Unbounded interest is evinced in the statement of accounts submitted to and approved by the S. M. Co's shareholders at their regular' general meeting held in Tokyo on the morning of June 19. It is being commented upon that the S.M.R. and the C. E.R. are the only two China that have been satisfactorily in fe of the perennial warfare between Chinese militarists. Of course the C. E.R. has had certain difficulties to contend with but the Chinese have shown a good deal of restraint so far, perhaps for fear' of complications with the Soviet Government at an inopportune time, but the S.M.R, entirely me dependent of Chinese interference, has been able, year, in and year out, a handsome profit. The its for the current year are given as Yen 201,698,309, and the expenditure as Yen 166,788,029, re-_ presenting a net profit of "Yen
Text read from the printed page and cleaned; old type leaves the occasional error.