38580-1914-Supplementary-Advertisements — Page 1

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N

In the Matter of the Companies

Ordinances, 1911 and 1913

and

In the Matter of the ROYAL AERATED WATERS MANUFACTORY COM- PANT. LIMITED,

(In Liquidation.)

OTICE is hereby given in pursuance of Section 18% of the Companies' Orli- nances, 1911 and 913, that a General Meeting of the Members the above-named Company will be held at te Ofiers of Messis. PERCY SMITH, SETH & FLEMING. No. 5, Queen's Goad Cntral, fist floor, on Naurday, the 19th day of Septemb. 1914, at 12 oblock noon, for the purpose of having an Account laid before them, showing teg tare in which the winding-up has been conducted, and the pro- perty of the Company disposed of, and of hearing any explanations that may be given by the Liquidator, and also of determining by extraordinary resolution the manner in which the Books, Accounts, and focuments of the Company, and of the Liquidator thereof, shall be disposed of.

Dated at Hongkong, the 14th day of August,

1911.

J. HENNESSEY SETH, Liquidator.

HONGKONG AND SHANGHAI

BANKING

CORPORATION.

NINETY-EIGHTH

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 22nd August, 1914, AT NOON,

To the Proprietors of the

HONGKONG SHANGHAI BANKING CORPORATION.

GENTLEMEN,

The motors 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, 1914.

The net profits for that perio:, including $2,007,B11.85, buladice brought forward from last account, after paying all ebarges, deduct- ing interest paid and due, and making provi- sion for bad and doubtful accounts and contingencies, amount to $5,590,804 02.

The Directors recommend the transfer of $350,030 Irwan the Profit and Loss Account to credit of the Silver Reserve Fund, which Wund will then stand at $18,000,000.

They also recommend writing off Bank Pre- mises Account the sum of $400,000.

After making these Transfers and deducting Remuneration to Directors there remains for appropriation $4,825,804.02, out of which the Directors recommend the payment of a Divi- dend of Two Pounds and Three Shillings Sterling per Share, subject to Income Tax, viz., £258,000, which at 1/10, the rate of the day, will absorb $2,736,795.58.

The Balance $2,081,008.44 to be carried to New Profit and Loss Account.

BRANCHES AND AGENCIES.

A Branch Office of the Bank has been opened at Tsingtau.

DIRECTORS.

The Directors very much regret to have to record the death of their colleague Mr. G. FRIESLAND last March, Mr. E. GOETZ having resigned his seat on leaving the Colony, Mr. AD. WIDMANN and Mr. F. LIFB were invited to fill these two vacancies. Both these gentlemen as well as Mr. H. A. SIEBS and Mr. C. LANDGRAF have since resigued. Mr. G. T. MOKINS has been invited to join the Board. This appointment requires con- firmation at this Meeting.

AUDITORS.

The accounts have been audited by Mr. J. W. C. BONNAR and Mr. F. MAITLAND.

DAVID LANDALE,

Chairman.

Hongkong, 11th August, 1914.

ABSTRACT OF ASSETS & LIABILITIES,

HONGKONG & SHANGHAI BANK- ING CORPORATION, 30th June, 1914.

LIABILITIES.

Paid-up Capital...

..$15,000,000.00

15,000,000.00 17,650,000.00

Sterling Reserve Fund, £1,600,000

@ ex.

-.

Silver Reserve Fund,..

Marine Insumance Account, Notes in Cirenlation :-

(Authorised Is-

GENERAL PROFIT AND LOSS ACCOUNT, HONGKONG & SHANGHAI BANK. ING CORPORATION,

Dr.

30th June, 1914.

250,000.00

To AMOUNTS WRITTEN OFF:-

Remuneration to Directors... $15,000,00

DIVIDEND ACCOUNT :-

Dividend £2.31-

on 120,000

per Share

Shares

£258,000 at

2,736,795,58

"

TEANSFER to Silver Reserve

Fund...

350,000.00

TRANSFER to Bank Premi-

"

ses Account,

400,000.00

...$15,000,000,00

19

BALANCE forward to next

half-year,

2.089,008.44

$5,590,804.02

suc against Securities and Coin deposit- ed with the Crown Agents for the Colon- ies and their Tra- tees,) Additional Issue authorised by Hongkong Ordinances against Coin. lodged with the Hongkong

Government, 7,497,761.00

-22,497,761,00

Current Silver, $125.174,943.10 Accounts. Gold, £5,896,583. 11s. 4.-61,406,150,63

-186,581,093.73

Fixed Silver, $77,594,188.06 Deposits, Gold, £4,710,415. 48. 11d.=49,054,345.02

Bills Payable (including Call Loans and Short Sight Draw- ings on London Office against Bills Receivable and Bullion Shipments), ......$ 7,432,692,15 Drafts on London

Bankers,

9,194,229.89

126,648,533.08

Cr.

By Balance of Un-

#1

divided Profits,

31st December, 1913.

Amount of Net Profits for the Six Months ending 30th June, 1914, after making provision for bad and doubt- ful debts and contingencies, deducting all Expenses and Interest paid and due,

16,626,922.04

Acceptances on account of Con-

stitucnis,

Profit and Loss Accrnt. Liability on Bills of Exchange re-discountet,

£10,442,661. Is, d of which £7,901,003. 16s. 10. have since run ofi.

13,927,799.80 5,590,804.02

Dr.

$419,772,913.67

Cash.

ASSETS.

$61,550,501.67

Coin lodged with the Hongkong Government az inst authoris- ed and/or excess note circula- tion, Bullion in Hond and in Transit, IndianGovernment Rupee Paper, Colonial card other Securities,... 12,498,691.17 Sterling Reserve Fund Invest-

ments. c12, 1-

£1,200,000 2

per cent.'

Consols at 71, £852,000 (of which £250,000 lodged with the Bank of England as a Special London Reserve), £330,000 3

per cent. Exchequer

Bonds due

1930 at 93.... 306,900 £431,500 Other

Sterling Securities, written down to...

15,500,000.00 3,403,173.85 1.367,919.12

341,100

£1,500,000 @ ex. 2/-, 15,000,000.00

Bills Discounted, Loans and

Credits.

Bills liceivable, Liabilities of Constituents for

acceptances, per contra, Bank Premises,...

146.939.372.76 142,218,166.01

13,927,799.80 7,367,349.29

$419,772,913.67

$2,067,311.85

3,523,492.17

-$5,590,804.02

$5,590,804.02

STERLING RESERVE FUND.

To Balance, £1,500,000 @ex. 2/-,315,000,000.00 (invested in Sterling Securities).

Cr.

By Balance Bist Dec., 1913,

$15,000,000.00

£1,500,000 @ ex. 2/-,.....$15,000,000.00

$15,000,000,00

Dr.

SILVER. RESERVE FUND.

To Balance,.

$18,000,000.00

$18,000,000.00

Cr.

By Balance 31st Dec., 1913,

Transfer from Profit and Loss

Account...

$17,650,000.00

350,000.00

$18,000,000.00

A. STEPHEN, Acting Chief Manager.

A. C. HYNES, Acting Chief Accountant.

DAVID LANDALE,

W. L. PATTENDEN. C. S. GUBBAY,

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.

J. W. C. BONNAR, F. MAITLAND,

Hongkong, 11th August, 1914.

Auditors.