The first ordinary meeting of shareholders in the above company was held the Chamber of Commerce Rooms yesterday afternoon, Mr. J. H. Teesdale presided snd there ware also present Messrs. C. Selby Moore, E. C. Pearce and A. Samson (directors), H. Trow-bridge, A. H. Best, W. McMurray and Thos. Cock.
In addressing the meeting the Chairman said they would as usual take the report and accounts as read. They would see from the report the exact number of trees and acreage. The total acreage was 684 acres and on September 30 all this bad been planted up with the exception of 220
711 acres. then work bad been progressing very satisfactorily, and report bad been received from the visiting agents, Messrs. Aylesbury giving fall details to and stating in conclusion say we are very pleased with the estate and consider it will produce good yields in fatare years, provided sufficient labour is secured and mell managed. The agents reported that fields Nos. 1, 2, 4 and 5 wore very satisfactory, while No. 3 wass little backward bat was being taken in band. Since the agents' report was received the 220 acres had been taken in band, and the agents esid that on this field, No. 6, fifty acres were berat off daring August and thirty acres cleared on contract. would be seen that work had been proceeding very fast on the whole of the property. It was a emall estate, and the directors considered it advisable to instruct the had been sent in and they hoped it would be granted. Other companies had been baying land around, and they thought it advisable to secure as much land as they coold adjoining their estate 89 a8 not to be shut in, The agents also reported that the health of the coolies was excellent and that new coolie lines were being put up. A report bad aleo beea received from the manager dated November 16, "Tu October all blocks were weeded. The naw block No. 6, was holed, (20 acres) and planted up (12 sores), the end of November I expect this block to be all holed and about three foortbs planted up if weather is favour-new coolie lines 10 Hospit Thave bought 100,000 seeds from the Cicely Estate due to arrive shortly, nurseries have been prepared for these which will prove quite valuable in ime."
The agents sise reported that there were no less than 100,000 stamps in the norseness, and (be maneger had been instructed to sell theca as the prices were at the present moment good. As to the fatare the agents estimated that 40 per cent of the trees in field No. 1 would be tspped on June 30 and 76 per coat by December, 1911. The trees on fields Nos. 2 and 3 were planted the year after those on No. 1, so that if conditions w re favourable they hoped to be tapping no less than 38,000 trees by the end of 1912. Of course they could not guarantee that that would be 80, bat they hoped it woold. A call of Tis, 2.50 bad been made on the 10,000 Tls. 5 shares and they hoped that Tls. 25,000 would carry them on for considerable Tu conclusion expenses were being cat down as low as possible. Shareholders bad no doubt seen the correspondence in the papers and read the rabber committee's report. He thought his ce-directors agreed with him in saying that this estate was being ron on as cheap a line as possible, From the report they could see what the directors were receiving and the Secretaries were
Text read from the printed page and cleaned; old type leaves the occasional error.