THE HONGKONG WEEKLY PRESS AND
150
To amount paid on account of new sea wall and reclamation during past six months To amount paid on account of extension to European quar- ters during past six months To amount paid on account of
building boundary wall
8,647.88
2,920.00
£00.00
****
To cost of new machines added
during last six months..
5,531.59
287,599.47
Tug, Launches, and Lighters.
To value of Fame as per last account.........
1,000.00
To value of 12 steam" launches,
steam lighter and boats, as per last account.
30,000.00
To cost of new harbour launch,
K. No. 7, and of launches K. No. 5 and A. No. 1
25,633.12
To Humphreys' Estate and Finance Company
6 per cent, mortgage debentures ..
*65,633.12 100,000:00
To 5 shares, China Fire Insurance Company,
Limited...
To Hongkong and Shanghai Bank, cash on
current account
To sundry debtors
To cost of material on hand
80th June, 1897.
LIABILITIES.
109.00 51,431.23 99,112.21 947,1.09.10
$2,706,481.21
By shareholders for 12,500 shares of $125
each fully paid up
By reserve fund
By admiralty loan... £20,000 0 0 Less repayments... 7,565 14 8
By gundry creditors By balance of profit brought for-
ward from last account By profit
$ 104,104.71 325,345.88
30th June, 1897.
3.
$
1,562,500.00 600,000.00
£12,434 54 @ 1/113 125,651.54
-48,879.08
REVENUE ACCOUNT.
To cost of labour, material, and working *X- penses of the Company's 3 establishments. To amount paid during six months on account
of reconstruction of No. I slip
on account of bad debts and refunds) as com- pared with $22,024.45 at credit of the account on the 30th June, 1896, and $5,668.38 at credit on 30th June, 1895.
The directors propose, with your sanction, to deal with the balance of $31,791,70 as follows:-
To pay a dividend of 3 per cent.
for the half-year, absorbing $13,318.50 To write off from value of fur-
niture and fixtures...
5,000.00 To carry forward to new account 13,473,20
$31,791.70
The Directors think it prudent to carry forward the above substantial sum of $13,473.20 in view of the fact that the profits of the latter half of the year have in past years invariably fallen short of the profits for the six months ending. 30th June.
BUSINESS.
The increase in the profits for the past half- year has been mainly due to economies effected, and, in a minor degree, to a longer season for visitors..
The bar business has latterly increased owing to the improvements effected in that department and the acquisition of the refrigerator, which has been in successful operation for the past four months. The improvement, however, still falls far short of what may be hopod for when Pedder's Wharf is reconstructed, and the land- ing traffic, so long diverted, is again brought back into its accustomed channel.
DIRECTORS.
+
Messrs R. C. Wilcox and W. Parfitt retire 429,450.59 by rotation, but offer themselves for re-election.
$2,768,481.21
$' ci 877,950.00
AUDIT.
The accounts have been audited by Messrs. W. H. Potts and W. H. Gaskell, whose re- election is recommended.
R. CHATTERTON WILCOX, Chairman. Hongkong, 12th August, 1897.
BALANCE SHEET, 30TH JUNE, 1897.
LIABILITIES.
8,879 shares at $50 each (fully paid-up) Mortgage to Hongkong Land Investment,
C.
443,950.00
20,572.00
To Grown rent
1,784.51
To interest
*480.96
To fire insurance
1,645.06
To office expenses, salaries, stationery, and
Capital
*. rent of head office
21,607.01
To drawing office expenses and salaries ...... To telegrams
3,519.63
479.28
and Agency Co., Limited
To legal expenses.
150.00
Accounts payable
To admiralty 'loan exchange adjustment ac.
count.
Repairs and renewals account
213.99
Profit and loss account.
To subscription to Indian Famine Fund.. To subscription to Diamond Jubilee Fund To profit
500.00
1,000.00
325,345.88
ASSETS.
$
$1,255,248.30
Value of land and buildings as per last report:-
Marine lot No. 5, and remaining
$ C.
1,250,185.23 4,322.81
lot No. 7
409,157.26
Praya reclamation
18,036.42
119.00
621.26
Value of furniture and fixtures
as per last report
$74,936.95
$1,255,248.30
Less written off as recommended
in last report... ..
Since added
5,000.00
$69,936.97 11,926.75
1st January to 30th June.
By gross earnings of the Company's three
establishments
By towage net earnings,
By transfer fees
By bonus on premia, &c
THE HONGKONG HOTEL CO., LIMITED.
The following is the report of the directors to be presented at the ordinary meeting of shareholders, to be held at the Company's Hotel, at noon on Saturday, 21st August:
In accordance with section 33 of the Articles of Association, the directors have now the pleasure to submit to the shareholders their half-yearly report for the six months ending 30th June, 1897.
ACCOUNTS.
The profit on working account for the half- year amounted to $48,644,39, as compared with $15,489.52 for the corresponding six months of 1896, being an increase of $13,154.87, or of $29,433.34 over the net profits on the working account for the same period of 1895.
Including a balance of $447.38 brought for. ward from 31st December, 1896, the loss account shows credit profit and balance of $31,791.70 (after transferring from
$6,000 to credit of repairs and renewals account and writing off $378.68
8
portion of marine lot No. 3...$412,523.04 Remaining portion of marine
Stock of wines, provisions, and household sun-
dries Steam launch.
Cash in hand
Shares in public companies... Licences attaching to second half, 1897 Fire insurance to second half, 1897 Hongkong and Shanghai Banking Corpora-
tion Accounts receivable Stationery on hand
0.
838,716.72
Cŕ.
By balance from 31st Dec., 1896.. By less amount written off
furniture and fixtures account
By less amount transferred to repairs and renewals account (as recommended in last report)
August 18, 1897.
$5,000.00
$7,447.38
2,000.00
7,000.00
By rents of shops and offices By dividends on shares
447.38 10,527.00
313.68
48,644.39
$59,932.45
By profit on hotel working account for six
months ending 30th June, 1897.
REPAIRS AND RENEWALS ACCOUNT. To payments on account of repairs and re- newals during the half year ended 30th June, 1897. To Balance...
By transfer from profit and loss necount as By transfer from profit and loss account dur- ing the half year ended 30th June, 197 By refunds.
recommended in last report
LI HUNG-TSA O.
$ C.
5,769.65 2,315.52
38,085.17
$ 0. 2,000.00
6,000.00
85.17
$8,085.17
The Rev. Gilbert Reid writos to the N. C. Daily News as follows:-
The announcement of the death of the aged official in Peking, Li Hung-ts 10, brings even to He was one of me, a foreigner, a sense of loss. the few officials in Peking for whom I have
had both admiration and affection. A man simple in his habits. unaffected and old- fashioned, he was a true Chinese patriot, ster- ling in his character, an official of integrity, in so far as the Chinese methods will al- low. Few officials in Peking will be more sincerely missed than this one who has entered Dur. the bark and sailed over the river.
ing the war, Li Hung-tsao and Wêng Tung-ho were the special opponents of Li Hung-chang, and together they worked to get hold of the head of the First Grand Secre- tary, stubbornly remaining in Tientsin. Not- 500,000.00
withstanding this fact, there was, at least in the 18,758.09
case of Li Hung-tsao, the exhibition of conscien- 2,315.52 31,791.70 tious conviction pleasant to see amid the official corruption of this vast empire. Knowing of this $996,815.31 | rivalry, I bave frequently in conversation with Li Hung-chang, and especially to conuter-balance his teasing or chaffing, praised the character of Li Hung-tsao and boldly declared him a personal friend. For nearly forty years' has this man been an official in Peking, and as Wêng T'ung-ho is noted as Tutor of the present Emperor, so has he been known as the Tutor of the Emperor Tung Chih. Among the younger men he has had, from his literary abilities, a large following. He was a Chinese scholar of the old school. His reputation there- fore has been as leader of the conservative pro- Chinese party. If such was his position he was actuated by love of his own country and a sunse 81,863.72 of duty.
Naturally, he was inclined for many 17,213.03 years to look on progressive men as next door
2,500.00
to being traitors. Anyway he was a good man, 124.28 respected by the best men. Within the last 7,019.19
year or two he has felt deeply the sad condition in 312.00
which China is placed, ber awful decline from 1,439.45
past glory and security, and in looking around for a remedy he has more and more favoured 36,895.93
9,093.67 measures of progress and Western ideas. At 1,637.32 the same time he has felt far from friendly towards the foreigner, regarding the present decline as largely due to the arrival of the foreigner from all the strong nations of the world. He longed for the good old days, when China dwelt apart-her own constellation. It was during the war that I made the acquaint- ance of this sterling old official... Owing to the 378.68 necessity of his appearing daily at Court, as 2,840.50 member of the Cabinet, he seldom stopped at his 15,465.67
own house in the southern city, but occupied a 1,440.00
few rooms behind a small shop just outside the 365.90
east gate of the Forbidden City. Twice I met 6,000.00 31,791.70 him at this place, and each time he went to the trouble of dressing himself in his full robes, $59,932.45|| and, when I left, of escorting me clear through the court and the shop to where my cart was
$996,815.31
PROFIT AND Loss ACCOUNT, FOR THE SIX MONTHS ENDING 30TH JUNE, 1897.
Dr.
$ C. 1,650.00
To directors' and auditors' fees
To bad debts and refunds attaching to 1896-
1897
To rates and taxes.
To interest account
To fire insurance
To Crown rent
To repairs and renewals account To balance..
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