August 1, 1963.]
WILLIAM POWELL, LIMITED.
The report of the above Company, for presentation to the shareholders at the second ordinary general meeting to be held on Wednesday next, is as follows:-
The directors now beg to submit their report on the working of the Company for the year to 30th June, 1903.
The profit and loss count, including the sum of $1.182.85 brought forward from 30th June, 1902, shows a credit balance of $26,961.39, which your directors propose to appropriate as follows:--
To pay a dividend of 10 per cent.,
absorbing...
To write off stock on hau
To write off fixtures and filings
To write off goodwill.....
To frite off bad debts
To carry forward to new account
DIRECTORS,
$12,000.00
7,000,00 1,566.83
Cr
CHINA OVERLAND TRADE REPORT.
appropriation 32,875,683.17, bút of which tho directors recommend the payment of a dividend of one pound and ton shillings sterling prats, 31s: December, 10:28 $1,435,178.73 share, which at 1:6 will absorb $533,3 3 33.
The difference in exchange betwè n 4/6, the rate at which the dividend is declared, and 18, the rate of the day, amounts to 8908,666.67.
The balance $1,435,688.17 to be carried to new profit and loss account.
DIRECTORS.
Mr. D. M. Moses, Mr. G. Balloch, aud Mr. G. H. Medhurst having resigned their seas on leaving the Colony, Messrs. E. Shellim, H. W. Slade, and E. S. Whealler have been invited to fill the vacancies; these appointments | require confirmation at this meeting.
AUDITORS.
The accounts have been audited by Mr. W. 1,265,40 | Hutton Polts and Mr. A. G. Wood; the lattor 371,79 acting in the place of the Honourable C. 8. 4,757.42 Sbarp, who is absent from the Colony.
A. J. RAYMOND,
Chairman.
$26.961.39
lu accordance with the articles of association Messrs. Thoe. H. Reid and W. Clement Dr.w retire, but are eligible for re-election.
AUDITOR!
Mr. W. H. Gaskell, having returned to the Colony, resumed the audit of the books, and your directors recommend his re-election.
Tros. H. Rein,
Hongkong, 20th July, 1941
Tho acconuts are as follows:-
BALANCE SHEET,
Chairman.
For the year ending 20th June, 1903,
LIABILITIES
Capital-13,000 shares at $10 |||
Bills payable..
Accounts payable
Dividends uncollected
Proft and loss account
Stook on haud
AssETS
Fixtures and fittings ........
Goodwill
Cash in Hongkong and Shanghai Bank
Cash in hand
Accounts receivable
F. A. Vitali, London agent
120,00,00
773.83 3,267.2)
142.50
26,961,39
Hongkong, 28th July, 1903.
The accounts are as follows: ABSTRACT OF ASSETS AND LIABILITIES.
30th June, 1903.
LIABILITIES.
Paid-up capital Sterling reservo fund bilver reserge fund. Marine insurance account.. Notes in circulation :- Authorised issue against
securities deposited with the Crown Agents for the Colonies.. Additional issue autho- rised by Hongkong Or. dinance No. 19 of 1900, against coin lodged with the Hongkong Government....
Curront accout: >ilver.
C.
$ 10,000,000,00
3,118,153, 0
a. Prema watson famines
74,688,704,18
$151,141.92 | Gold,£2,108,:71. 176.2.- 25,132, 124.77
+.
શ
Fixed deposits: 100.935.40 Silver
44,758,114.56 4,166.85 | Gold,£1,481, 656. 128. kl.=-53,434,925,21 6,265.10!
2,050.00
1,080.75
8,450.77
$151,141.92
C
99.8.0,888.95
By balance of univaled pro-
By amut of not pròfils for the six m uths eading 30th June, 1933, after making provision for bad and doubtful debts, de. luoting all expenses and interest paid and luc...
2,155,210.48
STERL NG RESERVE FUND..
To balance
$10,000,000,00
...$10,000,000.0
By balance 31st Decombor, 1962
(invested in storling securities)
SILVER RESERVE FUNDA
To balance.
By balance 31st C cember, 1962... By transfer from pfit on! los account
85,5,00,000.00
5,500.00 1.00
$6,000,000,0
ROYAL COLONIAL INSTITUTE CONVERSAZIONE.
The anunal function of the Royal Colonial Institute-the thirtieth of the serios--was again held at the Natural History Museum, South 10,000,000,00 10,000,000,00
Kensington, on the 21th June. The great 5,500,000.00 Central Hall and galleries and the Bird Gallery 250,000.00 were thrown open to the large throng of guests present; these numbered fully 2,000 and formed au interesting assembly of members from all parts of the Empiro-Nigeria ust omitted. Sir Frederick Young received the guests and was assisted and supported by, among others. Lord Brassey, Field Marshal Sir Henry Norman, Lord Jersey, General Sir Bevan Edwards, and other members of the Council. Among those present were Admiral Sir N. Bowden Smith, 13,118,158,00 | General Sir Bovan Edwards, General 8 r Henry Groen, Sir James Garrick, Sír Montague Nelson, Sir Montagu Ommanney, Sir C. Clementi Smith, Sir Charles Stirling, General C. W. Robinson, Mr. Fred. Dutton, Mr. Thomas E. Fuller. Mr. S. Vauglian organ, Dr. A. P. Miller, and the Hon. John Tudhope (Councillors), Sic Johu, Indy, and Miss Bramston, Sir Frederic Hodgson (Governor of Barbados) and Lady and Miss Hodgson, Sir David Wilson (late Governor of British Honduras) and Lidy and Miss Kathleou Wilson, Sir T. Fowell Burton, Admiral the Hon. Sir E. R. and Lady Fremantle, Lady aud Miss Norman, Sir John and Lady Cockburn, Sir Horace and Lady $252,746,415.70 Tozer, Sir John, Lady, and Miss Buchanan, Sir Frederick Darley (Lieut-Governor of New South Wales) and Laly and Miss Darley, Sir Lepel Griffiu, Sir Henry and Lady Mance, Lady Maxwell, Lady Hamilton, Laly Scratchley, Lieut. Colonel Sir Curzon and Lady Wyllie, 5,500,000.00 3,974,550.63 Sara Lady Samuel, Sir John Taylor, Lady 2.207.901.65 Knightley of Pawsley, Sir Edward and Lidy 9,900.808.75 Samuel, Lady and Miss Garrick, Lady and the
18,186120 Bills payable (including drafts on Lon- don bankers and short-sight drawings ou London office against bills receiv able and bullion shipments).. Profit and loss account Liability on hills of exchange re-dia- counted, £6,256,836. 128. vd, of which up to this dato £1,471,196 have run off.
PROFIT AND LOSS ACCOUNT, For the year ending 30th June, 1903.
To directors' and auditor's fook
Dr.
To balance
C.
1,100,00 26,961.39
828,461.39
Cr.
$
୯
By balanco from 30th June,
4,182.85
By bad debts recovered
865.41
By interest account
By transfor fees
By balance of working account
ASSETS,
Cast Coin lodged with the Hongkong Go- vernment against note circulation in excess of $10,000,000.
Bullion in hand and in transit. Indian Government rupes paper..... 157.18 Consols, Colonial and other securities
Sterling reserve fund investinents. viz. : 22,582.85 | £250,000 23 per cent. Cou-
33.10
$38,061.39
THE HONGKONG AND SHANGHAI BANKING CORPORATION.
The following is the seventy-sixth report of the court of directors to the ordinary half-yearly general meeting of shareholders to be held at the City Hall on the 15th ist., at noon.
Gentlemen, The directers have now to sub- mit to you a general statement of the affairs of the Bank and balance-sheet for the half-year ending 30th June, 19 3.|||
..$1,300,000,00
1,702,500.00
sols lodged with the Bank of England as a special London reserve, at 0+, £225,000....... £267,500 2) por cent. Con sols, £255,000 21 per cent, national war loan at 90, £470,250 £367,000 other sterling
securities standing in the books at £339,750 Bills discounted, loans and oredits Bills receivable... Bank premises
8,397,5 0,00
98.193,039.80
12,273,673.78 3,590,683.17
$
C.
33.143.734.24
Misses Stirling of Glorat, Major-General Sir George and Lady French, Sir E. Nool and Lady Walker, Sir James Hayes Sadler, Sir Walter Buller, and the fron. "Alfred Dobson. From Hongkong there were Dr.aud Mrs. Clark, Mr. and Mrs. St. John Hancock, and Mr. Ernest Coxon; Lady Fielding Clarke and Mr. Oshort Chadwick, C.M.G., were also present. Excellent selections of instrumental music were rendered- by the string band of the Royal Artillery, under Cavaliere L. Zavertal, in the Central Hall, and -$10,003,000,00
by the string band of the Royal Marines 96,692,382.13 90,55,865 46
(Portsmouth Division), which accompanied the 1,311,14:51 King on his recent tour on the Mediterranean under Lieut. George Miller, in the Bird Gallery. $252,746,415.70
GENERAL PROFIT AND LOSS ACCOUNT. 30th June, 1903
Dr.
The net profits for that period, including $1,435,472.79, : balance brought forward from | To amounts written off :--- last account, after paying all charges, deducting Remuneration to directors interest paid and due, and making provision To dividend account:--- for bad and doubtful|| accounts, amount to £1.10s. per share on 80,00 | s'aros= $3,590, 83.17.
£120 000 st 4/6
* *
The directors recommend the transfer of $500,000 from the profit and loss account to credit of the silver reserve fund, which fund will then stand at $6,000,000
remises Rocount the
They also recommend writing off bank
200,000.
and deducting remuneration to directors, there remains for
After making these
Difference in exchange between 46, the To dividend adjustment account :-
rate at. Which the dividend is declared, and 1/8, the rate of the day.. To transfer tàilver reserve fun 1 To trauefer to bank premises account.... To balance forward to next half-year
€
C.
$ $15,000.00
533,3 13.33
Nothing has been heard of the robb rs who stole goods to the value of 17,000 you froin the Osaka Exhibition, and now another robbery of gold and silver nuggets, valued at 6,000 en, from the Formosa Building, is reported.
The Japan Advertiser i Hutton Potts, of Yokohama accident while in
906,666.67 of the 14th ult. 500,000.00 breaking suddenly, 200,000,00 heavily against the 435,689.17
azza | which hɔ was grossing $3,590,683.17 | arm was badly bruised, the injur
confinement to his bed for a few days.
3
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