The 37th annual general meeting of Llewellyn and Ca., Ld., was held at the offices of the company, No. 11 The Bund, on Monday. Mr. A. W. Burkill (chairman) presided, supported by Dr. E. L. Marsh (Director).
After the notice convening the meeting had been read, the Chair-
—The report and acing been in your hands for some time, I will, wit Permission, take them report presented you at the last annual meeting as it shows a profit of $6,358.56 as against a loss of $7,972.77. At the same time your directors regret that the position of the Company and the outlook are such that they donot consider it advisable to recommend any dividend. Mr. Monk, who ig at present away from Shanghai, at our last meeting went very thoroughly into the working of this Company and the causes for the poor showing we hag made in recent years, and al though we have done better, the same remarks apply with equal force to-day. We suffer from high overhead and intense competition; the former we are unable to reduce any more and the latter is more lent than ever. The Company is sound financially and the outlook is somewhat more hopeful than a 1} year ago when the Chairman stated ¢q "Unless the position of the Company improves, we should have to seriously consider the question of Viquidating." Your Directors consider that the results this year jastty them continuing with the published, from our landlords, the Hongkong and Shang-Hotels Ca., Ld that we must vacate our prevent premises at the end of the year, so we are now faced with the difficulty of finding suitable premises, T hope that this will not be too dificult and that we can remain near our present store, where we have been located for very many year As regards the accounts, they are very clearly shown and T do not think there is any necessity for me to comment on them, but before putting the first resolution to the meet ing, T will be pleased to answer any questions shareholders may wish to The Chairman then propose "That the report and accounts for the year ending December 31, 1925, together with the following recommendation as to the proportion of the balance of the Profit and loss account be accepted: to carry forward to the 1926 account, $6,979.23.
Dr. Marsh seconded the resolution, which was carried unanimous-
Mr. C. Matthews then proposed:
"That Dr. Marsh be re-elected a Director of the Company."
Mr. Burkill seconded and the resolution was carried.
Mr. Matthews then proposed:
"That Messrs. Lowe, Bingham Matthews be re-elected auditors of the company at an annual remuneration of Tls. 300.
solution was cart Dr_ Marsh seconded and the re.
This" concluded: the busines of the meeting. and Treasurer, Mrs, R. W. Gregg. Members at large elected were Mesdames J, Scott Emens, W. H. Lunt, Anne Walter Fearn, R. W. Squires, R. C. Beebe, Carleton Lacy, A. H. Swan, P, W," Giovam 3. Raven, Mrs, Emens, the retiring president of the club, presided at yesterday'smecting. In concluding. her term of office she addressed the club pointing out the achievements of the past year of club activ and the weaknesses in the club organization and work as she stw it, Among the former, the work of the A. W. C. in ce-operative work for confederation of women's clubs in the Far East was mentioned and members asked to support this commendable movement in the future the work of the A. W. C. on th Joint committee of clubwoman working for international under st in Shanghai and the Civic Department which had done much toward fostering this movement by inaugurating the international relations work which has been seconded by other clubs of the city, were commended. Especial mention was given likewise in Mrs. Emens? report to the Music and Social De-_ partments of the club in their ener-eric assistance to general functions the organization.
In explaining the existing wea) nesses of the club Mrs. Emens said the chief among these was the loch of response to bills and dues which blocked the work of the treasurer of the club, the Inck of a ce-operative effort on the part of all club mom-bers, as about 60 per cent, of them at present permit the entire work of the club to devolve upon the remaining 40 per cent. and the need for workers rather than talkers in the organization. The difficult part, of club work is not selection, Emens said, but ce-operation. As a, part of this idea it was suggested the speaker that more interest be displayed in the reading of the monthly "Bulletin" of the club which she further explained to be a sful organ with a substantial by virtue which pays for Recommendations made were for a standing Hospitality Department, for a house secretary, for a monthly. tiffin to take the place of one of the monthly afternoon meetings for a membership cam-autumn, and a for canvass of club members for the Durpose of tabulating ideas and suggestions for the future betterment of the club. As an additional suggestion, Mrs. Emens said that tone entire' day in the year should be turned over for a departmental meeting with the social gathering in the afternoon in order to bring together all the interesting topics and discussions held in the Tes departments during the year. In conclusion she extended her thanks to those club members, heads of departments and committees and others who had been of inestimable aid during the year just past.
Following Mrs. Emens' address the report of the retiring tre ure and chairman of the finance committee was read and approved. 'The reading of reports of various departments and committees was waived as it was decided to them in full in the June "Bulletin' of the organization,
Text read from the printed page and cleaned; old type leaves the occasional error.