1
February 11, 1905.]
Current sccounts :-
Silver...
.$70,956,899.34 Gold,£3,682,716.10.7.= 39,104,287.84
Fixed deposita
Silver
$48,580,443.56 Gold,£5,132,493.16.0.— 55,827,919.12
Bills payable (including drafts on London bankers call loana and short sight drawings on London office against bills receivable and bullion shipments).......
Profit and loss account Liability on bills of exchange redis- counted, £4:191, 571 88, 10a, of which £3,111,482 08. Od. have since run off,
110,061,186.18
CHINA OVERLAND TRADE REPORT.
$106,160.88 at credit of profit and loss account. From this amount the directors recommend that a dividend of one dollar per share or $80,000 be paid to shareholders, leaving a balance of $26,160.88 to be carried forward to new account. The adverse conditions of the trade mention- 103,888,362.68 ed in the last report have continued during the six months under review and there is nothing of special interest in connection with the work- ing of the steamers to comment upou.
12.426.024.02
4,745,544.05
0.
$274,793,709.93
ASSETS.
Cash
37,472,737.62
Coin lodged with the Hongkong Go- vernment against note: circulation
8,500,000.00
Bullion in hand and in transit
5,731,680.95
2,035,153.16
9,214,976.98
in excess of $10,000,‹.00...
Indian Government rupee paper....... Consols, Colonial and other securities
Sterling reserve fund investmente, viz, :—-- £570.000 2† | er cent Consols
at $5
(of which £250,000 lodged with the Bank of Eng- land as a special Lon- don reservO.)
£255,000 24 per cent Nat- fon 1 war loan, at 99...
£325 00 Other sterling securities, written down
to
£ 484,500
229,500
286,000
£ 1,000,000 10,000,000.00
Bills discounted, loans and credits
Bills receivable
Bank premises
85,601,394.98 115,009,136.41
GENERAL PROFIT AND LOSS ACCOUNl.
Mr. H. E. Tomkins resigned his seat at the Board in consequence of his intended departure from the Colony, and Mr. F. Salinger was nominated by the directors to all the vacancy subject to confirmation by the shareholders at this meeting.
The retiring auditors, Messrs. A. O.'D. | Gourdiu and W. H. Potts offer themselves for re-election.
W. J, GRE380N,
Chairman.
ASSETS.
C.
The accounts are as follows:- 31st Dec., 1904. Value of steamers Honam, Po- wan, Heungshan, Lung. shan,, ths of Fatshan and Kinshan, and frd of Sai- nam, Nanning, Tak Hing, Lintan and Sanui, as per last account
941,500.00 Final payment account Sanui 1,300.00
Value of lighters Sun Lee and Woo Lee Value of wharves, hulks, and moorings. Value of properties at Canton, Wachow Value of spare gear
and Kongkun
Value of furniture..
Value of shares in public companies Value of Chinese bonds Loans on mortgage
750.00
|
|
97
The working account for 1904 shows a oredi balance of Tls: 367,875.25 compared with Tls, 362,189.28 for the previous year,
156,000.00
The amount at credit of profit and loss account. after deducting the interim dividend of 6 per cent. is Tls. 331,734.95, which the directors recommend for appropriation as follows :- To pay a final dividend of 6 per cent. on the capital (making 12 per cent. for the year) To pay a bonus of Tls. 2 per share... 104,000.00 To transfer to reserve fund (being
interest on undeveloped estates)... 28,813.05 To transfer to reserve fund for equalisation of dividends (making it up to Tls. 170,000) To carry forward to new account 40,066.66 There is little to my with regard to the Company's properties, except that they are all well let and that they have been kept in the usual good repair. The differences in the figure of the Capital Accounts are chiefly accounted for by the int rest on undeveloped properties, with the following exceptions :--
2,855.24
Chwong Hoong Estate No. 2.-The increase in this Estate's Capital Account is due to the completion of payment for the buildings alluded to in last year's Report.
1
Jinkee Estate No. 6.A portion of this Estate was sold, as mentioned in last Report, and was paid for in June, 1904.
942,800,00 8,500.00 81,550.00 Hongkow Creek Estate No. 8.-The bunding of this Estate has been almost completed and 137,846.77 roads have been laid out by arrangement with 15,930.61 the Municipal Council. As soon as these roads and the bridging are completed, it is pro- 653,710.00
1,034,48 posed to begin building on a small scale. There 544,000.00 has been more delay than was expected in mak- 2,360.25 ing the above arrangements and consequently 11,136.63 it has been impossible to commence, building as
soon as it was boped to do so.
$2,399,663.74
1,228,629.80
Interest accrued
$274,794,709,03
Sundry debtors
Dr.
31st December, 1901.
$ C.
To amounts written off :--
31st Dec, 1904.
LIABILITIES.
$
0.
Remuneration to directora ...
15,000.00
To dividend account:-
$ 0.
Amount of capital, 80,000 shares of $15
each, fully paid up Amount at ore lit of depreciation and in-
surance fund
..1,200,000.00
Amount at credit of equalization of divi
dend fund...
600,000.00 250,000.00
355,555.75
Amount at credit of investment fluctuation
888,588.88
account
159.444.38
Unclaimed dividends
Sundry creditors
£1 10s. per share on 81,000
shares-£12,0-0 at 4s. 6d. 533,333.33
Bonus of £1 per shar、 on 80,000 shares-£80, 0) at 48. id..
To dividend adjus'ment account :—
Difference in exchange between 48. 6d.,
the rate at which the dividend and bonus are declared, and 1s. 11 9-16th the rate of the day...
To transfer to silver reserve fund.. To transfer to bank pre:.ises account.......... To balance forward to next half-year
Cr.
1,118,246.42 ..1,000,000,00 200,000.00
..1,493, 108.75
$4,745,544.05
C.
By balance of undivided pro- $ C.
fits, 3 th June, 190
By amount of net profits for the six months ending 31st Deeenib r, 1901. after making provision for bad and doubtful debts, de- ducting all expenses and
1,492,554.31
interest paid and due......3,252,989.74
Hongkong and Shanghai Banking Corpora
tion, current account
5,793,00 36,926.36
Mr.
Directors. Sir Charles Dudgeon left for England in October last and was granted leave of absence.
Hogg returned in December and resumed his seat at the Board. Mr. Kin- near resigned, on his approaching departure for home, and was replaced by Mr. McLeod. Sir Charles Dudgeon retires by rotation, but offers himself for re-election.
Auditor.-Mr. Wingrove was compelled to go to England in November on account of his health and the accounts have been audited by Mr. W.-H. Anderson. Mr. Wingrove retires, Amount at credit of profit and loss account 106,160.88 but offers himself for re-election.
E. J. HOGG.
Chairman
42,344.12
PROFIT AND LOSS ACCOUNT. 31st Dec., 1904.
Dr.
To amount paid for repairs to steamers To directors and auditors' fees Balance to be appropriated, viz. :---
Dividend of $1 per share on
80,000 shares..
Tls. 571,884.54 1,209,240:61
$2,399,668.74
$ C. 13,391.22 4,750.00
BALANCE SHEET. A ssets.
= ̈ Dr. Estate No. 1
$80,000.00
do. do.
2
265,885.24
"7
To be carried forward to new
account
do.
166,908.35
འ
26,160.88
do.
708,557.87
106,160.88
do.
224,038.68
""
$124,302.10
do.
33,305 57
**
do.
10
119,508.35
-4,745,544.05
31st Dec., 1904.
Cr.
do.
11
32,859.34
$1,745,544.5
By amount brought forward from last ac-
count
do.
12
196,581.40
16,362.85
19
To balance
STERL NG RESERVE FUND.
By alance 30th June, 1904
By not earnings of steamers.
65,006.17
do.
13
191,128.69
By interest on investments
42,821.08
do.
14
"
$10,000,000.00
By transfer fees
112.00
do.
15
$10,000,000.00
Cash due by agents.....
(invested in sterling securities.)
$124,302.10
SILVER RASERVE FUND.
Sundry debtors...
To balance.
$8,000,000.00
DEPRECIATION AND INSURANCE Fund.
By balance 30th June, 1904
By transfer from profit and loss account 1,000,000.00
To balance.
7,000,000.00
31st 1.8o.,
1904.
Dr.
0.
Cash in Hongkong & S'hai Bank.. Sundry Mortgage Loans
140
50,070,67
230,173.37 3,381.82 44,984,40 84,785.53 1,765,940.92
30th Dec., 1904.
Cr.
$8,000,000.00
By amount at credit
EQUALISATION OF DIVIDEND
600,000.00 $ 0. 600,000,00 FUND.
Tls. 5,899,188.35
31st Dec., 1904.-
Dr.
Cr.
THE HONGKONG, CANTON AND MACAO STEAM-BOAT CO., LD.
The report of the Board of Directors to the ordinary half-yearly meeting of shareholders to be held at the office of the Company, on Tuesday, 14th February, at 12 o'clock noon, reads :-
The directors beg to submit to the share holders the report and statement of accounts for the half-year ending 31st December last.
After paying running expenses, salaries, premia of insurance, repairs and all other out- goings, there remains, including $16,362.85 brought forward from last acount, the sum of
To balance 30th June, 1904.
By amount at credit
THE SHANGHAI LAND INVEST- Debentures Bearing interest 51 per
MENT CO., LD.
Report of directors, for presentation at the sixteenth annual meeting of shareholders, to be held on Wednesday, the 15th February, 1905, at 4.39 o'clock p.m.
The directors have much pleasure in placing before the shareholders their sixteenth annual report, a report which shows what they cannot help thinking is a very satisfactory state of affairs in the working of the company.
|
Debentures Bearing interest 5 per
cent. Profit and Loss Account Unclaimed Dividends Sundry Creditors Reserve Fund Account Reserve Fund Special Account
226.14
82:50
800,000.00 167,144:76
Tls, 5,899,188.35
$ c. 250,000.00
LIABILITIES.
Cr.
250,000.00
0. Capital Account
Tls. 2,600,000.00
-Debentures Bearing interest 6 per
cent.
1,400,000.00
cent.
250,000.00
350,000.00
331,734.95
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