March 9; 1903.]
vaikert Be AUDITOES.
Messrs. W. H. Potts and A. O'D. Gourdin || have anditéd the accounts now presented and offer themselves for re-election.
Hongkong, 2nd March, 1903.
C. W. DICKSON,
Chairman.
The accounts are as follows :---
: Dr.
BALANCE SHEET. 81st December, 1902. LIABILITIES.
To capital (30,000 shares at $50 fully paid
up)
CHINA OVERLAND TRADE REPORT.
Cr.
By bal nce from last account
177
85,500.00 128,370.72 CHINA SUGAR REFINING CO. LD.
Brought forward
Transfer to depreciation and
repairs account
20,000.00
Amount written off :-----
Wharves
1,138.09
Launches
4,900.00
Lighters
10,363.99
Railways and rolling stock
6,071.48
Machinery and plant
2,852.12
Amount carried to new account
14,481.60
134,427.87
$ c.
1,500,000,00
422,569.08
250,000,00
To reserve fund
250,000.00
To depreciation and repairs account
51,448.72
To unclaimed dividends
5,503.50
To sundry creditors :-~~-~-
Directors' and auditors' fees $*0,500,00 Final dividend
75,000,00
To balance
Accounts payable
191,526.05
To profit and loss account, balance
277,028.03 14,481.69
Cr.
$3,271,029.04
To Hongkong and Shanghai Banking
Corporation
To debentures outstanding
To Land Investment Co.-mortgage.
Cr.
ASSETS,
By value of land and build-
iugs at Kowloon as per last account
By since expended on levell. ing land and on new buildings
By value of wharves at Kow• loon as per last account Since expended on
wharf
Less written off
By transfer from working account 1952 By unclaimed dividends forfeited
500,000.00 By transfer fees
2,326,912.63
127,461.87
2,454,374,50
new
100,000.00
1,158.09
101,158.09 1,158.09
By value of railway and roll- ing stock at Kowloon as per last account
177.00
The report for presentation to the share- holders at the twenty-fifth annual general meeting to be held at the offices of the general agents, on Tuesday, 17th Maroh, states ==
The general agents-beg to submit to share- holders their report on the Company's business for the year 1902, with a statement of socounts to 31st December last.
$282,798.00
The enormous over-production of beet sugar during the season of 1901 so disturbed the 12,402.74 balance of supply and demand all over the world 270,149.85 that during the greater part of the year under 77.50 review consuming markets were everywhere stocked with bounty-fed sugar far in excess of requirements, and prices were consequently for a long period much below cost of production.
Under these circumstances profitable working by this Company was impossible, and the business of the year unfortunately resulted in the substantial loss shown by the annexed $87,725.74 accounts.
8282,798.00 DEPRECIATION AND REPAIRS ACCOUNT.
Dr
$ c. 36.277.02 51,448.72
To repairs, renewals and improvements
during 1902
By balance from last account
$
57,725.74
By transfer from profit and loss account... 30,000.00
Dr.
To balance
Cr.
RESERVE FUND.
By balance from last account
$87,725.74
$ 250,000.00 8 250,000,04
LUZON SUGAR REFINING CO., LD.
The report for presentation to the share- holders at the twenty-first annual general 100,000.00 meeting, to be held at the offices of the general agents, on Tuesday, 17th March, is as follows:— The general agents beg to submit their report for the year 1902, with a statement of accounts to 31st December last.
70,000.00
For reasons mentioned in the last report it has been impracticable to work the refinery at Malabon, during any portion of the year 1902, and the general agents regret that there is still Meanwhile no prospect of being able to do so. current expenses are being kept as low as 33,000.00 possible, consistent with proper care of the
machinery and buildings.
Inclusive of $50,675.81 brought forward from the year 1901, the balance at debit is $62,363 31, which is carried forward to next account.
-
CONSULTING COMMITTEE,
65,000.00
Since expended on
new
rails, &o.......
11,071.48
Less written off
76,071.48 6,071.48
By value of launches as per
last account
Less written off
37,000.00 4,000.00
By value of lighters as per
last account
108,000.00
Since expended on 5 new
Kum-sing boats
2,363,99
Less written off
110,363.99 10,363.99
100,000.00
By value of land at West Point (39,062) sq. feet at $4) as per last account By value of buildings at West Point as
per last account
156,250.00
106,893.88
By value of sheer legs as per last account
3,000.00
By value of mchinery and
plant as per last account
50,000.00
Since exponded on new ma
chinery and fire engine
12,852.12
62,852.12
Loss written off
2,852.12
By sundry debtors
60,000,00
96,029.18
3,503.50
By cash on hand
Capital account
932.13
By value of coal on hand
6,9:14.90
By Hongkong Bank (unclaimed dividends)
By value of timber, iron and stores on hand
78,050.95
This consists of Hon. C. S. Sharp and Mr. J. H. Lewis, and the latter offers himself for re-election.
AUDITOR.
The accounts have been audited by Mr. Thomas Arnold, who offers himself for re-election.
CONSULTING COMMITTEE.
The Hon. C. 8. Sharp having resigned because of his approaching departure from the Colony, Mr. A. G. Wood has accepted the vacant sent, and his appointment requires confirmation. The Committes now consists of Sir Paul Chater, C.M.G., and Messrs. D. M. Moses, R. C. Wilcox, and A. G. Wood, who offer themselves for re-election.
AUD TORS.
The accounts have been audited by Mesere. Thomas Arnold and W. Hatton Potts, who offer themselves for re-election.
JARDINE, Matheson & Co., :
General Agents. Hongkong, 23rd February, 1903.
The accounts are as follows :-
BALANCE-SHEET
One year to 31st December, 1902. CAPITAL AND LIABILITIES.
Paid-up capital Sundry creditors
ASSETS.
Property account, consisting of—
East Point Refinery
Bowrington Refinery .......................
Swatow Refinery
Hongkong Distillery
Site at Soo-kun-poo.....
Cash
Raw and refined sugar, &o. Spirits and rum, &c.... Charcoal, coal, stores, &o... Sundry debtors Shipments
Less advances
.$2,000,000.00 2,905,659.95
$4,905,659,95
$
0.
1,539,194.35
1,842.84 1,104,591.57
4,9€ 9,05 3.34,406.35 118,179.65
$1,846,022.54 491,719,39
1,364.303.15
$4,467,426,96 438, 232.09
JARDINE, Matheson & Co./ General Agents.
Balance of profit and loss account
$ 3,905,859.95
Hongkong, 26th January, 1903.
The accounts are as follows :---
CAPITAL ACCOUNT. 31st December, 1902.
LIABILITIES.
3 700,000.00
Jardino, Matheson & Co.'s current account 27,223.86 Sundry creditors......................
0.
PROPERTY ACCOUNT.
To balance at debit on 31st Dec., 1901... 1,522,496 05 To now machinery, &0............................................................ 16,698,80
1,948.55 By balance at date
$1,599,194.35
$1,539,194.35
$729,172.41
PROFIT AND LO38 ACCOUNT.
+
€3,271,029.04
0.
ASSETS.
$
WORKING ACCOUNT.
Dr.
To wages of permanent staff
To Crown rent
To taxea
Property account
$ 0. 229,569.05
Hongkong and S'hai Banking Corporation Cash
To auditors' foes...
C. To commission. 629.642.43 To remuneration to consulting committee 8,500,00
1,436.48
20,154.76
750,00
71.01
To interest
148,05 1.48
11,786.02
To charges (office and telephone rent, stationery and printing, commission,
17,926.38
Coal, charcoal, stores, &c. ............................................... Sundry debtors
35,409.93
To loss on working
445,274.92
250,25
$616,738.16
$666,809.10
sundries, &c.)
26,168.11
To legal expenses
Profit and loss account.................................
571.00
To fire insurance
To claims on cargo
5,861.86
62,363.31
$729,174.41
874.52
$ By balance of profit and loss account,
0. 18,500.17 brought forward from last year By equalisation of dividend fund transferred 180,000,00 By balance
438,232.99
To expenses on cargo & coal, coolie hire, &c. 230,052,65
PROFIT AND LOSS ACCOUNT.
To expenses of launches
16,385.47
£616,739.16
To expenses of lighters
C.
To balance to profit and loss account
Cr.
13,974.22 To balance from last year 270,140.85 To salaries, wages, fire insurance, &c... $823,310.13 To auditor's fee
$
823,310.13
Dr.
$ 0.
By wharfage, storing, &c.
PROFIT AND LOSS ACCOUNT.
To interest.
To interim dividend
To balance appropriated as follows:—
Directors' and anditors' fees-$10,500.00 Final dividend
75,000,00
68,370.72 By gain in exchange 60,000.00 By balance
50.00
It is intimated in the Government Gazette that Dr. Francis Hall-Wright has been put $62,377.36 upon the register of medical and surgical practitioners qualified to practise in the Colony. Dr. Hall-Wright is a licentiate of the Royal 14.25 College of Physicians of Edinburgh, a licentiate 62,363.31 of the Royal College of Surgeons of Edinburgh nd a licentiate of the Faculty of Physicians
Surgeons of Glasgów.
$62,87%
C.
69,675.81
9,874.40 1,777.35