Good Results Despite the Depression The excellent condition of the estates with a sufficient supply of labour for all requirements was mentioned by Mr. A. J. Welch, chairman at the annual general meeting of the Shanghai Malay Rubber Estates, Ltd. which was held on Monday, "Mar. 31, in the head office at 93 Canton Road. Supporting the chairman were Messrs, M. Swann, H. Kadoorie, and L, E Canning, directors, and shares' representing a total of 32,876) shares.
Presenting the annual report, the chairman sai 'The working for the year has resulted in a profit of $30,634.90 s compared with a profit last year of $56, 532.85. This comparatively satisfactory result' was achieved despite the fact) that the harvest was 73,854 Ibs. less than in the previous year.
'All possible economy continues to be exercised but Increased wages since the slump period are reflected' in_most items of expenditure.
'Turning now to planting matters, and dealing with Chengai Estate first, no alteration was made to the planted' area during the year.
Tapping was carried on throughout the year over an area of 695 acres and the standard of tapping continues to be satisfactory. The whole estate is in excellent order and weeding costs are down to a minimum.
Pests and diseases again gave no particular trouble during the year, but root disease continues its slow spread from previously affected patehwhich is the normal experience Ju' all old rubber gardens.
Buildings and machinery were maintained in good condition and no capital expenditure was required. The labour position was much easier and more than ample coolies were available. The rate of wages was raised in April but has not been changed since then. Health condi tions were satisfactory, but ant malarial measures were necessary which accounts for the higher expenditure on health.
As regards Goodheart Estate the immature area of 80 acres planted in 1930 with budded stumps is reported still to be making very satisfactory progress both as regards the foliage! and the girth of the trees. Durin:: the year four acres were cut out and replanted, and although weather: conditions were adverse, the young trees are making good progress.
Tapping was carried on throughout! the year over an area of 506 acres! and the standard of tapping and bark consumption continues to be satis factory.
Text read from the printed page and cleaned; old type leaves the occasional error.