ACCOUNTS OFFICE.
REFRIGERATING PLANT AT LAI-CHI-KOK
The Chairman :- It is quite open to any shareholder to make any suggestion or motion that he likes."
Dr. Cantlie :-" I think if Dr. Noble moved that the directors reconsider the matter it would be sufficient."
Mr. Ray "I do not think that there is anything for the Board of Directors to reconsider. They have thrashed the matter out and I don't think their opinions are altered at all. We would certainly make the dividend 5% if we could, and I know that 3% will be gladly received by many shareholders. I, as one of the directors, may say, that so far as we are concerned, the matter has received every consideration at our hands."
Dr. Noble :-"After those remarks, in conjunction with what Mr. Sharp has said, I will be content to remain quiet."
Mr. Ray:
"The directors, I may add, have never received any remuneration since the Company was started."
This 3% dividend made a total paid during the five years of 8%.
At the eighth annual meeting on February 11th, 1895, Mr. Granville Sharp said "Well, gentlemen, we have during the past twelve months done our best. We have not achieved any very great success, but we do not think that is our fault. I think it is only right to draw your attention to the fact that we have worked for nothing. We have been doing that now for nine years past, and I think we ought not to pledge ourselves in any way for the future; but we really are entitled to something if we work and do our best. The report has been in your hands for some days, and if you will allow us, we will take it as being read. There is not much to remark upon it.
The report at the bottom shows a balance of $2,691.46 which it is desired to be carried over. It may be thought by some that it would be better to write it off, but the majority of the directors thought it was desirable to carry it forward, and therefore it goes forward. Whether
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it means that we have $2,691.46 beyond our capital of $100,000 might be a matter of opinion. In mine I do not consider that we have that surplus. I think it is right to draw your attention to the fact of the property because it is a particular a considerable--item in the accounts, and we take it at what it stands in our books. I said just now that we had not made a great success. I think, on the other hand, it might be said that we have made a great success in one respect. When I came here thirty-six years ago there was no milk to be had. We were as badly off then in Hong Kong as they appear to be at present in India, according to a very interesting extract which was produced last week from the Times of India in the Daily
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