[February 19, 1898.
vernment Loan, 1886 $ 37,966.09
128
Directors recommend them for re-election.
J. J. BELL-IRVING, Chairman. Hongkong, 14th February, 1898.
Dr.
BALANCE SHEET, 31ST DECEMBER, 1897.
LIABILITIES,
To capital (20,000 shares at$50 fully paid-up) 1,000,000.00 To Hongkong and Shanghai
Banking Corporation ........ ..$141,113.37
THE HONGKONG WEEKLY PRESS AND
Cr.
By balance from last account
By bonus for 1895, fire insurance account By transfer from working account 1897
o.
Investments,-
10,119.41 15:31 126,445.28
Chinse Imperial Go-
Hongkong and Kow-
$136,715.00
Godown Company,
DEPRECIATION, AND REPAIRS ACCOUNT. Dr.
$ 0.
¿
0.
To debentures outstanding.
500,000.00
To repairs, renewals and improvements dur-
To sundry creditors...
64,052.0J
ing 1897
705,165.37
To balance
31,8:4.85 56,315,85
To depreciation and repairs account...
To dividend account (unclaimed balance) To profit and loss account, balance
50,315.85
813.7
$88,130.70
9,808.51
Cr.
By balance from 1886 ... $1,772,103.48 By transfer from profit and loss account
$ 0 73,130.70 15,000.00
A88ETS.
$ 0.
By value of land and buildings
$ 0,
$88,130.70
By since expended on row
-houses, &c..
16,977.38
Cr.
at Kowloon as per last account 1,219,473.19
By value of 4 wharves at Kowloon 1,236,450.57 THE HONGKONG FIRE INSURANCE
By value of rolling stock at Kowloon
By value of lunches Kowloon,
100,000.00 22,000.00
Hongkong, and Heron ps per
last account ........
12,000.00
Since expended on new tugs.
12,625.00
$24,626.00
Less written off
1,625.00
By value of lighters as per last
account
$30,500.00
,300.00
$36,200.00 2,200.00
Less book. value of 3 lighters
condemned
Less written off
By value of West Point Reclamation (44,435 * ↑
square feet at 4}
23,000 00
34,000.00
177,740.00
By West Point Godown as per last
account
¿9,399.51
Less proceeds of sale of iron toof
2,829.00
{6,570,5!
Less written off
6,570.51
By new West Point godowns BA
per last account
Since expended on new godowns
$37,742.03
21,271.61
By value of West Point Wharf
Less written off
15,000 00 4,000.00
'By value of sheers
11,000.00 500.00
By value of furniture and plant
as per last account
8,500,00
Since expended on new water
service
3,083.93
By Sui Lock Hing (mortgage).
By sundry debtors
By cash in hand
lly value of timber, iron and stores on hand
WORKING ACCOUNT.
Dr.
0.
CO., LIMITED.
The following is the report for presentation to the shareholders at the twenty-ninth ordinary general meeting, to be held at the offices of the general managers, on Monday, 28th February, at 12.30 p.m. :—
The General Managers and Consulting Com. mittee have pleasure in laying before the share- holders the twenty-ninth annual report of the Company.
loon Wharf and
Ltd., Debentures F'kong High-Level Tramway Company Ld., Debentures
Shanghai and Hong-
kew Wharf Com-
pany, Limited, De-
bentures
Shanghai Land Invest- nient Company Ld, Debentures
.
200 shares in the
Hongkong Land In- vestment Co., Ltd.,
5 shares in the China Fire Insurance Co., Limited
Steam fire engines Accounts receivable
60,000,00
11,500.00
62,608.70
27,586.20
!
13,000.00
375.00
218,035.99
500.00 162,783.94
$1,990,222.79
WORKING ACCOUNT, 1896.
...$ 45,094.37
To losses and claims paid... To return premia and re-insurances To remuneration to Consulting Committee
and auditors
To steam fire engines, amount written off To balance as above.
1896 Account.-This account, which is now finally closed, shows a profit $250,757.63, which sum, with the approval of the Consulting Com. mittee, it is proposed to deal with as follows
Bonus to contributing shareholders $13,681.87 By balance from last account........
Addition to Reserve Fund
Dividend of $261 per share
25,075.76
2:2,000.00
$260,757.03
1,465.76
6,500.00 1,000.00 250,757.63
$304,817.76
..$304,817.76
$304,817.76
WORKING ACCOUNT, 1897.
...............
62,618.58
23,734.77
32,436.60
603.77
426.70 288,875.16
$408,695.58
.$303,315.33 105,236.25 144.00
$408,695.58
By Hongkong Bank (uaclaimed dividend
account)
By value of coal on band
1897 Account. The balance at credit of this account is $288,875,16.
Mortgages. The General Managers and 59,013.64 Consulting Committee are satisfied, from the valuations made by the Company's surveyors in Hongkong, Shanghai, and Yokohama, that the properties held by the Company are good for the advances made.
10.00 53,851.25 813.75 732.13
Consulting Committee.-Mr. M. D. Ezekiel having left the colony, Mr. A. J. Raymond was nominated to the vacant seat, and his ap- 9,583.93 pointment requires to be confirmed. The present members, Messrs. Chater, Lewis, Ross, Maitland, and Raymond, retire, but offer themselves for re-election.
Auditors. The accounts have been audited 2,114.06 by Messrs Fullerton Henderson and W. Hatton 31,304.15 Potts, the latter gentleman taking the place of Mr. A. Coxon, who has left the colony; and $1,772,103.48 their re-election is recommended.
$ 76,872.62
To wages of permanent staff
To charges (office and telephone rent, station-
To Crown rent
To taxes
To expenses on cargo and coal, coolis hire, &o. 150,948.51.
JARDINE, MATHESON CO., General Managers, Hongkong, 14th February, 1898.
BALANCE SHEET, 31ST DECEMBER, 1897.
To charges..... To losses and claims paid
To commissions
To exchange..
To fire brigade expenses To balance as above..
By met premia received, less returns and
re-insurances..
By interest By transfer fees
THE CHINA FIRE INSURANCE CO., LIMITED.
The following is the report for presentation to the shareholders at the twenty-ninth ordinary meeting, to be held at the Company's Offices on Monday, the 28th February, at noon :-
The Directors have the pleasure to present their annual report) and statement of the Com- pany's accounts made up to 31st December last.
1896. The balance at
credit of working account as per last report was
Add premia since re-
8,948.3
11,272.18
ery and printing, collecting commission, sundries, &c.
10,304,92
Dr.
LIABILITIES,
To legal expenses
1,080.80
Capital subscribed
$2,000,000.00
To fire insurance
2,668.28
To claims on cargo..
2,801.14
Amount paid-up
Reserve fund
$ 400,000.00 1,021,688.00
To expenses of lighters
2,500.9
Uncollected dividends
3,047.78
To expenses of launches
6,009,83
Accounts payable
$267,164.11
25,854.22
To balance to profit and loss account
126,445.28
Working accoun', 1896,-
ceived
Net profit
3,723.14
250,757.63
(398,749.06
Working account, 1897,—
-$270,887,25
Cr.
$
By wharfage, storing, landing, &o,
398,749.95
Amount brought forward from
below
Deduct claims paid in
288,875.16
1897.
...$ 7,604.42 Deduct return premia $3,829.38
¿
$398,749.95
$1,090,222.79
10,933.80.
PROFIT AND Loss AccouNT.
To interest
Dr.
To interim dividend
To loss on sale of 3 lighters...
$
0.
Cr.
ASSETS.
35,211.51
25,000
275.00
To account 1896, debts written off
To balance appropriated as follows:-
Directors' and auditors' fees.
524.47
$ 6,500.00
Final dividend
3,001.0
Hongkong and Shang-
Transfer to depreciation and re-
pairs account...
15,000.00
Amount written off launches
1,625.00
Amount written off lighters..
2,200.0Ų
Amount written off West Point
**
wharf
4,000.00
Amount written off West Point
godown
6,570.51
Amount carried to new account
9,808 51
75,704.02
$136,715.00
Cash, on current account with Hong- kong and Shanghai Banking Cor- poration
Cash in hands of General Managers... Fixed deposits,
hai Banking Cp'tion $100,000.00 Chartd. Bk. of India,
Aust. and China Mercantile Bank of
India, Limited
Mortgages,--
In Hongkong In Shanghai In Yokohama
50,000.00
50,000.00
.$1,033,500.00 350,775.21 25,725.39
Balance of profit...
The directors propose that this amount be apportioned as follows: $133,000 as dividend for 1,817.02 the year, being at the rate of $6.65 per share; 2,085.24 $13,803.45 as bonus to contributors of premia entitled thereto; and $113,150 tofreserve fund, thereby increasing the same to one million dollars, which they trust may be approved.
1897.-The balance at the credit of working account at the close of this year was $237,802.90, which, although less than that of the preceding 200,000.00 year, your directors cannot but deem satisfactory, as the loss ratio of 1896 was exceptionally light. DIRECTORS.
Messrs. A McConachie, D. R. Sassoon and S. C. Michaelsen have resigned during the year, 1,410,000.00 and Messrs. G. Slade, D. Gubbay and 4. Haupt
$259,953,45