14-18061
only a small increase over but I think we may in view of the fall in tions, and the circumstance of exchange at which our for 1895 has been converted slightly higher than that of notice that our paid-up capital $500,000 and that the balance at
our, exchange fluctuation account een reduced from $724,366 in 1894 to in 1895, a difference of $273,745. Of monnt $250,000 is accounted for by the to capital account as sanctioned at our reholders meeting, and the remaining 745 has been absorbed by the slight rise in exchange which took place during the 18953* The total profit for the year, ter carrying forward the sum of $247,950 for mated losses and contingencies, is over six The distribution proposed in our report will I hope meet with the approval of all our shareholders, and the directors are very glad to be in a position to propose to the shareholders the declaration of a second bonus of 5 per cent. to contributors, the payment of so ample a divi- dend as $15, and the addition at the same time of a considerable sum to the reserve fund. The Board thinks that in the best interests of the Company the reserve should be strengthened as much as possible. As regards 1896 account, while the figures at 30th Juns are very favour- able, the estimate for outstanding losses is heavier than usual, but it is too early to make any forecast of the final outturn, and the result of
this year's working may yet be very satisfac tory. There are, I think, no other points of interest which it is necessary to allude to, but I shall be happy to reply to any questions you may wish to ask.
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There were no questions and the Chairman moved the adoption of the report and accounts. Hon. A MCCONACHI-It has become almost monotonous to say that the Union has again issued a good report, but the one now. before us is quite on a par with the excellent reports of the past. You pay shareholders a dividend of $15 per share against 812 in 1894. You add $150,000 to reserve against $80,000 in 1894. You return twenty-five per cent.on contri- butions, which is the same as on a previous year? You carry forward $247,950 against $161,025.43 last year at the same date. I further notice that you have $257,145.04 at credit of investment Anotuations account against $167,813 in your balance sheet of 1895. It is true that you estimate your losses up to 30th September of the present year at $148,000 more than at the same time last year, and this sum may, although you do not say so, include provision for your losses -per Glenartney. Against the increased losses it is very satisfactory to see an increase of something like $65,000 in the net premium earned. Take the report as you may, it is a brilliant one, and, sir, I feel sure I but voice the sentiments of all when I congratulate the Board, its more than able Secretary, and the staff generally on the result of your combined labours. (Applause.) With these remarks I beg to second the adoption of the report and passing of accounts. ·
The CHAIRMAN Before I put forward the passing of the report and accounts I beg to thank Mr. McConachie in the name of the Board of Directors and the staff generally for his ap- reciation of their services and the results which have been obtained during the past year. I think the results are certainly very satisfactory; this is about the best report that the Union has ever brought out and our being able to put $150,000 to the reserve fund is one of the best features. (Applause.) With regard to the remark about the Glenartney I may say that she has been provided for. (Applause.)
Carried
Mr PLÁTTAIE proposed the re-election of the directors, Messrs. N. A. Siebs and R.
rdson.
Mr. R. K. LEIGH seconded.
Mr. WILCOX proposed the re-election of the auditors; Messrs, Jr H. Cox and W. H. Potts.
MY THOMPSOn seconded: Carried. - JAK
CHAIRMAN →→That, gentlemen, concludes the business of the meeting.-- I am much obliged to you for your attendance. I hope that when
CHINA OVERLAND TRADE REPORT.
we meet again' this time' next year we shall same distance between second and third. have as favourable a report to bring forward. | 1 min. (Applause.) Dividend warrants will be issued to-morrow morning.
SINGAPORE INSURANCE COMPANY.
A special general meeting of the Singapore Insurance Company (in Liquidation) was held at Singapore on the 1st October. There were present Messrs. John F. Craig (in the Chair), J. Fraser, and J. P. Joaquim (Liquidators), and Mr. A. Gunn and Mr. Moses.
Mr. Craig, in presenting the report of the Liquidators, said that the last meeting was held on the 16th of March, 1894. Since then, and up to the present, the Liquidators had not been in a position to pay a further dividend, nor had they been able to see their way to a final closing of the liquidation. The news of the settlement of the last known claim was only received by them on the 8th of September, last month. Steps were immediately taken to make the necessary application to the Court for the final closing of the liquidation. He now pre- sented the report and accounts of the Liquida- tors up to the 10th ult.
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This was all the business.
THE GYMKHÀNA,
Fortunately the weather brightened up on Saturday, and the last gymkhans of the season was held under enjoyable climatic conditions. There was a fairly good attendance and the meeting passed off very successfully. The various events were keenly contested and some interesting racing was witnessed. H.E. the Governor and Major-General Black amongst those present. During the intervals between the races some excellent music was rendered by the Band of the Rifle Brigade, who were in attendance by kind permission of Lieut. Col. Norcott and Officers of the Regiment.
were
The following were the officials Committee:—Mr. R. Alexander, B.B., Hon. J. J. Bell-Irving. Mr. Hart Buck, Capt. Burney, R.A., Mr. M. Grote, Mr. V. Cæsar Hawkins, Mr. T. F. Hough, Mr. C. H. Nugent, Capt. Loveband, A.D.C., Mr. J. McKie, Mr. G. C. C. Master, Lt. Col. The O'Gorman, D.A.A.G., Capt. Radclyffe, R.B., Commander W. F. Tunnard, R.N., Hon. T. H. Whitehead. Judges-Hon. J. J. Bell-Irving, and Hon. T. A. Whitehead.
Handicappers.—Mr. Hart Buck, Mr. Grote, Mr. T. F. Hough,
Starter-Capt. Burney, R.A. Timekeeper.-Mr. J. McKie. Clerk of the Scales.-Mr. R. Alexander, R.B. Hon. Treasurer. Capt. Radclyffe. Hon. Secretary-Lieut.-Col. The O'Gorman, D.A.A.G.
Following are details of the racing - FIVE FURLONGS HANDICAP; for all China ponies; 1st prize, $60; 2nd, $20. Entrance $2.00.
Lt. Col. The Q'Gorman's Morrison, 10st. 9lbs.
(Mr. Boden) 1
2
3
Surg. Capt. Edye's Planet, 11st.6lbs. (Owner) Mr. Potts Vagabond, 11st. 5lbs.
(Capt.. Radclyffe) Mr. Whitehead's The Laird, 11st.
(Mr. Jones) 0 Planet came away with a slight lead at the start from Morrison and the race at once resolved itself into a match between these two. Planet maintained his lead until the straight, when Morrison came up and overhauled his opponent, winning a good race by a length and half; four lengths between second and third. Time, 1 min, 224 sécs,
THE WILTER WEIGHT RACE; for Chins ponies; riders restricted to members walking 12st, or upwards; half mile; lst prize, $60; 2nd, the entrance fees. Entrance $2.00. Mr. R. Potte' Presto Mr. Dewoong Throsthe Mr. Whitehead's Kingscote Mr. Geo, Potts Squib... Mr. Forbes' Simple Simon Mr. Hastings Galgorm ....
HANDICAP SIR
LECHASE, for China over the S. C. Course. At least or no race. · 1st prize, $85022n Entrance $2.00.
(Owner)
Mr. Boden's Vapour, 11st. 91b. - Mr. Hart Buck's Voltigeur, 10st. 13lbs....
(Col. The O'Gorman) Capt. Loveband's Xerxes, 10st: 10lbs.
(Capt Rad
Capt. Loveband's Artaxerxes, 9st, 91b.
(Mr. Long)
gths
m
tained throughout and won by three Vapour quickly took the lead, which For second place a desperate contesta nessed between Voltigeur and the latter was beaten at the second home, and Voltigeur shot up and Vapour, but could not overhanl the lead had to be content with second place. Bad CONSOLATION HANDICAP; once round course
for ponies that have run in this season & Gym: khanas and not won a fiat race; first prize $60 2nd, $20. Entrance $2.00 Mr. Potts Vagabond, 11st. 5lbs. (Mr. Jones) Mr. Nugent's Armistice, 11st. 2be.
(Capt Radolya.
Capt. Burney's Baccarat, 9st. 9lbs.
(Mr. S. Long). Mr. Whitehead's Kingscote, 10st. 7lbs.
(Mr. Boden)
Capt. Long's Borderer, 9st. 13lbs....(Owner)
Armistice was leading until a few yards from the post, when Vagabond shot out and the judge's verdict with a length in han Time 2 mins. 6 secs.
TENT PEGGING COMPETITION; first prize,
Cup presented by Major General Wilsone Black, C.B., 2nd, the entrance fees. Entrance $2.00. Points will be added or deducted for pace, accuracy, and style. Capt Loveband Mr. Geo. Potts Capt. Welman
Mr. de Vitri Surg, Capt. Edy. Captain Long Lieut.-Col. The O'Gorman Mr. C. H. Ross
1, Capt. Loveband; 2, Mr. de Vitri. LADIES NOMINATION; a mathematical
Entrance $2. Competitors must start mounted st winning post ride over a hurdle, round
flag (left arm) 150 yards distant and back over hurdle hand an envelope to no minator containing a paper on which a sum has to be worked out by the nominator un
· assisted : once more over the hurdle and round the flag: first in with sum correctly worked in his possession wins. Capt. Loveband, nom. by Mrs. Lee.............. Capt. Long, nom. by Mrs. Ecoles........... Capt. Welman, nom. by Mrs. Welman. Mr. Thresher, nom, by Mrs. Hawkins.. Mr. Berger, nom, by Mrs. Norcott Mr. de Vitré, nom, by Miss Jackson THE GYMKHANA CUP; 14 mile race; for ponies. that have run in this season's Gymkhanas; first prize, $120, 2nd, $25; weight for inches as per scale. Entrance $3. Mr. Master's Red Fish, 11st. llb... (Owner) . 1 Mr. Potts' Vagabond, 10st. 12lbs.
..
(Mr. Jones) Hart Buck's Votigeur. 11st. 1lb.
(Capt. Radclyffe) Lieut. Col. The O'Gorman's Morrison 10st.
71b.
(Mr. Boden) This was perhaps the best contest of the the race down the straight between Red and Vagabond being very exciting was leading, closely followed by Vaga the latter made a gallant challenge. from home, but Red Fish, on whom was riding a capital race, shook and won by three-quarters of 3 mins. sec.
In view of rebellions breaking out occasion ally in the Province, H.E. Liu Kunyi has (Owner) 1 instructions to the Shanghai Taotai (Owner) 2 him to consult the Commissioner of (Owner) 3 with view to more rigid arch bei (Owner) 0 for
board the (Owner) 0 strictly deal with, parties (Owner)~~0 | arms. The Consul
with, that they may instruct see that no sale of fir persons other than
After considerable delay at the post the six competitors were got away to a fairly even start and kept well together as far as the bend, when Prestó drew ontand won by about three lengths
from the Government to buy ther