106
The accounts are as follows:-
ABSTRACT OF ASSETS AND LIABILITIES
Paid-up capital
31st December, 1901.
Storling reserve fund
Silver reserve fund
LIABILITIES.
Marine insurance account Notes in circulation :-
Authorised issue against securities deposited with the Crown agents for the colonies Additional issue autho
rised by Hongkong Ordinance No. 19 of 1900, against coin lodged with the Hong- kong Government
Current account:
Silver
THE HONGKONG WEEKLY PRESS AND
SILVER RESERVE FUND.
To balance..
$ C. 10,000,000.00
10,000,000.00 | By balance 30th June, 1901 1
8,750,000.00 By transfer from profit and loss account
250,000.00
$
10,000,000 00
3,006,761.37
84,438,654.24
Gold, £2,275,728.38.9d.—24,512,736.38
Fixed deposits
13,006,761.37
[February 10, 1902.
other recommendations as to dealing with the $ 4,250,000.00 | balance of Profit and Loss Account. Profits have increased annually in the past owing to $4,250,000.99 the steady increase in the demand both from $ 3,750,000.00 the shipping and locally, and at present the 500,000 00 probabilities seem to be that these improving results may continue. It may interest you to $ 4,250,000,00 know that the quanity of ice supplied to steamers during last year exceeded the local consumption. The plant at the works KOWLOON LAND AND BUILDING is now of the most modern and economical kind.
CO., L.D.
The following is the thirteenth report of the Board of Directors to the ordinary meeting of shareholders to be held at the Company's offices, Victoria Buildings, at 12 o'clock, on Wednes day, the 12th inst. :-
Gentlemen,-The directors now submit to you a statement of the affairs of the Company,, -108,951,390,62 | and balance-sheet for the year ending 31st
December, 1901.
Silver
41,052,600.47 Gold, £3,687,660 38.5d.—39,768,041.28 Bills payable (including drafts on Lon: don bankers and short sight drawings on London office against bills receiv. able and bullion shipment).. Profit and loss account Liability on bills of exchange re-dis- counted, £5,770,463 58. 11d. of which up to this date £3,620,516 have run off.
80,820,641.75
18,175,305.05 3,879,090.77
$248,833,189.56
C.
ASSETS.
Cash
$ 37,545,408.13
Coin lodged with the Hongkong Govern- ment against note circulation in ex-
cess of $10,000,000
5,360,000,10
Bullion in hand and in transit
14,309,998.96
2,009,196.29
Indian Government rupee paper
Consols, Colonial and other securities 8,386,462,30
Sterling reserve fund investments, viz. :---
£250,000 27 per cent. Con-
sols lodged with the
the Bank of England as
1 Special London reserve at 90 £225,000 £267,500 24 per cent. Con- sols £255,000 24 per cent. National war loan at 90 £470,250
£355,500 other sterling securities standing in
$
C.
1,900,000.00
4,702,500.00
the books at £339,750... 3,397,500.00
Bills discounted, loans and credits
Bills receivable
Bank premises
10,000,000.00
The balance of profit and loss account for the year, after writing off all charges and expenses, amounted to $11,512.83. The directors, there- fore, recommend that a dividend of one dollar | eighty cents per share be paid, which, after writing off the directors' and auditors' fees, will leave a balance of $512.83 to be carried forward to credit of a new profit and loss account.
DIRECTORS.
Messrs. J. H. Cox and E. Jones Hughes retire by rotation, but offer themselves for re-election.
AUDITORS.
The accounts have been audited by Messrs. Thos. Arnold and W. H. Gaskell, who retire, but offer themselves for re-election.
F. HENDERSON, Chairman.
Hongkong, 28th January, 1902.
The accounts are as follows :-
BALANCE-SHEET
To 31st December, 1901.
LIABILITIES.
31st Dec., 1901.
Paid-up capital.....
Accounts payable
Dividends outstanding
Balance of profit and loss account
74,711,466.41 31st Dec., 1901. 95,780,452,12
Cash
730,205.35 Cost of property
Accounts receivable
$248,833,189.56
GENERAL PROFIT AND LOSS ACCOUNT.
ASSETS.
The cold storage buildings with fittings have been completed at a cost of $61,500, and although there may be no satisfactory return from that outlay for some little time, I hope shareholders will regard this extension as supplying a much required al want, from which, in due course, there is good prospect of a fair revenne being derived. Much credit is due to Mr. Parlane, who has the interests of the Company at heart, and has managed it so carefully and satisfactorily for many years.
With these remarks I move the adoption of the report and accounts.
Mr.Cox seconded, and the motion was agreed to. Mr. Ho Fook moved the re-election of Mr. Thos. Arnold as auditor for the present year::
Mr.VEITCH Seconded,and the motion was carried. The CHAIRMAN-That is all the business, gentlemen. Dividend warrants will be ready
to-morrow.
CRICKET.
H.K.C.C. V. GARRISON,
This match was played on the 1st inst. and ended in a win for the Garrison by 84 runs. Ward won the toss (as usual) and sent in Maitland and Mackenzie to face the bowling of France-Hayhurst and Preedy. Both quickly made themselves at home, and runs came freely, until Mackenzie was well caught in the long field by Edmondson, having contributed, a useful 37, which included seven fours. Maitland was playing a steady game, but did not appear to get hold of the bowling and was caught out 180,000.00 by Burke, off Preedy, when he had made 41. 515.32 Dixon compiled 24, and the telegraph board 396.70 read 3 wickets for 106 runs. The next three 11,512.83 wickets, however, fell for an addition of twelve runs alone. The only members of the tail to $192,424.85
get into double figures were Bogle, 23 not out, and Brown, 10.
$
0.
$ c. 8,221.58 182,032.17 2,171,10
$192,424.53
PROFIT AND LOSS ALCOUNT.
15,000.00 To fire insurance
31st December, 1901.
31st Dec., 1901.
Dr.
$ C.
To charges...
To amounts written off: ---
To Crown rent
Remuneration to directors
$
To dividend account:---
£1.10/ per share on 80,000
To commission to agents To repairs
shares £120,000 at 4/6, $ [3] 3 2,3)
To bonus of 10/- per share on 80,000 shares £40,000
i
Directors' fees
at 4/6....
177,777.78
. Auditors' fees
711,111.11
500,000.00
Dr.
To balance to be appropriated as follows:
Dividend of $1.80 per share
To be carried to new profit
and loss account....
1st Jun., 1901.
The Garrison started with Moberley and Burke, and both batted well, but the latter should have been caught out by Maitland in the long field. The Club bowling was of a very ordinary kind, and did not appear to trouble the batsmen much, but if the Club c. fielding had been better, a number of ruus might have been saved. In fact, we do not think we have seen the Club field so badly as 965,32 they did on this ocession, the chief culprits 2,344.70 being Wark, Brown, and Boyle. Najor Wynne contributed an useful 68 to the Garrison's total before he was caught an mid-on, and Capt. Pearson made 51.
$ 420.83 786.00 396.47
One remarkable feature of the game was that the umpire had called a wide when Noble w8S bowling, and then immediately called
Scores and analysis:-
H.K.C.C.
F. Maitland, o Burke, b Preedy
over
$10,800.00
150.00 50.00
512.83
11,512.83 $16,426.15
$1
Ur.
ទូ
0.
* 362.54
A. Mackenzie, o Edmondson, b F. Hayhurst 37 W. Dixon. b Preedy....
21
15,957.36 72.25 34,00
A. G. Ward, e Preedy, b Krickenboek
1
Lieut. F. B. Noble, R.N., o and b Freedy?
Mr. Fitch. R.N., o B.-Ash, b Preedy...
G Grimble, b Krickenbeek
A. O. Brown, c Krickenbeck, b Preedy
ย
$16,426,15
Mid. Boyle, B.N., not out
23
10
To dividend adjustment account:-
Difference in exchange between 4.6. the rate at which the dividend and bonus are declared, and 1/10), the current rate of the day
To transfer to silver reserve fund To transfer to bank premises account... To balance forward to next half-year
Cr.
By balance of undivided
profits, 30th June, 1901 $1,485,715,99
By amount of net profits for
the six months ending
31st December, 1991, after making provision for bad and doubtful debts, deducting all ex- penses and interest paid and due.....
1,014,731.59
200,000.00 By balance brought forward 1,4 8,248. 7 | 31st Dec.
$3,879,090.77
0.
By rents
By interest..
By scrip fees...
HONGKONG ICE CO., LD.
The 21st annual meeting of shareholders was beld at the offices of the Company, Pedder's Street, on Thursday, Mr. J. J. Bell-Irving pre- 2,093,874.78
sided, and others present were:-Messrs. W. -$ 3,879,09).77 | Parlane (Manager), T S. Forrest (Secretary), G. U. Anderson, T. Arnold, J. H. Cox. W. A. 3,879,090.77
C. Cruickshank, Ho Fook, R. H. Potis, K. MOK. Ross and G. T. Veitob.
STERLING RESERVE FUND.
To balanco
By balance 30th June, 1901
(invested in Sterling Securities)
The
The CHAIRMAN said-Gentlemen, the results $10,000,000,00
shown in the report before you are so favour. $10,000,000.00 | able that I think you will be satisfied with few
comments from me on the working. $10,000,000.00 policy of writing down your property, thus strengthening the position against any possible $10,000,000.00 opposition, will, I am sure, commend itself, I anticipate your approval of the
and
J. Brown, & Preedy, b F. Hayhurst...
P. W. Goldring, o Pearson, bF. Hayhurst 2
Extras
Total
GARRISON.
11
...160
Capt. Moberly, H.K.R, e Dixon, b Mac-
kenzie
Lt. Burke, 22nd B.I., e Grimble, b Mac-
kenzie
Capt. Krickenbeek, 2nd B.I., st Goldring,
b Mackenzie
1-4
45
5.
F. C. France-Hayhurst, B.W.F., b Fitch 1 Major Wynne, R.A., o Brown b Noble... 69 Capt. Pearson, R.E., c Maitland, b Grimble 51 Capt. Cadogan, B.W.F., c and b Ward Lieut. Edmondson, b Grimble Cor. Preedy, e Dixon b Ward Capt. Rotherham, not ont Major Beresford-Ash, retired
Extras
Total.
0
...
21
5
14
5
15
244