The fifth annual meeting of the Now Amherst Rubber Estate, Ld., was held on Tuesday at the offices of the general managers, Messrs, R. N. Truman & Ca., 103 Szechuen Road, before an attendance representing 34,381 shares.
In, the course of his speech, the Chairman (Mr. G. Grayrigge) said The planted area of the estate has not been increased during the year and remains 1,383.08 acres, of which 296.40 are in the tapping round, compared with 233.42 last year, The non-producing area is therefore 1,086.68 acres. Mr. Carr, the visiting agent, who returned from leave last November, visited the estate shortly after his retura and I am glad to say, in spite of the greatest economy in every direction, his report was satisfactory.
Owing to the advance in the cost of all food stuffs the labour position has not been as satisfactory as in the past, Another factor has been the demand for labour for completing the railway line to within five miles of the estate.
The output for the year was 87,730 Ib., compared with 42,834 Ib. for last year. The estimate for the current year is 80,500 Ib.
The cost of production for tapping, collecting, transport and manufacturing was 4.34d., but if we apportion superintendence, general charges and upkeep, which expenses, if we tapped or not, would have to be incurred, the F.O.B. cost works out at Rs. 0-8-9.60, or 8.80d., compared with Rs. 0-13-6.60, or 1/1.55d., last year. All of the rubber sold was marketed in Singapore and the nett price realized after paying freight, commission and all other selling charges was 5.98d., 5.cts. 21.36, compared with 1/10.- §.fcts. 80.93, last year. The quality of the manufactured article has not been up to standard; this is due to the lack of adequate factory buildings and plant which the company cannot afford to erect at the present time. The Singapore dollar and rupee for purposes of exchange have been taken at 2/4d. and 1/4d., respectively.
A small profit was derived from the sale of rubber, after deducting the cost of tapping, collecting, manufacturing, packing and forwarding. This profit as in the past has been credited to development There were no questions and the formal resolutions were carried unanimously.
Text read from the printed page and cleaned; old type leaves the occasional error.