The annual general meeting of above company was held at the offic of Messra, Carlowitz & Ca., Kiukiang Road, on Saturday morning. The following shareholders were present or were represented: Messrs, C. Rayner (Chairman), R. Koehler, Grinwald, Carlowitz Ca, the Hambu i berg & Ca., Hunter, representing in all 1,559 shares.
The Chairman read the notice convening the meeting.
'The Chairman—Tho General Agents' report and statement of accounts for the pastlyear have been in your hands for some time and with your permission I will take same as road. I think we may congratulate ourselves on another very successful year, and our prospects, owing to the steady expansion of the steamer lines whose permanent support w separate in the books, he glad to show to any shareholders, Mr. Burkill said it seemed an extraordinary thing that if the demand on the acikt works was more ti the company coul meet no profit was in first-class repair has been charged to revenue, so that our Reserve account has not had to be made, Ho thought the "Shunpao"|drawn upon. If the accounts as before could be sold for a good Tis, you should be passed, Reserve account Ho did not think it as much] Will then stand at Tsels 30,000, or of a catch being a shareholder say 124 por cent of our pi company it would tion te wi held in a fow baw lution would be cars capital.
In common with other wharves, we have suffered from last year's typhoon, but our damage has all been made good out of revenue, and Ho thought] 1am glad to say that the da lone the directors should con Jer some way of improving matters, valuable property and were getting nothing out of it.
The Chairman said the directors wore considering matters. It would be premature to say more until the plans came out from home.
Mr. Heffer asked whether the " Sbunrow the property The Chairman anid they were cooking other pr The following ros putto the meeting ant carried Proposed by the Chairman, seconded by Mr. A. MeLeod: That the accounts as printed and published be passed.
Proposed by Mr. M. Wolff, seconded That Mr. A. company.
Proposed by Mr, W. H. Poste, seconded by Mr. Bowness: That M to goods stored with us has also been As you will, no doubt, rd, your Directors have 10 Com pany has hitherto been carrying on ite business, at what we think is s reasonable figure, and in accordance with the Articles of Association they have availed jomsolves of their powers to create debentures bearing interest at 7 per vent per annum and secured on the company's entire property to the extent of Tie. 350,000, Tls. 250,000 of which is to be od class invest me the shareholders in the first place; whatever amount the Latter do not care to take up has already been underwritten at par and free of commission. Itis my duty to state that difficulties have arisen in regard to the transfer of the property to the company; we are advised, however, that our position impregnable and that the shareholders need not be under any apprehension. Our manager, Mr Rogers, staff at the wharf hi of 18 per cent, equal to Tls. 18 por share, be paid for the year 1905, Proposed by Mr. C, Hoffmann, so. conded by Mr. Griinwald: That Mr. G, Wailleumier be re-elected auditor, business of the that dividend warrants would be poste onthe 2nd of April.
Text read from the printed page and cleaned; old type leaves the occasional error.