Debts due by the Chinese Government stand at $166,711.77, an crease of $6,283.49, which is repre" sented by interest $13,628.32 less payments aggregating $7,344.83 by the Government during the year:
alluded to this item in my speech Inst, year, and it is to regretted that, while no effort is spared by us or our Legation to obtain payment, the Chinese Government fails to' liquidate this out~ standing debt like many other of similar nature.
Our expenditure in interest during the year was $55,163.57 against a credit of $10,859.94 in 1923—clearly showing that our products went into consumption slowly, and, unfortunately, frequently at a loss. In this connexion our position will of course be weakened by the with-@rawal of nearly three lakhs to pay dividends.
In closing my remarks on the: accounts Tesire to record the regret of the consulting committee lat their inability to provide a bonus
special recognition of their services for staff-at the mills [during a very trying period.
Labour Troubles At all our mills short time was spasmodically resorted to from July until November owing to paucity of demand for our products. At the latter end of November we again reverted. to" full time -which
Text read from the printed page and cleaned; old type leaves the occasional error.