care, and a considerable sum of money has been spent.
The management have continually studied the improvement of ma. chinery and equipment to follow anadem reforms and advancements.
'As you are all aware, the cotton industry in Japan had until recent experienced unprecedentedly har times. It lis, however, fought with Arcisive determination' in order to eet through this most trying period and has succeeded in many kinds of experiments which have never even been considered before, and sever mew improvenients have thus been achieved. In this manner the Te-cent hard times have actually served fas an inventive to improvements and the consequent rationalization. Of the cotton industry in Jay In view of these great successes in Japan we are now try apply these valuable experinients 80 as to achieve simplification of the working process, reduction of the manufacturing cost, and increase of the proiluctive power.
"The building operations of your 'No. spinning mill having been al ready completed, the setting-up of machinery has been progressing, while neatly 80 per cent. of the whole work On your No. weaving' shed which is now under construe: tion is finished, T, therefore, expect that by the end of April next, both spinning and weaving mills will be: realy for full working, and for this! end we all ave doing our very best.
'The lengthy internal warfare in 'China has now at Inst come to an fend and suppression of the Com munists' activities in the interior to be started shortly, the politico' situation in China, therefore, may! the said to be nearly restored, and Gusiness may he expected to become prosperous with quicker movement all 094.
Although it in not possible to take am unduly optimistic view for the present moment, 1 hope that 0 ext term wal show as good a vemult-as we have had in the past one.
Now, I will say a few words regarding the appropriation of the profit. As we have almost the dame amount for this financial term, us that of the previous period, my proposals ave very mitch dike the last ones, Twill ask your! approval of these Jater on in the form of a resolution, "We have to elect a director in place of the Into Mr. Woo, also a Uirector to represent the company and two of our auditors who retire uy rotation.
This is all T have to state, but. Refore placing resolutions before you, If any one should wish to ask Any questions, I shall be very pleas answer them to the best of my ability.
"There being no questions, the following resolutions, having formally been proposed and seconded, were carried unanimously:—That the directors' report, elance sheet, seneral inventory of assets, and profit and loss accom for the 16th financial term ended Dctober 1, 1930, be adopted and pasted.—Proposed by the chairman, Beconded by Mr. K. Kuroda, 'That the directors' suggested jon of the credit. of profi account be sanctioned and paxsed—Proposed by the chair Iman,, seconded by Mr. Kuroda.
That Mr. 7. Enjoji be elected a director to fill a vacancy.—Propoxed the chairman, seconded by Mr.
Kuroda, That Mr. K. Gonno be re-clecte divector—Propored by Mr. Kuroda, sseonded by Mr. J. Inouye Mr, K. Gonno be re-elected.
ctor who represents the Company.—Proposed by Mr. Kuroda, seconded by Mr. Inouye.
"That Mr. E. Wilkinson be re: elected og an suditor—Proposed by, Mr. S. Shima, seconded by Mr.
LIK That Mr.
Takeuchi te re-lected RF an auditor to fill Vacaney.—Proposed by Mr. Shima, seconded by Mr. H. Kay.
Mr. Shima, proposing a vote of AHanks to the directors, which wax fonded by Mr. Kay and carried Uhaninously, remarked on the fine Faults of the company's. working
harks as a shareholder to both the ai rectors and the staff.
the year and expressed his Ipy order of Gen. Chiang Kai-shes, the post of Bandit Suppres-Hon Commissioner for Kiangst, Whékiang and Anhui will not sijolished until the bandit menace 3x1 the three provinces is completely,
Text read from the printed page and cleaned; old type leaves the occasional error.