September 21, 1907.]
meeting, to be held on Saturday, September | 28th reads
The general managers have now to submit to the shareholders their report on the twenty- fourth year's working of the Company, ending June 80th, 1907.
After paying all running expenses, Premia of Insurance, remuneration to the consulting committee, and auditors' fees, the amount at credit of profit and loss account is $117,488.15 which with the consent of sharehol ters it is proposed to appropriate as follows:-
To pay a dividend of 8 per cent, on the capital of the Company, absorbing $8,000.00 and to write off the balance of $37,488.15 from the values of the Company's properties on June 30th last.”
The improvement in the year's working it is hoped will be considered satisfactory, in view of continued keen bompetition and
consequent low rates of freight now existing, coupled with the high price of coal during a considerable portion of the period under review.
The steamers and other properties of the Company are all in first class order, but the expenditure for overhaul and repairs has been unsually heavy.
The West side of the Wharf has been leased to the Hongkong, Canton, and Macao Steam- boat Company.
The amounts appearing as freights due'
and "accounts receivable since been collected.
on 30th June have
CONSULTING COMMITTEE.
Since the last general meeting, Mr. A. Babington and Mr. W. J. Gressou resigned their rests on the Board and Mr. Robert Shewan and the Hon. Mr. Heary Keswick were invited to fill the vacancies. The Com- mittee now consists of the Hon. Mr. Keswick Mr. R. Shewan and Mr. A. G. Wood, who retire in term of the Articles of Association, bat offer themselves for re-election.
AUDITORS,
The accounts have been audited by Mesara. A, R. Lowe and F. Maitland (the latter acting in the absence of Mr. W. H. Pults). Mosers. l'otts and Lowe retire, but offer themselves for re-election,
DOUGLAS I APRAIK & Co.,
General Managers.
PROFIT AND LOSS ACCOUNT For the year ended 30th June, 1907. To dividend paid for year ending 8 c.
30th June, 1906
To amount written off for depre.
ciation for year ending 30th June, 1906
To exchange account
To auditors' fees
50,000.00
11,809.45
To remuneration to Consulting Committee
for 12 months
To remuneration to General Managers for
office expenses, for 12 months
To balance...
$
C.
€1,800.45 908.15 600,00
2,000,00 10,000.00
117,488.15
$192,805.75
By balance of profit and loss account, 30th
June, 1906
By general interest account.
By interest on mortgage secount
By coal account
By profit on running the company's steam.
ers during the year...
$ c, 61.809.45 1,922.51 47,854.82 1,006,00
80,212.97
$192,805.75
BALANCE SHEET for the year ended 30th
June, 1907.
*
LIABILITIES.
Capital account :--
20,*: shares at 350.
Reserve fund
Under writing account of the company.
Sundry accounts payable
Unpaid dividends.
Unpaid bonus
Profit and loss account
ASSETS.
$ 0.
1,000,000,00 264,638.7J
CHINA OVERLAND TRADE REPORT.
Value of buoys and moorings
at Swatow, Amoy, Tamsui and Hongkong, as per last Less amount written off as
report
resolved at last general meeting
Loans on mortgage..............
34,310.29
Hongkong and Shanghai Banking Cor-
poration (current account) Hongkong and Shanghai Banking Cor-
poration (fixed deposit) Freights due on 30th June, 1907. Sundry accounts receivable from agen
cies, &c... Coal account, stook in hand. Unexpired tonnage dues
Cash in hand...
185
The following are Statistics at date compared with the corresponding circular of last seasOTI, viz., 12th September, 1906.
1907.
HANKOW TEA. 1-Chests.
1906. -Chests.
2,809.45
Settlementa
..484,187
376,910
31,500.84 576,000,00
48,512.31
Shipments to Shanghai
on Native account 4,900
45,235
Stook
29,448
88,072
50,000,00
Arrivals ...
...518,535
450,217
51,675.72
1907.
1906.
64,587.69
KIUKIANG TEA. -Chests.
-Chesta.
1,235.18
Settlements
...181,558
158,018
2,038.40
Shipments to Shanghai
1,847.86
on Native account
nil
Stock
$1,503,958,00
15,827
10,652 2,527
Arrivals
... 197,885
171.197
OPIUM.
COMMERCIAL.
The Yokohama Prices Current and Market Report, published by the Yokohama Foreign Board of Trade, and dated Yokohama, August 30th, 1907, has the following:—
IMPORTS,
HONGKONG, September 19th.
Quotations are:-Allowance net to 1 catty.
Malwa New Malwa Old Malwa Older
$880 Malwa Very Old
***...$900 Persian Fine Quality.$700 Persian Extra Fine ...$750 Patna New Patna Old Benares New
Yarns.-Market very dull. Shirtings.-Business has been much interfered with by the interrup- Benares Old tion to railway communications in this district. Fancy Cottons and Woollens.-The market is at a rice crop has not suffered to the extent at first standstill owing to the flood. It is said that the
in the near future. Metals.-A rather new feature anticipated, therefore a revival may be expected in the situation has been a sudden weakness in the Osaka market, which has hitherto been stronger than the Tokyo. However, the local market has not been effected seriously, and while enquiries are not numerous, the tone seems to be more hopeful than for some time past. Kerosene, -Market steady. Sugar.-No change to report. Indigo (Natural).-Nothing doing.
EXPORTS.
Tea: -Market unchanged. Total settlements from May 1st to August 30th amount to 94,594 picnls, against 94,134 piculs at the corresponding date last year.
GENERAL EXPORTS.
Copper. A few transactions for China are re- ported at about yen 48 per 100 kin. Home mar. kets are still considerably lower. Fish Oil.- Further large sale; are reported at yen 7 up to yen 7.35 per kin,
SILK REPORT.
Our last report was dated the 16th ultimo, and since floods and rain have played havoc with our market. Not only have these floods interrupted communications with the interior, thereby caus- ing a scarcity of supplies in Yokobama and driv. ing prices up as high as yen 1,315 for No. 1-14 Shinshiu Filatures, but considerable damage has been done to the autumn crop of cocoons, which is expected to be short by about 50 per cent. The
result of this state of affairs is that at the time of
writing only very few desirable parcels are avail. able for prompt sale and shipment, and that the total out-put of rawa available for export during the current season must be reduced to about 100,000 bales. The restriction against the 3 re- reel factories mentioned in our last report is still maintained,
WASTE SILK,
Our market has not undergone any change since the last cironlar. At a meeting of foreign waste silk exporters held in August it was unani- mously decided that exporters of waste silk agree not to buy any Kibizzo (Kikai Kibizzo down to 96,988.3 low grades) containing fraudulent matter. 24,030.24 result of this resolution samples so far to hand
prove to be satisfactory in this respect.
674.50 198.00 117,488.15
$1,508,958.00
$ c.
$ 0.
Value of the Co's steamers :---
Haitan, Haiching and Haimun, as per last report 885.000,00 Add alterations since made... 700,00
Less amount written off a resolved at last general meeting
TEA.
As a
HANKOW, 13th Sept., 1907.-Business reported since the vlat inst.. is as under:-
$685,760.00
+
9,000.00
676,760,00
Settlements Shipments to Shanghai on Native acoomat
***
1907. -Chests.
2,881
nil
+
1906. -Chests,
nil
8,000
.$780 to
per pienl
.$840 to
do.
to
do.
to
do.
to
do.
I
to
do.
to
per chest.
.$805
to
do.
$800 to
do.
do.
$795 to
COAL.
Messrs. Hughes and Hough, in their Coal Report of 19th September, state that 18 steamers are expected at Hongkong with a total of 65,500 tons of coal. Since September 5th, 11 steamers have arrived with a total of 31,800 tons of coal. Business has been small and confined to re-sales of Japanese. Prices unchanged · other kinds neglected. Quotations :--
Cardiff.
$14.00 to 15.00 ex-ship, nominal, Australian .$11.50 to $12.00 ex-ship, nominal, Yubari Lump...$12.00 nominal Miiki Lump...$10.00 nominal.
Moji Lump......$6.50 to $8.50 ex-ship, steady. Moji Unscreened36.00 to $7,50 ex-ship, steady. Akaike Lump...$7.75 to $8.00 steady. Labuan Lump $8.00 nominal.
YARN.
Mr. P. Eduljee, is his Report dated Hong- kong, 21th September, 1907, state::-There has been some little movement in this market daring the past fortnight and sales to the extent of 5,800 bales are reported as noted below, values, however, being barely maintained. Demand has, as usual, run principally on No. 10s, which comprise nearly three-fourths of the total settlements. In No. 16 only two spinnings aggregating 50 bales have been sold, and on comparing sales of the last eight months with those of the previous years it would appear that this count as well as No. 8s are gradually going out of consumption in this market. Receipts continue large, but have been more than counterbalanced by the off-takes, and our estimate shows a small falling off. At the close prices are generally easier, but at the same time, while holdes are meeting any demand which exists, - there is no real pressure to sell in the me intime. Sales of the interval aggregats 6,3 6 bales, arrivals amount to 8,844, unsold stock estimated at 89,000, and sold but uncleared yarn in second hands at 24,000 bales. Local Manufacture :---Continues with- out enquiry. Japanese Yarn:-8ome 150 bales No. 20s are reported to have changed hands at $124. Raw Cotton-A perfectly blank fortnight has been experienced in this article, not a bale either in Indian or China descriptions finding buyers. Stocks: 1,850 bales Indian and 400 bales China. Quotations are $18 to 20 Indian and #21 to 24 Chinese. Exchange on India has slightly fluctuated and closes steady to-day at Rs. 168 for T/T and Rs. 1861 for Post. On Shanghai 727 and on Japan 108). The undernoted business in imported and local spinnings is reported from Shanghai during the fortnight ended the 14th instant, viz:-Indian :-There hes been a revival in demand, and at the close an advance of fully to two Taels has been established in most spinnings. Total sales about 10,000 bales with 'an esdimated stock of 118,000 bales, market closing strong. Japanese:-Market quiet, prices ossier. Total sales about 1,200 bales on the basis of Tia. 83 to 831 for No. 168 and Tla. 89 to 94 for No. 208. Local:-No business from first hands is reported.
one