Annual Meeting The eleventh annual general meeting of shareholders in the Karan. Rubber Estate Ca., Ld., was held on Monday afternoon at the offices of the general managers, Messrs. A. R. Burkill & Sons, Mr.
R. Burkill presiding In his speech, the chairman The result of the year's working shows a profit of Tls. 14,438.40; this, however, is entirely due to exchange adjustments and interest earned, the rubber production showing a small loss for the year. The output was some 36,000 lb. less than that for the previous year and the overhead charges on this reduced crop, and enhanced costs of estate supplies generally, have resulted in an increase of 23d. in the cost of production. When the heavy drop in the price of rubber took place, the directors decided to hold back sales in the hope of better prices, and at the end of the financial year the stocks amounted to more than half of the annual output, and these stocks were taken into account at a very low figure.
Tue Restricrion ScuEeMe.
The reduction in the annual crop is due to support given to the restriction of output scheme advocated by the Planting Associations, and was effected by resting a portion of the estate. The restriction scheme has unfortunately so far not attained the results hoped for but the resting has been of undoubted benefit to the estate. On the recommendation of the visiting agent and Jocal agents, the directors have decided' to adopt alternate day tapping over the whole estate. The experience recently gained in regard to this goes to show that nearly as much output can eventually be obtained with very much smaller bark consumption, andi on the older planted areas bark conservation is becoming urgently necessary if the future of the trees is to be considered.
The working of the estate during the year under review has continued quite satisfactorily and the visiting agent's reports have been uniformly encouraging. The directors take this opportunity of expressing their appreciation of the ood work done by Mr. Hutchison, the manager and by Mr. Alling-ham, who acted during the former gentleman's absence on leave.
Future Prospects.
As regards the future, prospects are certainly not very bright, and it would appear that it will be some considerable time before prices advance to a reasonably remunerative figure. In the meantime every economy is being exercised and the company is in the fortunate position of having liquid assets amount- a vote of thanks to the Chairman.
Text read from the printed page and cleaned; old type leaves the occasional error.