The annual generat meetin of the Tanah. Merah Estates (1916), Lal, took place last Friday at now} at the offices of the secvetavies and! general managers, Messrs, Burkill & Sons, iv, C, Ry Burkill resided and he was supported by Messrs, E. T. Byrne, W. R, MeBain and Chun Bing-him '(diveetors) and Mr, E, A, Prince (secretary), Tiere was attendance representing 293,789 shares, The secretary having veal the notice convening the meeting and the auditors! report, the ehaivnan Although the average selling price of our rubber was Is. 14. tess, our actual sales, due to the considerably larger crop and the higher average rate of exchange through-cut the year realized Tis, 46,753.07 more than the previous year," With the heavy expenditure incurved in harvesting the ineronsed evop, which was sold at less remunerative prices, it was only to be anticipated that the result of the year's wor would not be up. to lust year's standard. It must also be borne in mind that last year's accounts in-eluded expenditure on the recently. acquired Paya Mus Estate for period of eight months only the accounts for the period review includes, for the first expenditure on the ¢ombined arties for the full 32 months, The cost of production, however, shows a deereawe of nearly 1d. per Ib. and, on the whole, I think sharehoters Will agree that the nett result of the working is very satisfactory, With the amount of Tis, 53,261.20 by forward from last year's acedunts, the balance at credit of profit and Joss account, after the payment of an interim dividend of six teel cents per share, absorbing: Tis, 78.000 in January last, amounts to Tls. 302,992.29, At the end of last year the com-panty brought forward unused cou pons to the extent of 140,000 Ib, owing to the 100 per cent, exportable allowance from April to October, 1926, and to a shortage of tappers, this figure was, at the end of the Jast restriction quarter in Ap vil 1927, inevensed by a further 35,000 ib, making a total shortexe of 175,000 Ib. With the exportable al-Jowanee at GO per cent, it is estimated that the arrears will be wiped ff in about five months, With regard to the labour position, Tam pleased (o report that the numbers of Javanese and Indian Inbourers have been considerably increased during the year, thus making it possible to dispense with the more expensive form of Chinese tappers, The health of the force has not been up to standard bat may be accounted for by the fuct that there has been a considerable influx of Inbour who have not become acclimatized to the distviel, A hospital is now in course of erection fon the Tanah Merah division whi will enable coolies to receive carlie troatment than is the ease at pre-went. As you will see from the report, considerable progress has been made in the building programme, a factory, (Wo coolie lines and en a sistaat's bungalow by been erected. Work is nove p the new huspits coolie lines on Paya Maw and flow on Ah See and, who buildings ave completed, the estate will possess an excellent group Duildings which will greatly suedlitate estate supervision, The standard production for the fifth restriction year haa been fixed at 1,191,848 Th, as against 1,261,270 1b, for the previous year, a veduetion of 72427 Ib. At Unis juncture, it is impossible to forecast what will de the exportable allowance dering the next 12 mentha bat, on the basis of 60 per cent, and with the uamised coupons, the "probable pradiaetion during the ewrrent yess will the neighbourliaed "of 990,000 Ib,, which we expect to be able to produce ata price of appre: 81d. per Ib, asto the appropriation of the balance at credit of profit and loss ae-_ count as presented be accepted: Pay final dividend of 15 tael Cents per share. (making 1'per cent. For the year) 195,¢00.00 Place' to 40,000.00
Text read from the printed page and cleaned; old type leaves the occasional error.