February 19, 1898]
were invited to fill the seats of these gentlemen. These appointments will require to be confirmed. It is with great regret that the board have to announce the decease of Mr. Slade last November. Messrs. Siebs and Dalrymple retire by rota- tion and offer themselves for re-election:
AUDITORS.
Messrs. J. H. Cox and W. Hutton Potts have audited the accounts now presented and offer themselves for re-election.
N. A. SIEBS,
Chairman.
BALANCE SHEET, 31ST DECEMBER,
LIABILITIES.
Capital account
Reserve fund
Accounts payable:-
Divided for 1898
Bo.us for 1896 and sundries...
$133,000.00 17,433.40
Balance at credit
Working account, 1897:—
Cash at bankers
ABJETS,
Fixed deposits at banks:-
Hongkong and Shanghai Bank-
ing Corporation
1897.
0
400,000.00 1,000 0.00
CHINA ONERLAND TRADE REPORT.
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 Monday next:-
In accordance with section 53 of the articles of association, the directors have now to submit to the shareholders their half-yearly report for the six months ending 31st December, 1897.
ACCOUNTS.
The profit on working account amounted for the six months to $30,448.65, as compared with $24,110.76 for the corresponding period of 1896, being an increase of $6,337.39.
The profit and loss account, including a credit balance of $13,473.20 brought forward from 150,433.46
30th June, 1897, shows a credit balance of $27,078.17, after transferring the usual sum of 237,802.90 86,000 to Repairs and Renewals Account as sanctioned by shareholders at the general meet- $1,788,236.36 ing on 27th February, 1897.
The directors propose to deal with the balance of $27,078.17 as follows:-
To pay a final dividend of 3 per cent.
for the half-year, absorbing........... To write off from value of furniture and
fixtures
$ 57,388.39
$195,808.08
Chartered Bank of I., A. & C
80,000.00
Mercantile Bank of India, Ld. National Bank of China, Id...
50,000.00
Do.
sleam launch
15,000.00
To carry forward to new account....
540,898.08
..$103,483.03
Hongkong Club debentures
100,000.00 50,000.00
Shanghai Land
Investment
Investments:-
Chinese Imperial Government
E. bonds
Hongkong and Kowloon Wharf
and. Godown Co., Limited, debentures
.$13,318.50
10,000.00 500.00 3,259.67
$27,078.17
Stock of wines, &c., provisions and house-
hold sundries...
Cash in hand
Shares in public companies Licences attaching to 1898 Fire insurance
do.
Hongkong & S'hai Banking Corporation Accounts receivable Hongkong and Shanghai Banking Cor-
poration No. 2 account ..
129
17,948.57
2,500.00
226.48
7,033.81
460.00
445.15
17,710.22
14,783.37
259.80
$1,010,223.20
PROFIT AND LOSS ACCOUNT, FOR THE SIX MONTHS
ENDING 31ST DECEMBER, 1897.
Dr.
To bad debts and refunds attaching to
1890-1897
To rates and taxes .............................. To interest account
To directors' and auditors' fees To fire insurance To Crown rent
To repairs and renewals account To balance to be appropriated as follows :-
Written off furniture and
fixtures Written off steam launch... Final dividend of 3 percent Carry forward to new account 3,253.67
Cr.
$10,000.00
500.00 13,318.50
C.
182,74 2,840.50
15,000,00
1,650.00
1,439.45
365.90 6,000.00
27,078.17
$54,556,76
$ c.
$31,791.70
Co., Limited, debentures 49,877.40
Shanghai and Hongkew Wharf
On properties in Hongkong...$859,400.00
Co., debentures
41,617.07
Shanghai Waterworks Co., Ld.,
debentures
8,472,22
353,449.79
Loan son mortgage :~~-
On properties in Shanghai,
90,146.45
On properties in Amoy
20,000.00
Inland lot No. 685---
Assigned by mortgagor
Hongkong Fire Insurance Co., Limited:-
Four shares
Furniture account:-
Office furniture, do.
969,546.45
20,000.00
522.00
560.00
Accounts receivable:--
Premia due from agencies, interest due on
, deposits and investments, o..
*
45,961.72
$1,788,236.36
WORKING ACCOUNT, 18T JANUARY 1o 31st December,
To charges account: -
1897. Dr.
}
Rent, salaries, legal, and sur-
veyors fees, taxes, stamps, stationery, &c.
1997
Less dividend of
3
per cent...
$13,318.50
The stock of furniture, a large proportion of By balance from 30th June, which is of a very perishable nature, has been considerably augmented during the past year, and, bearing in mind the small sums written off during the years 1890 to 1895, the directors strongly urge the wisdom of reducing its book value by the amount suggested above, viz., $10,000.
BUSINESS.
The business of most departments shows a satisfactory increase.
STAFF.
Mr. A. D, Death was appointed manager on the 1st October, 1897.
DIRECTORS.
Messrs. W. Parfitt and E. Osborne retire by -rotation, but offer themselves for re-election.
AUDIT,
The accounts have been audited by Messrs. W. H. Gaskell, who are recommended for re- election.
W. PARFITT, Chairman. Hongkong, 15th February, 1898.
BALANCE SHEET, 31ST DECEMBER, 1897.
LIABILITIES.
Capital-
8,879 shares at $50 each (fully paid-up) Mortgage to Hongkong Land Invest-
ment and Agency Co., Limited. Accounts payable
Less written off' furniture and fixtures
By rents of shops and offices,
new building....
5,000.00
18,318.50
►
.13,473,20 ›
2,580.00
By rents of shops and offices,
old building
7,789.50
By dividends on shares
10,369.50 262.71
By bad debts recovered
2.70
30,448.65
$54,556.76
By profit on hotel working account for
six months ending 31st Dec., 1897
REPAIRS AND RENEWALS ACCOUNT.
Dr.
To payments on account of repairs and renewals during the half year ended 31st December, 1897 To balance...
C.
443,950.00
Dr.
By balance forward.. 500,000.00 By refunds
€31,648.28
Directors' and auditors' fees
To commission account:-
Agents' commissions..
To fire brigades account:--
Contributions at agencies, &o...........
To losses account, 1897-
To amount written off:-
Furniture account..
To balance
7,400.00
Unclaimed dividends
36,517.87 By transfer from grofit and loss account
247.50
39,048.28
Repairs and renewals account Profit and loss account
2,429.66
during the half year ended 31st De cember, 1897
27,078.17
21,576.86
435.43
$1,010,223.20
Claims paid after deduction of re-insurances 51,983.13
ASSETS
$ c.
C.
6,041.36
2,429.66
$8,471.02
2,315.52
155.50
6,060.00
$8,471 02
61.00 237,802.00
$350,907.60
Cr.
$ C.
By premium account:—
Premiums received after deduction of re-
insurances
252,021.30
By interest account:-
deposits and investments, &c.
98,658.12
By transfer fee account:-
Amount at credit
228.18
$350,907.60
*Amonat at credit, including interest due on
The future movements of H.M.S. Edgar are still quite unknown in naval circles. If events in the Far East had been more promising the Edgar would have been almost home by this time, but her departure was necessarily delayed and it is not at all certain where she will go to next; perhaps she will go North, perhaps to England.
Value of land and buildings as per last
report:-
Marine lot No. 5, and re-
maining portion of mar
ine lot No. 3 .................... .$412,523.04
Remaining portion of
marine lot No. 7......... 408,157.26 Praya reclama-
tion, as per
last report.. $18,936.42 Praya reclama-
tion,
since
added, being
4th instal-
ment amount-
ing to 12 per cent. paid to Government. 2,746.62 20,783.04
Value of furniture and fix-
tures as per last report....$81,863.72 Less written off, as recom-
mended in last report... 5,000.00
$76,863.72 30,528.74
Since added...
DEATH OF ADMIRAL TSUBOI,
We regret to have to announce the death of Vico-Admiral Baron Tsuboi, Commander of Yokosuka Admiralty. Deceased had been in s precarious condition since last summer and is reported to have expired at his residence at Shirokane-dai-machi, Shibu, Tokyo, on the after- noon of the 30th alt. Vice-Admiral Tsuboi took a prominent part in the late China War, especially at the naval engagement in the Yel low Sea, when he was in command of the first flying squadron, his flagship being the orniser Yoshino. After the war he took command of the Japanese Standing Squadron and was then transferred to the command of the Yokosuka Port Admiralty, which post he held at the time 841,463.34 | of his decease.-Japan Mail.
At Yokohama, on the 27th January, during the dinner at the German Club in honour of the Kaiser's birthday, one of the company, Mr. Biefeld, slipped and fell on the floor, breaking his leg in two places. He was taken to the 107,392.64 hospital