370
reported, and in addition 1,793 messages were sent and 18 received.
190 hours of fog were reported from Gap Rock during the year, and the fog signal gun has been fired 1,203 times. On six occasions the fortnightly relief conld not be effected owing to the rough sea.
IMPORTS AND EXPORTS (Opium) office.
The return shows that during the year the amount of opium reported was as follows:--
1896. 1897. Increase. Decrease, chests. chests, chests. chosta 34,208 37,708 3,500 33,3851 35,808 2,422)
Imported
Exported
A
Through cargo
reported but 14,8385 13,7391 not lauded...
1,099
15,251 permits were issued from this Office during the year, being a decrease of 391 as compared with 1896.
A daily memo. of exports to Chinese ports was during the year supplied to the Com- missioner of Imperial Maritime Customs at Kowloon; and from the 1st June last, a daily memo. of exports to Macao was, at the request of the Superintendent of Raw Opium' Depart- ment of Macao, supplied to him.
Surprise visits were paid to 94 godowns during the year.
LIVELY DOINGS ON A BLITISH
STEAMER,
THROWING THE FURNITURE OVERBOARD.
Опа
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THE HONGKONG WEEKLY PRESS AND
THE NORTH CHINA INSURANCE
Co.,
LIMITED.
The sixth ordinary general meeting of the proprietors of this company was held at Shang- hai on the 28th April. Mr. D. Brand presided.
ધ
its way.
[May 7, 1898,
No questions being asked, the report and ac counts were passed, and a dividend of ten per cent, on the paid up capital plus a bonus of ten per cent. on contributory premiums declared.
HALL AND HOLTZ, LIMITED
The following is the report of the directors for presentation to the shareholders at the sixth ordinary general meeting to be held at the head office of the Company, Shanghai, to-day :-
The directors herewith submit to the share- holders the accounts of the Company for the. year ended 28th February, 1898.
In October last the Directors paid an interim dividend of $2 per share, leaving a balance at credit of Profit and Loss Account of $41,531.59, which they recommend should be disposed of as follows
Write off Fixtures and Ovens Carry to new account....
$12,500.00
20,000.00
3,000.00
6,031.59
$41,531.59
and to Transfer the $5,000 standing in the books as Depreciation Account to the credit of the Factory Building account.
Directors. In April last Mr. J. D. Clark was invited to join the Board during the absence of Mr. F. W. Such, and later on during Mr. Nazer's absence; this appointment requires your confirmation. Mr. Such retires in accord. ance with the Articles, but, being eligible, offers himself for re-election.
Anditor. The accounts have been andited by Mr. Geo. R. Corner, who retires, but offers himself for re-election.
F. W. SUCH, Chairman.
Shanghai, 16th April, 1898.
JELEBU MINING AND TRADING CO., LIMITED.
The Chairman said-The report and accounts have now been in your hands for some days, and I presume we may take them as read. Be ginning with the year 1896, the account I am sorry to say did not close very satisfactorily, resulting in a loss on our estimate of Tls, 21,164. This amount has been transferred to liability account, leaving a balance to credit of Tls 7,120 which with salvages to be received it is hoped will be sufficient to pay all expenses against the account. Coming to 1897 the direc- tors regret that they do not show a more bril- liant account than they do. But they are still very hopeful, taking into consideration what
A final dividend of $2 per share year 1897 has been for underwriting-Transfer to Reserve Fund... hopeful, I say, you will not look upon it as otherwise than a satisfactory account. Indeed it was full of promise up to the 31st December, but with the advent of the new year a change came over it and loss followed upon loss with startling rapidity. It is hardly neces- sary for me to recapitulate the particular names of the ships and vessels, etc., apon which we have lost, but I perhaps might mention three instances, viz: the Cromarty, the New Zealand steamer Mataura, and the Kobe fire. We took these on the modified lines accepted nowadays, and not our lines current ten or fifteen years ago. The Kobe fire was something unique in Here we had the honour of insuring cargo half-way round the world and seeing it burnt before our eyes at its destination. This loss at first seemed very serions, but gradually it got down to exceedingly moderate figures. until when I tell you it will not now exceed $10,000 or say £1,000, you will be of opinion that the company has got off fairly satisfactorily. Analysing the accounts somewhat in detail we find that the account for 1897 is a smaller account than the previous year, smaller by premiums by Tls. 169,038.08, but I am glad to say that the losses are on a proportionately reduced scale. Up to the 31st December we had paid in losses and claims Tls. 334,000 as against Tls. 504,000 the year previous, and we have carried forward Tls. 411,000 as against Tls. 376,000 in the previous year. Therefore with a much smaller account we have carried forward a much larger balance. Since these figures were published we bave further paid claims amounting to Tls. 96,905, and it is proposed to retain Tls. 162,226, to provide for outstanding losses and unexpired risks. This leaves a balance of Tls. 152,000, which the directors recommend be appropriated in the shape of a dividend of ten per cent on the paid-up capital and a bonus of ten per cent upon contributory premiums. As you are aware, interest on capital is a first charge on the company's profits, and another matter entitled to our fullest consideration is the question of con-
Jelebu Rin Lode.-The expenses for the half- tribntory premiums. We hope another year year, including the purchase of a sinking pump, we shall be able to return something more
amounted to $13,669, which, together with pre- substantial in the way of a bonus, and although vious expenditure, brings the total sum standing there has been for some time an outery that the
to the debit of the account to $21,726. Alto- rates are too low, yet except in Australia there gether about $44,000 have so far been spent on has been no tangible improvement so far. the lode though it only stands in the company's Coming to the details of working I don't think books at $21,726. That amount is considered a they require very much comment. The items good asset. As anticipated the lode, referred bear a very strong resemblance to the year to in last report as lost, has been recovered. previous. General charges are
fire The sinking of the shaft, though steadily pro- thousand odd taels lower than last year and this ceeding, made but slow progress owing to the is simply explained in regard to the staff-this hard nature of the ground met with during the year there have been fewer at home than last half-year. It is, however, being pushed with
When the year.
home staff is at
the all despatch. The general indications of the. under comes
the head of lode continue favourable. One of the directors remuneration general charges but when abroad it is (Mr. Jackson Millar), who has but recently re- charged to the particular office in which turned from Jelebu is highly satisfied with the they are located. London charges show work done and the prospects of successful lode- a considerable reduction, being Tls. 65,000 odd mining. as against Tls. 72,000 last year. Under this Bierk received a month's hard labour for re-heading I may safely promise a still greater fusing duty.
At the Harbour Office on 5th May, before the Hon. R. M. Rumsey, three German firemen named C. Rierk, Q. Schubert and A. Goltz were charged by Captain F. McNair, of the British steamer Queen Adelaide, with refusing duty, damaging ship's property, and assault.
Captain McNair said that the men shipped at Rotterdam last year for two years. voyage from Rangoon to Kobe in March last the chief engineer ordered them to get some ashes up and they refused to do so. They were taken before the captain and again refused. Later on in the day the ashes were got up, and one of the defendants carelessly let an ash shoot fall overboard. At Kobe one night the firemen and sailors came on board drunk and made a disturbance. They rushed the bridge. while complainant was undressing, He saw one man lying on the deck and the others were simply mad drunk. They tried to burst in the saloon door and also to break the saloon windows with a piece of wood. They threw a chair, a table, and a flower stand with six plants overboard. This conduct was kept up till after midnight. He identified the defendants as taking part in the row. Schn- bert was lying on the deck and witness went to see what was the matter with him. He then jumped up and struck witness. The defendants also unshipped a ventilator and threw it orer- board. Goltz was the ring leader, and refused duty besides losing the ash shoot. He led the row at Kobe and in throwing the furniture overboard. This was the first British port he had called at after leaving Kobe, and the ship sailed the day after the row, The Consul there told him to bring the case at the next British port.
Goltz said it was not his duty to get up the ashes of the donkey boiler and he refused." He owned up to the row in Kobe. It was true he took part in throwing the property overboard and he abused the officers because they abused him, and he thought that was quite right.
Schubert contended that removing the donkey boiler ashes was not his work and that was why he refused. As to striking the captain he was very drunk and knew nothing about it, He knew nothing about the ventilator either. There was a row in the foc'sle and he chucked, the bos'n out. Then somebody hit him and he
knew no more.
Schubert was ordered to forfeit £1 10s. from lis wages, as half the value of the ventilator to suffer fourteen days' hard labour for refusing duty and at the expiration of that term to do twelve works for assaulting the captain.
Goltz was also ordered to foreit £1 10s, and go to prison for fourteen days for refusing duty. He also was sentenced to twelve weeks' hard labour for throwing the ship's property over- board.
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some
reduction next year. On the other side ex- change account shows a credit of Tls. 29,674 which is practically the difference between the making up of the accounts to the 31st Decem- ber, 1896, and to the 31st December, 1897, the former being made up at 2s. 114d. and the latter at 2s. 8d. I don't think, gentlemen, I have any more to say. The figures speak for themselves, but if I have omited anything, I shall be only too happy to put it right on being questioned by the shareholders.
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The following report issued to the share- holders of the Jelebu Mining & Trading Co., Limited :-
Gentlemen, Your directors beg to submit a statement of the company's accounts for the period from 29th July, 1897, to 21st January, 1898, being the second half of the 9th year of the company's existence by the Chinese calendar. The working of the mines at Jelebu resulted in a net profit of $6,200. Operations in Maliwun left a loss of $6,640.. Therefore the result of the half-year is a loss of $440 which has been transferred to the debit of Profit and loss account.
Jelebu Alluvial.-This branch of the Com. pany's business in continued on safe lines and increased profits on a moderate scale may be expected for the future.
Maliwun. The concession expired during the half-year and has not been renewed yet. In view of the financial position of the com- pany, and with special regard to the demands likely to be made on the company's funds in connection with the development of the Rin Lode, your directors are of the opinion that no further money should be risked in Maliwun. But they are not without hopes that other per- sons may be found willing to take up the con- cession and to take over the realisable assets at a price. A resolution giving powers to make such an arrangement or in any other way to
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