May 30, 1904.]
A. S. WATSON AND CO., LD.
The following is the report of the General Managers for the year ending 31st December, 1903, for presentation to the shareholders at the nineteenth annual ordinary General Meeting of the Company (since its registration) to be held at the Offices of the Company in Alexandra Buildings on Tuesday, the 31st May, at 11 o'clook :-
Gentlemen.--We beg to lay before you a Statement of the Company's business with a Balance Sheet for the year ending the 31st December, 1803.
The Net Profits of the Company for the twelve months under review, after paying all charges, including the salary of the General Managers, and providing for all bad and doubt- ful debts, amount to .....
To which has to be added the balance brought forward from the previous year
From this there has to be deducted-
General Manager's Com-
mission of 5 per cent. on the
net profits for the year as
per Article 80 of the Com.
pany'sArticles of Association $5,121.32
Remuneration of the Con-
'sulting Committee as per
Article 92
444
102,426.49
CHINA OVERLAND TRADE REPORT.
Less amount unclaim-
ed at 31st De- cember, 1903
ASSETS.
405
4,507.00
10,000 shares at $10 each, $5
paid ap
50,000.00
150,000.00
25,433.00
To reserve fund
60,000.00
8,071.45
To insurance fund
15,093.75
To unclaimed dividends.
$1,732,914.19
To accounts payable
421.30 10,320.18
To directors' and auditor's fecs
1,100.00
$ C. 1,187,969.70 To bonus
214,950.10 9,381.06
Io dividend.
27,000.00
To balance of profit and loss a count
6,000.00 1,237.06
$271,222.49
2',384.93 8,205.36
ASSETS.
0.
By value of boats as per last
0.
account
150,000.00
1,200.00
Less value of Guiding Star
and Morning Star sold
48,000.00
102,000.00
Total s'ocks in trade Good debts due from customers Good debts due from sundry debtors Cash in hand
$12,429.61 Cash at bankers
7,955.32
Fe insurance premia unexpired Investments in public companies
North China Insurance Co., Ld. Hongkong Fire Insurance Co., Ld. Section E of inlan 1 lot No. 19
and the buildings thercon $60,000.00 Marine lot No. 2 C
1903 3,077.96
December, 1902 19,870.36
Since expended on 2 new boats 44,875.00
and the buildings
thereon, at 31st
140,875.00
December, 1902 $156,801.38
Less written off
10,875.00
Additions
during
136,000.00
17,116.44
By value of goodwill as per last
173,917.82
account
4000.00
Remaining portion of
Less written off
000.00
$105,504.45
Kowloon inland
lot No. 550 and
the buildings
thereon, at 31st
,
account
Lese written off
Additions during
By value of turnstiles as per last
By cost of alterations to Ice
$1,500.00
1,500,00
19.3
4,936.7.1
House Street Pier as per
San Jacinto, land and buildings,
Manila
24,807.09
31,098,13
last account
$1,500,00
Less written off
3,500.00
2,500.00
7,6 1.32
233.823.01
$1.732,119
By accounts receivable
739.29
By Hongkong and Shanghai Bank
By Hongkong and Shanghai Dauk No. 2
account
7,781.70
421.50
Dr.
C.
By Hongkong Hotel debentures.
30,000.00
PROFIT AND LOSS.
To balance.. Cr.
105,5 4.45
$
C.
By Hongkong and Kowloon Wharf and Godown Company, Limited, loans. By cash in hand
93,000.00
300.00
CONTRA.
3,077.96
102,426.49
3271,222.49
$105,5 4.45
PROFIT AND LOSS ACCOUNT.
To repairs and alterations to boats To insurance fund
$ 0,
7,843.7u
10,095,95
Leaving an available balance of ...$97,883.13
We paid su Interim Divi-
den of 5 per cent. in No-
vember last absorbing ... $30,000.00
And we now propose to
pay a further Dividend of per cent. (making 10 per cent. for the year) which will absorb
To write off Furniture, Fittings, Utensils of Trade. Lighters, Soda Water Plant, Machinery and Building Additions
To carry forward to 1904 Account...
30,000.00
35,000.00
2,883.13
By balance forward from 1992 ..
By net profits in Hongkong, China and
Manila for 1903
G.
ཐ་ 337.06
CONSULTING COMMITTEE.
$97,883.13
The exisiting Committee consists of Hon. Sir C. P. Chater, C.M.G., Messrs. C. Ewens, E. Osborne, H.. P. White, and R. C. Wilcox. The appointment of Messrs. Osborne and White requires your confirmation.
AUDITORS.
The Company's Accounts at the Head Office have been audited by Mr. Francis Maitland and Mr. W. Hutton Potts, who offer themselves for re-election.
The accounts are as follows:
BALANCE-SHEET. 31st December, 1903. LIABILITIES. $
Capital account.
Permanent reserve fund
Reserve fund to meet contingen- cies or for the equalisation of dividends
|
"STAR" FERRY COMPANY, LD.
The following is the report for presentation to shareholders at the sixth ordinary annual meeting to be held at the Company's office, No. 2, Connaught Road, at noon où the 1st June
-:
The directors have the pleasure to submit to shareholders their report, with a statement of accounts for the year ending 30th April, 1904.
ACCOUNTS.
all working expenses were $55,694.42 as against The net earnings of the boats, after paying $42,973.50 last year, being an increase of $12,710.92.
་
The amount at credit of profit and loss ac. count after paying for repairs and placing 87,343.75 to credit of insurance fünd, is $80,262.06 which, with the approval of share- holders, it is proposed to appropriate as follows:-
Directors' and auditor's fees Dividend of 18
per cent.
Write off boats
Written uff goodwill
Written off hous
To balance appropriated as follows
Directors and auditor's fees $1,100.00 Dividend of 18 per cent. Bonus of 4 per cent
27,000.00
6,000.00
10,875.00
4,000,00
1,500 00
3,500.00
25, 00.00
1,287.06
80,262.06
$97,641.71
Written off turnstiles Written off Ire House Street
pier
Transferred to reserve fund... Carried to new account
By net earnings of boats By balance from last account By interest By scrip fees.
By difference between written down value and sale price of Morning Star and Guiding Star..
55,884.42 5,007.23 63.00
36,550.00
$97,641.71
RESERVE FUND.
..8 1,100,00 27,000.00
B.
To balance.
60,000,00
0.
C.
600,000.00
Bonus of 4 per caut.
6,000.00
60,000.00
250,000.00
10.875.00
Goodwill
5+
4,000.00
By balance from last account
35,000.00
Turnstiles
*
1,500.00
By transfer from profit and loss account...
25,000.00
25,000.00
Local and general liabilities in the East and America Local and general liabilities in
London
875,000.00
247,4°4.97
71,812.44
Ice House Street Pier Transfer to reserve fund Crry forward to new account
3.500.00
25,000,00
$60,000.00
1,287.06
INSURANCE FUND.
C.
$80,262.06
To balance
15,093.75
3:9,297,41
Mortgage on section E of inland lot No. 19 and the buildings thereon.
Mortgage on marine lot No. 2
Cand the buildings thereon 140,000.00
Mortgage on remaining portion
of Kowloon inland lot No.
550 & the buildings thereon 25,000.00 Mortgage on San Jacinto pro-
perty, Manila
22,522.51
Bills payable Hongkong and Manila Unclaimed dividends
Security deposits from staff
Profit and loss-
Forward from 902 $ 3,077.96
Net balance 19:8 102,426.40
Less interim dividend
of 5 per cent. paid
in Nov., 1903 ... $30,000,00
105,504.45
55,000.00
242,522,54 192,959.19 8,413.60 11,650.00
BOATS.
The Guiding Star and Morning Star have been sold and are to be replaced by two new hoats of an improved type, the first of which will be delivered shortly.
DIRECTORS.
In accordance with the articles of association Mr. N. A. Siebs retires, bat offers himself for re-election.
AUDITOR.
Mr. W. H. Potts has audited the accounts now presented and offers himself for re-election.
BALANCE SHEET,
30th April, 1904.
LIABILITIES.
To capital-
10,000 shares at 10 each, fully
paid up
$
C.
100,000.00
By profit and loss account By balance from last account
On her last trip to the United States the Korea took as a passenger Dr. Sun Yat-sen, the noted Chinese reformer and hero-victim of the kidnapping incident it the Chinese Legation in London some years ago. Having proved that he is a citizen of the United States (having · taken an oath of allegiance when the Hawaiian islands, where he was born, were annexed by the States) he was allowed to land in San
Francisco.
15,693.75
7,750.09
3
7.343.75
$15,099.75