of the Court of Directors of the Hongkong The following is the forty-ninth report and Shanghai Banking Corporation to the ordinary half-yearly general meeting of shareholders to be held ut the City Hall, Hongkong, on Saturday, the 22nd Feb: ruary, 1890, at noon To the Proprietors of the Hongkong & Shanghai Banking Corporation.
Gustusnux,—The Directors have now to submit to you a general statement of the affairs of the bank, and balance sheet for the half-year ending 3ist December, 1889.
$70,307.32 balance brought forward from last The net profits for that period, including account, after paying all charges, deducting interest paid and due, and making provision for bad and doubtful accounts, amount to $1,119,310.47, of which after taking out remuneration to directors, there remains for appropriation $1,109,310.47.
rom this sum, the directors recommend the payment of a dividend of one pound and ten shillings per share, which at 4s. 6d, will absorb $400,000, und a bonus of ten shillings vhich will absorb $133,333.33.
ference in exchange between 48. 6d., the rate at which the dividend and bonus are declared, and 3s. 13d. the rate of the day, amounts to $234,668.07.
Text read from the printed page and cleaned; old type leaves the occasional error.