July 8, 1899.
To dividends, paid on 200, founders' whares,
28,400.00
2,800,00
13.76 8,571.64
741. 117 per share
directors, and auditor's feer.
81st August.
to Bennerts estate---Final losi
To balance carried down ........
Tis.196,285.40
30th April, 1898.
Cr.
By balance from last report
80th April, 1899. To balanos
Dr.
Tis. 196,285.40
Tls. 196,285:40
Tis.
30th April, 1899.
Cr.
Tis. 178,718.16
Tls.
By balance brought down
By net earnings for the year
CHINA OVERLAND TRADE REPORT.
The surplus in the year's working amounts to TL. 8,658.82, which amount we have placed as follows:-Tis. 7.898.44 to Reserve Fund and 760.38 to Profit and Loss (Hear, hear.)⠀⠀
Mr. Wong Tau-foo seconded, and the resolu tion was carried nem con.
An extraordinary meeting wis then held. The Chairman moved and Mr. Wong Tsu-foo seconded :-
That the Company be registered under the Companies Ordinances of Hongkong as a Com- pany limited by shares; and the Company's name be changed to The China Mutual Life 178,718.15 Insurance Company, Limited.
Carried unanimously.
BALANCE SHEET. AMETI.
Tia.
Property account-
Land and buildings in Pootang, New Dook,
and pumping gear.
442,032.00
Plant account--
Machinery and gear at engine works,
: and at New Dook
Stock Sobount-
256,097.57
Mr. Zia Zee-ding-It gives me much pleasure to be able to inform you that the Chins Mutual Life Insurance Co. has been a success so far. 8,571.84 I may tell you that this is the first. Chinese life 170,146.51 | insurance Čo, started in the great Empire of China. The pioneers of this Company are Tls. 178,718.15
Mr. Wattie and some others It is a great credit to these gentlemen to have started a Company like this, thus bringing in Chinese business in a more foreign way. The first meeting was held in April, 1898, when Dr. Lo0- per. H.E. Wong, and Messrs. Wong Tsu-kes, Lee Yaug-sze, Paul Song, and your humble servant were present. We were rather diffident of success, but our endeavours have been re- warded, the Chinese public having placed their confidence in our Company. We started business on the 17th of May 1898, and we are glad to say that the Company has made a profit of Tls. 8,558.82, after paying all expenses. You know the first year's expenses, of a Company 21,423.84 are great. and still we can say that we have made Tls. 7,998.44 profit, which will go to the Reserve Fund. We ask for co-operation of the Chinese public in our undertaking. In con- cluding I bave to thank Mr. Wattie, the 332,396.67 manager, for all his work in the matter, for to |
him is due a great deal of the success of the Tis. 1,479,288.78 | Company (Applause.)
Value of materials at engine works, and
P
at New Dock
Furniture account-
In offices and dwelling houses
Cash Rocount----
Cash at bankers
20,768.35
In hand at office ..............................
855.29
Reserve fund---Investment Account-
Sandry debtors —–
Accounts in course of collection 187,548.67
Contracts in hand, value of
portion completed
134,848.00
351,015.08
6,721.69
LIABILITIES
Tis.
Capital account-
7,800 ordinary shares at Tis. 100 780,000.00 200 founders' shares at Tls. 100 20,000.00
Reserve fund-
Amount at credit of this account
Maintenance and depreciation account-
Balance from last account
10,498.00
Appropriation April 80th, 1898 15,000.00
Less expanded 1898-1899
Bundry creditors.
Profit and loss account-
Palance at credit of this account
25,496.00
19,468.25
800,000.00
220,000.00
6,032.75 274,857.83
178,718.15
Tls. 1,479,288.73
THE CHINA MUTUAL LIFE IN- SURANCE CO.
On 23rd June the first general meeting of this Company was held at the offices, Canton Road, Shanghai. Mr Lee Yung presided, and there were present Messrs. Paul Song. Weng Tsu too, Zia Zee-ding, Lee Tsong-nee, Yue Tsong-nien, sud J. R. Wattie, Managing Director. In moving the adoption of the Re- port and Accounts,
The Chairman said-The Directors have pleasure in submitting the report of the busi- ness for the year ending 30th April. 1899, and in doing so they feel that both policyholders and shareholders will find ground for congratu- lation upon the result of the operations for the first year. There were received during the year applications to the extent of Tls 671,318,64; and 75 per cent of this business was secured in Shanghai. Of this your Directors accepted Tls 576,319.64. and issued policies for same. Tls. 70,890 was declined as not coming up to the Company's standard, and Tis. 25,000 was postponed for further information. The claims arising from deaths daring the year were three calling for Tls, 2,989.64 and your Directors have much pleasure in referring you to the beneficiaries' letters as to the prompt manner in which we settled the claims, not three hours passing after being notified, before claims in Shanghai were paid. The interest received during the year was sufficient to pay all death claims and save a surplus of Tis. 892.10
RAUB.
THE ANNUAL MEETING.
The fifth annual meeting of the Raub Aus- tralian Gold Mining Co. was held at Brisbane on the 25th May. A fair number of share- holdors were represented, and Mr. De Burgh Persse, chairman of the company, occupied the ohair.
од
the
regard to the board and espable hands.
87
he office, were in most
Mr. Webb seconded the motion, which w** carried unanimously.
The retiring directors-the Hon. R. Philp, Messrs. De Burgh Persse, James Forsyth, and G. F. Scott were re-elected, and Mr. T. A. Bond was reappointed auditor at the same re- muneration as before.
A vote of thanks was passed to the officials and staff of the company, and the proceedings term. inated with a special vote of thanks to the chair- man for the interesting and full information he had placed before the meeting.
88 W
CORRESPONDENCE
We do not hold ourselves responsible for the upinions expressed by our correspondents,];
FIXED POSTS FOR POLICE.
14
TO THE EDITOR OF THE DAILY PRESS.
SIB-On Sunday, July 2nd, at 12.30 noon, I a half drunken European lying in the gutter outside a public house in the Queen's Road not far from the Fire Brigade. Station. I searched everywhere for a European police- man to report the matter. From the Govern. ment Civil Hospital to the road up to tho Tram station near Victoria Hotel I did not see and could not find any European policeman. I suggest that in this crowded city there should be, as in London, certain fixed posts for Euro- pean policemen in addition to those on patrol- duty The posts in part should be:--
|
The Chairman, in moving the adoption of the report and balance-sheet, congratulated the shareholders, present and absent, magnificent property they possessed, and on the steady increase the mine had made during the year just ended. He pointed out that his recent visit to the concession confirmed the statement previously made that the company owned not a gold mine, but a goldfield The yield of gold Lad been greater than in any previous year, and there had been 14,259 tons of ore crushed. yielding 13,758oz. of gold, or nearly loz. to the ton. The electrical installation (which had been very considerably delayed by non-arrival of iron-piping from England, and by a great deal of sickness amongst the native labour employed in clearing the cable track) would, he hoped, be completed by the end of the year. He had visited all the mines, and was down the grand mine at Bukit Koman, three or four times. In this mine a large amount of work has been done. The new battery was being erected at this site. A. dam capable of holding an unlimited amount of water was also being constructed. It was pointed out that there was estimated to be nearly 200,001 tons of ore in sight in this mine. There was no scaresty of labour at the concession, and the system of a regular fortnightly pay-day hud done more towards securing good labour for the mines than anything else. Too much praise could not be given to Mr. Bibby, the manager, and Mr. Whyte, who acted as manager during Mr. Bibby's absence in England, for the way in which everything had been generally looked after at the mines. it was pointed out that, but for their indomit able pluck and energy, the shareholders would not now be in possession of this valuable pro- perty. In conclusion, the chairman stated that he had to acknowledge the unvarying courtesies extended to him during his visit to the East, and that he returned fully convinced that the management of affairs in Singapore, both with
.
1.
At the corner of Murray Barracks leading up to the Tram station.
2.Opposite the City Hall and Museum 3.+-At the space in front of Thomas's Grill Room and the Victoria Hotel.
4.At the Clock Tower. 5.At the Central Market. 6.At the Fire Brigade Station.
I further suggest that a monnted Indian constable be always on the move from the Fire Brigade station to the Sailors' Home and another from Murray Barracks to the Happy( Valley Monument.—Yours,
NO POLICE.
Hongkong, 3rd July, 1899,
THE CUSTOMS AND THE NEW FRONTIER.
10 THE EDITOR OF THE
DAILY PRESS.
Sir,-About a fortnight ago I wrote pointing out through the columns of your widely read paper that if the territory recently added to the colony was to be administered with as little friction as possible between the British and Chinese authorities it would be necessary to in clude the whole of the Sunon District and Islands within our boundaries. A reply to that letter was published over the signature of
L
Open Door," in which two questions are put to me. Indisposition and lack of time prevented me from answering those questions before and I at first was inclined to allow them to remain unanswered, for the answers are so obvious and the letter is so pulpably c one trying to put a good aspect on bad case that anyone conversant with the question would see that "Shut the Door r” would have been s better nom-de-plume thần “Open Door for the writer to bave taken, especially when writing in the interests of a service whose head is continually by his ruling endeavouring to block British trade and take all the substance out of the concessions wrung from the perverse Chinese Government, leaving only a shadow of the concession obtained, as in the case of the opening up of inland waters, and who holds out baits with the intent of establishing his rule within the colony of Hongkong itself. Why on eart the British Government allow their own nominee and ons whose position is mainta ned by British back, ing to override them on all occasions has always been a puzzle to me..
As some of your readers may not have seen or have forgotten the letter. I now reply may be as well to quote that part whi ch 1 pro- pose to deal with, which runs as follows
I would like to ask Old Chine Hand in the event of the annexation of the whole of the Sunon District and the Custo
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