The accounts of the Shang) company are quite straightforward, and T can sce gothing therein that! equities committ except that I should perhaps explain to you what the heading on the assets side of the balance sheet "general managers' oe] aseount" means.
Hitherto it has been the custom whenever the company had surplus Fonds at its disposal to place a certain proportion on fixed deposit for periods of three, six or nine months, as the case might be, but this system was found to be inconvenient for the reason, amongst others, that it was not sufficiently elastic to permit of the investment of more than a moderate proportion of the surplus funds.
Last October, however, when the surplus funds of the group of companies administered by the general managers began to reach large proportions, they were able to make an arrangement' with our bankers, whereby any surplus fonds were d posited in a special account where they would earn a satisfactory rate of interest and at the same time be available for immediate withdrawal In ease of necessity The Future In previous years I have general endeavoured at this meeting to give ome indication of the possible ud of the rubber market during coming year, but on this occasion reliable figures of the world's consumption are 20 hard to come by and market conditions are so uncertain, that I perfor to say nothing except that the Inrge aceum-_ ulation of surplus stocks having' been absorbed the industry is now 'a sound basis and should production somewhat outstrip consumption ing 1926 as it seems possible the y do, any surplus stocks ea will almost certainly'
Inter years, In the meat company can continue to: ive' a very handsome dividend return on its Capital.
In conclusion, Gentlemen, I would' like to record our thanks to the two: managers and their staffs, to the visiting agent and to the agents Java, to whose efforts the ver satisfactory result' of the year's! working is due.
That concludes my remarks, Gentlemen, but if anybody has any questions to ask, I shall be pleased to answer to the best of my ability' before I formally propose the! adoption of the report and accounts.
Text read from the printed page and cleaned; old type leaves the occasional error.