In spite of many handicaps. the! that trade is growing and we rest assured that the possibilities fare immense, but their realization is not in sight and T feel it would be unwise to predict that we shall succeed during 1925 in repeating, the figures we have under considera.
jon—-all I can say is that we are well equipped to handle as much as and more business than in 1924, The ever increasing assessment of our properties within the Settle ment and consequent higher taxes add to working costs and there is little hope of the latter being! reduced. ice the report was issued gi names of the. divectorss who are all eligible for re-election, I'am pleased to say that our old friend Mr, C. G. S. Mackie, on returning, from "Hongkong, has' re-joined the board and also' offers himself for}
Text read from the printed page and cleaned; old type leaves the occasional error.