1
י
200.
It is a great pity that the above named travellers have said so little about the physical features of the country in the reports of their journeys, but perhaps the monotonous level nature of the land left them little to say. Salt lakes undoubtedly exist in this area, but they only testify to its age, geologically speaking, not to its sterileness.
It is to be hoped future travellers over this area, destined to be a commercial highway when spanned by railways, will give us more informa- tion as to the nature of the soil as well as its inhabitants..
GERMANY AND THE PERSIAN GULF.
[CONTRIBUTED.]
THE HONGKONG WEEKLY PRESS AND
Now that German interests are growing up so rapidly in Asia Minor and in the Far East German political leaders cannot but view with ap- prehension the attempt by France and Russia to join hands through Persis and thus cut off all pos. sible communication by land between Germany's field of influence in Syria and that in China. They will also naturally object to have the possible Euphrates Valley Railway controlled by either of Germany's hereditary enemies. Such being the case, Germany will probably do what she can to guarantee the integrity of Persia and the neutrality of the Persian Gulf. It is not impossible that Prince Henry on his return to Europe may find reason to visit the Shah of Persia and inform him of the desire of his august brother that the ancient kingdom of Persia should be assured against absorption by Russia.
He goes shortly to Pakhoi, where he will minis. ter to the Christian congregation, and continue his literary work.
We regret to say that during the month of February there were two occasions when the Cathedral was forcibly entered at night, and some silver and brass vessels stolen. A whole set of Communion Plate in silver, used at Parade Service, and a Font Ewer in brass be- longing to the Cathedral were taken away. We must look to it that we do not lose more valuable things: a better watch must be kept, and the shutters need renewal and repair.
THE HONGKONG HOTEL CO., LIMITED.
The following is the report of the Board of Directors for presentation at the ordinary meeting of shareholders, to be held at the Company's Hotel, on Tuesday, the 14th March,
at noon :-
To the shareholders of the Hongkong Hotel
Company, Limited.
Gentlemen,-In accordance with section 53 of the Company's Articles of Association, the Directors beg to submit to the shareholders their half-yearly report for the six months ended the 31st December, 1898.
ACCOUNTS.
Remaining portion of marine.
lot No. 7
Prays Reclamation,
as per last report. 20,783.04 Praya Reclamation, since added, being 5th instalment of
17) per cent. paid
[March 11, 1899.
408,157.26
+
o Government
1,647.98
22,481.02
848,111,82
Value of furniture and fixtures
as per last report Less written off, as recom-
mended in last report.......
99,163.59
10,000.00
89,158.59
Since added...
14,287.39
10.8440,88
Stock of wines, &c., provisions, household
sundries, coal, and stationery
27,282.62
2,000.00
7,033.81
623.00
160.00 1,817.94
Steam launch
Shares in public companies
Licences attaching to 1899 Suspense account
Accounts receivable
Hongkong & Shanghai Banking Corporation 28,474.85 Hongkong and Shanghai Banking Corpora
Hon No. 2 account
1,527.80 Cash in hand
280.01
$1,028,248.28
PROFIT AND Loss Account FOR THE SEX MONTHS ENDING 318 DECEMBER, 1898.
To rates
To interest on mortgage
Dr.
The profit on working account for the half-To bad debts and refunds attaching to 1897-1698 year amounted to $62,809.94, as compared with $30,448.65 for the corresponding six months of 1897, showing an increase of $32,361.29, or of $38,699.18 over the net profits on the working account for the same period of 1896.
The profit and loss account, including a cred- it balance of $24,805.94 brought forward from INSTITUTION Of engineers aND 30th June, 1898, shows a credit balance of
SHIPBUILDERS OF HONGKONG,
PROPOSED CHANGE OF ROOMS.
On Saturday evening an extraordinary gen- eral meeting of members of the Institution of Engineers and Shipbuilders of Hongkong was held for the purpose of considering a proposal to remove to other and more convenient pre- mises. There was a good attendance. Mr. D. Gillies (President of the Institution) occupied the chair, and he was supported by Mr. J. W. Kinghorn (chairman of the committee) and Mr. W. S. Bailey (hon. seoretary).
The CHAIRMAN explained the object for which the meeting had been called and dealt with the inconvenience of the present premises. Headded that the committee had inspected a great many buildings in Hong kong, and had come to the conclusion that none of the buildings they had seen would suit their purpose better than the premises now occupied by Messrs. Siemssen and Co. They proposed to take a lease of the first floor. The site of the new premises had everything to recommend it. In conclusion he proposed: That the managing committee of this Institute be and is hereby empowered to lease the premises now occupied by Messrs. Siemssen and Co. from Mr. Chater at the monthly rental of $350 and to make the best arrangements possible for sub-letting the
pre- sent rooms to one or more suitable tenauta.
Mr. RAMSEY seconded, and after a somewhat lengthy discussion the resolution was carried | unanimously.
CHURCH NOTES.
The following items are taken from the monthly "Notes" issued by the Rev. R. F. Cobbold, chaplain of St. John's Cathedral:—
The Rev. F. T. Johnson arrived from Eng- land on February 28th. He comes to take up the work of Assistant Chaplain. We welcome him amongst us, and trust that his life and work here may be a blessing to himself and to those to whom he ministers.
We are glad to hear that steps are being taken for the appointment of an additional Chaplain whose duty it will be to minister to the Church people in Canton and other Treaty Ports in Southern China, where, for a long time, no provision of the kind has been made.
The Bishop of Victoria goes to Foochow soon after Easter.
Bishop Burdon, some time Bishop of Vistoria, has been staying in Hongkong, working at a Revision of the New Testament in Chinese.
$56,900.76, as compared with $33,078.17 for the same period 1897.
Your Directors propose to deal with the ba lance of 856,900.76 as follows;- To set aside against repairs and
renewals ...
To
To write off furniture and fixtures pay a final dividend of 6 per cent.
for the half-year, absorbing To place to reserve fund To carry forward to new account
To directors' and auditors' fees To are insurance To Crown rent
To bonus to directors
245.65 2,840.50 .16,082.19
1,650.00
1,098.95
866.89
114
6,000.00
To cost of special repairs and painting of build-
ing
To balance, which the directors propose to deal
with as follows:
To set aside against repairs and re-
14,898.94
newals
$ 6,000.00 8,440.88
26,687.00 15,000.00 To carry forward to new account .. 822.88
6,000.00 To write off furniture and fixtures 8,440.88 To dividend of 6 per cent.... To reserve fund
-56,900.76
26,637.00
$98,582.88
15,000.00
822.88
$56,900.76
The dividend, with the 4 per cent. paid for the previous half-year, gives a return of 10 per cent. on paid up capital for the year.
The stock of furniture has been still further
augmented during the past half-year, and the in previous half-years, has been fixed upon for amount written off, though somewhat less than
the purpose of placing the amount in round figures at $95,000.
BUSINESS.
The business of the Hotel during the past six months has shown a gratifying increase in every department.
STAFF.
Mr. H. Haynes was appointed manager in place of Mr. Death on the 12th November, 1898.
DIRECTORS,
Messrs. R. C. Wilcox and W. Parfitt retire by rotation, but offer themselves for re-election.
AUDIT.
The accounts have been audited by Messrs. W. H. Potts and W. H. Gaskell, whose re-elec- tion is recommended.
R. CHATTERTON WILCOX,
Chairman. Hongkong, 3rd March, 1899.
BALANCE SHEEt, 31st DecemBER, 1898.
LIABILITIES.
OF-
Capital...
8.879 shares at $50 each (fully paid up).. Hongkong and Shanghai Banking
poration, fired loan account Accounts payable
Unclaimed dividends
Balance at credit of repairs and renewals
sooount
Profit and loss socount
>
ASSETS.
443,950.00
500,000.00 24,050.36
Or.
By balance from 80th June, 1898 ...$58,583.94
Lees dividend of 4 per
oont...
Lees written off furniture
and fixtures
.$17,758.00
10,000.00
Less amount set aside for
repairs and renewals 6,000.00
By rents of shops and offices, new
building..
By rents of shops and offices, old
building.....
83,758.00
-24,805.94
2,880.00
7,702.00
10,872.00
296.00
.62,809.94
$98,682.88
By dividends on shares By profit on hotel working account for six months
ending 81st December, 1898
Repairs and Raxxwals AccOUNT.
Dr.
To payments on account of repairs and renewals during the half year ending 31st December, 1898
To balance....
0.
4,191.60
1,849.62
$6,041.22
By amount set aside from profit and loss sccount 8,000.00 By refunds...
41.22
$8,041.22
The N. C. Daily News of the 3rd March says:-The barque Elsa, which got ashore on the Middle Ground on the 14th nlt., as mentioned in a previous issue, is to be sold on Monday next 1,497.50 by public auotion. She left Paget Sound with 600,000 sup. feet of lumber, and is consigned to 1,849.62 | Messrs. Schults & Co. Some 20,000 ft. have 56,900.76❘ been jettisoned, and from 150 to 160,000 ft. dis- charged. Her mainmast is gone by the board, ₹1,028,348.33 | and she now lies, hogged, scross the tide in an exposed position, making about 4 inches of water per hour. Every effort has been made to get her off, and now there is no chance of doing so without discharging the remainder of her cargo.
Value of land and building sa per last report:
Marine lot No. 5, and remain- ing portion of marine lot
No. 3...
412,528.04
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