In conclusion, the committee want to ersphasize the success the Assoation has attained during its frst _year of existence. Tt is agreed both chy' torsign importers and Chinese dealers that the Association, introducing now terms of sale, has inated tke speculative elements aid smaller Chinese dealers and kas placed the paper business on a sound footing, which has resulted an extraordinarily good year for the Chinese paper dealers. The sociation has been recognized out the Far East as an authority the paper trade and it has proved that the weight. it carries fay such is of no small importance As already" mentioned, there is food reason to-believe that it will be equnily considered in the various home cotintries, and the members can be satisfied at their decision to form the Association. Tf more ce-operation could be obtained Amongst members in such a way fas to make the paper trade a better' paying concern to foreign importers and stop the policy of offering us_prices, where there is no reason for such, the success of the Association would be complete.
The report and accounts were adopted.
The following were. elected committee:—Messrs. W. von Nor-mann, A. Eveleigh, J. F. Acheson, HI Stromwall, H."W. Breuer aad]
B. Gallop.
The question of a standard sale contract was brought up and the Chairman said the committee already had discussed, it, but, eon-sidered the Association was too young to take such a step. Several members spoke in favour of such a contract and it was decided to leave it to the new committee to prepare 'a draft for the consideration of, members,
Text read from the printed page and cleaned; old type leaves the occasional error.