432
reserve fund in accordance with the suggestion made at the general meeting last year.
General insurance fund $10,000, the main- tenance of which as a separate account served no useful purpose, has been merged into per- manent reserve fund.
Permanent reserve fund in 1894 accounts stood at $183,000. After writing off $100,000 . for goodwill and trade marks and with the addition of $10,000 general insurance fund and $7,000 to be taken from the 1895 profits now available for appropriation, it will stand at $100,000.
Reserve fund to meet contingencies or for the equalization of dividends remains at $25,000 as heretofore.
The Company's accounts in London have been audited by Mr. Leonard B. Warmington, chartered accountant, and those at the Head Office by Mr. Francis Maitland, acting for Mr. S. G. Bird, who is absent.
The Company's business continues to be pro- gressive and satisfactory.
JNO. D. HUMPHREYS, General Manager.
Hongkong. 9th May, 1896.
BALAN E SHEET, 1ST DECEMBER, 1895.
LIABILITIES.
$ c. 600,000.00
Capital account
Local and general liabi-
lities in the East
General
liabilities
London
$15.654.70
in
34.804.41
50,459.20
70,000.00
Mortgage on inland lot No. 19 and
the building thereon
120,459.20 Bills payable. Hongkong. Manila, and London 72,325.52 Permanent reserve fund
Reserve fund to treet contingencies,
$93,000,00
or for the equalization of dividends 25,000.00
Unclaimed dividends
Security deposits from staff
Profit and loss, forward
from 1804
7,613.19
Profit and loss, from net
balance, 1895...
67,182.25
75,015.44
Less interin dividend of
5 per cent, paid in No-
vember, 1895
20,000.00
Less amount unclaiwel, 1,822.50
Stock in trade
ASSETS.
28,177.50
Building improvements and leaseholds
Good debts due from customers
Suspense account
Cash in bani
Cash at bankers
Remittance in transit
Fire insurance premia unexpired
$25,588.96 16,263.49 13,760.89
Good debuts due from sundry debtors in London
and Hongkong
Branch adjustment account
Lavestments in public companies-
North China Insurance Co., Limited Hongkong Fire Insurance Co., Limited
64,389.49
Section A of inland lot No. 17 and
the buildings thereon.... Inland lot No. 19 and the buildings
thereon
.156,055.32
Kowloon inland lots Nos. 549, 550,
and 551
Peak rural building lot No. 80 and
the building thereon
23,000.00
16,000.00
Dr.
PROFIT AND Loss.
To depreciation account
To balance..
Cr.
CONTRA.
By balance forward from 1894
By net profits in Hongkong, China, London,
and Manila for 1995.
118,000.00 2,066.00 13,100,00
46,837.94
THE HONGKONG WEEKLY PRESS AND
C.
|
BELL'S ASBESTOS EASTERN
AGENCY, LIMITED.
The following is the first annual report of Bell's Asbestos Eastern Agency. Limited :-
The directors herewith present to the share- holders the report and accounts, duly audited, for the period from the incorporation of the Com. pany to the 31st December, 1895.
[May 21, 1896.
made "fish of one and flesh of another," and pointed out that while their cocklofts were being pulled down other and illegal cocklofts in the neighbourhood had been permitted to remain up, having been passed by the Sanitary autho- rities when cleaning the respective premises. I informed Mr. Ede, the only 'unofficial member of the Board. of this, who, with Mr. McCallum and myself, visited the many premises referred The to containing these illegal cocklofts. The work during the greater portion of this period has been largely of a preliminary nature. report we found perfectly correct, many of the ft. 6 in. and 6 feet high, in- including the foundation of agencies at Hong-cocklofts being
Mr. McCallum himself said kong, Shanghai, and other places in the East. stead of 9 feet
of they were illegal. The gross profit amounts to the sum
I understand that Mr. McCallum subse- £731 ks, ūd., and after providing for Lo.don office and other expenses the directors recom- quently promised to allow the owners to re- their legal cocklofts, and would mend that one-third be written off preliminary install expenses, say £6698.3d., and that the sum of endeavour to obtain reasonable compensation for them for their damaged goods, which were 70s. 3d., be transferred to profit and loss new
principally valuable Chinese medicines.
account.
The suc: ess of the Shanghai agency has been, unfortunately, somewhat retarded by the long illness and subsequent death of the Company's agent. Mr. D. W. Jones, whose loss the direc ters have to regret.
#
On Monday last, I received reliable informa- tion as to how this "oracle" is worked (t.e., Chap- allowing illegal cocklofts to remain). ter and verse were given me; I reported this to headquarters in order that the Board might The directors have made arrangements and take steps to verify the reports, which was cer concluded agreements to represent different tainly not the duty of a private individual. If manufacturers in the Far East, and it unti-they found, on visiting the premises mentioned cipated that in time these will add materially to to them, illegal cocklofts therein, they could
with confidence consider the report correct. the profits of the Company,
1
Under the provisions of the articles of association Air. William Robe Jenkins retires from the Board, and, being eligible, offers him- self for re-eler tion.
Mr. John Compur. the auditor appointed by the directors, also fetires, and offers himself for re-election.
By order of the Board.
F. O. GASK. Secretary, 1. Walbrook. E. C., 9th April. 1896.
CORRES! ONDENCE. [We do not hold ourselves responsible for the opinions expressed by our correspondents!] CORRUPT ADMINISTRATION OF SANITARY REGULATIONS.
TO THE EDITOR OF THE DAILY PRESS.
DEAR SIR- Adverting to the "Crusade now being waged against illegal cocklofts and $972,788.56
sunshades in this city by the officials of the $ Sanitary Board, and the remarks that have 530,446.29 appeared in the local papers from time to time 5.490.96 respecting the mode of carrying out the regu- lations and orders of the Sanitary Board, the 1,77149 | following plain statement of facts which have come under my own personal knowledge, since Friday afternoon last, will, I think, be of interest 65,613.34 to you and your readers, more especially at the
2,832.28 present time.
99.144.87
In making these statements I wish it to be 12,985.35 distinctly understood that I do not in any way 2,509.27 object to the excellent regulations as provided for in the respective Ordinances and by-laws 2,550.00 referring to the sanitation of this colony. My remarks are directed principally to the irritating, rexatious, and high-handed manner in which they are carried out by the subordinate officials of the Sanitary Board..
S 4,868.53 75,015.44
On Friday last. the 8th inst., about 4 p.m., I was informed by some clients, the owners of large longs in Bonham Strand, that they had 259,444,81 received J
verbal notices from Policeman No. 103 that afternoon that the Whitewashing $972,788.60 Brigade, with its irresponsible contingent of soldiers and coolies, were coming round next morning at 7.30 a.m. to pull down their cock- lofts, etc. I was there myself next morning (Saturday) at 8.30 a.m. and found all kinds of $79,883.97 | perishable and valuable trade goods being turned out from the different floors into the street in a very rough manner, and some articles even thrown into the street from the first-floor verandah. The coolies, in washing the verandahs, allowed, in some cases, the dirty water from the verandahs to run into my clients' cargo and stock-in-trade in the street, damaging some of it very considerably.
ន
7,613.19
72,270.78
$79,883.97
A native match factory called the Hsien-yang Company has recently been established at Nan- king, under the patronage of the ex-Viceroy of the province, Chang Chih-tang.-N. C. Daily News.
Li
The gang" also pulled down some legal cocklofts in these houses, although they were cautioned against doing so; and some of my clients protested against it, and also enquired how it was that the Sanitary Board were not consistent" in their proceedings, why they
56
་་
The better class of Chinese merchants and shopkeepers, such as those in Wing Lok Street and Bonham Strand. do not object to having their premises cleaned and white- washed by the Board; they do, however, object, and that most strongly (and rightly so, too), to receiving a short gerbal notice of a few hours only from an irresponsible policeman before all their valuable goods and stock-in-trade are thrown into the street. Most of the hongs in this neighbourhood have their first floors stacked with merchandise of all kinds, and if they only have a
** reasonable “' time to remove it, they will do it themselves, and be responsible for damages. On this being pointed out to Mr. McCallum, and his attention drawn to the abore. he kindly gave a letter to some other of my clients, who also had received a few hours' notice, to show to the policeman in charge of this special gang, instructing him to postpone work at this house for three days, in order to enable the owners to remove their own goods. On this letter, however, being shown the police- man, be repudiated the letter and its instruc- raided the premises tions, and immediately with his " gang," and proceeded with the work more vigorously than usual.
At about 3.45 p.m. yesterday afternoon my On proceeding duty called me to West Point.
gang of coolies down Bonham Strand I saw destroying a good sunshade covered with zinc and boards over the footpath in front of No. 51. The sunshade itself was probably illegal, but no one could say it was injurious to health, and the street at this point is unusually wide. There were two or three European policemen looking soldiers and numerous on, together with Chinese, the whole proceedings being of a very After watching exciting and noisy character. them for some, time, I asked the policeman in charge (No. 103) who was his authority for acting thus. He informed me "He was, him. self." The sunshade at No. 55 (next door but one) was intact and not touched in any way, and on asking this same man why he had not pulled that one down also, like the others, his reply was that he (Policeman No. 103) had passed it." On my telling him, if he pulled one down he should pull all of them down, I only received abuse from him. The "oracle" may have been at work here also.
**
now
and
No one appreciates more than myself the efforts of the Sanitary Board to improve the sanitation of the colony. I am always bave been prepared to assist and support the carrying out of any reasonable measure for improving its sanitation, and in fact in some cases I would advocate even more stringent measures. What I do object to, however, and that is the reason for my now writing you, is that all these regulations are not carried out consistently, without "fear or favour," and I hold that the Board and its officers should treat every one in the same manner, and not "blow hot and then cold." Probably
most of the owners referred to have received notices months and years ago, but they have
+
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