100
paid to the shareholders on the paid-up capital of the company for the year 1904.
Proposed by the Chairman, seconded by Mr. Cooper: That the balance at credit of profit and loss sccount, remaining after the payment of the dividend and bonus on the shares declared at this meeting, be appropriated as recommended by the directors in their report for the year 1904. Proposed by Mr. Hobson, seconded by Mr. Clarke: That the appointment of Mr. F. Ays- cough as a director of the company be confirmed.
Proposed by Mr. Platt, seconded by Mr. Am- brose: That the appointment of Mr. E. Jenner Hogg as a director of the company be confirmed.
Proposed by Dr. Reid, seconded by Mr. She- wan: That Mr. J. M. Young be re-elected as director of the company.
Proposed by Mr. Toeg, seconded by Mr. Bell: That M, W. H. Anderson be elected auditor of the company.
THE SOY CHEE COTTON
SPINNING CO., LD. The annual meeting of this Company was held at Shanghai on March 7th. There were present: Messrs. M. Mittag (Chairman), A. Zickermann, A. Hoerttler, Woo Sawchin, and Ho Hsien-chu (Directors), R. Lemke (General Manager), A. L. Charlton, F. Grünwa'd and Vice-Consul Mezzer.
THE HONGKÓNG WEEKLY PRESS AND
Proposed by Mr. Zickermann, seconded by Mr. Woo Saw-chin :--That the election of Mr. Hoerttler as a director be confirmed.
Proposed by the Chairman, seconded by Mr. Ho Haien-chu:-That Messrs. A. Zickermann
and Woo Saw-chin be re-elected directors,
Proposed by Mr. Lemke, seconded by Mr. Zickermann:-That Mr. B. Gorecke be re-elect- ed auditor.
}
}
THE WEIHAIWEI LAND AND BUILDING CO., LD.
The annual meeting of shareholders in the Weihaiwei I and and Building Company,
(March 20, 1908. following statement was made by the Chair
man.
Gentlemen: We have to submit to you to- day our third annual report, and with it we place before you the general working account and balance sheet for the year ended December 31st 1904. After considering the accounts I shall ask you to adopt them and also to proceed to the election of two directors in accordance with the articles of association. The first item in the Balance Sheet is capital secount. - The same amount, viz., Tis. 772,600.00 is now ontata iding as at the time of our last report, but it is now fally paid up. Attention should be called to the fact that of our new capital Limited, was held at Shanghai on March 8th.
one-half was paid up on October 1st, 1903," and There were present Messrs. W. A. C. Platt one-half on April 1st, 1904, all ranking for (Chairman), E. Jenner Hogg, A. MoLeod dividend from January Ist., 1904 and a large (Directors) P. F. Lavers (Secretary), W. C. part of which could not at once be used in our Murray, A. P. Wood, H. F. Bell, W. S. Jack-business as it takes some time to absorb the son, H. W. G. Hayter, A. L. Anderson,
This money in the business of the company. Captain J. B. Lowe, J. M. Young, W. D.
will explain why in 1904 we have declared only Little, and R. B. Allen, The shareholders 7 per cent, dividend as compared with 9 per cent, in 1903. As soon as This condition” is present represented 1,168 shares.
altered and all our money goes into buildings, we can reasonably expect that the previous rate of earnings will be exceeded. Of our land the amount actually built on is as follows:-Land, 351.584 mou; built on, 126.366 mou; making 35 per cent. now developed and, as we cover more of our present unused land, we can hope for greatly increased profits. Our debentures stand as on 31st December, 1903, viz., Tls. 452,800,000.
The Chairman: The accounts show a mach more satisfactory state of affairs than any others that have been put before you at our annual general meetings. This is to a great extent due to our having been able to dispose of a part of our property known as Estate No. 6. That estate cost us and stood in our books at
The CHAIRMAN,-Before entering into the business of the day, it is with extreme regret ITs 7,770.02 and we sold it for £1,850 or Tls, have to inform you that Mr. Joh. Noelting, the 14.557.38, realising thereby a net profit (after Chairman of our Company, died on the 26th paying expenses) of 11s 6,423.43. We have of September, 1904, and I would request you to
been able to pay off our debit balance with rise in memory of the deceased gentleman, who the Bank, and have now a credit balance. We was connected with our Company practically have written off 33 per cent. from furniture since it was incepted.
account, and we have invested in Shanghai Gas Company debentures the sum of Tls 8,691.24. This sum, we suggest, should be used for developing the Company's business so soon as we learn definitely the British Government's intentions with regard to the future of Weihai- wei and sufficient encouragement is given to invest capital in the place. I am sorry to say
Those present rose in their places for a moment, and on resuming their seats, the Chairman continued:
You will have seen that the profit on Working Account for last year amounts to Tls. 80,5 3,29, as against Tls. 88,758,80 for the preceding year, This result, I regret to say, cannot be called
satisfactory, although the fact must not be lost
we have not been successful in obtaining from the British Government payment of our claim
CANTON.
10%
[FROM THE "CHUNG NGOI SAN PO."]
HAROUN-AL-BASCHID AT CANTON.
Viceroy Sham received orders from Paking to return and see to Kwangtung affairs. He was also requested to root out all robbers and waked up the Mandarins, and the Gentry with His arrival has pirates-a big contract.
59
sight of that our mill, and the cotton spinning for the 190 rents of the bungalows. When bave vanished into retirement. From this industry generally in this part of the world, have been, and are still, passing through anxious and troublous times. The balance at credit of Profit and Loss Account, after the deduction of all charges, interest, etc., amounts to Tls. 49,124.79, which includes the sum of Tls. *26,389.7" brought forward from 1903 accounts. Your Directors have been unable to declare a
dividend out of this balance on hand, but have deemed it advisable to provide for an increase
of our Legal Reserve Fund, in accordance with
the Rules of Association, and for depreciation of machinery and furniture accounts as set forth in the report, and to again carry forward some Tís. 22,000
to
now account,
to provide for contingencies. Upon examina tion of the accounts you will find that this rather unsatisfactory result has been brought about chiefly by the increased amount on interest account which we have had to contend with, viz., Tls. 51,670,43. This, gentlemen, may be con- sidered as a direct outcome of the political situa- tion, which not only practically closed the Northern ports to us for some time,--our production being to some extent dependent upon those outlets, but also adversely influenced our business generally. Although we have been able to dispose of last year's production at prices leaving a fair margin of profit, our stock of yarn is kept on an abnormally high figure practically all the year round, thereby neces- sitating an extraordinary strain on our financial resources and involving a very heavy expenditure on interest account. I may state, however, in this connection, that we have been able to make satisfactory arrangements with our buyers, whereby our stook will be gradually reduced during the next months, and I am pleased to say that there are already signs of improvement, our stock of manufactured yarn in godown decreasing daily. In regard to the
working of our mill during the year under review, I am glad to state that the same has worked satisfactorily and steadily all the year round, with practically no irregular interrup tions at all.
The following resolutions were put and unanimously carried :--
Proposed by the Chairman, seconded by Mr. R. Lemke-That the report and accounts as presented be passed,
Mr. Hogg was in England he got certain Members of the House of Commons to take an interest in the claim and did all he could to get the claim recognised, but without success. Our thanks, however, are due to Mr. Hogg for the trouble he took in the matter. We think it as well to leave this item still standing in
our books in the hope that some day the justice of our claim may be recognised. At the last annual meeting a shareholder suggested that the advantages of Weihaiwel as a deep water port, and otherwise, should be brought to the notice of big shipping firms. Steps have been taken in this direction, but we are afraid that until our Government makes known its future
no
intentions with regard to Weihaiwei, extensive private outlays will take place in godowns and shipping facilities. Eight bua- galows are now let for this season, which is the best the Company has yet done. The furniture account has been considerably written down, and as the Company's buildings have been kept in good repair we think we can say the general financial position of the Company is sound, and puts us in a position to take advantage of any opportunity that may arise for furthering the Company's interests.
-
The following resolutions were put and car- ried unanimously :-
Proposed by the Chairman, seconded by Mr. Muray: That the report and accounts be accepted and passed.
Proposed by Mr A. L. Anderson, seconded by Mr Bell: That Mr W. A, C. Platt be re- elected a director of the Company.
Proposed by Mr W. D. Little, seconded by Mr Young: That Mr A. R. Leake be re-elected auditor,
whom they have been arranging "squeezes
modest self-effacement, Ng Chum-hui of Canton has been dragged, and asked to account for blackmail he is alleged to have received from a monk of the Cheung Shan Monastery, who presumed to doubt the wisdom of the en- lightened Emperor in ordering that a part of the said Monastery be used as a Commercial College to be established by the Canton Government. The monk has been accommodated with a lodging in the goal, so that he may have adequate leisure for dignified and pure-minded internal reflection. His Excellency has com manded that all robberies be reported to himself; but as before-time the practice of the Mandarins to permi all complaining persons to pay the yamen runners for investigating such com- plaints, he has not heard of many. It is said that His Excellency is copying the ruler in
· Arabian Nights," and going out at night, unattended, to look-see for himself. The Chinese reporter comments : "No Viceroy or Governor
was
ever did this before."
SEVEN ROBBERS CAUGHT.
The Viceroy has sent some officers to Macao to take over the notorious robber named Lam-Kwo-8g, who committed robberies and crimes of every description, and who, being hardly pressed by the soldiers, took refuge in Macao, where he was afterwards captured by the police of Macao at the request of the Canton government some four months ago. It is now said that the Maono Govern- ment has consented to hand him, together with six other robbers who were also arrest ed in Macao, to the Canton Government. In the district of Hung Shan well-to-do citizens were frequently reported to be captured and held to ransom by robbers, who appeared in large bands. Sometimes thousands of dollars
THE TIENTSIN LAND INVESTMENT were paid for the release of a single one; but
COMPANY, LIMITED.
as the robbers were so numerous, each one often had only a small "dividend." Of late, armed with revolvers, they often appear on the roads,
Tientsin Land Investment Company, held on
At the annual General Meeting of the to capture any person who happens to pass. The amount of ransom is afterwards decided Feb. 23rd, there were present Messrs. Charles according to the wealth of the captive. It is Denby (Chairman) Tsai Shou kie, C.R.
said that within the preceding hall year, over Morling, W.T.L. May, W. M. Henderson, one hundred persons were thus captured; and- A.P. Pook, WA. Morting, R.A. Cousins, and the money for ransom amounted to several E.L. Cockell, representing 4214 shares. The thousands of dollars.
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