G
242
The business continues steady and there is every probability that a similar result may be lo oked forward to.
The accounts have been audited by Mr. A. O.D.“ Gourdio, who offers himself for re-election.
3
J. W. OSBORNE,
Chairman.
BALANCE SHEET.
ASSETS.
THE HONGKONG WEEKLY PRESS AND
|
difficulty was experienced in marketing pro- duction, the universal decline in sugar leading to importations with which the company had to compete at low prices. Eventually, how ever, accumulated stock was disposed of though not profitably, and the result for the year is an addition to the amount at debit of | profit and loss of $26,692.47, this including $17,983 expended in putting the refinery in order prior to its re-starting. Such a result is disappointing, as it was hoped to at least cover | expenses. With the lower prices now current
for raw, there is room for expectation that this, | 4,745,68 if nothing more, may yet be attained; at all 3,767.47 events we have decided to try further. The general agents have again waived their com. 5,500.00 mission, and the members of the consulting 576.10 committee their fees. With these remarks, gentlemen, I beg to propose that the report and accounts be adopted.
To stock-value of stock on hand ...$ 15,501,52 To accounts receivable due from
customers
To cash-amount on hand
To fixed deposit-with Chartered Bank of I. A. and China...
To fixtures and furniture... To Insurance account-unexpired premium paid in advance.....
Q
LIABILITIES.
By capital-1,200 shares paid up at
$10 each
By accounts payable due to Sundry
Creditors
...
By Chartered Bank-in current
account
By reserve fund.......
By unclaimed dividends and bonus... By balance at credit of profit & loss
WORKING ACCOUNT.
To charges
***
To wages
To reserve fund-As passed at meet-
ing 31st Dec., 1905
14.67
Mr. GASKELL seconded, and the motion was
$30,105 44 | sarried.
$ 12,000.00
To dividend-30 per cent.. passed at
meeting 31st Dec.. 1905′′
To directors' fees...
To fixtures and furniture
To auditor's fee
To rent
To insurance
To stationery
To interest
To doubtful debts
To balance
By balance brought forward from last
account
By interest
1,199.00
On the motion of Mr. PETER, seconded by Mr. MICHAEL, Messrs. A. G. Wood and H. P. White were re-elected to the Consulting
Committee.
Mr. Thomas Arnold was re-elected anditor on the motion of CAPTAIN TILLETT, seconded by 2,272,97 | Mr. Moses. 8,000.00
The CHAIRMAN- That concludes the busi.
The report reads :
[April 2, 1906. forward from last accounts, amount to Yen 10,532,084,048, of which Yen 213,968,710 have been deducted for current expenses, interests, etc., leaving a balance of Yen 3,318,115.338
The directors now propose that Yen 360,000,000 be added to the reserve fond, raising it to Yen 10,360,000. 00, Yen 1,000,000,000 be appro. priated as special reserve fund, newly created, and Yen 200,000.000 be placed to the silver funds. From the remainder the directors recommend a dividend at the rate of twelve per cent. per annum, which will absorb Yen 720,000.000 on old shares and Yen 360,000,000 new shares, making a total of Yen 1,080,0. 0 000,
The balance, Yen 678,115,338, will be carried forward to the credit of next account.
NAGATANE SOмa, Chairman.
SHANGHAI ICE, COLD STORAGE, AND REFRIGERATION CO., LTD.
on
The report of the directors for the year ended 30th November, 1905, for presentation at the forthcoming seventh ordinary meeting of share- holders, includes the following statements:---
The balance at the credit of Profit and Loss Account, after providing for Tls. 18,501.32 Depreciation, is Tls. 21,991,16, and from this amount there are Directors' and Auditor's fees
21,141,16, out of which it is proposed to pay a dividend of 8 per cent., absorbing Tls. 16,000 and to carry forward the balance of Tls. 5,141.16. The balance at the credit of Working Account is Tls. 30,574.22, which is again an increase on that of the previous year.
60.30 ness. I am obliged to you for your attendance, to be deducted, leaving a balance of Tls. 6,573.17 gentlemen.
$30,105,44
$ 2,685.60 10,564,32
The general agents beg to submit their report on the Company's business for the year 105, with a statement of accounts to 31st December last.
In accordance with what pass d at the annual 2,500.00 | general meeting held 23rd March, 1905, work war commenced at Malabon at the beginning 3,600.00 | of April.
600.00 The decline in the value of sugar all over 289.15 the world adversely affected the prices obtain- 300.00 | able for refined in Manila, and the loss on 4,736,00 working, including $17,983.000 expenses in- 50 50 curred in re-starting the refinery, amounts 214.92 to $26,962.47, increasing the sum at debit of
57.32 profit and loss account to $132,588.10. 860,12 6,473.17 This consists of Messrs. A. G. Wood and H. P. White, who offer themselves for $33,041.11 | re-election.
CONSULTING COMMITTEE
AUDITOR.
...$ 8,171.74 The accounts have been audited by Mr. 83.80 Thomas Arnold, who offers himself for re- By amount written off, since collected 3.50 | election. By sales and shop returns...832,017.96
Less cost of stock
By transfer fees
E
To balance 31st December,
r
7,236.44
24,781.52
75
333,041.11 $ 8 000.00
By balance 31st December, 1904....... By added as per resolution passed
31st March, 1905
***
$8,000.00 $5,50 1.00
JARDINE, MAtheson & Co.,
General Agents. CAPITAL ACCOUNT.
Liabilities.
Capital account. Jardine, Matheson & Co.'s current
account Sundry creditors
Assets.
2,500.00 Property account
Hongkong and Shanghai Bank $3,000.00 | Cash in hand
Sundry Debtors... Refined sugar, &c. | Coal, charecal, stores, &c...
LÜZON SUGAR REFINING CO., LTD.
The 24th annual general meeting of the above company was held at the office of the general Profit and loss account agents, Messrs. Jardine, Matheson & Co., on March 31st. The Hon. C. W. Dickson presided, and there were also present-Messrs. H. P. White, A. G. Wood, E. J. Moses, W. H. Gaskell, A. Rumjahn, J. R. Michael, J. C. Peter, P. Tester, J. M. Graca, Capt. Tillett, and J. Bow. den (secretary).
The Secretary having read the notice con. vening the meeting,
4
The CHAIRMAN said-Gentlemen, -I regret that owing to the late arrival of accounts from Manila the report for last year was not in your hands earlier, but you will probably concur nevertheless in its being taken as read. Under the Company's Articles of Association it is necessary to hold the annual general meeting by the 31st Mareb, or more time would have been allowed since its issue. After being stopped for several years, work at the refinery was resumed at the beginning of April under airoumstances which were mentioned at the last annual meeting, but it was not long before
+
The receipts from Cold Storage show a decided improvement on last year's earnings and the Directors were fully justified in the additional accommodation made last year.
Still further additions are in course of progress and the Directors trust that these will be available for the coming summer.
CHINA IMPORT AND EXPORT LUMBER CO., LD.
The fourth annual meeting of shareholders in the China Import and Export Lumber Co., Ltd., was held at Shanghai on March 21st, when the usual resolutions were all carried unanimous. ly. The ten per cent. dividend we have already announced. We make the following extracts from the chairman's address :-
The report when compared with the thres previous reports that have been issued since the- formation of the Company, shows at a glance s rapid and prosperous development of our business. In 1902/3 the balance of profit. $700,000.00 | amounted to Tls. 22,417.63, in 1903/4 to Tls. 26,439.90, in 1904/5 to Tls. 32,894.21, and for 185.180.32 1905/6 to Tls. 44,2 3.77. These increased pro- 4,839.93 fits mean a very much larger business done upon a but slightly increased capital; for during the $890,020.25 past year we have issued only 720 shares at par,
raising the paid up capital from Tis. 278,000. to. ...8629,642,43 | Tls. 350,000. It will be observed from the 35,031.83 Balance Sheet that sundry debtors stand about 309,85 ls. 100,000 higher than last year, whilst also 28,061.59 the debit-balance at the Deutsch Asiatische 35,673.04 Bank is Tls. 186,000 larger than then. The 28,713.41 stock of lumber also shows a much larger investment. I am pleased to be able to inform $757,432.15 yon that the Bank has hitherto granted all the 132,588.10 facilities we have required, but in view of the probable continued growth of our business your $890,020.25 Directors deem it desirable to issue before long the 1,500 remaining shares, timely notice ...$ 85.987.63 whereof will be given. In the meantime pay. 26,692 47 ment for recent sales, amounting to about Tis. 12,028.94 109,000, will be coming in shortly and will go 814.24 to reduce the overdraft. A further instalment 7,014.82 has been paid on our lumber yard property of 50.00 | Tls. 6,600, making the total payments on this account, shown in the Balance Sheet, Tls. 8132,588.10| 21,019.84. The new buildings erected in our $132,588.10 lumber yard at Shanghai during the past year consisting of offices with accommodation for $132,588,10 | our sawmill engineer and family, and with
commodious attics, also extensive sheds cover plauka, 80 08
to promote seasoning, and the buildings covering sawmill, have been put up at Tls. 24,539.55; this amount also include the digging out of a large pond, the filling in of the property, the construction of a reservoir to supply water to the sawmill boilers, eto, eto,
PROFIT AND LOSS ACCOUNT.
To balance from last year To loss on working To interest
To depreciation of sto es .. Lo loss in exchange To auditor's foe
By balance
YOKOHAMA SPECIE BANK, LIMITED.
The 52nd report to the shareholders of this Bank reads as follows :-
The gross profits of the Bank for the past half-year, including Yen 609,720.708 brought
No comments yet.
Private notes are available after approval.