The 17th annual general meeting of shareholders of The Dominion Rubber Ca, Ltd, was held at the offices of" the " Secretaries and General Managers, Messrs. A. R. Burkill & Sons, 2 Canton Road, jon March 30," the attendance representing 42,216 shares. Mr. A.
Burkill presided, Mr. H, Martin Little Sutterie.
'The chairman sai Before commencing with the usual business of the meeting, I would like to take this opportunity expressing the directors' sincere Fegret at the death in May last of Mr. E. T. Byrne who acted as chairman of since its formation, The report and accounts having been in your hands for some time, 1 will, with your permission, follow the usual course aod take them as read.
The ranted area of the estates our appl for a further 600 acres of state land neat Hendra Estate, nothing further: has. transpired. "In " view present crisis in the rubber indus: try, the Government is unwilling. to encourage further planting, but as soon as there are signs of recovery, we have no doubt that our application will be favourably considered, and the increase in the has planted a of Hendra Estate will enable it 10 be run on more economical Owing to the company support ing the rubber Growers' Association's scheme to stop tapping in May last, the output from the estates of 087,118 Ib. althouy 498 Th. more than last year, was 152,882 Ib. short of the estimate, and but for this the cost of production would have shown a bigger decrease than 52d." a pound. For the current year, however, with the economies now instituted—and bigger crops expected, the cost of production will show an appreciable reduction. The company, however, under the disability of having tivo estates a considerable distance apart, which necessitated the ployment of two managers, and charges under the head of super-Intendence will always. be higher than companies with compact estates.
The general working of the estates was satisfactory. throughout the year, and the immature farse of 200 acres on Hendra Estate reported to be in good condition, The position ax regards bark renewal on the mature areas on both estates is quite satisfactory,
throughout the year. Mr. H.C.
work har proceeded, smoothly Pinching, our technical adviser, visited the estates periodically ai his reports indicate that the estates ave being efficiently and economically managed, and 1 would like to take this opportunity of expressing the board's appreciation to. the estate managers, visiting agent and Straits agents for their good care fof our properties throughout the of year.
Turning to the accounts, I regret that the result of the year's working showed a loss of Tls. 92,00, this is entirely due to the very: serious drop in the price of rubber during the year. "The" avorag selling price realized from the sale our crops, Was 4120.0 pound as figainst,.16d. x pound the previous year, Every' effort is, being made bythe management "to economise lsherever possible, without jeopar~ fdizing. the efficient, working of the testates, to meet the preterit depression in the industry, and it is {o\be hoped that it will not be too Tong before prices reach a remunerative, level.
That is all T have to say before putting the resolutions to the meet ing, and T shall be pleased to answer the best of my ability any ques share holders may wish to ask, "There being no "questions, the following ""resolutions were" then pot. to. the meeting and passed tnanimously:—"That the report and accounts for the year ender! December 31, 1980, as presented, be accepted. Proposed Me. AR, Burkill; seconded by Mr. H, Martin Little, That the appointment of Mr. Martin Little as a director of the
Text read from the printed page and cleaned; old type leaves the occasional error.