204
-PROFIT AND LOSS ACCOUNT. To commission
$ 83,788.47
To remuneration to Consulting
***
604
2.500,00
Committee
To auditors' fees
ANG
To interim dividend at$10 per share paid August 18th, 1905...
1
To net balange...
THE HONGKONG WEEKLY PRESS AND
PROFIT AND 1088 ACCOUNT. LOSSES.
Bills receivable, lonas and
| March 18.-
advances...
2,125,556%
Bills for collection receivable and
P 59,619.69 branch balancOS
2,579,99 Furniture 5,063.89
...
***
...
404
**A
'务
358,097 .05) (10,000,00
Balance carried forward at 31st De
750.00 Fire insurance
cember, 1934
Interest
87,038.47 Management, salaries and charges
in Manila
200,000.00 | Exchange
287,038.47
...
Carriage factory
Bonus and commissions
1,205,419.68 | Licenses and taxes...
Lawyers' fees...
*14
...
Total $3,404,741,58
23,575,66 PROfit and Loss ACCOUNT FOR THE YRAI
ENDED 31ST DECEMBER, 1905.
10.47
2,087.20 Charges, directors' fees, salaries, etc.$118,337.82- 1,301.50 | Amount to write off furni-
•
་་་
...
2,197.72
946.49 Amount to be placed to 805.03
ture sccount
$10,000,00
$1,492,458,15 | Advertising
By balence brought forward from
Losses on consignments
last year
8 42,812,75
By gain on working
1,447,751.98
By interest
1,893.42
PROFITS.
ospital reserve fund .... 12,731.20 1,109.42 | Amount to be transferred
to reserve fund... 90,088.80 P 89,297.06 Balance to be carried for-
ward to next account 74,099.94
$1,492,458.15
Manufacturing and working profits P 57,227.08 Commissions
1,324.44 Bad debts recovered Balance
*186,9:9,94
100
220.66 34,324,90 | Balance brought forward from last
Total...
8305,257.76-
*
year
.:$ 41,768.26
P 93,297.06
Gross earnings for year ending Alst
December, 1905...
་་་་
269,498.50
Total...
$905,257.76
PHILIPPINE COMPANY, LIMITED.
The report of the board of directors to b presented at the third ordinary general meeting of shareholders to be held at the office of the above Company, No. 100, Calle Anloague, Manila, at 3.30 p.m., on Thursday, the 15th March, 1906, is as follows :---
Gentlemen,-The local agents now beg to sabmit their report of the Company's business for the year 1905. You will be pleased to see that the accounts are considerably better than those presented at our last meeting and the heavy debit balance then carried forward has been much reduced. Salaries and charges in Manila are lower in proportion by some £2,000 and the present year will show another heavy reduction.
Your late manager, Mr. Wright, having re- tired from the Company, we have agreed to accept less than half the amount provided by Articles of Association for the general managers and this will effect a further saving of some P6,000. Outside Manila there are no management or agency charges whatever, nor have been since the incorporation of the companies. Due to clearance of old stocks of tobacco, etc., we wish to point out a saving under interest account of some P7,00. Early in the year under review we purchased new cigarette machinery with the result that this branch of your business has very largely increased, and we may mention that January sales showed a record for this department. We hope this year will show a further steady increase. The machines are now ran by electric power, and it is not only a saving in expense but is an improvement in many ways. The Giralda has been leased for all the time under review. We had some trouble with our lessees of the carriage factory and being unable to re-let the premises, came to an arrangement with the owners by which they took the buildings at a valuation and cancelled remainder of our lease. This account will now disappear from our books. We look forward with confidence to the present year and¦ trust when we next meet to show you a satisfactory report.
THE NATIONAL BANK OF CHINA.
The report of the directors to the fifteenth ordinary annual general meeting of shareholders to be held on April 14th, reads :— -Gentlemen, The directors have now the pleasure to sub. mit to you the accounts and balance sheet for year ending 31st December, 1905.
The gross profits, including 841.768.26 brought forward from last year, are $305,257.76, which, aft r deducting all charges and making an allowance for Bd and Doubtful Debts, leave a Net Profit of $186,919.94, which the directors propose to deal with as follows:- Write off furniture account $10,000.00, place to Capital Reserve Fund $12,791.20 (bringing this up to £12,735 at 1s 8d to the dollar), transfer to Reserve Fund 890 088.80, and the balance of $74,099 94 to be carried forward to next account.
The board have decided, in accordance with the wishes of a large majority of the sbare holders, to continue the Exchange business of the bank. It is the intention of the board to build up the reset ves of the bank until they amount to $600,000, and until this end has been reached, they will not recommend the declaration of any dividen J,
Mr. Kwan Fong Kuk resigned his seat on the board, Mr. Reginald Harding took his place and has since resigned. The board do not at present propose anyone to fill his seat.
The Right Honourable C. B. Stuart Wortley, K.C., M.P., retires in rotation from the London Committee, and Mr. Ewens from the Hongkong Board, but being eligible, offer
themseves for re-election,
The accounts at Head Office have been audited by Mr. A. R. Lowe, chartered accountant, and Mr. E. A. M. Williams, A. 8 A. A. (of the firm of Messrs. Lowe and Bingham).
Messrs. Deloitte, Plender, Griffiths & Co.,
On 1st January, 1906, the ospital and reserve funds will stand as follows:- Capital
£202,285 (at la. 8d. to the $). Capital to reserve fund... £12,735
(at ls. 8d. to the $).... Reserve fund $150,0 0 £15,351
(at 28. 0d. to the 8)
***
$2,427,180.0)
132,820.00
150,000.00
Total... ‚£230,351-82,750,000,00 -
SHANGHAI DIVIDENDS.
Messrs. Benjamin, Kelly and Potta, were informed by wire on Mar. 18, that the Shanghai and Hongkow Wharf Company, Limited, had declared a final dividend of 'I'ls. 8, making Tls. 14 per share for 1905; and that the Shanghai` Wabirworks Company, Limited, has declared a final dividend of 37/6, making 52/6 per share for 1905.
The N.-C. Daily News understands that it is the intention of the Directors of the Shanghai Waterworks Co., Ltd., to recommend at the next sanusl meeting to be held on the 28th insta final dividend of thirty-seven shillings and sixpence (37s. 6d.) per share at the exchange of 28. 9jd. for the past year.
The report of the Weihaiwei Land and Building Co., Ltd., for 1905 shows a credit balance in profit and loss account of Tis. 1,224, of which no disposition is suggested. The pro- fit on working account was Tls. 3,408, the difference having been written off furniture and building accounts.
COMPANY MEETINGS. CHINA TRADERS' INSURANCE CO., .
LTD.
An extraordinary meeting of shareholders in
l'irectors. Your directors retire, ard Messrs chartered accountants, audited the London this Company was held at the Company's Omoes, B. Toovey and R. E. Humphreys offer them-accounts. selves for re-election. Mr. Sloan, not wishing to serve another term, we propose Mr. E. E. White to take his place.
THE PHILIPPINE CO., LTD. HOLLIDAY, WISE & Co.,
Local Agents
BALANCE SHEET FOB THE YEAR ENDING
31ST DECEMBER, 19.5.
Liabilities.
Capital
Sundry creditors
Loan Hongkong Bank....
Assets.
Subscription account 1 share
Land and buildings
Goodwill and Trade Marks Plant and stocks
Furniture...
Machinery
...
Cash in hand and at bankers
Fire insurance in advance
Sundry.debtors
Balance
***
**
***
404
MEN
Your Obedient Servant,
C. EWENS, Chairmin.
BALANCE SHnet, 81st DECEMBER 1905.
LIA BILITIES.
Authorised capital :-
99,925 Ordinary shares of £7 emoh £699/475 Issued ospital (at ls. 8d. to the $) :— 40,453 ordinary shares of £7 95 339.41 each, £5 paid up, £202,265 ...
7,678.43 | Capital reserve fund
Reserve fund.......
P 608,108.11
P 711,120 95 | Notes in circulation
P
accounta
Fixed deposits and everent 9.10 194,219.20 | Bills for collection and brauch 229,357.79
balances ... 115,961,24 | Drafts, acceptance and endor- 17,056,65 sements (bills re-discounted) 40,421,46 | Balance of profit and loss account
3,698,97
Queen's Buildings on the 10th March,. There were present Messrs. H. W. Blade (chair- man), A. Haupt, E. Goets, A. B. Linton, C.-B. Lensmann (directors), J. Whittall (secretary), G. T. Veitch, W. J. Saunders, C. M. G. Burnie, A. B. Rouse, A. Ough, W, H. T. Davis and E. H. Ray.
The notice convening the meeting having been read,
The CHAIRMAN mid-Gentlemen,« $2,427,180.00 | objent of this meeting is to confirm the spoola
140,088.80 resolutions passed at an extraordinary`gomer
59,911.20 meeting held on the 16th February. I beg 69,965.00
therefore to move that resolution No. I which reads as follows, be confirmed :---
386,585.89
54,141 04
That the Articles of Association of the Company be altered in the fellowing manner "The following Article shall be substituted Article 130, namely:-130. The Board, throu 79,949.71 | ita Secretary, shall make Yearly Stateme 186,919,94 the Accounts of the Company from the
of January to the S1st day of Decemb Total $3,404,741.58 and every year, which shall be duly and presented to the Shareholdern, at # 209,663.42 | the Ordinary Meetings of the Com
together with a Report on the gen
1.417.36 74,654 98
LA SANTE. 34.324.90 | Cash on hand and at bankers
Government monrities (£31,050
at 2/0-9/16)
P 711,120.95
160
4
303,$89,31 of tho Company.”
177
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