No. $.O. N: 10:55. –
10th April, 1872
(Received 10th April, 1872)
The
Acting Attorney General (Honble. F. C. Wyllie)
to
Acting Colonial Secretary (Honble. Cecil C. Smith)
7/1872
Ordinance N. 1 of 1872
The Acting Attorney General's
report
HONGKONG & SHANGHAI BANKING CORPORATION.
THIRTEENTH
REPORT OF THE COURT OF DIRECTORS
TO THE
ORDINARY YEARLY MEETING OF SHAREHOLDERS
TO BE HELD AT THE CITY HALL, HONGKONG,
On Thursday, the 15th February, 1872.
To the Proprietors of the
HONGKONG & SHANGHAI BANKING CORPORATION.
GENTLEMEN,
The Directors have now to submit to you a General Statement of the affairs of the Corporation, and Balance Sheet for the half-year ending on 30th December last.
The net profits for that period, including $31,331.04 brought forward from last account, after paying all charges and deducting interest paid and due, and making full provision for all bad and doubtful debts, amount to $300,577.92, of which, after taking out Rebate on Bills not yet due, and Remuneration to Directors, there remains for appropriation $288,340.18.
From this sum, the Directors recommend the distribution of a Dividend of $7.50 per Share on the paid-up Shares, and of $6 per Share on the New Shares, being equivalent to six per cent for the half-year; this will absorb $270,000, and, of the Balance, the Directors propose carrying $100,000 to the Reserve Fund (thus raising it to $1,000,000) and $18,340.18 to the credit of New Profit and Loss Account.
If this appropriation of Profits be confirmed by the Meeting, the Shareholders will have received as Dividend for the year 1871, the sum of $510,000 (Twelve per cent on the paid-up Capital,) the Reserve Fund will have been increased by $200,000, leaving $18,340.18 of undivided profits to be carried forward.
The Proprietors may be congratulated on the continued prosperity of the Bank at all points. Its Deposits continue to increase and its business generally progresses successfully in proportion with the increase of its Paid-up Capital,
CALLS.
The fifth and last call of $25 per Share on the New Shares in the Capital of the Corporation will fall due on the 1st July next.
Indosure N. 3 in Governor Sir Arthur Kennedy's Despatch, No 4 of 17 April 1872
403
lo. $.O. N: 10:55. –
10% April, 1872
(Received 10th April, 1872)
The
Acting Attorney (Hanblo. F. Ca. Whyllar)
Attorney General
to
Acting Colonial Secretary Honble. Cecil C. Smith)
71872
Ordinance N. 1 of 187 2
The Acting Attorney General's
report
σου
>>
HONGKONG & SHANGHAI BANKING CORPORATION.
THIRTEENTH
REPORT OF THE COURT OF DIRECTORS
ΤΟ ΤΗΣ
ORDINARY TEARLY MEETING OF SHAREHOLDERS
TO BE HELD AT THE CITY HALL, HONGKONG,
On Thursday, the 15th February, 1872.
To the Proprietors of the
GENTLEMEN,
HONGKONG & SHANGHAI BANKING CORPORATION.
The Directors have now to submit to you a General Statement of the affairs of the Corporation, and Balance Sheet for the half-year ending on 30th December last.
The net profits for that period, including $31,331.04 brought forward from last account, after paying all charges and deducting interest paid and due, and making full provision for all bad and doubtful debts, amount to $300,577.92, of which, after taking out Rebate on Bills not yet due, and Remuneration to Directors, there remains for appropriation $388,340.18.
From this sum, the Directors recommend the distribution of a Dividend of $7.50 per Share on the paid-up Shares, and of $6 per Share on the New Shares, being equivalent to six per cent for the half-year; this will absorb $270,000, and, of the Balance, the Directors propose carrying $100,000 to the Reserve Fund (thus raising it to $1,000,000) and $18,340.18 to the credit of New Profit and Loss Account.
If this appropriation of Profits be confirmed by the Meeting, the Shareholders will have received as Dividend for the year 1871, the sum of $510,000 (Twelve per cent on the paid-up Capital,) the Reserve Fund will have been increased by $200,000, leaving $18,340.18 of undivided profits to be carried forward.
The Proprietors may be congratulated on the continued prosperity of the Bank at all points. Its Deposits continue to increase and its business generally progresses successfully in proportion with the increase of its Paid-up Capital,
CALLS.
The fifth and last call of $25 per Share on the New Shares in the Capital of the Corporation will fall due on the 1st July next.
Indosure N. 3 in Gaunor Sin Arihin Kennedy' Despatch. No 4 of 17 Apil 1872
403
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