58609-1918-Supplementary-Advertisements — Page 1

IN THE SUPREME COURT OF

HONGKONG.

ORIGINAL JURISDICTION.

Action No. 28 of 1918.

Between LAU CHU PAK Executor of the Will of TSANG YURT KAI, deceased...Plaintiff

LAI LOK TING

and

Defendant.

TUNG SHANG Wo, of No. 73, Des Voeux Road West, Victoria, Hongkong,

Garnishees.

NOTICE is hereby given that a Writ of

Foreign Attachment was issued herein on the 7th day of February, 1918, returnable on the 28th day of February, 1918.

Dated the 16th day of February, 1918.

LO & LO,

50

AUDITORS.

The Accounts have been audited by Mr. F. MAITLAND and Mr. E. A. M. WILLIAMS, who offer themselves for re-election.

STANLEY H. DODWELL, Chairman.

Hongkong, 13th February, 1918.

ABSTRACT OF ASSETS & LIABILITIES, HONGKONG & SHANGHAI BANK-

ING CORPORATION, 31st December, 1917.

GENERAL PROFIT & LOSS ACCOUNT, HONGKONG & SHANGHAI BANK- ING CORPORATION, 31st December, 1917.

Dr.

To INTERIM DIVIDEND :-

Paid on 13th August 1917 £2-3-per Share on 120,000 Shares £258,000 @ 2/64-

REMUNERATION TO

DIRECTORS.

FINAL DIVIDEND:-

22.3/-per Share

on 120,000 Shares £258,000 at 31- Bonus of £1 per

$1,720,000.00

.$2,046,942.15

30,000.00

Share оп

LIABILITIES.

120,000 Shares

Paid-up Capital,..

.$15,000,000.00

=£120,000 at

Solicitors for the Plaintiff.

Sterling Reserve Fund, £1,500,000

@ ex. 2/-,

3/-

800,000.00

15,000,000.00

2,520,000.00

Silver Reserve Fund,..

18,500,000.00

TRANSFER to Silver Reserve

Fund..

1,000,000.00

250,000.00

TRANSFER to Bank Premi-

ses Account,

1,000,000.00

"

BALANCE forward to next

year,

3,223,238.18

$ 9,820,180,33

HONGKONG & SHANGHAI BANK-

ING CORPORATION. ONE HUNDRED AND SECOND

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 23rd February, 1918, 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, 1917.

The net profits for that period, including $3,166,578.85, 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 $9,820,180.33.

The Directors recommend the transfer of $1,000,000 from the Profit and Loss Account to credit of the Silver Reserve Fund, which Fund will then stand at $19,500,000.

They also recommend writing off Bank Pre- mises Account the sum of $1,000,000.

After making these transfers, deducting the Interim Dividend of £2.3/- per share, paid on 13th August last. riz. *25×,00 @ 2/6 = $2,046,942.15, and Remuneration to Directors, there remains for appropriation $5,743,238.18, out of which the Directors recommend the payment of a Final Dividend of Two Pounds and Three Shillings Sterling per Share, riz. £258,000, and a Bonus of One Pound Ster- ling per Share, riz. £120,000 amounting in all to £378,000 which at 3, the rate of the day, will absorb $2,520,000.

The Balance $3,223,233.18 to be carried to New Profit and Loss Account.

DIRECTORS.

The Honourable Mr. P. H. HOLYOAK has been elected Chairman for the year 1918, and Mr. G. T. M. EDKINS Deputy Chairman.

The Honourable Mr. C. E. ANTON, the Honourable Mr. E. SHELLIM and Mr. J. A. PLUMMER having resigned their seats on leaving the Colony, the Honourable Mr. DAVID LANDALE, Mr. A. H. COMPTON, and Mr. F. C. BUTCHER were invited to fill the vacancies. These appointments require confirmation at this meeting.

Mr. STANLEY H. DODWELL and Mr. G. T. M. EDKINS retire in rotation, but being eligible for re-election, offer themselves accordingly.

Marine Insurance Account,...... Notes in Circulation :-

(Authorised Is-

sue against Securities and Coin deposit- ed with the Crown Agents for the Colon- ies and their Trustees,) Additional Issue authorised by Hongkong Ordinances against Coin

....$15,000,000.00

lodged with the Hongkong

Government, 9,920,907,00

·

-24,920,907.00

Current Silver, $187,443,396.68 Accounts, Gold,

£5,373,341, 158, Od.-35,723,210.35

-223,166,607.03

Fixed Silver,

$61,160,315.67

90,860,975,73

Deposits, Gold,

£4,468,454. 128. 3d.=29,700,660.06

Bills Payable (in-

cluding Call Loans and Short Sight Drawings London

on

Office), Drafts on London

Bankers,

.$17,049,392.55

333,669.62

Acceptances on account of Con-

stituents,

Profit and Loss Account, Liability on Bills of Exchange re-disconated, £8,6990715. 178. 5d. of whieh £6,419,800. 3s, 2d, have since run off.

ASSETS.

Cash including ($15,000,000 Coin lodged with the Hongkong Government against authoris- ed and/or excess note circula- tion).......

Cr.

By Balance of Un-

divided Profits,

31st Dec., 1916..$3,166,578.85 Amount of Net Profits for the Year ending31st December, 1917, after making provision for bad and doubt- ful debts and contingencies, deducting all Expenses and Interest paid and due,

1929/1947).

6,653,601.48

$ 9,820,180,33

$ 9,820,180.33

$15,000,000.00

Dr. STERLING RESERVE FUND.

To Balance, £1,500,000@ex. 2/-,$15,000,000.00 (invested in 5% War Loan

Cr.

By Balance 31st December, 1916,

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

17,383,062.17

6,085,624.55 7,773,238,18

$15,000,000,00

Dr.

SILVER RESERVE FUND.

$418,940,414.66

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

$19,500,000.00

$19,500,000.00

84,132,051.40 Bullion in Hand and in Transit, 7,590,795.49 Indian Government 4% Conver

sion Loau, British Government, Colonial

and other Securities, Sterling Reserve Fund Invest-

ments, viz. :-

£1,578,947 78. 5d, 5% War Loan 1929/47 @ 95= £1,500,000 @ e.c. 2/-, Bills Discounted, Loans and

Credits..

Bills Receivable, Liabilities of Constituents for

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

12.369,050.95

18,909,905,47

15,000,000.00

131,607,145.68 146,129,894.55

6,085,624,55 7,115,946.57

$418,940,414.66

Cr.

By Balance 31st December, 1916, $18,500,000.00

Transfer from Profit & Loss

#

Account,

N. J. STABB, Chief Manager. H. C. SANDFORD,

Acting Chief Accountant, STANLEY H. DODWELL, P. H. HOLYOAK,

E. V. D. PARR,

1,000,000.00

$19,500,000,00

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.

F. MAITLAND,

E. A. M. WILLIAMS, A S.A.A.,

Hongkong, 13th February, 1918.

Auditors.