3
HONGKONG LANDS.
ANNUAL SHAREHOLDERS' MEETING
NECKLERS IN EVIDENCE,
1st lost.
The ordinary annual meeting of shareholders in the Hongkong Land Investment and Agency Co.. Ld.. was held at the Company's offices at noon to-day. The Hon. Mr. C. W. Dickson presided. The others present were Sir Paul Chater, Mesin, H. P. White, A. Haupt, E. Shellim, (directors), A. Shelton Hooper (secra tary), 11on, Mr. Gershḥm Stewart, Messrs. |. R. Michiel, He Fook, G. Murray Bain, H. Percy Smith, Hor, Mr. H. E Pullock, KC., Messi, Á, Aptar, E. Gouty, S. Hancock, T. F. Hough, O. W. May and W. H. Wickham. „ ·
ing
поте
The Chairman oid:-Gentlemen, I propose with your permission to dispense with the formality of reading the report and accounts which have now been in your hands for several days. The awere in 1909 no acquisitions of new properties, the aueation of the Board being devotes to the further development of these already held and towards this sum a coniider- Able sum has been expendel, a you will observe Gom thei
incrusted aniount appearing as invested from
The bingks krown as Royal in.
pinperty. Buildings, King's Buillings, and York Huild- have been completed during the year,
the Arat-named yielding revenue from September, and the other two from, October, but in these fast there are still a few vacancies to be filled. When this is done and alterations to ong ntiser European building, completed, our rent rall should be increased by about $45,000 yearly. It is a matter of regret to your directors that nat wilstanding every endeavour it has not been possible to
Tet many
of your Chinese properties, such vacancies repre- senting about $75,000 annual rental, and in connection will this regrettable experience 1 can only repeat the statement made to you from this chair at the last annual meeting that It' is difficult to
to reconcile such a sate of affairs
overcrowding with the complaint of central districts. Towards development ex- penditure nancy invested on mortgage has been called in to the extent of 5213,500, reducing -the revenue foin that source, and our indebted. news has likewise been increased for the same, purpose entailing the payment of furtheria- ieres. The sum of $100,16-appearing at credit, represents the profit anasale of property still to be completed and an increase in the book value of the Company's holding in sharee of the Hongkong Land Reclamation Co., Lid, which, I may incidentally mention, have been recently dealt in at over jo per cent, above what they now stand at in
your b
books.
light Increase in charges is more than counter balanced by a reduction in the sum expended on repairs, while the extra anuunt, pail away for fire insurance is explained by the chances raluc of properties. Finally, gentlemen, your directors are sanguine of
being able, even though no sales of properly be effecied, to show in future year results which, will udnut of the payment of at least an equal ivided to that they propose for 1905 viz, 2 per cent There are no other points which occur me to refer to be any questions you may desire to put bearing upon the statements now before the meeting, I shall be glad to answer to the best of my ability,
|
THE HONGKONG TELEGRAPH, SATURDAY FEBRUARY 3 1906.
The Chairman-1 bave already explained | appointment. He protested against officers that in my speech: "
and managing director of the company Mr. Pollock-I should like a definite subing other fand companies. It was an wtanciulanowor, now..
injustice to the land Investment Company! He would now move and he intended to put his protest on ricord.
The Chairman will read you my speech (He then read the portion relating to mis matter)
Mr. Fullock How much, have you written upt
יי,
The Chairman :-I think you will be in order after I have proposed the adoption of the port and it has been seconded.
Mr. Gershon Stewart All right, air? bre The Chairman - have already answered
The Chairman have ascertained that the that question. shires are $75 and they have been written up. Orange as agent for the Reclamation have told you that your property in question was bought an account of
Cuinpany.
to Froo
Mr. Pollock-I don't understand what you mean by "profits on sale of properties" to be completed.
The Chairman:-The properties have been sold, but we have not actually got the money in. It is quite a usual thing to assess one's "assets, for which there is a ready market, and that is what has been done in this case, the fact being that the property has been written up to the price at which it has been sold.
ME Pollock:-There are gentlemen in this room who know the principles of book-keeping. The next question I have to submit is with repart in the item of $25,339.20 for managing directmal fees. How that made up?
Mr. Michael want to ask a question about the writing up of the 2,000 Shares of the Hongkong Reclamation Company. Yes have writion then up from $75 to $too—is that so
The Chairman That it so. Mr. Michael-How did you arrive at figure? You remarked in your speech that they had gone up so per cent,
the shares might have been written 'up to a higher Ögure quite agree with you. But the directors decided that $too was a sale and reasonable figure to put them at
Mr. Michael: And you charged your com-
The Chairman: That ir natural Mr. Michael? What propattion in profit and value have we got from our unproductiva estate, out of the $6,000,000 7
The Chairman: Do you with the actual or
Agures? ls. The approximate figures will
The Chairman-lt is made up in accordinisjon on them. ance with the Articles of Association, with which, I presume, the shareholders are conver sant. In accordance with Article 95. I ddn't think I need read it,
Mr. Pollock Yes, rend it,
The Chairman read the Article in question. Mr. Pollock-llava 'you takes it si a aj pes cent, basis or a 5 per cent. basis?
a
The Chairman:-3 per cent. basis.
Mr. Pollock I understand you consider it net profit on which the managing directors aire entitled to this percentage, although the money is not actually in hand.
The Chairman My idea of net profits is'as
by the statement.
animer, to my
. Mr. Pollock-That is no
+
30.
?
THE WEST POINT, BUILDING COMPANY, LIMITED.
ANNUAL MEETING. ·
tet insty West Point Building Company, Limited, was The seventeenth annual meeting of the beldia the offices of the company to-day, Sir the Hoa Mr. C. W. Dickson, Messrs, A. G. Paul Chater presiding. There were present
C. W. May, H. Percy Smith, J. M. Graça and Wood, F. E. Ellis, J. R. Michael, 1. Orange, F Maitland
The Chairman, in moving the adoption of the report and accounts, said Gentlemen,Į purpose with your permission to take the report and accounts as read. The net profits for the $49,709.67 as against past year Amount to
Thi $40.434.57 for the previous year. jä- create is brought about by the property having been leased from 1st April at an increased rental of 57,000 per month. On the other
review of
$3.65
Л
LEGISLATIVE, COUNCILMS
SPECIAL MEETING,
DEATH OF H.M. THE KING OF DENMARK, [Officially Communicated.]
gie wit.
held at 2.30 p.m. to-day, all the members being A mesting of the Legislative Council was present with the exception of Mr. Shewas.
Mr. H., Pollock, K.C, took the statory oath, and assumed his seat stthe Council board, His. Excellency the Governor said :—Gratie- men-it has been my sad duty to summon. you here to day to invite you to pass a solu tion on the occasion of the death of His Majes ty the King of Denmark, Christian IX, born the year before our late Queen of beloved memary, was the oldest of reigning sovereigns. For forty-three years he ruled over the Danes, The Chairman t-If you mean to infer that hand you will observe that the cost of repairs / Britain connected with the people of Great by ancient strains of bluod, and more has increased from $1,197.50 10 55.212.34. of the United Kingdom and of Demmark, closely by the bonds that unite the Royal fami- This expenditure has been necesitated by the it is appropriate that from Hongkong, as from requirements of the 'Sanitary Board and the general doing up of the property on the change other Colonies, where Queen Alexandra itheid of tenancy. We are thus enabled to parsions of sympathy at the death of Her Ma- in auch affectionate esteem, should come expres- dividend for the year under as against $3.20 for the previous year, and injesty's father, and I submit for signification of the absence of any abnormal, expenditure Your acceptance the following resolution; which we have no reason to anticipate
That the Legislative Council; of Hongkong retums for the current year with the increased
desire to humbly express the sorrow with which the intelligence of the death of the rental under the new lease should enable us Rill better dividend in the future.
Queen's father, has been received and their deep sympathy with Their Majesties the King and Queen in their bereavement. Dr. Ho Kai taid:Sir-With profound res pectand sympathy Irisetosecond the - resolution which Your Excellency has just so feelingly to this Council. We have been so proposed to long accustomed to regard the persons of Their Most Gracious Majesties the King and Queen with affection and esteem that, whatever affects them in the smallest degree is sure to call forth a corresponding feeling on our part. On the present occasion. Their Majesties' recent sad bereavement is felt 'by' all British subjects, throughout the Colony with a keen senic of sorrow and sympathy. And the resolution be fore us is but a humble expression of that sentiment of regret and sympathy, ber, therefore, to second the resolution.
The resolution was passed unanimously, The Council adjourned sine die.
The Chaingan: Halfalakh Mr. Michael: What percentage? The Chairman: You can figure it out for yourselt.
Mr. Michael: Less than a half per cent. The Chairman: I think we had better get on with the meeting.
Mr. Michael: I have a suggestion to make. The Chairman: I will be pleased to hear it:
question, llave the managing directors charged after the action is on the whole $100,526?
The Chairman-Yes.
Mr. Pallock-You have not only included this account, but you have also included in your net profits $37,874.70 as balance brought forward from inst account. Surely that is not nel profit,
The Chairman You are perfecity correct. Commission is not charged on that.
Mr. Pollack --I don't see how this $29,139.20 can possibly be arrived at on the basis of at
per cent,
י
THE HON, JR. O. STEWART.
"Put
to
moving the adoption of the report and accounts a presented, I shall be pleased to answer any questions shareholders may wish
to put.
Mr. Maitland seconded the adoption of the report and accounta
་
Carried unanimously.
C. W. Dickson be appointed n, director in Mr. Percy Smith moved that the Hon. Mr.
of Mr. W. J. Gresso.
roam
M Michael seconded and the motion was adopted.
Mr. Graça moved, and Mr. Ellis seconded, thar Sir Paul Chater and Mr. A. G. Wood be re-elected directors.
Agreed.
On the motion of Mr. Percy Smith, seconded by Mr. Orange, Mr. C. W. May was re-elected auditur,
The Chairman-Dividend warrants will be ready to-morrow. Thank you for your attend-
ance.
STRAITS CURRENCY. ·
No further remarks were forthcoming, and The Chairman said he had listened to the remarks of his friend Mr. Stewart, and he thought it might be useful if he indicated how the Reclamation Company came to be formed. That company was formed in April, 1907, almost four years ago. The directors of this company having then in view the then contem plated Praya East Reclamation, which they would all recall-in which the Land Invest ment Company, by reason of its ownership of The Chairman :-Figure it out,
marine lots is that district would have had a Mr. Polinck Yes, it would be about that. considerable Interest-and the necessity that This
system of the payment of managing would be unproductive for many years,
would arise for
a large capital outlay which
The following editorial comments are from directors is very detrimental to the ordinary
the idea body of shareholders of this company.. If you was conceived of forming a new and distinct the Singapore Free Press of 18th jan. -
So general has been the intereti aroused by refer in the figures of the two previous years company which would undertake that work, and
the recent warning of His Excellency to cur you will see that the shareholders received $azhus avoid a lock-up of the capital of the linen, instead of Sy. Mr. Pollock also actor submitted to the full board, who in the then Land Investment Company. The project was
rency speculators, at the meeting of Council ed that the fees paid to the managing directors
on Friday last, that following our remarks of were less in former years.
position of the Company, having regard cipe. yesterday, which represented the position of cially to the extensive programme to which
affair in some degree from the point of view they were already committed; deemed
of the #- *pra
e exporters, we think it would be well to The Hon. Mr. Gershom Stewart said he felt dent to place some limit on such prospective point out another aspect of the situation. The obliged to speak on this occasion, and he was outlay, and decided to take an interest of export of the Colony may be practically sum- induced to do so for two. reasons. The first $100,000 in the new (ompany. These shares, ned up in tin. When the colle, sends his was that last year in the management of certain or shares to that value, were applied for and. property belonging in this company the police,allouled, and were still held. In that way it
savings to China the balance of advantage lies with him, lor if for instance he gels one he understood, had tried their utmost to remedy was considered that shareholders' inletests
hached dollars here, he obtains from the the existing state of affairs but their powers were very appreciably protected. He was very
banks for that sum perhaps one hundred and were not sufficient. There had also been strong sony to gather from the remarks that had ten arane hundred and fifteen dollars on Hong Mr. Pollock rise, to move some ques-pruten in the press with the result that special been made that the shareholders themselves kong, according to the ruling rules between tions, which, think, should be of interest to legislation had to be passed. He trusted that held a different opinion.
here and Hongkong. But leaving the question the general body of shareholders. ́ ́ Is it the in future nobody would ever be able to
to point Mr. Pollack I think fom your statement
af tin and coolies aside, the statement of His lace that the Hongkong Land Investment Co, the finger of scorn at this company as the pro-just made you gave an incorrect answer, un Excellency appean either to go too far or not WAT one of the original shareholders in the prietors of buildings used for disorderly atentionally, to my ques inn-Has this com
far Enough. That we
we gre told the dollar will Hongkong Land Reclamation Co,
houses. He' most earnestly trusted that the pay caposed of may property or rights of re-
be fixed as low as possible, but we are not told The Chairman-It is a fact.
disordaily scenes which formerly took place clamation Your saswer would refer to Marlue what the fixing point will be or at what price at these houses would not have again to be Lot number 49, but from what I can gather
af silver it would be desirable to fix. referred to
at the meetings of the company now, we have disposed of all our rights to the His second reason was that he had received Land Reclamation Company. from abareholders at Home letters in which they asked questions why the dividend had been reduced from it to $7. They had tably looked upon the Hongkong Land Invest- meni Company as a steady. the reduction had proved a great concern and a great inconvenience at the present moment. He had been quite at a loss how to reply to the people at Home giv ing reasons, satisfactory reasons, for a fall of the Conny was in a nearly to per cent in their dividend.
sinking condition. it could he understood. The rateable value of The Chairman-I don't know that I can Hongkong had greatly increased. When the newer that question. This it a meeting of the late Mr. Granville Sharp died his property was Land Investment Company.
valued by reliable and competent Mr. Pollack, argued that as the directors million dollars; on a later date.at ait, I cannot help it.
to
Mr Pollock. The next question is--lf 10, what extent?
The Chairman-The Land Investment Company from its very origit has held 1,000 shares
in the Land Reclamation Company. Mr. Pollock-Is it the fact that the property which has been reclaimed by the Hongkong Land Reclamation Cos at Trim,sha-tsui was
kanckad down to the paid Secretary of the Co., Mr. Augustus Shelion Hooper, at publie auc tion? If so, by whom was he employed to purchase that property?
Mr. Chairman I
The answer is-No Mr. Pollock asked to whom it was knocked down.
thought it was advisable to invest to the exten!'
of 2,000 shares, the original shareholders should know to whom that property was knocked down, The Chairman The decision was arrived al by the full Board.
Mr. Pollack-But I want to know to whom The property was knocked down.
The Chairman haven't, the information al band
Mr. Pollock-Mr. Northcote is secretary of the Hongkong Land Reclamation Company, the not ? And he is also asistant secretary of this company?
The Chairmantic is employed by this company, but not as assistam secretary.
Mr, Pollock-Was he never assistant secret-
ary
-
The Chairmail:-He was acting secretary, Mr. Pollack:-You told us that those shares have appreciated too or 200 per cent,
The Chairman: I mentioned in my remarks that recent transactions in the shares had taken place at over jo per cent of their value.
Mr. Pollock-What is the increase in the value of our property after making allowance for the cast of the reclamation?.
Chairman-The value of the Company's The bares?
Mr. Pollocks-Yes. The Chairman:-The face value of the shares If $75. They are now standing in the books
at $100. Recent transactions-have taken place
At 50 per cent, above that.
Mr. Pollock-Are the managing directors of the company also managing directors of the Hongkong Land Reclamation Co.!
The Chairman: It is a wall known fact that
ibby are,
Mr. Pollock-I only want to know the fact.
posed of any property or rights of reclamation ip the Hongkong Land Reclamation Company?,
The Chairman-No. It is not true Mr. Pollock: That is to ay that the pro pesty
The Chairman-One lot has been sold by the Land Investment Compaaj
Mr.Pollock: What fot is that?
The Chairman; Kowloon Marine Lot num.
for 49.
|_ Mr. Pollock-And when did that safe take
The Chalamein 1902.
place?
The Chairman :-That is not so. He added that the Praya East reclamation was afterwards abandoned. pro-
I
A
40 per
Is it to be fixed when silver is al so pence or at 34 pence or at what singe? Incidentally there arises the further question whether the Governor has the power to fix at all,_without
ference in the Secretary of State But
pre. Mr. Pollock-Have we sold or contemplet.suming the rate will be fixed locally, it is interesting to nate once more that the scheme ad selling our rights on the Praya East? The Chairman 1 say distinctly, No.
is recommended by Sir David Barbour, who Sir Paul Chater:-Never dreamt of,
was concerned with the solution of the Indian Mr. Pollock-What was this company form.
Currency question, at the time the rupee was ed for?
fixed, silver was about 30 to 40 per cent below The Chairman cannot tell,
the gold value of the ordinary rupee, that value Mr. Pollock am a shareholder wanting being at the time somewhere about 10 to 15 information which I am entitled to have. pence. Are we to go on the same principle
The Chairman I have given you all the in
berel Government should not forget that we' formation possible. If you are unable to grasp have had silver at 22 pence per ounce and have seen it rise about 40 per cent in value. it appeared Sir Paul Chater said with reference to the Could any one say that it may not rize another that his estats had increased in value to the ex- East Point Reclamation this company by virtue
cent? No one could go far who pays tent of one or two million doliars. It was now of its holding a large number of marine any silention to the course of prices, because same time ago since the Taim-sha-taut palcinis was committed, because the reclamation
it was not such a very long time ago that silver took place. He had a fairly good recollections had beempassed and was ly dependent upon sold at 50 to 60 pence per ounce. Again silver that Mr. Shelton Hooper a Landed the public' auction. There was a certain amourt of comical dispute between the military and nayy. is pre-eminently a speculative article and it is The Land Company was committed to the re-imposible for Government to take a particular petition and Mr. Shelton Hooper acquired clamation if it came off. That would have the property there.
as a guide. should decide I had seemed
of the what meant a large amount of money, and no divi.
the benefit o in fir
the Colony at large, and reasonable thing for the Land Company dend would have been earned, and this not look at the question simply from the iner. to acquire a subutariţial site, provided new reclamation at Tim-sha-isui would chants' paint of view.
t-was intended to give always that the Government was willing to pay would radiate all over China. Share
not have been carried out. The dividends
an artificial valuetothe dollar and the contraction with it, where, as anybody could sco had been 12 per cent., but at present the divid. ofthe dollar helpedkingoup. Thebes: course to railway,
end was only 7 par cent, because the proper
be adopted would een for
have been
Government to holders naturally asked why the Land Comies were not developed. They were now deve
have come forward with the statement Up to pany did not take an interest in that matter, rping and they would go on paying returns.
this figure and no more, we are not going to and why the work was not undertaken by this
After further discussion,
fix above this figure." But to allow people to company. For a company of this magnitude The Chairman moved the adoption of the go on buying and telling and then came for to borrow money to pay for this work would
ward and warn them they are taking part in a report and accounts. have been a small matter. It seemed to him it
ihaza dove operation, doce not appear The most would have been a graceful act and sound
reasonable course to adopt. If the fixity point policy if an infant company had been inau-
were placed at 3,8 it would be a good to surated with 20,000 shares at Sto each to be
because Exity at 2/3 or 3/4 it so fixing a given out pro rada to the shareholders of this
simply taking chances on the course of ex company fhear,
ear, hear) Such consideration
change. Sufficient`margin must be allowed to remove the dollar beyond any reasonable like lihood of being affected by rise of a penny or Mr. Gershom Stewart moved :-"That the twopence, because if there is not sufficient shareholders of this company desire to ne margin there will be great trouble in a Colony cord their opinion that in future any favourable like ours, where there is no Customs House to tival company. He had hoped they opportunities for reclamation, or other dealings supervise the movement of bar silver or colu. would never have had any, because much tested that if the interests of that little required, ought to be offered in the first find whether they are generally agreeable or
very in property, in respect of which fresh capital in
The above views are those of a section of the Icommunity distinct from the exporters, and Jacob of Tuim-Sha-Trul were pitted against Hance by the managing directors to the share ibe Essu, of
of the
would have been much valued by the share holders and would have tended to increase mutual confidence between managers and managed-fhear, hear) He noted with some regret that they had had some dealings with
it
borns in mind that anyone purchasing shares
Mr. Murray Bain seconded.
The motion was unanimously adopted, Mr. Michael suggested that the property of the Land Investment Company should be valued every second or third year and put on record.
The Chairman-The suggestion will have the consideration of the board.
the
not Ret the best of the bargain,ompany would holders of this company; and that no property represent may be welcomed as of thoughtful
company ought to be sold to representation of certain aspects of the ques
Reclamation
Co,"
tion. Mr. Pollock seconded. Sr. Michael disagreed with the amending SERIOUS PLAGUE RUMOURS,
in this company was in the position of a man who bought property, with a flaw in the
A title. Shareholders had invested is the commsolution, because the Hongkong Reclamation
which
INFECTED BOMBAY COTTON, The Oraka Asahi notes that the outbreak of plague in Osaka and Kobe has seriously affect ed the foreign trade of both ports, and business circles are thereby placed in an awkward position. A proposal has been made by the Government authorities—who consider that the disease is imported from Bombayto send a commission to the Indian port to investigate the manner in which the disease is brought
HONGKONG CHINESE V.M.C.A.
PROPOSED CLUBHOUSE FOR HONGKONG STUDENTS.
31st uit,
The annual meeting of the Chinese branch of the Y.M.CA. in Hongkong was held Inst night in the rooms of the branch. Mr. F. C, Mow Fung, the Chairman of the Department, presided, and there were 20 members present. The report was read by Mr. C. H. Lee, record: ing secretary. The acting Leneral secretary Mr. C. C. Rulledge, was present and reported on the progress of the general work of the Association. Among other things he stated that friends in England, Scotland and America have given the Hongkong Association $30,000, to be used in erecting a dormitory and club house near Queen's Collège for the use of the students of that and other schools, under the direction of the Association, provided an equal amount is contributed by the people of Hong- kong for the purpose of buying a stie and furnishing far the building.
It was reported also that too Chinese em- playees of the Kowloon Dock have petitioned the Association to form a branch at Hunghom, The annual report showed that the total amount of f
fees
received from full paying mem- bars at St. per month for 13 months, was $1.776.30 136 members; the total amount of fees received from student-members at 52 cts. per month for 13 months w$136.50-21 mem- bars. The average membership per month was 157. Full entrance fees received at 23 per member amounted to $179.00; student fees at $1-$35.00. The total number of new mom- bers received during the year was 128. There figures do not mean that only 29 of the old members are still with us, but they are an interesting comment upon the shifting natare of our membership.
The financial statement for the year's work. ing shows a deficit of $1,388,12, which is more than covered by pledges."
EDUCATIONAL
follows: Shorthand 10, Typewriting 9 Ad. The night school enrolment has been as vanced English 22, Commercial Correspond ence 9, Japanese 4, Intermediate English Heginner's English 15, Music 13,- Total 115. 17. Mandarin 8, l'ookkeeping 9, Cantoness to
average allendance has been about 30%," A day school was inaugurated in March and with an enrolment of 34. bays.. successfully maintained throughout the year
were given on such subjects as "Western Edu
During the spring and autumn five lectures
of Science", "A Man's Food", "Some Won- cation in the Philippines", "A Neglected Hero ders of Mature and Some Works of Man". The French Revolution." The average at- tendance at these lectures was about scó. Although not organized until October, the Literacy and Debating Club has had three successful meetings, two lectures, followed by discussions, and a very good debate on the subject, "That within to years Ching will be the greatest Nation in the World. The by Messis, Li Pak and Li Wai Ching and Mrs. Library has been augmented by gifts of books J. Ellen Foster. The grade and number of magazines and periodicals in the Reading Room has been raised.
ATHLETICS.
to the Association for one year the large piece This department received a much needed encouragement when the Government allocated Carround to the cast of the Polo Grands at Causeway Bay, A football field and two tennis courts have already been into
put
for abape play. The football-team bar played six mat- ches, winni, three, losing two, and drawing one. The cricket team lost the only match played. The bicycle club with 16 members took a very fine run to Taipe on the King's Birthday. The Bathing Club had a member ship last summer of 40. Theseason was closed. on Sept. goth with an afternoon of aquatic
ports, comprising ten events,
SOCIAL
HONGKONG V.RA
NEW YEAR SHOOTING SCORES
The members of the Hongkong Volunta Reserve Association aliended in large murĀJIEM at the King's Park Rings on China New Year's
handicap with a possible of 70- day and Saturday lait The principal co were follows-500 yards Razgo
Goo. K. Haxton, ... 10. Au bƐnckmile AP. Nobbs 70 McCubbin AW.. Watt
Mactarians..... Hon d. Stewart
1. N. Joues Melanes 69 B. L. GAB Wm. Goodfellow... A. G. Newington... G. A Hastings..... 6g H. fillings
W. Dobbs........... 68 C. J. Allen
2 A Biorey di Sir T. T. Piggottie 16...
...68 E. A. Hewetti Owen Hughes... H. W. Fraser
671.J. Stabbings. 55 8. Lewingdon 67. A. Jenkint
R.
:53
E. W. Torrey 07 W. Hoskis..... 4 D. J. McKauzis ... 67. Hon, W. Chatham
Dr. E. Evan Jones 66 G. F. Thomas... 34 JCH Gow
A Ritchie C. * 65. J. Mi ¡landerson.... 33 A. S. Gubbay 6 S. A. Joseph-inte
13. IT. Douglas..... 65. J. A. Layon sinu. 52 H.T.
Hutch/ges 2.65 G. G. St Forsyth... 31
és H. W. Sladao 54 64 H. Sykes'
309
J..H. Fdgeon C. E... Beavis ... 6 A. R. Linton T. P. Cochrana. 64.
The three trophies presented by the Associa tion of China New Year's day, were won by the folowing gentlement.
G. K. Haxton+tem 70 A. P. Nobbs... in 55+15=70. AW. J. Wall............................. 52418-70
sist ult, The following are the principal scores in the eight months' competition for the "Governor Cup 1995."
A.W. J. Watt HW: Fraser
55+11-60
W. T. Edwards in...an 49410 J. H. Pidgeon 64 scr
E. A. Irving...44+0-64-
T. Cochrane........ 44+2004
J. C. Go......
A. Mackenzie
C.E. HI. Beavis .......
R. E. O. Bird Dr. E. Evin Jon
Kr.63
$8+ 4=1ã: 55+.6-61- .45+15=60 49+10=59 A. P. Nobbs................ 33+20=59 · W. G. Winterbum 45+12=57 Į.}. Stubbing..... 534 315- E. W. Terrey í 30+16m55 E. A. Hewalt portionin
38416-54
Sit F. T. Figgott 49+ 453 W. H. T. Davis. 404 Ja J. C. Peter...
THE KOWLOON, LAND AND BUILDING CO., LD.
The seventeenth report of the board of. direcion to the ordinary menting of share holders to be held at the company's offices, Tuesday, 6th February, as follow Victorii Buildings, at o'clock soon, on
Gentlemen,--The directors, now submit to you a statement of the affairs of the company, and balance sheet for the year ending, Stat December, 1905. "
The balance of profit and lose sccoment, for the year after writing off all charges, and expenses, amount to $16,124.39.. The directors, therefore, recommend, that a dividend of $2,00 per share be paid, which, after writing off the, direcion' and auditor's less, will leave a balance of $57439.to be carried forward to credit of a new profit and loss account.
Directors-Messrs. T. F. Hough and, T. Roger retire, by rotation, but offer themselves for re-dection.
Auditor. The accounts, have been audled by Mr. Thos, Arnold, who now miles, but offers himself for re-election,
T. F. Hough,
Chairman. Hongkong, 8th January, 1996;
BALANCE SHEET TO 31ST DECEMBER, 1903. Liabilities, Dec. 31, 1995. Paid-up capital ..............................
$180,000.00 Accounts payablog........................m
383.80 Dividends outstanding........................... 104.55 Balance of profit and lose account,... 16,124.39.
Dec. 31, 1995. Cash
Aurią.
Cost of property Accoudl receivable....
"
To
$196,612,64-
12,545 TO **** 187,032:17:
2,035,37
$196,612.64
PROPIT AND LOSS ACCOUNT. Dec. 11, 1995. Dr.
charges
To crop rent...............imoSSAYOMELES To fire puranica......
To repairs.........
*****
786.20. 535,43
To commission to spets................
********** 1.547-37 To balance to be appropriated as follows
Directors' feca. 500.00 "Auditor's Ice
50.00 Dividend of $2.50 per
shato
To Bacarried to new profit and loss accoys,
Jan, 1, 1905.
By Balance brought forward
Dec. 31, 1995.
Rent, sauna Interest,...
TI
Scrip labs,...i
15,909,00
374.29
**** 16,174 19
" HIS BROTHER'S KEEPER,
TOUCHING INSTANCE OF FRATEKKAL LOY
·A· Chinaman was led into the Court this morning by the Cour' constable and 'plaket. before Mr. F. A. Hazeltod.
Interpreter-You as charged with obstrac»
tien
Chinaman-I,plead guilty,
Indian Sargeant Hot this is not the right
His Wambip-Wore you the man that svas It was my brother i
Datendant No. It
It is so. Is it true that this company bas dispany knowing that when a certain position had Company might give them very good offer been arrived at they would divide the profitswithsome day, and they should not commit them the managing director. They trusted that the elves, knowledge and experience of the managers: would lead them over all obstacles. He sug-1 voted for it and 1 againsi.
The amendment was put to the vote, when gested that when a similar situation arose in The subsustiva i motion future it would be better to inaugurate a system there were a against and 8 in favour of it.
was put, and of allied or affiliated companies over
The motion was therefore carried. they would have some measura control.
The social spirit of the association has been Hr. Pollack moved: "That the shareholders
improved by the appointment of 14 recaption At least the shareholders of this com of this company de protest against any of their:
officers, two of whom are on duty in the rooms pany would be in a better position then directors and officers serving any land com
each evening. An orchestra of 12 places they were at present. Mr.
WAS ollock had pany which competes in business with this in this country. The Government content and has since met swice a week for practice man. Not the man l'arrestad, referred the item of 139,000 which seemed have been expended in accordance with the
company in any respect whatsoever."
to stop the importation of Fombay cotton if Mr. Gershom
hom Stewart seconded
the disease is traced ip connection with that with good progress. A chass and Articles, but that amouni did a
Chairman; If
draughta dividand was only $7. when they remembered that some of the direc commission
vary
seriously anect your circles in Oaska, and the Committee of the of
of the members, Ond tournaments was held. | (laughter), tors got $1,000 each, and it occurred to him to
ion account.
Osaka Chamber of Commerce held a meeting A new billiaritable was put in during the year His Worship:But why is your brother nice Mr. Stewall ***Anton did this Companio ask the question
We will rhk that. We
(q. consider the course to be taken on the The Charman
I think
and a handicap was held, Mr. Tan Boom here ?-Oh he can't come. He fell down feat belong? Did it belong to the managing
mention the fact.
is only my duty question. It was suggested by the Committee tors, with the shareholders as children looking
that business men should also send a mission Leung won the championship cup. Seventeen night and a sore leg and cancer wil
His Worship ---Sore leg or no sore, Jer The resolution was lost by ta votes to j to Bombay. Mr. Yamanobe, President of the with an average attendance of 18. In a billiard most cons here.
social evenings have been haid during the year for crumbs from the master's table, or to the Messra.. N. A. Sieba and H. P, White wore managing directors with their bighly remaner
Harada, Manager of specially attended the best individual player, as shown by: A 1st VICEROY CHOU, of Lingkiang, has Osaka Cotton Spinning Company, and Mr. tournament with the European Department our
Defendant (leaving Count) 3—173) tall' birazso ntive offices? He was aware that the chair
team came to grief, but our champion was the Nippon Vasen Kaisha, man was not a director when the rival way
meeting pishe Committee, and expressed their match. The Association chole of Is members build three shallow-daught for ad, but it was one of the questions on
opinions on the matter under notice. On has met twice a week for practice and has service of the Yangizs, and basp which he must expect to be heckled. Divided
Friday Mr. Yamanche waited on Dr, Katasato,' rendered valuable asuintance-in-both religious for the vasels with the Kawai allegianca could" "Jead nowhere, but to dis-"
with the object of ascertaining bisv{OWS, and social meetings, w
Motor Keba. They set to be cỡn
Mr. Paflock proceeded to ask how the sale wil effacted,
Podge
The Chairman-I have no personal know dge of this, no having been a member of the
that time. directorate at
Mr. Polluck-The managing, direcions of the Land Reclamation Co. must have made up fisir minds was a good thing to buy this Chairman-That seems reasonable
*,
inclusion,
Mr. Pollock How in the item which appears the acconsisProfit on property, and on
‚§.05,ƒ25,” made up?.
mora curious adopted it would this ranpliition:ware || Import. This 'dechton-bas niirmed business clubs kai afförded many pleasant hours to a low / atresiat.
"It seem odd when the !
re-elected directors on the motion of Mt. Percy Smlib, seconded by Mr. Orange.
Masers, T. Arnold and CW, May wait ze appointed auditors on the motion of Mr Sayer, saganded by Mr, Percy Smith, 4.7*
The mealing then ended;
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