posed to it. But as a matter of principle 1 um asking this question, these shares basssued at $to they will participate in the dividend of twenty per cent. Would'it ot be better from the point of view of general management to borrow money at six, per cent, and give the shareholders the benefit of the difference i
The Chairman: would certainly be better If you could depend on getting ragney at six per cent.
In
Mr. Michael-Every other company Hongkong getting money at six per cent, is only a matter of principle. As a shareholder
like the proposal very much.
The Churman then prenosed the adoption of the report and accouots. Sir Paul Ch ter seconded-Carried unanimously...
It was proped by Mr. Parlane, and second- ed by Mr. Carmichan, that Mr Paul Char Hon. Mr. C. W. Dickson, and Dr. J. W. Noble be re-elected to the Consulting Committee. Carried.
On the mezion of Capt. Clarke, seconded by Mr Moses, Messrs. T. Arold and W. H. Patts were re-elected auditors,
The Chairman-That is all the business, gentlemen. Thank you for your attendance. Dividend warrants are ready now,
The meeting then terminated.
..
HONGKONG AND WHAM POA DOCK COMPANY, LIMITED..
ANNUAL MEETING,
26th ult
The ordinary yearly meeting of shareholder in the Hongkong & Whampoa Duck Co., Id., was held in the offices of the com, ny, Queen's Buildings at 12 u'cine': noon, to-day, for the purpose of receiving the repost of the directors and the statement of accounts to the 31st December, 1905. There were present Sir Paul Chater chairman), the ton. Mr, C. W. Dick- Sun, Messrs. E. Govtz, G. H. Medhurst, N. A. Niebs, 5. silverstone, 1..5. Van Buren, and H. P. White (ccm). W. Wilson (acting cricź manager), T. I Rost (secretary} G. Murray Buin, 11. F, Carmichaël, G. de Champeaux, Chau Sin K, Albert Denison, W. C. Jack, J. 1. Leiria, Lo Cheung Shiu, J. F. Michad, S. H. Michael, 5. 1. Michael, E. J. Moses, W. Parlane, P. It Rolle, F. Salinger, Murray Stewar, H. ". Smith, Caplain Tillest Captain R. Unsworth, ned Mr. E. C. Wilks.
|
CHE
HONGKONG TELEGRAPH
per statement
65,749 40
$1,979,217:35
Assets,
Valve of marine lat No. 5 and re- maining portion of marine lot No. 3 and remaining portion of marine lot No. 7 Praya reclamation (marine lot No.
́188).
lavish in expel ditu e both sem oraty and per Repairs and renowals, 'balance na mauent. In bad times it more that ever be. haves us, in every way, to retrench consistent with the maintenance of efficiency, and in caso such a policy might have escaped the notice of the Board, I desire now to urge this Far be it from ma upon their attention. to advocate low salaries, for instance) but rumour has it, with what truth I do not know, that in some cases we are not receiving value for s staries paid,euroestly draw the Board s attention to this question, as well as to the apparently unnecessarily large stock of mate- rinis carried, and it will be satisfactory to know that thear, and all like matters, have the con. stant, careful, and thorugh scrutiny of the Board. I hope that the outcome of improve- ments will gradually be shown to the share- hoklers, not in words" and hopeful prophesies, but in tangible results.
The Chairman-Any further remarka? Nobody responding, the Chairman said: 1 beg to propose the adoption of the report and accounts as prevented be accepted.
Mr. Murray Bain-I had intended to com pliment the d rectors and yoursell, Mr. Chair- man, upon the way in which the Company's affairs have been managed during the past years. After the statement on the part of Mr. Michael and your own explanation 1 feel inclined 10 emphasise that I consider that the. liard have exercised an, exceedingly wise discretion in the distribution of the profits that have been made. The profits made have been wonderfully good considering everything all round, and instead of severe criticism or critcism of almost any kind the Board deserved the greatest credit for what they have done. It is all very well to try to blame the Board for not doing this or not doing that, not getting business, doing this or doing that; but it seems to nie it is simply o 1 of the question. Last year was a lean year and no efforts on the part of any leading member of the Board could have changed that fact, However, I should like to call attention to the peculiarity which seems to force itself, upon my mind the fact, that the Board has done righ. There is a section of shareholders who complain about the smallness nf the dividend. There is another section that complains about the largeness of the d vidend. That forces me to the conclusion that the Board has selected the happy medium, and in its wise discretion has done the best thing in the i terests of the solid basa-file investor in the Colony. There is one other thing I should like to call atten tion to and that is the wisdom which the Board has shown in re-electing you, 'Mr. Chairman, fur another terin of office. We all know the ins terest you have taken on behalf of the Com
and 1 think that, every
one of will
only those present, agree-no! but also those who are obsest-in the
pany, 15
The Chairmani sai: Gentlemen.-The re- port and s'atement of accounts having been in your hands for some days, I will, with your permission, following our usud course, take them as read, The net profits for the h year e ding 1st December, 1995;, amount to $17,649 83 as compared with $328.200.5 for the first six months of the year, and $179,159.93. wish that you should continue for a long time for the corresponding period of 1934, a falling |- to come the good services which you have off which i am sure we all
greatly deplore. To
given so long on 'our behalf (applause). With these remarks. gentlemen, I have great plea- sure in second'ng the adoption of the report and the passing of the accounts as placed be- fore us - fanplause).
The motion was carried nem, can.
The Chairman: I am sure the directos will pay due consideration to the remarks made by Mr. Michael as they have always done - {applause).
Mr. Sanger moved the confirmation of Mr. G. H. Medhurst, the Hon Mr. C W. Dickson, and Mr. S. Silverstone as directors of the Company.
Mr. Partane seconded. Agreed.
Captain Tillett moved the re-election of Mr. H. P. White and Mr. R. Goetz as directors.
Mr. Wilks seconded. Agreed.
this sum must be added the sum of $501,332.27 the balance brought forward from last account, and after deducting directors and auditors lees, we have av silable for appropriation the sum of 1662,231,10, which tum your duectors 'propos, subject to yur concurrence, to de.J
. J. R. Michael-1 think Mr. Bin has with as falows:-To pay a divulend for the misunderstand me in saying that we were com half-year of 12 per cent, or 16 per sh te absorb.plaining about the directors for not getting ing $300.0 and to carry forward the bilance
is business. What I have urged for is re- $361,212,10 to a new account. While, as 1 trenchment to suit the times. We cannot have already said, we must all deplete sop or possibly bame the directors for lack of busi a result for the past six months, it was, you
ness; we shall be content, with air fate. will recollect, foresh alowed to some extent in my speech to you from this chair in August Inst, when I said I was afraid trim various chases we could not fuck for any subst ntial improvement in the immediate future, and it is to be regretted that the depression in business then referred to continuid throughout the remaining months of the past year. Happily, since we Inst met the pace between Russia and Japan, then faoked, orward to, has become accomplished, and the improvement in our business confidently expected to result there from will, trust, have become apparent before I have occasion to again address you. We have not been idle in our efforts to already Secure R share of the work to be done in vessels of the ussian navy, but owing
OUF No. Duck being unable to ac commodate their battleship Caurewitch, we have so fr obtained no work for them worth me dioning, and from this couse also, gentlemen, I regret in say we lost the steamers Minnesota and Dakota which were obliged to go to Japan to be dicked. The tonnast of ships docked during the last six months shows melight falling off of same 2.0 tons, the figures for merchant vessels stand at 45,312 ions as againt 394731 for the last half year, and for war vessels, 29,130 as against 95.000; of this latter only some 2013 ans represent foreign men-of-war, but I hope that in this connection, we shall see a considerable improvement dur- jug the current six mouths, as we have now on our books four American hauleships, nd with be to submit their rep it for the half-year the resumption of trade with this part, by Japanese sicaners, we may reasonably expect ended jist December, 1905.
10
an increased share of the merchant shipping, The new work inghe shipbuilding yard referred to in my last speech has been carried on satis- factorily. We have completed and delivered, the three large steel steam waterboats, a steel water buge for the U. 5. Government at Manila, two large woor'en lighters for focal use and two small steam tags for service al neigh bouring ports. The large seamer f the Yang tsze trade and the car o lighter for Bangkok are making good progress, and we have recently secured an aider for twelve large wooden lighters which, together with various contracts for steel work for the Hongkong Milling Co., cast-iron columns, &c,, for new buildings help to keep our works profitably employed. The work of installing the electric drive in the Saw Mill is still in progress and will be completed during the present half-year on the arrival from home of the mutors, and we have now on order an improved planer and a new lathe. The camings of our dredger Carton River Dre small; the employment which I told you we had in view for her on the completion of her work at Canton having failed of arrange- ment. The value of materials on hand has increased during the period now under review
"
Captain Unsworth move the re-appointment of Messrs. Thomas Arnold and H. V. Jeffries as auditors.
Mr. Leiria secorded. Agreed.
The Chairman-That is all the business, gentlemen. Dividend warrants will be ready
to-morrow.
THE HONGKONG HOTEL·
CO., LU.
The report of the board of directors to be presented at the ordinary meeting of share hudders on Saturday, March 3rd, is as follows:
Gemdenen —In accordance with rection 56
of the atcies of as-ociation, the dacctors now
ACCOUNTS
The profit on wo king account amounted to $58,201 45 8 compared with $89.326 25 for the corresponding period of 904, being a decrease of 31.123.85
The profit and loss ace mai, including the sum of $to, 2640 brought forward from 39thi June, song, shows a credit h lance of $65 249 49. which the direct rs recommend should be ap- portioned as follows:-
To pay a dividend of 8 per cent. for
Building thereon Hotel Man-
sions," payments on account. to date... salonun mena Cost of three Chinese banses on sections B, C and D of inland lot Na. So Cost of Kowloon farm lot No. 3.. section A.....OEMÍNKATAKASYON Furniture and fixtures,
.......... ns per last account $65,17,18 ,22,890 67 Since added.
Installation of electric
light, as per last account ....... ·39,055.40 Less written off, as
per last report...
""
since added
5,000.00
25.05.40 4,574.1
Sisck of lineo, crockery and glass-
ware, &c...................................... Stock of wine, provisions, house-
SATURDAY
MARCH 3, 1906
BALANCE SHEET, DECIMU ́R JIST, 1905.
Dr... Liabilities.
Capital subscribed ...$1,000,00
Amount ald-up... $400,000.00 Reserve fund
........... 1,200,510 ye
Concession Lot No. 9-Value
par last statement in Materials-Value of stock in hand per inventory Cash in hand........
1,206.12
57,366,69
17.99
Great Northern Telegmph Co.
-Amount on deposit
not yet collected ......
C+.
By Capital-10,000 shares of $6.75
ench, fully paid up. ...... Reserve fund
Uncollected dividends Accounts payable........
$1,065, 180,00 245,149.00
Working account, 1904,-Net profit Working account, 1905,-Amount - brou, it forward from below.....
8a10.30 96,834.10 220 417.06
"
Bundry Debtors-Sundry, bills
422,618.04
51;348.390 80
334,510.90
Cr. Assets.
M
་་
33-0000 30,976.90
Cash, on current account with Hongkong and Shanghai Bank. ing Corporation ............ng
....$ Cashin bands of general managers Fixed deposits,
11
131,901.84 1.448.37
Ekong and Shaughai
88,007.85
Banking C'ption...$50,000.00
Charld, Bk, of India,
Aust. and China... $0,000.00
Mercantile Bank of
India, Limited ...... 15,000.00
Mortgages,
Hongkong and Shanghai Bank ing Corporation.............................................. Sundry Creditors. $1,883.10
Robert W. Black
C. C. de Carvalho
mium realized on the
30.103 600,00
+
Frofit and 1011-Pre-
sa cof shares
4000
hew
Profit in the working
of :005
125,000.00
26,629.51
46,278.85
In Hongkong....$1,184,000,00 In Shanghai......... 452,361.57. In Yokohama...... 25.725-39
Japanese Government deposit,--
Consolidation bonds..$26,000.00 Imperial bonds.......... 61,200.00 War bonds.
'Less-Balanceat Dr. from
previous year
....$40,000)
21,500.62
61,501.62
10,260.77
1,652,086,90
24,020.03
48,341.41 5.796.31
111,100.00
Investments,-
Chinese Imperial Go
2,060.01
1,177.38
Shanghai Land In-
$,000.00
46,645 68
1,69,00 [27.55
$1,979,217:35
Ltd., debentures ... 53,020.00
Steam fire engines..... Accounts receivable
hold sundries and stationery As per inventories...... Shares in public companies. Licences attaching to half year to
30th June, 1956....... Fire insurance, unexpired premia Value of seam launch.... Sundry debtors.
Hongkong and Shangbai Banking'
Corporation (unclaimed divi dend account)...mendeanu. Cash in hand miran memuaa
**
PROFIT AND LOSS ACCOUNT" For the six months ending 31st December, 1905 Dr.
To bid debts and refunds......
(rown rent
fire insurance............ makes me
1 rates.........
debenture installation
11
on 5500,000 at 3 per
cent.....$15,000.00
less returned on deben-
tures held by the com pany....
vernment loan, 1886 $25,963.07
vestment Company,
Ltd., debentures... 27,586.20 S'hai Club debentures 9,333 33 Hongkong Hotel Co.,
ALLEGED FORGERY.
65
CHEAP WAY OF GETTING TO BANGKOK. 34th ult Chan Yu Mui, who styles himself a bank 100.00 clerk, was charged at the Police Court this mora-
10
+
ing, before Mr. C. A. D. Melbourne, (t), with 33,158.00 forging a passage-ticket with the intention of obtaining a passage tu langkok on board $tot,12.77 | the 3.3. Loosek, on the 22nd inst., and, (2), with
uttering the said pausage-ticket with the inten tion of defrauding the master of the ma. Loosed. $57.503.00 Mr. H. J. Gedge, if Messrs. Johnson, Stokes 55.500.00 and Master, appeared for the prosecution. It appears that a Chinaman, who wanted to pro- 12,993.8z cure some piss go tickets for Bangkok went to
the Yuen Fat shop, in Queen's Road, West, a fw days ng There he was informed that they could not supp y him with the tickets. When 2,882.10 the Chinaman was about to le we the Yuen Fat shop, the defendant was alleged to have appro." ached the native and to have said that he couki get him the tickets. Next morning defen 'ant called at the Chinaman's shop and handed him eighteen passage tickets, and said that he would call in a few days for the money, which was at The rate of $1 per ticket. The usual price of a ticket to Siam is 513. This appeared suspicious to the native, who despatched his foff to the compradore of the Loosed to a certain whether 52,245.85 | the tickets were genuine. The fukt dit nat return, and the Chinnan went on board only $tor,121.77 to find that his foki was detained. When the
Chinaman arrived on board he also was day, tained. The police were summoned, and to
ether with Sergeant Wilden, they went to a house in Queen's Road. West, where the de- fendant was arrested. The defendant was com mitted for trial.
THE M.S." KWONG IGNG.. :
GROUNDED THREE MILFS FROM PRI',
26th ult. The Canton biat Kroong Tung, with bro passengers on board, which was due hero from Canton on Sunday morning at about two o'clock, did not reach port until about noon, on Sunday. This long delay, we are informed by the Yuen On Steamship Co., was due to the Kwong Tung taking the ground near Castle 114,882.60 Peak. It appears that at about half-pa t one 500.00 on Sunday morning the ing ourside 'was so 201,371.09. dense that the Kwong Tung had to slow down to prevent any mishap. When near $2,348, 90.80 Castle Peak the vessel was grounded, and al WORKING ACCOUNT, 1994.
10 .m. on the same day at high tide she To losses and claims paid....... ..$114,701.94 kot uff and catered the port. The damage,
charges...........................................
34.709 53 we understand, is very alight and the vessel
left for dock at 1.30 p.m., to-day. remuneration in consulting com- mittee and auditors ....................................At commission5 » i...............
535.32 503.40
"
3,130.40
298842
2
exchange......
balance as above
11
By net premia'received, less returns
and re-insurances ..
3,5:4.65
14
11.375 34 5,395 68 3,200,00
inte est
» transfer lees...
interest account........... To directors and auditors' fees
Balance, to be appropriated as follows:-- To pay a dividend of 8
per cent... ****** .548,000,00
To transfer to repairs and
renewals account.... 10,500,00 Towri e 'off v.ine of
electic installation
To carry forward to new
Bccount
Cr.
By balance from 30th
June, 1955
Less dividend
at 10 per coat.....60,000,00
Less transfer
to and renew-
repairs
als account 50,000,00 'Less written
off from value of electric in- stallation.. 1,000,00
6,619 51
.0 9.89
WORKING ACCOUNT, 1905.
5,500,000 45,349-47
276,14
210,417.67
$520.954.73
Tosses and claims paid... €3.981.17 30,996.63 4,146.74 472,618 D4
1. Charges
commissions...
...............47,581.32 exchange....n sangmed naman. balanc: as above
65,449.40 By net prein'n received, less returns
nd re-inzurances $ 91,397.86
$105,126.40
my rents of shops, and offices, old bilding... By tents of shops and
offices, new by Iding ...... By rents of shops and
offices, ho el mansions 13.070.21
Hy dividends on shares in public
companies
10,120,40
TRAGEDY IN HONGKONG.
CHINAMAN MYSTERIOUSLY DROWNED.
10th ult.
$10,954-71
A case which is at present shrouded in my. $380,133 34 stery, and which will occupy some time in solv.. ... 140,771.39ing was discovered at Causeway Bay this after-
46.00
noon, when the dead body of a heavy and well-built Chinaman, who, from eutward appearances, belonged to the sampan fraterni- ty, was dragged out of the harbour. The body was seen floating in the water, th dis covery being made by an Indian policeman, who secured assistance and brought the body ashore. On examination the body was found to be quite warm, but life had departed. There was a Bruise above the right eye, and the left ear had been cui aff. Koun $559.524.00 ilic neck was a thin rope--not tied suffi- ciently tight to cause death by strangula- $411,55107 | tion--and the rope was carried down to at. interest....... 147,892 93 the legs, which were bound. The bruise over .... transfer fees....................................................... a maa 80.00 the eye is stated to have been bleeding when the body was discovered. There is no clue to $559,524.00 the identity of the deceased, but it looks as if there had been foul play. The theory is that the man was bound, a henvy weight attached to the rope and the body flung into the water. his struggles the man may have managed to loosen the weight, but was too exhausted to save himself. The car may have been wrenched off by contact with the rocks. of course, it is all 'pure surmise, far the police authorities have no inkling as yet regarding the story behind the tragedy. The body was removed to No, z Pelice station and afterwards In the mortuary, where a post marien ex- ..............................$12,5 6.62amination will take place. Dedu.t debit Halance from last year 10,260.77
THE NEW AMOY DOCK CO., LD.
The report for present tion to the share holders at the furteenth ordinary yearly meet- ing to be held at the office of the general manager, ip-mornw, is as follows:-
The usual annual audited statement of ac- counts for the year ended 31st December, 1905, is berewith submitted to shareholders. The working nccount shows a profit
of
To which is added premium on issue
of 4,000 new shares.
$12,245.85
40,000.00
} $52,265 85 which it is proposed to deal with as under Transfer to reserve fund...$12,500.00 Write off plast and
3.910.19
91,000,00
7,950 00
2,501 a›
23.531.21
495.00 31.00 780
manager in
3,224.58
58,302.45
$92,397.86
General manager and con. sulting committee ... Dividend of $1.00 per share
on old issue... 6,003,00 Dividend of $0.50 per share
on new issue...... Carry forward.”
By scrip and transfer fees....... By bad debts recovered.
By profit on hotel working account for the six months endling 31st
D cember, 19.5 spent man
་
REPAIRS AND RENEWALS ACCOUNT For the six months ending 31st December, 1901.
Dr.
To payments on account of repairs and renewals during the half-year ending 31st December, 1905 By balance
11,736 73 ... 20,071.19
machinery Write off material........ 3,58981 Commission and fees 10
12
800,00
2000.00 2,221.27
THE BANDMANN OPERA COMPANY.
26th ult. On Saturday night the Randmana Opera Company opened a short season at the beatre Royal City Hall, the piece produced for an opening performace being the musical comedy
"Lady Madcap."
SUICIDE,
16th ult.
Walking along his beat which' came in the vicinity of the hillside oppose Lower Rutter Street, this morning, a plice-constable came face to ice with a startling object. Suspended by the Leck with a stour rope, one end of which was attached to a bunch of the trée, à China. man about $4 years of age was hanging. The rope was cut, but the coolie had already expired, and his body was removed to the morgue. Inquiries were made and it was learnt that de ceased, who, was out of work, was in a bad state, of health and so decided to put an end to his troubles,
STKBWI SNATCHING,
*26th alt.
A young Chinese girl had quite an exciting time in Hollywood Road duria the smaÏÍ hours of Sunday morning. The girl, who was accompanied by her am b, was on her way. home when they saw three mea coming in their direction. On ge ting to close quarters one of the men threw some powder in the girl's eyes, while the others tried to remove her jewellery. The sunh gave the alarm, but the men had succeeded in scaling a gold-ring from the girl's finger, and bolted down. the sreet. A Chinese constable came round the comer in respouse to the cries and gave chase, and was fortunate in capturing one of the men, The coolie was placed before. Mr. F. A. Haz.land at the Police Court this morning 10 give an account of his conduct on the previous night. His Worship said that there was doubt in his mind regarding the case and or dered defendant to be ducharged.
LAND SALBS.
26th.ult.
B.
At the offices of the Public Works Depart ment this afternoon, a lot of Crown land at Kowloon (Inland Lot No. 1172), in Austen Avenue, measuring 19,032 square feet, annual rent $151, upset price $7,613, was put up for sale by public auction. There was only one bidder, and Mr. F. Blupck purchased the land for $7,633, twenty dollars above the opeet price.
At the conclusion of the above sale, a piece. of Crown land, it Peng Chau Island, near Lai- tau, New Territory, and measuring about forty- five acres, was the next to be put up for sale. This was secured by Mr. P. W, Goldring, of Messrs. Brutton, Helt and Goldring, for $1,820,
THE HONGKONG VOLUNTEER- RESERVE ASSOCIATION.
26th ult There was a very good attendance of team- bets at the 200 yards range at King's Park on Saturday and Sunday last, to take part in the closing shoots of February. Some very good shooting was done; Mr. J. C. Gow winning the "Pool" with a score of 67 from scratch.
Below are the principal scores;-
The orchestra was good (the Baluchis are always woo), the scenery was good, and the act ing generally was excellent, but the "play" was a very absurd conglomeration of impossible occurrences, while the thread taking the place of the plot was mere froth; The rame of the piece, Lady Madcap would lead the ordinary theatre-goer to expect some extraordinary acts ni frivolity, hoydenish tricks and escapades,
H. T. Richardson... 70 W. T. Fdwards... 6y c on the part of the heroise, but the reality
W. J. B.unders...... 70 S. A. Joseph....................... 6a $52,245.85 proved slightly different, and "Madcap"
was somewhat unjustly named. Still in | W. D. Braidwood,.. 69 W. Dobbs ................. 61 The reserve fund will then stand at the sub-
the hands of that old favourite, Miss Georgie Allen
68. C. Glover.......... 6t stantial figure of $88,coo
Corlass, the most was made of the title J. C, Gow, scr...... 67. Whittall role, and a very attractive Lady Betty" D. J. Mckenzie 67 1. M. Henderson... was presented by her spirited acting, singing | A. Úlowey....... 67 P. L. Miller....................... and dancing. The thread, a very cobwebby Dr. Maclaiune...... 67 E. W. Tendy ...... thread, has been already described, and we can
J. N. Janes ... 67. G.Richardson...... 60 only say that when the certain rose on Saturday W. H. T. Davies... 66) Mclanes
T. P. Coclirane............. 6. ↑ PJ Wodehouse, night we were very glad to welcome some very old favourites who have made innumerable
-6; J.J.Stubbing....... appearances on the Hongkong, theatrical J. McCubbin.....
VG. Humphreys.. 6 C. . W. Kew...... Misses boards, notably, besides the heroine in he play, Miss Georgie Corlass, were
Sie F. T. Piggoti... '64° J. II: Underwood..." Nora Morra, Wilmot Karkeek, and Blanche
E. J. 1 bilpotis... 64 J. M. Hersion.... Forsythe, and Messrs. Duncan Muaro, W, Mckay........... 64 E. A. Hewelt quite a Far Eastern veteran, Harry Cole, R. H. King 64 A. S. Gubbay ..... the inimitable, Mark Lester, W Baker J. T. Douglas..... 64 W. M. Stewart......
The new issue was all taken up, and all shares will from now on rank same for dividend.
During the first half of the year work was, $31,807.92 scarce, but the latter half the duck has been well employed and there is every reason to look for gond and profitable work in the future,
Getteral Manager. Mr. R. H. Bruce resign. 1,8-7.92ed on leaving the part, and Mr. F. B. Marshall
was invited to fill the post.
Consulting Committeelu accordance with 30,000.00 | the articles of association the present members
Messrs, A. F. Gardiner and W. Kruse retire $31,807.93 but being eligible offer themselves for re-sicc- Auditors. The accounts have been audited
the half-year... $48,000.00 To transfer to repairs and renewals
account............. 10,000.00 ity amount transferred from profit
By balance from last account.$ To write off from value of electric
and Ings account, as recommended 6,62051 plant
in last report 6 9 89 To carry forward to new account......
$65,349 40
BUSINESS.
Bar custom shows a heavy falling off; and is solely responsible for the decrease in receipts. Other sources of revenue have been well main- tained.
HOTEL MANSION,
HONGKONG-FIKE INSURANCE CO, LU.
The report for presentation to the share holders at the thirty-seventh ordinary general
This building was completed on 16th August, meeting, to be held at the offices of the gene- ral managers, on Wednesday, ike 7th prox., at 13 o'clock noon, is an follows:-
by some $150,000, mostly for the new Yangisze 1905.· steamer now building and other contracts. Gentlemen, with nothing further to remark, before moving the adoption of the report and accounts as presented, I shall be pleased to -answer to the best of my ability any`qjestinat
you may have to put
DIRECTORS.
The general managers and consulting com- Mr. W. II Polts retires by rotation, but offers mittee have pleasure in submitting to the share himself for re-elec jon.
holders the thirty-seventh annual report of the company.
AUDIT.
The accounts have been audited by MessTS. Mr. Michael-I have a few important ques H. U. Jeffries and A. R. Lowe, C. A., who offer tions to put, but I do not think it is pulitic | themselves for re-election.
to pat them at this meeting, especially seeing
that they would be liable to publication, and
I will content myself with making a few re
marks,
འ་
The Chair.Asu~} think we should put the report and accounts to the meeting first. Any
questions I should be pleased to auswer,
EDWARD OSBORNE,
*airman.
BALANCE SHEET.
31st December, 19 5.
Liabilities.
12,000 shares at $50 each (fully
paid up)....... 1,000 mortgage de..
bentures (6 per ceni.).............. $500,000.00 Less 16 mortgage
held by the com paky...... 108,000,00
Resorve fund.
Mr. Michael-Quexilons may arise'ss the | Capital- result of my ramarks. I think there can be no harm if 1 proceed. It is needless to say the result of 'the past hall-year's working i is a great disappointment. One shudders to think what would now have been our position had the construction of the expensive New Dack bren sanctioned, which was so urgently, pressed upon the favourable consideration, of Shareholders not long ago. We have fallen upon bad times; but I am to some extent dis posed to look upon this as a blessing in dia. | Sundry creditors ....................................... guise, inasmuch as it is, perhaps, only natural | Unclaimed dividends ...............
bat, during a succession of good years, nu is | Hongkong and Shanghai Banking: Hlable to become over-confident and get rather Corporation (current account)
1904 Account. This Account shows a profit of $210,417.66 which sum, subject to the ap- proval of the shareholders, it is proposed to deal with as follows, viz. :-
Dividend of $15 per share,.....S100,pea.co Addition to reserve fund,
20,417.65
$220,417.66
1905 Account.-The balance at credit of this scount is $432,618.04.
tion.
59
by Measts, A. G. L. Renny and J. S. Fenwick Dean Percival, Henry Vincent, Percy Haydn, S. H. Michael... 64 A. G. Newingten....
4. E. Rees, Spencer Trevor, Will Smith and J. H.Iidgeon, scr., 63 Hon. G. Stewart.. R. St. George, who were all in their usual form | UK. Hxion..... 63. B. Brooks... and helped to make the absurduties go with a. C. l'es 63 W. Dinie! .......... 55 Ewing, while Mr. Ernest Altwell did good work. W Wait 63 L. Gibbs...... as the Count de St. Hubert, teminding us very | H. W, Faer 63 W. Goodfellow ...
... Sz much of the "real article.""
Dr. W. B., Moore 63. L.. G. Bird ... sa 62 G, H, Wakeman... 51 J. Beningdes... A. Muir....... ... 61 E. Evan Jones..... I
WORKING ACCOUNT. December 31st, 1975. Dr.
To Salarica-Amount paid during
the year
our 4648kydər .......... $1,100.00 4.872.89
n
Interest Interests on overdrafts Charges General
Mortgages. From the reports and valuations made by the company's surveyors, the general $600,000.0> managers and consulting committee are satis. By
charges and expenses during the year .........$1,475.17
Plus-Auditors' fee.
200.00
Ground Rent-Amount paid
during the year ................................. Property Repairs-Sundry ro
pairs to property ... Balance-Being profit on the
working of the year ....
Cr.
Earnings-Nest earnings at the
dock during the year .....
To-night "Aladdin, and his wonderful lamp" will be staged for this one occasion and should draw as good a house as did Baturday's perform. ance which is saying a good deal, as when the curtain rose on the "Madcap" on that night, the usual quarter of an hour late, there was scarcely a vacant seat in the whole auditorium, and those 1,675.17 occupied accommodated a most apprecative
audience. 37.40 There is one little matter that by no means appeals to a Hongkong audience, and that is, 120.53 instead of finding the programme of the play as usual on the chair reserved for
SHANGHANS BUDGET.
The Municipal Council bas issued an ad. vance copy of the Estimates for i9o6. The ordinary expenditure for the year is estimated at Tls. 1,774,000, a surplus of Tis. 263,000 is expected," "This surplus with the surplus from 1905, some Tis, aso,cos, is corried to extraer
incoms: but as the extraordinary, ex-
22,506.6x one's use. one has to fly aborter the endure is estimated at Tis. 529,00,000-80
one, and it is only obtainabia after the $40,31261 play has begun and the lights gone down, that we have reached the two-million-taol and then only at a price. On Saturday, look mark, there will be a deficit at the end of 1906. ing at the programines, when at last obtained, of Tls. 47,50 The Budget also contains store $40.312.61 ans bad to pause and consider just where one fing extraordinary income and expenditure, but was, for these documents announced the per- they do not require commentat present. There. is to be no change in taxation proposed, so that $10,312.6 formence as taking place in another Colony.
there is nothing sensational in the Budget, and Tux Military. Governor of Heilungkiang has the proposed increase in the Indian branch, of telegraphed to the Waiwupu that the Chinese the Police Forca will only call for a sum of Tls. of Eastern Railway Company has forcibly pur. 30,000 this year. The most interesting part chased a large parcel of ground from natives of this pamphlet is the section headed Extraor Utga, and it must be redeemed by some means diary Expenditure. There is a long record $47.361 68 or other. The Waiwaps, acting on the above of work to be done during the year, work that Plant and machinery-Dalanco ·
advice, has begun to confer with the Russian myej bo dong, andátill leaving much to be done
in succeeding year—& C&D, "Now, . 61,grosg| Minister on the matter. (par fast-statement«muni
STATEMENT OF ASSETS AND LIABILITIES. Dr.
fied that the properties held by the Company form ample security for the advances made.
Consulting Committee. In accordance with section is of the articles of atrociation, the present members of the committee the Hon. Sir Paul Chater, C.M.G., Messrs White, Maitland To 392,000.00 and Raymond retire but being eligible offer 648,975.78 themselves for re-election,
45,637.81 Auditor. The accounts have been audited 1,695.00 by Mesara. W. H. Poils and T. Arnold and their re-election as auditor of the company is #5,588,17 recommended.
"
Amoy Dock Balance.
per last statement 547,267 68
Plús-Additions .....
95.co during the year smussar