27983-1912-Supplementary-Advertisements — Page 1

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IN THE SUPREME COURT OF HONGKONG,

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In the Matter of the Estate of NABOB KITCHEN DAVIDSON late of A. S. Watson and Co., Ld., of Victoria in the Colony of Hong- kong, deceased.

TOTICE is hereby given that the Court has, by virtue of Section 58 of The Probates Ordinance 1897 (No. 2 of 1897), made an order limiting the time for sending in claims to or against the above estate to the 31st day of Angust, 1912.

Creditors and claimants are hereby required to send their claims to the undersigned by the above date.

Dated this 1st day of August, 1912.

J. A. TARRANT, Executor,

care of A. S. Watson and Co., Ld., Hongkong.

ABSTRACT OF ASSETS & LIABILITIES, HONGKONG & SHANGHAI BANK- ING CORPORATION, 30th June, 1912.

GENERAL PROFIT AND LOSS ACCOUNT, HONGKONG, & SHANGHAI BANKING CORPORATION,

LIABILITIES.

Paid-up Capital.........

..$15,000,000.00

15,000,000.00 16.750.000.00 250,000.00

31

Sterling Reserve Fund, £1,500,000

@ex. 2/-......

Silver Reserve Fund,.

Marine Insurance Account, Notes in Circulation :---

(Authorised Is- against

£ue

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

Dr.

30th June, 1912.

To AMOUNTS WRITTEN OFF :---

Remuneration to Directors,..$

DIVIDEND ACCOUNT:—

Dividend £2 per Share on 120,000 Shares= £240,000 at 20-

15

15,000.00

2,393,766.24

TRANSFER to Silver Reserve

Fund,..

250,000.00

TRANSFER to Bank Premi-

";

ses Account,

250,000.00

至少

BALANCE forward to next

half-year,

1,960,288.64

$4,869,054.88

HONGKONG AND SHANGHAI BANKING CORPORATION.

NINETY-FOURTH

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 17th August, 1912, 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, 1912.

The net profits for that period, including $1,953,135.15, 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 $4,869,054.88.

The Directors recommend the transfer of $250,000 from the Profit and Loss Account to credit of the Silver Reserve Fund, which Fund will then stand at $17,000,000.

They also recommend writing off Bank Pre- mises Account the sum of $250,000.

After making these Transfers and deducting Remuneration to Directors there remains for appropriation $4,354,054.88, out of which the Directors recommend the payment of a Divi- dend of Two Pounds Sterling per Share, viz., £240,000, which at 2/0, the rate of the day, will absorb $2,393,766.24.

The Balance $1,960,288.64 to be carried to New Profit and Loss Account.

STERLING RESERVE FUND.

Consols has

The holding of £1,200,000 2 been written down by £24,000 to £900,000, and now stands in the books at 75; "Other Sterling Securities" have also been written down to the extent of about £9,500.

To effect these adjustments and maintain the Fund at £1,500,000, British and Indian Government guaranteed stocks to the face value of £41,500, costing £33,569. 1s. 3d., were purchased and added to "Other Sterling Secu- rities" bringing the amount under that head- ing to £406,500 written down to £335,400.

This expenditure was met out of the earnings of the half-year.

AUDITORS.

The accounts have been audited by Mr. W. HUTTON POTTS and Mr. J. W. C. BONNAR.

E. SHELLIM, Chairman.

Hongkong, 6th August, 1912,

lodged with

the Hongkong

Government, . 7,670,637.00

Or.

By Balance of Un- divided Profits,

-22,670,637.00

#1

Current Silver, $109,628,186.28 Accounts, Gold, £5,428,638.178.2d.-54,125,013.59

Fixed Silver, $73,783,667.39 Deposits. Gold; £4,411,433. 08. 9d.14,001,437.93

-163,753.499.87

-117,785,105,32

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

Acceptances on account of Con-

stituents,

Profit and Loss Account, Liability on Bills of Exchange re-discounted,

£8,519,188. 178. 2d. of which 26,466,023. 138. In have since run off.

Cash,.

ASSETS.

9,378,102.61

15,335,174.94 4,869,054.88

31st December, 1911,

Amount of Net Profits for the Six Months ending 30th June, 1912, after making provision for

bad and doubt- ful debts deducting all Expenses and Interest and due,.

paid

.$1,953,135,15

2,915,919.73

-$4,869,054.88

$4,869,054.88

STERLING RESERVE FUND.

$380,791,574.62

To Balance, £1,500,000 @ ex. 2/-$15,000,000.00 (invested in Sterling Securities).

$15,000,000.00

$48,691,483.33

By Balance 31st December, 1911,

£1,500,000 at ex. 2-

...$15,000,000.00

$15,000,000,00

14,000,000.00

Coin lodged with the Hongkong Government against authoris- ed and/or excess note circula- tion, Bullion in Hand and in Transit, IndianGovernment Rupee Paper, Colonial and other Securities,... 13,872,966.79 Sterling Reserve Fund Invest-

ments, viz. :—

£1,200,000 2

per cent.

Consols at 75, £900,000 (of which

£250,000 lodged with the Bank of England as a Special London Reserve). £270,000 3

per cent. Exchequer

Bonds due 1915 at 98,... £406,500 Other

Sterling Securities, written

261.600

down to ..... 335,100

6,636,697,80 1,367,949.12

£1,500,000 @ ex. 2/- 15,000,000.00

Bills Discounted, Loans and

Credits,.....

Bills Receivable, Liabilities of Constituents for

acceptances, per contra, Bank Premises,..

140,334,299.76 123,382,046.22

15,335,174.94 2,170,986,66

$380,791,574.62

---་--་

SILVER RESERVE FUND.

To Balance,...................

$17,000,000.00

$17,000,000.00

By Balance 51st December, 1911, $16,750,000.00

Transfer from Profit and Loss

Account,..

250,000.00

$17,000,000.00

N. J. STABB, Chief Manager.

R. EDWARDS, Chief Accountant.

E. SHELLIM,

F. H. ARMSTRONG, G. FRIESLAND,

Directors.

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, J. W. C. BONNAR,

Hongkong, 6th August, 1912,

Auditors,