bho wants / he helcentres abo
Atigüist 26, 1901.]
at the same time, earn profitable return on its present market value. If there are any questions, I shall be pleased to answer them.
There were no questions, and the CHAIRMAN therefore proposed the adoption of the report and accounts, submitted.
Mr. CRUICKSHANK Mr. Chairman and gentlemen, I have very much pleasure in seconding the proposal that the past accounts and report for the half-year be adopted. I think we ought to congratulate the directors on the satisfactory result of the working of the company for the half-year. (Hear, hear.)
The motion was then put to the meeting and carried unanimously.
Mr. Ho Foux proposed the re-election to the Board of Directors of Mr. R. (). Wilcox.
Mr. KADOQRIE seconded, and the motion was carried, nem, con.
The next business was the appointment of auditors for the ensuing half-year, and Mr. Davis asked if Mr. Gaskell was eligible for re-election in view of the statement that he was a director of another hotel company here.
The CHAIRMAN-We took the precaution of asking Mr. Gaskell, seeing that his name had been mentioned as a probable director of the new hotel at Craigieburn, whether he intended to offer himself for re election for the present half-year, and he replied in writing that he did intend to offer himself.
Mr. DAVIS thought that if Mr. Gaskell was to be a director of another company he certainly should not be auditor of the Hongkong Hotel Company. He would probably be in a position then to secure information which he might utilise for the benefit of the other company.
Mr. Wilcox-He cannot act as director for another company until that company is formed. The CHAIRMAN-Mr. Gaskell has suggested that it is a very open question whether the new Craigieburn Hotel will be started as a company, However, this is a matter not for the directors, but for the shareholders, and the directors leave it in the hands of the shareholders. I think you might consult together for a few minutes and let us know what your wishes are. They could then be put to the meeting.
After a brief consultation amongst the shareholders, Mr. DAVIS, seconded by Mr. CRUICKSHANK, proposed that Mr. Fullarton Henderson be appointed auditor in place of Mr. Gaskell, should he be willing to act, and that Mr/ W. H. Potts be re-elected as auditor.
This was carried unanimously
The Chairman-That is all the business, gentlemen; thank you for your attendance. Dividend warrants will be ready to-morrow morning, if you will kindly apply for them.
The following is the report:-
Gentlemen,-In accordance with section 56 of the Articles of Association, the directɔrs now beg to submit their report for the half-year ended the 30th June, 1901.
ACCOUNTS.
The profit on working account for the six months amounted to $125,101.02, as compared with $100,796.98 for the corresponding period of 190, being an increase of $24,304.04.
The profit and loss account, including the sum of $698,29 brought forward from 31st December, 1900, shows a credit balance of $119,407.30, which your directors propose to apportion as follows:-
To pay a dividend of 12 per cent.
for the half-year, absorbing $72,000.0) To write off from value of furniture
and fixtures
CHINA OVERLAND TRADE REPORT,
The following are the accounts :-
BALANCE SHEET.
30th June, 1901.
LIABILITIES.
Capital-
12,000 shares at $50 each (fully paid up) 1,000 mortgage debentures, $
authorised, issued at $500 each.
Less 550 ditto not issued
Unclaimed dividends Accounts payable Reserve fund.
Profit and loss account.
ASSETS.
0.
500,000,00 275,000.00
Value of land and buildings as per last
report:
Marine lot No. 5 and remain- ing portion of marine lot No. 3
Remaining portion of marine
lot No. 7.
Praya reclamation
$
372,045.60
C.
363,108.20 21,291.77
Value of furniture and fix-
tures as per last report... 106,296.59 Less written off, as recom. mended in last report......
Since added
8,000,00
8103,290.59 2,684.06
Stock of linen, crockery & glassware, &c. Stock of wines, provisions, household
sundries, coal and stationery Shares in public companies Licenses attaching to 31st December, 1901 Fire insurance to 31st December, 1901
Steam launch Hongkong and Shanghai Banking Cor
poration
Hongkong and Shanghai Banking Cor-
poration, No. 2 account Cash in hand...
Accounts receivable
$
C.
0.
761,445 57
REVIEW.
173
China and the Allies, by Henry SavagE- LANDOR. London: William Heinemann. 600,000.00 We are indebted to Messrs. Kelly & Walsh Ld, for a copy of the latest work of this well- known traveller and author. It consists of two bulky volumes, containing much letterpress and 225,000.00 many illustrations, mostly of photographs of tho 21,930.09 indifferent "snap-shot" type, and several re- 2,588.00 prints of excellent water-colour sketches by the 73,000.00
author. The book is the largest and most com- 119,407.30
prehensive that has yet appeared on the Boxer $1,041,925.89 rising and the subsequent operations' of the Allied Powers. In fact, it is almost too much detail for the average reader to tackle, however keen his interest may be in the recent upheaval of the Celestial Empire. Mr. Savage-Landor's experience as a traveller is widely known; he is a keen observer, and a narrator of much ability. He does not always impress Eastern residents with being as accurate as he might be, not that he can be charged with exaggeration but that his opinion and description are sometimes influenced by passing impressions of men, institutions and surroundings, which are prejudicial to an exact representation. The books on the subject he now deals with are numerous, and they are multiply. ing; they are mostly made up of personal reminiscences, and Mr. Landor would have done better had he confined himself to one half of his book which contains his experiences and left the balance, which he has written from hearsay, to others more qualified to deal with it. He has also reprinted a good deal of the Blue- book on Events in China, and other matters, and interpolated a long account of a journey he made to the Great Wall some years ago. Had Mr. Landor confined himself to actual experiences and included them in one volume of inoderate proportions, he would have shown much wisdom, and propitiated his readers. It must not, how- ever, be deduced from this that his book is of small worth; on the contrary it forms a valu- able addition to that rapidly-increasing 2,832.38 library on modern China, and will give to the reader a good, if much detailed, concep- 6,750,00 tion of events beginning with the Boxer revolt and ending with its retribution. It will reveal the actual conditions of the Chinese masses and the missionaries in the interior and their relative positions, the ways of the mandarinate, and the duplicity of the Chinese Government in their transactions with for- eigners. The siege of Tientsin, the advance on Peking, and the heroic defence of the Lega- tions are presented in readable if verbose form ; but the interest of the reader is sustained by the innumerable photographs of incidents connected with these historical events. Con- sequently Mr. Landor's book is one that should be read, and as much as possible of it bo $136,308.63 remembered.
105,980.65 39,620.11
29,669.24 7,033.81 469.50 1,766.05 13,100.00
62,698.01
2,621.70 258 07 17,262.68
$1,041,925.39
PROFIT AND LOSS ACCOUNT. For the six months ending 30th June, 1901.
Dr.
To bad debts and refunds. To mates
To half-year's interest on debentures
($225 000 at 3 per cent.) To fire insurance
To Crown rent
To directors' and auditors' fees To balance, to be appropriated as follows. - To repairs and renewals account.
To pay a dividend of 12 per cent. for the half-year, ab- sorbing
To write off furniture and fix.
tures
C.
72,000,00
10,000,00
To set aside against repairs
and renewals
10,000.00
To place to reserve fund To carry forward to new BC-
count
17,090.00
10,407.30
Cr.
By balance from 31st Dec., 1900 883,608.29
Less dividend at 10 $ 0. 60,000,00
15,000,00
per cent..... Less transfer to re-
serve fund Less set aside for re- pairs & renewals Less written off fur-
niture and fixtures 3,000.00
5,000,00
By rents of shops and offices,
new building
83,000.00
3,070.00
By rents of shops and offices,
old building
6,120.00
By dividend on shares
10,000.00
By scrip and transfer fees
By unclaimed dividends forfeited
10,000.00
By bad debts recovered
To transfer to reserve fund To carry forward to new account.
17,00 .00
By interest account
$119,407.30
To set aside against repairs and
renewals
DIRECTORS.
10,407.30 By profit on hotel working account for the
six months ending 30th June, 1901
0.
25.35
1,739.95
478.90 3.200.00 1,874.75
119,407.30
$
C.
698.29
In his opening chapters, the author deals with the Boxer rising, availing himself extensively of Sir Claude Macdonald's correspondence on the subject, previously published as a blue- book. Mr. Landor holds the Buddhist monks responsible for the Boxe: rising, alleging that it was the outcome of the promulgation of “the diabolical propaganda" of the Buddhist priests. This may be true to an extent; in fact many Chinese are inclined to the same opinion, but the anthor is evidently very much incensed against these native priests on account of previous harsh treatment he received at their hands. The Buddhist priests may have stirred 9,190.00
524.00 up much enmity amongst the ignorant peasantry 58.00 against foreigners, and missionaries in particu 215.50 lar, but it cannot be accepted with that 82.10 importance Mr. Landor seeks to place upon it. 439.72 In endeavouring to secure facts to support this 125,101.02 theory, the author goes too far in stating ♪**
Incidentally it is well to mention that in Canton $136,303.63 | alone, during the two months preceding the outbreak of hostilities, over 2,000 executions took place of Chinese belonging to the Reform party, or who had pro-foreign tendencies. “
REPAIR AND RENEWALS ACCOUNT.
Dr.
Mr. B. C. Wilcox retires by rotation, but To payment on account of repairs and re- offers himself for re-election.
AUDIT.
•
The accounts have been audited by Meurs. W. H. Potts and W. H. Gaskell, who offer themselves for re-election.
Edward OSBORNE,
Chairman,
Hongkong, 14th August, 1901.
newals during the half-year ending 30th June, 1901
CT.
By balance forward from 31st Dec., 1900. By transfer from profit and loss account
as recommended in last report............................ By profit and loss secount
C
0.
This is altogether inaccurate. H.E. LI Hung-chang when he assumed the reins of 9,143.95
office at Canton beheaded bad characters 2,269.20 | wholesale, but these were not of “pro-föreign tendencies "unless of the bushranger type; 5,000.00 those beheaded were all robbers or pirates. 1,874.75 Mr. Landor pays a well-deserved tribute to the French Minister at Peking, who $9,143.95
WES "almost the only one of the foreign
བལ་ག
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