An extraordinary general meeting was then held, Mr, Pearce pres dit for the purpose of sidering resolutions for a arrangement of the share capital.
The Chairman said: Gentlemen.—In proposing Resolution No. there is but little for me to s2: upon the subject, except that i reducing the denomination of your shares from Tls. 100 to Tls. 10 each, it gives smaller capitalists an opportunity of investing in the shares and consequently a wider spread of shareholders in the company. It is difficult at the present enhanced cost. of our shares for the general public to take un interest in a small lot of shares, but by reducing the nominal value as suggested in the resolution an opportunity is afforded the larger shareholders to dispose of a portion of their holdings should they desire to. Unless you have any questions to ask, I have much ple:- sure in proposing Resolution No. 1, reading as follows:—That each of the existing 100 taels shares in the company's capital be divided into 10 fully paid up shares of Tis.
Mr. Ezra seconded the -resolution, which was unanimously carrie The Chairman: Gentlemen, By the fact of your having just passed Resolution No. 1, it becomes necessary ta alter certain wording in the Articles of Association; these alterations merely imply multiply: ing the number of shares, where mentioned in the articles. by ' 10. I therefore propose the adoption of Resolution No. 2.:—2.—That the Articles of Association ci the Company be altered in the man.
ner following (a) In Aiticle 71 the words "eight thou.
sand" shall be substituted for the ight hundred." (b) Article 80 to be amended to read as follows:—"80—Upon a show of hands every shareholder personally present shall have one vote. At a poll every shareholder shrill have one vote for every share held by him up to 100 shares, and he shall have an additional vote for every 50 shares beyond the first 100 shares up to 500 shares and an additional vote for every 100 shares beyond the first 500."" (c) In Article 92 the words "five hundred" shall be substituted for the word "fifty, (a) In Article 97 the words "two hundred and fifty" shall be substituted for the word "twenty-five."
Mr. Wells seconded the tion, which was carried. referring to the number of mints operating in China in our leader on Tuesday we might well have included the mint at Yunnanfu. This one is rather remarkable in that it is the only mint in China, we believe, that mints gold coins. Tang Chi-yao, who till recently was Governor, ordered the: minting of a ten dollar gold coin, which is about the size of a_ sover reign, and decreed that it be accepted, with penalties for refusal, as the equivalent of ten Chinese dollars. It was recently, and probably is still, in common use in the
Text read from the printed page and cleaned; old type leaves the occasional error.