48524-1916-Supplementary-Advertisements — Page 1

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IN THE SUPREME COURT OF HONGKONG.

IN BANKRUPTCY.

Notice of Intended Dividend,

No. S of 1915.

Re CHIU TSZ MING, lately trading as the YCK WA and the YUK WA CHAN, at No. 134, Wing Lok Street, at No. 40, Des Voeux Road West, Victoria, in the Colony of Hongkong.

first dividend is intended to be declared in the above matter after the expiration of one month from the 12th day of February, 1916.

Dated this 11th day of February, 1916.

45

DIRECTORS.

Mr. W. L. PATTENDEN has been elected Chairman for the year 1916. and Mr. STANLEY H. DODWELL Deputy Chairman.

The Honourable Mr. P. H. HOLYOAK and the Honourable Mr. DAVID LANDALE retire in rotation but being eligible for re-election, offer themselves accordingly.

AUDITORS.

The accounts have been audited by Mr. J. W. C. BONNAR and Mr. F. MAITLAND who offer themselves for re-election.

DAVID LAN DALE, Chairman.

Hongkong, 8th February, 1916.

ABSTRACT OF ASSETS & LIABILITIES HONGKONG & SHANGHAI BANK-

ING CORPORATION, 31st December, 1915.

GENERAL PROFIT & LOSS ACCOUNT, HONGKONG & SHANGHAI BANK- ING CORPORATION,

Dr.

31st December, 1915.

To INTERIM DIVIDEND :-

Paid on 16th August 1915 £2.3-per Share on 120,000 Shares = £258,000 1/9.5=

11

..$2,905,337.24/

30,000.00

AMOUNTS WRITTEN OFF :- Remuneration to Directors...

FINAL DIVIDEND:-

£2.3/-per Share

on 120,000 Shares £258,000 at 1/11=

Bonus of 5/- per

Share on

$2,692, 173.91

120,000 Shares

-£30,000 at

1/11-

313,043,48

3 005,217.39

TRANSFER to Bank Premi-

BALANCE forward to next

3,027,219.89

500,000.00

E. CARPMAEL,

Official Receiver.

LIABILITIES.

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

..$15,000,000.00

11

Sterling Reserve Fund, £1,500,000

ses Account,...

15,000,000.00

15

18,000,000.00

year,

250,000.00

HONGKONG & SHANGHAI BANK-

ING CORPORATION.

ONE HUNDREDTH

REPORT OF THE COURT OF DIRECTORS

TO THE

ORDINARY YEARLY GENERAL MEETING

OF

SHAREHOLDERS

TO BE HELD

AT THE CITY HALL, HONGKONG,

ON

Saturday, the 19th February, 1916, 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 year ending 31st December, 1915.

The net profits for that period, including $2,607,274.51, 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 and contingencies, amount' to $9,467,774.52.

The Directors recommend writing off Bank Premises Account the sum of $500,000.

After making this transfer, deducting the Interim Dividend of £2.3/- per share, paid on 16th August last, viz., £258,000 @ 1/9% = $2,905,337.24, and Remuneration to Directors, there remains for appropriation $6,032,437.28, out of which the Directors recommend the payment of a Final Dividend of Two Pounds and Three Shillings Sterling per Share, viz., £258,000, and a Bonus of Five Shillings Ster- ling per Share, viz.; £30,000 amounting in all to £288,000 which at 1/11, the rate of the day. will absorb $3,005,217,39,

The Balance $3,027,219.89 to be carried to -New Profit and Loss Account.

STERLING RESERVE FUND.

The former holding of Consols was disposed of and the various other Securities transferred out of this account. The Sterling Reserve Fund Investments now consist of £1,500,000 41% British War Loan standing in the Books

at par.

The cost of effecting this change in the Securities amounted to £70,629, which was met out of the earnings of the year.

BRANCHES AND AGENCIES.

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

@ ex. 2/-..

Silver Reserve Fund,.

Marine Insurance Account, Notes in Cirenlation :-

(Authorised Is-

sue 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 longkong

Government,. 10,562,488.00

-25,562,488.00

Current Silver, $159,885,812.34 Accounts, Gold.

£5,193,511. 128. 3d.=53,713,696.30

-213,599,508.64

Fixed Silver, $69,320,619.50 Deposits, Gold, £4,506,888, 0s. 9d.— 46,750,470.35

Bills Payable (in. cluding Call Loans and Short Sight Drawings on London Office against Bills Receivable and Bullion Ship- ments),

Drafts on London

Bankers,

-116,071,089.85

.$18,407,183.64

2,535,753.52

Acceptances on account of Con-

stituents.

Profit and Loss Account, Liability on Bills of Exchange re-discounted, £7,145,352. 198. Od. of which £5,713,010. 148. 3d. have since run off.

ASSETS.

Cr.

By Balance of Un-

divided Profits,

31st Dec., 1914..$2,607,274.51

Amount of Net Profits for the Year ending31st December, 1915, after making provision for bad and doubt- ful debts and contingencies, deducting all Expenses and Interest paid and due,

$9,467,774.52

6,860,500,01

-$9,467,774,52

$9,467,774.52

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

Cr.

$15,000,000.00

By Balance 31st December, 1914,

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

$15,000,000.00

Dr.

SILVER RESERVE FUND.

To Balance............

- 20,942,937.16

$18,000,000.00

$18,000,000.00

5.172.674.77 6,562,437.28

$436,161,135.70

Cash,. Coin lodged with the Hongkong Government against authoris- ed and/or excess note circula- tion, Bullion in Hand and in Transit, IndianGovernment Rupee Paper, British Government, Colonial

and other Securities,. Sterling Reserve Fund Invest-

ments, viz. :-

$75,508,188.99

15,500,000.00 8,852,308.98 1,045,015.12

23,952,689.70

£1,500,000 44% War. Loan

1925/45 @par ex. 2/-,.... 15,000,000.00 Bills Discounted, Loans and

Credits,

Bills Receivable,

Liabilities of Constituents for

acceptances, per contra, Bank Premises........

133,484,086.98 150,663,517.66

5,172,674.77 6,987,653.50

$436,161,135.70

Cr.

By Balance 31st December, 1914, $18,000,000.00

$18,000,000,00

N. J. STABB, Chief Manager.

H. C. SANDFORD,

Acting Chief Accountant.

DAVID LANDALE, W. L. PATTENDEN, G. T. EDKINS,

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, (with the exception of the Hamburg Office from which no statement of Accounts has been received since 1914) and have found the same to be

correct.

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

Hongkong, 8th February, 1916.