130
18.
They can hardly fail to afford you satisfaction, showing as they do the, maintenance of the Found earning power of the company and giving practical evidence of the great value of the company's properties whenever a realisation appears desirable in the interests of the shire- holders. It will a'so be noted that the sub- stantial amount of our reserve funds gives us
so important to the strength that is Turning to the accounts:-the Working account shows a slight increase in charges and salaries, due to the extra expenses arising from changes in the staff. Our working profit is slightly greater than last year, although a good deal more has been spent on repairs so as to keep our buildings well up to the mark. You will find that in the profit and loss account is included the profit of Tls. 83,085 on the sale of a portion of Jinkee (No. 6) estate, a sale which was brought to your notice at the last annual meeting, and on which I need not comment further now. The transfers to the respective reserve funds as shown in the accounts have been made in accordance with the recommendations of a year ago, and they have placed these accounts in a satisfactorily strong
position. We only propose this year to appor- tion the usual interest on undeveloped estates to credit of Reserve Fund and a small amount to bring the specil Reserve Fund account up to the sum of Tls 170.000. In regard to the items in the balance sheet we have spent some Tls 22,00 on buildings on No 2 estate and a amali amount on No 4. No. 6 (Jinkee) is of course reduced by the sale of a portion of the property to the German Club. No 8 is increased by the As the outlay on bunding uluded to last year. report explains, there have been nnlooked-for delays in completing this work, but we propose to make a beginning with the banding there immediately. Otherwise there is not much change in the cost of our properties. Where there is any alteration the added interest on vacant lands will almost entirely account for it. The company has Tls 1,766,000 out on profitable and well-covered mortgages and this shows a slight reduction on the amount shown last year. Beyond this, gentlemen, I do not think I have much to say, but I may mention that we are contemplating certain developments, during the year which promise to be remunerative. Before putting the resolution to pass the report and accounts I shall be glad to afford any further information that any shar, holder may desire.
There were no questions.
The Chairman-I beg to propose that the report and acconuts as presented be approved and pass d. In the report you will notice that there was a change in the directorate, Mr. Kinnear's place having ben filled by Mr. McLeod. In passing the report you will confirm this appointment,
Mr. Young seconded, and the resolution was carried nem, dis.
The following resolutions were then put to the meeting and carried unanim usly
Proposed by the Chairman, s conded by Mr. Wri, htson-That the directors be authorised to pay a final dividend of 6% on the paid-up capital, and a bonus of Tls 2 per share to shareholders on the register at that date.
Proposed by Mr. W. D. Little, seconded by Mr. Sacray-That Sir Charles Dudgeon be re-lected a direc'or for the year 1905.
Proposed by Mr. Jameson, seconded by Mr. Murray-That Mr. G. R. Wingrove be re- elected auditor for the corrent year... - N -C. Daily News.
SOY CHEE COTTON SPINNING CO., LD.
The Report for presentation to the 'Share- holders at the Tenth Ordinary Meeting, to be held at the Office of Messrs. Arnbold, Karberg & Co., Shanghai, on Tuesday, 7th March, is thus published by the N.-C. Daily News:
The General Manager submits a Statement of Accounts to the 31st December 1904.
The working of the Mill has been satisfactory, and the whole of last year's production was sold at remunerative prices, but owing to the out. break of hostilities in the North deliveries of yarn became very slow during the latter half of the year, and on account of the accumulating stook our Interest Account was considerably increased.
THE HONGKONG WEEKLY PRESS AND
The Profit and Loss-Account shows à Balanı ● at Credit of Tls. 49,124.79, which it is proposed to deal with as follows:-
To place 5 per cent to Legal Reserve Fund (in accordance with Rule 24 of the Articles of Association) To write off 4 per cent for depreciation
of Machinery
To write off 23 per cent for depreciation
of Furniture
To carry forward to new account
Tis.
2.156,24
24,098.63
519.1 22.450.78
Tis. 49,124.79
In accordance with Rule 24 of the Articles of Association, 10 per cent of the balance at credit of Profit and Loss Account is to be granted to the General Manager as a bonus, which, how- ever, is not claimed in order to assist the Mill.
Board of Directors.-The Directors regret to announce the decease of Mr. Joh. Noelting. In his stead Mr. A. Hoettler has joined the Board; his.election requiring the confirmation of the shareholders.
In accordance with Rule 12 of the Articles of Association two members of the Board, Mr. A, Zick rmann, and Mr. Wo Saw-chin, retire by rotation, but offer themselves for re-election.
Auditor. Mr. E. G-recke, who has audited the account, offers himself for re-election.
R. LEMKF. General Manager
Shanglai, 14th February 1905.
The accounts are as follows:-
LIABILITIES.
BALANCE-SHEET. per 31st December, 1904.
2,000 shares, fully paid-up Overdraft with bankers Accounts payable Legal reserve fund Balance of profit and loss account
Property account Buildings
Machinery Furniture
Yarn stock
cotton and waste stock
ASSETS.
Cotton and yarn in process.. Mill stores
Unexpired fire premia
Sundry debtors
Cash with compradore.
Taels 1,477,300,63
[February 25, 1965.
| HONGKONG JOCKEY CLUB
RACE MEETING.
FIRST DAY..
STEWARDS-His Excellency Sir Matthew Nathan K.C.M.G., His Excellency Vice-Admiral Sir Gerard H. U. Noel, K.C.B., K.C.M.G., His Ex. cellen-y Maj. General Vil·iers Hatton, C.B.. Rear- Admiral Hon. Asheton G. Carzon-Howe, E.N., C.V.O., C.B., C.M.G., Commodors Charles G. Dicten, R.N., Sir Paul Chater. C.M.G., Mr. A. Babington, Ilon. Mr. W. S. Gres-on, Mr. J. A. Jupp, Hon Mr. F. H. May, C.M.G., Mr. E. W. Mitchell. Mr. J. C. Peter, Major 8. G. Radcliff, Mr E. W. Rutter, and Mr. H. P. White. CLERK OF THE SCALE:-MOS TR. A. Babington and
E. W. Mitchell.
JUDGE:-Sir Paul Chater C.M.G. STARTER: -Hon. Mr. F. H. May, C.M.G.; Second
Starter, Mr F. B. Deacon.
TIME KEEPER :-Mr. J. R. Michael. HON. TREASURER:-Mr. C. W. May. CLERK OF THE COURSE:-Mr. T. F. Hough.
unex-
For the opening of the Hongkong Raos Meeting, on Feb. 21, the weather was pectedly beautiful Warm sunshine, the first for days, dispelled the clouds that belted the n-ighbouring heights; and the ladies who went at:ired with the wisdom of recent experience, Others, found it almost nnplea-antly warm, who had had faith in the meteorological luck of the Jockey Club. looked cool and swet in summ r gear, and brightened up the big crowł in the enclosure. The air was so clear that spectators could be seen watching from as far away as the Viaduct. The Jockey Club enclosure, the new building having been completed, never Tis.
looked more gay.
The stands above the pari- .1,000,000.00
271.657.53 mutuel in the new building were occupied, 148,059.50 respectively, by H. . the Governor on the 5,653.72 right, H. E. the General on the left, and 40,124.79
members of the Jockey Club in the middle. They were all decorated with bunting and greenery. The Jockey Club clours floated over the ontre. The Governor's stand was decorated principally with the Union Jack; and that of the General with the Royal standard, The Grand and shining bayonet devices. 374,458.66 Stand being newly painted looked very well was the first 62,0 6.89 The Hongkong Club stand 28,9.30.03 of the long building. the dining room being on 32,771.98
the ground floor. The other stands, over the 3.31.10
stables, were as follows:-Mr. H. N. Mody (Baxey), very prettily decorated with blue and white cloth, and oil paintings H、n Mr. W. J. Gresson; Mr. J. R. M. Smith; Officers of the Royal West Kent Regiment; Mr. E. S. Whealler ad Mr. E. W. Rutter Hon. Mr. B. 51,670.43.Shewan, Mr. T. F. Hough and Mr. J. L. 2.500.0 Houston; Mr. A. Babington and Mr. H. P. 250.00 White; The German Club, decorated with 11,303.05 block white and red.
G rman and the 49.124.79
coat of arms ; the Wayfoong Mess; Mr. Taels 111,848.27 Henry Humphreys and Mr. John Japp; Officers of the Royal Garrison Artillery, W. Dixon, red and blue decorations; Mr.
Tls.
100,271.81 261,2 2.77 602,465.87 2,595 72
582.20
8 843.50
Taels 1,477,500.6
PROFIT AND LOSS ACCOUNT.
per 31st December, 1901.
Dr. To interest .... To directors' fees To anditor's fees
To general managers' commission To balance...
Cr.
By balance on 1st January, 1904... By transfor fees By rent account
By profit on property.
By balance of working account
Tls,
Tls.
4.00
80,523.29
26,399.77 the Hongkong and Whimoa Dock Com 2,055.41 pany's fig; officers of the Roy 1 Navy, the 5,875.80 White Ensign. The Club Lusit 100 pavilion was a matshed near the main entrance to the en- closure. The usual matsheds had been erected Taels 111,843.27 for the various small " Clubs," and hotels. The pari-mutuel arrangements were conducted by Mr. I. P. Madar, of the King Edward Entel. The course was in excellent trim.
CORRESPONDENCE.
INFORMATION REQUIRED.
TO THE EDITOR OF THE "DAILY PRESS,'
Hongkong, 23rd February. SIR, Recently it was announced that a Registry Office for Servants had been opened and in fact I believe it was advertised publicly.
Can you inform me if this office is still in existence ? If the Manager of the Registry wishes it to be of public use surely he should continue to advertise his address so that it would be possible to communicate with him.
Yours truly,
HOUSEHOLDER.
The Mitsui Bussan Kaisha were in 1901
again at the top of the list of Japanese coal exporters, shipping 2,502,351 tons, or nearly half the total export, viz: 5,7:5 153 tons. This was 163,814 tons more than they shipped in 19.3. when the total shipments by all companies were greater, viz : 5,895,392 tons.
The band of the Royal West Kent Regiment was in attendance, playing popular airs really well. There was 貔
very good attendance, H.E. the Governor put in an appearance just before the first race.
Rose beat his stable companion Rosy Morn In the Wong-nei-chong Stakes Silver Queen Rose by sheer jockeyship. Heather King, the second favourite, won the Victoria Stakes, Coronet Rose being nowhere. Coronet Bose,
apparently, was stale, or otherwise no pony in China could touch him. Heather King: paid a dividend of $21.50 for the win. In the Valley Stakes The Gem Rose came in first as tipped. Blackbird was rather unfortunate in being jammed or otherwise would have
from the Maiden Stakes given a better account of himself. Halifax King, the favourite, who came second. The dividend for the win was $22.50. Algerine came first in the Fooshow Cap, paying his backers $31.40. Two of Mr. Buxey's ponies, Empress of India Rose and Invincible Rose
won
Umbrian
1
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