I think there is nothing further of interest to tell you respecting the estate, except, perhaps, to mention that all buildings and the factory were well up kept, that cover plants have been introduced into some of the fields and that the cost of living is reported to have come down considerably for all labour. Our estate difficulties are practically overcome and_ there only remains now to await a higher selling price for our commodity to enable our undertaking to become profitable again. Labour shortages and labour surpluses seem recurrent and are points we always have to contend with.
The accounts before you show no outstanding items to comment upon in the way of capital or estate expenditure. Our overdraft figures as Ts. 30,155.95, which has since been somewhat increased. We have still, however, 95,765 ordinary shares and 66,057 12 per cent. cumulative preference shares of TI. 1 each unissued, and I would urge shareholders, especially those who have not subscribed their quota to the new capital, to do so and help to safeguard their present investment. The loss for the period under review amounts to Tls. 16,305.95, which the directors recommend be carried forward. Gentlemen, I hope next time we meet that we shall have a more cheerful report to talk of.
The forma] resolutions were carried.
Text read from the printed page and cleaned; old type leaves the occasional error.