'The annual meeting of the Chemor United Rubber Ca, Ltd., was held on April 8 in the' offices of the secretaries and general managers, Messrs. J. A. Wattle & Ca. Mr. C.F. Shackleton presided and he was supported by Sir Elly Kadoorie, Messr: A. W, Burkill and F. W. Sutterl Sr., (directors) and Mr. A. J. Welch (secretary). There was an attendance representing 53,375 shares.
The chairman sai 'The accounts for the year are very disappointing and show a loss, of 'Tls. 17,044.04, this result being mainly on' account of the selling Price being only half of that for 1929. 'The crop for the year was (63,590 Ibs. Jess. but the voluntary cessation of tapping in May ae? counted for this. Expenditure on the estates showed a considerable reduction, "mainly in the second half' of the year, and it is hoped that this can be still further reduced for the current, year, 'The' capital expenditure consisted Tis, 7,545.53 on the up) Smmature'areas and the plantipe up "eight acres on Chemie Estate with selected material, whilst the clerks" bungalow on, Batu Dua, was rebuilt ata cost of Tis, "904.50. 'The: eagital' expenditure "for, the current, year 15 expected to be less than $2,000, whilst the surplus of liquid assets on December 31, 1990, Jamounted to just over Tls. $1,000. Everything possible is being -done keep outgoings at a minimum, Jand even at present prices of raw frabber the resources will enable the company to carry on for a con-[siderable time. of profits, and obviously many cultiva-Yien works, which would' improve the estates' from an arboricultural point of view, are being postponed Until better times, but I can assure you that no permanent damage is being done, and that the areas are free from that planter's bugbear, lallang, and are being maintained in good condition, Pests and dis-leases gave no trouble, but a eared fal watch was kept, and isolated leases treated immediately, The insidious root disease that is found jon all older plantation, took its toll, but the number of trees affect jed was small and the femaming trees benefit by having more room to expand. The health on both estates was very good and notwithstanding a drastic reduction of Hwages, sufficient labour was obtainable and the coolies appear to be Jeontented with the new conditions.
What the future will bring forth one knows but it appears likely [that unless production is correlated consumption, a lengthy period Jof unprofitable prices must ensure. JAt present the directors of each company must matters from the standpoint of their particular position, and generalizing must go by the board. The price at which it pays to stop tapping and to place the property on a caretaking basis, varies for each company, and consequently with so many companies jin existence, any ce-operation tween them' is very difficult, T had hopes, and I still have to a lesser extent, that the recent discussions between the British and Dutch would meet with success, a8 the resent policy of each for each not the. "survival of the fittest Dut a suicide pact to ascertain which will be the last to go under.
I should like to express thanks to the two managers, visiting a and agents in the Straits for thei }good work on behalf of the. com-
'That the directors' report and statement of accounts for the year fended December 31, 1980, og presented, be adopted! and passed.
That Mr. F. W. Sutterle be re-elected a director of the company.
That the appointment of Sir Elly Kadoorie as a director of the com-Pany be confirmed, That Messrs, Lowe, Bingham Matthews be re-elected auditors of the company.
Text read from the printed page and cleaned; old type leaves the occasional error.