Debenture Holders Agree to Reconstruction Scheme A meeting of the debenture holders in the Tebong Rubber Tapioca Estate, Ld., was held on May 27 at the offices of the secretaries, No. 24a Kiangse Road.
Mr. A. J. Welch presided, supported by Messrs. R. G. Macdonald and H. M. Little, trustees for the debenture holders, and Mr. C. J. L. Stewart, Secretary. The attendance represented Tls. 0,600 worth of debentures.
In his speech the Chairman explained that the meeting had been called as a preliminary to proposing a scheme of reconstruction to the shareholders. He alluded to the acute depression in the rubber industry, and pointed out that in common with others the Tebong Ca. was specially handicapped in raising money, as although it was a very fine and valuable estate, all the title deeds were deposited with the trustees as security against the debenture issue and consequently the directors had nothing to pledge in exchange for an advance.
Text read from the printed page and cleaned; old type leaves the occasional error.