The annual general meeting of the Ziangbe Rubber Estates, Ld., was held on Thursday in the offices Messrs. J. A, Wattle & Ca, Ld. Mr, A. J. Welch, presiding," sui ported by Messrs. W. R. MeBain and C. J L, Stewart. There were 58,533 Shares represented.
The chairman said:—Gentlemen,—The Report and Accounts having been in your hands for the prescribed period 1 will, with your pert usual procedure and read.
On Kaliminggir Estate the replanting of inferior and backward ress was continued and year an area of 15 acres was" cut out and re-planted with budgraftings and selected seedlings. The Estate has now been entirely planted with green covers, and the dig-'Ging of the mimosa has made a Vast improvement to the fertility of the soil, This is reflected by the micro healthy appearance of the trees and the much improved bark renewal.
During the year the factory machinery was thoroughly overhauled! and considerable economy has been! effected in the running costs of the engines. The main road to the Manager's house and factory has now been completed, and a very considerable saving will be effected transport costs.
Bandoardjo Estate continues -as one of the cheapest producers and actually shows a slight reduction in the F. 0, B. cost notwithstanding the expenditure on digging in mimosa and the planting up of the whole area under green covers.
Disease has caused no undue ise is less apparent here any other estates in the ret, and star ployed in spraying the trees, with the object more of prevention than cure.
During the year Mr. Clu Pon, who has been Manager on Kaliminggir for the past ten years, left to take up a similar position "in a more healthy a climate, and Mr. F.C. Elliott, who has had considerable planting experience, was, appointed Manager.
Visitinge Agent, is more ther, pi with his work. "The output for the year wi 41,086,000 Ibs, against an estimate of £900,000 Ibs.
Tu my speech Inst year, T end-favoured to explain the' correct method of reading the two sets of accounts, The net profit of the two Companies for the year is Tls. 338,500.14, which, when added the' balances brought forward from 1925, makes a total divisible baltance' of Tis, 360,242.28. Of this amount Tls. 187,500 has been distributed as Interim dividends, and your Directors now recommend a final dividend, which will absorb Tls. 112,600.00, so that 83 per cent. of the available balance will have been distributed as dividends.
If you pass the appropriation of the balance of Profit & Loss Account that is now recommended, the Company will enter the new' year with 4 surplus of Liquid Assets amounting to Tls. 196,900 which should Ye more than sufficient to see us through any emergency that may arise.
In conclusion, Gentlem: the visiting agent and to the agent in Java, to whose efforts and careful supervision the present very satis factory condition of the properties is, duo.
That concludes my remarks, gentlemen, but before formally proposing the adoption of the Report and Accounts, I shall be pleased to answer any questions you may wish to ask, The following resolutions were then passed:
(1) That the Directors' Report and Statement of Accounts:
for the year ended December:
B1, 1926, as presented, be adopted " and passed:—proposed by Mr, A. J. Welch and seconded by' Mr. W. R. Me-Bain.
(2) That'a Final Dividend of 45]
Candarcens per share, be paid, making a total of Tact 1.20'per share for the year:—proposed by Mr. A. J. Welch and seconded by Mr. Charles} Stewart.
(8) That the Directors be author-"ised to donate the sum of ply of comforts for the Foreign 'Troops now in Shang hai:—proposed by Mr. A. Welch and seconded by' Mr.|ti W. R. McBain.
(A) That B.C, J. L. Stewart be re-elected a Director of the Compans:—proposed by Mr.
Kadoorie and seconded by Mr. 0. U. Zen.
Text read from the printed page and cleaned; old type leaves the occasional error.