shareholders in the' shove. company was The third ordinary general' mooting of
held, on Monday (3ist ultimo) at the offices of the General Managers, Mr. G. Galles presiding. The following were also present:—Messrs. E. Karbe, F. W. Koch, Sun Chung-ying, Woo Sow-chin (Directors), P. Arnhold (General Manager), A. W. Danforth, A. Dabelstein, Davis, H. ann, R. M. Campbell, 'A. Cushny, and J.: Nolting, representing 1,698 shares, Dr. Zimmermann was present officially from the German Consulate.
The Chairman, in proposing the adoption of the Seport and accounts, said—Gentlemen, the report and accounts having been in your hands for some time, Iwill, with your permission, follow the usual course and take them as read. As you will have seen from the report, our Mill commenced working on the 25th of March last, with 1,500 spindles, increasing gradually to about 35,000 spindles by the end of the year. 'The full capacity of the 'Mill—viz., 40,000 spindles, has been erected for some time, but we have been unable to put them all' in working order owing to the scarcity of labour, which still continues. Now that the Chinese holidays are over, we' trust to overcome that difficulty very soon. We are quietly and steadily organising the working of the Mill safe figure, so: much 60 that, since closing our: books, we have sold our entire stock of yarn at-prices showing' a' fair profit over and above the valuation in'stocktaking. In conclusion, T believe that I am fully jus! fied in congratulating the shareholders on their property, from which in' course of time they are certain to reap very satisfactory returns. Applause.) Before " proposing the adoption of the report and accounts I shall be happy to'answer any questions you may wish to ask.
There were no questions, and the Chairman proposed—and passed.
'That the Report and Accounts' be accepted'
Carried unanimously.
The Chairman proposed—That a dividend of Tls. 20 per share be paid. Carried unanimously.
Mr. R. M. Campbell pro} That the Directors be re-elected en, bloc.
Mr. Danforth seconded, and it was carried unanimously.
Mr. R. M. Campbell proposed—
Prorig: ax' Loss Account."
Tis.
To Interest 897.09 Balance 47,332.17
Text read from the printed page and cleaned; old type leaves the occasional error.