dividend of six per cent. was declared of the nineteenth ordinary general meeting of Messrs. Gordon €o,, Lid, held in the offices of the firm, 443 Szechuen Road, at noon on Monday, April 29.
Mr. C. M. Bain, chairman, was supported by Mr. A. D. Bell, director Mr. F. B. Gunge, director and secre and other' shareholders repre-total of 2,601 shares.
'The chairman, in his address, pointed out that the auditors' certincate was in the usual form but that the accounts were in the form used in past years owing to the abolition of the tael, were now given in Chin. ese standard dollars.
The result of the year's trading, as reflected in the accounts, was accept able and in view of the: diMleulties of the past year, quite satisfactory.
Comparing the balance sheet with that of last year, sundry debtors slightly in excess this year, but a very substantial amount of these have already been collected and passed into the banking account, and while sundry creditors are oise very slightly. [higher than last year, the liquid posi tion was extremely satisfactory." Investments this year were more than Shanghai and Tsingtao have not been 50 extensive as in Tecent years, competition has been Keener and. the trading results reflect this position. They were confident they had their fair share of the work offering.
'The Tsingtao branch has not had great quantity of work offering bhut the directors fee! amply justified In_ maintaining' the branch.
The amount of business in hand is does 36 apartments, View of the very distressed state of the. real "estate market but the directors have complete confidence in the situation resolving itself event ually, and" meanwhile intend. to ursiie the same conservative policy of past years.
During the year one of - the directors, Mr. J. R. Moodie, resigned on his retirement from Shanghai and Mr, 'F. E. Gange was ce-opted in hie place.
There being no questions, the fi resolutions were passed 'That the report and accounts, a presented, be adopted: proposed by' Mr ESR Bain. and seconded by Me. A.D.
That, the balance of the Credit of raft & Loss Appropriation Ascount be lsposed of ay recommended proposed by'iMr_A. D. Bell and. seconded Mr, FB Gane:
"That Mr. A. D. Bell be re-elected ireetor, bropored by Mr.'G. Int. Bain, Snd"seconded by. Mr. FB. Gane "That the appointment of Stee FB. Gange as aivector, be confirmed: poted by ME. Bain: and seconded Bel That Messrs. Lowe, Bingham matthews reappoiicd an acltrs Mr. Ko" RPlowrlgh."and Seconded by
Text read from the printed page and cleaned; old type leaves the occasional error.