Important Reduction in Cost of Producing The annual meeting of the Paty Oram (Johore) Rubber Estate' Ltd, was held on March 28 in the offices of Messrs, J. A. Wattie Cox, Lid, 10 Canton Read. Mr. A.
Walch, supported by Messrs: Lo Canning, R. N, Swann and Kadoorie (directors) and Mr. Shackleton (secretary), presided over a gathering representing 000" shares, the chairman addressed the meting as follows:
Gentlemen-—The report and ace counts, having been in your hands for the prescribed period, I will, with your permission, take them og read, The profit for the year amounted a discount, Tis, 275,500.00 worth so] te 1 183 a8 compared with, lave to find funds' to pay off the tls. last year. This balance. To do this your board] difference is entirely due to the fall proposes to issue up to 12,000/in the price of rubber during the shares at Tls. 50 each, the offer in year, the average price realized the first piece being made to the ing 8.034. only as compared with present shareholders and -I_ trust 1/5.t8d, last. year. The difference will be responded to in spite of sould jiaxe been considerably more other flotations on this market, but for the crop having increased fully subscribed it only increases ty 79,280 Ib, or 34 per cent, and your capital by six lakhs while the' this to a great extent was the cause assessed value of your land alone: of costs being reduced by no. less is over 12 lakhs so I think you must than 448d, per Ib. General. ex-agree that you have a very value penditure showed a decrease of able undertaking. $7,206.07, mainly on recruiting Gentlemen, the gas industry is ud upkeep of buildings, There tery old one but there are signs of wae also a reduction on the upkeep great revolution taking place, of the estate, whilst duty, which amounted to $7,022.10 in 1927, was very many interesting questions have arisen with regard to low nly $1,193.02 in 1928, temperature carbonization which, In_ addition to "these decreases, state definitely will combat the fog tapping costs were very consider-nuisance, by the production of ably ower, and the exchange dif. new smokeless fuel, and new uses ference, which was Tis, 4,374.25 for tar and its constituents will be Rast year, was only Tis, "442.64 produced from this method of car-during the year under review. On lionization. Mr, Potter is proceed: the other hand in 1927, 284,070 Ib, ing on leave this month and he will of rubber realized or was valued be able to report to us his views at $110,930.48, whilst this year the modernizing our works. I might corresponding value of, 319,800 Ib. here point out that in 1910 the value was only $88,697.27. 'Thanks for a of your plant in the books of the: stock " valuation at company was' Tis, 2,128,045.01.
December 31, 1927 there was a sur while a sum has since been spent: plus "of $19,745.84 or say Tis, of Tis, 2,082,342.39 in providing: 1171, which represents over 87 ions and renewals and with Ts, rer cent, of the year's profit, 2,259,342.25 utilized in writing down Turning now to estate matters, the plant the value today stands the young areas are reported to be at Tis, 1,951,045.16. Thus it will growing well and solve promise for be noted that depreciation has been The plantings of green treated inno niggardly manner plants is being continued and during, the past few years, 1 great Lenefit is expected from Before I conclud 'The mature area has been mention that the fred in ils "eral good cone Greater Shanghai concluding a working agreement whole' estate can he consider vern tie supply of gag from diseases. The remov istrict, but we have been unable s" restric demand for ar to augrce tw the terme suggested. Iaiot ager has been hi the ground there Health was only fairy ae are large tracks of low lying propose th vicinity, on that the report and capital expenditure tel for the year during 4 was THe 1326502 bal before putt the meeting T sha'! question: fon the phe vubbe As regards the tnanctal position company, the Tiquld assets wrt ut the liabilities by Tie or only Th. more Phere tore no questions and the} ham last ere then The sear, capitol expenditure for 1920
That the report and accounts, as presented, be accepted and passed.
upased by Mr. 1. E, Canning, seconded by Mr, A. D, Bell 'That a final dividend for the year ber 31, 1028, be pad holders' at the rate 0!) e—Propesed by Mr. seconded by A.W. we balance at exedit of $17,502 andthe i000 Ti, to be obtained cer cest than Git for 1928, veae the amount the general managers Tis, 40,881.50, but thie from Penang. It, prevent price of tained, this overs completely wiped oat in more months. In view of the to the credit, and loss account, after thy payment of dividend deciared at this mnceting, be apprepristed commended by the directors in the! report for the year 1923—Proposed by Mr, £. E. Canning, seconded Uy Nr. A. D. Ball. cannot be has decides Tit to down count to a round wontd Tike to That Me.
A. W. Burkill be ve- {tes our thanks to the Jcheted director of this compan [agent snd agents in the—Vroposed by Mr. 1. E, Canning, for their good administra. seconded by Mr. A. D. Bell That Messrs. Lowe. Bingham to say, but Matthews be re-elected auditors of {fore Zermally proposing the the: Company for tae enowing peace [2eeetien of the retort and accounts, Proposed by H. Martin reconded by Mr. Ht. J. Clark, The chairman then thanked th shareholders for their presence awd said the dividend warrants would ye posted immediately.
{shall be pleased to answer, to the ist of my ability, any question yon nay wich to ask.
The Resolutions stions being asked, the following recclations, having' for-
Text read from the printed page and cleaned; old type leaves the occasional error.