As regards the buildings, the new coolie line that was built last year is in a good state of repair. On the main division the buildings are in reasonable condition and were given the upkeep that was found necessary.
Speaking generally all three properties have now emerged from the dirty conditions engendered by the slump and the cost of the Upkeep of the gardens is now no more than that entailed by regular monthly weeding rounds, The auditors' fee, you will have noticed, shows a difference this year which is attributable to the fact that the Auditors have requested that in future the audit be split into two sections and that, as is the practice where the Auditors in the Straits do not belong to the same firm as those in Shanghai, the work done in the Straits te paid for in Straits currency and that done in Shanghai be paid in local currency. Your board Consider this to be a reasonable request but of course it requires your approval
Text read from the printed page and cleaned; old type leaves the occasional error.