July 15, 1901.]
CHINA OVERLAND TRADE REPORT.
The steamer building at Shanghai for the | S. C. FARNHAM, BOYD & CO., LTD. Ichang trade is now approaching completion.
Two new and more suitable steamers for the West River passenger and cargo trade have been delivered. The trade here has made a little progress, but is not likely to give any very satisfactory results until a complete and liberal revision of the regulations for naviga- ting the internal waters of China has been obtained from the Chinese Government, and
The following is the report of the Board of Directors presented at the first annual general meeting, held at 14, Broadway, Shanghai on the 5th July:-
Gentlemen. In accordance with the resolu- tions passed at an extraordinary meeting of the shareholders of S. C. Farnham & Co., Limited, held at their head office on Friday, the 14th
55
Watch" and " The Lighthouse Keeper" were well rendered and appreciatively received. The piece par excellence of the evening was Private Townley's cornet solo. The soloist certainly is a master of his instrument. A " Border Ballad and "What Care I," by Sergt.. Major Lammert were fully appreciated. Arm.« Sergt. Viggers as usual received an ovation, though his "Then I Understood," "Tell me, Mother Darling," and “Sticking Out" are not
71
until they show some interest in making their | September last, and confirmed at a meeting of / of the newest. He made up for this by one
rivers navigable.
We have to lament the loss of our colleague, Mr. Thomas Reid, who died in July last, having served the company as director since its commencement. In his place Mr. Edward F. Alford, late of Shanghai, has been appointed by the Board, which requires confirmation by the shareholders. The retiring director is Mr. W. L. Watson, who offers himself for re-election.
The auditors, Messrs. Turquand, Youngs & Co., will be duly proposed for re-election.
J. MACANDREW, Chairman.
London, 5th June, 1901.
BALANCE SHEET
At 31st December, 1900. LIABILITIES,
To share capital:-Authorised £1,200,000, first issue 60,000 shares each £10. whereof 49,589 subscribed and fully paid up
To balance of underwriting account.. To sundry creditors in London and China To loans..
To general reserve fund
To exchange reserve account
To balance from revenue £ R. d.
account
Less interim dividend of
4 per cent, declared 20th November, 1900
off for this year
83,171 19 8
19,835 12 0
£
s. d.
495,890 0 0 206,101 1 6 28,170 14 7 3,270 0 0 70,000 00 11,699 1 8
63,336 7 8
£878,467 5 5
£
8. d.
ASSETS.
£ B. d. 774,651 14 2
54,502 9 11
720,149 4 3
By steamships, bulks, ferry.
boats, &c.
Less depreciation written
(This includes the value of steamer Koi Shing, claimed from the Chinese Government.].
By coals and provisions on board ships
and in godowns
By office furniture.
By Bundry debtors in London and China,
agents' balances, freights, &c.
By cash in London and China
10,156 14 0 63 17 4
109,639 2 6 38,458 7 4
£878,467 5 5
REVENUE ACCOUNT,
Dr.
To general charges, telegrams, directors'
On office furniture
and auditors' fees
To depreciation account-
On steamships, &c....
To income tax account
To general reserve fund
£ a. d. 54,502 911 10 5 3
£
s. d.
shareholders held on the 5th October last, the
sale of the company's property and business to the new company has been duly completed.
In accordance with the resolutions passed at an extraordinary meeting held at the head office of S. C. Farnham, Limited, on the 5th February, 1901, the amalgamation with Messrs. Boyd & Co., Ltd., has been duly carried out.
the
The present company now controls proporties and business formerly belonging to S. C. Farnham & Co., Ltd., the Shanghai Engineering, Shipbuilding and Dock Co., Ltd., and Boyd & Co, Ltd.
Your directors have decided to offer to the shareholders on the register on the 12th July next, 6,900 of the 7,400 shares still unissued at the rate of Shanghai taels 225, each holder of seven shares being entitled to one new share. The directors regret to place on record the death of their colleague, Mr. Geo. Peebles, which took place on the 28th December last, and further the death, on the 8th January last, of the company's late secretary, Mr. J. S. Knowles, both of whom had been connected with the old company for many years.
The net profits, after paying all charges, and writing off the greater portion of the deficit of the late Shanghai Engineering, Shipbuilding and Dock Company, Limited, are as follows :-
Head office
...Tls. 1,133,286 58 Branch office
154,027.16
+1
Amounting in all to Tis. 1,287,313.74 After allowing for the interim dividend of 7 per cent. on 31.700 shares paid in January last, which absorbed Tls, 221.900, there remains for distribution the sum of Tls. 1,065,413.74.
With this amount the directors propose to deal as follows:
A dividend of Tls. 21 per
share
Tls, 1,014,300.00 Amount to be carried to
new account
Total
31,113.74
1,065,413.74
In accordance with § 98 of the Memorandum and Articles of Association, one of the direc- tors, Mr. H. von Rücker, retires, but, being 5,134 15 1 eligible, offers himself for re-election.
54,512 15 2 3,701 17 0 70,000 0 0
To balance transferred to balance sheet 83,171 19 8
£216,521 611
Cr.
£ s, d. By balance brought forward from 1899... 27,588 11 6 By net earnings of steamers for the year 188,816 16 5 102 6 6 By interest account By transfer fees
13 12 6
£216,521 6 11
Concerning the Crefeld-Peleus collision, the N.-C. Daily News says:-All parties concerned being very reticent about this matter, we have not been able to obtain very much information about the collision. The affair seems to have occurred in the early part of Tuesday after noon as both ships were coming in. The bows of the Peleus came in contact with the Crefeld amidships, and both ships sustained very serious damage. The stem of the Peleus was badly twisted to the starboard side, and several plates on the starboard side, both above and below the water line, were buckled. The Crefeld was struck right in the sick-bay on the starboard side, and had several plates stove in. Having no cargo on board, the Crefeld was able to go into dock yesterday. She is docked at the Cosmopolitan Dock. The Peleus is lying along. side the Associated Wharves discharging cargo, after which she will go into dock. It is thought that her repairs will take at least three weeks.
The accounts have been audited by Messrs. Geo. D. Scott and J. D. Thorburn, who retire, but, being eligible, offer themselves for re- election.
VOLUNTEER PROMENADE
CONCERT.
new song entitled "Oh, be Careful," rendered as The well-known only he can render such. duet "Excelsior," by Sergis. French and Tho Simmers, received deserved applause. West Country song Widdicombe Fair" by Gunner Woodgates, who succeeded in embodying the names of the officers and Volunteers in the chorus, made quite a hit. The recitation, The Day of St." Aloys," by Lieut. J. Mossop, H.K.V.C., was very humorous and well de- claimed, but far too long. The selections by the band were all ably rendered.
During the past year or two, whenever it be- came known that the Volunteers were to give a Promenade Concert, the Hongkong public has been taught to expect something very much above the average of amateur performances of that kind, and if Monday night's con cert fell short of the expectations of many, it was more the fault of those expectations having been too high than from any lack of merit in the fare provided. As the proceeds of the concert given are to be devoted to the Volun- teer Band Fund, the committee had every reason to be gratified with the results from a financial point of view. The gaily decorated ground was filled to its utmost capacity, there being at least between 600 and 7.0 people present. H.E. the Governor and party and H.E. Major-General Gascoigne and party also honoured the entertainment by their presence. The scene presented during the interval by the spectators' promenading was a sparkling one.
On the whole the entertainment proved a success, though one would prefer to seo such able vocalists as Sergts. French and Viggers learn some new songs now and again. The old ones are very good, but they have been heard much too often.
The programme opened with an overture ably rendered by the band of the 3rd Madras Light Infantry, followed by Sergt. French's old but still popular song, "Queen of the Earth," and the equally well-known rhapsody
· Mona." Corpl. W. J. Terrill's "The Last
HONGKONG RIFLE ASSOCIATION.
SHORT RANGE CUP.
Mr. Baldwin recorded his first win on this Cup on Saturday with a good 95. The following wore the best cards:-
*D. Baldwin *Q.-M. 8. Wallace *C. A. Ormsby F. Penning... H. Horley Ar. Sgt. Blair
200 500 600 Handi- To- yds. yds. yds. cap. tal.
29 35 31
95
32 30 31
93
23 29 27
14
29 31 23
30 31 27
30 30 27
Sgt. Wake, R. M.L.I.
32 28 26
86
M. 8. West, R.E A. Mackenzie
25
29 28
3
85
27
8-1
29 28 * Winners of spoons.
ROYAL HONGKONG GOLF CLUB.
CAPTAIN'S CUP AND SILVER MEDAL FOR JULY. The winner returned an excellent card, marred only by a 7 at the long hole.
The following were the scores handed in
"CAPTAIN'S CUP.
|
79
Mr. T. S. Forrest Capt. D. W. Clapham, R.G.A. 90 Mr. E. J. Grist
011 40000
គគគគគ
87
81
91
6
C. H. P. Hay C. M. G. Burnie
...105 18
91
11 entries.
POOL.
Mr. T. 8. Forrest
>
79
Capt. D. W. Clapham, R.GʻA. 90 Mr. E. J. Grist
"
C. M. G. Burnie
5 entries.
91
01
81
5
6
0143 30 3
5888888
The quarterly meeting for the MacEwen Cup will be held from Friday, 12th, to Monday, 15th inst.
A copy has been sent to ns of the aunnal Shell" Transport and Trading report of the " Co., Ld. We note the year's profits were £376,392. 12s. 10d. as compared with £369,475, 108. 3d, in 1899. After providing for income tax for the year 1899, management commission, directors' and auditors' fees, there remains a balance of £985,364. 28. 11d., which the directors propose to deal with in the following manner :~~~ Interim dividends already paid at the rate of 10 per cent. per annuin, free of income tax (as compared with 8 per cent. for the ye r 1899) £190,000; provision for depreciation of steamers and installations (making the sum standing at the credit of this account £192,369, 11a. Od.) 79,399.11s.11d.; balance carried forward (as compared with 139,621. 7s. 6d. for the year The directors state the 1899) 1ī5,964. 118.0d. Company's earnings have suffered materially by the war in China, their territory in Tientsin, looted by the Chinese, subsequently was seized and is still in the possession of the German military authorities. Claims have been duly made for compensation.
I
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