ighth Ordinary Mee The eighth ordinary meeting of the Ewo Cottm Spinting and Wewing Company, Limited, was hrld on Monday after-toon'at the office of the General Managers, Messis. Jardine, Matheson and Ca.
The Chair was occupied by Mr. W. J. Gresson, and there was a good attendance of shareholders.
In proposing the adoption of and accounts, which were tal the Chairman ssid that the native cotton crop of 1902 wasan exceptionally good one both as regarded quantity and quality, but owing to heavy exports to Japan and Europe the price was maintained ata high figure throughout—the year, notwithstanding which there was an Uninterrupted inquiry for yarns which enabled them to realise the production to advantage. The balan Jit of Profit and Loss Accoun writing off the mounted proposed to ded with in the terms of the report.
Interest on overdraft was Ts. 2,000 less thin last year, and is. 7,000 less 901; "Fire Insurance sand Renewals TI: in excellent ord: it was proposed to pay might eral one, but in the circumstances Consulting Committee considered it the most advisable to divide the profits. In the matter of the reconstruction scheme the application to the Court of Hongkong was granted, and an opportunity given to the "shareholders applying for th new issue of shares, the new but issue was not applied for it had been decide' to postpone the closing date for application to the 3Ist January next was certain that the position of the Company would be strengthened if this new issue were taken up, ant he hoped th shareholders would act in accordance the principle of the scheme.
The report and accounts were adopted as circulated; it was decided t+ vay a dividend of Tls. 4 por share on the psid-up capital the Consulting Committee was re-elected and Mr, G. It. Wingrove was r-elected auditor for the ensuing year.
included the business ut the meet-
Samuel Crompton were described. These j men used horse and water for their motive power, but the advent of the steam engine, about'1790, made it possible for mills to be
rivers, which was the beginning of the built in places other than on the hanks of
Text read from the printed page and cleaned; old type leaves the occasional error.