The eleventh annual general meet ing of the Kota Bahroe Rubber tates (1921) Ltd, was held on october 13 at the offices of Messrs.
Burkill and Sons at 2 Canton Road, when Mr. A. W. Burkill as chairman, supported by Mr. T. Trueman'and Mx. C. M. Bain, presided over a gathering representing 42,621 shaves. chairman The year under review has been disastrous one for most rubber companies, and the effect of the low ices ruling throughout the year is reflected in the accounts before you. As you will note from the report, the costs on our three properties: show considerable reductions over: the previous year's figures, the most noticeable reductions are' those of jong Rabat and Canning.
ing due to the fact that the estates were let out to a Chinese tapping entracter to tap both estates for 6 cents. per Ib, the price including the rubber. ruction, unfortunately was above the average selling prieg, which re-
'The chairman said:—You will note that we are now lable to introduce sources of rev' Jother than that obtained by the sale lof milk and your directors will endeavour to augment this revenue under a careful and conservative policy.
We hope you will accept the ap-Prapriations us suggested and in con-Inection therewith may I make an Jobservation with reference to. the seattle reserve fund for which we recommend the rather large addition There was no cattle reserve fund Jat the closing of our accounts in June 1928 but from the profits accruing from that year you placed '¥20,000 to the credit of this Fund. Each year since that date certain sums have been similarly. allotted Jand if you agree to the appropriations as now recommended then there will be a' Cattle Reserve Fund Jof ¥120,000 to place against our Jeattle stock valued at 200,338.
Tt may appear that this reserve is too large a sum to place against ithe valuation but may I recall the ultimate object of this cattle reserve fund, which is to create our own fund whereby each animal red individually against Jdeath or discard fom any cause jwhatsoever—a risk that no insurtance company will undertake.
Reverting to our cattle valuation, the responsibility for which devolves upon our managing director 1 think you would like to know how the sum of 200,338 is arrived at. Your cattle stock and its valuation at the date of the closing of the Accounts under review were as 381 Adult productive ani 80 Caves up to of ase, valued sate secon 11965 gri average' of Fai, 65 Young Animals between 1 and 2 years, valued st—ss.. 27,880 an averse of £274.
Text read from the printed page and cleaned; old type leaves the occasional error.