Coming to the balance sheet, there a slight reduction of £6,000 in the book value of steamships, hulks, ete. compared with 1936, the write off being greater by that amount than the additions to the fleet which clude the instalments financed by the banke during the year on the three new ships. "Sundry debtors in China find London agents' balances. coal and stores all show slight. increases due to the greater turnover and the higher cost of coal, etc., but all the amounts owing to the Company been accounted for.
With regard to the liabilities, gen eral reserve has been Increased by £120,000 by the transfer from revenue account. There 1s a small reduction in underwriting account duc to sun: dry accidents not covered by insurance, while special repairs and re-jewels Temain practically unchanged. Sundry creditors. in China and London now appear at £105.867.2.1d.
compared with £216852.1454, in 1896, the overdraft due to the Genral' Managers of £120.626.15.5d. having been paid off, The item of £86.646.168d. shows a slight decrease has since been paid while the of £19.2205.84. appea name of the Honzkong and Shanghai Banking Corporation balance of the loan account oulstanding at the close of the year.
The contingent liability for cumvlative preferred dividends for 12 years amounts to £178,520.8.0d.
Text read from the printed page and cleaned; old type leaves the occasional error.