The annual meeting of shareholders in the Shanghai Waterworks Company held on Tuesday #fternoon, 26th 1, at the offices of the Company, Kisngse Road. The chair was occuy by Mr. A. McLeod (Chairman), and there were also present M—srs. J. W. Hardi J. Cooper, G. A. Matshews (Director 'A. P. Wood (Secretary and ict), and J. M. Young. W. H. Ponto, Purell, E. 8, Perrott, and H. G. Gardner, representing 3,343 share-.
Mr. Wood read the notice convening Se meetin The Chairman said—Th- report and accounts for the pst year live been in your hands for some time, and I have no Uoubt that you will take them as rosd, and hope you will consider them, as the Direct 15 do, satisfactory, showing xs they do a very marked increase its the "business of the Company. Looking at the working account you will see that the revenue for th pet y ar is Tls. 769,426.83, as inst Tls. 239 999."3 in 1899, or an in-tease of The 29,427.13, which, I think, you will admit is a very considerable dvance for one year's working, The expenditure hus al-o increased, the total outlay both in London and shanghai being Tis, 92,590.63 as against Ils. 84,210.62 in the previous year, or an increase of Ths. 8,38) for 1900. The balanes " f our working account amounts to Tls. 176 816,20, as against Ts, 158.789.11, living an increase of Tis, 20.6:7.14. nnd as the result of the entire year's working, we have a: credit to Profit and Loss account available ior division, a sum of Tis, 107,392.50, against Tls. 85.075.61, showing an increase of Tis, 22,316 89. Yeu will see from the report that it is proposed to appropriate ths sum as follows:—to byyment of Final idend of 80/ per share a ex. 2°83. 'Us, 79,145.03; to transfer to Reserve Fund Ts. 20 009 (iner it to Ts. 75.00 carry forward 10 new account, Tis, 8,247.47. 'The firs' half of the pst year was exceedingly quiet and the outhwk anything bat bright, culminating in the serious political outbreak in the North, when, ax you are aware, it was estimated a large number of natives left Shanghai, and consequently our revenue from that source was seriously affectes, but the arrival of so many refugees filling all xvnilnble houses, the number of the men-of-war and transports arriving at Woosung and the military of several nations quartered xt Shanzhai made the latter half of the year the busiest om record, and accounts for the satisfactory ineresse in our revenue, Although many natives Lace retuned fo Shanghai, it is estimated that at the end of the year there seeromany empty lise previous appli with water, The thanks of the Company are due to the Muvicipsl Council and the naval and military authorities for the great amount of trouble taken in arranging for the protection of the Compiny's property during the period when serious troubles in the Settlement were anticipated. To he position to supply mare satisfactorily than can vt pres-n' (owing very often to bad weather) the shipping outside Woosuag, contract has been inde for a seam water hont to be completed by end of August. The new works mentioned at the last mee ing as in progress have been completed and have groutly increased the efficiency of the works, ws the benefit derived from the two new intakes, one gravitation, the second pumping, have certainly justified the penditure as the Company is sow in a po: Hien irrespective of tide to always fill the Settling Reservoirs, allowing x longer time for the water to settle ant thus greatly: relieving the work to be done by the Filter Filer Bed is in ewure of construction Beds, As you will seo in the report, a new
and the time ha: arrived to oh ain a new pumping engine capable of punyping 250,000 gallons per hour in the Water Tower. The resent three engines have daving the pest Year done their work wort satisfactorily and. tan keep up he supply during the steamer hmnths, but should "any accident occur causing the stoppage of the large Nu. 3 me, the Nes. Land 2 are now insutticialone to 1 the water require' at that season of the year. Ie has there Leen decided tr order at once new er"
to prevent the setivus inconvenient any stoppage in the supply might eve to cumstmers. The completion of the dwelling house at the ec riy's station at poo for the foreman in charge, al much closer and bert-r supervision, has well repsid this expenditure. © The dear of Me. J. W. Hart, formerly Engineer-in-Chief of the Company, of the original promoters of the enterprise and at the time of his decease Consulting Engineer
Text read from the printed page and cleaned; old type leaves the occasional error.