London, March 14.
At a meeting of the International Rubber Regulation Committee—today it was recommanded that Siam be allotted the following basic quotes for a period of five years, from 1939 ie 1943: 54,500, 55,300, 55,700, 38,000 and 60,000 tons respectively.
The percentages of the basic quotas were fixed by the International Rubber Regulation Committee, and ill apply to Siam under the condition that the minimum annual export be 41.000 tons guaranteed.
The mini in area of new planting. amounting to 31.000 acres, will be allowed Siam during the five-year period.—Reuter. the affairs of the two Estates during the year under review, After the discussion, the following resolutions were passed:—
That the Directors' Report and Statement of Accounts for the year ended Decumber 31, 1937, as presented. be adopted and passed. Proposed by Mr A. J. Welch, and Seconded by H. Kadoorie.
That a Final Dividend of Six dollar cents per share be paid. making a total of twelve cents per share for the year. Proposed by Mr. A. J, Welch, and Seconded by Mr. H. Kadoorie.
That the appointment of Mr.
Welch as a Director of the Company confirmed. Proposed by Mr. H. Kadoorie, and Seconded by Mr. C. F. Shackleton.
That Mr. B. b. MacDonald be re-elected a Director of the Company Proposed by Mr. Yang Chia Shan, and Seconded by Mr. C. F. Shackleton.
That Messrs. Lowe, Bingham & Ma thews be re-elected Auditors to the Company. Proposed by Mr. W. A. Shan. 4 Welch, and Seconded by Mr. Yang Chia C. J. Meager, C..E. Marden and H. Lacey, (directors) and W. C. D. Bowen, (acting secretary). A total of fourteen shareholders also attended the meeting, representing" 80,883 speech, the chairman said:—
Reference has been made, in the directors' report, circulated with the accounts, to the position and prospects of the company, and there i nothing, I think, which it is necessary to add to the information given.
There is one matter, however, with regard to which the directors wish this opportunity to be taken of making a communication to shareholders. An advertisement will appear in the newspaper to-morrow morning, notifying an extraordinary meeting to be held on April 8, for the purpose of considering, and, if approved, passing a resolution altering the articles of association of the company. The object of this proposed iteration is to give to the directors power to make an offer to the preference shareholders for conversion of their shares and remaining arrears of dividend, plus the equivalent of an 8 per cent. dividend for the year ending December 31, 1938, into ordinary shares,
Text read from the printed page and cleaned; old type leaves the occasional error.