Mr. E. F. Alford presided at the annual meeting of the proprietors of this Company held at the offices of the general agents, Messrs. Jardine Matheson & Ca., on Tuesday afternoon. Amongst those present were Messrs. A. McLeod, E. A. Probst, Korff,. A. Hewett (Directors), Messrs. Rodewald, ©. Thorne, Captain Dobie, D. Glass, J. M. Young, G. L. Oberg, J. Buchanan, ©. Dowdall, Anton, R. H. R. Burder, E. H. Kenney, Ti San, L. A. Tavares, Laing Poo-chou, H. R. Kinnear, W. Lamond, T. Pemberton, 'T. R. Wheelock, R. Exstlack, and W. A. Cruickshank (Secretary). The notice con. vening the meeting having been read, the report and accounts were presented a copy of which appeared in these columns on the 12th inst.
The Chairman in moving the adoption of the report and accounts said—Gentlemen With your permission I will take the report as read. Its satisfactory nature will be apparent to you, but it may be interesting if I mention the comparison between one or two items in the accounts as compared with last ye: You will observe: that the total profits for the year came to Tls. 199,000 as against Tls. 184,000 in the previous year. Well the main reason for this satisfactory increase is not in the earning power but in the saving power. (Hear, hear.) Iam glad to say savings have been effected which have accounted not only for that difference but also have provided for the increase which has been necessary from the increased cost of labour. In apobserve that we have written off the balance
Text read from the printed page and cleaned; old type leaves the occasional error.