Annual Meeting Over in Record Time What must constitute a record in the recent history of rubber company meetings took place on Tuesday, April 21, when the 23rd annual general meet~ jing of the Semambu Rubber Estates was completed in considerably less, than five minutes. The chairman's speech was taken as read, and the only. [business was the reading of the notice convening the meeting, and the pass~ ing, without question, of three resolutions. The meeting took place at 93 Canton Road, the directors present being Messrs. A, J. Welch, (chairman), H. Kadoorie and L. E. Canning. In addition to Mr. C. F. Shackleton, (secretary). The shares} represented by the attendance were '604,000.
The chairman said in part:—
The result of the working for the year was a loss of Sh. $2323,02 as compared with a profit of Sh, $17. 681.19. last year.
This loss is mainly due to the fact that the output of rubber was 60,500 1b, smaller with a consequent drop of Sh, $25,706 in the proceeds from sales and also to an increase of St, $1,693, the estate expenditure.
The chief headings under which increases are shown are superintendence, St. $780, due to increases made in the salaries of the manager and the clerk and a larger appropriation to the provident fund, end hospital and medical, St. $2414. this increase being largely accounted fcr by the fact that the late manager was in hospital for some time Lefore he left the company's employment and_his Dill came to somewhat over $600.
Financially the company is not in a very satisfactory position since December 31, 1935. the cash assets and the liquid labilities just about balanced each other, but the position is steadily improving since with rubber at its present price the month-
Company Reports
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