Successful Year Described at Annual Meeting: Mr. Stitt's Coming Departure The annual meeting of St. Patrick's Society was held on Tuesday night at the Astor House Hotel under the chairmanship of Mr G. H. Stitt (President). There was a large attendance "of members. At the conclusion of business there were songs by Mr, F. E, Beatty and Dr.
O'Driscoll The 7th annual meeting of the Shanghai Loan & Investment Ca, Ld., was held on Tuesday otices of the general agents, 1 Th Bund. Mr, R. 8, PF, MeBain pr sided.
'The Chairman ssid:—The profit and loss account, including the balance of Tls. 19,438.92 brought forward from last' year, shows a. credit balance of Tis. '327,427.10 and I shall propose Inter on that this amount be dealt with as fol-
Proposing the adoption of the port and accounts, Mr, Stitt Feviewing the past year's activities, spoke of the regret they felt at the deaths during the year of Sir John Jordan, Dr. Stafford Cox, Mr, J. MeDowell, Capt. M. F. Dillon and Mr, Patrick Reilly. "They were also sorry to lore through his retirement, the former Crown Advocate, Mr. H..P, Wilkinson, Both he and his wife during their residence in Shanghai had rendered very great services to the society, and it was the wish of all Irishmen who knew them that Mr. and Mrs. Wilkinson would enjoy many happy and prosperous years in the homeland. They regretted too, not to have with them To. carry' forward 00] on that nicht Mr. D. P. Grifith and Total... Te.
Capt. P, Miller, two stalwart members who were' absent through ill-
In bringing before you this count which is I think a very, aatisfaetory one there is not much thut I can say beyond what appears in the report on the balance sheet.
Your directors are pleased to be able to recommend a considerably Jarger distribution than last year.
Taking advantage of the rise in the price of rubber and the acti of the share market locally since Jast May we have been able to make good many profitable sales and also investments and these account for our being able to show such a good result.
Since th: end of the year there has, as you know, been a considerable drop in the price of rubber and a consequent fall in the pri of the shares, many of the rubber companies' in Shanghai, This gether with the continued disturbed state of the country and an absence of trade generally, has. had an adverse effect on many. of our investments. In our report we gave figures of the market value "of our holdings at the date of closing of the accounts which now have '10 be revised. The investments pearing in the balance sheet a ort, namely, Tls. 1,682,936.70 are mow at the end of January worth approximately Tis, 1,671,677.00 as] against the figure of Ts. 1,870,000—which was the value at the date of the closing of the accounts.
my opinion thet this drop in Values may be attributed in part. to the forthcoming heavy March Settlement. I believe that our in-1 vestments are sound and that prices! will' probably recover later in the'
PTTKS fallowing resstitions were! ness.
Continuing, the Chairman sai that the accounts revealed that. they had had year. Finances thoroughly sound condition. Thirty-six new members joined during the yean, but losses by death and trans. fers resulted ina net increase of only seven.
The report and accounts having been duly carried, the Chairman proposed and Mr. L. P. Ridgway seconded, the election of Mr.
Byrne as President.
They all knew Mr, Byrne's record in Shanghai, said the "Chairman amid applause. He was also a good sportsman. As long ago as 3808 in Shanghai he had stroked an Irish Eight to victory. The night of the meeting happened to be Mr. Byrne's birthday.
Mr. J. J, Sheridan was clooted Vice-President.
Br. ET. Byrne, seconded by Mr. Craig Martin, in proposing a of thanks to Mr. Sut, the retiring President, paid a warm tribute to his work for the society. Mr. Stitt, said the speaker, was a great sportsman, a quality which every 'a Chairman of St.
'Not any would he be missed' but the place left vacant by his departure would be very hard to fill Both the retiring President and vice-President expressed the deep ud Mr. T. Murphy, ind treasurer, res. pectively. "With regard to Mr. Givens's work, I have been in close touch with it for a few years and I cannot tell you what you all owe him," said Mr, Ridgway.
The Rev. Bro, Faust was elected
Text read from the printed page and cleaned; old type leaves the occasional error.