The proceedings at the annual meeting of the Alma Estates, Ld., at.the offices of Messrs. J. A. Wattie Ca,, secretaries and general man-acquired an un~ interest by reason of an explanation by Mr. E. T. Byrne, the chairman, regarding the re-assessment of estates and the new rule as to the percentage of standard production in British Colonies allowable]
Yor export, The Chairman was supported by Messrs. N. G. Maitland, A. J. Welch and Dr. R. S. Ivy (directors) and 11,600 stares were presented,' The notice convening the meeting having been read, the Chairman sai The report and accounts having} been in your hands for some days, I propose, with your permission, to follow the usual custom and to take The year's working, which 1 paratively little for me to say, except to enlarge upon one or two The profit for the year was Tls. 110,879.85, which I think may be considered very satisfactory when is remembered that it was earned en a crop of only 265,000 Ib, and average selling price of 2s. yer Ib, net At the end of September, there was an unsold stock of rubber amounting to 47,656 Ib,, but lib only about half of this stock was exportable during October, it considered advisable to ' place value upon it in the accounts now before you of only the bare cost of is to say, Tis. fs obvious that, realization, there will be a very large surplus to go towards swellinyr the profits for the current financial Export 100 Per Cent, The standard production for the saw restriction year, which started November 1, has' been sed 450,000 1b. and you may noticed an announcement in the papers a few days ago to the] fect that, from February 1, 1921 estates in' British Colonies will be allowed to export 100 per cent. of their standard production. This announcement I hava heard interjyeted in several places to mean that from February 1 estates will be permitted to export the full amount that they are capable producing and I would like to take this opportunity of emphasizing the fact that this is not thi On November 1, every estate was re-assessed and given a definite standard production for the: ensuing year. Some produce!
wre than the allowance iven to them, always provided that tapping! Jabour is available, others cannot, in any circumstances, produce their quota, but as the export rights are not transferable the prolific pro-lueer cannot purchase export rights from his less fortunate confrere nnd each estate is definitely tied uuwn not to export more than the exact amount of the standard pro-assigned to it, In the case!
this company, the exportable] allowance for the' current financial Year can now be definitely stated at! 422,640 Ib., or 187,640 Ib. more than the exportable allowance for year just behind us, and we are formed that this quantity can be! produced, Since the report was issued, your} directors have cold forward a further 18 tons of rubber, for delivery! in equal monthly lots from January to Sune, 1926, at $171 per Ib. exxedow, Singapore. The total forward sales that will affect the current year's working are therefore different from there stated in the report and amount to 203,840 Ib. at] an average price of $1142 pez Jb, or 53d. per Ib. higher than the average price realized for the year under review and leaves us with 218;900 Ib. to sell as and when considered desirable.
Text read from the printed page and cleaned; old type leaves the occasional error.