120
CAPITAL ACCOUNT, July to DECEMBER, 1894. 31st Deo., 1894.
ASSETS.
Aberdeen.
Kowloon.
To value of Aberdeen Docks, as per last
statement...
To value of Kowloon: Docks, as per last statement
Less amount since written
off
Cosmopolitan.
To value of Cosmopolitan Dock, as per last state. ment
To value of plant added last
six months
o.
100,000.00
$ Q 1,130,865.40
30,000.00
Tag, Launches, and Lighters.
To value of Fame
To value of 10 steam launches,
1 steam livbter, and boats, as per last state- ment
Dess amount since written
Off
sandry debtors
To cost of material on hand
$ist Deo., 1894.
300,000.00
11,058.88
LIABILITIES.
1,100,565.40
311,058.88
21,453.71
THE HONGKONG WEEKLY PRESS AND
is
With regard to properties upon which the Co pany has granted loans upon mortgage, the Board he of opinion that they afford ample security for advances made.
DIRECTORS.
The Board deeply regrets the loss of the late Mr. H. Hoppius, who, during 21 years, zealously for- warded the Company's interests.
Messrs. S. C. Michaelsen and N. A. Siebs have been invited to fill vacancies on the Board, and these sp pointments require the confirmation of shareholders.
Messrs. Kramer and Dalrymple retire by rotation and offer themselves for re-election.
AUDITORS.
During Mr. B. Lyall's absence from the colony owing to ill-health Mr. W. Hutton Potts has audited the annexed accounts in conjunction with Mr. J. H. Cox. Messrs. Cox and Lyall retire and are eligible
A. G. Wood, Chairman.
for re-election.
BALANCE SHEET, 31st DECEMBRE, 1894.
LIABILITIES.
29,000.00
Capital account
5,000.00
Rezerve fund
21,000.00
Accounts payable:-
0.
-131,513.22
722,437.81
Final dividend for 1893 Bonus for 1893 and sundries.
60,000.00
60,635.23
$2,411,349.02
Working account 1894:-
Balance at credit Transferred from 1893.
108,772.47 37308.75
By shareholders for 12,500 shares of $125
each fully paid.up
By Admiralty
Joan
£20,000. 0.0
Less repay-
ments
5,541. 2.8
£14,458.17.4 @ 28.
1,562,500.00
ASSETS.
Cash at Bankers
144,588.67
$27,623.63
37.973.95 138,662.77
Investments:-
176,636.72
Fixed deposits at Banks :--
Hongkong and Shanghai
Banking Corporation Chartered Bank of I., A. & C. 95,000.00 Mercantile Bank of India, Ld. 25,000.00
$ 0. Chinese Imp. Govt. E. bond® 109,699.25 Hongkong and Kowloon
340,000.00
$2,411,349.02
-Limited, debentures......... 50,000.00
By sundry creditora....
By balance of profit brought $ 0.
forward from last account... By profit
REVENUE ACCOUNT.
81st Doc., 1894.
To cost of labour, material, and working expenses at the Company's three establish-
0.
Wharf and Godown Co.,
Shanghai Land Investment
Co., Limited debentures... 40,877.40 Shanghai and · Hongkow
Wharf Co., debentures Shanghai Waterworks Co., Limited, debentures..............
On properties in Hongkong
Hongkong Fire Insurance Co.. Limited.
41,617.07
ments ****
$86,099.54
8,472.22
To interest
18,665.73
To fire insurance
1,172.61
Loans on mortgage :~~
raym rent
1,460.55
didce
menses, salaries, stationery, and
Inland lot No. 685:-
rent of head offae,
18,489.51
Assigned by mortgagor
To drawing office expenses and salaries
2,812.67
To telegrams
314.78
Four shares..
To legal expenses
225.64
To balance at debit of Admiralty loan ex- change adjustment account, written off... To profit
Furniture account:-
Office furniture, &c.
7,201 99
Accounts receivable :-
138,662.77
$773,304.79
0.
766,673.21 2,756.27 175,00 3,700.31,
1st July to 31st Dec., 1894.
By gross earnings of the Company's three
establishments
By towage net earnings
By transfer fues....
By bonus on premis, &o..
$778,304.79
THE CHINA FIRE INsurance co.,
LIMITED.
The following is the report for presentation to the shareholders at the twenty-sixth ordinary meeting to be held at the Company's effoes on Tuesday, the 19th inst.. at noo0 :-~
The directors beg to submit their annual report and statement of accounts made up to the 31st December last. 1893.-The balance at credit of working ac-
count, as per last report, was
Premia due from, agencies, interest due on deposits and investments, &o......
$0. -400,000.00 2875,000.00
[February 14, 1895
THE WANCHAI WAREHOUSE AND STORAGE CO., LIMITED..
The fourth ordinary annual meeting of the Wanghai Warehouse and Storage Co., Limited, was held on Tuesday afternoon at the offices of the General Managers, Messrs. Meyer & Co., 5, Queen's Road Central. Mr. H. Garrels presided and there were also present Messrs. P. Sachse,
H. Stolterfoht Consulting Committee. C. Heer- mann, C. Sharp, J. G. Schroter, C. Palmer, F. Henderson. H. Ehmer, C. Kleinschmidt, and Kwok A Lang.
The CHAIRMAN said-Gentlemen, the report and accounts having been in your hands for some days, we will, with your permission, take them as read. There is not much for me to add to them. As you will have seen, the net result of the year is about the same as that of 1893. As against a slight falling off in gross receipts there is a corresponding saving in expenses. Our receipts have somewhat suffered through both the plague and the war. During the pre- valence of the former several steamers, which in 120,635.23 the ordinary course of events would have called at Hongkong and discharged into our godowns, avoided the place, whilst the war kept some Japanese steamers away from the colony. You will observe that we propose to carry forward the amount of $1,438.82 to new profit and loss ae. oonnt, which some of you may perhaps think is rather much. However, as we have no reserve fund this is done to be prepared for eventualities, such as damage by typhoors. In this connection
140,081.22
$1,541,716.45
35,892,09
460,000.00
I am glad to say that the many gales or typhoons of the last year did hardly any damage to our property. We have spent rather more on the buildings than was absolutely necessary by having them redrained, so as to connect the drains with the new Government system of drainage. We did this as a precaution, if unhappily the sickness should again visit the colony, that we should anyhow have done all in our power to prevent it from spreading to our premises, which would also, apart from every. thing else, be a calamity to the Company from a This is all that pecuniary point of view. 259,665.94
occurs to me, but if any one of the shareholders 716,125.00 present has any questions to ask I shall be glad
to answer them.
20,000,00
190 00
500,00
49,011.42
$1,541,718.45
WORKING Account, 1st JANUARY TO 31st DECEMBER, 1894, Dr.
To charges account :-
Rent, salaries, legal and sur; veyors' fees, taxes, stamps. stationery, &c.
Directors' and auditors' fees..
To commission account :-
Agents' commissions
$
25,299.89
7,400.00
82,699.83
15,920.34
927.95
To fire brigades account:-
Contributions at agencies, &c.. To losses account 1894- To amount written off :--
Claims acerning to this year paid ......... 178,154.34
Furniture account To balance
Cr.
Net amount of premia collected 252,230,61 Lesa re-insurances
.$218,496.49
Deduct Dividend of $8 per share
By premium account
paid in 1894.....
.$80,000.00
Deduct claims under 1893 policies
paid in 1894....
27,199.41
By interest account
6,062.80
93,261.74
125,233 76
Deduct return premia, &c., &c., paid
in 1894
Balance of profit It is proposed to apportion this sum as follows:- $60,000 to shareholders as a final dividend of $3 per share, making $6 for the year; $27,025 as a bonus to contribu- torn of premia; and the balance, $37,808.75, to the credit of working account 1894.
1894. The premium income for this year shows a god increase, but unfortunately the losses have been greater than in any similar period of the Company's his tory. The bulk of these occurred in Manila, where two Ares, on 21st September and 9th December, involved the Company in several distinct losses, amounting to $161,023, inclusive of $20,347 loss in exchange. Whilst deploring
these occurrences your directors, after mature considera tion, recommend the payment of the interim dividend as before, viz., $3 per share.
There were no questious, and the CHAIRMAN said—There being no questions, I beg to pro- "pose the vulpijen" of the report and accolade
Mr. EHMER-I bave much pleasure in second- |ing the resolution.
Carried.
Mr. PALMER-I have great pleasure in pro- posing that Mr. Sachse and Mr. Stolterfoht be re-elected as the Consulting Committee.
Mr. EHMEK-I second that. Carried.
Mr. SHARP-I have much pleasure in propos- ing the re-el-otion of Mr. Henderson as auditor for the year.
Mr. KLEINSCHMIDT-I second the resolution. Carried,
The CHAIRMAN-I thank you very much for your attendance. The dividend warrants will be sent out to-morrow.
The following is the report presented to the meeting
The General Managers beg to submit to the share- bolders their report on the working of the Company 67.40 and a statement of accounts for the year ended 31st 108,772.47 December, 1894.j
$936.542.33
6,789.22
245,441,89
Amount at credit, including interest due
on deposits and investments) &c......... 90,902:43 By transfer fee account :-
Amount at oredit
198.51
$336,542.39
Huang Kung-ta, the Chinese Consul General at Singapore, arrived at Shanghai by the last English mail from the Straits Settlements, and has proceeded to Nanking. The N. C. Daily Newe is informed that Mr. Huang had been tele- graphed for by the Viceroy Chang to go to Nanking to assist in the management of the Bureau of Foreign Affairs there.
The net profits of last year's working, including $762.64 brought forward from last account, amount to $7,268.82, out of which the General Managers, with the approval of the Consulting Committee, recommend to pay a dividend at the rate of six per cent., absorb ing $5,850, and to carry forward the balance of $1,438.22 to new profit and loss account.
The buildings of the Company are in a fair state of repair.
CONSULTING COMMITTEE.
In accordance with the Articles of Association Mr. P. Sachse and Mr. H. Stolterfoht retire, but offer themselves for re-election.
AUDITOR.
The accounts have been audited by Mr. F. Honder- son, whose re-election is recommended.
MEYER & CO., General Managers. Hongkong, 2nd February, 1895. To capital account: 2,600 shares at $100,
LIABILITIES AND ASSETS, 31ST DECEMBER, 1894.
of which $37.50 are paid-up
97,500.00 To mortgages of
....... $140,000.00 To mortgages of
20,000.00
To sundry creditors
---- 160,000.00 3,805,50
To balance of profit and loss account......... 988.82
$269,294.32
No comments yet.
Private notes are available after approval.