A. shareholder asked what was holding up the negotiations as regards the merger with the New Engineering Ca, the chairman replying that he was not chairman of the company until recently and was not fully conversant with matters. The chairman added that the matter was-a question fof the value of plant, land and the @ocks, and the principal matter.w: the respective valuations of the two The delay, the chairman continued, was at the moment due to the faci that the chairman of the other company being away from Shanghai and being expected to return until October or November, Negotiations had. been carried on between the chairmen of the respective companies, and on one of them going on leave had-been -mutuatly decided to Teave matters "in "abeyance. The negotiations had now been In progress for eighteen months, the shareholder who asked the question pointed out that the Aelay [twas doing no good to either company, fand suggested that fo speed up negotiations would be food for shareholders. To this end he suggested that other members of the boards of Girectors be empowered to carry on the negotiations, There being no further discussion or questions, the following resolutions were then put to the meeting and passed unanimously:
Proposed by Mr. 1. V. Wilkinson and second by Mr. TG. Weall, "That the directors" report and state of eight per cent.
Der sate, to. shatcholders on the Ye= ister at date, Proposed by Mr. J. H. Cubbon and seconded by Mr. W. Thomson, That the election of Mr. R. Mein Austin, Mr. H. V. Wilkinson and Dr, 'A. Korff as directors of the company be confirmed.
Proposed by Me. W. 'Thomson ahd seconded by Mr. J. Cubbon, "That Mr. 1. V. Wilkinson and Me'. ted directors of the Proposed by Mr. W. Thomson and seconded by Mr. J. H, Cubbon.
Text read from the printed page and cleaned; old type leaves the occasional error.