October 25, 1902.]
SWATOW.
[FROM OUR CORRESPONDENT]
Swatow, 22nd October. NAVAL MOVEMENTS.
CHINA OVERLAND TRADE REPORT.
of an old and valued colleague in the person of Mr. Gillies, who was a member of the Com- mittee from 1890 until his resignation last year. We are pleased to be in a position to announce a favourable result of the working of the 1901 account, which enables us to recommend
H.M.S. Espiegle arrived here last week and an increase of 2 per cent. in dividend, making 28 after couple of days stay left again for the per cent an addition t Reserve Fund of north. The Chinese revenue cruiser Chuentiao, 850,000, bringing this fund up to $1 250,000; on her way to the sonth, visited this port the and the carrying forward of $8 .056.19 to other day.
trengthen the current year's position, and we THE CHINESE TELEGRAPH ADMINISTRATION. Į trust this apportionment of profit will meet with As a sequel to the publication of my letter your approval. Competition has been quite us concerning the local office which appear d in keen as heretofore, but notwithstanding that our the Daily Press a long time back, the services premia income has appreciatly increased, which of the former manager here have been dis-is a satisfactory feature. Our investments are pensed with and another one appointed in on a sonnd b sis. The holding of Unit d States his place. There are not many complaints Bouds (82. 0,040 gold) stands at a very moderate heard now, but there is room yet for further cost in view of the heavy depreciation in improvements. The foreign mercantile com- silver, and mortgages, which you will munity forwarded a petition to the Eastern notice show an increase of $200,000, have Extension Telegraph head office asking for all been favourably reported upon by our the establishment of a branch here. Consider surveyors in their anual valuation report ing the great commercial importance of t is The present year's working shows an estimated port it is trusted the Company will accede to credit balance at 30th September of $579,514, the wishes of the business houses here.
but I regret to say that this amount has bean encroached upon since the publication of the report, ar losses meanwhile having been in the neighbourhood of a lakh of dollars, a circumstance which illustrates the prudence of carrying forward literally from year to year. There is nothing further worthy of note to report, but I shall be pleased to answer any questions shareholders may desire to ask.
CORRESPONDENCE.
We do not hold ourselves responsible for the opinions expressed by our correspondents.]
THE VOLUNTEER CORPS.
11
There being no questions. on the motion of the CHAIRMAN, second by Mr. HUNTER, the report and accounts as presented were adopted and passed.
Mr. ORANGE mored that the appointment of Messrs. Brown aud Lewis to the Consulting Committee be confirmed, and that the retiring members of the Committee he re-elected.
and carried unanimously.
This proposal wis seconded by Mr. Ho TUNG
TO THE EDITOR OF THE DAILY PRESS.' Hongkong, 21st October. STB,-In the disqu sion ou the Fstimates for 1903 in the Legislative Council on Monday. the Hon. G. W. F Playfair, referring to the grant Expenses of the Volunteer Corps," is reported to have styled the item as "an altogether useless one." I think the remark is bth ill-timed and ill-considered. People better qualified to judge of the value of the
The next business was with regard to the Volunteer Corps, Major-General Gascoigne. | auditors, nd on the motion of Mr. A`DEKS `N. Colonel Brown, and Colonel Johnson.
for who
was seconded by Mr. Ho Fook, the instance, bave expressed opinions quite to the appointment of Mr. Wilcox was conû m d, and contrary of that contained in the remark he and Mr. W. H. Potts were re-elected for the attributed to the hon. member of Council.
His reflection is a poor return for the unselfishness of men who are ready and willing to give of their best to the service of the Colony.-I am. sir, yours, etc.,
KHAKI,
UNPLEASANT SCAVENGING.
TO THE EDITOR OF THE
DAILY PRESS." Hongkong, 22nd October. SIR, Will you permit me some space in your paper to make public a grievance which is fast becoming intolerable? I wish to refer to the vigorous work daily carried on by the scavengers between noon and I p.m. ou the Glenealy and adjoining roads. At this hour these roads are mostly frequented and it is needless for me to dwell on the great incon- venience and the extreme peril faced by all who pass through the tainted atmosphere which then pervades the whole of that locality. It occurs to my mind that the sweeping of the roads should be done at a time when they are empty, but there may be potent reasons against such a course which I quite fail to comprehend.- Yours, etc.,
SUFFERER.
ensuing year.
This was all the business. Dividend warrants will be ready to-day.
THE NORTH CHINA INSURANCE CO., LD.
The following is the report for presentation to the eleventh ordinary general meeting of shareholders. to be held at the Offices of the Company, No. 10, The Bu d, Shanghai, to- day, at 4 p.m.
325
White and Wrightson again tender their ser vices to the shar holders.
By order of the court of directors,
WM. GEO. BAYNE, Becretary,
Shanghai, 11th Cotober, 1902.
Th accounts are as follows:-
BALANCE-SHEET
Dr.
On the 0th June, 1902.
To capital account :---
Taels.
5,000 shares at £25 £125,000.0.0 at 2 3₫ 1,085,972.85 To reserve fund
To working account, 191 :—
Amount brought forward
from below Deduct-
Interim share dividend
360,000.00
Taels. 223,209.21
.... 42,477.88
180,731.33
200,964,32
3,344.69
138,239.22
To working account, 1992: —
Amount brought forward from below To dividends n collected To sundry creditors
Cr.
Taels 1,969,252,41
By cash on current and deposit accounts
in Shanghai
By Chinese Imperial Government loan of
1886 (E. issue)
By Shanghiyanicipal loans By Sh nghai Land Investment Co.'s 5 per
cent. debentures
By Shanghai Land Investment Co.'s 6 per
cent. debentures .
By Shanghai Waterworks Co.'s 5 per cent.
debentures ly Shanghai Waterworks Co.'s 6 per cent.
debentures
£5.834 1 5 19.685 6 6 18,994 6 IL 26,980 17 +
By shanghai Mutual Telephone Co., Ltd. By mortgages on property in shanghai By London freehold premises By London branch-alance, viz. -
ash at b.nkers British Govt. securities Indian Govt securities Colonial Govt securities Chinese Govt. 5 per cent.
loan of 1896 Chinese Imperial Failway
5 per cent. loan of 18 9. Japanese Government 4 per
cent. loan of 1899
..
11,044 14 7
4,790 0 0
8.745 2 0
English railway securities 5,179 6 1 Indian railway securities... 18,768 14 0 Canadian Pacific Railway 5
30) 0 0
per cent. mortgage debts. 5,641 5 0 Furniture accounts-Lon-
don and Manchester Premia outstanding, billa receivable, policy stamps and drafts in course of collection
6,454 19 7
£132,418 13 5 11,5 417 9
Less - Due to sundries
By balance at branches By furniture at head office and branches By sundry dehtors
Dr.
Taels.
141,650,43
18,000,00 94,937.50
6,684.02
70,105.81
9,600.00
20,210.00
490.00
113,000.00 332,864.45
50,472.69
62,567.71
2,473.55
46,346.25
Taels 1,969 252.41
WORKING ACCOUNT, 1901.
The directors beg to submit for the informa- tion of shareholders the annex d daly au 'ited statement of the Company's accounts to the To net premia 30th June, 1902.
1901.-An interim dividend of 4 per cent.. aggregating taels 42.477 83 was declared on the 1st May last, and after deducting this amount from the balance of the working account, there remains a sum of taels 180,731.33, which the directors recommend should be appropriated in the following manner :-
A final dividend of 4 per cent. on paid-up
capital.
Abocus of 10 per cent. upon contributory
premiums.
And the balance to be retained to meet
further liabilities.
1902. The balance at credit of working account to the 30th Jane amounts to taels 200,964.32.
DIRECT RS.
CANTON INSURANCE CO., LD, The 21st ordinary general meeting of the above Company was held at the offices at noon on Thursday. The Hon. C. W. Dickson (Chair- man of the Consulting Committee) presided. and the others present were Messrs. F. Mait- land, J. H. Lewis D. M. Moses (Consulting
Mr. W. H. Poate having resigned bis seat on the board Committee), E. C. Emmett (acting secretary),
од bis departure for B. C. Wilcox, G. C. Anderson, J. Orange, K. A. Europe, Mr John H. Osborne was invited to Chinoy, A. V. Apcar, H. R. H. Hunter, W. A.fill the vaclucy thereby created. Mr G. A. Cruickshank, K. McK. Ross, P. Tester, Ho Matthews also resigned on leaving for home. Tang, Ho Fock, Ho Kum Tong, and Leung the regulations of the Company. but, beiog Cheng Shiu.
The notice convening the meeting having eligible, offer themselves for re election.
been read,
The CHAIRMAN, before entering upon the business of the meeting, said-I desire to express, on behalf of the General Agents and Consult ing Committee, their sincere regret at the loss'
All the directors retire in accordance with
AUDITORS.
The accounts have been audited by Messrs. White and Wingrove (the latter acting for Mr. Wrightson, daring his temporary absence) and their term of office having expired, Messrs.
i
'1 o interest
To transfer and certificate fees To exchange account
Cr.
By agency commissions
Taela. 613,747.34
62.589.53
59.00 53,439.60
Taols 729,835.47
By charges at head office, branches and
agencies
By directors' and auditors' fees
By income tar
By depreciation furniture account... By losses and claims..
Trels. 11,92 .71
133,544.33
4,900.00
6,640.84
264.91
349,355.47
By balance carried forward....................................... ........ 223,209.21
Taels 729,835.47
31,436.89 33.00
28 514.17
WORKING ACCOUNT, 1902.
Dr.
To interest To transfer and certificate fees To exchange account....
Taels.
826,217.46
Taels 384,201.52
Taola. 4,195.58
61,800.91
2,450,00
1,976 33 112,754.35
2,964.32
Cr.
By agency commissions
By charges at head office, branches and
agencies
By directors' and auditors' fees............................ By income tax
By losses and claims -
By balance carried forward
Taels 384,201.52
Niliowaniah Want Y