Your directors desire particularly to place on record that in their the adverse result of the way be lack of effort and energy on the part of the company's staff. In Mr. Whyte we have very conscientious and extremely hard-working general managee, who has received every assistance from the other members of the staff; all of them have done their: best under circumstances which were against the production of a better visible result. The general depression in the trade of this port still cent 3 we all know from the experience of our own private businesses, but your directors feel that we have just as good a chance any of our competitors to extract the maximum advantage fro.w such conditions as may obtain during the current year, and. assure that your directors will conto combine to the best of your The balance save being only lable for dispose $7,993.44, your directors recommend that the whole of this forward to the new account, which 1 shall formally propose after first niving you the opportunity for any questions you may wish to ask or any comment youn to make.
The resolution proposing the adoption of the re accounts was seconded by Mr. A. W. Burkill ind carried unanimously.
On the proposition of the man, seconded by Mr, F.
Ox Mr. A. W. Burkill was On the proposition of Mr, G. Grayrigne, seconded by Mr. A. A. Whyte, Messrs. Lowe. Bingham and Matthews were re-elected auditors for the ensuing year at a remunera-n of Tls. 300.
Bonus for the Star, Mr. Grayrigge—OF recent years it has been my privilege to propose 8 vote of appreciation of the work of the manager and his staff, fol-Towed by the tangible recognition of their services by a bonus. On lust year's working, the accounts unfortunately show a small loss due' to circumstances. which the staff could not control. T know the value of their work and the keenness with which they attend to it. The Company's position is very sound and despite the small loss incurred I for one should not like the staff to entirely forego the customary bonus. With your per-have much pleasure resolution that the staff be paid a bonus, the amount of which to be left to the discretion of the Directors.
Mr. E. Kale seconded and the motion was carried unanimously.
Mr. Kale. also remarked that in giving the bonus they gave with it their real appreciation of the work put in by the staff during the year. Mr. Whyte, their manager, worked very hard for them, and' he was well supported by the rest of the stall. said he would like ireetors with these expressions. They. fully-appreciat-
Text read from the printed page and cleaned; old type leaves the occasional error.