Page
January 11, 1904.]
CANTON-HONGKONG ICE AND -COLD STORAGE CO., LD.
STATUTORY MEETING.
CHINA OVERLAND TRADE REPORT.
few days in relation to matters that bad already been discussed by the executive committee that morning.
He took it that the financial year commenced from that day; that was to say, shares were running on interest from that day.
BALANCE SHEET.
LIABILITIES.
Capital 200,000 shares at $10 $2,000,000.00
Less 100,000 shares un-
issued
Reserve fund
1,000,000.00
--------------1,000,000,00
Debentures at 6 per cent, outstanding..
Sundry creditors
Due to general managers. Hongkong and S'hai Banking Corporation Balance of profit and loss
46,000:00 10,200.00
4,544.00
1,926.90
50,040.18
90,171.98
$1,202,883.06
Mr. WATKINS said he would like to have it made quite clear whether according to the articles of association subsequent general meet- The statutory meeting of the Canton-Hong-ings would be held 12 months from that day. kong Ice and Cold Storage Co., Ld., was held on the 7th inst. in the offices of the Company, Wat- kins Buildings, Hongkong. Mr. Russell Colegrove (president), U.S. Vice-Consulat Canton, presided, and there were also present Messrs. Chan A Fook (vice-president) Geo. A. Watkins, Tseng Yut Kai, Lai Tai Yu (directors), Chan A Tak
Mr. D'ALMADA, on being consulted on this (secretary), F. X. d'Almada e Castro (solicitor point, said the next annual meeting should be
On mortgages, shares, &c... 461,178.57 the Company), C. Mooney, H. Colin held on 9th September, the date of the formation McCreary and H. G. MoKilligin.
of the company.
to
The SECRETARY read the notice calling the meeting.
Mr. MOONEY thought that the financial year commenced from the date of the incep tion of the Company.
There were no other questions.
Mr. COLIN MCCREARY proposed a hearty vote of thanks to the President for the manner in which he had carried out his arduous duties (Applause.)
The PRESIDENT said-Gentlemen,-I have much pleasure in stating to you that after a few months' existence the company is in a most satisfactory condition. As is usual with all
The PRESIDENT remarked that he had had new enterprises, we have encountered many
very great pleasure in carrying out the duties obstacles that wers unexpected, yet most of the
that had fallen upon him. They had entered into difficulties have been overcome, and notwith-
this business with the idea of inaking it a standing the depression in financial circles, and
success, and he was not only encouraged but the scarcity of money in South China, the
was confident that it would be the entire majority of our shares have already been
success that they had prophesied at the subscribed. Payments, while slow, have
beginning. They had had more applications come in as required, and
по subscriber for ice and cold storage and so on în Canton has failed to respond when called upon. Ten
than they could possibly supply. Their arrange- thonsand shares ($100,000) were sent to Shang-ments with the Viceroy and the authorities hai, the purchaser asking for sixty days' tine, in Kwangtung were most agreeable, and he which was granted. Later the same party asked did not think any of the shareholders so far had for an option on ten thousand additional shares had any reason to regret their purchase. If at par, which was refused, as it was not considered they had he would be very pleased to take up wise to dispose of so large an amount at par.
their shares personally. They hoped at next For the land purchased in Hongkong (Quarry meeting they would have the pleasure of Bay) $40,000 was paid and the deeds are before you. declaring their first dividend, and a substantial I might add in connection with this property dividend, if any. (Applause) that the Company have an offer of $45,000 for the land, which of course has been declined. At Canton, we have secured one of the most valuable pieces of property on the water-front. The sum of Tis. 20,000 was the agreed price to be paid for this site, on which are located three shops of three stories each. The rent of these shops will bring an income of some Tis. 600 per annum, and by reclaiming about 150 feet (which I have obtained permission to do) we not only have sufficient space for our factory, but will have doubled the value of our property We have also obtained permits to construct a necessary wharf along the front of our land,
This was all the public business.
CHINA PROVIDENT LOAN, AND
MORTGAGE CO., LD.`'
The following is the report for presentation to the shareholders at the seventh ordinary general meeting to be held at the office of the general managers, on Saturday, (hel6th January
at 11 a.m.-—.
Annexed we have the pleasure to lay before
to 31st December, 1903.
|
ASSETS.
Loans on provident system $7:2,022.18
Furniture, as por last statement... $650,00
Less depreciation Sundry debtors Cash
$ Q.
-1,193,198.75
150.00
500.00 8,108.61 1,075.70
$1,202,893.06
SUPREME COURT
Monday, 4th January.
IN APPELLATE JURISDICTION.
BEFORE THeir Honours Sir WilLIAM M. GOODMAN (CHIEF JUSTICE), AND A. G. WISE (PUISNE JUDGE).
LAND COURT APPEAL CASES.
A case was cailed in which the Attorney-Gen- eral, as representing the Crown, appealed against a decision of the Land Court in allowing Ho Lap Puu's claim to 125 acres of foreshore near Lyeemoon. The Attorney-General, Hon. Sir Henry S. Berkeley, and Mr. E. H. Sharp, K.C., barrister-at-law, appeared for the Crown (instructed by Mr. F. B. L. Bowley, Crown Solicitor).
Before the opening of the case,
The Attorney-General said-I have great pleasure in wishing your Lordships a happy New Year.
The Chief Justice—The Court reciprocate it, and wish the Bar the same.
Mr. Sharp, K.C., said this appeal was from a judgment pronounced by the Land Court in December, 1901, allowing the respondent's
which is a most important feature, and will be shareholders a statement of accounts made up claim to the absolute ownership of a large tract
an immediate source of revenue. On this Can- ton property, a part of the purchase money was paid at the time the transaction, and the balance is in hand, and will be paid over as quickly as the former owner, who has been ill for some time, is able to transact business. We are now in Lossession of the property. One-half of the purchase price of the machinery for both plants has been paid in New York. The balance is due when the machines arrive in Hongkong. The machinery has been built, and will be shipped upon the arrival of the contractors from New York city, who are ex- pected here on February 1st. As this machinery is all ready to be set up, it will require but little time to be put into operation after arrival. The general outlook is most encouraging, and we have every reason to expect the Company to be the success claimed. (Applause.)
Mr. CHAN A FOOK having interpreted the President's speech for the benefit of the Chinese shareholders,
The PRESIDENT asked if there were any questions.
Mr. LAI TAI Yu asked if the Viceroy's fran- chise had been obtained,
The PRESIDENT said that had been granted to Consul-General MoWade on the previous day! The franchise from the Viceroy covered the franchise so far as the Chinese people were concerned. In view of the fact that the Viceroy had been sick and had refused himself to everyone, his secretary had requested them to leave that matter silent for the moment. The proposition was that, in the event of plague or sickness in Canton or Kwangtang province the total output of the Company's fresh water would be given free to the Chinese people. All the officials in Canton had been extremély kind so far, and the concern was recognised as a public necessity. He added that there would be a special meeting in a very
The gross earnings for the past year amount to $118,538.10 and after deducting all expenses, remuneration to general managers, consulting committee's and auditors fees, there remains a balance of $90,171.98, which it is recommended be appropriated as follows, viz :----
To place to reserve fund ...$ 9,000.00 80,000,00 To pay a dividend of 5 per cent To carry forward to the c redit of
1,171.98 next year's account... Consulting Committee.-In accordance with the articles of association, Messrs. J. S. Van Buren, Chow Hing Kee, Chau Tung Shang, and J. H. Lewis retire, but offer themselves for
re-election.
Auditors.-The accounts have been audited by Messrs. A. O'D. Gourdin and W. H. Potts, who are recommended for re-election.
SHEWAN TOMES & CO.
General Managers. Hongkong, 5th January, 1904.
+
The accounts are as follows :-
PROFIT AND LOSS ACCOUNT,
For the year 1903. Charges Consulting committee fees Auditors' fees Depreciation on office furniture, 1903
Balance
Balance
Interest received on mortgages,
loans, &c...
Less interest paid, commission,
&o., &c.
Unclaimed dividends written off.
C.
118,538.10
16,429.36
C.
7,859.18 4,000.00 200.00
of seashore alleged by him to have been acquired under a grant from the Chinese Government 10 years before-in 1891. As their Lordships would recall, the Kowloon extension agreement under which we acquired the New Territory provided among other things that there should be no expropriation of the inhabitants. Pursuant to that provision the Land Court was established to enquire into the rights of the inhabitants at the date of the cession, and Section 15 of the Land Court Ordinance provided that all land in the New Territory shall be the property of the Crown. Therefore, as between the Crown and the respondent Ho Lap Pun, the Crown was olearly entitled to all rights in this land which Ho Lap Pan did not move that he was entitled to himself.
The Chief Justice The Clown practically steps into the shoes of the Chinese Government. The only modifications are those created by the statute.
Mr. Sharp said that was so. The question before the Land Court was, what were Ho Lap Pan's rights at the date of the cession. The history of this case was this. On 27th Novem- ber, 1891, the San On magistrate granted to the claimant certain rights for a vague trot of seashore at Matankok. The Crown said these 150.00 rights amounted to a mere fishing licence. No 90,171.98 area was specified in the grant or in any of the documents bearing the same date. A yearly $102,381.16 | rent of $5 was to be paid for this fishing licence, and appeared to have been paid up to the date of the cession. In November, 1901, Ho Lap Pun, on the strength of this licence, claimed mow, the absolute ownership of 600 odd over 125 acres, extending along more than two miles of foreshore in the neighbourhood of Lyeemoon, and this claim was allowed by the Land Court. Subsequently to the allowance $102,891,16 | of the claim by the Land Court the Government decided under Section 14 of the Land Court
O.
$
22.02
102,106.74 250.40
No comments yet.
Private notes are available after approval.