That concludes the business of! this meeting and we will now proceed with the second extraordinary meeting that has been convened to sanction an increase in the capital of, the company, The resolutions being carried, the chairman continu jentlemen.—As a corollary to the resolution that you have just passed, this meeting has been called to subject to the prior apof His Britannic Majesty 'Supreme Court for China to the reduction of capital having been tained, the increase of the authorise ed capital of the company' by Ts. $0,000 in 900,000 shares of 18 can-If this increase of capital is approved of, it is proposed to off these 900,000 shares of 10 cand eons each to existing shareholders in the ratio of two new shares for each old share at present held.
shareholders will be disposed of by Any shares not "applied for, by the directors on such terms. and conditions as they may think fit.
not think that it is necessary for me to say anything more the subject since the proposed crease in the ea) id pany forms part and parcel of the Feconstruction scheme and, if you it] donot pass. this elution, the 1& whole proposition wi fall to. the ground and the company will have go into liquidation.
I'will, therefore, read the resolu ion to' you and then ask you. vote thereon. i "That as soon as may be after the confirmation by His Britannic Majesty's Supreme Court for China of the reduction of the company's capital as authorised by special resolution the capital of the Company shall be increased to Shanghai 135,000 by the issue of 900,000 shares each of 10 Shanghai can-darkens, each ranking for dividend id in all other respects pari pass with the existing ordinary. shares of the company, and that the said 900,000 shares company in proportion. may. be hares held by. them respectivel with the proviso' that the fa Amount of tach share so taken up shall be. paid to the company on acceptance of the offer and. that Such offer shall be made by notice the. registered shareholder tecitving the number of shares to the member is entitled told subscribe and specifying the. time which the offer if net accepted will be: deemed tobe declined "and that the directors be and are hereby empowered to offer any remain-shares for subscription as they consider expedient in the interests of the Company."
Text read from the printed page and cleaned; old type leaves the occasional error.