THE HONGR
TIEREESTAND
ompan
onld be the policy of an
CHINA AND MANILA STEAMSHIP
CO
LIMITED.
mary general meeting of
and Manila Steam
was held on the 22nd March, ices of the General Managers, Tomes and Co. Mr. C. A. presided and there were also present
MD. Ezekiel, D Gillies, N. A. Biebs, (Consulting Committee), C. P. Karberg (Secre
y), G. Potta, J. H. Jorge, J. H. Cox, and
Wa-chuen,
F
Greens held on
of the General Manag
& Co. Mr. C. A. Tomes Ao
(Consulting Committee) F. JV (Secretary), D. Gillies, R. C Wilco Cox G. H. Potts, Hart Buck, Wong Hing Loung, Pu Chee, Fung Wa Chuen, and M. Michael.
The SECRETARY read the notice calling the meeting,
it
The CHAIRMAN – Gentlemen, with your mission we shall omit the reading of the The accounts show clearly and accurat position of the Company, but a few words detail about some of the items may be acce IEMAN-Gentlemen, as the reportable to you. The expenditure on new machine unts-have-
been before you some days for 1896 is $6,552.09, of this sum the greater not occupy your time with reading portion was absorbed by a tubular mill of a new ou will no doubt be pleased at receiving pattern which not only grinds the cement finer htly larger dividend than last year. On and better but does a larger amount of work at revious occasions only has this dividend a lower cost than formerly The sale of old xceeded in the whole history of the machinery represents the proceeds of a boiler any and taking freights as they have no longer required at Macao. On the generally in the past twelve months, we Schofer in there had only been expended hink we should feel satisfied. The boats have to December 31st last $9,488:35, but before wallTM kept up and are as efficient as ever it is completed the cost, by the estimate were, their increasing age, however, of the
Macao manager, I may run to demanding, a generous sum for deprecia between $15,000 and $20,000, and we have ton. On looking back over the accounts thought it prudent to recommend that $5,000 To find that since the Zafiro was purchased be written off. It would have been more so. after her accident on the coast in 1885 curate perhaps to have worded the recommends- he has been written down at the rate of tion differently and said set aside for writing $5,400 only per annum and the Esmeralda since off. I make that remark because I saw in her arrival in 1891 at only $9,000 per annum, paper a comment about $35,000 having been off, amounts as nearly as possible representing 5 per whereas it is only $5,000. The Managers make cents on the first cost of each. This cannot be no secret of the fact that the building of this called an excessive provision for depreciation, kiln is more or less of an experiment and may although of course we must not forget that the possibly never realize the expectations held re- of the Mexican dollar is not what it was garding it. If, however, it can be worked suc- when these, steamers were built. The out-cessfully or even partially successfully, it will anding freights, under the head of sundry show such an important economy and so tors account, have been practically all simplify the process of cement burning by lected since December 31st, last. The abolishing the troublesome use of cake, the General Managers, with the consent of the supply of which is always precarious, that Committee, have at different times in the the management would think itself delinquent past year invested spare funds in shares in its regard for the future welfare of the Com: some of the local companies. The amount pany and in its plain duty did it not assume so invested stands at $41,400, and it is not in this responsibility of risk of failure and expend tended to increase this, at any rate for the the sum as before stated the kiln is likely to present. The subjects of quarantine and the cost. All the precautions that could suggest Philippine insurrection. are alluded to in the themselves to the General Managers to assure report and I have nothing further to add to success have been taken. A full description of what is said there except that a short quaran- our climate and the local atmospheric condi- tine has just been re-imposed on account of the tions of Macao have been laid before the in- lague in India and the steamers are required ventors and owners as the Schofer kiln and the carry doctors. Earnings for this year are different species of coal we expect to employ so good as those for the same period have been sent home for analysis and test, and last year, but there are signs of improvement, everyone of the three foreigners in Macao, Before moving the adoption of the report and the superintendent, the chief engineer, and the foreman burner, have personally seen a Schofer kiln regularly at work in Europe and studied its methods. They do not expect a full and entire success at first, but it is not too, much to say are sanguine of the ultimate issue Complete and detailed plans have been received Cox proposed the re-election of the from the sole owners of the secret of its con
Consulting Committee, Messrs. Siebs,struction and from the same source are to come Gillies, Ezekiel, and Tomes.
the iron-work and special bricks necessary. Mr. JORGE seconded.
The structure when finished will be a rather Carried
complicated and elaborate affair. Its principal feature and recommendation is its capability of | being kept continually burning, that is, except by accident or for repairs, the fire is never allowed to go out, the heat wasted is small, the cement bricks being fed in near the top, the coal somewhat lower whole after combustion coming bottom in the form only requiring to be grou ready for use.
nts I shall be very pleased to answer any estions which shareholders may wish to put."
here were no questions and the CHAIEMAN the adoption of the report and accounts. POTTS seconded.
Carried.
JUNG WA CHUEN proposed the re-eleo
sara. J. H. Cox and T. Arnold as
OTTS seconded.
TEMAN—That is; all, the business, Dividend warrants will be issued
publishes a dis.
5th March, uneasiness felt. at Seoul concern
:.
cement in sto
year's supply
nt of our
mestone, gentle
the W
ma
read
fon:
exc
and- Cement; Co.yin
onclu
ou to inqu
the present plant
take a greater output the General Managers have
ension. This matter is having t consideration of the Committee
Schofer
to
Managers, and they are alive importance, but we think it best to any action until the had an opportunity of showing degree of success it can be Company is in a superior posi sion from the experience it has gain inside knowledge of the work and i ties, and we think it safe to say could be laid down to-day in this world at the present rate of ex the work done at Macao at any value your property stands at in the Before closing, I should like to read General Managers appreciation of the - and intelligent assistance rendered by the s at Macao and that to them in no little. is due the credit for the improved posit this Company. Before moving the adopti of the report and accounts I shall be glad to answer any questions, una neht
Mr. GILLIES Before seconding the adoption of the report I would like you to give us some information of the Schofer kiln that has been introduced: I presume this is to take the place of the Hoffmann kiln that was er the works some years ago. That kiln, to the best of my knowledge, was supposed to be the best in the manufacture of cemen very great results were expected from i ever, after that kiln was completed the cal results were, I believe, very unsa and the kiln had to be abandoned. I hope General Managers have taken the care to look into this question of the before they adopted it. For my own. know nothing about the kiln, but I p that you have information that warran undertaking such a large texpense. W had a very costly experience of the Hof kiln, and I hope that will not be the cas the Schofer kiln.There is no doubt that great economy in time and mo be obtained in getting the best, kiln in the market for the burning of the but I hope the success of the Sob rests on better, evidence than one obtains from the a being circulated in regard toɑthese If, Mr. Ch man, you will kindly let
to kno
vertisement:
înt
with
We
Fie
provide oursel
The stock on 31st December represent
rke