The nineteenth ordinary general meeting of shareholders of the Shanghai Cotton Manufacturing Ca, Lid. was held at the Head Office of the Company, No. 49 Szejehuen Road, Shanghai, on May 30.
'There, were present:—Messrs, K. Gonno (Chairman), K. Kuroda, Y. Maeda, T. Enjoji' and Y. Noda (Directors), E. S. Wilkinson and K. Yamasaki '(Auditors), 'T. Kago: yama (Secretary) anda number of shareholders representing 72,278 [shares including proxies.
The chairman said:—When I addressed you at the last meeting here, I informed you that the AntiJapanese Bayedtt movement was then being intensified day by day, so that even incidents of Physical violence were occurring, Jand that if such. incidents were not checked, all Japanese cotton mills in-Shanghai would have to be closed down, "Unfortunately, my predict tion was ultimately realised at the fend of January and in consequence Our mills were not able to carry on their operations for half of this financial term, But the SinoJupanese Peace Conference arrived at an amicable settlement a few weeks ago and we can now hope for a speedy recovery [of economic conditions.
'You may rest assured that the working condition of the mills has been gradually improved since their re-opening. It is, however, hardly Possible to expect normal trade conditions at present, owing to the heavy damage done' by the floods on the Yangtze River and the vigorous activities of the communists Following our usual practice, we are making every possible effort to increase efficiency and minimise our working expenses; at the same time, we are doing our best to improve upon our old machinery so as to tain the highest possible results for our shareholders.
The following resolu! were then passed That the report, balance sheet, general inventory of assets, and profit [ind lous so count for the 19th An term ended the April 80, 1932, be toned a "That the directors! suggested appro. priation of the. balance at. ered Droft and loss account, be suctioned passed.
Shai & Honzkew Wharf Ca, A. second, extraordinary general meeting of shareholders of the Shanghai & Hongkew Wharf Ca. Ltd. was held on June 2 at the offices of the general agents, Jardine, Matheson & Ca., Ltd. the re solution passed at the first' meet Fegarding the increase of the thorised capital from Tls. 4,000,000 to Tls. 8,000,000, by the creation of 40,000 additional shares. of which ied forthwith, being confirmed unanimously. Mr. B.D. F. Beith was in the chair, and the total number of shares re: Presented was 12,930, In terms of the resolution 10,000 new shares in the Company will be issued and (in the first instance) be offered at a premium of Tls. 50.00 aking in all' Tls. 150.00 per shares the proportion of one new phase, for, every four old shares them respectively but 0 that no fractional part of a share shall be issued) to the persons who, on June 30, 1982, are registered in Gris cas olssea fo mich each, Shareholder ape eh cin cee of members will be. closed "from, June 24 to 30, 1932, both days in-elusive, and subsequently, a letter cig an hare are entitled and which will {o\be followed, as may be neveseary, con ale, orntin ie, each new share will be entitled loch ay earl dated
Text read from the printed page and cleaned; old type leaves the occasional error.