The annual meeting of this Company was Uld at No. 2, Jinkee Road, on Thursdas There were present Messrs. A. W. Burkill (Whairman), J. M. Young, and H. Snethlage (Wirectors), RK, Von der Leithen, C. Sturman, Tinghoong, representing 1,386 shares.
Seitz, Yung Kee, Sey Yubsp and Suns Mr. C. Ly Seitz was appointed Secretary to the meeting.
Phe Chairman—As the report and accounts have been in your hands for some days, Will, with your permission, take them read. In the first place, you will see that the accounts cover & period of 13 months, and this change of our financial year lis boon made, as ib is very i ent for us to close our boc January; we do nearly all with Chinese, and of course China New Your affects us considerably, and it is very much easier for us to get ab our true position us fegurds (he various payments duo us and to take stock after, and not before, New Year. Turning to the accounts, 1 ws not think that much explanation is required, they are very clearly stated. In the first Place, you will notice that we, hace a dverdvaft with our bankers, and this is explained by the very big stock we have to tarry. Lam glad to say, however, that the amounts, "bills payable" and "sundry creditors" have been practically paid, ai since our accounts were made up, and we have also reduced our debit balance with our amount, as was explained last year, inst Bankers. As regards sunday debtors, necessarily be a big one, owing to the our business, but the sundry amounts making up this total have all vee carefully gone into, and can be taken as safe. Gur stock of timber is a very large one, but found it is essential to the suc ce. of this company to have a stock qualities, and to also keep supplies at the outports where we are doing a very satis. factors business. As regards the disposal of the bilince at the credit of Profit and Loss account, we have made ample allowance for depreciation, and trust that it will meet with that we have purchased a lumber yard; a your approval. You will see in Ube report Very suitable site on, favourable tories was offered to us and as it is very necessary have a. property of our own, your directors decided to accept it, The payment, har been Spread over a term of years, and we ast now laying it out properly, our machinery as to avoid the heavy cov hire. A plan is now on the table which will explain our ideas. As regards the new issue of capital, the business is increasing 39 tint Sve have decided to make a fresh issue, ottering the shareholders one for everly three they hold; the payment will be spread over cit months, a8 the money will not, be required fall at once for our new plant. This increase of capital is essential for the proper development. of our business; we have an incressjug demand to meet, and consequently have heavier stock to carry; and as just sid, our new lumber yard has to he out,'on proper lines, and this expend which will include more machinery for sawing purposes, will repay us very handsomely on bur outlay. Before concluding, on bel the Directors I would like to express appreciation of the able way in which General Managers have carried out their duties. The past year has been. full of Aicuties and Ht is greatly to their credit we have done so well.
The following, resolutions were carried unanimously without discussion air. Vong: That the report of the Dire.
Propoced by, the Chairman, *secondet tors and statement of accounts for the year Ended the 29th February, 1904, as presented.
"Proposed by the Chairman, seconded by Mr, Snethlage: That the "Directors authorised to pay a dividend of 10 per cent per annum in the form of interest on the paid-up capital from the date of payment the 29th Februars, 1904, Proposed by Mr. Sturman, seconded by Mr. Yung Kee: That Mr. A. W. Burkill be re-lected a Director of "proposed by Mr. Von der Leithen, se: ed by re-elected auditor. i THE
CHINESE HOSPITAL, HANTUNG ROAD, The annual meeting of the above hospital [was held at 2, Sha tung Road at 4 p.m. on Tues last, The following yemlemen were present:—Sir Pelham Warren (Chairman), Messrs, 'T. E. Trueman, Ws Scott, J. L, Scott, W. J. Milles, IND. veil Macleod, IND., C. Iburg, W. N. Bitton, J. H. Teesdale (Hon. Secretaiy), and Shi Ching-foo.
The Chairman sid that the first business of the meeting was to pass the Treasurer's report and accounts for the past year.
Mir. J. L. Scott. proposed and Mr. Walter Scott seconded that the report and accounts "This resolution was curied unanimously.
The Chairman—I propose to read a short account of what has been done since the Fast meeting. On 13th May, 1903, at a C mittee Meeting it was resolved "That the medical members be appointed a Submittee to arrange for the preparation of for the erection of the new female wards and operating room." The new operating room is practically completed though the furnifirb "and" Sporting table fave vet smoothed down. The ground plan for the supplied and the, walls and floor durfacs now female wards has been prepared and ts now in the Sub-Committee's hands. At a Committee Meeting held on the 2ist October, 1903, a letter from the District Commit ice of the London Missionary Society was read conveying a Resolution passed by the Directors of that body in Jenson Hospital Trustees be approached with a proposal that the Mission take orer change of the Medical Superintendence of the Hospityl by the appointment of a Medical Mission: who should be allowed the use of the Doctor's house. A draft reply was submitted <0 the meeting informing the Mission that was beyond the powers of the Committee to allow the Hospital to pass out of, its jurisdiction and control, but that the Committee were willing to transfer the medical management to the Medic j iis appointment being approved by them, and to his being under their direction and control, the terms and particulars of his service to be embodied in an agreement, and to the appointment by the Committee of Visiting Physicians. Such reply after discussion and various emendations was unanimously approved, and a copy directed to be forwarded to the Mission. At a Committee Meeting held on the 15th December. 1903, the correspondence between the Com. mittee and the London Mission was read and after discussion it was resolved that:—" The Secretary be authorised to accept the offer of the London Missionary Society Corporation to provide a duly qualified medical practitioner to have medical. charg: of the Hospital, subject to his appointment being approved of br the Committee and his being during his term of service (which shall be for five yours) under their exclusive direction and control, the terms of such service to be embodied in a short agreement. And that the Committee be also entitled to appoint a Consulting Surgeon, who shall be, ex officio, a member of the Committee."
The Agree ment has been "rebared and a Graft submitted to the London Mission. awaits their approval, This scheme is an important change in the management of the Hospital and it has only been made after very careful consideration by the Committee. The advantage of securing the services of a ran who can devote his whole time and xi-tention to the medical management of the Hospital has been considered so great that the Committee have cordially welcomed the proposal of the London Missionary Society and heve confidence that the new step will ensure the eficiency of the Hospital work in oven a greater measure than hitherto.
'The Committee regret having to record the death of Mr. Tong Kid-son, who was on the Honorary Committee. Mr.' Seaman resigned on his departure for home, and Mr. Tbury accepted office in his stead. "Mr. A, M. Reith resigned the Honorary Trearurership on being tas taken over is ransferre hankow Grant ameuton the Comittee cee remains to confirm Mr. Iburg': i
he Rev. W. N. Bitton said that ho understood that' by passing this resolution. they were simply confirming the committee's action for the past year. 2 The Chairman said that the resolution sou elect Mr. Thun for the present ye was proposed by, Mr. Walter Scott, Soule by Mr, J. 1 Soot that Mr. Tbuny's Seconded by Mr. J. I.
This was earied nem, eon Macltod seconded a ressluton that Mrs Mr. Teesdale then proposed and Grant be treasurer in place of Mr. Reith.
sing put to is ied meeting this was carried filing Me. Tong Kid-son's place and evens There was then some discussion ab tually it was agreed that Mr, Tburg should ask Mr, Young Ta-zun, a prominent sill merchant, if he would fill the view ney Dr. Jead proposed and Mr. J. seconded that "the Committee for last with the change of Mr. Grant for Mr. Reith be re-elected."
The Rev. W. N. Bitton asked if there were not other vacancies to be filled on the committee; if, for instance, it was not neces sary to elect someone to fill Mr, Addis's place daring his absence.
Mr. Teesdale said that Me, Addis had not resigned his trusteeship and he read a rule to the effect that if a trustee were absent for more than three years another woul' hinwe ¢ be elected in his place. Mr. Addis was only expectell to be absent, for twelve months, so i was quite in order for him to remain a trustee.
"The Chairman said that that concluded ths business of the meeting, but that, he would glad to answer any questions in his power.
The mooting closed with " vole of thanks to the Chairman and the Hon. Secretary.
Text read from the printed page and cleaned; old type leaves the occasional error.