C
194 competition t 2011 yards range, and this is in progress mouthly at the Pak Range,
China Mail" Cup-The undecided tie ba. tween Messrs. P. P. J. Wodehouse, A. W. J. Watt and J. H. Pidgeon left over from last year was shot off in April when Mr. A. W. J. Watt was declared winner with eight hits out of ten shots,
THE HONGKONG WEEKLY PRESS AND
Until and including the mouth of Sep ember · trophies were presented by the Association to: the members making the three highest se ra in each cap competition during each menil, but owing to want of funds and to the small numbers competing it was decided by the Committee to present a spoon to the winn-re only for the remainder of the year.
Pool-Pod competitions were held in con- nection with each cap shoot.
Chins United Service Rifle Association, At the annual meeting held in April, Mr. A. Jenkins secured the 50 yards championship with the highest possible score of 35.
Interport Challenge Shield.-Mosgrs. J. H. Pidgeon, A. Jenkins, and J. C. G-w were se- lected to represent the Association in the inter- port team match held in October, and were placed 3rd, 5th and 9th.
the
White Horse Trophy le match-betweeni the Hongkong Volunteer Corps and Association for the trophy presented by Mr. Mackie of Lagavulin. Scotland, was decided on the 21st December. The Association team was successful in winuing the trophy for this, the first year, with the score of 831 against 824 Mr. W. G. scored by the Volunteer team. Stackwood headed the winning side with an aggregate score of 89.
COMPANIES.
H. PRICE AND COMPANY.
A meeting of the shar holders in this Com
bild on March 18, at the effice pay was in Queen's Rad. Mr. G C. Moxon presided and there were present Messer, J. cul Hars. 108, A. Rumjchn (directors), A. E. Robinso (man ger), G. T. LU·5d, E. Williams represent- ing A. R. Lowe, and Ellis Kado ris
The SECRETARY having read the notice convening the meeting,
[March 21, 1908.
1 which the directors recommend should be utilized, first, to write off for depreciation on casks, tuachinery and buildings the considerable amount of $17,743,00, the policy of writing down the relu- of our assets being one that strongly commends its 16 to the Board; second, to the payment of a dividen of 7 par cen', 91 our share capital absorbing 331,087,0)), and third, carry forward to new age-jut $1,471.01. Batore prop sing that the r port and accounts as presented be approved and passed, I will endeavour to reply to any questions shareholders nay desird to ask.
The usual ran utions were then adopted,
COMPANY.
The thirteenth ordinary general mesting of This company wa- held at the offices of Messrs, Arnhold, Karberg & Co, Shanghai on March
The CHAIRMAN said :—Gentlemen, Thorss port and accounts having teen in your hands¦ THE SOY-CHEE COTTON SPINNING fr s m days past I propose to follow the usual custom to take them as read, As you are aware the Company commenced business on the 1st April list year but was not incorporated until The profit mad. during that the 25th June. interval wa8 4,657.47 as shown in the rolit aud loss acc, upf. A question has arisen as to the legality of utilising tis sum for divid, niļ purposes. To meet this doubt it is proposed to Set aside thum of $5400 as a spicial reserve. After writing of all apparent bad deb's your Directors bare considered it advisable to mak A
$2000 further provision of
AN
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The Chair Was occupied by Mr. Mittag (Chairman), wl o said : ~The report and accounta with regard to the working of our mill during 1907 have been in your hauds for some time, and with your permission. I will dispanse with the formality of reading them. As you will have we begin the year with a balance at credit riserva for bad and donb ful debis and to of profit and loss account of aels 5 663 40, and now carry forward Tuk 26,129 27 only; the working, after deduction of renewals, interest, etc., showing, a loss of Tang 24,534 13. Your direct ra grily regret the unsatisfactory results attained during the par under review. As you
સ dirideud at the rate PAY
It per The stock bas ben taken cut per aboum.
Bingham ́and valued by Messrs. Lows and
The Compy with the assistance of our staff. has ben doing an increased business sine, its formation and the prospects are neuraging. We
prant a great number of the largest disti ling, b.ew ng and wine growing empruins n England: nd the Coatiseut und having a big turnover are enabled to sell at priesthat indue, We have entered the support of the publie iuta special arrangemen's with the Philips pina Cotopang to handle their well known 1 " Comercial cigars and shall be in a position fo quote exceptional y low prices. A- it is absolutely necessary that cigars should le presented to the public in the very bist of condition, we are installing here a drying room specially constructe{ for the storage of cigars, Before moving the adoption of the report and sisteme.t of accun's fo- the year 197, I shall be pleased to answer any questiou that may be put to me to the best of my ability.
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n doubt awar» the year has b-en one of dept r ble depression all round, and cotton sptonin in the Eist has suffered proportion. ately. It has, in fact, ten the worst year axpri-read for some considerably time, the unsatisfactory position being mainly attribut
ble to the following adv-rse circumstances: The consumption in the River ports was abnormally small no doubt as a result of the failure of the crops in 1908 and the oon-equent famine, the effects of which are still being felt severly along the whole Yangtze Valley. Also formerly a very brisk trade in cotton gooda, our spinnings, wai done with Manchuria. But sincs th, Japanese bave obtaine the predomiaating i fluence in that province, this has been almost entirely closed t... U.
Furthermore, the high rate of hang ruling the beginning of year WHE very much in favour of Japanese and ludis spinnings, and in October, when exch nge dropped, the stocks of Indian yarns so enormons, that local spinnings were almost out of the market. Thn wotton crop for some tim look-d exoedingly bad, and
Woven
from
Other Matches.-Fri ndly matches were shot off against H.M.S Waterwitch, U.S.S. Cincin- natti and N.K. Volunteer Troop, when the A-sociation
8 victorious The team had, however, to own to defeat in June last by the, H.K. Volunteer Corps by a margin of 15 points out of 674 made by the Volunteers.
New Competitions for 1908.-The Hou. Mr. f..r F. H. May, CMG, has presented three cups competition in the new new year in Classes A. B. and C. according to handic.ps. Mr. G. H. Medhurst has presented three Landsome cups The condi- for competition during the year. tions have not yet been decided upon.
Peak Range: The 8 4 yards firing poin' at the Peak Range was opened on the 21st Sep. tember, when His Excellency tha Governar, Sir Frederick Lugard, K‹ Mit, honoured the Association by firing the first shot. Ludy Lugard also graced the e rem-ny with her pre-ence. The e mpletion of this ing point fills a want log fell by members, and it is hoped that more advantage will be taken of the opportunity thus pres nted for long range ANGLO-GERMAN BREWERY CO., LD. though it rallid a little, the fibre was very shooting than so far has been the case.
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Ther· being no question, the report w:8 adoptel cu ti motion of the CHAIRMAN, scended by Mr. LLOYD
The CHAIRMAN--- Dividend warrants uro Bow ready, gentlemen, a do suh-hud on application Thank you for your aliondane.
brongit
The annual meeting of this company was held The meeting wust elect, in accordance with
Mr A. McLeod rule 9, & Committee consisting of a Chairman, ; at 8.anghai on March 11th. a Scoretary, who will also act as Treasurer, and eight other members. Members who have Ferved during the past year are eligible for election but Mr. W. H. Trenchard Davis has resigned and Mr. F. Maitland is going away for long learn auf des not seek re ch ctio His Excellency the Governor has sought the sanction of the Secretary of State to,
enable grant to
tba Association to employ a paid Secretary. That auction has not yet been received; it will be necessary, therefore, to proceed to the election Honorary Secretary, as Mr. H. S. Carruthers is unable to continue to perform the duties of that office. The grant, if sanctioned, will not be continued beyond the current year unless the present strength of the Association is insiniain. ed, and there has been in His Excellency's opinion, an adequate attendance of members at the ringe during the year.
H. S. BERKELEY,
of &
Chairman.
Wire
Th
at
Ox. the
lacking in strength. Owing to the unsstis- factory position of the yarn market throughout several of our best customers had to year, suspend payment, and we were obliged to re-sell our production with a heavy loss at a time when gedowns were filled to overflowing, and bayers could only be tempted by substantial concersious, Owing to the entire absenos of demand, we had to carry, during the entire yea, a stock ranging
In view of the very from 400 000 bales. uLertain position of the trade at the -BAGO, your directors did not feel justified in buying cotton to a large extent but, as things turned out, prices rose so steadily, that it was impossible
to cover
(Ci aitman) said—Gentlemen, The report and accouns of the company for the year ending December 1, 1997, having Le-u in your hands for some da s, I will ask you to permit us to You will see from the take them as read. accounts that the result of tun year's working, including the balance of $ 66 forward from 19 6, is the transfer of $543aLof to the credit of profit and less account equal to a fraction less that 12 per cent on our capital, which in a year of depression and financial stringency such as has existed in the China trade
our requirements of raw material at during 1907 you will, I trust, ersider fair'y
profitable rates, and it was decided to curtail satisfactory. But for these adverse circum production, which usturally means a loss to the stands our business would, we believe, havo mill. Further, daring the summer months largely increased during the year; - it is, we when native hands work slowly on account of
and are able to pay the have held our own
the great heat in the mill buildings, your directors deemed it advisable to close the mill same dividend as in 196, amely 7 per cat.
take The brewery has ben wirk-d in a very satisfac. altogether, and that opportunity of toy manner, and Te nomy
combined with thoroughly overhauling and c'eaning the fficiency under our capa'le brewing master has machinery and boilers. This was done and rexalted in a satisfactory improvement in the they are now in first-rate working order. Con. quality of different descriptions of bar we sidering all these adverse circumstano 8, and brew, including a new kid callel Gold | the fact that during the year under review the Export" which has become exc-eding popular | mil has been working only eight months, whilst
berr
In view of the increased number a disputes | and meets with a ready sale, being a really first. between Christian converts and the masses ia | class beer. The larger accomm dati-n we now the various provinces II.E. Yuan Shih-k'ai, have in the brewery o-llars not only enabl.... President of the Waiwupu, proposes to establish us to stere large qu«a'ities, but als all wa thoroughly to ma'are This a Chiao Wu CLü, or Bureau of Missionary | the
is a rustler of Terv Affair, which will be charged with the settle-
im. great ment of all mesionary questions. A memorial
only for cask but e-p∙cally for From the accoun's you will notice will shortly be presented to the Throne on the
available balance of $74,301,01, subject.
poiut portance, not bottled beer. we have an
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permanent ebarges and heavy interest have to b mat for the full twelve months, you will, I f«. l sure, tak» a less gloomy view of the figures we have placed before you. Before proceeding to the passing of the report and sccounts, I shall be ple sed to answer any questions that shareholders may wish to put to me,
There being no questions, the following re- solutions were put sad unanimously carried :—