The ninth annual general meeting of shareholders of the Consolidated Rubber Estates (1914), Ld., was held at the offices of the secretaries and general managers (Messrs, A. R. Burkill & Sons), No, 2 Canton Road, at noon on Thursday. Mr. E. T. Byrne presided and was supported by Messrs. A. W. Burkill, J. R. Moodie and G. M. W. Hummel (Directors) and Mr.
A. Prince (Secretary).
The notice convening the meeting and tha auditors' report having been read, the chairman said:
The planted area of the compary's property reinaing the same as the previous year, but 307 acres have been added to the producing area, bringing the total in bearing up restriction which became operative in November last, the estimated crop of 700,000 Ib. wag not realized. The actual crop harvested wag 669,899 lb, which exceeded the previous year's figure by 78,866 Ib.
The working of the estates during the year has continued satisfactorily and costs show considerable improvement over former years. The "all-in" cost of production for the year under review was 6.58d. per Ib. being a reduction of nearly 2d. per Ib. over last year's figure and compares very favourably with results attained on other estates in the country.
PROFIT OF THE YEAR, With the low costs it has been possible to work below the average price of 7.70d. per Ib. realized from the sale of our crop with the result that we are able to show a profit on the year's working of Tls. 53,368.66 which I think you will agree is very satisfactory.
In connexion with the accounts, there ig very little for me to say. With the amount of. Tls. 40,418.48 brought forward from last year's accounts, the amount standing at credit of profit and loss account amounts to Tls. 93,787.14 which the directors recommend be dealt with og follows Pay a dividend of Tls, 0.10 per share 37,500.00 Place to General Reserve Fund 30,000.00
Write off buildings 132.79 vig machinery and 363.08 Write off house furniture 99.00 Pay a bonus to Estate Staffs 2,500.00 Carry forward 23,192:35
Tls. 93,787.14 and I shall later propose a resolution ta this effect. Prospects for the current. year are distinctly favourable. Under the Export of Rubber Restriction Enactment, the estates are at present allowed to export 574,660 Th. per annum. As the amount is regulated by the price of rubber, this figure may be subject to revision. Based on this
Text read from the printed page and cleaned; old type leaves the occasional error.