held in' London on the 18th April the At the annual meeting of this Company, The twenty-ninth annual general meeting of shareholders was held on Tuesday, the Wiath Apri Ecture (in the chairman, Mr. Albert Deacon, referred in 19th April, at the banking-house, 63, Old Hall) on "PGhinese Ideas of erally (with is—Lecture (in the Temperance the course of his 5} to the Confer-Broad-street; Mr. J. N. Pullen, the chairtions and their result in these man of the bank, presiding, magic-lantern illustrations), by Sir. John to say we are no lot The Cuamuan said—Gentlemen, except-Fryer. "oth April.—An Address on "Daniel Webs-able to tell you in those happy and fat ing in respect of one or two items I need words of Her Majesty, that our relations ter: the Lawyer, Advocate, Statesman, and not take up your time with any remarks on Orator," by General J. D. Kennedy, the' Pre-with all the great Powers continue upon a the figures of the general balance-sheet. The lent of the Society s followed by a Debate—friendly footing." On the contrary, these deposits are, as you will see, on the whole "hat, Socialism as at present advocated is inimical to the best interests of Society and relations in respect to that association about the sume again June last, Those pay: known to you all as the Conference, have able at fixed periods are somewhat smaller, Government." Affirmative: Mr. Drummond been strained to breaking point, and we This falling off in the fixed deposits arises Hay, Negative: Mr. B. A. Probst. have been compelled to withdraw from from our having reduced the interest "bth May.—Open Debate—*'That Legisla-our working arrangement with it, or, which we allow on such deposits and from tive Independence ought to be conceded to perhaps, it would be more correct to say, this reason our next accounts may be Ireland."—Affirmative: Mr. Ed. Robinson. we have found ourselves unable to obtain expected to show a still further falling off Negative: Mr. G. Jas. Morrison, a renewal of these arrangements. With Ist June.—Annual General Meetin; The note issue shows a satisfactory increase, every desire for peace, and to work in lowd by & Paper of The Street Zoology of There is sume increase, you will notice, in harmony with our neighbours, a remark our investment in Government and other New York," by Rev. &. C. Partridge, B.A.
The number of open Meetings, which' have which applies equally to the past, the stocks, This increase was made last sum-invariably been very fully attended, has been present, and the future, we found the mer, when we were over-supplied with Itis proposed to close the Session with a terms, the only terms offered to us, such as, money, which, owing to the low rates of Smoking Concert (open, by invitation, to the in our opinion, rendered their acceptance interest then ruling, we could not othor+ Friends of Members) to be held on or about impossible, and, after giving our most wise employ to advantage, On these the 15th inst. patient and careful consideration to. the securities there was on the Slat December, Nearly three years ago the attempt was whole question as affecting alike the present when the accounts were closed, an appar made, with some slight measure of success, to establish sections for the purpose of and future interests of this company, these rent loss of about £9,000, the market terms were rejected by the unanimous vote value having declined owing to the 5 per (a) Reading the Works of Shakspeare and po just now, I desire specially to ox-of the board. In speaking of the "great cent. bank rate und to political uncasiother Standard Plays,
Musfe, (a) Practising "Vocal and. Instrumental ness. But. this loss, though we had to copt front this category the Peninsular and us provide for itin making up our accounta, will The recent very large addition to the ranks Oriental Company, who, we have reason probably, ina great measure, be recouped, of Members affords reason for the hope that to believe, have held themselves entirely as the securities were not, sold, and they
successfully carried out. these proposals may in the near future, be aloof from all interference in this mat-have since risen in value. Passing now to ter—; indeed, we most willingly pay tri-the profit. and loss accounts, the bad result To those who have taken part in the bute to the broad and enlightened spirit of the half-year has been atte in part, as Debates, or who have been good enough to which animates the policy, and guides the have explained, to the writing down of our read Papers or deliver Lectures, or who have administration, of that truly great maritime investments by' ubout £9,000, but mainly in other ways endeavoured to practically for-power. From the day this company was to unprofitable exchange workings at some ward the interests of the Society, the thanks started down to the present time, and in not only of the Committee but of every in+ spite even of such occasional-—I will not of our branches. Tt would serve, no woeful dividual Member are indisputably due. Never-purpose to go into any lengthened explanatheless, in spite of the greatly increased say rivalry—but rather clashing of interests Borof thes loares,"'No doubt tore! were niinerical strength of the Society, the number as can possibly exist between bodies so errors of judgment; but with exchange of active workers is still comparatively small widely separated by their relative magni-fluctuating so violently it would be sur-and while giving due acknowledgment to, the tudes, the Peninsular and Oriental Company rising if mistakes had not been made, fact that during the past year there has been have ever extended to us the most fremdly between July and December the price of more disposition to assist in the furtherance of the Society's objects, the Committee and generous consideration. The names bar silver fluctuated more than 4d. per oz. of Mr. Sutherland, their chairman, and of and Council drafts from 1s. 4 3-16d. to would again emphasize the hope of & warmer Mr. Barnes, a managing director, have long id. por rupee, equal, in both cases, to about und heartier ce-operation in the future. been household words at our board and Lam 9 per cent.—and these fluctuations didn't 'H. T. Was, sure there is notoneofuspresent to-day, who-take the form of a steady fall and subse-Hon. Secretary. ther he be seated on this side of the table Shanghai, 1st June, 1887. quent rise, but were jerky and spasmodic, or on that, who would not regard as an or talling without apparent reason, Statement of Accounts 5 front Ist July, 1886 absolute calamity any serious disagreement with such old and tried friends, and affording no safe basis on which ex" impomible either tu forecast or to follow, to 30th May, 1887 Well, gentlemen, with negotiations coming change business could be conducted. With toan end, we felt it to be our first, our such wide fluctuations it is not difficult imperative, duty to guard the interests of to understand that dealings in exchange our friends by taking care that nothing wore liable to result in losses, and this was should be allowed to interfere with their undoubted right of enjoying, without fear unfortunately the cute at, sone of our branches. This is the explanation of the of pain or penalty, a full and regular sny bad results of the half-year. We hope and ply of high class tonnage throughout the believe that this result will prove to be ex-whole season—and, having been unable to ceptional, and that we shall have a much To Balance Tis obtain from the Conference any guarantee, more satisfactory account to lay before you Outstanding indeed any expression to warrant the hope, next October. As regards the general posi-that those of us who would willingly tion of the bank, excepting that our capital have continued to give a good share of is abroad, valued in our accounts at par, as Lew amount due Hou, Treasurer, as our business to their steamers, would I shall presently refer to, there is nothing be permitted to do so upon equal terms, to cause us anxiety. We have no lock-up Total Assots as regards returns, with their other friends. of any importance, nor have we, as far as the obvious necessity of self-defence was we know, any serious bad debts threatening Stati Expexpirone, enforced upon us, and I have now the Advertiser Printing, ote. or impending. Ample provision has, we ute and Exp satisfaction to inform you that, after well-believe, been made for all known bad and Bent, rise, Heating, Attend: considered negotiations, we have entered TLA.S. Room from Oct, 1886 to doubtful debts, and, excepting our capital, into an ment with our friends Messrs. revery item in cur necounta haa boon written, Gellatly, Hankey, Sewell, and Ca., so well down to gold value, It is no doubt unsatis-known, and so well liked, in our trade, factory that we have hnd to take £25,000 whereby in future the ' Mutual" and from the reserve to meet losses. But con-"Mogul" lines, withsuchadditionalsteamers sidering thnt we added to the reserve out of as may from time to time be found necessary, profits in the throe years 1883-5 no less than or desirable, will run as one line in joint £105,000 and considering also the disndvanand mutual' support of each other, alike tages which in the case of a Bank attend the Bolauce with the 1ougkong aad Shang outwards and homewards. And without, non-payment of dividend, we have thought Dankiny Corporation, a por Pass Boot, for obvious reasons, enlarging here upon it more in the interest of the shareholders 075, Ma Ee, this part of my subject I will simply say to pay a reduced dividend, and we trust that as we are all partners, and as we have that our action will have the approval of the no secrets from our partners, any one of shareholders. It will be our duty to restore Frases H. Haskete, you desiring further information will readily to the reserve fund us quickly us possible obtain it by doing our managing director the sum thus withdrawn, and I trust the Shanghai, goth Muy, 1887.
Audited with Vouchers and found correct, the honour of paying lim a visit,—Londow result of the current, half-year will enable HI, unr, and China Express. us to do this: have alluded to tha
Text read from the printed page and cleaned; old type leaves the occasional error.