The annns) gonered me helders in the Sha Vin Beilin on ake from the Directors' report the four year (1902) the followi nents ug the steady prog ale me ug the re erviee OF the subscribed capital of 54 million ks, 344 millions have Leen generally maintain the emissary of 103} per cent. Among the Chinese shareholders of the Company, H. E. the Governor of Shantung provi be found.
The whole first section of the line, Tsingtao to Weihsien, a length ut 184 (UL miles), was Opened for general trafic on June Ist, 1902, On Decembs 10th the Tine was extended 24 kin. (It miles) further inland, while 48 kin. miles) were added in the first five months of the current year, bin the whole kin. (170 miles) now in regular working order.
The traffic of the year under review compared with that of the previous year, shows an increase from 59.912 persons transported in 1901, to 221, 27 persons in 1902. Tu the transportation of gonds the incense was still more considerable, from 5,473 tons to 13,845 tons, The total receipts amounted to four times the figure for the previous year, while the transportation of goods alone yielded upwards of 5} times amount of 1901. On the avers Kilometre of completed rai Mex. 1,247 against 591} in the previous year. By paving the reals leading from some bigger towns lo the railway station: the Company enabled dray carts to bring goods also during the rainy season.
Of great importance for the railway is the progress made in the exploitation of the neighbouring coal districts. From the earer c al mines at Weihsien the first load f 150 tons was carried to Tsingtio on October 3 th, 1902. The quality of the coal is, on account of ita greater heating power and more sparing development soot, rather superior to the Japanese coal now prevalent in the ports of Wastern Asia. A second district of coal fields is ated near the branch line (in course of construction) to the Poshan valley, where already now the production of iron, glass, and crockery is carried on to a considerable extent. For the down trains the produce of agriculture, and domestic animals, raw ilk and straw braid expected as regular freight, while of imported goods, cotton, kerosene oil, paper, machinery, iron, ¢ ¢. will be of greatest importance for the "railway. On the nearly-completed trading port of Tsingtao the Company has secured sutticient room for the conveni-nee of its goods trafic.
It is anticipated that the new railway, planned by a combination of German and English banking firms, will be traced from Tientsin to the Yangtze valley through Shantung, xo as to connect with the company's future terminus at Chinanfu.
The whole of the Shantung railway will, in accordance with the company's chart be finished on or before the first of June, 1904," Continental Correspondence."
Text read from the printed page and cleaned; old type leaves the occasional error.