ment Order in Council, 1919.
Price: 25 cents each. bui! balance and loss accoun:
I feel that a special word of commendation is due to the manager and the staff et the mill for their work during the past year, and the proposed bonus is a ' tangible iwshieh I trust will Lave your entire and well deserved appreciation of iv keenness and devotion to 1 duty The foreign staff's provident rence dividend, the first; fund. sanctioned by the consulting on cur profits, absorbs Tis.|cominittee <t the end of 1918, is redated. -The staff con-bute 3"per cent. of their monthly tee pay Tls. 3} po: Sealaries, and the company a similar us Tls. 700,600 or slight] more naunt, an} 7 per cent. compound han half the ¥ear's profit, terest, computed half yearly, is Through having one-third of the! allowed' on the total. capital in preference the! I venture to here that you will beholders are in ajSanction the creation of a Chinese fort ana ion when abnormal staff superannuation fund with the profits are made, apd the return appropriation of Tls. 29,000. The eas compares wisdom of thisgstep is 0 too apparent if we are to retain the by other mills in Shanghsi. services of our best skilled native present dividend workers, in view of the _induceed t ments that are being offered to 5.55 per Tis, 5 them by the new industrial con-years, which works out {cerns that are constantly appear-ge of just over 22 per ing in our neighbourhood.
This new fund will enable your 'The addition of Tls. 210.000 to! general managers to advise their start a reserve fund will give ad-chinese staff at the mill that, ditional support to the company 10 Nears' ser each emjdnd whilst not being earmarked at/ployee will have credited to his or present for any special purfose,'ter account, 10 per cent. of their pit can, in case of necessity, be pay for each year's service from the utilized in various ways, time of joining the company: with-The appropriation of Tls. 100,060! drawal will only be permitted on ito cotton Auctuation fund (mak-' retirement after 20 years, or on acing it altos 0 count of ill health or disablement place us in a sound position, in after 10 years' service. It is not view of the wide fluctuations that intended that interest shall be
Text read from the printed page and cleaned; old type leaves the occasional error.