To the Editor of the "Caiwa Matt."
Stn,—Referring to the correspondence "A Shareholder" appearing in the "Daily Press" of the Ist inst., in which it has been uncontrovertedly shown that if the fleet of steamers was disposed of and the assets realised, a return of about $300 per share could be made to the shareholders, who are at the present moment unable, through the policy of the Directors in declaring a dividend of 6 per cent on a record year's working, to obtain the par value of their shares. It is manifest that the interests of the shareholders in the Far East require more than the Directors "consistently conservative policy" to be safeguarded—enunciated by the Chairman at the last general meeting held at London.
As there is not the slightest doubt that this "policy" could only but benefit a select number of shareholders, it suffices for the present to accentuate the fact that 5 per cent dividend was paid in the previous year when recourse had to made on the Reserve Fund for such purpose, and 6 per cent dividend was
Text read from the printed page and cleaned; old type leaves the occasional error.