The Chairman, in proposing the adoption of the report and accounts, mentioned that the latter were in_a very satisfactory condition. The reserve fund stood at Tls. 8,610.67.
"The appointment of Mr. K. M. Cumming and Mr. F, R. Ormston as hon. secretary and treasurer, respectively, was confirmed. Messrs.
M. Cumming, F. R. Ormston, F. B. Pitcairn, F. A. Robinson, W. J. N. Dyer, W. L. Hunter, Hugh Martin, R. Grimshaw, H. A. Hovenier and Capt. E. I. M. Bar-reft were elected to serve on the working committee for the ensuing year. The 10 members composing this committee together with Mr. S. A. Sleap, Mr. HI V. Wilkinson, Mr. P. E. Webb, Mr. H. T. Hancock, Mr. L. A. Harrop, and Mr. R. W. Wingrove were elected to serve on the new ballotting committee.
A member said that the price of shares was going up considerably, and asked if the committee intended to stop this practice among certain members who sold out.
The Chairman—The Committee is quite aware of the fancy prices that some. have to pay. Yow cannot, however, tell a member at what price he may sell his share.
Answering further questions, the Chairman said it would be impossible to call in all the shares of the club at a certain price, or to enable a member, on resigning, to get back the price of his share, at price fixed by the club.
As a matter of fact a member in a hong had a share and usually transferred it to someone while on leave. It went back to the original holder at the same price. Only a very few went in for this profiteering.
Tue Chinese Ratepayers' Assoc-lation announces that as a result of balloting which took place at the Chinese General Chamber of Commerce on Saturday afternoon to decide who was to take the fifth seat on the Chinese Advisory Board to the Shanghai Municipal Coun. eil—Dr. David Z. T. Yui or Mr. Hsu Chien-ping—the latter was elected. Thus four of the original members, Messrs. Sun Han-chang, K. P. Chen, 8. Ziar and H. Y. Moh, and i ssu will serve for the ensuing year if their nominations are accepted by the Shanghai Municipal Council and the Consular Body. Dr. Yui, who was a member of last year's Advisory Board, retires. In connexion with these elections, it must again be pointed out that a number of Chinese who ara not ratepayers received voting tickets and several are known to have exercised the franchise.
Text read from the printed page and cleaned; old type leaves the occasional error.