And from this have to be deducted :-
Remuneration to Directors 5 per cent. Com.
mission on net profits $5.447 44 Remuneration to General Managers 5 per o ut, Commission on net profits ..
5,447.44
Leaving available for appropria-
tion
THE HONGKONG WEEKLY PRESS AND
OPIUM.
Hovakovo, January, 23rd. Quotations are:—Allowance net to I catty.
Malwi New
$91) ta
per picul
Malwa Old
.$980
to
do.
10,894.88
Malwa Older
$1020 to
do.
Malwa Very Old
$1050 to
do.
Persian Fine Quality ..$800
to
ქი.
Persian Extra Fine
to
da.
Patna New
.8953
to
En
du
$950
to
1.
to
do.
YARN.
$109,621.11 The Directors recommend that a dividend of seven per cent, on the paid-op ospital be paid to shareholders, absorbing 8 03,0 -0.00 and that the balance of $4,621.11 be carried to a new profit and loss account,
DIRECTORS,
During the year Dr. J. W. Noble was offered and accepted a seat on the Board. The Directora now are: -Mesars. A. G. Wood. J. Boott Har ton, H. A. W. Slade, J. 8 Van Baren, Ho Tang, and Dr. J. W. Noble. accordance with rule 76 of the Company's | Articles of Association they all retire, but being eligible, offer themselves for re-election.
AUDITORS
la
Mr. W. U. Gaskell having resigned, his place has been taken by Mr. H Percy Smith, who has, in conjunction with Mr. W. Hutton Potts, andited the accounts. Mr. Potts an Mr. Percy Smith offer themselves for re-election. HENRY HU, PHREYS,
Chairman.
Hongkong, 17th January, 1908.
BALANCE SHEET.
For the year ending 31st December, 197.
LIABILITIEK.
Capital account:-150,000 shares at $10
each
Insurance reserve fund
Fund for equalization of dividend Mortgages
Sundry creditors
Unola med dividends
Profit and loss account :-
Amount carried forward
from 1906
For the year 1807
Amount invested in property
§ 11,567.15 108,948.81
Patna Old Benares New Benares Old
per chest.
of
January 23, 100S]
operations on a large scale. As usual at this time of year dealers are beginning to occupy them- selves with their annual recounts and show but little interest in fresh business. T.-Cloths.-A sale of Four Birds at Tls. 3 05 in all that we hear Auctions firm. Jeans. A better feeling is noticeable and sales have been made public in Beaver Seven Lines and Beaver Five Lines. Prices at auction improved for some makes and declined for others. White Shirtings.-The tone of the market is improving steadily, though operations are naturally limited by the approach of China New Year. Auction chops were firmer all round. Drills and Sheetings. — In the former no business appears to have been done and quotations are practically unchanged. Newchwang Merchants have been looking round for further small supplies of American Sheetings and we hear that resales have been m vle to that port. Dred and Fancy Cottons. -We have nothing much of interest to report under this heading, Chinese being still content with picking up cheap second-hand lots whenever they have any orders to fill. Fast Black Cotton Lastings were very irregular at the auctions, but the general tendency was towards
Business has been confined to the auctions where all Woollen goods were steady to frin. Cotton.-- The market for the local staple has shown but little life during the week, and prices have under- gone very little change: Yaru.—The uncertainty
from exchange
day to day naturally disorganized business in Indian and Japanese Spinnings to a great extent, but the market generally speaking is rather ficner, and more expecially for good Indian 20 Local yarn is quiet but steady.
Mr. P. Eduljee, in his Report, dated Hongkong 24th January, 1908, states: -Soon after the departure of last mail an unexpected brisk demand from the country set in, and a much
business larger
has been done during the interval than has been the case for some months past. The demand has been general and almost all counts have been dealt in, No 104 attracting by far the largest amount of attention and formslightly lower prices. Worsteds and Woollens, - ing nearly two-thirds of the settlements, V altucཡ have appreciated $1 to $1 per bale, the favourite connt participating largely in the advance. No. 2014 have been in fair request for the Northern and Tonkin markets and show a small advance,
of
ar
No. 128 continue unchanged and great disparity is observable in the prices of this cunnt as com • pared with thu » of Na 108, of one and the same spinning. Supplies are running down and if shipments are maintained on their present scale. importers will have a chance of working off old holdings which have been unsaleable for many months. The market closes string with an Mours. Noel, Murray & Co.'s Report on the $1,500,000,00
217,426.00 improved prospect. Sales of the interval aggm. Shanghai Piece Goods Trade, dated Shanghai 50,000.00 gate 7,881 lales, arrivals ni ant to 2,365, unsold 17th January, 1908, states :-The indications seem 30,000.00 stock estimated at 41,000 and sold but uncleared to be that the market is practically already closed 12,275.70 hales in second hands at 17,000 hales Local for the annual settling, although China New
1,976 59
Manufacture: Nothing doing, Japanese Yarn —
Year is still more than a fortnight off yet. Stocks Sales of 135 balos No. 20×4 at $118 to $134 aro have got into strong hands now for the inost part, reported. Raw Cafton :—The market in India is
and the intention is to hold them for all they worth, at least as far as staple goods go, very strong and sales here are checked by the 120,515.99 firmness of holders. – Sales reported are 270 baleg
hut with Fancy makes the liquidation is a very With the Anc- superfine Bengals at $21 tà 25 and 100 hales | painful and lingering process, $1,961,194,28 | China at $25). Stocks are $1,650 balez Indian tions offering opportunities, of baying for delivery a1450 hales China. Quotations are £20 to 25 a month ahead the same terms are wanted for Indian and $24 to 264 China Exchange on India | private sales, but first hand holders are more dis- has fluctuated slightly and closes deady today | pessed to take the risk of the market themselves at Rs 143) for TV and Rs. 1431 for Post (in if the Transaction has to be kept open for so long. Changhai 73 and on Japan DI. The undernoted | Exchange has been much more steady during the 52800 419.70 business in imported and local sinnings is | interval, but its future movements are just as
reported from Shanghai during the fortnight 3,108.78 endo the 18th in-tant, viz: - In-lian :-With a brisk demand and firm holders priced hire $1,964,194.28 | advanced 1 to 2 Taels per kale, market closing firm. Total sales about 6,501 balex with an estimated stock of 62,000 unsold, and 24,000 uncleared biles. Japanese: -- About 2,004 bal s No. 168 and N, 202 are reported to have changel hands on the basis of The K9 to 93 and Tix. 96 to 193 Local Alout 35,001 bales are reported sold at unaltered rates,
ÁRNETS.
$1,621,090,5.5 310,712.57 24.034.64
Amount invested on mortgage
Accounts receivable
Office furniture
Fire insurance premia unexpired
Cash in Hongkong and Shanghai Bank
and on hand
Dr.
PROFIT AND LOSS ACCOUNT.
December 31st, 1907.
To fire insurance premia
To crown rent
To general charges
To allowance to general managers to cover
office rent and salaries of secretary and
clerks
To repairs
To auditors' foos
To balance
Cr.
January 1st, 1907.
By balance carried forward from 196
December 3st, 1907
By rents......
By interest
By transfer fees
By commission
COMMERCIAL.
COAL
$8.6 42 5,099.32 2.42 15
gamespo 3.560,29 21,00 129,515.99
$145,475 77
$11.57.15
1 1,42
2
32,2 5 17
12
9113
$145,475.77
Messrs. Hughes and Hough, in their Coal Report dated Hongkong, 24th February, state that 14 steamers are expected at Hongkong with a total of 66,700 tons of coal. Since January 11th 10 steamers have arrived with a total of 37,330 tons of coal. Market quiet, Quotations ---
Cardiff.
to 8 ex-ship, nominal Australian $11.50 ex-ship, sellers. Yabari Lump...$12.00 nominal. Miki Lump...$10.00 nominal.
Moji Lump $6.50 to $9.00 e1-ship, steady. Moji Unscreened $6.00 to $8.00 8x-ship, steady. Akaike Lump...$8.50 to $9.00 steady. Labuan Lump $8.23 nominal.
PIECE GODS.
From Mesars, Mort & Co's Weekly Market Report, dated Shanghai, January Hith, 19US Ax China New Year appevaches business usually becomes stignant, and this year is no exception to the rule; although large linex of goede ar obtainable from stock at considerably less than | they could be replaced for. Chinese show th
|
uncertain as ever. Cotton has proved a strengthen- ing feature, but there is a cloud hanging over the Lanenshire trade which has become more We refer to the portentous during the interval, threatened lock-out of operatives which is assum ing enormous proportions. From the meagre information contained in the public telegrins, | beyond the fact that upwards of 200,000 opera- fives are likely to be affected, it has been quite impossible to grasp the situation that has been suddenly. One explanation is that on acrount of the shortness of the staple of much of the Catt-n this senson, the operatives demand an merease in wages owing to the extra work entuled, while on the other hand spinners want to reduce the wages to counteract the additional cost of running their machines, which would A otherwise be done at an actual dead loss decision is to be arrived at on the 18th instant. In the meantime thurs is next to nothing going on between this market and Manchester, which is
ervated
anxiety to buy, which is perhaps natural enough, | unchanged from last week. Cotton has recovered
|
Some
as they have unsold stocks of their own for which in the Liverpool market and after one or two they cannot get even the comparatively low pris slight mactiona closed vesterday at 11.291 for Mid now being asked by foreign importers. There is
American The quotation "Futures" yesterday no weakness in the market, as every one hopes
wat 3 Sol when the spot price was 61.241 that when business is resumed, after China New further purchases are reported in New York for Year, there will be a revival and sotne real activity this market, chiefly light Sheetings, but it is to based on consumptive demand; in the meintitne be hoped five buying will not l»» oncouraged until the majority of importers are prepared to wait
the stick in this market be substantially reduced. and look on. Written advices from Manchester There will probably be room for fresh supplies of report a large business having been done for Drills about May or June, but there are sufficient China in the finer in skew of grey shirtings and
Sheetings here to keep the trade from want for telegrams are to the effect that sinall purchase
the next seven or eight months. The latest New are going on for this market in standard inakes, York Cotton quotation is 10 99 for March option, New York also advises purchase for Shanghai,
Clearancea for the River have kept fairly natis- & for Teatrin direct, so that some muperters have factory. Small supplies are going North via evidently confidence in the future although there! Chingwintao and Dalny, the conditions of trade
10
is a wide margin between current rates here and both Tintain and Newchwang having im- the prices paid on the other side
All the pre
proved newhat, the financial position being The R-turns are by no ducing markets are firm, and if demand continues rather better. Stocks there is a prospect of cotton being in short supply menns complete yet, sovural prominent holders of before the new sesson's crop can be placed on the
«tte having failed to send them in. If this is market. Exchange is perhaps the most important
not done by the 20th instant it will be impossiblə As re- factor at the moment in preventing Chinees from to publish them in time for the next msil laying down supplies for Spring." The changes | garile transactions during the interval, they have rapid that great uncertainty hangs over continued on a retail seslo, but the selling from the trade from day to day, which tends to curtail first hands is by no means general.
AT BO