May 6, 1905.]
affords a favourable and convenient anchorage for all junks-whether those engaged in the local distribution traffic about the coast near the mouth of the Min or the larger sea-going vessels. It is merely a distributing centre.
!
CHINA OVERLAND TRADE REPORT.
Oranges, fresh and pre-
served
Paper, lat quality Paper, 2nd quality Paper, Jose... Planks, Soft-wood Planks, Coffin Poles
Trunks, leather
14
17,855 70,231] 489,804 [172,520) 2.251,792 (227,818) 31,286 [370,848) 90,032 10,2301 123,006 17,7171 4,024,903 [675,908]
24,325
Wu-lang-chiang. Situated about 5 miles above Pagoda Anchorage, commanding the local traffic into and out from the Yang-foo and other small river valleys-rural districts-
It is interesting to note how very large a south of the Min (ie., "back of" the island
share of the junk exports of this region consist of Nan-t'ai).
Tang-tai.-Situated near the seacoast at the of wood and bambou and their produots (includ- mouth of the river whose banks and branching paper). valleys
Lien-kiang-hsien. constitute Tung-t'ai station controls all the trade going into the busy town of Lien-kiang and its de- pendencies, and the Export trade out of that place. Lien-kiang has à considerable trade by small craft to and from Foochow. Its river enters the sea, say, 10 miles north of the Min, and here is the Tung t'ai station.
The
The value of all the trade-taking local and distant together-which has come within the cognizance of the Min Hai Chang Kuan (stations included) during the 29th Kuang Hsu is shown by Section IX of these Returns to be somewhat over Hk. Tls. 14,000,000.
It is interesting to get at the value of the trade with other parts of China, more or less distant, as distinguished from the merely river- ine trade. The following calculation enabl-s us to do this roughly:
The total value of all the trade is Throw out from this Min-ngan's trade, because it is included in the trade of either the Head Office or Chou-t'ou or Hsin- chiang (Min-ngan being only & place fof transit)..
Hk. Tls. 14,58,406
809,428
Remainder Hk. Tls. 13,248,978 Of this total, the following is riverine trade,
Bk. Tis. Fiz.:-
Chou-t'oa
1,35,344
Hein-chiang...
156,019
Kuan-t'ou exports
134,957
Wu-lung-chiang
130,895
Tung-t'ai imports
40,658
|
|
The total revenue, Hk. Tls. 224,488. bears to the total value of the trade, Hk. Tls. 14,058,406, the proportion of about 13 per ceut.
THE MERCANTILE BANK OF CHINA, LTD.
The twelfth annual report of the Mercautile Bank of China, Limited, the shareholders of which met on April 12th, was as follows:--
289
The bank is also contingently liable in respect of Notes outstanding amounting to £7,961 38. 2d., which are not expected to become payable and are not in- cluded in the above.
Forward exchange contracts outstanding for pur- chase and sale of bills and telegraphic transfers, £2,705,969 Da. 3d.
Cr.
By cash in hand and at bankers By money at call
By bullion
By Government and other stocks :--
Consols and securities guaranteed by the
British Government £111,134 0 0 Indian Government
rupee paper... Indian Government sterling stock and guaranteed railway debentures
227,112 16 0
92,262 10 0
By bills receivable and advances. Hy bills discounted
By loans receivable and advances By freehold banking premises By liabilities of customers for accept-
ances per contra
By sundry accounts, including amounts
due by agents...
£423,829 4 1
10,000 0 0 220,992 18 11
430,539 6 0 1,799,216 3 7 70,738 15 0
.1,261,863 3 7 13,417 14 5
111,096 5 5
14,316 14 5
£4,386,010 5
PROFIT AND LOSS ACCOUNT.
For the year ending 31st December, 1904.
office, brauches and agencies.
The Directors beg to submit to the share- holders of the Bank the general balance sheet and statement of profit and loss account for the year ending 31st Decemb. r, 1904.
The net profits for the year, after providing To expenses of management at head for bad and doubtful debts, and including £14,551. 18×, 6d. brought forward from last account, amount to £73,227. 1s. Od. Of this sum £14,062 10s. Od.. has already been istri- buted in payment of an interim dividend on the **A" and "B" shares for the half-year ending 30th June at the rate of 5 per cent. per annum ree of income tax,
17
The Directors have added £39,000 to the reserve fund (raising the latter to £114,000) and they have set aside £2,000 towards the formation of an officers' pension fund. They Dow recommend a further dividend on the "A and "B" shares at the rate of 5 per cent. por annum, free of income tax, for the second half of the year, leaving a balance of £15,102. 18 d. to be carried forward.
Mr. James Campbell, the Chief Manager, has been appointed to a seat on the Board.
The following directors retire by rotation, Total Hk. Tls. 1,797,873 but, being eligible, offer themselves for re- election :---Sir Alexander Wilson and R. W. Chambey, Esq.
What remains is the non-riverine
trade, viz....
Hk. Tls. 11,451,15 What proportion of this non-riverine trade consists of imports and what proportion is exporta
ie:-
The actual value of the imports (non-riverine)
Hk. Tls. 2,322,266 61,278 750,629
Head Ofice
Shui-t'ing
Kuan-t'ou
Total imports Hk. Tls. 3,134,173
And the actual value of the exports (non.
riverine) is : –
Head Office Shui-t'ing
...
4
Tung-t'ai
It will be necessary to appoint auditors. Messrs. Copper Brothers & Co., and Messrs. W. A. Browne & Co., the retiring auditors, offer themselves for re-election.
By order of the Board.
JAMES CAMPBELL, Chief Manager.
The accounts are as follows:-
BALANCE SHEET. 31st December, 1904. Dr.
To capital authorised
30,000 "A "shares of £25 each-£750,000 30,000 "B" shares of £25 each 750,000
Capital issued :-
15,000 **
Hk. Tls.
7,693,112
£1,500,000
610,421 13,399
shares,
£12 108. paid 30,000 "B" shares,
£12 10s. paid
£187,500 0 0
375,004 0 0
To reserved fund
Total exports Hk. Tls. 8,316,932
Coming now to special articles, we find that the chief ones are as follows :-
Imports Chief Office, Shui-t'ing, and Kuan.
t'on tables)
Native Cloth
Salt Fish
Bean Oil
Tes Oil Wheat.
Beans Beancake
Hk. Tls. [1902] 493,514 49,658) 309,623 [ 12,394] 358.254 114,914 484,903 [143,008) 327,395 175,097 327 9175,902
Other important articles are Raw Cotton, Dates, Cuttle-fish, Hemp, Lily Flowers, Melon Seeds, Samshu, Shrimp Sauce, and Vermicelli. The principal exports have been as follows
and Office, Shui-t'ing,
Tung-t'ai (Head
Hk. Tls. together)
494,238 Abacuses
24,289 [441,583]
Bamboo Shoots
Bamboo Split
Chinaware, Coarse
Lampblack
:
To current accounts and fixed deposit
accounts
To bills payable----
Drafts
on
London bankers againstcash ardi
security per
£ 65,786 8 10 contra Drafts on head office
and branches
327,909 3 7 Drafts on continental bankers and other agents
£562,500 0
110,000 9 0
..2,238,727 6 0
566 0 8
To loans payable against security per
To ad interim dividend for half-year ending 34th June, 1904, on 15,000 "B" sliares and 30,000 A shares at 5 per cent. per annum
To amount transferred to reserve fund
To
amount transferred to officers' pen- sion fund... By balance......
£59,952 17 2
14,062 10 30,000 0 0
2,000 0 0
29,164 11 0
£135,179 18 2
By balance from 31st December, 1903... £37,989 8 6 Less dividends:---
For half-year ending 31st
December, 1903,
1
on
15,00 "A shares at
5 per cent. per annum £4,687 10 0 For the year ending 31st
December, 1903,
onl
30,000 "B" shares at
5 per cent. per annum 18,750 0 0
}
By gross profit for the year ending 31st December, 1904, after providing for bad and doubtful debts
23,437 10
14,551 18 6
120,627 19 8
*135,179 18 2
OPENING OF HONGKONG SAILORS' INSTITUTE.
The opening ceremony in connection with the New Sailors' Institute, 72 and 73 Praya East. was performed by His Excellency the Governor, Sir Matthew Nathan, yesterday afternoon. Amongst those present were Sir H. S. and Lady. Berkeley, Admiral Curzon- Howe, Hon. Captain Barnes-Lawrence, R.-N., Hon. Dr. Clark, Mr. H. E. Pollock, K.C., Røv.. J. H. France, Mr. and Mrs G. H. Piercy, Rev. F. T. Johnson, Captain Milroy, Mr. and Mrs. E. G. Woodward, Mr. and Mrs. Hippell, Mrs. Hoare, Rev. C. H. Hickling, Mr. and Mrs. Stringer, Rev. C. Gordon-Vaudin, R. N., Rev. G. Searle, C. F. and R. A. B. Ponsonby, His Excellency's A.D.C. An apology was received from His Lordship, Bishop Hoare, regretting his inability to be present owing to a longstanding engage- ment. The Hon. Mr. Gershom Stewart, who was to have taken part in the opening ceremony was also absent owing to the non-arrival of the C.P.R. steamer Empress of Japan on board of which Mr. Stewart is a passenger.
After an opening prayer, the REV. J. H. FRACE, before caling upon His Excellency 394,261 13 1 to perform the opening ceremony, said that some two years, his thoughts went back
contra ...
To
To acceptances on account of eus.
tomers, per contra sundry accounts, including rebates and provision for bad and doubtful debts To profit and loss account.
630,589 11 11 111,(96 5 5
25.78
10,644]
140,823
46,979 [* 8,479]
Olives, fresh and salted 29,364 [ 47,137]
259,670 16 0 29,164 11 0 £4,386,010 5 5
Contingent liability on bills receivable re-discounted £2,582,180 13s. 4d. of which up to 27th March, 1905, £1,772,122 2a. 10d. have run off.
to
a time when they were compelled to close an institution which had been doing very good work on this side of the harbour for some years. Very reluctantly they decided to clos that institution known as the "Star" Coffee House, and from that time the Committee had set themselves to work if possible to provide a place of their own, and obtain a site for same on some suitable situation. Hongkong was in need of such so institution to meet the wants of sailors-especially of His Majesty's