March 5, 1906.]
AUDIT,
The accounts have been audited by Mosers. I U. Jeffries and A. R. Lowe, C.A., who offer hemselves for re-election.
Edward OSBORNE,
Chairman.
|
CHÍNA OVERLAND TRADE REPORT.
By bad debta recovered
--
7.80
By profit on hotel working mooount for the
"six months ending 31st December, 1905 58,202.45
$92,397.86
BALANCE HBET.
31st December, 1905. LIABILITIES.
12,000 shares at $50 each (fully paid up) 600,000.00
REPAIRS AND RENEWALS ACCOUNT. For the six months ending 31st December, 1995,
Dr.
$
$
C.
Capital-
To payments on account of repairs and re- newals during the half-year ending 31st December, 1905
1,000 mortgage debentures
C.
By balanoo
(6 per cont.)..
500,000.00
Leas 216 mortgage hell by
the company
108,000,00
392,000.00
Cr.
Reserve fund
Sundry creditors
Unole med dividends.
45,5637.81 1,695.00
Hongkong and Shanghai Banking Cor-
618,975.78 By balance from last account
By amount transferred from profit and loss account, as recommended in last report
poration (currant account)
205.589.17
Repairs and ronew..ls, balance as për
statement.
20,071.19
Profit and loss account, balance as per
statement....
65,249.10
$1.979,217.35
ABBRTS.
Value of marine lot No. 5 and remaining portion of marine lot No. 3 and re-
331,510.90
maining portion of marine lot No. 71,065,380.00 Praya roclamation (marine lot No. 288)... 246,140.00 Building thereon "Hotel Mansions," pay-
ments on account to date Cost of three Chineso houses on sections
B, C and D) of inland lot No. 80 Cost of Kowloon farm lot No. 3, Roction A Furniture and fixtures, as per $
la-t account...
G
DIVIDENDS.
C.
11,736.73 30,071.19
$31,807.92
1,807.92 30,000.00
$31,807.92
The following dividend announcements are from the N.-C. Daily News:-
The report for 1905 of the Shanghai Gas Co., Ltd., whose capital is Tls: 800,000, shows a divisible balance, after the payment in July last of an interim dividend of 7 per cent., of Tl. 148,263. It is proposed to pay a final dividend of 7 per cent., making 14 per cent for the year, and a bonus of 3 per cent., to write off Tis. 37.346 for depreciation, to place the sum of Tls. 20,000 to depreciation and renewals account, raising this account to Tls. 165,000, in addition to which there is a share premium 88,007.85 account amounting to Tls. 242.282, and to carry
forward the balance, Tls, 11,018.
33,000.00 30,26.00
65./17.18
Since udded
22,890.67
Installation of electric light,
as por last account...
30,055,10
Loss written off, as per last
roport
5,000.00
Since added
25, 55.40 1,574.11
26,6 9.51 46,278.25
Stock oflinen, crockory and glassware, &c. Stock of wino, provisions, household sun- dries and stationery as per inventorfes
Shares in public companies
Licences attaching to half year to 30th
June, 1906
Fire insurance, unexpired premia. Value of steam launch
Sundry debtors
Hongkong and Shanghai Banking Cor-
poration (unclaimed dividend account)
Cash in hand
48,241.41 5,796.31
2,060.01 1,177.38 5,000.00 46,645.68
At a meeting of the directors of the Shang hai-Sumatra Tobacco Co., Ltd., held on the 21st inst., it was decided to recommend that at the approaching annual meeting, a dividend of 15 per cent, making 25 per cent. for the year, should be declared.
At a meeting of the directors of the Shanghai Tug and Lighter Co., Ltd., held at the office of the agents, yesterday, it was recommended to pay a final dividend for the year 1905 of 34 per cent. on preference shares and 6 per cent. on ordinary shares.
The Hokkaido Colliery and Railway Co. pays a dividend for the latter half of 1905 at the 1,695.00 rate of 15 per cent, per annum, puts Y96,000 to reserve, and carries forward Y519 827.
127.55
$1,979,217.35
PROFIT AND LOSS ACCOUNT,
For the six months ending 31st December, 1905.
Dr.
To bad debts and refunds..
To Crown rent.....
*
To rates....
To fire insurance
To debenture installation on
$500,000 at 3 por coat. ---
To loss returned on debentures
held by the company
To interest account
C.
15,000.00
3,024 66
'lo directors' and auditors' fees..
Balance, to be appropriated as follows: To pay a dividend of 8 per
dent,
C.
48,000,00
To transfer to repairs and re-
newals account...
10,000.00
To write off value of electric
installation
To carry forward to new ac-
count
0,629.51
619.89
Cr.
$ C.
By balance from 30th June, 1915 105,126.40
Less dividend at 10
C.
per cent.=..
60,000,00
30,000.00
off
Legs trausfer to re-
pairs and renewals
account
from value of
electric installa-
I ess
written
The report of the Shanghai Land Investment Co., Ltd., whose paid up capital is Tls. 2,600,000, for 1905, shows a divisible balance, after deduc- ting the interim dividend of 6 per cent paid in July last, of Tls. 248.875. It is proposed to 56. pay a final dividend of 6 per cent., making 12 502.40 per cent. for the year, to put Tls. 40,680 to 3,130,40 reserve, and carry forward the balance, Tls. 2,988.42 | 52,195.
C.
The profit and loss account and balance sheet of the Osaka Shosen Kaisha, Limited, for the 11,375.34 | half year ending 31st December, 1905, has just 5,395.68 been issued. A net profit of Y146.537 is shown 3,200.00
on the six months' working after Y803,00) has been carried over to the reserve and depreciation funds.
SINGAPORE HARBOUR SCHEME.
har-
COMPANY MEETINGS.
165
HONGKONG AND SHANGHAI- BANKING CORPORATION.
At the eighty-first ordinary half-yearly meet-. ing of shareholders in the Hongkong and Shanghai Banking Corporation held at the City Hall at noon on Feb. 24th, Mr. H. W. Slade presided. There were also present-Hou. Mr. R. Shewas, Hon. Mr. C. W. Dickson, Messrs. A Haupt, E. Goetz, C. R. Lonzmann, N. A. Siebs, G. H. Medhurst, F. Salinger, E. Shellim (Directors), J. B. M. Smith (Chief J. A. Jupp, W. H. Gaskell, G. Murray Bain, Manager), Hon. Mr Gershom Stewart, Messrs. S. Hancook, H. E. R. Hunter, A. G. Morris, J. C. Peter, Dr Noble, C. W. May, H. N. Mody, N. J. Stabb, Captain Tillett, H. M. H. Nemazeo H. W. Fraser, Ho Fook, J. J. Leiria, J. Barton, C. E. Anton, R. R. Hynd, L. Kom-tong. W. S. Jackson, Wong Leung-hni, Berindoague, F. A. Gomes, B. Layton, Ho
A. R. Lowe, J. R. Michael, J. Orange, C. H. J. A. Chinoy, J. MacArthur, W. Lysaught,
dard, W. H. Wickham, A. Forbes, W. H. Regge, A. Rodger, E. Kadoorie, Capt. God. Purcell, Lo Choung-shui, Cheung Pui-kai, Kadoorie, D. Forbes, J. M. 8. Alves, A. V. H. S. Michael, C. H. Thompson, E. 8. Apcar, H. Schroeter, S. A. Lavy and ̊C. J.
The Legislative Council of the Straits 65,249.40 Settlements discussed last Friday proposals
for the improvement of Singapore $92,397.86 bour. The Acting Colonial Secretary mored That this Council approves the acceptance $ C
of the tender of Sir John Jackson, Limited, for the construction for a sum of £1,030,693 of the works for the improvement of Singapore Har- bour as proposed in the report of Messrs. Coode, Son and Mathews dated the 15th February, 1904, excluding the South and East Moles, as recommended by the Consulting Engineers in the telegram from the Crown Agents for the Colonies dated 13th February, 1906, printed as Council Paper No. 6 of 1906, the depth alongside the quay to be 18 feet admitting of a depth of 20 feet hereafter by further dredging and on the understanding that the contractor agrees to construct the two outer protection moles if required by the Colonial Government within two years from the accep- 23,531.21
490.00 tance of the tender."
81.00
tion ...
5,000,00
95,000.00
By rents of shops and offices,
old building
7,960.00
By rents of shops and offices,
new building...........................
2,501.00
By rents of shops and offices,
hotel mansions...................................................
13,070.21
By dividends on shares in public compania
By serip and transfer fees
10,126.40
The debate was adjourned.
Gonsalves.
*
The uotico convening the meeting and the Gentlemen,-The report which I have read on report having been read, the CHAIRMAN said :- the half-year's working of the Bank is no excep- hare had the pleasure of laying before you for tion to the favourable statements your directors
many years past, and I think there is no doubt it will meet with your approval. I hope that the proposed distribution of profits will also provo satisfactory to you. We recommend the last we increased the dividend from £1. 10/- to addition of 310 laes to silvor reserve, In June
£1. 15, and I am glad to say that so far results have warranted that step. We are able to again propose a dividend of £1. 15/- and also a bonus of £1, making a distribution of £4. 10/ per share for the year. As regards the
have again been exceptionally favourable I'fool amount of the bonus, while circumstances that I must repeat the caution uttered by my predecessor in the chair to the effect that the £1 bonus should not be looked upon as a recurring certainty; more especially in 10. a year to the ordinary dividend. It is view of tle fact that we have since added only fitting that I should say at once that
the thanks of shareholders are due to our managers, agents and staff generally, and I am sure you will approve of our action in voting them a bonus of 15 per cent, on their salaries. Turning to the balance sheet you will find that our note circulation shows an increase of $30 last, while silver current accounts are some $60 lacs compared with the figures on 30th June
at the end of the year.. The withdrawal of lac less, reflecting the usual demand for money some of the local funds temporarily lodged with as in London, accounts for the decrease in gold current accounts. Deposits in gold remain practically unchanged, whilo silver deposits show an increase of $25 lacs. Outstandings under the heading of bill payable are $12 laos less than six months ago. ~ On the other side of the account you will see that we are in a very strong cash positi n. Coin lodged with the Hongkong Government against excess note issue has risen from $8,500,000 to $10,000,000, our cash shows an increase of $30 lac, and we have about $11 lacs more bullion in hand and in transit. Those
increases are mainly accounted for by the expan- sion in our note issue already referred to, and by the preparations made for the usual requirements of trade at this period of the year. Indian Government Rupee puper, and Consols, Colonial and other securities, stand at $11,994,370.38 against $13,954,590.64 on June 30th. Sterling Reserve Fund investments remain unchanged. Current exchange i now over 2/-, the rate at which our gold reserve appears in the balance sheet, but any differouce on that account is the sterling investments stand in our books se more than counter-balanced by the price at which compared with their market value. Bills re- ceivable are lower by about $13,000,000 and there is a similar reduction in bills discounted,