The fourth ordinary Gen 1 Meeting of the above Company was held at the Com-offices in Hankow Road on the 11th Dr. Neil Macleod in the chair, The following Shareholders were present at the Meeting: Dr. Macleod, Chairman, Messi 1M. Campbell, O. Middleton, and He: Directors, There wer Huter, Hi me, Gubbay, Gore-Booth, rs, Saies, Denhaun, and Har cretiry, Mr. Gusta Okerg, tead the notice convening the Meetine ne Chairman—The Report isl Ace counts been in your hands ior some your permissive we shall tuke accounts are presented in the same form as last year with a few additions and alterations, to which would. like to draw your attention. In the working account we now show the amount returned subscribers who are shareholders. If all subscribers were shareholders, instead of this sun being Is. 1,573.27 it would be three or four times that amount. ub. scribers do not seem 10 be alive to the fact that so large a reduction of telephone subscriptions as 20 per cent is allowed to shareholders located within the limits of {the settlements. On the debit side of this account you will see that "salaries and wages" exceed those of the previous year 18 per cent. This moderate increase represents additional European supervision and more operators at the switchboard Recescitared by 1 G7 per cent increase in the number of telephones in use during the suse Tent? is owing to the large part of the year ata good rental. Repairs and main-
Text read from the printed page and cleaned; old type leaves the occasional error.