Shanghai, Jan. 27.
In accordance with the provisions of its regulations and rules, the Wei Wah' Credit Reserve Supervisory committee is charged with the duty of making regular monthly examina ion of the records and relevant documents showing the amount of the credit extended in wel wah by the Joint Reserve Board of the Shanghai Bankers Association to its member-banks and the elassifteation and value of the assets deposited as collateral security. In a meeting duly assem Died on January 20, the committee carried out the eighteenth monthly examination as mentioned above; and, after having examined all the Tecords and relevant documents and certifeates In a manner and to the extent which we considered appropriate, we beg hereby to report on the position of the credit extended for the month ended December 31, 1940 as follows:
Appraised, Value Assets deposited as security "29.9300 Blocks & Debentures 5 Rent Estale 3B. Wel wah credit approved for ave 1. Amount Tesued 19, 323,200.00 Amount fssusble—3baaton '270800000
It As stipulated in Article 9 of the regulations. governing. the extension of Wel Wah Credit that "the amount Of the credit to be extended in wel wah by the Board to its member-Baks shall not exceed 70 per cent, of the appraised value of the assets deposited as security." Based on such examination as we conducted, we are alisfied that the proportion between the amount of the wel wah credit approved for extension to any indivi dual bank and the appraised value of the assets accepted from such Individual bank as collateral security a3 on {the above date does not exceed the ratio permitted by these Regulations, and that the value of the assets Sppraised 1s, substantially correct at this date. The Wel Wan Credit Reserve Supervisory Committee.
At the close of the meeting the election of a new chairmen of the Weill Wah Committee took place, Mr, Z.C. Zing, for many years chaltman the Native Bankers Association was lected unanimously, Central Properties to Declare Dividend Shanghai, Jan, 26, Ata meeting of the directors of! Central Properties, Lid., held yester-@ay to consider the audited accounts for the year ended December 31.
was reported that the balance available from last year was $452, 423,12, which, with the nett profit for 1940 of $797,586.03, and after deducting the special interim dividend of $260,- 00, leaves a total available for allocation of $890,021.15. was decided to recommend to shareholders at the eighth ordinary general meeting to be held on February 28, that this amount be appropriated as under:—
To pay a final dividend of 18 ber cent. for the year 1040, fon. the issued capital of $10,000 vnsecervenvsses $27000000 carry: forward 0000000000000 "edoaatas
Text read from the printed page and cleaned; old type leaves the occasional error.