Report of the Directors for presentation at the Seventeenth General Meeting of ihe Shareholders to be held at the office of the Agents, on Tuesday, the 24th March 19 p.m.
The Directors have the pleasure to submit the Audited Accounts for the year 1202, the amount at the credit of the Profit and Loss Account is Taels 61,530.55, Three Interim Dividends aggregating 13 Taels_ per Xhare have been paid, amounting (o Taels 36'000.00. leaving Wnlance of Taels Sour, Directors propose to appropriate this. balance as follows:
Pay a Final Dividend of 7 Tis.
per Share (making in all 20 Nhs. for the year) 14,000.00 And carry forward to the New 21,550.53 Account Tis.
The Superintendent's Reports on the Hulls, Hoilers and Machinery of the Tug-Boats Kelin, Rocket, Fuble, Samson, and Vi in, are satisfactory.
Amalgamation with the Car panies.—The scheme for the amal with the Shanghai Boat Company, mited. and the Cooperative Cargo Boat inghai. Limited. of which points were circulated amongst ders in October last. was con-
That it is expedient to effect an amal-amination of this Company with the Two Cargo Boat Companies to form a yarly to be named The. Sh Vighter Company. Limited.
This decision was subsequently confirmed at second extraordin general meeting held on the 23rd February. 1905.
The Directors of the respect ive Companies were duly author red and are now arranging the necessity formalities for the new Comqany. which will date from the Ist January he Shanghai Tug-Bo: ed, will be put into Tq) up Director resigned Board early in July last and parture in the German Mail Steamer for Nome ons well-earned holiday. The steamer called foochow, and whilst there, we much regret to record. he died snd-He had been connected with this riy from its formation and was ady to place at its disposal his thie advice awd grest professional abi Mr. W.
Dobie rej October last.
Text read from the printed page and cleaned; old type leaves the occasional error.