Page
March 7, 1908.]
PROFIT AND LOSS ACCOUNT For the six months ending 31st December,
CHINA OVERLAND TRADE REPORT.
Installation of Electric light, as per last
account
Stock of linon, crockery, glassware, etc.... Stock of wine, provisions, household sundries, and stationery, as per in- ventories
Hongkong and Shanghai Banking cor.
poration (Unclaimed dividonds ac count)
1907.
Dr.
$ c.
To bad debts and refunds
932.69
To Crown rent
505.92
To rates
2,562.20
To fire insurance
3,787.10
To debenture int. on $500,000)
at 3 per cent
Shares in public companies...
3 0. 15,000.00
Value of steam launch
Sundry debtors
Leas returned on debentures
Licenses attaching to 198
held by the Company
2,305.48
12,604.52
6,813.65
To directors' and auditors' fees
3,200.00
Cash in hand
To repairs and renewals account, balance
as per statement
2,089.11
To balance to be appropriated as follows:
To pay a dividend of 7 per
cent.―
42,000.00
To transfer to repairs and
renewals account....
7,000.00
To carry forward to now aC.
count
252.17
To interest socount
Cr.
By balance from 30th June,
19/7......
Less dividend at
8 per cent.... $18,000.00
Lesa
transferred
to repairs and
renewals
&C-
count
10,000.00
Less transferod
to furniture &
fixtures account 4,958.62
* c. 73,894.50
€2,954.62
By rents of shops and offices,
old building
By rents of shops and offices,
$5,840.00
4,540 00 21,000.00
new buildings
By rents of hotel mansions
By dividends on shares in public companies
By scrip an 1 transfer feos
By bad debts and refunds recovered
By profit on hotel working account for the
49,252.17
$81,867.36
$ c.
31,380.00
221.00 13.00 35.13
24,000.00 36,811.92
29,120.89 5.796.31 5,0 K,00 30 925.79 2,576.07
967.00 276,09
$2,013,3 1 1
RAMIE AT SHANGHAI AND HONGKONG.
The first general meeting of the Eastern Fib.e Co. Ltd (to comply with the Hongkong Ordinauce) was held at Shanghai on February 26th. Mr. E. S. Little (chairman) mad- the following interesting statement:—
was
In the first place, I will call your attention to the fact that within three months after the registration of the company actual work was in progress, which for a new concern is almost a record. Very unfortuutely for the company Mr. McGregor Smith, senior, died in Hong kong before any work in bulk could be put 14,925.8 through. He had planned to return from Hongkong in order to start the works and see the scheme through to a success. We were. therefore, deprived of his experience and thrown back upon our own resources. When we came to actual operation, we found that it necessary to modify many of the mechanics! appliances. and a considerable amount of time has been occupied in making experi. ments as to the best method of handling the fibre in bulk. Many of the difficul. ties have been surmounted, while others are in a fair way of being silved. As regards the percentage of loss and cost of treatment, the works manager is of an opinion that, after the factory has run under ordinary working con. ditions at least six months, tresting various qualities of grass from differont districts, the above points will be settled with definite precision and the exact rate ascertained. From the fibre already treated the indications point favourably to results being as already stated in the propectus of the company.
six months cuding 31st December, 1967 39,292.35
$81,867.30
REPAIRS AND RENEWALS ACCOUNT For the six months ending 31st December, 1917. Dr.
To payments on account of repairs and renewals during the half-year ending 31st December, 1957......
Cr.
By amount transferred from profit and loss account as recommended in last report
By transfer to profit and loss account
Capital:-
BALANCE SHEET, 31st December, 1907
LIABILITIES.
&c.
12,0-9,11
$ c.
10,90 4
2,080.1
$12,089.01
So.
As regards raw material, there appears to he no doubt but that sufficient quantities will be furthcoming at about the prices calculated.
12,000 shares at $50 each (fully paid up) 0,00 up by the proper authorities in Peking. 1,000 mortgage debentures 6 $ 0.
per cent.
Less 152 mortgage debentures
held by the company
Reserve fund
Sundry creditors
Unclaimed dividenda
500,0K),0)
76.000.00
Hongkong and Shanghai Banking Cor-
poration (current account) Profit and loss account, balance as per
statement...
ASSETS.
424,00,00 € 48,975.78 35,558.41 967.00
255,547.71
49.252.17
$2,013,301.10
Value of Marine lot No. 5 and remaining portion of Marine lot No. 3 and re- maining portion of Marine lut No. 7 and buildings thereon, as por last $1,065,380.0)
account...
Since expended on alterations
& additions to buildings... 9,676.21
Praya Reclamation (Marine lot
No. 288)
Building theroon
Mansions
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167
weave almost anything in ramie and have woven about 100,000 yards of dress goods, tapestries, muslins and canvas of immense breaking strain, for which the orders are likely to be very large." From information received from various quart- ers it would appear that there are many times more buyers of ramis yarn than ramie filasse. We are advised that there may be some little dimoulty at the outset in establishing & market for our product in the form of fillasse, but that if the filasse were turned into yarn, it could readily be sold, as there is already a big market and an ever increasing demand for yarn.
We are very strongly urged to carry the fibre in to the yarn stage. This would require a considerable increase of capital to lay down a spinning plant. The estimates of probible returns to be obtained from a ramie spinning plant are certainly very temptinz. The directors, however, are not prepared to advise this notion at present, but prefer to wait for advices from home based upon the bulk samples sent forward. Owing to the fact that there are machines in the Far East that can treat ramie filasse, wo аге unable to test the product as we go along, which is a great disadvantage.
tell We cannot, therefore, whether the flasse already prepared is in a sat'sfactory state for the machines, or whether the fibre requires to be treated to a more or less extent. Two local experts in cotton and silk fibres have examined samples from the bulk which have been bleached and combd by hand and state that the product appears to be perfectly degummed and the strength of the fibre animpaired. Samples examined under a microscop bear out this opinion. We must patiently wait for reports from home and must be guided in the future treatment of the fibre by the nature of those reports. The works are now running daily on
a small scale and wil not be increased to their full outpat until we know definitely the re- quirements of the home markets. Sufficient raw material has been bought or contrac'ed for to keep the company g ing on a small scale outil the new crip comes up, by which tim
we shall be prep.red to enter into defuite contracts for the supply of lasso in large quantities. A cablegram has been recived from London this morning in reference to the bulk samples which were sent by Siberian mail, January 28, which roads as follows:-
**
Experts report that the sample marked "B is a very good simple and well døgummed filasse, whose fibre is practically uninjured, It is worth c.i.f. London about 8d. to 101. per lb. Full particulars follow by mail February 19.' The sample marked "B" was a bleached lot drawn from the bulk which is now on route to Europe.
LADY LUGARD INDISPOSED,
"
Lady Lagard was to have distributed the prizes at the Kowloon British School the other day but she was unable to attend and Mr. E. D. Wolf announced that he had received a note from Government House which stated that lady Lugard was unwell, The doctor had just seen her and had forbid len her to go out that day. She was therefore unable much against her will to fulfil ber engagement and present the Mr. Wolfe expressed prises that morning. regret at Her Excellency's indisposition and suggested that the bouquet of flowers which was to have been presented to her that morning
to Government Hous should be forwarded with an expression of the regret of all those present. Lady Lugard went to Shanghai a couple of days later, for the benefit of the sen trip.
The question of export duty is occupying the attention of your Directors and is being taken Balk samples have been prepired and sent home. 180 lb. hava beou sold as a sample and for warded to Americs, 134 lb. on the same terme to Germany, and about 1,3 lb, have been sent to England. These samples will arrive about a In due course reports month from this date. on the same will be forthcoming. In the opinion of the works manager subsequent lots | will be of a better quality than the lots now sout forward, as these are the result of trip tests only. The work has been greatly delayed by a lack of the various mill supplies required in the process. It necessarily takes sme time to arrange for these. The directors have received communications from all over the world in re- ference to ramie, and inquires for yarn quite be. yond possibility of the works in their p es ut shape to fill. The following extract from a letter dated London, January 27, 1968, is quoted for general information :-" That a filasse is ' 'par. fectly degummed' can only be ascertaine i after pioning, weaving and dyeing, and keeping the cloth. On this subject I have some information and have bought it very dearly. What is wanted is yaru. If you will turn your filasse into yarn your market is certain, as the demand for ramic yarn is far in excess of the possibla The "Sinwoopao "states that Lord Li Ching- supply of all the existing ramie spinning mills. fang, Chinese Minister in London, has recently Haring created a demand for ramie fabrics the telegraphed to the Waiwapa stating that, in cruci 1 question is, how to get the yarus to
view of the sction of the United States in weare with, that is in any quantity, for orders reducing their share of the Boxer Indemnity, running into hundreds of thousands of yards | some members of the British Parliament are of and alsorbing hundreds of tons of yarn. Who opinion that the British Government should is to spin filasse? How many ramie combs are accede to the request of Chinese to hand back there in England? I think i can tell you. I❘ Weihaiwei. It is reported that the members of 116,950.64 have studied ramie very thorongbly and osn the Waiwupu were gratified by the news,
-$1,175,056.21
Hotel
216,140.00
375,752.68
Cost of three Chinese Houses on Sections B., C. and D. of Inland lot No. 80 Cost of Kowloon farm lot No. 3 Section A.
Furniture and fixtures, as per
last account
Less written off, as por last
report
$99.958.62
4,958.62
Since added
95,000.00 21,950.64
621,692.68
33,000,00
30,926.90
1,760,875.79
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