I
Intimations.
EQUITABLE LIFE ASSURANCE SOCIETY.
OF THE
UNITED STATES.
LETTER TO POLICYHOLDERS FROM THE PRESIDENT
....
NEW YORK, December 14th, 1905. TO THE POLICYHOLDERS: »
HAD hoped to make some statement to you before this, but I have believed it was best to wait until I could give you' a final con clusion in regard to the financial condition of the Society based on full investigation This explains the delay in communicating with you On June gib last, under the condition that shuld have full power as to man and methods, and with no pledges of any kind to I was elected by the Directors of the
any nne,
Society as CHAIRMAN of the BOARD, and, at once assumed the active management of the Society's affairs:
Soon after 1 was elected PRESIDENT of the SOCIETY and the Office of Chairman was
abolished.
One of the first acts of my administration.was the employment of Messrs. Price, Waterhouse & Company, chartered accountants of Great Britain and New York, and Messrs. Haskins & Sells, certified public accountants of New York, to investigate the affairs of the Society under directions to render complete and ex haustive reports on the following subjects
1. The Society's annual expenses, including légal expenses, advertising expenses agency expenses, and cost of securing business..
2. The real estate, investments of the Com- pany, including in the case of each parcel the value at which it is carried upon the books of the Society: the income which it yickls; and the fair valuation of the property, whether above or below the value at which it is carried upon the books of the Society. (If necessary, real estate experts may be employed in as certaining the value and income of the real ertate, subject, of course, lo my approval as to men and terms).
3-
4
The other investments of the Society;their character; and the circumstances under which they have been made.
4.. Tive Society's surplus and the manner in. which it is carried upon the books of the Society.
5. The methods of keeping the Society's accounts, and die respects in which itssccount- ing may be improved.
6. The relations between the Society and the trust companies, banks, safe deposit companies, And other institutions with which the Society is affiliated, by ownership. of considerable amount of stock or otherwise. (In the case of every corporation in which the Secinly has a dominant or important interest, or will which the Society has special relations, the owner ship of stock, other than that owned by the Society should be ascertained so far m pract cable).
THE HONGKONG TELEGRAPH, SATURDAY FEBRUARY
Entimations.
*** ANNUAL AUDIT."
It will be the policy of the gow administra tion of the Society to insist on as independent audit of its accounts as to its fiscal condition, once each year, the result of which will be published.
NOMINATION OF DIRECTORS.
Under he change in ownership of a'majority of the stock, the shares were at once put in trusi; and Directors are now nominated by the rodees-Hon. Grover Cleveland, Justice Mor Kan J. O'Brien, and Mr. Ceorge Westinghouse. Thirteen Directors are chosen annually, and the Trustees will each year offer an oppor tunity to the policyholders to express their pre- ferences in respect of the choice of Director.
POLITICAL CONTRIBUTIONS..'
HONGKONG AND SHANGHAI BANKING CORPORATION:
The eighty-first repart of the court of directors to the ordinary half-yearly general masting of shareholders to be held at the City Hall, Hong- kong, on Saturday, the 24th February, is as follows-
To the proprietors of the
"
Hongkong and Shanghai Banking Cor-
poration." Gentlemen,The Directors have now to submit to you a general statement of the affairs of the Bank, and, Balance Sheet for the half- year ending 31st Dec., 1905.
The net profits for the period, including $1,702,728 85, balance brought forward from It will be the policy of the Society hereafter fast account, after paying all charges, deduct not to make conlibations to political Caming interest paid and making provision paigns. It is my opinion that we have no for, bad and doubtful accounts, amount to tight to use the funds of the Society for any $4,564,195-72. such purpose..
REAL ESTATE MORTGAGES,"
By Balance of on- divided profits, June 30th....$1,700 By Amount of net profits for the six months end- ing December 31st, 1905, after making provi sions for bad and doubtful deble, deduct
ing all expenses
and interest
paid and due... 3,161,666.87
10 1906.
$8,064.32, brought forward from previous ac- ! Colton Milla-Hoogkong Cottons have count, and after paying running expenses, proved and are in request at $14)-- Ewog have salaries, premia of insurance, repair and all hardened and can be placed at Tis. sa Laou other out-goings, the Profit and Loss Account| Kung-Mows are unchanged at Tis, 6o. The show a balance at credit, of $104,080,93 and following is a resume of the Directors' Report from this amount they recommend the payment for the twelve months ended 31st December, to, shareholders · of a dividend of $t par share | 1905, to be presented to shareholders at the which will absorb $80,000, leaving a balance of General Meeting advertised, for the 10th $14,08093 'n be carried forward. It will be instant. Inclusive, of Tis, 10,000 brought for observed that, notwith landing the depressed | ward from last accouut, the 'year's working condition of trade during the past half-year the , shows a profit of Tiu, 173,685,18 which it is pro- caralogs are equal to those of the same period posed to deal with in the following manner in 1904. Indo-Chinas am firm at. 397. China To pay a dividend of Tis. 8 per share on 7,158 and Minilex-have advanced to $11 and are shares which will absorb Tis. 57,364.00; to $4,864,395.72
inquired for at the rain. Shell Transporta have | Depreciation of Mill Buildings, Reservoir and $4,864,395,71 been booked at 23/6. Other stocks under this | Land limprovements, Machinery and Furniture,
head are unchanged.
Th. 75,880.371 la Commission to General Refineries, China Sugata hava further ad-Managers, Tis. 9,782,49 ; and to be carried for To Balance,
$10,000,000,00 vested in sterling securities), $10,000,000.00 Vanced to Sarg at which rate shares have ward to New Account Th, 30,760.42. Inter- By Balance June 30th, 1905 (in
changed handı. Lurons have jumped to $30Į nationals remain in demand at Tis. 44. $10,000,000 after, males st $15.
Miscellaneous-Green Island Cements have Mining-Chinese Engineerings are in `re been taken off the market al Sjo und 531, the
By Balance June 30th, 1905,500,000.00 $4§. We are advised that the crushing for may be obtained.. Electrics bave advanced and
Transfer from profit and less
January produced 494 ounces of smelled gold are wanted at Sió and fry for the old and now account.....
1,000,000.00 from 3,950 tens of stone,
[`shares respectively. Tramways have changed Decks, Wharves and Godowns.-Hongkong ownership at 5315. S. Watsons have been $9,500,000.00
and Whampoa Docks have been dove at S164 bought and close with further buyers at $13. - and S-65 Farnhams experienced a rather Sumatras, have weakened and are on offer at sharp decline and sales at as low as Tie, 120 Ts, 60, Pulp and Papers have gone up to for March were repoited, but the market has Ts 160 and are in demand at the figure. We since strengthened and closes with buyers at
-- STERLING RESERVE FUND, ``
SILVER RESERVE FUND...
In the last ten years this Society has loaned $1,000,000 from the profil and loss account to To Balance,remaçivər $9,500,00000quest at Tls, 9.70. Raubs have been sold a market closing at $3.3. mi which rate shares
The directors recommend the transfer of credit of the silver reserve fund, which fund will then stand at $9,500,000.
over G $120,000,000 on real estate mortgages, mostly in large cities. Only in six of these cases has it, had to take property under tare- After making this transfer,and deducting closure and in these six instances the property remuneration to directors there remaius for was sold so as to ne: a profit. It will continue appropriation $3,849,395-72, out of which the to be the policy of the Society to make investisector recommend the payment of a dividend ments of this description.
COST OF INSURANCE.
The very essence of life insurance is safely find this can be secured only by reasonable premiums.
of one pound and fifteen shillings sterling per share, which at 4/6 will absorb $622,221,22, and a bonus of one pound sterling per share, which at 4/6 will absorb $355.555-55.
The Balance $1,693,777.40 to be carried to new profit and loss account,
DIRECTORS.
doubtless asking themselves the question A great many Equitable policyholders are
The difference in exchange between 4/6, the whether it will pay them to continue their rate at which the dividend and bonus are de poles. To such I wish to say mast emphaticlared, and 2.09/16, the rate of the day, amounts cally that my investigation of the affairs of the to $1,171,840.55 Sobiety has convinced me that there is no cheaper way for the policyholders of the As I have pointed Equitable to have sound life insurance than by retaining their policies. But, the surplus of over G. $7,000,000, ar safely invested upon a basis which returns an excellent rate of interest, upon the revised valuations, and I expect in duellime in accom plish such economies that the cost of admian. tration and securing new business will be reduced to the lowest possible basis consistent with safety and efficiency. 1, accordingly, beliera that by continuing your policies in the Equitable you will receive life insurance at the lowest cost consistent with safely.
•
"I therefore advise you to continue to pay your premiums: to allow your policies to lapse wift be doing yourselves injustice. Your con tracts with this Society are as safe and sound
.. Mr. A. Haupt has been elected Chairman for the year 1906, and the Honourable Mr. C. W. Dickson Deputy 'Chairman,
Mr. H. Schubart having resigued his seat on teaving the Colony, Mr. C. R. Lenzmann has been invited to fill the vacancy; the appoint ment requires confirmation at this meeting.
Mr. II, A. W. Slade, Mr, Shellim and Mr. E. Goel'z retire in rotation; but, being eligible for re-election, offer themselves accordingly,
AUDITORS.
The accounts have been audited by Mr. W.
as anything earthly can be. Where lapsesfutton,Potts and Mr. A. G. Wood, who offer have already occurred the agents of the Society themselves for re-election. will cheerfully assist in restoring policies.
of the
EXTRAORDINARY EXPENSES IN 1905. ongratulate you and all policyholders in solvent nacerns on the reformatory results of the agitation of the past year. This Society alone has undergone four separate investign; tinns since January 1st. The extraordinary legal and other expense entailed thereby is amply compensated for by the enforced restitutions and checked waste herein above referred in and by the final assurance you now have. wealth and solvency of your Society. I am convinced that this and other investigations and the resulting stimulation of discussion have strength of established concerns like the Eqakable, more effectually than could have heen done by any other means. While these investigations may have been destructive of individual reputations, the utility of life in- sunnce has been more fully demonstrated than ever before.
7. The subjects covered by the report of the Investigating Committee of which Mr. Frick was Chairman should be fully investigated,
8. When the report of the New York Supersaturacted public attention to the impregnable intendent of Insurance has been made that report should be carefully studied, and every matter covered by it or by the recommendations of the Commissioner should be carefully exam ined.
Subsequently a still more elaborate plan of investigation was agreed upon, with these accountants, and I doubt if any American in- aurance compady ever before had such an exhaustive examination,
There will be no effort by the new adminis tration to have the biggest company in the world; the effort will be to make it the best and Jajett. Conservative lines will be followed. I will be the policy not to solicit or secure new business at the expense of the present policy.
It has taken a large, inca ni men five months to ascertain the exact financial status of the Society, now fully exposed by the balance sheet transmitted with the following note and repro-holers, and in case it is determined that duced on pages 6 and 7.
New York, November 25th, 1905. Mr. PAUL MORTON, President,
The Equitable Life Assurance Society of the United States, 120, Broadway, New York. DEAR SIR:-The exhaustive examination which we have made of the affairs of the Equit able Life Assurance Society, of the United States is in far completed, that we are now able to furnish you with a falance Sheet show. ing the true Financial Position of the Society on September 30th, 1995,
The Assels of the Society as claimed were all found to be on hand, and amounted in value to $416,166,500,10 as shown by the Balance Sheet.
The Surplus over and above all Liabilities amounted to G 67,142,865 42.
A consurative revaluation of the Assets, in- cluding a re-appraisal of all the real estate owned by the Society or covered by mortgages heid by the Society, has resulted in a reduc tion in certain of the values adopted in the Society's last Annual Report, principally in Real Estate and in Stacks of certain financial institutions
business in any section of the world is unpro- fiteble, that field will be abandoned.
Over 98 per cent, of our death claims are seller within 24 hours after proof of death is received, and since January 18, 1905, through all of the agitation concerning life insurance, this Society alone has paid out in death claims and benefits of ather kinds over G. S116,799 every working day,
saring you that it will be my constant endeavour to conduct the affair of this Society in a manner that will merit your hearty appro- balion, I am,
Very truly yours,
2
„PAUL MORTON, President.
BALANCE SHEET,
September goth, 1905.
G. & ..... 28,550,270.00 13,776,006.04 235,538,063.00
ASSETS
Real Estate ....... Secured Loan Bonds, Stocks and other Secun-
Bes Cash in Banks, and Trust Cola- panies deposited with Foreign Governments and in transit 20,727,986,01 Prensioms in course of Collection 5.805.442.64 (Signed) PRICE, WATERHOUSE & CO, Agents balances.......... 7,664,640.76 Chartered Accountants. . Interest and rentais due... 4,014,091.65 by A. Lowes DICKISON, F.C.A., C.P.A.
Total assets...G. $416, 166, 500.10.
LIABILITIES,
Yours very truly,
(Signed) HARKINS & SELLS,
Certified Public Accountants,
by ELIJAH W. SELLS, C.P.A,
You will be gratified to learn: (1) That all the assels claimed by the Society of bigh grade, sed are con- are on hand, are servatively worth G 5416,166,500.10,
(2) That, over and above all liabilities, the surplus in G $67,142,865,47, Rbout seven- eighths of which is a fund for division among existing deferred dividend policies at the end of their accumulation periods.
(3) That the reduction in the book value of our asses and surplus is caused by a revalua tion on a conservative basis, and in no way reduces the income of the Society,
The decrease in the value of asses is chiefly in real estate which was carried at prices too. high, and in shares of certala financial institu
market prices tions, which were carried based on transactions, which were deemed by the accountants to be excessivo.
RETARNCHMENT,
Economics amounting to Ge0,000.00 £ year have already been introduced, which if capitalized on a four per cent. basis would be equivalent to an additional investment of over G $15,000,000. This more than covers the marking down of assets. I expect to institute still further economies of a radical character.
RESTITUTION. Under the past management transaction involving the expenditure of large sums of money
have been carried through frequently without any proper authority of the Board of Directors and with very meagre bookkeeping records, so th
so that it has been dificult in many instances to rocure explanation of certain tran sactions which have taken place during the last ten years, some of which involve a financial loss to the Society.
The Habilities diavowed by theSociety, and the amounts restond to the Society approxi male G. $1,000,000, and legal proceedings baya bean lastituted for the recovery of considerable
And
342,802,061.00
General Insurance Reserve; net. present value of all outstand. ing policies computed with 403
31
cent, interest per Current Liabilities: Death claims, endowments, annuities and
2,556,794.81. dividends due and unpaid Commissions and Current Ex-
penses
************ 2,195,414.19 Fremiums; interest, &c., received
1,399.364.68 in advance.torre
100,000.00 Capital Stock ...ou
Total liabilities...349,023,634,58 Surplus 67,142,865.43 416,166,500.10
We hereby certify that is our opinion the bord balance sheet is correct and is properly drawn up so as to show the true financial posi- iton of the Society at September 30th, 1905.
(Signed) PRICE, WATERHOUSE & CO. (Signed) HASKINS and SELLS. (212
THE HONGKONG STUDIO,
HIGHER CLASS PHOTOGRAPHER, `41 & 43, QURRIES ROAD CENTRALy. TOP FLOOR
PORTRAITS, GROUPĒ and ENLAR GING and COPYING in all Siras.
LARGE SELECTION OF VIEWS ALWAYS
DX HAND
PRIOR VERY, MODEHAZT, Hongkong, 18th September, 2003
[61
ABSTRACT OF ASSETS AND LIABILITIES, HONGKONG & SHANGHAI BANKING CORPORATION.
Paid-up Capital, Stealing licserve Fund, Silver Reserve Fund, ......... Marine Insurance Account, ..... Notes in Circulation
Authorised "issite
against sécuri ties deposited with the Crown
Agents for the
Colonics, $10,000,000.00 Additional issue
authorised by. Hongkong Or dinance No: 19
olegoo, against coln lodged with the Hong-
kemg Govt. 9,953:943.00
Current accounts,-
Silver,
$79,174,031.50
Gold, £4,453,633
5.945,125,816.76
Fixed deposits,
-Silver,
..$33,637,685.12*
Gold, 45,123,024
bt. Ed. $3,017,006.30
London Bankers, call loans Bills Payable (including Drafts on and shirt sight drawings on London office against bills. receivable and bullion ship. ments).......
... Profit and loss account, ...................... Liity on Bill of Exchange res dited 4.46,863 172. Eff which 22.04.137 61. Bi have since no.
ASSETS.
$10,000,000,00 10,000,002,00 8,500,000.00 250,000.00
COMMERCIAL.
WEEKLY SHARE REPORT.
IT.
TO-DAY'S EXCHANUM,, Selling
107/16
amanthae right France-Bunk T,T. America-Bank T.T.
erinasv-Rank.T.T.. India T.T.
Tik. 120 Cash and Thu, 122 for March delivery. hear the report is very good and that the nat Reviewing the share business for the week, Kowloon Wharks are without busintas at $108, profit for 190j.amounts to about Tis. Fo5,000. Langkats hava depreciated to Tls. 2273, but are Messrs. Benjamin Kelly and Potts, in their songke Wharfs are slightly weaker and are wanted at this fate.
Lands, Hotels and Buildings.-Hongkong| peit of gth inst, write. During the week under offering a Tls, 230. review, business has been almost at a standstill owing chiefly to the festivities in honour of our Lands are obtainable at $120. Owing to the Royal Visitor, and, to a certain extent, to the announcement that no bonus would be declarandon-Bank T.T
ed for 1935, Shangbai Lands, have dropped to Do temand. near approach of the Race Meeting.
Banka.-Hongkong and Shanghai Banks Ta. 116 and have been sold at this price. have been negotiated during the week at $895 Kowloon Lands are quoted at 537 ex the and further shares are obtainable at this figurs: dividend of $aj paid on the 7th instant. Hong- The London, quotation remains unaltered at kong Hotels are steady at $150. The Annual Report and Statement of Accounts of the 6. Nationalt are still inquired for at $38. Marine Insurances.-Cantons have further. Humphreys Estate and Finance Co, Ld:, hava improved and are in demand at $330. China been published. The net profit for the year to Traders continue weak and are procurable at ended 31st December, 1955 amounts 19, Unions, can be placed at $735 and 135,671:97. After deducting from this the Yangtszes have buyers at the slightly reduced sum of $12,567,18 commission to Directors imouths' sight 1./...............
and General Managem, there remains, in-months' sight L/C.
30 days' bight Sto Francisco & New York..501 Fire Insurances.--Business has again been cluding 511,959.03 brought forward from 1904 months' sight done in-Chins Fires at 588. Hongkong, Fires the amount of $124,063,82 at credit of Profit and ju days' sight Sydney and Melbourne 2/13/16 Loss Account, out of which the Directors re-months' sight Franco..........................2601 are to be had at $375.
Shipping.-Hongkong,'Canton and Macao commend that a dividend of 8ɔ cents per share Youths' sight Steamboats are wanted at Sig. In their Rebe paid to shareholder, absorbing $119,992.20, monids' sight Germany
Silver........589847225) port for the half-year ended 31st December, and that the balance of $5,070.61 be carried ink of England rated
Directors state that including forward.
Fate of $170.
10%, the
NAME.
Alacrity * Andromeda Arun...
Astraca
·
10. demand bangni Bank T.T.. Singapore TT...... pan-Hank T.T.
Bank T.T. von morgan
"Buying
Savereign bak amazon era un
HIS BRITANNIC MAJESTY'S SHIPS ON THE OHINA STATION,
TONE.
GUNS I.B.P.
6001
CAPTAIN,
Commander Harbord
eln.
com. prem.
.2/0 15/16
3/1 1/16
Captain Lionel G. Tufnell
Commander II, du C. Luard.
D. Wilkio, 0.8.0.
Commander H. D. Captain II. W. Savory,
Lieut-Commander H. E. Sullvani
Licut-Commander Bather
*... Yangisze ... Hongkong
Hongkong en route Bingapore Bongkong
en route Singapore
CLASS.
LAST REPORTED AT
cruiser, 1st class
despatch-vessel...
1,700
3,000
Hongkong
11,000
16
16,500
torpedo boat destroyer...
550
7,000
Captain R. Nelson Ommanuty... Lieut.-Commander R. H, Heaton
**
Hongkong
Hongkong
cruiser, 2nd clas
4.355
7,000
Shanghai,
Bonaventure
cruiser, and class
4,360
7,000
Captain H. H. Torlesse...
Hongkong
Cadmus
sloop ...
1,070
1,400
Yangisze
Clo
Cherab
Dladom Den ..
water tank and tug
·190
300
Hongkong
sloop
1,070
LAR
1,400
cruiser, 1st class
£1,000
16,500
torpedo brat destroyer
7,000
EXIS... Ettrick Exc
7,000
7,000
Lieut-Commander Lewin
1,000
Commander A. F. Everett
5.700
Lient.Commander Stevenson
Hongkong
19,953,943-00 Fame...
7,000
Flora ... Handy
4,000
4,000
Captain H. Grant-Dalton Lieut.-Commader H. B. Cox Lieut. Commander Richards...
Hongkong
Hongkong
Hongkong
Hart...
Hecla...
7,400 21,000
Captain E. F. B. Charlton
Hongkong
Captain Shortland ...
***
H
Hongkong
7,000
Lieut.-Commander C. Seymour *...
3,900
Lieut.-Commander W. H. Darwall
Hongkong
Hongkong
1,200
Boo
Lieut. Commander E. V. F.R. Dugmore Lieut.-Commander F. B. Noble ...
Yangtze
West River
6,300
Lieul,-Commander J. Kiddle
...
Hongkong
650
Commander C. E.. Monro
en route Hongkong
**
river gunboat ..
240
West River
river gunboat
240
West River
river gunboat
240
torpedo bust destroyer ...)
6,500
...Hongkong
cruiser, 1st class “re
21,000
Captain W. L
Hongkong
receiving shipy
Commodore H. P. Williams...
Hongkong
་་་
8001
torpedo boat destroyer
6,300
surveying ship...
450
Lieut-Commander E. Secretan Lieut. Commander Hughes ... Commander R. W. Glennie
Yangisze
Hongkong
Hongkong
torpedo boat destroyer...
.350
5.900
Lieut.-Commander C. E. L. Thomas
Hongkong
river gupboat ...
800
Lieut.-Commander G. B. Spicer-Simson
Yangtze
195
river gunboat
·$50.
***
river gunboat
550
Lieut.-Commander G. J. Todd Lieut.-Commander Jao, F. Koox....
Yenglezo
Yeogters
9,848,32 flagite...
་ས
torpedo boat destroyer
torpedo boat destroyer
torpedo boat destmyer torpedo boat destroyer... cruiser, 2nd class torpedo boat destroyer ... torpedo boat destroyer
special service, torpedo-v...
cruiser, 1st class
torpedo boat destroyer... torpedo boat destroyer
river gunboat
river gunboat......
lorpedo boat destroyer ...
surveying.vessel
12,00
Richen...
...
Janus ..
*
Kinsha Moorhen
·106,455,291.42 | Otter ...
Rambler Rohin... Sandpiper.
Saipe... Taku
16,180,101,20 Sutie] ... 4864.399-72 Tanar
Teal Virago Waterwitch Whiting $290,803.579 66 Widgeon...
Woodcock
$47,197,668.18 | Woodlark...
Cash, Coin lodged with the Hongkong
Government against note cir culation in excess of $10,000,000 10,000,000.00 Bullion in hand and in transit,... 6,199,658.18 Indian Government rupee paper, 1,975,978.33 Couses, colonial and other se
cuskies, Sterling reserve fund investments,
viz.:- £570,000 28% consols
a1 85.......
fof which Lasa,000 fold
Special 1ondon He
L255,000 24% national
war loan, at 90.............. 229,500 L325 other sterling securities, written
down 10........
*** 286,000
river gunboat
* Flying Flag of Admiral Sir Gerard U. Noel, Commander-in-Chief,
Caronado D'Assas
IH
Décidée Descartes ... Dupelit-Thouars Esurgeon Francisque... Fronde 91,144.18.55 Guichen ... 13,710,570 Gueydon...
1,107,110.54 leari Rivière, $290,803,579.66
£1,000,000 10,000,000. Bills discounted, loans and cre
dil Bills receivable, Bank premises,.
**
receiving-ship torpedo-depot ... river gunboat river gunboat armoured cruiser gunboat
***
cruiser... armoured cruiser sub-marine...
destroyer ...
143
destroyer ... protected cruiser Armoured craiser river gunboat river gunboat destroyer de
Lieut.-Commander Robert E. Vaughan. Lieut. Commander 11. T. Allay. Lient-Commander J. T. 5. Lyne ... In reserve...
Grant +
for
139
***
Yangtze
Commander Kéribuel
***
Captain Allaire...
Lieutenant L'Eost... Commander-Amet ...
M
www
་་་
Haiphong Haiphong, Cape St. James
Macao
.... Saigon
Saigon
Hongkong
Shanghai
d'Along
Saigon
Saigon
**
Saigon
Baigon
9,368,392.05
NAME
FLAG AND DESCRIPTION.
FRENCH MEN-OF-WAR ON THE CHINA STATION.
TONS. GUNS.
H. P.
COMMANDING OFFICERS.
LAST REPORTED AT
...... £484,500.
will the lack of England
Acheron Adour ... Alouette Argus
armoured gunboat
10
1,700
Lieut. Fauré
Licut Merle
கம்*
•
$90
Lieut, Teangel...
iço
Lieut. Millet
9,500
1,000
5,500
6,300 303
Lieut. Coloni
Lieut. Bibel
-
Capt. Tracao.....
20,200
Capt. Ridour...
Lieut. Portier...
308
Lieut. Le Corollar...
300
1,200
Command
Laporte
F+1
19,500 6,300
Capt.
Lieut. Duchemin
**
Lieat. Grellierë
Lab *#4
***
Lient, Marchand
ฟ
Tongks
Canarian
Saigon
6,300
Saigon
Licut, Glorieux
Saigon
Lieut. Vincent Bredugone
A
6,071
(Flagship of Rear-Admiral de Maceios
Capt. Passerat de Sitans, Com'ding
Baigon
the local naval defenceoffado-China)
Lieut. Lebail
1,700
Liest, Duc...
701 +
*10
**+
...Saigon
Saigon
Upper Yasgtsa
Saigon
4,560.
Hangay
Lieut. Fougerousse ...
Saigon
500
Lieut, BrogacD
- GENERAL PROFIT AND LOSS ACCOUNT, HONGKONG & SHANGHAI BANKING
CORPORATION.
December 31st, 1905.
Dz.
To Amounts written off:
To Dividend accous!¡—
Lizi per share
on 80,000 shares.
Kerszint ...
Remuneration to directors,... $ 15,000.00 Pistolet
-$140,000
416 .....$622,232,22
Bonus of 1 per
share on B0,000
-£80,000 at 416 355.555.55°
Dividend adjustment a/c :--
Difference in exchange be- tween 4/6, the rate at which the dividend and bonus are declared, and 1/0 9-16, the rate of the day,
*...] sub-mario.
che Montcalm... Mousquet
www
Peiko
Perle ...
Protée... Rapitre
Redoutable*
***
H
414
Habra Sty*, *** Takiang
***
977.777.77 Takot.
Vétéran Vigilante
**
...
1,171,840,$5
in Transfer to silvar reserve fund, 1,000,000.00
Balance forward to next kalf-
year,
73777-40
armoured cruiser destroyer... river gunboat... gunboat
*** *
**
sub-marine...De co destroyer ... 170 sab-marine......
destroyer...
*** **
battleship, reserve
destroyer ....
***
armoured gunboat...
river gunboati
destroyer
receiving-ship torpedo-depot in river gunboat o
༄ L, ཚིདྡྷིདྷཱ ( མཧཱནྟཱིཏྟཾ, (མིཏྟཾ)ནི& LR)R @ ནིËi;
olColov
Commander Sagot-Durauroux
Commander Simon
Armbruster
市
Baie d'Along
Haiphong
Haiphong
Saigon
Baie d'Along
Baie d'Along
Baison
Commander Terquem-
*Flagship of Vice Admiral Richard, Commander-in-Chief:
| Flagship of Rase Admiral Bolsas, Second-in-Command.
At the disposal of Rear-Admimi de Marolles, Commanding the naval defence of Indo-China
Flagship of Rur-Admiral de Marolles,
Canton