Quoting a statistical report sent by a cotton merchants' organization the "Sin Wan Pao" states that as a result of the Sino-Japanese hostilities, Chinese cotton mills have suffered the staggering loss of more than $100,000,000. Altogether 52 Chinese cotton mills were either destroyed or 3%] taken over by the Japanese, it is stated.
Ten Chinese cotton mills were completely destroyed during the hostilities, while twelve others suffered heavy damages. Twenty one mills suffered smaller damages, Five Chinese cotton mills which were not damaged have been taken over by the Japanese aggregating more than 1000 machines. The condition of four other mills is not known, Eight Chinese cotton mills have been transferred to foreign ownership, totalling 17,800 looms. The aforesaid loss in figures does not include those mills which have been taken over by foreigners, 25 U.S. Steel Mill Operations Drop New York, Dec, 4.
The American Iron and Steel Institute, in its weekly report, places steel ub avy Aue TAA cane mencing December 4 at 92.8 per cent. of capacity, This represents a decline of 18]! from the previous week but a gain of 32.9 per cent. over the corresponding 354 period of last year.—Reuter, Shanghai Dockyards inal Dividend At a meeting of the directors of Shanghai Dockyards, Ltd., held yesterday, it was decided to recommend the following appropriation of the balance of Profit & Loss Account amounting to $2498419,70, inclusive of balance from last Account:—
Profit for the year ended September 30 n 8242441248. Balance carried rd ($573,947.22 less $500.000.00 interim dividend paid) 73,947 22
$2,498,419.70
To pay a final Dividend of... $2,000,000.00 To transfer to General Re-300,000.00
Text read from the printed page and cleaned; old type leaves the occasional error.