Loss on Year's Working Owing to Closure of Works Through Strike The annual general meeting of the New Engineering & Ship. building Works, Ld., was held at the General Chamber of—Commerce, "North-China" Building, last Friday, Mr. H, Arnhold pre: siding. The number of shares represented was 52,936, The Chairman said Gentlemen.—The report and_ace counts for the year ending December 31 have been in your hands for some days and I have no doubt you will wish me to follow the usual custom and ask you to take them as read.
Before dealing with the figure! before you, I must make roferen to the generat strike, which, all of you remember, took place during the months of June September last year. This is all past history to Shanghai people, but the full meaning thereof, 80 far as our company is concerned, is only now revealed by reflection on the accounts for 1925. This is the first occasion in the history our company, covering period of 23 years, that operations have resulted ina loss, but it is no small comfort to me in addressing you on the subject, to be able to Say that these results, disappoint-they are, are solely and entirely due to the fact that the works were closed for practically four months on account of the strike, during which time our overhead charges naturally continued, outside Influence Too Strong The men themselves were ay discontented with their ons of service, and it had been a matter of gratification our management that, with exceptions, when once men entered our service, they always remained with us,' The outside influences brought to bear upon them—following the May 20 incident were, however, too strong to enable us to perstiade them to resist the strike agitators' dictates or to return to work, as was thei wish, before September 19th, During this long period of inactivity, we were in continual touch, with the men's leaders and frequently expected an early resumption of work, only to meet with repeated disappointments, owing to the strong and threatening attitude of the Labour Union: The men themselves" suffered "considerable hardship, and when eventually we.
Text read from the printed page and cleaned; old type leaves the occasional error.