1949-04-05 — Page 5

1

THE HONGKONG TELEGRAPH TUESDAY, APRIL 6, 1919 ~~~ ~~

Hongkong Rope Co's BABICH FACES JUDGE

Output Increased

$776,000 PROFIT DISCLOSED

A net profit of $776.180.15 was reported at the 60th ordinary yearly meeting of the Hongkong Rope Manufacturing Company Limited, held at the offices of the Company, Chung Tin Building, this morning with Mr Albert Raymond (Chairman of the Board of Direc- tors) presiding.

.

Mr Raymond said that the output of rope showed a consider- able increase over the previous year and the hemp market, which was still influenced by exchange controls and official buying, had remained firm.

Addresing the meeting Chairman satu:

In the Accounts now

I propose that Messrs. Percy the there remain eight which it is!

intended to reconstruct during Smith & Co. and Peat. Mar- before the year. The return from rents you the result of the year's appears to be in line with that wick, Mitchell & Co. be re-ap- for the en- trading is net proat of $770,- an other property in that dis-pointed Auditors

remuneration Interest trict.

suing year at a 180.15 which includes on Mortgage and Rents totalling

Turning to the Balance Sheet, of $1,750 each per annum. $116.804.10. This profit, added

have been

Mr A, A. Botelho seconded. to the balance brought forward Stocks and Stores from last Account and the auth valued as usual at cost or under, of $18,812, provision for Cor-Depreciation on Plant and Bull- poration Profits Tax no longer required, makes a balance priation Account of $928,908.68 which your Directors recom- mend be dealt with as follows: Transfer to Plant Re-

credit of Profit and Loss Appro

at

placement Reserve $100,000.00 Transfer to Staff

Superannuation

Fund

Transfer to

Staff

Passage Reserve .. Transfer to Chinese Staff Superannua- tion Fund

Transfer to Corpora- tion Profits Tax

essment

1040/1050

Transfer to Ead and

Doubtful Debts Reserve

Proposed Bonus to

Staff and Workers for 1043

Proposed Dividend

of $1 per share, free of tax

Proposed Bonus of

$1 per share, free of tax

Carry forward to

1040

counts.

From

Total

100,000.00

7,500.00

>

5,000.00

digs has been provided for on the customity bags and our Current Assels exceed Current Liabilities by $789,935.20 Apart

from the increase in Payments due to purchases In Advance, of Hemp, I do not think there are any other points requiring

comment,

OUTPUT UP

NEW ARTICLES

Al the Extraordinary General

Meeting, the Chairman sold:

We were only able to recover one copy of the Articles of As- sociation after the war and this Meeting has been convened for the purpose of considering and. if thought At, adopting the draft new Articles of Association.

Advantage was taken of the

Our output of Rope showed a considerable inerense over the previous year and the Hemp market, which is still influenced necessity of having the Articles by exchange controls and off-reprinted to have them revised cial buying, has remained firm. and amended, as Indiested hi We have in hand and on order the Notlee convening this Meet- a good stock of raw materials and it is not anticipated that 1ng, and in the draft of the pro- 80,000.00 the production of Manila hemp posed new Articles which has this year will much exceed half been open for your inspection at the pre-war balings.

the Bend Office of the Company for the past three weeks.

5,000.00

are in

ore

Most of the alterations due to the incorporation of your General Managera, and Article 67 gives the Board power to

Our deliveries for the first quarter of this year 33,735.00, excess of those for the corres

ponding period of last year, but you are doubtless aware of the 200,000.00 unsettled political situation pre-appoint one of their number. to valling in a number of the inke the Chair at any meeting. Far Eastern countries which 200,000.00 formerly

good markets for our Rope, and will not ex- ∙197,733.08. pect me to prophesy regarding

our future prospects. $020,008.00

wero

I hope you consider the result, of the past year's working sutis These recommendations have factory, but I must point out been incorporated in the Ac- that, due to the conservative policy of your Directors in paci time to lime

Sears, this has been achieved your Directors have given coraldera- with assets worth considerably tion to the completion of the more than the figures at which the Balanes they for modernisation pf scheme

appear t which our plant,

Sheet and, was inter-

ta amplification of rupted by the war, and, though my earlier remarks, the profit they do not propose to embark shown in the Profit and Loss on heavy capital expenditure al Account does not indiente by how this present

much the depreciation based on time, recommend the transfer of $100,000 to Plant book values falls short of the Replacement Reserve which they provision necessary for replace- propose to strengthen by the ment of plant. transfer of the amount of $150,- 000 at credit of General Rċ- serve.

PLANT REPLACEMENT Further substantial sums will have to be provided over the "next"four"or" five-years ns-vel- are faced with the task, which is attracting much attention replacing A everywhere, post-war prices plant for which depreciation has been provided for on the original cost.

a

I now beg to propose that the Report and Accounts together with the Appropriations therein recommended be adopted and passed nil that the balance of $107,733.08 be carried forward

next account.

For a considerable time the Members of your Board have felt that their remuneration has been quite Inadequate in view of their duties and responsibili- ties, and in the proposed new Article 91 this is increased from the $1,000 per annum, at which it has stood since 1933, to $2,500 per annum and such Company further sum as the may in General Meeting from

ime to time determine.

For similar reasons your Board consider that Article 00 should be amended to provide

for the qualification of a Diree- tor being increased to 500 in- stend of 50 shares.

I do not think there are any other points requiring explant- tion and I now propose us રી Special Revolution:

Milton Babich, 19, (left) appears before Judge Roland J. Steinle at a labeas corpus hearing, in Milwaukee. At right is Deputy Dist. Atty. John S. Barry. Dist. Atty. W. J. McCauley later issued a warrant charging Babich with the slaying of Patricia Birmingham, sister of his bride, Kathleen, 17. McCauley said Babich mndo a statement to AP Picture. him admitting he killed Patricia. —

GOVT. TROOPS MOP

UP IN MANDALAY

Recapture Of Maymyo

Expected Soon

Rangoon, Apr. 4.-Government troops to- day mopped up pockets of insurgents in Man- dalay, the central Burma temple city and capital of the ancient Burmese kings, which was captured from the Karens and Communists last night.

re

to

The main force of the insurgents had re- treated from Mandalay along the road Maymyo, a hill station 40 miles to the north- east, as the Government troops advanced. About 130 Karens and Com-forces of the People's Volun-

killed. munists were

and 30 teer Organisation, who are co- captured before the town was operating with the Government in Government in this area. it was learned to- completely hands again after a fortnight's night. This is the largest num- acber of Karens to surrender ut occupation by the rebels, cording to the latest offcial re- Inseln at a single time. porta.

The Burmese

Democratic

An official spokesman stated Party, led by a former Cabinet that Government troops hud Minister, Thakin Ba Sein, to- reoccupied Tongyi, in insur-day pledged its support to any gent stronghold three miles Burmese Government "which north of Maymyo, and were will ensure a just and democra

attic administration." launching a two-pronged

Mr Calwell Seeks New Immigration

Restrictions

Canberra. Apr. 4The Aux- trallan Cabinet will meet Thursday to consider lexis- tion proposed by the Immigra ton Minister, Mr Arthur: Cal- well, for a stringent tightening of the Immigration Act.`I was authoritatively learned here to

day.

Two weeks ago, Mr Calwoll announced that he would seek amendments to cnrrect the

westcnesses disclosed in the Act by the Australlan High Court judgment in favour of Mira Arinto O'Keefe, who sought an injunction against deportation.

Mra O'Keefe, an Indonesian, came to Australia as a refu- gee during the war and married an Australlan.

The High Court, by a majorliy decision, ruled that she was not a "prohibited Immigrant upon her arrival in Australia and had not been askel to submit to a dictation test within five years of landing here, as required un- der the present Immigration Act.

The dictation test is used to establish whether a person iş a prohibited Immigrant. Any language may be used for the test.

The proposed new legislation Is expected to provide:

ot

1-For the deportation aliens for political reasons--for the first time in Australian his- tory-and that aliens may be deported without explanation.

2. For legalising the de- portation of hundreds of war- lime allen refugees who have already actually been de- ported.

3-For the tightening of the Act to enable the Immigration up the re- Minister to round maining aliens whom it is desired 10 deport and in empower the Minister to de- port them.

ta

The amending legislation is

submitted expected to be the next seaslon of the Com- monwealth Parilnment, opening- on or about May 18.-Reuter.

Atlantic Pact Signed

(Continued from Page 1)

tack on Mayinyo itself, which The changes in the weekend of the British people.

nation, and I am satisfied that are taking hos the step we the almost unanimous approval was expected to fall "nuy Cabinet reshuffle will be on- "Like other signatories, my any."

nounced tomorrow, and the country has had forced upon it At Inseln, the Karen-occu- present Government will func- the great task of fighting two pled town 13 miles north of tion provisionally until the world-wars-against aggression. tangoon, 200 rebels surrea general elections, due on July within a period of a quarter of thedered today to "White Band" 4,

usually well informed a century.

"That as 'on and from the dale of passing of this Resolution the Regulations contained in the printed document submitted lo ite Meeting and for the purpose of identification subscribed by The Chairman "thereof be up- proved and adopted as the On the proposal of Mr R. V. Articles of Association of Lederhofer, secunded by Mr Company In substitution for and S. L. Granville, Mr S. T. Wilto the exclusion of all the exist llumsen und Mr A. Raymond ing Articles thereof." were re-elected to the Board,

For instance, if it would now Lake £6,000 10

four replace machines which originally cost

£3,000 and the

accumu- money lated through depreciation will two machines. the only buy output of this section of our factory would be halved, and This reduction could only remedied by raising new capi- tal, which would be unsound Anance.

RE-ELECTIONS

Major C. W. L. Way seconded.

SMALLPOX SCARE

sources said.

"The cost in human life and Lieutenant-General Ne Win,

treasure was appalling. Suc- Commander of

in the Supreme

the the Burmese Armed Forces, and period following

ceeding generations

each struggle

one

Members of of the new

state

the Cabinet, stated tonight tost over a wide area of the world his main objective in joining were thrown into the present Government was uncertainty and harassed by

dor wars of nerves and civil wars. "10 restore low and order

+

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WARNER BROS. PICTURE

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WARNER BRoe!

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THE Chairman: The nex! Present at the meeting were: business is the appointment of Mr A. Raymond (Chairman). Messrs. Percy Sir Robert Ho Tung, Mr Horace and Auditors, Smith & Co. and Peat, Mar-Kadoorie, Mr S. T. Williamson, wick, Mitchell Co. offer Mr I W. Shewan (Directora), Landon, Apr. 4.--The Minis-

throughout the country and to "The common people, who for reappointinent. Mr H. J. Armstrong Legaly of Health revented today hold free and fair elections as only want to live in peace, have themselves

who died at have be They

approached

soon as possible." the Adviser). Major C. W. L. Way, that a passenger

been unable to follow General Ne Win. who was peaceful pursuits or to sleep Board for an increase in their Messrs R. V. Lederhofer, A. A. rea on April 1, abeard the liner

and this, Botelho, D. E. Kibble and S.L.

suffering Mootian, had been fees of $500 each.

broadcasting as a member of

safely in their beds, After

(shareholders) due consideration, your Granville

and

from smallpox, and warned thai the Government over Rangoon

might developRadio,

he would J.

added that Spradbery (Acting further enses Directors have agreed as being Mr E.

"They have seen their con- Secretary);

among these who left the ship adopt both violent reasonable.

and non-stitutions crushed-constitutions London and Marseilles,

violent methods to achleve

in which they thought they had The Mooltan arrived in Lon- these objectives.-Reuter... made their liberty secure. don from Australia on April 2, with 953 possengers and 411

In saying this, I am aware that it is impossible to forecast accurately the price which we may be called upon to pay for new plant, but I would fall in

my duty were I not to impress SIDE GLANCES

on

providing

unce

the

of you

necessity 10:

mainten- the that of

of part

our Capital which is invested in fixed assets, by the allocation to Plant Replacement Reserve of sums to offset the loss in value of those fixed assels over depreciation on shown in the

and above book valucs

necounts.

I trust that the provision for to Stuff and Workers, Bonus who have again done very good work, will have your approval. as also the proposed allocation of $100,000 to Staff Super- annuation Fund which is in- tended to augment the amounts nt credit of the Staff Provident Fund of

members

certain whose retirement after long and faithful service is impending In Usin connection I regret to have to tell you that, in spilo of prolonged sick leave, the health of our Secretary,

Mr

F. J. Tavares, has not improved to the extent of enabling him to resume his duties and your Board have reluctantly been to termiento his compelled employment as from the end of this month.

In view of his long and faith- ful service your Directors voted. him a ratining gratuity which will be debited to the proposed Stoff

approved annuation Fund if

and I am sure you in wishing

will join with me

him recovery of his health.

Twenty-four flats of our House

2-7

By Galbraith

1

COPR. 194Ì BY MEA BERVICE, ING. Y. M. REG, U, B. PAT, DEFJS.

Property at Kennedy Town "Can't you deduct that dinner we gave your boss? Surely ・have' been rehabilitated and

that's businosa expenses!"

crew.

Local authorities have been Indvised of the

of all names the ship-in- who len without vaccination when called at Marseilles-and the addresses to which they have Conc.-Reuler.

persons aboard, cluding a number

Anglo-Siamese

Arms Deal

Crowds Flock

To Cemeteries

Shops Close For Ching Ming

where

10

Fre

"We have witnessed a period in which, while the countries been here have represented

to rehabilitate striving world and

restore to prosperity and sanity, they have been constantly frustrated in their efforts."

to

ONLY COURSE LEFT

all the

P.M.'

MY WILD IRISH ROSE

DENNIS ♬

MORGAN

TECHNICOLOR!

GE

16 SONGS!!!

**ARLER DAM, AMORÍ A SLING - ALAN MALE CLORS FORUL GEORGE OBRIEN BEH BALE SUN ALCOCO BEA

***DAVID BUTLER —

the

It

To-morrow:

SEE

peoples

Great lo

of the

"BETWEEN ́US GIRLS"

SEE SEE

VO VC VO VOTE

MR.BL. MR.BL. MR.BL. MR.BLANDINGS

BILDS WIS – KUILES MIS, BUILDS HIS VÉROLAS NG AVERR MÅKET

LAUGH CAN LAUGH CA. LAUGH CATENRAUGH CANDIDATE, OF THE YERLOF THE YE. OF THE YEAR THE YEAR

Radio Hongkong FOUR VIETNAMESE

6. Programme

4.01.

ARRESTED

Paris, Apr. 4The four re-

tried with "We have all genuine desire and high pur- pose

to bulld #n effective United Nations. We have en- to manke itm Today is Ching Ming, the day deavoured which Chinese custom for machinery work and to create thousands of years has set aside high confidence in this

60 1 as the day on which the living world organisation

tribute to their ancestors enable it to establish security London, Apt. 4-Britain is pay tri

Chinese arms to the

and for selling sufficient Siamese Government to com- business offices have declared a world. plete the equipment of five in- day's holiday to enable their "But so far our hopes have fantry battalions

stationed in employees to visit the graves not been fully realised. What Southern Siam. the Under- of their

course then was left to us? We Secretary of State for Foreign Aberdeen.." Wan and other

had to get together and bulld there Affairs, Mr. Christopher May-districts

with such material as were: hew, told Parliament today.

have been Chinese cemeteries

available to us, and thin The agreement for this frons-crowded this morning, and hire material was happily at hand in HX.T. action had been reached cars have been busy.

this great Atlantic community, | Children's

Story:mary presentatives in Paris of Dr Ho through normal diplomatic Thousands of Chinese have with a common outlook and de-30, Cantonese by latis. Given by Chi-minh, the Vietminh revolu-

G. Hulme Beaman (BBCT); left the Colony in the past week sire for peace."

Mian Lee Wal-fan 8. K. Lee, tionary leader, bailallions

(Studio); 0.30. Balon Concert themselves as the semi-official would use the arms to preserve for their homes in Kwangtung

on their annual pilgrimage to "The countries whose repre-layers; 7, American Lettor by on the Siamese-Malay the graves of their ancestors sentatives are signing this great tale Cooke London Relay representatives of the Vietnam order

of 115 "Down Honolulu Way With Revolutionary Movement, were The railway authorities have Pact today border in co-operation with the

are composed

Felix Mendelssohn' tawallan today indicted in Paris for security

forces of the Malay been running five trains a day peace-loving peoples with spirl-Serenadem: 50 Down Men subversive

lo Canton since April 1 Instead tual affinities, but they also have World News and News Analysis will be tried before the Paris Federation.

activities. With Allsen (Studio):

They The British Government had

usual four, and have great pride in their skill nud

London Relay,

0.15, Meet The correctional courts-Reuter. 180 offered to supply a small carried out of Hongkong an their production, and in their Tarngang

**Grand Hotel" quantity of equipment and arma

5,000 пvorage

passengers achievement in

mustering the Albert Sandler & Falon Orchestra

Win Norman for S'amese polico units codaily.

the British with Operating

There has also been a heavy forces of nature and harnessing (ass): P. "gram

the great resources of the world London Relay) $10, Interlude; security forces in

the border demand for, plane and steam-or the benefit of mankind. Our 9.15. The Brming Trust Guests (Violin): 10.10, The Muse of He

ship passagen. area, he added.

Blapter "King-1imii. Į Dinah Shore "an duest Artist; 1, Mr Mayhew was replying to

will maintain peoples, do not glorify, war but Lord Samuel, Miss Dilys Powell and hens: 10.30, Musin for Dan He The railway

9.43, Chamber Music | Ceremony, of the signing" of the an inquiry for information by the Ave trains a day schedule they will not shrink from it if Question Master: Gilbert Harging Radio News Rel. Special Edition:

threatened. | (BNCTS);

Recital. *Bonatas" Schata

Alanula Pact (Landon Relay): 11,34, Mr D. N. Pritt, an Independent for some days to cater for the aggression

Reuter. return of the pilgrimy..

Major (Caesar Franck).... Artur Weather Juport and Close Down. Labour Member-Reuter,

channels, he said. The Siamese

of the

of

Commander

חלונה

Court

the Editorials"

Rubinstein

who described

(Piano) Jascha toleta

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