March-20, 1905.] ~
has been decided to issue in the coming year & further portion of the balance of the authorised Capital at such time, and on, such conditions as the Directors may deam expedient.
H
Directors-MrJ. M. Young retires from the Board by rotation, but, being eligible, offers himself for re-election. Mr. J. Bleobynden join. ed the Board, and his election requires confirtis tion. Mr.C, L. Esita takes the place of Mr. H. Speth age, deceased, as Managing Director. Auditor. The Accounts have been audited by MA, R. Leake, who offers himself for re-election.
A. W. BURKILL
Fhanghai, 1st March, 19:5.
...
Chairman,
BALANCE SHEET on 28th February, 1905. Tls.
Dr. Liabilities. Capital+2,780 Shares at Tls: 100.00
Deutsch-Asiatische Bank
Directors' and Auditor's Fees. Sundry Creditors
Bill Payable.
Reserve Fund.;,
Special Reserve Fund
Profit and Loss Account
Cr.. Assets
***
|
GIZA BRI II LIAHEIM.DZON MORAL UHINA OVERLAND TRADE REPORT. --
at a decision the board may know that they are acting in accordance with a majority of the shareholders. This plan will enable us to arrive at a better decision than can be attained at this meeting, at which the large section of Home shareholders cannot express their opinion. In view of the approaching departure on leave of our Chief Manager, the board have appointed one of their number, Mr. G. C. Moxon, to be Managing Director Before proposing the adoption of the report and accounts, I will be glad to answer any question which shareholders may desire to put.
There being no questions I beg to propose the adoption of the report and accounts.
Mr. G. C. MoxoN seconded the proposition, and it was carried.
Mr. J. 8. JOSEPH proposed, and it was seconded and carried that the alteration on the Board be confirmed, and that Mr. J. Scott 278,000.00 Harston be re-elected a Director and Mr. 147,937.85 Horace Mocatta be elected on the London
1,250.00 | Committee.
50,631.91- Mr. POTTS proposed, Mr. E. D. HASKELL 63,883.67 seconded, and it was carried that Mr. A. R. 10,000.00 Lowe, C.A., and Mr. I. E. Bingham, F.L.A. 3,938.76 (N.Z.) be appointed auditors, and that Messrs. 32,894.21 Deloitte, Dover, Griffiths and Co., re-appointed
auditors in London,
Tls 588,536.40
Tis.
Buildings and Improvements on
Property
Lumberyard Property
Furniture
Saw Mill Machinery.....
Sundry Debtors...
་་་
Unexpired Fire Insurance Premia.. - Deutsch-Asiatische · Bank, Hankow Cash and Native Orders in Hand ...
8took of Lumber.
at Shanghai:
at Outports
Tis... 312,764,63 82,756. 3
73
An extraordinary meeting followed for the purpose of considering the following resolu- tion:-"That Article 115 of the Articles of Association be altered in the following manner 11,000.00-i.e., the word "three shall be substituted for 15,019,34 the word "ten" in the third line of that Article, 2,200.00 and the word "two" shall be substituted for the 12,500.00 word "three" in the fourth line of that Article.', 141,631.15 The Chairman moved the adoption of the resolution without comment. Mr. Ĝ. C. Moxon seconded, and it was adopted.
2,034.87 627.21 8,002.27
The CHAIRMAN.-A confiimatory meeting will be held this day three weeks, of which notice will be given.
That is all the business. Thank you for your
895,521.56|attendance.
Tls. 588,536.40
PROFIT AND LOSS ACCOUNT.
•
To Directors' Fees ... To Auditors's Fees- To Depreciation on Furniture.......
do: on Buildings. To. ::. do on Machinery To Balance...
To
Tls. 37,851.14
Tis
THE SHANGHAI GAS COMPANY, LIMITED.
For the 12 months ending 28th February, 1905, Dr.
Tls. 1,000.00
250.00 The annual meeting of shareholders in this 245.91 company was held at Shanghai on March 7th. 1,140.29 There were present: Mr. E. Jenner Hogg 2,320.73 (Chairman), Messrs. F. Ayscough, J. Cooper, 32,894.21 P. F. Lavers and J. M. Young (Directors), Mr. H. King Hiller (Chief Engineer and Acting Secretary), Messrs. J. Ambrose, W. Armstrong, H. F: Bell, A. H. Brooks, P. J. Clarke, W. B. Cheetham, H. E Hobson, A. Hunt, J. N. Jameson. C. Selby Moore, E. E. Parsons, W. A. C. Platt, F. W. Fotter, A. Reece, D. Reid, M.D., A. Shewan, and R. E Toeg, representing 2,807 shares and 730 votes.
The Chairman-It is a great pleasure to meet you again to-day and to be able to present to you such an excellent record of the Company's progress and position. We satisfactorily show that our anticipations of increased business are fully borne out and that *our outlay to meet It has been not only prudent but absolutely necessary, and shall have
Cr. By Balance brought forward from 1904 2,595.91 By Transfer Fees Account--Saudries 3.84 By Working Account-Sundries 35,251.89
Tls. 37,851.14
NATIONAL BANK OF CHINA,
GENERAL AND EXTRAORDINARY MEETINGS.
to continue our
The fourteenth annual general meeting of the National Bank of China, Limited, was held at the head office, Victoria Buildings, on Mar. 18
we Mr. Ewans presided and there were also You have doubtless studied the Report and prevision. present Messrs. G. G. Moxon, Kwan Fong Fuk Accounts in which we have given you the (directors), G. WF. Playfair (General fullest information, but I may make a few Manager), P. C. Potts, J. 8. Joseph, A. E. remarks. You will note an increase of nearly Lowe E. D. Haskell, Fung Wa Chun, Woo 28 per cent in private consumption, and Yik-Tai: Kee Sheng, Tung Hoi and others.
The CHAIRMAN ssid :- ĞENTLEMEN, I have extending
though we have not much opportunity of our public lighting in the now to submit to you for adoption the report and Settlements north of the Yangkingpang, we accounts for the past year made up on the basis are extending the incandescent gas.system of the reduction of capital to £5:paid up, which in the streets, etc., of the French Settle was passed by you in September last and sanc-- ment. We only supplied one gas engine tioned by the Court in London on the 14th. February with the usual proviso that we should bear the title of reduced for one-month, which expired on the 14th instant: You will see from the bocounts that the net profits amounted to $114288.514Your: directors have, however, considered it prudent to strengthen the reserve funds particularly nssite: maybe desirable: to increase our rempital either by calling up the balance of £2 per share or of asking you to subscribe for a further issue of shares What
we propose isŝtobgendom circulars to the share holders here and elsewhere `asking them do state their views in writing so that in arriving
more last year than in 1903, but the consumption in this form has increased by 45 per cent. Looking at Working Account, our total receipts are Tis. 432,900.70, against Tis. 366,307,11, an increase of. Tls. 66,593.59 or 18.18 per cent. Actual gas sales amounted to Tls. 374,460.02, against. Tls 293,786.54, an increase of Tis. 80,673.48 or 27.45 per cent. There is an increase in the item for tar, but unfortunately we have a falling off in the price of cake, which has reduced our income, trots that source. We shall get an improvement on the present price, when the time, comes for to arranging the contract most month, as to
the other side of this soood remark that the incronse) is the necessity of our liuore With reference to: Profit and sorry to says, we share: toɛs through an employe, who man priste some of the consumers' depo endeavoured, but failed, to obtain:[red Consular Court. There was also air: large bad debt, and this too we were unable(100, recover. Precautions have been taken,which will, I believe, prevent the recurrence of much i like misfortunes. The state of the debenture H market will account for the bulk; off the debit entry of Tla 8,658.78, as we, like others, had to...- issue some of our debentures under para Onti the other side, I need only explain that interest account is the balance after, crediting lithis[T account with interest on plant and buildingu 72 in course of construction -less-the- debit of interest on overdraft etc. : You will have been fully prepared for the important { additions to our assets. as shown in the BalancO- | Sheet.
for the present, fully supplying the
I need only say thất, they of the Compay. On the other side, will find that, as anticipated at our last annu meeting, our capital account has been ind to Tls. 800,000, our debenture issue of 1900 completed up to Tis. 200,000, and furthe credit added to our share premium "socount through the issue of the further capital at a premium of Tls. 25 per share. Having thus explained the accounts it is now my pleasin duty to ask you to approve the appropriations stated in the report. It is a matter of don we propose of our balance of Tis. 112361.95, as
gratulation that we are fully able to keep up the same return per share as last year, although it is on a capital increased from Tis. 533,300 to Tlaj 800,000. We have written off amply "for depreciation under the different headings, and I am sure you will endorse the prudence of ̈ ́ a transfer of Tls. 20,000 to renewals and depreciation accounts, bringing it up to the substantial sum of Tls. 145,000, Ar to.” future, all indications point to an undiminished. rate of progress, and this cannot be surprising. to any who have taken an interest in what has been and still is, going on elsewhere, sinos the improvements and developments following on the invention of Welsbach. It is impossible to ignore the practical meaning of the fact ("not to. mention others) that two new magnifcent thorough-fares in London are being lighted with gas after the Holborn Council had decided that" the lighting should leave nothing to be desired," And those who wish to learn have only to study the accounts of the recent gas exhibition in London to understand what splendid results are now obtainable from gas for lighting, heating, and power. I need not ssy much more about our progress here. W are now frequently making 1,300,000 onbic feet in a day. On China New Year's day we reached 1,855,200 cubic feet, and it is interesting to com- pare that with the corresponding date in 1900 when it was only 721,000 cubic feet, which it that time pleased nr very much. During 1905 our coal supply will cost us rather less per ton than last year, and we have a large scheme for improved distribution, and you may rely directions. I have no doubt that this will, on our keeping abreast of the times in all
before long, compel us to extend our ex- penditure on works that, must be provided" as they become necessary, and "which" will ** involve the raising of further capital in some form or other. I hope that the day is not fa distant when we shall be able to effect a further reduction in the price to consumers." Adopted" as circumstances permit, this policy has every thing to recommend it. It confers a benefit our consumers and it tends to intrekké consumption; in fact, “It blesseth himm gives, and him that takes”
The following resolutions were put and carried unanimously.
Proposed by the Chairman, ssbonded by M- J. M. Young That the report and accounts as presented be accepted.”
ཚ་
D
Proposed by the Chairmak, soc Cooper: That a final dividend for ended the 31st December 1904, even per cent on the paid-up company be paid to the so | Proposed by the Chair Lavers: That a bonus of The Looper
x uenhedy%acn.
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