March 31, 1900.]
Bullock carts and Itve stock Furniture at mines
Stores on hand and in transit
Firewood and timber on hand
Cash at mines
Merchandise loaned
................
་་་་ ་, ་་་་
CHINA OVERLAND TRADE REPORT.
219
1,037.32
1,6-6.38 Exchange
1,991.41 Auditors' fees
༧ངས་༣སན གཙང
Advances to employers
Concentrates on hand and in transit
Hongkong and Shanghai Bank, Singapore
Accounts receivable
0 PROFIT AND Loss Account 31st Decemвak, 1899.
... 14,296.18 Consulting Committee's fees
1,805.49 Depreciation for 1899
160.48 Balance
681.23
ASSETS.
$
Property account
682,142.43
16.20
Refined sugar
11,092.89
1,500.00
Raw sugar...
31,644.59
400.03 Coal, charcoal, stores, mat bags, dc.
39,183.59
18,9-0.81 Hongkong and shanghai Banking Corporation 28,322.79
89,663.71
Cash
Fire insurance
1,100.28 59.51
20,270.89
Sundry debtors
$120,560.80
.....................on. 10,576.04
1,449.74
Balance of profit and loss sooount
25,679.41
8,242.72
Balance from 1898
50,317.44
Head office furniture...
454.93
Cash in hand and at bankers
....
12,305.82
Balance of working account
72,369.66
Profit on sale of 48 new shares not applied for Balance of Green Island working account Balance of Deep Water Bay working account
80.50
$780,002.48
63,813.39
6,349.47
Profit and Loss Account, 31st December, 1899.
Dr.
€404,304.21
$120,660.80
To balance from last year ...........................ambue ve
9,819.06
WORKING ACCOUNT TO 31ST DECEMBER, 1899.
BALANCE SHEET.
To loss on working
3,819.24
Dr.
LIABILITIES.
$ 0.
To interest
5,235.03
To balance from last account
...
19,840.98
Capital—
To loss in exchange
5,626.61
To operations at mines
85,546.61
To surveying
2,492.16
49,79% shares at $10, fully paid up $197,054.40 140 shares at So tully paid ap
700:00
To Manila agent? commissi ›n To auditors' fees
1,008.58
150.00
To general expenses at mines.
25,673.21
65 shares at $2.50 fully paid up.
162.60
To agency foes
2,270.00
498,812.50
$25,679.41
Te insurance
613.86
Reserve fund
819,812.50
To charges on concentrates and gold
894.90
Due to General Managers
3,643.42
Cr.
0.
To maintenance of blacksmith's shop
308.52
Due to ban ora
200,436.68 By balanos
25,679.41
To prospecting
7,010.94
Debentures drawn but not presented
600.00
To royalties on gold
8,912.76 | Sundry creditors
37,500.78
$25,679.41
To Panggong office expenses
5,735.13
Balance of profit and loss
89,661.71
To salaries, wages and head offioa charg-s
5,807.88
To exchange account...
461.25
$1,150,489.60
To telegram account...
132.0.
A MONTH.
$
To directors' fees
2,500.00
Green Island, Macao-
To auditor's fee
160.00
$163,236.23
Buildings and machinery, as per
last statement ................................ ..$181,500.00
Now kilns and machinery
Cr.
$
0.
By proceeds of gold winnings,
67,518.88
Less depreciation
20,140.60
201,640.60 21,640,60
By concentrates produced
By interest
By transfer fees..
By fines
.......
By balance
By sundry revenue
21,848.2
GREEN ISLAND CEMENT COMPANY,
LIMITED.
Cement, raw material, &c. in stock
Cost of land, buildings and ma-
180,000.00 90,274.88 24,734.00
775,340.70
608.17
41.10
Cement on consignment
850.0.)
Hok Un, Hongkong-
66.30 72,363.36
chinery
Cement, raw material, do.
676,443.99 98,898.71
$163,286.23
Deep Water Bay, works—
Cost of land, buildings, machi-
nery, &c. as per last statement New kilos and building
28,000.00
9,270.24
37,270.24
Less depreciation
7,270.24
370.00 70,00
500.00 20,752.62
1,252.06 66.71 220.59
The following is the report for presentation to the shareholders at the eleventh ordinary general meeting to be held at the office of the General Managers on Saturday, 31st March, 1900, at 12 o'clock noon.
Aunered we have the pleasure to lay before shareholders a statement of acounts of the Company for the year ended 31st December, 1899.
The net profit, including the amount brought forward from the previous year, amounts to $89,663.71, which it is proposed to deal with as follows, viz:-
$ 5,187.50
To place to reserve fund To pay a dividend of 10 per cent...... 50,000,00 To carry forward to next year's ac-
count...
34,476.21 Throughout the year the cement market steadily weakened and towards the end we bad to make some reduction in our own prices The profit is therefore but little more than the per- vious year's, although sales were considerably larger, covering almost the exact number of barrels put out at Macao. No sales were made from Hok Un until the beginning of the year, so no working account is given for that factory. Work was begun there in November last, and we are pleased to report that the outturn has surpassed onranticipations, the whole installation of both kilns and machinery giving the greatest satisfaction and reflecting much credit on its designers, Mr. S. V. A. Üldall and Mr. A. H. Hewitt.
Operations at the Deep Water Bay Brick. works proceeded much more satisfactorily last year, sales also were larger and the result is very encouraging for that industry,
CONSULTING COMMITTEE. Messrs. Ewens, Li Sing, Chater and Dickson retire but offer themselves for re-election.
Mr. A. P. MacEwen, owing to his departure from the Colony, has resigned and Mr. C. W: Dickson was invited to fill up the vacancy. Mr. Orange is also going home and Mr, D. Gillies is recom- mended for election in his place.
AUDITORS.
The accounts bave been audited by Messrs. F. Henderson and W. H. Potts, who are eligible re-election.
SHEWAN TOMEв & Co,
General Managers.
Broks, pipes, do, in stock Furniture, as per last statement
Loss depreciation Sundry debtors Cash-
Head office. Macao works Hok Un works
30,000.00
26,837.74
CHINA SUGAR REFINING COMPANY, LD,
TO THE EDITOR OF THE "WEEKLY PRESS,"
Sir,
I have been instructed by Mr. O. Ewens, acting in behalf of a very large number of shareholders in the China Sugar Refining Company, to forward the enclosed correspon- dence and request that you will be kind enough to publish it, together with this explanatory letter.
About the beginning of this year the Hon. E. R. Belilios suggested to Mr. J. J. Keswick that in view of the unsatisfactory condition of the sugar trade Messrs Jardine, Matheson & Co, should reduce their charges as General Agents of the Company. No reply being re- tarned to this proposition, Mr. Gubbay, armed with the letter of November 1st, 1899, wrote to the Consulting Committee the letter of the 6th February. Mr. Belilios thereupon convened a meeting of the Committee for the 13th February. The result of that meeting was a request that Mr. Gubbay would formu- his proposals, which he did in the letter of the 14th February. The same day Mr. Belilios wrote a letter enclosing Mr 2,029.26 Gubbay's to Messrs. Jardine, Matheson & Co. and sent his letter round to the other members of the Committee for them to sign. This they refused to do on the ground that Mr. Gabbay had not produced his authority.
$1,150,469.60
LUZON SUGAR REFINING COM- PANY, LIMITED.
The following is the report for presentation to the shareholders at the eighteenth annual general meeting, to be held at the offices of the General Agents at 12.30 p.m. on Saturday, 31st March, 1900.
The General Agents beg to submit their re-
port on the business of the Company during the year 1899.. with a statement of accounts to
31st December last.
In consequence of the war in the Philip pines, the Refinery could only be worked for four weeks during the year, and, inclusive of $9.819.96 brought forward from the year 1898, the nett loss amounts to $25,679.41, which is carried forward to the current year.
The General Agents and Consulting Com- mittee have waived their commission and fees as they also did last year.
CONSULTING COMMITTEE,
The Consulting Committee consists of Messrs. D. Gillies and J. H. Lewis, who offer themselves for re-election.
AUDITOR.
The accounts have been audited by Mr. Thomas Arnold, who offers himself for re-elec- tion.
JARDINE, MATHESON & Co., General Agents.
LIABILITIES.
CAPITAL Account, 31st Decemben, 1899,
Jardine, Matheson & Co.'s surrent account Capital socount
Sundry creditors
0.
700,000.00 77,906.97 2,095.51
$730,002.48
late
On February 19th Mr. Gubbay wrote direct to Messrs. Jardins, Matheson & Co. repeating his proposition, but in reply Messrs. Jardine, Matheson & Co. refused to correspond with him on the subject.
refused to correspond, were approached by Messrs. Jardine, Matheson & Co., having
several influential persons with a view to arrang- tions and the formal requisition for an Extra- ing terms, but nothing came of these negotia- ordinary Meeting, dated 12th March, was
sent in.
The resolutions in this requisition require that no change in the commission payable some explanation. Artiole 26 is to the effect to the General Agents shall be made except at their instance, and therefore this Article had to deal with Articles 24 and 25. By these Articles be cancelled before the meeting could proceed to
the General Agents are entitled to receive per sanam (a.) $5,000 (b.) commission of three per cent, on the cost of stores and material (except disbursements (exceptsalaries and office expenses, sugar purchased in Hongkong) and on all other
(b.) commission at the rate of five per cent. on the net profits of the Company; (c.) the rent of the... premises belonging to the Company, the salaries of agents' elerks and all other persons employed by them on behalf of the Company and all other disbursements incidental to the aurrying on of the business of the Company and (d.) commission at the ordinary rate upon all pur chases and sales of sugar'ontside" Hongkong over and above the charges sotually paid on such sales and purchassa.
In reply to this requisition Mesars, Jardine, Matheson & Co. wrote pointing out informali- ties in some of the signatures and stating that
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Private notes are available after approval.