114
STERL NG RESERVE FUND.
To balance...
By balance 30th June 1903
$10,000,000.00
10,000,000.00
finvested in sterling securities)'
SILVE. RESERVE FUND.
To balance.
By balane 30th June, 1903 By t ansfer from profit and loss account
THE HONGKONG WEEKLY PRESS AND
HONGKONG ICE CO., LD,
The following is the twenty-third annual report of the above company.
$6,500,000.00
The general managers have pleasure in sub- 6,000,000.00 mitting statement of the company's accounts
for the year 1903.
500,000.00
▸
HUMPHREYS' ESTATE AND FINANCE CO., LD.
he 'ollowing is the report of the directors for the year ending the 31st December, 1903, for presentation to the shareholders at the eighteenth ordinary annual general meeting of the Company, to be held at the registered offices of the Company, 38 and 40. Queen's Road Central, at поод on Wednesday, the 10th February:-
you
The directors now beg to submit to their report and statement of accounts for the year ending 31st December, 19J3.
The net profit for that period amounts
to
To which has to be added the balance
brought forward from last account. 12,117 97
And from this have to be deducted—
emuneration to directors
Including $3,632.06 brought forward from the previous year, and after deducting $2,000 paid as an interim dividen' of 34 per share, the balance at credit of profit and loss account is $100,844.67, which it is recommended should be appropriated at follows:
A final dividend of $12 per share...$ Provision for contingencies To carry forward
*..
60,000.00 35,000 0
5, 44.57
$100,844.57
C'
$96,732.29
The accounts are as follows:
Property account Extension account
ASSETS.
Invested in:
Hongkong Fire Insurance Co.'s share China Fire Insurance o.'s share Canton Insurance Office's share
$103,850.26 | Cash on hand
$ 108,00000
41,750.88
225.00 85.0 120.00 23.61
Hongkong and Shanghai Bank on current
account
5
Hongkong an Shenghai Bank on deposit
Outstanding accounts
on net profits..
$4,836.61
Accounts receivable
Ice in stoo
71,290,08 20,000.00 6,116.40 394.81 180.00
Coal in stock.
4,836.61
Fire in-urance, unexpired premium
9,673,22
$248,736.48
$
per cent, commission
Remuneration to general
ma agers commission on uet profits
Leaving avaiable for appropriation $99,177 04 The directors recommend that a dividend of 90 couts or niue per cent. on the paid-up capital be paid to the shareholders, and the balance of S9 177.04 be carried to new profitand loss account. DIRECTORS.
Hon. C. 8. Sharp having resigned, Mr. A. G. Wood was invited to fill the vacancy and accepted a seat on the Board. In accordance with rule 76 of the articles of association, Messrs. J. S. Van Buren, C. Ewens, H. W. Slade, A. G. Wood, and H Tung retire, bat being eligible offer themselves for re-election.
AUDIORS.
The accounts have been audited by Messrs. W. H. Gaskell and W. Hutton Potts, who offer themselves for re-election.
The accounts are as follows:-
BALANCE-SHEET.
For the year ending 31st December, 1903.
LIABILITIES.
Capital account 100,000 shares at $10
Insurance reserve fund.
Fund for equalisation of dividends
Uuclaimed dividends
Sundry creditors
Profit and loss account ;-
Amount carried forward from
1902
For the year 1903
C.
...1,000,000,00
Capital
Accounts payable
LIABILITIES.
Ammonia reserve account Profit and loss account
[ February 8, 1904.
a very small number of passengers he had to pay for 65. In the event of the number reaching 650 Yang Cai Hoi agreed to pay full compensation. It was a guarantee that he would pay for 650 passengers unless the regulations prevented the hip from carrying 65, in which case there would be a reduction. If there were more than 650 the passage-money was to be fendunt to guarantee 650 was clear. It was reducod. T'he in ention of asking the de-
not intended to oharce: the steamer and take
remuneration according to the number of passengers, for the defendant might have put only a few passengers on board and they might have sent down their steamer for some 8200 or $300. Therefore it was provided that 650 should be guaranteed. As a matter of fact 505 passengers were carried; 31 were got from Hongkong. Acoordin to the Hongkong passage licence the steamer could carry 732 passengers altogether, and according to her emigration licence-that was for a voyage of over seven days-she could carry the full 650. It seemed to him that the case was reduced to this -
-Was it an agreement that the defea·laut should pay for 650 whether they went or not, or was he only to pay for the actual number of those who did go?
Mr. Grist said this was not exactly the position of matters. He did not read this agreement as a oharter-party. It was not a charter to them in auy shape or form; it was purely an agreement that they would send this ship from Huihao 360,00 and that defendant would guarantee 650 160.70
passengers.
C.
His Lordship-What is the difference?
Mr. Grist said that the ship was not handed over to them and th -refore it was not a charter- 125,000.00 party. The agreement was wrongly described 11,765.48 as a charter. He would not take objection on 11,126.43 that point, however. Defendant's coutention 100,844.57 was that he could ha e carried 650 passengers but was prevented from doing so by the action of the plaintiff
$248,736.48
8
C.
PROFIT AND LOSS ACCOUNT. To salaries, wages, and general trade ex-
penses
To general managers' commission To aud.tor's fee
To interim dividend of 16 per cent. paid on To balance
28th July, 19 3...
By balance brought forward from lat yer By receipts for ice and cold storage
By rents received (less Crown rent and
taxes paid)
SUPREME
-
Evidence was then taken,
His Lordship gave judgment for the defen- 41,987.66 dant and costs.
2,000.00
150,00
*
Thursday, 4th February,
IN SUMMARY JURISDICTION,
44,137.66
20,000.00 100,841.57
$161,982.23
BEFORE HIS Honour A. G. WISE (PUISNE JUDG®).
3 632.06 157,289.69
2,393,46
12,00
$164,982.23
A LIBEL ACTION.
T. Elvens, late superintendent of the Dock Company's watchmen, sued Kalla Singh and 1,655.02 seventeen other Indian watchmen for $500 for libel contained in a letter dated November, 1903, and sent by them to Mr. W. Wilson, manager of the Dooks. Hon. H. E. Pillock, K.C., barrister-at-law (instructed by Mr. E. J. Grist of Messrs. Wilkinson & Grist, solicitors), appeared for the plaintiff; and Mr. M. W. Slade, barrister-at-law (instructed by Mr. P. W. Gol ring of Mr J. Hastings, solicitor), for the defendants.
CURT.
Monday, 1st February.
By interest
200,607.31
By transfer fees...
50,000.00
2 248.30 224,681.73
X C. 12,117.97 96,7 2.29
108,850.26
$1,586, 87 60
ASSETS.
C.
969,996.96
Amount invested on mortgage
445,040.65
Accounts receivable
169,8-8,30
Fire insurance premia unexpired
Uffice furniture
Cash in hand
Amount invested in property.
959.75 $500.00 51.94
$1,586,887.60
PROFIT AND LOSS ACCOUNT.
31st Dec., 19 3.
Dr.
To general charges
To Crown rent
To fire insurance
To repairs
To allowance to general managers to cover
office rent and salaries of secretary and clerks
To balance...
1st Jan., 1903.
Cr.
By amount carried forward for 1902
31st Dec., 19.3.
By rents
by interest
By commission
By transfer fees
By profit on sales of properties
C.
$ 2,964.43
IN SUMMARY JURISDICTION.
BEFORE HIS HONOUR A. G. WISE
(PUISNE JUDGE).
DISPUTE ABOUT THE CHARTER OF A STEAMER,
i Shek Pang. 115, Wing ok Street, sued Yung Chi Hoi, 9, Queen's Road Central and l'un Tse Yan, 90, Connaught Road, for $1059.22 r. stricted to $1000, plaintiff claiming this sum from Yung Chi Hoi as charterer under and from Pun Tse Yan as guarantor of the charter 27 3.11 party dated 12th June, 1903, being the balance of money due for the charter of the s.8, Emma Luyken from the plaintiff. Mr. H. W. Looker, of Messrs. Deacon, Looker and Deacon, solicitors, appeared for the plaintiff. and Mr. E. J. Grist, of Alesars. Wilkinson and Grist, solicitors, for the defendants.
5,046.4 1.868.60
•
4,000,00 108,850.26
$125,462.44
0.
12,117.97
67 21 .22
Mr. Lookers id the plaintiff was an owner or charterer of steamers. He chartered them to various people for various purposes; amongst others he made a charter of the steamer Emma Luyken to the defendant Yung Chi Hoi 28,967.34 to carry passeng rs from Hoihao to Singapore, 295.93 They entered into a charter-party on which he 274.00 Was suing. It was an agreement by 17,8.93 which this steamer was to be hired or chartered $125,462.44
or taken by the defendant, who had to guarantee 650 passengers at least; suppose be carried only
|
In his statement of claim it was stated that plaintiff was until his suspension from duty employed in the Hongkong and Whampoa Dook Company at Hunghom as superintendeut of watchmen and resided there. Defendants were watchmen in the same Company, and it was plaintiff's duty to look after them and see that they did their work properly and efficiently and to report any breach of duty on their part to Mr. W. Wilson, the manager. Plaintiff had suffered damages by the def-ndauts falsely and maliciously writing and publishing of and concerning plaintiff a letter sent to Mr. Wilson dated 25th November, 1903. The letter was as follows:-" Sir, -We Indian watchmen staff of the Dock hereby report to you that until we are better and fairly treated by head watchman, Mr. Elvins, we will all resign from the Company's employment. Mr. Elvins is nothing but a downright rascal and rogue. How is it that he a low those Portuguese watchmen of his at gate, smoke, sit down, and sleep while on duty without reporting the matter to you or even find them one cent, but if it was any of us Indian found doing so he would get as discharged or find $2 or $3 which we know very well you don't hear of it but all the same be find us and pocket the money. He has always been getting money from as ever since he joined the Company again, but since
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