THE HONGKONG WEEKLY PRESS AND
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Mr. Cox-In order to serve on the Board must Mr. Ewens be re-elected ?
The CHAIRMAN-Yes. Mrl Cox-He dan resign? The CHAIRMAN—Yes.
people on the register who are not shareholders at present. Before parting I would ask you to elect an auditor. Mr. J. H. Cox has audited our accounts and I beg to propose that he be re-elected.
Mr. CARVALHO seconded. Carriel.
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The CHAIRMAN Gentlemen, as there is no further business I must ask you to meet again on Saturday next, at noou, and I hope in the meantime we may be able to propose a Con- sulting Committee.
them and his reports on the mines agree in all respects with those obtained from other and undoubtedly reliable men; all agree (as you are aware) that the Company possesses a thoroughly good property which has in no. way lost in value since Mr. Henderson was No one was proposed and the CHAIRMAN said placed in charge to carry out his estimate There is no one proposed, and I am not in a of 1893, which estimate and report was position to mention any names to yon at pre- considered by the Board to be a practicable one, sent for election on the Board, and so I propose made by a practical miner with a full know under the articles of association to adjourn the ledge of his subject and the necessary experi. meeting till his day week. The articles read ence to fit him both to judge what work should that if at any meeting when a Consulting be done and what such cost should be. After Committee is to be elected no such election nearly two years work under Mr. Henderson's takes place, the meeting shall stand adjourned management and an expenditure of more than for a week, and then if nobody is elected the double the money he estimated it would take to existing members shall remain; but we have not put the mines in working order, we find our- a quoruin of existing members. I may say I selves a good way from being in that position, have asked Mr. Cooke, of the Dock Company, to and the Board under these tireumstances can take the place of Mr. Gillies pro tem., and also only draw the conclusion that either Mr. Hen- Captain Burnie, who is a shareholder, but they derson's estimate of 1893 was totally inadequate are kept too busy and cannot undertake the duty. for the proposed work or that he had altered In the meantime the difficulty is to find out who his plans without our sanction and has done really are our shareholders, and who are not- more costly work than he at first thoughtfully paid. I mean. We have a great many necessary, the result of which is that the capital at our disposal was all spent before sufficient stone could be raised and crushed to pay our way. In October" we coutracted a loan of $20,000 and this is also nearly expended with the same result. This loan becomes due on the 5th February, 1896, but part or the whole if required has been promised to be continned. | Under these circumstances the Board deemed it advisable to dispose of the " Eureka Mine to the "Oliver's Freehold Mining Co., Limited," when floated, for $15.00 and have further sent plans, reports, and all particulars of the Balmoral mine and battery to England, with the object of placing the same on the London market. If both or even one of these properties. are sold the Eureka" has now been sold the Board have every confidence that they will have sufficient, funds to place the remain ing mines, the Queen “and Grant (said to be our stayers), ou a dividend paying basis. Expenses are at present heavier than they should be and with a view to more economical .......working we have suspended further operations;
at the mines, except work necessary to fulfil the labour conditions under the Mining Act of New South Wales anfl have under consideration | certain changes in the management. Yesterday we received a telegram from the mines advising that another trial crushing would be made and the result was expected to be satisfactory. The Company are indebted to Mr. J. D. Humphreys for an interesting report on their property made during his late visit to Australia, and from which it appears Mr. Henderson's work has been car- ried out in a most substantial, but at the saine time most expensive manner. We much regret the loss from our Board by death of Mr. Poon Pong, who since the starting of the Com; pany had been one of its most active supporters. Now, gentlemen, before asking you to adopt the report and accounts, I shall be pleased to auswer any question.
There were no questions, and the CHAIRMAN moved the adoption of the report and statement of accounts to 30th June.
Mr. Cox seconded. Carried.
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MESSRS. }. S. WATSON & CO., LIMITED.
Au extraordinary general meeting of the shareholders in this Company was held in the Board room at the Hongkong Dispensary on Saturday morning (28th December) for the pur- pose of confirming the resolution passed at an extraordinary general meeting held on the 11th inst. Mr. J. D. Humphreys presided, and there were also presqut Mr. W. H. Ray, Capt. Clements, Messes. J. T. Hagen, J. A. Jupp, J. C. Peter, Hart Back, Lan Shan, and A. H. Mancell (secretafy),
The CHAIRMAN-Çientlemen, the following special resolution was passed at an extraordinary general meeting held in this Board room on the 11th inst:That, the articles of association of the Company be altered by striking out article 10 and substituting in lieu thereof the new article 104, which will read as follows: If the said John David, Humphreys vacates office by death, the firm of J. D. Humphreys and Son shall succeed him and be the General Maungers of the Company." I now beg to move that this resolution be confirmed.
Mr. W. H. RAY-I beg to second. Carried unanimously.
The CHAIRMAN-I ain very much obliged to you for your attendance, gentlemen. I think that concludes the business of the meeting.
THE DAIRY FARM CO, LIMITED.
throughout our staff from
close of the year; and I attriby very portion of our success under God's providence the fidelity with which we have been served. The directors have also laboured well. We a sorry that Mr. Machado has resigned, he has done good work for the Company during the last three years. Our business is in some degree divided on account of the distance between the farm and the town office. Mr. Machado has taken especial care of the town office, and he and Dr. Noble have devoted themselves very constantly to the perfecting of the arrange. ments there, whilst Captain Burnie has devoted much of his time to the farm. We have taken the opportunity this year of writing down our property. Several persons have remarked that we had too much property and not enough cows; we have more cows than we had before, and our property is put down at a lower figure than it ever was before, and there- fore I hope the feelings of all will thereby be met. We are very glad indeed to be able to bring before you a good report, and when you have had the opportunity of asking any ques- tions you may like to put upon the subject, I' shall proceed to move the adoption of the report
and accounts.
There were no questions, and the CHAIRMAN moved the adoption of the report and statement of accounts to the 30th November last.
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Mr. RAY-I have very much pleasure in seconding the resolution which has just been proposed. I think the directors are.. to be. sincerely congratulated upon the very excellent result this year. I myself know the trouble they have been to from my own experience on the Board, and the result now obtained is a matter of congratulation to the shareholders as well as to the directors.
Carried.
Mr. Cox proposed the re-election of the retir- ing directors, Captain Burnie and Dr. Noble.
Mr. ADAMSON seconded.
Carried.
Captain TILLETT proposed the confirmation of the appointment of Mr. S. G. Bird as director.
Mr. RAY seconded.
Carried.
Captain BURNIE proposed and Mr. ADAMSON seconded that Capain Tillett be requested to ac cept a seat on the directorate.
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The CHAIRMAN-I have very much pleasure in saying that the directors recommend that appointment to the shareholders.
The resolution was carried.
Captain TILLETT Gentlemen, I beg to thank you for the honour you have done me. I shall endeavour to assist the Board to the best of my power and ability.
The CHAIRMAN-Thank you.
Mr. DARBY proposed the election of Mr. Henderson as additor.
Mr. G. H. Ports seconded. Carried.
The CHAIRMAN-I hope Mr. Henderson will be able to accept the appointment, because I see by an advertisement that he is making a change in his arrangements, but I hope he wills still be available for this service. I think, gentlemen, that is all we have to do. I am very much obliged to you for coming, because- if The CHAIRMAN-The next business before
you had not come we should not have been you is to elect the Consulting Committee. I am The ninth ordinary yearly meeting of share-able to do anything; we have only just been sorry to say that at the present moment we are holders in the Dairy Farm Co, Limited, was
able to do what we have. Dividend warrants= without a Board, Mr. Poou Pong's sudden deathheld at Telegraph House, Queen's Road, on the will be sent out in due course. and the departure from the colony of Mr.
On the motion of Mr. RAY a vote of tha
thanks Coughtrie the other day leaves us without a
was passed to the Chairman.
This concluded the business of the meeting. quorum. Mr. Ewens is at the present moment our only member. Mr. Gillies is still a member of the Board, but he is absent, and I should like you to propose someone to take the place of Mr. Poon Pong and Mr. Coughtrie.
Mr. DEACON What is the number you re- quire ?
The CHAIRMAN We require two as a work ing Board; not less than two according to the articles.
Mr. DEACON-Two will be sufficient? The CHAIRMAN Yes, Mr. Ewens dees not care to be re-elected; I think he will consent if he has someone to assist him.
Mr. EWENS-I think you had better abolish the Consulting Committee and leave the work to the General Managers. A Consulting Com- mittee is only an unnecessary expense to a Com- pany like this.
27th December at noon. Mr. Granville Sharp presided, and there were also present Messrs. S. G. Bird. E. Burnie, W. H. Potts (Secretary), S. A. Tillett, G. C. Cox, S. L. Darby, G. H. Potts, W. H. Ray, G. Murray Adamson.
The CHAIRMAN--Gentlemen, we have called you together this time rather earlier than usual. We thought there was a certain appropriate- ness, as we had a good report to lay before you, to invite you to meet about Christmas time-a time of general festivity. We have had a good year, and we have proved the truth of the adage that all things are possible to wisely directed diligence;" and we hope you will be satisfied with what we have done. We have much to be thankful for; to God's providence for preserving the health and the lives of our cattle, as we have not suffered as some of the dairies in the north have during the past year. All the employes of the Company have done their best, and I think there has been a singularly devoted spirit
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MAJOR BROTHERS, LIMITED JESUS- The annual meeting of the above Company was held at Shanghai on the 22nd December when the report and accounts were adopted The following is the substance of the report
The directors beg to submit to the share holders the duly audited accounts for the sixth→ year's operations of the Company, ended 31st October, 1895.
They regret that the business as a whole has, not left a profit on the twelve months working: but consider that it is now on a much more satisfactory and sound basis. A comparison this year's accounts with those of last that the loss for 1895 amounts to Tls, 4,567 against a deficit in 1894 of Tls. 21,548.78.
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