At the conclusion of the meeting of China Spinners, Lid, the annual Meeting of China Textile Manufacturing Company, Ltd. was held, "Mr. Gomersall said;—"The remarks Spinners Limited apply Textile Manufacturing Our main works at Tsao in the hands of the Japanese, been shut down the whole year. ever, we have a small temporary works at Yenping Road wh been operating for seven a result of which we have been to realize a profit of $59,003.71. directors have now decided to make his works more or less permanent, and a complete reorganization and extension is now being made which should be completed long before our next meeting.
You will not be surprised that your directors are not able to recommend the payment ofa dividend. Their recommendations as to the disposal of the sum of $59,003.71 are as follows:—
To write off all preliminary expense: $9,463.52 Day directors" fees l "280000 fo airy forward io mew account ^D 4004017
Total. $50,008.71
Limited proceed-and made a thorough dur our cotton in the re were rumours in
of the machinery in "been removed. HM.
I will now propose that the director's report and the accounts for 1938 be adopted. This is seconded by Mr. K. G. Stephenson, but before putting it to (he meeting I will try to answer any questions.
The resolution was placed before the meeting and carried unanimously. Messrs. E. S. Elliston and C. Y. Wong were re-el io the Board, and Messrs. Thómson & Company were re-elected Auditors.
Text read from the printed page and cleaned; old type leaves the occasional error.