300
The Report was as follows
The directors beg to submit to shareholders a statement of the Company's accounts for the year ending 30th June, 1909.
The profit for the year, including the sum of $3.95 brought forward from last account and after allowing for bad and doubtful debts, amounts to $6,372.19, and your Directors recom- mend that this amount should be absorbed by writing off fixtures and fittings $5,590.86 and carrying forward the balance, $782.03.
It will be noted that of the stock which was written off when the capital was reduced, there is on hand an amount estimated to be worth $15,000.00
Directors. Messrs. E. H. Hinds and G. C. Moxon, the retiring directors, are eligible for
re-election.
Auditor.-The annexed accounts have been audited by Mr. H. Percy Smith, who offers himself for re-election.
G. C. Moxon,
Chairman
Hongkong, September 1st, 1909.
PROFIT AND LOSS ACCOUNT
THE HONGKONG WEEKLY PRESS AND
[October 2, 199.
LOCAL SPORT.
HONGKONG CRICKET CLUB.
8
In the absence of Mr. E. A. M. Williams, Mr. Carr acted as Secretary.
steamers, and had it not been for these unfortunate occurrences there would have been a moderate profit on the working of the steamers instead of a loss as shown in the ac- counts. This, and an increase of over 10 per cont. in the price of coal has affected the net earnings of the Company's steamers to a The annual meeting of members of the Hong- considerable extent, and I regret that at pre-kong Cricket Chib was held at the pavilion sent there are no signs of a possibility of lower on Tuesday, Mr. F. Maitland presiding over prices for fuel in the near future. Turning to good attendance. the accounts, though there is perhaps but little that needs explanation, I would draw your at- |
The CHAIRMAN said:-Gentlemen, the Report tention to the item under Exchange Account on the debit side, which shows a very large in- and Accounts as presented to members I will crease on previous years and is entirely due to take as read. The former shows a very busy the adverse state of coast exchange and to the season, and we have to congratulate Mr. Richard Hanock on his splendid batting average high rate of discount at which our earnings at the coast parts have had to be remitted. (103.77) and Mr. H. D. Sharpin on his fine bowl- There I trust that the proposal of the Generaling performance (10.17) per wicket. Managers and Consulting Committee as to the has been a new departure in making up the appropriation of the profit and the transfer averages, your Committee having decided of $36,950.33 from Reserve or Depreciation to include League Matches; in fact, they Account towards the writing down of the values were practically forced to do so from the of the Company's properties, will meet with fact that if they had been omitted as in your approval, for though the steamers are past seasons, no one' would have played maintained in a state of high efficiency it is the qualifying number of innings under most necessary that a sum should be put the rules. I am delighted to be able to state aside each year for depreciation. The new
that we shall receive cricket and lawn tennis $1,550.00 steamer Haiyang arrived in October last and representatives from both Shanghai and Straits 426.62 has proved excellently adapted for our trade Settlements in November next, when I trust we 6,372.89 and economical in working. We have
shall witness some keenly contested games, deavoured to dispose of the Haimun dur- and may victory go to the best sides. The $8,349.51 ing the year, and though there have been challenges were sent by the Hongkong several enquiries no actual offer has yet been Cricket Club, as in the past, but I would $3.95 made. The result of the present year's working, remark that in choosing the men to do
battle for so far, shows moderate results, and while we
Hongkong, the Sélection hope to make some slight economies in working, Committee will draw on the whole Colony, so it until the trade of China recovers from behoves all cricketers and lawn tennis players the over-supply of a year
two ago,
to get into regular practice as early as possible. and confidence generally is restored, it is! Besides the Interport Matches it is anticipated difficult to forecast any great improvement that we shall in the coming season arrange a in the outlook for shipping in the East. triangular cricket contest between the Navy, Before proposing the adoption of the report and Army, and Civilans, and also that the Club will accounts, I shall be pleased to answer any play the full League representatives two test questions that may be asked by shareholders matches. Then we have entered an eleven to the best of my ability.
for the League Competition, so prospects for a busy and interesting season look bright.
For the year ending 30th June, 1909. Dr.
To directors' and auditor's fees To bad and doubtful debts To balance
Cr.
By balance from last account .. By dividend from invest-
ments
By transfer fees...
94.00 16.00
..8,235.56
By balance of working ac-
count
8,345.56
$8,349.51
PALANCE SHEET 30TH JUNE, 1909.
LIABILITIES.
To capital-15,000 shares each fully
paid
To sundry creditors
To unclaimed dividends.
To Hongkong and Shanghai Bank,
overdraft
To old stock as per contra
$105,000.00 15,655.67
27.80*
To profit and loss account
ASSETS.
By stock on hand (as per maua-.
ger's certificate)
$113,017.34
By old stock on hand (estimated
valne)
By Hongkong snd Shanghai Bank,
dividend account
By sundry debtors
By fixtures and fittings
By investment at cost
By cash in hand
15,000.00
or
en-
No questions were asked, and the report and accounts were adopted on the motion of the CHAIRMAN, Seconded by Mr. T. F. HOUGH.
The CHAIRMAN That concludes the business of the meeting, gentlemen. I am sorry we have not got a better report, but I hope next year we shall be able to show you something better. Many things may happen between this and then,
Regarding the accounts, I regret very much that there is a small loss on the year's working, but I predict that next year we shall be in a position to repay some of the debentures. Au exceptionally large amount has gone into the ground account owing to the heavy wear and tear of last season. Then your Committee
On the motion of Mr. HOUGH, seconded by Mr. CHAN TONG, the Hon. Mr. W. J. Gresson 19,232.76 and Messrs. J. W. C. Bonnar and R. Shewan 15,000.00 were re-elected members of the Consulting
6,372.89 Committee.
Mr. DUPREE proposed, the CHAIRMAN sec-have decided that no free teas shall in future $161,289:12 onded, and it was agreed that Messrs. W. H. be given except to ladies, whom we hope. Potts and A. R. Lowe should be re-appointed to see in large force at our cricket matches auditors.
as well as at the lawn tennis tournament. We owe special thanks to Mr. George Grimble and Mr. E. A. M. Williams for their services in arranging the concert recently held, which proved a success, but I am not at the moment in a position to give the exact amount of profits, as a few members have not yet returned the tickets nor paid for them. For these and other I anticipate a fair surplus in next Before accounts to redeem some debentures. moving the adoption of the Report and Accounts, I shall be pleased to answer any questions to the best of my ability.
There being no questions, the report was the motion of 'the CHAIRMAN, adopted, on seconded by Mr. JUPP.
27.80 19,440,57
11,590.86 980.00 1,232.55
$161,289.12
DOUGLAS STEAMSHIP CO., LD.
The twenty-sixth ordinary general meeting of shareholders in the Douglas Steamship Co., Ltd., was held at the offices of the Company at noon on Saturday. Mr. H. P. White presided, and there were also present: Hon. Mr. W. J. Gresson and Mr. J. W. C. Bonnar (Consulting Committee), Mr. J E. Gomez (secretary), and Messrs. T. F. Hough, W. S. Dupree and Chan Tong
The SECRETARY having read the notice convening the meeting,
as
THE MERCANTILE BANK'S
DIVIDEND.
Mr. E. A. Ormiston, Manager of the Hong- kong Branch of the Mercantile Bank of India, Ltd, kindly informs us that he is in receipt of telegraphic advice from the London Office of the Bank that an interim dividend of 6 per cent, per annum, free of income tax, will be paid on the A & B shares of the Bank for the past half year to 30th June, 1909.
}
It has been estimated that the total cost of the Empress Dowager's mausoleum will be Taels 7,224.842, of which figure Taels 5,517,420 will be spent for materials and labour on the mausoleum itself. The balance is for the walls buildings in which sacrificial worship will be held, and the barracks for troops who will act as guards.
The CHAIRMAN said:-Gentlemen,-We will, with your permission, take the report and accounts
read. It is a matter of great regret that we are not able to The damage done at the Loochoo Islands come before you with a more satisfactory state- by the recent typhoon is officially reported as
"Two lives lost, two domestic animals killed, 353 ment, and are not in a position to declare a dividend, but as you are aware the past year dwelling and 538 unoccupied houses destroyed, has been one of extreme and continued depres- 432 dwellings and 113 unoccupied houses sion, and while cargo has been scarce there has partially demolished, 5,382 dwellings and 2,152 been an ample supply of tonnage to compete for unoccupied houses damaged, two nocupied the moderate offerings, and rates suffer accord-houses washed away, 13 vessels carried away and 15 vessels wrecked." The agricultural crops ingly, while working expenses are increased as
are expected to suffer a decrease by about 20 exchange declines. Reference has been made in the report of accidents to two of the per cent.
|
reasons
Mr. F. MAITLAND was re-elected president, on the motion of Mr. CARR, seconded by Dr. FORSYTH, and the Committee was constituted as
F. follows: Messrs. Maitland (President), W. C. D. Turner, T. E. Pearce, H. R. Mackin, C. A. Carr, H. Hancook, Capt. Garnett, R.A., Capt. Baird (Buffs) and E. Ĉ. Oliver, R.N.
An extraordinary general meeting was held immediately afterwards.
Byelaw 12 was altered by the substitution of the word " twenty for "thirty."
+1
Bye-Law 15 was amended to read:-From 1st October, 1909, all new playing Members not Officers of H.M.'s Navy or Army shall pay an entrance fee of $20.00, All new playing Military Members shall pay an entrance fee of $10.00, and all new playing Naval men stationed in the Colony shall also pay an entrance fee of $10.00."
(This resolution does not affect the status of a Naval Subscriber under Bye-law Another resolution that Bye-Law 22, 21.)
Honorary Members or Naval Subscribers read" Naval Subscribers under Bye-Law 21 and Honorary Members," was carried.
No comments yet.
Private notes are available after approval.