The eighth annual general meeting of shareholders in the Repah Rubber & Tapioca Estates, Ld. (Incorporated 1913). was held Wednesday at the offices of the secretaries and general managers, Messrs. Hopkins, Dunn & Ca., Ld., No. Avenue Edward VII, M-. Brodie A. Clarke presiding.
In the course of his speech, the Chairman said From the manager's report, you will have seen that the year's crop amounted to 227,390 Ib. of rubber being 12,610 lb. below his estimate. This was caused by abnormal weather conditions, and shortage of labour.
The average price realized was 1/5} per Ib. against 1/94 for the preceding year.
A lot of thinning out has been, and is being done on the estate, and a census of the remaining trees is now being taken.
The additional area of 340 acres planted up during 1917 and 1918 is coming on splendidly, the total cost to date being Ts. 34,762.17 or slightly over Tls. 100 per acre—a capital expenditure which, provided the rubber market recovers, should prove an excellent investment.
Your directors decided at the end of the year to cease tapping—the price of rubber being so low, that the working of the estate, if production were continued, would entail a loss of approximately Straits $6,000 per month, whereas by stopping production entirely, the loss would be about §.$4,200 per month. As no financial assistance is to be obtained from the Banks, Mkssrs. Hopkins, Dunn & Ca, Ld., the secretaries and general managers of the Company, have undertaken to find the necessary funds to keep the estate going for the present-
Unfortunately for the industry there seems to be a regrettable lack of unanimity amongst planters, no definite arrangement having been made for wholesale reduction of output—and I feel sure until something is done in this respect,. the present huge stocks will still be added to, and an increase in price cannot be anticipated. Personally I must admit that I can see no silver lining to the clouds that ut the moment overshadow the industry. At the same time. should business at Home and on the Continent show any signs of returning to the normal, it would no doubt reflect to our benefit.
With regard to the accounts I regret to say that revenue account shows a loss for the year of Fla. 4,444.02.
The balance sheet shows over and above capital, liabilities to the amount of Tls. 62,837.56 and liquid
Text read from the printed page and cleaned; old type leaves the occasional error.