The chairman's speech follows:
The report and accounts have been your hands for some time and {willy following the usual custom, propose that they be taken as read. must frst of all. apologize to you for the delay in the production of the accounts: it Is due to the fact that we have reorganised the whole of Our accountancy system after some ixty years of "following my leader." We have now got our plant Yanglezepoo in full running order and the change over, T am glad to ay, caused no inconvenience to any but It caused some inconvenience to your Board and the staff because being responsible for a supply of gas there were many things to be thought and mechanism isnot yet fool {Gas Consumption: Over the ye 1094, private consumption showa defense. of some tree per cent, compared to 1089, and thir is enti IMRENGuabie to the, mote Conant flew works andthe tedvetton in the fully of the gts produced from the
percentage of inert gas which results Mrrahigher flame temperature. 1 tiuat users of goa. have reatlzed this Decause to my mind. it has been tantamount to a"discount™ in the priee'Toamplty. thi, may 1 60 Bloser Into. the. chemiicy side and Gas made at 'Thibet Road Eontoined 315 "por cent. nitrogen Producing a fame temperature of Boas" er whereas was made at Yang Uteepos' only contains 10 per cent nifoen ang. produces a fame temnperature of 2139", this being an {rerease in fame temperature 0°. equal to 45 per cent and thie therese naturally results Jer quantity of gas being used. The Genital Mot of China commenced sing kas in February and. our to Consumption was 808418475. cubic fect being' an increase of 0.7 per ent, over, the previous year. The guantiy. of gas" used. for. publi lighting, amic thi. o¢ the City London: continues to decrease In fordance with our Siith the Shanghat Sunil wit' uns. being. 3734 per_ cent {non previously. Having just men-toned ihe Shanghai Muniipal Coun ent thie itconly" right" to refer fieke'to the fact that, we have con Eluded a Franchise Agreement with hat body for forly years, The agree: spent has been published in the Mule pal Gazette and there sno need forme to refer. to it in. detail "eonstder, fair and buslest like) and. it only. romaine sine {0 put. on" record my appreciation of the courtesy vot the oun with whom Twas brought confact during' the negotiations.
Text read from the printed page and cleaned; old type leaves the occasional error.