Page
February 3, 1900.J
Fixed deposita
Silver....
$24,200,651.21
Gold, £4,291,675, 188,
6d....................... 44,079,496.78 ·
Bills payable (including drafts on London bankers and short sight drawings on London office against bills receivable and bullion shipments) Profit and loss account Liability on bills of exchange re-discounted, £5,470,596 13s. 6d. of which up to this date £3,770,029 1s. 9d. have run off.
Cash
ASSETS.
78,370,143.29
CHINA OVERLAND TRADE REPORT. HONGKONG, CANTON, AND MACAO STEAMBOAT CO, LIMITED.
On the lat inst.. the ordinary half-yearly meeting of shareholders in the Hongkong, 14,737,118,73 | Canton, and Macao Steamboat Company. 3,118,624.81 Limited, was held at the office of the company. No. 18, Bank Buildings. The Hon. E. R. Belilios, C. M. G., presided, and there were also present: the Hon. J. J. Keswick, Messrs. N. A. $208,294,919.56 Biebs, E. Goetz, F. A. Gomes (directors). T. Arnold (secretary). D. Gill es, E. Georg, B. C. Wilcox. T. I. Rose, J. Goosman, (Captain) Tillet, J. J. Judah, W. H. Gaskell, F. Hender. son, J. A. Leiria, D. W. Craddock, John Behrens, Thomas Yne, She Fat Soi, and Wong 5,000,000.00 Wing Yuen, 8,168,689.07 4,107,887.97 The SECRETARY read the notice convening 3,619,752.08 the meeting.
Coin lodged with the Hongkong Govern- ment against note circulation in excess of $10,000,000..
Bullion in hand and in transit
Indian Government rupee paper Colonial and other securities...
Investments, VİL :-
£250,000 24 per cent. Con- sols lodged with the Bank of England as a special London reserve, at 95 £237,500 £522,500 24 per cent. Consols at 90 £170,250 £147,500 other sterling securities standing in the books at £389,750
$1,000,000.00
4,702,500.00
3,397,500.00
Bills discounted, loans and credits
Bills receivable
Bank premises
$
26,557,627.53
|
77
ROSE, seconded by Mr. WILCOX. were re-elected auditors, on the motion of Mr.
I
· The ChairmAN-This is all the business, gentlemen. Dividend warrants will be ready to-morrow at ten o'clock. I thank you for
your attendance.
THE HONGKONG ICE COMPANY, LIMITED.
The following is the Nineteenth Annual Report of the above company:-
'The general mangers have pleasure in sub- mitting to the shareholders a statement of the Company's accounts for the year 1899.
Including $2,484.14 brought forward from last year, and after deducting $10,000 paid on the 26th July last as an interim dividend of $2 per share, the balance at credit of profit and loes is $67,893.47, which it is recommended should be appropriated as follows:- A final dividend of $10.00 per share $50,000.00 To write off pr. perty and extension
accounts To carry
forward
$14.269.33 .. $ 3,824.14 -
$67,893.47
A considerable sum was expanded during the year on buildings aud plant, and a further large expenditure will probably be necessary.
The CHAIRMAN said-I propose that, as usual, the report and accounts be taken as read. Your directors regret that the net earnings of steamers are not quite up to those of the corresponding six months of 1898, but, as explained in the report, this is mainly due (in fact, I think I may say almost entirely dne) to the adverse conditions under which the West River branch of our business has been 10,000,000.00 | carried on. At our last meeting mention was 59,713,635.01
made of the restrictions which had been placed upon the working of our steamers and the op- inion expressed that should those conditions continue the trade conld not be worked at a profil. Unfortunately, that prediction has been more than realised. as the result of the Property necount six months' working of this branch shows an actual
loss. With regard to the new steamers for this trade which have been
90,907,891.94 219,435.96
$208,294,013.56
GENERAL PROfit and Loss Accourt, 3 ̊ST DECEMBER, 1899.
To amounts written off:-
Dr.
Remuneration to Directors,
To dividend account :--
£1.10 per share on 80,000
.$
shares £120,000 at 4 6, . $533,333.33 Bonus of 10 per share on
80,000 shares-£.0,000 at 4.6, ........
177,777.78
To dividend adjustmont account :-
Difference in exchange between 46, the rate at which the dividend and Bonus are declared, and 1/11, the current rate of the day,
To transfer to reserve fund,
To balance forward to next half-year
$
..
7.1,111.1
931,669.64 500,000.00 960,943. 0
8 3,118,624.51
Cz.
$
$ 961,532.06
By balance of undivided pro-
fits, 30th June, 1899, By amount of net profits for the six months ending 31st Dec- ember, 1899, after making provision for bad and doubt- ful debts, deducting all ex- penses and interest paid and due,
2,165,092,25
с
$3,118,524.31
$3,118,824,31
C.
RESERVE FUND.
To balance
11,500,000.00
15,000.00 specially built, and are being built, in joint account with other companies, I may explain that they were ordered during an in- terval when the restrictions of which we com- plain had been removed; bad we known that Those restrictions would be reimposed the in. vestment of capital in this direction would certainly have been deferred until better times. We can now only hope that something will shortly result from the urgent re resentations we have made in regard to this matter. The White Cloud, the last of our old wooden steamers, has been sold, showing a loss of some $7.600 on her book value, against which we have a partial offset in the profit of $3,385 on the sale of a property The trade on the Cauton and Macao liue is too small for ressels of the tonnage of the White Cloud to work remu- neratively; your directors, therefore, decided to put the Huenshang on in her place, and so far the result of the running of this steamer has been fairly satisfactory. You will have observed that the Board, in anticipation of your approval, bas, in common with other local com. panies, subscribed small sums to two deserving objects, namely, the Tung Wah Hos ital and the Soldiers and Ballors' Families' Fund, a trifling expenditure to which, under the circumstances, there will doubtless be no objection. We had hoped to have our new wharf ready by this time, but $11,500,000.00 owing to the great rise in raw material and the difficulty, in consequence of the war, of getting workmen, there has been several months' de 21,000,000.00 lay in shipment. A portion of the material 500,000.00 has now arrived and further shipments are on the way-work has been commenced and the $11,500,000.00 wharf should be finished before our next meet- ing. The l'ouan has resumed running after a T'he Indien Battalion that is to come to Sin- two months' lay up for new boilers and a gen gapore is the 16th Madras Native Infantry, ateral overhaul: she is now in first rate condition present having its headquarters stationed at throughout and should run for a good many Berhampore, with a d tachment at Cuttack. years yet. The company's investments, I am The battalion is historically styled Lane's, from pleased to say, are in a most satisfactory con- the officer who raised it originally at Trichi-dition; all one mortgages show ample margins nopoly on the 10th December, 1776. It was on the respective loans, while the rise in the formerly the 2nd Battalion of the 5th Madras value of the investments in stocks enables us to N. I. and is still linked, on the three-battalion increase the amount at the credit of our in- system, with the 5th and 27th. The 16th is vestment fluctuation account to the substantial what is called a Class Company Regiment, con- figure of $137,000. With these few remarks, sisting of 3 Companies Mahomedans, 2 Com gentlemen, I would propose the adoption of panies Tamils, 1 Company Telingas, and 2 the report and accounts, but before doing so I Companies mixed. The regiment bears on its shall be pleased to answer to the best of my colours the distinctions Carnatic," "Sholin. ability any questions which shareholders may gar."
"Mysore," "Seringapatam," "Ava,” and wish to ask. "Burma 1885-1887," Its full uniform is red, facings yellow. lace gold. The Commandant is Major J. W. Parker, with rank of Lt.-Colonel,
-Singapore Free Press.
By balance, 30th June, 1'99 By transfer from profit and loss account
..
|
There being no questions, the report and accounts were adopted, on the motion of the CHAIRMAN, seconded by Mr. GILLIES.
Messrs. A. O'D. Gourdin and F. Henderson
JARDINE, Matheson & Co.,
General Managers. Hongkong, 29th January, 1900.
-
Exten-ion account
Invested in:
Hongkong Fire Insurance Company's share Canton Insurance Office's chare China Fire Insurance ^o.'s share Debentures in Hongkong and Kowloon
Wharf and Godown Co., Limited Mortgage on property
Cash on hand
ANETS.
$27,000.00 87,269.33
114,269.33
225.00
120.00
83.00
10,000 00 50,000,00
287.34
30,093.0
2,247..75
1,607,10
180 00 200.00
: 209,305,32
LIABILITIES
Hongkong and Shanghai Bank-Current ac-
count
Outstanding accounts Accounts receivable
Ice on hand Coal on hand
Capital
Ammonia reserve account Accounts payable
Profit and loss account...
PROFIT AND Loss ACCOUNT. To salarica, wages and general trade expenses To subscription to Soldiers and Sailors' Fami
lles' Fund To value of one share in the anton Insurance
Office written down from $150 to $120 To General Managers' commission To auditor's fee
To interim dividend of 8 per cent. paid on To balance
26th July, 1899.
$ C.
125,000.00
7,914.72
4,497.13 67,993.47
: 209,305.32
By balance brought forward from last year... By receipts for ice during the year, value of
stock on hand, &c..........
By rents received (less Crown rents and taxes
paid) By interest...
y transfer fees
$ C. 21,942.09
200.00
30.00 2,000.01 150.00
27,322.09
10,000.00
67,893.47
#105,215.50
2,484.14
97,163.19
1,477.30 4,042.99
46.00
$103,213.36
We have received a copy of “Four Pieces for the Pianoforte," consisting of a gavotte, reverie, Polish dance and march, by Gertrude Clark, which we shall notice later. The publishers are Messrs. Lane, Crawford & Co.
Another armed robbery was reported to the police on Saturday. A coolie named The Sing, of 118.-To-Kwa-Win, Kowloon, said that; at about two o'clock in the morning eight men armed with swords and revolvers entered his house. theatened him, and stole clothing and jewellery to the value of $27. He added that 'he was unable to identify them.