August 3, 1908.]
HONGKONG CANTON AND MACAO STEAMBOAT COMPANY.
The report of the Board of Directors to the ordinary half-yearly meeting of shareholders to be held on Tuesday, the 11th August, is as follows:-
The Directors beg to submit to the sbare- holders the report and statement of accounts for the half-year ending 30th June last.
After paying running expenses, salaries, premia of insurance, repairs and all other charges there remains including $16 437.01 brought forward from last account, the sum of $153,905.84 at oredit of pr fit and los account. From this amount the Directors recommend that a dividend for the half-year of one dollar and twenty-five cents per share or $100,000 be paid to shareholders, $10 000 be written off book value of steamers, $3,600 be written off wharves and pro, erties, $12,500 be transferred to depreciation and insurance fund, $10,000 to special repairs fund, leaving a balance of $17,755.84 to be carried forward to new account.
Additional wharfage facilities being found necessary to cope with our Hongkong Macao trade, the Company has acquired the valuable site and wharf situated at the junction of Wing Lok Street and Des Voeux Road.
•
The small steamer Lung-shan" having been disposed of, the steamer "Hoi-Sang," a `vessel very suitable for the Canton-Maoso line, was purchased and is now working very satis factorily on the run.
19
The regrettable loss of the Company's jointly j owned steamer "Powan occurred on the 8th June. The insurance claims have been for- warded and will be settled in due course.
The anal overhaul and repairs have been effected during the half-year and the steamers are all in good running order.
11
Daring the balf-year the Heungsbau's' main deck has been sheathed with pine wood, a new rudder has been constructed for the "Kinshan" and a new galvanized iron roofed shed has been erected on the Wing Lok wharf. The cost of these items has been debited to the special repairs fand.
Messrs. A. Haupt, A. Fuchs, and E. Goetz resigned their seats on leaving the Colony and
CHINA OVERLAND TRADE REPORT.
Interest accrued Sundry debtors Bills receivable
Premia on insurance policies anexpired
To
**
:)
11
91
......
......
848 69 23,198 04 39,961.55
OPIUM.
11,500.37
HONGKONG, July 31st.
Quotations are:-
$2,374,065.51
Malwa New
.$910
per picul.
Malwa Old
$950
do.
Malwa Older
$980
do.
Malwa Very Old
.$1000 do.
1
Persian Fine Quality
$800
do.
$ 32,529.06 4,250.00
d.
Persian Extra Fine
$$70
do.
Patna New
Patna Old
P
.81077} per chest.
do.
Benares New
Benares Old
$1030 do. do.
PROFIT AND LOSS ACCOUNT.
30th June, 1908. Dr.
amount paid for repairs to steamers
directors and auditors, fees
Balance to be appropriated, viz. :-- dividend of $1.25 per share
on 8,00 shares
be written off book value of
steamers
$100,000.01
1
10,000.00
11
be written off book value of
properties and wharves
3,650,00
11
be carried to depreciation
and Insurance fund
12,500.00
be carried forward to special
repairs fund
10,000.00
be carried forward to new
account
17,755.84
153,905.81
$190,691.90
71
31
Cr.
By amount brought forward from last
C.
AMOY, 25th July.-The imports of opium from the 4th July to the 24th were:
Patna, 1 picul; Benares, 156; ersian, 15; Malwa, 2; Szechuan, 27; Yunnan, 21; Kiangsu, nil,
KEROSINE.
YOKOHAMA, 15th July,—Arrivals and deliveries for the first half of July show Standard Oil Co., arrivals nil; deliveries 39,000 cases. Rising Sun Petroleum Co., arrivals nil; deliveries 24,000 units.
account
•1
net earnings of steamers
interest on investments
transfer fees
16,437.01 119,167.53 32,534.22 70.50
11
difference between book values and
amounts recovered under Insurance
8.5.
11
1
11
policies and by sales respectively of
"Powan
and 8.8. Lungshan 22,485.64
$190,694.90
To balance
C.
575,000.00
DEPRECIATION AND INSURANCE FUND. Dr.
$
Cr. December 31, 1967.
Jane 30, 1908. By amount brought forward from profit and loss account for half year ending 31st December, 1907
By amount at crodit
C.
$ 350,000.00
25,000.00 $575,000.00
EQUALIZATION OF DIVIDEND FUND.
Messrs. G. Friesland, C. Brodersen and W. To balance
Helms, were nominated by the Directors to fill
Dr.
June 30, 1908.
Cr. December 31, 1907.
the vacancies subject to confirmation by the By amount at credit shareholders at this meeting.
In accordance with the Articles of Association Mesars, C. t hiel and C. H. Ross retire from the Board by rotation, but being eligible, offer themselves for re-election.
The retiring auditors, Messrs. A. O'D. Gourdin and W. H, Potts, offer themselves for re-election.
R. SHEWAN,
Hongkong, 22nd July, 1903.
Chairman.
COMMERCIAL.
IMPORTS. :-
RICE.
C.
$ 250,000,00
PIECE GOODS
M
Messrs. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade, dated Shanghai, 23rd July, 1908, states:-Trade Reports of the Yangtaze Ports 1907. Very interesting remarks are to be found in the Kiukiang, Wuhu, Nanking and Chinkiang reports concerning the changes that are going on at each of these Treaty Ports, progress being the main feature with all of them, the last named perhaps being excepted. Changes of route, in consequence of the introduc- tion of railways and steam boats on the inland water ways, are opening up fresh centres and, though in some instances are diverting the trade of one place to the benefit of another, the prospects all look very auspicious. In the Shanghai Beport it is noticeable that the only mention of Piece Goods is in the following sentences under the
Importa heading "Foreign Trade
The aggregate value of the foreign imports shows & heavy decrease, of over 32 million in taels, að compared with the record year 1906. Cotton piece goods alone account for 30 millions of this amount, while metals cover 2 millions of the balance." Intense heat has followed the web 250,000.0
spell and seems to have put most of the dealers 250,000.00 out of business, for the market is deadly dull. Nobody seems inclined to do anything uutil something more definite is known as to the ro- sults of the recent floods etc. It is thought in some quarters that but little damage will be done to the rice crop, but Cotton must have suffered considerably in the Yangtsze Valley. Rice is already nearly double its normal price, which taxes to its utmost the wage earning power of the people. The washing away of bridges on the reking-Hankow Railway line, near the latter Port, seems to have dislocated business there, and only shows what an important factor to trade the more modern form of transport has so rapidly become. We have been courteously informed by the Traffic Manager that the total quantity of Piece goods carried on the local Railway, from January to May inclusive, was only 7,703.27 piculs, which might roughly be taken as representing 90,0.0 pices 10 fb. cloth, but no other particulars are given, which makes it impossible to utilise the information in connection with our figures. It is satisfactory to see from the Minutes of a recent Meeting of the Committee of the Chamber of Commerce the subject of the issuing of notes by Native Banks is receiving the earnest attention of that body, as well as of the Foreign Banks and Consular Officials. It appears to be going on quite indiscriminately, without let or hindrance, and will soon become altogether out of hand. The question has already assumed very grave po:sibilities, if not probabilities. Trade with all our dependencies is very quiet at the moment, though there are not wanting signs that consider- able movement may take place in some of the Northern markets in the near future. There is a little going on all the time for Newchwang, and it is more particularly in that direction that developments may be expected, as yet, however, they have not assume any definite shape. The Corea market is still full of promise and shippers were
are anticipating that orders will 8000 be
fresh coming for
supplies. The Manchester market is not over strong, but still keeps a good five per cent above prices current here for most staple makes. Ordinary
HONGKONG, ist August
-Large quantities having been shipped by the Charitable institu- tions, the prices are further declining.
Quotations are:- Saigon, Ordinary
$5.00 to $5.05 Round, Good quality... 5.15 to 5.20 Long..
5.25
5.30 Siam, Field will cleaned, No. 2... 4.80 to 4.85
Garden,
No. 1... 5.20 to 5.95 White,
5,60 to 5.65 6.00 to 6.05
1908, June 30th.
LIABILITIES.
Amount at credit of depreciation and in-
aurance fund
Amount of capital, 80,000 shares of $15
each fully paid up....
$
1,200,000.00
575,000,00
c.
15
Amount at credit of equalization of di-
vidend fund
""
250,000.00
Amonnt at credit of investment fluctua-
""
tion account
*1,766.85
"}
Amount at credit of special repairs fand
Unclaimed dividenda
7,655.69 3,985.00
1
Fine Cargo
Sundry creditors
33,017.81
Hongkong Shanghai Banking Corpora-
SUGAR.
tion, Current Account..
39,446.61
Bills payable
Amount at credit of profit and loss
account
ASSETS.
"1
Value of steamer Honam, Heung-
"+
1
shan, Sui-An," & "Hoi Bang
11
C
to
29,287.71 YOKOHAMA, 15th July.-Price have been well maintained, with an upward tendeccy. Importation 153,905.81 of Refined is at a standstill, Raw being mostly
imported by mills direct, $2,374,065.51
Ith of "Kinshan" & 3rd of “* Bai. nam, Nanning, Lintan," & "Sanni "
نیا
of lighters" Suolee"" and Wolee
$
0.
1,088,223.48 8,000.00
-
KOBE July 16th, 1908. Beet.-Unchanged. Gane-Raw Java.-After a slight decline prices; have risen again to the Former level; only small Muscovados Basis parcels have changed hands. Polarization 96 % Colour average 12 is quoted at Y5.85 to Y5,95 per picul ex ship. Formosa. ---- of wharves, hulks and moorings 144,744.26 Prices have declined owing to supply surpassing of properties at Canton, Kongkun
demand. Os ka Refined. The Osaka Refinery held and Wuchow
130,446,77 | auctions on the 3rd and 13th instants. At the first
14,918.97 sale 4,900 Bags were offered, 4,600 Bgs
1,000.00 knocked down at prices shewing no change on the 577,470,00 previens auction. At the second auction, 3,800 Bags were sold at an advance of 5 Sen, while 000 Bags 331,000.00 were withdrawn,
of spare gear and stores
furniture
"
32
of share in public companies
of Chinese bands
31
Loans on mortgage
693.18
དོསྟན་*