The fourth ordinary. meeting of this com-yesterday afternoon at the offices of the 'Managers (Messrs. Fraron, Daniel & Ca.). Mr.C. W. Wrightson (Ciirinan) presided, and' there were present Mesers, John Liddell, J. R. Twenty man, Eh. R. Wehrung, Wong Kiah-zir (Directors), Henry Morrise, Drummond It. Murphine, J. Chambers, Aly Hee, EL. Collingwood, H. A. de iueiredo, and E, Guillemyn.
The Chairman, in moving the adoption of the Report and Accounts, said—The Report and Accounts having been in your hands for some time we may, I presume, take them as read, I am_ pleased to be able te. point to a more satisfactory statement of Kecounts than hitherto we have. been able io lay before you. It will be seen that the balance standing at the debit of Profit and Loss Account on 31st December, 1808, was 'Tls. 44,052.61, which amount we have now been able to reduce to Tls. 25,983.10, after making provision for depreciation to. the extent of Tis, 10,000. Agency Expenses and Directors' and Auditor's. Fees re~ quire no comment, and Interest account ix represented by the sum paid ty the Bank as interest on ie overdraft may strike sume sts being particularly heavy, but it must be remembered thut our Capital subscribed is less by Te. 178,400 than the suthorived Cxpital of and though thie shortage means a rge for Interest for the pr ut, once the Company is placed on adlivide d og basis, the disndvautage sum set apart for deprecia 7 opinion of the Directors, ample, and insures the maintenance of the machinery to its full efficiency and value. Imay mention
Text read from the printed page and cleaned; old type leaves the occasional error.