Pho report of the directors to the shareholders in the China and Manila Steamship Ca., Ld, has been issued. It shows that the net profit including the balance brought forward from last year amounts to $55,407.27. It is proposed to pay a scrip dividend of 20 per cent (absorbing $50,000), to place $5,000 to Reserve Fund, and to carry forward the balance of $407.27 to new account. During the year the steamer Zafiro was sold to the U.S. Government, being too small for the trade, anda new and much larger steamer to be called the Diamante has been purchased.
The China Sugar Refining Company's report has not yet appeared, but I hear that the net profits are something like six lakhs, that a final dividend of 12 per cent is proposed, that a sum of $160,000 is to be carried to reserve, that $60,000 be written off for depreciation, and $25,000 carried forward.
The Hongkong Hotel Co.'s report, which will be issued on Monday, will show a larger profit than any previous corresponding half-year, and it is proposed to pay a share), to pass $15,000 to reserve fund, to final dividend of 6 per cent (or $3 per
write off $8,000 odd for depreciation, to place $6,000 to repairs and renewal account, and carry forward the balance (some $800) to new account.
Text read from the printed page and cleaned; old type leaves the occasional error.