October 11, 1909.]
COMPANY REPORT,
THE DAIRY FARM COMPANY,
LIMITED.
CHINA OVERLAND TRADE REPORT.
Buildings and property...$109,939.05
Less written off
Furniture, machinery and
Net premia received, less returns
4,039.05
and re-insurances
105,000.00
Interest
Transfer fees
stores
Less written off
..$ 18,325.62 6,325,62
Exchange
12,000.0
69,325.00
The report for presentation to shareholders Share investment and mortgages at the thirteenth ordinary yearly meeting, to be held on Tuesday, the 19th inst. is as follows :::-
Steam launch
Accounts receivable
The directors herewith present to the share-Stocks on hand holders a statement of the Company's accounts for the year ended 31st July, 1909.
The profit for the year, after writing off $18,510.11 for depreciation and bad and doubtful debts, and providing for directors' and auditor's fees, amounts to $61,850.01, from which it is proposed to pay a dividend of one dollar and twenty cents per share, absorbing $48,000; to transfer to reserve fund, $10,000; to fire and typhoon insurance fund, $2,000; and to carry forward, $1,850,01,
Capital. In accordance with the resolution passed on 17th November and confirmed on 1st December, 1908, the paid-up capital of the Company has been increased to $240,000, as set forth in the accounts.
Directors.-Messrs. F. Maitland and E. H. Hinds retire, but are eligible for re-election.
Auditor. The annexed accounts have been audited by Mr. W. Hutton Potts, who offers himself for re-election at this meeting.
EDWARD OSBORNE,
Chairman.
PROFIT AND LOSS ACCOUNT.
For the Year ended 31st July, 1909,
Dr.
To directors and auditor's fees... To repairs and renewals
To land cultivation and improvement To exchange
$2,700.00 7,918.57 2,148.17 259.28
To written off:- Bad and
doubtful
debts
$1,437.78
Cattle
... 5,807.66
Buildings
4,939.05
Furniture, machinery
and stores
6,325.62
To balance
18,510.11 61,850.01
$93,386,54
Cr:
By balance from last year
By sale of unallotted now shares.
By interest
By scrip fees
By bad debts recovered
By balance of working account
折
323
•
$1,481,114.34 212,877.44
62.00-
33,206.81
$1,727,260.59
3.000.00 | THE DAI NIPPON SUGAR REFINING
44,827.65 44,245.70
$358,398.35 M. MANUK, Acting Secretary.
Hongkong, 29th September, 1909.
CANTON INSURANCE OFFICE, LIMITED.
be
COMPANY,
A general meeting of this Company was to be held on the 15th ult. Not much expectation seems to have been entertained that a working programme could be at once evolved. The I have compared the above statement with Company's total liabilities are said to be the books, vouchers and securities of the Com- 17,122,190 yen. Its assets amount to 25,092,433 pany and have found the same in accordance † yen, but of course the great part of this latter therewith.
figure represents fixed property which could not readily W. HUTTON POTTS,
converted into cash. The net Auditor.
profits accruing from the industry can scarcely exceed 1,150,000 yen annually. It is proposed to issue preferential shares to the amount of 3,300,000 yen carrying 7 per cent, interest, and to hand these to the unsecured creditors in full pay- ment of their debts. But this plan is confronted. by a legal difficulty, namely, that such shares can not be issued until the total capital is paid up, whereas 3,600,000 yen remains to be paid and could not possibly be called up at present. It is difficult to see therefore how this plan could be carried out. It includes a project for spreading over a period of 10 years the customs duties owing to the Government, and paying them by annual installments of 122,000 yen. Further concessions would have to be obtained also from other creditors, and altogether the programme seems very difficult of realization, There is another plan upon the tapis, but it involves leaving the shareholders without any dividend whatever for 8 or 9 years.—Japan Muil.
The report for presentation to the shareholders at the twenty-eighth ordinary meeting, on Friday, the 22nd inst., is an follows:
The General Agents and Consulting Com mittee beg to submit to the shareholders the final accounts for the year 1908.
1908 Account. The amount standing to the credit of this account is $294,300.59, out of which it is proposed to carry $194,300.59 to the credit! of underwriting suspense account, which will then stand at $302,799.71, and to pay a dividond of $10.00 per share, absorbing $100,000.
Consulting Committee. Since the last meeting Mr. G. C. Moxon resigned his seat, and Mr. D. W. Craddock was invited to fill the vacancy.
In accordance with the terms of the articles of: association all the members retire, but, being eligible, offer themselves for re-election.
Auditors.-The Accounts have beon audited by Messrs. W. Hutton Potts and H. Percy Smith, F.C.A., who, being eligible, offer themselves for re-election.
JARDINE, MATHESON & CO.. Lp.,
General Agents.
"
LIABILITIES.
SHANGHAI DIVIDENDS.
At a meeting of the Board of Directors of the North China Insurance Co., Ltd., held on Tuesday, the 27th ult., a final dividend for the year 1908 of 7 per cent. on the paid-up capital at exchange 28. 3d, and a bonus of 15 per cent. to contributors, was recommended.
At a meeting of the Directors of the Kalum- STATEMENT OF ACCOUNT FOR THE YEAR 1908. pong Rubber Co., Ltd., held last week, it was decided to recommend the payment of a dividend subject to the audit of the accounts, of Tls. per share (16 per cent.) for the year ending August 31, 1909,
$48.39 126.00 Capital-10,000 shares of $250 each-$2,500,000, of which $50 per share has been paid up
2,934.66
61.00
26.99
Reserve fund
Re-insurance fund...
90,189.50
Underwriting suspense account
$93,386.54 Outstanding dividends
Accounts payable. Balance of working account, 1908
BALANCE SHEET, 31ST JULY, 1909.
Capital:-
LIABILITIES.
As per last ac- count, 25,000 shares at $7.50 each
share not call-
ed up
Transferred from reserve. fund as authorised by the special resolutions passed at the extraor dinary general meet- ings held on 17th November and 1st De- cember, 1908
ASSETS.
Cash, on current account with Hongkong and Shanghai Bank- ing Corporation... Fixed deposits, with banks in
Company, Ltd., debentures Shanghai Club debentures
..
$500,000.00 1,560,000.00
254,583.08 THE TRADE OF THE PHILIPPINES. 108,499.12
$3084,107.89
12,436.00 The annual report of the Insular Collector of 354,289.10 Customs shows that the increase of customs. 294,300.59 collections for 1909 over 1908 amounted to $220,000. The increase occurred during the last six months of the fiscal year, as during the first six months there was a decrease of $20,000 compared to the receipts for the same period of the previous year. The increase was mainly in exports, on which the duty amounted to $273,000 more than that collected in 1908.
57,423.64
225,000.00
All figures are in United States currency. The value of imported foreign merchandise 2,145,528.52. amounted to $27,794,482, exports to $31,044,451. The decrease of the former from last year 66,666.67 | amounted to $3,124,263, the latter to $1,785,358. 13,333.33 The total foreign trade amounted to $51,838,940, while the returns for the previous fiscal year 36,295.35 were $4,909,921 more.
$187,500
Less $1.50 per
Hongkong
37,500
150,000
Sortgages on property in Hong-
kong and Shanghai
Shanghai and Hongkong Wharf
Chinese Imperial Government
loan, 1886
United States bonds (4 per cent.
loan, 1925)...
-$240,000.00
Japanese Government gold loan Japanese Government deposit :- Consolidation bonds...$56,066.04 Imperial bonds
400,000.00 47,009.83
War bonds
23,993.15 12,791.36
361.50
10,000,00
Equalling value of 15,000 shares at $7.50 each less $1.50 per share not
called up.
Unclaimed dividends
90,(0)
Cattle reserve
Fire and typhoon insurance fund Accounts payable
+
Balance of profit and loss account
...
Cattle
Less written off
8,000.00
*92,850.55
$3,084.107.89
$1,203,148.82
The full pending the enactment of the new. Philippine tariff, the loss of opium rovenues, and bonding of great quantities of merchandise are held accountable for this temporary falling off of trade.
THE RICE CROP IN SIAM.
In places the growing crop in Siam looks as good as anyone could wish to see it; in other places it is a failure. On the whole the outlook is satisfactory. The failures referred to are, in part, to be attributed to want of seed grain to sow again in the place of that destroyed by foods. In Nakon Nayok district to the east, and in Monthon Ratburi to the west the water 89,824.09
has 139/987.09 gone down and more would bo welcomed; in 294 300.59 the watershed of the Monam Chao Phya there is plenty of water, and a possibility of cons $1,727,260.59 siderable more.—Bangkok Times,
38,183.84
61,850 01
WORKING ACCOUNT; 1908. Losses and claims paid
$ 358,398.35
ASSETS.
Charges, including directors', audi- tors' and survey fees, agents expenses, &c.
.$ 85,807.66 5,807.66
Balance as above
-$ 80,000.00
Commissions