THE HONGKONG WEEKLY PRESS AND
823
Cr.
6.
Reserve fund to meet
By net profit on working
By sorip and transfer fees
113,806.71 20.75
contingencies or for
$113,827.46
the equalization of dividends
25,000.00
-$1,225,000.00
PROFIT AND LOSS ACCOUNT.
Dr.
To amount available for appropriation 103,244.69
*14
$103,244,69
Local and general liabilities in the East
and in America ...$139,682.13 Local and general
liabilities in London 55,286.72
Cr.
By amount of undivided profit, as por last
account
By balance of working account brought
down
2,151.12
101,093.57
Mortgage on section E
of Inland lot No. 19 and the buildings thereon
...$ 48,000.00
$103,244.65 Mortgage on Marine lot No. 2 C and the buildings thereon 125,000.00 Mortgage on remaining
A. S. WATSON AND CO., LIMITED.
The report of the general managers for the year ending 31st December, 1905, for presenta tion to the shareholders at the twenty-first annual ordinary general meeting of the com- pany since its registration to be held at the offices of the company in Alexandra Buildings on Saturday, 12th May:-
portion of Kowloon Inland lot No. 550 and the buildings thereon
Advance against san
Jacinto property, Manila
25,000.00
18,697,58
Bills payable, Hongkong and
Manila... Unclaimed dividends
Gentlemen, We beg to lay before you a statement of the company's business, with a balance sheet for the year ending the 31st Security Deposits from Staff December, 1905.
The net profits of the company for the twelve months under review.
after paying all charges, includ ing the salary of the general managers, and providing for all bad and doubtful debts, amounts to
Profit and loss-
Forward from
1904 ...$ 6,096.78 Net balance
1905... 125,408.59
-$131,505.37
$125,408.59
To which has to be added the balance brought forward from the previous year
6,096 78
$131,505.37
Less interim dividend of 50 cents per share paid in November, 1905... Less amount unclaimed at December, 1905...
$45,000.00
From this there has to be deducted :-
General managers' commis.
sion of 5 per cent, on the
net profits for the year as per article 80 of the Company's Articles of Association
Remuneration of the Con- sulting Committee as per article 92
$6,270,43
2,500.00
8,770.43
..$122,734.94
Leaving available for appropria
tion
**
We paid an interim
...
dividend of 5 per. in November last absorb- ing We now propose to pay a further dividend of 5 per cent. (making 10 per cent for the year) which will absorb
$45,000,00
...45,000.00
To write off furniture, fittings, of, utensils of trade, serated water plant, machin- ery, and building improvements To carry forward to
1906 account
25,00.000
7,734,94
$122,734.94
CONSULTING COMMITTEE.
The existing Consulting Committee consists of Hou. Sir. C. P. Chater, C.M.G., Hon. Mr. E. Osborne, and Messrs. H. P. White and J. £outt- · ́arston. The appointment of Mr. J. Scott-Harston requires your confirmation. AUDITORS.
The Company's sccounts at the Head Office have been audited by Mr. Francis Maitland and Mr. W. Hatton Potts, who offer themselves for re-election.
BALANCE SHExt, 31st December, 1905.
Dr.
LIABILITIES.
Capital account ...$900,000.00
Permanent
fund...
reserve
300,000.00
|
6,129.00 38,871.00
ASSETS.
Total Stocks in Trade Building improve. ments, Furniture, Fittings and Trade Utensils, at Hong. kong, Manila, Can- ton. Amoy, Foo- chow. Soanghai, Hankow, Tientsin and
Native Branches Aerated Water and
..$117,948.88
other Machinery
and Plant at Hong-
kong, Manila, Can-
ton, Amoy, Shang-
hai and Hankow... 121,627.27 Steamer Launch "Tai
Yeuk Fong" and Steam Lighter
Watson
**
8,059.75
Good Debts due from Customers
Sundry Debtors
Cash in hand
Cash at Bank
21,075.38 11,324.04
Fire Insurance, Premia unexpired Investments in Public Companies: North China insurance Co., Ld. Hongkong Fire InsuranceCo.,Ld. Section E of Inland Lot No. 19 and
the Buildings
thereon...
60,000.00 Marine Lot No. 2 C and the Build-
ings thereon
Remaining Portion of Kowloon Inland Lot No. 550 and the "Buildings thereon ... San Jacinto, Land and Buildings.
Manila ...
24,751,64
PROFIT AND LOSS.
To Balance...
194,968.85
[May 5 1906.
CONTRAS By Balance forward from 1904)
Net Profits in Hongkong, China and Manila for 1905. -
6,096.78
125,408,594 dor
·$131,505.37÷0%
CHINA ASSOCIATION.
MR. GUNDEY REPROVES SHANGHAI.
1
[FROM OUR CORRESPONDENT.]
London, March 30th. It is always a pleasure to attend the meetings of the China Association, whether it be the ordinary business meetings or the social gather- ings when reminiscences of the Far East mingle with the other good things of life.
There was a large attendance at the annual business meeting held on Tuesday at the offices of the P. and O. Company in Leadenhall Street. Mr. William Keswick, M.P., presided.
In proposing the adoption of the report, the Chairman said that the past year had been one of vast importance and full of great possible 216 697.58 | developments for the East. The war between
Russia and Japan was
waged far into 130,900.78 the year, and eventually brought to a satisfac
10,151.85 tory conclusion-a conclusion, he thought, which 15,650.00 | all men connected with Chins, and with Japan believed from the beginning would
92,634.87
be
the inevitable result. Japan's victori- ous emergence from the conflict has undoubtedly bad a great influence on China and the Chinese people. Unrest had occurred in that country: but unrest was generally the forerunner of reform, and they could trust-however much they might doubt China's efforts that the efforts of that country would be towards prudent reform, in the augmentation of the moral forces of the empire and without inconvenience or hostility to foreigners. China must realise that she is generations behind the other nations of the world, and unless she realised this there would be no permanent improvement. If a permanent improvement was to take $1,886,003.43 place it must be not by contracted rela- tions with foreigners but by an expansion $1,044,963.49 of these relations in the interests of the people themselves. If that were one outcome, then the recent war would redound to the good. of China. The people of China were not so much behind other people, but the Government was. In Jap n, at the time of the great historical change, the Government was a little in advance of the people. They went rapidly, and the people soon followed them. In Chins he thought it was the people who were in advance of the Government, and it was to the people they had to look now to reform the Government more than to the Government to:- set the example to the people. Be that as it might, the time had come for all foreign countries having influence with China to extend that influence and to make their commercial relations greater than they are and to open up facilities for the vast trade which the country undoubtedly possesses, and which they were sure the people themselves wished to see extended. $247,625.90 From the report, they would see that a great deal 241,645.29 | of work had been done during the past year. He 22,221.03 | alluded to the excellent relations that existed between the Association and the Foreign Office, and claimed that reforms had been 32,399,42 accomplished by means of the fair expressions 9,769.84 of views put before the Government by the Association in the interests of trade. He then referred to the recent misunderstanding with had been the Sbanghai Branob. There circulated with the Association report the minutes of a meeting held in Shanghai. That report was now on the table and spoke for itself. He did not intend to allude to it beyond saying a very few words, and they were to the effect that if there was a feeling in Shanghai that the representations of the Shanghai Branch 27,500,00❘ had not met with the support that they were entitled to it was to be regretted. He felt sure that everyone there that day would regret 286.169.46 6 that hangbai had that impression. No much feeling as the intentional neglect of their $1,888,003.43 representations was overentertained on this side and he hoped the matter, now that this had been represented in its proper light to .8131,505,37 | Shanghai, was now at end. «Cere would be taken in London in future that the views of $131,505.37 Shanghai received all legitimate attention in
1,200.00
173,917.82
け
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