March 9, 1907.]
CHINA OVERLAND TRADE REPORT.
|
shall
to
163
which have bronght in about Tls. 1,000 more | produced Tis. 511,940.79, an increase of just
loss DO time in offering them than last year. Repair and renewals cost over 14 per coat, The residuals have brought consumers here, I should like to take Tis. 5,956.60. Your plant is in excellent in the handsome total of Tis. 100,585,44, this opportunity of appealing to consumers to working order, every machine during the year against Tls. 61 845,95, or about 62 per cent assist our staff to ensure efficient lighting. We having been thoroughly overhauled. Spinning increase. On the other side of the sccount our are only too anxious to correct any failings secount is not so satisfactory as last year, but is total expenditure has been Tls. 406,2-427 when they ocear. What I want to ask is that accounted for by the heavy fall in the price of against Tls, 318,008.17, an increase for which prompt notice may be given when lights burn yarn which occurred daring the latter portion carbonizing material is chiefly responsible. | badly, or anything is wrong, so that the remedy of the year, while the price of cotton showed We have carbonized some 4,000 tons more may be applied without delay. As an interest- but little variation thoughout the period material and we had to pay a much higher price|ing indication of the growth of our business I covered by the report. The overdraft with for it than during the previous year. AR may mention that on last Chinese New Year's our bankers has been reduced from 11. | regards the other items, I need merely say that ere we delivered 2.714,500 onb. ft, of gas-some 238,000 to Tls. 165,0 0, It is diffent. they have only increased as necessitated by 600,000 feet more than on the corresponding to forecast what the result of this year's our growing ba-iness. Profit and Loss night in 1906; and going back to 1903," the de- working will be, but the ontlook for the Account you will find charged with the livary was then 1,075,000 cab. ft. These are figures immediate future is certainly not so bright as depreciation appropriations of
last your
that speak well for our progress. I regret to say this time last year. We are carrying forward the Tix. 2 4000 there passed ta ruewal< and that the laying of the tramway has caused some rather a larger stock of yarn than is usual, but depreciation account, the bonus to staff, and trouble and a tendancy to friction that we have clearances during the last quarter were far from other items-all daly explained in the account. done our best to avoid. We have done what we satisfactory, the trade generally having suffred On the other side of the account there could by drawing the attention of the Munici in this respect, which is borne out by the fact will be found  credit of Dls. 6,035,14| pal Council to the difficulties and probable dan- that our Chamber of Commerce at the end of for interest,
is the balance after ger to the public, and hindrances to this com- the year returned a stock of local spun yarn of paying interest on overdraft, and crediting | pany's future work, and have been ready to do about 68,000 bales which, roughly speaking, interest on plant, buildings in course of erection, | our share towardsformulating equitable arrange. represents no less an amount than about fire fittings and stocks. Exchange accɔnut shows | ments. So far we have been met in a some- and a-half million taels in value. Before moving Tls. 4,127.87 in our favour. When referring to what uncompromising spirit, but we the resolution to pass the report and accounts I
hope that the appropriation to renewals and depreciation timely measures may yet be taken to safeguard shall be glad to answer to the best of my ability account last year, I informed yon that it was the public from fatare dangers and inconveni- any questions that any shareholders may care to done with the full intention of drawing apoa ence and that the Council will extend the pro- ask.
it this year towards som hairy prospectira tection and assistanos that they alone can afford additions and extensions. We have only needed to the bgitimate position of this company, to trench upon this account to the extent of Tis which, as caterer of light to the community, is 65,000, leaving Tis. 100g 00 for future similar
so inseparably bound up with the public indo. needs. Turning to the bilance sheet, the rests. Before concluding. I wish to bear testi- expenditure of Tis. 71,41680 is mostly for the mony to the good work done by our staff to- cost of new offices and godowns, and Ps. 15,001 | ring the your, which I am sure will meet with Proposed by the Chairman, secouded by Mr. of this we have charged to renewals and depre your cordial appreciation. Michelan that a dividend of Tls. 8 per share be¦ciation secount. On manufacturing plant Tis. declared for the year euding Deceraber 31, 19 6. | 17,138,24 was expended. Ou this account we Proposed by Mr. Clark, seconded by Mr hare thong at it expedient also to make a Mr. Murphine: that Messrs. Young and appropriatin
frou renewals and deprecia Chung Liang ya be reappointed directors of¦tion account of Tls. 50,000, so that the
There being no questions the following re Folutions were put to the meeting aud carried unanimously:
Proposed by the Chairman, secouded by Mr. Young: that the report and accounts as present. ed be passed.
the company.
Proposed by Mr. Mooser, seconded by Mr. Rosenfeld; that Mr. G. R. Wingrove be re-¦ eleated the company's auditor for the current year.
|
¦
it
fotal cust in the balance sheet now standcat Tis. 32,881.76 fose than last your. As you would suticipate from what I said at our last annual meeting, we have some extensive works in cours- of constructiou, against which we have paid the large sum of Tis" 236,466,3× as debited in the
account and which will be transferred to manu- We have
¦
·
|
There being no questions the following resolutions wer put to the meeting and adopted
without comment.—
Propssed by Mr. E. Jenuer Hogg and seconded by Me. J. M-Yonng:-That the report and ge onuts as presented be accepted and passed.
Proposed by Mr. E. Jenner Hogg and seconded by Mr. F. Ayscough: That a final dividaod for the year ended December 31st, 1906, ha paid to the shareholders at the rate of three Tails and fire race (['la. 3.50) per share on old shares and one fa«l, one maco and five osudereens per share on the new shares issued on November İst, 190i,
Proposed by the Chairman (who explained that it was a necessary formality), seconded by Mr. Young that the next general meeting facturing plant during this year.
: be held during either the month of February | added considerable facilities for distributing or March 1908.
at a cost of T1, 91,188,38, Farniture account Proposed by Mr E. Jenner Hogg and shows a larger expenditurethan usual, owing to seconded by Mr. P. F. Lavors: That a bonus additional farniture that has been useded for for the your Blos be paid to the shareholders at our new offices. On the other side of the the rate of oue tal and five mace (Tls. 1.50) acconut you will find capital secount increase i per share on old shares and two mace and five from Tls. Sono to Tis. 1,197,700-brought | candareins (Ile, 1,25) per share on the new mp to that figure by the issue of 7,954 | shares issued on 1st November, 1906, shares last Novembər
'The Chairman--Before adjourning the meet. ing, gentlemen, I have to inform you that the Board, in view of the steady advance in the market value of your abares, decided early in the year to offer to shareholders the balance of our unissued capital, viz., 842 sliares at par in proportion of oue share in every nine as held by shareholders on March 1, March 31 being allowed to shareholders resident in Europe or America. The Board have every hope that this extra capital viz.. Tls. 84 200 will be taken up, which will place the company on a thoroughly sound working basis and enable ur, I hope, considerab'y to reduce our usual charge for interest. With these few remarks, gentlemen, I have to thank you for your attendance here this afternoon and in closing have to inform you that dividend warrants will be posted at oude.
The meeting terminated with a vote of thanks to the Chairman, proposed by Mr. Clark.
THE SHANGHAI GAS CO., LD.
ANNUAL MEETING.
-
Cle the premium of
44
coa-
Proposed by Mr. E. H. Hutchison and second.
Anderson be re-elected as auditor of this company
THE CHINA MERCHANTS' COMPANY.,
Proposed by Mr E. Jeuner Hogg and second- 30 per share bing ad.fed to premium od by Mr P. F. Lavers :—That the balance at acconat," Thr uther item need NO com. the credit of profit and loss account remaining ment. So much for the working of a soma. after payment of the dividend and bonus on what difficult year. As to the future shares d-clared at this meeting be appropriated I think we may look forward with every as recommended by the directors in their report Adence. We have continued to provide—and for the year 1906. we must go ou providing-for the business Proposed by Mr J. Johnstone and seconded which is ever increasing and the larger supply by Mr. E. E. Parsons :-That Mr. F. Ayscough of gas which we have every reason to beliera | be re-elected as a Director of this company. the public needs will demand from us mora and more, especially as it becomes fully recized by Mr N. E. Bryant:-That Mr. W. H. bis d that gas offers such great advantages for power and heating. Although we have extended in these directions here, we have made nothing like the strides that have been made elsewhere, It is no longer a
question [ of the advantages of gas for small power in stallations only. Installations for anything up to 2,000 horse power are now in rogus and The annual general meeting of shareholders prove economic successes, while for heating in this company was held at Shanghai on Feb. and cooking, the facility, economy and 28th. Mr. E. Jenner Hogg (Chairman) said : | cleanliness to be obtained from gas cannot fail The report and accounts which have been in to be more practically appreciated. As to your hands for some time will, with your per-ordinary lighting, improvemeals continue, sad mission, be taken as read, and I think you you are doubtless aware how gas is more than cannot fail to find them satisfactory, since, holding its own, often replacing the rival in the face of dear coal, they show such illuminant by reason of its economy and other excellent results of the year's working. Our advantages. The subject of incandescent gas consumption has increased as much as could mantles" is reciring much scientific attention be expected, and an excellent feature is the at home and more durable maatles are being good and growing development of our bye obtained. A new process has produced a mantle products in the shape of tar, pitch, and sulphuts whic receives the following testimony from an of ammonia, for which we bare found a ready independent quarter—” One thing is quite clear, market and we have every reason to hope for and that is that the incandescent gas industry
■ steady increase in this branch of onr has secared another victory and scored another business. You will notics that working triumph, since the only serious den back to Rocount shows our total receipts to be incandesosat gas lighting--the fragility of the TL. 621,999.69, an increase of Tis. 92,347, (0 | mantle-bas been finally OTETCOME. If or nearly 17 per cent-the gas sales having we find these manties as described, we
|
|
A special meeting of shareholders in the China Merchants' Steam Navigation Co. was held at the Yaynen (Firdous Shanghai, on Feb. 28th to elect special representatives of the company wh› shall have the power of registering it as a commercial concern in the Ministry of Agriculture, Works and Commerce. There were present 198 shareholders, representing 202,816 shares, or a little over one-half of the total number. The Chairman of the meeting was Mr. 8bên Tun-ho, one of the Directors of the Imperial Bank of China, and the propoml to elect special representatives to register the company in Peking was unanimously agreed to by those present. The follow- ing fire gentlemen were elected : H. E Bhen Kung pao; Trotai Shou Tus-ho, Tsotai Chou Chin-ohen, Chairman of the Chinese Chamber of Commeros and Director of the Chinese Telegraph Company Tuotai Wang 8ze-ohan, Director of the Imperial Bank of China, and Tnotni Yú Ya-sking, compradore of the Netherlands Bank. There is also to
No comments yet.
Private notes are available after approval.