The 3ist ordinary general meeting of the Shanghai Cotton Manufacturing Ca, Ltd, was held yesterday at the head-offices of the company at 185 Szechuen Road. Mr, K. Kuroda, chairman, presided, supported by Messrs. Y. Noda, K. Notomi and Y. Maeda, directors, whilst shares present and represented totalled 158,742.
The chairman in his speech said The result of the term under review may be said to be satisfactory, especially in view of the fact that your Tsingtao mills have been ili course of rehabilitation, and have contributed no profit during this term. However, I must say that no matter what the result might have been, it has in fact been an unprecedentedly fortunate one seeing that it arose in such an abnormal period: that is to say, in times and places where hostilities still exist we cannot be unduly optimistic about the continuation. of prosperity; the reduction of buying power among the inhabitants of vast war-scarred areas would lead us to expect the contrary.
Text read from the printed page and cleaned; old type leaves the occasional error.