Yesterday afternoon the annual general meeting of shareholders in this Company was held at the Shanghai Club. Mr. John G. Purdon (Chairman) presided, and there were present Messrs, R. Francis, E. Jenner Hogg (Directors), H. Eawards (Engineer), Chr. Scheppelmann' (Secretary), MacLaren, Komura, A. R. Burkill, C. Bois, W. B. Jamieson, C.
J Buchanan, R.E. C. Fittock, oung, BE. Davies, J. E. Reding, and J. Marshall; 1,210 shares, representing 586 votes.
Mr. Scheppelmann having read the notice convening the meeting, The Chairman said—Gentlemén, the minutes of the last annual meeting are on the table but as they were leone and distributed among the shareholders it is not necessary, I presume, to read them. The report and accounts for the year have been in your hands for more than a week and have no doubt, had your attention. We have as nual made the report a very full one to give you all the information possible regarding the Company. The increase in the consumption of gas is very satisfactory, particularly for such a year as 1892, and testifies to the good effect of lowering the price whenever practicable, which has been the policy of this Company for the last: fifteen years, Last year I pointed out that although 82 per 1,000 cubic feet was extremely moderate, yet if business warranted it we would accommodate our customers by making another reduction, which we did, making the rate $1.85 from the beginning of 1893. The total increase is over 7,000,000 cubic feet, the largest in any year with one exception, and if the increase continues we will in all probability have still lower pres, These reductions apply to the Municipalities as well as to private consumers and with the discounts allowed you will see that the prices are only $1.75 to moderately large consumers and $1.67 to the largest. These are extremely low rates and show that the public benefit as well as the shareholders. by the prosperity of the Company. For some time, towards the close of last year and begin ning of this, the supply to those in the neighbourhood of the Peking road and in Hongkew, was inadequate, but this was owing to no fault of our Engineer; the large 14-inch main, to supply those districts, was ordered in time to be in use the fall, but through delays in England it did not arrive until winter was well advanced, and then the exceptionally severe frost retarded the work. The supply is now ample even. for.the considemble increase in the demand that may be expected owing to the extensive building operations going on in Hongkew. I may mention that on the night of 16-17th last month the consumption was 338,400 cubic feet, the largest we ever had in-gue night. The receipts from residual
Text read from the printed page and cleaned; old type leaves the occasional error.