44
THE HONGKONG LAND INVEST- MENT AND AGENCY COM- PANY, LIMITED.
THE HONGKONG WEEKLY PRESS AND
•
We have compared the above statements with the books, vouchers and securities of the Company and have found the samo to be correct.
F. HENDERSON, } Auditors. J. C. PETEK, Hongkong, 10th January, 1900.
The following is the report of the Board of Directors for presentation to the ordinary meeting of shareholders, to be held at the THE WEST POINT BUILDING Company's Offices, Victoria Buildings, at noon, on Wednesday, the 24th January, 1900..
The Directors have now to submit to you a
general statement of the affairs of the Com- pany, and balance sheet for the year ending 31st December, 1899.
The not profits for that period, including $67,854.93 brought forward from last account, after paying all charges, amount to $577,952.94. From this amount au interim dividend of $2.50 per share has already been paid, and it is now proposed to pay a final dividend of $3.50 per share, making a total dividend of 12 per cent. per annum on the paid-up capital, and after writing off directors' and auditors' fees there remains a balance of $252,352.94, from which it is proposed to place $250,000 to an equalization of dividend fund, and carry for
ward the balance of $2,352.94 to credit of new profit and loss account.
DIRECTORS,
Messrs. N. A. Siebs and Leo Sing now rotire by rotation, but offer themselves for re-election. Mr. E. Shellim was appointed Director in place of Mr. D. Gubbay, resigned, and this now requires confirmation.
Mr. D. M. Moses has been appointed a Direc- tor in place of Mr. E. Shellim, who has resigned on retiring from the firm of Messrs. David Sassoon, Sons and. Co., and this appointment also requires coufirmation.
AUDITORS.
The accounts have been audited by Mr. F.. Henderson and Mr. J. C. Peter, who now retire, but offer themselves for re-election.
J. J. KESWICK.
Chairman.
Hongkong, 10th January, 1900.
31st Dec., 1999.
Paid-up capital
Reserve fund
BALANCE SHEET,
LIABILITIES.
Accounts payable
Balance of profit and loss account
31st Doo., 1899.
Amoant advanced on mortgago
Cash
|
PANY, LIMITED.
[January 20, 1900.
RACING NOTES.
Although customary, it is by no means need- ful, for a now contributor to give the why and wherefore of the presence of his offorts in the columus of the paper for which he writes. It is, consequently, only necessary to state that an COM-accurate account of the work on the race course and short references to anything of importance to the local racing and sporting fraternity will appear in this column as often as the occasion
The following is the Eleventh Report of the General Agents for presentation to the ordinary meeting of shareholders, to be held at the Company's Offices, Victoria Buildings, at 11.30 o'clock am. on Wednesday, the 24th January, 1900.
demands.
is not so keen, up to the present time at least, The interest in the forthcoming race meeting
as it has been in previous years, and, as a result, the attendance at the course in the early morn..
The General Agents now submit to you a statement of the affairs of the Company, and balance sheet for the year ending 31st Decem-ig is meagre. ber, 1899.
The net profits for the year, including the amount brought forward from the previous year, amount to $24.647.23. From this amount an interim dividend of 75 cents per share has already been paid, and, after writing off direc- tors' and auditor's fees, it is now proposed to pay a final dividend of $1.15 per share, making a total dividond for the twelve months of 31.90 per share, and to carry forward the balance of $347.23 to credit to new profit and loss account.
DIRECTORS.
The Hon. C. P. Chafer. C.M.G., and the Hon. J. J. Keswick refire by rotation, but
offer themselves for re-election.
The Hon. J. J. Ball-Irving and Mr. C. S. Sharp, having retired, the Hon. J. J. Keswick and Mr. A. G. Wood have been appointed in their stead, and these appointments now require
ooufirmation.
AUDIT.
The accounts have been audited by Mr. Ful- larton Henderson, who now retires, but offers
himself for re-election.
A. SHELTON Hooper,
Secretary to the Hongkong Land Investment and Agency Co,, Limited, General Agents for the West Point Building Co., Limited, Hongkong, 12th January, 1900.
$ 0. 6:5,000.00 1,030.45 15,372.28
2,500,000.00 1,250,000.00
Accounts payable
BALANCE SHEET TO 31st Decxmaux, 1899, Blat Doo, 1899. 297,846.37 452,952.94 Paid-up capital
LIABILITIMI.
$4,500,799 31
Balance of profit and loss account
ASSETS.
$ 0.
$641,302.68
52,722.86
31st Dec., 1899.. Cost of property Cash Accounts receivable
A SEETE
611,830.80 742.88 2$,729.00
Amount invested in property
Furniture account
Accounts reccivable
30th June, 1899.
Dr.
1,213,403.00 .8,206,488.25
3,246.08 25,039.14
$4,500,799.31
$ 0.
126,000.00
PROFIT AND Loss AccoUNT.
To interim dividend of 5 per cent. for the
half-year.
To charges account
31st Dec.
To repairs to house property
To advertising account
To fire insurance account
Directors' tces
Auditors' fees
for the half-year
28,942.95
16,431.82
318.89
PROFIT AND Loss AccoUNT. 80th June, 1899.
Dr.
To interim dividend of 75 cants for half-year
31st Doo., 1899.
To firo insurance
To charges
To Crowa rent and rafor
6,871.73
To legal expenses
To repairs to building0
$ 5,000.00
To interest:
20.000.00
To commission to agents
600.00
175,000.00
To balance to be appropriated as follows:
Managing directors' fees
Final dividend of 7 per cent.
Equalization of dividend fund.. 250,000.00
Balance to be carried to now.
account
To balanco to be appropriated as follows
Directors' fees
$
500.00
Auditor's foo
2,852.94
Dividend of $1.45 per share Balance to be carried to now
account
50 00 14,375.00
347. 3
452,952.94
$630,518.39
$
0
1st Jan., 1899.
67,864.93
By rents...
By sorip fees
81,330.83
195,501.90
Less-Interest on loans payable 22,363.98
lat Jan., 1889,
Cr.
By undivided profits, 1898
By interest on mortgages
$103,699.81
By rent account
By commission account
By scrip fees
By profit on sale of properties
By unclaimed dividends forfeited
RESERYE FUND.
31st, 1899.
To balance
let Jan., 1899. By balance
8,055.95 299.00 276,711.72 764.00
0.
By balanco brought forward
Cr.
Ο
The scarcity of ponies may have something to do with the apparent lack of enthusiasm, but the probabilities are that some of the regular patrons of the track are waiting until the griffins are more forward with thoir with it. That the usual amount of criticism work before renewing their old acquaintance
will be bestowed on the gawo little competitors before they are asked to try definite conclusions goes without saying, and the arrival of the Shanghai contingent next week will doubtless
create a new interest.
Nothing sensational in the way of timo has yet been recorded. With two or three exceptions all the poules are doing good work and the racing promises to be of an open character.
Visitors to the Causeway Bay Stables on Satur day morning were treated to an unrehearsed per- formance which proved particularly interesting to everybody but one of the leading performers, A suggestion was made that one of W. Konne- dy's recent Australian importations should be backed; thereon hinged the unexpected enter- tainment. Full of confidence, justified by his experienco with other wafers ho had ridden, one of the grooms boldly attempted the task. In less than five seconds he, Kennedy and the horse were engaged in active warfare, with the spectators in full retreat.
The horse displayed rare generalship; and brought the engagement to au abrupt termina- tion by popping the boy through space with the velocity of a Manser bullet. He then dis- played an inclination to leave the scone of his success, and would probably havo boon going now had Kennedy not anticipated his retire- mout.
With the excoption of Mr. Hart Buck's 'ro- cont purchases, and four or five others from 641,302.68 Amoy, all the horses engaged at the forthcom- ing meeting have arrived and are located at hondquarters.
0.
9,876.00
2,002.75
594.60 1,608.70 817.40 1,876.20 268.24
The gallops at the Course so far this week may be described as opening dress rehearsals. They are important, but not worth recording. Saturday will, in all probability, be spoken of hereafter as the opening day. The attendance of spectators and ponies increases each mora- 1,258.26ing, aud there are already at least six owners who, in anticipation, are leading back the Derby
16,272.13
:85, 73.38
winner.
Hongkong riders were very much in evidence at Amoy. Mr. U. J. Gresson heads the list with six wins to his credit, Lieutenant F. J. Walwyn is second with three winning brackets, and Lieutenant R. B. Johnson comes third with two. Mr. J. A. Cox also succe ded in getting into 1,234.94 first position.on one occasion. 84,21,44 -117.00
$
$35,573.38
A telegrain to the Manila Times, dated the 9th inst, states that Mr. E. Root, U. S. Secretary $630,618.33 for War, has asked Congress to pass an emer- gency vote of seven hundred and fifty thousand dollars, which is urgently needed to make up a deficiency in the fand for, repatriating Spanish prisoners recently escaped from Aguinaldo's Congress agreed about a month ago to send them all home at the expense of the U. 8., but no vote was taken then for thous in Manila,
1,250,000.00
1,250,000.00 A. SHELTON HOOFER, Secretary.
power.
The Champion of the meeting is aptly named Pluto. For the moment he is probably considered quite as important by his equine com. panions as his illustrious namesake, who in the days of ancient Greece was supposed to reign over Three wins out of three starts, and one of them regions that few of use bare any desire to reach
not a bad per- the Championship, is formance, and when he meets the best of the local cracks the race should be worth watching. Esperance and Desespoir, now on their way south, consigned to Mr. Hart Buck, were both successful at Amoy. Ridden in each case by Mr. A. T. Gresson, the former captured th
!
No comments yet.
Private notes are available after approval.