Reroxt any Barance Suet, 80th June, 1904.
The following is the seventy-eighth report of the Court of Directors of the above Company, to 4e presented to the ordinary half-yearly general meeting of Shareholders to be held at the City Hall, Hongkong, on Saturday, the 20th August, Hongkong, y gust, at noo!
To the Proprietors of the Hongkong and Shanghai Banking Corporation.
Gentlemen,—The Directors have now to submit to you a General Statement of the affairs of the Bank, and Balance Sheet for the half-year ending 30th June, 1904.
The net profits for the period, including $1,416,366.08, balance brought forward from last account, after paying all charges, deducting interest paid and due, and making provision for bad and doubt: ful accounts, amount to $3,520,374.81.
The Directors recommend the transfer of $500,000 from the Profit and Loss Account to credit of the Silver Reserve Fund, which Fund will then stand at $7,000,000,
Text read from the printed page and cleaned; old type leaves the occasional error.