CHINA
RLAND TRADE REPORT:
n and rebuilt. Upon | DAKIN OR
that the also
ructed and this And the Committee are gallery is now in a perfectly
on the 29th July last broke I did a certain amount of damage
to the plaster work, but for no serious loss resulted.
lvo months from 1st July,
June 1896, the Theatre was Amateur Dramatic Club, the Society the Rifle Brigade, the Concert Club, and the Centurion well as by the New Willard Opera few other travelling artistes. outbreak of plague in the early and the dread of quarantine re- unfortunately had a bad effect on the from this source of income. As in the use of the St. Andrew's Hall Theatre was granted for educational ritable purposes free of charge.
The gross receipts from the Theatre and the St. Andrew's Hall between 1st July, 1895, and 30th June, 1896, amounted only to $2,831.27 as against $4,520.72 received during the preceding twelve months, while the receipts from the ball room suite showed a slight improvement, being $1,296.71 as against $1,001.03 în 1895-1896.
~THE LIBRARY.
valuable copy of De Guigues' Chinese dictionary has been presented by Dr. Chalmers, and daring the twelve months ending the 30th
*
|
LIMITED
AND CO
An extraordinar
meeting of share- holders in Dakin. Graic shank and Co., Li
as held at the Hongkong Hotel on the 11th January at noon. Mr. A. Bain presided and there were also present Messrs. R. A. Gubbay (Director), W Hay (Manager), F. B. H. Bowlby (Legal Adviser), F. Maitland (Liquidator), A.G. Stokes, A. Coutts, M. S. Sassoon, 8. 8. Ben- jamin, F. P. Rosario, and Fung A Chat
Mr. HAY read the notice calling the meeting. The CHAIRMAN Gentlemen, you have heard the notice calling the meeting and before these | resolutions are put I should like to say a few words. The one thing I should like to know, seeing we have a legal adviser here, is what are the duties of the liquidator P Are we as directors debarred from all future responsi- bilities P
Mr. BowLRY-With the appointment of a liquidator the duties of the directors cease.
The CHAIRMAN-There is nothing in our articles of association in regard to that and of course if you say that we as directors have no responsibilities after the confirmation takes place I understand you to mean that ?
Mr. BOWLEY-That is so, excepting so far as the Company in general meeting or the liquidator may sanction the continuance of the directors.
The CHAIRMAN-The Company was wound up at the last meeting and really I want to know what the liquidator has got to do. You have appointed him and are going to give him $500 and I want to know what he has got to do for it. Before the last
a con
p this Comp
Is the liquidator
Mr. STOKE I do not ki penses will be
The CHAI
and for
M will hare t
ment
The CHAIRMAN-I hope that Mr. MAITLAND But the Con
for myself
the purchaser. ion of
Bre
to 1 7 the Company's solicitor
pay the The CHAIRMAN There y what I want to know Why... legal man as liquidator and settle thing at once. I want to know paying this $500 for That is the I want to know, What are we out of it? If we have to take legal advice, supposing the Company is transferred, will the liquidator be able to transfer the Company to another Company with no extra expenses, or if not, who is going to pay the difference P Can any one explain that to me
Mr. STOKES-I think you ought to have thought of that before.
The CHAIRMAN That is what I want to
June twenty-six new books printed in Hong-meeting we had to appoint a gentleman / know. I want to know what the liquidator gets
Kong and forwarded by the Government, together with a copy of Dr. Doberck's observa tions and researches for 1895 and a few other works, were added to the shelves. The number of readers during the year was 3,725 compared with 3,260 in 1895-1896. As in former years, the proprietors of the local newspapers have to be thanked for supplying their journals free for the use of those frequenting the Library.
THE MUSEUM,
* Two slow lemurs were presented by the Hon. Mr. Belilios, a fine specimen of a Hongkong python was given by Inspector Duncan, and two cobras captured at the Peak were added to the collection, as well as several birds shot by local sportemen. The following have to be thanked for their contributions-Hoa. E. R. Belilios, Captain G. C.** Anderson, Miss Leiria, Mrs. Vernon, Messrs Botelho, Brunner, Bryant. Cattaneo, Chan Cheuk Sin, Drary, Duncan, Lan A Yau, Lan Joy Fong, Leung Tit Shau, Mok Ting Kam, G. H. Potts, D. R. Sassoon, JM, A. Silva, Wing Cheoug, and Zockowski. The visitors to the Museum during the year “numberød 109,027, of whom 8,029 "were non- ¿Chinese.
ACCOUNTS.
The balance in the hands of the Honorary urer on the 30th June, 1896, was $1,647.14
I do not think he is here now-we had to appoint a gentleman to go over the books, and I understand by the meaning of word "liquidator" that he has to really and truly liquidate the whole business, that is, he has to go thoroughly through the books. We ap- pointed a gentleman and he went through the books and confirmed the statement of our last accounts and really and truly I would like to know what we are going to pay this $500 for. I as a shareholder strongly object to it. Of course I could, understand it if there was any difficulty in the firm, that is, in the winding up of the concern, as then I should be only too pleased to vote for the sum. It is not in regard to the gentleman who has been appointed-I have nothing to say against him; but this is a matter of dollars and I want to get as many dollars as. I can out of the con- the liquidator has got to do. We have a mana- cern. In the first place I want to know what ger here and the thing is a good going concern. What has the liquidator got to do? He has only got to sigu cheques; we as directors have been doing that all along. Of course it is for the shareholders to say whether this. $500 is to be spent. I think it is foolish to spend it and I protest against it strongly.
meeting and carried that he should get the Mr. STOKES-It was proposed at the last
money, Ithink that was the time to make those remarks. At the previous meeting you ought to have objected to the $500 being paid; now we have agreed to pay the money.
The CAAIRMAN-The thing is not confirmed. We are met here to confirm this resolution.
Mr. STOKES-For the winding up. He was appointed auditor, or liquidator.
A
from the following account of re- disbursements. As mentioned above, expense has been incurred in re- this will reduce the credit balance, but there is a sum of $11,576.25 on fixed deposit. Hongkong and Shanghai Bank to the edit of the City Hall upon which the Com. mittee could draw should it become necessary, To balance in hands of, the Hon. Treasurer on
The CHAIRMAN That is what I want to 30th June, 1805, an shown in last report $2,795.89
know. We had the auditor and appointed from Thontre, St. Andrew's Hall,
5,132,09 him as the gentleman to go over the books 600.00 and he has given a true statement of the 1,200.00 books. What is he going to do now? Tell me
that. Can anyone tell me that P
Chamber of Commerce
at Grant for 1896:
rest on current account in Hongkong and Bank to 30th June, 1896 .......
light
790.88
#
eng
this $500 for.
Mr. MAITLAND-I have an offer for the business for which I am fully entitled to a com- mission. I am not asking the Company for c commission in this matter; it would come to deal more than $500. I take it that is by no means a big fee for the liquidation of this Com- pany. The offer I have made is in two forms and if the offer of a lump sum is accepted it will mean a long business for the liquidator and I should not be prepared to accept the office for the small fee of $500. If, on the other hand, the offer of so much per share is accepted by the shareholders, then the liquidation will not be a very big affair: In any case I think £500 is a very reasonable sum.
The CHAIRMAN-Supposing the business 15 transferred to another Company, who is going to pay for it?
Mr. MAITLAND—The purchasers' solicitors will draw up the deed of assignment and the shareholders will have to pay the Company's solicitors for perusing and seeing; that every- thing is proper.
་
· The ÕHAIRMAN—I am sorry you have brought this subject up, that you have an offer of money. As the liquidator, truly I think you ought to be the last to bring the subject up. You ought to be acting on behalf of the share- holders and not on behalf of yourself.
Mr. MAITLANDI am not doing anyt of the kind, sir. I am doing my_best_i shareholders. My dear sir, at moment I am representing nearly Company:ondon of 11,000
With regard to holders in
reply is that I am to accep I knew I was going to be a
The CHAIRMAN shareholders to be. should not be appoin ing so many shares
Mr. STOKES-
to appoint à liquidator.
quite
The CHAIRMAN That What I want to know is what do for the $500;
Mr. STOKES –– Reallya The CHAIRHA
and what more
50.38. Mr. STOKES He brought the proposal to us for the winding up and it was expected- $9,828,86
The CHAIRMAN Maskee. That was pro- 48.00 | posed at the time and I certainly protest 1,800.00 the $500 being spent. There is another thing, form. They have
795.71 gentlemen, that I will put before you. The advertisement of, this meeting has been 236.52 one days in the Press, There was no occasion 480.31
for that. We shall have to pay $25 for
be liquid 701.00
79.00 whereas 87 would have done it. Why should that bo 47.14 money belonging to the Company have
spent P
I want to get as many dollars cents as I can out of it.
-So do I.