for the Fourteenth Annual General Meeting to he held at the Offices of the Company, No. 22, ber 1899, at 2.30 p.m.
Kiangse Road, on Tuesday, the 7th Novem:
In presenting their Report for the Season 1898-1899, the Directors are able to congratu-Into the Shareholders on the great imprese: ment which has taken place during the past year in the financial position of the Company.
Crop.—The area cropped between Ist Sep: tember 1898 and 31st August 1899—the twelve months under review—has been 1,274.25 arlengs (1,698.5 acres) which have produced Piculs 54,920 (3,269 tons) of sugar, making an average of Piculs 43 per arleng (1.9 tons per acre): the proportion of No. 1 sugar has been 80% of the whole output, as against 78.67 last yen, the best previous Tecord, The average price realised has been $6 net per picul, as against $5.83 per picul last year.
"Molasses and Rum.—Tho quantity of Molasses sold, as compared with previous years, has been very small, there having been prac: tically no demand for this product: on the other hand, a considerably. larger quantity of Rum has been made, the prices realised having been higher than usual.
Plant.—The additions to the plant during the season have been unimportant, the amount appearing under this heading in the Balance Sheet having been applied to the cost of new cane punts. There have been no additions in the factory, which has worked well throughout the season.
Buildings.—A new iron chimney has been erected to replace the old brick chimney, which, besides being too short to give the required draught for the furnaces, was found Directors. Mr C. J. Dudgeon resigned his seat on the Board on his departure for Europe, the vacancy cing filled by Mr. E. Anderson, whose appointment as a Director requires the confirmation of the Shareholders, Mr. J. H. McMichael, at present on special eave of absence, retires in rotation as required by the Articles of Associntion, but offers himself for re-election Auditor.
Wingrove again offers himself for ctl Shanghai, 27th October 1899.
W. V. Drummoxp, Secretary.
Text read from the printed page and cleaned; old type leaves the occasional error.