April 7, 1902.
CONSULTING -CÓMMITTEE.
Mr. D. Gillies retires on leaving the Colony and the General Managers recommend that Dr. J. W. Noble be invited to fill his place. Messrs. Ewens, Chater and Dickson retire but offer themselves for re-election.
AUDITORS.
Mr. F. Henderson having retired, the accounts have been audited by Messrs. W. H. Polts and T. Arnold who are eligible for re-e.ection.
SHEWAN TOMES & Co., General Manag rs.
Hongkong, 1st April, 1902..
The accounts are as follows :—
PROFIT AND LOSS ACCOUNT. 31st December, 1901.
Exchange
Interest
Consulting committee's fees
Anditors' fees
$
C.
345.03 8,795.47 1,500.00 400.00
Amount written of as depreciation for 1901 91,130.27 111,820.63 Balance
$213,991.40
Balance brought forward from 1901 Dividends, etc., forfeited
Profit on sale of 140 unapplied shares Balance of working account
ales of cement
Sales of bricks, &c.
$205,583.10 3,406.36
BALANCE-SHEET.
LIABILITIES,
100,000 shares at $10, fully paid up..
Capital
Reserve fund
Due to general managers
Sundry creditors
Debentures drawn but not presented
Hongkong & S'hai Banking Corporation Balance of profit and loss
Green Island, Macao--
per last statement...
Since expended on kilns and
$ C. 2,240.87 1,501.07 1,260.00
CHINA OVERLAND TRADE REPORT.
YANGTSZE INSURANCE ASSOCIA- TION, LD.
The following is the report for presentation to the twelfth ordinary general meeting of shareholders, to be held at the offices of the Association, No. 16, The Bund, hanghai, on the 14th April, at 4.30p.m. :-
The Board of Directors have now the plea- sure to submit to the shareholders the annual report and audited statement of accounts and balance sheet to the 31st December, 19.1.
Working Account 1900 and Former Years.- This account shows a credit balance of $160,217.97 against $250,286.34 on the 31st December, 1900. The directors recommend the payment of a dividend to shareholders of 20 per cent, out of this account and the transfer of $33,098.90 to the credit of reserve fund. The account will then stand as follows:-
Dividend of 20% (-$12 per share) ..$ 96,000.00 33,098.90 To riserve fund...
31,119.07
$160,217.97
Balance to be carried forward...
The dividend will be paid in taels at exchange 73. 812 at exchange 73-taels 9.76 per share.
Working Account, 1901.-The net premia earned during 1901, after deducting return premia, re-insurance premia, &c; amount to 208,989.46 | $732,386.50 against $687,119 70 during 1900 and the account shows a balance at credit of $213,991.40
$456,758,90 on the 31st December last. The directors recommend placing the $16,901.10, being profit on sales of securities, to the credit the balance of reserve fund, and carring.forw of $439,857,80.
3
c.
1,000,000.00
327,000.00 6,017.83 600.00 20,018.81 227, 222.34 111,820.63
$1,692,709.64 $.c.
ASSETS.
Buildings and machinery, as
$ C.
186,090.00
31,981.19
$217,981.19
13,981,19
new reclamation
•
Less depreciation
Cement, raw material, &c., in stock
valued at
Land, buildings and machinery
Hok Un, Hongkong—
as per last statement
Since expended
Expended on exten. 3
$661,000,00
17,813.20
C.
sions during 1900 106,239.17
204,000.00 64,292.40
Since expended
12
315,358.97
421,598.14
Loss depreciation
$1,100,411,34 86,411.34
-1.034,000.00
151,790.02
Cement, raw material, &c., in stock
valued at
Deep Water Bay, works-
Land, buildings, machinery,
&c., as per last statement $35.000.00
Since expended
Less depreciation
2,335.05
$37,335.05
3,335.05
Bricks, pipes, &c., in stock valued at... Furniture.....
$500.00
Less depreciation
100.00
Cement on consigument valued at
Sundry debtors
Buoys and moorings..
Leas depreciation
Bricks on consignment valued at
$838.50
233.50
Value of premium on unexpired policies
Instalments paid on steam
Reservo Fund. After crediting this fund with $33,098.90 and $16.901.10, in all $50,000, as recommended above, the reserve fund will amount to $650,000.
Investment Fluctuation Exchange and Account. This account has been increased by $38,774.36 and now amounts $96,518.57.
Sterling Exchange has been taken at 2s. 6d. per tael (the demand rate on 31st December, 1901), and the relative value between dollars and taels at 73.
Investments. The value' on 31st December last has been taken for all the Association's investments.
DIRECTORS.
In accordance with the Articles of Association the present Directors all retire from office, but, being eligible, offer themselves for re-election.
AUDITOR.
The accounts have been audited by Mr. Augustus White, who offers himself for re- election.
By Order of the Board of Directors,
W. S. JACKSON,
Secretary,
Shanghai, 25th March, 1902.
The accounts are as follows:-
WORKING ACCOUNT.
For 12 months ending 31st December, Dr.
To net premia, less re-insurancès, &c To interest account.
To transfer fees account
To profit on sales of securities
34,000,00
31,035.07
'Cr.
400.00 By claims paid, less re-insurances, &o... 13,568.75 By agency commissions
70.00. By head office and general charges 64,289.67 By London charges......
By Hongkong charges
By agency charges
600.00 By directors', auditors', & committees' fees 1,378.77 y balance
WORKING ACCOUNT.
C.
⚫ By not claims and all payments account
former years........ By balance
265
******.......... $17,028.71 iQ0,217.97
$556,151.57
BALANCE SHEET. On 31st December, 1901,
LIABILITIES.
Capital 8,000 shares of $100 each, upon which the sum of $60 per share has been called and fully paid up Reserve fund
480,000.00 600,000.00
Exchange and investment fluctuation ac- 96,518.57
count..
Working account, 1901 Working account, 1900 and former years... 160,217.97 Uncollected dividends and bonus......
ASSETS.
456,758.90
4,868.26
$1,798,363.70
Midland Railway Company, consolidated 23 per cent. perpetual preference stock, £6,225. 48...
C.
67,379.12
Great Northern Railway Co., consolidated 4 per cont. perpetual preference stock, £1,845 London and North-Western Railway Co., consolidated 4 per cent. preference stock, £3,250
19,969,56
35,176.73
Great Western Railway Co., 4 per cent.
debenture stock, £1,687. 10x..
18,264.84
Great Western Railway Co., 4 per cent.
debenture stock, £2,800
30,306.11.
India 34 per cent. stock 1901, £1,983. 3s. id. 21,464.89 Mortgages on real estate at Shanghai Chinese Imperial Govt. E loan of 1886 Cash at bankers on fixed deposit Cash at bankers on current account Shanghai and Investment Co., Ltd.,
per cent. debentures of 1890 Shanghai and Investment Co., Ltd., 6
per cent. debentures of 1894 Shanghai Land Investment Co., Ltl., 5
per cent. debentures of 1896 Shanghai Land Investment Co., Ltd., 6
per cent. debentures of 1901 Shanghai Municipal 5 per cent. debentures
of 1892
Shanghai Municipal 5 per cent. debentures
of 1895
494,246.57
70,215.75
356,164.39
168,551.36
6
35,273.97
35,273.97
11,465.76
70,547.95
24,856.16
7,157.53
71,232.88
28,664.38
14,100.59
9,417.81
60,181.93 11,301.37
3,450,00
253.43
577.68
4,241.68
Shanghai Municipal 6 per cent. debentures
of 1991
Shanghai Waterworks Co., Ltd., 5 per Shanghai Gas Co., Ltd., 6 per cent, deben.
cent. debentures of 1896
tures of 1899
Shanghai Cargo Boat Co., Ltd., shares Co-operative Cargo Boat Co., Ltd., shares S. C. Farnham, Boyd & Co., Ltd., shares Union Insurance Society of Canton, Ltd.,
shares North China Insurance Co., Ltd, shares Policy stamps at agencies Head office and London furniture.
Due by agencies, premia in course of col-
lection, and sundry outstandinga..
188,615.29
$1,798,363.70
YOKOHAMA SPECIE BANK, LD.
The following is the forty-fourth report of the Yokohama Specie Bank, Ld, Yokohama Shokin Ginko), presented to the shareholders at the half-yearly ordinary general meeting, held at the head office, Yokohama, on Monday, 10th March :---
1901.
३ 0. Gentlemen,-The directors submit to you the 732,986.50
annexed statement of the liabilities and assets 91,037 63
102.00 of the Bank, and profit and loss account for the 16.901.10 half-year ending December 31st, 901.
The gross profits of the Bank for the past $840,427.23 balf year, including yen 527,081.325 brought forward from last accoun s, amount to yen $
5,755,721.683, of which yen 3,841,564.890 bave 253,652.07
42,078.75 been deducted for current expenses, interests, 40,836.74 &o.. leaving a balance of yen 1914,356.793,
that yen 24,106.67 The directors now propose
the 4,557.56 200,000 be added to
reserve fund, 12,128.62
to yen 8710,000. From the 6,307.92 raising it
remainder the directors recommend a dividend 456,758,9
at the rate of thirteen per cent. per annum, $840,427.23 | which will absorb yen 780,000 on old shares and yen 390,000 on new shares, making a total of yen 1,170,000.
Dr.
1900 and former years.
$
C.
To balance of working account 1900 from
last account
305,865.23
87,000.00 | To balance of working account, former
years, from last account
launch, steamer, lighter
and lighters in 1900
$66,410,10
Final payments on same
27,054.09
$93,464.19
Less depreciation
6,464.19
$3,60 1.00
600.00
3,000.00
$2,331.29 331.94 621.73.
Cr.
$1,692,709.64
Value of junk Less depreciation
Cash on hand :---
Head office Macao works Hok Un works
By not claims, re-insurance premia, and
promis returned, &c., account 1900 3,284.96 By bonus to secretary and staff
By dividend-former years account $12
per share on 8,000 shares By amount transferred to reserve fund
The balance, yen 544,156,793, will be carried forward to the credit of next account
NAGATANE SCHA, Chairman.. 250,286.34 Head Office, Y ›kohama, 10th Marob, 1902. $556,151.57
PALANCE SHEET. $1st December, 1901
LIABILITIES.
1
The account. are as follows
$ c.
224,476.51 8,428.38
Capital paid up
Yen. 18,000,000.000
Reserve fund
96,000.00
50,000.00
Reserve for doubtful debts Reserve for new building
8,510,000,000 409,952:450
susun sezu,,115,106.4800
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