290
H. G. BROWN & COMPANY, LIMITED.
The following is the report for presentation to shareholders at the sixth ordinary yearly meeting to be held at No. 27, Queen's Road, on the 24th October
The General Managers have to submit their report and a statement of the Company' accounts for the year 1894, and regret that these continue to show a disappointing and unfavourable result, the working account show. ing a loss of $19,429.22, whilst the amount at debit of profit and loss account, including the sum of $88,232.68. brought forward from 1893, now stands at $66,204.35.
Much of this unfavourable result has been due to the disorganized state of the Company's affairs in the Philippines, consequent on the unavoidable changes which had to be made in the Company's staff there, and to this same cause is due to a large extent the great delay which has occurred in presenting these accounts.
THE HONGKONG WEEKLY PRESS AND
WORKING ACCOUNT, † 1894. To salaries and wages.. To charges
To saw-mills working To exchange...
To Wm. Le Lacheur working. To steam launch Lotus working.. To office expenses, Hongkong To interest...
telegrams.. Trepairs to property. To bad debts. To stationery. To auditor's fee..
By profit on sales of timber, &c., in the
Philippines and with Agents.. By profit on Congo and Enrique working. By scrip fees. By balance transferred to profit and loss
accoitnt
[October 16, 1895.
$ Tungkuan in Honan, which forms the 9,655.12 the triangle formed by the borders of 12,634.23 Shensi, and Hönan. In consequence of
5,889.27 telegraphic communication from Shangha 4,067.43 Hsianfu, the capital of Shensi, has been partiall 2,438.85
interrupted by the cutting of the lines somewhe 1,595,08 between Pingan and Tungkuan. This diffien 1,500,00
is met by messages being despatched by i 884.13
couriers, who pick their way from Pingy 555.53 222.25 to Tungkuan through the disturbed dis- 161.98 triots, and it therefore takes a telegram about 66.25 thirty-six hours longer than usual to get to 100.00 its destination. The telegrams are then sent on from Tungkuan to Hsianfu or Lauchon, the $39,770.12 | capital of Kansu, as the case may be. The present rising is denied by the mandarins to have any connection with the Mahommedan rebellion in Shenkan, the former being térmed by them Tufei or "local desperadoes," but then they also ignore the fact of the Kolao Hut being at the back of the Kansu Mussulmans-N. C Daily News.
$ C 16,373.36 3,952.54 16.00
19,429.22
$39,770.12
PROFIT AND Loss ACCOUNT, 1894. To amount brought forward from last ac-
count.....
To loss on sale of Wm. Le Lacheur s/v..... To loss on sale of Santiago s/v To balance of working account brought
down
Early this year a suggestion come from the shareholders resident in Manila that it would be advisable to transfer the management to that place, and, it being fully realised here in the light of events during the past few years since Mr. Brown gave up the managment that adequate control could not be exercised from this end, this suggestion was gladly availed of as far as practicable, and a committee of manage- ment has been entrusted with the direction of the Company's affairs in the Philippines, the By balance carried forward to a new ac“. gentlemen nominated by the Manila share- Holders as members of same being Messrs. E. H. Warner, J. Sloan, and J. C. Donaldson-Sim.
These gentlemen have taken up the manage- ment very actively, and are busy reorganizing matters, and already hold out good promise of better results and a considerable curtailment in expenses. The thanks of the Company are due to them for their very valuable services.
CONSULTING COMMITTEE.
Messrs. H. L. Dalrymple and D. R. Sassoon retire in accordance with the Company's ar- ticles of association, and do not offer themselves for re-election.
AUDITOR.
The accounts have been audited by Mr. Fullarton Henderson, who offers himself for re-election.
count ...
CORRESPONDENCE
$66,204.35
$ c. 66,204.35
$66,204.35
THE POSITION OF LI HUNG-CHANG.
$ C.
Opinions differ in regard to the position, ins 38,232.68
fluence, and power of the ex-Viceroy Li. Un 6,963.21 1,579.24 doubtedly a large party both in and out of Peking is determined on his downfall, come what 19,429.22 may. They appear to have had considerable success in their planning, yet their success is by no means secured. H.E. has had many reverses, yet like the animal with "nine lives" he has always "lit on his feet" and come to the top. With all his mistakes and faults and sins, when the emergency has arisen, somehow he has been the only man upon whom the Emperor could rely: So said an intelligent Chinaman in con- versation with me a few days ago; and so it will be again, he said, for in the present com. plications and difficulties, he continued, no one understands the situation as well as Li, or has the real welfare of the nation as much st heart as he, or has the cool, penetrating judgment that he has. I am convinced that many who do not like Li, and long for some one in whom they have greater confidence to be in his place, feel this way, viz., that he is the best man available at present. His influence is not likely to be so manifest now that he is removed to Peking as formerly, but if the above opinions are correct, it may be even more powerful and effective by promoting more correct views in the capital. We will hope that this may be the case, for there is infinite opportunity for improvement.-N. C. Daily News Tientsin correspondent.
[We do not hold ourselves responsible for the opinions expressed by our Correspondents.]
AUSTRALIAN AND CHINA PONIES.
"
TO THE EDITOR OF THE DAILY PRESS. Dear Sir, I notice in your issue of this morning that you mention the match between an Australian pony mare and Voltigeur which is to be run off this afternoon. You say this race should be of interest in view of the recent con- GIBB, LIVINGSTON & Co., troversy as to the desirability of our having
General Managers.
Australian ponies for the annual meeting instead of the usual China griffins. Since you Hongkong, 5th October, 1895.
have given publicity to the above statement you STATEMENT OF ACCOUNTS TO DECEMBER 31ST, 1894. | should also mention that the mare has had
$
cpractically no preparation at all for the race (i.e. about twelve days' work) after a long sea voyage, whilst her opponent has been well and carefully trained. Therefore no conclusion what- ever can be drawn from the result of this after noon's match, which is simply a friendly trial between two sportsmen and is no criterion of the respective merits of Australian and China ponies."
Yours faithfully.
LIABILITIES.
Capital:-
6,000 shares of $50 each fully paid up 300,000.00 Bills payable
3,000.00 429.76 2,435.92
Sundry creditors.
Provision for bad debts
Goodwill:-
ASSETS
Amount paid 11. G. Brown & Co. as
$305,865.68
C.
Just arount
41,400.00
PR
Saw-mill - gresting machinery, &£.
48,759.10
Schooner Alings
15,068.22
Bri che right
12,150.00
Towe the honger.
11,550.44
Steam launch Lotus
Furniture...
Banahiar cutting.
Mulonay cutting
Boats, implements, stores, &c...
Stocks of ümber in Hongkong, Shang- hai, and the Philippine Islands...... Stock of timber at the saw-mills
Sundry debtors.....
Varadera shares
Cash in hand
Deposit of duties:—
covered
Suspense account.
Aniount of duties deposited to be re-
Insurance value of unexpired portion of
policies
Ship in course of construction (since
completed)
Hongkong and Shanghai Bank, cash with Balance of profit and loss account ....................
Hongkong, 10th October, 1895.
X. Y. Z.
THE MAHOMMEDAN REBELLION.
+
A FOREIGN ALLIANCE FOR JAPAN.
Home politics are either quiescent or barred. So to fill up their columns our Japanese con temporaries resort to the discussion of a foreign alliance. This is an ever-fruitful theme and very quaint-we will not call them exaggerated -are some of the comments. Europeans judging of Japanese intelligence by these articles would form a very false estimate of the mental qualifications of the more thought- ful politicians. In point of fact the argu- ments of the Japanese journalists on' this subject are wholly misleading as a standard whereby to measure the intellectual attainments Shanghai, 10th October. of the writers. They start on a false assump It is feared that there is some trouble at tion. Take, for inst
till Take, for instaptured. Latest utterances 8,602.95
Hsianfu in Shensi, as telegraphic communica- 4,537.82
en ally when it debates nal is perfectly sane;
Pi 9,528.12 tion cannot be carried on between that city and
390.64 Shanghai, a message sent a week ago remaining the propriety of a fora alliance that doubts of its mental equilibrium gather substance. 3,090.10 unanswered. It is not known whether there is
It immediately takes for granted, as all trouble in Hsianfu, it may be that the Ma- 38,636.50 hommedans and Chinese in the city have quar.other Japanese papers do, that Russia and
4,804.75 relled and declared war against each other, 29,032.18 or that the Mahommedan rebels in Kansu 5,250.00 have advanced against the city and so cut off communication with the outside world. News received last night is as follows:-
822.87
A strong band of mounted banditti, said to 1,583.75
number nearly 10,000 horse, led by one Li Tahu, 472.50
.e., "Li, the Great Tiger," a former Taiping or Nienfei rebel chief who has been in 504.02
hiding ever since the sixties in Chinese 1,821.88 Turkestan, have suddenly appeared in the the central 1,655.49 neighbourhood of Pingan in 66,204.35 portion of Shensi province, and have recently been carrying their depredations as far as the $305,865.68 | gates of the famous hill fortress barrier of
England are both anxiously courting a Japa nese alliance and that whoever Japan de to honour will receive her cides
Nothing could be further from the acclaim. truth. Great Empires like England and Russis are very chary in their choice of friends and very rarely enter into alliances. It is open to question at this moment whether between France and Russia anything more than a friendly un- derstanding exists. The French press clutch at all kinds of straws to convince the world that the alliance has any existence outside the heated ima ginations of Parisian journalists, and, as lately as September 20th, hailed the fact that Prince Lobanoff was to witness the French review.
Page 10Page 11