|
THE HONGKONG TELEGRAPH, THURSDAY, MARCH 27, 1902.
Capt. Tillett—Apparently the shareholders | very pleasant thing to hear that the General did not have any knowledge that you had that | Manager is dissatisfied, money,
The Chairman. Then why did Mr. Gaskell not put it in ?".
Capt. Tillett-Did you ask Mr. Gaskoli to attend to-day?
The Chairman-Yes, I did specially,
Company?
The Chairman-No, they are not,
the 31st December of each year. Through a clorical error your duditors, omitted to deduct the cost of aerated water Plant and machinery already standing at debit of this account there- by causing "a double entry under this head. The increase in charges, account is due to several causes. For instance, our shop rent has advanced from $100 10 $285 per month, quarters for Chinese employees from $35 to
Mr. Grant Smith-Mr. Chairman, with regard 578 per month, increase of office work neces to these shares that you say Watkins, Limited sitates the employment of a European assist-have a lien og, are they in possession of the `ant, advertising, loss on subsiduary coins, ex- change &c. Your stock contains nothing except what is absolutely of the first, quality. It has been taken by Mr. McLoughien, who is a quali- fied chemist and quite, competent to do the work. Your genoral managers have verified every item and found same correct. At to day's, low.exchange it would cost you about 20% more money to replace your present stock, Aerated water factory amplyy justifies the out lay in this department of our business, and our waters become better known, fall apprecia tion of their high class quality, and increase sales, will be sure to follow. With regard to the san standing in my name, and referred to by the auditor, I wish to state that this was due
to, and taken over from the old Firm, and has not been incu ted during the existence of this company. Shareholder may safely leave this in the lands of your Genetal Managers to
| ·Mr. Grant Smith--Where are they 7 of the Court at the present moment with my The Chairman-They are in the possession'
partner, who has a case on.
Mr. Grant Smith-Then as it stands at pre- sent, that is not a security at all for the Company. The Chairman-Yes, the Company can get all the dividends for the year, but not the transfers.
Mr. Grant Smith--But if the shares are not in your possession is there a lien on these shares as well?
The Chairman-According to the Articles of Association there is a lien. on the shares. The Company will have the dividend and that. will be quite sufficent in liquidate the amount,
The Chairman. The amount is included in the report, and is about $4,000 roughly.
Mr. Grant Smith.-Last year you told us see it liquidated in due course. We propose, that you did not include in the statement of with your consent, to tra sfer from the equa accounts any profits made by the Company as lization of Dividend Fund to the credit of the result of the sale of mores, etc., shipped up profit and loss account, the sum of $8 741.97 to Tientsin. Will you tell us whether these which will then stand at $10,129.47 and thus profits are included in the report now before enable us to pay dividend for the year of gus, and say what is the actual amount made per cent. The balance at credit of the Equa- from the shipments? lization of Dividend Fund will, after the pro posed transfer then stund at $4,802 57 which amount is to be carried forward. Unless any shareholder has any question to ask, I will now proceed to propose the adoption of the Report and statement of account; as presented. This is all the business before the meeting, and I thank you gentlemen for your attendance.first balance sheet? Dividend Warrants will be ready on Tuesday next, the 3rd April prox.
Captain Tillett :-F' bave a question to ask, Mr. Chairman. I understand you to say that this, sum of $3,665:14, that you are indebted to the Company, was incurred before the new Com- pany was formed.
Mr. Caskell having now entered the meeting, the Chairman was asked to request him to make a statement with reference to the loan.
The Chapman--Mr. Gaskell, will you ex- plain why you did not include that loan in the
Capt. Tillett (addressing Mr. Gaskell.)-The question I asked was this I have asked the Chairman about this sum that he owes the Company, and he says it is n debt going back seven or eight years. since the Company took it over. It was known to you, and I said the shareholders did not know, any.. The Chairman-Yes, sir.
thing about it, but he said that that was a Capt. Tillott-And why was it not stated so question that you could answer, and I asked him if he had asked you to be present to-day, and he said that he had Perhaps you can give us some information. -
Mr. Gaskell As far as the taking över of the Company weni, of course'no bad debts were taken over. They never are in any Company. The Chairman (interposing). But this is not
at the time f
The Chairman-It has been stated by us every time that the accounts have been put before you.
Capt. Tillett-But why was it not stated before the new Company was formed?
The Chairman-You had better ask Mr. Gaskell that question himself.
Capt, Tillett-It would have have better if it had appeared on the last balance sheet.
The Chairman-Certainly. Capt. Tiller-Why did not you put it there The Chairman-Why should I put one there more than anything else?
Capt. Tillett-These, are only matters of bandfulls of dollars or cents; but this is a large sùm,
1
The Chairman-Quite so. That was taken over by the new Company and the debt has been incurred for seven or eight or nine years running.
Capt. Tillett-Is there any possibility of it ever being paid off; it is pretty nearly time it
was now,
The Chairm n--Well, if you leave it to the General Managers it will be done,
Capt. T llett-Are you aware, Mr. Chairman, that the General Managers are responsible to the
shareholders for the funds of the company,
The Chairman-Yes, certainly, Capt. Tillet-I am very glad to hear it. The Chairman-Yes, and the General Man- agers also. They have a lieu on the shares standing in our name.
Capt. Tillett-Well, it is time that debt was paid off between you and Mr. Chan A Fuk,
The Chairman-We will attend to it. Capt. Tillett-But I did not mean attended to in seven or eight years, but within the cur.
rent year..
The Chairman-Well, you may look te it that the debt will be liquidated.
The Tilleit-And within the current year? The Chairman-No, certainly. You do not expect that I can put down $3,600 within twelve months at the paltry salary I am paid, $300 a month; very soon my senior assistant will be getting as much as I am, and I do not think that is a reasonable salary considering my 20 years experience in the East, We will liquidate the debt if you give us time.
Capt. Tillett-Mr. A Fuk is equally respon-
Rible.
The Chairman-Yes.
a bad debt by any means
Mr. Gaskell If the money was owing them at the time it should have been paid off. The reason why it has not appeared especially in the accounts is that it appeared in the accounts receivable, sundry debis, which have been amalgamated with the general debts owing to the Company, and have been recorded as good by Mr. Chan A. Fuk. He told me he thought it was good, that was last year but this year I have though it advisable to mention it in my report.
The Chairman And it is good; you may take it from me.
Capt. Tillett-It cannot be very good when is standing our without bearing any interest.
Captain Tillett-You are not quite in order What is before the meating is the report and
balance sheet..
Mr. Munford-Bat he made a remark Captain, Tillett-Yes, but that is foreign to the matter before the meeting.
The Chairman-1 beg to propose the adop- tion of the report and statement of accounts now before the meeting. Will any gentleman
·Becond 7"
Mr. Ezekiel-1 beg to second. The motion was carried.
The Chairman-That is all the business, gentlemen. I thank you for your attendance. Dividend warrants will be ready on Thursday next. 3rd April, on application at the office. Warrants will not be sent out to any one.
Mr. Osborne-Mr. Mumford made remark in reference to your salary, Mr. Chairman.
Captain Tillett-The reports have now bean passed, and Mr. Osborne is not in order as the meeting is finished.
The Chairman-M. Osborne is quite in order, in making any remarks he pleases.
Captain Tillett-Rut the business is finished, The Chairman-He has as much right as you or anybody else to make what remarks he likes. Mr. Gaskell. I think Mr. Osborne is in order is expressing his views, but nothing can
he done
Mr. Osborne-1 do not want to carry the thing any further, but I suppose we can have an opportunity of discussing the matter.
|
|
Auction,
PUBLIC AUCTION.
Tom M. WHEZLEY to Sell by HE Undersigned have received instructions
PUBLIC AUCTION,
on
TUESDAY and WEDNESDAY, the 1st and and April respectively, at 1 P.M. Sharp on each day, within the Residence, "GREENCROFT," Robinson Road, Kowloon,
THE WHOLE OF THE VALUABLE HOUSEHOLD
FURNITURE
THEREIN CONTAINED,
Comprising
SILK. TAPESTRY DRAWING-ROOM
Intimations.
INCANDESCENT GAS LIGHT.
The attention at consumers is drawn to the fact that the Undersigned, being Sole Agents for DR AUER VON WELSBACH
Co.,
VIENNA,
THE INVENTORS OF INCANDESCENT GAS LIGHT.
ARE SELLING THE ONLY GENUINE MANTLES, The Price of which has been reduced to FIFTY CENTS per piece."
BEWARE OF INFERIOR IMITATIONS!
KRUSE & Co.,
FURNITURE, BLACKWOOD CABINETS STOOLS, and FLOWER STANDS. RUGS, PAINTINGSÍ CARPETS and ENGRAVINGS, MOROCCO - COVERED DINING ROOM SUITE, TEAKWOOD EXTENSION DINING TABLE, CHIP. PINDALE CHAIRS, DINNER WAGGON,
GLASSWARE, 9540] SET OF VALUABLE CUTLERY, Shanghai Make DOUBLE WARDROBES.
DRESSING TABLE, WASHSTAND with BEVELLED GLASS, OVERMANTELS, BOOKCASES,
KEW KIANG FLOWER STANDS, HATSTAND with GLASS, BRONZE FIGURES, SAT- SUMA VASES and BOWLS, PLACQUES, CORNICES, CHERRY LACQUERED TEA-TRAYS,
SCREENS, 2 PLUSH COVERED CHAIRS, CARVED WOOD FIGURES, LADY'S ROCKING CHAIR, TEAKWOOD SIDEBOARD with BEVEL LED GLASS, ́· MARBLE-TOP WASH. STANDS, PANTRY and KICHEN RE- QUISTES as usual;
AND
I BAROMETER by R. H. 'Cogswell, Halk fax, TELESCOPE by G. Falconer & Co Hongkong, SWIFT BICYCLE, 2 RICK SHAS, and 1 COTTAGE PIANO by Schred- mayer and Seebne, Stuttgart
ALSO:
The Chairman.-I will see that a meeting is called. There are increased management ex penses which will mean Szon or $250 a month. Major Brown rose to speak, but was fore. stalled by
A. Large Assortment of PALMS and other The Chairman, who said-The meeting is PLANTS with POTS and STANDS.
TERMSA. Usual. absolutely Anished.
On view on Sunday and Monday, 30th and
HUGHES & HOUGH,
Hongkong, 22nd March, 1902.
By this time most of the shareholders had 3rst instant left the meeting.
Major Brown.-There is one point I want to bring forward, and that is the price of some articles sold here. It seems to me that some business is lost through excessive charges.
The Chairman--And yet you are grumbling at the small dividends.
Major Brown-Exactly 'so. À man told me that he was asked $30 for a pound of there Major Brown mentiimed a drug which sounded like phenocol) and some time afterwards it was got for $12 al. Watson's.
The Chairman-I asked him why he did not go to Watsons. That was Colonel-
Major Brown-Oh, never mind who it was. It was got subsequently at the Pharmacy for $15. That costs. at home, according to the Druggists Price List, 2z/- a pound, yet So is asked for it at this shop by you, and you are an employee of the shareholders. I think that shows a little bit of business ability in losing business..
The Chairman-And if I had to buy it I could not get it for $30.
Major Brown-But it was "gos subsequently, The Chairman-Yes, but could not buy it. I have à pound for my own stock; and if you think I am going to dispose of my whole stock well that would not be business. A paund would last me for 20 years.
Major Brown-But there has been a demand for it lately.
The Chairman-As a, matter of fact you
don't know what you are talking about. A
I think it is time Mr. Fuk and yourself liqui-pound of this drug would last me for 20 years, dated this debt between you.
The Chairman The way to do is to leave it in the hands of the General Managers and they will liquidate it.
Captain Tillett-1 am not prepared to take such a general statement as that. The money is standing out without bearing interest, and that is not good enough. I will be glad if somebody will second the proposal I make, that this debt should be liquidated within the current year.
Mr. Mumford-I beg to second.
ן
Mr. Osborne-1 see there is something like $1,700 of bad and doubtful debts; can you give us,any information on that point?
The Chairman-The majority of that is really belonging to the shipping community. We shall have very grent trouble and difficulty in collecting it, though it is not absolutely bad. As opportunity offers we will recover some- thing of it.
Mr. Grant Smith-beg to propose that the Company is credited with the interest due by you.
A
Major Brown-I beg to second. Capt. Tillett-I think we have quite a sufficiency of motions now before the meeting. Let us proceed to the vote.
The Chairman- beg to put the first re- solution to the meeting, that the debt be liqui
Capt. Tillett Well let him come forward dated within the current year, and help to liquidate the debt.
The Chaimmunut wo are not pushed for the money.
Capt. Tillett-But the Company would be in a far better positioni
The Chairman-But as a matter of fact that money should have been wiped out by the old Company,
Capt. Tillett--What interest does the money pay 7
The Chairman-None.
Capt. Tillet-Do you consider that right? The Chairman-I do. 1 consider the Com- pany is having more than that
hat out of me.. Capt. Tillett. That is not the point your character and value are not mentioned in the matter. It is a matter of money that is owing by you to the Company. You say there is all this money awing by you to the Company, and we want it to be paid off in the current year and it is beating noʻinterest NSE
Intere
Five voted for the motion, and the-Chair- man declared it carried.
The Chairman What Interest,do you suggest Mr. Smith?
Mr. Grant Smith-1 should say the interest should be at the current rate of interest on the debt.
Major Brown-Bank rate.
Mr. Grant Smith-I should say 7 per cent The Chairman-The Bank rate is 6 percent. Captain Tillett-Be contented with that, Mr. Grant Smith-Allright; that will do. The motion was carried.
The Chairman-There is one other thing to which I have to refer. I have received a telegram from our Shanghai Manager informing us of the total desträction by fire of our branch at Shanghai. The loss, I may mention, is amply covered by insurance. If there are no more questions. I would move the adoption of the report.
Mr. Mumford With regard to the remarks. do not think is right you made just now, it seems to me that you are any should charge am emplyedikatisfied with the salary you are in receipt that was Fofej think that is a matter that should be especially for
nsidered by the shareholders. It is not a
and that is sufficient for my wants. I do not keep it for the convenience of you or anyone person. If you are not satisfied, you or any of the shareholders have the remedy in your own hands and know what to do,
Major Brown--I may just say here that you are another for a considerable quantity has been sold in this Colony of late.
IN
Auctioneers.
Intimations.
BANK HOLIDAYS,
[353d
N accordance with the Provisions of Odin. ance No. 6 of 1871, the Undermentioned
BANKS will be CLOSED for the Transaction of Public Business, on GOOD FRIDAY and EASTER MONDAY, the 28th and 31st instant, respectively.
For the CHARTERED BANK OF INDIA,
'AUSTRALIA AND CHINA,
T. H. WHITEHEAD,.
Manager, Hongkong. For the HONGKONG & SHANGHAI BANKING
T. JACKSON,
Chief Manager. For the NATIONAL BANK OF CHINA,
LIMITED,
GEO, W. F. PLAYFAIR, Chief Manager.
CORPORATION,
For the MERCANTILE BANK OF INDIA
'LIMITED,
JOHN THURBURN,
Manager, Hongkong. For the BANQUE DE L'INDO-CHINE,
Hongkong Agency,
L. BERINDOAQUE, Acting Manager. For the YOKOHAMA SPECIE DANK, LIMITED,
TARO HODSUMI,
Manager..
For the IMPERIAL BANK OF CHINA,
E. W. RUTTER, Manager,
For the DEUTSCH-ASIATISCHE BANK,
H. SCHOTTLAENDER, Acting Manager.
For the Russo-CHINESE BANK,
...
J. W. R. TAYLOR,
'Manager.
For the GUARANTY TRUST Co. of NEW
YORK,
N. G. EVANS,
Acting Manager. Hongkong, 27th March, 1902.
INSURANCE HOLIDAYS.
CONNAUGHT HOUSE,
GAMES OF ALL KINDS."
W. BREWER
Co.,
BOOKSELLERS, STATIONERS, PRINTERS, ACCOUNT BOOK MANUFACTURERS,
Ad
23 & 25, QUEEN'S ROAD.
LADIES' AND GENTLEMEN'S BOOTS
AND SHOES..
EGYPTAIN CIGARETTES. INDIAN CIGARS.
BOX'S EXCHANGE TABLE-New Volume, 1/8 to 1/10/16 $10. Hongkong, 20th March, 1902.
Hongkon.,..
Fot.
[34d
NEW PATENT SODA-WATER-MACHINE. Especially suitable and a real, necessity for Hotels, Hospitals, Barracks, Officer's Messes and
Private Messes, Families in Up
country places, Mission Stations,
and for Passenger Steamers.
The most simple and efficient machine yet invented for the manufacture of all kinds of Aerated Waters, Lemonade, Fruit Lomonade, Champagne Cydor, &c., &o, &c.
The machine is worked by hand, can be attended to by any ordinary native servant and manufactures Aorated Waters of best quality at enormously cheap prices.
LEOPOLD SPATZ & CO.
(7330
NEW YORK LIFE INSURANCE CO." The Oldest and Largest International Life Insurance Company i
the World..
SUPERVISED BY 8:. GOVERNMENTS,
Written Business 1901 exceeds $380,000,000 Gold. Actual Paid for Business 1gor exceeds $260,000,000 Gold. A note or a Telephone Message from those wishing an up-to-date" policy will receive immediate attention.
Hongkong, 4th February, rona.
HECTOR W. SAMPSON, Special Representative, Hongkong Hotel.
(13740
HIRANO WATER
A natural clear, sparkling and effervescent Mineral Water, bottled in its NATURAL CABRONIC ACID GAs of the Hirano Spring of Hiogo Ken, Japan. It mixes excellently with WINE OF SPIRITS, and is PERMANENT IN QUALITY,
776c]
[36cal
OFFICES will be CLOSED for the Tran- saction of Public Business, TO-MORROW,the a8th instant, (GOOD FRIDAY), and on MON- DAY, the 31st idem, EASTER MONDAY). JARDINE, MATHESON & CO.,
General Agents,
The Chairman-Yes, for two or three months,THE Undermentioned INSURANCE because of the presence of disease. I am speak ing of what I know, I trust, I know my own business. I am a chemist and you are not. I suppose if I came and told you how to run your hospital I would be ordered outside very quickly. I won't be told by you how to con duct the business,
Major Brown (as he retired from the room) I am just telling you you are. losing business,
'The meeting then broke up.
CANTON INSURANCE OFFICE, LD,
and General Managers,
HONGKONG FIRE INSURANCE CO.,
LIMITED.
For the UNION INSURANCE SOCIETY OF
CANTON, LIMITED,
W. J. SAUNDERS, Secretary.
SWATOW WEEKLY SHIPPING REPORT, | For the NORTH-CHINA INSURANCE Co, LD.,
Date
{March 22nd, 1902.)
ARRIVALS.
VeLUBIN.
Mar. 14 Daijin Maru.....
'Taiwan....
3.
14
17 Glen Jalloch.
ij Yashun ........
Hairnun...
anchow 'Changchow meng
18Keongwal
18.bampo
10.Itaitan.....
19 Sigan.........
Where from. tongkong Chalao... Ainoy
Shanghai...... Hongkang *** Shanghai vis Amoy
Bangkok Shanghai
Amoy.....
19:30 .......... Hongkong wa
20 Maidraru Maru
Agenti
. & Co.
LY. & Co.
C. M, & Co. M. & Co.
B. & S.
門
་་་
B. & Co.
J. M. & Co. B. & Co.
zotaigi Maru ..... ušlĄmay, kumain anones,
Hatching Hongkong. J. M. & Co.
ar Anping Maru Amoy, someź
an Wingoong na: Hongkong men
at Chaloo... Chafoa.............................
Hanging Shanghai Thales ....... Keelung ............** radialmun ......... Tengkeng.
21 Fakshan vened
Date.
Vessels.
Mar. 16 Tamaui .......................
+
."
17 Hajnow
17 Daljin Maru
DEPARTURES.
JE, & Co.
J. M. & Co. B. & ..
J. M. & Co.
;
iB. & Co.
Destination. ·Agents. Amoy & Shanghai ...¡B. & S. Shanghai
B. &'co..
17 Taishan...... Singapore .......................... 17:Maimun
Hongkong
J. M. & Co. 18Takaang Shanghai ......
16 Keongwa..........Hongkong D. &'s. 18 Changchow m
18 Glenfalloch Singapore & Peaang. L. & Co. 19:Hangchow........................ Shanghai ....................... B. & S. Taitan...... Amoy & Foochow ...J. M. & Co. 10 Vashun... Shanghai. M. & Co. 20 Baig! Maru..... Hongkong... & Co. 20Maizuru Maru...."Amoy & Änplag.................
obampos...Hongkong & Canton D. E'S. 20. Sagon........ 11. M. & Co.
Siahan.....
13. & Co. U. M. & Co. {D. & Co.
6.
alching Hongkong lapping Marutanghali, & Co. Wing og r Taiwan.......Asoy & Shanghai....
SHIPPING IN PORT.
M. & Co.
Dale.' Maros Chefsa
Vessels.
+
Where from. beloo allangsing Shangbal
Thales... Keelung
Agents.
IN. & Ca.
sa Haimu............. Hongkong
**
27 Pakshaniza
B. & Co.
M. & Co,
M. & Co.
DENTS DRIVING SILK MUFFLERS
OTTAM & CO. PLAID RUGS, and CMERICAN SHIRTS, BOOTS and
SHOES!
W. H, PERCIVAL, Agent.
For the CHINA TRADERS' INSURANCE CO.,
LIMITED,
W. H. RAY,
Secretary,
For the YANGTSze INSURANCE ASSOCIATION,
LIMITED,
SHEWAN, TOMES & CO.,
Agents. For the CHINA FIRE INSURance Co., LD.,
GED. L. TOMLIN, Secretary. Hongkong, 27th March, 1903.
[360d
ROYAL ARTILLERY SPORTS,
will take place on THURSDAY, the 3rd April,
at the
HAPPY VALLEY.
NTRIES are invited for the following.
EVENTS:-
TUG-OF-WAR, Open to the Royal Navy, by Ships, to Units of the European Garrison, and to the Europen Police. TUG-OF-WAR, Open to Units of the Native
Garrison, and to the Indian Police. HALF MILE FLAT RACE, Open to Royal Navy, European Garrison, and European. Police.
TUG OF WAR TEAMS to number ten each;
the 'PUNJABI REST' will not be allowed. ALL ENTRIES must reach Capt. CLAPHAM, R, A. MESS, BOWEN ROAD, befor SATURDAY, the 20th instant Hongkong, 26th March, roz
WANTED.
f360d
A YOUTH to act as JUNIOR REPORTER,
one with a knowledge of Shorthand preferred.
Apply by Letter to
"JOURNALIST
C/o This Office. Hongkong, 8th March, 19′′a,
[apód
ANALYSIS PROVES ITS PURITY, PATENT CORKING.
Telegraphic Address: Marinework, HONGKO
E. C.
SIEMSSEN & CO.,
Solo Agents, Hongkong and South China.
Code Wind: Arand ABC, 4th Edition.
C. WILKS
& Co.,
MARINE ENGINEERS, SHIP CONTRACTORS
AND SURVEVORS.
Collisions and Damages Surveyed for Insurance Companies, Ships' ¿esigns and
Specification Prepare
Office: 9¿Queen's Road Central.
Fiongkong, 8th November, 1901.
[1214C
PETER SYS' WONDERFUL SPECIFIC. THE OUESTY Down as an INFALLIBLE and PERMANENT CURE for
SPRUE, DYSENTRY, DIARRHEA, HEMORRHAGE and ULCERATION
of the BOWELS.
Recommended by some of the Chief Specialists of the Medical Profession Sold retail by all Chemists and Wholesale by
12th October, 1898.
THE PETER SYS COMPANY,
(Pruprietors and Sole Manufacturer
9, Old China Street, Shanghai.
WING CHEONG.
DEALERS IN JEWELLERY, PEARLS, DIAMONDS, JADESTONEWARE CURIOS SILKS, CARVED IVORYWARE, AND GRASSCLOTHS.
AND
GENERAL EXPORTERS.
No. 86, Queen's Road Central,
Next Door Messrs. LANE, CRAWFORD & Co.
Hongkong, 20th November, 1901.
UNTOUCHED BY HAND.
(azbe
MELLIN'S
For INFANTS
FOOD
and INVALIDS-
When prepared is similar to Breast Milk,
-MELLIN'S YOOD WORKS; PECKHAM LONDON,- ENGLAND,
pr
: