The Annual Meeting of the Shanghai Seremban Rubber Estates Ltd., was held at 93 Canton Road. M
A. J. Welch presided, supported by Messrs H. Kadoorie and M. Speelman, Directors. Holders of 78,900 shares were represented at the meeting.
The chairman in his speech said:—
The result of the year's working has been a profit of Ch.$81,639.85 as compared with a profit for the previous year of Ch.$38,342.89. This increase is mainly due to the facts that the output of Rubber was 38,190 lbs. greater and the price realized for the Rubber was 132 pence per pound higher. The Estate Expenditure on the other hand was St. $3,461.09 larger. The main items which contributed to this increase were tapping, manufacture, forwarding and duty which were affected by the larger output, the increase in the rate of wages and the higher rate of duty charged by Government.
The cost of the upkeep of the producing area however was St.$928.—lower and General Charges were St.8268,—less, The Shanghai Office expenses showed a decrease of Ch.$1,416.52 as the General Managers and Directors agreed to accept a reduction in their fees
Text read from the printed page and cleaned; old type leaves the occasional error.