I am pleased to report that the furniture section should be a success more than 150 suites have been dis- A: posed of since November, 1936—in addition to many pieces of furniture for home and office use, At the foot of the balance sheet you will find a note that loss and expendi~ ture on preliminary working, -approximately $6,500, has been carried forward in the factory accounts and that factory creditors amounting to $3971.78 has not been shown in the Balance sheet. As the factory had only been trading for 14 weeks (before the end of the financial. year), this period will be included in next year's balance sheet, 1 can report that. the "company's. fats are all let, and that, in fact, we have a waiting list at the present tim Tientsin, like Shanghai, has passed through a dimeult year, but the branch has also made small profit and shareholders may be quite satis-fed that the interests of the company are being ably looked after by Mr. Fergan and his sta,
Text read from the printed page and cleaned; old type leaves the occasional error.