Page
C.
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OLIVERS FREEHOLD MINES,
LIMITED.
THE HONGKONG WEEKLY PRESS AND
1st Jan, 1899.
WORKING ACCOUNT,
Dr
$ •
· · 40,671,41
To balance brought forward 31st Dec.
WORKING ACCOUNT FOR 19 DECEMBER,
To net premia, less re-insuran
To cost of mining, transport to mill and willing 120, 72.49 Lo interest account To assaying
The following is the report for presentation to the shareholders at the fourth ordinary annual general meeting, to be held at the Re-To gistered Offices of the Company, 38 and 40, Queen's Road Central, ou Wednesday, the 18th of April, 1900, at noon.
Gentlemen. We beg to lay before you the report and statement of accounts for the year ending 31st December. 1899, from which you will see that the balance at debit of Working Account at the beginning of the year of $40,671.41 has been almost wiped off, and there now, only remains an amount of $4,138.92 at debit.
¦ THE EUREKA MAIN SHAFT. Driving has been extensively carried on both north and south during the year, and a large quantity of good ore has been met with, principally in the 150 feet, 200 feet and the in termediate south levels. In conjunction with Queen Mines, Limited, an air compressing plant for the use of rock-drilla was erected, and com menced running on the 21st August last. This has enabled us to get through a much larger amount of work than before; a total distance of 1,382 fest having been driven in 1899, as agaidat 539 feet on 1898, besides stoping and rising
SHAFT.
The lode channel was intersected in the cross- ont in March last, 86 feet east of the shaft, but proved disappointing, and the expenses of working being very high, it has been discon- tinued for the present
The Battery has been in full work throughout the year, and is in fair order.
Water supply has proved suficient for all our needs, and at the end of the year we had a six months' supply in hand.
During the year 6,596 tons of ore have been milled, realizing 4,535 ozs. 13 dwts. of smelted gold value $171,482,86.
For your further information we append a report by the manager on the year's work.
AUDITOR.
The accounts have been audited by Mr. W. H, Potts, who offers hinself for re-election.
JOHN D. HUMPHREYS & SON,
General Managers.
Balanok Sheet FOR THE YEAR ENDING 31st
DECEMBER, 1899.
LIABILITIES.
Capital account-
15,000 A shares at $5
$75,000.00
45,000 B shares at $4.50—– 202,500
Les unpaid calls on 185.
shares at $1-
$
Accounts payable
Eureka main shaft
Gold lots 103 and 308
'ASSETS.
165
202,335.00
$85,000.00
32,307.04
4,279.19
Cost of Olivers property $50,000.00
Cost of Eureka mine 35,000.00
Worke, buildings and fixed plant.. 35,784.2 2/3rds cost of air compressing plant 14,072.54
Balance brought forward 14,666.00
Expended during year 30,154,32
Less mount realized by
New plant...
Development
1,229.10
C.
0.
277,335.00 3,189.61
$280,524.61
D.
|
216,592.21
$44,820.32
Bale of forfeited shares written off
940.50
Live stock
Stores on hand and stook of fuel at
Battery
Moveable plant
43,879,82
733.76
3,767.52 4,075.49
0,176.77.
Cash in Hongkong and Shanghai
Bank.
$14,028,53
2. 10,601.53
23,993.20
77.05
Cath in Union Bank of Australia,
Bydney
Cash in hand.
Cach at call
1bcounts receivable
Balatos at debit of working account
general charges in Australia travelling exposes and telegrams To application fees and rent of gold leases To Australian management and salaries To General Managers' and auditor's tees To office charges To exchange
31st Dec., 1-99.
Cr.
By gold account, proceeda of gold won .... By rent of cottages By interest
By transfer feed...
By balance
Store of ore on hand at mine and
mill 21 tons at 261.—£26 58. 0d.--- $268,06 Difference
$3,865.84
[April 14, 1900
1,10.90 1, 26.80
To transfer fees account. To profit on sales of securities
1,380.6
1,17.02 6,243.2 3,100.00
$019,858.44
294.70 $97.92
By claims paid, less re-insuranceți
By agenoy commissions
By Load office and general charges
$176,575.19
$ 0. 171,442.86
By London charges
By Hongkong charges ........................
By agency charges
4,289.39 11,688.82
343 91
By directors, auditor's, and committee's foon > 6,481.74
578.30
By exchange 2000unt
36.00
Ly balance
8,900.44 484,472.45
WORKING ACCOUNT, 1898, AND FORMER
271,053, 9 5,880.47 30,882.75 22,808.49 -
4,133.92
Dr.
: 176,075.19
To balance of working account, 1898, from;;
last account
275,918.85
To balance of workin account, former years,
from last account
122,630.86
$398,619/71
THE YANG-TSZE INSURANCE
ASSOCIATION, LIMITED.
to the tenth ordinary general meeting of share.. The following is the report for presentation
holders, to be held at the offices of the Associa- tion, No. 26, the Bund. Shanghai, on Thurs- pay, the 19th April, 1900, at 4 o'clock p.m. drecisely.
The Board of Directors have now the ple asure to submit to the shareholders the annual report and audited statement of accounts and balance sheet to the 30th December, 1899.
WORKING ACCount 1898, AND FORMER YEARS.
This account shows a credit balance of *163,121.92 against $122,600.86 on the 31st December, 1898. The directors recommend the payment of a dividend to shareholders of 20 per cent. out of this account. The account will then stand as follows:- Dividend of 20 per cent. (=$12 per
share) Balance to be carried forward
..$ 96,000.00
67,121.92
$163,121 92 The dividend will be paid in Taels at ex- change 74. $12 (a) Exc. 74—Taels 8.88 per share.
WORKING ACCOUNT, 1899.
The net premia earned during 1899, after deducting return premia, re-insurance premia, etc., amount to $74,635.99, against $595 941.90 during 1898, and the account shows a balance at credit of $434,472.45 on the 30th December ast The directors recommend transferring $34.000,00 to the credit of reserve fund. The account will then stand as follows:-
To Reserved Food
Balance to be carried forward
|
Cr.
By net claims, re-insurance premis, and pro-
mia returned, &c., account 1898 .............
By dividend-Former years account – $8 per
share on 8,000 shares
By net claims, and all payments account for-
mer years By balance..
LIABILITIES.
170,424.40
48,000.00
16,973.39 #163,121,92
$398,519.710
BALANOR SHEET on 30ta Dmommbær, 1899.
Capital 8,000 shares of $100 each upon which the sum of $60 per share has been called and paid up Reserve fund !. Exchange and investment fluctuation account 42,669.687. Working account, 1899
Working account, 1898, and foriner years Uncollected dividends and bonus.
À ESETE.
480,000.00 $16,000.00
434,472,45- 163,1.1.92 8,444.11-
$1,639,708.16.
Midland Railway Company, consolidated 21
per sent. perpetual preference stock. £6,540 88. Great Northern Railway Co., consolidated 4 per cent. perpetual preference stock £2,032 .08.
London and North Western Railway Co., con- solidated 4 per cent, preference stock £8,425
Great Western Railway Co., 4 per cent. de-.
benture stook £1,700
Great Western Railway Co., 44 per cent. der
beuture stock £2,880°
Shanghi Land Investment Co., Limited, 6
66,162.11
20,560.59
34,647.00
17,197.05
28,931.51
India 34 per cen. stock 1,931 £3,010 148 Mortgages on real stare at Shanghal
20,34 .05
336,986.30
..$ 34,000.00 400,472.45
$434,472:45
Chinese Imperial Government E loan of 1886 - 8,284.25
ash at bankers on fixed deposit. Cash at bankers on current account Shanghai Land Investment Co., . Li : ited, 6
per cent, debentures of 1290
342,465.75
200,574.00
34.931.51
-34,931.51-
11,095.59
of 1 92
23,547,95
Shanghai Municipal 5 per cent. debentures
of 1.95
6,780.82
82,438.36
27,739.78
In addition to the claims and losses paid during the year, which amount to $271,053.89 (equal to 88.47 per cent. of the net premia), there are claims pending on knowe losses and casualties which are estimated at about $160.000. EXCHANGE AND INVESTMENT FLUCTUATION ACCOUNT.
Owing principally to the depreciation at the end of 1899 of all the association's sterling investments, this account has been reduced by $16,768.13 and now amounts to $42,669.68.
Sterling exchange has been taken at 28. 84d, per tel (the demand rate on 30th December. 1899), and the relative value between dollars and tacks at 73.
INVESTMENTS,
The value on 30th December last has been taken for all the Association's investments.
DIRECTORS.
|
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per cent debentures of 18944%, Shanghai Land Investu ent Co., Limited, 5:
per cent, debentures of 1896 Shanghai Municipa. 5 per cent, debentures
Sha ghai and Hongkow Wharf 6 per
cent. debentures
cont. debentures of 1-96:
Shaghai Waterworks Co., Limited, 5 Shanghai Gas Co. 6 per cent, debentures 1899 13,972.60 Shanghai Cargo Boat Co., Imited, shared .......
8. U. Farnham & Co., Limited, shares Boyd & Co., Limited, shares
6,506.85
26.801.37
7,19 178
Union Insurance Society of Canton, Limited.
shares
2.350,00
Co-operative Cargo Boat Co., Limited, shares ....... 7,191.7J North hius Insurance Co., Limited, share. Policy stamps at agencies
Head office and London furniture Due by agencies, premia in course of collec.
tion, and sundry outstandings:
28.12
3,06.08
In accordance with the Articles of Association the present directors all retire from office, but, being eligible, offer themselves for re-election.
AUDITOR.⠀⠀
The Ceylon Observer, understauds, that Mr. The accounts have been audited by Mr. Chamberlain will not fill up the Straits Govera« 3,695,31 19.6.40 Augustus White, who offers himself for re-orship until June, that Sir Alexander Swetten- 4,1 3.92 election:
ham will continue to act until then, and thất he By order of the Board of Directors, is considered to have a strong chance of being $280,524,61
W. 8. JACKSON, confirmed in the appointment, instead of going,
Secretary. to Fiji.
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