PUBLIC RECORD OFFICE
Reference :---
C.O. 882
8PUBLIC RECORD OFFICE, LONDON
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH-NOT TO
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leased to the Tanjong Pagar Dock Company from the 1st July, 1889, and from that date was worked by the Tanjong Pagar Dock Company in conjunction with the New Harbour Dock. The Tanjong Pagar Dock Company gradually purchased the shares, and in 1899 the whole of the undertaking was acquired by them, and has since been worked as part of the Tanjong Pagar Dock Company's business.
On the 31st December, 1889, the final instalment of the Borneo Company's New Harbour property was raid, amounting to $173,399.46.
The total amount paid for this property was $1,099,416.28.
During the year it was decided by the Directors, after consultation with the London Consulting Committee, to apply to the Legislative Council for an Ordi- nance, amending the Memorandum of Association of the Company, and extending their powers.
This year also a dividend of 10 per cent. was paid.
On the 15th March, 1890, one thousand new shares were advertised for allot- 1890. ment, and were all issued at 80 per cent. premium, the share capital of the Company being thus raised to $1,500,000.
At an extraordinary meeting of the shareholders, held on the 17th July, 1890, Extension it was resolved to apply for the bill for the extension of the Memorandum of Asso- of Memo- ciation referred to, and this resolution was confirmed on the 7th August. The bill randum was passed on the 30th October. The preamble is as follows:-
"
Whereas the Tanjong Pagar Dock Company, Limited (hereinafter referred to as the Company') was established pursuant to Indian Act XIX. of 1857, in- tituled 'An Act for the incorporation of Joint Stock Companies or other Associa- tions either with or without limited liability of the members thereof, under a Memorandum of Association, dated the 27th of September, 1864. And whereas by Clause III. of the said Memorandum, the objects for which the Company was estab-. lished were defined to be as follows (namely) the construction, maintenance and employment of docks, wharves, warehouses, and other accommodation necessary for the repairing and building of ships and the dealing in all stores, goods, and mer- chandize connected therewith, for the landing, shipping, and storing of goods and merchandize, the purchase and sale of ships, and the doing all such other things as are incidental or conducive to the attainments of the above objects. And whereas doubts have arisen whether the said objects authorise certain transactions in which the Company has engaged, and in particular the holding of land and laying out of the same for building purposes, the taking a lease of the New Prye River Dock Company's works and premises, situate in Province Wellesley, and the working of the same in conjunction with the New Harbour Dock Company, Limited, and also the carrying on of the business of the machine shops at Singapore of the Company on a joint purse system with the said New Harbour Dock Company, Limited. And whereas it is expedient that the said Memorandum should be amended so as to include the said matters and also to enable the Company, either alone or in con- junction with another Company or other Companies to purchase the undertaking of the Singapore Tramway Company, Limited, and to work or lease the same, and so as to give the Company power to issue preference shares and extended powers in other respects. And whereas it is also expedient to validate such past transactions of the Company as would have been valid, had this Ordinance been passed previous to such transactions. And whereas this cannot be effected without the authority of the Legislative Council, it is hereby enacted.
The purchase of the Borneo Company's property was this year apportioned under various headings and the accounts in consequence showed much larger figures.
A dividend of 10 per cent. for the year was paid.
of Associa tion.
In 1891, the nett profits being $104,485.57 for the first half-year and $72,130.54 1891.
for the second half-year, a dividend of 10 per cent. was paid.
A sum of $36,924.48 was transferred to the wharf renewal fund from the profit and loss account to meet an expenditure of this amount incurred upon reclamations and extensions paid for out of the wharf renewal fund.
In the year 1892 a dividend of 10 per cent. was again paid.
1892.