September 23, 1901.]
QUEEN VICTORIA MEMORIAL
FUND.
SUBSCRIPTION LIST.
Amount already subscribed H'kong Land Investment Co., Ltd. Members of Police Force p. Acting
Captain Superintendent
Staff and Boys of Queen's College
p. A. J. May
CHINA OVERLAND TRADE REPORT.
AUDITORS.
Messre. J. H. Cox and W. Hutton Potts retire, but offer themselves for re-election.
R. L. RICHARDSON,
Chairman,
Hongkong, 2 th (optember, 1901,
The following are the accounts and balance sheet:-
:-
WORKING ACCOUNT, 1.00. On 30th June, 1901.
1,089,424.22 140,993.24
82,579,178.10
828,507.20
250
231 20
218.20
Employees L.M. Customs p. R. R.
Moorhead...
Dr.
170
Employees China Sugar Refinery
-+
To working account, balance on 30th
June, 1900
1,348.760,61
p. J. M. Forbes
115
F. von der Pfordten
To net premium from 1st July to 31st
December, 1900
100
To interest
Dorabjee Nowrojee...
100
8.P.O.p. Actg. Postinaster-Generat
74
W. Powell, Ld....
50
Ellis Kadoorie
50
Cr.
Holtz S. Jacob & Co.
50
By agency commissions
S Ր. 53.049.83
Kelly & Walsh, Ld.
50
By head office, branches and agency
charges
50
By remuneration for half-your ending 31-t
Lan Chu Pak
25
She Posham
JO
December. 1900, to directors, commit. tees and auditors
Tse Tsau Tai
10
By losses and claims paid
W. Lysaught & Son
By exchange
10
E. D. Sanders ...
10
By bonna on contributions account 1900 (declared 20th April, 1901) 20 per cent.
A. H. Barlow
10
By balance
306.999.61 597.543.38
10
H. W. Fraser,
10
$2,579,178.10
E. Deacon...
10
H. C. Sandford
B. C. M. Johnston
G. H. Ardron
Wm. Inglis
Mutual Stores
R. Edwards
R. E. N. Padfield
*E. M. Knox
H. A. Macintyre
H. A. Courtney
L. J. C. Anderson J. Kennedy
$30,170,60
Those who intend subscribing and have not yet done so will please send their subscriptions to either of the Honorary Treasurers, care of the Hongkong and Shanghai Bank, on or before Wednesday, the 25th inst., on which day the
lists will close.
C. P. CHATER, }
T. JACKSON,
Hon. Treas.
UNION INSURANCE SOCIETY OF CANTON, LD.
The following is the report for presentation to the shareholders at the twenty-eight ordinary meeting to be held at the Society's offices at noon, on Thursday, the 10th October :--
190. The net premium collected for the year, after deducting returns and reinsurances. amounts to $2,982,643.34. After providing for a bonus of 20 per cent, on contributions paid in May last, there remains at credit of working account a balance of $597,543.38 as per annexed statement. From this sum the Directors re- commend the payment of a dividend of 823 per share, equivalent to 46 per cent, on the paid up capital of $50 per share, and an addition
to the reserve fund of $75,000 raising the re serve to $1,500,000. The balance remaining of $292,543 38. they propose to carry forward to under-writing suspense account to close the account for the year 1900.
133,119.1
11,800.45 1.469.985.88 1.680.81
WORKING ACCOUNT, 1901.
On 30th June, 1901.
Dr.
To net premium from 1-t January to 30th
June, 1901
*
To interest...
Cr.
By agency commissions
By head office. branches and agency
charges
By remuneration for half-year ending 30th June. 1901, to directors, commit-
tees and auditors.
By losses and claim- paid By exchange By balance
Dr.
BALANCE-SHEET.
On the 30th June, 1801.
To capital 10,000 shares of $8250 cach
$2,500 000 upon which 50 per share called and paid up
To reserve fund
To unclaimed bonus and dividend To exchange fluctuation account To investment fluctuation account being
c.
1.91.264.09
81.182.73
$1.002.746.82
X
SUPREME COURT.
Monday, 16th September.
249
IN APPELLate JurisdiCTION,
BEFORE THEIR HONOURS & G. W195 (ACTING CHIEF JUSTICE) AND T. SERCOMBE SMITH (ACTING PUISNE JUDGE.).
LUK LAI CHO . KINGHORN AND MACDONALD.
This was an application for a now trial of this action for damages for breach of warranty and authority, in which Acting Chief Justice Wi89, when the case first came before the Court on 26th August, gare judgment for the plaintiff, Luk Lai Cho, and allowed the question of costs, on the application of the defendant firm's counsel, to stand over till the end of the Octo- ber sessions.
Mr. E. Sharp, barrister-at-law (instructed by Mr. J. S. Hurston), appeared for the appellants, Messrs. Kinghorn and Macdonald, marine engineers. Beaconsfield Arcade, and the Hon. H. E. Pollock, K.C., Acting Attorney-General (instructed by Mr. J. Hastings), represented the plaintiff, Luk Lai Cho, merchant, 32, Bonham Strand.
on
Mr. Sharp said the application was for a new trial on the ground that certain evidence behalf of the defendants at the trial before tho Court on the 26th August was tendered and rejected. Before indicat- ing the nature of that evidence, it would be perhaps as well, he said, to briefly review the facts of the case. At the beginning of October inst year, one T. H. Kingsley, then resident in Shanghai, was the owner of Kowloon Marine Lot No. 39, and the defendants wore his special agents for the purpose of obtaining offers for that property. Negotiations between the de- fendants as agents and the plaintiff began on 4th October and continued till 20th October, 13.370.80 the day on which the agreement between the 389.228.64 parties for the purchase of the lot by the plain- tiff was made. The correspondence began on 4th October with a letter from Messrs. King. 21.992,766,82 + horn and Macdonald to Mr. Kingsley, in which they referred to an offer made by the plaintiff for the purchase of the land.
33.53197
170.28.38
883,13
1,365.189.94
500,091 00
1
Acting Chief Justice-Is it necessary for us to know the contents of the correspondence? The application is one for a new trial.
Mr. Sharp replied that he thought it likely 1,425,000.00 | that his Lordship did not quite grasp the facts 29.525.00; of the case at the first hearing, and for that 593 379.98 | reason it might be better that the Court should
now hear the contents of the correspondence. 71,730.19 1
Acting Chief Justice- I went on your own 597.543.38 1.365,189.91 | pleadings,
5 8,096.07 Mr. Sharp said the pleadings might perhaps 200,000.00 have dealt insufficiently with the facts. 107.699.03
Acting Chief Justice-You cannot go back
85.411483,59
on your own pleadings.
the increase in market value of securities To working account. '900, balance To working account, 1901, balance To reinsurance fund
To underwriting suspense account To sundry creditors
Cr.
by cash on current account with the "Hongkong and Shanghai l'anking Cor-
poration
By cash on deposit with bank« in Hong-
kong and Shanghai .
By cash invested in debentures at Hong-
kong and Shanghai
By cash invested on mortgage», víz. :
In Hongkong
In zhanghai
$525.000.00 907,216.48
1901. The position of the Society for the fiy amount invested in London, viz. :
present year, as far as it can be ascertained, is
as follows:
Balance of working account to
the 30th June as per an.
nered statement
Add estimate of premium to
30th September
Estimate of losses to pay
DIRECTORS.
...$1,365,189.94
760,000.00
82,125,189.94
Deposited in banks
Invested in sterling secu-
rities
Inrested in rupee paper
(market value at dates
£34,500 0 *
119, 426 9 19
*27,000 0
44
129,328.12
487, 1L, 1L
After further discussion Mr. Sharp said the correspondenco was material as indicating ex- actly the facts of the case.
Acting Paisao Judge--I don't think it is necessary at all
Referring to the terms of the contract entered into between the partios for the pur. 325, 181 52 | chase of the land-that confirmation by "Mr. Kingsley was necessary before the purchase could be completed, the Acting Chief Justice said the words in a note from the defendants to the plaintiff, **now in a position to accept your offer definitely appeared to convey absolutely that confirmation had arrived.
.132.216.18
£211,016 9 10 2,116,164.9 By amount invested in Melbourne, viz. :
Deposited in banks
Invested in sterling secu-
rities
£2,000 R
19,796 13 U
(market value at date) .....£20,796 15 0 670,000,00
By amount at debit of branches and
agencies $1,455,189.94 | Py bills receivable By sundry debtors
Since the last general meeting Mr. H. W. Slade has joined the Board, and Mr. J A. MacKay has resigned his seat on leaving the Colony.
In accordance with clause 86 of the Articles
of Association, Mr. C. 8. Sharp and Mr. G. H. Medhurst retire, but offer themselves for re- leection.
207,967.30
583,724.12
Mr. Sharp suggested that the pleadings be amended, but Mr. Pollock said the suggestion came altogether too late, judgment already having been delivered. There was, he sub- mitted, no case in which any amendment of the pleadings had been granted after judgment.
Acting Chief Justice-I may state at once, Mr. Sharp, that if I could see my way to grant the amendment I would do so.
Mr. Sharp said he did not ask their Lord. 16,665 90 ships to amend the pleadings or to introduce 118,142,62
any new item, bat to put on the words the con- struction which was intended. He contended that the word "prior" in the defendauts' answers included “up to and at the time of."
$5,411,183.59 +
Sterling exchange taken at 2s. Od.
With the Naral and Military Record of the 15th ult., there is published an excellent supple- ment in the shape of a photograph of H.M.8. Centurion. The picture is a capital one.
Their Lordships eventually decided to grant the application for a new trial and to allow the amendment in the defendants' pleadings, do- fendants to pay all costs attached to the present proceedings.
No comments yet.
Private notes are available after approval.