from 'Tide per lee to 2d." pev ment in the average selling' prise rare having been wu, improve:
found, it was' obvious that) the omer naa Been formed said by Mr, Warner Brown, The chairman spoke ae follown: e, 2298 which shows an in-lAprecient. and." Shipping" Conse and a dividend on Ext
Hherewith a report of the accom The board of directors submit] ight be pointed out that this] and Ifa, per "share Meet ere tat unia[Cl™ Accotnt of 9/- per A" share fand operations of the Bal existe in spite of the fact] on "Ay nat pany, Federal Inc., U. the company didn't shares covered by Shanghai Cortiyear ending 1933: BES cee cee Sie The Hit] cates wilh be paid by The company made a net profit U: S.
Navy for meat during the lat-warrants payable' in Chinese for the year 1983 of Sh, $15,106.52) Part of the year. The company|dard Dollars. at the Hongkong. Was unable to compete for these Shanghai "Corporation Navy meat contracts as the Secre- (Shanghai's) buying rate for tary of the Navy requires that bids demand drafts on London, bbe received and samples. furnished On its property on Sinza Road|at Seattle which prohibits us from Cathay Land Ca, the company completed the construc-[Participating in the bidding. How-At a meeting of directors held ion of a factory building. a ever, with the increase over the 6), the accounts Mtallation of equipment therein i Past year in our local business these for the year 1033 were considered. the fall of 199%. For the purpose Navy contracts represent a emall The balance at credit of profit and prop rly supervising this construc tion and installation the company] Jemployed a qualified engineer. mediately upon completion of the Jeonstruction the company brought four from England an expert in the Jamount of our total business.
We have retained the U.S. Navy contracts for baker goods and pro-[duets other than meat,
Text read from the printed page and cleaned; old type leaves the occasional error.