42
a
that whoever took it on must pay him 840 month. The sub-contractor naturally demurred to this, but the defendant pressed him to pay the amount, and being afraid of unpleasant consequences if he did not comply, from that time be paid the defendant $40 a month in installments of different sums. Shortly after the payment on June 18th the sub-contractor would tell the Court that he heard the Sanitary Commission now sitting had seized the books of certain contractors; that he became afraid and refused to give defendant any more money. Defendant then sent several messages to the sub-contractor telling him that he must pay the money or he would get into trouble. During the period from October 1st last year until the end of June this year, the defendant did not on one single occasion charge the sub-contractor or his employees with neglecting their work or creating a nuisance, but on July 5th, finding his money stopped, he arrested two of the sub- contractor's empla ees for an offence, charged them before the Court, and they were fined 87 each. Circumstances relating to the previous payments having come to the knowledge of the police, it was decided to lay a trap for the defendant, and on July 8th the sub-contractor was supplied with four 810 bank notes, of which Inspector Hanson had taken the num. bers. With these notes in his possession, he met the defendant in Connanght Road, and while walking and talking with him the pair were being watched by Detective Sergent Mortimer O'Sullivan. At a given signal the detective arrested the defendant, who at the moment of his arrest pat his hand in his pocket and dropped the four notes on the ground. On the same day the police took certain hooks belonging to the sub-contractor in which entries were found relating to the payments in question.
After hearing part of the evidence his Wor- ship adjourned the case.
HONGKONG HIGH-LEVEL TRAM-
WAYS CO., LTD.
од
THE HONGKON › WEEKLY PRESS AND
[July 23, 1906,
The accounts hare bɔon andited by Messrs. Geo. D. Scott and J. E. Bingham.
Tae Liquidators trust to be able to place their final Report before the Shareholders, as required by the Companies' ordinances, at an extraordinary meeting to be held some time in Angust next.
granted an injunction restraining the company
Mr. W. J. Grosson resigned his position as and its liquidators from carrying any of the Liquidator on the 4th May last on leaving resolutions into effect until they complied with ||Shanghai. Mr. J. D. Thorburn, owing to the terms above indicated. The effect of pissing illaess, resigned his position as Auditor on the and confirming the resolutions which I shall||22nd May last, and Mr. J. E. Bingham, of shortly put to you will be that such shareholders Messrs. Lowe & Bingham, has been invited to in this company as desire to receive in exchange fill the vacant pisos. for their respective holdings therein shares in the Peak Tramways Co. will be enabled to do so. and that those who desire to receive cash will be at liberty to give notices of dissent under sections 201 and 202 of the Hongkong Companies Ordinance 1865. after giving which they may either take what the liquidators will offer them (viz., 8200 per share and in addition the proportion of unpaid dividend thereon earned up to the 18th October, 1905), or if such dissenting shareholders are not satisfied with this offer they will be at liberty to proceed to arbitration in accordince with the law. With the above information, I think I have satisfactorily explained the position, but at the same time should any shareholder have any question to ask I will do my best to answer
same.
No questions being asked, the CHAIRMAN, read the agreement, after which he proposed the passing of the first resolution, reading That the special resolution being the fourth in number passed and confirmed at extraor dinary general meetings of this Company held on the 3rd and 20th days of June, 1905 respectively, together with all agreements entered into therenader and particularly the agreement in writing bearing date the 18th day of October, 1905, made between this Company and its Liquidators (John D. Humphreys Fon) of the one part and the Peak Tramways Compa. y, Limited, of the other part be and te same are hereby rescinded."
Mr. WHITE sec.nded, and the resolution was carried,
The CHAI MAN then proposed that the second resolution be passed. It reads "That the draft agreement submitted to this meeting and expressed to be made between this Company and its Li quidators of the one part and the Peak Tramways Company, Limited, of the other part be and the same is hereby approved and that the said Liquidators be and they are hereby authorised parsaat to Sectio 8 201 and 202 of the Companies Ordinance, levé, to enter into a Agreement with the said Peak Train ways Company, Limited', in the terms of the s draft and to carry the sam‹ into effect with such (if any) modification as they may thick
I
Ar extraordinary general meeting of share holders in the Hongkong High level Trem vays Co., Ltd., was held at the registered office of the Company, Alexandra Buildings, at noon July 14th, for the purpose of passing the resolu. tions hereafter mentioned, pursuant to the order dated March 28th, 1906, made by the Supreme Court in original jurisdiction in action No. 371 of 1905. Mr. H. Humphreys presided, and there were also present-Hon. Mr. W. J. Gressonexredient." and Merare. J. A. Jupp, G. C. Moxon, H. P. White, T. F. Hough, E. Seth, R. Harding D. E. Clark, T. S. Forrest. Lau Chu pak and J. M. Wong.
Mr. Jupp read the notice convening the meeting, and
Mr. Ho as seconded, and the proposition was carr ed unanimously.
The CHAIRMAN—That concludes the business of the meeting. gentlemen. There will be another meeting liter on, of which due notice will be given.
S. C. FARNHAM, BOYD &|CO., LTD. |
(IN L'QUIDATION)
The following report of the Liquidation is to be presented today (July 17th) at the Sixth. Annual General Meeting of Shareholders, at Shanghai:
In accorda with tlie resolutions passed at the Extraordinary General Meeting of the Shareholders of S. C. Farnham, Boyd & Col. Ltd., held ou the 23rd January. 1936, which were subsequently confirmed at a meeting held ou the 14 February, 198, the Liquidators appointed have carried on the business until the close of the financial year of the Company. viz.. the 3th April, 1906, and have now pleasure in submitting to you their Report, with Statement of Accounts.
said-Gentlemen,-The The CHAIRMAN objects for which this meeting has been con- vened are:-(1) To rescind the fourth specia resolution passed aud confirmed on the 3rd and 20th of June last year and all agreements (particularly the agreement of the 18th Oct.. 1905, made between this company and its liquidators of the one part and the Peak Tram- ways Company. Limited, of the other part) entered into thereauder. (2) To approve the draft agreement (which has been prepared by the Company'solicitors (Messrs. Eweus, Hars. tɔn and Harding), which I will read to you in duo o urse, and which if necessary Mr. Harding. who is present for the purpose, will explain. The fourth special resolution in question was as follows:-"That the Liquidators be em powered to sell to the Peak Tramways Com. pany, Limited', the undertaking of this Com-
The Net Profits for the year ended on the pany at the price of $200 per share, either in cash or shares of the Peak Tramways Company, 30th April, 1906, including the amount brought Limited', at the option of shar holders of this forward from last year and after paying all company and to enter into all necessary agree-charges and allowing for all known liabilities, ments to that effect." As you are aware, in am wint to Tls. 445,597 98.
After allowing for an interim dividend of consequence of the action instituted by Mr. D E. Brown, one of the late shareholders in the per cent. on 55,200 shares paid in January this year, which absorbed Tls. 220,800, there remains company, the Chief Justice of the Supreme Court of Hongkong held that the fourth for distribution the sum of Tls. 221,797.98. This special resolution which I have just read amount the Liquidators recommend to be dealt was invalid and that the other three special ¦ with as follows, viz. :- resolutions could not be given effect to
-
in the absence of such special resolution | A final dividend of Tls, 4 per share
in lieu of the said fourth special resolution as should expressly recognise the rights of dis- sentient shareholders, and the Chief Justice
T18. 22018 0.00 8.997.98
In accordanos with the Resolutions passed at the Extraordinary Meeting of the share- holders of 8. C. Farnham, Boyd & Co., Ld., held on the 23rd January, 1906, which were sab. sequently confirmed at a meeting held on the 14th February, 1906, the Liquidators appointed hare caused the registration of the new Com.
named. The Shanghai Dock and Engineering Company, Limited", and trans- ferred on the 1st May last the Assets and Liabilities of the old to the new Company,
PROFIT AND LOSS ACCOUNT. 8th January, 1906. To 4 per cent. Interim Dividend on
55,200 shares
30th April, 1906. To Balance ...
1st May, 1905. By Balance carried forward
Tls.
220,800.00
... 224,797.98
Tls... 445,597.98
Tls. 34,924.24
30th April, 1906. By Transfer from Working Account 410,673,74
Tls.. 445,597.98
BALANCE SHEET. Capital Account.
#9
ASSETS.
30th April, 19.6. To OLD DOCK:
"Old Dook Property, with Boilers, Pumps, New Moorings, Shear Legs, Lannohing Ways, Capstan, etc., 16m. 5f. 21. 5h... Office Building, Godowns, Ma- ohine shops and Dwelling Houses, including Ground 3m. 7f. 61. 4h.
LE
OSMOPOLITAN DOCK: Cosmopolisen Dook "Essperty," with Pump-house, Pumps, Boilers, etc., including Ground, 45m. 2f. 11. lb. Land,
including Banding Wharves and Wall 107m, 5f. 81 6b.
Machine Shops, Godowns, Office and Dwelling Houses, 108 Chinese Houses, including Ground, 9m. 5f, 0'. 8b.
To INTERNATIONAL DOCK :-
“International Duo ‹" Wharves · aud Bunding
Laud, 125m. 8f. 11. 3h. Buildings
To TUNKADOO DOCK:
Tauxadoo Dook" Properly, with Buildings Boilers, Pamps, Shear Legs, etc., 35m. 6f. 91,
5b...
To New Dock :
24
New Dock" Property, with Buildings, Boilers. Pamps Shear Legs, etc, 48m. 61. 41. 3h
TO ENGINE WORKS, POOTUNG:
Property with Buildings, Shear, Legs and Railway, 5km. 37. 11. 8b
To SUNDRIES:
་་་
Machinery and Tools at Five Docks and Engine Works.
8 8. Samshui, 3 smill Steamers, Launches, Pile Drivers Poo. toous, Steam Dredgers, Shear Legs, Dook Plant, Office and Drawing Offc; Material and Furniture
Tls.
691,550.00
110,850,00
554,000,00
94,000.00
J
100,300.00
O
29,000.00
588,500.00
90,479.00
78,509.00
178,500.00
671,498.00
365,014,00
1,109,097,90
354,849.92
Stock of Material on hand, und unfinished work less Liabilitier. 1,225 950,25 Sundry Debtors...
Amount to be carried to new account
· Tls. 224,797.83
Shares in Public Companies
397,499.25
17,417.24
tPage 11
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