During the period August to November our properties on both sides of the river were constantly under fire and it is indeed fortunate that only two fires were started, both of which were controlled before they had reached serious proportions. The estimated total cost of reinstating properties is $160,000, Most of the necessary repair work has already deen completed.
"While hostilities were proceeding in the vicinity of Shanghai all possible steps were taken to safeguard the interests of the company and to carry on facilities for the delivery of cargo, Actually we were prepared at all times to berth steamers, but Ocean going ships avoided the port for several months and it was not until October 28 that the s, Steel Traveller came up river and berthed at Pootung. We are grateful to the Isthmian Steamship Company and their local representative, Mr. W. H.
t, for leading the way I would like at this point to say a few words in appreciation of the loyal services rendered by the foreign cargoes are deplorably light, Our godowns are reasonably well filled. If and when the import trade of China becomes anything like normal, we are in a paramount position as regards berthing and storage aes commodation and a return to better times will find us fully. prepared.
Turning to the accounts. The balance of working account brought in to profi and loss is $574000, an increase of $150,000. This reflects the excellent earnings of the first seven months of the year which more than offset the drop after the outbreak of hostilities.
In 1935 we set up a reserve of $56,000 for a doubtful debt, This Sum has been fully paid up together with interest and has therefore been written back,
Text read from the printed page and cleaned; old type leaves the occasional error.