Extraordinary General Meeting.
An Extraordinary General Meeting of shareholders in the above Company was held at the Compiny's premises, Nanking Rou, at 11 a.m. on Saturday Jast, the Sth inst., when the following gentlemen wes present:—Messrs. J.D. Clarke (Chai man), W. Hayward (Managing Director), J. Sach, E. R. Palmer (Seer tary), Nelson (Legal Adviser), J. A. Ballard, Capt. Knights W. J. Vine, A. Bill, Toxer, J. C. Quicl rman and S. Remedios, repr outing a total of 3461 shares and 244 votes.
jertly after the appointed hour the Gentlemen, as there is a quorum present, and the hour for the meeting has arrived, T will ask the Secretary to read the notice convening the meeting.
This being done the Chairman continued.
Gentleman, you have heard the Resolutions read by the Secretary, and I think they speak for themselves and requ very little explanation from me. Your directors. after considerable study have thought it advisable t" propose to you a further inevease in our eap'tal, Tt will be axatifying to you to know that the increase of our business justifies your directors in calling this meeting to consider the resolu tions now before you, and I sincerely hope that you will all approve of the conclusion we have come to. Oar capital, as you are aware, now stands at $280,000 and propose to mise it by issuing' 7,000. additional ordinary shares of the face value of $20 each, which will increase it by $140,000, making the total, if these resolutions' are missed, $420,000. The new shares will rank for dividend "ud in all other respects together with the shares now existing, and we want you to authorise us to allot these 7,000 additional shares at par among the existing shareholders, so that each shareholder will be entitled to apply for one new share for every two he now holds. You may be sure that your dire:. tors would not have asked for the issue of these new shares unless they were certain that the business of the Company needed it, and that they felt convinced that the increase of the business called for it. We have of late frequently felt ourselves crippled for want of ready cash, and have had to go to our bankers fo advance what was required, but even bankers kick when one's overdraft exceeds what they think is proper. We have not only to stock the largest store in Shanghai, but we have also stores in Tientsin and Hankow that must be provided for. With your permission, gentlemen, we will issue these new shares, after the confirmatory meeting
Text read from the printed page and cleaned; old type leaves the occasional error.