410
COMPANY MEETING..
THE STEAM LAUNDRY COMPANY, LIMITED.
A General Meeting of Shareholders of the Company was held at the Hongkong Hotel on Saturday, the 30th October, 1909, at 12.30 p.m. There were present: Mr. W. Hutton Potts (Chairman), Honourable Mr. E. Osborne (Director), and Messrs. G. J. B. Sayer, Wong Kamfuk, A. Silva and Makfuk.
**
The CHAIRMAN said: The report and accounts having been in your hands for some time
we will, with your permission, take them us read. We regret that the * profit for the year is less than the two proceeding years, in a great measure due to the loss of $2,752 through our late Shroff, who after being with the Company since the start turned out a thief. But for this loss the result, considering the depression the Colony has been passing through, would not have been so unsatisfactory, though one would hardly think that bad times would cause a falling off in washing. The fact is that, people do not realise the importance of having their washing done under European supervision and in the best sanitary manner, otherwise I feel sure our Company would command more general support than it does at present. We can, however, congratulate ourselves that ours is the only Steam Laundry in the East which has survived the opposition of the native dhoby, supported as he is by the trusted house-boy, who never fails. to
See point out any damage, saying, what that Steam Laundry have do! the reason being that when he sends to his friend An Sin, a good many pieces are charged for which never go to the wash. And the fact that we are still in existence shows that at least some of the residents realise what they had to put up with before our Laundry started. If owners only saw the places occupied by native washermen and the water used by them, they would, I think, feel uncomfortable at the mere thought of receiving their clothing back into the house, let alone wearing it. Since our last meeting we have installed a dry cleaning plant and we hope and expect that this will help our profits in the future.
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Before moving the adoption of the report and accounts, I should be glad to answer any questions.
Mr. SAYER asked how it was the Shroff could embezzle so large a sum as $2,752. -
The CHAIRMAN replied that the amount was comprised principally in ships' large bills, which at times are unpaid for several months, and that the Shroff, by substituting one pay- ment for another, made it difficult for the fraud to be detected.
Mr. SATER thought that if the Manager had paid proper attention to the matter this loss might have been avoided.
Mr. SAYER further asked for information as to the agreement under the heading Accounts Receivable.
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The CHAIRMAN replied that this represents roughly a month's outstanding bills.
There being no further questions, the CHAIR- MAN then proposed the adoption of the Report
and Accounts.
Mr. SAYER seconded, and the motion was carried. Mr. SAYER proposed the re-election of the Hon. Mr. E. Osborne as director.
Mr. WONG KAMFUK seconded, and the motion was carried.
Mr. WONG KAMFUK proposed and Mr. MAKFUK seconded the re-election of Mr. A.O'D. Gourdin as auditor carried.
The CHAIRMAN thanked the shareholders for their attendance, and stated that dividend warrants could be had on application on Mon- day, November 1st.
The report and statement of accounts for the year ended 31st May, 1909, reads:-
[November 8, 1909.
THE HONGKONG WEEKLY PRESS AND
Directors.-The Hon. Mr. E. Osborne retires | MINISTERING CHILDREN'S: LEAGUE by rotation, and being eligible offers himself for re-election.
Auditor. The Accounts have been audited by Mr. A. O'D. Gourdin, who offers himself for re-election.
W. HUTTON Ports,
Chairman.
Hongkong, 20th October 1909.
The balance sheet on 31st May, 1909 :----
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LIABILITIES.
Capital: 20,000 shares at $5.00 $100,000.00 9,029.95 Sundry creditors
1,868.07. Accounts payable
9,973.52
Profit and loss
No. 1157
ASSETS.
$ 120,871.54
39,000.00 31,910.58
Land, Kowloon Inland Lot No. 1157 $27,200.50 Buildings on Kowloon Inland Lot Machinery, furniture and fixtures Dry cleaning installation Stock of coal and stores on hand Unexpired fire insurance Sundry debtors... Accounts receivable Hongkong and Shanghai Bank
balance
4,333.19
3,485.44
300.25
2,455.03 8,002.88
4,183.67
120.871.54
PROFIT AND LOSS ACCOUNT. -
(For the year ended 31st May, 1909.) To bad debts written off
$ 365.61 : 1,083.16 Repairs and renewals Insurance
750.50 1,050.00 9,973.52
Directors' and auditor's fees
Profit
By scrip fees and interest By balance from last year By balance of working
$ 13,222.79
236.46 43.33 12,943,00
$ 13,222.79
THE MANILA OPIUM CASE,
Judge Lobingier in giving judgment in the case of William Kennedy, a Chinese banker, charged with being concerned with Louis T. Grant in smuggling into the Philippines opium and cocaine to the value of about Ps. 100,000 said:
From the evidence produced in court we must therefore find:
(1) That the two defendants knowingly con- spired together to import, or bring into the Philippine Islands a large quantity of opium and cocaine contrary to law:
BAZAAR.
The bazaar and fancy fête held on Saturday afternoon at the Volunteer Parade Ground under the auspices of the Ministering Children's League proved a most interesting social event and at the same time a most profit.. able enterprise for the philanthropic objects in view. Stalls were ranged round the Parade Ground.
Needlework and fancy goods predominated. The beautiful specimens of work on exhibition were such as to delight the many lady visitors, and for that the young people who assisted in the undertaking are entitled to the greatest credit. The stallholders were as under:
Tea stall-Mrs. Lyon and Mrs. Gresson. Ice stall-Mrs. Seth.
Packing stall
Penruddocke.'
Mrs. Bell
and
Miss
Work stall-Mrs. Feck and Miss Bryer. Work stall-Mrs. Tucker and Miss Glover. Toys and enamelled work-Miss M. Loureiro. Fancy Goods stall - Misses Reich.
Work stall-Mrs. Eves and Mrs. Wait. Orange tree-Mrs. Lammert.
Cherry tree-Mrs. Grimble.
The weather was ideal, visitors were numer. ous and the business of buying and selling was conducted under very agreeable conditions. The aggregate realised must fave have been better than on previous years, as some of the stalls reached a total of over $200 in their draw- ings. Not the least interesting of the proceed. ings was the auction sale conducted by the Hon. Mr. May, who was called upon to help dispose of all the articles unsold, a work which he accomplished with satisfactory results,
At four o'clock a variety entertainment took place in the Drill Hall. The programme, which had been arranged by Miss Ella Rowe, included the "Tin Tan Tales" by Misses Iris and Dione May, a minuet dance by Miss Stella Jupp and Miss Angel Ormiston, a solo, "Teddy Dear," by Miss Ella Rowe, a dance by Miss Vere David, and a humorous contribution from Mr. Worces- ter. The later entertainment, "A Pair of Lunatics," by Mrs. Worthington and Captain Baird, attracted a good attendance and proved very amusing.
The net proceeds of the Bazaar amounted to $1,300-a sum exceeding that of last year by $300. This will be divided amongst the following charities for children :- Victoria Home and Orphanage,
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Kowloon Hildesheim Mission Blind School
Baxter Mission Schools Italian Convent French Convent Diocesan Girls' School Berlin Foundling House London Missionary Society Training
Home for Girls Hongkong Cot in the M. C. L. Home
at Ottershaw, Surrey
$360.00
360.00
100.00
100.00
65,00
50.00
50.00
50.00
165.00
$1,300.00
(2) That, pursuant to such conspiracy, said opium and cocaine were imported and brought into the Philippine Islands in violation of law:
(3) That the defendant Kennedy knowingly Mrs. May (President of the M. C. L.) wishes assisted in importing and bringing, and facili-specially to thank Mrs. Eves (M. C. L. Sec- tated the transportation of said opium and retary for Kowloon), Mrs. Gresson (Secretary for Victoria), and Miss Bryer (Secretary for the cocaine into the Philippine islands.
Peak), Mrs. Lyons, the Misses Loureiro, Mrs. Seth, the Misses Reich and the other ladies who gave efficient and ready help, as well as the firms and others who rendered generous and valuable assistance to the Bazaar.
The Prosecuting Attorney recommends a penalty of imprisonment for one year. Under all the circumstances we cannot say that this is excessive as to defendant Kennedy, nor that any lesser penalty would be adequate. The case is a particularly aggravated one and the plot, if successful, would have gone far to frustrate the law's beneficient purpose to eradicate the de- The crime structive and hideous opium habit. was committed deliberately and with long and careful preparation. No merely nominal punish ment would meet the case. The defendant Kennedy is therefore sentenced to imprison ment for one year, and to pay one-half of the costs of this prosecution.
The profit on working account after deduc- ting $2.752.19, shroff's defalcation, amounted to Defendant Grant's physician' reports to the $12,893.00, and the balance at credit of profit court that said defendant is confined to his bed and loss account to $9,973.52, which the directors with sickness and is unable to appear. Since recommend should be apportioned as follows: -- any further steps in his case (whatever dis- Dividend, @ 8 per cent. on $100,000... $8,000,00 position is made of his application to withdraw Write off machinery and plant.. 1,910,58 his plea of guilty and take evidence) will require Carry forward to new account
62.94 his presence in court, decison as to him will be reserved a reasonable time pending his re- $9,973.52 covery.
British merchants are reported in the Japanese Press to be entering in competition with the Mitsui Bussan Kaisha at Kwang- cheng-tze, Manchuria. The Shanghai firm of Messrs. Samuel Samuel & Co., says a Harbin xchange, are constructing large granaries and have sent out agents for the purchase of wheat.
A loan of Y2,000,000 raised last year by the Toyo Kisen Kaisha from Mr. Schiff and Messrs. Kuhn, Loeb, & Co., of America, guaranteed by the Specie Bank and the Dai-ichi Gihko, fell due last month, and was repaid. The sum of Y1,000,000 was drawn from the Dai-ichi Ginko, which had been deposited by the company, and the remaining Y1,000,000 was borrowed from the same bank at an interest of 64 per cent., to be repaid within one year.