March 10, 1906.]
SHANGHAI COMPANIES.
The roport for 1905 of the Central Stores, Ld, which has an old paid-up capital of $73,506, and a new paid up capital of $191,985, shows a divisible balance, after writing off 84,500 to leasehold property account and $1,100 for bad and doubtful debts, of $19,119. It is proposed to pay a dividend of $2.4) per share on the 6,000 ordinary shares, equal to 20 per cent. for the year, and carry forward the balance, $4,719.
It has been decided to increase the capital of the Anglo-German Brewery On, to $600,000 Mex, by the creation of 2,000 additional shares of $100 each, ranking for dividend and in all other respects pari passu with the existing abares in the Company, 1,000 of these shares are to be offered in the first instance at par to the members of the company holding four or more shares, in proportion as nearly as may be to the number of shares beld by them respectively and upon the footing that the full amount of each share shall be paid to the Company on accept, ance of the offer. and that the Directors be empowered to dispose of the shares not taken in response to such offer, and of the remaining 1,000 additional shares at such time and in such manner as they consider expedient in the interests of the Company.
The report of the Taku Tag and Lighter Co., Ltd., for 1905 sbows a divisible lalanos, after the payment in July last of an interim dividend of 4 per cent., of Tls. 217,628. It is proposed to carry Tls. 110,000 to depreciation account and Tls. 20,000 to equalisation of dividends, to pay a final dividend of 4 per cent., making 8 per cent. for the year, and to carry forward the balance, Tls. 13,914.
The dividend paid by the Hotel des Colonies, Tientsin, for the year was 11 per cent., and Tls. 474 carried forward to next account. High praise-and a bonus of Tls. 400-was given to the general manager, Mr. Davies; and it was resolved to change the name of the company to that of "The Grand Hotel Co., Ltd." The new building will be ready early this sunimer;
Mr. Binks for Tls. 11,000.
CHINA OVERLAND TRADE REPORT.
(have a satisfactory account to present to you ⠀⠀ The acting secretary having read
twelve months hence There is nothing | calling the meeting, further, it occurs to me, to add with reference The CHAIRMAN said-Gentlemen, the to the accounts, but I shall be happy to reply and statement of the Company's accod to any questions appertaining to same which the past your having been in your hand
fortnight, I will now, subject to your any shareholder may wish to ask.
No questions were asked, and the CHAIRMAN adopt the usual course, and take them as
It is a matter of regret to the Board that proposed that the report and accounts as presented be adopted and passed.
year 1905 did not turn out as favourably tion was ag eed to unanimously.
Captain CLARKE seconded, and the proposi-expected after the promising balance.
The CHAIRMAN -That is all the business, gentlemen. Dividend warrants will be ready at ten o'clock to-morrow. I thank you for your attendance.
Mr. WICKHAM-Before we part I should like to propose a vote of thanks to the general managers and the staff for the way in which they have carried on the business of the company not only for this but in previous years. under- stand the secretary is shortly leaving us for home, and I am sure I am only voicing the good wishes of the shareholders in proposing a vote of thanks to him for his able services
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| 8260,374.35 carried forward at the end of or
year, but we were unfortunate enough to 1 to meet exceptionally heavy claims to the extent of $151,220.61 on our unexpired risks during 1905, so that the year has only
in
profit of $131,448.29. This passN
The CHAIRMAN moved, and Mr. LEIRIA seconded, that Sir Paul Chater and Messrs, White, Maitland and Raymond be re elected to serve on the consulting committee. Carried.
Mosers. W. H. Potte and T. Arnold were re- elected auditors, on the motion of the CHAIR-enables us to pay our usual dividend of $6 per MAN, seconded by Mr. MosrS,
share, and tó transfer $13,443,29 to the Extra Reserve Fund. Your Directors regret that they are unable to recommend the bonus of $1 per share as distributed last year, but this can only be expected when results are exceptionally favou rable. Turning now to the Working Account of 1905, it is pleasant to be able to report that the sum of $344,098.98 is the largest that has teen carried forward since the inception of the Company, and with ordinary good fortune we have every reason to hope for a much better ont-turn than the previous year showed. Both Premium and Interest Accounts show increases, and with regard to the former this is especially satis factory, as at the end of last year we closed down a part of our London business which was proving unprofitable. Losses during the year were about the average, but this is chiefly dus to the unfortunate conflagration in Cebu in March last by which we suffered considerably. The Companies surveyors have reported upon the properties in Hongkong under mortgage to us, and the Board are perfectly satisfied with the security in each instance. I am sorry to say that Mr. G. L. Tomlim has had to go home on sick leave, and I am sure that you will all join me in wishing him a speedy recovery. These are all the remarks I think you will · expect from
gentlemen, and I will therefore conclude by moving that the Directors' Report and Statement of Accounts for the year 1905, as presented, be adopted." After this has been seconded, I shall be happy to reply to any questions that may be put relating to the business before the meeting.
during the years he has been connected with the Company, and wishing him a happy and prosperous time in his retirement (applause).
The CHAIRMAN-I am glad to have the opportunity of endorsing the appreciative remarks which have fallen from Mr. Wickham as regards the services of Mr. Veitob, who wa regret is leaving us after a very long connec- tion with the Company.
Mr. VEITCH-Gentlemen, I am very much obliged for the kind words spoken in apprecia- tion of my services. You have my best wishes, and I trust the Company will have many, many years of prosperity,
GREEN ISLAND CEMENT CO.
An extraordinary general meeting of this and the Peitaiho Hotel is to be purchased from Company was held at the office in St. George's Building on the 7th March. The Hoo. Mr. R. Shewan occupied the obair, and there were present-Messrs. A. Babington, A. G. Somer- ville, T. Hough, P. C. Potta, E. J. Moses, Captain Clarke, G. Murray Bain, with the
COMPANY MEETINGS. THE HONGKONG FIRE INSURANCE CO., LTD.
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secretary, Mr. R. Henderson.
The special business was to pass the special resolution which was read by the Secretary as follows:-
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The thirly-seventh ordinary general meeting of this Company was held at the office of the That the capital of the Company be increas. general managers, Kings Buildings, on the ed to $2,000,000 by the creation and issue of 7th March. Hon. Mr. C. W. Dickson presided, 50,000 new shares of $10 each fully paid up to and there were also present-Sir Paul Chater, be offered at por and if accepted to be allotted to C.M.G., Messrs. H. P. White, F. Maitland the persons constituting the shareholders of the (consulting committee), G. T. Veitch (secretary, Company according to the Company's register C. N. Young, J. J. Leiria, S. H. Michael, Loof shareholders on the first day of July, 1906, Chiu-shiu, E. J. Moses, W. H. Wickham, Ho Fook, Wong Leung-him and Captain W. E. Clarke.
The notice convening the meeting having been read,
The CHAIRMAN said:-Gentlemen,-The report aud accounts having been in your hands for some days, with your permission we will take them as read. Until within a few days of the closing of the account we had hoped to show a very much better result for 1905, but unfortun. ately by the occurrence of a serious fire in Ceylon, the aspect of the account was completely changed and the amount available for "distri bution amongst shareholders greatly reduced. You will have observed that the item under the bead of Japanese Government deposit stand in the balance sheet at $111,200 against $122,479.59 in the previous year. It was recom- mended by the auditors that these bonds should be written down to their redeemable value at par of exobange, and this has been done, the difference being debited to exohange able to report that our Eurveyors are perfectly satisfied that all nortgages show ample margin against the sums ced. As regards the 1905 account, he balance shown at credit is the largest in the history of the Company, and if only standing risks continue to run off with no more than an average of losses, we should
account.
am
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in the proportion of one new share for every three old shares in the Company held by the respective shareholders thereof, the amount
pay. able on each of such new shares to be paid or the 31st day of July, 1906, and that failing such allotment as aforesaid the said new shares be disposed of by the general managers in accordance with the Company's articles of association."
me.
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This was seconded by Mr. ORANGE, and approved.
On the motion of Mr. SAUNDERS, seconded by Captain GODDARD, the Hon. Mr. R. Shewan and Mr. N. A. Siebs were re-elected directors.
The auditors, Messrs. W. H. Potis and A.R. Lowe, were re-appointed on the motion of Mr. A. O. AFCAB, seconded by Mr. FORBES.
The CHAIRMAN-That is all the business, gentlemen. Thank you for your attendance Dividend warrants will be posted this afternoon
· SHIPPING NOTES.
While the Russian steamer Jupiter, which arrived from Odessa, was being 'berthed at Borneo Wharf, Singapore, recently a collision occurred between her and the German mail steamer Bayern, which was lying at section eight. The Jupiter was being taken into her berth astera of the Bayern by Pilot Stovell, when she did not go astern at a The CHAIRMAN--I propose that.
critical moment though the pilot gave the order Mr. HOUGH-I second it. Comment is ab- to put the engines astern. The Jupiter swung solutely unnecessary,
The motion was agreed to.
The CHAIRMAN-The next meeting for the confirmation of the resolution will be held on 24th March. We have to keep an interval of fourteen days by liw.
This was all the business.
up against the mail steamer and her port anchor tore away the starboard stanchions and ten feet of the Bayern's rail, but beyond this nothing serious was done and the Jupiter was eventually safely berthed. The Jupiter, which is bound for Vladivostock with a general cargo, , only called at Singapore for provisions and 500 tons of coal. It will be remembered she was one of
THE CHINA FIRE INSURANCE CO. the vessels which accompanied the ill-fated
The 37th ordinary meeting of shareholders in this Company was held on Mar. 8 at the offices, 8, Queen's Road, Mr. A. G. Wood presided, and there were present-Hon. Mr. R. Shewan, Messrs. N. A. Siebs, A. Haupt, H. W. Slade, E. Shellim, E. Goets (directors), A. O. Apcar, W. J. Saunders, A. Forbes, Captain Goddard, J. J. Leiria, A, H. M. da Silva, Chan Pat, W. H. T. Davis, with the acting secretary, Mr. C. Pem bertou
Baltic armada.
Last week, says the Japan Chronicle of the 27th ult.. the western department of the Japan Steamship Owners' Association held meetings. in Osaka and considered a proposal to incorpor ate themselves into one company. The pr was unanimously supported, and the mem present represented about 80,000 tons. will total 180,000 tons when the steamers owned by the members of the eastern department of
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