The following resolutions were then passed:
That the directors' report and audiiors' statement of accounts as presented for the year ended December 31, 1937, be and they are hereby received, approved and adopted:—proposed by Mr F. R. Smith and seconded by Sir R. Calder-Marshall.
That the following recommendations as to the appropriation of the balance at credit of profit and loss account as presented be accepted:—3 Write off furniture and fixtures Jen $ 8,085.29 Carry forward (subject io Payment of general managers' Commission) $74,719.08
$82,804.35
Proposed by Mr. F. R. Smith and seconded by Mr. C. V. Start.
That the appointment of Mr. E. Sigaut be confirmed and that Mr. Singioh Hsu and Mr. H. E. Arnhold be and they are hereby "re-elected directors of the reposed by Mr. S. Lord and Seconded by Mr. A. M. J. Wolynsky hat Messrs. Lowe, Bingham & Mat-be and they are hereby re-elected auditors of the company at the same iemuncration as last year—proposed by Mr. H. E. Arnhold and seconded by Mr. E. Sigaut.
Text read from the printed page and cleaned; old type leaves the occasional error.