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224
THE HONGKONG WEEKLY PRESS AND
The following is the report for presentation to the shareholders at the twenty-sixth annual general meeting, to be held at the offices of the general agents on Thursday, the 24th inst:-
assailed have been made. So far, however, | CHINA SUGAR REFINING CO., LD these appeals and all representations from Downing Street to 8. Petersburg consequent thereon have been unproductive of result. Now that hostilities have broken out between Russia and Japan, the question appears likely to be settled in the meantime by the retirement of the Russian troops in occupation of the port, but it is to be hoped that in any future negotiations Great Britain and other Treaty Powers will rigidly insist upon New- chwang being restored to it original position as a Chinese treaty port, and left in the undisturbed control of Peking.
OMISSIONS FROM THE U.S. TREATY
WITH CHINA.
A letter having been addressed to the Foreign Office-n which this branch concurred -pointing out certain omissions in the Com- mercial Treaty between the United States and China with regard to the allocation of the surtax to the Provincial Chinese Governments to compensate for the loss of lekin which is arranged for in the British Treaty, and the absence of any agreement about the excise to be levied on machine-made yarn, cloth, or other products of foreign type in China, a reply has been received pointing out that the fact that th- United States Government have not stipulated for all the conditions attached to those engage- ments by Great Britain need not necessarily be taken as indicating that they attribute no importance to the points referred to by the
association.
ME, CHAM ERLAIN'S SCHEME FOR TARIFF REFORM.
was
In January of this year, in response to suggestions, the committee considered the ad- visability of despatching a telegram expressing approval of and sympathy with the Right Hon. Joseph Chamberlain in his efforts to promote reform in the fiscal policy of the United Kingdom, and obtained the views of the members by circular. The proposal was endor- sed by nearly all the members, only two voting
The following telegram against it. accordingly despitched on the 13th January
Large majority members Hongkong Branch Chins Association warmly support your fiscal aims. Consider reciprocal treaties absolutely necessary, failing which recom- mend
retaliation." adoption
A letter confirming the telegram was mailed on the 14th January, and copies of same were forwarded to the London branch of the association and to the Colonial Secretary, for the information of the Governor of Hongkong. A letter has been received from Mr. Chamberlain's private secre- tary acknowledging receipt of the telegram.
THE CHAIRMANSHIP.
On the departure, in February, 1904, of Mr. Playfair to England, Mr. H. E. Pollock, K.C., who had accepted seat on the committee, was elected acting chairman, but after holding office for about a month Mr. Pollock resigned, on the ground that the performance of the duties clashed with his professional interests. Mr. R. C. Wilcox thereupon took up the reins and acted as chairman until Mr. Playfair's return; and when soon afterwards that gentleman was obliged, through an affection of the eyes, to resign the post, Mr. Wilcox was unanimously elected chairman.
THE COMMITTEE
The general agents beg to submit to share- holders their report on the company's business for the year 1903, with a statement of accounts to 31st December last,
AUDITOR.
[March 21, 1904.
The accounts have been audited by Mr. Thomas Arnold, who offers himself for re- election.
JARDINE, MATHESON & CO.,
General Agents.
Hongkong, 4th March, 1904.
CAPITAL ACCOUNT.
LIABILITIES.
Capital account
३
700,000.00 Jardine, Matheson & Co.'s current account 29,787.08
Sundry creditors
There was a steady demand for refined sugar in consuming markets throughout the year, and Hongkong & Shanghai Banking Corporation 10,065.29 the sum at debit on 1st January, 1903, has been reduced from $438,232.99 to $147,717.30 or a gain on working of $290,515.69.
CONSULTING COMMITTEE.
Mr. D. M. Moses resigned his seat on his departure from the colony, and Mr. E. Shellim was invited to join the board in his place. The committee now consists of Sir Paul Chater, C.M.G., Messrs. R. C. Wilcox, A. G. Wood, and E. Shellim, who offer themselves for re-election.
A DITORS.
Proper y account..
Cash.. Coal, charcoal, stores, &c. Fire insurance account, 1904
Profit and loss account
689.99
$740,536,80
ASSETS.
$ c. 629,642.49 289.01 35,258.08
1,440.00
$666,630,42
73,965.88
$740,536.3 1
PROFIT AND LOSS ACCOUNT.
To balance from last year
8 0.
63,363,31
To salaries, wages, fire insurance, &c. To interest
9,563,09
1,929.48
To auditor's fee
50,00
$73,905.88
2,000,000.00
$73,905.88
LD.
The accounts have been audited by Messrs. Thomas Arnold and W. Hutton Potts, who offer themselves for re-election.
JARDINE, MATHESON & Co.,
General Agents
Hongkong, 4th March, 1904.
CAPITAL AND LIABILITIES.
Paid-up capital Sundry creditors
ASSETS.
Property account, consisting of-
East Point refinery Bowrington refinery Swatow refinery Hong ong distillery Cash
Raw and refined sugar. Charcoal, coal, stores, &c. Spirits and rum, &c.... Sundry debtors Shipments
Less advances
Balance of profit and oss account
i
1,883,589.18 By balance
$$,883,589.18
C.
5 12,262.05
CHINA-BORNEO CO.,
The following is the report for presentation to the shareholders at the first ordinary yearly meeting to be held at the office of the Com- pany, at noon, on the 19th March :-
833.18
Gentlemen, The General Manager and ,205,105,62
5,533.51 Consulting Committee beg to present to the 271,126.06 shareholders the first ordinary yearly report of 284,175.47
the Company.
From this has to be deducted;
Fees to Consulting Committee...
.$692,332.20 266,496.14
The accounts show a profit of
$50,093.64
425,838.06
$3,745 871.88 147,717.30
$3,883,589.18
4,000,00
Leaving available for appropriation . $46,093 64 The Consulting Committee recom-
mend that a dividend of 5 per cent.
on the paid-up capital be paid. to shareholders
$ 438 232.99
27,600.00
To write off launches and lighters
4,000.00
"
31
timber concessions .. preliminary expenses
4,502.04
9,991.60
$46,093.64
PROFIT AND LOSS ACCOUNT. To balance of profit and loss account brought
forward from last year......
To commission
To remuneration to consulting committee To auditors' fees To interest
By gain on working By balance.
PROPERTY' ACCOUNT. To balance at debit on 31st December,
1803 To new buildings and machinery.
By balance at date
25,084.41
2,500,00 750,00 33,859.40
$500,426,80
C.
CONSULTING COMMITTEE.
On the formation of the Company, the Honourable Sir Paul Chater. Kt., C.M.G., Messrs. A. G. Wood, E. Osborne and J. Wheeley consented to form the Committee, and $50,426.80❘ their appointment requir· s confirmation.
352,709.50 147,717.30
C.
.1,539,194.35 3,067.70
$1,512,262.05
AUDITOR.
The accounts under review have been audited by Mr. W. H. Potts; his appointment also re- quires confirmation.
محمد
J. WHEELBY,
General Manager.
Hongkong, 8th March, 1904.
C.
.1,512,262.05
LIABILITIES,
0.
Capital
60,000 shares each $12 Leas 14,
each $12
shares unissued
-$720,000.00
168,000,00
552,000.00
The following is the report for presentation to the shareholders at the twenty second annual general meeting, to be held at the offices of the general agents, on Thursday, the 24th inst, :
There have been several changes in the personnel of the Committee during the period LUZON SUGAR REFINING CO. LD. under review. Mr. Poate, who has left the Colony, has been replaced by Mr. D. R. Law; the Hon. C. 8. Sharp by Mr. A. G. Wood; Mr. Medhurst, who has gone home for a trip, has been succeeded by Mr. E. S. Whealler; and the The Hon. R. Shewan by Mr. W. Saunders. Committee now consists of Messrs R. C. Wilcox (Chairman), D. K Law, G. W. F. Playfair, W. J. Saunders, H. E. Tomkins, E. S. Whealler, A. G. Wood, and C. Pemberton (Hon. Secretary).
The Accounts, The Hon. Secretary's accounts show a credit balance in hand of $1,173.21.
R. CHATTERTON WILCOX, Chairman.
The N.-C. Daily News Tokyo correspondent says that at the Japanese General Election, the so-called Neutral Party has made a considerable increase, at the expense of the Seiyukai. The Government has remained indifferent, but the result is decidedly favourable.
---
l'he general agents beg to submit a state- ment of accounts for the year to the 31st December last.
it remained silent during the whole of the year There being no outlet for the refinery's sugars,
under review, and the general agents regrat that there is no prospect at present of resuming work. Meanwhile current expenses are being kept as low as possible, consistent with proper care of the machinery and buildings.
Inclusive of $62,363.31 brought forward from the year 1902, the balance at debit is $73,905.88, which is carried forward to next account.
CONSULTING COMMITTEE,
This consists of Mr. J. H, Lewis and Mr. A. J. Wood, who offer themselves for re-election.
Sundry creditors Balance of working account.
Goodwill. Hongkong saw-milla Sandakan saw-mills
Talaga saw-mills
Plant
Steam launches and lighters Sandakan engine works. House and office property. House and office furniture. Kudat pier
9,141.46 50,093.64
$611,235.1.
ASSETS.
$ 75,000.00
✪
75,000,00
40,000.00
47,072,59
21,827.12
91,242.76
18,405.54
6,747.32.
1,994.27
8,000,00
Sandak in slipway, cost of construction to
date
5,628.79
Timber concessions.
24,730.02
Bundry debtors......................
4,579.88.
Preliminary expenses....
9,991.69,
Stock of rough and sawn timber, stores,
material, o......
........ 91,707.04
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