The next subject referred to in the directors' report is the diminution of profits caused by the operations of the Lanchow Mines. It was stated at the Inst annual general mesting that the competition of the Lanchow Mines was steadily increasing, and that in view of the close proximity of the mines to ours jit assumed a serious character and that might, in certain circumstances, become the duty of the board to tak drastic measures to deal with it, bor ever seriously such measures might effect our profit for the time being.
Tu the early part of the year our ssies were good, bat in the summer we began
Text read from the printed page and cleaned; old type leaves the occasional error.