The annual general meeting of shareholders in the Shanghai Steam Navigation Ca. was held Friday, at the offices of the agents, Messrs. Russell and_ Company. There were present:—Messrs. F. B. Forbes (in the Chair), F. H. Bell, A. G. Wood Wirectors), G, "T. Addis, W! H. Anderson, Butler, J. Buchanan, M. W. Boyd, J. Bradfield, RE. Brown, A. Burrows, W. Broscheb, Choping, W._A. Cornabé, H. Cameron, 8. Daly, L. Ewald, Gilbert, R.'S. Gundry, P. G. Hibbe, song, RW. Little, W. Leslie, Leekee, J. W. B.' Jamieson, J. Jacques, Koo-fung-
Mackenzie, P. Maclean, A. Milsom, J. G. Pardon, T. D. Skelly, C. L. Simpson, C. Thorne, A. Thurburn, H. Vachell, G. H. gether 18,590 shares. a Wheeler, and D. Ward, representing alto-
been read, senate e 1X calling the meet, vit
The Crarmuan said—It may be well for me, in opening the business of the meeting, to explain my presence in the chair. As Messrs. Fitz and Hitch were obliged to leave Shanghai before the meeting, and as the Board was then reduced to two Direotors, I was elected to serve for the few remaining days. The Directors, in submitting the report to you, will ask also for your confirmation of my appointment. The report has been in your is for some days, and will, I presume, as usual, be taken as read.' Since it was issued, the China Merchants' Company have paid an additional forestalment of Tls. 43,000, making a total of Tls. 1,245,000 deposite in the Hongkong and Shanghai Bank. I may explain, in this connection, that by the regular system of quarterly instalments, the last payment would be made on Ist Apri 1882. But by the agreement, any fores ments are placed against the regular payments last on the list. So that, by this forestalment of Tls. 245,000, the date of the final payments already shortened to 1st April, 1881. Everything connected with the transfer of management on the 1st inst. isin order. All the steamers and insurable property untransferred are covered by policies which are in the hands of the Agents. The Directors have circulated, for your information, a draft resolution respect ing the winding up of the Company, which will be brought forward for discussion in due course at this meeting. I shall, for the present, be glad to answer any questions regarding the report and accounts for the last year. Iwill now proposo—
That the Report of the Directors and the Accounts, as presented for the year 1876, be accepted and pasted; and that the appoint. ment of Mr, F. B, Forbes as Director be confirmed.
Mr. F. H. Bet—I second the motion, The Cuammax asked whether any Shareholder had any remarks to make on the resolution proposed.
There was no response, and the motion was then put to the vote and unanimously adopted.
Text read from the printed page and cleaned; old type leaves the occasional error.