The eleventh ordinary meeting of the Shareholders in the above Company was hold at the Company's office, Queen's-road, on the afternoon of the 20th inst. There were present Hon. P. Ryrie (Chairman), Messrs. H. Loweock, H. L. Dalrymple, A. Melver, H. Hoppius, A: Hancock, A. Coxon, 'A. Newton, W. Watton, W. Reiners, A' McConachie, H. Wicking, Hon. Ng Choy, R. Deacon, H. Grawford, M. B. Polishwalla,—Foss, E. E, Elias, Fung Ming Shan, and J. B. Coughtrie (Secretary).
The Cuarawan said—Gentlemen, I rise to propose the adoption of the report by you. Idon't think there is any necessity to read it over as you have -had it in your hands for some time. I have very few words to say in regard to it, except that I think most of the Shareholders will consider it satisfactory. Our premia has increased and also the amount received for interest on deposits, and the losses in the course of the year 1879 have been of a comparatively insignificant sum, You will observe from the accounts that we propose to pay the twenty per cent. bonus for 1878 immediately after this meeting, and that we also propose, 80 as to be rid of the old system of bonus, to pay at the same time a bonus of twenty per cent. up to the 30th Juno last. After the Ist July, as you are aware, the new system commenced of giving a cash bonus of twenty per cent., which henceforth will be the rale of the office. The amount to be paid to contributors for 1878 will be $27,388.63 and the amount for the half year of 1879 will be $14,387.86, You will observe there have been some changes in the direction since we last met. The gentleman who was then Chairman (Mr. Low-cock) left the colony for a while and Mr. Gibb officiated as Chairman for some time. You will also observe with pleasure that Mr. Loweock is present amongst us to-day, and it will be one of my duties, after the passing of this report, to request that you confirm his nomination to again take his place at this board. I will now only refer to a subject brought up at the last meeting, that is, the provision of means for extinguishing fires. During the interim that has passed since we last met this has had the attention of your board. A deputation waited on His Excellency the Governor requesting his assistance in the matter, and, as you would probably seo by the papers at the time, is Excellency most cordially agreed with the views of the deputation and promised to do everything in his power to carry them out. "His Excellency laid before the gentlemen composing that deputation a scheme for high level tanks. This scheme has been submitted to the Home Govern. ment, and I believe they have approved of it with certain modifications. However, we shall be able to know very soon what will eventually be done, but I think we may calculate on the scheme being carried out. With these remarks, gentlemen, I propose the adoption of the report and the passing of the accounts, Mr. No Cuoy seconded. Carried unanimously.
Text read from the printed page and cleaned; old type leaves the occasional error.