The annual general meeting of shareholders in the Weihaiwei "Land & Building Ca. Ld., was held at 11.30 a.m. on Tuesday at the offices of Mr. C. R. Shaw, No. 8 Jinkee Road, when Mr. C. R. Shaw, supported by Messrs. E. E. Clark and R. N. Macleod (Directors) presided over an attendance representing 2,173 shares.
In the course of his speech the Chairman said:—Working account shows Tls. 102.33 more profit than last year. Rentals were Tls. 398.77 more, but repairs were also Tle. 361.01 more. Decreased fire insurance, owing to having one less bungalow to insure, and difference in exchange makeup the balance.
Profit and loss account, after transferring Tls. 1,000 to credit of renewals and improvements account, shows a balance of Tls. 4,596.82, out of which it is proposed to pay a dividend of three per cent., or Tls. 0.60 per share, absorbing Tls. 2,204.40, and to carry forward the balance of Tls. 2,392.42, for the coming summer have already been signed for all the bungalows. Regarding] 29. the future, I have nothing fresh to tell you except that the Government is prepared to grant a franchise to a local company about to be formed to supply electric light at Weihaiwei, and whilst this, of course, does not mean security of tenure, it shows that the Government is prepared to consider applications. from public utility companies having for their object the development of Weihaiwei, There were no questions, and the formal resolutions were carried. including one for the payment of dividend of Tle. 0.50 per share. tion, and the object of this meeting is merely to remedy this and empower the Directors to dispose of such shares as they may consider it expedient in the interests of the Company. I will now put resolution to the meeting, it being proposed by Dr. Kew, and seconded by Mr. A. H. Mancell:—that the increase of Capital authorized by the Special Resolution passed and confirmed on July 5 and 21, 1916, respectively, be made by the issue of those shares which have not been already taken by the existing shareholders to such persons and in such manner as the Directors consider expedient in the interest of the Company.
Th resolution was unanimously carried.
International Savings Society The annual general meeting of the International Savings Society was held on Monday when a dividend of Tls. 41 per share was declared.
The meeting agreed to the following proposals To add 85,000 to the legal reserve, making a total of $11,826.78.
To add $20,000 to extraordinary reserve, making a total of $47,307.-
To write off $12,268.24 on furniture and fixtures account.
On December 31 last the Society's reserves amounted to, $1.854.439.11, and the investments to $2,133,117.-
Text read from the printed page and cleaned; old type leaves the occasional error.