Liquid Assets of $34,671
"The company will start the New Year with a surplus of liquid assets amounting to, $34,671.21," announced Mr. C. P. Shackleton, chairman, in the course of the annual veneral meeting of Alma Estates, Lid., which was held on December 18 in the otices: of the secretaries. Mr, Shackleton was supported, by Messrs, L. E. Can-hing and H. Kadoorie, directors, and Mr. D. E, Levy, representing J, A. Waitie & Ca, Lid., secretaries; shares present or represented tolatled 14,900, The chairman said:
The accounts now before you dis close a profit of Shai, $81,444.10 compared with " profit for' the preceding year of Shai. $47,115.83, although ihe crop for the year was only 422,000 Ibs,, as compared to 480,700 Ibs. last year. "As against this, the aver age price realized from sales was }659a° whereas last year it was only 5324.
The total expenditure in the Straits shows ttle difference to last year; more was expended on cultivation, bhut duly was considerably Jess, The fixed Shanghai charges were some~ what higher as they include legal expenses and cost of reprinting the Articles of Association. Bonus to state staff was higher on account of larger earnings.
As regards the balance sheet, the only item of expenditure was $23,- 282.21 spent on the replanting of 93 acres and it is proposed to write this off ouf of the profits. Financially, the company is in a very. sallstactory position and if you pass the dividend now recommended, the company will start the New Year with surplus of Tiquid assets amounting to $34,071.31.
Text read from the printed page and cleaned; old type leaves the occasional error.