The-Hong-Kong-Weekly-Press-1897-03-11 — Page 18

THE

GKONG WA

HSS AND

The

then

HI CHINA AND SHIP 00.

he

To the

ruth

time the

and disore THE HONGKONG RUPT MANUFAC

earn

Bave and

any have

hardly be

that on

can the

ving, we

com-

He with abundance with many a man since Solomon's tify, who has found out that the of pursuit is often far greater than,

success

? It is to be used, and if used well, has much of it will have enough to do. eful using it will naturally increase, and. this is no longer necessary or desirable, what a supreme joy to be the means of helping others This also needs great pains-taking and care and rich man can find no better · occupation, towards the close of life, than being thus his own executor. The love of money is truly the root of all evil. It contributed, nearly 2,000 years ago, to the most wicked murder recorded in history. It must not then be loved. But what a power for ood. It is the handmaid of music, art, science, and philosophy. It is the incentive to dis- covery. It is the means of securing co-opera- tion the accomplishment of the great works which are the wonder of the world. It in all pervading, like atmospheric pressure. It is the most powerful and effective instru ment which has ever been discovered for over- coming the vis inertia of matter and of men. It is the grand solvent of creation: the lubri cant of all the machinery of life: the universal motive of mankind the means of war and hate, and the power of peace and love. Thanks: to the laborious self-denying and thrifty habits of a

of her people, money is the haracterestio power of the British

to

Her wealthy sons, it has been said, "have but to touch a spring in London to produce a vibration throughout the world, to quicken the march of armies, to frustrate the of kings and statesmen, and per noble exploits of modern times- ose great ocean canals and railways" (and

add telegraphs) which bind. togeth the families of men.”

Mr. Chairman, let us thank God for our money, the sinews of her strength, firmly believe is ranged on the side

truth liberty and peace; and pray beloved Queen and her advisers may inely gui in the use of Britain's

promotion of the best interests

conclusion of Mr. Sharp's

o's lecture said he was sure everyone: ith great attention and great| lecture. Mr. Sharp had given excellent advice which he ker) hoped none would be too old to

fool could ma #money,

good fellow

TURING CO., LIMITED.

The following is the

to the shareholders at the thir general meeting to be held at

pres

General Managers on Monday, 15th

Annexed we have the pleasure to la shareholders the annual statement of accounts made up to the 31st December, 1896.

The net profit, including the balance brought forward from last year, amounts to $71,358.93, which it is proposed to appropriate as follows: To pay a dividend of 20 per cent. $50,000.00. To carry forward to next year's garage

account 2 tu buah b. 121 553.98. In accordance with the intention expressed in the report presented last year, extraordinary meetings were held on the 21st March and 6th April last and the capital raised to $250,000 by transferring $100,000 from the reserve. ~~|

By the reading of Art. XVI as amended last year no permission is given the General Managers to write off anything for 1896 for depreciation, or to set aside anything to reserve. This accounts for the large sum that must be carried forward.

CONSULTING COMMITTEE.

In accordance with the Articles of Associa tion, Messrs. Gillies, Lewis, Ezekiel, and Tomes retire, but offer themselves for re-election. Mr. C. A. Tomes was appointed when Mr. Shewan took his leave.

AUDITORS..

The accounts have been audited by Messrs. T. Arnold and F. Henderson, who are recom- mended for re-election.

SHEWAN, TOMES & CO.

General Managers. Hongkong, 2nd March, 1897.

PROFIT AND Loss Account, for the year 1896. Consulting Committee's fee............... Auditors' fee ......... Balance

Balance brought forward from 1895......... Interest and dividends on investments

Exchange

Balance of working account

Cost of land, as in last account

Additional purchase in 1896–

Value of factory, machinery, de,

as in last account

To

forward

The two running con mishap and

fre

first-h returns were

on quar

the rebellion. October, but the

pres

and sis

effect upon Chinese tra

8000

10 articles Messrs. Gillies, Siebs, Ezekiel, and retire, but offer themselves for

ciation

A Tomes was appointed when Mr. R. Shewan took his

AUDITORS.

The accounts have been audited by J. H. Cox and T. Arnold. Mesars. Arnold are eligible for re-election:

SHEWAN, LOMES & CO

General Managers,

Hongkong, 4th March, 1897

„PROFIT ANDĚLOS: Consulting Com Auditors fé

FOR THE YE 1899

$2,000.00

Charges acco

300.00 Amount written

71,353.93

Balance

$73,653.93

3.486.08 6,960:46: 21.68.

Balance broug Profit on work

forward from 1895

teamers “smeralda

63,185.71

Profit on store

$79,853.93

Bro

transferre from

debta

BALANCE SHEET.

ASHE-TE.

$20,000.00 30,000.00

50,000.00

$95,000.00 29,800.37

124,800.37 64,988.00

$47,575.26 21,637.32

Machinery purchased in 1896

Value of rope, hemp, &c. in godown.... Value of rope on consignment

Less advances on same

Fire insurance premis account 1897-A.AKA Hongkong and Shanghai Banking Corpora

tion, current deposit... Cash on hand. Cash at factory. Sundry debtors

Investment in shares of local companies, at

cost, vis

300 shares Hongkong Land Investment

and Agency Co., Limited.

130 shares China Traders Insurance

50 ah

200

moh

shares Hongkong and Whampoa

ase-Insurance - Association

las Steamship Co., Limited

di Zafiro

Dividend on ctional certificat

Interest and dividends on in

BALANCE SHEET

ASSETS.

ten of

$220,000:00:

$25,000

is per last statem Less depres

25,037.94 Vali of buoya and moorings

559.07

and Hon

Less depreci

979

Value of Blue.Of

on

Hongk Cashcon Invest

Steamsh

400.00

000