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“...Management Fund : Surplus for the year ... Less Deficit, 3 14 0 1/1/32 15 10 — 2 18 2 £25 0 8 Assets. £ s. d. £ s. d. Sundry Debtors : Canada Branch 6 11 3 Subs, in arrear 5 0 6 16 3 Cash at Bank— Old Girls’ Account (per contra) 1 18 3 Cash—At Bank ... 13 19 1 In Hand ... 2 7 1 —16 6 2 £25 0 8 (Signed) K. H. Price, Hon. Treasurer. H. F. Joyce, Hon. Secretary. AUDITORS’ CERTIFICATE. We have examined the above Balance Sheet of the Chefoo Schools Association, dated 31st December, 1932, and certify that it is correct and in accordance with the books. (Signed) D. E. Organe ; „ . Ronald S. Edwards \H°n- -Auditors. 7...”