The second annual meeting of the Shatighai Washing Company was held yesterday afternoon, at the Shanghai Club.
Phero were present: Messrs. Brodie A. Clarke (in the Chair) and Robert Mackenzie, Directors; and Messrs. F. G. White, J. Buchanan, W. B. Jamieson, A. Greathead, and Wilmer Harris (Acting Secretary), representing 28 shares.
Phe Caran read the minutes of the last annual meeting, held on the 4th May, 1880. He then said that one of the Direc tors, Mr. T. W. Kingsmill, had resigned his post when he went Home, and the vacancy had not been filled.
The minutes were confirmed, on the motion of Mr. White.
The Cxamaan stated with reference to the accounts that the debt owing to the estate of the late Mr. Meller had boon reduced to Tls. 100 since the report had been made out, and the executors of that faience in instalments, and it would proontleman had consented to receive the
bably be paid in two or three months. Tls. 215 odd had been expended for repairs to the premises which had to be executed before the lessee would take them. The inswtrance policy would terminate on the12th of October next, and he thought that there were companies who would grant a policy next year at a cheaper rate. The late Mr. Meller's executors were paid monthly out of the money received in advance from the lessee. The present lease would terminate on the 30th Juno, but the lessee had the option of renewing it for another year at Tls. 70 per month.
Mr. Wine asked if the lessee were obliged to keep the premises in repair?
The CuarMan said he had to do so for two years, The premises, éc., were now in very fair working order.
Mr. Boouawan wished to know whether the increase that had taken place in the value of the land owned by the Company exceeded the depreciation in value of the plant, &e.
The Cuarauay thought that it would almost do so, if not quite. Before Mr. Kingsmill left for England, he had expressed the opinion that the land was now worth Tls. 2,200 or Tls. 2,400. Considerable increase had lately taken place in work for the steamers and shipping, but the lessee complained very much of the delay and trouble he experienced in getting his money from residents, and of the number of bad debts. People kept him waiting three or four months, and then paid him for the first month, and so on, and this caused him considerable trouble and expense in paying shroffs, Mr. Buonaxan moved, and Mr, Wurre seconded, that the accounts, as presented, be passed.
Carried, Mr. Buomanax moved, and Mr. Great: HEAD seconded, that Messrs, Brodie A. Clarke and R.' Mackenzie be reelected Directors of the Company.
'The motion was passed' aid the proceed ings then terminated, Year ending Sist March, 1981, Dr Capital, 91 shares at Ts, 60 Executors of Henry Meller 4. Clarke, Balance of Loan bat not paid"
tary, Balance of hia account Bropertyes-Gast of Bali Property Gast of Bali Plant-Engine, Ponies, Carts, cie bites Purettart.(Las Suodtie Sola) Working Account—Balance ne Gri aa bai. Prest aid Lear Account—Dalancé of thie Worxnio Accovxt, From Ist April, 1890, to Star March, 1681, Dr To Recovered Account, Working of 1879.80 of Premises to Sung Nien, one Tis, 60 per month, 8 months 180.00" 0 680.00
Text read from the printed page and cleaned; old type leaves the occasional error.