146
will
Our
hope
in remunerative prove
the future. We propose to carry forward the sub- stantial sum of Tls. 107.54.50 to the next account, which leaves us in a strong position for the present year. Our rental account has increased by the very satisfactory sum of Tls. 54,000 while repairs atc., account has not been subjected to the "extraordinary, charge of last year and is less than in 196 by about Tls. 20,000, but our properties are all well kept up; gradual improvement of the various estates being secured by our doing all structural re. pairs in a substantial manner, which though more expensive in the beginning is the best economy in the long run. Interest account is the differ. ence between what wa pay on debentures and overdraft and the receipts from our mortgages
satisfactory balance, as and shows & mortgages are very liberally covered. Of the other side of working account there is little need of explanation. There is a small increase in charges, salaries and rental, resulting from our growing business. The trustees' remanera- tion is slightly ad led to in respect of a furthər debenture deed drawn up to cover the last issus of debentures. In profit and loss account you will find that during the year we have sold certain have considered it properties on which we desirable to realize, giving profits amounting in all to Tls. 136,583.47. Reserve fund stands in the accounts at Tls. 869,493 51 and as we propose to add now the amount of premiums derived from the recent issue of capital-Tlz. 653,552.21-it will then reach the sum of Tls. -1,523.045.72 or nearly forty per cent of our present capital. The reserve fand special account remains as before at Tls, 170,000 and is as you know available at any time when Io required for equalization of dividends. the balance sheet you will find the cost of our several properties with the additions thereto duri g the year. Our mortgages, amounting to Tls, 2,704,14 are, as I have already said, very fully covered. On the other side of the account is shown our Capital increased by the last issue to Tls. 9,900,000 and hare added Tls. 112,000 to our issue of six per caut debentures. We shall probably issue a further instalment shortly. We have expended during the year about:-Tls 418,000 on undeveloped land, 413,400 on new buildings, 17,800 on land and buildings together and hiva every reason to be satisfied with these investments. As to the future I can pretty nearly repeat my remarks of a year ago and what I said then has been quite borne out. Wo have several properties that will commence or increase their earnings this year and there is every reason to believe that a year hence we shall be able to lay before you a no less satisfactory report than that which we have presented to you to-day.
We
There were no questious, an the following resolutions were put to the meeting aud carrie ananimously:-
That the report and aconun's as presented be accepted and passed.-Proposed by the Chair- man, seconded by Mr. J. M. Young.
8
That the directors be authorized to pay final dividend for the year 1907 of six per cent and a bonus of fuur per cent on the paid up capital to all shareholders on the register this day. Proposed by the Chairman, seconded by Mr. C. W. Wrightson.
That Mr. H. R. Kinnear be re-elected a director of the Company.-Proposed by Mr. Dallas, seconded by Mr. Sayer.
THE SOY CHEE COTTON SPINNING CO., LD.
THE HONGKON WEEKLY PRESS AND
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gloomy all through the summa", the mill was put on reduced production thereby natural y somewhat increa-ing the cst of production per bale.
The balance at credit of profit and loss account at the close of the year after allowing for interest, Directors' and Auditor's fees, and General Manager's commission, amounts to Tle 26,129.27, which the Directors propose to deal with as follows: --
To write off 2 per cent for deprecia
tion of machinery..
11
write off 10 per cent, for deprecia-
tion of furniture
write off 21 per cent. for deprecia-
tion of building:
absorbing altogether Tls. 24,231,58
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[March 2, 1908.
Testament. Then we turn to the Psalms with the sweet melody which they contain, the poetic imagery and their depths of human emotion that psalm for instanc-expressing the depths of despair beginning My God, my Then again God, why hast thou forsaken me. the contented mind that the Psilmist speaks of in the beautiful little ode "The Lord is my shepherd, i shall not want,
you
He makath me to
Lord, for
lie down in green pastures. He leadeth ma Tla. beside still waters.' Then again he bursts into ...17,153,04 ! thanksgiving and praise in that psalm which
the has
refrain running through it 286.50
"All ye
the creatures praise ye Him ani praise
Him magnity I think
can Aad ia no 6,791.99 ever."
other book words which so stir the human | imagination and bring a response from every human heart. Then we go on to the other books. Take the rugged poetry of Isaiah 'Every one that thirstath come ye to the waters. Then again that familiar chapter that we know so well as an oratorio “Comfort ye, comfort ye, my people, saith the Lord, ' Then again the image which I and others who have been in desert places in Africa can realise so well, "the shadow of a great rook in s weary land, a cover from the tempest, as rivers in a desert country.'
leaving a balance of Tla, 1,897.74 to be carried forward t new account.
BRITISH AND FOREIGN BIBLE SOCIETY.
HIS EXCELLECY ON THE SCRIPTURYS.
HIS EXCELLENCY addressed the meeting. He said: Ladies and gentlemen -I have been asked to propose the following resolution: "That this meeting of subscribers and friends in Hongkong of the British and Foreign Bible Society hereby inaugurates a Hongkong auxiliary of the British ant Foreign Bible Society and reque-te the following gentlemen to serve as officers of the auxil ary-Perpetual 'resident, the Bishop of Victoria; bon. treasurer, Dr. Saunders of the Taylor Hospital; and hon, secretary, the Rev. T. W. Pearce,“
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Then we come
A public meeting, in furtherance of the in. terests of the British and Foreign Bible Society
to that wonderful book of Job which I think in Hongkong, was held in the City Hall last
is the most marvellons book in this earth, a evening when II.E, the Governor presided over
book which teaches the acc-ptance of the great a good attendance. Sir Frederick was accom- panied on the platform by the Bishop of Vic-laws of nature and the laws of God, and the Į foria, the Ven. Archdeacon Banister, the Revs. I impotence of man which tries to set up his T. W. Pearce, C. H. Hickling, F. T. Johnson will against them. Canst thou bind the sweat
4. H. Bondfield C. Bone,
of Shanghai iuflunces of the Pleiades or loose the bonds of (agent in Chios of the British and Foreign, Orion." And then we pass to the book of Ecclosi- astes, a book full of wisdom and pathos, Bible Society) and Mr. Hans Doering of Cho- ton (subigant). After the opening exercises the especially that last striki g chapter, the R-v. T. W. Pearce called attention to the liter twelfth, with its wonderful symbolism and
of phases baman life,
at winding up ature setting forth the objects of the prom ters
the end with "When the silver oord is of the meeting.
loosened and the golden bowl broken when the voice of the grasshopper is a burden." Then we come to the New Testament, only about a quarter of the whole volume, and we recall that quarter contains the teachings which have revolutionised the earth teaobings which have spread from east to west and have
whole permeated the
grest continent of America and which by the agency of societies like this is being spread to every
Aarth of the
where humaa species
creed boast of a pre- face to rival the simplicity of diction, the forcible and clear statement of the Sermon on the Mount, the life and death of Christ, or that story of the Ao's of the Apostles, the incisive and scnte reasoning of St Paul and its extra- It is indeed, ordioa y diversity of interest. ladies and gentlemen, & anique book a book of books, the book from which we have taken the name of this Society. If I dwell on the value of the Bible from its literary and historio point of view it is not that I lose sight of the fact that these are not merits over which this Society
quarter of a million *peads &
I have not year in distributing the Bible.
i. myself dwelt on the other side, that to say that it contains foundations and is the fountain and source of the Christian
found. Can There are gentlemen no the platform including the Bishop of Victoris who are much more able to speak than I am on the by obj-ots of this Society and the means which it proposes to achieve those objects, 80 I shall not trouble you with a long speech and cartail the opportunities of the other speakers in making a full exposition of the subject. The object of the Society is, as you know, to translate the Bible into every koown language spoken and distribute it in every part of the world. The Bible Society has been instrumental in translating it into over four hundred different languages and it distributes yearly, as I see from the report, over two world I million copies throughout the remember
conversation
Rome time ago В
擒
to
ba
!
any
corner
are
E
in which the point was discussed whether if you
were wrecked од a barren island¦ religion and the object of the society is to promote that religion. I have left that side because there are gentlemen on this platform who can speak with greater weight and more ability than I can on that side of the subject. I have been asked to propose this resolution and I do so with confidence as I think the Bible Society is one we can support sa being among 'other things a non-sectarian society, bat I would like to say one word of warning. i read in the report that many thousand copies of the B ble bare been distributed in China, the cost pric, of which is two shillings and the selling
The cost of pro- daction isolades the cost of printing, etc., I have heard, but I hope there is no truth in that report, that copies have beva sold at leas than cost price, at less than the commerical which they market valge of the material contained.
the
price sixpence.
or if you found yourself fated to spend an Arctic winter alone and you bad content with one single book, what book would you prefer. One said Shakespeare, another said Adam Smith, and others made other selections, That Mr. G. R. Wingrove be re-electe l
but the best and most widely read man said the auditor for the ensuing year. -Proposed by Mr.
And it is, ladies and gentlemen, su McLeod, seconded by Mr Crawford Kerr. | Bible. That a
book of anique bonus of ten per cent on their absolutely unique book,
historic interest. If you look at the majestic salaries be paid to the staff.—Proposed by Mr.
the the story of
evolution simplicity of Tripp, seconded by Mr. Crawford Kerr.
of
earth from chaos
told io the first chapter of Genesis, a description which science has only tended to corroborate in all its important essentials.—if you tara then to the history of the Hebrew nation from the time of the patriarch in the desert watching his floke and herds, through the period of the judges, through the period of the kings, and call to
There will be a subsequent re- mind some of the extraordinarily interesting stories which are told of that period-take for solution appointing a committee and I would instance the description of Elijah on Mount urge the gentlemen elected to pay attention to Carmel, or the death of Ahabat Bamoth Gilead, that point. The Bible should not be sold at I think there are no stories which if we have | less than the cost of the material of which it is I will not d tain you longer bat heard a thou and times thrill with the composed viridity of their diction and graphic descrip. ↑ will ask the Rev. Mr. Bondfold to mcoad the tion as the old wonderful stories of the Old
The General Manager publishes the following statement of accounts for the twelve months ending December 31, 1907.
regret the The Directors
unfortunate result of the year's working, but it must be borne in mind that prices of yara have fallen approximately Tls, 10 to Tls. 12 per bale since the beginning of 1907, as a consequence of which several of our customers had to saspead pay. ment, and the Company were obliged to resell the yarn at a corresponding loss, which aggre. As the outlook was very gales Tis. 27,756,52,
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1
resolution.
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