April 9, 1904.]
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at the end of the present year,-the, production will be increased by about 4,500 tons per annum. At Hok Un it has been discovered that with the experience gained in firing, etc., the kilns turn out a greater quantity of clinker than was estimated, and more than the mills can grind. and it is purposed to erect more grinding plant. and secure an increase of 6,000 tons here. From the two establishments we shall get therefore about 60,000 barrels per annum more, and no difficulty is anticipated in selling this extra quantity, as the present sales keep pace with all that is manufactured. The high quality of the cement has been well maintained, and its excel lence is appreciated wherever it goes. Con- sumption has increased, expecially locally, the several large engineering undertakings at pre- sent under way in the Colony absorbing a good percentage of the output. These undertakings will be completed in time, but new ones will no doubt arise in their place as we need not con- template any failure on the part of Hongkong to continue its progress, and the vitality of sport nowadays is well estimated by its ability to absorb cement. The anxious feeling
had about supplies of lime. stone has now disappeared in the face of the quantity brought down from the country last summer, and at the beginning of this last dry season there was nearly a ten months' stock on our hands. We must aim to constantly keep that quantity in sight. The brick and pipe works at Deep Water Bay have been improved. and the output is larger and better. The plant is yet, however, inadequate to supply the demands of the Public Works Department, and many orders go past us to the factories at home. The Company's overdraft at the bank is a large one, but as we are doing so well we think it justifiable to pay the proposed dividend. especially as ample provision has been made for depreciation. The overdraft to- day stands at about £350,000 Before proposing the adoption of the report and accounts I shall be pleased to answer any questions.
We
There being no questions. I beg to propose the adoption of the report and accounts as presented.
Mr. J. R. MICHAEL-I beg to second. Carried unanimously.
Mr. T. F. HouGH-Mr. Chairman. I have much pleasure in proposing that Sir Paul Chater, Mr. C. W. Dickson, and Dr. J. W. Noble be re-elected on the Consulting Com.
mittee.
Mr. C. KLINCK :-I beg to second. Carried unanimously.
Mr. MURRAY BAIN--Mr. Chairman. I beg to propose that Mr. T. Arnold and Mr. W: H. Potts be re-elected as auditors.
Mr. D. HASKELL:-I beg to second. Carried unanimously.
The CHAIRMAN:-That is all the 'business. Dividend warrants will be ready this afternoon. Thank you for your attendance.
CHINA OVERLAND TRADE REPORT.
Reserve for depreciation of Bank's premises, properties, furniture, &c. Reserve for silver funde
Deposita (urrent, fixed. &c.) Bills payable. bills re-discounted, ac
ceptances, and other sums due by the Bank Dividends unclaimed Amount brought forward from last ac- Net profit for the past half-y.ar.
count
Cash account :
In hand
At bunkers
ASSETS.
607,345,000 400,00. .004 72,871,851.656
118,119,466,204 4,897.520
Results were as follows :-
283
LONG JUMP (Three tries).-First Prize pre- !sented by Messrs. David Sassoon, Sons & Co.; Second Prize presented. R. Hancock (17 ft. 9 in.). first; H. Arthur (17 ft. 7 in.), second; J. Witchell (17 ft. 4 in.), third.
THROWING THE CRICKET BALL (Three tries).First Prize presented by Hongkong Cricket Club; Second Prize presented. R. Hancock (92) yds.), first; N. H. Rutherford Yen 221,2-0,837.954 ¦ (90} yds.), second.
Yen. 5.110,030.310 5,316,010,860
Investments in public securities... Bills receivable and other suis due to Bills discounte, loans, advances, &c.
the Bank
Bullion and foreign money Bank's premises, properties, furni
ture, &c....
555,245.551 1,062,422.333
Yen.
HIGH JUMP (Three tries). First Prize presented by Mr. T. P. Cochrane Second Prize presented. J. Witchell (5 ft. 0 in.). first;
C. Rees (4 ft. 11 in.), second.
10,456,041 170 120 YARDS FLAT RACE (Handicap).-First 61.092,455. 10 prize presented. 22,113 46.08prize presented by Mr. J. R. M. Smith; Second
First Heat:--E. R. Herton, 1; 124,242,316,184
R. Pestonji, 2. Second Heat:-H. D. Bell, 1; J. P. Jordan, 2. Third Heat:-J. H. A. Hance, 1; H. C. Austen. 2.
5:0,676.22
1,77,883,19:
Yen 221,900,817.954
PROFIT AND LOSS ACCOUNT,
Yen. To curent expenses. interests, &c. 5 597,551.837 To reserve fund
110,00,000 To dividend -yen 6,000 per share for 124,000 old shares yen 7200.000; and yen 3,000 per share for 12,00 new shares yen 360,000,00
To
.1,080,000.0
balance carried forward to next account 427,667.88
Yen 7,215,219.7.1
Yen. 555,245.551
By balance brought forward 30th June,
1903
By amount of gross profits for the half-
year ending 31st December, 19036,659.974.170
Yen 7,215,219.721
V.R.C. ATHLETIC SPORTS.
THE SECOND DAY.
Fourth Heat:--W. T. Andrews. 1; H. Hancock, 2.
Final-R. Pestonji (13 3/5 secs.), first; J. H. R. Hance, second.
BICYCLE RACE.-One mile handicap. Start in saddle. First prize presented; Second prize presented. Austen (2 min. 45 3/5 secs.), first; Witchell, second; Forbes, third,
>
100 YARDS FLAT RACE (Challenge Cup).- Presented by Dr. F. H. Kew. To be won three years before becoming the property of a Compe- titor. First prize presented by the China Sugar Refinery Club; second presented.
First Heat:E. R. Horton, 1; A. J. V, Ribeiro, 2.
Second Heat:-J. P. Jordan. 1; N. H. Rutherford, 2.
Third Heat-H. Hancock, 1; J. H. A. Hance. 2.
Final:-Jordan (11 1/5 secs.), first; Hancock, second; Hance, third.
TUG OF WAR.-Open to Non-Commissioned Officers and men of Army and Police (Indian). - Each Regiment or Corps may enter one team only; 8 men a side.
The 80th Co. R.G.A. beat H.M.8. Cressy. pulling the latter over twice in three tugs. -
In a Native Tug of War, between two teams of the H.K.S.B.R.A.. M. Bur's team Was victorious.
BICYCLE RACE (Two miles Handicap, start in saddle).-First prize presented by Mr. W. Farmer; second prize by Mr. F. W. White; third prize presented. H. C. Austen (5 min. 45 secs).. first; Witchell, second.
HALF MILE FLAT RACE (Scratch).--First and second prizes presented by the Taikoo Club. A. Humphreys (2 min. 12 3/5 secs.), first; J. J. Watson, second.
120 YARDS HURDLE RACE (10 flights). -Previous Winners at Hongkong or elsewhere to be penalised 2 yards. First. prize presented by Mr. A. Denison; second. prize presented by Mr. W A. Crake.
First Heat:-E. F. Ancott. 1; W. T. Andrews, 2.
The Victoria Recreation Club's athletic meeting was concluded at the Football Club ground. Happy Valley. on the 4th instant the weather being simply horrible. Rain fell in torrents, so that practically the only spectators were those who had tickets for the stand. Owing to the ground being so heavy times in many events did not come up to expecta- tions. This was the seventh athletic meeting of the Club, and. as usual. Was held under A.A.A. rules. Some of the events were open to amateurs who are members or visitors of the Hongkong Club, Club Germania. Lusitano. Cricket, Taikoo, Bowling, Hongkong Boat and Victoria Recreation Clubs, and also to officers of H. M. Navy and Army. The patrons were His Excellency Mr. F. H. May. C.M.G.. His Excellency Major-General Villiers Hatton, C.B.. His Excellency Vice- Admiral Sir Gerard Noel, and Commodore C. G. Dicken, R.N.; Committee. Messrs. Arthur Chapman (Chairman), W. Armstrong, The following is the forty-eighth report of M. Hazeland, F. G. Humphreys, Thos. Meek, W. S. Bailey, G. A. Caldwell, W. A. Crake, Ě. the Yokohama Specie Ban, Ld. (Yokohama E. W. Mitchell, and A. Rodger. Judges, Shokin Ginko), presented to the shareholders Mr. W. Armstrong, Lieut. J. P. Shipton, at the half-yearly ordinary general meeting,R.N., Mr. E. W. Mitchell, Lieut. Macdonald, held at the head office, Yokohama, ou the 10th R.G.A., and Mr. A. Rodger. Handicappers, March:-
Mr. T. Meek, Mr. F. W. White, Dr. F. H. Kew. and Lieut. Macdonald, R.G.A. Clerks of the Course, Messrs F. Lammert, W. A. Crake. R. H. B. Mitchell, and T. Meek. Starters, Mesars G. A. Caldwell and E. M. Hazeland. Time Keeper, Mr. R. H.
Messrs. F. W. by Stephenson. Lap Scorers, White and C. E. A. Hance. Hon Treasurer, Mr. R. H. B. Mitchell. Actg. Hon. Secretary, Mr. Harold C. Austen. Mr. J. Lesbirel, too, was very hard worked. The band of the 110th Mahratta Light Infantry played the following selections :-
YOKOHAMA SPECIE BANK, LD.
The gross profits of the Bank for the past half-year, including yen 555,245.551 brought forward from last account, amount to you 7,215,219.721, of which yen 5,597,551.837 have been deducted for current expenses. interests, &c., leaving a balance of yen 1,617,667.884.
The directors now propose that yen 110,000.000 be added to the reserve fund, raising it to yen 9, 20,000 000. From the remainder the directors recommend a dividend at the rateffof twelve per cent, per annum, which wil absorb yen 720,000,000 on old shares and yen 360,000.000 on new shares, making a total of yen 1,080,600.000. The balance, yen 427,667.884, will be carried forward to the credit of next account.
NAGATANE SOMA, Chairman. Head Office, Yokohama, 10th March, 1904.
BALANCE-SHEET, 31st December, 1903.
LIABILITIES.
Capital paid up
Reserve fund..
Reserve for doubtful debts
Yen. 18,000,000.003
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March Selection Valso
25
Frangesa Country Girl Toreador"
Sousa. Monckton.
Royle.
Suppé. Macbeth. Berger. Bucalossi.
Selection Barrack Room Ballads Gerard Cobb. Overture Bauer and Dichter"
Valse ... "Venetian Boat Song"
Serenata
Love in Idleness
Cake Walk
"Jolly Negroes
La Poupee Musical Comedy
9,210,000,000 Selection
869,609.690 Belection
Audran. Kitty Grey.
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Second Heat:-H. Hancock, 1; J. H1 Witchell, 2.
Third Heat:- Menecal, 2.
-E. R. Herton, 1; D. A.
Fourth Heat-J. P. Jordan. 1; N. H. Rutherford, 2.
Semi-final-H. Hancock, 1 J. H. Witchell 2 Semi-final-N. H... Rutherford, 1; J. P. Jordan, 2.
Final-H. Hancock, 1; J. P. Jordan, 2. 220 Yards FLAT RACE (Handicap).-First Prize presented by Commodore C. Dicken, R.N.; second príze
Gi presented Mr. W. Armstrong. First Heat-A. J. V. Ribeiro, 1; J. H. A. Hance and A. Marti, dead heat for second.
Second Heat:-F. K. Tata, 1; A. Loureiro, 2; J. P. Jordan and H. P. Wippell, dead heat for third.
Third Heat--C. T. Cooke, ; E. F. Aucott, 2; W. T. Andrews, 3.
FinalF. K. Tata (25 2/5 secs), 1; H. P Wippell, 2.
THREE-LEGGED RACE.-(100 yards).—First prize presented by Mr. Hart Buck; second prize presented.
A. J. V. Rebeiro and A.. V. Barros won this, TUG-OF-WAR.-Open to Non-Commissioned Officers and Men of Navy, Army and Police. Prizes presented.
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