Tu regard to the profit and loss account, this is aut nearly x0 satis factory' as in years one by, and you will please note Thx, 15,000 has boon transferred to this account from the equalization of dividend reserve. By #0 doing we are enabled to pay a dividend, and I trust this has your approval, AS stated in the chai och of lust year, circumstances are very, adverse to succerstul trading; and things were made much worse by the troubles of Met year which affected our turnover quite consider ably, The vol of busines, now on hand is quite good compared wit Inst year, however, and ther reason for some optimism. Four of your directors having resigned cly request. Messrs. Moodie, Macbeth, Chard and Watt have been asked to fill these vacancies and their appointment requires your confirma ion, Tne accounts are presented their usual form and ave, 1 trust clear to you all. If any further in formation is desired [shall by pleased to furnish same to the best of my ability.
The Chairman:—About February 27 an item of Tls. 10,000 was yver= drawn by one of the officials of the firm and this hag not yet been repaid. You can rest assured that it will he brought in as soon as pos sible, The Resolutions This completing the discussion the following resolutions were That the report amd accounts as printed be adopted—Proposed Mr. J. D. Gordon, seconded by Mr John R. Moodie, That' the balance at credit of profit and loss account be dispo: of ax recommended—Proposed Me, W. P. Chard, seconded by Mr. J. Macbeth, That the appointment of Mr, J. Moodie as director of the compan be confirmed—Proposed by Mr. Macbeth, seconded by Mr, Gange.
That the appointment of Mr. Macbeth as director of the company be confirmest—Proposed by Mr, Paterson, seconded Mason, That the appointment of Mx. W. P. Chard ax director of the voinpany. be confirmed—Proposed by Mr, John R. Moodie, seconded by Mr, J. Macbeth, That the appointment of Mr. R. A. Watt as director of the company ie confirmed-Proposed by Mr. Mason, seconded by Mr. R. Paterson, That, Messrs, Lowe, Bingham Matthews be re-uppoitted auditors, of the Company—Pronosed by Mr. seconded by Mr.
Text read from the printed page and cleaned; old type leaves the occasional error.