252
HONGKONG HOTEL CO., LTD.
The following is the report of the Board of Directors to be presented at the ordinary meet- ing of shareholders, to be held at the Company's Hotel, at noon, on Tuesday, 26th inst.
To the shareholders of the Hongkong Hotel Company, Limited :
Gentlemen, In accordance with Section 56 of the Articles of Association, the directors have now to submit to the shareholders their half-yearly report for the six months ended the 31st December, 1900.
ACCQUETS.
The profit on working account amounted for the six months to 875,148.53, as compared with
THE HONGKONG WEEKLY PRESS AND
Since added to furniture and
fixtures account
2,992.20
[March 23, 1901.
e. closed down on the 15th September last, a sus- pension of the labour conditions for six months 106,296.59, having been obtained.
Stock of linen, crockery and glassware, &c. 39,530.48 Stock of wines, provisions, household sun-
dries, coal and stationery.. Shares in public companies Licenses attaching to 1901 Accounts receivable Steam launch
tion
Hongkong and Shanghai Banking Corpora- Hongkong and Shanghai Banking Corpora
tion, No. 2 account... Cash in hand
AUDITOR.
38,408.62
The accounts have been audited by Mr. W. 7,033.81 Hutton Potts.
930.00 19,931.59
PROFIT AND LOSS ACCOUNT,
$77,183.11 for the corresponding period of 1899, FOR THE SIX MONTHS ENDING 31ST DECEMBER, 1900. being a decrease of $2,034 58.
The profit and loss account, including a credit balance of $1,794.71, brought forward from 30th June, 1900, shows a credit balance of
83,698 29.
The directors propose to deal with this sum as follows:-
Dr.
To bad debts and refunda.... To rates
To half-year's interest on
($225,000 at 3 per cent.).. To interest account...
To directors' and auditors' fees
To fire insurance.
JOHN D. HUMPHREYS & SON, General Managers.
Hongkong, 18th March, 1901.
BALANCE SHEET.
For the period ending 31st December, 1900.
Accounts payable
Cost of property
LIABILITIES.
18,100.00
8,922.06
2,459.00
252.81
c.
$998,309.53
Capital account-400,000 shares at 25 cents
each
100,000.00
4,636.88
३ C.
$104,696.88
497.74
2,832.38
ASSETS.
debentures
27,000,00
6,750 00 1,3rd cost of air-compressing plant $7,038.27
104.70 Fixed plant.
5,995.69
3,200,00
13,031.90
1,550.78 Development
31,800.58
481.68
Stores on hand
1,262.61
Olivers scrip-2,000 A shares..
10,000.00
15,000.00
cent.
$ 60,000,00
C.
Bank
$4,497.85
To set aside against repairs and re-
newals
5,000.00
To set aside against repairs
́and renewals
Cash in hund
4.59
**
5,000.00
4,502.44
To write off furniture and
fixture's
17,039.35
3,000.00
AN
3,000.00 698.29
15,000.0
$104,636,88
698.20
Cr.
$
U
83,898.29
Dr. To amount carried forward.......................................... $99,055.57 To cost of milling and assaying To general charges in Australia c. To travelling expenses and telegrams
11,651,25
237.17
952.27
302.93
To application fees and rent of gold leases
869.64
0.
To Australian management
2,117.23
To general manager's and auditor's fees To preliminary expenses
2,650.00
127.50
To pay a final dividend of 10 per
cent. for the half-year, absorbing $60,000.00 To place to the reserve fund
To write off from value of furniture
and fixtures
***
To carry forward to new account
To Crown rent
To pay a dividend of 10 per To balance, to be appropriated as follows:
To place to reserve fund To carry forward to new uc-
count
Cash in Hongkong and Shanghai
Balance at debit of working account
WORKING ACCOUNT.
To office charges in Hongkong To exchange
75.37
324 86
$83,698.29
It should be noted and remembered by share- holders that very nearly 2 per cent. of the divi- dend now proposed is provided by profit on the sale of a portion of the Praya Reclamation- something quite exceptional and quite apart from the Hotel Company's ordinary business. A reference to the profit and loss account will show the profit from this source to be $11,880.75.
The land sold was a triangular piece measur ing 651 square feet and situated between Chater Road and Des Voeux Road.
BUSINESS.
The Company's business during the current half-year has, so far, been good.
DIRECTORS.
Mr. E. Osborne retires by rotation, but offers himself for re-election.
AUDIT.
The accounts have been audited by Messrs. W. H. Potts and W. H. Gaskell, who are re- commended for re-election.
W. PARFITT,
Chairman.
Hongkong, 18th March, 1901.
Capital:-
BALANCE SHEET. 31st December, 1900.
LIABILITIES,
By balance from 30th June, 1900 94,794.71
Less dividend at 10 $
60,000.00
per cent. Less transfer to re.
serve fund
Less written of furni-
13,000,00
ture and fixtures 10,000,00 Less set aside for re-
$19,301.62
pairs and renewals 10,000.00
93,000.00
Cr.
$
0.
1,794.71 By gold account, proceeds of gold
By rents of shops and offices, now
building
2,970.00
By rents of shops and offices, old
building
6,156.00
$1,411.09 By royalty on gold won by tributors 149.18
By rent of miners' cottages
1,560.27
131.95
9,126.00 By interest
564.05
By dividend on shares
380.00 By transfer fees
6,00
28.00 By balance
17,099.35
y bad debts recovered.....
$19,301.62
By scrip and transfer fees
By profit on the sale of a portion of Praya
Reclamation
197.58
11,880.75
By profit on hotel working account for six months ending 31st December, 1900....
75,148.53
$99,055 57
$
C.
To balance
*12,000 shares at $50 each (fully paid up)... 600,000.00
1,000mortgage debentures, au-
thorised issued at $500 each...$500,000.00
..............、、、、、、、
REPAIRS AND RENEWALS ACCOUNT. Dr.
To payment on account of repairs and re-. newals during the half-year ending 31st December, 1900
Less 550 ditto not issued
275,000.00
Accounts payable
225,000.00
26,926.54 By profit and loss
Cr.
Unclaimed dividends
2,415,50
Balance at credit of repairs, and renewals
account
2,269.20
Reserve fund
58,000.00
Profit and loss account
83,698.29
$998,309.53
ASSETS.
Value of land and buildings as per last report:-
Marine lot No. 5 and remain-
ing portion of marine lot No. 3
..... .............. $372,045.60
Remaining portion of marine
lot No.7
Praya reclamation...$22,491.02
Less sale of a portion,
being 651 square feet at book value
368,103.20
0.
of $1.75 per square
!
foot
1,139.25
21,291.77
761,445.57
Value of furniture and fixtures
as per last report... Less written on, as recom-
mended in last report.
.$150,273.52
10,000.00
140,273.52
Less value of stock transferred to linen, crockery and glass- account--Ist July,
$36,969.13.
0.
7,730.80
CHINA SUGAR REFINING CO.,
LIMITED.
The following is the report for presentation to the shareholders at the twenty-third annual general meeting, to be held at the offices of the 2,269.20 general agents, at noon on Wednesday, 27th,
inst. :-- $10,000.00
$ 10,000.00
$10,000.00
The general agents beg to submit to share- holders their report on the company's business for the year 1900, with a statement of accounts to 31st December.
There was a fair demand for refined sugar locally during most of the year, in spite of the grave complications which arose in the North
of China. THE QUEEN MINES, LIMITED.
The following is the report for presentation to shareholders at the second ordinary meeting to be held at the Company's offices, 38 and 40, Queen's Road Central, on Wednesday, the 27th inst., at noon :—
Gentlemen,-We beg to lay before you the report and statement of accounts for the thirteen months ending the 31st December last :----
In Japan and other Eastern markets the con- sumption of the Company's products was again interfered with by large importations of beet. root angar, and this will probably be the case so long as the cost of the latter is artificially cheapened by the system of bounties existing on the continent of Europe.
The nett sum at credit of profit and loss ac- count is $251,800.16, out of which $50,000 was The sum of $12,838.13 has been expended on paid as an interim dividend of 23 per cent, on the mine and has been charged to development the 18th August last; the balance, $201,800.16, account, which now stands at $31,800.58; $127.50 the general agents and consulting committee on preliminary expenses in Hongkong, and recommend should be dealt with as follows, $4,472 64 on salaries, management and general | vis. :
--
expenses in Australia, or $17,498.17 out of a A. final dividend of $9,50 per share total of $21,488.40.
(making $12 for the year) Carry forward to next account
CONSULTING COMMITTE
$190,000.00
11,800.16
$201,800,18
During the period under review, work has been chiefly confined to driving at the 205 feet level South, the 45 feet level North, and the 142 feet level South. A total distance of 226 feet was driven, but although some small shutes of ore were passed through at various times, This consists of Mesars. Hon. (. P. they were all of low grade, nothing payable C.M.G., D. M. Mosen, C. 8, Sharp, D. having been met with. The Company's funds and R. U. Wilcox, who offer themselves for re- being almost exhausted, the mine was therefore election.