I feel that under the present abnormal conditions it would be unwise to predict the future prospects of the company. During the past year we, in common with other retail businesses, benefited by the vast number of people who had come to Shanghai, from both near and far, for the security it offered. I will content myself by saying that we do Our utmost to satisfy our customers and that, if present business conditions continue, the current financial year should, at any rate, compare favourably with the year recently completed.
In March of this year an opportunity presented itself of securing the services of a really first class, experienced gentlemen's and ladies foreign tailor and cutter and it was decided, in consequence, to re-open the "Fuhlee" tailoring section, which for so many years was a special feature of your company's business, and I am pleased to be able to form you that the results so far have fully justified this decision, I do not think that there is anything else I can tell you regarding your company, but I shall be pleased to answer to the best of my ability any questions that any share-holder may wish to ask.
Mr. K. E. Newman: Mr. Chairman, don't know whether you would care to tell us whether the Tientsin branch made a profit I don't ask what it is but is there a profit?
The Chairman: Yes. The Tientsin branch also made a profit Has anybody else any questions to ask? As there are evidently no more questions to be answered I will propose that the accounts as presented" be adopted. This is seconded by Mr. E. B. Moller. Carried unanimously.
The following resolutions were then put and carried unanimously:
Text read from the printed page and cleaned; old type leaves the occasional error.