The annual general meeting of the Samagaga Rubber Ca., Ld. was held at No. 6 Peking Road on December 31, Mr. Leslie J. Cubitt presiding.
Addressing the meeting, the an said in part:—It is 10 years since the first annual general meeting of this company was held—years of varying prosperity and adversity in the rubber planting industry—during which some companies out of the many floated in 1910 have succumbed and some others have only survived in a reconstructed form. This company, as you know, had a bad start but managed to weather the storm and when I addressed you last year I was in a position to say that the accounts then presented, if they did not point to abundant prosperity at any rate showed a sound position and satisfactory progress.
The accounts which I am about to ask you-to adopt to-day justify the views expressed last year. The output is 297,000 lb. against the estimate of 280,000 lb.; all-in- cost is 11.62d. against 11.48d. in spite of a heavy loss on rice supplied to the coolies below cost. The average nett price realized for our product is $0.8 against $0.59 or, in sterling 1/10.88 against 1/4.67 Amounts written off to depreciation, development and loss in exchange total Tls. 15,000 against Ts. 10,952. Working account shows a profit of Tls. 40,310 against Ts. 27,851, and profit and loss account Tls. 25,549 against Ts. 19,346.
Text read from the printed page and cleaned; old type leaves the occasional error.