Mr. BROOK SMITH, MY Thos Arnold was re electe
the
dend
tuniste:
AN--- Gentlemen, that
the meeting
cement
the trouble in
more for- ceases,
THE HONGKONG ROPE MANUFAC TURING COMPANY LIMITED.
THE HONGKONG WEEKLY PRESS AND
THE CHIN MUTUAL STEAM NA VIGATION COMPANY
LIMITID
The following is the roport of the Directors, to be submitted at the annual ordinary general meeting of shareholders, to be held at the of the company, No. 8, Billiter Avenue, City of London, on Tuesday, the 18th March, 1900.
£ad.
The Directors beg to submit the general bal- the 3rd inst, at noon an extraordinary gen. ance sheet and profit and loss socount for the oral meeting of the Hongkong Rope Manufactur-year ending 31st December, 1899, duly audited. ing Company, Limited, was held at No. 9, Praya Central, for the purpose of submitting for con- firmation or otherwise as a special resolution the resolution passed at the extraordinary general meeting held on the 17th March, Mr. R. Showan occupied the chair, and there were also present: Messrs, David Gillies, A. J. Ray- mond, J. H. Lewis (consulting committee), A. Babington, and Fung Wa Chuen.
On the motion of the CHAIRMAN, second- ed by Mr GILLIES, the following resolution was passed That the captal of the company be increased from $250, 00 to $500,000 by the creation of 5,000 new shares of $50 each, such increase to be made up by the conversion into capital of the sum of $250,000 out of the reserve fund or the investments representing
the same.
The met profit, including the balance brought forward from last year, and after providing for the general ex- penses of the current year, direc tors' fees, income tax, interest, &o., amounts to
BALATON BHIM.
proference 1
ordidary sharos
£10 ea
Issued 16,736
16,736
whi
boen paid:
those £5 per sha
been in anticipation of calls 89,83
To bills payable
To insurance fund
To net receipts on account of Kvoyages
To sundry creditors 86,010 11 3 To balance of profit and loss
account
acomplet
16,719-06 23,674 10 4
88.010 114
5,020 16:0
£80,989 15 3
Less dividend at 3 per cent. on the preference shares for 6 months, pald lat October, 1899
5.020-16 0.
80,980 16
An interim dividend of 8 per cent. on the preference shares was paid on 1st October, 1899, amounting
to
35,000 0.0
25,000 0.0
Leaving a sum of which it is proposed to apply as follows To the credit of "Purchase account !
of steamers" To the credit of "Reserve and equa-
lisation of dividends account"- And they y recommend that there should be paid out of the profit a further dividend of 3 per cent, on the preference shares--
Subsequently another extraordinary general meeting was held (1) To consider and if thought fit approve the draft new regula tions which will be submitted to the meet ing, and in the event of the approval thereof with or without modifications or alter- ations, (2) To consider and if thought fit to pass a resolution to the effect "That the new regulations already approved by this meeting. and for the purpose of identification subscribed by the chairman thereof be and the same are. hereby approved and that such regulations be and the same are hereby adopted as the regulations of the Company to the exclusion of all the existing regulations thereof."
A dividend of 10 per cent. on the
ordinary shares (£5 paid)
A bonus of 3 per cent, on the ordin
ary shares Balance to be carried to new account
By amount of purchase account of steamers 660,900 By bills receivable
4,547
By
Bundry
By office furniture, and cargo stages, do
debtors
646 4 10.
1,091 6 1
776711 1
cash on
$600
By cost of stores and coals in the Bas
on deposit-
15,000,0 5020 18 0 By cash at bankers and on hand 6,600-
per cent. for the year, and, in addition, a bonus of three per cent, on the ordinary shares, having £5 per share called up.
8,368 00
2,510 80 5,090 11 3
£80,989 15 3 With a continuance of general activity in trade, the company's steamers have been fully and profitably employed during the past year.
After providing for the six per cent. prefer CHAIRMAN said their old articles were ence share dividends, the directors have pleasure in such a mess that it was decided to take advan-in recommending payment of a dividend of ten tage of the previous meeting to bring them up to date. There was no really vital alteration. He thought the only modification he need refer to was the alteration in the remuneration of the consalting committee, and as those present consisted principally of the consulting commit- tee he thought the less he said of it the better. Sinos, the articles had been printed they had decided to leave out the clause which provided that a fee of $1 should be paid in respect of every new certificate issued, so in proposing the first resolution he proposed that they approved of the draft new regulation submitted to the meet- ing with the following modification, viz., that clause 65 levying a fee of $1 in respect of every new certificate issued should be struck out.
Mr. LEWIS seconded and the motion was. Carried.
a.
On the motion of the CHAIRMAN, seconded by Mr GILLIES, the second resolution was
also carried:
This was all the business.
The Manila Times gives the rumour that two Rinderpest Commissions will probably be ap- pointed, one for the Northern and one for the Southern Provinces of the Philippines.
Awording to Tokyo journals the forthcom- ing wedding of the Prince Imperial and Prin- coss Kujo Sadako will take place on Wednes- day, May 9 h. As the Palace destined for the occupation of the Crown Prince is at present
course of constraction at Aoyama, the wed- ding ceremony will bogin in the Imperial Palace at noon on the day in question, and there
state ball in the evening. Pending ruction of their new Palace the Im- rial couple will live at the Akasaka Detached Palace, which was placed at the disposal of the
Dowager
during her lifetime. wedding the Crown Prince will wear major in the army and Prin- costume. On riage the perial
1 be in ving the
The fleet, as heretofore, has been maintained in thorough efficiency out of current revenue,
-
PROFIT ARD Loss Account TO 31ST DECEMBER, 1899
To
general exp nses, including remunera
tion to directors, rent, salar income tax, stationery,'
6,481
7177
To interest
To balance
By balance from last account 80,438 0
Logg
Dividend paid
March, 189 13,888-16 0 Amount placed
to credit of purchase account of steamers
At a substantial profit on first cost, the direc- tors were induced to part with the Hyson, built in Belfast in 1895: and, following the recognised practice of the company, they have disposed of the Ningchow, built in 1883, and the Danƒa, built in 1889, which. after years of good service, were no longer equal to the requirements of the trade.
Considerably after stipulated time the three By profit realized new steamers, contracted for in 1898, were com- pleted and delivered in the months of March,
J
une and November respectively, of last year. The results of the voyages already made have been quite satisfactory, and the ships themselves and their working have come fully up to expec- tations,
It will be observed that the directors have written off the profits of last year six per cent. on the first cost of the fleet, notwithstanding the great advance in the value of all steamer,
property vance in th
The following directors, Mr. David Reid and Mr H, D. Stewart retire by rotation, but, being eligible, offer themselves for re-election.
The auditors, , Messrs. John Baker and Sons aud Mr. Jamieson Elles, offer themselves for re-appointment,
.
£13,638 7 8
88,010:112
£99,648 186
65,000 00 0
388 16
2,049 4 4 97,599 14:
£99,648 181⁄2 6
The Straits Times, commenting on the case of a European lady who is said to have contract small-pox through riding in a riksha, complains of the indiscriminate use of the same riksha Europeans and coolies, but is unable to suggest a means of obviating the danger of infection from a diseased person riding in one of the public vehicles. The problem is a difficult one for Jinricksha Department:
The Allahabad Pioneer says that, after the murder of Major Kiddle and Mr by the Was, the Lieutenant Burma gent instructions to Boundary Commission tó territory This is in ac ments made when the Joint. bled, Mr Sco escorts into a punitive force“ Mr having made a strong repre Buil
It is proposed that the dividends shall be paid, both in London and the East, on the 20th March, 1900. The transfer books will be closed from the 5th to 14th March, inclusive. The Company's fleet now comprises: Tons Nominal
horse register.
6.608 1360 457 850 850 4646 800 4,642 800
Hyson,
Ping Suey,
Captains
J. S. Hogg
H. I Allen C. de la Perrell R. Conradi DaDavies
H
irrall
11. C. Harris
20
1899
899
1896
1895
850) Oct
447 (850
£650. 650
could safely proceed with the Work delimitation of the Burma Chinese border, the Joint Commissions have since been instructed to continue their march. No attempt will be made” to punish the Was, as the Com will soon pass away
The
een adds
attached to
the British tacked, in fact
a Chinese hayed with
lame