Cathay Land Ca, 'The annual general meeting of shareholders of the Cathay Land Ca, Ltd, was held on March 'd_room of Messrs, da, Sassoon Hou: the "attendance representing 307, 858 shares Mr, C. Hi, Avnhoid, the chairman presided, the other directors' sent being Messrs. F. R. Davey, Webb, G."L. Wilson, and' Hayim, "Mr." E) S, Barraclough, Manager, and Mr. A. R. Brayne, Acting Secretary, also. attended, The chairman ¢aid:—The accounts for the year termating December 31, 1030, have deen: in your hands for some time and Iwill, therefore, with your Kind permission take them as ret The same show a profit for "ti year of Tis, 855,87 vide of 4 per cent, was declared September and itis. now proposed to pay a final dividend of 4. per king a total of 8 per cent, year, and to carry foran ce of Tis, 61,906.16, "The consider thatin the early stages of development a. cons ive financial policy shoul Adopted and you will note ha aside Tls. 60,000 to general reserve, The company has continued. its policy of developing its undevelopfed properties, Twenty-eight new houses have, during the course. of the year, been erected on the Ver~ dun "Terrace Estate, all of "which were let before completion, and further eight houses are in course of erection' on that estate Which Will' be fully developed after pletion, and a further eight houses these houses, On the North Szechuen Road property 28 flats and 11 shops ha been erected and an. apartment house comprising 40 flats and eight shops, all of which have in © the meantime been fully occupied, and the revenue from these. developments will come into the new year's working.
Detailed plans are at the moment being got out for the erection of a L-storey apartment house, opposite the French Club, at the cor: her of Route Cardinal Mercier and Rue Bourgeat. These apartments will range from two to seven rooms. and wil be equipped with every modern conveniences It 1s felt that they will fil-a growing demand for such accommodation.
'The company has acquired 64 mow of the Ezta Estate, stretching from Avenue Joffre to'Rue Lata: yette, and it ig felt that this property will Tend itself to an' ideal form of development and will prove
ment.
beta very remunerative invent In'order to facilitate the policy of progressive development, "your
cheap money last September inectors seized the opportunity. make an issue of Tls. 3,000,000 6 Per cent, debentures, secured on specific properties, with a. margin of 06 per cent, according. to inde pendent valuation, The title deeds for these properties are held by the Yangteze Insurance Association trustees for the bond-holders and this issue was folly taken up. and hag proved to be' a popular Form "of Investment on the focal market.
There being no questions, the following resolutions were then put
animously: to, the meeting and" passed.
That the vevort and accounts for the year ended December 31, 1930, fas presented, be passed, Proposed by Mr. Ca Tt, " Ammhold; seconded by Me. FI R. Davey.
That the amount standing to the, credit of Profit and Loss Account the distributed og proposed. Proposed by atr. 'PR, Davey; see ended by Mr. B, Hasim, That the appointments of Mes-ere G1, Wilson and B, Hayim
Text read from the printed page and cleaned; old type leaves the occasional error.