Annual General meeting of the Shanghai Dock & Engineering Ca., Ltd., was held on March 15 at 4 p.m. Mr. W. S. Burns [presided; supported by Messrs. J. H. Keswick, L. J. Davies, D. Morison and Dr. A. Korff, directors and D. R, Glass, Secretary.
"The chairman in his speech sai 4 The outstanding feature of the past year has been the lamentable results of the undeclared war in our midst; Mr. Arnhold in his Dockyards speech effectively states what Shanghai Dockyards Ltd, has suffered both in earning power and property damage and in many other ways; fortunately the damage to our Old Dock and Cosmopolitan Dock properties has not been so very serious though our prospects of selling or renting them have been seriously delayed pending improvement in local conditions. pent oe kate ann och bate peat nes Br be vain matter' of any special compensation, should at present be left in abeyance, T feel "we should record our a cere oe bet Peete Coen aero eae ieteeerat ea cee sere ote sre, Se. Cocsiban spe ina hearty appreciation of the successful efforts of the management and. foreign stof of the dockyards early Inst, September getting workmen together and recommencing. activities under difficulties und dangers Impossible to over estimate—it_ was a great help to us and an incentive to other Companies and I may mention that the feeling in Great Britain on hearing of it was one of Congratulates Board (33. acres) with dee tata ce res (oe teas sateen ima eat one Turning, to our_Balace_ sheet vshanged sd ire ott "pie aes carte a oe eae eta has based Som Mr, Soyka—tI wish to congratulate the Board upon its refusal to accept the honorarium of $40,000 a5 was ted In a Resolution which was pre and Inter withd: awn "by Mr. A.
L, Anderson and seconded Mr. "W. Thomson, "who hold respectively 150 and 52. shares interest. There is no doubt that had you agreed to receive these sums similar action would have. been taken by interested parties for munerate the Directors of our sister Company. Your public-spirited ges: ture will go far to discourage a dangerous precedent, in sabot where from time to time large sums have been voted to directors whose services to their companies have by means always resulted to their advantage but often to their ruin.
conclusion Mr, Charman, 1 wish to record my appreciation. of the excellent work our Board has performed during the past several years and the very sound, condition of our company finances.—T thank eh ut, Dividend com ae Less amount, required Wee Bivldena at per is, we Themsin—aty same beng aca ote stu pst at og ce dal Stes crtagen Cent itor Settee et Bat ate Breetune" ind Yamal the Ss heat oan Bae Eugen vestments amount {0 S800 and this amount with sundry me come from interest and further sale of serap etc, should be suMeient for several' years' expenses,
Text read from the printed page and cleaned; old type leaves the occasional error.