74
AUDITORS.
The accounts have been audited by Mr. F. Henderson and Mr. J. C. Peter (in place of Mr. A, Coutts who resigned). Messrs. Hender- son and Peter now retire but offer themselves for re-election.
J. J. BELL-IRVING, Chairman.
Hongkong, 12th January, 1899.
Bist Deo., 1898.
BALANCE SHEET. LIABILITIES.
Paid-up capital
Reserve fund
Accounts payable
Balance of profit and loss account
Bist Deo, 1898.
Cash
ASSETS.
Amount advanced on mortgage
Amount invested in property
Furniture Bccount
Accounts receivable
80th June, 1898.
PROFIT AND Loss ACCOUNT, Dr.
31st Decemier.
THE HONGKONG WEEKLY PRESS AND
its property to the China Fire Insurance Co., which was done when money was fairly plenti. ful and so we were enabled to obtain the loan at 5 per cent. interest, and so long as we were able to obtain those favourable terms it was not to the advantage of the shareholders that the balance of the capital should be called up. This mortgage, is about to expire and, as money has become scarcer, we have not been able to raise a new loan or renew the existing one except at a much higher rate of interest. Your directors, $ 0. therefore, with not only the concurrence but at 2,500,000.00 the express wish of some of the principal 1,250,000.00 shareholders, have made the call, which is
262,368,53
payable on or before 1st March next, feel 228,464.93
ing sure that such a course will commend $4,240,873.46
itself to the entire body of shareholders. Before moving the adoption of the report I shall be pleased to answer any questions.
$
..
2,896.69 1,214,200.00 No questions being asked the report was 2,989,400.76 adopted, on the motion of the CHAIRMAN,
4,191.52 seconded by Mr. GooSMAN. The latter re 30,129.49
marked that they had had a very interesting $4,240,818.46
speech from the Chairman, and he was sure they all concurred with what he had said.
To interim dividend of 4 per cent. for the
half-year..
100,000.00
To charges account, including legal expenses 23,934.99 To repairs to house property
16.827.80 431,35 6,673.19
To advertising account
To fire insurance account
To balance to be appropriated as follows:-
Directors' fees
$ 5,000.00
Managing directors'
fees
5,000.00
Auditors' fees
600.00
Final dividend of 6 per cent. for
the half-year
150,000.00
Balance to be carried to new
a cogunt
67,854.93
1st Jan, 1898.
Cr.
By undivided profits, 1897
B1st December.
Interest on mortgages
By rent account
By commission account
By scrip fees
-127,773.76
Less-Interest on loans payable 33,720.75
By profit on sale of properties
RESERVE FUND.
8let Dec., 1898.
To balance
1st Jan., 1898. By balance
On the motion of Mr. BAILEY, seconded by Mr. VERNON, Messrs. Sharp and Raymond were re-elected directors.
On the motion of Mr. SHEWAN, seconded by Mr. LEIGH, Mr. Fullarton Henderson was re- elected auditor.
The CHAIRMAN then announced that this was all the business and that the dividend war- rants would be ready on the 27th,
The following is the report of the General Agents :-
Gentlemen, The General Agents now sub- mit to you a statement of the affairs of the 228,454.93
Company, and balance sheet for the year end- $376,222.26 ing 31st December, 1898.
0.
$ 57,856.26
74,047.01 166,717.52 8,499.76 -149.00 68,952.71
$376,222.26
* 1,250,000.00
1,250,000.00 A. SHELTON HOOPER, Secretary.
WEST POINT BUILDIN › COMPANY, LIMITED.
On the 26th January the 10th ordinary meet- ing of shareholders in the above company was held at the company's offices, Victoris Build- ings, for the purpose of receiving the report of the directors together with statement of ac- counts for the year ending 31st December, 1898. The Hon. C. P. Chater presided, and the other directors present were the Hon. J. J. Bell- Irving, Mr. C. S. Sharp, and Mr. A. J. Raymond. There were also present Messrs. J. Goosman, E. A. Hardoon, W S. Bailey, J. C. Dos Remedios, A. Haupt, R. Shewan, R. K. Leigh, J. Y. Vernon, A. Shelton Hooper (seoretary).
3
The SECRETARY read the notice convening the meeting.
The CHAIRMAN said-Gentlemen, with your permission the report and accounts which have been with you for some days 1 take as read. Our gross earnings for the past year have been $32,423.53, as against $30,752.72 for 1897, whilst our expenditure has been increased by the sum of 8968,89. Our net profits for the year's work- ing amount to $16,523.88, as against $15,821.96 for that of the previous year, notwithstanding that there was an increase of over $1,200 in the item of repairs, the other charges remaining practically the same. The amount of rents for the year shows an increase of $1,732.81. There were 10 floors vacant at the date of closing our accounts, with an estimated rental of $247 per month, as against 26 vacant floors last year, at a rental of $398. I will now refer to the recent notice which you have ali received, calling up the balance of the capital, namely $10 per share. For some time past this company has mortgaged
The net profits for the year, including the amount brought forward fr. in the previous year, amount to $17,409.94, and after writing off directors' and auditor's fees, it is proposed to pay a dividend of $1.25 per share, and to carry forward the balance of $1,2 494 to credit of new profit and loss account.
DIRECTORS,
Messrs. C. S. Sharp and A. J. Raymond retire by rotation, but offer themselves for re-election.
AUDIT.
The accounts have beeu andited by Mr. Ful- larton Henderson who now retires but offers himself re-election.
A. SHELTON HOOPER, Secretary to the Hongkong Land Investment & Agency Co., Ld., General Agents for the West Point Building Co., Limited. Hongkong, 16th January, 1899.
BALANCE SHEET, 31ST DECEMBER, 1898. LIABILITIES
31st Dec., 1898. Paid-up capital The China Fire Insurance Company, Limited,
mortgage on the company's property Accounts payable
Balance of profit and loss account
0
$
500,000.00
110,000.00
878.82 17,409.94
ÁSSETS.
628,283.76
611,830.80 16,034.93 418.03
$628,283.76
Profit and Loss AccounT Dr.
S1st Dec, 1898. Cost of property Cash Accounts receivable
31st Dec., 1899. To fire insurance To charges
To Crown rent and rates To legal expenses To repairs to buildings To interest
To commission to agents
To balance to be appropriated as follows:-
Directors' fees
Auditor's fee
Dividend of 1.25 per share ... Balance to be carried to new ac-
count
Cr.
1st Jan., 1898. By balance brought forward 31st Deo., :898 By rents By scrip fees
[January 28, 1890,
THE KOWLOON LAND AND BUILD.
ING COMPANY, LIMITED.
The following is the tenth 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 Wednes day, 1st February -
Gentlemen,-The Directors now submit to you a statement of the affairs of the company, and balance sheet for the year ending 31st- December, 1898.
The balance of profit and loss account for the year, after writing off all charges and expenses, amounted to $6,710.70. The Diree- tors, therefore, recommend that a dividend of one dollar per share be paid, which, after writ ing off the Directors' and Auditors' Fees, will leave a balance of $550.70 to be carried forward to credit of a new Profit and Loss Account, vä
DIRECTORS,
Messrs. F. Henderson and J. Goosmann 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, 17th January, 1899,
BALANOH · SHEET TO 81ST DECEMBER, 1898. 31st Deo., 1808.
IJABILITIES.
Authorised capital, 8,000 shares of $50 each $300,000, of which 5,960 allotted $80 each paid up.... Accounts payable Dividends outstanding
Balance of profit and loss account
31st Deo., 1898. Cash Cost of property Accounts receivable
31st Dec., 1808 To chargea
178,800.00 194.77
04.10
6,710.70
$186,400.57
AMETE.
$,409.24 152,082.17 988.16
$186,400.57
PROFIT AND Loss Account. Dr.
To Crown rent and rates
To fire insurance
To commission to agents
'lo repairs
-༞༞༞ ན་
To balance to be appropriated as follows :----
Dividend of $1 per share
373.45 1,889.10-
263.81
634.17
920.67
$5,960.00
Directors' fees
Auditors' fees
150,00 50.00
To be carried to new profit and
loss account
550.70
6,710.10
£10,791.38
164.40
10,692.06 -10.82 24.00
$10,791.86
1st Jan., 1898.
Cr.
By balance brought forward
31st Dec., 1898.
By rents
By interest
By scrip fess
Q.
THE HONGKONG, CANTON, AND MAÇÃO STEAM-BOA1ˆ ̃CÓ,
LIMITED -
The following is the report of the Board of Directors to the ordinary half-yearly meeting of shareholders to be held at the office of the 2,002.75 Company, on Monday, 30th January, at noon --
The directors beg to submit to the share- holders the report and statement of accounts for the half-year ending 31st December last,
403.78
After paying running expenses, salaries, premia of insurance, repairs, and all other out goings, there remains, including $35,165.16 brought forward from last account, the sum of $147,1 2.47 at credit of profit and loss account. From this amount the Directors recommend tlat a dividend for the half-year of 8 per cent on capital, or $96,000, be paid to shareholders, and that 5 per cent or $43,112,50 be written off $33,309.59 the book value of steamers and launches, leav
$ e.ing a balance of $7,989.97, to be carried for- 886.06 ward to new account.
32,398.53 25.00
17,409.94
$63,309,50
The steamers' earnings compare favourably with those of the corresponding six months of 1897, the net result showing an improvement of about $81,000.
4,487.74
6.60
1,924.27
6,913.64 1,180.92
$ 500.00 50.00 15,625,00
1,234.94
No comments yet.
Private notes are available after approval.