The tenth annual general meeting of the shareholders in the Ayer Tawah Rubber Plantation Ca., Ld., was held on Tussday afternoon in the Shanghai General Chamber of Commerce Room, No, 1 Yuenmingyuen Road, when Mr. L. J. Cubitt presided, supported by Messrs. R. N. Trueman and Thos. Cock, directors, Mr. E. Samson, for the secretaries, Messrs. Geddes & Ca., Ld., and Mr. T, Hunter.
The secretary having read the notice convening the meeting and the auditors' report, the chairman Sail Gentlemen, on September 30 last, the Company completed its 10th year and I think that the report and accounts for the 12 months ended.on that date and issued to shareholders on the 18th instant are sufficient evidenos that their investment has been, and is, sound one, The year under review shows better results by Tls. 12,211.63 than its predecessor in spite of the fact that the exchange rate for remittances averaged 47 tael cents to the Straits dollar against 55 cents, and our stocks and cash aooounts have been converted at 38 against 42}, while the average nett price of rubber sold was only eight cents per th. higher. The increase in the profit is chiefly due to increased output and to the fact that the stock brought forward from the previous year realixed &4,487.94 above the valuation and it must nat be forgotten that while the receipts in taels are less by adverse exchange the expenditure side of the account is also reduced from the same cause.
I think pretty well everything novessary to a full understanding of the position of the Company {is contained under the several headings in the report and I do not propos going over the ground again in the fow remarks I have to make. "The two problems which T dwelt upon last year as being im portant, viz, extensions and Inbour, are, I regret to say, still unsolved. There is really only one problem, however, as, labour, the extensions sent no difficulty. As you note, the increase in the labour forces at the end of the 13 months was only three. Now our visiting agent told us that 150 more coolies were needed if all the work required waa to be done. Recruiting practically came to a standstill for many months, but we are hoping to make some progress in this dircetion this year. We are most anxious, and so is the manager. to plant up the remainder of New-lands, but we agree with the visiting agent that desirable as this is, precedence must be given to the still more important work in the old areas. cultivation. drainage. aeration, thinning out, pruning, ana detection of disease. The amber of trees per acre in the topping areas has been reduced
Text read from the printed page and cleaned; old type leaves the occasional error.