But Not Without Hopes for the Future: Expected That Building ww Will Slow Down Mr. N, L. sparke, Chairman of Com mittee, presided ai the annual meet ing of members of the Shangha! Proerty Owners Association, held Monday, Mar. 25, inthe Royal Asiatic Society's" build-Ing, supported by Mr. A.M. Preston (Vice-Chairman), Mr. A. W. Buck (Secretary), and the following members of the Committee:—Messrs E, 8. Barraclough, A. W. Burkill, E. Cumine, J. B, Etherington, N. E.'Kent, Ranala McDonald, S. C. Miskin, C. D. Pearson, H, Sandor, F. R. Smith, and G,_L. Wilson "The Chairman said:
At te close of the year, you will notice there was a credit balance with the Hongkong & Shanghai Bank of $6,295.60, as compared with a balance $8,67628 for the previous year. This drop is entirely due to the fact that subscriptions for 1984 were reduced from Tis.,50 and Tis, 10 to $50 and $10 for voting and ordinary mem-_ bership, respectively. This reduction im subscriptions has naturally had an adverse effect on our income, reducing it by some $1,500, although' expenses during the year under review were repr as Tow as possible wre down $1,850 a3 compared with 'The accounts show that our expenditure is greater than our income by $980.76, therefore further veduetions in our' expenses are essen-Wal and will be made during the year 1038,
Text read from the printed page and cleaned; old type leaves the occasional error.