The anous! general mectiog of the shareholders of the above estates wi held on the 3rd instant at the offices of the Secretaries and General Managers, 13, Nanking Roxd.
Mr. G. Grayrigge, who presided, said:—Gentlemen:—The scoounts have been in your bands for some time and with your permission will be taken as Before asking you to pass them, capital is Tle, 100 short of the fol! emonpt of four Iskbs. This small shortage represents a certain allotment not taken op. Sundry creditor 1,083.69, 'This figure is made up by potty cash dishorsements, auditors' and directors' fees, Estate Tis, 8,164.88, Tie. 240.91, small items that are in dispute. Exchange adjustment account, Tis.
The accounts are run for convenience sake on the basis of Siogapore dollars being taken at the same value as tael exchange necessitating Which il alwa: hypothetical profit on remittances to the estate equals Ye. 1,148.71 less payments to contractors, cash at Siogapore and at estate converted at 98} 'T-T rate Jane 30 Tle, 40,07, Total Tls. 1, property taken into account at the purchase price of Tls. 300,000. Baildii and fornitare figure less depreciation at Tls. 3,000. Under the advice of our snditors, the Board decided to write off Tls. 908.54, reducing this beset to a round figare. The amount of Tle, 908,54, so written off, is debited to the development account, Development account to June 30 this year, you will see that the sum of Tle. 61,062.39 less revenue of Tis, 2,793.28 bes been spent on the property. The chief items are:—General charges Tls. 17,616.49, upkeep of boildings Tls. 777.17, upkeep of caltivated area T! a Head Office expenses, namely, Tis, 3,999.86 ie an item that might be correctly debited to development account, bat after due consideration, the Board decided to carry it forward s an item to be written off gradually out of profits when the estate gets on a paying bessie, Sundry debtors—Tle. 1,702.79 is made ap of one doubttd account, viz., Tls. 1,074.81 due to the company by the Into' Becre-
Text read from the printed page and cleaned; old type leaves the occasional error.