The Chairman has referred (o the Association's clearing house whish will commence operations this manta. It is something that I hao een advocating for-many years. It a necessary adjunct to a stock ex: change. The. large exchanges abroad all have it. "By having the clearing house, much energy ant time of members of the Association will be economized. Business will be done on a more efficient and Acientific basis, to the satisfaction of all concerned.
In a word, the introduction of ita new system' points to the srogressivaness of the Shanghai Sharebrokers "Associations. The Associntion is to-be applauded. The busi ness community of Shanghai is to he congratulated. -Gentiemen, may I propose that we drink to the suc ce and prosperity of the Shanghai honoured, The toast was enthusiastically:
Text read from the printed page and cleaned; old type leaves the occasional error.