April 3, 1905.]
the CHAIRMAN said
Gentlemen-This meet- ing has been called to confirm the special resolution just read to you, and passed on the 11th of this month at a special ex- traordinary general meeting. With
your permission I beg to propose that the resolution be now confirmed.
Mr. DÉ› CHAMPEAUX seconded the proposi- tion, which was carried unanimously.
The CHAIRMAN-Gentlemen, that is all the business. Thanks for your attendance.
CA MPBELL, MOORE & CO., LD.
ANNUAL MEETING.
om any,
CHINA OVERLAND TRADE REPORT.
6.
LIABILITIES.
By capital-
By accounts payable
1,200 shares paid up at $10 anch
12,000.00
Due to sundry creditors
1,667.72
By reserve fund-
As per last account
$3,5/10.00
Added as per resolution passed
81st March, 1904
2,000.00
5,500.00 126,30
By unclaimed dividends and bonus By balance at credit of profit and loss
WORKING ACCOUNT.
221
any special attention, but I shall be pleased to give any further information which any of you gentlemen here may wish to ask. The receipts, or sales, during last year show an incresse. and
year, 80 far, may be considered satisfactory.
this
Mr. CHOW HAN WAH second the proposition, which was carried.
The CHAIRMAN-That is all the business 8,171.74 gentlemen, thank you for your attendance to-day. I hope that next time I shall have the pleasure of declaring a more substantial dividend, and be able to tell you that dividend warrants will be ready the following day.
$27,465.76
To charges To wages...
2,744.84 10,075.66
To reserve fund-
As passed at meeting 31st March, 1904.
2,000.00
To dividend---
30 per cent. passed at meeting 31st March,
1904
To directors' fees
To furnitures and fixtures
To auditor's fees
To rent. To insurance
To stationery To bad debts--
The nineteenth ordinary annual meeting of shareholders in Campbell, Moore and Limited, was held at the Company's office, No. 29, Queen's Road Central, on the 31st March Mr. J. W. Osborne (Chairman) presided, and there were also present Mr. M. A. A. Souza (Secretary), Messrs. A. O'D. Gourdin, Dang- chee, V. P. Musso Peralta and Captain Clarke.
The CHAIRMAN-Gentlemen-'The report and accounts have been in your hands for several days. With your permission we shall follow the naual course and take them as road. Nothing can be stated that would give shareholders more information than that contained in the accounts. The business here and at the branch establishment is prosperous, and I look forward To balance to a successful year and hope that next year we shall give as good a return as we do now, or better. Before proposing the adoption of the report and accounts any questions shareholders, like to ask I shall be pleased to answer.
There were no questions. The adoption of By sales and shop returns the report and accounts was proposed by the CHAIRMAN, seconded by Mr. A.. O.'D. GOURDIN, and carried.
Captain CLARKE proposed the re-election of Mr. A. O'D. Gourdin as Auditor. Mr. DANGCHEE seconded, and it was carried.
The Report of the Board of Directors to the nineteenth Ordinary Meeting of Sbareholders to be held at the Company's Office, No. 29, Queen's Road Central, on Friday, 31st March, at 12 o'clock, noon, is as follows : —
Gentlemen,-The Directors have the plea- sure to lay before you the accounts for the twelve months ending 31st December, 1904, showing a credit balance of $8,171.74 which, with your approval, your Directors propose to
deal with as follows :-
To pay a Dividend of 30 per cent
#1
pay Directors' Fees.....'
write off Fixture and Furniture
accounts
$3,6-10.00 600.00
289.15 To place to Reserve Fund account 2,500.00 carry forward to next year's account 1,182.59
88,171.74 Your Directors are glad to be in a position to atate that the business of the Company has been steady during the past few months, and there is every probability of showing as good results for the present year'
The accounts have been audited by Mr. A. O'D. Gourdin, who offers himself for re. election.
J. W. OSBORNE,
Chairman.
The accounts are as follows:
BALANCE SHEET.
From 1st January 1904 to 31st December, 1904.
To stock-
ASSETS.
Value of stock on hand
To accounts receivable-
Due from customers
To cash-
To Chartered Bank-
Amount on hand
In current account
To fixed deposit-
With Chartered Bank of I. A. and China 3,500.00
To fixtures and farniture8~-~~-~-
As
per last account
$626,58
Written off as per resolution passed
31st March, 1904
126.58
Less sale of electric fans
500.00 175.00
325.00
Since added
464.15
To insurance account--
Unexpired premium paid in advance
The report said :-
PROFIT AND LOSS ACCOUNT.
After providing for all bad and doubtful debts, and including the $1,042.22 carried forward from last year, the balance at credit of this account amounts to...
..$16,604,82 3,600.00 600.00
From which has to be deducted the 126.58 following sums written off as deprecia- 300.00 tion, viz. :-
3,120.00 54.25
226.80
1900
$29.00
1901
327.30
1902
247.90
1903
243.70
817.90 8,171.74
$31,867.77
0.
6,929,51 176.70
$33,507.76 8,710.95
24,766.81
75
By balance brought forward from last ac-
By interest
count...
Less cost of stock...
By transfer fees....
RESERVE FUND. To balance 31st December, 1904
By balance 31st December, 1903 By added as per resolution passed 31st
March, 1904
WATKINS, LIMITED.
From plant and machines...$2,000.00 From furniture and fixtures.. 2,000.00
Leaving, available, the sum of
4,000.00
$12,604.82
which sum the General Managers propose to carry forward to the current year's account
EQUALIZATION OF DIVIDEND FUND.
The amount at credit of this fund remains as before, $4,802.57.
AUDITOR.
The accounts have been audited by Mr. A. O'D. Gourdin.
Accounts are as follows:-
BALANCE-SHEET.
31st December, 1904. LIABILITIES.
$31,967.77 Capital 10,000 shares at $10 fully paid up... 100,000,00
Equalization of dividend fand
The annual meeting of this Company was held at noon yesterday. Mr. G. A. Watkins presid- ed and there were also present Messrs. Chan A Fook (Secretary), Chow Han Wah, Wang Leung Him and Tsang Yut Kai.
Profit and loss account
ASSETS.
Aerated water plant, as per last
report
Less written off
Shop fittings and furniture &c.,
as per last statement
$15,377.18
6.
4,802:57
Unclaimed dividends
805.60
$3,500.00
Russo Chinese Bank
21,265.43
& 0. 8,500.00
2,000,00
Bills payable..
20,518.92
Loans payable
5,750.00
Accounts payable :-Trade Bills...$4,889.20
Sundry creditors 3,261.80
8,151.00
$5,500.00 Building mortgage loan...
15,040.00
12,604.82
$188,738.34
$ 0.
$7,000.00 2,000.00
5,000.00
2,267.74
17,644.92
2,000.00
15,644.92
15,040.00
476.86
811.62
936.67
14,176.82
90,444.11
2,0.0.00
$41,725.68 2,481,66
44,207.34
$188,738.34
$0. $00.00
The CHAIRMAN in proposing the adoption of the annual report said:-Gentlemen,— With your permission I propose to take the General Managers' report for last year ag read, and proceed at once to make the faw remarks I have in my mind. From the statements now before you, you will see that substantial amounts have been written off the two assets Aerated Water Plant' and 'Shop Fittings and Furniture' and trust that these appropriations meet with your concurrence.
The next item amongst the assets calling for notice is the building, which appears as only $15,040 against last year's figure of $22.720. The difference is accounted for by the reduction of the monthly instalments paid The off during the year under review. instalments, I may add, were treated as
Since added
Less written off.
Building
Hongkong & Shanghai Banking Corporation Cash...
Licenses attaching to 1905 Stook, &c., with Branches...
Stock on hand
J. O. Logan & Co.-balance due for pur-
chase of steam launch. Accounts receiveable :-
Trade accounts....
Bundry debtora........
PROFIT AND LOSS ACCOUNT.
To loss on sale of steam launch
To amount written off for depreciation :- From Aerated water plant......$ 2,000.00 From shop fittings & furniture 2.000.00
To balance.......
$ c. rent and debited to the Working account of 1904 out of the profits of the year. One more 14,046.79 item, and we will finish with this side of the 5,359.44 account, and that is the balance of $2,000 (which has since been paid in full)-due from Messrs. 379.01 J. C. Logan & Co. for the purchase of our launch, which was sold to them last December. 3,376.70 Now for the liabilities:-The bills, loans and
with last year, amounting together to over By balance forward from last year $11,042.22 accounts payable all show a decrease as compared
815,000. But, unfortunately, the bank over- draft amounted to nearly $10,000 more. it is due entirely to this fact that your General Managers find themselves compell- ed to carry forward all last year's profits, $12,604.82, instead of paying the usual 10 per cent. dividend. Profit and loss account exhibits a credit balance of $12,604.82 against $11,042.22 789.15 of the previous year, an increase of $1,562.60, a result which the General Managers trust the shareholders think satisfactory. I don't think $27,465.76 there is anything else in the accounts calling for
14.67
And
Less 10 per cent. dividend By net profite made in the year 1904,-less
bad and doubtful debts written off:
4,000.00 12,604.82
$16,904.82
******
10,000.00
1,042.23
15,862.60
$16,804,83
At the end of the year 1904 the balance standing to the credit of the Chinese Recreation Ground was $5,276,61, as against. $4,519.75 for 1905. Disbursements for the year totalled. $571.21, and receipts $1,328,07.