For Presentation to the Shareholders at the Thisty-Fourth Ordinary Meeting, to he held at the Company's Oifices on Thursday, the Sth March, 1903, at 11.30 a The Directors have now the pleasure to submit their Annual Report and Statement of the Company's Accounts made up to lst December last.
1901.—The Balance received Deduet Claim paid, in 1902 Deduct Return Pre-
Balance of Profit It_is proposed to transfer the sum of 818,581.13 from the Extra Reserve Fund, which, added to the above profit for the year 1991, will enable the Board to mend the payment of the usual Di of $6 per share, or $120,000, and Bonus to Contributors of Prei the above transfer the Extra Reserve Fund will stand_at 872,760.42, as shown in the annexed Balance Sheet.
1902.
Account at the close of this y as $262,897.67, showing a gain of 385,578.46 over the previous 12 months, in spite of the losses being somewhat heavier. pinectors.
Messrs. H. W. Slade, A. Haupt, and resigned their seats on y, and Messrs. G. Balloch, Michelan, and A. G. Wood were invited to fill the vacancies on the Board. These appointments will required the confirmation of siders Messrs. N. A. Siebs and E. Goetz retire by rotation, and, being eligible, offer themselves for re-election.
Text read from the printed page and cleaned; old type leaves the occasional error.