June 29, 1903.
The accounts are as follows:-
STATEMENT OF ACCOUNTS
Capital:-
Td 30th April, 1903. LIABILITIES.
$ C.
340 shares cadlı 8:0 nail up 30,000,00 300 shares each $5 pail up 150,000,0
Sundry creditors
Dividends untlaimb
Suspense account
Hongkong and Shanghai Bank
Balance of profit anjl logs account
C.
CHINA OVERLAND TRADE REPORT.
£30,174 1 a. 7d., aud it is recommended that a dividend of 5 per cent., free of income tax, be declared, thus absorbing £24,794 108., and leaving £5,380 58 71. to be carried forward to the new account.
The Company's fleet has, during the past 45,000.00 year, been further strengthened by the addition 6,48.0 of the new steamers Yik Sang. Choy Sang and 2,039.53 Kwong Sang, in replicement of vessels sold at 1,757,29 2,906.81 satisfactory prices.
Two additional steamers 82.167.11 for the cost trade were contracted for during
the year and both have now been delivered.
The board have not availed of the proposed increase of capital alluded to at the last annual meeting.
$515,951.74
ARSETH
$
Plant, cost of, as per latine-
coun
६ 315,402.57
C.
Less amount provided for
ciation
pre-
Cost of plant since added
25,462.57
$29 400 401 44,741.11
as per
Property, cost of land and buildings
last account .
Installation material, stock of.
Stores and coal, stop of
Tools, &e.. stock of
Insurance-value of unexpired portions of
C:
334,744.11
82.211.97 72.443.80 15,687.68 1,192.10
Furniture. cost of, as for list
$
count
425.00
Cost of furnitu e diuce added
143. 0
policies
Sundry debtors
Cash with agents
#73.
901 60 32,8 19.9.1 5,36 1.18
$545,954.74
WORKING ACCOUNT.
Dr.
To agericy and office expenses
To rint and taxes
To auditors' fees
To amount carried:
To insurance
To interest
X c.
- 6,000.00)
2,683.75 2, 83.24 9.21 2:0, u
prátil had loss account 8,891.72
There has been some improvement shown in the freight market this season over the earnings of last year at same time, but it is not possible to forecast from present prospects what results may eventually be realised.
The directors deplore the unexpected death of their late chairman, who had been on the board since the formation of the Company, and they have just learned with regret of the death of Mr. W. L. Watson, who had retired from the
board in 1901. The directors have appointed Mr. H. Beazley, a well-known former resid ut in Chius, to the board, and his appointment requirs confirmation. Mr. W. Paterson, who retires in rotation, offers himself for re-election. The auditors, Messrs. Turquand, Youngs & Co., likewise offer themselves for re-election.
By order of the board,
A. G. WELLS, Secretary,
London, 2nd May, 19:13.
'The accounts are as follows:-
BALANCE-SHEET, 'at 31st December, 1902.
LIABILITIE3
To share capital: Authorised £1,270,000
first is me 60,000 shares each £11, whereof £9,58 : subscribed and fully paid up
To balance of underwriting account
To general reserve fund
To exchange reserve account
To deposits
To balance from revenue account
£ 8. d.
495,89 0 0 200 0 0
100,00 € { 310
To sundry creditors in London and China. 63, 170 8 To loans
54,000 0 0 63,645 0 6 | 3017415 7
£1,047,083 10 1
£ *. .
$2.232.92
Cr.
I'y net profit on working
By scrip and transfer fees
$ C. 9.18.81 35.50
By bad debts recovered
:32. €
Less provision made for bad debt-
of the past year ...
16.41
13.60
$J2.232.92
ASSETS.
PROFIT AND LOSS AC OUNT.
Dr.
To amount available for appropriation
CY.
By amount of undivided profit, as per last
account
$ c. 82.167.11 * C.
1.275.30
By steamships, hulks, ferry £ s. d.
boats, &c.
9-4,249 2 1 Less depreciation written
59.185 0 0
402501 3 1
By balance of working count brought down 80,891.72
$ 2.167 11
off for this year
This includes the value of s.s. Kure- shing, clained from the Chinese Government.
By coals and provisions on board ships
and in godowns
By office furniture .
By sundry debtors in London and China,
agents balances, freights, &c
INDO-CHINA STEAM NAVIGATION || By eash in London and China'
CO, LD.
The following is the twenty-first annual report of the board of directors of the above Company presented to the shareholders at the twenty-econd ordinary gou ral meeting, bøld at the offices of the Company, ou the 4th June,
at uoou:-
The depressed condition of the shipping trade in the rar East during the year under review will have prepared shareholders for financial resul'such legs sat sf ctory than the haudsome ea nings of the two previous years. Notwithstanding serious adverse circumstances, however, it is gratifying that, after crediting over £36.00 for the usual premium of insurance to underwriting accourt, the 18 no can still provide (with the aid of the sam brought forward from 1901) for incomo ax. interest | charges, and also 59185 for depreciation on steamers, and yet leve a credit bilanc
;
any
Owing to these causes a dividead could hard- ly have been look d for, but the absence of to al loss or of serious damage to the Fleet for a long period Lasllowed of an accumulation of profit on the under i ing account, which nearly equals af i paid-up capital of the Company, and the lifectors consider this account has reachel sue dimensions that they are justifio ‹ in the interests of the shareholders in transferring £8635 163. 91. to revenu“, I aving till the large sum of £240,000 at crestit of underwriting account.
2
This transfer increases revenus account to
Dr.
+
11,506 810 68 110
102 621 7 5 8,420 911
£1,047.683 10 1
REVENUE A COUNT.
To general charges and telegrams in London and China, directors' and anditors' fees
To depreciation account On steamships, &e Un office fur. iture
To income tax account
To interest account
£39,185 0 0 10 0 0
£
8. d.
5.351 5 8
29,195 0 0 7,977 5 10 4,153 14 9
To balance transferred to balance sheet 30,174 15–7
Cr,
£106,855 110
£ 8. d.
REVIEW.
A Manual of Chinese Quotations. By J. H. STEWAT LOCKHAR C.M.G.. F.R.GS., M.R.A.S, H B,M.'s Commissioner - {at Weihaiwei. THE
Hongkong: Kelly and Walsh. first adition of our late Colonial Secretary's Manual of Chinese · Quotations, published in 1893, is too well known among Chinese students to call for ommendation at this date. Mr. Stewart Lockhart's translation the hands of scholars and had established its of the Cheng Yi K'ao has for ten years been in reputation among them as a standard work of its class. That a second edition should be called for occasions therefore ne surprise, rare though the reappearance of a book dealing, with the Chinese language may be-as is pointed out in the introduction to this e i'ion of the work before us.
mistakes of the first edition have been corrected In the new issae of the Manual the
as far as possible, in some instances, improvel translations have been given of the Chinesequota- tions, and an English index has been made- great number of references to the sonroos of the the latter a very necessary addition. Also a quotations have been added. The author acknowledges his indebtedness for help in revision, correction, ote, to Mr. Oscil Clement Assistant Registrar-General in Hongkong
one of the most promising of the younger generation of Chinese scholars"; to Messrs. R.G.O.; and to Au Fang-ch'i and Li Kin-ching, of the local Fèro Corentin Pétillon's Allusions Literaires and various reviews of the first edition of the Manual. The book is dedicated to the late rofessor Legge and Dr. Chalmers, both of whom have died since the first edition appeared
4
To the publishers, Messrs. Kelly and Walsh, much credit is due for the way in which this Manual of Chinese Quotations is produced. The printing is excellentic ear and the paper good. In view, no doubt, of the ravages of the climate the work appars in a paper cavar. Bound according to the possessor's fancy, the Manual s'ould be in all Chiusse stalents" libraries.
HONGKONG.
The visitors to the City Hall Library and Museum for the week ending 20th June were 274 non-Chinese and 74 Chinese to the former, and 43 uon-Chiness and 1,593 Chinese to the latter institution.
There are rumours that Hongkong will send a cricket team, a rowing four, and possibly a football cleven to Shanghai this autumu. The four have aleady challenged, but the other contests sem doubtful.
The compulsory daily admizistration of qui- uine pills to the members of the Police Force has been discontinued. It seems that a sudden order for between 4,030 and 5,000 pills to meet the week's requirements paralysed the pill- mix'ng department.
With r ference to the request made by Mr. Pollock at the Sanitary Board for the publica- tion of the memorandum of Dr. Pearse upon the construction of certain provisions of the Public Health Ordioauce, 1 of 1903, we were informed upon enquiring at the Sanitary Office that the document ba】 been withdrawa.
Senders of telegrams from Hongkin will. be glad to hear that from the 1st prox tho
By balance brought forward from 19 1... 17,657 16 6 charges for transiniss on will be collected at ty net cam gs of steamers for the year
including profit on exchange
By amount transferred from underwrit-
ing account By dividend warrants outstanding, now
transferred By transfer fees
39,912 11 4
28,655 16 9 59 16 9 28 176
£106,855 110
Rear-Admiral Kamikura writes to Japan that the Japanese Training Squadron has had a most cordial reception in the Australian ports it has visited. Áduiral Baron Yamamoto, Minister of the Navy, his wired to the Governor-General of Australia his sincere thanks for the cordial treatment accorded to the officers and men of the Squadron,
|
|
the rate of 48 cents to eqail one fran: Oa the 20th December last the charge was advanced f on 40 cents t 43 cmts, sal again. on the 26th March to 51 cents--the rats at present existing. The price is subject to revision after three months.
1.
The completed portions of the tram lines are proving traps for the unwary ricksha-puller, The wheels of whose vehicle frequ ntly become
·locked" in the rails, which they s an exicily. Que ricksha the other day was so firmly caught that the passenger had to aligat whilst the coolie liftal it out. Acilents may happen, and either ricksha-pu'lers will have to be more careful as to the part of the roadway they, fravel on, or the wheels of the vehicles will require to have a broader rim,
4