April 22, 1905.]
EAT RETURN.
During the week ended the 15th April 428 rata, including sixteen infested, were caught in the City of Victoria, and 201, including eleven infested, at Kowloon,
SUPREME COURT.
Monday, 17th April.
IN ORIGINAL JURISDICTION.
BEFORE SIR H. 8. BERKELEY (CHIEF JUSTICE).
BE THE SAM YER COMPANY, LIMITSD. This was a creditor's petition for the winding up of the Sam Yee Company.
Mr. Hugh Norman Ferrers, instructed by Mr. P. W. Goldring, appeared for the petitioner. In the petition it was stated that the Sam Yee Company, Limited, is a registered company incorporated under the Hongkong Companies Ordinance on the 1st July 1902, The principal business of the Company was that of cotton and yarn dealers. The nominal capital of the Com- pany is $500,000 divided into 2,50) shares of $200 each. The amount of capital paid up is $140,000, having a balance of $860,000 yet to be alled up. The petition was brought by a friendly creditor. Luk Lai Che, the manager of the Yan On firm(No. 32, Bonham Strand East) to whom the Company is indebted in the sum of $2,470. The reason for the petition being pre- sented is that the Company is insolvent, and unable to pay its debts. The Company has suffered very severe losses during the past year, owing to unexpected fluctuations in cotton and yarn markets, and has also been unsuccess- ful in three Original actions against it for damages for non-delivery of yarn. The neces sary formalities have been complied with and the petition duly served and advertised. The liabilities of the Company amount to over $500,000.
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CHINA OVERLAND TRADE BEPORT.
GANG ROBBIXT.
Trung King Fuk was charged with gang robbery. following jury was empanelled :-Messrs. A. C. He pleaded not guilty and the Diss (foreman), J. T. Hoskins, W. G. Peter, R. Henderson, J. C. Gow, T. P. Keeney and W. H. Parcell. The jame of W. C. Coggin was also called, but met with no response.
The prisoner was charged with being one of • gang who committed & Tery extensive robbery at, Kwaitai village, in the New Territory, about two months ago. The robbers terrorised the inmates of a house, tied them up, beat a man in order to extract information as to where his goods were, and committed theft from the person. Three men Criminal Seasions. of the gang were sentenced at the March
to five years' hard labour and to receive twenty. The prisoner was found guilty and sentenced four strokes of the birch.
COMPANIES.
THE YANGTZE INSURANCE
ASSOCIATION, Ld.
To payment of a Dividend of 20 per
cent. or $12 per Share
*
19
伊势
$96,000.00 Transfer to Reserve Fund
50,000.00 Transfer to R/Insurance Fund 50,000.00 be carried forward
42,100.62
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about $18,000 more than they were last, but in we carry forward $42,190.62 against $94,428.17 $266,133.55 due by agencies, premia in course this should be amply sufficient Of the of collection, and sundry out standings on the 31st Demember 1904 $215,000 have since been received. Your Directors are also satisfied that the properties against which the Associs- tion has made advances afford ample security. Exchange and Investment Fluctuation Ac- count. The difference in the rate of sterling exchange on the 31st December 1908 when it was 2/5 5-16 and on same date 1904, taken at 2/9 or say a rise of 11.51 per cent. accounts to $31,903.81 by which the credit balance has a great extant for the
been reduced to $5,809,48 Market depreciation in some of the Association's Investments at the which is, however, considerably reduced if we latter date account for the rest of the apparent loss, calculate on to-day's quotations."
Expenses. The percentage of expenses to premis during 1904 was only 13.52 per cent. against 18.06 per cent. for the pre- ceding year. We must bear in mind that a large proportion of the increased premis earned in 1904 was due to War Risks, #O it seems doubtful whether the same amount
The fifteenth ordinary general meeting of of premia income will be long maintained, this company was held at Shanghai on April but when Peace is happily restored, we trust 11th. Mr. J. M. Young, said: - It affords your the directors very great pleasure to be able to sub-natural to expect will follow, will afford us great expansion of trade that it is mit these staten ents, showing as they do work; opportunities for fully participating in the ing acconuts both 1903 and former years and benefits. In the new 'year 1905 we have not for 1904 that beat any previous records of the advanced far enough to justify any prophesying Association. The balance to be dealt with
on my part, but we are content with the experi- under the former of these accounts is $238,190.62 ence as far as it has gone, We are interested be distributed as follows, viz : and as stated in the report is recommended to in the case of one or two vessels, seized by the Japanese Government under pretexts we hardly yet rightly understand, but having no reason to doubt that the Government desires to act fairly and legally, we hope for the best issues from the questions now before the Courts. Under the circumstances, it is not desirable to discuss the matter at this point. Provision has been made in our estimates in case of adverse decisions. The past year has been, as you will readily understand, one of constant care and heavy anxiety for Mr. Jackson. To have achieved the splendid results now laid before you entitles him and the other recognition of Shareholders. (Hear, hear.) members of the staff, I think, to the thanks and
Feeling that I shall be merely anticipating the general wish of the Shareholders, I propose, with the consent of my colleagues on the Board, doing ourselves the pleasure of submitting a resolution before we separate, to give them s bonus of not exceeding 20 per cent. on the salaries paid to them during last year. (Hear, hear).
If
$238,190.62
you sanction this proposed allocation. the reserve fund will be raised from $700,000, to $750.000, and we shall also open a Re-insurance Fund with a credit balance of $50,000, which
Mr. Ferrers asked that Mr. J. W. Lee Jones, Deputy Registrar of the Supreme Court of Hongkong, be appointed to do the winding up. His Lordship-I think you are entitled to the Order, which I make accordingly. The liquidator is to give such security as may satisfy the Registrar. The petitioner has hisient way of providing to a small extent for
costs.
Tuesday, 18th April.
IN CRIMINAL JURIS. ICTION.
BEFORE SIR H. 8. BERKELEY (CHIEF JUSTICE).
R BBERY WITH VIOLENCE.
The Criminal Sessions opened yesterday. Ho Hing was charged with robbery with violence at Mongkok on the 24th March. The Attorney General (Hon. Mr. E. H. Sharp, K.C.), instructed by Mr. Morrell, of the Crown Solici- tor's office, prosecuted. Prisoner pleaded not guilty, and the following Jury was empanelled: Messrs. C. Buyers (foreman), F. T. Chapple, F. C. Harley, E. P. Pereira, T. E. Pearce, J. L. H. O'Neil and F. Urban
After the hearing of the evidence, His Lordship in summing up told the story very briefly :- The defence is that the prisoner, who was hard up and hoped to get back to Canton, was a friend of the woman, and went to borrow some money from her. When he got into the house, the woman saying she had no money, he asked for something to pawn. The other story is that instead of being a friend the prisoner is a man who tried to rob her; he threw pepper into her eyes, and took two bangles off her wrists, then the husband osme and the
we think will be an advantageous and conven-
risks that may exceed the lines generally taken by our Underwriter. Owing to our increasing business and the large cargoes now carried by steamers we have often a good deal of reinsurance to arrange. Many other offices have adopted this plan and it seems to work satis- factorily. We hope to add to this fund year by year using it if necessary to meet any extra. ordinary claims or for equalising the dividends to shareholders. In the meantime it, like the increase to the reserve fund, renders the en- largement of the A-sociation's capital, to the desirability of which I have referred at the two last annual meetings, less pressing, although that point must be kept in view should we continue fortunate enough to experience further expansion of business or should there be a con- siderable decline in the rate of exchange which would render it necessary to increase the capital of the Association. As regards the working account to 81at December, 1904, the net premis earned during the year
amonnt to
THE SHANGHAI COTTON SPINNING CO., LD.
The second annual general meeting of share- holders in the Shanghai Cotton Spinning Co., Ld., was held on April 10th at Shanghai.
The Chairman (Mr. Yamamoto) in opening the proceedings, said: Gentlemen--The Re- port and Accounts which have been in your hands for some time will, no doubt, be taken as read. The profit on the Working Account amounts to Tls. 62,477.47, and the balance at oredit of Profit and Loss Account, including $1,110,534.86 | Tls. 14,699.70 brought forward from last account 859,819.47 | amounts to Tla. 63,539.97. Out of this profit, your Directors propose to pay a dividend of ten being an increase of...... $ 250,715.39 per cent on paid-up capital, absorbing_Tls. Early in the year we had some rather heavy 30,366, to set apart Tls. 15,000 as Reserve Fund losses but lat r on were more fortunate, so that for renewal and repairs, raising it to Tls. the balance at credit of this account on the 25.000, and to carry forward the balance, Tha 31st December 1904 was $623,364,95 against 18,173.97, to new account. I feel sure that $432,475.30 the year before. The balance of these figures will be received by the share- $623,364.95 includes an item of $93.067.80 for holders with much satisfaction, and before ·
as against the preceding year
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asking you to pass same, I wish to make a few remarks. At the beginning of last year prices of yarn were very high, but about the end of March a sudden collapse took place and the market remained without life until the follow ing August, in spite of the enhanced value cotton then ruling, thus causing an socumula tion of stocks and consequent loss of interest
man was arrested. The prisoner himself cor- interest earned, and out of this your directors roborates the pepper part of the story in a state-propose to pay a special dividend of 5 per cent, ment, but says it was incense stick powder. or $3 per share, $24,000, bringing the amount
A verdict of guilty was returned and His to be carried forward down to ₹599,364.95. Al Lordship said:-No other verdict could possibly though the losses and claims pending against have been returned against you. You were the 1904 Account are $75,000 more than they evidently a tramp, wanted to get back to Can-
were at this time last year against the 1903 ton, looked into this woman's house, and robbed
Account, the tiability for unexpired risks her.
against the same is not exceptionally, heavy thereon. Fortunately, however, the condition and the amount carried forward should be of the market soon improved and we have been amply sufficient to meet all claims, and we trust able to sell our yarn again at a remunérative will leave a good balance besides. Pending price. The mill worked day and night through- Claims account Former Years are estimated at 'out the year at its full capacity, and I am
Fortunately you were caught. It is serious thing to go into people's houses. Two yours' hard labour, and as you inflicted violence on this woman you will have twenty strokes of the birch.