Meeting of the Company held at the Head Oifice of the Company, Shanghai, Batance, Suen, 31st December, 1903. on Tuesday, the 22nd day of March 1904. The total number of Shares allotted is Dr. Tis.
10,000, all of which are allotted as paid Capital se aes see see 250,000.00 up to the extent of £5 each for the consideration stated in the Reconstruction Mortgages on Yangtsepoo property... "vee sss 167,460.00 Agreement dated 13th January 1904. Repairs Account 3,673.00 The receipts and payments of the Profit and Loss 49,760.10 Company on Capital Account to the date of this Report are nil.
Taels... 470,893.10 The Preliminary Expenses of the Company are estimated at Fees and Deed Stamps Or. Tis.
Stamp Duty on Capital} £408 10 0 Legal Expenses 350 00 Book Value of Build- Tis.
Counsel's F 17 186 ings, Pontoons, Printing, Stationery and other Bee sis sea ae 288,657.29 Expenses 140 00 Preliminary Charges.14,330.23 Advertising, say 2 00 Less Written off "750.00 13,580.23 £941 86 Carlowitz'& Ca., Cash in hand woe 29,907.65 We hereby certify this Report Hongkong & Shang-W. H. Boats, hai Banking Wiis D. tarry, Directors.
Corporation... 24.75 W. M. Gzo, Bavse, Secretary. Fixed Deposits 9,000.00 Rent Prepaid... 2,500.00 We hereby certify that so much of this Sundry Debtors 5,383.99 Report as relates to the shares allotted Furniture wee 2,780.04 by the Company and to the cash received Less Written. 278.10 in respect of such shares and to the 2,502.84 receipts and payments of the Company on Yangtsepoo Proerty ' 174,336.85 Capital Accounts is correct.
G. R. Wixcrove Auditors. W. Wuicutsox 3
Taels... 470,893.10 Dated the 8th day of March 1904.
Capital.—The remainder of the Authorised Capitol, viz: Tls. 100,000, has been issued to Shareholders during the year, and all shares have been taken up, with the exception of 12 shares representing Tls. 600.00. The amount of Is. 2,775, part of the final call on the new shares, was still due at the close of the year, of which the amount of Tls. 2,075, has been paid since.
Buildings.—Two large godowns for the storage of wheat and flour are now nearing completion, The cost of their erection is about Tls. 33,50, of which Tls. 20,849.22 has already teen paid "ud is included in the present Balance Sheet.
Machinery.—The Directors ure leased to report that the extension of the plant has been successfully completed. The Mill's capacity is. now 2,000 bass of 50 Ibs. of flour per 24 hours, which is rather more than was anticipated. The cost of the additions to the machinery together with ry general overhaul is Tls. 55,647.12, as shawn in the Balance Sheet, while repairs and renewals costing during the year Tls. 721.55 have been charged to Working Account.
Property.—In connection with the new Buildings sine improvements to the pro-porty necessitated xn outlay of Tls. 82.00.
To allow of the erection of the additional machinery the. Mill had to be stopped for three months, hut work was resumed soon after the supply of last year's new wheat op was available Association, Mr. the Board, but bein for re-election.
Auditor.—The Accounts have been audited by Mr. Geo. D. Scott, who offers himself for re-election.
Shanghai, 1st March 1904.
Text read from the printed page and cleaned; old type leaves the occasional error.