Shanghai, Apr. 28. GPATING in his speech that despite the unhappy state of affairs which existed throughout 1938, the profits for the year had been the highest in the company's history, Mr. J, W. Keswick presided as chairman at the eighteenth ordinary meeting of shure-holders of the Ewo Cotton Mills, Ltd. held at th offices of the general managers, 27 The Bund, at 11 a.m, yesterday.
The chair= man was supported by Mr. H. Martin L tle, Mr. Zee Quan Yuen and Mr. Pan Chi 1g-poo, members of the consulting committee, A total of 186, 24 shares was represented. The chairman said in his speech Despite the unhappy state of affairs which existed throughout 1938, our profits are the highest in the com~ any's history, and they might well have been larger but for the restrictions, imposed north of Soochow Creek. Ti was not until the second half of February, 1928, that it was possible to resume operations—and then only in a very small way—at our two largest mills.
In the Report before you the credit balance on' profit, and' loss account amounts to $5,40940484, and your consulting committee recommends a final dividend of $275 on the ordin" ary shares, making $3.50 for the year, while the usual 8 per cent. dividend on the preference shares is in accordance with the Issued terms.
Text read from the printed page and cleaned; old type leaves the occasional error.