March 12, 1896.]
THE CHINA AND MANILA STEAM-
SHIP CO.,
LIMITED.
-
The following is the report for presentation to the shareholders at the thirteenth ordinary general meeting to be held at the office of the General Managers on Saturday, 28th March:- Annexed we beg to submit to shareholders the usual armual statement of accounts. for the year ended 31st December, 1895.
#
The net profit, including the balance from last year, amounts to $35.974.02, which it is proposed to deal with as follows, viz:--
To place to reserve fund
To
$10.000.00 pay a dividend of 10 per cent. ......................... 25,000.00 To carry forward to next year's accouut 074.02 The Zafiro returned to the line, after completing the repurs necessitated by her accident on 19th January, 1885, and both steaners ran regularly throughout the year, stopping only for docking and painting. Rates of freight ruled steady during the twelve months and with cheaper fuel the result is a considerable improvement or that of last year, allow- ing of a dividend of 10 per cent, as agust 7 per cent. for 1894. The Zafiro underwent her No. 3 survey in January and the Esmeralda her No. 1 sur- vey in July, 1895. Both vessels are in first class order.
CONSULTING COMMITTEE.
Mr. J. S. Moses resigned on leaving for home and Mr. M. D. Ezekiel was appointed in his place.. His appointment requires confirmation. Mr. Gillies was granted leave of absence and is expected to re- turn shortly. In accordance with the articles of association Messrs. Gillies, Siels, and Shewan all. retire, but offer themselves for re-election
AUDITORS.
The accounts have been audited by Messra. J. II. Cox and T. Arnold. Messre. Cox and Arnold are eligible for re-election.
SHEWAŃ & Co, General Managers. Hongkong, 6th March, 1896.
PROFIT AND Loss Account, FOR THE YEAR ENDED
་་
CHINA OVERLAND TRADE REPORT.
HONGKONG ROPE MANUFACTUR- ING CO., LIMITED.
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to the shareholders at the twelfth ordinary The following is the report for presentation general meeting to be held at the office of the General Managers, on Saturday, 21st March:
Annexed we have the pleasure, to lay before share- holders the usual annual statement of accounts made up to the 31st December, 1895.
The net profit including the balance brought for ward from last year amounts to $83.456.08, which it is proposed to appropriate as follows:-
To place to reserve fund
$65,000.00 To pay a dividend of 10 per cent...... 15,000.00 To carry forward to next year's account 3,486.08 As it has now become necessary to increase the capacity of the factory by enlarging the filding and making considerable additions to the plant, &, it is intended to raise the capital to $250,000 by issuing 2000 shares of $50 each, in payment of which the sum of $100,000 from the serve fund will be applied. The necessary resolutions for effecting this will le proposed at an extraordinary meeting to be held after the clse of the ordinary meeting
CONSULTING COMMITTEE.
In recordance with the articles of association Mears. Lewis and Shewan retire, but offer them- selves for re-election. Messrs. Gillies and Moses resigned on leaving for home and Messrs T. I. Rose and M.D. Ezekiel were respectively appointed in their places.
These appointments now require con- firmation.
AUDITORS.
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The accounts have been audited by Messrs. T. Arnold and F. Henderson, who are recommended for re-election.
SHEWAN & Co.
General Managers.
Hongkong, 2nd March, 1896.
PROPIT ́ANDLoss Account, POR THE YEAR 1895, Consulting Committee's fes
$1,000.00 Auditor's fee
300.00
5,000.00 83,486.08
Written off buildings and machinery as depre
ciation for the year 1895
Balance of working account
BALANCE SHEET.
ASSETS.
Value of factory, machinery, &c.,
$89,786.08
$ 4,152.02 1,906.63 47.71 274.95 83,401.77
$89,786.08
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the annexed balance sheet for the year ended 31st December, 1895. The accounts have been adjusted at the exchange of 2/2 per dollar.
1895.-The next premiums for the year 1895 claims have been settled up to 31st December last, amount to $1,108,569.62 (£120,095.0.9), on which amounting to $390,854 52 (£41,259.49).
Commission and expenses amount to $189,377.62 (£20,515.18.2).
The balance of $538,337.48 (£58,319.17.10) is carried forward.
1894. The settlements on account of 1894 and
pre vious years amount to $382,312.20 (£41,417.3.1). To close the account the sun of $30,000 (£3,250) has been transferred to underwriting suspense account and the balance remaining $36,885.40 (3,995.18.5) has been transferred to profit and loss
account.
PROFIT AND LOSS ACCOUNT. The interest on investments amounts to $53,267.57 (£5,770.13.1). After deducting 10 per cent. divi- dend ($60,000) paid in 1805, 15 per cent. $1,500
£162.10.0) written off stock and furniture account, and $5,514.74 (£597.8.7) loss on investments realised, there remained a balance at credit of profit and loss account of $98,309.21 (£10,605.3.4), from which the following appropriations have been made:--- To reserve fund
leaving a balance of. Employd's gaurantee and provident fund
$20,000.00 3,000.00 75,309.21
The Board now recommend that there be declared dividend of 10 per cent. per annum for the year 1895, absorbing" $60,000, and that $15,309.21 (£1,658.10.0) be carried forward to new profit and
Loss account.
DIRECTORS.
In accordance with the provisions of clause 105 of the Company's articles of association, the Hon. T. C. Bogaardt and the Hon. G. S. Murray retire from the Board, but offer themselves for re-election.
On their departure from the colony Mr. D. C. Neave and Mr. A. H. Raeburn resigned their seats at the Board, and their places have been filled by the appointment of Mr. P. C. Hoynck Van Papen drecht and. Mr. A. W. Stiven.
AUDITORS.
Mr. J. Lyall having gone from the colony on leave, Mr. P. T. Evatt was appointed auditor to act during Mr. Lyall's absence.
In accordance with clause 146 of the Company's articles of association, Mr. P. T. Evatt and Mr. R. Dunman retire, but offer themselves for re-election.
T. C. BOGAARDT, Directors. T. 8. THOMSON,
Singapore, 27th February, 1896.
BALANCE SHEET, 31ST DECEMBER, 1895. Dr.
31ST DECEMBER, 1895.
Consulting Committee
- 2,000.00
Auditors' fees
Interest account
300.00 65.42
Balance
Exchange account
824.50
Charges account
1,181.75
Amount written off for depreciation 1895 Balance
23,201.68
Balance brought forward from 1894
35,974.02
Interest and dividends on investments
Exchange
Bad and doubtful debts recovered
$63,537.37
Balance from last account
Less dividend for 1894.
$18,814.40 17,500,00
$
C.
1,314.40
Profit on working steamors Esmeralda and
Zafiro
60,303.59
Cost of land.
Profit on stores ........
1,803.26
$ $20,000.00
Profit on forfeited shares 1893
79.10
Dividend on fractional certificates
14.00
Amount transferred from bad and doubtful debts
23.02
as per last statement.......... Less depreciation for 1895
$100,000/00 5,000.00
95,000.00
To capital fully subscribed, 30,000 shares at-
$63,537.37
Value of rope, hemp, &c., in godowns Value of rope on consignment
40,847.41
$100
3,000,000.00
$48,540,54
To capital paid-up.
600,000,00
Less advances on same...
11,144.56
To reserve fund.
180,000.00
BALANCE SHEET.
ASSETS.
37,395.98
To reserve for exchange and investment
C.
Less depreciation written off
Value of Company's steamers Es-
meralda and Zafiro..
Value of buoys and moorings at
Amoy and Hongkong
.3248,000.00. 23,000.00
Cash in hand
Cash at factory
220,000.00
Sundry debtors
Less depreciation written off
Value of coals on hand.
Value of stores on hand
$701.08 201.68
Fire insurance promin account 1896. Hongkong and Shanghai Banking Corporation
Investments ip shares of local companies, viz.: 200 shares Hongkong Land Investment and
Ageney Co., Limited
928.23
fluctuation
100,000.00
25,263.29
To reserve for renewal of buildings
3,220.00
1,057.60 25.00
To reserve for equalisation of dividends
30,000.00
12,021.05
To underwriting suspense account To balance of working account, 1895 To balance of profit and loss account. To unclaimed dividends
To sundry creditora
30,000.00
638,337.48
75,809.21
1,508.00
10,170.78
600.00 255.75
8,529.98
100 shares China Traders Insurance Co., Lal 50 shares Hongkong and Whampoa Dock
Co., Limited
$1,548,549.47
Outstanding freight 1895..
Sundry debtors
Premium value of unexpired policies......................
Hongkong and Shanghai Banking Corporation 41,114.49 Cash on hand
9,526.87
27,830.41
50 shares Yangtze Insurance Association
Co., Limited
Cr.
$ c.
13,461.08
200 shares Douglas Steamship Co., Limited
45,930.00
779.56
By, caah on current account with Banks,
Singapore, China, &c.`
$273,470.64
$316,798.14
LIABILITIES.
Capital, 3,000 shares at $50 paid up
3 150,000.00
| By fixed deposits in Banks, Singapore
By real estate owned by the Company, Sin-
gapore....
20,871,81 110,000.00
116,880.68
Capital, 5,000 shares at $50
LIABILITIES.
per
sbarc
$ 250,000.00
a
Reserve fund
Sundry creditors
Underwriting account
5,526.82
Balance of profit and loss account
33,030,00 2,954.54 83,486.0$
By mortgages of real estate, Singapore. By municipal and other debenturos, Singa-
225,500.00
poro
96,000.00
Sundry creditors
18,306.30
By Chinese Imporial Government loan E... By agency balances and sundry debtors for
15,304.34
Due to General Managers Balance of profit and loss account
6.991:00
8278,470.04
premiums,
&o...
*67,873.50
35,974.02
$316,799.14
By branch and agency balances, London, &a By cash on current account with Banks,
London, &c...
113,933.96
19,660.73
One of the self-imposed tasks Li Hung-chang undertook when he went last year to Peking was, to head a subscription list amongst the Princes and highest dignitaries in the capital to help the Imperial family to renew the Yuen- mingyuan Palace. A pretty large sum has been subscribed in this way and work will begin next month.-N. C. Daily News.
THE STRAITS INSURANCE COMPANY, LIMITED.
The following is the twelfth annual report for presentation to the shareholders at the nineteenth ordinary general meeting to be held at Singapore on the 12th March :--
To the shareholders of the Straits Insurance Comp- pany, Limited.
Gentlemen.-Your directors beg to place before you
By freehold office premises, London By romittances in transitu, London By furniture and stook at head office and By cash in hands of cashier..
branches
By fixed deposits with Banks, London; &a By Government and municipal bonds and
stock, London, &c.
41,588:48
445,056.54
257,904.54
9,397.18
£575.85
61.81
81,548,549.47
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