Heavy Burden of Taxation May Lead to Increased Tariffs, Says Chairman 'The annual general meeting, of the Shangnal '& Hongkew Whart Ca; was held at 27 The Bund on Friday at dpm. Mr. BD. &. Beth, Chairman of the Board of Directors, presided" and' was supported by 'Messrs. Pan 'Ching-poo, H. Kadoorie, LIV, Wilkinson, D, Morison. V. St-J. Killery, and Dr. A. Korff, direetors, Mr. H. H. Lennox, secretary, shares, and' shareholders representing 14,965
The chairman said:
'The balance of working account transferred to profit and loss for the year 1084 is $756,004.50 which fs about $40,000 Jess than the previous year, a result' which considering all the Circumstances "cannot be considered lunsatistactory. Actually we more than maintained our gross revenue bhut two factors particularly operated to reduce our nett earnings. 1 refer to dredging and taxation, average we spend about $30,000.00 9 year on dredging but in 1934 these Services cost us just double this sum, This was due largely to the dry summer resulting in low water. Also owing to" the Conservancy Board deciding to clean up the channel in the middle of the river the cut thereby created considerably Bravated the low water conditions by faking water away from the sides of the Tver.
Text read from the printed page and cleaned; old type leaves the occasional error.