The second annual general mecting of shareholders in The Carlton, Ld., was held at No. 1¢-Canton Road on Thursday afternoon. Mr. G. Grayrigge presided and was supported by Messrs. W. J. Gande and L. Ladow (directors), C. J. L. Stewart (secretary) and other shareholders, 3,038 shares being represented.
Addtessing the sharchs £15, the Chairman said Gentlemen:—During the absence on leave of our Chairman, Mr. Welch, the honour of presiding at this meeting has devolved on me. Since we met together on June 30 last year, the main business of the Company has_ been transferred to the handsome new premises facing the Race Course on Bubbling Well Road. I dare say you have all seen the beautiful building, with its handsome interior decorations, its magnificient dining and dancing halls, which. I think I am right in saying, have no equal for beauty and spaciousness in the Far East and which are the equal of any place of similar entertainment I have seen anywhere. The new premises were opened on December 29, and, although they were then in avery unfinished and bare condition, attracted large crowds. Unfortunately the opening synchronized with a great wave of business depression, the first effects of which are felt by places of entertainment. Consequently the takings have not so far averaged up to our expectations, though the turnover in such bad times, amounting to $133,907.11, is a good augury of what we may hope to do when prosperity again visits this settlement. Furthermore. I would point out that from April 1 to December 29, 1922, the Company carried on its business in the old cramped quarters in Ningpo Road.
The aim of the Company is to provide the very best for the inner man in the dining hall, as well as good entertainment in the great ball room in the way of dancing, on an unsurpassed floor, to the strains of an excellent orchestra. In addition, various shows are ven in the course of the evening a very modest cost, the quality of which is highly appreciated by the Company's guests. The New Carlton is recognized as one of Shanghai's institutions and needs only a revival of trade to bring to consummation the expectations on which the Company was floated.
The furnishing and decoration of such a vast place came to rather ger figure than was estimat-
moment the Company is hamperconscamently: at the present ed by not having issued in the first place sufficient shares to cover this capital outlay. The financial position is having the Board's serious attention and in due course an announcement will he made as to. how the needed extra capital is to be provided.
Our theatre, the finest in Shang-
Text read from the printed page and cleaned; old type leaves the occasional error.