}
!
February 25, 1905.]
A verdict of not guilty was retarded and the prisoners were acquitted.
COMPANIES.
HONGKONG AND WHAMPOA DOCK CO., LD.
CHINA OVERLAND TRADE REPORT. description are a danger to the community. Sawmill. We have also in view the extension You are each sentenced to five years' hard of the Boiler Shop at Kowloon, entailing the labour and 24 strokes within the first fortnight. acquisition of additional machinery. Improve. The other two prisoners pleaded not guilty.ments are also necessary to both the Cosmopoli- The following jury was empanelled :--Messrs
tan and Aberdeen Docks to bring them properly G. Grimble, J. H. Maclaren, J. McCorquotale, into line with present day requirements, but G. White, W. H. Purcell, R. D. Galloway and these I am pleased to say are not of a costly * J. M. Alvés.
nature. I am glad to say that we commence this year satisfactorily. Nothing further occurs to me for comment, but before formally proposing the adoption of the report and accounts, shall be pleased to answer any questions. As there were no questions asked, he moved that the report and accounts be adopted and passed. Mr. Wo D: I have much pleasure in second- ing the motion, but regret that there is such a large falling off in the number of vessels docked, thereby reducing the earnings of the company. with such painful interest, may soon come to an I trust the war, the course of which we watch erd, and that this company my share in the revival of trade we may then look for. while it is satisfactory to learn that everything is being done to keep the docks, and the up to the requirements of the day. machinery employed about them, efficient and question of increasing the size of the accommoda- The tion of the docks to bring them into the same line is probably a more difficult one to tackle, but the Board has, no doubt, this in mind. Our thanks are due to the Manager and staff for their share in achieving the results before us, also to the Directors; and if I may do so. I congratulate our chairman on the completion of his second year of service in that capacity, and wish him a good tim› in his third year. (Applause).
ANNUAL MEETING.
The ordinary yearly meeting of shareholders of this company was held at on February 20th. Queeen's Buildings. There were present:- Sir C. P. Chater (Chairman), Hon. W. J. Gresson and Messrs N. A. Siebs, E. Goetz, A. Haupt, H. P. White, E. S. Wheller, J. S. Van Buren and E. W. Tilden (Directors), W. B. Dixon (Chief Manager), T. I. Rose (Secretary), Captain J. M. Hay and Messrs. E. Georg, E. H. Hinds, W. C. Jack, E. S. Joseph, C. W. May, J. R. Michael, M. H. Michael, S. F. Michael, S. J. Michael, R. Mitchell, W. Parlane, C. W. Richards, A. Rodger. A. S. Wood, Ho Fook. Ho Kom Tong, Ho Shai Wing aud Leung Man Pin.
REPORT AND ACCOUNTS.
sum of
ELECTION OF OFFICERS.
M.an-
Mr. RICHARDS proposed the election of Hon. Nr W. J. Gresson and Mr. H. P. White to the Board of Directors. Mr. Parlane seconded the proposition, which was agreed to,
Mr. WHITE moved, and Mr. JACK seconded, the re-election of Sir C. P. Chater and Mr. J. S. Van Buren to the Board of Directors.
Carried.
Mr. GEORG moved that Messrs. Thomas
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I he accounts are as follows ;—
PROFIT AND LOS3.
129
27,248.87 1,500,00 600.00
Interest Auditors' fees Consulting committee foo Amount written off as depreciation for 1904 101,840.37 Balance
845,054.82
8476,254.06
Balance from working account Balance brought forward from 1903
From sales of cement From sales of bricks, &c......
Exchange
Capital:
$ c. 32,115.74
$132,746.54 11,347.88
441,094.42 43.90
$476,254.06
BALANCE-SHELT.
LIABILITIES.
100,000 shares at $10 fully paid up
Reserve fund
Due to general managers Sundry creditors
Hongkong and S'hai Banking Corporation Amount due on mortgage Over draft
.1,000,000,00 350,000,00
1,875.20 67,949.75
.$400,000.0u 169,376,56
}
569,376.56 345,054.82
/ $2,331,256.33
Balance of profit and loss account
ASSETS.
Green Island, Macao :—
Buildings and machinery as
per last statement Since expended............
Less depreciation
Hok Un, Hongkong :-
Land, buildings and machi
nery, as per hat stite.
ment
Since expended
Less depreciation...........
Cement, raw material, stores, casks &c.
in stock value i at
Arnold and H. U. Jeffries be re-appointed Auditors. Mr. Ho Fook seconded the motion, Deep Water Bay works: which was carried.
LIMITED.
managers. on Saturday, 25th February, at 11 o'clock a m., is as follows :—
Annexed we have the pleasure to lay before shareholders a statement of accounts for the year ending 31st December 1901.
The CHAIRMAN, speaking with regard to he annual report and statement of accounts which have already appeared in these columns, said :- Gentlemen; The report and statement of accounts having been in your hands for some time, I will, with your permission, following our usual custom, take them as read. The net profits for the half year ended 31st. December 1904 amounted to $370,159.03, to which must be added the sum of $505.471.73, the amount brought forward from our last account, and, after deducting directors and auditors' fees there remai a for appropriation the $864,880.76, as compared with $954,037,67 for the previous half year, and $817,940,04 for the corresponding period in 1993. Subject to your concurrence, the Board propose to deal with this balance as follows:-To pay a dividend for the half year of 12 per cent and a bonus of two THE GREEN ISLAND CEMENT CO.. per cent to shareholders, absorbing $350,000, to write off from the value of the Kowloon Docks the of $16,591.66, and to carry
sum forward to new account the bala ce, $498,289.10. We trust that this distribution, which we think holders at the sixteenth ordinary general meet- The report for presentation to the share. recommends itself in every r spect, will meeting to be held at the office of the general with your approval. From the statement of accounts you will observe that the value of material in hand is about the same as at this time last year, the increase of some $220,000 to which I drew your attention at our last meeting having been absorbed in the com. pletion of the steamers for the Yangtze River and Philippine Government, then in course of construction. The dredger, "Canton River" having been for the greater part of the period under review usefully employed in the work of dredging the foreshore frontage at the Kowloon Dock, thus enab'ing vessels of deep draught and great length to lie alongside our wharf when under repair, has not been able to seek outside employment, and her earnings are consequently slight. The decision mentioned at our last meeting to replace the "Fame" by a smaller vessel with moder machinery to work with the Robert Cooke" is being carried out, and it, when completed, will be found very useful. The returns of tonnage of ships docked or repaired during the past half year, as compared with the previous lix months, shows, as was foreshadowed in the sast report, a consid rable falling off, totalling a decrease of 58,513 tons, and I fear I cannot hold out much hope of improvement in this respect, so long as the present war between Russia and Japan continues. The wiring and motors for a further extension of the electric drive are now deliverable. The power for this and other extensions which we have in view, is already secured, and has been at work with pxcellent results at low power for the past half year. We may shortly expect delivery of extra pranes for the Engine Works and other tools and we intend to extend the electric drive to the
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The net profit, including the amount brought forward from the previous year, amounts to $345,054 82 which it is proposed to deal with a follows, viz:-
• $ 50,000.00 900,000,00
To place to reserve fund To pay a dividend of 20 per cent - To carry forward to next year's account 95,051.82
The demand for cement steadily increased throughout the year and as the Company's plant in spite of everything we could do to increase the output is still inadequate, it has been decided to further extend the factory by the addition of kilns and machinery which will increase the present production by nearly fifty per cent. On this account the capital of the Company has recently been increased by special resolution to $1,500,000. It is anticipated that this addition will more than meet all our require- ments for some years to come.
CONSULTING COMMITTEE.-The Hoa. C. W. Dickson having left the Colony, the Hon. W. J. Gresson was invited to take his place in the consulting committee. In accordance with the articles of associati n, the Hon. Sir P. Chater, C.M.., the Hon. W. J. Gresson and Dr. J. W. Noble retire, but being eligible, offer themselves for re-election.
AUDITORS.-The accounts have been audited by Messrs. T. Arnold and W. H. Potts, who are recommended for re-election.
SHEWAN TOMES & Co., General Managers,
$236,000.00
81,886.25
317,884.25
19,886.25
298,000.00
Cement, raw material, stores, cask",
&c. in stock valued at
115,818.94
$ C.
1,034,000.00 121,357.11
1,155,357.11
69,357.11
———1,086,000.00
401,408.17
80,000,00
95,161.51
115,161,51
7,161.51
108,000,00
8,80.00
5,910,00
700.00 200.00
500.00
228,599.34 1,380.98
59,770.00 15,465.50
75,235.50
5,235.50
70,000.00 10,338,90
Land, buildings and machi- nery as per last statement Since expended..
Less depreciation..
Bricks, pipes, &c. in stock valued at Cement on consignment valued at Office furniture as per last
statement
Less depreciation......... Sundry debtors
Premia on unexpired policies Steau launches and lighters
as per last statement. Since expeaded..
Less depreciation
Cash on hand
$2,334,256.33
THE SHANGHAI LAND INVEST- MENT CO., LD.
The annual general meeting of this Company was held at Shanghai on Feb. 16th. There were present:-Mr. E. Jenner Hogg (Chairman), Messrs A. McLeod, C. W. Wrightson and J. M. Young (Directors), and Messrs. J. J. Chollot, H. J. Clark, H. Edblad, C. D. Kerr, J. N. Jameson, Archibald Little, W. D. Little, W. C. Murray, H. A. J. Macray, F. B. Pitcairn, P. H. Purcell, T. von Rücker, A rhewan, C. L. Sites, J. Sampson, and A. P. Wood, represent- ing 3,340 shares.
The Chairman-The first resolution I shall have to propose will be the adaption of the report and accounts. Before dealing with the business of the meeting I am sure the shareholders will join with me in an expression of doep regret at the death of Mr. Snethlage, who was - one of the originators of the company, and who has been so closely connected with it ever since. We have been very greatly indebted to him for his services. I presume that, as usual, we may take the report and accounts as read.
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