160
Add increase in value
-
223,749.58
216,140.00
301,735.40
33,000 00
Building there.n Hotel Mansions,"
payments on account to date. Cost of three Chinese houses on Sections B, C, and D of Land Lot No. 80 Cost of Kowloon Firm Lot No. 3, Section
A
Furniture and fixtures, as per
31,926.00
last account
62, 92.92
Less written off. as per last
report
12,092.92
!
50,000.00
Since added
15.117.18
05.117.18
Installation of electric light.
as per last account
31.228.74
Less written off, as per last
report
1,228.74
Since added
30,000,00 55.40
Stock of linen, crockery and glassware, &c. Stock of wine, provisions, household sun. dries and stationery. as per inventories Shares in public companies Licenses attaching to half year to 31st
December, 1905
Fire insurance, wexpired premium. Value of steam launch, as per
last account
7,000,00
Less written off, as per last
report
2.000.00
Sundry debtors
Hongkong and Shanghai Banking Corpora
tion (unclaimed dividend account).
Cash in hand
34,050.4
3.000.00 36, 04.97
193.71
$1,911.939.15
PROFIT AND LOSS ACCOUNT, For the Six Months ending 30th June, 19 5. Dr.
To bad debts and refunds
To crown rant
To rates..
To fire insurance
'I debentare Int. on $500,000
at 3 per cent.——
$15,000.00
To lass returned on debentures
held by the company
4.024.11
To interest account
To directorand auditors' fees To amount transferred to reserve fund
being increased value of properties as per contra
$
.
810.19 502.41 2,646.15 2.361.23
THE HONGKONG WEEKLY PRESS AND
Cr.
By amount transferred from profit and loss
account, as recommended in last report 10.000.00
$10.000.00
HONGKONG COTTON SPINNING,
WEAVING AND DYEING.
CO. LU.
The eighth ordinary annual meeting of Share- holders in this company was held at the offices of Messrs. Jardine. Matheson and Co. on
|
[September 4, 1905.
WEATHERING THE TYPHOON.
EXPERIENCES OF CREW OF 8.8. "LENNOX."
On Sept. I the 8.8. Lennox (Captain McNair); which left Hongkong for Callao on the 23rd August returved to this port after having passed miles from Hongkong the first of the rough through the recent typhoon. When about 90
weather was felt, a strong north westerly breeze blowing, which continued to increase in force while a heavy sea was running. The sky became overcast, and the barometer which stood at 29.30 continued to fall, an indication of coming rough weather.
The crew began to prepare their vessel for the trying ordeal they were soon to face. Hatches were lashed down and the speed of the vessel reduced, while every man was at his post ready for the fight against the elements. About five o'clock the barometer registered 29 22 and the increasing wind shifted to the northward. By eight o'clock the resse was caught by the full force of the typhoon heavy seas breaking over her decks which made it almost impossible for the seamen to keep their feet.. Strong squalls of wind and heavy showers of rain added greatly to their discomfort. A mountainous sea broke over the poop, flooding the cabin and carrying away the wheel box and gratings, while poultry and livestock went by the board. It was all the crew could do to keep their ves-el's head to the gale; beyond this, they were powerless to fight against it, and were unable to cope with the water which poured into the hold when the covers of the hatches were blown away. Some 300 odd Chinese passengers, washed out of their berths, were a source of trouble to the officers and crew of the ship. Terrified, they rushed- about the vessel. getting into everybody's way as they sought a hiding place from the fury of the gale. While on duty on deck, the ships carpenter, who was knocked down by a ware, had his leg broken, and a little later while the third officer, Mr. Price, was directing operations for the securing of the hatches, a heavy sel carried him with stunning force against the | winch. His back was badly strained, and he
received a number of minor injuries. six o'clock on Wednesday evening the force of the gale gradually abated, and the glass began to rise. Part of the ship's cargo was rice, and this when wet, emitted {1} most objectionable odour, and Captain McNair decided to returu to Hongkong to have it removed, and to have such damage as his vessel received repaired. This, however, owing to the skipper's prepared- ness for the storm and the able se manship and coolness in the hour of need displayed by his crew, was fortunately not much.
September 2nd. There were present: H-n. Mr. C. W. Dickson (Chairman), 3 r. A. Shaw (Manager). Mr. Brook Smith (Secretary), Sir C. P. Chater and Messrs. A. G. Wood, J. R. Michael, T. W. Hornby. Yuen Hop. Lo Cheung 48.988.71 Shin, Ho U. Shaug. Ming Kee, Wong Kun
Fong. Cheung Ming and Fok Kam Yim. 36.655,31
The notice convening the meeting having 5.796.31
been read by the SECRETARY, the CHAIRMAN 1,267.67 said,― Gentlemen, For the first five months of 2,180.59 the year covered by the s'atement now before you the company laboured under adverse con- ditions. the high cost of cotton not permitting of profitable spinning, and it was not until the end of November that it was possible to work full time, after having, on an average run three fourths of the spindles four 3.107.00 days per week for eleven months. To again get together the labour necessary to work full power was a tedious matter. and it was not until the end of March that the required number of operatives was secured. Many of these were unskilled and production has con- sequently ben indifferent, but it is anticipated that with cooler weather there will be a considerable improvement in this respect, as the recruits are gradually acquiring proficiency. There was a good demand for our yarus during the first half of the present year, and advantage was taken of it to dispose of the whole of our production to the end of December. buying simultaneously the requisite cotton at prices which show satisfactory margins. Since the publication оп 3rd July of the United States Agricultural Bureau's report indicat- ing a serious falling off in the condition of the American Crop as compared with 1904, speculation, the curse of the cotton spinning industry, has been rife, and assisted by the smaller area planted in America this season
· bulls have succeeded in rushing the price of American cotton up to a high level. Natural- ly Indian cotton, which interests us more, has 105.126.40 ! been affected, but I am glad to say not to the same extent. The outlook for the company is $678.022.60
at the moment not unpromising, aud wo may indulge in the hope that there may be a con. tinuance of years not worse than that which we are now discussing. I trust you will approve of the manner in which it is proposed to appro- priate the balance at credit of profit and loss account. your property is in first rate con- dition, and stands in the books at much below Before proposing the adoption replacing cost. of the report aud accounts, I shall be pleased to answer any questions relating to them that may be put.
In.975.89 3.424.55
3.2 0.00
548,975.78
To balance, to be appropriated as follows:-
To pay a dividend (of 10 per
cent.
To transfer to repairs and re-
$60,000.00
newals account
30,000.00
To written off
valu. of
to
•lectric installation To carry forward now
account
Cr.
By balance from 31st December."
1904
Less dividend at
10 per cent....$60.000.00
Les
transfer to
repaid and re.
newals account 10,000,00 Lees written off
furniture and
fixtures account 12,092.52
Less writtun off
steam launch.. 2,000.00 Less written off
electric instal- lation..
3,000,00
10.126.40
$88,876.58
By:rents of shops and offices. okt
1.228.74
-83.321.66
building
$8,115.00
By rents of shops and offices, now
building
2.287.50
By dividends on shares in public rom-
panies!
By scrip and transfer fees
3.554.02
10.402.50
No questions were asked and the CHAIRMAN moved the adoption of the report and accounts.
Mr. MICHAEL Secondled the motion. which
was carried.
Mr. HORNBY proposed and Mr. Lo CHEUNG SHIN seconded, the re-election of Sir Paul Chater and Mr. A. G. Wood as directors, Carried.
י
i
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·
FINANCES OF HONGKONG.
After
7
Was
The Hongkong Government has published a statement of accounts for the first four months of the present year. Beginning with a balance in
income hand of $326,413.17, the augmented by $2,071,547.83, exclusive of land amounted to $25,642.09. licences and internal sales, which realised $201,140.90. Light dues
revenues $1,572,653.73, Court fees 3137,502,71, Post Office $153.918.22, Government rents water, $21,671.83. The $132,694.25, and light dues were $598.61 more than in the corresponding period of the previous year. Licences, etc, realised 8219,081.01 more. Court fees showed an increase of $12 623.93; and the Post Office paid $7.760.11 extra, all well up to or outside of the estimates, Government rents showed a decrease of $24,930,58; and unless the succeeding months show better returns, the This obviously suggests that the bulk of these estimate will not be reached by five figures,
receipts are not due until the later months. Water receipts showed an increase of $1,564.27. The total increase (exclusive of land sales, which were increased by 881,876,45) amounted to $218,725.81. On the expenditure side, At Yaumati Bay on the 29th August Mr. G. pensions claimed $79,360.78 (an increase of P. Lammert, auctioneer, put up for sale by
$454.25, promising to exceed the estimate), public auction, the steam launch Yut Sum,
Governor $25,087,75 (an increase of $4,926.39, which is built of teak, Her length over all is but proportionately below estimate) Colonial 81 feet, breadth 13 feet and depth 7 feet, while Secretary's Department, $19,468,91 (decrease her gross tonnage is 55 tons. She can travel of $2,978,97) Post Office, $101,128.92 (decrease There were decreases of at a speed of 10 miles an hour, and in 24 hours of 87,128.92 ).
the Educational Department, consumes two tons of coal. Mr. Chung Shun | $1,756.55 in $10,000.00 Koo was the purchaser, the price paid being $8,299.08 in the Medical, $4,175.67 in the
$4,700.
Transport, and $31,717.36 in Public Work
524.50 - 24.00
By amount transferred from property ac
count being increase of value
548.975.78 By profit on hotel working account for the
sir months ending 30th June, 1905..... 114.540.90
$678.022.60
REPAIRS AND RENEWALS ACCOUNT.· For the Six Months ending 30th June, 1903. Dr.
To payments on account of repairs and renewals during the half-year ending 30th July, 1905
To balance
$ 8,192.08 1,807.92
It was proposed by Mr YUEN HOP, seconded by Mr. FOR KAM YM, and unanimously agreed that Mr. W. H. Potts be re-elected auditor.
The CHAIRMAN-That concludes the business. gentlemen. Dividend warrants will be ready on September 4th.
No comments yet.
Private notes are available after approval.