With regard to the working of the estates, there is very little for me te comment upon, Although the output was only 50,000 Ib. more th all-in cost factory per Ib against tin the the current year, the estimated provide for an output of 1,015,000 Th. at an all-in cost of approximately Sak, per The which Will showw a fair margin of profit even With the seraduat expansion of the area unuler the knife, there was a shortage oF oval tappers, but this matter ig now receiving" the attention of the manager and re reports i luproseement in the n. Daring the rare periodically a adviser, Mr.
Jhingg, wWhuse reports: have ween uniformly: satisfactory and 1 wish to take this opportunity of re. cording the board's appreciation of the good work: do the estate nnagers and stall, and ta the! technical adviser and Straits agents For the good care of our proper theowyehout the sear.
Before putting the resolutions: to the meeting, F shall he pleased to answer tthe beet of my ability any wish to ask, The Resoln Ag there were no questions the following resolutions were putt before the meetin wal passed unanimous Propoved by Mr, E. T. Byrne and seconded ly Mr, de Re Moodie ~That the report and dee ts for the year ended December presented he accepted, Proposed by Mr, E, T. Byrne and seconded by Mr. Hugo Reis That the following: recomnendition to the appropriation of the Ualanee at credit of profit and loss count as presented be accepted: he, Pay a inal dividend of fel cents per shire 100.09 ioetor vehicles "1790.00 eto British Farees Re-ated Centres. Fond Tot Proposed by Mr. 1. Kadoorie, and weeonded by My. GIN. W.
Hummel—That Mr. J. R. Moodie be ye-elected a Director of the company.
Proposed by fr, H. J. Clark and seconded by Mr. Chun Ton Yen Tong.—That Messrs. Lowe, Bing-han, & Matthews be re-elected. tors to the company.
Text read from the printed page and cleaned; old type leaves the occasional error.