The third Ordinary General Meeting of the above Company was held xt the Hotel on Wednesday. Present: Messrs. L. R. Burkhardt (Chairman), P. F, Lavers, Paturel (Directors), J. M. Tavares (Mau-ager), J. C. Porter (Secretary), G. H. King, J. Rosenbaum, W. Brand, E. L. Mondon, P. Marshall, A. R. Leske (Auditor), Baron Ward, M. L. Kristensen, and J. Joseph, representing 1,738 shares.
The Secretary read the notice couvening the meeting.
The Chairmau—Gentlomen, The report and accounts have been in your hands for some days and with your approval we will accept them as read. You will note with much satisfaction that the directors are able to put before you a largely improved result of a year's working und while this can be attributed in a measure to the abnormal conditions prevalent through the East owing to the war, it {will be clear to you that a very large amount of praise is due to our manager and his stof for the very satisfactory credit balance that is at our disposal. Tue directors ask youth rest satisfied with a 10 per cent dividend because, though more might be paid away, it is impossible to forgot the results of former years and the extraordinary fluctuations Hotel affsira which render it in our opinion quite desirable to keep @ sum of money on one side for needs the need we hope for is nothing more serious than the payment to you of an interim dividend at the end of the next six months. The siukingfund is carefully of accumulations, by which eupital can be repaid to them in full when the Company's leases expire, I do not know that 1 have further comments to make; the results of the year are only the outcome of very hurd and zealous efforts on the part of those who are working for you, and it will be by result you will have to them. Before asking you to report and accounts, I shall be pleased to answer to the best of my power avy question that may be put to me.
Mr. Rosenbaum asked if an interim dividend could not be paid during the rent year, as the shareholders would not ig for their money. ian again' explained that Hotel matters fluctuate la great deal, and that because the firs six in oaths of a year we.e very good it did not follow that the next six months would be equally prosper ous. Now they were in a good position they might be able to pay interim dividends for the next twenty yests.
Mr Brand asked if any ste; had been taken with regan to the rebuilding or tending of the Hate!. He had liven to the Antor House a few evenings pr.vieusly and could not help n"vicing what a beautifal hotel it was. Othec hotels were also extending and building and the Hotel des Colnies would sven seem very small. TE shareholders want-d good dividends comething would have to be done.
"Phe Chairman replied that the matter was under cmsid-ration. He thor that in the course of the next two month< something more would be heard about it For the preset he coul! not go beyond that.
The following resolutions were then pat tothe meeting and carried unanimously Proposed by the Chairman, seconded by Mr. P. F, Lavers: That the report and balance-shoet be adopted, Proposed by the Chairman, seconded Paturel: That a dividend at the rate of 10 per cent on the amount of the capital of the Company be dee. red, and the same pay sble on the 18th inst., vc as soon after as possible, Proposed by Mr, A. R. Leake, seconded by Mr. Brand: 'That Mr. LR. Burkhard', the refine g -ir-ctor, he re-elected.
Prop sed by M.. P. F. Lovers, so udod by Mr. ©. Paturel: That Me. A. R. Leake be re-elected auditor, The Chairmsn anid that considering the jataff had worked so well he propos ~d that they should be given a bonus of 10 pee cent on th it salaries, Mr. Leake, in seconding this resolation, said he had'had many opportunities of seeing how the stof had worked. They had earned every cent of their boun In reply to Mr. Brand the Chairman explained thit only the foreign staff aad the Chinese clerks would receive a bonus, the boys and cook had already received The resolution was carried unanimous. ly, us was also a vote of thanks to the directors and the chairman, proposed by Mr. Brand.
Text read from the printed page and cleaned; old type leaves the occasional error.