THE SOY CHEE COTTON SPIN-
NING CUIMIT, D.
THE HONGKONG WEEKLY PRESS AND
Shanghai, 25th January. The main steam engines of the above mill were successfully started on Saturday afternoon last, by the superintendent engineer of the mill, M. M. Mutter, in the presence of (a number of gentlemen, including Mr. H. Lehmann, re- presenting the general manager. The high pressure engine was named Lehmann after the above gentlemen, and the low pressure engine Arnhold after the head of the firm of Messrs. Arnhold, Karberg & Co, the general managers.
These large engines, equal to 1,500 indicated horse-power, when fully loaded were гип for a little over two hours continuously without a hitch, every- thing working smoothly and satisfactorily. Messrs. Asa Lees & Co. of Oldham, who are the
makers of the textile machinery for the mill, placed the order for the steam engine with the well-known firm of engineers, Messrs. J. & E. Woods of Bolton, every part of the engines being made by this firm, who are to be congratulated upon the thoroughly good, strong, and efficient job they have turned out, and also upon the excellent quality of the material and workmanship.-Mercury.
CHINA FIRE INSURANCE CO., LIMITED.
The following is the report for presentation to the shareholders at the twenty-eighth ordin- ary meeting to be held at the Company's offices on Monday, 15th February
*
The directors have now the pleasure to sub. mit a statement of the accounts of the Company for the year ending 31st December last. 1895,-The balance at credit of working accounts as per last report was... 8235,666.14 Deduct dividend of $3 per share
paid in 1896.
Deduct claims under
1895 policies paid in
1896
Deduct return premia, &c., &c. paid in 1895
$60,000.00
22,342.59
2,274.91 84,617.50
Balance of profit... $151,048.64 It is proposed to apportion this sum as follows: -$120,000 to shareholders as a final dividend of $6 per share for the year 1895; $19,198.64 as a bonus to contributors of premis, and the balance of $11,850 to the credit of reserve fund, which' will then stand at $886,850.
Capital account
Reserve fund
Accounts payable:-
Final dividend for 1895:
Bonus for 1895 and sundries. -38,858.71. Working account 1896:-
Balance at credit
LIT DECE
1898
A was
400,000.00 886,850.00
.$120,000.00
the 100
the
machinery. 18.
158,356.71
autumn of the
erected, inclusive of i
267,164.11
from $50,000 to $55,000.
81,712,370182
ASSETS.
$ 0. 26,811.49
.$160,000.00
Chartered Bank of India,
Cash at bankers.. Fixed deposits at banks:-
Hongkong & Shanghai Bank-
ing Corporation.
Australia, and China 100,000.00 Mercantile Bank of India, Ld. 70,000.00
Investments:-
.8104,945.67
Chinese Imperial Govern-
ment E. bouds Hongkong and Kowloon Wharf and Godown Co., Limited, debentures..... 100,000.00 Hongkong Club debentures... 50,000.00 Shanghai Land Investment
Co., Limited, debentures... 49,877.40 Shanghai and Hongkow Wharf Co., debentures.... Shanghai Waterworks Co., Limited, debentures.........
41,017.07
that the amount mentioned. be
account to strengthen the
property acco
the Company in view of the heavy expenditure necessary for new plant.
JARDINE, MATHESON & Co.
General Managers.
Hongkong, 29th January, 1897.
ABSETS.
*330,000.00
Property account
Extension scoount...
Invested in:-*
Hongkong Fire Insurance Company's share Canton Insurance Office's share ..... China Fire Insurance Company's share.. Debentures of Hongkong and Kowloon Wharf and Godown Company, Limited... Mortgage on property
Cash on hand..
Hongkong & Shanghai Band, current account Hongkong & Shanghai Bank, deposit account
00:00:
716.82
225.00
175.00
92.50
10,000.00
30,000.00
62.05
8,991.76
29,000.00
Outstanding accounts
2,688.04
8,472.22
Accounts receivable
1,173.81
Ice on hand
180.00
354.912.88
Coals on hand..
315.00
On properties in Hongkong...$827,200.00
On properties in Shanghai.
90,146.45
$180,608.98
On properties in Amoy
20,000.00
937,346.45
LIABILITIES.
Capital account
125,000.00
20,000.00
Accounts payable
Unclaimed dividend account
522.00
Aminonia reserve account
Profit and loss account....
600.00
Loans on mortgage:—
Inland lot No. 685:-
Assigned by mortgagor Hongkong Fire Insurance Co., Limited :----*
Four shares
Furniture account:-
Office furniture, &c. Accounts receivable:-
Premia due from agencies, interest due on deposits and investments, &c..............
6,638.32 506.18 1,695.35
46,769.13
$180,508.98
42,178.52
PROFIT AND LOSS ACCOUNT.
To salaries, wages, and general trade expenses $1,712,370.82 | To General Managers' commission....
To auditor's fee
20,823.08 2,000.00
100.00*
WORKING ACCOUNT, lər JANUARY TO 31ST DECEMBER, 1896. Dr.
22,923.08
0.
To charges account:—-
To interim dividend of 8 per cent. paid `on-
27th July, 1896. To balance
10,000.00
40,769.13
$27,080.10 7,400.00
$79,692.21-
34,480.40 | By balance brought forward from last year 21,334.45
$1,724.28
By receipts for ice during the year, value of
stook on hand, &c....
74,285,98
:
By rents received less Crown rents and taxes
624.19
paid......
1,392.89-
By interest...
2,223.06
66.00
$79,692.21
Rent, salaries, legal and ear. veyors fees, taxes, stamps, stationery, &c.
Directors' and auditors' fees
To commission account :----
Agents' commissions.
To fire brigades account:—
Contributions at agencies, &c........ To losses account 1896:-
Claims secruing to this year paid To amount written off :——
Furniture account... To balance
Cr.
By premium account-
Net amount of premia collected $274,095.63 Less re-insurances
By interest account:-
1896.-The figures for this year show gratify. ing results up to the present, the losses having been exceptionally light, whilst the income derived from premium and interest has in- oreased. It is not, however, proposed to pay an interim dividend as in former years but to carry forward the balance of $267,164.11 and to divide the profits of 1896 when they have actually been ascertained. In view of the fact that shareholders will now befreceiving the usual dividend of $6 per share the Directors trust that the scheme for placing the Company's By transfer fee account :--- accounts on a sounder basis will meet with their approval. Should this proposal be agreed to the profits of the year will be dealt with at the next annual meeting. The board hope the final results will then admit of their adding a sub. stantial sum to reserve fund, which would have been done on this occasion had the former method of distribution of profits been adhered to.
DIRECTORS.
29,099.48 By transfer fees..
50.00 267,164.11
$352,752.63
14.737.19
259,358.44
Amount at credit, including interest due on
deposits and investments, &e.
Amount at credit
93,198.14
201.05
$352,752.63
THE HONGKONG ICÈ COMPANY, LIMITED.
j
The following is the sixteenth annual report to be presented at the annual meeting to be held on the 6th February :-
RAUB.
The following is the mining manager's report for the four weeks ending 8th January, 1897
To the Directors of the Raub Australian Gold Mining Company, Limited.
Gentlemen, I have the honour to herewith forward you my report for the four weeks ending on the above date.
Raub Hole No. 2. Shaft.-Everything has been put in order in this section since it was flooded in November last, and surface drains have been made in order to, as far as possible, prevent a recurrence of these floods, but it is extremely difficult to prevent them owing to the low situation of the surface of the land around these shafts. No damage was done to any of the workings below. In the intermediate drive the winze, being sunk to connect this with the bottom level, has broken through. extent of the ore chute and give good ventila. This will enable me to work
Very large tion to this part of the mine. Work was resumed in the stopes over the intermediate drive on Monday last; there is still a good tent of good ore over this level to take out.
In the bottom level the drive now in over 300 ft. from the crosso
going south is We have not yet out the main ore chute in this $25,000.00 | level, but are expecting daily to
do 20,000.00 | formation is about 8 ft. wide, bnt 1,769.13 be seen in it. The orossout goin
in about 90 ft. from the shaft" in $46,769:13 | slate, and is making a little wate
Company's accounts for the year 1896.
Mr. C. 8. Sharp was invited to fill the yacancy on the Board, and on the departure of Mr. J.mitting to the shareholders a statement of the The General Managers have pleasure in sub. Kramer from the colony Mr. C. Beurmann was asked to take his place. These appointments require the confirmation of shareholders.
Mesars. McConachie and Sassoon retire by rotation, and being eligible offer themselves for
re-election.
+
AUDITORS.
Messrs. J. H, Cox and W. H. Potts have audited the annexed accounts and offer them. selves for re-election.
S. C. MICHAELSEN,`. Chairman.
Including $1,724.28 brought forward from last year, and after deducting $10,000 paid on 27th July last as an interim dividend of $2 per share, the balance at credit of profit and loss is $46,769.13, which it is recommended should be A final dividend of $5 per share appropriated as follows:-
To write off property socount To carry forward
No comments yet.
Private notes are available after approval.