16
Mr. G.H, Potts's Minstrels, 11st 8lb
THE HONGKONG WEEKLY PRESS AND
1
(Mr. Bruce) 0 ONE MILE HANDICAP; for China poines; entrance. $3; first prize, cup, presented by the Hon. J J. Keswick; second prize, $25. Mr. Gray's Tube Roso. 118t51bs(Mr. Gresson) Mr. Walwyn's Queensberry. 1st 1lb (Owner) Mr. G. HI. Potts Tocsin, 11st 10lbs (Mr. Cox) Hou! F. H; May's Montebello, 11st (Owner) 0 Capt. Rickmans Yellow Dwarf, at 5lbs
(Mr. Johnson} }) Mr. Kelly's Sirdar, 11st (Mr. Cruickshank) 0 Major Sir H.W McMahon's Sufan, 10st. 13lbs
(Cpt Geoghegan) Q
INDO CHINA STRAM NAVIGATION
ÇO., LIMHED,
The following is the seventeenth annual report of the board of directors of the Indo China Steam Navigation Company. Limited, presented to the shareholders at the eighteenth ordinary general meeting, held at the Office of the Company on the 8th June, 1899:--
BALANCE SHEET, Bist DECEMBER, 1898.
LIABILITIES.
To share capital:-Authorised £1,200,000, firat iesue 60,000 ench £10, whereof 40,588 Fubscribed and fully paid up To balance of underwriting uccount To suudry ereditors in London and (bina To loans ...
By steamships, hulks ferry
boats, &c.
Less depreciation writton
off for this year!
(i bis includes the value of steamer Kow
Shing, claimed from the chinese Go- ment.]
A
By coals and provisions on board ships and
in godowns
By office furniture By.Bundry debtors i
£ s. d.
[July 1, 1899.
H. L. DALRYMPLE, Chairman.
AUDITORS.
The Accounts have been audited by Messrs. G. Stewart and J. C, Peter, who themselves for re-election.
Hồngkong, 19th, June, 1899,
Stathment of Accounts To APRIL 30TH, 899.
1: LIABILITIES.
2
495,890.00 135,601 2 5 15,231.11 7
66,270 0.0
3
To exchange reserve account
To balance from revenue account
8,9 9 4 11 68,868 17 3
£775,880 18 2
Capital:-
29,448 shares, each $10 pald up $294,460.00
ASSETS.
£ a d
554 shares, each 88 paid up
4,432.00
298,892.0->
£ 8. d 686,618 6 7
43,440 4 T
Sundry creditors
4,094.17
Bills payable
1,885.01
Dividends unclaimed
2,211.40
Balance of profit and loss account.
39,381.42
643,178 2 6
$48,8.4.00
ASSETS.
8
10,645-19 6 70 0 0
.15,446 2 6 6,320 11 8
Plant, cost of, as per last nocount $.95,:50.58 Less amount provided for depre-
ciation
16,000.00
$180,150.5%
Cost of plant since added
37,203.80
217,354.33
£775,660 16 2
Property, cost of land and buildings
60,607:35
Installation material, stock of
22,120.10
REVENUE ACCOUNT.
Stores and coal, stock of
17,105.74
Dr.
£ s. d.
5,040 4 4 4,126 7 9
Tools. &c., on hand
11,423.75
Furniture, cost of, as per last account $575.10 Less amount provided for depreciation 475.10
100.00
Insurance, value of unexpired portions of
1 43,440 4
10 0 0
policies
135.00
Bundry debtors ...'
20,715.51
43,450 4 1 2,291 8. 8 5,868 17 3
Hongkong and Shanghai Bank, cash with Cash with agents
16,983.02
263.30
: 346,814.00
WORKING ACCOUNT.
Dr
The board of directors submit herewith their report and statement of accounts for the year 1898.
London and China, ngents' balance, freights, &c. By cash in London and China
To general charges, telegrams, directors'
and auditors' fees
To exchange account... To depreciation account
The result of the year have proved satisfac- tory, the Company's fleet ́having been well employed at raunerative rates, and the bet eacuiugs show a material increase over those of the previous year. The volume of trade was great than could have been expected consider: ing the serious political troubles in which the Chinese Empire has been involved, and it might farther bargely increased if the To interest account Government were to be re-organized on more enligatened and less obstructive principles, but of this at present there is not much hope.
On steamships, &o. On office furniture
To balance-transferred to balance sheet
Cr.
The Revenu Account, after allowing for full depreciation on the fleet, shows a surplus of £58,868 17 3. which the Directors recojuinendy balance brought forward from 1897
By not earnings of steainers for the year to be appropriated as follows:-£29,753 8 0 o payment of a dividend at the rate of 6 per cent; By transfer fees 29,917 16 0 to an additional payment of a bouus of 2 per cent, both these to he free of Income Tax, leaving £19,197 13 3 to be carried forward to the next year's account
Exchange Account has been adjusted to the reduced rate of 1/11 p. dollar at a cost of £4,126, which has been provided out of Revenue.
The balance of Underwriting Account, as on 31st December, stands at the increased figure of £135,500, the Company having been for- tunate in escaping any tɩtal loss during the year. Since 31st December lust the steamer, Kum Sang, built for the Calcutta trade, has been added to the fleet, and advice has been received of her arrival in China, where she will com- mence her regular duty. The Ebani, mentioned in last year's Report has had her name changed to the Loong Sung, and is now working on the Coast and in the China Sea. Another sieamer, the Sultan, has been purchased in China for local traffic and re-named the Mau Sany.
£113,777 01
To coals
To installation material To salaries and wages To stores
To charges
£ 8, d. 1,370 7 0 112,400 13 1 6 0 0
£113,777 0 1
To office expenses
To rent and taxes
To repaire
To insurance
To tools
To auditors fees
THE HON KONG ELECTRIC CO., LIMITED.
The following is the report of the Board of Directors to the tenth ordinary yearly meeting of shareholders, to be held at the Company's Office, Queen's Building, at noon on Saturday 8th July :--
Gentlemen.-Your Directors have the plea- sure to submit the accompanying statement of the Company's accounts for the year ending 30th April, 1899, and are pleased to be able to point to the further improvement in the Com- pang's earnings.
The balance of Profit and Loss Account is $39,381.42: after deducting Director's Fees, $2.000, there remains the sum of $37:381,42 Until more liberal Customs regulations are adopted by the Chinese authorities, it is not available for appropriation, and your Directors follows:- likely that anything will be done towards recommend that this be disposed of as opening up the rive tributaries of the Yang-To pay a dividend of 6 per cent (say 10
cents per share) To improve the passage of that river as
To write off Plant Account for depreciation far as Chunking, the British Government con-
To orry forward to next account templates an early survey of the Rapids.
tsze
The West River trade in the Canton pro- vince is developing, though not very rapidily. It had to coutend against a local rebellion which lasted for some months up to September last, There is, however, reason to hope for eventual success, and that in course of time the obstacles to trade, especially to that assing between Canton itself and the upper River, caused by the local authorities may be abated or abolished. There is no improvement in the River Peiho, for which nothing is done by the Chinese Government, and most vessels have to discharge at or near the Bar into. lighters, which causes serions detention and much additional expense. a remedy, This matter urgently calls for nothing having yet been achieved by the River Improvement Scheme which has been so long under discussion.
The retiring directors are William Keswick and Mr. James Mancaudrow, who being eligible offer themselves for re-election..
The auditore, Messrs. Turquand. Youngs & Co., will likewise be proposed for re-election,
J. MACANDREW, Chairman. London, 24th May, 1899.
$18,000.00 17,354.33 2,027.09
837,38:.42
2+,893.00 24,0 1.69 2,417.17
7, 97.58 2,475.35
:,000.0
1,673.53
839.23
534.50
258,38
100.00
To amount carried to profit and loss account $3,519.27
Cr.
By gross earnings of the Company By interest By scrip and transfer fees
PROFIT AND Loss Account.
Dr.j To balance available for appropriation
$121,889.70
C
121,4-8.70
450.74 0.25
121,889.70
19,3 4
: 39,391.42
$
Cr. By amount of undivided profits as per last
5,76 By balance of working account brought down 3,618:27
account
$38,38 .42
MANAGER'S REI ORT.
Hongkong, 14th June, 1899. The Directors,-The Hongkong Electric Company Limited. Gentlemen. I have to report that upwards of 4,450 Lamps of various candle power, and 100 Fans, which may be taken together as equiva leat to 8,000 lamps of 8 candle power, are Com-connected to the Company's Mains. In addition to the above, a considerable number of lamps are in course of installation.
То соре
The 554 Shares appearing in the Account as $8 puid up, were forfeited during the year for nonpayment of calls, and have been re-allotted since the Company's Books were closed.
The Manager's Report annexed herato, gires particulars of the progress made in the pany's operations during the year. with the increased demand for lighting, orders were placed in the Spring for a further sot of Generating Plant, viz., Engine, Alternator, Boilter, &c., and it is hoped that these will be delivered, as promised, in time to meet the heavier requirements for light in the coming winter months.
DIRECTORS.
The Hou, J. J. Bell-ving and Mr. C. S. Sharp Laving resigned on leaving the Colony, Messrs. C. W. Dickson and A. G. Wood were iuvited to join the Board. In accordance with the Articles of Association, Messrs. H. L. Dalrymple and A. G. Wood retire, but being eligible, offer themselves for re-election.
The number of Aro Lamps supplied, viz., 82, remains the same as at the date of the last report.
During the year under review, the Company have extended their field of operations by esta- blishing a small Eelectric Power Supply Service for the Reclamation. At the present time, power is being supplied to 4 Lifts and a further 2 Lifts, will shortly be connected.
The resources of the Incandescent Lighting Plaut were fully employed on several occasions during the last winter.
The Plant and Machinery have been mainted in good working order.-1 remain, gentlemen, your obedient servant,
W. H. WICKHAM, Manager,
ฯ
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