Shanghai, Mar. 29.
FINAL dividend of $24 was declared, making a total of $34]
for the year, at the annual general meeting of shareholders of the Shanghai & Hongkew Wharf Ca,, Ltd., held yesterday morning at 27, The Bund when 21,180 shares were represented. Mr. W. J. Keswick, chairman of the company, presided, supported by Messrs. L. G. Davies, D. Morrison, H. Kadoorie and Pan Ching-poo, directors, In his speech, the chairman said:
[regret that! we are meeting this year under the shadow of another European war. In addition to this the unfortunate hostilities which commenced here in 1937 have not yet been discontinued. The value China's dollar has fallen in the last year from about 8d. to nearly 4d.
Under such adverse circumstances satisfactory that we can review a very good account of the Company's working for 1999, Nevertheless it is nol an exaggerated return on the real capital invested in the Company.
Part of our charges have, of nccessity, been placed on sterling, but our adown tariffs are sti! in local cur-Feney and although advances have 8 been made, charges are reasonable.
would particularly mention the fact that on rice we only charge storage 198 at a rate of six Shanchai dollar cents, per bag per month. We have endeavured to base our tariffs in such a way as to cause the minimum burden jon. local trading interests during, these very dificult conditions which we are facing in Shanghai to-day.
Text read from the printed page and cleaned; old type leaves the occasional error.