'The first annual general_meeting' of shareholders in the Shanghai Melantan Rubber Estates (1925), Jday in the offices of the secretaries, Mess: s. Hopkins Dunt & Ca. at which Mr. Brodie Clarke presided, [supported by Messrs. P. C. Inglis, J. Prest and H. Kadoorie, directors, and shareholde: s representing 80,040
Ld, was keld on Thursday, at 14 Kiukiang: Road, the offices of Messrs. Seth, Mancell and MeLure, secretaries and general managers. There. were present:—Messrs. A. W. Bur-Will (Chairman), A, MeLire, A. J. Welch (directors), J. A, Turner (vepresenting the secretaries and general managers) and shareholders Fepresenting in all 118,124 shares, 'Phe notice convening the meeting and the auditors' report having been read, the Chairman The company took over the assets and. liabilities of the Shanghai Kelantan Rubber Estates, Ld, (in Niqaidation) as from December 1, 1925, As the latter company had teen in lguldation for over & years ieestata wat not first-class con-Our technical adviser, Mr.
wf, informs us that there is now a marked improvement in the eneral condition' of the estate, In. the circumstances, I think that we A consider the profit shown for the period of Ts, 90,541 to be very satisfactory, An interim dividend of 5 per cent, was paid during the period fand I will later propose the payment of a final dividend of 10 per cent, making 15 per cent, for the that the profit for Tis, 34,68 This added to the!
Jamount brought forward from 1925 vist Tis, 32,116.44, gives a total of Tls. 66,814.21., from which must be Jdeducted the' bonus of Tls. 1.000 ranted to the Manager, Mr. Geo. LIF. Lessler, at the last Annual gen-feral meeting—the final dividend of 10 per cent, for 1925 paid on April 1926—Tls. 20,000, and frst Interim Dividend of 5 per cent. for 1926, and on the November 18, 1926]—Tls. 10,000, totalling Tls. 31,000, leaving 2 balance of Tls. 35,814.21., which your Directors propose to pay a tual dividend of 10 per cent, Tis, 20,000—making 15 per cent. for the your, and a Bonus to Mr, Lessler, the Estate Manager, of Tis, 1,000, leaving a balance to' be car-vied forward of Tis, 14,814
Expenditure:—The increased expenditure for 1926 is principally accounted for by larger payments made under the headings of lines upkeep, weeding, tapping and serapping, export duty and higher rate lof exchange for conversion of Straits Currency into Shanghai Taels. year 'Your directors decided to plant $00 nores during the period and this is expected to be completed by May, 1927, Practically every estate Kelantan opened up new land, but only one estate completed their' programme for 1926, and this was only a small area. Due to the shortage it is not intended to do during the goid be noted as 1,885 acres of reserve jungle. our technical ade viser informs us that this nite good rubber land.
The standard production hax been fixed at 360,000-1b, for the Sth restriction year, The estimated estate production is, however, only 280,000- Jb, but the actual amount that will de harvested depends upon the de-ree of restriction that in enforced.
The rainfall for December, 1926, was 64.93 inches and for the 1926 201,83 inches, which is a record.
Rubber Output:—The output of] rubber for 1926 totalled 122,237 Ib, the average price realized For alli rades being 1/63, You will no doubt have h the serious Moods in the Malay Peninsula and how they affected the various yuhher estates in that region-—Taiping wax no exception, The abnormally heavy rain fall for) ithe Just four months of the year Jdnys registering: a rainfall of 4 iches.
Standard Producti production foy restriction year is fixed at 12 4 th., but an appeal is being sent in to increase this figure to 130,000 Th.
Text read from the printed page and cleaned; old type leaves the occasional error.