During the year unfor review, we arranged for our Chinese tenants to pay rentals according to the for-calendar instead of by the Chinese Moon. This, of course, resulted in a certain decrease in the amount received for Chinese rents, but on the other hand your directors feel that the time has come when all tenants whether foreign or! Chinese should pay their rentals upon the same basis. This action fon the part of the Company was much appreciated by the Chinete and we feel quite certain that it! Was a wise and just move, The'
Text read from the printed page and cleaned; old type leaves the occasional error.