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April 6, 1901.]
CHINA-BORNEO CO., LIMITED.
The following is the report for presentation to the shareholders at the second ordinary yearly meeting, to be held at the offices of the Company at noon on Saturday, 13th April 1-
Gentlemen, -The manager and consult Ing committee beg to present to the share- holders the second ordinary yearly report of the Company.
...248,694.94
The net profit for the year after pay
ing all charges amounts to To this has to be added the balance
brought forward from last account 23,494.96
72,189,90
From this has to be deducted: Fees to consulting committee
རྩྭ་་
1,500.00-
Leaving available for appropriation $70,689.90 The consulting committeo recommend that a dividend of 25 per cent, on the subscribed capital be paid to shareholders
To write off launches and lighters To carry to reserve
To carry forward to next account
++
CONSULTING COMMITTÉE.
$29,270.00 10,000.00 30,000.00 1,419.90
$70 689.90
In accordance with the Articles of Assoc`ation Hon, C. P. Chater, C.M.G., retires, bat being eligible offers himself for re-election.-
re-election.
AUDITOR.
The accounts have been audited by Mr. Fullerton Henderson, who offers himself for
J. WHEELEY, Manager.
Hongkong, 27th March, 1901.
STATEMENT OF ACCOUNTS.
To 31st December, 1900. LIABILITIES.
Capital:-
916 shares each $20 paid
6,584 shares ench $15 paid
$18,320,00 98,760.00
7,500
Sundry creditors
Contingency account:-
Provision against loss of advances to
contractors and labourers
Balance of profit and loss account
Hongkong saw mills:--
Value as per last account
Since added
C.
CHINA OVERLAND TRADE REPORT.
GREEN ISLAND CEMENT CO., LIMITED.
The following is the report for presentation to the shareholders at the twelfth ordinary general meeting, to Le held at the office of the general managers, op Saturday. 13th April,
at il a.m.
Annexed we have the pleasure to lay before shareholders a statement of accounts made up to 31st December, 1900.
The net profit, including the amount brought forward from the previous year, amounts to $82,896,57, which it is proposed to deal with as follows, viz:-----
To place to reserve fund
$812 50 To pay a dividend of 8 per cent 79,843.20 To carry forward to next year's
account
44
2,240.87 The profit on working is considerably larger than that of last year, but, in order to introduce the brand to new markets and to find an outlet for our increased production, lower prices had to be accepted at first, in consequence of which the average price obtained per barrel was rather less than what we may expect in future when our cement has become firmly established on those markets. In accordance with a special resolution passed on 12th April last, the paid- up capital of the Company was raised to 81,000,000, but the benefit of this increase has not yet made itself felt owing to the great delay and loss of time experienced in having the necessary additional machinery made at home. The brick and tile works at Deep Wator Bay, we are glad to say, still continue to leave a good profit on their original cost to the Company.
CONSULTING COMM`TTEE.
Messrs. Ewens, Chater, Dickson and Gillies retire, but offer themselves for re-election. It is with great regret that we have to record the death of Mr. Li Sing, who was associated with the Company for many years.
AUDITORS,
The accounts have been andited by Messrs. F. Henderson and W. H. Potts, who are eligi-
117,030,03 | ble for re-election.
5,661.64
Cement, raw material, &é.. Deep Water Eay, works
Cost of land, buildings, ma- chinery, &c., as per last statement
New kilns and building
Less depreciation
Pricks, pipes, &c. in stock Furniture...
Sundry debtors Cement on consignment
$30,000:00 7,290.58
$37,200.58 2,290.58
Valne of promium on unexpired policies... Cash on hand :-
Head office
Macao works
Hok Un works..
$3,070.67 229.05
15.37
Hongkong and Shanghai Bank Instalment paid on steam-lighter, launch
and lighters
1289
141,087.47
35,000.00 29 385.63
500.00 10,552.75 53,023,44
862.92
8,314.00 109 931.49
66,410 10
$1,452,742.65
SUPREME COURT.
Monday, 1st April.
IN ORIGINAL JURISDICTION.
BEFORE HIS HONOUR SIR JOHN CARBING- TON, U.M.G. (CHIEF JUSTICE).
A LIQUOR STORAGE DISPUTE. The suit of Luiz Maria Jacques Alvarès v. The Hongkong and Kowloon Wharf and Go- down Co. was set down for hearing. It was brought by the plaintiff, who is a merchant and commission agent, carrying on business at 39, Queen's Road Central, under the style or firm name of L. M. Alvares & Co. On or about the 4th day of September, 1899, the firm re- ceived a consignment of brandy and anisette from Manila by the steamer Diamante, and stored the same with the defendant Company. Two days later, namely, on 6th September, the plaintiff inspected the goods in the godown, and found them intact. Subsequent to that time the defendant Company had failed to take proper care of the goods, and on 19th Septem. bor the plaintiff received a letter from the defendauts stating that the floor of one of their godowns had collapsed, and that 125 $
demijohns, part of the said consignment, 500,00 had been damaged. He subsequently examin- 3.044.53 ed the consignment and found that a number 1,500.00 bad been totally destroyed, and that 8x other d-mijolins, part of the said consign- 82,896.57 ment, were inju ed and so grantly lo939ned in value that he (the plaintiff) declined to take deli- $ 45,970.25 very of the sam. Two other demijohns, the plaintiff averred, were missing. He therefore claimed $8,032.67 alleged damages sustained by reason of the loss of and injury to the 133 demi- johns referred to.
SHEWAN, TOMES & Co., General Managers. Hongkong. 3 th March. 1901.
PROFIZ AND LO¬S ACCOUNT. 31st December, 1900.
Donation to Indian Famine Fund
Consulting committee's fees Anditors' fees
C.
400,00
Amount written off as depreciation for 1900 56.729.15
Balance
8,995.00 72,189.90
$203,916.54
ARSETS.
8 C.
Interest
$38,459.48 10.594.52
Sandakan saw-mills
49,054.00 26.000.00
Launches and lighters :-
Value as per last account
$18,000.00
Less value of lighter sold
2,500.09
15,500.00
Cost of new lighter China
since added
8,309.96
Sales of cement
23,809.96
Sales of bricks, &o
I and and house property
4685.40
Sandakan engine works
3.644.01
Furniture
500,00
50,401.19
11,381.86
2,142.50
Rough and sawn timber, stock of
Stores, stock of
l'alance brought forward from 1900 Exchange
Balance of working account :-
Hongkong and Shanghai Bank, cash with 21.452.97 | Capital:
Sundry debtors
Cash in hand
10 844.35
$203,916 54
WORKING ACCOUNT, 19.0. Dr.
$ C.
17,165.50
487.00
100.00
and general charges
To preliminary expenses
To auditor's fee
To cost of management, office expenses
To balance carried to profit and loss account 48,694,94
By profit on sales of rough and sawn tim-
ber, &o
By scrip fees.
By interest
Cr.
$66,447.44
$
65,831.17
C.
598.27
18.00
;
$104,853.00 6,625.69
BALANCE SHEET.
LIABILITIES.
99.894 shares at $1. fully paid up Bearve fund
Due to general managers Debentures drawn but not presented Sundry creditors
Balance of profit and loss
ASSETS.
Green Island, Macao:--
Buildings and machinery, as
per last statement New kilns and machinery
Less depreciation.........
$180,000.00
18,233.76
$198,233.76 12,233.76
$66,447.44 | Cement, raw material, &c., in stock
$ 0. 34.476.21 10.35
111,483 69
$145,970.25
C.
326.187.50
The defence was an admission that 133 demi- johns were stored with the defendant Company. but that 125 only of them wore destroyed. It was denied that there were any missing, and that the only damage done to the demijohus not so destroyed was that the seals were cracko 1. The Company stated their willingness to pay for the 125 demijohns so destroyed, and to pay 998,040.00 to the plaintiff his losses in respect of two other 7,051.43 demijohns sent by the Company to the Govern- 600.00 ment analyst for analysis. The defendants 37,967.15 stated that the so-called brandy was not brandy 82,896.57 | at all, but was a mixture of rectified spirit de. rived from sugar, with sugar, water, and $1,452,742.65
the flavouring essence of rum added, and was not of a greater value than $13 per demijohu. $
They denied their liability to pay for the re- maining six demijohns. They therefore pail into Court $1,916 83, being the value of 9. demijohns of so-called brandy at $13 per demi- john, together with $80.83 freight and charges thereon, and $500 commission by way of damages generally, and stated that the sum paid was enough to satisfy the plaintiff's
machinery as per last statement
Final payments on above..... 26,760.82
By amount brought forward from last ac-
count
By balance of: working account brought
down
PROFIT AND LOSS ACCOUNT.
To amount available for appropriation...... 72,189.90
$72.189 90 $ 0. 23,404.96
48,694.94
lok Un, Hongkong :—
$ C.
Cost of land, buildings and
$676,413.99
Less deprociation.....
872,169.90
c.
186,000.00 42,435.54
$703,204.81 42,201.81
C.
661,009 00 106,239717
Payment account now extension to 31st
December, 1900
claim.
Mr. Sharp (instructed by Messrs. Monnsey and Bratton) appeared for the plaintiff, and Mr. J. J. Francis, K.C. (instructed by Messrs. Deacon and Hastings) represented the defen- dant Company.
Mr. Sharp, in opening, said that no doub the court was fully aware of the peculiar posi tion in which the plaintiff found himself, that
1
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