The 28th annual meeting of shareholders of the Namlocze Ven-notéchap Maatschappij. tat fijn-Bosch-en Landbouve-exploitatie in, Langkat was held on June 26:
the officers of the" general: Agents, Messrs. Geo, MeBain, 1 The Bund, Mr, W. R, MeBain took the chair, supported by Mr. A. W, Burkill (diveetor) and shareholders, the total number of shares represented being 69,215. A certain! amount of discussion took place} after the chairman's speech.
Tu opening the meeting, the chairman spoke as follows:
The report and accounts having been in your hands for some time will, with your permission, take! them as read.
From the general balance sheet in the Accounts before you will observe the balance of reserve: against sunday assets of Ts, 91,008.03 has been transferred to profit and loss account, the exception of Tls. 801, and the book! Value of the Assets' written off, with the exception of Tls. 300.
According to our auditors in Sumatea, these assets have an estimated value of approximately 115,000, on at a rate of exchange of A. 75, Tls. 100, Tls. 135,932.00. But owing to uncertainty as—to when thay wilt be sold, and the actnat price they will fetch, the di rectors have decided should be written down in the acthat they!) Jcounts, and when sales are made, they will be credited to profit and loss account.
General profit and loss Account, including the balance of Tls. 21,157.53 brought forward from fast_year, shows a credit balance of Tis, 266,523.63. Included in this Jomount is the sum of Tls. 478,389. 137, which is part of the purchase] price received from the sale of Lepan and Aloer Gadong Concessions, less the total dock value of tassets thereon and connected therewith, amounting to Tls. 89,246.39, jas shown in the General profit and loss account.
'A further sum of approximately Tis, 362,250, taking exchange at f. 125 Tls. 100, will be received on completion of the survey ani transfer Jof title. The profits on this sale ible to the usual Government yin the final transfer of the deeds to the Goodyear Rubber Plantations Company. Although the contract for sale was signed on the October 1, 1080, we are still waiting for the Jcompletion of the Government survey Aloer Gadong Concession, In reply to a telegram addressed to) the Administrator in Sumatra, we, received a letter dated May 6, 1981, informing us that he is ex: editing the matter to the best of his ability. 1 would point out that, according to the contract of sale, the quit rent other expenses: lof the concessions taken ever are} for the account of the Goodyear Company from the date of the signing of the Agreement, that is,
Text read from the printed page and cleaned; old type leaves the occasional error.