Mr. A. W. Burkill presided at the annual genera} meeting of the Anglo-French Land Investment Ca., La.., held on Wednesday at the offices of the agents, Messrs. A. Burkill] & Sons, 2 Canton Roail. He was supported by Messrs, Ceci! Holliday and Liu Chang-yuin (directors) and Mr. E, A, Prince (secretary). here were present shareholders representing 5,527 shares.
The secretary having read the notice convening the meeting, the chairman said I will first deal with the accounts. Rentala and interest show substantial increases, with the result that the working account shows a profit of Tls. 155,421.87, as against. Tls. 129,339.92 for the previous year—an increase of Tis, 26,084.14, Profit and loss account shows a credit balance of Tls. 114,851.57. This amount is Ts. 63,578 less than, last year, but it must not be forgotten that last year's accounts were augmented by the profit of Tls. 80,000 on the sale of Estate "A." East. In actual working, however, the accounts show a deaided improvement over the previous year, with the result that the direc tors are glad to be able to recommend a final dividend of Tis. per share, making & per cent. f the year, With regard to the allocation of the balance at credit of profit and Joss account, it is proposed to place a further Tls. 40,000 to depreciation and renewals bringing this account: up to Tls. 340,000 and to place TIs. 8,504.02 io special repairs account, making this account, with the balance unused last year, Tls. 10,000, which is being put aside for altering and converting the upper floors of the prgmises situated © on Rue clu Consular and Rue Montauban into small up-to-date flats and offices. The increase in our property account of some Ts. 76,000 is the cost of erecting Chinese houses of a superior type on a portion of Estate "A." West, formerly a godown site: the rebuilding of 4 portion of Estate "D." on Rue Brodie A. Clark, and also the cost of purchase of B. C. Lot 2410 referred to in the particulars of estate as Estate "R." The district in which this property is situated is a rapidly improving one and it is proposed to develop it with Chinese shops and hongs at the first opportunity. Our over-
Text read from the printed page and cleaned; old type leaves the occasional error.