The Directorshavesatisfactionin announcing that the hopes held out by Mr. Pelegrin, in his report in 1867, have been at last realised.
The Street lights amount to 171 against 167 in 1869, and no increase in this direct be looked for, so long as the Municipal heres to its determination only to the lamps on the Bund.
The consumption of private clients has also increased, although only one additional cousumer has been gained. Last year the private consumption was only two-thirds of the total this year it amounts to nearly. three-quarters.
Five new European subscribers have been gained. But the hopes of an increase in native consumption have been disappointed. The Directors have on the contrary to report a Acerease—the number of Chiiese consimers having fallen from to 4, in consequence of the closure of three theatres. Every facility has been offered to the Chinese, in the shape of cheap fittings and lease of material; but without success. The Directors hope, however, that the reduction in price from 17 to 15 cents for the cubic metre, may induce some Chinese to try the new method of light.
The following table, which gives the exact figures of the manufacture, eourumption, and escape, show a decrease in the latter from 44 to Bkporcent. This result is the more satisfactory, a8 the mains have had to be removed and relaid in consequence of repairs to the Bund and drainage works. The cost of this has been bore half by the Municipality, bale by the ial position of the Company is The year ends with a cash of Tls. 3,045, and the only outstanding debt is to Messrs Meynard and Ca., for plant, part of which has arrived, and part is shortly expected.
According to the decision at the last meeting, the sumo Ts. 2,400, received from the Municipality and representing the S per cent interest guaranteed by it on the Company's capital, was employed to reduce the mortgage, whi s- 10,800 to ich was thus lowered from 'T!
Tls. $400. Subsequently, by the new area ment sanctioned at the meeting held on the Sth July, Tls. 3,000 of this sum was converted into 16U new shares, which were taken up by the Municipal Council in accordance with the agreement then entered into.
"The Capital therefore now stands at Tls. 38,000, divided into 760 shares of Ts. 50 each.
Phe Directors propose to divide the profits, which amounted, on the lst December 1 to Tls. 7,218.
Half to Reserve Fund say...... Tls. 3,609.37 Dividend on The. 38,0001" sri. 3 Q40 tls 3 Carried to new account..
Text read from the printed page and cleaned; old type leaves the occasional error.