258
COMP NIES.
CAMPBELL, MOORE & CO., LD.
of
The twenty-first ordinary meeting shareholders in Campbell, Moore & Co., Ld., was held on April 15th at the Company's office. Mr. A. F. Arculli presided and there were also present Messrs F. P. Musso (director), Mr. A. A. Sonża (manager), A. O D. Gourdin, O. el Arculli and Miss I. Bishop.
The MANAGER read the notice calling the meeting, after which the CHAIR. MAN said the report had been in share- holders' bands for some time, and asked them to take it as read. He was sorry the credit balance amounted to only $60, as against $6,000 for the previous year, which was due to less work and less sales than in 1905. They had earned in the barber's shop from permanent residents about $300 less, from visitors and shipping people about $3,100 less, while the saloon the drop WAS about $2,500. So far this year business bad improved a little, and the directors endeavouring to cut down expenses as far as possible, and they hoped at next annual meeting to have a better report to present. He knew of nothing more that required explaining, but would furnish any information songht to the best of his ability.
0.101
in
▼
were
Mr. GOURDIN-Way the annual meeting 80 late because there y no directors present to call it?
The CHAIRMA
hat was the reason. No further qpons being asked the CHAIR- MAN proposed the adoption of the report and accounts as posented.
Mr. Muso seconded, and the motion waS
carried..
Mr. GOURDIN proposed the confirmation of
the election of Mr. Musso as a director.
The motion was seconded by the CHAIRMAN and agreed to,
THE HONGKONG WEEKLY PRESS AND
ADMIRAL Lt seconded, and the motion was carried unanimously,
The meeting then dissolved.
CHINA LIGHT AND POWER COMPANY, LIMITED.
The sixth ordinary general meeting of share holders in this Company was held at the offics of the general managers, Messrs. Shewan Tomes and Co., on April 17th Air. '. Showan presided, other shareholders present being Sir Paul Chater, Messrs. H. P. White (consulting committee), R. Henderson (secretary), and Fang Wa-chan.
[April 20, 1907.
The SECRETART read the notice calling the | absolutely necessary owing to circumstanossG meeting.
beyond our control, they will at the same time The CHAIRMAN proposed that the Company | orente much more economical conditions and be wound up voluntarily under the provisions better working all round. but we have still a of the Companies' Ordinance 1865, and that Mr. | good deal more to do in this way before the A. R. Lowe, Chartered Accountant of Hong-plans of our manager, Mr. Marston, whose kong, be hereby appointed Liquidator for the advic and recommendations in these matters purpose of such winding up.
we have found very reliable, can all be carried out. We much regret that in spite of the fact that the present accounts show a substantial improvement a'l round and a larger balanss { profit, we cannot, ia fros of the very serious amount of $49,970.10 due to our Bankers and other creditors, feel justified in recommending a repetition of last year's dividend. We, therefore, propose to disposs of the credit balance of $48,450,10 ||bg writing off $21.459.10 as depreciation, and carrying $25,000 forward to eredit of aext year's Profit and Loss Account. As you are nil sware we are now raising a sum of $500,000 on debatures at 6 per cent which will pay off our pressat debt, mad loare about $110,00 for further working ospital: With part of this money we shall obtain two more 200 B. H. P. Diesel engines, one of which is actually required now, as all our plant is working full time, and to keep pice with the demand we have had tỗ fall biex oa nar sparse," always a dangerous thing to do. The first of these engines should be working by November next, and the second a month or so later. This will give us three Diesels altogether on which there will be a marked saving in working expenses
with
Our reason for compared ordering tw of these engines at onos is that they are in great demand at home, and makers of them are so full of work that they must be ordered well ahead to secure the required delivery. I am pleased to say as regards or prospects that the demand for light continues to grow, sad we have not the for both engines when they are ready to start least doubt that there will be plenty of work for as I explained just now, the first one could
The SECRETARY having read the notice, the m-eting. the CHAIRMAN calling said: -Gentlemen: The report and accounts for the year ending 28th February were issued to you on the 5th instaat,
aad are now presented for your approval. The gross profit amounts to 879,966 66 as against $61,181.97 for the previous year, and the net profit to $46,459.10 against $31,219.99 last year a fair improvement, but not so much as we had hoped and as it might well have been, had we not had rather bad luck. Last year we suffered from the boycott at Canton, and this year our earnings have been curtailed by two severe out- A number of good breaks of fire there. customers were thus lost to us for a time, but the quarters where these fires occurred are being rapidly rebuilt, and we hope before loog
to do a batter business there than before. lu.
item,
terest on meney borrowed is again a beary and bas reduced our profit by some $18,000. I cannot complain of this for the money WBJ badly wanted, Mr. Musso proposed the reappointment of and has been very useful, but I do foo! La. A.O'D. Gourdia as auditor.
it hard that we should lose over $1,700 iz $10, O. ARCULLI seconded.
discount on the small coins, which we receive a kà CHAIRMAN said be wished to in payment of our bills, and which we cannot
Deknown
to those pressut that well refuse to take from our customers. Many Stormpany was very much indebted to
of these coins are British coins, which the (the dourdin for his services every year, Government who issues them should never the specially this year. In view of the
allow to fall below their par value. Apparently 73. pany's lean year that gentleman generously the Government, led away by the profit to be fed to work under his usual fee, but the made on the subsidiary coins issued them to too laairman, speaking for himself and his great an extent, and so the interior of China leagues, thought it was not right to take became flooded with them. The Provincial advantage of his kindness. Mr. Lourdin's fee Governments retaliated with a still was fixed at $300 some three years ago, aud the coinage, and industries like ours have to suffer speaker failed to see why he should forego bis for want of forethought on the part of our claim seeing that he had worked for rulers who now seem helpless to remedy the it and tra entitled
it. Further situation they have brought about, though he had given
raluab hints and surely some suggestions for curtailing expenses and to prohibit the Chinese coins altogether
ما
M
improving the working, therefore if he would not accept the full amount he might take two-thirds of it, and with it the thanks of the directors and shareholders of the Company,
The motion was carried.
M. GOURDIN agreed to fall in with the suggestion, seeing it was the wish of directors and shareholders, but he would have been better pleased to have waired the whole
amount.
The CHAIRMAN - Gentlemen, thạt is all the business before the meeting. I thank you very much for your attendance and hope that at the next meeting it will be my pleasure to announce a much larger dividend than we have hitherto had.
|
and
b weer
it cannot be a difficult matter
call
in the British until the
supply equals the demand. As it is, British coins are at a heavy discount in a British Colony, which it seems to me in a state of things far from creditable to those within whose jurisdiction this matter lies. The cost of coal was a little lower than during 1905, but it was still much above the normal figure, while on the other band the quality was worse than ever, so much so that we have now about decided to abandon Japanese in favour of Australian coal. On the other hand, our experiment with a Diesel oil engine has so far resulted very satisfactorily with a substantial saving by the use of oil, compared with burn- ing coal, although as the engine only got into regular working at the end of 196 this sounomy has not appreciably affected the sccounts before you. Our lossen from the typhoon in September were about $2.5 0 in capital, and a small loss in revenue at Kowloon, and from wires at Cantou about $1,600 in capital, and a heavy reduction in wbiob, however, will be recovered in time. You will see from the accounts that we have been An extraordinary general meeting of share at a large expenditure for additions, alterations holders in this Company was held at the and re-arrangements to the Power Station at the Canten, which have been forced upon us through Company's office, Prince's Building, on 15th April. Mr. Chan A-Fook presided, other the Factory having been laid down by its original shareholders present being Admiral Li, Messrs. promoters in a cramped position, and with Sang Yut-kai, Lai Hui-kwan, Yow 1'sa-ywo, apparently no thought whatever of future Chuk-kee, Tang Kan-shang, Kwan Tak-keextension or the expansion of business, which has since taken place. While these changes are and J. L. Farwell (secretary),
The approximate gross earnings of the Indian Railways from the 1st of April, 1906, to the 3rd of March, 1907, are now 182 lakhs better than they were in the same period last year.
1.
THE CANTON-HONGKONG ICE AND COLD STORAGE CO., LD.
BA
be utilised at ones if it were here. I do not wish to appear too optimistic or to mislead you by painting the future in too glowing colours, but I certainly think we bare good reason to look forward to a better and more profitable business in future, for we have in Canton a large field which it takes all our resources to oɔpe with, while in Kowloon, although it is only the day of small things with us there, our business grows steadily nevertheless, and while on one hand we are effecting economies and reducing working expeaser, on the other the number of our customers and our income from sales incresse and expand every month.
“
No questions being asked, the CHAIRMAN proposed that the report and accounts presented be adopted and pass d, and that the balance of $46,459.10 at oredit of Proft aad Loss Account be disposed of by writing 821,459.10 off value of Plant, Machinery sad Lines as depreciation, and by carrying forward $25.000 to credit of next year's Proßt and Loss Account.
Mr. WHITE seconded, and the motion was carried unanimously.
On the motion of Mr. FUNG WA.CHUN, seconded by Mr. dENDERSON, Sir Paul Chater,
Dr. J. W. Noble and Mr. H. P. White were re-elected to the consulting committes.
SIR PAUL Chater proposed the reappoint. ment of Messr«, W. H. Potta and A O'D. Gourdin as auditors.
The motion was seconded by Mr. Fuxo W▲- CHUN, and carried.
The Chairman-That is all the bussiness, gentlemen. I am much obliged for your st tendance.
HONGKONG STEAM WATERBOAT COMPANY.
At an extraordinary general meeting of the Hoogkong Steam Waterboat Co. held on Apl. 17th, the following resolutions were confirmed: (1) That it is expedient to effect an amalgamation of this Company with the Union Waterboat Company Limited, and that with a view thereto this Company be wound voluntarily and that Edjae George up Barrett be, and he is hereby appointed, Liquida- tor for the purpose of such winding up. (2) That the conditional agreement submitted
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