Reasons for Forward Sales:
Dividend of Six Per Cent, The nineteenth annual general meeting of the shareholders in the Sua Manggis Rubber Ca, Ltd, was held on April 3 at "the "head office of the company, 35 Peking Road, Shanghai, Mr. 1. J. Cubitt presided and there were present Messrs. A. K. Craddock and G, H. Wright (directors) and D. M. Butt (Cor the secretaries) and other shareholders. the attendance re-resenting shares.
The notice convening the meeting and the auditors' report having been read. the chairman said:—
Gentlemen—When I addressed you at this time last year, the Gover ment's decision to remove restriction credit in profit and loss account for which cash is available in Shang-eaving the stocks of rubber which have since Leen realized free.
Investments stand in the balance sheet at Tis, 2178 less than their market value on December 31 due to the depreciation of municipal si per cent., loans. Since that date, the appreciation that has taken place of Tls. 6—per Tls. 100 reduces this to that the result of the working foe the current year will be more satis" factory.
In this connection it may intereat you to know that the estimated output of rabber for 1929 is 655,000 Th. which should be harvested at an even lower price them that for 1928.
Financially the company is quite a satisfactory position as, if you pass the dividend now recom "The Resolutiors The report for the year which you had before you for some time, gives detailed information regarding ious items in the accounts as well the condition of the estate to which T have nothing to add and 1 will therefore now propose the first resolution That the report and accounts for the year ended December 31, 1928, as presented, be, and are hereby accepted and passed:—Proposed by Mr. L. J. Cubitt, and seconded by: Mr. A. K. Craddock. it will still retain a surplus assets over liabilities of some Tls. 47,500.
Text read from the printed page and cleaned; old type leaves the occasional error.