CHINA OVERLAND TRADE REPORT.
321
200.00 Its further progress northward was here stop- 787.64 ped by a high range, so the survey was carried westward up the Chuchiang, passing through 152,381.49 Hsiohsien and Hsinhsingchou to Kanyangchou, and from there round the east side of the lake $ 168,285.49 to Yunnanfu. Later surveys have, however, discovered a new route, which has superseded that originally adopted. The new route leaves $167,799.45 the river at Laokal, following up the Nanhaiho 16.00 or Namti and passing a few miles of Mangtzu. 470.04 From here it keeps to the east of the old survey; passing through Amichon; thence following up the Peitaiko to Yilianghsien and so westward to Yunnanfu.
E
April 17, 1909.]
COMPANY REPORT.
THE HONGKONG ELECTRIC COMPANY, LIMITED.
The Report of the Board of Directors of this Company states :-
!
Gentlemen, Your Directors have the pleasure to submit the accompanying Statement of the Company's accounts for the year ending 28th February, 1909.
The balance at credit of Profit and Loss account is $161,702.92; after deducting Directors' fees ($3,600) there remains a sum of $158,702.92 available for appropriation, and your Directors recominend that this be disposed of as follows: To pay a dividend of 10 per cent. :-
Say $1.00 per share on 60.000 share $60,000.00 To pay a bonus of 2 per cent. :-Say 20 cents per share on 60,000 shares To write of plant account for
depreciation
|
To bad debts
To auditors' fees
To amount carried to profit and
loss account
Cr.
By net profit on working By scrip and transfer fees By interest
A
$ 168,285:49
PROFIT AND LOSS ACCOUNT.
Dr.
To account available for appropria-
tion
$161,702.92
$161,702:92
12,000.00
Ci.
66,382.15
To write off Property Account for
depreciation
11,043.99
To pay a bonus to staff
4,081.30
By account of undivided profit, as
per last account By balance of working account
brought down
5,195.48
9,321,43
152,381.49
$161,702.92
$158,702.92
To carry forward to next account
Directors. In accordance with the Articles 'of Association, Messrs. J. W. C. Bonnar and E. G. Barrett retire, but, being eligible, offer themselves for re-election.
Auditors.-The accounts have been audited by Messrs. W. Hutton Potts and J. Cox Edwards (the latter in place of Mr. C. W. May who is absent from the Colony), Messrs. W. Hutton Potts and J. Cox Edwards offer them selves for
re-election.
J. W. C. BONNAR,
Chairman.
Hongkong, 14th April, 1909.
STATEMENT OF ACCOUNT TO FEBRUARY 28TH, 1909. LIABILITIES.
Capital :-60,000 shares each $10
paid up
Sundry creditors
Dividends unclaimed
Suspense account
COMPANY MEETING.
THE CHINA FLOUR MILL COMPANY LIMITED.
The fourteenth general meeting of share holders of the China Flour Mill Co., Ltd., Shanghai, was held last week at the office of the General Managers, Messrs. Walter Scharff and Co., No. 33B. Nanking Road. There were present Messrs. A. McLeod (presiding), H. J. Such and Walter Scharff (directors), R. Kupsch, A. E. Charlton, John Watson, A. S. Wilson (Messrs. Stokes, Platt and Teesdale), I. Brook, G. A. Schneider and Chang Yuen-ching, re- presenting 1,710 shares.
The Chairman in the course of his address said: $600,000.00 turning to the accounts you will see that 7,122.50 The loss incurred on the year's operations 6,793.29 amounts to Tls. 28,964.47, to which we propose 1,744,89 to add : Depreciation on Machinery, Mill stores Balance of profit and loss account 161,702.92 and Furniture Tls. 5,937 83; General Manager's
Plant, cost of, as per
ASSETS.
last account Less amount provided
for depreciation
$483,308.60
58,308.60
$425,000.00
71,382.15
Cost of plant, since
added
Property, cost of land
and buildings as per last account
$123,612.10
Less amount provided
for depreciation
13,612,10
$110,000.00
1,043.99
added
Cost of buildings since
Installation material, stock of
Stores and coal, stock of...
Tools, &c., stock of ...
Furniture, cost of, as
per last account
$620.00
Cost of furniture, since
added
57.00
Insurance, value of portions unex-
pired of policies
Fundry debtors
Cash with agents
Hongkong and Shanghai Banking
Corporation
WORKING ACCOUNT.
Dr.
To agency and office expenses
To rent and taxes
To insurance
TEL
Commission, Directors' and Auditor's Fees, Tls. $ 777,363 60 | 9,700, making a gross total of Tls. 44,602,30. To meet this deficiency it is proposed to transfer the Reserve Fund of Tls 50,000 to Profit and Loss account which with the balance brought forward from last year, Tls, 5,994.70, and for- feited dividends 'T'ls. 827, shews an amount of Tls. 56,821. 70 at credit of Profit and Loss BC- count; and deducting from this the sum of Tis. 44,602.30 as above, leaves a balance of Tls. 12,219.40 to be carried forward to credit of new account. You will notice in our Balance sheet the amount of Tis. 152230.27 against Sundry Creditors which includes our overdraft with our bankers, but this is practically covered by our stocks in hand on 31st December 1st, valued at Tls. 142,39796, of which more than half has since been sold and paid for, and although the the mill at the present time is working only for twelve hours a day there are good prospects of business improving in the near future, war. ranting regular 24 hours run per diem.
$496,382.15
111,043.99 45,368.24
14,396.52
1,719,30
YUNNAN AND THE YANGTSE.
CONSTRUCTION OF FRENCH RAILWAY UP
RED RIVER VALLEY.
CORRESPONDENCE.
CHINESE BURIAL GROUNDS,
[TO THE EDITOR OF THE HONGKONG DAILY PRESS."]
SIR, -It struck me as rather strange that Mr. Lau Chu Pak in his speech on the cemetery question at the Sanitary Board should have complained of the barren appearance of Chinese cemeteries. I have not the pleasure of Mr. Lan's acquaintance but I recollect that a little while ago he was prominently identified with a movement to build, I think, a temple to Confucius in Hongkong, and I assume therefore that he is a devout disciple of the great sage.
Until I made some acquaintance with the philosophy of Confucius it had always appeared worship their ancestors as the Chinese do, should. to me strange that a people, who so religiously be content to allow their cemeteries not only in Hongkong but everywhere else apparently, to look so barren, so untidy and so neglected. tion of the sayings of Confucius, I came across But happening one day to be reading a transla what I took to be the explanation of this seem. Chinese cemeteries. I have turned to that ing indifference to the appearance of the
page again, and it may be interesting to your readers generally if I quote this saying of Confucius —
:
Places of burial should not be made to resemble pleasure gardens. Rather they should be brought into harmony with those who weep and mourn. It was in this light that the ancients regarded them. To feast in luxurious apartments of the dead is an insult to the memory. More suited is some rugged height unfitted for the plough, where the pure and simple homage of the heart can bo substituted for these vain frivolities." Is it not, therefore, quite in consonance with Chinese ideas that Chinese cemeteries should be as barren and desplate as they are? Or are they ceasing to believe in the philosophy of Confucius? Mr. Lau, I notice, said he voiced the feelings of the large community he represents.---
Yours etc.
OMEGA.
THE COLONIAL PURSE.
Not much comfort is to be derived from a study of the statement prepared by the Colonial Treasurer of Hongkong showing the total recepts and expenditure in the year 1908 published in the Gazette. Without going into details we may note that the receipts under the eight heads show a total of $6,104,207, which falls below the amount estimated by $123,682. But this is not all. Payments, too exceed the amount estimated by $1,750,946, so that it will be seen that 1908 has not been a particularly bright financial year. Licences and internal revenue not In his book Yunnan, the Link between India otherwise specified are responsible for a large 677.00 | and the Yangtse, Major Davies writes:-
decease in the revenue expected, being $31,761 The French colony of Tonkin lies in a much less than estimated, but the real explanation 4,500.00 better position than Burma for communication of the deficit is that land sales have 28,007.74 with Yunnanfu and with the eastern part of the only realised $69,358 against $300,000 ex- 23,139.13 province. Not only is the distance shorter, but pected. A deficiency of $230,641 is not easily the country is easier for a railway. A line has made up. The majority of the heads of expen- now been constructed from Haiphong, the sea- diture are larger than anticipated, the largest port of Tonkin, up the Red River valley to being under the heading of miscellaneous, which $ 777,363.60 | Laokai, on the frontier of Yunnan, and this has absorbed $169,420 more than estimated, railway is ΠΟΥ being carried on to while the Public Works recurrent have cost Yunnanfu. The line originally surveyed $74,836 more than expected, and the military left the Red River at Hsinkai, which lies expenditure is $64,229 in excess of that contem- $8,000.00 above Laokai, passed through the treaty port plated. The financial position may not be as 3,937.86 of Mengtzu, and followed the main road from bad as it looks, but it needs some explanation to 2,978.50 there to Kuanyi on the Chuchiang.
make us feel optimistic over it.
55,129.53
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