Motion to increase Capital Defeated into tapping.
Bark renewal is reported as good, ferred to in the aod general meeting held'on duly of good thickness. man's speech the bark being healthy looking and
The estate has been practically Acres free from disease, a small outbreak of pink disease wi occurred was 416 promptly dealt with and no loss of trees resulted. Buffaloes break-an_ extraordinary. general meeting of the Sungala Rubber tate, Ld held at 40 Kiangse Roail last Friday a resolution by the Doard to increase the company's capital from Tls. 100,000 to Tls. 150,000, was defeated, Dr. Chadwick Kew presided, supported by Mr, Chang Nich-yun, Mr. A. H. Mancell and Mr. R. Phillippo (Directors).
The Chairman said:
Gentlemen,—This meeting is called to discuss and if thought fit to pass a special resolution as fol-Jows:—"That the capital of the company be increased by the issue of 50,000 new shares of Tis, 1 each at a premium of not more than 100 per cent. to all shareholders on the register in the proportion of one new share to two old shares. The date of the issue of such new shar and the rate of premium thereon to be left to the decision of the directors as they in their discretion shall think best in the interests of the Company."
The present area of the estate under cultivation is 416 acres and there is a remaining area to be dealt with of 835. acres. Your Directors consider that the necessary funds for this purpose should be provided by increased capital. The object of asking your authority' for this increase to-day is that the policy of proceeding with the full development of the estate can be definitely decided upon now and the necessary preliminary arrangements gone into. In the event of new capital being authorized your directors do not propose to issue it at an early date, and they do not anticipate that it will be necessary to do so until probably early in the year 1927,
Text read from the printed page and cleaned; old type leaves the occasional error.