Saseho wires under date of $1 July, p.m., that the result of the operation on Admiral Rozhdiostvensky's temple is good. The Admiral is greatly pleased. On the 30th ult, for the first time ho was able to leave his bed and occupy a chair. But the after effects of the wound on his loft leg are still painful, and he i: ing from: rheumatism in the joint of his right knee so that he cannot yet walk.
The naval casualties up fo the 30th July total at 3,673, including 2,008 dead and killed, and 1,665 wounded.
Mr. D. W. Stevens, Japanese advisor to the Corean Foreign Office, is to pay another visit to Tokio, leaving Seoul on the 30th ult, The Governor-General of Indo-China, Paul Beau, now visiting Marseilles, emphatically declared at a banquet that he saw no reason whatever to fear Japan on account of Indo-China, adding that the apprehension of Japanese aggression is exaggerated in France, and unfounded, according to a telegram to Tokio, Very smple depreciation has been allowed on Buildings, Plant, Furniture, Fistures, Cutlery, Napery, ete., a sum of over $26,600 having been written off these various accounts, A sum of $3,000 has been reserved against Bad and Doubtfal Debts, or nearly 10% of the total outstanding, an amount which it is' hoped will not be fully required, but which the Directors think advisable to set aside to meet all possible contingencies. The proportion of bad debts is now only one-half of one per cent.
Whilst they regret ing unable to recommend a larger dividend than that paid last year, the Directors anticipate that the Shareholders will recognise that there has been a marked improvement in the business of the Company during the past year. 1n making the recommend: tions as given above, the Directors are influenced by the' necessity, which confronts them, to introduce certain improvements in the public accommodation of the Hotel.
The Directors record with pleasure the satisfactory working of the staff. Mr. Levey took over the Management of the Hotel on his return from Australia in September, and the improved financial results achieved are, in a very large measure, due to his energetic and capable management, Directorate-—Mr, A, W. Burkill resigned the Chairmanship and his seat on the Board shortly before his departure for home; Mr. Cubitt also resigned owing to absence from Shanghai, but on his return was invited to rejoin the Board, as was also Mr. Ayscough. These appointments require the confirmation of the Shareholders Mr. Anderson retires by rotation, but being eligible offers himself for re-election.
Auditors.—Messrs. Thomson and Leake but are. willing to continue in office fire-elected.
Prorirt any Loss Account for the year ended 30th June, 1905.
To Directors', Trustees', and Auditors'' Fees 3,237.00 Interest on Debentures... 54,083.48 Hankow Loss 87,344.43
$151,804.19
Text read from the printed page and cleaned; old type leaves the occasional error.