440
Amoun
written off for depreci- ation in
May, 1908
103.06
$4,796.97
Added during
1908.......
1,460.24
6,257.21
Good debts due from customers.
Sundry debtors
Cash in hand
Cash at bank
.$18,063.10 8,854.41
Fire Insurance premia and licenes
unexpired
Section E. of Inlond Lot
No. 19 and the build-
ings thereon
60,000.00
Marine Loto. 2c and
the buildings thereon173,917.82 Kowloon Inland Lot No.
1,20 and the building thereon
27,500.00
Marine Lot No.
293 as per
account26.711.00
reclamation in
1908
...25,620.00
52.331.00
San Jacinto land aud
last
Expended for
buildings, Manila 32.941.45
THE HONGKONG WEEKLY PRESS AND
everything that has been done. If you have! not had all the information you want, let us know what you want, and you can have it.
Mr. SCPIESS-I wrote you a letter asking you to call a meeting of shareholders, and you told me it was not the thing for a company to have & private meeting. If we don't pay a dividend I bear the brunt. I want something out of my share at the end of the year, and if I don't get it I want to know what is going on. If I ask 290,637.52 yon what is going on, you have got to refer to 240.785.45 the books.
36,340.70
Mr. J. II. SETH-But you make out the expenses every mouth.
You know how much the commission is, and what the other expenses 26,917.51 amount to.
Mr. SCPIESS-But there are other expenses I 11,712.14 know nothing about.
346,690.27
$1.957,995.47
Dr. To balance
PROFITS AND LOSS,
Cr.
CONTRA.
By balance forward from 1907
account
By net profits, Hongkong. China
and Manila
Mr. J. II. SETH-What other expenses? All the invoices are handed to you.
The CHAIRMAN-Personally I had not the slightest idea that you had not all the informa- tion you wanted. Mr. Seth considers you have. As regards the half-yearly meeting, I may say at once that I considered it quite unnecessary that such a small Company should have such a meeting. I think the shareholders will agree with me when I say it would be a ridiculous thing to waste their time in that way.
Mr. Scriess-I endeavour to make the business prosper. If shareholders won't help me, then I urist resign.
Mr. J. H. SETH-The working of the Com. pany has nothing to do with the financing of it. Mr. SCPIESS-If I know the cost of every. thing, then I can bring the money in.
The CHAIRMAN-It is a great pity that you never said so before.
Mr. J. H. SETH-I have often told you to come along and see the books whenever you wanted to.
$82,938.14 Mr. SCHIESS- That is not enough for me.
Mr. E. SETH-I think the General Man $82,938.14 agers are quite capable of conducting the
management of the Company.
$6,438.19
76.499.95
Mr. Scriess-They must be very clever to keep a year's working in their heads.
Mr. J. H. SETH-The General Managers have looked after the best interests of the Company.
Mr. SCPIESS To successfully manage the business I must know what is expended and $82,938.14 what profit, if any, has been made.
COMPANY MEETING.
THE PARIS TOILET CO., LD.
The third general meeting of shareholders in the Paris Toilet Co. Ld. was held at the offices of the General Managers, Victoria Buildings, ou on the 22nd inst. Mr. H. Percy Smith pre- sided, other shareholders present being Messrs. J. Hennessy Seth, E. Seth, C. Metzinger, W. Schmidt, E. Grant Smith, Li Fuk Tsau, Leoung Wong Cheung; L. A. Marcal and J. O. Scpiess (manager)
The CHAIRMAN, after reading the notice calling the meeting, said-Gentlemen, you have had the report and accounts in your hands for sometime, and with your permission we will take them as read. In the report we have endea- voured as far as possible to explain the reason we have not been able to show sufficient profit to enable us to pay a dividend, and I have nothing further to add on the matter. but shall be be pleased to answer any questions.
After a period of silence the Chairman said that as there were no questions he would the adoption of the report and accounts.
Mr. SCPIESS-I have something I would like to mention. I would like to have more over- sight of the books, and to know more about the expenses at the end of each month.
propose
If you
keep me as manager you must let me know the monthly expenditure. Sometimes for four or five months I don't know whether there is a cent in the bank or not. I must know the position of affairs every month. In June last year I asked that a half-yearly meeting should be called, so that I could explain the whole thing to the shareholders.
The CHAIRMAN Personally, I did not know that you had not all the information you wanted. As you actually make out the statement of expenditure I should have thought you knew
Mr. J. H. SETH-What is it we spend that you don't know about ?
Mr. SCPIESS-You are spending too much moucy.
Mr. J. H. SETH-Come into the office and see. The books are open to you at any time.
The CHAIRMAN-You certainly never asked mo about anything excepting the half-yearly meeting, which I considered absolutely un- necessary, and I think every shareholder agrees with me.
If there are no other questions, I will proposa the adoption of the report and
accounts.
Mr. LI FUK TSAU seconded, and the motion was carriod.
On the motion of Mr. GRANT SMITH, seconded by Mr. ENOS SETH, Mr. J. Cox Edwards was re-elected auditor.
The CHAIRMAN - Gentleman, I have to thank you for your attendance. I am sorry I cannot say that dividend warrants are ready, but we must hope for better things later on.
May 24, 1909.
FAR EASTERN TELEGRAMS
PLAGUE AT YOKOHAMA.
Tokyo, May 17th. The pest has broken out at Yokohama, and several fatal cases are reported.
Tokyo, May 18th. The outbreak of pest at Yokonama is serious. The epidemic broke out in the poorest quarter of the city and is believed to have been conveyed (by means of the rice imported from Formosa.
The premises of 200 rice-dealers have been disinfected.
|
THE BRITISH SQUADRON.
The British China command of Admiral Yokohama for Nagasaki.
THE
Tokyo, May 17th. Squadron, under the Lambton, has left
FROM THE "CHUNG NGOI, SAN PO"]
PORTUGUESE MINISTER AND
AN ALLEGED REBEL.
Poking, May 23rd.
The Portuguese Minister recently addressed to the Waiwupu a request for the release of a member of the Anti-Manchu Society, named Yung Kit, who was arrested by the Chinese authorities at Shanghai. The request was refused.
PROPOSED EMIGRATION
AGREEMENT.
Peking, May 23rd. The Waiwupu intends to negociate with the Foreign Powers for new agreements with respect to the emigration of Chinese labourers.
MR. CLAUDE W. KINDER, C.M.G.
Mr. Kinder, as already announced, has retired from the Imperial Chinese Rallways of North China and is now on the train bound for England after thirty-one years of loyal and devoted service. No foreign employe of the Chinese Government ever left China with a higher reputation for ability, energy and unswerving integrity. His work speaks for itself. The railway built by him is one of the most valuable assets of the Chinese Government. From the revenue earned by it has been defrayed, among other things, the cost of the construction of the Poking-Kalgan Railway. It is the security for various railway loans obtained abroad.
Japanese papers to hand announce that Mr. Kinder has been appointed Advisory Engineer to the Yu Chuan Pu, resident in London. We wish that the statement were true. We wish that Mr. Liang shih-yi, the present Director- General of Railways, could have seen fit to shew some appreciation of the services rendered by Mr. Kinder, but we have been disappointed. Not only has M. Kinder left China without the smallest appreciation of his services: he has even been deprived of considerable sum to which he was, by procedure and practice, entitled During The report was as follows:-The General his long service Mr. Kinder had only a very briof Managers beg to submit to the shareholders holiday-fifteen months in all between September their report on the Company's business for the 1878 and April 1909. On leaving he was entitled year ending 31st December 1908 with a statement to the sum of £3,500 pay due in place of leave of accounts to that date. We regret we are
not taken, but his application for this sum was unable to show a larger profit on the year's
ref used. Mr. Liang Shih-yi offered him working in spite of doing a greater volume of instead a bonus of £600 and an engagement of three years an Consulting Engineer in London business but our expenses have increased con- siderably although we have, with the help of a salary of £1,000 per annum. In other words Mr. Kinder was asked after 31 years service to your Manager, Mr. J. O. Scpiess, done what we could to reduce them. Our profit on sales has do three years advising work to the Yu Chuan beon entailed by the great drop in exchange Pu in London for nothing. and by the high price of hair at present prevail-naturally refused this appointment. Here is his iu Europe. The net profit for the year including $58.82 brought forward from last account amounts to $28.29 which we propose to carry forward to next year.
Mr. Beattie was elected auditor for the year under review but owing to his having to go away he resigned and Mr. J. Cox-Edwards was appointed to fill the vacancy. Mr. Cox-Edwards being eligible offers himself for re-election.
letter:
Mr. Kinder
April 2, 1909.
II. E. Liang Shi Yi,
Director-General, Peking, tion to your offer to make me Advisory Doar Sir:-After giving more considera- Engineer to the Board, residing in London, I have decided that it is wisest not to scoopt the position.
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