Shanghai, Feb. 22.
The Hongkong and Shanghai Banking Corporation's 118th report ofthe board "of divetors|to the ordinary yearly general meeting beldam to be held in the Board Room of Messrs, Jardine Matheson and Coy Ld, 1, Pedder, Street Hongkong, on' Saturday, February, oat Thoo amy W's flows:
'The director' have to. submit to you'd general statement of the affairs of the bank, and balance neet for the year ending December 31, 1088, 'The net profits for the your, tomethor' with' $3,439,083.99, balance: drought forward from last, account, after paying all charges, deducting interest paid and due, and. making provision for bad and doubtful counts and contingencies, amount to $18,645,058.12, 'The directors recommend writing' off Bank Premises Account the sum of $1,500,000, After making thi ting the Interim share, transfer, dedue-
'Temuneration to Directors, there remains for appropriation' $10,092,- 943.93, out of which the Directors: recommend the payment of a Final Dividend of £3 er Share, viz., 42180,000 which, at 1/58, the rate of the day, will absorb $6,690,215.83.
The Balance $3,462,728.10 to be carried to New Profit and Loss Account, The sterling equivalents of: the assets and liabilities are shown at 1/61, the rate ruling on the last day of the year, The Hon: Mr. C. G, $, Mackie hax bean elected chairman for the year 1934, and Mr. J, P. Warren has been elected deputy chairman, Mr, 7, E, Pearce, My, T. Ht.
Shaw and Mr. W, H, Bell retire in rotation, but being eligible for e-election, offer themselves accord ingly.
Me, J. A, Plummer, the Colony, has vesigmed his 'Mr. K, 8. Morrison has been elected to 'Ail' the vacancy. "This. requires confirmation, The accounts have been audited by Mr, John Flenting, c-A. and Mr. H.R, Forsyth, coa,, who offer them: ceives for re-election,
Text read from the printed page and cleaned; old type leaves the occasional error.