102
!
The
as shortly after the occurrence a subscription was started and when Hong- koug was reached the sum of £15 had been handed to the purser, Mr. Lawrence, for the benefit of Mrs. Foster and her children. It is estimated that the terrible oc- currence entailed a loss of about £150 to the P. & O. Company, as the first emergency boat was smashed against the ship's side and had to be cut astern and sunk, and the whole of the deck buoys and the port grating were left floating on the water.
HONGKONG AND SHANGHAI BANK- ING CORPORATION.
THE HONGKONG WEEKLY PRESS AND
in the water. Immediately everybody took up laziness in the early part of the morning the cry and the whole of the passengers rushed second officer was noted for his bravery. He aft. The second officer, Mr. A. J. Cooper, was had saved four lives altogether and had been talking to a friend at the time, and without awarded the Albert gold modal and the Stanhope even slipping off his frock coat he heroically and bronze medals by the Royal Humane plunged into the water. The engines were Society. Ho diol wearing his honours. A at once stopped by the captain and then re-pathetic part of his death is that only about versed. The chief officer was instantly at two months ago he left his mother at Colombo in his post supervising the lowering of the boat, order to join his ship at Bombay, and she pro- and almost simultaneously with the plunge of ceeded to Shanghai where she was awaiting his the second officer the signal life buoy and the arrival by the Kaisar-i-Hind. He was a single "Holiaes's light" were thrown into the sea. But man, but the dead quartermaster was married, anfortunately there was too much confusion. and his widow and five childron reside in London. Every man on board was willing to lend a
The passengers, fifty in all, were not slow in dis- helping hand, but in many instances the willing-playing a genuine sympathy for the bereaved fa- ness unwittingly resulted in over auxiety for the mily safety of the second officer, than whom no one on the ship was more esteemed. In consequence of the rush of the passengers, stewards, and Lascars too many people congregated where only few were wanted and the chief officer was quite unable to make his. voice heard over the hubbub that ensued. This too hasty desire a natural one, no doubt-to give aid ended ir a very serious blunder. A few seconds after the cry was raised an emergency boat manued by the fourth officer, Mr. E. J. MoBarnett, and five A. B.'s named J. Foster, C. W. Adams, G. Bungay, D. Sullivan, and A. Edwards, was lowered on the port or weather side. There was, however, too much excitement on board, and as the boat touched the water someone too hastily unhooked the forward tackle and the aft tackle was allowed to remain fast. A cross sea was running at the time and an alarm. ing accident was inevitable. The forward part dipped into the water and the waves leapt into the boat, which almost immediately swapped. Edwards managed to cling hold of a rope and climb up the side of the ship, but all the other mou were hurled into the water and three of them were actually under the boat. The fourth officer quickly regained the deck by pulling himself up with a rope and without any hesitation he ran across to the starboard side and entered the He was followed by the second emergency boat. Afth officer, Mr. D. J. Beaumont. two A. B.'s and two Lascars, one of whom was the father of the suicide. This boat was quickly safely lowered and the crew succeeded in picking up Adams and Bungay. Sullivan and Edwards man- aged to climb up life lines, but Foster was no- where to be seen and there is no doubt that the poor fellow was struck on the head by the boat and drowned. The emergency boat then pro- ceeded towards the spot where the second officer and the Lascar were in the water. All eyes eagerly scanned the sea for traces of the missing men and the progress of the small bat was closely watched. It was some time, though, be- fore the ship lost Way and when at length she steamed astern even the small boat could not be seen except with the aid of glasses. Eventually the Kaisar-i-Hind got back close to the signal life buoy and anxiety for the safety of the officer was depicted on the face of everyone. The crew in the small boat searched for nearly an hour and then had to return with the worst
news.
8
Both the men had been lost. The boat was hauled up again and the steamer continued its journey. It was a sad sight to see the caps, life buoys, and gratings floating on the waves as the steamer left the fatal spot, and to show that everything that was possible was done to save the men it might be stated that about a dozen life buoys and the whole of the steering gear gratings on the port side were thrown over. board. It is not quite certain how the second officer met his death. One version is that he was pulled down by the Lascar, another is that he had to throw the Lascar off and after reach- ing the signal life buoy fell a prey to shark, and a third version is that he did not reach the Lascar at all, but suddenly disappeared from view when only a few yards from the buoy. He was a very powerful swimmer and the theory that he was taken by a shark is looked upon as the most likely one. It is of course to be deeply deplored that the first emergency boat was not properly lowered, as if it had been it is more than probable that at any rate only the Lascar would have been drowned. The tragic event formed the sole subject of talk for the rest of the day. Everybody re- gretted deeply that two Englishmen had lost their lives through the suicide of the mad headed Lascar, who was only eighteen years of
and who took his age,
life own simply because his father had chastised him for
The following is the fifty-ninth 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, at noon
To the Proprietors of the Hongkong and Shangbai Banking Corporation.
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, 1801.
The net profits for that period, including $126,400.04, balance trought forward from last account, after paying ali charges, deducting interest paid and due, and making provision for bad and doubtful accounts, amount to $1,803,077,66
The Directors recommend the transfer of $500,000 from the profit and less account to credit of the reserve fund, which fund will then stand at $5,000,000,
They also recommend writing off Bank premises ac count the sum of $190,200 and off dead stock account the sum of $61,312.05.
After making these transfers and deducting remunera. tion t Dire tors there remains for appropriation $1,129,605.61, out of which the Directors rec anmend a dividend of one pound and five shillings per share, which will absorb $111,444.41.
E
The difference in exchange between 16, the rate at which the dividend is declared, and 2s,, the rate of the day, amounts to $555,535.50.
The balance $129,665.61 to be carried to new profit and
loss account.j
DIRECTORS.
Mr. J. S. Moses has been appointed Chairman for the year 1895 and Mr. Julius Krainer Deputy Chairman.
The Directors regret to have to record the death of their colleague, Mr. Heinrich Hoppius, last December. He had been for nearly twenty-five years & Director of the Bank and had always taken a great interest in its welfare. Mr. N. A. Siebs has filled the vacancy thus created and his appointment requires confirmation at this meeting.
The Honourable J. J. Keswick, Honourable A. Me- Conachie, and Mr. H. H. Joseph retire in rotation and being eigible for re-election the two former offer themselves accordingly. Mr. H. H. Joseph does not offer himself for re-election as he is about to leave the colony.
Cash
ASSETS.
Bullion in band and in transit Investments, viz.
£250,000, 2 per cent. Consols lodged with the Bank of England as a special London
reserve
£547,300, Consols and other storling securi- ties..
[February 6, 1805.
.$1,900,000.00
5,473,000.00
Bills discounted, loans, and credits
Bills receivable Bank promises Dead stock
3 O 36,874,915.26 5,893,406.31
7,373,000.00 44,221,630.44
57,530,235.86
164,312.05
1,103,887.35
$153,166,387.27
PROFIT AND Loss Account, 31ST DECEMBER, 1891. To amounts written off :-
Dr.
Remuneration to directors... To dividend account:-
21 53. per share on 80,000 shares-
£160,000 at 4s. Gd...
To dividend adjustment account:
Difference in exchange between 4s. 6d. the rate at which the dividend is de- olared, and 2s. Od., the rate of the day To transfor to roserve fund To transfer to Bank premises To transfer to dead stock account To balance carried forward to next half-
year
Cr.
By balance of undivided pro-
fits, 30th June, 1891
By amount of net profits for
the six months ending 31st December, 1891, after mak- ing provision for bad and doubt.ul debts, deducting all expenses and interest paid and duo
C.
126,450.04
1,677,517.62
$
10,000.00
444,441.44
555,555.56
500,000.00
100,000.00
64,312.05
129,665.61
$1,803,977.6
RESERVE FUND.
To balanco
1,803,977.66
$1,803,977,66
$ d. 5,000,000,00
$5,000,000.00
.$1,500,000,00 500,000.00
$5,000,000.00
By balance, 30th Juno, 1891 By transfer from profit and loss account.
HONGKONG, CANTON AND MACAO
STEAMBOAT CO., LIMITED.
The ordinary half-yearly meeting of the shareholders of this Company was held at the offices of the Company, Bank Buildings, on Mon- day. There were present Hou. E. R. Belilios (Chairman), Hon. J. J. Keswick, Messrs. N. A. Siebs. J. Kramer, F. A. Gomos, Poon Pong (Directors), C. Tomlin (Acting Secretary); A. Tillett, Geo. Fen sick, E. J. Moses, NJ. Gomes, A. T. G. da Silva, Wong Ping Lum, Woo Hou, A. G. B. Soares, and J. R. Michael.
The SECRETARY read the notice calling the meeting.
The CHAIRMAN said-Gentlemen, the report and accounts having been for some days in the hands of the shareholders, I propose, with your
Before re permission, to take them as read. ferring to them, I wish to correct a wrong in. pression I unconsciously conveyed to you at the The accounts have been audited by Mr. F. Hender-last half-yearly meeting. When replying to a son, Mr. A. G. Wood, and Mr. S. G. Bird, who offer question I said that the opening of the West themselves for re-election.
AUDITORS.
C. J. HOLLIDAY, Chairman, Hongkong, 1st February, 1895.
ABSTRACT OF ASSETS AND LIABILITIES,
DECEMBER, 1894.
31ST
LIABILITIES.
Paid-up capital Reserve fund
Marine insurance account Notes in circulation.. Deposits :-
Silver Sterling, £3,064,611 95.
2d:-
.$73,654,839.43
30,646 414.58 Bills payable (including drafts on Lon. don Bankers and short sight drawings on London office against bills receiv ablo and bullion shipments) Profit and loss account
River was provided for by treaty, but I have since ascertained that this is unfortunately not the fact. I am glad to say, however, that the opening of this great inland waterway to foreigu trade is being vigorously advocated by the local Chamber of Commerce, and I trust the time is 5. 0.
not far distant when their efforts to secure 10,000,000.00
be crowned this right will
with success. 4,500,000.00,
250,000.00 Turning to matters immediately before us, the 9,976,836.29 remarks I made on the Company's working at the last meeting apply, in many respects, to that of the past six months. Oursteamers have been earn- ing on an average $2,000 more per mouth than they did during the corresponding half of 1893, but the increase has been absorbed by larger outlay on coal, stores, and insuranc, and I think, therefore, that the working of the fleet shows better results than that of the same period of 1893. Other influences have affected the river $153,166,397.27 trade rather adversely. In July, August, and, in a less degree, September, trade suffered from
104,300,751.01
22,334,819.31 1,803,977.66
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