The operations of the company's subsidiary, China Woodworking Dry Kiln Ca, Ltd. for the year end= ing December 31, 1938, resulted ina prompt of $14,712.71. This has been deducted from the loss of $146,691.10 brought forward from 1937, and the balance of $131,978.29 has been carried forward to nev account in the books of China Woodworking & Dry Kiln Ca, Lid Mr. C. H. Tong retires from the board, and is eligible for re-election. It ig proposed to increase the ditectors fees, commencing with the year
Text read from the printed page and cleaned; old type leaves the occasional error.