Dividend of Tls. 4 and Bonus of Ts. 2 Proposed: Credit of Tls. 257,672
The report of the directors of the Shanghai Mutual Telephone Ca., Id., for presentation to the shareholders at the twenty-third annual ordinary general meeting to be held on Tuesday, May 3, at 4 pin, states There has been a steady increase in the business and the position of the company continues in every respect satisfactory. The work completed during the year has been a record, the number of new fines installed being 1,974, as against 1,750 the previous year, amd the number of instruments in use at the end of the year 15,579, against 12,922 last year, showing an inereasa of 2,647, against an increase of 2,420 the previous year. The work incidental to the above instellations was also very heavy, the total length of single wire run underground during the year being 6,536.6 miles and aerial 6,122 miles, and when the number of poles, ducts, etc., necessary to be erected and laid in this connexion is taken,} into consideration, some idea. of the amount of work carried out by the of the company will be arrived To meet the growing increase in the company's subscribers in the Western District, it was found necessary to make arrangements for the extension -of the West Exchange and the tender of Messrs. Stromberg Carlson of Rochester, amounting to G. $109,850, was accepted. The delivery of the extension will be towards the beginning of next year and will be just in time to meet. the increasing requirements of this district. A tender has been accepted from Messrs. L. M. Ericsson & Ca. of Sweden, for the installation of an automatic system at the East Exchange, at a cost of about £18,000 and it is hoped to start on the installation towards the end of the year. This installation, it is expected, will give a good test as to the working of automatic telephones and your directors will then be in a position to advise the sharcholders as to the desirability or otherwise of ultimately adopting automatic throughout the company's system. The additional extension of this exchange for 2,400 lines, at a cost of G.$139,950, has been completed and has considerably helped to meéti the ever increasing service in the Central District. The North Exchange has also been extended, an additional 960 lines having been installed at a cost of G. $59,850.
Text read from the printed page and cleaned; old type leaves the occasional error.