Following the statutory meeting the first annual general meeting was held, when Mr. Welch again presided.' tu addressing the meet ing he sai As it is necessary, in order to comply with the Companies Ordinances, to hold an ordinary general meeting of shareholders once at Toast in every calendar year and as our first financial period will not terminate until December 31, 1928 which means that the first accounts will not be ready until the spring of 1929, your directors hi thought it advisable to take advantage of this gathering to do so, and to give you what information they can regarding the Company.
This company, which obtained its certificate to commence business on January 5, 1928, was formed to acitiire certain options and to carry on the business of a race course company in all its branches and in particular to lay oura greyhound Race course in Shanghai; a site which we think favourable has been acquired on lease with an option to buy the freehold at a later date if deemed advisable. A large number of tested greyhounds have been put-chased. in England and as most of you know the first shipment arrived on the 22nd instant, with trainers and assistants: we lost only two dogs by death en route and the rest of the dhimals have stood the voy age remarkably well, Iighly satisfactory and" reflects great credit upon all who were connected with their transportation. A farther lot of hounds will arrive in a few weeks: all the necessary machinery has been ordered and we hope to start erecting it very shortly: meantime a tremendous amount fof work has been accomplished in preparing the course: the kennels were completed some time back and when you sce them you will, I sure, be entirely satisfied that all possible care has been taken in thely ign and erection to safeguard health of the animale As you are no doubt aware, we are not the only company in Shang~ hai that is about to embark upon. the business of greyhound racing. 'There are two others. The Greyhound Racing Association of China, with a track at Ward Rond, and Lo Champ de Courses Frangais, with a prospective course inthe southern' portion of Mr. Harry Morris' garden in the French Concession, These courses are geographically so situated that it is) probable that a large percentage of the regular attendants at each will be drawn from residents in widely separated districts, so that, [the huge population of Shanghai, there should be ample scope for all.
In a totally now venture such as greyhound racing is in China many knotty problems are bound to arise, and 1 would like to take this opportunity of stating publicly that the spirit that dominates your Board, and I am sure I am only echoing your sentiments when T say. this, is not one of cut-throat competition but rather one of the most friendly rivalry in the real sport ing sense, There are many pro-Blems ahead of us, several connected with the psychology of the Public that we hope to cater to, and we should each on occasions be able to benefit from the experience of others and thus in time raise the sport to the highest level of effi ciency for the amusement of our patrons, I venture to express the hope that our relations with these other companies will be such as to develop spirit of ce-operation and mutual assistance in overcoming the num erous diMiculties that are sure to. be encountered from time to time.
Under the powers given them. in the Articles of Association, your Directors have ce-opted as' addi" tional' members of the Board, Messrs. V. 8. Chow, R. G. MeDonald and F. N, Matthews, and it will shortly be proposed that their lection be confirmed,
Text read from the printed page and cleaned; old type leaves the occasional error.