22832-1911-Supplementary-Advertisements — Page 2

509

NOTICE.

Nigel has on the 29th day of July.

ICE is hereby given that the under-

1911, retired from the business of the Wo YUEN TONG() of No. 71, Queen's Road West, Victoria, Hongkong, Druggists and Money Changers, and that since the said 29th day of July. 1911, he will be no longer interested in or responsible for the liabilities of the said business.

Datel the 30th day of July, 1911,

CHEONG CHI TING.

(張)

HONGKONG AND SHANGHAL BANKING CORPORATION.

NINETY-SECOND

REPORT OF THE COURT OF DIRECTORS

TO THE

ORDINARY HALF-YEARLY GENERAL MEETING

OF

SHAREHOLDERS

TO BE HELD

AT THE CITY HALL, HONGKONG,

ON

Saturday, the 19th August, 1911, AT NOON.

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 Bank. and Balance Sheet for the half-year ending 30th June, 1911.

The net profits for that period. including $2.039,151.91, balance brought forward from last account, after paying all charges, deduct- ing interest paid and due, and making provi- sion for bad and doubtful accounts, amount to $5.232,844,16.

The Directors recommend the transfer of $500,000 from the Profit and Loss Account to credit of the Silver Reserve Fund, which Fund will then stand at $16,750,000.

After making this Transfer and dedneting Remuneration to Directors there remains for appropriation $4,717,844,16), out of which the Directors recommend the payment of a Divi- dend of Two Pounds Sterling per Share, viz.: £240,000 which at 193, the rate of the day. will absorb $2,679.069.77,

The Balance $2.038,774.39 to be married to New Profit and Loss Account.

DIRECTORS.

Mr. S. A. LEVY and Mr. W. Logax having : resigned their seats. Mr. C. S. GUBBAY and Mr. E. SHELLIM, have been invited to fill the vacancies.

Mr. HENRY KESWICK, the Chairman, who has been absent on leave, has resigned his seat | as he is not returning to the Colony, The Hon. Mr. C. H. Ross has been invited to join the Board.

The above appointments require confirma- tion at this mecting.

Mr. G. H. MEDHURST has been elected Chairman for the remainder of the year and Mr. E. SHELLIM, Deputy Chairman.

AUDITORS.

The accounts have been andited by Mr. W. HUTTON POTTS and Mr., GORDON MACKIE, the latter acting for Mr. J. W. C. BONNAR, who is absent from the Colony.

G. H. MEDHURST, Chairman,

Hongkong, 8th August, 1911.

ABSTRACT OF ASSETS & LIABILITIES,

HONGKONG & SHANGHAI BANK- ING CORPORATION.

30th June, 1911.

LIABILITIES.

Paid-up Capital............................ Sterling Reserve Fund, £1,500,000

@@ cx. 2.

Silver Reserve Fund...... Marine Insurance Account,. Notes in Cirenlation ---

(Authorised Is-

11 against Securities and Coin deposit- ed with the Crown Agents for the Colon- ies and their

Trustees.) ...$15,000,000,00 Additional Issue

authorised by

Hongkong Ordinances

against Coin

lodged with the ongkong

Government,. 2,706,0xd.cm

Current | Silver,$109,404,599,83 Accounts, Gold,

£4.157.404.98.12. =46,158,88180

$15,000,000,00

15,000,000.00 16,250,000,00

250,000,00

17.766.976.00

-155,058,181.63

Fixed Silver, $64.239,089.78 Deposits, Gold,

€4,640,181.13x.3.=51,508,863.41

-115.717.953.19

Bills Payable (including Drafts on London Bankers, Cull Loans and Short Sight Drawings on London Office against Bills Receivable and Bullion Ship- ments).

Profit and Loss Account, Liability on Bills of Exchange re-disconated, £7,217.305. He, 2 of which £5,768,791, 19. %. have since run

T.

ASSETS.

18.285.878.92 5.232.841.16

$359,126,243.90

GENERAL PROFIT AND LOSS ACCOUNT.

HONGKONG & SHANGHAI BANKING CORPORATION,

Dr.

30th June, 1911.

To AMOUNTS WRITTEN OFF. Remuneration to Directors...$ DIVIDEND ACCOUNT:-

£2 per Share

on 120.000

Shares=

#210,000 at

1/93=

TRANSFER TO SILVER

RESERVE FUND...

15,000,0

$2.679,069.77

500,000,00

BALANCE forward to next

half-year.

2,038,774.39

$5,232,844.16

dr.

By Balance of Un-

divided Profits,

31st December, 1910. Amount of Net Profits for the Six Months ending 30th June, 1911, after making provision for bad and doubt- ful debrs. deducting all Expenses and Interest paid and due,

..$2,039.1510

3.193.692.25

$5,232,844,16

$5,232,844.16

STERLING RESERVE FUND,

To Balance, £1,500,000 @ ex. 2)-$15,000,000,00 (invested in Sterling Securitieši,

. $19,366,556,24

By Balance 31st December.

Cash.... Coin lodged with the Hongkong Government against authoris- ed and/or excess note circula- tion.

9,000,000.00 Bullion in Hand and in Transit. 15.744.196.19 IndianGovernment Rupee Paper, 1,367.919.12 Consols, Colonial and other

Securities,

STERLING RESERVE FUND INVESTMENTS, viz. :- €1,200,000 24

per cent.

Consols a! 79, CU48,000 (of which

£250.000

lodged with the Bank of Englund as a Special London Reserve). £270,000 3

per cent.

Exchequer Bonds due 1915 at 98.... €340,000 Other

Sterling Securities, written down to

264,000

287,400

11.412.907.28

£1,500,000 @ ex. 2, - 15,000,000,00

Bills Discounted, Loans and

Credits, Bills Receivable, Bank Premises....

125,338,368.48 129,995,705.91 1,900,590,68

$359,126,243,90

$16,000,000,00

1910, £1,500,000 at ex. 2-$15,000,000,00

$15,000,000,00

SILVER RESERVE FUND.

To Balance..

$14,750,000,00

$ 16,770,000.00

.$16.250.000.00

By Balance 31st Dec.. 191.

Transfer from Profit & Loss

Account,

300,000,00

$14,750,000,00

N. J. STABB. Chief Managır.

R. EDWARDS, Chef Arenuntant,

G. 11. MEDHURST. E. SHELLIM. F. LIEB.

A

Dirret vs.

We have compared the above Statement with the Books, Vouchers and Securities at the Head Office, and with the Returns from the various Branches and Agencies, and have found the same to be correct.

W. HUTTON POTTS. C. GORDON MACKIE,!

Hongkong, 8th August, 1911.

Amito-s.