488
PROFIT AND LOSS ACCOUNT.
Dr.
To interest.
To are insurance
To rates and taxes.
To repairs and renewals
To directors' fees
To auditor's fee
To General Managers' commission on net profits 10 per cent. on Tls. 1,321.9:
tr.
By balance fṛ m last year
By balance of working account... By transfer fees
THE HONGKONG WEEKLY PRESS AND
comparatively new, having just completed its Tla. third of working, and is reported to be in
year 38,18,60
good condition, Working expenditure shows 16,181.78
Bome increase as compared with last year. It is 7,5.39 10,245.28 expected that during the present sea on some economies may be effected, under the heading of repairs and renewals, which include this year the cost of a new boiler to replace one thrown out, and in manufacturing expenses Regarding the division of the balance in Profit and Loss account, the Directors regret that they are un- able to recommend a larger dividend then 5 per
3,000,00 250.00
132.19
12,844 76
Ils. 83,076.90
By excess provision in last year's account for legal expenses, etc., in connection with reduction in capital
Tls. 11,655.03 71,137.30 66.14
cent.
In conclusion, the Chairman said that he was willing to answer any questions that any share- holder might choose to ask.
Mr. A. E. Jones asked if any idea could be 218 43 given of the amount of rubber that the trees
would produce:
Tla. 83,076,90
THE PERAK SUGAR CULTIVA- TION CO., LD.
We are indebted for the following report to tho N.-C. Daily News.The nineteenth annual general meeting of the shareholders in this Company was held at Shanghai on Decr. 19th. There were present: Messrs. W. D. Little (Chairman), F. Anderson, A. 8. P. White- Cooper, and J. H. McMichael, Directors; Leonard Kerr, Secretary; J. M. Young, A. E. Jones, R. H. Gore-Booth, and G. T. Veitch, representing in all 1,345 shares.
The Secretary having read the notice con- vening the meeting,
The Chairman said-The report, which has been in the shareholders' hands for about a fortnight, deals very fully and in detail with the operations of the Company during the past season. I propose that the report should be taken a read. The results of the year's working have been disappoint- ing, owing mainly to the shortness in the supply of labour. It is some satisfaction to know that, in this important matter of estate
some
equipment, the manager's difficulties have been overcome. The labour supply is now ample. One effect of insufficient labour during last season is that the new crop is smaller in 'area than that just completed; it is hoped, however, that the shortage in area will be balanced by a higher rate of production per orlong. A favourable feature in te report, to which I draw attention, is the great increase in the pro- portion which No. 1 sugar bears to the whole output. It may be remembered that only a few years ago the proportion of No. 1 sugar barely exceeded 75 per cent; this year it is practically 95 per cent, and it is hoped that during this present season the proportion will be still further incr ased, with prospect of the No. 2 grade being entirely eliminated. The Directors have received a long and interesting report from Sir Charles Dudgeon, who made a very thorough inspection of all departments, and you will be glad to know that he was very well satisfied with all he saw. Referring to the rubber plantation, Sir Charles reports that this is now an imposing grove of trees, between 30 to 40 feet high, covering an area of about 160 acres. The trees, Le says, are looking excellent and the manager hopes to start tapping a few next April; in the following year there should be about 6,000 ready for tapp ng, and in 1907, 15 to 16 usand. This venture, which may have an important bearing on the future of the Company, is in the experimental stage so far as the Malay Straits are concerned; it has, however, cost very little. At Klompong the area under cane for the new crop is still a long way short of the capacity of the plant; progress in this respect having been retarded by the labour question. I hope that this sea- son a considerably larger area may be brought under cane, and with the improved condition of the market for basket sugar, this estate should contribute, as it has not hitherto done, to the Company's profits. Passing on to the accounts, the Company's assets are practically the same as they were this time last year. Mention has been made before, and it may be well to remind you, that owing to the careful writing down in the past of the book value of the Gula machinery, this now stands amongst the Com- pany's assets at little more than one-fourth of its actual value. The Klompong plant is
|
The Chairman replied that each tree should produce half-a-pound of-rubber at the end of the first year and from two to three pounds at the end of ten years.
1,
Mr. Jones asked for some information as to the price of rubber.
at
The Chairman said that rubber was present quoted at about five shillings per pound. The Company had used for this experiment what was simply waste ground and their only expense was labour and the cost of seed; therefore. if the venture turned out a failure,
there would be little expense.
The Chairman proposed, Mr. J. H. McMichael seconded, and it was carried unanimously: Ihat the report and accounts as presented be accepted and passed
11
Mr. J. H. McMicha 1 proposed, Mr. F. Anderson seconded, and it was carried unani- mously:
"That a dividend of five per cent, equal to Tls. 2 per share, shall be declared for the season ending the 31st December, 1904."-
Mr. J. M. Young proposed, Mr. G. T. Veitch seconded, and it was carried unanimously: That Mr. F. Anderson be re-elected a director
of the Company."
Mr. A. E. Jones proposed, Mr. R. H. Gore- Booth seconded, and it was carried unanimously
"That Mr. G. R. Wingrove be re-elected auditor and that his remuneration be fixed at Tls. 250 per annum
The Chairman proposed, Mr. A. S. P. White Cooper seconded, and it was carried unanimously: "That the next annual general meeting of shareholders of the Company shall be held during the month of December, 1905."
This conclude the business of the meeting.
DISTRESSED SAILORS AT
HONGKONG.
went to
Twelve sailors belonging to the wrecked s.s. Workfield arrived here from Swatov by the s.s Haitun, and seventeen arrived by the 8.8. Hang Sang. When a Daily Press representative see them at the Sailors' Home on the 29th inst. Capt. Broadhead, the skipper of the wreck, was paying off his crew in the ship. ping office. Some of the men were unshaven, and said that the only, clothes they lad saved were those they wore. Taking them as a body they were an unruly looking crowd, an some of them spoke to the captain in such an insolent manner that the Shipping Master sent for the police. The captain refused to give the Daily Press any information, saying I have to tell the Board of Trade first. Our reporter inter- viewed the sailors; the facts, as he gathered them, are are as follows
The Workfield was on a voyage to Hongkong The for orders with a cargo of Welsh coal. versel came out via the l'ape of Good Hope, thus avoid ng Suez Canal dus. In ne course she a rived off the China coast, and is supposed to have struck a rock fou · miles to the n rth and east of Turtle Rock, which is situated off Kup- chi Point.
The chart shows no rock in this
position. A sailor described the occurrence thus -We struck at three o'clook on Christmas Eve, and then kept right on. For the first hour or so the ship did not show much signs of making water, but afterwards she started filling up very quickly in No. 2 hold. The water was gaining 80 rapidly, causing the vessel to go down by the head, that we raised the water-tight doors just enough for the bilge-injection to get a supply, so as to be able to make full use of the pumps. The ship, nevertheless, gained water steadily,
[December 31, 1904.
till the engine room started filling up, putting out the fires and making things dangerous [It is reported that the firemen refused to stay in the engine room under the conditions]. We aband. ned the ship, taking to the life-boats, at between two and three o'clock on Christmas morning
the
When we shoved off the bow was
deep in the water and the stern sticking up; she was fast filling. We remained in the boats till daylight, when the vessel sank [The vessel is supposed to have sank in from sixteen to seventeen fathoms of water. Good Hope Cape bearing north-west, distant fifteen miles]. We then turned towards the shore, beaching the surf. boats by pulling through When we landed na'ives gathered around, and seemed to regard us as if we were some curious wild animals. The rascals managed to steal the few rags of clothes that some of us had saved. The light-house keeper from Good Hope Cape - then came over the hills, took us to his place and treated us well. He had no beds for us, but he did everything in his power to make us comfortable. He managed to signal the N.D.L. 8.8. Samson. She s'oppd and took us on board. That was at about 7 a in. on the 26th. We arrived at Swatow on Tuesday, and were afterwards brought on to Honkong by other steamers. No lives were lost
The Workfield hid between five and six Her owner tou-and tons of coal en board. was W. R. Rea, of Belfast, and she was a steel vessel of 2,769 tons, built in 1901. The officers are as follows:-F. Shields, obief. engineer; J. H. Rogers, second engineer; H. Baillie, third engineer; M. Hull, fourth ́ engineer; J. G Crone, first mate; S. J. Connolly, second mate; and J. Hopkins, third
mata.
HONGKONG.
During the Christmas festivities an inebriated Jack Tar was taken to No. 7 Police Station,
where he accosted the Inspector on duty. "Say No," replied boss, is this the Sailors' Home?" the Inspector, "but it has been the home of many a sailor.".
Seventeen subscription griffins arrived from Shanghai by the s.s. Hang Sang. They were drawn for at Kennedy's Stables: Mr. Mac- donald, two; Mr. Houston, two; Hon. Mr. W. J. Gresson, two Mr. Potts, two; Messrs Owen, Babington, Poer, Forrest, J. A. Jupp, Cruick- shank, Chater and Mody, one each.
On Dec. 29th night there was an unusually brilliant assemblage at the City Hall, on the occasion of the Amateur Dramatic Club's annual fancy dress ball. Adequate and entirely satisfactory arrangements had been made by Mr. Secretary Mitchell. The floor was in fine order, the music fair, and. nearly three hundred dancers thoroughly enjoyed the event. There were many capital costumes.
Four time-expired employees. at the Naval Yard, Messrs. Gray, Hedge, Varcoe and Bull, received presentations the other evening from Mr. Gray-au their Naval Yard colleagues. inspector of fitters-and Mr. He 'ge--a store- house-man-left for Home by the C.P.R. mail steamer yesterday. Mr. Varcoe-a boilermaker -and Mr. Bull a founder-leave for bome on Saturday.
A Crown Lands sale was held at the Public Works Department Dec. 28, when Marine Lot No. 289, after ken competition, was knocked down to Messrs Yeung Tai Ngan and Fung Chun Yuen for $128,200, beʻng $14,506 above the upset price R B. Lot No. 119, at Deep Water Bay, was sold to the Green Island Cement Company for $806, being 820 above the upset price
4
Thee Fr. P. de Maria, pro-vicar-Apostolic in Hongkong, received a telegram from Milan on December 28th stating that the Right Reverend Luiz M. Piazzoli, R. C. Bishop of Hongkong, dead. Morsignor Piazzoli” was medically advised to proc ed to Europe some mon'hs ago He has had a very brilliant career. studied born in Italy in 1845; He was at Milan; and came to the Far East in 1869. After spending twenty-two years in the interior of China he came to Hongkong in 1892; and was made Bishop of Hongkong in 1895. He was both respected and popular. 'A Requiem Mass will be celebrated this mornin; and there will be a special service on the third day
餅
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