January 31, 1895. Į
CHINA OVERLAND TRADE REPORT.
WEST POINT BUILDING 00,
LIMITED.
83
find no improvements to make in them. The heading of repairs is much larger than frmerly, Chinese matrices of his making now number for in addition to the maintenance of all the pro- 6 660, and will be shortly increased to 10,000,perties, we have had. I may say, an abnormal call' for use in the new Chinese Dictionary, now in
made on ns by the October typhoon and by the the press. In time they will add other Chinese plague, and I think it right that I should here characters up to 30,00) and what others they remind you that by recent legislation in this may need from the remaining 50.000 Chinese colony the amount to be expended in the future characters they will make as occasion requires; will have to be greatly increased. With regard but they never expect to mako and keep on hand to the accounts receivable, as I mentioned last the full 80,000 Chinese characters, since many year, this includes all interest accrued as well as are seldom if ever used. The usual fouts sent that due which although a bona fide asset cannot to missions contain about 1,000 different type be collected until its due date, falling a little lat- forins, and of each of these about four are in-
er than 31st December; the balance of the ac ded in a case, except of about two hundred count is made up principally of rent and interest type most frequently in use, of whiħ à double due on the day, these accounts are closed audmitting the report and accounts for the past
quantity is sent. Of Chinese type the Father which is generally paid during the first fortnight said the institution had maunfactured and sent of the new year. In comparing our position in away millions to the various missions. He nses 1894 with that of the previous year, you will two classes of casting machines: one worked notice that after deducting the amounts brought with a pedal feed and cut off," for Chinese char-forward from the previons account our profits are acters; and one with a fly wheel and crank, a $217,082, as against $202.941, showing an in very pretty machine, for all the regular shapes crease which, looking at the disastrous year of European and related types. The small ma.
this colony has gone through, we must charac- chine makes on an average about ten type a
terise as satisfactory. It has been a matter of minute, the other forty, but the capacity of both much satisfaction to your Directors that in the can be doubled if necessary. These Mission dire visitation of plague which afflicted the city Fathers have made the designs of all their in the summer of 1894 few cases. happily, oc- moulds, have made all their type, except a few curred on the Company's provertiąs.
Let us sample cases bought originally as models, and hope that the long deferred sanitary measures at have edited, printed, an Lbound countless books in
Fast being adopted may be effectual in preventing many of the tongues of the Far East, not-
any recurrence of the pestilence. As nothing ably, the Chinese Korean, Thibetan, Annamite, further occurs to me that I can usefully add to Cambodian, Malay, Bauare, and many other these remarks, I shall be very glad to answer dialects nsually printed in the Romaic forms of questions which the shareholders may wish type. They are now sugaged on the publication
to address to me before moving the adoption of of a Thibetan dictionary and the press work of the report and accounts. the first pages is a beautiful specimen of print- ing. They have a model press room and outfit. with everything kept in the best of condition; as their work so clearly indicates. Throughout all the departments of this cloistered compound reign the most perfect neatness and system. fur- ther evidences of an able executive. They are also now experimenting in collotype work and hope soon to produce something superior in that line and thus do away with the necessity of sand ing to Shanghai, Japan, or Europe for that class of artistic printing. They are also generally developing, among certain of the Chinese en- gravers, a few who will be capable of executing high class wood engravings for illustrations of a class for which line work is the most desirable. In the meanwhile the learned Father, who
The annual meeting of shareholders in this Company was held at Victoria Buildings on the 22nd inst. There were present Hon. J. J. Keswick (Chairman), Hon. C. P. Chater, Messrs. J. S. Moses (Directors), A. Shelton Hooper (Secre- tary), S. S. Benjamin, J. S. Ezekiel, P. Jordan, C. C. Inchbald, Douglas Jones. H. N. Mody, J. Goosmann, and M. S. S. Sassoon.
The SECRETARY read the notice calling the meeting.
The CHAIRMAN said-Gentlemen, in sub-
year, I have much pleasure in being able to say that our hopes of a year ago that we shoull be in a position to resume our place amongst the dividend paying companies have been realised, and that although the dividend we propose paying is small, yet the fact that we have been able to work off the debit balangs of $1,278.82 and show a credit balance on profit and loss account of $612.07 is very satisfactory. The property is now entirely developed, and we have an estate of 98 Chinese houses situate in a prosperons part of the city, and with a revival of the business of the colony we hope that we shall be able to obtain an improved revenue, thereby enabling us to pay increased dividends.
Mr. DOUGLAS JONES-I would like to ask if some of these what I might term nonsensical exactions to which I referred not long ago in this room, in the shape of the 9-inches concrete or other impervious material which has to be put on Chinese floors and yards—if this ridi- culous exaction is carried out, might I ask how far it will affect our property?
Hare we any estimate of the probable cost? I am afraid those who initiated this exaction did not go into the matter as thoroughly and calmly as business men and sensible meu might have done.
The CHAIRMAN-As far as we know, although we have not gone fully into the matter, it will. cost about $40 for each house.
The CHAIRMAN proposed the adoption of the report and accounts.
Mr. C. C. INCHBALD seconded. Mr. GooSMANN proposed the re-election as Directors of Messrs Keswick and Moses,
Mr. JORDAN seconded. Carried.
No questions were asked and the CHAIRMAN proposed the adoption of the report and accounts. Mr. DOUGLAS JONES-Gentleman. I beg to second the adoption of the report and accounts, is proposing which the Chairman bas gone so thoroughly into the affairs of the Company that there is very little for me to comment on. Amoug the several items which show to advantage, an improvement on last year, that which strikes me as being most satisfactory is the reduction of the amount on mortgage, taking, as I do, a somewhat gloomy view of the prospects. of property in this Ordinance-ridden colony. 1 cannot help thinking that the exactions on property which are likely to be enforced shortly must seriously affect people interested in all sorts of house property and land in the colony, and has a'ready done so much in the development of also it must have a tendency, I think, to drive this publishing department in all its branches, capital out of the colony. I further would chalas is continually experimenting and he hopes in a lenge any of those anonymous scribblers in the year hence, when they are moved into their new daily papers to produce tive men in the colony and spacions quarters at Douglas Castle. Pok-who have become rich on investments in pro- falam, to have better facilities for perfecting perty since 1888, or, in fact, who secure a fair several other improvements that are now shap- and ordinary interest on their money. Looking ing themselves in his thoughts.
at the disastrous year of 1824 I think we have every cause to be satisfied with the report laid b fore us; and I have much pleasure in second ing its adoption.
HONGKONG LAND INVESTMENT AND AGENCY CO.
The ordinary meeting of shareholders in this Company was held on the 22nd inst. at Vic- toria Buildings. There were present-Hon. J. J. Keswick (Chairman), Hon. C. P. Chater, Messrs. St. C. Michaelsen, N. A, Siebk, D. R. Sassoon, J. S. Moses, and Poon Pong (Direc ́ora), A. Shelton Hooper (Secretary), G. Murray Bain, J. Goosmann J. H. Cox, A. Denison, A. Tillett, F. Henderson, Douglas Jones, J. C Peters and 11. Sutherland.
The SECRETARY read the notice calling the meefing.
咩
The CHAIRMAN said-Gentlemen, the report and accounts for the past year which have now been in your hands for some days will, I hope, have met your expectations and have your ap proval, The amount adva ced on mortgage is $17,680 less than shown in the statement of the previous year and the interest earned a trifle more. The rents which the property yield show an increase of more than $5.000 on the last year's, whereas the amount invested iù property shows a decrease of $51.220. Our commission, account has more than doubled itself. These three principal sources of income speak for themselves as to the steady improvement in the finances of the Company, but in receiving the accounts I would also remark that the charges account has been slightly increased owing to the stationery account having been entirely included therein, which was not formerly the case, and the Chinese staff having been necessarily in creased on account of extra work entailed in our agency business. The amount shown under the
Carried.
Capt. TILLETT moved the re-election of the retiring Directors, Messrs D. R. Sassoon and Poon Pang.
Mr. F. HENDERSON Seconded. Carried..
Mr. J. C. PETER moved and Mr. J. II. Cox seconded that the election of Messrs. St. C. Michaelsen and N. A. Siebs to the directorate be confirmedį
Carried.
Mr. A. DENISON moved and Mr. MANUK secouded the election of Mr. Fulle tou Hender- son as auditor.
Carried.
The CHAIRMAN-That concludes the business of te meting aud 1 am very much obliged to you for your attendance. It is regrettable that the meeting shoul! have been fixed for mail day, but at the time the date was fixed that cir- cumstance was overlooked: Dividend warrants will be ready to-morrow on applicatio, at the office. Those shareholders outside the colony will have their warrants posted to them where their addresses are known.
Three post-boats carrying letters, packages, and specie, on their way from Shanghai to Hang chow, wero attacked in broad daylight, on the 11th instant, by a piratical craft not thirty miles this side of Hangohow. The plunder taken in this instance, the N. C. Daily News says, is re- ported to be considerably over $4,000 in money, besidse valuable packages of silks and satins valued at $,500 more.
Mr. EZEKIEL proposed and Mr. M. S. SAS- 800N seconded the election of Mr. F. Henderson
auditor.
Carried.
The CHAIRMAN-That concludes the business of the meeting. Dividend warrants will be ready to-morrow morning.
THE HONGKONG, CANTON, AND MACAO STEAMBOAT COMPANY, LIMITED.
The following is the report of the board of directors to the ordinary half-yearly meeting of shareholders, to be held at the office of the Company. on Monday next at noon.:-
The directors bez to submit to the shareholders the report and statement of accounts for the balf year ending 31st December last.
After paying running expenses, salaries, premia of insurance, repairs, and all other outgoings, there remains, includ ng $24,752.19 brought forward from last account, the sum of $113,751.38 at credit of profit and loss account. From this sum the directors recommend that a dividend for the half year of 6 per cent. on capital, or $96,000, be paid to shareholders, and that the balance of $17,751.36 be ca1ried forward to new account.
As compared with the corresponding six months of tial improvement, but the increased price of coal, stores, 1893 the gross earnings of the steamers show a substan.
etc., has caused the net result to be a' out the same
During the half year the Powan has undergone the annual Government survey and was fitted with steam ateering gear ordered from Eugland The cost and expense of fitting this ($3,215) is included in the no. ing, cleaning, and incidental repairs. counts. The Heungshan als was dooked for paint-
The depreciation of the Company's share invest- ments is also provided for in the accounts, and thes now stand in the books at market value.
The properties mortgaged to the Company have
bron re-valued by Messrs. Palmer and Turner, and the valuations show them to be good security for the
amounts advanced.
!
The directors deeply regret the death of their late colleague Mr. H. Hoppius. Mr. N A. Siebs has been nominated to fill the vacancy subj ot to confirmation at this meeting.
The retiring auditors, Messr, A. O'D. Gourdia and F. Henderson, offer themselves for re-election.
E. R. BELILIOs, Chairman,
Hongkong, 28th January, 1895.