*
90
£325,000 Other Ster-
ling Securities,
written down to 280,140
£1,000,000 at ex. 2%
Bills discounted, loans and credits..
Bills receivable....
Bank premises
10,000,000,00 89,80,247.80 123,631,613.38 1,485,066,01
$289,262,553 29 GENERAL PROFIT AND LOSS ACCOUNT.
Dr.
30th June, 1907.
To Amounts written off :-
Remuneration to Directors
..$
To Dividend Account :-
21.158. per share on 80,000 shares
£140,000 at 4. 6d.
To Dividend Adjustment Account :-
Difference in Exchange between 4. 6d., the rate at which the dividend is declared, and 28. 2-3/16d., the rate of the day
To Transfer to silver reserve fund. To Balance forward to next half-year
Cr.
By Balance of undivided profits, 31st December,
1906...
By Amount of net profits for the six months end. ing 30th June, 1907, after making provision for bad and doubtful debts, deducting all ex penses and interest paid and dus
$1,721,558.90
THE HONGKONG WEEKLY PRESS AND
Jan. 1 to 30 Juñe
[August 10, 1907.
By net earnings of the company's three
establishments
We have orders in hand for a number of. To dredger account. new vessels comprising one stel towboat for To profit. Engineer Corps U. 8. A. Manila, one steel towboat and one steam cargo lighter for Bangkok, three steel launches for Manila similar to the one finished last half year, one wood Fire-boat for the local Government and two wood towboats one for Singapore and one for Hngkong Harbour. We are also building a Tow Boat to replace the " Kobert Cooke."
The dredger Canton River" was not em- 15,000.00 ployed during the past six months but has been on charter to Messrs. Butterfield & Swire since the 1st nst.
622,222.22
The nett returns from Aberdeen Dooks have been greatly reduced through the expen- diture of $9 517 on repairs to the two dock caissons, largely due to severe straining during the typhoon last September. Most of the 1,797,167.54 typhoon damage at our three establishments has been made good and paid for out of working $3,845,222.43 expenses.
660,832.67 751,000.00
2,123,663.53
$3,845,222.43
83,845,222.43
STERLING RESERVE FUND.
To Balance......£1,000,000 at ex. 28. ...$10,002,000.00
By Balance 31st December, 1906,
£1,000,000 at ex. 28......
A contract has been made for the lengthen- ing of No. 1 Dock and the work is now in progress under the supervision of the Company's staff.
No extensions to buildings have been made and but few tools have been added to our plant during the half year under review, your directors however have decided to proceed
at once with an extension to the Kowloon boiler shop and install several new michines to other departments.
LIABILITIES.
H. P. WHITE, Chairman,
Hongkong, 6th August, 1937.
BALANCE SHEET 30th June, 1907. 30 June, 1907. To capital 50,000 shares of $50 each fully
paid up
£20,000 00 18 893 18 +
$10,000,000.00
$10,000,000.00
(invested in sterling securities.)
To admiralty loan
$10,000,000.00
SILVER RESERVE FUND.
To balance
$11,750,000,00
$11,750,000.00 ...$11,000,000.00
By Balance 31st December, 1906 By Transfer from profit and loss
account
750,00 1,00
$11,750,000.00
J. R. M. SMITH, Chief Manager. C. W. MAY, Chief Accountant.
G. H. MEDHUBST,
H. KESWICK,
C. R. LENZMANN,
Less repayments
£1,100 Is. 8d. a 2 2}
To No. 1, dock extension account. To marine insurance account
To sundry creditors
To balance of profit brought
forward from last account 401,933,74 To profit for the half year end.
ing Jane 30th, 1907......... 401,396.82
Directors.
30 June, 1917.
HONGKONG AND WHAMPOA DOCK CO. LTD.
ABSETS. Aberdeen.
By value of Aberdeen Docks, as per last
statement
Kowloon.
By value of Kowloon Docks
as per last statement ... 2,449,800.25 Less, cost of extension of Kowloon Marine Lot No. 27 (transferred to No. I Dock Extension account)
The report of the Board of Directors of the Hongkong & Wharpos Dock Company, Limited, to the ordinary half yearly meeting of shareholders, to be held at the offices of the company, Queen's Buildings, Victoria, By cost of 1 No. 2 metal Hongkong, on Monday, August 19th at 12 o'clock noon, reads -
To the shareholders of the Hongkong and Whampoa Dook Company, Limited.
Gentlemen,-The directors have now to submit to you their report, with a statement of socounts for the half-year ended 30th June, 1997.
The net profit for the six months, after paying interest due and all charges, amounts to
to which has to be added the balance brought forward from last account
and from this have to be deduced- $10,000.00 750.00
Directors' Fees
Auditors' Fees
$401,396,82
smelting furnace for moulding shop
By cost of two 5 ton
derick cranes for yard plant
17,156.25
C.
2,501,000.00
By
By towage net earnings.... By bonus on insurance premia, &c.,
"Robert Cooke" difference between book value, & amount realized from insurance companies under policy..
8,460.78 401,396.82
$509,906.19
466,581.80 7,353.84 1,117,55
34,850.00
$309,906.19
THE HONGKONG, CANTON AND MACAO STEAMBOAT CO. LD.
The report of the Board of Directors to the ordinary half-yearly_meeting of shareholders to be held at the office of the company, on Tuesday, August 13th, reads :—
The Directors bɔg to submit to the Share. holders the Report and Statement of Accounts for the half-year ending 13th June last.
After paying running expenses, salaries, premia of Insurance, repairs and all other obarges, there remains including $2,170,08 brought forward from last account, and $50,000 transferred from the Depreciation and Insurance Fund, the sum of $130,751.59 at credit o Profit and Loss Account. From this amount
the Directors recommend that a dividend for the half-year of One dollar per share or $8,000 be paid to Shareholders, 20,001 be written off the book value of steamers, $1,150 be written off book value of properties, and $2,500 be written off book value of wharves, leaving a balance of $27,101.59 to be carried forward to new account.
The value of the 7ths share in the steamer Powan has been paid by the China Navigation Co. Ld., and now appears in these accounts.
The Company's share of oost repairs of the S. 8. Heungshan by typhoon damage amounts 10,112.76 to $44,628.35 while a further sum of $14,525,36 50,000.00 had to be expended to complete her overhaul 62,49.1.43 | And increased cabin accommodation. 1.759,751,78
802,330.56
$5,154,697-53 $ c.
Your Directors think this expense a just call upon the Insurance fund and in consequence have debited that account with $50,000. -
Including the above sum of $14,525.36 there has been expended on the various vessels of the fleet for annual docking and repairs and cost consequent upon the stranding of the Powan and Nanning a total sum of $52,334.89.
There has been no amelioration in the severe 100,000.00 competition on all the lines operated by the Company, depressed trade, and the increasing loss by exchange in subsidiary currency, during the period under review.
2,432,704.00
2,819.00
6,000.00
2,461,523.00
No. 1 Dock Extension account. By amount paid in connec
tion with purchase of extension of Kowloon Marine Lot No. 27 By amount expended to 30th
June, 1997
400,933,74 | By value of Cosmopolitan
17,156.25
7,694.06
24,850.31
Cosmopolitan.
8802,330.56
Dock, as per last state. ment
300,000.00
By cost of one boiler for supplying steam to drive
plant
3,066.92
303,066-92
366,284.89 292,853.50
10,750.00
leaving available for appropriation $791,580.56 The directors recommend that a dividend for the half-year of 8 per cent or $200,000.00 | be paid to shareholders, pass $100,000.00 to
■ special account and carry the balance, $491 580.56, to the new account.
By value of tug, dredgers, launches,
lighters and s.8. Sorsogon
By sundry debtors
By value of material expended
on work in progress 41,151.81 By value of material on hand 1,561,967.10
30 June 1907. To interest. To crown rent To fire insurance
$
Mr. A. Babington, N. A Siebe, W. C. Cruickshank and E. Goetz, resigned their seats on leaving the Colony and Messrs. R. Shewan, A. Fuchs, C. H. Ross and W. Heims were nominated by the Directors to fill the Pacancies subject to confirmation by the Share- holders at this meeting.
In accordance with the Articles of Association Messrs. R. Shewan and W. Helms retire from the Board by rotation, but being eligible, offer themselves for re-election.
During the absence of Mr. W. H. Potts, Mr. F. Maitland was appointed to fill the vacancy as Auditor.
The retiring Auditors Messrs. A. 0. D'Gourdin and W. H. Potts offer themselves for re-election.
Hongkong, 29th July, 1907
June 30, 1907.
ASSETS.
A. HAUPT,
Chairman.
3
Value of Steamers "Honam, Heung- *** Sui-Tai" &
shan,"
"
Sai-Au,
"Lungshan "ths of “Powan, Kinshan" & frd Lintan,
11
nam, Nanning,
& "* Sanni "*
of "sai-
Do. of Lighters “Sunlee” and “Wolee' Do. of Wharves, Hulks and Moorings.. Do of Properties at Canton, Wuchow
1,123,884.11
8,000.00 68,800,00
and Kongkun
138,246.77
1,608,118.91
Do. of Spare Gear and Stores
18,807.34
Do. of Furniture
1,000.00
85,154,697.53
Do. of Shares in Public Companies
497,568.85
▸.
Do. of Chinese Bonds
683,18
56,546.35
Loans on Mortgage
346,000.00
4,075.92
Interest accrued
1,053.21
3,227.45
Premis on Insurance Policies unexpired. Sundry debtors
10,758.05
28,833.76
28,342.26
Hongkong and Shanghai Banking Corpo
1,208,00
ration current account.
13,078.86
GLUKORTIT CONSOLATE
398.61 6,900.00
2,243,724.13
REVENUE ACCOUNT.
During the past six months, twelve cargo lighters, one steam water-boat and four stern. wheelers mentioned in the last report hava been finished and handed over
to their To office expenses, salarios stationery and respective owners after satisfactory trials, To telegrams
rent of head office, one steel steam launch for Q. M. Department U. 8. A. was delivered in Manila,
To legal expouses
To marine insurance account
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