¿
64
Bilance
Interest on mortgages, loans, &c. $107,158.33
Less interest paid, commission,
&C..
&c.
Unclaimed dividends written off
THE HONGKONG WEEKLY PRESS AND
ASSETS.
Cash on hand and at bankers Government securities belonging to the
bank
$ c. 2,235.58
19,833.74
87,324.59 2,000,0
Bills receivable, loans and advances Bills for collection receivable and branch
bal inces Adjustments
#* **་
$91,610.17 | Furniture
BALANCE-SHEET.
Capital 203,000 shares at $10 $2,000,000,00
LIABILITIES.
$
C.
Less 100,00 shares un
called
1,000,000.00
1,00 1,000,00
6 per sent, debentures
Reserve fund.
Sundries creditors
Due to general managers
Hongkong & S'hai Binking Corporation
Balance of profit and loss
4,000.00 12,2 0,00
4,740 40 6.451.51
$
C.
315.759 03 2,046,040 76
(January 17, 1903.
was imported after the decree was settled and 533 288.6 he suggested that he had botter be allowed to consider the decree which had been settled by counsel on both sides. Now the present solicitors were fiding fault with the decree, which his Lordship certainly assumed was drawn up by consent. Nothing was said at that time to indicate that the decree was not drawn up by consent of parties.
1.769,347.39 2,452.00 15,000,00
$4,631,887.81
PROFIT AND LOSS ACCOUNT. 31st December, 1902.
ន 103,695.29
C.
C.
$50,000.00
Charges, directors' fees and salaries Amount to be placed to reserve
fund.. Dividend account, proposed pay. ment of $1.961 per share on 40,453 shares (31) per share in ondon ut exchange of 17 1-16th)
145,103.95
$248 799 24
59,468.41
81,022.02
79,499.15
$1,208 892.31
Balance to be carried forward.
to next account ....
15 613.80
1
ASSETS.
$
Loank --Provident loans ..$578,315.31
Loans on mortgages, shares,
&o.
622,349.75
1,200,005.06
Furniture, as per last statement $750.00
Balance brought forward from last year ... Gross earnings for year ending 31st De-
cember, 1902...
21,235 51
7.563.74
Logs depreciation
100.00
Sundry debtors......
Cash
650,00 6,011,35 1,555 93
$218,7 9.2
$1,208.882 31
NATIONAL BANK OF CHINA, LD.
The following is the report of the directors to the twelfth ordinary annual general meeting of shareholders to be held at the offices of the Bank, Victoria Buildings, Hongkong, on Wed- nesday, 21st January, at noon :-
GENTLEMEN,-The Directors have now the pleasure to submit to you the accounts and balance-sheet for the year ending 31st Dec., 102,
Before closing the books for the year $60,000.00 had to be written off the second reserve fund for defalcations and fraud by our late compradore ia Yokohama.
The gross profits, including $21,235 51 brought forward from last year, are $248.799,24, which after deducting all charges and allowing for bad and doubtful debts leaves a net profit of $145,103.95,
This the Directors propose to deal with as follows:-To pay a dividend of $1.964 per share (in London 3/13)-absorbing $79,49 ).15, to place $50,000.0 to reserve and to tarry forward $15,613.8.
On the departure of Mr. Lauts for Europa in April Mr. Julius Focke was elected a Director but resigned his sea' in the autumn, when Mr. Lauts, having returned to Hong kong, was re-elected-this will require your confirmation.
Mr. Ewens retires in rotation from the Head Office Board and Mr. Wotton from the London Committee and being eligible for re-election effer themselves accordingly.
The accounts at the Head Office bave been audited by Mr. R. C. Wilcox and in London by Messrs. Deloitte, Dever, Griffiths and Co., Chartered Accountants.
Your obedient servant,
(. Ewers, Chairman. Hongkong, 7th January, 1903.
The accounts are as follows:-
BALANCE-SHEET.—31st December 1902.
LIABILITIES.
Capital, 750 fully paid found-
er's shares of £1 each (laid down in the East at exchange of 38.)
Capital, partly paid, £323,624 (laid down in the East at exchange of 38.)
Capital reserve fund
Reserve fund..
Notes in circulation
$
5,00 1,00
2,157,493.3: 191,973.33 05,533.35
Fixed deposits and current accounts Loars payable
Bills for collection and branch balances Drafts, acceptances and endorsements
(bills rediscounted)
Balance of profit and loss account
$
C,
C.
On 1st January, 1913, our ('APITAL, and RESERVE
FUNDS will stand as follows:- Capital fully paid founder's shares Capital partly paid ordi ary shares... Capital reserve fund Reserve fund...
|
The Puisne Judge remarked that he did not want to "barks any appeal, but there was no evidence before them to show that the order was not by consent. There should be affidavit or something of that kintt.
an
The Chief Justice added that the only ration al assumption was t'int the whol thing was by consent all through. He believed and thought that the whole order was by.consent. When the parties left his chambers there was no mention made about either side being displeased · with the decree. His memory was that no authorities were quoted to him to show that ha had no power to make that order and if it had been mentioned he would have dealt in the judgment with the alleged misconduct.
Mr. Sharp said his client had to go into Court Mr. because they were charged with fraud. Morgan Phillips had consented to the decree simply as expressing his Lordship's views with regard to the costs.
The Chief Justice repeated that he assumed $ c. 5,000.00
the decree to have been made by cousent. The 2.157,493.32 appellant admitted that the release was given to 191,973.33 him while the respondents were ander age. 115,533.35 His opinion was that an exccutor ought to be
$2,470,000,00
SUPREME COURT.
Mouday, 12th Jamnary.
IN APELLATE JURISDICTION.
BEFORE THEIR HONOURS EIR WILLIAM M. GOODMAN (Chief JustiCE), AND A. G. WIE (PUISSE JUDGE).
PAU LEUNG AND CTIERS V. PAU KWOK CHIU.
This was a petition for leave to appeal from the decree made by the Chief Justice on 10th September. In the case as originally brought Pan Leung and his two brothers applied for a petition for administration of their father's estate by the Court and for account of executor- ship to be taken, and his Lordship after hearing parties made a decree that the terins of the will be carried ont and that the usual accounts be taken. Ho order d that the release of date 15th April, 1893, be set aside and gare plaintiffs costs go far as properly incurred for the pur- pose of setting it aside. So far as the action did not ask for the s tting a ide of the releas", he could not then decide the question of costs.
Mr. E. H. Sharp, K.C., barrister-at-law appeared for the appellant (instructed by Mr. P. W. Goldring, solicitor), and Mr. M. W. Slade, barrister-at-law, appeared for the respon- dent (instructed by Mr. F. X. d'Almada e Castro, solicitor). Mr. T. Morgan Phillips barrister-at-law, who had appeared for the defendant in the original css, was also in
attendance.
\
Before Mr. Sharp began to address their Lordships,
The Paisue Ju Ige remarked that so far as be could understand, the appellant was appealing from a consent order; the whole thing as drawn up was by consent,
Mr. Sharp said he was appealing from the consent order so far as that order related to the setting aside of the release. Most of the order was by consent. The part relating to costs was not by consent, and it was that they were appealing against.
The Puisue Judge was of opinion that the learned Judge who drew up this order thought the whole thing was by consent.
a
2,42 1,000,00
The Chief Justice said this case was a little 477,295.00
anomalous. The decree was drawn up and 735,379.50 250,000.00 settled in presence of counsel in his chambers 283,572.45 and then some days afterwards there was
change of solicitors, Messrs. Deacon & Hastings 370,696.91 being engaged. The first thing that occurred 145,103.95
was Mr. Hastings writing in, requesting time to consider the matter, after decree had been $4,681,887.81
given. That was most absurd. A new solicitor
very careful.
Mr. Sharp said that as a matter of fact these young men were indebted t› the appellant in the sum of $6,000.
The Chief Justice-He must be a very kind ex 'ontor.
Mr. Sharp couteuded that the trustee was entitled to his cos's until the allegation
of against Lim
misconduct gross
wa3 had adjudicated apo, until the accounts
The other been given and enquiries made. side could have as many enquiries as they wanted. They had charged the respondent all through the petition with fraud and that was Had the reason the case came into Court. they been satisfied with the ordiniry release and accounts, the case would never have come into Court. The question of costs could be left to the end. If they could show as the result of their enquiries that the defendant had been | guilty of fraud, no doubt he would be entitled to pay the costs at the finish, and probably the costs of the action ns well.
The Chief Justice pointed out that Mr. Morgan Phillips had asked that the release ba set aside,
Mr. Sharp said it was set aside for he pu pose of taking the account.
After hearing Mr. Morgan Phillips with reference to the arrangement come to with regard to costs,
Their Lordships dismissed the appeal with costs in the cause.
The Court adjourned.
ENQUIRIES INTO COLLAPSES OF BUILDINGS.
TUNG LOI LANE,
The enquiry was resumed on the 12th inst, befors Mr. F. A. Haz lind and a common jury into the circumstances attending the fatal collapse of two houses in Tung Loi Line (near the Harbour Office) on 12th November last. Mr. F. B. L. Bowley, Crown Solicitor, appeared on behalf of the Crown, and Mr. H; W. Looker on behalf of the contractors (the Wing Sing firm), the shorers, and the architects, Messrs Leigh and Orange.
The jurors were-Messrs. W. Goldenberg, C. H. Blason, and E. W. Terroy.
H. P. Tooker, executive engineer, Public Works Department, was recalled and examined by Mr Looker and Mr. Bowley. In reply to a juryman, he said there were fifteen tons of goods between the ground and first floors of No. 12. Had that weight been all on the first floor, it would be rather heŵy for an ordinary Chinese floor.
Replying to Mr. Dowley, witness raid the floor was better supported than an ordinary Chinese floor, being supported by a double set of joists, and fifteen tons was not an excessive
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