Capital Tls. 300,000 Capital 275,000
H. J. Such, Es 4
Report of the Directors.—For presenta tion to the Shareholders at the Thirteenth Annual Meeting to be held at the Company's Otlices, No. 18, Hankow Road, on Tuesday, the 24th March, 1903, at 4.30' p.m.
The Directors beg to submit to the Shareholders the duly audited accounts for the Ht J. year ended Sist December, 1902.
The Balance at the credit of Profit and Luss Account is Tls. 19,493.18.
Directors propose to deal with To pay a Dividend of Ts. 3.00 per Share (Equal to cent) on 5,500 Sh To carry account As considerable amount has been charged in the accounts for the year, representing tot new plant. as well as thorough over rectors do not con-ay further amount should be placed' on one side as depreciation in the meantime.
During the year the Compan have been well supplied with they look forward to the munt Toast. the usual yourly quantity. business shows an increase and promi further exten: The hun Pao" newspaper continues to hold its favorable position. waving now fully recovered from the setback during the troubles in the North. shows a satisfactory improvement over the pre The smaller branches of the business have yielded as: ory result.
Text read from the printed page and cleaned; old type leaves the occasional error.