Mortgages show am increase of 200,000 brought about by wade to-a new—shipping'
with whom we have entered into a working: arrangement fand who control a number of vessels operating on the China Coast. These advances ave fully secured by mortgages and by arrangement with the owners have been instraing a considerable ional repair work to. the company. Our association with this new concern can be con-desirable in every way and it is confidently expected will result in continuity of work being placed in our hands which otherwise might not have come out way.
Review of Year's Working: Development of Bus ess annual general meet Shanghai Tux lighter Ca.
Text read from the printed page and cleaned; old type leaves the occasional error.