'The annual general meeting of Messrs, Gordoy & Ca, Lid, was hhcld on April 26 in the company'
ces, 137 Szachuen Road, when Mr.
i, Bain, the chairman, presided, supported by Messrs. A. D. Bell and Movie (directors) and Mr. rested year, a new type of heating has been successfully introduced into Shang~ hai ty our engineers, under the Hed ray heating, from are entitled to assume keeps well B. Gange (secretary). There was an attendance representing 3,181 shares. the course of his address, the The report and accounts having with your permission, take them sad, Feport does not call for any special comment: and you will doubt have noticed that no further shares have been issued. effort to keep up with the devolopments, both in Europe and Americ in all' matters pertaining to the business in which we are engaged.
Before closing, I should like, on behalf of the board of directors and shareholders of the company, record out appreciation of the conscientious services rendered by our manager and staff, and to hope that next year we may be able to 'a bonus for their You are also perfectly familiar with the state of business conditions The Resolutions existing during the past 12 months: so that I am sure that you will readily agree with me that trading conditions have net warranted any great optimism when looking forward to the annual meeting.
Turning. to the balance sheet, it will be noticed that our sundry creditors are considerably reduced: and that our stock on hand also stanely at a lower figure. But, while this amount represents the lowest possible amount of stock which we should carry, the present state of exchange is not sufficiently attraetive for us to increase our stocks 1 will now ask your conside to the following resolutions:—'That the report and accounts, printed, be sdlopted—Proposed Mr. C.' M, Bain, and seconded by Mr. A. D. Bell, That the balance at credit of! profit and levs appropriation account fas recommended by Mr. A. D, Bell, and seconded by Mr. J. It, Moodie.
Moodie be re-of the company.—Proyored by Mr. C. MI. Bain, and rided by Mr. A. D. Bell more than the general turnover in debtors stand at a lower figure than last year: and our in-vernments, taken at cost, are the same ax in last balance sheet.
Tt will also be noticed that our acevunt is not overdrawn,
Text read from the printed page and cleaned; old type leaves the occasional error.