The report of the directors of the Gula-Kalumpong Rubber Estates, Ld., which was submitted to the annual meeting held in London on March 30 has now reached Shanghai. The special resolutions before the mooting and all carried were as follows:—
1. That the capital of the company be increased £750,000 the creation of 250,000 new shares of £1 each ranking as to dividends and in respect of capital Iti pass with—the 300,000 " existing shares of £1 each, 2, "That 25,000 of such new shares shall be offered to the holders of the 450,000 shares of the company which have been issued for subscription at par.
3. That thy remuneration of the directors for the year 1920 and subse. quent years be increased to £100 a year for the chairman, The port for the year ended December si, 1919, sets forth the "io Rubber.—The total output for the year amounted to 1,549,500 Ib, The laveraye gross price realized, including the estimated value of the unsold portion (83,187 Ib.), was 2s. 24d. par Ib, The cost of production was J1fd. per Ib. The net profit on 4,363 acres in bearing throughout the year was £21 10s. p'r acre, Coconuts.—5,015,600 nuts were gathered during the year, "33,745 nuts were sold $46.50 per 1,000, " and the remainder yielded 1,078 tons of copra. 325 tons were shipped to England, the remainder having been sold locally or in America. 'The cost of production f.0.b. Penang was £11 10s, 6d, per ton, and the net profit on 2,200 acres in bearing was 212 15s, 6d, per acre, Estimates, 1920.—The Manages' estimates for this year are as lows:—rubber 1,560,000 Ib, coconuts 6,000,000 nuts (1'325' tons copra).
Forward Sales of Rubber, 1920—300 tons (672,000 Ib.) have been sold under forward contracts at a price ¢quivalent to 2s. 33d. per Ib. gross, London terms.
Text read from the printed page and cleaned; old type leaves the occasional error.