ual general meeting of Tangineering & Shipbuild-Works, Td., was held at" the 'North-China Daily News" Building. No. 17 the Bund, on Tuest afternoon,, My, H. E. Arnhold took the chair,' and' was supported. Messrs. A.W. Brankston, C. A.
WW. Burkill, G. L. Gamp-bell and C. A. Member (secretary).
Thene were represented—86,700 shares.
The Chairman said:
Gentlemen, The Report and Ace counts for the year ending December B1, 1924, having been in your possession for some days, T would Ask you to follow the usual custom sand take them ax read.
"The amount standing to the credit of Profit and Loss Account, including: 'The, 48,457.01 carried forward tro lust year, amounts to The, 376,204 which ix' recommended for appro= ration ax follows:—Ts. a dividend of 16 cent. on the Ordin= ary Shaves pay the Preference have dividend of 8 per ent.
Po ewsry forward balance Total Ws. 976,204.08 putting this to the Meet-however, Twill ax usual make 4 few remarks on the Balance Sheet anil in connexion with the Company's You will 1 fe sure be glad. to ear that the shoves at substantial in wtivitien, not only as compared with 12:1 but also with the previous the results are mainly at.
ble to the turnover covering due to the me crousing number of vessels visiting this port, and thereby" offering a scope to our business.
Raiding Winger Cratt We have also been kept extremely tipsy' with: new construction work, having' but and delivered daring this period no leas than 40. crat ranking from small motor boats to searing, vessels and Tam glad £0 1 able to state that. the present year hax opencel well in this direc: ivan, the Company having recently Cuntracted forthe construction of several craft, two of which are of very fair size, Other. inquiries dant indiente that during the course the your we tholi be afforded op= er tunity for further activity Shie side of our business.
Reference to the Balance Sheet! will' show you that there has again treen'a all for en pital expenditure which hax been financed Sif current. profits, without in. any Sway adversely. affecting our" cash Tlance uvallable. for the payment the dividends which you Wil pres rently be asked to. xanetion.
taind Account appends at the same figure wx in Tasty Sheet, Buildings, Plant and Machinery: show un inereuse during the year of Ths, 62,576.60, partly accounted for by the construction of two jletaehed houses on the Comrany's residential land in Wayside Park district for the nccommodati of senior members of our stof, and te which allusion was made when adilressing you lust year, Other expenditure under this heading: has in the ervetion of new wurkshope and the further conver: tion of the Company's plant. from fleam to electric power, which has een in gradual princess for some How,
Text read from the printed page and cleaned; old type leaves the occasional error.