In proposing a vote of thanks to-Mr. Gonno, Mr, Morioka said: would like to be permitted to say few words to express my appre~ ciation of what Mr. Gonno done for our company during his tenure of six years as chairman of ithe board of directors. During this period, the cotton industry of Shanghai. has had to cope with many dificult problems rising one after "another." However, "he. hi fed to negotiate through these, dificult times. in a most able mane ner and has enlarged the capiclty Jof our company to almost double to what existed before he took lover the management by, erecting 4'and 5 factories. The ce pany has not only increased produ ion but har also made great i provements in its financial condi ion. The resources of the com: pany have accumulated year after Year and now stand on a los strong and formidable foundation financially. yenisei other mem bers of the board of directors. and start contributed to the chi ment of the company. to. some extent but, stich eontributicna, "owe a great deal to the leadership of it. Gonno and I firmly helieva in saying this Tam voicing the sentient of the "great majority are holders and people who come into contact with the business of the company:
The vote. was seconded by Mr. Kay and carried unanimously.
Text read from the printed page and cleaned; old type leaves the occasional error.