Shanglai—The year's trading of our main store at G3 Nanking Road about the same as that of the previous year. Towards the end of last year, there was a perceptible falling Off of business, which was due to the Pacific Coast shipping strike. Through this not only did we lose a. large umber of transient customers, but great deal of cargo was held up fit San Francisco and Honolulu, and, therefore, did not reach us until well after the New Year. Fortunately, it was not what one would term essentially Christmas stock, and we since been dis-
The lease on our branch store at 1181 Bubbling Well Road expired on November 30 last. As our landlords Were unable to sce their way to reduce the rent, we decided to look for other premises. These we are lad to say were found at 876 Bubbling Well Road and we moved into them on, December 1: This move has fully justified itself in every way, as not only are the premises bert suited to our requirements, but busi ness has increased.
Unfortunately, the returns of our printing department showed a considerable decrease during the year. Taking the general trading conditions into "consideration, 1. think we should consider the result of the year's working satisfactory, as the Tour accounts as shown in the state-
Text read from the printed page and cleaned; old type leaves the occasional error.