THE HONGKONG
rear being Hk
ings)
JES:
the foreign import of bullion, is cal
the same, way as in the report for
Deduct opium duty
rts, market value
Hk Tls. 202,589,994
mport duty
6,199,673 5,389,669
less duty, &c. Deduct 7 per cent. for charge, &c......... Imports, value at moment of landing...
11,589,342
191,000,652 18,870,046 177,630,606
Hk. T
Exports to foreign countries, market
...... 131,081,421 Add duty estimated at ........ 5,361,156 Add per cent on market value for
10,485,514 chargea Exports, value at moment of shipment. 146,929,091
H. KOPSCH, Statistical Secretary. Shanghai, 20th March, 1897..
were
STRAITS INSURANCE CO., LIMITED.
The twentieth ordinary general meeting of the Straits Insurance Company was held at the offices of the Company, Singapore, on the 25th March, to receive the annual report of the Directors for the year ended December 31st, 1896. Mr. T. C. Bogaardt, Chairman of the Directors, presided, and among those present Messrs. T. Scott Thomson (Deputy Chairman), D. W. Lovell, A. W. Stiven, and the Hon. GS. Murray (Directors), A. 8. Murray (Secretary), H. Fort (Legal Adviser) Fyall and R. Danman (Auditors), A Gentle, D. C. Neave, H. Abrams, Ezra, A. B. Catto, G. Pertile, A.-C. Moses, Loh Yap Seng, Wan Eng Keat, Ong Tiang Soon, Tong Teck, Soh Hong Chuan, shareholders. Shares to the number of 8,459 were represented.
The
$53,267 securities on
n the value
Company, and
me of thes mber's last w in the
valus
Fecuriti
yielding interest
"dividends?
Mr. G
nables the For het
competition may lead to
ROYAL HONGKONG YACHT CLUB
On the 28th March the boats of both classes
ndly pre Engineers, tion owes so mu
esent invested, and are serve for equaliz cumulated in more prosperous years, directors to recommend the payment of dend to shareholders at the rate of 5 per cent per annum for the year 1896: Ample provision has been made for the loss on 1895 account, and the balance of the 1896 underwriting account carried forward intact. Since the publication of the report the directors have received notice competed in of the resignation from the Board of PC: Hoynek van Papendrecht, who has left for Eu- rope, and they have arranged to fill the vacancy by appointing Mr. W. Naef, who is now the chief representative of the same firm in Singa pore, who are valued clients of the Company Before formally moving the adoption of the report I shall be glad to answer any questions and to give any further information desired. I beg to move that the report and accounts as printed be adopted, and that a dividend at the rate of 5 per cent. per annum be declared pay- able for the year 1896.
Mr. Neave seconded and it was carried. The Chairman announced that the next business was the re-election or otherwise of the retiring Directors, Mr. T. Scott Thomson and Mr. D. W. Lovell.
Mr. Gentle moved the re-election of Messrs. Thomson and Lovell. He had ascertained by inquiring from the Chairman that the number of Directors must not be more than nine or less than five. There were at present, he be- lieved, seven, and, since the report was drawn up, Mr. Thomson had made up his mind to go home to Europe for a short time.
He (Mr. Gentle) did not think that need interfere with Mr. Thomson's services on the Board. He believed Mr. Thomson's absence would be of short duration, not exceeding six months. He trusted, therefore, that the shareholders would adopt the suggestion made in the report. and re-elect Messrs. Thomson and Lovell. He questioned very much whether they could get a gentleman of more experience and longer knowledge of the Company than Mr. Thomson, and he thought that the short time Mr. Thomson would be away need not
The Chairman said Gentlemen, the thir- teenth annual report and balance sheet of the Company has been before you for some time past, and, if there is no objection, we will take it as read. At our meeting a year ago I told you that the year 1895 had not been a favour-interfere with his re-election. able one for marine insurance companies generally, and, as this report shows,. the out- come, so far as the Straits Company is con- cerned, has been very much worse even than we had any reason then to anticipate. Our business in Singapore, from which we almost invariably derive a profit, yielded a considerable loss, owing to the wrecking of the fine steamers Rajah Brooke, Poh Hin Guan, and others. The London account, however, is mainly re- sponsible for this unfavourable balance sheet, partly due to the failure of a syndicate with hom a very considerable amount of our insurances were placed, and partly because xceptionally heavy losses from which we, in common with all other offices, have suffered. But for what may be termed exceptional losses
Mr. Ezra seconded the motion, and it was carried unanimously.
On the motion of Mr. Ezra, seconded by Mr. Abrams, the auditors were re-elected.
We
uld have been able to show a profit on the 1895 underwriting account, and we have con steps to prevent any recurrence of loss of re-insurers. Since the secre- England, we have arranged to our business in the United stition has brought rates
was
here.001
The Chairman announced that that concluded the business. Dividend warrants would be ready to-morrow.
Mr. Abrams moved a vote of thanks to the Chairman, the directors, and. the staff; Mr. Bogaardt acknowledging the compliment.
The meeting then dispersed,
HONGKONG GOLF CLUB.
CAPTAIN'S Cup:
The competition for the final ownership of Captain's Cup" presented in 1896 by the Captain R. Murray Rumsey, R.N., has been in progress during the past fortnight and was concluded on the 4th instant, the final being won by Mr. M. Stewart, who, rather contrary to expectation, somewhat easily defeated his opponent, who was certainly out of his usual form, by 6 up and 5 to play.
Result of the competition
by
1st Round Mr. Badeley (12) beat Mr. Hume (3) by 7 up and 5 to play; remainder by
umness to a non-paying the beginning of the year we rance, arrangements with a hat will still further reduce in London, and our agency fostered and extended in every ay tell you further in 0count that the worst has held back and there is that the whole sum of close the account may
The 189
(6) account
en lar
There was a light ing at times during. strength, but falling
the
coit Augur
breeze
Aine race on Phoebe, who finished third time in succession. The
on this occasion was receiving time and sayed her allowance by one minute.
at
The course was from the starting Kowloon Point, round the Channel North Fairway buoy, and Cosmopolitan buoy, leaving all to starboard, 12 miles
allow
Handicap: Erica and Maid Marian Phoebe 2 minutes, Chanticleer and Meteor 8
minutes, She
minutes, Active
Dart, and Ladybird 11 minutes. The times passing pier were
Erica
12
Phoebe
12
Maid Marian
12
Meteor
12
Ladybird
12
31
Chanticleer
12
32
Princess
12
Active Dart
12
1234
12
84
FINISH.
Erica.
She
Phoebe Meteor Chanticleer
She
·Dart Ladybird Active
14615 49 44
1325
12 €33
14
15 26 174
218
Rest did not oross line.
The Phoebe thus won and took the cup, this
being the third cup presented by the Royal Engineers that her fortunate owner has succeeded in annexing.
The eleventh Club race was sailed on Sunday last in a strong north-easterly breeze, and one of the finest struggles of the season was wit nessed between the two hard weather cracks Maid Marian and Chanticleer.
The course was as follows From Police
star Pier Kowloon leave No. 1 Dook buoy board, round mark boat off Sowkewan, mark boat off Sowkewan. Dock bugy starboard and in, 14 miles
Only five boats in the Championshi Maid Marian, Chanticleer, Brica, P Meteor, and three in the second class,
In the Championship class the Erica going very well soon forged ahead, and led round Maid the Dock buoy closel Marian with Chanticle
far behind.
Qu
2nd Round.
nd Mr. Badeley (12) beat Mr. G. Stewart (3) by I hole. Mr. May (6) beat Mr. Dalrymple (8) by 4 up and 2 to play Mr. Robertson (15) ▼ beat Mr. Tomes (11) by 7 up and 6 to play. Mr. M. Stewart (15), beat Rev. G. R. Vallings (8) by 7 up and 5 to play. ***
3rd Round. Mr. Badeley (12) beat Mr. May
20th hole. Mr. M. Stewart (15) beat | dist
(15) by 1 hole
Stick and Mr M Stewart (15) bent Mr. No I Badeley (12) by 6 up and 5 to play
BEST SCORE CUP FOR FEBR
Only twenty-four entries
lefice
MARCH
1 dary
Off
pursued
cout Bay
timest
hird place
the
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