To the Editor of the journ-Cmva Datiy News"
Sm—With reference to your report fof the annual meeting held on the Mth inst, I shall be obliged if you will kindly allow me to make a few supplementary remarks, At the annual meeting of this Company held on May 28rd. 1932 T asked whether, when the Wattle rubber companies were put on a sound financial basis, Messrs. Wattie would do all in their power to amalgamate these companies on a fair basis valuation by neutral experts and not dictation of the directors, The Chairman stated that he and the other directors were not averse to amalgamation if the Company would benefit thereby and they were still open to consider any scheme should one be proposed, This was four years ago, At the recent meeting, T'was given no opportunity to put the question to the Chairman whether any amalgamation scheme in connection with this Company or any other company had ever been circulated among shareholders with the exception of the Bukit Toh Along Estates which was bought. by the Rubber Trust, An answer to this question would be welcomed by shareholders, Furthermore, as far as the Repah [Estates are concerned, it seems to me that if the agents and secretaries are junable to provide a dividend for shareholders, with an average selling price of rubber for the year of 6.55d and with a release of about 70 per cent, of standard production, and'no assurance can be given that at pres ent prices shareholders would receive at least 7 to 8 cents per share, then I think that the best thing to would be to make enquiries as to what cash price could be obtained for the property, as it is apparent that the administrative "charges with which it is at present saddled are more than it can economically boar.
T have been making some enquiries and find that it might be possible to find @ buyer at about £50 per sere as a going concern, This would make the shares worth roughly $1.20 each. Personally 1 would prefer to have the money in pocket.
L, Soyka. Shanghai, Apr. 10,
Text read from the printed page and cleaned; old type leaves the occasional error.