~of Directors, for presentation at the Ninth Annual Meeting of Shareholders, to be held Monday; the 7th February, 1898, at 4.30 o'clock p.in. the Directors are pleased to be able to an-'In presenting their Ninth Annual Report, nounce a continued and increasing prosperity in the Company's operations.
The Profit on the Working Account stands at Taels 118,751.67 as against Taels 77,695.34 Fast year.
The Profit and Loss Account, after deducting the amount of the interim dividend, paid in July, shows a credit balance of Taels 219,114.61, which it is proposed to appropriate as follows To Pay final Dividend of 63% 0n Tis. the paid-up Capital (making 11Y, for the year) $4,500.00 Transfer to Reserve fund (mal ing it up to Tls. 200,000)...130,000.¢0 Carry forward to New Account. 4,614.61
Wil's Estate No 1 calls for no comment.
Ohwong Hoong Estate No. 2.—AN the buildings on this Estate have been completed and satisfactorily let. 'There is still one plot of land unoccupied' next to the propos Public Garden, but owing to the greatly enhanced cost of building the Directors have decided to defer for the present dealing with this lot. With this exception, the Estate may be considered fully developed.
Little's Entate No. 4.—Tho buildings referred to, in last Report are progressing in a satisfactory manner, and it is hoped they will all be ready for occupation in the early Autumn, Hanbury Road Estate No. 5.—This Estate is now fully developed and the houses find tenants at fairly remunerative rentals, Jin Kee Estate No. 6.—Building has commenced and several applications have already been made for leases, so that the Directors look forward to the property becoming a good source of income in the near future.
Estates Nos. $ and 9 ave properties purchased "during the year which the Directors think will Tend themselves to development in' way of building Chinese houses in the riot far distant future. The former is situated ea the'Hongkew Creek, just outside the Hong-Settlement. "The latter is to the North of the Seward, and is known ab Capeatral Lot No. 1025. a 'Call'for New' Capital. vas pro ahs ded Directors are pleased to say that the to and, with few exceptions, the allotments 9 Shareholders were taken up. The pro-'es have been es Hot applied for disposed of singe the atcalints were closed, and there will be a further sum of Tls. 2,745.60 to appear to the credit of Premium Account in the present year. 4
Divectors.—Mr. Hearn retires by rotation, bat offers himself for re-election. the accounts aid now offers Uimcelf for elec:
Auditor.—Mr. Wingrove has again audited tion for the current year. ili, RB, Beans, lairman.
For the Fear ending 3
To Charges Account Agency Management..
Text read from the printed page and cleaned; old type leaves the occasional error.