A slight decrease in expenditure fon rubber production for the year Was reported by the chairman the annual__general_ meeting of the Dominion Rubber Ca,, held at the offices of the Agents, 20 Canton Road, on Friday, Apr. 3. The direc tors present at the meeting were Messrs. W.. Mellor, (chairman), Martin Litile and E. E, Parsons, and the number of shares represented by the attendance was 65,34 'In his speech, the chairman said:—Before proceeding with the usual business of the meeting I would lice take this opportunity of placing fen record the directors' regrets on the death of their colleague Mr. F. W. Sutterle, Sr., which occurred' In April last year. Mr. Sutterle had been on the Board since 1913 and his experience and advice was always of the greatest assistance to his con directors.
the accounts before you, yun will note that expenditure in local dollars on rubber production for 1995 ig slightly lower than in 10994, "The has, however, been'an Increase Fevenue expenditure In the Straits under the heading of "general charges," which amounted in round figures to St.$29,402 us against §21,- G41 for 1034. Of the increase StS 101 has been incurred on very extensive repairs to the estate mane fager's bungalow on Dominion, which Were absolutely necessary, and in view of the recent increase in the price of all raw materials in the Straits, it is just as well this was done early during the past financial year. The balance of the increased expenditure 1s made up by such items fs quit rent and recruiting expenses over which your directors have ne control.
Rubber charges are higher $1,402, this increase being attributable fo duty which has been payable throughout the whole of the your under review, whereas during 1034 it-was only payable for part of the year.
"The profit In local currency for the year's working is $17,054.40 as against $57,302.29, year, Thi reduced "profit is due to the higher cost of production per 1b, owing to the lower output which was 77,000 bs. Jess than 1084, and the lower average selling price realized which was 22d. per' Ib, lower than in 1034, 'The standard" production for 1036 for Dominion and Hendra. hes been provisionally. assessed at 692,330 Ibs, fand assuming 60 per cent. export tible quota during' the present finan:
al year, the estate will only be fable to produce 498000 Ibs. as against total "of Just over 600,000 Ibs. for the year under review.
The sheeting battery on Dominion is out of date and, therefore, costly "upkeep and" running expenses, sand your: directors are now in com munication with the Stralls Agents to the advisability or otherwise fof purchasing more up-to-date machinery.
Ins. H, C. Pinching, our technica adviser, "has. visited the "estates periodically' and his reports have een entirely satisfactory.
There being no questions, the fo!~ lowing resolutions were passed:—"That the Feport and accounts for the year ended December 31, 1003, a8 Dre= ented be vecepied—Proposed. by "My Wr'Mtetlor and seconded uy M.'E. Parsons "That a dividend of seven cents per share. be pald-—Propesed. by. Me. WW. Moler na seconded by Mr, Martin tie.
"That the appointments of Messrs.
of the company. med Proposed e"Poaone, trid. Sale am aeons by'Ae- Chum Bing Sim and seconded by Mia: G. Welch "That Mi. Me Martin Lite be re-elected a "director of the comoany.~Propored by te, WB, 0. Ailddieton and seconded Me. Kay C. cun "mat Messrs. Lowe, Bingham end Mat thaws be. Tecelected site. tothe Company at an annual remuneration of '$00 for "'Shanghai and. the Stealts—Fropored by ite. Chun Bing-him and seconded by Mr. Chun Kee-jack.
Text read from the printed page and cleaned; old type leaves the occasional error.