(
August 16, 1909.]
doubtful debts, do- ducting all expenses and interest paid
and due,
3,487,212.33
CHINA OVERLAND TRADE REPORT.
BALANCE SHEET 30TH JUNE, 1909.
LIABILITIES.
Capital 50,000 shares of $50 each
fully paid up
$5,493,446.41 | No. 1 Dock extension account
Marine insurance account
85,493,446.41 | Sundry creditors
STERLING RESERVE FUND.
To balance... £1,500,000 (a ex. 2- $15,000,000.0 +
(invested in sterling securities.)
By balance 31st December, 1908,
£1,500,000 @ ex. 2-- .....
Palance of profit
brought
forward
from last account €387,078.77 Profit for the half-year
$15,000,000.00
euding 30th June
1909
76,609.93
$15,000,000.00
463,688.70
Less cost of reorgaui.
$15,000,000.00
zation to 30th June, 1909...
37,776.34
SILVER RESERVE FUND.
To balance,
$15,250,000.00
$15,250,000.00
By balance 31st December. 1908 $14.500,000.00 By transfers from Profit and
Loss account,
750,000
$15,250,000.00
HONGKONG AND WHAMPOA DOCK CO., LTD.
The report of the Board of Directors to the ordinary half-yearly meeting of shareholders, to be held on Monday, the 23rd August, 1909, is as follows:
Gentlemen.--The directors have now to sub. mit to you their report, with a statement of accounts for the half-year ended 30th June, 1909.
The net profit for the six months,
after paying interest due and all charges, amounts to
$ 76.609.93
To which has to be added the balanco
brought forward from last account 387,078.77
and from this have to be deducted— Directors fees (half the
ASSETS.
Aberdeen.
$2,500,000.00 221,000.00 88.442.77 1,941.123.42
Value of Aberdeen Docks, as per
last statement
Value of Kowloon Docks
Kowloon.
425,912.36
$5,176.478.55
as per last statement $2,546,927 01 Amonut paid o
on account
of yard plant, boiler shop extension, boiler smith's shop, engine shop. blacksmith's
shop, general office extension, and time office extension,
59.158.00
> 100,000.00
--2.606,085.00
100,237.60
No. 1 Dock Ertension Account. Amount paid as per last
Statement Amount expended dur- ing six months 1st January to 30th June, 1909
10,334.98
Cosmopolitan.
Value of Cosmopolitan Dock, as per last
110,572.58
147
¦ BOYCOTTING THE PORTUGUESE.
OUTCOME OF THE "FATSHAN ** AFFAIR.
Our Canton correspondent writes on the 6th inst. :-- An important meeting of the Self- Government Society was held yesterday evening, and thousands of persons, representing every section of the people, attended the meeting. Chan Wai Po was unanimously elected Chair- man, and he opened the proceedings by reading the circular convening the meeting, a trans- lation of which I sent you yesterday. The -Chairman then informed the meeting that he had been handed a copy of a letter which had been written by Messrs. Butterfield and Swire to the British Consul to come to some settle- ment of Noronha's case. He said that the audience could see from this that Messrs. Butter- field and Swire had done all in their power to bring the Fulshan incident to a satisfactory conclusion, and had made ample compensation to the deceased's family. The Chairman then called upon a ok Wing Yu, who had full power to represent and act for Messrs. Butterfield and Swire, and Po Yu Tui, acting on behalf of the family of the deceased Ho Yu Ting, to come to a final settlement. They informed the audience that they had arrived at a satisfactory settle- ment, and thanked the Society for the interest and help they had given to the case.
The Chairman then said that the Fatshan affair as regards Messrs. Butterfield and Swire was concluded, and he proposed that they should send telegrams to their countrymen informing them of this fact. The audience approving, & telegram was thereupou drafted.
The Chairman then resumed. The Con- sul for Portugal had not done his share of the business. He had refused to re-try Noronha or to offer an apology. He had falsely accused the Society of bribery, and had refused Viceroy Chang's proposal to hold a joint trial. The Chairman asked the assembly to decide on some form of retaliation for this insult to the Society, and to the Chinese nation in general. As far as he could see, all they were able to do was to request the Portuguese Consul to hold another trial, and to be careful in their future con- nections with the Portuguese, There were very few Portuguese firms, and not much business was carried on with the Chinese. The Portuguese were mostly employed by other foreign firms, as clerks, etc., and some were employed in Chinese firms. The Portuguese were a violent people, as they could see from the murder of Ho Yu Ting. It behove them, there. fore, to have no more business transactions with them, lest they be treated as their poor country. man Ho Yn Ting had been. They should have no further dealings with any firm, Chinese or $5,176.478.55 foreign, who employed Portuguese clerks or assistants; and he asked the audience whether they approved of this course.
$463,688.70
Less cost of re-organization to 30th
June, 1909
statement
303.000.00
37.776.34
$425.912.36
Less amount since
written off
3.000.00
Value of tugs, dredgers, launches
and lighters
$5.000.00
750.00
Sundry debtors...
300,000.00
498.867.89 205,978.49
Value of material ex.
5,750.00
pended on work in progress
hand...
95,140.88
1.259,833.71
usual charge)
Auditors' fees
leaving available for appropriation $420,162.36
The Directors recommend that a dividend for the half-year of 3 per cent., or $75,000, be paid to shareholders, and the balance $345.162.36 be carried to the new account.
Value of material on
REVENUE ACCOUNT.
rent
To fire insurance
During the half-year under review, a contract was concluded, with the Sze Yip S.S. Co., Ld.. | To interest for the construction of a twin screw steel river To crown steamer for their Kongmoon trade, and this vessel will be ready for launching some time in September. Other new work in hand consists of light draught steel river steamer, six steel lighters, six wooden lorchas and two moter boats, all for Manila.
To office expenses, salaries, sta. tionery and rent of head office To telegrams To legal expenses
To marine insurance account To profit
The two launches mentioned in the last report as being built at the Cosmopolitan Dock for stock have been sold. The launches K. 7 and C. 3 have also been sold, and the new launch referred to in last report as under construction By not earnings at Kowloon for harbour service has been launched and taken the place of the former.
A light draught river gunboat built by Messrs. Yarrow, Ld., for the Portuguese Government for service in Macao was re-erected at Kowloon Dock and delivered to her owners.
The boiler shop extension at Kowloon Dock has been completed and the shop is now in full working order.
The new head office at Kowloon Dock, which is part of the scheme of reorganisation, is on the point of completion and will be ready for occupation by arrival of the newly-appointed Chief Manager.
The extension of No. 1 dock progresses slowly, but the work has not prevented ships being accommodated whenever required.
W. J. GRESSON, Chairman.
Hongkong, 9th August, 1909.
-1,354,974.59
$54.274.09 4.073.05 5,060.15
25,916.64 1,561.74
736.70
10,336.50
76,609.93
$ 178,568.80
$ 178,568.80
$ 178,568.80
DARKER CHINA TEAS.
The first consiguments of the season's China teas are now reaching the English market, says a recent London paper.
하
The quality of the first consigument of 5,000 packages was in many cases above the average, said the China tea expert of a leading City firm.
This year the Chinaman has made his tea of Westera tea drinkers, who have hitherto rather more 'coloury in the cup,' to suit the taste
found China tea a little too light in colon. This is a development in the process of manufacture which results in the colour being brought out in infusion, and does not mean that the tea has been doctored."
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Kong Shui Cheun, an influential member of the gentry, then stood up and proposed that the Chairman's suggestion be adopted; and he further moved that telegrams be sent to their compatriots in every country to refrain from having any business transactions in future with firms employing Portuguese.
Ho Wai Nung seconded the proposal, and the audience unanimously concurred, signifying their approval by shouting and clapping most uproariously.
After partaking of refreshments, the audience dispersed, and the meeting was postponed till this evening.
HONGKONG UNIVERSITY FUND.
$25,000 FROM H. K. AND S. BANK.
We are informed by Sir Paul Chater, Hon. Treasurer of the Hongkong University Scheme, that the Hongkong and Shanghai Banking Corporation have contributed the 8um
of 850.000 towards the Endowment Fund.
DONATION FROM MESSRS, JARDINE,
MATHESON AND CO.
Wa are authoritatively informed that Messrs. Jardine, Matheson and Co. have con- tributed a sum of $25,000 to the Endowment Fund of the proposed Hongkong University.
No comments yet.
Private notes are available after approval.