154
THE HONGKONG GOVERNMENT GAZETTE, FEBRUARY 8, 1907.
HONGKONG & SHANGHAI BANKING
CORPORATION.
EIGHTY-THIRD
REPORT OF THE COURT OF DIRECTORS
TO THE
ORDINARY HALF-YEARLY GENERAL MEETING
OF
SHAREHOLDERS
TO BE HELD
AT THE CITY HALL, HONGKONG,
ON
Saturday, the 16th February, 1967, AT NOON.
To the Proprietors of the
HONGKONG & SHANGHAI BANKING
CORPORATION.
ABSTRACT OF ASSETS AND LIABILITIES, HONGKONG & SHANGHAI BANKING CORPORATION,
Bist December, 1906,
Paid-up Capital,
LIABILITIES.
Sterling Reserve Fund, Silver Reserve Fund, Marine Insurance Account, Notes in Circulation :-
Issue Authoriset
against Securities deposit with the Crown Agents for
the colonies....................$1,000.000.00 Aduitiond Issue au- thorised by cong- kong Ordinares No. 19 of 1980; against Coin lodged with the Hongkong Gov- ernment.
$10.000,000,00 10,000,000.00 10.250,000.00 250,000,00
Cr.
By Talance of Undivided Profits, 30th June, 1966. Amount of Net Profits for the Six Months ending 81st Decem- ber, 1906, after ink- ing provision for bad and doubtful debts, deducting all Expen- ses and Interest paid and due,
$1,712,472.87
2 720.680.81
S4,438,102.68
$4,433,102.68
STERLING ESERVE FUND.
To Ba'ance.....
.$10,000,000 00
$10,000,000.00
By Balance 30th June, 1906,
(invested in Sterling Securities)
.$10,000,000.00
6.075,825.00
$10,000,000.00
16,075,825.00
Current Silver $68,932,876.86 Accounts, 1 God,
SILVER RESERVE FUND,
£4,181,638 11s 27-36,089,096.06
105,021,972.52
To Balance,
$11.000,000.00
.$49,329,279.33
$11,000,000.00
94,187,909 86
By Balance 30th June, 1906,
$10.250.000.00
་སྭ
Thster from Prout and Luss
Account,....
750,000.00
$11,000,0:0 00
GENTLEMEN,
The Directors have now to submit to you a General Statement of the affairs of the Bank. and Balance Sheet for the half-year ending 31st December, 1906.
The net profits for that period, including $1.712.472.37, balance brought forward from last account, after paying all charges, deducting interest paid and due, and making provision for bad and doubtful acconuts, amount to! $4,433,192.68.
The Directors recommend the transfer of $750,000 from the Profit and Loss Account to credit of the Silver Reserve Fund, which Fand will then stand at $11,000,000.
After making this Transfer and deducting Remuneration to Directors there remains for appropriation $3,668,102.68, out of which the Directors recommend the payment of a Dividend of One Pound and Fifteen Shillings Sterling per Share, which at 4/6 will absorb §622.222.22 and a Bonus of One Pound Sterling per Share, which at 4-6 will absorb £355,555.55.
The difference in Exchange between 4/6, the rate at which the Dividend and Bonus are declared, and 231, the rate of the day, amounts to $968.766.01.
The Balance $1.721,558.90 to be carried to New Profit and Loss Acconut.
NEW CAPITAL.
After careful consideration your Directors have decided that it is desirable to further increase the Capital of the Bank from $10,000,000 to $15,000,000.
A Circular will be issued to Shareholders. shortly, and later an Extraordinary Meeting of Shareholders will be called to obtain your smction to the scheme being carried out, when your Directors will recommend the creation of 40,000 new shares of $125 each, to be issued to Shareholders at the price of £30 each payable at current rate of exchange, in the proportion of one new share to two old shares.
DIRECTORS.
Mr. G. H. MEDHURST has been elected Chairman for the year 1907 and the Honour- able Mr. W. J. GRESSON Deputy Chairman.
Mr. H. A. W. SLADE having resigned his seat on leaving the Colony, Mr. G. BALLOCH has been invited to fill the vacancy; the appointment requires confirmation at this meeting.
Mr. A. HAUPT, Mr. R. SHEWAN and Mr. A. J. RAYMOND retire in rotation, but being eligible for re-election, offer themselves ac- cordingly.
Fixe ↑ Silver, Deposits, Gold,
£5,138183. 68. 17—14,858 680.58
Bills Payable (including Drafts on London Bankers, Cali Loans aud Short Sight Drawings on London Office against Bills Receivable and Bullion Shipments), Profit and Loss Account, Liability on Bills of Exchange re-discounted, £4,162,364,~~, 10c of which £1,035,759.88.96. have since run off,
Cash
ASSETS.
13.878,966.22 4,433,102.68
$264 097,776.28
Coin lodd with the in kong Guy - crament against Note: freudation in excess of $10,000,000, Bullion in and and in fransit. Indian Government Rape Paper, Consols, Coloniad an other Securities, STERLING RESERVE FUND
INVESTMENTS, viz. :--- £598,000 24 per cent.
Consols at 82....
£490,300
(of which £250,000 lodged with the Bank of England Spe- cial Lindan Reserve.) £255.000 23 per cent. National War Loan, at 90. £325,000 Other Sto: Eng Securities, written down
to
229 500
-$50.896,108.72
10,000,000,00 2.047,016.00 2.038.621.12 6,598,016.78
280,140
£1,000,000 10,000,000.00
Bills Discounted, Loans and Credits, 93,039,746.29 Hills Receivable, Fank Premises,
39,034,593 40 1,444,274 02
$204,097,77628
GENERAL PROFIT AND LOSS ACCOUNT, HONGKONG & SHANGHAI BANKING CORPORATION,
Dr.
B1st December, 1906.
To AMOUNTS WRITTEN OFF :—
Remuneration to Directors, ..................$ DIVIDEND ACCOUNT:-
14
£1.15 per Share on
80.000 Shares
(}]}
15,000.00
.355,555,55
977,777.77
AUDITORS.
The accounts have been audited by Mr. W. HUTTON POTTS and Mr. A. G. WOOD, who offer themselves for re-election.
£140,000 at 4,6, ......622,222.22
Bonus of £1 per Share
80 000 Shares= £80,000 at 4/6
DIVIDEND ADJUSTMENT
ACCOUNT:-
Difference in Exchange between 4/6, the rate at which the Dividend and Bmus are declared, and 2,3§, the rate of the day,
A. HAUPT,
Chairman,
Hongkong, 5th February, 1907.
J. R. M. SMIT|], Chief Manager.
C. W. MAY, Chief Accountant,
A HAUPT, W. J. GRESSON,
G. BALLOCH,
}
Directors.
We have compared the above Statement with the Books, Vouchers and Securities at the Head Ofice, and with the Returns from the various Branches und A „encies, and have found the same to be correct.
W. HUTTON POTTS, } A G. WOOD,
Hon dong, ôch February, 1907.
Auditors.
THE WING ON STEAM BOAT CO..
LIMITED.
(IN LIQUIDATION).
NOTICE is hereby given that a General
Meeting of the above company will be held on the Stli day of March 1907 at 12 noon at 42 Bouham Strand West, the registered office of the company, for the purpose of hav- ing the liquidator's accounts laid before it and hearing any exp anation that may be given by the liquidator.
Dated the 8th day of February, 1907.
NG LI HING, Liquidator.
NOW READY.
―:0:-
THE PUBLIC HEALTH
AND
BUILDINGS ORDINANCE,
No. 1 OF 1903
(as Amended by Ordinances Nos, 20 & 23 of 1903.)
The Bye-laws as printed show Amendments approved up to 15th August, 1905.
NORONHA & Co.,
Government Printers.
Hongkong, 22nd September, 1905.
SHANGHAI FLAG CODE OF
METEOROLOGICAL SIGNALS
AND
LOCAL TYPHOON SIGNALS.
Copies of the above are on sale at the
968,706.01
ን!
TRANSFER TO SILVER
RESERVE FUND, BALAN. E forward to next imlf-
year,...
750,000.00
1,721,558.90
Office of
$4,483,102.68
NORONHA & CO.,
Government Printers.