970
AUDITORS.
The accounts have been audited by Messrs, Fullarton Henderson and A. Coxon, whose re- election is recommended.
Jardine, MATHESON & GO., General Agents, Canton Insurance Office, Limited Hongkong, 2nd October, 1895.
ני
་་
STATEMENT OF ACCOUNT FOR THE YEAR ENDING 31ST DECEMBER, 1894.
$
Capital subscribed
LIABILITIES.
Amount paid-up ·····
Reserve fund
Outstanding dividends.
Outstanding bonus
$2,500,000.00
Balance of 1894 working-
C.*
account
542,455,65
Less dividend of 10
per cent.
bonus of 20 per cent. to
contributors of premia... 263,693.97
paid to shareholders and
ASSETS.
Cash, on ourrent account, Hongkong and Shanghai Banking Corporation
Fixed deposits
Hongkong and Shanghai Banking
Corporation
Chartered Bank of India, Australia,
and China.
Mercantile Bank of India, Limited. Mortgages
Hongkong and Kowloon Wharf and Godown Co., Limited, debentures. Indian Government stock (3) per cent.
loan, 1865)
Indian Government stock, (34 per cent.
loan, 1842-43)
Chinese Imperial Govt. loan, 1886 Interest accrued but not yet payable
WORKING ACCOUNT, 1894. To amount brought forward from last
account .....
To net premia received, less returns
and re-insurances
To interest
To exchange
To transfer fees..
By losses and claims paid
..........
By charges, including directors', audi- tors, and survey fees, agents, ex- penses, &c..
By commissions
By balance as abov
C.
500,000.00
278,761.68
$1,808,607.37
$ c. 19,371,79
THE HONGKONG WEEKLY PRESS AND
HONGKONG HOTEL COMPANY, LIMITED..
¡
The half yearly meeting of the shareholders in the Hongkong Hotel Company, Limited, was held on Friday at noon at the hotel. Mr. E. Osborne presided, and there were also present Messrs. W. Parfitt, R. C. Wilcox (Directors), W. H. Potts, T. Wright, J. C. Peter, F. N. Firth, Ip Chee Fong, Ho Yan Man, Tam Yat Lam, Leung Tit Shan, Ho Fook, and A. Fonseca (Secretary).
up'
*
[October 10, 1895.
Mr. FIRTH proposed the re-election of the retiring directors, Mr. Osborne and Mr. Wilcox.
Mr. WRIGHT seconded. Carried.
Mr. PARFITT proposed and Mr. WILCOX seconded the re-election of Messrs. W. H. Potts and W. H. Gaskell as auditors.
Carried.
gentlemen. I thank you for your attendance.
The CHAIRMAN-That is all the business,
HONGKONG GOLF CLUB,
BEST SCORE CUP.
This competition, which has been in progress for the past six months, has now come to a ter mination and a fresh series was entered upon on October 1st. The entries numbered in all 89, which is a slight falling off from the last competition, but this is no doubt accounted for by the fact that more golf is played in the winter months.
The result shows a tie for first prize between Captain W. V. Eccles, Rifle Brigade, and Mr. John Hastings, with a net score of 81, Mr. C. H. Grace being third with 83, although, it should be mentioned that Mr. J. Hasting's also put in a score of 83, which of course is eclipsed by his better return of 81.
The net scores of under 90 which were re-
whi
turned are as follows :----
Captain W, V. Eccles, R.B... Mr. John Hastings Mr. C. H. Grace Mr. H. L. Dalrymple Mr. Clement Palmer Mr. W. A. Duff Captain J. M. Stewart, R.B. 101 Commodore Boyes, R.N. 102 14 88
89 8 81
95
14 81
98
15.83
94 10 84
96
1185
100
15 85: 1487
.
The interest in the quarterly meeting which finished on Monday evening was considerably enhanced by the addition of a Bowl, presented to the Club for competition amongst members, by the golfing Officers of the Rifle Brigade, the conditions being the same as the "Bruce Cup at the two last quarterly meetings. There were a good number of entries and more returns than usual. The results of the various competitions will be seen below.
99
The CHAIRMAN said-Gentlemen, with your 1,025,000.00 permission we will take the report and accounts 2,703.00 as read. The profits for the period under 2,142.69 | review are much the same as those for the cor- responding half of 1894. The working expenses of the Hotel have been debited with $1,050 for the passage money to England of our former manager and his wife (Mr. and Mrs. Tucker), which under their agreement they were entitled to; and the profit and loss account has been debited with a further sum of $1,301 for arrears" of his commission and for the salary due to him to the expiration of his agreement, which in the ordinary course of events would have run on till 1st May of this year. These two items, amounting to $2,351, may be re- garded as quite exceptional. You will notice an item of $5,047.43 specially referred to in the 275,000.00 report as representing bad and doubtful debts prior to 1895. I may explain that they attach 150,000.00 principally to 1892, and are owing by persons 75,000.00 some of whom are dead and their estates worth- 990,897.26 less, by others who have left the colony, and by a great many more whose names are unknown 40,000.00
to us--the explanation of this being that strangers were permitted to avail of the chit 113,162.44
system then in force and such efforts as were made to recover the debts were in too 43,767.11 69,480.09 many cases not successful. These old debts 31,928.68 have since had the personal attention of your directors and the Company's solicitors, $1,808,607.37 and a percentage may yet be collected, but a very large proportion is irrecoverable and will $el
have to be written off. I am happy to say that since the cash system was introduced, about two 25,049.56 years ago, our bad debts have been trivial and under the present regime they are practically 1,446,524.39 | nil, and will I think continue to be so. On the 117,915.41 subject of management I desire to say that both 431.40 Mr. Tucker and Mr. Richardson asked permis-
71.00
sion to resign and the Board decided it would The tie for the Best Score Cup was played be to the interest of the Hotel that their resig-off and resulted in a win for Captain W. V. nations should be accepted. The management | Eccles. at present is conducted by Mr. Fonseca, under the personal guidance of the Directors, and, judging by the results of three months' working under this system, the change is, I venture to The cash receipts at the bars 79,094.04 say, a success.
have increased; the number of monthly boarders 124,692.76 542,455.65 is steadily augmenting; and on all sides we have gratifying testimony as to the improved clean- liness and comfort of the Hotel. The victualling arrangements we are conducting ourselves under our new Chinese manager, Mr. She Po Sham, instead of contracting as formerly, and the ex- c.cellence of our menus is testified to by the in- 1,130,550.00 creased dining-room receipts. And notwithstand- 88,000.00 ing the greatly improved quality of food, the cost
500.00
is less than under the old unsatisfactory contract 52.00
system. But whilst we hope and believe that our efforts to place this magnificent but hitherto unfortunate Hotel upon a paying basis will eventually succeed, we wish to say that before $
this desired end can be attained a considerable 401,750.00
sum will have to be spent on renewal of cutlery, 54,000.00
linen, etc., most of our present stock being 87,000.00 676,552.00 | shabby and unsuitable, and the furniture, which now stands in our books at $84,000, will have $1,219,102.00 to be written down largely. The new building is in very good order and will need but little expenditure upon it for some time to come, but the old building will require many repairs from time to time. You will observe with satisfaction that that very promising asset the Praya Reclamation now stands in the Company's books at $12,543.17, which, it is needless to say, is below its real value. Before proposing the adoption of the report and accounts, if any gentleman has any question to ask, I shall be happy to reply.
$1,589,991.76
$ 843,749.31
$1,589,991.76
ESTIMATE OF WORKING ACCOUNT TO THE 30TH SEPTEMBER, 1895. Dr.
To prenria, less re-insurances To interest received and accrued
To exchange
To transfer fees..
........
Cr.
•
By losses paid and outstanding
By charges paid and accrued
By commissions paid and accrued By balance
$1,219,102.00
C.
The Tokyo police have, it is stated, discovered plot to assassinate Marquis Ito, the Premier. Two soshi have been arrested at a boarding house in connection with the affair, and the police are adopting strict measures to secure the protection and safety of the Marquis. There is a suspicion, however, that the scare is but the artifice of the informer and the soshi who are in league with him, the object being to get the reward which is usually given by the police authorities for secret information of an important character.
There were no questions, and the CHAIRMAN proposed the adoption of the report and accounts.
Mr. PETER Seconded. Carried.
The greens are in excellent order and the only thing against low scoring is the nicety of steering necessary to get between or over the various cricket and football matches. MCEWEN CUP AND FIRST ROUND OF B. B. BOWL. Captain W. V. Eccles, R.B... Mr. V. A. Cæsar Hawkins... Mr. G. Stewart Mr. E. A. Ram Mr. H. L. Dalrymple Mr. C. H. Grace
Mr. E. W. Maitland Sir F. Clarke Mr. C. Palmer Dr. J. Bell Commodore Boyes, R.N.. Mr. W. A. Duff Mr. J. Hastings
87 3 84*
97 13 84*
91 6 85
99 13 86 97 10
87
104 15 89 108 18 90 111.18 93 106 11
95 113 18 95
110 14 96
113 16 97. 113 14 99
* Result a tie for McEwen Cup.
SWEEPSTAKES.
Mr. G. Stewart Captain W. V. Eccles, R.B.. Mr. E. A. Ram.. Mr. C. H. Grace
Mr. E. W. Maitland, Mr. J. Hastings Mr. W. A. Duff
POOL.
89
87
853
6.83 3 84 99 13 86
104 15 89
97
108 18 900 105 14 113 16 97
89 6·83
87 3 84 106 16 90
106 11
Mr. G. Stewart .... Captain W. V. Eccles, R.B... Mr. W. A. Duff Mr. C. Palmer Mr. C. H. Grace
113 1 RESULT OF THE TIE FOR BEST SCORE CUP.
Captain W. V. Eccles Mr. J. Hastings......
98
873 84R 105 14 91
The result of the Bogie Competition during the quarterly meeting is as below. Mr. Spriggs
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