178
THE HONGKONG WEEKLY PRESS AND THE NATIO AL BANK OF CHINA, | class of houses. It might perhaps have been
LIMITED.
The following is the report of the directors to the fifth ordinary annual general meeting of shareholders to be held on Saturday, 7th March:-
To the Shareholders of the National Bank of China,
Limited.
Gentlemen,- We have now the pleasure to submit to you the accounts for the half-year ending 31st Decemier, 1895 (those for the half-year ending 30th June having Leen sent to you in August last).
The additional profit earned during the half-year amounts to $31,077.28, which with $40,701.16 brought forward from 30th June makes the total of undivided profits $71,578.44, from which the directors propose to transfer $20,000 to the reserve fund and to pay the same dividend as before, i.c. 2 Cd. per share; this at 2. 1d. (the sterling rate on 31st December)=$1.17 out here, which absoris $47,359.60, leaving the sum of 84,248.84 to be carried forward to next account.
Mr. Gillies and Mr. Chow Tung Shanig retire in rotation from the Head Office Board, and Mr. Buttery from the London Committee, and being eligible for re election offer themselves accordingly. Your obedient servant,
HERM STOLTERFGIFT, Chainan. Hongkong, 11th February, 1896.
BALANCE SHEET, 31ST DECEMBER, 1895.
LIABILITIES,
Capital, 750 fully paid founders shares of £1
each (at par of 3s.)
C.
possible to build a class of houses which would have paid better a low class of houses; but still I do not think it is advisable to build that class of houses on the upper level. and I believe that we have done the right thing in building a class of houses which suits the neighbour- hood and which is undoubtedly an ornament to the colony. Anyone who goes and looks at your Richmond Estate at the present time from any point of view he likes will, I think, agree with me in saying that there is no finer property existing in this colony, and for all I know anywhere else in the world. (Hear, hear.) The houses are all of a very superior class; every attention has been given to the sanitation of the houses; they are, in point of fact, perfect houses; they cannot be ment and all the knowledge that could be made any better than they are.. All the judg thrown into the building of the houses have been thrown into it. and I think you will find that that will be, as it ought to be, and as was prophesied it would be, one of the healthiest and most charming districts in the colony. Our Kowloon estate is a very different thing; that will be, in the near future, I think, practically city land; it is laud, I mean, all on a low level, which may become will surely become very valuable property. But there was never any great amount of money in hill land or rural land; the most money is in city land; and it is in the development of your Kowlcon estate that I look forward with confidence to see your re- turus. If we can give a moderate dividend, a fair dividend on the capital of the Company, and at the same time enhance the value of our property several times over, we shall not de badly, and I. think it is in the Kowloon estate that we have the pull. If you walk through it you $7,786,487.49 will find it will take you a long time to get through the different roads that intersect $ ci the estate, and you will probably think by 768,858.03 the time you have finished your walk that you have had enough exercise for that day. I believe that with the opening up of China, which is going to take place very soon I think, and the possibility of a railway to Canton, we shall have a city at Kowloon quite as important as the one on this side. I do not mean to say this will happen to-morrow or the next day, but it will come in time. and Kowloon, of course, is the natural position for a railway. If we
are in contact with the mainland when China begins to open up, and when the 47,359.60 province, of Canton begins to open up, in all 4,218.34 probability you will find that the low level land in Kowloon that is nearly opposite the $128,134.39 | city of Victoria will become very valuable indeed. I should not like to say how valuable,
Point and West Point at the very least. I shall but as valuable as land, we will say, at East
be pleased to answer any questions that may be put.
5,000.00 Capital, partly paid £326,376 (at par of 3s.). 9,175,839.90 Reserve fund
50,000.00 454,795.00 2,454,560.39
Notes in circulation
Fixed deposits, current and other accounts. On drafts, acceptances and endorsements
(billa re-discounted)
Balance of profit and lose account
2,674,695.67 71,578.44
Cash on hand and at Bankers
ARETS.
Government securities belonging to the Bank Bills receivable, loans and advances Furniture, stationery, and stamps
Adjusting account (exchange and interest).
176,272.32 6,437,155.12
40,519.44 363,662.58
$7,786,487.49
PROFIT AND Lugs Account, 31st December,
Dr.
Charges, directors' fees and salaries Amount to be placed to reserve fund... Dividend account, proposed payment of $1.17 per share on 401,453 shares, 2 6 per share at exchange of 2 18 Balance to be carried forward to next account
.....
RESERVE FUND, 31ST DECEMBER, 1895. By amount brought forward from last half year By amount now to be added, as above
1995.
$ C. 56,555.95 20,000.00
C.
Cr.
$
Balance brought forward from last half year. Gross earnings for half year ending 31st De.
cember, 1895
40,501.16
87,633.23
$128,134.39
$50,000 20,000
$70,000
$70,000
$70,000
*
To amount carried forward
HUMPHREYS ESTATE AND FINANCE
COMPANY, LIMITED.
The annual meeting of the shareholders in the Humphreys Estate and Finance Company, Limited, was held on the 25th February, at the offices, 38, and 4), Queen's Road Central. Mr. J. D. Humphreys presided, and there were also present Messrs. Hart Buck (Secretary), J. R. Michael, G. H. Potts, H. Humphreys, A. P. Nobbs, A. H. Mancell, E. S. Kelly, and W. E. Clement.
The SECRETARY read the notice calling the meeting.
:
The CHAIRMAN-Gentlemen, the report. is a pretty full one and I do not think there is any necessity for me to say very much. The Company is getting on as satisfactorily as pos- gible. We are developing our land, especially at Kowloon, and we have now entirely built over Richmond Estate with a very superior
|
No questions were asked, and the CHAIRMAN moved the adoption of the report and statement of accounts.
Mr. CLEMENT seconded the resolution. Carried.
The CHAIRMAN-I beg to propose that Mr. Fullerton Henderson be re-elected auditor for the ensuing year.
Mr POTTS seconded, Carried.
The CHAIRMAN Dividend warrants will be ready to-morrow.
The following is the report of the Governing
Directors :-
To the shareholders of Humphreys Estate and Finance Company, Limited.
Gentlemen,-We beg to lay before you our report and statement of account for the year ending 31st December, 1895.
The net profit for that period, including $915.00 brought forward from the year 1894; amounts to $10,098.61, but as the year under review has re- ceived little or no benefit from the present and pro- spective increase in our rent roll we have added a fund, making the amount available for appropriation sum of $10,400.00 from the equalization of dividend $20,498.61, and propose the payment of a dividend of 7 per cent, for the year and to carry forward to the credit of profit and loss $2,718.61.
By the completion of the public roads which in tersect your Kowloon estate, all the subscribed share capital is entitled to dividends earned from 1st January, 1895, necessitating the development of the land thus opened up at once
|
[February 27, 1896.
In addition to villa residences, 74 houses were planned for the Hongkong regiment, including quarters for the commanding officers, a durbar house, and quarters for the married native officers and men. Ninet en of the buildings were completed and occupied towards the end of the year, the remainder are followed by a class of house which is in demand, nearing completion and occupation and will be until the whole of the lots still undealt with are built over.
The Richmond estate also received attention and the detached European houses recently built have been leased, exceptiwo, which are not quite finished. The accounts have been audited by Mr. Fullerton Henderson, who offers himself for re-election.
JOHN D. HUMPHREYS & SON, Governing Directors. Hongkong, 19th February, 1896.
LIABILITIES.
8
0.
203,292.91
30,000.00
BALANCE SHEET, 31ST DECEMBER, 1895.
Fund for equalization of dividends. Fixed loans and cash on deposit Capital account Sundry creditors Profit and loss
-ABSETS.
Amount invested in property Amount invested on mortgage.
undry debtors Office furniture Building materials,
Fire insurance premis unexpired, &c Cash in Hongkong & Shanghai Bank $33,575.18 Petty cash in hand..
PROFIT AND Loss AccoUNT.
Dr.
To general charges, repairs, Crown rents, fire
insurance, auditor's fees
To interest.
254,000.00
6,233.40
20,498.61İ
$514,024.92
$ 401,700.13
e
71,892.00
4,935.88
1,212.50
160.00
408.33
140.90
33,716.08
$514,024.92
$
3,480.37 5,628.18
3,000.00
17,780.00
2,718.61
$32,607.18
$
C.
915.00
15,353.63
5,919.53 19.00
To remuneration to Governing Directors for
management, clerks, and office rent
To dividend of 7 per cent. on $254,500.00.. To balance to new account....
Cr.
By amount carried forward from 1894 By rents By sales of property and stock, &o By transfer fees.
By transfer from equalization of dividend fund · 10,400.00
:
EQUALIZATION OF DIVIDEND FEND. Dr.
To transfer to profit and loss account To balance
By amount brought forward
:
By balance..
$32,607.18
$ 10,400.00
C.
30,000.00
$40,400.00
Cr.
$ Ou 40,400.00
$40,400.00
$30,000,00
GREEN ISLAND CEMENT CO., LIMITED,
The seventh ordinary annual meeting of the shareholders in this Company was held at the office of the General Managers at noon on the 19th Feb. Mr. R. Shewan presided and there were also present Messrs. G. H. Potts, S. Benjamin, J. Orange, C. A. Tomes, R. C. Wil- cox, J. Murray Bain, Geo. Fenwick, A. C. 8. Manners, and F. J. V. Jorge (Secretary).
The CHAIRMAN said-As you are well as quainted with the contents of the report and- accounts, which have been in your hands for some days, we will dispense with reading thom on this occasion. You will observe that after making provision for all bad and doubtful debts, for depreciation and for be incurred again, at least to such an extent, special legal expenses, which are not likely to and taking over the stocks of raw and wrought material and stores at a safe valuation, we are able to show a net profit of six per cent. on our present capital, and considering the difficulties and discouragements this Company has had to encounter since its commencement I think we are justified in congratulating ourselves on such