The Annusl General Mesting of the shareholders in this Company was held on Monday at the Shanghai Club. Br. W. Paterson, (Chairman of the Board of Directors) presided, and there were also present Messrs. A. McLeod, F. H. Bell, John Daeth W. B. Jamieson, FE. Ward, W. M. Young, 4, Morriss, G. G. Hopkins, Francis, A. Thurburn, W. Cance, D. Glare, P. G. Hibbe, J, A. Hawes, J. Harding and A. J. How, repres riting 751 shares.
The report of the Directors and the accounts appeared in our issue of Feb, 22, The Cuarmwax ie report, which has now been in your hands for sume time, fully goes into the working of the whart that there is almost nothing for me to specially refer to, The godowns are now in first class order, and 1 think we hay now abel commodation for the requi wharf. I think the only thing that it is necessary to onll your special attention to is that tite directors are of opinion that the capital of the company should and should they be re-elected it is thei tion that wapecial meeting should be called in the oneae of @ mouth or 805 when they will put a scheme before you for increasing the nieve it is for you to com best for you owa al are any questions I can answer I shall be glad to do #0.
Mr, Fuaxcis—I notice, Mr. Chairman, that a very large amount has been expend ed during the past year in new godowns, and rai haps you can as to the number of new godown: and the amount land, the money spent in the main on the lot known a Kanlet's lot, It oust about Tis, 2,500 and there are other embankments which mike up the balance.
Mr. Francts—Can you any what number of new godowns have been built?
The Cuatuatax—Seron, L think, is the Rise S—Are they double Cuamaan—One is double yo-
Mr. Fr sois—It seems rather a large amount for godowns, is an average of 9,00 The Cuarewax—I think the average is between Tls. 8,000 and is. 9,000. Of course the double yolown cost a yood deal more,—I think about Tls. 14,000.
Mr. Francis—Are yon prepared to inform us at the present meeting what it is that you are going to suggest The Cuairssax—No, we have no scheme ting.
Mr. Fraxcts—I think it very advisable that the shareholders should have some idea what the scheme is, 50 that they may be prepared to come forward with objections if they do not approve of it, The Cuareaax—It is a very important matter, and ought to he carefully considered, We are uvt in a position now to bring forward the scheme, but we hope to be in that position a month bene Mr, Fraxcis—Just so, but you Directors will have ai mouth to consider it; while the shareholders will have only a quarter of an hour.
The Cuarewan—We must have some time to consider scheme. It will be for you to consider whether another scheme would be better and we shall give you time to cons Tt is a matter of such importance that it should not be carried through in a hurry.
Mr. Fnaxcts said if the Directors had ne scheme to bring forward, he woul bring forward his own ide: proposition would be that. the remaining 350 shares should be called up, and that there should be a further issue of 100 shares at Tis, 190 or Tis, 250 premium. That would about raise the amount required to pay off the present indebtedness of the company.
He would put his scheme in the form of a regular motion.
The Cuatustay said before putting Me, Francis's motion he would, if there were no other questions, put the motion for the passing of the accounts. Ho moved That the report and accounts of the Company for the year ending 31a December, 1882, as printed and circulated, he adopted and passed.
Mr. Bert, seconded the motion, and it was carried unanimously.
Mr, BELL then mo}
Directors share, Mr. McLzop seconded the motion, and it was adopted.
Mr, W. B. Jaatteson proposed Tunt Messrs, F. U, Boll, A. MoLsod, A, C, Westall and P. G. Hubbe, in conjunction with the Senior Representative of the Arm of Messrs, Jardine, Matheson and Ca., in Shanghai, be elected Directors for the ourrent year.
The motion was
Text read from the printed page and cleaned; old type leaves the occasional error.