}
April 15, 1907.3
COMPANIES.
HONGKONG ICE CO., LD.
An extraordinary general meeting of share holders in this Company was held at the offios of the General Agents, Messrs. Jardine Matheson Ind Co., On the 6th April Hon. Mr. W. J. Greason presided and thers were also present Messrs, R. G. Munro (were. tary), C. H. Ross, A. Rodger, J. Barton, C. W. May, 1.8. Forrest, B. Sutherland, L. M. Leefe, Ho Fook and Lo Cheang-olni
The SECRETARY read the notice calling the *meeting, and the resolutions it was proposed to
confirm.
Mr. RODGER proposed that special resolution No. 1 concerning changes in the Company's Articles of Association, as pa sed by the meet- ing, hell on March 21st, be confirmed.
Mr. Ho Fook seconded, and the motion was agreed to.
Mr. LEEFE proposed that the special resolu tion No. 2 approved at the meeting held on March 21st, and dealing with changes referred to in special resolution No. 1 which will take effect from and including May 1st be confirmed, The motion was seconded by Mr. FORREST and carried.
The CHAIRMAN-I thank yon, gentlemen, for your attendance.
HONGKONG COTTON SPINNING, WEAVING AND DYEING
CO., LĐ).
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CHINA OVERLAND TRADE REPORT. HONGKONG LAND INVESTMENT
AND AGENCY CO., LD.
The ECRETARY nal the notice calling the meeting and the resolutions it was desired to confirm.
Mr. SMITH proposed the adoption of the first resolution as read by the Secretary.
Mr. ELLIS seconded and shareholders agreed. It was proposed by Mr. Ho Fook recond by Mr. Ho KOM-T NG and agreed that the resolu- tion making changes in the Company's articles of association as read, should come into force and | take effect from and including May 1st,
The CHAIRMAN-I am very much obliged, gentlemen, for your attendance.
THE HONGKONG AND KOWLOON
WHARF AND GODOWN CO.
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$1
succeeding year. I mention this, because, purposes of proper comparison betwvon ́thi report and previous reports, you must go back An extraordinary general,mesting of share to the balance sheet of 30th June 1906 and holders in this Company was held at the must look upon last year's report – as Company's offios, Victoria Buildings, on the sort of interim report. Another point which 11th April. Hou, Mr. W. J. Gresson presided must b› borne in mind in comparing, the delar and there were also present: Sir Paul Chater, | figures is the extraordinary rise in the sterling Messrs. A. J Raymond, H. P. While, A. Haupt | equivalent of the dollar or rather the correspond- (directors), A. Shelton Hooper (soventary), H. | ing fall in the dollar equivalent of the pound Percy Smith, W. A. Cruickshank, F. Ellis, P. sterling. On the 30th June 195 the dollar M. Graca, J. Orange, Ho Tung, Ho Kom-tong, ❘ stood at Is, 101d., on the 31st December 1905 it Lo Chung-shui and Ho Fook.
stood at 2/04 and on the 31st Decembır 1006 at 2/3,3/16. As you are aware, most of our business is transacted in gold currencies and most of our funds are held in gold, so you must turn our accounts into gold before making comparisons. Another element is our purchase of the shares in the China Tradors' Insurance Company which has largely increased our assets as well as our liabilities. Our arrange- ments with that company have produced another result which perhaps you may not have looked for, namely a considerable reduction in our working account figures, and I would like to draw your special attention to this last point. In order to make full use of our property in the China Traders' Insurance Company, and to free ourselves from the waste of labour and the complication of exchanging reinsur- ances, and in order to make certain of providing adequately for the interests of_the_for_remaining shareholders of the China Traders, wa found it desirab'e to pool the joint business between the two Companies, and we selected the proportion of two thirds and one third na being very much more con- venient than any other, although we knew that the direct business of the China Traders'
of the whole. would not amennt to anything like one third It makes no real difference what proportion is taken because the Society owns over 95 per cent, of the China Traders' shares and what we lose on cur Underwriting Account we make on our Investment. In order to ascertain the real business We are handling, yon must add to our figures those of the China Traders' Insurkada Company. Tha nett preminm of the two Companies for 1906 31,222,000 or
Accusing quar' £591,000, Withna whole .Gion I will leave the usual company of our present figures with those of last year and conßiue my further deal with the 1905 Working Account and we are remarks to the present report. We have first to
pleased to be able to recommend a flusl dividesd of $12 per share and an addition of 29 ),000 to the Starling R serva Faud, besides leaving some $450,000 to be carried forward against outstand- This foal dividend of $12 ing liabilities. makes, with the interim dividend of $30 paid last
An extraordinary general meeting of share. holders in the Hongkong and Kowloon Wharf
on
and Godown Co. Ltd. was called for April 5th to confirm resolutions passed at a previous meeting. The Hon. Mr. W. J. Gresson prerided. There were also present Sir l'aul Chater, the Hon. Mr. F. Osborne (secretary), Messrs A. G. Wood, A. J. Raymond. C. R. Lensmann, E. Goetz, G. H. Medhurst, Smith, J. Orange, W. A. Cruickshank, and (directors) T. F. Hough, Ho Fook, H. P.
E. J. Hughes,
The Sicnds Why having read the notice con-
The CHAIRMAN moved the first resolutio
An extraordinary general meeting of share. holders in this company was held at the office of the General Agents, Messrs. Jardins, Matheson and Co., on the 6th April. Hon.❘rening the meeting, Mr. W. J. Gresson presided, other shareholders present being Sir Paul Chater and Messrs A. G. Wood (consulting committee), P. 8. Jameson (secretary), C. H. Rose, J. Miller, F8 Forres', H. Gittins, R. 8. Piercy, J. Shaw, Lo Chenng-shni and Ho Yee-shang.
The SECRETARY read the not.de convening the meeting and the resolutious which it was proposed to adopt.
Mr. FORREST moved that the first résolation, dealing with changes in the Company's Articles of Association as read in the notice conveuing the meeting, be a topted.
Mr Lo CHEUN -SHUI seconded and share. holders agreed.
Mr. MILLER proposed that the changes in the Company's Articles just approved come
concerning the alterations in the Articles
Association.
Mr. OHANGA reconded, and the resolution was approved.
The second resolution as to when the changes should come into force was also carried on the motion of the CHAIRMAN, seconded by Mr. ORANGE.
The CHAIRMAN-That is all the business, gentlemen.
UNION INSURANCE SOCIETY OF CANTON, LD.
The thirty-fourth ordinary meeting of abare- holders in this Company was held at the
into force and take effect from and including | Society's officsson April 13th. Mr. A. G. / April, $42 per share for 1905 ngaiust"84) per
May lat.
Mr. GITTINS seconded the proposition,
which was carried.
The CHAIRMAN-I am obliged to you, gen- tlemen, for your attendance.
HONGKONG LAND RECLAMATION COMPANY, LD.
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share for 1904, another step forward, the 13th E. Goetz, G. H. Medhurst, A. Forbes and . years. It is only by nursing our resources that Wood presided, others present being Mowers.
inores in dividend in thirteen consecutive
Balloch (directors), Mr. W. J. Saunders We can continue this steady progress and I (~cretary), Messrs. F. P. Hett, H. Humphreys, hope shareholders will be satisfled. As regards J. J. Loiris, D. R. Law, 8. G. Newall, A. J. the balane carried forward the Bon d has Raymond, r. C. Lans, F. W. Horaby, and already utilized part of this by voting the staff D. B. Murray.
a bonus of 15 per cent, of a year's salary in the form of An addition to the provident fund of each member and I hope this will meet with your approval. We next come to 1908 guessed at bat Recount. The ultimate profit esa only be
a the loss ratio is almost - exactly the same as it was for 19) account at this time last year we my bops for a very satisfactory result, and this in spite of typhoons here and some very heavy losses
The SECRETARY read the notice calling the meeting.
On the 11th April an extraordinary general meeting of shareholders in the Hongkong Land Reclamation Co., Limited, was held at the Company's office, Viotoria Buildings Hoo. app Mr. W. J. Gresson, was in the chair, others present being Sir Paul Chater, Messrs. A. J. Raymond (directars), M. 3. Northoote (secretary) C. H. Ross, F. M. Graca, J. Orange, H. Peroy Smith, A. Shelton Hoooper, C. P. Chater, A. Haupt, Ho Kom-tong, Ho Taug, Ho Fook and Lo Cheung-shui.
The SECRETARY read the notice convenning the meeting and the resolution to be confirmed. The revolution to altering the Articles of Association of the Company, as read, was confirmed on the motion of Mr. SMITH, seconded by Mr. ORANGE,
Mr. Lo CHENG SHUI moved that the re- solution making changes in the Company's artiel s should come into force and take effect from and including May Sat
Mr. Ho Foox seconded and the motion was carried.
The CHAINMAN—I am much obliged to you, gentlemen, for your attendance.
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London
the Australian trado. Our
less favourable oatiarn in other quarters. account is particularly good and balances the
This is the more satisfactory because 1906 haa had no assistance from outside sources whereas 1904 received considerable acomasión of
The CHAIRMAN said:-Gentlemen, Since the report was issued we hare invited Mr. Goetz, of Mary. Arnbold, Karberg and Co. to join the Board, and he has accepted the intment. I may mention also that our old friend Mr. Sisbs has gone bome for the anmmer. We have granted him lease of absence, and hope to see him back in November.in The report has beeo is your hands for wome weeks and I will therefore, with your permission, take it at read. We are dealing on this o008- sion with the final profits for the year 1905 and the interim figures for the year 1906. At this Time next year we hope to meet with the final premium from war risks, and 1905 got the profits for the year 1966 and the interim figures full benefit of the alteration of our sys- for the year 1907 and so on in future. At the annual meeting last April we made no distriba- the outstandings from 1904 and passing
of transferring risks, taking tion of profits beyond declaring au interim diri- dend for the year 1905, as we had already dealt of an interim dividend of $30 per share for the none on to 1906. We recommend the payment with the profits of the year 1904 at the previous an- nual meeting in October 19 5. You willremember | $12 for 1905, 42 per share to be paid now to year 1906, making with the final dividend of the reason for patting off our annual meeting | shareholders. We also recommend the pay: until six months later than before, namely be-
ment of the usual bonus to contributors and cause we found it necemary to lat esok yese run off properly until all the risks had expired in.
we carry forward the balazos. As regards our stead of closing it off at the end of June in the from the revaluation of our investment in th
new issue of Capital and the prost" socruing
'
tem
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