60
THE HONGKONG LAND INVEST- MENT AND AGENCY CO.,
LIMITED.
The following is the ninth report of the Board of Directors to the ordinary meeting of shareholders to be held at the company's offices, Victoria buildings, at noon, on Friday, 28th January-
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THE HONGKONG WEEKLY PRESS AND THE KOWLOON LAND AND BUILD- `ING CO., LIMITED.
The following is the ninth report of the Board of Directors to the ordinary meeting of shareholders, to be held at the Company's offices, Victoria Buildings, at 3 p.m. on Friday 28th January:-
Gentlemen, The directors now submit to you Gentlemen, The Directors have now to sub- a statement of the affairs of the Company, and mit to you a General Statement of the Com-balance sheet for the year ending 31st Decem pany, and Balance Sheet for the year ending ber, 1897. 31st December, 1897.
The net profit for that period, including $56,559.49, balance brought forward from last account, after paying all charges, amount to $268,356,26. From this amount an interim dividend of $2.00 per share. has already been paid, and it is now proposed to pay a final dividend of $2.00 per share, making a total dividend of 8 per cent. per annum on the paid- up capital, and after writing off directors' and auditors' fees there remains a balance of $57,856.26 to be carried forward to the credit of a new Profit and Loss Account.
DIRECTORS.
Messrs. M. D. Ezekiel, D. R. Sassoon and S. G. Michaelsen having resigned their seats, Messrs. A. J. Raymond, D. Gubbay; and A. Haupt were invited to join the Board in their places respectively. These appointments now require confirmation.
AUDITORS.
The accounts have been audited by Mr. F. Henderson and Mr. A. Contts who now retire, but offer themselves for re-election.
J. J. BELL-IRVING,
Chairman.
Hongkong, 11th January, 1898.
31st Dec, 189
Paid-up capill
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The balance of profit and loss account for the year, after writing off all charges and expenses amounted to $6,324.40. The directors, there fore, recommend that a dividend of one dollar per-share be paid, which, after writing off the directors' and auditors' fees, will leave a balance of $164.40 to be carried forward to credit of a new profit and loss account.
DIRECTORS.
Messrs. E. Jones Hughes and J. H. Cox retire by rotation, but offer themselves for re- election.
AUDITORS..
The accounts have been audited by Messrs. Thos. Arnold and W, H. Gaskell, who retire, but offer themselves for re-election.
F. HENDERSON, Chairman. Hongkong, 14th January, 1898.
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BALANCE SHEET. LIABILITIES.
31st Dec., 1897. Authorised capital, 6,000 shares of $50 each----- 300,000, of which 5,960 allotted $30 each paid up,
Accounts payable,
Dividends outstanding,
Balance of profit and loss account,”
[January 27, 1898
to join the Board in his stead, and this appoint- ment now requires confirmation.
The Honourable C. P. Chater, C.M G., and Honourable J. J. Bell-Irving retire by rotation but offer themselves for re-election.
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AUDIT.
The accounts have been, audited by Mr. Fullarton Henderson who now retires and offers himself for re-election.
A. SHELTON HOOPER, Secretary to the Hongkong Land Investment & Agency Co., Ld., General Agents, The West Point Building Co., Limited. Hongkong, 11th January, 1898.
BALANCE SHEET TO 31st December, 1897.
LIABILITIES.
31st Dec, 1897. Paid-up capital..
The China Fire Insurance Co, Limited, mort
gage on the Company's property Accounts payable
Balance of profit and loss account
31st Dec., 1897, Cast of property Cash
Accounts receivable
500,000.00
110,00.00
688.58 17,061 06
$627,747.64
ASSETS.
0.
611,830.80 15,395.28
521.58
$627,747.61
PROFIT AND Loss ACCOUNT.
C.
31st Dec., 1897. To fire insurance ... To charges
Dr.
To Crown rent and rates
178,800.00
To repairs to buildings..
*. 397.20
To interest.
To commission to agents
To legal expenses
Directors' feea
Auditor's fee
1.
2,002 75 382.91 4,495.18 108 00 695.81 6,092.71
1,153:40
$500.00
50.00
612,10 6,324.40
$186,133.79
To balance to be appropriated as follows:-
Dividend of $1.25 per share ....15,625.00 Balance to be carried to new ac-
count
BALANCE SHEET,
LIABILITIES.
Reserve fund
Accounts payable
Balance of profit and loss account
$4,809,290.75
31st Dec., 1897. $. 2,500,000.00 Cash, 1,250,000.00 Cost of property,
ASSETS.
$ 3,152,17 182,042.17
C.
890,994.49 168,856.26
Accounts receivable,
949.45
1st Jan, 1897.
Cr.
$186,133.79 By balance brought forward
$:0,054.31
886 06
17,061.08.
.....
$31,991.82
$ 1,239,10 30,665.72 87 00
$31,991 82
REAT EAST ERNAND CALEDONIAN
GOLD MINING CO., LIMITED.
The following report has been received from the manager at the mines:-
Mount Macdonald, 31st December, 1897. My last report was dated 14th inst. Sincea then the Xmas holidays have greatly interfered with the progress of the work.
By renta
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Cash
Amount invested in property
Furniture account
Accounts reţõivable
31st Dec,
Amount advanced on mortgage
ASSETS.
$ 1,882.23 1,989,788.28
31st Dec., 1897.
PROFIT AND Loss AccouNT. Dr.
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By scrip fees
$ C.
To charges,
342.49
To Crown rent and rates,
.2,774,866.32
To fire insurance,
1,688 00 .2.2.73
8,718.79 39,535.13
To commission to agents,
82-46!
To repairs,
662.00
$4,809,290.75
To balance to be appropriated as 1. "ows --
Dividend of $1.00 per share, $5,960,00 Directors' Fees,
130.00
Auditors' Feee,
50:00
PROFIT AND Loss Account.
30th June, 1897.
Dr.
$
To be carried to new profit and loss
account,
364 40
To interim dividend of 4 per cent. for the
6,324.40
half-year
100,000,00
31st Deo., 1897.
To charges account, including legal expenses 21,926.347
To repairs to house property
12,690.58
To advertising account..
418 75
1st Jan., 1897.
Cr.
$
c.
To fire insurance account..
5,889.80
By balance brought forward,
266.12
To balance to be appropriated as follows:
3 st Dgo.. 1897.
Directors fees..
5,000.00.
By rents,
Managing directors' fees
5,000.00
By interest,..
Auditors fees
500.00
By scrip fees,
Final dividend of 4 per cent.
for the half-year
100,000.00
Balance to be carried to new
account....
57,856.26
188,356.26
$309,261.73
$
C.
56,559.49
Less-Interest on loans payable 47 977.70
1st Jan., 1897.
Cr.
By undivided profits, 1896
31st Dec, 1897 -
By interest on mortgages
$148,796.40
By rent account
By commission account
By scrip fees....
By profit on sale of properties
31st Deo, 1897.
RESERVE FUND.
To balance
1st Jan,, 1897.
By balance
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By profit on sale of debentures of the Hong- kong and Kowloon Wharf and Godown Co., Ld.,
Prospecting Shaft Gold Lease 37 has reached a depth of 58 feet from the surface. The reef formation still extends from hanging to foot 9,193.59 | wall and consists of quartz and mullock mixed
138.74 with no free gold so far.
32.00
423.86
$10,054.31
The Great Eastern Main Shaft is now down to 96 feet from the top set of timber or 104 feet from the brace. This is very satisfactory indeed and I trust that we shall reach the 200 feet by end of March, when we shall go for the reefs. At present the ground shoots splendidly and I hope that our calculations will not be
THE WEST POINT BUILDING CO., upset by harder ground.
LIMITED,
Zulu Main Shaft will have to be continued in its old underlie, as the water is getting too strong and the angle too awkward to work in; we shall, ̈· if the formation does not cut back again, crosscut for it later on. At present we are busy breaking the five tons for shipment to Germany; we have nearly all at grass and splendid stone it looks, too, with free gold showing often, every bit as Gentlemen,The General Agents now sub-good as the stone which yielded 4 ounces by mit to you a statement of the affairs of the Company, and Balance Sheet for the year end- ing 31st December, 1897.
The following is the ninth report of the
·100,818.70
General Agents to the ordinary meeting of 127,897.19 shareholders, to be held at the Company's Office, 9,146.98 Victoria Buildings, at 11.30 a.m. on Friday,
227.00 28th January 14,613.37
$309,261:73
$ C. 1,250,000.00
The net profits for the year, including the amount brought forward from the previous 1,250,000.00 year, amount to $17,061.06, and after writing off director's and auditor's fees, it is proposed
assay in Sydney.
The Caledonian Main Shaft is on softer ground at present. The measured depth to-day is 66 feet from the top timber, or 72 feet from the surface, so that we shall not be long in reaching 100 feet here also.
A small reef is coming in, but whether it will
roy Chang despatch reports that the Vice- to pay a dividend of one dollar and twenty-make into something remains to be seen.
Chih-tang has been empowered from Peking to raise a force of some 30,000 men, to be drilled by British officers, The personnel of the new corps will be picked men from Kiang. peh (Kiangen), Ningpo (Chekiang), and Weihni
Honan).-N. C. Daily News,
five cents per share, and to carry forward the balance of $886.06 to credit of new Profit and Loss Account.
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DIRECTORS.
Mr. M. D. Ezekiel having resigned on leay- ing the colony, Mr. A.J. Raymond was invited
In breaking the five (5) tons from the Cale- donian for shipment to Germany, the old drive at the 50 feet level in the old main shaft had to be cleared a little, revealing, the large lode to better extent than when I could examine it in September. It is fully 6 feet. wide and
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