March 11, 1899.]
THE CHINA AND MANILA STEAM- SHIP CO., LIMITED.
The following is the report for presentation to the shareholders at the sixteenth ordinary general meeting to be held at the office of the General Managers on Thursday, 16th March,
at 11 a.m.
Annexed we beg to submit to shareholders the usual annual statement of accounts for the year ending 31st December, 1898.
The net profit, including the balance from last year, amounts to 855,47.27, which it is proposed to deal with as fellows, viz :
To place to Reserve Fund To pay a scrip dividend of 20
per cent.
**
Can
་་་
$ 5,000.00
50,000.00
To carry forward to next year's
account...
407.27 The steamer Zafiro having become quite un- suited to the Manila trade owing to her small size was sold to the U. S. Government on the outbreak of hostilities and will be replaced by the steamer Diamante which has been built for the Company at Aberdeen and is expected to ar- rive here next month. The purchase of this steamer has been met by the sale of the steamer Zafiro and of the Company's investments in local stocks but it has left no funds available for a cash dividend and it is therefore proposed by the payment of a dividend in shares of the Com- pany to increase the Capital to $300,000. As the Company will then own two boats worth at a moderate valuation $50,000, the proposed in- crease of Capital is fully justified.
The result of the year's working is less than that for 1897 but this is of course explained by the fact that we have sometimes had only one boat running and at other times have had to | employ chartered steamers not well adapted to our special requirements.
Consulting Committee.—In accordance with the articles of association, Messrs. Gillies, Siebs, Lewis, and hewan all retire, but offer themselves for re-election.
Auditors.-The accounts have been audited by Messrs. J. H. Cox and T. Arnold, who are eligible for re-election.
SHEWAN, TOMES & CO.
General Managers.
Hongkong, 28th February, 1899.
CHINA OVERLAND TRADE REPORT.
Value of coals on hand... Value of stores on hand Premium value of unexpired policies Outstanding freight 1898 Sundry debtors
Hongkong & Shanghai Banking Corporation. Cash on hand...
Investment in shares :—
100 shares Hongkong Land Investment and 200 shares Yangtase Insurance Association
Agency Co., Limited
Co., Limited
250 shares Hongkong Rope Manufacturing
Co., Limited
*********************!་
622.26
By amount brought forward from last year's 1,050.61
socount 4,144.79 By gross earnings. 24,621.75 By transfer fees... 28,074.44 By dividend unclaimed 69,881.77 By Interest account
1,460.12
75,025.00
$401,568.89
GEO. FENWICK & CO., LIMITED. The following is the report for presentation at the annual meeting to be held on the 11th March, at noon :---
The Directors beg to submit to the share holders statement of accounts for the year ending 81st December, 1898.
The net profit for the year amounts to $22,369.78, to which has to be added $17,356.85, brought forward from last year's account. After payment of Directors and Auditor, it is proposed to pay a dividend of 12 per cent, or $18,000, to shareholders, to transfer 88,000 to Reserve Fund, and to carry forward $17,576.63 to next year's sccount.
During the year the Company have been kept fairly well employed. The property and plant are in good condition. Several modern machine
tools have been added; these have been in use for some time, and are giving entire satisfaction.
DIRECTORS.
Mr. A. Rodger according to the Articles of Association retires at this time, but offers him. self for re-election.
AUDITOR.
The accounts have been audited by Mr. T. Arnold, who offers himself for re-election.
A. RODGER, Chairman.
Hongkong, 3rd March, 1899.
31st December, 1898.
AMETO.
Value of land and building thereon
as per last statement .... Less amount writan off for deprecia-
$68,686.15 | Less amount written off
201
17,386.85
22,055.04
81.00
470.82
13:25
By bonus from insurance company
2.87
$140.047.33
THE PUNJOM MINING CO., LIMITED.
The following is the report for presentation to the shareholders at the second ordinary general meeting, to be held at the office of the company, No. 9, Praya Central, Hongkong, on Wednesday, 15th March, at 11 a.m.-
statement of accounts from the date of the The Directors beg to submit the annexed incorporation of the Company to the 31st Decem debit of Working Account of $19.840,98. This ber, 1898, which they regret show a balance at balance has been carried forward to the debit of the new Account.
of prospecting has been carried on at Panjom During the past year a considerable amount at points hitherto untouched, and there were, at the date of the latest report from the Mines, at Jalis Mine. 12 prospects in operation, not including those
Panjom in July, 1898, and took over charge on Mr. L. L. Bailey was appointed Manager at
hoping that under his administration a more the 13th September last, and the Board arė
of the current year. flourishing state of affairs may exist at the end
The Machinery and Plant at the Mines are in good working order.
Directors. Mr. W, R. Loxley has resigned his seat on the Board, owing to his impending departure for Europe.
In accordance with paragraph 104 of the Articles of Association, Messrs. D. Gillies and J. H. Lewis retire from the Board, but being eligible offer themselves for re-election.
Auditors.-The Accounts have been audited by Messrs. F. Henderson and W. H. Gaskell and the Board recommend these gentlemen for re-election.
Hongkong, 7th March, 1899.
D. GILLIES, Chairman.
BALANCE SHEET, 31ST DECEMBER, 1898.
CAPITAL AND LIABILITIES.
Ordinary shares-
Authorized capital, 60,000
ordinary shares at $8.00 each
Less 350 shares deemed
$5 paid up unalloted
..$86,000.00
tion
4,000.00
PROFIT AND Low Account for the Year 1898.
82,000.00
6.
Consulting Committee
Auditors' fees..
Charges account
2,000.00 $00.00 979.18
Value of plant and office furniture
# par last statement Added during the year ............................ ........
24,655.00 6,937,74
Amount written off for depreciation 1898. Balance
10,000.00
81,592.74
55,407.27
Leeg amount transferred
to stook...
144.00
for depreciation
3,048.74
$480,000.00
8,192.74
Balance brought forward from 1897
2,432.00
28,400.00
Profit on working of steamers Esmer-
1,750,00
C.
Value of stook in trade
74,190.74
alda and Tailee
68,492.69
Work in progress
8,430.83
Less loss on working of steamars
Zafiro and Verona
6,581.83
Current account with the Hongkong and
Shanghai Banking Corporation
Less uncalled $3 each on
60,000 shares........
180,000.00
22,884.66
61,860.86 | Cash in hand.
419.59
181,750.00
Profit on stores
55.82 | Sundry debtors
11,788.35
Interest
1,794.70
298,250.00
Exchange
926.82
Dividend on fractional certificates
Amount transferred from bad and doubtful
debta
$223,315.57
Preference shares----
15.00
Authorized capital, 80,000
LIABILITIES,
1,671.85
$86,686.45
Reserve fund
Amount of capital 6.000 shares at $25 each
felly paid up
150,000.80
Accounts payable-
27,000.00
preference shares at $1 each 80,00o
Byme & Co., Singapore
328,25/1.00
BALANOS SERET,
Amount received in advance on account, of
contracts in hand
agents
$1,182.66
8,000.00
LIABILITERS.
Buadry creditore
James Morrison & Co., Ld.,
8,588.94
Capital, 5,000 shares at $50 paid up..
250,000.00
Balance of profit and loss account...
39,726.68
Londou agents
44.41
Reserve fund
Underwriting account
Sundry creditors
60,000.00
Wildey Ore Concentrator
་་་་ ་་་
8,220,64 22,682.37
$224,313,57
Bynd, Ld, London......
949.79
Due to General Managers
Balance of profit and loss sosount.
5,269.11
65,407.21
PROFI and Low Account, 31st Decayaan, 1898, To cost of labour, material, and working ex.
John Little & Co., Limited,
Singapore
862.52
$
Deposit and personal ac-
penses...
81,421 51
counts with employees
$401,588.89
To salarios
10,412.00
at Punjom.....
4,733.68
ABERTS.
..
Value of Company's steamers
Esmeralda and Zafiro, as per last statement
$170,000.00
Instalments paid on new steamer
Diamante
218,125.92
888,125.92
Las proceeds of sale of sta. Zafira 181,438.36
206,637.66
Leer depreciation written off'str.
new account
Bimeralda....
10,000.00
587.06
Value of buoys and a
To Crown rent and taxes.
To fire insurance
To amount written off plant account
To amount written off property account To amount of bad debts written off To balance to be appropriated, vis. 200
Auditor's fee .
Directors' feen
Diyidand of 13 per cent. on
$150,000.
Carried to reserve fund
Balance to be carried forward to
ORA VIT
1,133.90
Asiatic pay roll, Dec., 1898
1,886.65
214.50
Dividends unclaimed
1,528.19
8,048.74
Directors' fees
2,784.36
4,000.00
Auditors' Fees
150.00
91.55
Marine insurance on gold
and specie
670.36
$ 180.00 1,000.00
Legal expensesS
875.53
Boyalty to Canal Gold Ex-
..18,000.00
tracting Co., Ld., Glasgow
558.76
8,000.00
Sundry accounts
114.00
Draft against machinery
.17,576.63
ordered from London
057.24
•
39,726.63
рция
******** 16,498.48
$344,948.43