The Annual General Meeting of the shareholders of the Shanghai Gas Company was held at the Shanghai lub on Friday afternoon, The chair was taken by Fred. D. Hitch, Esq. (Chairman of the Company), and there were present:—Messrs. Ed. Hague, H. 8. Morris (Directors), G. J. Yeo (Secretary and Engineer). J. F, Rode= wald, O. Brandt, J. W. Harding, W. B. Jamieson, J. D.' Thorburn, C. 8. Sharp, A. Veitch, W. Pardon, R. Stewart Smith, F. J. Maitland, R. Francis, W. Birt, B. Burns and J Buchauan—representing 581 votes, The Cuarmaan said that as there was a quorum present, he would call upon the Secretary to read the notice convening the meet The notice convening the meeting was then read.
The Report of the Directors and statement of accounts, which were as follows, Were taken as read The Directors have now to submit the accounts for 1SS1, and at the same time to congratulate the Shareholtera on the couinued prosperity of the Company.
The net profit for the past twelve months amounts to Tsela 41,572.50, out of which Leels 18,000 have been absorbed by two semi-anniett dividends of six per cout. exch. It will be seen that the profite area little less than for the preceding yenr, but whau it is borne in mind that this result has been n face of a reduction in the price of goa of 25 conte per thousand enbie feet, the Directors have reason to believe that it will derail satisfactory.
An additional amount 8,000 has been carried from Profit and L Account stands. at Shanghai Banking Jue of the Company's pro port written off Tls. 10,106.67.
preciation of the value ty of the Works, the the exhibit of the total Company will be found to be their value, state of the Com; led the Directors to wiuction in the price of G take effect from the first of April the charge from that date being '$3.00 ud cubic feet, with discount t., according to and for the Muni The increase in the consumption of Gas has been about 10} per ce:
As foreshadowed th Inst annual report, it has wow become ary, in order to be prepared for the leaving demand, that another gasholder be erected, u Directors have already invited tenders fo construction.
Within the past year, another piece of ground, S.E. from the Works, containing an area of ahunt 5} mo, has beet purcba for the sum of 'Lo. 6,786, whereon it is contemplated at an early day' to erect a dwelling for the Engineer and Secretary. This step was necessary for the reason that the house a ocoupied by some members of the staff will 's00u become uniuhi alle on account of its Proximity to the Works, Ie in moreover coming very dilapidated, and the apace occupied by iv will sue be required for other will be found the Engineer's re than usually int ug and If, G. White at the Board, and Herbert Chairman, 23th March, 18:
Text read from the printed page and cleaned; old type leaves the occasional error.