The annual meeting of the Welhaiwei Land & Building Ca., Ld., was held on Tharsday in the, Hongkong Bank Building, No. 12 The Bund. Mr. R. E, S, Gregson presided, supported Messrs, E. E. Clark and W.
Smith (directors), and there were present shareholders representing 2,490 shares.
'The notice convening the meeting and the auditors' report having been read, the Chairman said:—The report and accounts have been in your hands for some days and with your permission T will take them as read, The working account shows Tis, 129.00 less profit than Fast year, due to increased repairs Tis, 223.78, less increased rentals Tls. 111,59 and other small deferenees. Profit and loss account, after providing for depreciation of 10 per cent, on furniture and 24 per cent, fon the cost price of all buildings, and transfer of Tis, 630 to renewals and improvements account, shows a bale ance at credit of Tls. 6492.66, out of which it ix proposed to pay a dividend of 6 per cent, or Tls. 1.20 per share, absorbing Tls. 4,408.80, and to carry forward the balance of Tis, 2,088.70, Leases for the com-summer have already been signced for nine bungalows, and the other two will be signed soon, Regarding. the future, there is still no definite news about Rendition, T have nothing further to say, but it any shareholder hax any questions to ask T shall be pleased to answer them to the best of my ability."
There being no questions the fol lowing resolutions were proposed "That the report and accounts as wented be passed, and that 1 Kividend of 6 per cert. or Ths. 1,20 "Proposed by. won, seconded by E, Clark be ree elected a director of the company. Proposed by Mr. A. L. Anderson, seconded by Mr. H. J. Clark.
"That Lowe, Bingham Matthews be re-elected auditors to the company."—Proposed by Mr. Hi. 4. Clark seconded by Mr. A. Ue Anderson, This concluded the business of the
Text read from the printed page and cleaned; old type leaves the occasional error.