Decrease in Profits on Investments 'A drop of approximately $124,000] {in profits on investments was reported by the. chairman of the Shanghai! Loan and Investment Ca, Ltd, at the annual meeting of shareholders held last Wednesday morning at the office Jof the general agents, 1 The Bund. Tt was stated that this large decrease was due to the almost complete stagnaton of business in the Jocal share market during the period under} review. 'The directors present at the! meeting were Messrs. W. RB. 'MeBain, chairman, A. J. Welch' and 3. H. Liddell, in addition to Mr. W. 'A. Turnbull, secretary, and the number of shares represented was 27,000.
In his speech, the chairman sald:—
Gentleman:—Taking into consideration the unprecedented—depression which has prevailed in local commercial circles. during the past year, it can hardly be expected that a favourable result can be put forward by on Investment company +which naturally carries a heavy portfolio of stocks and shares in local companies.
Turning to the accounts, our year's working has resulted in a nett profi of $27,394.71, which together with the balance of $5,588.59 brought forward from last year, makes a balance of $52,083.24 at credit of Profit and Loss Acgount, which your Directors. recommended to be carried forward to next Account.
Text read from the printed page and cleaned; old type leaves the occasional error.