Extraordinary General Meeting An extraordinary general meeting of the Shanghai Cotton Man facturing Ca., Ld.., was held on Thursday at the head office, 49 Szechuen Road, Mr. M. Nodaira presiding, supported by Mr. J. Prentice, Mr. W. J. N. Dyer and Mr. K. Otami (directors).
The secretary having read the notice convening the meeting, the Chairman said the object of the meeting was to conform with requirements of the daw as stipulated in the Commercial Code, Articles 213 and 9l4. The increase in the company's capital and the mode_ of doing so were authorized at the previous meeting and the shareholders at this one had only to receive and to approve the report on how the increase in the capital. allotment of the new shares and payment of the all - had been carried out.
At the request of the Chairman, the secretary then read the report:
In accordance with the resolu-* tion passed at the third annual' general meeting held on the August 23, 1923, at 4 p.m. at the company's head office, the Board has effected the increase in the capital as follows (1) Notice was sent on August 24, 1928, to the shareholders on the register on August 23, 1993, to: allot them new shares at the rate of one new share for every two old shares.. Application for new shares was closed on the September-23, 1923. There were 16 shareholders who held an odd number of old shares, making eight new shares unallotted.
(2) Up to the closing time of application, 356 shareholders had applied to take up new shares which totalled to 39,564. There were 19 shareholders who failed to make application, and the number of such shares was 428.
(3) The above-mentioned 428 shares, together with the eight shares which could not be allotted, have been temporarily allotted to the agents, the Mitsui Bussan Kaisha, Ld., and 40,000 new shares were thus legally taken up.
(4) Notice was sent on September 25, 1923, to every allottee to make payment of the first call of Tls. 25 per share on or before the October 31, 1923, when the following payments were made:—Tls. 997,200 against 39,886 -shares. There were three Shareholders who did not pay the first call" before due date, but all of them paid later and the total payment of the first call was thus completed in accordance with the Article 129 of the Commercial Code before
Text read from the printed page and cleaned; old type leaves the occasional error.