributable to the advice, to make speedy arrangements measures effected by Government in to leave the Colony, and in the cir-July last year, coupled with the cumstances, your Bourd had no option correlative restrictions now in force but to accept his resignation with in relation to obtaining permits for extreme regret.

entry to the Colony,

parent

ment thereof did not eventunte he iminution in earnings In Hongkong for $25.207.30 rep.000 only over the

Mr Taggart has applied very stren-

at

Evacuation previous year's figure.

of

Com-

03

you are holders)..

loration has worsened since the turn offact of exchange deter- of the year. Moreover, in the north as well as in Hongkong, operative costs are soaring rapidly and cannot entirely be passed on to patrons under prevailing conditions,

(Share-

Village Robbery Foiled

The

were

Passengers To Hongkong With regard to Hongkong Extab- Referring to items listed to the shments, business from passenger deblt of the Profit and Loss Account, arrivals in the Colony is sparse, and Corporations Profit Tax makes its although we are deriving a saflstue- first appearance therein in the sum tory turnover from our various of $19,935 and is an opportionment restaurants and ball rooms, in

In the Effects Of War

of the assessment covering the nine absence of a larger volume of Duc to the resourcefulness of o ยอ ous work in the service of your It has unfortunately been the tusis months of the fiscal period which "lodging" revenue the final results of villager's wife, six robbers Company over a period of 34 years; of the Chairman presiding at the last debit in respect of $10,000 donated to present level of business can be but occupant of a hut in Tsun Wan, New fell in our last Anancial year. The our operations in the Colony at the frustrated in an attempt to rob the our reards inscribe, his arrival in two Annual Meetings of your Hongkong as June, 1907, when, he

to report upon the adverse

the South Ching จากการ

Morning Post incapre. Our took up a post with the Hongkong effect upon the

Garage Department, Territories, last evening. Fund earnings

According to a Police report six Hotel Co., Ltd., which Company

is, I feel sure, un-always a steady and satisfactory con- Your Bomber Establishments brought nimously approved by you. I do not

attributer to general results, is expert-men, one armed with a a revolver and Hongkong operated the Hongkong about, Aratly, by the Sino-Japanese think there are other items in the encing many dificulties, as a result another with a that time

rifle n

entered a

hut Hotel unly. The subsequent w.den-cont

conflict,

and subsequently, by a Profit and Loss Account upon which of the war. Units manufactured by about 11 p.m. in Ha Wai Chun Village. ing of the scope of the Company furt

further disadvantage encountered need comment. The net profit our principals in England cannot be Tsun Wan, and threatened the owner activities which took place involving due to the big reduction in chipping area with $101,558.18 for the year for many months. Although ear and to ransack the premises.

obtained, and

and have been unobtainable and his wife. They then preceded

The ploneer work and merger with other arrivals in the Colony experienced as pared with

vil- Corporations, thus gradually convert an outcome of the war in Europe, 1930) and adding thereto the sum of truck units sufficient do completely loger's wife, however, broke away in the organisat on to its prrent size, was to a large extent impelled with a lack of transient patronnge in $335,047.20 brought forward from the full known demands can be obtain and blew a police whistle.

1 regret I have consequence.

This brought other villagers to the to previous account, a balance of $665,- ed from the manufacturers of the by his energy, acumin anu jusque report on immediate and severe 810.20 is provided for appropriation. American product we represent, we hut, and the robbers who had mean-

further drop in

Balance Sheet Outstanding Qualities

our receipts from

are barred from sequiring them by time decamped, were chased. One of His constant exercise of those fallowed the evacuation order re-will note that additions are recorded

Tetling hotel accommodation which Passing to the Balance Sheet, you the local import restrictions.

the alleged robbers was caught in o Appreciation Of Staff barbed wire entanglement when the qualities, which he possesses

to unferred in.

Up to date a recovery into "Buildings, Furniture and Fixtures At this juncture I desire to record villagers came upon him. outstanding degree, has enabled your that branch of our revenue has not and Plant."

One shot was fired by the robbers, The "Buklings" figure an expression of sincere appreciation Company to produce highly satisfac-

moment tory results as well as to weather eventuated and at the

relates to the Palace Hotel, Shanghat, of the work carried out by the mem- but no one was injured. Ruccessfully certain periods of ad-,'prospect of improvement is not ap- the "Plant" amount covers the cost berg of the Staffs of the Company in of a sinall addition to the cold Hongkong, Shanghal and. Peiping. veralty which have been met, and parent. he has moreover wrought

much for

storage plant at the Peninsula Hotel, All have worked in the Company's I am, however, pleased to be able and the larger amount included for interests unremit:Ingly in a 'very dif- the improvement at Hotel operation to state that a review of the volume "Furniture and Fixtures" is as in the Far East

foficult period, and in a manner tend- generally. Although many Corporations. registered in the of local support accorded during the about fifty per cent thereof in res-ing to the enhancement of the Com- Colony owe him a debt of gratitude year to our various restaurants, ballpect of equipment for the Palace pony's reputation. in respect of the able assistance he rooms and cafes in Hongkong provides Hotel, the remaining moiety covering There being, no further matters to kas rendered to them, your Company a more cheerful aspect, such business items connected with re-modelling which I can usefully refer, I now hus, always had first claim upon his having been maintained at the same work done to Hongkong establish-beg formally to propose that the Report and Accounts for the finon- qualities of direction and your Board gratifying level as pertained during rents.

the

On the contra side of the Balance etal year ended on December 31, regard the enforced relinquishment previous year.

With regard to our establishments Sheet you will observe that depletion 1940, as presented, be adopted, and of his office as a severe loss to the

.SHIUKWAN, Apr. 15 (Central occurred to Company. I express the unanimous in North China, the operation of the has

the "Exchange that the balance of $065,810.20 stand-News) The Japanese have been wists of the Directors for his speedy Palace Hotel in Shanghai has again Fluctuation Account and the "Re-ing to the credit of Profit and Loss knocked out of Helfung and Kung-

provided a sentimenii

a highly satisfactory result. pairs and Renewals Account." The Account be appropriated as follows: ping on the return to good health,

southeast Kwangtung with which I feel sure you will be The substantial progress made during ramifications of the deterioration of A Dividend of twenty-

coust as Д result of a sweeping work the In entire accord.

five cents per share $290,406.75 Chinese counter-offensive. planned to guests'

Ing the

the year compelled the

Retiring allowance to

Milltary dispatches reveal that the ond the mentioned appropriation of $32,846.69

J. H. Taggart,

Chinese made and the depletion of

a daring attack at 0.0.E.

50,000.00 Kungping, north of Hoffung, at mid- Carry forward to 1941

night on April 10. Braving heavy Account

317,343.45 Japanese fire, they broke Into the town and engaged in street fighting $605,810.20 with the enemy.

Retiring Allowance

and

Local Support

the year, in the impration Chinese National Currency dur-

further stimulated business result achieved for the last account ing period surpasses previous records set for that hotel. Unfortunately, as

first

of the "Repairs and Renewals Account" credit by $55,430.00 arises in connection with

I suffered a further collapse during novation work; the like experimure

The proposal was seconded by Mr

Appointments

Kwangtung Success Of Chinese

There

is

ہے کہ میں ایک کلو

a great satisfaction in being

Individual in the matter of shirts and in having them made from a material of your own choosing.

They can then be made to your measures, and in a way which embodies your personal preferences.

And this need not be expensive for we have a number of exclusive patterns from which to make your shirts with two collars to match for as little as $13.50.

LESS OUR 10% DISCOUNT FOR CASH

MACKINTOSH'S LTD.

PRESENTS

MEN'S WEAR

SPECIALISTS

FOR

EVACUATES

IN

AUSTRALIA

ARRANGEMENTS HAVE BEEN MADE BY

COOK'S

WHICH ENABLE PRESENTS TO BE CHOSEN FROM

CATALOGUES IN HONG KONG AND PURCHASED AND

DELIVERED IN AUSTRALIA. FOR PARTICULARS

APPLY TO-2.

After suffering heavy casualties, THOS COOK & SON, LTD. Queen's Bldg.

the Japanese evacuated the lowr and retired to Holfung. Following in hot

The appointment of Mr P. H. pursuit, the Chinese smashed into

In an endeavour to express re cognition of Mr Taggart's very valuable service to the Company over the past 34 years, your Directors unanimously decided to vote him a you know, the Shanghai currency expenditure upon Palace Hote) re- retiring allowance of $50,000

1940, factor which offset to a mater- on the Peninsula

and feel confident their action meets with your aproval as fitting in the cir-ed earnings when conversion thereof Hotels, combined with an outlay in M. H. Lo and carried unanimously.

thereof respect of certain large scale interlor cumstances.

came to be made into Hongkong cur and exterior painting and decoration The Board has appointed Mr F. H. rency for merger in the general work carried out at all three Hong-Suckling to the Board was confirm-Holfung at 11 pan. on the next day Suckling to the post of Managing

accounts.

kong establishments. Director in succession_to_Mr_Toggart,

-Overdraft Mr Suckling has been employed with the Company for the past eighteen The Astor House Hotel tenancy The Overdraft position with our and is thoroughly conversant arrangement, previously reported Bankers is approximately the same years with all branches of the Company's upon, worked smoothly during the as shown last year, the Dividend de- On the proposal of Mr V C. business. He has worked in very year, and a satisfactory income ac-clared last year and the capital ex-Labrum, seconded by Mr C, C. Blake, close association with Mr Taggart crued therefrom.

penditure incurred during 1940, hay- the re-election of Messrs Percy

Astor-House-Hotel-

"STAY-AT-HOME WIFE

"missed all the fun

(THINKS)

JACK WILL BE SO DISAPPOINTED! WHEN I TELL HIM THAT I DON'T

FEEL LIKE GOING TO THE

RACES TO-DAY.

AT THE DOCTOR'S

IN YOUR CASE ALSO THIS HAS LED TO AN EXCESS OF ACID WASTE PRODUCTS IN THE BLOOD. RECENT TESTS HAVE PROVED

„THAT HORLIKS AT-BEDTIME IS WHAT- YOU NEED

ORLICKS

SIX WEEKS LATER HORLICKS REGULARLY SOON GAVE HEA NEW VITALITY

JACK DEAR

-DO YOU MIND GOING ALONE?

1 FEEL

"DONE UP"

WHAT, AGAIN DARLING. IT IS TIME YOU SAW

A DOCTOR' ABOUT THIS

TIREDNESS.

NEXT RACE MEETING

JACK DEAR THAT'S 'THE THIRD WINNER WE'VE-PICKED. THIS AFTERNOON

CLEVER OF YOU DARLING! X-YOU'RE A ADIFFERENT PERSONÁ

SINCE TAKING.

HORLICKS

DO YOU FEEL WORN OUT, DEPRESSED, OR NERVY? DO YOU EVEN AWAKE TIRED ?

ed and the re-election of Mr L. and recaptured the important coastal Kadoorie approved, on the proposal town. of Mr S. Hampden Ross, secunded by Me C. M. Hall,

AT THE DOCTOR'S.

..I EVEN WAKE

TIRED

YOUR TROUBLE IS NIGHT.

STARVATION. YOU SEE,WHILE YOU SLEEP, YOUR HEART, LUNGS AND OTHER AUTOMATIC

PROCESSES CONTINUE USING UP ENERGY.

DOCTORS AND SCIENTISTS USE HORLICKS

REC

IN HOSPITAL TESTS

ECENTLY tests were made in a great hospital, on men and women who com plained of always feeling tired.

It was found that these people had an excess of acid waste products in their blood during sleep.

This sold waste kept the brain and nerves 'on edge' all night even though the rest of the body was sound asleep.

But when Horlicks was given to these people last thing at night, this excess acid waste was complatěly neutralised. They woke rofreshed, with Increased energy and vitality.

Take HORLICKS

SHIUKWAN,

Warship Sunk

Apr. 15 (Central News) Japanese warship of light draught is reported to have been hit and sunk by Chinese shells in the Pearl River on April 10.

Steam Launch Sunk LOYANG. April 15 (Central News).-A Japanese steam launch with a cargo of ammunition sailing from Taikang to Hwalyang in east Honan was attacked at Wangisi by Chinese troops on

on April 13. The launch was sunk

aboard were and all the Japanese Naval Bombing

SPECIAL TO THE "TELEGRAPH" SHANGHAI, Apr. 10 (Domel),-~~ Japanose naval planes launched a three-hour attack along the Che- klang-Kongsi Railway, where they straddled the enemy's military estab- lishments and bases.

In Hupeh

SPECIAL TO the "telegraPH”. HANKOW, Apr. 16 (Domel).— įJapanese units late on Monday after- noon fiercely attacked a strong enemy Įposition on a 700-metre hill in the Tahung range of Hupeh. Alded by Army air units, they succeeded in reducing the enemy's strongbold and entered Sanliang..

Death Sentence

The

For Corruptions LION

CHUNGKING, Apr. 16 (Central Nows)-Chang Wan-halang, chict traffic Inspector in Kwelyang, was recently court-martialled and sen- tenced to death on charges of bribery and extortion.

Hau Pel-liang, and Yu Sul-hsing, traffic Inspectors, and Kung Cheh- sheng, traffic officer, were sentenced to imprisonment on similar charges.

Stopped Chinese With

Bus "Stop" Sign

Bentence of one month's hard labour was imposed on Lal Tæen, 43, unemployed, by Mr A. N. Macfadyen at Kowloon Magistracy this morning for stealing a bus "stop" sign of the Kowloon Motor Bus Company, from the junction of

dan Fond Street and

Jordan

It was Bald that about p.m. on THEN YOU WILL

April 14, a

Chinese constable saw SLEEP SOUNDLY Defendant walking along Shanghai WAKE REFRESHED Breet near Waterloo Road, carrying AND HAVE EXTRA cloth bag in which there appeared The ENERGY ALL DAY to have been something heavy.

We constable opened the bag. and found

a broken bus stop sign.

HAS WINGS

All along the wide Battle Front our Aircraft : -the wings of the Lion-aro fighting desper- stely to proserva the freedom of the British Empire

To keep the wings flying at the highest standard obtainable means co-operation.

Back up the BOMBER FUND.

Put your MONEY: on the Lion's Wings" and VICTORY.

SEND YOUR DONATION TOMA

sdar: to

WAR FUND SOUTH CHINA MORNING POST, LTD.

DONATIONS TO DATE:"

-$1,758,171:50:00

MITTED TO LONDON:

£108,889.19.6d.