We have received from the shanghai Waterworks Ca., Ld., the report and statement Of ae counts which he directors. will preterit al the annual meeting of] shareholders ea Ay as fol Tt will be seen From the aw counts that ihe grots revenue for the year from all kouecrs amounts to Be 1,206056 as against 1955,917.85 in. 1902. quel that the Binlahcn of Working Accou transferred to: credit of Profit Loss Account is Ts 5 against Tls. 611,041
After wetting off Tls. 110,792.01 for deprosiakion on manent works, pitying interest cle tures and sundry other items, the nett prof for the year is Ts. 167,808-98.. Tor thir must be added Bie. 2050188 brought For On Jay cipal pany that ft was advised that the effect of passing the resolution Stated above, with the proviso, contained in' Subsection 3, was! that the Murteipal Council could not exercise the powers entrusted to it except with the authority of a Special Meeting of Rate. avers at which quorum would he" present. and that under the cumstances it might be neces: the whole matter de the at An cuter ivitend of 10! por slture ab avlinngn 3/02 Geolaced ad "susie payable, the balance of Thaw boew decided to! pared (subject to the ratepayers" approval to be sought. at the next annual meet the Company's undertaking, "te, to be arrived at on the Residents in the French Concession in the. vicinity of Route Doumer and of the roads near by in the Model Settlement, as well of the surprised, {o say the least, at a new form of vehicle, rubber-tyred with four wheels, but with motive power furnished by a cooli Tiding astride what appeared to be a bicycle, "To the casual roamer of Shang hai roads, with their high-power motors, brokers' traps and ricshas, this was indeed a strange sight, for it seemed to be a combination of a reduced old style, fig front whoo! "biyele "with "rather swanky-looking, but low-swung. riesha' attached bel The puller, or in justice we may usher, for the energy was suppl
pedals, did not seem to be ill at ty' a Yownwurd pressure on ease, but, rather looked as if he enjoyed his task, not because of he novelty of the urrangemeat, Tout perhaps because of the quiet, easy sedate movement, and. still more from n sense bf superiority lover his fellow. workers.
After some little persuasion the coolie permitted a test to be made as to the riding qualities and a representative of. the "North-China Daily News" got into the seat, after which he calmly mount-add Tie. 49,000 transferred from Equalization of 1) J Fund, making the amount available for distribution Ts, 127,075.59, which th Directors recommend be dis bosnd of ax follow "To poy uns divnten fur the Tots un S300 ieee ies ore 16 10 0: 96 Corey toro t+ New tei Mao by Fates Agreement of collect revertts comin "ete with the] inerenged cost of ysrovidingg an clfisient supply of water. Hitherto the bit laws Gt Working Account bean iterated bythe profit derived from (ley Biktings Defoortmnt, iit, this year's result Taw hes ahvappointing.—Tha prot from te ile oF water Shows an tnseies ever that of Isis cP legis sears' purchase of the profits earned during thy year 1022 (ie, capitalized at Oh Por cent) and nuggeato that Letter be accepted by the Directors as an intimation of its intention to purchase, subject to confirma tion at the next mooting of rate payers. The Directors replied on February 22, Stating that they were unable to axerw that: thi prise to be pail shoul be menyed 4 ed the bicycle, stepping right over the saddle: it ix a ladies" type of tele with no eross-har. slowly applied his fect to the pedals and the ride was begun. there was no jerk at all and the ion was smooth and forward not the usual up and down side-to-side motion the ricsha was well under Municipat on the basis suggested by the] that than in an ordinary riche snd passenger sits lower lig "Connell thing before. one but. the strong persia im eer that ik and pedaling ins oF the {o appeal to arbityrion. They "lie fed further tint, some come Tie MODUS OPEANDI, fight be arrived at on The vehicle is the first of the basis of a profit-sharing ae pedicabs which" are now. bein} rangement in liew of percha
pimesrenas ao excesocrene. [inspection at the garage in which ise ighai strecte, A closer lered by the authorities for
was kept, showed it to be a Of the Ts, 300,000 debentures simple mechanical machine—two Hearing interest ab thy rote of 7 wheels in a line, the forward one ver ocht. per annum offeretfor 8 Jere at the end of 1022, Tle, where the traction is applied, 18
1€6,000 debentures were taken upjin.
the price of Thy 107 per cent and Tls. 309,600. debentures at the: price of Tls. 105 per cent To the Fear are to more 20 tina upon the sot ithe body: swung on ree
Text read from the printed page and cleaned; old type leaves the occasional error.