The eighth monthly meeting of the above Society was held at the Royal Asiatic Society's Lecture Room on Tuesday evening. Mr. A. W. Danforth was the lecturer and he chose for his subject The Manipulation of Cotton." He described cotton as a vegetable fibre of which there statistics as to the gunz produced by were four or five kinds. He gave interesting
different countries, the acres of land cultivated for that purpose, the production of each acre, comparing the product of one country with that of others as to quality and the fineness of the yarn obtained therefrom. The Chinese cotton produced the finest yam. He also mentioned the percentage of profit that was made on the capital by the farmers of cotton. A number of slides were shown the aid of lime-light representing the different machines used in cotton factories for carding, scutching, ete. Primitive methods, with the modern way of weaving cloth, were fully elucidated.
Mr. Fung Yih proposed and Mr. Ng Hing-shang seconded a vote of thanks to Mr. Danforth.
The Rey. F. L. Hawks Pott, the President of the Society, announced that the season would be closed until October after a social gathering in June, when the members will be invited to a dinner which will be interspersed with music and toasts.
And I now propose To pay a further Dividend of 5 cent. (making 10 per cent.
the year), which will absorb 30,000.00 Fo place' to the Credit of Permanent Fund 7,000.00 Tocarry forward to 1896 Account 8,015.44
$75,015.44
The amount, of $100,000.00 paid for the Goodwill and Trade Marks, which has. otood aaa Ascot in the books of the Company since its formation, has been written off from Permanent Reserve Fund in accordance with the suggestion made at the General Meeting last year.
General Insurance Fund $10,000.00, the maintenance of which as separate account served no useful purpose, has been merged into Permanent Reserve Fund.
Permanent Reserve Fund in 1894 Accounts stood. at $183,000.00. After writing off $100,000.00 for Goodwill and Trade Marke and with the addition of $10,000.00 General Insurance Fund and $7,000.00 to be taken from the 1895 Profits now available for appro" tiation, it will stand at $100,000.00.
Reserve Fund to meet Contingencies or for the Equalisation of Dividends' remains at $25,000.00 as heretofore.
been audited by Mr. Leonard B, Warmington, 'The Company's Accounts ip London have Chartered Accountant, and those at the Head Ofte by Mr, Francis Maitland' acting for Mr, 8. G. Bird, who is absent.
The Company's business continues to be progressive and, satisfactory.
Iso, D, Huneneeys, General Manayer, Hongkong,9th May, 1896.
Text read from the printed page and cleaned; old type leaves the occasional error.