February 13, 1896.]
THE SHANGHAI GENERAL CHAMBER OF COMMERCE.
A meeting of the Committee of the Chamber of Commerce was held at the office, No. 1, Kiukiang Road, on Monday, the 3rd February, 1896, at 4
p.m.
Present:---Messrs. A. P. MacEwen (Chair- man), J. Chapsal. C. J. Dudgeon. John Graham, A. Korff, W. D. Little, J. H. McMichael, D. M. Moses, E. B. Skottowe, and the Secretary.
The minutes of last meeting were read and confirmed.
Facilities given to Shippers by Conference Steamers.-A letter was read that had been
received from the Hongkong Chamber of Com merce on this subject, and it was resolved to reply that it treated of a matter which could hardly be dealt with by the Shanghai Chamber. The British Mail Coutract A letter from the Hongkong Chamber was road which pedrtedl out that the Government contemplated scene, changes when the existing contract terminated in January, 1898, and it was resolve to send an. energetic protest against innovations as being decidedly detrimental foreign trade in China.
CHINA OVERLAND TRADE REPORT.
shorten the stoppages at Hongkong fixefl under the present contract. These stoppages), as you are aware, at present are 24 hours on the out- ward and 48 hours on the homeward voyage.
I should be glad if you would. as on former occasions, consult the Local Chamber of Com- merce on this point; but you will no doubt in any case let me know what is the shortest stop. page required for landing and embarking the
mails.
!
139
the directors to issue delentures to the extent of Trels 1.000.000 in addition to the amont already authorized and under issue.
Capital on 31st December, 1895, stands at Tuels 813,700 and the directors have thought it advisable to invite full payment of those shares now not fully* paid-up..
DIRECTORS.
Mr. Dudgeon retires by rotation, but offers him2 self for re-election.
AUDITOR.
The question has been raised whether the
The directors have to regret the loss of their late future terminal point of the luperial subsidised mail service with the Far East might not be auditor, Mr. Francis, who died shortly after the last annual meeting, and they wish to record their ap- Hongkong instead of Shanghai. the
rangepreciation of the valuable service he has rendered ments for the conveyance of th nails btween
the Company since the date of its formation. Mr. Hongkong and Shanghai
to your Charles H. King was appointed to succeed Mr. office. On this point also I should be glad to Francis, and he again offers his services for the cur- receive your remarks. Of course, for sheh con- Veyance of mails from Europe your office would be entitled to a mileage proportion of the union sea rates.---I am, sir, your obedient servant.
S. WAYSON. the Postmaster-General. Hongkong.
SHANGHAI LAND INVESTMENT COMPANY, LIMITED,
:
Unchopped Piece Goods.-A letter from the Manchester Chamber of Commerce, enclosing! The following is the report of disgore for. copy of a despatch from 11... Foreign Office, was presentation at the seventh annual meeting of shareholders to be held on the 19th Febru- read, and it was decided to reply that the in- formation required should forwarded if ary possible.
After the transaction of further business, certain correspondence was ordered for publica tion of which we reproduce the following:--
FACILITIES GIVEN to SHIPPERS KY CONFERENCE STEAMERS,
N
¦
Hongkong. 17th January, 1895, Dear Sir-The existing arrangement- detrimental to the trade interests of Great Britain by which shippers of goods by certain lines of steamers running between China and >the United States and the Continent of Europe | are grauted more favourable rates of freight than in the case of direct shipments from and to Great Britain has no deals already engaged the attention of your Chamber.
It soeus very desirable that steps should be taken towards endeavouring to redress this grievance, and in view of possible common action on the part of your aid this Chacalor, Pi Commitice will be greatly obliged
afford them say information relating system of preferential fescles as shipments to and from y or port sir, yours faithfully,
-
Hesta
Drummond Hay. Eq.
Secretary, Chambea of €*
Shot what
THE BRITISH MATI CONTENT:
Hongkong 170 Jee
Y
ter
Sir.-in the weegupanying my mi having reference to present Ma minating in Jaunary, 1898, tha question is asked by the Post Office authorities, Londen, în con nection with other suggested ultrations, who. ther the terminal point of the Imperial subsi dised mail service to the Far East might not bu made Hongkong insteid of Shanghai
The directors beg to present their seventh annual report and a statement of the Company's are justits for the year 1895, and in doing so they think they may ongratulate the shareholders on the steady procrés the Company is making in its earning power-
The profit on the working grount statulf at Taris 54,430,58 as against Tarl1⁄2 13561 34 last papir.
The profit and kes gecount, afer debijeding the Jount of interum dividend paid in Jury) shows a credit Lalance of Tuels 42:45.77 at Mist Fecember. This sum the directors would propose to divide as
-
The point raised must necessarily be of in- terest to you, and as it may not have been others wise brought to your notice I have much plea- sure in handing you copies of the correspondence; above referred to, for the information of your Chamber. I am, dear sir, yours faithfully,
F. HENDERSON, Secretary. Drummond Hay Esy..
Secretary, Chamber of Commerce, Shanghai.
General Post Office, ́ London, 25th October, 1895. Sir, I beg leave to inform you that the conditions under which the Mail Service be- tween this country and the East is to be per- formed on the expiration of the existing con- tract in January, 1898, are now under con- sideration.
It will probably be deemed to call for tenders for a service on the lines of the existing arrangements; and I shall be glad to learn whether in your opinion it would be possible to
follows:--
cent. on
To pay a final dividend of 44 per
the paid-up capital (making 7 per cent. for the year)
Taels 36,616 50 Transfer to reserve fund (in- tere for 1995 on undeveloped portions of No
2 and NG, 5 Estates)
To carry forward to new account
#1
t.
rent year.
II. R. HEARN, Chairman.
WORKING ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 1895. Dr.
To brokerage on debentures ! To alvertising
To Agency management To interest
To legal expenses
To directors' fees
To auditor's fee
To trustees' fee (half-year)
Tis. ota. 1,901.00
174.89 7,500.00 28,157.78
357.19
2,000.00
200.00
250.00
To balance transferred to profit and loss account 56,490.58
By gross rentals
Taels 97,031.24
Tis. cts.
109,457.52
Less fire insurance, taxes, water,
repairs, de.
12,805.85
96,651.67
130.12 249.45
Taels 37,031.24
by transfer fees By commission
PROFIT AND Loss ActENT.
IT.
J
24th Feb., 1895. To final dividend.1694 (a. 4 per cent.
. To interest on No. 2 estate 1594 transferrod
Tls. cts. 27,042.00
to reserve fund
5,718.67
31st July, 1895.
To interim dividend 1893 (a à por vent. 31st Dec., 1595.
21.628.20
To balance
42,935.77
་་
2.421.28 3,898.01
Taels 95,922.64
Tis. cts. 37,010.80
By interest o N 2 124 N..
1-45 Mahsterrei
wlates fr
2.421.24
Nos. 1 & 4 Estates call for no comment, the rentals
itar to papk the same as they did last year. No. e. The terrace of eight foreign houses referred to in last ven.'s report has been finished and The terre miseren rin contals. 1. Nath Szeclamen Road is appro ne char completion and the here have virgely been A farbær inne oduva shut smaller twee in the same ad un Borwa 1. and the continuation f the term C
d'est a ze rothalere!. Lever have been
f which are well let
vet kena and when tid o
Te Title and in ti is e-fate tarik
Almost all rental both Caters t
een slighly increased during the per
W
Ax.
N.. 3 Estate.-In Orteler host the Œset as des ceived an offer of Taels 18500 be this pegungs and, considering it satisfactory, aneped in however, the payment of the pinchos progy ins not beet: completed the profit, some Table coqueno, cannot appear in the 1895 aceas
this estate
No. 5 Estate.-- The developinch' has continued steadily during the rear fad the bot block to be built upone is now being takej in hand The houses have mostly been no satisfactory results.
No. 8 Estate. This property, masistine a plan Jinkee and Sin Wo compounds Wilastraf Lots No. 22, 25, 26, and 27), was bught in. Deemder for Taels 300,000, and the directors feel confiflem it will eventually become a valuable acquisition to the | Company. There has not been time yet for a full consideration of the plans for improving the property.
DEBENTURES.
With regard to the trust deel, to which reference was made at last meeting, your directors have to announce its due execution. They have to thank Messrs. Charles Dowdall and Neil Machel, M.D., for having kindly undertaken the trust, under which estates Nos. 1 and 2 are specially held. Your diree- tors have thought it desirable, in view of the revent acquisitions of property, to annome the issue, from the 1st January, 1896, of the last instalment of the Taels 1,000,000 authorized. To provide for further possible requirements of the Company, a resolution will be proposed at the annual meeting to authorize
Ist Jun. lak.
By balance
Mist Dec., 1-95
By inlance working a mount, ise.
fael: 95.922.04
31st B., ISGA To boat
RESERVE Fexp ASST. Dr.
Iet Jan.. Id
By balance
28th Feb., 1995.
Cr.
By interest on No 2 estate for 1891
Ti. cts. 37.24.97
$87,224,97
Tis. cts. 33.508.30
3.716.67
Tacls 37,224.97
BALANCE SHEET.
ASSETY.
Estate Nu. I
Estate Nr. 2
Estate No. 3
Estate No. 4
Estate No. 5 Estate No. 6 Cash due by Agents Sundry debtors Sundry mortgages.
LIABILITIES.
Tis. cts.
519,642.65
531,955.09
114,829.16
129,630.06
$6,569.61
300,024,22
594,54 13,681.81 220,383,33
Taels 1,917,310.47
Tls. ota. 813,700.00
Capital paid-up Hongkong and Shanghai Bank, current account 19,662,08 Hongkong & Shanghai Bank, advance account 250,000.00 Debentures bearing 6 per cent. interest.. Debentures bearing 5 per cent. interest Profit and loss account Unclaimed dividends. Sundry creditors Reserve fund
500,000,00 250,000:00 42,935,77
136.80
3,650,85 37,224.97
Taels 1,917,310.47