A profit of $282,031.84 for the past year's working of the China General Omnibus Ca, Lid. was reported at the firm's twelfth annual general meeting held at the office of Messrs. Arnhold & Ca, Lid, general man agers, in the Sassoon House, at 4 pam. on Thursday. Mr. H. E. Arnhold, chairman, was 5 by Mr. C. Arnhold, Mr. Chun Bing-him, "Mr. F. R. Davey, Mr. Ellis Hayim, directors, and Mr. V. Arnold-Jones, secre-ary. Shares represented were 145,040.
In his speech, the chairman stated that the firm is earning steady profit month by month. Regret was expressed at the poor currency condi-{ions in Shanghai and the continued depreciation in copper coinage which has seriously affected the company's income. Tt was pointed out that Jess than twenty different kinds of 20 cents pieces are in circulation here. In an effort to ameliorate overcrowd. ing, the company has increased the mileage run, introduced double deck. muses and also inaugurated two new routes. There are thirteen double deck buses on Route No, 1 run, and the number is expected to be me creased to 24.
Mr. Arnold continued:—The increase in mileage run was commenced in May, and, although this action has also' Increased your company's costs, it has no doubt met with the approval of its patrons, and will thus, H Is hoped, react to your advantage in the long run.
The double deck buses serve a three fold purpose. Firstly, they alleviate overcrowding and provide more comfortable accommodation. Secondly. they tend to relieve traffic congestion owing to the fact that they are cpable of carrying nearly double the number of passengers on practically the same road area occupied by single deck buses. Thirdly, they earn a higher yield per mile ne to their larger capacity, whilst the expenses of operation are not creased proportionally.
Text read from the printed page and cleaned; old type leaves the occasional error.