Report of the Directors for the year ended lit December, 1840, 10 be submitted to the Annual General Meeting to be held wt the Shanghai Club, on Saturday, 28th Febru ary, 1891, at 11.30 o'clock a.m.
The Directors beg to submit to the Shareholders the Annual Statement of Accounts for the year 1890.
After payment of an ad interim Dividend of Tls. 6 per Share on the lith August last, Profit and Loss Account shows a Credit Balance of Tls. 23 3 from this sum it is proposed to pay a Final Dividend of Tls. 8 per Share, which will absorb Tis, 22,036.00, and to carry forward the lwlance of Ts, 798.20 to next year's account.
During the year it: was found. necessary to rebuild Godown 19,. and extensively repair Godown A, the cost' of which, along with other current repairs, has been paid out of Revenue. generally are now in tion, The business done at Old Ningpo Wharf as stated in the Accounts shows a small Credit Balance after providing for interest on the Cost of the Property,
regret that Bonding Privileges are withheld The Directors have still to record with from this Company.
A.C. Westall after long and valuable service on the Directorate resigned his seat on leaving Shanghai, and the Directors invited Mr. Win. Howie to take his place for the remainder of the year.
The present Directors offer themselves for re-election.
Owing to the temporary absence of Mr.
J. Dudgeon the Accounts have been audited by Mr. GR. Wingrove in conjunction with Mr. A. Burman. Messrs, Dadgeon and Burman are recommended for re-election,
Text read from the printed page and cleaned; old type leaves the occasional error.