162
1st July, to 81st Dec., 1900.
By not earnings of the Company's three
establishments
By towage, not earnings
By Borip fees....
By bonus on premis, do.
0.
THE HONGKONG WEEKLY PRESS AND
WORKING ACCOUNT, 1899.
596,512.03 | To losses and claims paid.
84.00. To remuneration to consulting committeo 766.26 and auditors.
4,622.09 To return premia.
To balance as above
$601,985.28
by balance from last account Add sundry premia since received.
[February 23, 1901.
Directors in January at a price which they $. consider moderate, and they hope within a year 138,808.64
or two to build on it to advantage. This estate 11,274.37
will be known in future as “Broadway estate 6,500-00 No. 10," 204,651:70
3
DIRECTORS.
On Mr. Kinnear's departure for England, $361,234.71 || Mr. Wood was invited to take his place on the Board. Mr. Kinzear returned at the begin- $ * 334,340.50 ning of the year, and, on Mr. Wood's departure 26,894 21 shortly after, he was asked to resume his seat. Mr. Young retires by rotation but offers him. $361,234.71 self for re-election.
HONGKONG FIRE INSURANCE CO., LIMITED.
The following is the report for presentation to the shareholders at the thirty-second ordin- ary general meeting, to be held at the offices of the general managers, on Wednesday, the 6th March, at noon.
The general managers and consulting com- mittee have pleasure in submitting to the share. holders the thirty-second annual report of the Company.
1899 ACCOUNT.)
This account shows a profit of $204,651.70, which sum, subject to the approval of the shareholders, it is proposed to deal with as follows, viz. :-
Bonus to contributing shareholders, $ 3,017.37 Addition to reserve fund, Dividend of $24 per share,.......................
192,000.00
To losses and claims paid. To charges
To commissions
To fire brigade expenses To balance as above
By not promía received less return and re- By interest
insurances
By exchange..
By transfer fees.
1900 ACCOUNT.
9,634.33
$204,651.70
WORKING ACCOUNT, 1900.
C.
32,044.75 23,122.45
91,418-57
231.00
341,620 82
$129,437.59
$ 298,242.11
127,073.38 4,034.10 88.00
$429,437.59
SHANGHAI LAND INVESTMENT
LIMITED.
CO1
The balance at credit of this account is of the above Company for presentation at the The following is the Report of the Directors $341,020.82.
MORTGAGES.
From the reports and valuations made by the company's surveyors the general managers and consulting committee are satisfied that the pro- perties held by the company form ample security
for the advances made.
CONSULTING COMMITTEE.
The present members, Messrs, the Hon. C. P. Chater, C.M.G., Lewis, Raymond, Maitland, and Mackay retire, Lut offer themselves for
re-election.
AUDITORS.
The accounts have been audited by Messrs. Fullarton Henderson and W. Hutton Potts, and their re-election is recommended.
JARDINE, MATHESON & Co., General Managers. Hongkong, 13th February, 1901.
BALANCE SHEET, 31ST DECEMBEE, 1900.
Dr. LIABILITIES.
Capital subscribed
...$2,000,000.00
Amount paid-up
Reserve fund..
Uncollected dividends.
Account payable
Working account, 1899 :—
Net profit..
$ c.
400,000,00 1,093,757.19 5,347.99
27,295.03
204,651.70
Working account, 1900:-
Amount brought forward from below... 341,020.82
Cr. ASSETS.
$2,072,072.78
Cash, on current account with Hongkong
& Shanghai Banking Corporation .... Cash in hands of General Managers Fixed deposits :---
Hongkong & Shanghai Banking
Corporation
..$75,000
50,000
Chartered Bank of India, Austra.
- lia & China
Mercantile Bank of India, Limited 50,000
Mortgages:-
In Hongkong
In Shanghai
In Yokohama
Investments -
$1,076,600.00
395,250.11 25,725.89
Chinese Imperial Government
loan, 1886
Hongkong & Kowloon Wharf
and Godown
Company,
$34,874.99
}
* Limited, debentures ................. 60,000.00 Shanghai and Hongkew Wharf
Company, Ld, debentures... 62,608.70
Shanghai Land Investment
Company, Ld, debentures.. 27,58€.20 Hongkong Hotel Company,
Ld, debentures
50,000.00
375.00
5 shares in the Chins Fire In-
Burance Company, Limited..
Steam fire engines
Locounts receivable
Twelfth Annual Meeting of Shareholders to March, 1901, at 4.30 o'clock p.m. be held at Shanghai on Wednesday, the 13th
and a Statement of the Company's Accounts for In presenting their Twelfth Annual Report the year 1900, the Directors congratulate the
Shareholders on the satisfactory results attained, considering the trying times that the Settlement passed through during the last Summer.
The Working Account for the year shows a credit balance of Taels 162,818.33 as compared
with Taels 153,283.06 last
year.
dividend paid in July, there remains a sum of After deducting the amount of the interim Taels 101,386.03 at the credit of profit and loss account, and it is proposed by the directors to appropriate this sum as follows :- To pay a final dividend of 63 per cent. on the capital (making 12 per cent. for the year) To transfer to reserve fund (being interest on undeveloped estates Nos. 8 and 9).
To carry forward to new account
DEBENTURES.
Tls. 84,500.00
6,974.82 $9,911.21
The issue of Tls. 250,000, referred to in last report, has now been completed.
CAPITAL.
Owing to the increasing operations of the company, the directors think the time has arrived when a larger capital is required. They intend to propose at a special meet- ing, for the approval of shareholders, that Tls. 650,000, in shares of Tls: 50 fully paid, be issued, and that these 13,000 shares be offered 29,502.03 to shareholders at par in the ratio of one share
1,059,51 | for every two hold in the
company.
$
C.
175,000.00
1,497,575.50
235,444.89 500.00 ......................... 132,990.85
CHWONG HOONG ESTATE No. 2.
The houses nearing completion when the last report was issued have been completed, and have all found tenants at satisfactory rentals. It is proposed to erect two more houses, and subject to tenders for building, tenants have been secured.
JINKEE ESTate no. 6.
The development of this estate continues. So far, and as fast as buildings are completed they are satisfactorily leased. The directors have considered it expedient to repurchase the bund portion of this estate, finding that it can be utilized profitably in connection with the rest of the property.
ESTATES NO8. 8 and 9.
There is nothing new to report regarding these estates, the time having not yet arrived when development might be taken successfully
in hand.
The other estates do not call for any com-
ment.
NEW ESTATE.
A property on Broadway, in the Northern District, known on the old plan of Hongkow $2,072,072.78 as Cadastral Lot 1,165, was purchased by the
AUDITOR.
Mr. Wingrove retires, but will serve again, if re-elected.
E. JENNER HOOG,
Chairman.
COL RESPONDENCE
[We do not hold ourselves responsible for the opinions expressed by our correspondents.] THE ABLE-BODIED BEGGAR.
TO THE EDITOR OF THE "DAILY PRESS." Hongkong, 20th February. SIR,-The leading article in your issue of yesterday draws public attention to a serious and growing evil which requires to be firmly checked, namely, the existence in our midst of
is given to them by the charitably disposed. several undeserving loafers who spend a life of idleness and uselessness upon the money which
I am unfortunably able, from bitter experience, to testify to the fact that money and clothing, too likely to be converted into drink, and bestowed upon people of this class, are only thus a gift which was kindly intended really results in harm instead of in good.
My advice, therefore, to the benevolently in- clined is to assist in stamping out this evil by cant for relief become disorderly, to send for tying up their purse-strings, and, if the appli- the police.
If, as you state in your leading article, those in authority at the Dock Extension (by which I suppose you mean the Naval Yard extension) are willing to provide work ́ for the unemployed at the rate of from $1.90 to $2 a day, there is no fear that any who are able and willing to work will die of starvation.
As for those who are able but not willing to work, there is only one suitable treatment for them, namely, imprisonment in Victoria Gaol where they will be compelled to work and will have no facilities for drinking.
Your suggestion that a Charitable Fund should be administered by the Captain Superin- tendent of Police appears to be an admirablo one, because, in that way, the Police will be able to keep a sharp eye upon the men who apply for relief, with a view to prosecute them vigorously if they waste any money which is given to them in heavy drinking.
The sentimental may be disposed to think that the above method of dealing with the difficulty is rather a harsh one, but I fail to see that there is any duty incumbent upon any of us to assist anybody who is able to work to pass his time in idleness or drunkenness. If a man will not work, neither shall he eat.”—I am sir, yours, etc.,
H. É. POLLOCK.
EXCURSIONS FOR MACAO.
Hongkong, 18th February.
TO THE EDITOR OF THE "DAILY PRESS.”
SIE, Will you allow me a little space in your columns to publish the following facts that will, no doubt, affect a great deal the interests of the shareholders of the Hongkong, Canton, and Macao teamboat Co., Ld.?.
It is well known that at this season of the year the usual Procession of the Cross is to take place in Macao on the 1st Sunday in Lent. large number of people from this colony used to be present at this religions act, and special excursion usually takes place every year, but this year the Steamboat Company decline to let any of their bosta on charter or to run any excursion at all. A very respectable gentleman of this colony applied to Mr. Arnold, the Secutary of the Steamboat Co., for the charter of the popular steamer Honam to
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