The annual general meeting of the Shanghai Tug & Lighter Ca., La., was held at the company's offices on Monday. Mr. John Prentice pr: sided, supported by. Messrs. H. Tibbey, H. W. Lester, J. Harold. Dollar, W. J. N. Dyer and T. W. Mitcebell (Secretary).
The Chairman said:
Gentlemen—The report and se-Jcounts for the year ended December 31, 1924 having been in your hands. for some time, with your permission, we will take them as read. The result of the year's working which is better than that of the previous year, We consider very satisfactory. The amount available for distribu tion after the payment on August 19 ast of 3 per cent. on the prefer fence shares and 12 per cent. on the ordinary shares is Tls, 176,634.60, which we recommend be dealt with, for 1925 Reviewed at Annual Meeting The annual meeting of the shareholders of the Shanghai & Hongkew Wharf Ca, La. was held on Tuesday at the offices of Mesers. Jardine. Matheson & Ca., Ld. general agents to the company. Bir. A. Brooke Smith presided Supported by Mr. Pan Ching-poo, Mr. C. G. 8. Machi Knight, Mr. P. A. Ca" and Me. H.W. Lester, directors, Mr. P. A. H." Chambers, _super-intendant and Mr. H. S. Martin, secretary. Altogether there were 14,001 shares represented.
The Chairman said.
Gentlemen.—Following the usual custom we will, with your permis-ion, take the report and statement lof accounts as read.
The result of the past year's working is encouraging as, while the profit falls short of that for 1922, our record year, by Tls. 26,- 184.38, receipts from steamers show a marked increase, which is satisfactory feature. At our wharves on the Shanghai side we were kept fully employed and at. times unable to accommodate all Pay a final dividend of 34 Percent, on preference ay fla dividend of Tie Ber share on ordin:
ary theres Adil to. general Ts the steamers offered to us. On the other hand our Pootung wharves: have not been as busy as we should like, and your directors hope steamship companies will in future make greater use of the excellent facilities and deep draft of water we have for working steamers on the other side of the river and for which our:
You will have seen by the profit Jand loss account that Tls. 30,000 have been written off for deprecia-Repairs ete., to the fleet have been charged as usual to working recount. During the years we have added to our fleet the salvage tugs ey" and "St, Aubin" and the motorboat "Seou Our claim for salvage of th.
Joga" Triesting 8. No Core ste. Perrin has not yet been eried.
all and judi, clients pay 15 per cent. less for receiving, storing and delivery than.
Hongkew.
Text read from the printed page and cleaned; old type leaves the occasional error.