The chief headings under which es in expenditure are shown are superintendence which is higher by St.$1,030.08 due to increases in the salaries of the manager, the clerk and the conductor which in turn entailed an increase in the Company's contribution to the Staff Provident Fund.
General charges are greater by St.$306.85 due to the larger amounts spent on recruiting and the Coronation Celebration whilst the cost of Upkeep of Buildings was St.$44746 and agency Expenses were St.$599.48 lower respectively.
tal and medical expenses were higher by St.$925.01 due to the gefnent of a dresser and to an increase in the labour force.
The upkeep of the gardens cost St.$1,522.66 less in spite of the higher had to be paid. manufacture, packing and yarding were high-
"St.$13,299.09 due entirely to the larger output and the higher wages that had to be paid.
The sum payable for duty was also greater by St.$2.366.75 owing to the higher rate per pound at which it was levied, Financially the Company is in a satisfactory position as on Dec ember 31, 1937 the Liquid Assets exceeded the Cash Liabilities by Ch.$85,835.78 which will be reduced to Ch.$44,525.78 if the recommendations for the disposal of the balance standing to the credit of Profit and Loss Account, which will be proposed later on, are approved of.
Text read from the printed page and cleaned; old type leaves the occasional error.