Shanghai, June, 13.
\HE thirteenth annual general meeting of the Shanghai Waterworks Fittings Ca,, Ltd, was held at the registered office, 484 Kiangse Road, Shanghai, yesterday, Mr. H. M. Little, chairman, presided, supported by Messrs R. G. MacDonald, W. Mellor, A. M. Cobbett, directors and shareholders representing 3860 shares.
The chairman in his speech said:—The net profit for the year '$73,600 os compared with $78,102 for the previous year. As disclosed in the profit and loss account this figure of net profit has been arrived at after Wweting off the investment in the subsidiary, company an amount of $48,083. I shall refer later in detail to the position as regards the subsidiary company. To the net profit there is to be added $19,475 carried forward from the previous year thus making the amount available for distribution $93,075. The recommendstions of your directors for the dis. posal of this amount are set out in their report which is now before you,
Text read from the printed page and cleaned; old type leaves the occasional error.