A mooting of the shareholders in this Company was held on the 4th inst. at the ShanghaiClub. There were present, Messrs. B.A. Clarke, T. W. Kingsmill, R. Mackenzie, P. Maclean, W. H. Anderson, J. M. Ringer, J. Buchanan, W. Pardon, G. Lewis, J. Jaques, and W. Harris, representing 25 shares.
On the motion of Mr. Bucmaxax, seconded by Mr. R. Mackenziz, Mr. B. A. Clarke was elected to preside.
The minutes of the last meeting, held on 16th September, 1878, were confirmed.
The Cuaremax explained that no meeting was held last year owing to there being nothing of interest to bring before the shareholders. About twelve months ago, the Company leased their works to Dir. J. Jansen, and he was pleased to say the Company now was ina better position than it had been formerly. Many of their old debts had been paid off, and there was every probability of those now outstanding being soon settled. They bad now to decide whether they would again lease the premises, as the present lease would expire during the current month.
Some conversation took place as to omissions in the last accounts, and these were satisfactorily explained.
Mr. Krxoswmt advocated the removal of the works to a site nearer town, say, for instance, to the Soochow or Hongkew reek. The value of the present site had increased, and the Company would not lose in removing elsewhere so far as that was concerned, whereas a site nearer the town would facilitate their operations considerably, and doubtless tend to an increase of custom. He thought the works should be again leased to a foreigner, to ensure the clothes being properly, washed and to prevent the plant going to ruin, The Cuamaay concurred in the view expressed by Mr. Kingsmill, explaining that when he joined the Gompany its affairs were in a very unsatisfactory condition, and the directors were glad when Mr. Jansen came forward and leased the premises. Before this was done, the Company had to pay upwards of $400 as claims for lost of clothing entrusted to their care.
Mr. Krvosw1t proposed, and Mr. Mactzan seconded, the adoption of the accounts, and the motion was unanimously adopted.
Tar SMasonat Wasutso Comvaxy, Balauice Sheet, SIst March, 1889, Capital, 01 shares Bik Glarke, Bala Tatars i wae to date":
Text read from the printed page and cleaned; old type leaves the occasional error.