May 24, 1909.]
COMPANY REPORTS.
PEAK TRAMWAYS COMPANY, LIMITED.
The report of the Directors for the year ending 30th April, 1909, for presentation to the shareholders on Saturday, the 29th inst. is as follows:-
to
Gentlemen, The directors now beg to submit you their report and statement of accounts for the year ending 30th April, 1909.
The net profit for the twelve months, after deducing directors' fees and general managers' re- muneration and providing for loss on subsidiary coins, amounts
to
CHINA OVERLAND TRADE REPORT.
Stations, crown leaseholds and buil- dings (Inland Lots 1317, 1333, 1334, 1335, 1353 and R.B. Lots 80 and 86) Rolling stock Office furniture
Coals and stores in hand Sundry debtors
439
ASSETS.
Permanent way and concession
(old line)
$200,000.00
Permanent way and concession
(new line)
45,626.29
35,256.29
36,983.10
Local and general liabil- ities in the East and
in America Local & general liabili-
ties in London
Mortgage on Section E. of Inland Lot No. 19. & the buildings thereon
$222,775.00
26,644.32
249,419.32
$48,000.00
653.6
Mortgage
on Marine
668.90
1,591.03
Cash in Hongkong and
Shanghai Bank
$71.274.61
Cash and compradores
orders in hand...
3,309.18
25,000.00
74,583.79 Advance against San
$35,716.05
$395.363.00
Jacinto Property Manila
30,829.93
228,829.93
162,064.40
13,546.78
19,950.00
7,471.65
To which has to be added the balance brought forward from last account...
Making available for appropriation $43,187.70
The directors recommend that a dividend at
the rate of 8 per cent. per annum be paid to shareholders, absorbing $24,000.00, that $1,983.10 be written off rolling stock, that $15,000.00 be placed to a reserve fund and that the balance of $2,204.60 be carried to a new profit and loss
account.
A. S. WATSON AND CO., LIMITED.
The report of the General Managers for the year ending 31st December, 1908 for presenta tion to the shareholders at the twenth-fourth annual ordinary General Meeting of the com. pany (since its registration) to be held on Satur- day, the 29th inst. is as follows:--
Gentlemen,We beg to lay before you a Directors.-Mr. H. Keswick having resigned,Statement of the Company's business with a Hon. Mr. W. J. Gresson was invited to occupy
Balance Sheet for the year ending the 31st the vacant seat on the Board. In accordance December, 1908. with Rule 73 of the Company's Articles, Hon. Sir Paul Chater, C.M.G., Hon. Mr. W. J. Gresson, Dr. J. W. Noble, Mr. G. C. Moxon and Mr. C. S. Gubbay retire, but being eligible offer themselves for re-election.
Auditors.-The accounts have been audited by Messrs. W. H. Potts and A. R. Lowe. Mr. Potts and Mr. Lowe offer themselves re-election.
Hongkong, 17th May, 1909.
JOHN A. JUrr. Chairman.
POFIT AND LOSS ACCOUNT.
For the year ending 30th April, 1909.
for
The Net profits of the Company for the twelve months under review, after paying all charges, includ. ing the salary of the General Managers, providing for all bad and doubtful debts, and allowing for loss on subsidiary coins. amount to
To which has to be added the balance brought forward from the previous year...
From this there has to be deducted :
Lot No. 2c, and the
buildings thereon 125,000.00 Mortgage on Kowloon
Inland Lot No. 1208
and the buildings thereon
Bills payable Hongkong, China
and Manila Unclaimed dividends
+
Security deposits from staff
Profit and Loss :— Forward from
1907
$6,438.19
Net balance
1908... 76,499.95
Less interim dividend of
3 cents per share paid
in Novem.
ber 1908 $27,000.00
Less amount
uncla i med
$82,938.14
"
at 31st De-
combor 1908 3,246.90
23,753,10
$76.499.96
59,185.04
$1,957.995.47
6,438,19
ASSETS.
$82.938.14
Total stocks in trade ..
8 1,004,911.88
Building im-
provements,
Dr.
General Mangers' com.
To coals and stores
$12.570.19
mission of 5 per cent.
To charges
3,350.33
on the net profits for
To maintenance and remirs
7,241.40
the
year as per Article
To rates, crown rent and fire in-
80 of the Company's
surance
1,215.35
Article of Association $3,824,99
To salaries and wages
23.416.41
Remuneration of the
To mortgage interest on R.B. Lot 80 To allowance to general managers to cover office rent aud clerks salaries
2,029.92
Consulting Committee
as per article...
2.500.00
6.000.00
To directors' fees
$2,500.00
To remuneration to general
managers,
per cent on
gross earnings
4,949.45
To balance
7,449.45 35,716 05
$98,989.10
Cr.
per cent, in November last abspr- bing We now propose to pay a further
dividend of 3 per cent. (making 6. per cent. for the year) which will absorb
Leaving available for appropriation $76,613,15 We paid an Interim dividend of 3
furniture, fit. tings and trade utensils at Hongkong Manila, Can. tou, Amoy, Shanghai, Hankow, Tientsin, and Native bran. ches:- As per last
account Amount written off for depreci-
ation in
162,541.30
May 1908 9,496.11
6,324.99
$27,000.00
27,000,00
By traffic receipts (after deducting
loss on subsidiary coins)
By advertisement rents
By rent account...
By transfer fees.
$96.388.13
272 50: 340.00
8.00 To carry for forward to 1909 account 1.980.47
To write off building improvements.
furniture. fittings, utensils trade, ærated water plant, and machinery
$153,045.19
of
Added during
1908
2,195.94 .:$
20,000,00 2,613.15
-155,251.13
$76,613,15
By interest
$98,989.10
BALANCE SHEET AT 30TH APEIL 1909.
Capital
each
LIABILITIES.
account :
75,000 shares of $10
Less uncalled, $9 per share on 50,00 share
Reserve fund
Mortgage R.B. Lot
No. 80
Consulting Committee:-The existing Con. sulting Committee consists of Hon. Sir C. P. Chater C.M.G., Hon. Mr. E. Osborne, and Messrs. H. P. White and J. Scott-Harston. Auditors: The Company's accounts at the Head Office have been audited by Mr. Francis Maitland, and Mr. W. Hutton Potts, who offer themselves for re-election.
JOHN D. HUMPHREYS & SON, General Managers. Hongkong, 19th May. 1909.
BALANCE SHEET, 31ST DECEMBER, 1908.
Aerated water and other ma- chinery and plant at Hongkong, Manila, Can- ton,
A moy, Shanghai and Hankow:--- As per last
account...134,609.49
Amount written off
for depreci-
ation in
May 1908 10,100.83
$750,000.00
450,000.00
-$300,000.00 5,000.00
29,000.00
4,340.73
13,834.57
Capital account
Added during
1908..
$124,508.66
4.630.52
do. From last year $ 7,471.65 do, For the year 35,716.05
Reserve fund to meet
-129,139.18
contingencies or for
43,187.70
the equalization of
dividends
25,000.0 !
-1,225,000.0)
$395.363.00
Steam launches, cargo boat, and water boat
|
$5,200.03
4
Unexpired
season
tickets
Sundry creditors...
Profit and loss account.
LIABILITIES,
$900,000.00
Permanent reserve fund 300,000.0)