February 14, 1895, |
By Hongkong and Shanghai Banking Cor-
poration
By property account
By sundry debtors' account
31ST DECEMBER, 1894.
$
C.
260,000.00 2,914.26
$262,294.32
C.
PROFIT AND LOSS ACCOUNT, FOR THE YEAR ENDED
$ 3,589,98 9,031.04
To Grown rent and taxes
To interest account
To balance:—
Consulting Committee Anditor's feo
Net profit
By balance from 1893 By balance of working account.
.........
$ 600.00 100.00
7,288.82
$20.609.84
762.54
CHINA OVERLAND TRADE REPORT.
+
121
vate meeting held on December 1st last we pro- purchased for a special object, and that for that 6,380.06 posed to you a scheme of reconstruction, to which object it may be worth the money to us, although you gave your consent. Since then the pro- it might not sall for that amount if put upon the spectus of the new Company has been issued and market. The report at the bottom shows a balance circulated and subscriptions for shares have been
of $2,691.46, which it is desired should be carried solicited, but to my great regret I have to inform over. It may be thought by some that it would you that the proposed scheme has not met with be better to write it off. but the majority of sufficient support. We have therefore been com- the Directors thought it was desirable to carry it pelled to abandon the same. As mentioned to forward, and therefore it goes forward. Whether you at the private meeting your General Man- it means that we have $2,691.46 beyond our capital agers are not prepared to provide further capital of $100,000 might be a matter of opinion. In for the carrying on of the Company on the mine I do not consider that we have that surplus. old basis. They have therefore decided to I think it is right to draw your attention to the 7,998.82 resign, and Messrs. Shewan & Co. have fact of the property, because it is a particular
offered to pay off the Company's indebtedness to considerable-item in the accounts, and we take it them and to find the funds for continuing at what it stands in our books. I said just now the business. We have, with the consent of that we had not made a great success. I think, 19,847.30 the Directors, called this meeting in order on the other hand, it might be said that we have to pass the pecessary resolutions for the trans- made a great success in one respect. When I $20,609,84 fer of the management to Messrs. Shewan & Co. came here 36 years ago there was no milk to
At the extraordinary general meetings of the be had.
Wo were as badly off then in Company held on the 12th April, 1892, and 5th Hongkong as they appear to be at present May, 1892, some special resolutions were passed in India, according to a very interesting ex concerning the reconstruction of the Company. tract which was produced last This reconstruction had subsequently to be The Times of India in the Daily Press, recount- week from abandoned and the resolutions have now to being the experience of the erstwhile Bazaar annulled. I therefore propose, That the Master, who has now been superseded, and who, special resolutions of this Company passed aud on arriving at his office, "found on his table confirmed at extraordinary general meetings of beside the writing materials a small jug of this Company held respectively on the 12th day milk accompanied by a letter from the wife of April, 1892, and the 5th day of May, 1892, bə of the Officer Commanding the frregulars, and the same are hereby annulled," and shall be calling his attention very pleased if any of the gentlemen will second called milk,' as she satirically puts it, which to the jug of so-
she had sent up for him to look at and taste, and concerning which she must beg him o answer the following questions at his very earliest convenience (very much naderlined): Is it really milk? Is it more than half water? Is it not dreadfully adulterated and calculated to make her dear children ill? Is it not a cruel and a wicked shame (more italics) that such a poi sonous mixture should be sold in any properly. looked after bazaar? Will Major Stout have the goodness to fine the milkman at least ten rupees at once ?" When I was in India it was the same thing then, and so it has continued up to now. When I was in Hongkong first it was the same thing then. It is not the same thing now. We have beautiful milk. We have good milk as we have good water Both are of first quali Eand can be drunk with safety and given to one's chiu with thankfulness and gratitude; and I think now, even if we have not accomplished a great commercial success, we may flatter ourselves that we have been permitted to accomplish a great social success. I hope we shall have patience to enable us to work out this Company's history to a successful issue. With the qualifying remarks I have made I beg to propose the acceptance and adoption of the accounts and the report as presented to you. Captain BURNIE-I second the motion. Carried.
this resolution.
Mr. W. H. RAY seconded. Carried.
The CHAIRMAN-I now beg to propose that Messrs. Shewan & Co. be appointed General Managers of the Company, such appointment to date from the 28th February, 1895.
Mr. RUSTOMJEE-As one of the shareholders Co. are going to charge as commission. I should like to know what Messrs. Shewan & The CHAIRMAN-I am not in a position to tell. I do not know.
HONGKONG ICE CO., LIMITED. The fourteenth ordinary annual meeting of the shareholders of the Hongkong Ice Co., Limited. was held at the offices of the Company. Pedder's Street, at noon on Saturday. The Hon. J. J. Keswick presided, and there were also present Messrs. E. F. Alford, K. McK. Ross. W. A Cruikshank, W. Parfitt, F. N. Firth, R. T. Wright, D. Landale, G. '. Veitch, Ryle olme, W. Parlans (Manager), Ho Tung, and Ho Fook. The CHAIRMAN sid-Gentlemen, there is, as usual, little for me to remark on the satisfactory report and accounts now in your hands, but I am sure shareholders must be gratified to see the steady earpings and dividends of the Com. pany. You will be interested, I have no doubt, to know that the demand, although varying very mnch from time to time, shows an aggregato increase, notwithstanding the fact that many of the larger steamers have been fitted with cooling chambers and ice-making plant, which will de. prive the Company of their custom. The total sales for 1894 word in excess of those of the pre rious year. The Company's machinery and pre-known to the shareholders. mises are in first rate order, and the exten- sion of the works by the addition of four new chambers at a cost of $13,080 was completed last March and proves very serviceable. The Com- pany is thereby enabled to carry more ice in stock and also to do increased work other additions to the machinery have to be made in the course of the present year to make the establishment equal to all emergencies. The Manager. Mr. Parline, bas returned to his post aftera well earned holiday, and during his absence his place was efficiently filled by Mr. McMurray.be held on the 28th of this mouth, on which date
ho was temporarily engaged. I have no fur- ther remarks to make upon this very interesting and satisfactory report, but I shall be glad to answer any question that any shareholder may wish to put to me before I propose its adoption.
No questions were asked.
Condu
The CHAIRMAN-I propose that the reports and accounts as pres uted be adopted and passed. Mr. R. T. WRIGHT —I have much pleasure in seconding that.
Carried.
Mr. RUSTOMJEE-I think it should be made
Mr. SHEWAN Loons say?
will not charge more thanc e waevioeneral Man:
agers.
In answer to Mr. RUSTOMJEE the CHAIR Nid the commission had hitherto been 5
per cent.
Mr. MURRAY BAIN-I have much pleasure in seconding the resolution that Messrs. Shewan & Co. be appointed General Managers.
Carried unanimously.
The CHAIRMAN-A confirmatory meeting will
the accounts of the Company will also be pre- sented to you. That is all the business. thank you very much for your attendance,
THE DAIRY FARM COMPANY LIMITED.
I
The eighth ordinary meeting of the sbare- holders of the Dairy Farm Co., Limited, was held on Monday, at noon. at Telegraph House, Queen's Road. Mr. Granville Sharp presided, and there were also present Messrs. E. Burnie, J. W. Noble, Douglas Jones, JM. E Machado,
The CHAIRMAN-The ouly other business, gentlemen, is the election of auditor for the com- ing year. During the absence of Mr. Arnold Mr. Ross was asked to audit the accounts and as Mr. Arnold is expected to return shortly I haveDirectors), W. H. Potts (Secretary), J. Walker,
to propose his re-election.
Mr. FIRTH-I have much pleasure in second- ing.
Carried.
(Manager), C. M. Adamson, G. C. Cox, W. H. Ray, G. H. Potts, aud 11. S. Bird.
I
The CHAIRMAN said-Well, gentlemen, we have during the past twelve months done our best. We have not achieved any very great success. but we do not think that is our fault think it is only right to draw your attention to the fact that we have worked for nothing. We have been doing that now for nine years past, and I think we ought not to pledge GREEN ISLAND CEMENT COMPANY, ourselves in any way for the future; but we
The CHAIRMAN-That concludes the business of the meeting. I an very much obliged to you for your attendance. The dividend warrants will be issued on Monday morning.
LIMITED.
really are entitled to something if we work and do our best. The report has bben in your hands for some days, and if you will allow us we will take it as being read. There is not much to re- mark upon it. I last year drew your attention to the fact that our property stood then at the saine figure as it stood during the previous year. I now desire to draw your attention to the same fact. We have not re valued our property. It stands in our books at
which we have paid for it. Some of you may think that it is not worth the money; others think that it is worth more than the money. At any The CHAIRMAN said-Gentlemen, at the pri-rate it is said, very fairly, that the property was
An extraordinary general meeting of the shareholders in the Green Island Cement Co.. Limited, was held on the 8th inst., at the offices of the General Managers, Messrs. Arnhold, Karberg | and Co. There were present Messrs. J. Kramer (Chairman), J. Orange, C. Ewens, Poon Pong (Directors), L. Suidter (Secretary). W. H. Ray, G. Murray Bain, R. Shewan, Wong Shing, E. Terry, W. Bamsey, E. Goetz, and R Rustomjee. The SECRETARY read the notice calling the meoting.
that
|
Mr. DOUGLAS JONES-I hope that you will not consider, as I anticipate perhaps the speech of the Chairman would lead you to imagine, that the rest of the Board have in their mind and think for a moment that the Dairy Farm is a philanthropic and charitable institution; I can say for one that that is not my view at all. I have got a considerable amount of capital in it, and I propose not only to make it a social success but a financial success, and I hope that within a very short time, or within a reasonable time, it will become a financial success.
Mr. MACHADO-I beg to propose the election of Mr. Houglas Jones and Dr. Noble as Directors. Mr. RAY-I have very much pleasure in seconding.
Carried.
Mr. DOUGLAS JONES-I propose that Mr. Granville Sharp and Mr. Machado be re-elected Directors.
Mr. Cox-I have very much pleasure in secouding.
Carried.
The CHAIRMAN-The election of auditor is the next business. Mr. Lyall was invalided and obliged to go down to the Straits for a short change. The accounts have been audited in the meantime by Mr. Henderson, and if you wish Mr. Lyall to be to be re-elected, will some. body propose him?
Mr. BIRD-I propose that Mr. Lyall be re- elected auditor.
Mr. G. H. Ports-I second. Carried.
The CHAIRMAN-I wish I could say that the dividend warrants would be postel to-morrow,