677968-1882-Unknown-Subject — Page 1

136 THE HONGKONG GOVERNMENT GAZETTE, 11TH FEBRUARY, 1882.

HONGKONG & SHANGHAI BANKING

CORPORATION.

ABSTRACT OF ASSETS AND LIABILITIES,

HONGKONG & SHANGHAI BANKING CORPORATION.

31st December, 1881.

THIRTY-THird

REPORT OF THE COURT OF DIRECTORS

ASSETS.

.$ 5,908,881.17 960.247.70

Dr.

Cash,

Government Securities,

TO THE

ORDINARY YEARLY GENERAL MEETING

OF

SHAREHOLDERS

TO BE HELD

AT THE CITY HALL, HONGKONG,

On Wednesday, the 15th February, 1882,

AT 3 P.M.

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 31st December last,

The net profits for that period, including $3,734.69 brought forward from last account, after paying all charges, deducting interest paid and duc, making provision for bad and doubtful accounts, and for the difference in Exchange be- tween the rate at which the Dividend is declared and the current rate of the day, amount to $642,317.01, of which, after taking out rebate on Bills not yet due and remuneration to Directors, there remains for appropriation $619,195.01.

From this sum, the Directors recommend the payment of a Dividend of One pound Ten shil- lings Sterling per Share, together with a Bonus of Ten shillings per Share, which will absorb $355,555.56.

The Directors propose placing $200,000 to the credit of the Reserve Fund, and carrying forward the Balance, viz., $63,639.45 to the credit of new Profit and Loss Account.

The Directors are much pleased at being able to recommend a Bonus, and congratulate the Shareholders on the prosperous condition of the Bank's affairs admitting of their doing so.

DIRECTORS.

The Honourable E. R. BELILIOS, and Mr. WILLIAM REINEPS retire in rotation, Mr. REINERS is eligible for re-election, and offers himself accordingly. The Honourable E. R. BELILIOS does not offer himself for re-election. The Directors have invited Mr. ALEXANDER PALMER MCEWEN and Mr. MEYER ELIAS SASSOON to seats at the Board which these Gentlemen have accepted. Their election re- quires confirmation by the Shareholders at this Meeting.

Mr. II. L. DALRYMPLE has been appointed Chairman for 1882, and Mr. H. DE COURCY FORBES Vice Chairman.

AUDITORS.

The Accounts have been audited by the Honourable PHINEAS RYRIE and Mr. A. P. MCEWEN.

The Directors recommend the election of the Honourable PHINEAS RYRIE and Mr. JOHN MACGREGOR as Auditors for the year 1882.

A. MCIVER, Chairman.

Hongkong, 10th February, 1882,

Bills Discounted, Loans and Credits, 20,853,812.29

Bills Receivable,

Bank Premises,...

Dead Stock,.....

Cr.

Paid-up Capital,. Reserve Fund,

30,112,674.50 274.926.31 106,836.04

$58,226,378.01

LIABILITIES.

.$ 1,900,000.00 Marine Insur. Acct.,... 150,000.00

$5,000,000.00

2,050,000,00

32,932,910.44

35,167,804.52

Notes in Circulation, $2,234,894.08 Deposits,........................

Bills Payable (including Drafts on London Bankers and Short Sight Drawings on our London Office against Bills Receivable and Bul- lion Shipments).... Profit and Loss Account,

15,366,256.48 642,317.01

$58.226,378.01

PROFIT AND LOSS ACCOUNT, HONGKONG & SHANGHAI BANKING CORPORATION.

Dr .

31st December, 1881.

To AMOUNTS WRITTEN OFF:-

Remuneration to Directors, $10,000.00 Rebate on Bills not due,.... 13,122.00

To DIVIDEND ACCOUNT:- £1.10 per Share on 40,000

Shares £60,000 @ 4/6, $266,666.67 To BONUS:-

10 per Share on 40,000

Shares £20,000 @ 4/6, $ 88,888.89

TO RESERVE FUND,

To BALANCE:-

-$23,122.00

-$355,555,56 200,000.00

Carried forward to next half-year, ............. €3,639.45

Cr.

By Balance of Undivided Profits, 30th

June, 1881,

By Amount of Net Profits for the Six Months ending 31st December, 1881, after deducting all Expenses and Interest paid and due......

RESERVE FUND.

$642,817.01

.$ 3,734.69

638,582.32

$642,317.01

To Balance on 31st December, 1881,...$2,100,000.00

By Balance on 30th Junc,

1881, By Amount from Profit

$2,100,000.00

.$1,900,000.00

and Loss Account,... 200,000.00

T. JACKSON, Chief Manager. H. SMITH, Chief Accountant.

A. MCIVER,

-$2,100,000.00

H. L. DALRYMPLE, > Directors. H. HOPPIUS,

We have compared the above Statements 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. P. RYRIE, A. P. MCEWEN,

Hongkong, 10th February, 1882.

Auditors.

Printed and Published by NORONHA & Co., Printers to the Hongkong Government.