The Chairman said—The report and accounts have been in your han 's for some time, and with your permission we will take them as read. This being the first general meeting of the Company T have not much to say on the subject, I think you will agree that " company, which hi only been in existence for one year, being able te pay a 6% dividend is very good, and compares favourably with any other company which has been started in Shang-We lave increased our ex pital to 200,000, and we took over the old com any by giving them slixres for the amount for which we purchased the proerty. With this additional capital we fave brought out a new plant, which is now here and in course of erection. With this plant, our old plat, and the plant of the present company, we shall he able to meet the wants of Shanghai for many years, You will observe that we have got a balance of Tis, 4,591.93 for disposal, and with this we recommend a dividend of 6 per cent to the shareholders, I retire as a Director, and offer myself for re-election, and Mr. J. H. Osborne also offers himself again as auditor. I am willing to answer any questions put to me by shareholders.
Phere were no questions, and the Chi man proposed that the report and statement of account for the year ending 30th November, 1899, as presented, be accepted and passed, Shewan seconded, and it was carrie', The Chxirman proposed and Mr. Buchanan seconded that a dividend of 6 per cent on the original capital of 75,000 be declared and paid to shareholders of record on the 18th April, 1900.
This was curried unanimously.
Mr. J.D. Thorburn proposed, Mr. M. Wolff seconded, and it was carried, that Mr. J. Prentice ben ceted " Director.
Mr. J. M. Young proposed and Mr. Durean Glass seconded, and it was carried, that J. H. Osborne be re-elected auditor, to serve until the next general meeting of the shareholders.
Mr. D. Glass finally proposed a vote of thanks to the Directors, who, he understood, were also the promoters of the Company, not only had they been public benefactors in providing goud instead of bad ice but they lind done it cheaper.
Mr. M. Wolff seconded and it was carried, Phe Chairman briefly returned thanks, and the meeting ended,
Text read from the printed page and cleaned; old type leaves the occasional error.