The loss In the working account on Ranijah Siang Diamond Concessions for the twelve months ended Oclober 31, 1935, amounts to. $238,300.84. In-eluding ' depreciation of "$95,790.39, details of which are given in. the accounts before you, This has been transferred to profit and loss account. This loss was: incurred in making a test on a working scale of the Giamondiferous. gravel in the South Diamond Channel in the concession, located by our chief engineer and field manager, 'The rubber working account shows 8 profit of $49,471.28, after writing off depreciation $16,774.45, which mount has also been' transferred to general profit and loss account, You will note in the balance sheet under review that it has been found unnecessary to draw your attention {o the fact that there is a contingent Viability in connection with a legal action against the company by the executors of the estate of a former manager, as Tam glad to be able to inform you that in this long outstand-{ing legal action, the judgment of the Supreme Court has been decided entirely in our favour, At the annual meeting of the company held in 1994 T informed you that, although the judgment of the Court in the frst action was given in our favour, the plaintiffs has appealed to the Supreme Court, with the result that T have Just stated. 1 wish to take this opportunity of expressing our thanks to the Company's legal adviser, Mr. J, W. Trouw in Medan, Sumated, for the work he has done in bringing this ease to successful conclusion, Turning to our Borneo concessions; 1 wish to refer you to the circular letters to shareholders dated January 4, March 12, and a further circular letter dated April 2, 1936, giving you all the Information your directors have at their disposal regard Ing the company's interests and Activities in S, B. Borneo, added to which a shareholders meeting was convened on April 9, 1930. As Commended by your directors at the meeting on April 9, and approved of by the shareholders present, an advisory committee was formed to consider ways and means of obtaining the necessary finance to carry out the resolution which was passed by the shareholders at the meeting, with re~ gard to forming a separate company for the purpose of developing the company's mining concessions and in~ ferests in 8, E, Borneo namely:
The Rantjah Strang Dlamond Con-the Gold Prospecting Licences, The Colin Coal Concessions. his disposal, of the diamondiferous gravel in our South Channel, as you Wwere informed in the circular of April 2, 1936, Although the values hho actually obtained per cubic metre were considerably higher than the valuation recorded by previous engineers, with continual interruptions caused by shortage of water, and for other reasons which were explained in the circular, he could not, with the equipment' he had, mine the necessary quantities of gravel commensurate with the expenses Incurred.
Mr, Mills is of the opinion that we havea proven asset of considerable valu," and to mine the necessary {Pood profit can be realised Is entirely quantity of gravel In order 2
matier of purchasing further equipment, I will here remind you that has recommended a scheme on. the basis of raising 2000 cub. metres: of overburden and diamond gravel per 24 hours, by the electrification of all the necessary excavating and Gressing plant. He estimates that, if we should carry out his recommenda-tons, on No. 1 Concession alone we have a working life of at least eight years, The shareholders were informed of these particulars in detail in the circular of April 2, Since Mr. Mills returned to Borneo we have received information that by boring hho has located another channel containing in his opinion, rich diamond gravel, He is continuing _these borings and we await further details regarding his operations.
During the year 320239 carats of diamonds, realizing $105,059.88, and 1,494.25 grammes of concentrates of gold and platinum, realising $2,317.17, were produced.
At the last meeting of shareholdfers held on April 9, 1990, I fully informed you of the dificuities that have arisen in the negotiations between the Bataafsche Petroleum Maats-schappij and our company, with regard to the commuting of the all royalties. We have not yet received fa reply to our last communication to the Bataafsche Petroleum Mi).
With regard to our rubber Estate, the total expenditure on the estate during the year, with the exception fof expenditure on clearings, and ten per cent. of the general charges, has been charged to rubber working account. An official survey of the estate made during the year revealed fan Increase in the planted area of acres in the mature area, and 161 "acres in the immature making a, total of 74,2 acres.—23. acres of old mature rubber were cut out, and the area prepared for replanting The acreage of rubber estate the close of the financial year was 4,180.7 acres, and consisted of: eres Rubber Mature aero Fibber tomatare Seta Buildings, sites and toads ion
Land unsuitable for plantings. 2008 nate tare sad roe sp rae
ses Set Ste Pat ra glue cee det a anil ott at ote SLAG mien Spor ed's emt aad Rog gan at a Bid ak ay a irl Pag ate Sroecr stasis 2 pri rake Sab Peetatnty ili Sen The advisory committee, since its formation, has held two meetings. At the last meeting it was decided to make certain recommendations to the shareholders, These recommendations were transmitted to the shareholders a circular dated June 12, 1930, but should any of you gentlemen not have received it, or may wish to peruse again, It is on the table for your Inspection, Bulk ests Made sale ae, ved ad a SE a lat teh ges cle Herel naaee ies Ing of liabilities, and reading "Loans secured by mortgage of part property, Mr, Mills took charge of the Rantjah Sirang Concessions in December, 43024, During the year under review, November 1, 1934 to October S1, 1935, made a bulk test on a working scale, with the machinery he had at Bats ath "of estate in Shanghai, have' destroyed scrap rubber?—We ow
Text read from the printed page and cleaned; old type leaves the occasional error.