During the year, the sum of $19, 4899.70 was spent ott replanting the 110, eres of the poorest rubber onthe estate which I'told you in my speech Jast year had been prepared for this purpose. This sum it is proposed shall be written off out of profits. The area has been, planted with special donat seed and the young plants a coming away very well and T hope will urn out, very successfully, In addition a further 23: acres ravines and low lying land, where tubber trees) were' discover reclaimed and it was found the of the trees on these. areas already reached a tappable size.
The factory is in process of being renovated and brought up to date, which should effect a material saving the cost of manufacture during the current year, Financially, the company is in quite satisfactory position Sani exceeded the ash lability by $149,- 1097 the. Liqule assets
400, and since that date further material profits have bean realized, The the follows ti assed following resolutions were _following resolutions were then passed That the dircctors* report and state: itary ak ist ae present spent of scapunts toc"
Sesh Sra Secondea "by" iltectors report an sat: shal seconded 3 a Sab oda Rat Mowers. Lowe, Bingham & Mate mone be reclcced and tore of the anew, be gelled dare ed byre Wong Singstang Mrs Ko bom, ming. {Waar abi seconded byes" WS0'
Text read from the printed page and cleaned; old type leaves the occasional error.