There have been several meetings during the interval, though none of an exciting character, the proceedings being of a purely formal nature. The shareholders in the China and Manila Steamship Company imited, met on the 23rd instant, The said they had had a very successful year, and they had been compelled to secure more tonnage to keep pace with the requirements. Their purchase of the Perla had been a fortunate one, for they got her on advantageous terms and she had turned out very suitable for the trade. They bad contracted for two new steamers of a more modern type, which they expected to receive carly next year. The prospects for the current year were very fair. The report and accounts were passed nem. con.
The half-yearly meeting. of the shareholders in the Hongkong Hotel Ca., Ltd, was held on the 26th instant. "The report and accounts were adopted unanimously. The chairman explained that the Board in paying the large dividend of ten per cent for the half-year (part of which came out of profit on the sale of a small corner of their re~ clamation) were influenced by the action of the shareholders at last meeting, when they amended the report and voted a larger dividend than that proposed by the Board, and by intimations that a similar course would be followed this time unless a dividend to the same amount (10. per cent) were paid. If, however, any shareholder present should be of opinion that this dividend was somewhat beyond the bounds of businesslike caution they would be glad to hear him. No one responded to this appeal, however, and the report was passed as presented.
On the 27th instant the. twenty-third ordinary yearly meeting of the shareholders in' the China Sugar Refinery Company, Limited, took place at the offices of the General Agents (Messrs. Jardine, Matheson and Ca.), when the report and accounts were passed unanimously, the Consulting Committee re-elected and the auditors re-elected. The chairman said they had made a claim for loss at Tientsin the Chinese Government and an equitable settlement was hoped for. The competition of beet sugar was still felt in the Eastern markets, but they had been well employed and were in favourable position so far as stechs of new sugar were concerned and the outlook for the current year seemed satisfactory.
Not so favourable was the account the same gentleman had to give at the annual meeting of Luzon Sugar Refinery Company, Limited, held immediately afterwards, They had been reduced to the local demand only in the Philiypines, and stocks soon began to accumulate they had to close down pending scme new outlet being found for their production, The sum at debit had, however, been reduced from $25,679.41 to $10,011.88. He was sorry to say that the refinery would have to remain closed for an indefinite period. The report and accounts were passed and the Consulting Committee re-elected.
Text read from the printed page and cleaned; old type leaves the occasional error.