The annual general the Shanghai Klebang Rubber wes, Li, was held on Thursday 10 Canton Road. Mr. CJ. Stewart presided, supported by Mr.
Cruddock and Mir, H. B. Rigge (Directors) and Mr. W. S, Royston A. Wattie Poy Edy the aeeretaries). There were represented 14,859 shares.
The Chairman said:
Gentlemen—The directors' report ud. statement of accounts having ten in your hands for the neces:
period 1 will, with your por-ration, take them' ax read.
The report giver you. so much detail about the past year's working thee it leaves very little for me [to say. The net profit for the year was Tls. 5,389, greater than it was for 1923 in spit of the fact that {the crop was smaller by 15,685 Ib. Jand the average selling price lower by slightly over 1d. per pound.
his. satisfactory result is mainly: avteable' to The lever" esta production which shows a reduction almost 2a. per pound on the cost for last year. Of this decrease tinea itd"yee gourd lo "dse ta savings on' the working of the estate, which reflect the greatest. credit' on the manager and the: Straits agents, and the balance is accounted for by lower fees accepted by your directors and secretaries.
In view of the foregoing it is almost needless for me to say that all expenditure on the estate has been rigidly controlled and that only the most essential work for the well-being of the property has been The Year's Profits:
Including the balance of Tls. 11, 1.59 brought forward from" 1033 the' total undivided profits amount to Tls. 21,581.37 which your direc: turs recommend be dealt. with as fellows:—To pay a dividend of 6 candareens per share Tle, 15,680.85; to write off development account Tis 1,068.11; to write of live stock {and carte Tin. 66.00, to carry for: ward to new account Tls. 5,046.61 ant I shall later on propose rosel us to this effect. I'may point out that the amount carried more than covered. by the surplus of liquid asset.
Text read from the printed page and cleaned; old type leaves the occasional error.