}
138
Admiral Tanaka, Prefect, Dr. Okubo, Ph.D., Councillor, Mr. Kasima Mura, formerly Mili. tary Attache in the Japanese legation at Berlin, Captain Miyazaki, Adjutant of the Governor, were the Japanese present, while all the foreign community, including the English Consul, Mr. Ayrton, from Hobe, were on hand. However, as the whole north of Formosa is limited to twelve foreigners the Japanese guests were scarcely outnumbered. The barren club building was, by draping with flags and the profuse use of flowers, converted into a very attractive banquet ing ball. At 7.30 in the evening all were seated. The usual toasts proposed on such ocasions and the magnificent dinner finished, the guests re- moved to the library, where after congenial ex. change of pleasantries for an hour or so the guests departed. Thus was concluded the memorable day, and the evening, while most enjoyable to all, has a more important signi- ficance; the ultimate influence of such gather- ings will be to increase the goodwill, the con. dial understandings of the little foreign com- munity with the new masters of Formosa.
JAS. W. DAVIDSON.
WANCHAL WAREHOUSE AND STORAGE COMPANY,
LIMITED.
The ordinary general meeting of shareholders in the Wanchai Warehouse and Storage Com-1 pany. Limited, was held on the afternoon of the 10th Feb. at the offices of the General Managers. Messrs. Meyer and Co., 5, Queen's Road Central. Mr. F. H. Garrels presided, and there were also present Messrs. P. Sachse and H. Stolterfot (Directors). W. Rudeloff (Secretary), C. Pal- mer, F. Henderson. (. Schwencke, F.
Schroeter. H. Ehmer, Kleinschmidt, and C. Heerman.
The SECRETARY read the nofire calling the meeting.
you
i
THE HONGKONG WEEKLY PRESS AND
The CHAIRMAN moved the re-election of Messrs. P. Sachse and H. Stolterfoht on the Consulting Committee.
Mr. EHMER seconded. Carried.
Mr. RUDELOFF proposed and Mr. HEER- MANN seconded the re-election of Mr. Fullerton Henderson as auditor.
Carried.
The CHAIRMAN-That is all the business, gentlemen, and I thank you for your attendance. Dividend warrants will be sent out to-morrow.
HONGKONG ICE COMPANY, LIMITED.
The fifteenth ordinary annual meeting of shareholders in the above Company was held at noon, on the 5th Feb., at the offices of the General Managers, Messrs. Jardine, Matheson, and Co. Hon. J. J. Bell Irving presided, and amongst | those present were- -Messrs. J. H. Cox, J. H. | Lewis. W. Parfitt, V. H. Deacon, F. O. Sted- man, E. C. Ellis. V. A. C. Hawkins, K. MacK. Ross, R. Inglis, R. H. Burder. D. Landale, W. Purlane, T. F. Hough, and Ho Fuk.
The notice convening the meeting was read. The CHAIRMAN-Gentlemen. the report has been in your hands for some days and with your approval I will take it as read. We have again to congratulate ourselves on a satisfactory year's working, and although the number of steamers fitted with refrigerating machinery continues to increase we have been able to dispose of a larger quantity of ice during the year 1895 than during any preceding twelve months. The company's premises are in excellent order and the town depot has been redrained at a cost of $378 in accordance with the sanitary laws. As mentioned in the report, it will be Gnecessary to expend some money within the
next two or at the outside three years in enlarg ing the works and improving the machinery in order to meet the increasing demand for ice during the months of July. August, and Sep- tember, which necessitates the upkeep of a much larger plant than would be necessary were the deliveries more equally divided over the other months of the year. Under these circumstances the General Managers trust the conservative policy they propose to adopt in dealing with the profits will meet with the approval of share. holders. With regard to this year I may say there appears at present every prospect of the results being again favourable. Owing to the decline in the value of coals the working expenses will probably be slightly less, and as the vacant offices in the Company's town pro- perty have been lef for a period of three
years, our rent account may be exjørted to show an in- crease of approximately $1,700, 11 does not occur to me to make any further remarks, but if any shareholder would like any further in- formation I shall be pleased to give it.
The CHAIRMAN-Gentlemen, the report ami accounts having been in your hands for several days I shall, with your permission, follow the usual course and take them as read. From thein will have been glad to observe tlint last year's working has been very satisfactory to the Company. The amout of cargo offered to us for storago was, for several months, larger than the reen at our disposal, so that we had to hire additional dowus in order to- accommodate our custogau pu Some of these are still under lease to us. Algh, of course, we hope that a similar happy state of our affairs may continue, stil it would be too sanguine to rely on such an expectation, the quantity of gools offered to us for storage being of too un- certain a nature. Your General Managers, with the approval of the Consulting Committee, bave therefore thought it best not to advance the rate of dividend by more than 2 per cent, as compared with last year. This will reserve fund, which
enable the creation of a will certainly be useful. in case times should get worse again, as well as if at any future time extraordinary repairs should become necessary. Į Ordinary pairs, as you know, are always paid out of working account, and the buildings kapt in as good a state of repai: a possible To provide as much as possible against anything; unforese we have thought it well to insure our main buildings on the Praga and Queen's Road against damage by typhoon. For that purpose the buildings have recently been surveyed by the architects of the Insurance Company, and I am glad to say that with the and exception of some trifling alterations repairs, which are now being executed. these gentlemen found everything in good order. Competition in the storage business remains as keen as ever, but with some outside godowns rented by us we could afford to lose some business without materially reducing our net revenue, by simply returning the godowns now under lease to their owners. There is nothing further that occurs to me, but if any of the shareholders present have any questions to ask I shall be happy to answer them.
There were no questions and the CHAIRMAN moved the adoption of the report and accounts.
Mr. SCHWENCKE seconded. Carried.
There were no questions, and the CHAIRMAN proposed the adoption of the requart and accounts.
Mr. LEWIS seconded.
Carriel.
Mr. Cox proposed and Mr. PARFITT seconded the re-election of Mr. Thomas Arnold as auditor.
Carried.
ThHAIRMAN-That concludes the business of the meeting. The dividend warrants will be sent out to-morrow.
HONGKONG FIRE INSURANCE CO., LIMITED.
The following is the report for presentation to the shareholders at the twenty-seventh ordi. nary general meeting to be held at the offices of the General Managers, on Thursday, the 27th February :—
The General Managers and Consulting Committee have pleasure in laying before the shareholders the twenty-seventh annual report of the Company.
1894 Account. The result of the year's working shows a profit of $92,503.93, which sum, with the approval of the Consulting Committee, it is now pro- posed to deal with as follows:-
Bonus to contributing shareholders...$20,103 93 Dividend of $9.05 per share
72,400.00
$92,503.93
1895 Account.-This account shows a balance at credit of $260,712.64.
[February 13, 1896.
MORTGAGES.
The General Managers and Consulting Committee* are satisfied that the securities held by the Company form an ample guarantee for the advances made.
CONSULTING COMMITTEE.
Messrs. J. S. Moses and C. J. Holliday having left the colony, Messrs. M. D. Ezekiel and A. Ross have been nominated to the vacant seats, and their appoint- ment requires to be confirmed. The present mem- ters, Messrs. Chater, Bird, Lewis, Ezekiel, and Ross, retire, but offer themselves for re-election.
AUDITORS.
The accounts have been audited by Messrs. Ful- larton Henderson and A. Coxon, whose re-election is recommended.
Dr.
JARDINE, MATHESON & Co.
General Managers,
Hongkong Fire Insurance Company, Limited. Hongkong, 4th February, 1896.
BALANCE SHEET, 31ST DECEMBER, 1895.
Capital subscribed
LIABILITIES.
Amount paid-up. Reserve fund Uncollected dividends Accounts payable Working account, 1894;—
Net profit
Working account, 1895:-
Cr.
$2,000,000.00
Amount brought forward from below
ASSETS.
400,000.00
1,000,000.00
2,090.32
37,898.15
92,503.99
260,712.64
$1,798,205.04
$
12,961.52 3,729.12
$300,000.00
Cash, on current account with Hongkong
and Shangbai Ranking Corporation Cash in hands of tieneral Managers Fixed deposits
Hongkong and Shanghai
Banking Corporation Chartered Bank of India,
Australia, and China
50,000.00 Mercantile Bank of Inlia. Id. 50,000.00
Mortgages:—
In Hongkong In Shanghai In Foochow In Amoy
Investments:-
Chinese Imperial Government
loun, 1886 Hongkong
and Kowloon Wharf and Godown Co., Limited, debentures
200 shares in the Hongkong Land Investment Co., Ld...
5 shares in the China Fire
Insurance Co., Limited
Steam fire engines Accounts receivable
To losses and claims paid.
400,000.00.
3654,500.00 }
442,146,08
59,000.00
20,000.00
1,175,846.03
$33,066.69
60,040.00
13.000.00
274,00
[06.141.69 2,000,00 92,126.68
$1,793,205.04
WORKING ACCOUNT, 1894.
$ C. 72,448.25 8,761.60
{
6,500.00 82.503.93
To retura premia and re-insurances Tu remuneration to Consulting Committee and
auditors
To balance as above.
:
By balance from last account By profit on exchange
By increased value of investments . $2,815.00 By profit on sale of Hongkong In-
land Lot No. 37
Less loss on property Hongkong R.P. of Inland Lot No. 265, resumed by the Government
$180,213.78
$167,223.19 11,101.86
227.22
$3,145.22
1,256.49
1,888.73
$180,213.78
WORKING ACCount, 1895.
€ 41,928.66
21,399.28
To losses and claims paid To charges
To commissions To fire brigade expenses To exchange
To balance as above
By net premia received, less returns and re-
insurances
By interest
By transfer foes..
26,985.29
799.24
1,840.58
260,712.64
$353,671.69
$250,085.66
103,438.63
148,00
$353,671.69
3
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