254
In witness whereof the undersigned, duly authorised thereto by their respective Govern- ments, have signed the present agreement.
CLAUDE M. MACDONLD. PRINCE CHING (Senior Member of the
Tsung-li Yamên).
LIAO SHOU HENG (President of Board
of Punishments). Done at Peking in quadruplicate (four copies in English and four in Chinese) the first day of July in the year of our Lord eighteen hundred and ninety-eight, being the thirteenth day of the fifth moon of the twenty-fourth year of Kuang-hsü
THE ROYAL HONGKONG GOLF CLUB.
CAPTAIN'S CUP AND SILVER MEDAL FOR SEPTEMBER.
THE HONGKONG WEEKLY PRESS AND
The new wharf is being proceeded with, and it is hoped will be available for use in about 3 montbs.
The steamers of the Company have undergone the usual annual Government survey, and are all in efficient condition.
CONSULTING COMMITTEE,
Since the last general meeting Messrs. C. A. Tomes and A. Ross have resigned, and Messrs. R. Shewan and C. H. Thompson fill the vacan- cies. The Committee now consists of the Hon. J. J. Bell-Irving, Messrs. D. Gubbay, R. Shewan, and C. H. Thompson. In terms of the Articles of Association all these gentlemen retire, but, being eligible, offer themselves for re-election.
AUDITORS.
The present accounts have been audited by Messrs. J. H. Cox and W. H. Gaskell, who retire, but offer themselves for re-election,
DOUGLAS LAPRAIK & Co., General Managers.
|
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| September 24, 1898.
sion we will take them as read. You will have noticed that we have this year followed the lead of many other companies in not pub- lishing our working account, a copy of which is ou the table and you are of course very wel- come to see it. Before coming to the capital account I should like to mention that we have again been in the fortunate position to charge a good many repairs and improvements in our works to running expenditure. We have for instance lengthened our Tungkadoo Dock 45 feet, and entirely renewed our Old Dock pump house foundations. Our buildings, plant, etc., are all well kept up and in good working condition. Regarding our assets, we have given a few more details to meet a wish expressed by some of our shareholders. During the year about 10 mow of land adjoining our Cosmopoli tan Dock property was bought by ns at a rea- sonable figure, making a total area of 117 mow of new land, which cost us about Tls. 335 per mow only, inclusive of bunding and wall. Con- sidering that land close to ours was bought at about Tls. 650 per mow, this must be regarded as a first-class investment, and will increase in value as time goes on. Our old Lower 1,000,000.00 Dock property measures about 45 mow more. When our Mr. Twentyman was at home last
year, he purchased a new iron boiler shop, iron sheer legs to lift about 60 tons, and a lot of valuable machinery, which explains the increase of Tls. 65,678.82 in the items machinery, etc. Some of our shares in public companies were sold at a good profit, thus reducing the item shares and cost of Drumeltan by about Tls, 7,000. This vessel is now on her way back from New York, and has been doing very well 80 far. Sundry debtors Tls. 100,597.90 appears rather high, but as this item includes our ex- penditure on the Cosmopolitan Dock up to the 30th June last, this can easily be understood. The construction of this dock is getting on slowly, owing to the nature of the soil, but we are doing our almost to overcome the difficulties in connection with such an undertaking. If any shareholder has any questions to ask I shall 33,071.13 be pleased to answer them. 11,100.00
BALANCE SHEET for the YEAR ENDED 30TH JUNE, 1898. $ 0.
20,000 shares at 150 Reserve fund
There was a very good attendance on the links for the monthly competition. For the cup there were 28 entries and the pool attracted 26 members. Both events were won by the gallant Commander, who has been a most assi- duous player during his stay in Hongkong, and Capital account:- who has on former occasions very nearly scored "win" in this competition; to his great satis- faction and the general pleasure of members he has at last secured the medal, as a memento of many bardly contested games on our links, to take home with him on leaving the station tò- wards the end of the year. His runner-up played a very good game 51 and 43-only marred by an 8 at the seventh hole in his first round.
:ཡ
All the returns were sent in on the first day: Com. Taylor, R.N
914 11
80*
LIABILITIES.
Underwriting account of the Company Sundry accounts payable Unpaid dividends Unpaid bonus
Profit and loss account
ASSETS.
Value of the Co's steamers Hoi- loong, Formosa, Haitan, Thales, and Haimun Value of buoys and moorings at Swalow, Amoy, Tamsui, and
.$714,000.00
Lieut. Brooke, RN.
94
10
84*
Mr. J. F. A. Hastings, R.N. 102
15
87
Major Luke, R.M.Ï.İ..
100
11
89*
Hongkong, steam launch and sundry spare gear
3,951.41
Mr. W. J. Gresson
109. 18
91
Mr. W. J. Saunders...
103 11
92*
Mr. E. F. Mackay
Mr. T. A. Howe, R.I.C.
107 11 126 18
96*
108*
Material for new wharf at Hongkong Payments for steamer now building Loans on mortgage.
* Also entered for the Pool.
THE DOUGLAS STEAM-SHIP COM- PANY, LIMITED.
The following is the report for presentation to the shareholders at the fifteenth ordinary general meeting, to be held at the offices of the Company, on Tuesday, the 27th September,
at noon :-
The General Managers have now to submit their report on the fifteenth year's working of the Company ended 30th June, 1898. After paying all running expenses, premia of insur- ance, remuneration to consulting committee, and auditors' fees, there remains a nét profit of $226,714.46, and with the consent of the share- holders, it is proposed to appropriate this amount as follows.
To write off $48,185.46 from the book values of the Company's property on the 30th June last, less the amount of the Reserve Fund. being the equivalent of 8 per ceut. thereon, and to pay a dividend of 12 per cent. on the capital of the Company, which will absorb a further $120,000.00, and to transfer $58,529.00 to the credit of the Reserve Fund, which will then stand at $174,162,14,
The General Managers venture to hope that the result of the year's working must be con- sidered satisfactory by shareholders, especially in view of the high price ruling for coal during the whole year, the increase for this item being about $65,000.00 as compared with the previous 12th months.
115,633,14 39,906.69 33,445.14 36.00 138.00 226,714.46
$1,415,873.43
The Hongkong and Shanghai Banking Cor-
poration
Value of coal in stock
Freights due 30th June, 1898 Shares in public companies
Sundry accounts receivable from agencies, &c. Cash in hand
JUNĖ, 1898.
$
717,951.41 38,581.65 161,991.97 152,500.00
106,496.45
100,000.00 95,873.92 306.90
$1,415,873.43
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 3 TH To remuneration to General Managers for office
expenses, for 12 months
To remuneration to Consulting Committee for
12 months
To auditors' fees
To exchange account To charges account
To balanco
By profit on running the Company's steamors
to date
By profit on coals supplied to steamers Py interest on deposits account By interest on mortgages account
By bonuses received
By dividends on shares
By balance from Government for old wharf
in Hongkong
Steamer Namoa, difference between book value and amount realized under insurance policies
10,000.00
2,000.00 600.00 2,014.82
139.48 226,714.46
$241,468.50
$
182,625.82
Mr. Nils Moller asked what the gross earn- ings of the company had been. The Chairman in reply referred Mr. Moller to the working acconut which was laid on the table. T'here. being no further questions, it was proposed by Mr. Galles, seconded by Mr. Twentyman: That the report and accounts the Company for the year ending 30th August be adopted and approved, and that the directors be autho- rised to pay a dividend of Tls. 12 share to
per the shareholders on the rogister at this date.
Carried unanimously.
Proposed by Mr. C. Thorne, seconded by Mr. Nils Moller-That Mr. J. R. Twentyman be re-elected a director of the Company.
Carried unanimously.
Proposed by Mr. J. M Young, seconded by Mr. T. Pemberton:-That Messrs. G. R. Corner and W. H. Anderson be re-elected Auditors for the present year.
1,988. 3 This concluded the business of the meeting 2,984.31 and the proceedings closed with a vote of thanks 9,575.11 to the Chairman and Directors on the motion of Mr. G. W. Noël, seconded by Mr. C Thorne.
–N. C, Daily News.
1,448.2 3,469.84
277.25
40,000.00
- 241,468.56
THE PUNJOM MINING COMPANY; LIMITED.
The Secretary of the Panjom Mining Co., Limited, advises us that he has received the following progress report on work done at the Company's mines in Pahang during the month
MESSRS. S. C. FARNHAM & CO., LD. of August :-
North Drive.—Wo have continued this a får- The sixth annual general meeting of share-ther distance of 42 feet, making total lengthon holders in the above Company was held at course of lode 58 feet, 6 inches. The lode is de Shanghai ou the 14th September. Therefined and the stone is similar to the stone on the vere present Messrs. G. Galles (Chair-western chute at the 200 feet level; the value, nan), J. R. Twentyman, and D. Peebles (Direc- however, is the same as last reported. I intend tors). C. Thorne, J. M. Young, Nils Möller, T. continuing this drive further north. It will Cranston, G. R. Corner. F. A. Hanisch, E.
prove a lot of new ground and will go up ander Guillemyn, W. Taylor. P. Pilkington, G. W.
the bill prospected by the Kladdy tunnels. Noël, T. Pemberton, S. Groundwater, W. S. Jackson, D. Black, and H. Von Rücker (acting
It is with regret that the loss of the steamer Namou bas to be referred to; she was wrecked on the 3rd October last off the Cow's Horu Point whilst on her usual voyage from Amoy to Foochow. Her loss affects the Company's insurance fund to the extent at $19,477.81. To replace her it was decided to build another steamer of larger capacity and improved type, and, with the approval of the Consulting Com- mittee, a contract was placed with Messrs., David J. Dunlop & Co., of Port Glasgow. She is expected to arrive here about the end of De-Secretary). cember next.
The notice convening the meeting having
re-
To fill temporary requirements the Nanyang been read, was chartered, and, later on, the Kongbeng after The Chairman said-Gentlemen, our the expiration of the former's term of eugage-port and accounts have been in your hands meat.
for some time, and with
your permis.
South Drive No. 1.—We continued this a for- ther distance of 10 feet 6 inches, making total length on course of lode 120 feet, when work was discontinued owing to our getting close up to our East Drive. I did not think it advisable to break through at present as it would make the ground heavy at the junction of the drives. South Drive No. 2.-36 feet 6 inches was
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