262
GEORGE FENWICK AND CO., LIMIVED.
A meeting of the shareholders in Goo. Fenwick & Co., Limited, was held on the 19th March, at noou, at the Hongkong Hotel. Mr. G. Fenwick presided, and there were also present-Messrs. W. Parlane and A. Rodger (Consulting Committee, A. Woolley, R. C. Wilcox, F. Henderson, J. H. Cox, G. C. Cax. J. Rodger, A. C. More, W. G. Winterburn, and H. Hyndman.
The CHAIRMAN-Gentlemen, the report and statement of accounts having now been in your hands for some days I will, with your consent, follow the usual course and take
them as read. The year under review has, I hope, proved satisfactory to all. The gross earnings have fallen off, but the profit realized shows an improvement on the past year. accounted for by haring a better exchange and cheaper coals. Our stock had somewhat diminished, but this has been added to again and is now about as it was in December 1894. A fair allowance has been made for depreciation of machinery. All our machines stand at a low valuation and are in good condition; still I consider it a wise policy to write our plant down year by year. (Applause.) The amount carried forward is again increased. This has been done with the object of adding materially to our earning power. Improved machinery will this year be added to our boiler shed. This, I think I said, would be done during the past year, but I deemed it prudent to give the build- ing more time to show whether settlement
any took place before adding heavy weights to it, as it has been built entirely on reclaimed ground. I am glad to say it has shown itself to be both substantial and useful, and no doubt has assisted in reducing cost by affording as it does excellent shelter for the men. There is nothing left for me to say regarding the accounts, which I think show a clear and precise statement of our affairs. Should any of the shareholders present have any questions to put relative to the business I shall be pleased to answer them to the best of my ability. Before sitting down I wish to tell you that I am going home next month. When there, I shall have a look round and select for our boiler shed a travelling crane and hydraulic rivetting machinery. I would have ordered these previously, but as I was going home I thought it advisable to see for myself the latest improvements in this class of machinery. Mr. Winterburn will be appointed Acting Manager and another Engineer has been engaged to assist him. I have every confidence that the business will be conducted as successfully under the management of Mr. Winterbarn as heretofore. (Applause.)
Mr. WOOLLEY--How long do you expect to be away, Mr. Fenwick?
The CHAIRMAN-I expect to bo away about a year. I cannot tell exactly.
THE HONGKONG WEEKLY PRESS AND
The CHAIRMAN thou moved the adoption of the report and accounts.
Mr. WOOLLEY-I have very great pleasure in seconding the adoption of the report and accounts. I am sure I voice the opinion of the shareholders generally when I express intense satisfaction at the very creditable statement placed before us by the General Manager; it re- flects the utmost credit upon all concerned. (Applause).
The CHAIRMAN-I thank you, Mr. Woolley, for your remarks on behalf of the staff of the Company. I am glad to say that those under me have given every assistance in their power and have worked very hard.
The resolution was carried. Mr. G. C. Cox proposed the re-election of Messrs. Parlane and A. Rodger as members of the Consuiting Committee.
Mr. Wilcox seconded. Carried.
Mr. WOOLLEY proposed and Mr. J. RODGER seconded the re-election of Mr. Arnold auditor.
Carried.
88
The CHAIRMAN-Gentlemen, that concludes the business of the meeting. Dividend war- rants will be issued to-morrow morning.
LUZON SUGAR REFINING CO.,
LIMITED.
The following is the report for presentation to the shareholders at the fourteenth ordinary annual meeting to be held at the offices of the General Agents on the 27th March :--
The General Agents beg to submit to the share holders their report and statement of accounts for the year ended 31st December, 1895.
There was a steady demand for sugar in the Spanish market during the year, and the Refinery at Malabon was kept continuously at work from the 1st of February until 20th of November, but owing to the low prices ruling everywhere the margin of pro-
fit was moderate.
Inclusive of $10,202.65 brought forward from the year 1894, the net gain on working amounts to 869,727.18, which the General Agents and Consult- ing Committee recommend should be appropriated To apply to reduction of property account. $25,000.00 Dividend of $7 per share
35,000.00 Carry forward to next account
9,727 18
as follows:-
CONSULTING COMMITTEE.
$ 19,727.18
The Consulting Committee elected at the last annual meeting consisted of Messrs D. Gillies and J. Lewis. During the temporary absence of the former from the colony Mr. R. [Cooke has been Messrs. R. invited to join the Board in his place. Cooke and J. H. Lewis offer themselves for re- election.
AUDITORS.
The accounts have been audited by Mr. Thomas Arnold, who offers himself for re-election.
JARDINE, MATHESON & CO., General Agents.
Hongkong, 13th March, 1896.
Property account
Less-
CAPITAL ACCOUNT, 31ST DECEMBER, 1895.
Written off for depre-
ciation
Value of granulator
ASSETS.
$741,342.43
$74,000.00
sold as old metal.. 200.00
74,200.00
$4,000.00 Less written off for depreciation .. ,000,00
Steam-launch Precursor.
Refined sugar......
Raw sugar Molasses
Coal, charcoal, stores, mat bags, ke. Hongkong and Shanghai Banking Corporation
Cash
Sundry debtors
Capital account
LIABILITIES.
Jardine, Matheson & Co.'s advance acpount. Jardine, Matheson & Co's current account Sundry creditors
667,142.43
2,000.00
65,027.82
22,914.30
874.78 34,861.98
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[March 26, 1996.
than in previous years, and the sport was excellent and afforded much enjoyment, while the various events were started in excellent time, a fact which, considering the great length of the programme, reflects considerable credit upon the active officials. During the afternoon. !. the band of H.M.S. Centurion played many selections of music. The following is a list of officers
PATRONS.-His Excellency Sir William Robinson, K.C.M.G., H.E. Vice Admiral Alex. Buller, C.B., H.E. Major-General Wilsone Black, C.B., Commodore G. T. H. Boyes, R.N.
COMMITTEE. Hon. Captain W. C. H. Hastings, R.N., Vice-Chairman; Sir Robert Arbuthnot, R.N., Dr. J. M. Atkinson, Mr. G. A. Caldwell, Mr. P. G. Davies, R.A,, Mr. A. Denison, Mr. R. F. Lammert, Mr. R. K. Leigh,. C. H. Thompson, Captain Tunnard, R.N. Mr. W. Machell, Major Pemberton, R.B., Mr.
JUDGES. Dr. J. M. Atkinson, Hon. Capt. ́. W. C. H. Hastings, R.N., Major Pemberton, R.B., Captain Tunnard, R.N.
REFEREE. Hon. J. H. Stewart Lockhart. HANDICAPPERS.-Sir. Robert Arbuthnot, R.N., Lieut. P. G. Davies, R.A., Mr. R. F. Lammert.
CLERKS OF THE COURSE Sir Robert Arbuthnot, R.N., Mr. G. H. Potts, Lieut. P. G. Davies, R.A., Mr. C. H. Thompson, Mr. W. Machell.
Starters.—Mr. G. A. Caldwell, Mr. A.
Denison.
TIME-KEEP! R8.—Mr. Hart Buck, Mr. E. J. Hughes, Mr. R. K. Leigh.
HON. TREASURER.--Mr. W. Armstrong. HON. SECRETARY.—Mr. E. D. Sanders. 120 YARDS FLAT RACE (HANDICAP); first prize presented by G. C. C. Master, Esq., second prize presented; first two in each heat to run in the final.
FIRST HEAT.
F. H. Kew, scratch...
W. Armstrong, 1 yd.
2
C. M. Firth, 2 yds.; C. M. Dammers, R.N.,
2 yds.; C. T. Kew, 3 yds.; J. dos Remedios, 4 yds.; J. S. Bruce, 5 yds.; C. E. Hance, 8 yds., also entered. Time-13 secs.
SECOND HEAT.
G. D. Campbell, 1 yd.
H. 8. Thomson, R.N., 5 yds....
1 2
E. W. Townend, scratch; G. R. Blunt, R.N., 2 yds.; A. C. Padday, 3 yds.; J. M. Steel, R.N.,
5 yds.; W. M. Humphreys, 6 yds., also entered. 112,700.97 | Time-13 secs.
5,986.91
18,311.75
-$929,620.94
$ 700,000.00
C.
50,000.00
99,533.50
10,360.26
69,727.18
$920,620.94
PROFIT AND Loss Account. Dr.
Profit and loss account..
To interest
To remuneration to Consulting Committee To General Agents and Manila Agents' cum-
mission To auditor's fee To exchange To balance
By balance from last year By gain on working
$ c.
F. H. Kow
FINAL HEAT,
W. Armstrong...
Time-123 secs.
LONG JUMP (three tries); prize presented by
D. R. Sassoon, Esq.
F. H. Kew, 18 ft. 9 in.
P. Hyndman, 16 ft. 11 in.
There were only two competitors.
THROWING THE CRICKET BALL (three tries);
prize presented by Hongkong Cricket Club.
C. G. Klinck, 84 yds.
W. Armstrong, 794 yds.
1 2
J. S. Bruce, F. H. Kew, A. S. Anton, W. M.. 8,268.95 Humphreys, and C. M. Firth also entered. 1,200.00 100 YARDS FLAT RACE; trial beats; first prize presented by Vice-Admiral Buller; second prize presented; first two in each heat to run in the final..
11,325.92 150.00 92:23
69,727.18
F. H. Kew ·
FIRST HEAT,
Four started. Time--11 secs.
$90,764.28
W. Armstrong...
Cr.
$ 10,202.65 80,361.63
SECOND HEAT.
C. T. Kew...
G. D. Campbell
$90,764.28
VICTORIA RECREATION CLUB.
ANNUAL ATHLETIC MEETING.
Ou Saturday afternoon the annual athletic meeting promoted by the Victoria Recreation Club was held at the Happy Valley. Notwith- standing the raw cold weather the attendance was very large indeed and amongst those pre- sent were His Excellency the Governor, Sir William Robinson; Admiral Buller, and Major- General Black. The meeting was a decided success. The competitors were more numerous
Four started. Time-11 secs.
F. H. Kew
W. Armstrong
FINAL.
2
Won by a yard. Time-10 secs. PUTTING THE SHOT (16 lbs.); winners, at previous meetings at Hongkong and else- where to be penalised one foot; prize pre- sented.
W. Armstrong, 31 ft. 6 in.
1
Lieut. James, R.N., 31 ft. 6 in. Armstrong was awarded the prize because Lieut. James was penalised a foot. J. S. Bruce, C. M. Firth, David Hatelie, R.N., and D. Mc- Hardy also entered.
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