The 23rd annual meeting of the wei Land and Building Ca., was held at No. 10 Canton A. J. Welch presiding, supported by Mr. R. E. S. Gregson and Mr. W. H. Smith, and an attendance representing 2,245 shares.
The notice convening the meeting having been read the Chairman said The report and accounts have been in your hands for some days and with your permission 1 will take them as read.
Working account shows Tls. 1,477.19 more profit than last year. Rentals were Tls.-547.23-more, but repairs were Tls. 1,156.61 less. All other items were approximately the same as last year, except Govern-more, due to the company's land having been re-assessed at a higher value, with a corresponding increase in land tax.
Profit and loss account, after transferring Tls. 1,000 to credit of renewals and improvements -account, shows a balance at credit bf Tls. 7,621.86, out of which it is proposed to pay a dividend of 6 per cent., or Tls. 1.20 per share, absorbing Tls. 4,408.80, and carry forward the balance of Ts. 3,213.06.
Leases for the. coming summer have already been signed for all the bungalows.
Regarding the future, according to the telegrams, Weihaiwei is tu be returned to China, but at preent no details have been received of the manner or date of return.
There were no questions and the following resolutions were carried unanimousl, Preposed by the Chairman and seconded by Mr. R. Gregson—That the report and accounts as ented. be passed, and that a dend of 6 per cent, or TIs. 1.20 per share be paid.
Proposed by Mr. E. E. Clark and socdnded by Mr. A. L. Anderson—That.Mr. R. E. S. Gregson be re-elected a director of the company.
Proposed by Mr. J. P. Lowe and seconded by Mr, A. L. Anderson—That Messrs. Lowe, Bingham Matthews be re-elected auditors to thd company.
Text read from the printed page and cleaned; old type leaves the occasional error.