"The report. and accounts. for, the pea anda December 31, 1926, have ing. been in your hands for fame time, with your permission, will take them ax read, The result of war's working shows an ages ciable uivanee on the previous year, And, though not up to, the level of 1924, your directors consider it.very satisfactory, considering the udic ions ruling' driving the period dader review. Business during the has undoubtaily: been hamper by the general feeling of trade me security, and the fortunes of your company necessarily run band in rand with the volume of impe ts and perhaps more especially of exports from thin port.
The accounts before you show the increase in cubital authorized at, the extraor ry general meeting held January, last year, and It me dicative of the sound position of Sour company that the whole of the new issue has been taken up." You will recollect, this inerenge apitol was made to permit of Your company entering the land transport business ax an aijunet to our exist= ing lighterage operations. The goma pany" nie feet of motor vehicles Htarted to operate fu August ang, by. the end of the year, the majority on the road." A number of rowular constituents have already ovalled themselves of the fe4Qure We are now able to offer of a through Tate for. transporting their cargo down to ship's side and your cizeetors are optimistic of inergased Business on these lines, Meanwhile, we are developing a connexion! for land transport alone which will hug~ ment these earnings from, this Section of your preperts. OW to the number of motive-owned veheles tepetating in this city, lant transport [iter are comparatively low arch to Compensate these Tow rates, a large Nolume of business is mecesjarr. You sill no doubt be interested to hear that we have enjoyed a fair Share of the land transport required: iis the Sha chai Defence Force Fince its arrival Kore at our regular come mercial rates,
Text read from the printed page and cleaned; old type leaves the occasional error.