March 15, 1909.]
COMPANY REPORTS.
GEO. FENWICK AND COMPANY, LIMITED.
The report of this Company is as follows:- The Directors have now to submit to the shareholders the Accounts for the year ending 31st December, 1908.
The Directors regret that for the first time in the history of the Company, the accounts show a debit balance to be carried forward to the The amount of this balance is new year. $7,421.92. This unfortunate result has been brought about mainly by the heavy legal ex- penses incurred in contesting unsuccessfully a claim made against your Company by a sub- contractor.
DIRECTORS:
CHINA OVERLAND TRADE REPORT.
CHINA SUGAR REFINING CO.
The report of this Company is as follows:- The General Agents beg to submit to shareholders their report on the Company's business for the year 1908, with a statement of accounts to 31st of December last.
There was a good demand for the Refinery's Sugars throughout the year, at prices which gave a fair margin of profit. working was $273,518.10, and the sum at debit The gain on on 1st January, 1908, was reduced to $5,858.21, which is carried forward to next account.
The General Agents and Consulting Com- mittee recommend that a dividend of $5 per share, absorbing $100,000 be paid out of equalization of dividend fund.
Consulting Committee:-This consists of Hon. Sir Paul Chater, C.M.G., and Messrs. E. Mr. Percy Tester was invited to join the Shellim, F. Maitland, H. P. White and J. W. Board of Directors during the year.
He now
C. Bonnar who offer themselves for re-election. retires in accordance with the Articles of Asso- Auditors:-
:-The accounts have been audited ciation, but offers himself for re-election.
by Messrs. W. H. Potts and H. Percy Smith, F.C.A., who offer themselves for re-election.
AUDITOR:
The Accounts have been audited by Mr. H. Percy Smith, who offers himself for re-election.
A. RODGER,
Chairman.
Hongkong, 27th February, 1909.
BALANCE SHEET, 31st DECEMBER, 1908.
JARDINE, MATHESON & CO., LTD.,
General Agents,
Hongkong, 9th March, 1909.
Colony, and Mr. J. W. C. Bonnar was invited to join the Committee in his place. Mr. H. P.. White and Mr. J. W. C. Bonnar offer themselves for re-election.
Anditor:-The accounts have been audited by Mr. A. R. Lowe, C.A., who offers himself
for re-election.
JARDINE, MATHESON & CO, LTD., General Agents. Hongkong, 9th March, 1909.
BALANCE SHEET, 31st DECEMBER, 1908,
LIABILITIES.
Capital, 7,000 shares, of $1000 each $700,000.00 Jardine, Matheson & Co., Ltd.'s
current account Account payable Hongkong and Shanghai Bank
(advance a/c)...
ASSETS.
Property account, 88 .per last
account
BALANCE SHEET ONE YEAR-to 31st Dec Raw and refined sugar, &c.
CAPITAL AND LIABILITIES.
Coal, charcoal, stores, &c. Accounts receivable...
204,031.68
1,671 03
20,000.00
$925,702.71
$629,642, 43
Hongkong and Shanghai Banking
Corporation
2,395.48
Cash in hand
1,023.16
104,532.66
38,998.06
13,217,49
$2,000,000.00
450,000.00 56,000.00
$789,809.28
522,350.65
ber, 1907
$135,132.55
$3,029,199.26
Loss for year ending
31st December, 1908
760.88
135,893.43
L
$925,702.71
Profit and loss account,- Loss to 31st Decem-
1908.
LIABILITIES.
Capital:-
Paid-up capital
18,000 shares of $25 each, $450,000 10,800 shares issued and fully
paid
$270,000.00
Equalization of dividend fund Repairs and renewals account Sundry creditors
Reserve fund
42,986.73
t
Hongkong and Shanghai Bank-
ing Corporation loan account (secured by mortgages) .. Amount received in advance on
account of contract in hand Sundry creditors ...
137,473.09
ASSETS.
Je
2,500.00 12,703.06
Property account consisting of--
East Point Refinery, Bowrighton Refinery, Swatow Refinery, Hong- kong Distillery
$1,531,209.03
$465,662.88
Cash...
ASSETS.
Raw and refined sugar, &c.
Value of land and bui dings at
Spirits and rum, &c.
7,042.00
PROFIT AND LOSS ACCOUNT,
5,338,52 To interest
For the year ending 31st December, 1908.
1.102,847.50 To auditor's fee...
$13,186.39
50.00
Value of machinery,
Wanchai and North Point as per last report
Charcoal coal, stores, &c.
To loss in exchange
243.91
$300,750.86
Sundry debtors
136,229.52 98,132.75
$13,480.30
Shipments
$297,546.42
plant, launches and
Less advances
155,004.70
office furniture as per
By gain on working
$12,719.42
142,541.70
last report...
$57,627.53
Balance of profit and loss account
By balance loss as per balance sheet
760.88
Additions during the
year
2.097.05
5,858.25
$3,029,199.26
$13.480.30
$59,724.05
PROPERTY ACCOUNT.
Sold during
the year & 30.00
To Balance on 31st December,
1907
$1,531,209 03
Written off
for depre-
ciation
1,694.58
By Balance on 31st December,
1908
$1,724.58
58,000.00
Value of stock in trade as per
valuer's certificate
75,950.73
Value of work in progress as per
valur's certificate
*Cash on hand
Hongkong and Shanghai Banking
Corporation...
Mercantile Bank of India Limited Investments
Sundry debtors
Profit and loss account
$1,531,209.03
THE DAI NIPPON SUGAR REFINING COMPANY.
Japanese papers report that success in the negotiations for a compromise in the liabilities of Dai Nippon Sugar Refining Company is hopeless, and the Mitsu Bishi Banks, which undertook the relief of the company, have at length declined to advance the Y3,000,000 re- $279,371,34quired and have withdrawn their assistance.
25,290,62
PROFIT AND LOSS ACCOUNT.
To Balance brought forward from
last year To Commission
6,094.58 To Remuneration to Consulting
242.36 Committee
To Auditors' Fees
10,465.93 To Interest
328.53
750.00
5,657.97
7,421.92 By Gain on Working By Balance $465,662.88
PROFIT AND LOSS ACCOUNT.
Dr.
To salaries
To crown rent and taxes...
To depreciation on plant account
$11,470.00 1,264:20 1,694.58
To legal expenses and
amount of judgement $16,673.65 To amount of bad debts
written off
Cr.
1,938.21
By balance of last year's account
By balance of working account By transfer fees...
By bonus from Insurance Company By dividend on investments
By interest...
By balance
18,611.86
$ 33,040.64-
$3,726.91 21,743.14
3.00 1.36
2,500.00 750.00 33,462.95
BANK DIVIDENDS.
THE YOKOHAMA SPECIE BANK, LTD. We are, officially informed that at the half $341,374,91 yearly meeting of shareholders of this Bank held at the Head Office, Yokohama, on the 10th $335,516.67 inst., it was resolved to pay a dividend of 12 per
5,858.24
cent P.a. for the half year ending the 31st December 1908; to add to the Reserve Fund $341,374,91 Yen 400,000, and to carry forward the sum of Yen 1,140,0 to the next account.
LUZON SUGAR REFINING CO.
The report of this Company is as follows:- The General Agents beg to submit to share: holders their report on the Company's business; with a statement of accounts to 31st of Decem- ber last.
Owing to the restricted demand for the Com- pany's Sugars during the year the Refinery could only be worked on a reduced melt, and frequent stoppages were found necessary.
The gain on working was $12,719.42, and after converting the assets into Hongkong 45.00 currency at par, allowing for interest and auditor's fee the sum at debit is 8135,893.43 99.31 7,421.92 which is carried forward to next account,
Consulting Committee Mr. A. G. Wood $ 33,040.64 resigned his seat upon his departure from the
THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA.
Telegraphic information was received from the Head Office of the Chartered Bank yester- day that at the approaching meeting of share- holders, the Directors will recommend a dividend for the past half year at 15 per cent. per annum, free of Income Tax, that £25,000 be writen off Bank premises account, that £50,000 be placed to reserve, (which will then stand at £1,575,000) that £134,00 be carried forward as undivided profit and that a bonus of 10 per cent be paid to the staff of the Bank.
The Directors of the Shanghai Gas Co. Ld., have decided to recommend the payment of a final dividend for 1908, of Tls. 3.00 per share being at the rate of six per cent on the paid up capital, making thirteen per cent for the
year.
A