The annual meeting of the Shanghai Tug-Boat Company, La, was held at the offices of the agents, Messrs. Morris and Ca., No. 8, Canton Road, on Friday afternoon. There were present Mr. J. Prentice (Chairman), and C. Buchanan, Directors, D. McNeill (Legal Adviser), J. Morris, A. Shewan, Thos. Cock, H. Ollerdessen, L. Andersen, T. Weir, J. F. Rodewald, E. Hjousbery, N. K. Moller, J. MeCrackin, W. Bates; and W. Lamond, representing in all 203 shares.
Mr. Morris ha ing read the notice convening the meeting, the Chairman said the Report and Accounts had been in the shareholders' hands for some time and with their permission he would take them as read. It gave the Directors great pleasure to meet the shareholders again with such a satisfactory report. The earnings were less by Tls. 4,781.89 than those of the preceding year and the balance transferred to Profit and Loss Account was less by Tls. 3,504.94 than that of the previous ear. All the profits' had been made out of towage and it reflected great credit on the management and working of the business that the balance of Working Account should be only so little Jess than that of the year 1899, During the recent
Text read from the printed page and cleaned; old type leaves the occasional error.