*
November 18, 1905.]
which must come before the head of this Court. Again, on behalf of the Bar and of the British community here and everyone in Shanghai, I beg to congratulate your Lordship.
His Lordship replied-Mr. Crown Advocate and gentlemen of the Bar. I felt that one of the most prized results of the honour which His Majesty has been graciously pleased to confer upon me, is that the members of this community -particularly the members of the Bar-should | rejoice with me on what has befallen me. I feel that to be the head of this Court is, in itself, a great honour. The fact that His Majesty has conferred a further honour upon mo I feel is due to my position as bead of this Court, which my experience shows me is as important a Court as any o it of His Majesty's dominions at home. I can hardly believe any Colonial Court, save perhaps those of our semi-independent colonies, is of any more importance than th ́s, and I shall certainly strive, so long as I have the honour to preside here, to do all that may be required of the president of the Court and in the interests of the administration of British justice in the Far East. I thank you, gentlemen.
The business of the day then proceeded.
MURDER OF FRENCH MISSIONARIES.
The Yunnan correspondent of the N-C Daily News writes on October 10:-
The Chinese officials are having some lively experiences with the Tibetan uprising in the north-west of the Province.
CHINA OVERLAND TRADE REPORT.
COMPANIES.
THE INTERNATIONAL COTTON
MANUFACTURING CO., LD.
The Report to be presented at the Tenth Annual Meeting of Shareholders to be held on 14th November, reads :-
|
The directors have now the pleasure to submit to the shareholders, the andited accounts of the company for the year ended 30th of September, 19 5.
Conditions geuerally have been favourable for the spinning industry. An ample supply of cotton at reasonable rates and a good demand for yarn, with excellent working at the mill, have combined to make this the best year the company has had since it commenced operations.
Profit and loss account, Including the balance brought forward from last year of Tls. 13,629 29 there is a sum of Tls. 152,727.27 at the credit of this account, which would be quite sufficient to pay a dividend if other conditions were favourable; but it will be seen that the company still owes the Russo-Chinese Bank a large amount, and until this is liquidated your directors consider that the interests of the company will be served by not attempting to pay dividends, and they propose to dispose of the above balance as follows:-- Write off plant and machinery
mill buildings Chinese houses mill stores ginning mill
41
Place to reserve
Cr.
355
By balance 30th September, 1904.. Tls. 13,629.29 By transfer fees
By working account By accrued interest Debenture
Trust Fund..
18.29 173,564.24
2,372.95
Tls. 189,584.77
THE DAIRY FARM COMPANY, LIMITED.
The report for presentation to shareholders at the ninth ordinary general meeting, to be held at the Company's Depôt, Wyndham Street on the 23rd November, reads as follows:-
The directors herewith present to the share- holders a statement of the company's accounts for the year ended 31st July, 1905.
The profit for the year, after writing off $5,708.24 for depreciation and bad debts, and providing for directors' and auditor's fees, amounts to $57,864.34, from which it is proposed to pay a dividend of one dollar and twenty cents per share, absorbing $30,000; to transfer to cattle reserve $25,000, and carry forward $2,864.34.
Capital. In accordance with the resolution passed at our last meeting the capital of the company has been increased to $150,000 by capitalizing $90,000 as set forth in the accounts.
Frozen Food Supply.-In September last The Hongkong Frozen Food Supply was taken over from Messrs. Butterfield & Swire. The results .Tls. 50,000.00 | of the eleven months' operations have not been
17,805.20 encouraging but, in anticipation of further 5.416.20 public interest and support, the directors hope 5,787.21 to be able to continue and develop, as heretofore, 5,000.00 this important bran h of the company's business., 50,000.0) Directors.-Messrs. Maitland and Hind retire
by rotation but are eligible for re-election.
Auditor. The annexed accounts have been audited by Mr. W. Hatton Potts who offers himself for re-election at this meeting.
J. W. NOBLE,
18,718 86
Tis. 152,727,47 Debenture account.-Iu accordance with the conditions under which these were issued, 25 per cent. of the net profit has to be paid to the trustees to form a fund for their redemption. As will be seen from the accounts, the sum at credit of Denbenture Trust Fund is Tls. 37,600.00; adding Tis 34,181.31, 25 per cent. of net profit of year just closed, there will Capital,
be a total of Tis. 71,781.31 at the credit of this fund, while out of a proposed issue of Tls. 500,000.00 debentures, only Tls. 134,000.00 have so far been taken up. With the improved finances of the company, it is thought the balance of these debentures may be placed, as they form an excellent investment, otherwise steps will be taken to pay off all those issued, as soon as possible (the earliest date being 31st of March, 1907).
Prospects for the current year are favourable, and your directors have been able to dispose of the mill's production for some months ahead at prices that should show a satisfactory margin if nothing unusual takes place. The mill generally is in excellent order, and the com- pany's yarn ranks in the market with the best produced loally.
A lot of soldiers were sent from Batang in Szechuan to hold Atentze, which lies between the upper Yangtze and the Mekong. The Carry to new account Tibetaus surrounded the place. If the Chinese at first had taken the offensive they would probably have won. Instead of that they tried hard to feather their nests by getting bribes and money from the enemy. This suited the Tibetans and they readily paid up, knowing they would get all back again. The upshot was that Atentze was captured and the Imperial troops annihilated. A few days south of this, a Tsekou, is a Catholic Mission station in charge of two French Priests. The priests had incurred the enmity of the lamas by open- ing a kind of rival pawnshop. People who wished to raise money bad mortgaged or sold at ruinous rates their family treasures to the lamas. The fathers came to the help of the people and by a more liberal policy almost destroyed the monopoly of the usurers. This sealed the fate of the Frenchmen. As long as Atentze held out the mission was safe, the lamas in the neighbourhood not daring to rise. As soon as the Chinese troops were annihilated a swift messenger returned to the priests and they set about building defences aud preparing for a siege. It was, however, too late. The lamas in the neighbourhood rose up, overwhelmed the mission, beheaded the two fathers and sent their hearts as trophies to Batang. An Englishman, Mr. E. Forrest, collecting botanical specimens, had been the guest of the priests. Fortunately after almost miraculous escapes he got to a place of safety. The Tibetans knew there were three foreigners at Teskou and, having only caught two of them, they hunted for the third. Even women and children joined in the chase. To get to a friendly tribe Mr. Forrest bad to cross à range of hills by night. The Tibetans with their camp fires and fierce dogs forestalled him and every time be wearily went up in the dark he failed to get through. On two or three occasions armed men searching for him passed within a few yards of his hiding- place but always failed to find him. At the end of more than a week's hunger and danger the fugitive came to a house and asked for food. Here he found friends who gave him a hearty meal of tsaupa which almost succeeded in do- ing what the hunters longed to do. By the aid of these friendly Tibetans Mr. Forrest manag- ed to elude his pursuers and, worn out and very ill, he at last reached Talifu where the kindness, of Dr. Clarke and his companions of the China Inland Mission did much to make him well and strong. The magnificent collection of speci- mens worth many hundreds of pounds was totally destroyed.
Accounts are as follows:-
BALANCE SHEET. 31st July, 1905.
LIABILITIES.
Chairman.
Ás last account 10,000
per shares at $7.50 each.. $75,000 Less $1.50 per share not
called up...
15,000
-$60,000 Transfer from reserve fund, pro- fit and loss and working ac- counts, and amounts written up value of cattle and stock, as authorised by the special resolu. tions passed at the extraordinary general meeting held on 10th Nov., and 1st December, 1904 90,001, equalling value of 15,000 shares at $7.50 each less $1.50 per share not called up,
Dividends uncollected Accounts payablo Balance of profit and loss account..
Cattle
Buildings and property
Less written off
Directors.-Messrs. J. L. Scott and C. Rayner resigned their seats on the board upon their departure from Shanghai, and their places were filled by Messrs. F. Ayscough and M. March, whose election it is necessary to confirm. Mr. Poate retires by rotation but, being eligible, Furniture, machinery and stores 3,278.30
offers himself for re-election.
Less written off
$
U.
150,000,00
ASSETS.
294.20 37,340.46 57,864.34
$245,499.00 $ C. 61,174.29
$50,126.16 3,126.16
47,000.00
278.30
3,000.00
8,397.00 38,101.30
$6,850.00 1,850.00
5,000.00
39,604.41 $5,222.01
$245,499.00
C.
Cash in hand and at bank..
Auditor. Mr. Arthur R. Leske, C. A., audited the accounts now presented and offers Share investments and mortgages himself for re-election.
Steam lauvch
Loss written off..
W. H. POATE,
Chairman.
Accounts receivable Stocks on hand
PROFIT AND LOSS ACCOUNT.
As on 30th September, 1905.
Dr.
To interest account...Tls. 36,495.57
Loss---
Renton Chin se houses 4,488.27
To directors' fees To auditor's fees To balance brought forward 30th Sep- tember, 1904 Profit 30th Sep.
tember, 1905
1
.Tls. 13,829.29
139,098.18
-Tls. 32,007 30 4,500.00 350.00
PROFIT AND LOSS ACCOUNT. Dec. 5th, 1904.
Dr.
To transferred to capital account as per resolutions passed at extraordinary general meetings held 10th November and 1st December, 1904.....
July 31st, 1905.
To directors' and auditor's fees To writen off :--
Steam launch
Funiture, &c. Buildings
Bad debts
152,727.47 To balance.
Tls, 189,584.77
34,760.77
2,600.00
$1,850.60
278.30
3,126.18
453.78
5,708.24
57,864.34
$100.888.35
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