The volume of heavy traffic in the Settlement and the French Concession has caused a continuous rise in the amount of leakage in the distribution system the cause is due} to vibration and appeared—most noticeable on roads of recent construction, Mains have been under observation throughout the year and by a close examination of all Tead Joints, which occasioned considerable excavation and may have been annoying to the users of the roads, Teaks have been stopped and between June and December the loss, of gas was reduced by 2.2 per cent Gas Sales show an increase of 6.91 per cent, over hast year which must be considered very satisfactory, The total income for the year amounts, to Tis, 1,016,906.17 against Account, you will notice, ts a profit of Tls. 303,145.93 an increase of 10.17 per cent. compared to the previous period while the net profit shows an advance.of! Tls. 21,150.94, Tu the Balance Sheet you will see that buildings show an increase, this being due to the addition of new offices, on the site of the old stable and the construction of a Garage to contain six motor ears.
The net. result of your undertaking is that w ye, after pay-mont of Interim Di jond on August 5 last of 4 per cent. obser ing Tis, 48,000.00, a sum of Tis, 215,452.85 to dispose of and the recommenda-_ tions of your Board are set forth inthe Report of Accounts which you
Text read from the printed page and cleaned; old type leaves the occasional error.