Mr. A, W. Burkill, as one of those people whom Mr, Gubbay considered be too highly paid, observed that if the remarks were made in a friendly spirit he really wondered what they would have been like if Jmade in a hostile spirit, Mr, Gubbay's only criticism referred to the Lack of dividends, but he overlooked the fact that during the past few years the assets of the company lad been materially increased. Out lof their profits they had planted up the rubber estate, which was a very, fine asset, as well as a paying one. If dividends had been paid, shareholders would have hud to put their hands in their pockets to find funds not only for development of the rubber estate hut to finance the tobuc: o estate. The question of remuneration was left to the speak-and Mr. Prentice to settle, and they considered that the minimum and maximum were extremely rei sonable for the amount of work which had to be done, Apart from the duties connected with a rubber estate, the general managers had Jo very difficult proposition. in a [tehueco estate, and only those with personal knowledge were able to realize the work which had to be done in connexion with oil. Further, they hud the benefit of one of the members of the staff who went the south, and from his connexion vith very many plantation companies, the could assure xhurcholders knew of none where one could et more information or where things were better run, In this opinion, the resolution wax quite justified.
There were no other remarks, and the resolation was carried, the meeting then terminating.
Text read from the printed page and cleaned; old type leaves the occasional error.