My, E, T, Byrne presided at the ith, annual general meeting of the Consolidated Rubber Estates
Jast week "at the offices of (i914) held on Friday the secretaries and general anagirs, Messrs, A. R. Burkill Sons. The other directors present were Messrs, A, W. Burkill, G.MW. Jivmmel, J. R. Moodie and Hugo Teiss, and the attendance represent ed. 50,985. shares, 'The' notice convening the meet-the auditor's report, having been read:
"The Chairman said: Gentlemen—The report and accounts having Leen in your hands for some time 1 will, with your permission, follow the usual course and take them as reads 'The output for the year, as you will note from the report, was con~ siderably below last year's figure, this being due to the reassessment the Estates' Standard Produc-tiens in the early part of last year. Ju addition to the lower output chiamed, we were confronted with a Nery much lower average selling lice during the year so no useful Yurpose would be served by com-Taring the result of this year's Svorking with that of the previous year in which was included @ subential profit derived from the perchare of an export licence of Enother estate, The profit on the year's Working amounted to Tls. 1,002.27, making with the balance of Tis, 16,088.21 brought forward from last year a total of Tis. Weds and after deducting jaunt of Ths. 18,760 being interim dividend of 5 Tael cents per shar paid on December 20, 1924, there Demalns for distribution a sum of tio, 48,840.48 and T hope you will puts the appropriation recommend-by the Directors Generally speaking, all the estates ere in excellent order and there is very little for me to comment upon. Although the output was some 79,- (00 1b, lower, the all-in cost of production compares very favourably with Inst year's figure, the actual increase being only '.39d. rer Ib. I do not propose to up your time by giving you dotal of the working of the estates, have eat estates are being efficiently and economically aged. sum-sing the year's working of the estates, Major G. Nevill Steve cur visiting agent, reports that the estates themselves have not suffered any way under the stress of close economy and they continue to be in excellent order, and I would therefore like to take this oppor tunity of recording the Directors' appreciation of the good work done the Managers and estate staffs.
Prospects for the coming year at the moment look very promising and stazistieally the position of the industry ig very much better has been for a great number Stocks in London have ched a very low level and from accounts, it would appear that the demand' for rubber this year rmaet greatly exceed the supply.
'The Estates' Standard Produejons for the third restriction year been fixed at 517,600 1b. for fawn and 346,252 Ib. for Alexandra and Sungei Nebong. On 65 per cent. basis, which I con tider will be the approximate "average exportable allowance for current year, will give us a output for the two estates of 5€1.5¢3 Ib. Against this the com yarly has made the following forward sales:— tons monthly Jan./Dec. 1925 at 89 cents per Ib.
tons monthly Jan./Dec. 1925 603 cents per Ib. which gives us an average price of 634 cents per Ib.
That is all T have to say gentlemen; if any shareholder has any questions to ask, T shall be pleased to answer to the best of my ability.
There were no questions and the following Resolution were put to the sneering and carried unanimous-
Proposed: by: Mr" E. T. Byrne, secanted by Mr. Hugo Reiss: That the report and accounts for the year ended Deceniber 31, 1924 as, resented be accepted.
Proposed by Mr. E. T. Byrne, seconded by Mr. Moodie: That the ion of balance ut credit of Profit and Loss Account as presented be accepted:
Pay Final Dividend of Tls. 0.10 per share 37,500.00 Write off Buildings '528.60 Pay Bonus to Estate Star 2,500.00 Carry forward to next year's accounts Proposed by Mr. A. Hillaly, seconded by Mr. A. W. Burkill That Mr. J. R- Moodie be re-elected 1a director of the company.
Proposed by Mr. G. M. W. Hummel, seconded by Mr. A- Billa That Messrs. Lowe am Matthews be re-elected Auditors to the company.
This concluded the business of the meeting,
Text read from the printed page and cleaned; old type leaves the occasional error.