Maloo Market, Road. ug Roa, thong Keo Road Yhung Kee Market Hon. Man Woo. jon eral Ssu; Broadway.
Took Loong Woosting Roa.
Newwaa Astor Road.
Game Dealers, Sitaation, Yun Mow Yak Foong Ching Kes Shun Maw Maloo Market, Export from Catile-shed Rejected at Cattle-shode.
The ninth ordinary General Meeting of Messrs, Lane, Crawford & Ca., La., was held at 11, Nanking Road, yesterday afternoon, Mr. J. Ambrose, Chairman, presided. There were also present, Messrs. W. Cope and J. West, (Directors), Capt. J. P. Lowe, H. H. Read, C. Grant, D. Campbell, A. C. Newcomb, F. Hulbert, R, Macdonald, Dr.8. W. Pratt, H. Edblad, E. H. Dunning, J. Bell, and L. Castro (Secretary). Shares represented, 2,028.
The Secretary having read the notice convening the meeting, the Chairman said Gentlemen,—The Report and Accounts having been in your hands for some time we may, I presume, take them as being read. These Accounts contain all the information your Directors think nec: sary to publish, but there are some of the items in them to which I wish to draw your attention. On the credit side of the Balance Sheet the outstanding Accounts under the heading of "Sundry Debtors" amount to $92,339.97 after making ample allowance for bad and doubtful debts, but in addition to that allowance a special Reserve of $5,000.00 ing the than shown in ovr Balance Sheet to the 29th February, 1904, which is sider, very satisfactory cent increased turnover during the year.
Our stock has been valued on very conservative lines and stands at $134,489.94 or $27,412.03 less than Inst year, which reduction is due to increased busi during the year, but particularly during January and February when we bad large cash sales.' This difference has, how largely disappeared wit importation of our spring goods, We took advantage of the high exchange to remit during the latter months of last year to our London agents, Messrs. Crawford, Stott Ca., the funds to pay for the majority of our apting purchases, and the balance of those remittances in their hands at 28th Febraary was $26,043.90. The money represented by these remittances was lying here at credit of Current Account, earning only two per cent per annum, and by adopting the course we did, we effected a considerable saving in bank interest and benefited our consti-tents. Our investments during the year have been increased by the purchase of 75 Shanghai Gas Compat shares at a cost of $10,342.88. Thi account now stands at $21,285.03, and these securities, if realised at current market rates, are worth approximately $24,768.00 or an increase of say $3,483.00 on what they now stand at in our Balance I Under the heading of Liabili sundry creditors amount to $4,217.07 or '$1,417.10 less than the previous year. The not profit for the year, as you will see, amounts to $55,427.55, which I hope you will cou-sider satisfactory. Out of this was paid an interim dividend of 5 per cent, and from the balance, together with $21,582.25 brought forward from last year, m all $64,509.50, your Directors propose paying afiunl dividend of 7 per cent, and bonus of $2.00 per share, "ud carry forward $42,009.50, With regard to the bonus of $2.00 per your Di considered that in view of the successful year we live bad it could reasonably be
Text read from the printed page and cleaned; old type leaves the occasional error.