Some companies have given instructions to their Straits agents to commence tapping full out at once, 80 as to reduce the average cost of production, but, unless a com: pany has very large liquid—resources, il am not convinced that this is a sound thing to do, for the reason that they will be' turing their cash into rubber that will have to be stored until November 1 and, unless they sell forward for delivery after that date, it is possible that there will be so much rubber thrown on the market then that it may be "almost unsaleable for a period.
'We are following the 4 policy of selling sufficient of our export allowance to meet the monthly estate expenditure, which at present prices means all of it, and are producing enough to keep' our taping force employed and thus preent them from being enticed away from the estate. As November 1 draws nearer, we shall increase our output gradually, so as to be in full production by that date. That is, provided that no arrangement is come to with the Dutch East Indies in the meantime, which might render it necessary to change our Turning now to the accounts, you will notice that the profit disclosed by the working account is, Tls. 189,534.15, or slightly less half of that earned last. year The causes: of the diminished profit were a. decrease in the output of 14,000 Ibs., an increase of over 14. per Ib, in the cost of production, and a decrease of over id, per Ib. jin the average price realized for our product. Capital expenditure during the year amounted to Tls. 28,939.11 the bulk of which was spent on buildings or on the keep of the immature area, but A. second extraordinary general meeting of the Greyhound Association of China, Ltd., was held last Friday afternoon in the offices of Messrs. George McBain, 1 The Bund.
Mr. W. R. MeBain presided over the mes The business of the meeting was to confirm a resolution which was. passed at an extraordinary general meeting of the company held at the same place on 26 "that the name of the company be changed to the Greyhound Racing Associa (China), Ltd!
This was carried unanimously.
Text read from the printed page and cleaned; old type leaves the occasional error.