180
く
During the latter months of the year, a briskness in business set in, and we have been kept fully employed in all departments since. The launches, buildings, plant and machinery
and statement of accounts
THEHONGKONG WEEKLY PRESS AND
Sundry Creditors
Profit and loss account
A BEET&
Written off for depreciation
Value of work in progress as per valuer's
certificate Casli on hand
The Hongkong & Shanghai Banking
Corporation current account Fixed deposit
Do.
Interest
17.480.47 30,385.94
$539,106.23
0
[March 18, 1907.
In accordance with the Articles of Association Messrs. A. J Raymond. H. P. White, D. W. Craddock and Dr. J. W. Noble retire, but offer themselves for re-election.
Auditors-The accounts have been audited by Mosers, W. H Potts and A. O' D. Gourdin, the latter having bren
to fill the vacancy caused by the death of Mr. T. Arnold. Messrs. W. H. Potts and A. O' D. Gourdin are recommended for re-election.
SHEWAN TOMES & CO.
General Managers.
PROFIT AND LOSS ACCOUNT.
and North Point Value of
300,750.86
machinery. plant.
launches and office furniture as per last report Additions during the year
..$31.123.14 7.468.39
$58,591.53 3,000.00
55,591.63
Value of stock in trade as per valuer's
certificate
0
84,787.63
Statement of accounts for the year 1906.
Interest
681.40
60,972.42
Auditors' 'een
400.00
366.52
Consulting committee's fee
4,000.00
$5,872.55 12,000.00 177.21
1
Amount written off as depreciation for 196 13,880.00 Balance
108,219.16
$128,673.56
17.549.76
0.
123.47
303.08
Ralance brought forward from 1905 Exchange
600 00
Investment income
5,340,00
17.970.56
$539,106.23
Balance from working account
115,134.45
$126,673.56
BALANCE SHEET.
$ C.
Capital:-
$
0.
81,182.46
50,000 shares at $10 fully paid up Reserve fund
500,000.00
61,000,00
13,967.0
Sundry creditors
18,122.25
1,264.20
3,00.0
Inrostment fluctuation account Balance of profit and loss account
7,23.0)
108,212.16
$692,367.41
$ 0.
Land, factory, maobinery, &c.,
0.
sa per last statement
Lost depreciation
221,500.00 13,390.00
208,120.00
107,514.14
The Chartered Bank of India, A. & C... The National Bank of China | tl Investments
Sundry Debtors
PROFIT AND LOSS ACCOUNT.
have been kept in a good state of repair. į Value of land and buildings at Wanchai Unfortunately the severe typhoon of September 18th caused us some inconvenience and monetary loss, to the extent of $2,400, at North Point, and $1,70 at the Wanchai Works--in all $4,10. The damage wrought at Wanchai has s nce been made good: whilst about a third of that at North Point which required immediate sttention was repaired at once. The report now before you therefore are very clearly detailed, and it is needless for me to repeat the We trust the pro- figures therein stated. posed division of profits as presented meets with your approval. I informed you at our last general meeting that we had petitioned the Colonial Office for permission to carry on
At our businesg
Wanchai for a further period of three years. This, I am glad to tell you, they have been good enouch to grant. Our new site at North Point is filled in and the reclamation finished and ready for building purposes, but the lifeless state of the lard and property market in the Colony at present retards our contemplated removal there. Late in August, we contracted to build two steel stern-wheel steamers for the inland waters of Indo-China. At the end of the year the work was well under way. Since then, both have been launched. One is now completed and ready for delivery, and the other should be finished about the middle of next month. Another order was also booked to build six large wooden lighters for Hongkong owners. I am sorry to say wo have been unable to finish the work as soon 83 was anticipated, owing to a scarcity of carpenters in the Colony since the typhoon. The European staff have worked in harmony and carried out their respec ive duties willingly, I am pleased to say we have started 1907 under more favourable conditions than last year and the prospects seem much brighter, so far as business and enquiries are concerned. I do Lot think there is anything further I can say which will interest you, but before moving the adoption of the report and accounts, should any further information be desired I shall be pleased to give it to the best of my ability.
No further informatiou being asked for, the CHAIRMAN proposed the adoption of the report and accounts as presented.
Mr. IRVING seconded, and the motion was agreed to.
Was
|
To cost of labour, material and working
expenses
To salarios
To crown rent and taxeR To depreciation
on
To balance, profit to be appropriated as
follows:- Dividend of 7 per cent
1,8 shares Director's feer Auditor's fee Balance to new account
$18,900.00
1,000,00 15.00 10.335.94
By balance of last year's account By gross earning By transfer fees
Ity bonus from Insurance Co.
By interest, dividend on investment, etc By debt written off in 1904, recovered ..
Rope, hemp, &e in factory, valued at Ro, e on consignment, valued at
30,385.94
$129,099,60
Fire inenrance premia for 1907
C.
Sundry debtors
Company's bankers
Cash in hind
6.00
10.96
8,915,81 117 436.46
897.05 1,833.30
$.29,099.60
GREEN ISLAND CEMENT COMPANY.
An extraordinary general meeting of the shareholders in the Green Island Cement Company was held on Mar. 16th at the Company's offices. Mr. R. Shewan presided and there were present Sir Paul Chater and Mr. W. J. Greeson (directors) Messrs T. Hough, R. Han- cock, W. L. Pattenden, F. E. Ellis and R. Henderson (secretary).
Mr. A. RODGER
re-eleated to the directorate on the motion of Mr. FORBES, seconded by Mr. McCORQUODALE,
Mr. KINNAIRD proposed the re-election of been read. Mr. Percy Smith as auditor.
Mr. IRVING seconded. Carried.
The CHAIRMAN-Gentlemen, I thank you for your attendance, Dividend warrants will be ready on Mouday.
he statement of accounts forțthe year ending 31st December, 1906, was as follows:-
After writing off the sum of $3,000.00 for depreciation the net profit for the year amounts to 821,470.10 to which has to be added the sum of $8,915.84 brought forward from last year's account. After payment of directors and auditors' fees' it is proposed to pay a dividend of 7 per cent, or $1.75 per share on the paid up capital of the company, which will absorb $18,900.00, leaving a balance of $10,335.94 to be carried forward to new account.
DIRECTORS.
Mr. A. Rodger, according to the articles, retires, but offers himself for re-election,
AUDITOR.
The accounts bare ben audited by Mr. H Peroy Smith, who offers himself for re-election.
A. RODGER, Chairman.
STATEMENT OF ACCOUN. 8. For the 12 months ending 31st December, 1906,
LIABILITIES.
CAPITAL. $450,00030 viz :
6,000 Old Shares of $25 each. $150, 00,00 13,000 New Shares of 25 sach. 30,000,00
$150,000,00
C
10,800 Shares issued and fally paid up 970,000,00 64,124.00 Reserve Fund
Hongkong and Shanghai Banking Corpora
tion loan account (secured by mortgages). 116,335.82 Amount received in advance on account of
contraata in kand................................................86944468396 142230 40,800.00
¦
|
The notice convening the meeting having
The CHAIRMAN proposed the first resolution that the capital of the Company be increased to $4,000,000 by the creation of 200,000 new shares of $10 each.
The Hon. Mr. GRESSON Seconded, and the resolution was approved.
The CHAIRMAN proposed the second resolu- tion sanctioning the necessary alterations in the Articles of Association, and SIE PAUL CHARTER seconded. Carried.
The CHAIRMAN -That is all the business
gentlemen. I am obliged to you for your attendance.
Cash at factory
Investment of reserve fund :-
2,5000 shares in the China Light and Power Company, Limi. ted at $10
3,400 shares in China Provi. dent Loan and Mortgage Co.. Ed. at $91
5,813,29
395.82
175,382.00
1,289.78
111,524,00 11,894.48
2,260.04 5:0
2,310.04
25,000,00
35,130.00
533 shares in the Green Island
Cement Company, Ld. at $21 11,193,00
71,343.00
$608,357.41
HONGKONG AND KOWLOON WHARF AND GODOWN CO. LTD.
The report for presentation to shareholders at the Twenti-th ordinary annual meeting, to b held at the City Hall on Wednesday, March 20th at 12.15 p.m., reads :—
The directors have now to submit to share. holders their report with A statement of accounts for the year ended 31st December, 1908.
The profit on working was 47,693.17 as compared with 8390,753.10 in 19:5, being an increase of 816,940.07.
The balance at credit of profit and loss socount, after paying int rim dividend of 5 par cent. and including $20,04 1,05 brought forward from last year, is $258,27,91 which it is pro- posed to appropriate as follows :— Directors and anditors' fees
HONGKONG ROPE MANUFACTURING | Final dividend of 5 per cent
COMPANY, LIMITED.
The report for presentation to the share. holders at the twenty-third ordinary general | meeting to be held at the Office of the General Managers on Saturday, March 23rd, reads :
Annexed we have the pleasure to lay before shareholders the annual statement of accounts made up to the 31st December 1906.
Trans er to depreciation and re-
pairs account
Transfer to Insurance Fund Carry forward to new scoount ..
BUSINE28.
10,500.00 99,660.0)
.:
133,010,0)
10,000,0 1
3,047 91
$258,207.91
Excepting Bombay yaru, of which abnormal quantities accumulated, imports genersily were The net profit, including the balance brought | restricted sad business throughout the year was forward from last year amounts to $108,212,16 | dall. which it is proposed to appropriate as follows:- To place to reserve fund
...8 4,00 .01
PROPERTY.
The prays was handed over by Government To pay a dividend of $2.00 per share, 1 0,000.00 | in April. The price fixed for such portions a To carry forward to the credit of
next year's account The result is a little better than that of the previous year, but sales are still restricted by the high price of Hemp at Manila.
the company may hereafter acquice is $3 per 4,212.16 | foot including an instalment of 13 coats per foot for the whole area (to be paid when übe exchange of land is settled). During the year 1938 feet were thus acquired. The building on K.M.L. 4 referred_to_in_last_report is now occupied as offices. No. 6-7 godown and new workshops were completed.
Consulting Committee.—Mr. D. E. Brown having resigned on leaving the Colony, Mr D. W. Craddock was invited to take his place,
No comments yet.
Private notes are available after approval.