Page
COMPANY REPORIS,
UNION INSURANCE SOCIETY OF CANTON, LIMITED.
The report of this Company is now published and reade as follows
The Board has now to lay before the shareholders a balance sheet containing a summary of the property and liabilities of the dociety on the 31st December 1917, and a statement of accounts to the same date.
1910 Account-After payment of the interim dividend of $30 per share and the bonus of 20 per cent. to contributors passed at the last annual meeting there remains a balance of 8874,294.25 as per annexed statement.
... $248,000,00
The Board recommends that this sum be appropriated as follows:- A final dividend to share- holdors of $20 per share on 12,400 shares. 'An addition to the Sterling. Reserve Fund of £10,000 at Exchange 1/10 5-16 To be carried forward to Underwriting Suspense Ac- count to close the account for the year 1910
107,503.03
518,731.22
$874,294.25
1911 Account. The balance of working account on the 31st December, 1011, was $2,044,500.27 as per annexed statement.
The Board recommends that an interim dividend of $30 per share be paid to shareholders, absorbing $372,000.00, and that a bonus of 20 por cent. be paid to Contributors, absorbing about $250,000.00, and that the remainder be carried for Ward.
DIRECTORS.
Sines the last general meeting Mr. E. Ormiston, Mr C. R. Lenzmann and Mr. G. Balloch have resigned their soats and Mr. W. L. Pattenden, of Messrs. Gilman & Co., and Mr. F. H. Armstrong, of Messrs. Reiss & Co., have joined the Board.
In accordance with clause 80 of the Articles of Association Mr. Fr. Lieb and Mr. G. Friesland retire, but offer them selves for re-election,
AUDITORS.
Messrs. W. Hutton Potts and A. R. Lowe retire, but ofter themselves for re. election.
H. A, Signs, Chairman. Hongkong, 8th April, 1912.
HALANCE SHEET, 315F DECEMBER, 1911. Dr.
To Capital 12,400 Shares of $260 each-83,100,000 upon which $100 per Share call-
ed and paid up
To Reserve:
Sterling $100,000--1,075,030.23
Bilver
To Reinsurance
$3,000,000.00
$1,240,000.00
4
THE HỒNG TONG DAILY PRESS, WEDNESDAY, APRIL 10TH, 1912.
Auditors Report.-We report that we have examined the accounts of the Society at the Head Office with the books and vonchers it: Hongkong, and returns received from the various Branches and Agencies for the year ending 31st Decem- her, 1911. We have also satisfied ourselves as to the existence and value of the Securities for Investments, the cash at Bankers and on Mortgage to the amounte specified. We have obtained all the. information and explanations we have required, and in our opinion the above balance sheet is properly drawn up so as to exhibit a true and correct view of the state of the Society's affairs according to the best of our information and the ex- planations given to us, and as shown by the books of the Society.
W. HUTTON Porr Auditors. A. R. LOWE, Cika ..... Hongkong, 8th April, 1012.
CHINA TRADERS' INSURANCE
COMPANY, LIMITED,"
WM.
POWELL, NEW
LTD.
“ELEPHONE 346.
Gentlemen's Outfitters.
ENGLISH and
AMERICAN
BOOTS and
and SHOES
The report of this Company is as BLACK, BROWN and WHITE.
follows:-
The Board bas now to lay before the
shareholders & balance sheet containing BEST MAKES. PERFECT FITTING. s summary of the property and liabilities of the Company on the 31st December, 1911, and a statement of accounts to the same date.
interim dividend of $4 per share and the 1910 Account.-After payment of the bonus of 20 per cent. to Contributors passed at the last annual meeting there remains a balance of 8428,754.62 as per annexed statement.
The Board recommends that this sum be appropriated as follows:
A final dividend to sbareholders. of $4 per share on 24,000 shares
An addition to the Sterling Re- serve Fund of £10,000 at ex- change 1/10 6-16
To be carried forward to Under writing Suspense Account to close the account for the year. 1910
$95,000.00
107,563.03
225,191.79
$428,754,62
1811 Account-The balance of Working Account on the 31st December, 1911, was 81,245,287.24 as per annexed statement. The Board recommende that an interim dividend of $4 per share be paid to share- holders, absorbing $36,000, and that a bonas of 20 per cent. be paid to con tributors, absorbing about 125,000, and that the remaindar be carried forward.
DIRECTORS.
Since the last General Meeting Messrs. E. Ormiston, C. R. Lenzmann and G. Balloch have resigned their seats on leaving the Colony, and Mr. W. L. Pat tenden, of Messrs. Gilman & Co., and Mr. F. H. Armstrong, of Messrs. Reiss 4,075,830.25 & Co., have joined the Board.
Fond£140,834. 0.11 1,011,880.28 Articles of Association Mr. Fr. Lieb and
To Underwriting Suspense
222,523.16
In accordance with Clause 70 of the
Mr. G. Friesland retire, but offer thera- 394,700.14 selves for re-election.
AUDITORS. Messrs. H. U. Jeffries and A. R. Lowe retire, but offer themselves for re-election.
H. A. Breus, Chairman. Hongkong, 8th April, 1012.
BALANCE SHEET, À1ST DECEMBER, 1911. Dr.
Account
To
£35,773. 0.2 Exchange Fluctuation
Account
To Investment Fluctuation
Account
-98,487.17
To Working Account 1910
Balance
874,284.25
To Working Account 1011
Balance
To Sundry Creditors)
Cr.
2,644,5k8,27 To Capital 21,000 Shares
081,801.88
$11,814,028.40
By Cash with Baikers on
Current and Deposit Ac
counts:
Silver Gold £120,499. 2.10 1,290,125.22 By Investincuts in Silver
Securities
By Investments in Gold
Securities.....£300,580, 3.8 3,232.930.70 By Sunday. Debtors includ- ing Branch and Agency Balances:
Silver
Gold
of
883.2 oncli$2,000,000 upon which $25 per Share called and paid up
To Reserve Fund:-
Silver.............. $800,000.00-
Storling...£15,000 101,344.54.
$600,000.00
961,344.54
Fund.£ 42,832.15. 6. 460,722.29
count 11,308.19. 2.
To Reinsurance
2 677,440.10
To Underwriting
Suspense Ac-
3,077,571.31
121,642.58
To Exchange
Fluctuation
Account
68,073.67
To Investment Fluctuation
Account
70,097.03
To Working Account 1910,
£82,838, 14.8
4503,704 1.0
300,705.86 Balance 888,887.21 To Working Account 1911,
Balance
To Sundry Creditors
428,764,82
.1,245,237,24 17,325.66
$3,973,847.86
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POWDER
By Mortgages in
Hongkong... $1,273,000.00
By Mortgages in
Shanghai......
1,030,100.34
By Office Leases
2,303,100.34 28,216.06
$11,814,028.40
WORKING ACCOUNT, 1910, ON 31ST DECEMBER,
1911.
To Nett Premium To Interest
By Agency Commissions....
By Head Office, Branches and
Charges
By Remuneration to Direc-
tors, Committees and Audi-
tors
$4,140,085.00 $18,015.95
Cr.
By Cash with Bankers on
Current and Deposit Ac
counts
Silver
Gold
$ 762,683.30 £197,804.11. 3 1,482,912,94 He Investments in Silver.
Securities
99,102.63
By Investments in Cold
Securities including Lone - don Leasehold Property-...
£28,672.0.0 308,404.70 $4,067,580.85 | By Sundry Debtors including
Branch and Agency 112,200.63 Balances ---
Silver Gold 468,472.16
By Losses and Claims paid...--2,570,972.57 By Mortgages in
MONTSERRAT
A simple kindly flavour, gently stimulating the healthy processes
of the body, is characteristic of Montserrat Lime Juice. Made only
from fine cultivated limes. It is the most natural: and perfect drink for constant use in hot weather.
Supplied in two forms:
Unswortened, Le., Pure Lime Juice. Sweetsaed, L, Lime Juice Cordial. Sold by all leading Storekeepers.
WORKING ACCOUNT, 1911, ON 31er DECEMBER, 1911.
By Agency Commissions
By Head Office, Branches and
Agency Charges
9,751.10. 7
£176,289. 1.10
22,292.10 104,890,38
To Nett Promium
30,522.20
To Interest.
By Bous of eo per cent. to
Contributors.......
Hongkong $3,172,227.56 By Mortgages in
Shanghai
$625,000.00
568,501,01
249,039.01
By Interim Dividend of $30
per Share......
372,000.00
1,193,561,91
$3,973,847.88
By Balance
A74,294.25
$4,607,580.85
To Nett Premium
WORKING ACCOUNT, 1910, ON 31ST DECEMBER, 1011,
$2,074,532.77 160,864:69
$2,235,397.46
WORKING ACCOUNT, 1911, ON 31ST DECAIRZ, To Interest
1911.
To Nett Premium To Interest
By Agency Commissions... By Head Office, Branches
and Agency Charges
By Remuneration to Direc
tors, Committees and Audi- tors -
$1,178,792.24
526,918.91
By Agency Commissions.....8 24,703,711.15 By Head Office, Branches and
Agency Charges 01,032,28 By Remuneration to Direc-
tors, Committees and Au ditors ......... By Losses and Claims paid....
469,236.03
27,437.90 By Losses and Claius paid... 1,470,448.13 2,644,550.27 By Balance
$4,705,711.15
Sterling Exchange taken at 18. 10/5-16d. H. A. SIEDS G. H. MEDHURST Directora. ---
C. MONTAGUE EDE, Secretary.
By Bonus of 20 per cent, paid.
to Contributors.....
By Interim Dividend of $4 per
Share By Balance
56,100.20
220,235.99
By Remuneration to Directors, Committees and Auditors By Losses and Claims paid. By Balance
2
12,039,398.08 186,469.63
$2,375,884.71
47,018.33
234,618.32
13,718.05
735,223.87
1,245,267.24
$2,275,864.71
Sterling Exchange taken at 1.105-18d
Directors.
H. "A. STEBs
HAU. JEFFRIES
C. MONTAGUE EDE, Secretary. Auditors' "Report-We report that we have examined the Accounts of the Com- pany at the Head Office with the. Books and Vouchers in Hongkong, and Returns received from the various Branches and 15,291.11 Agencies for the year ending 31st Decem- 1,285,485.83 ber, 1911. We have also satisfied our- selves as to the existence and value of 1,586,113.18 the Securities for Investments, the Cash at Bankers and on Mortgage to the 124,529,51 amounts specified. We have obtained all the information and explanations we have 98,000.00 required, and in our opinion the above 428,754,82 | Balance Sheet is properly drawn up so as to exhibit a true and correct view of the $9,235,397.46 state of the Company's affairs according to the best of our information, and the
utler Fulmer & Co
Merchany a
NAPIER JOHNSTONES'
1.
Q
: 391.2
explanations given to us, and as shown by the Books of the Company.
G. H. MEDHURST
A. R. LOWE, GLAS {Auditors.
Hongkong, 8th April, 1912.
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