1 trust you will approve of the of, $25,000 og a reserve The cost of the 1937
Your ales and gene a vending' that no. dividend "be. pal ora reget the neces ito
this year, Since early In 1082, Shange hat hax ben maffering from economic fnd_potitieal factors that have ma i"oxtremely dificult for any and Company, particularly one of come paratively Feeent formation, to make prof. It ig inadvisable' to make prophecies regarding the date Which we ahall be able to e¢o ug. shareholders & fait net holdings. We not hope for a. repetition of unheathiy oom" setviies, Out rather val return of confidence in Shih hats desting and an. improvement.
mngha's trade, "Meanwhile, every thing' is being. done to. place. your company ina favourable position 10 {ake advantage of riy and all opport= unites ay they occur, WARK at fur ther reduction in our overheads arxd finance to make proviso profits to meet thix expenditure. 1 {s to. be" hoped that profits for will enable Us to make a covering a full reserve for the 1938 replanting programme and soon in the sequent years until the full replanting has been finished, During the week, after very serious consideration, your directors decided {fo authorize our Straits agents to sell forward for the whole of 1937, that ig up to December, monthly quanity of seven" tons. This) is a Tittle "less than one-third of our present exportable allowance. The prices realized average Straits cents Steal liven stable political conditions feel confident that the company's operations will show continued ime Directors: Since the tat neat meeting, Mr. G.. Marden ut Mr.
ale' hive retired. from the Board but they ave since been te= Eppolnted. Their reappointment. te-afires confirmation at this meeting.
Me. R. Calder Maceiall and Okamoto realize by rotation and cing eigibe, oiler" themselves for Messrs, Thomeon & Come offer themselves for The Resolutions there bei questions, and adopted, ite the Simian teconaed "hyde ak" Hleadoe "Phot the report and accounts for the Ritlicton and"sceonded "by Year! "Proposed by Me, Seconded by. Me.
That the regppo warden _gureetoe of the company Meconded bs" INF, Chairman: Because we had to have 'a board. meeting. Our first meeting was on Tuesday afternoon, My. Soyka: Why did' municate immediately? guarantee if they accepted scheme "A." The only alternative was to accept scheme "B." If the people Vehind the scheme were not really first-class, they Would never be able with an all-in cost of 280d. Hb. considering the Testened "The profit for the year amounted te $eEOOE and with the sum Moposed uy" Mir ied by ar,
Text read from the printed page and cleaned; old type leaves the occasional error.