An extra-ordinary general meeting of the Ewo Cotton Spinning and Weaving Com pany, Ltd, was held yesterday afternoon at the offices' of Messis. Jardine, Matheson and Ca., the General Managers, No. 27, the Bund. The chair was occupied by Mr. Inglis (Chairman of Directors) and there were present Messrs, A. McLeod, P. Layers, Teew San (Directors), D. Landale, J. Buchanan, J. Thompson, J. C. Hanson, Tong Kid-son, D. MacHatiie, L. E. Waller, Shewan, and others. The shares repre= sented were 3,890.
The Secretary (Mr. J. McKie) having read the notice convening the meeting, Phe Chairman said thatthe resolutions he had to propose hal been in their for some time. ihe present meeting called in order to carry the schew: e outlined in those resolutions into effect in accordance with the ordnances under which the com pany was registered. The first resolution dealt with the reduction of the face value of the shares from Tls. 100 to Tls. 50. This did not alter their intrinsic value and it should place the company on a_ dividend paying basis, The second resolution, if carried, would effect a saving of about 17,000 a year. The third resolution a recommendation concerning the General Managers. At present a commis-ion was charged under the Articles of ion both for buying and selling, and prov ion was made for 'IIs. 5,000 for otice expenses. It was proposed to waive the pre-ge each way on the buying and 4 selling,'
charge only ten per cent on the net profits each year. This would save, in non-dividend paying year, Tls. 25,000. If no one had any remarks to make, he would propose that these resolutions as printed and circulated should be passed.
Mr. A. McLeod seconded the proposition, which was carried unanimous!
The Chairman announced that a confirmatory meeting would be held, the date to be published next morning.
A vote of thanks to the accorded ea the motion of M brought the meeting to a conclusion.
The Resolutions passed are as follows —That the ewptal of the Company from the sam of Tis.
9,000 divided into 17,500 Shares of 109 each to the sim of Tls. 759,000 ded isto 15,00) fully paid up Shams hand that such reduetios she 2,500 Shree of teexising Shans which have not been issued and by exncelli which has been lest or is 11 epresented by available asse's to the extent of Cis, 3D per Shure up-n each "f the 15,020 fully paid up Shares which have beea issued and are now outstanding.
Text read from the printed page and cleaned; old type leaves the occasional error.