Report of the Directors for the year ended "list December, 188%, ta be sibntitted to the Annual General' Meeting to be hell at the Shanghai Dib on Thursday, 9th February, 1888, at 11 o'clock am.
The Directors beg to submit to the Shareholders the Annual Statement of accounts for the year 1887.
The old Working Agreement with Messrs. Jardine, Matheson & Ca. expired on 30th June last, and a new one, based upon the principle of an equal division of Profits, was entered into for ten years from that date. The Accounts have been made up showing the working of the two half-years separately. 'The Gross Earnings of the Association for the year are Tls. 4,358.69 leas than last year, but the net balance of gain pertaining to this Company for the sume' period is only Tls. 239.17 less than in 1886.
An interim dividend of Fla, 44 per share was paid on the Ist September last, and the balance now available for division admits of further dividend of Tls. 4 share, leaving Tls. 711.27 to carry forward to next year's uccuunt. 5 'A small portion of the wharf staging, near the crane, will require to be renewed during the ensuing year. The estimated cost is about Tls. 3,000. Otherwise the Company's premises ace in a satisfactory condition.
Bonded Warehouses.—Immediately the 146 Customs Notification, No. 279, of 20th December, 1887, was issued, application was made to have certain Warehouses on the premises of the Association bonded, but the concession has been refused.
The Directors (with the exception of Mr, Purdon, who resigned on leaving Shanghai) and Auditors offer themselves for re-elec: tion.
Suascuar AND Honckew axp Janpixe's Associated WHARVES.
For the Half Year ending 30th June, 188%.
Tis.
Text read from the printed page and cleaned; old type leaves the occasional error.