Shows Satisfactory Results Due}
Increased Output 'Te Annual Meeting of the Al Estates Ltd,, was held on Dec. 16 93 Canton Head. Mr, A. J. Welch presided, supported by Messrs L. E. Caning' and "H. Kadoorie, Directors. Holders of 14,475 shares were repre- 32 sented at the meeting 'The chairman in his speech said:—Tne Report and accounts having been in your hands for several days: I will, with your permission, follow the usual custom and' take ther as} read.
The Accounts now before you dis- the close the very satisfactory profit of Pr Shai $168,901.07 as compared with a Profit last year of S'hai $81,344.16.
This profit, whilst eminently" satisfactory, 15 only equivalent to a return Chang of about 8 per cent. on what it costs to plant and bring into bearing an ere of Rubber.
The chief factors that contributed towards. this pleasing Improvement were an increase Inthe output of Robber of 121,900 Ibs, and an increase in the average net price realized for our product of 2.59 pence per pound.
The Estate expenditure per pound fon Revenue Account was practically the same in both years.
As regards the individual headings in the Working Account:—Superin-Yendence shows an Increase 'SL$615.76 due to the employment this year of a Second Conductor and to an ner ease in the Company's contribu tion to the Staff Provident Fund, General Expenses show an increase of 811,020.89 mainly caused by heavier "expenditure on Recruiting and Assessment. and on the upkeep of Buildings.
Hospital and Medical is higher, by St$458.81 due to the fact that this year 40 patients were admitted to Hospital as against three patients ast! year and also to on increase wages given to the two Line Sweep The cost of upkeeping the gardens was more by St$2,822.07 caused by Increased wages and rather more tensive field work doing done, The increases under the other headings are due to the larger wages pald, the Increased output of Rubber and the higher rate of Duty charged by Government.
'The Shanghai Expenses were almost identical with those Incurred in the previous year, 'Turning to the' Balance Sheet expenditure on replanting amounted to Sthal $97,582.40 for which sum the 93 acres replanted last year wore up kept and a further 96 acres were prepared for replanting this Season. This expenditure It 1s proposed 10. welte off out of Profits, The real Capital expenditure was negligible, It You pass the recommendations now "made by your Directors the Company will start the new year with 9 surplus of Liguid Assets amounting to Sthat $47,208.17, As regards planting matters the 09 acres replanted in 1986 are reported to be making excellent progress and to be at least one year ahead I growth of any previous planting this Estate. This Is attributable to the care that was taken at the time of planting and to the generous ap= plication of fertilizer, 'A further area of 06 acres were cleared for replanting during the year under review and 82 acres of this area were actually planted. up the end of October. Similar methods are being employed as yards fertilizers and It is hoped that the result will be equally satisfactory..
During the coming year It is pro= posed to replant a further 98. acres and the necessary nursery of 20,000 seeds has already been laid down, The standard of tapping has been maintained at its -usuat high standard and the yield per acre per annum for the 1495 acres that were in tapping during the year was S29 Ibs.
The supply of labour was plentiful throughout the year but the rate of wages averaged 43% cents per day against 203 cents per day Inst year.
he general health of the Labour force was satisfactory except for an outbreak" of Chickenpox in" the Spring. In July there was an epide~ mie of smallpox in the neighbourhood of the Estate and the whole Inbour force. were vaccinated as precau~ tionary measure.
Weeding cost cents per acre per month this Year as compared with nine ints lust year. The reason for the increase being the increase In wages und the heavy work of digging out Bracken and other undesirable growths that was undertaken during the year.
Apart from, the' usual amount Root disease neither Pests nor Diseases gave any trouble, The Machinery was overhauled at regular intervals "and" gave catis~ factory service throughout the year.
All buildings were kept in a serviceable state and cement aprons were ald down around the Coolie Lines which made for the greater comfort of the labourers.
In conclusion, Gentlemen, € would like to express our very best thanks to the Manager and to the Manager who acted for him during his absence on Home Leave, to the Visiting Agent and to the Agents in Penang for the jexeellent manner in which they have administered the affairs of the Estate during the year under review.
Following the discussion, the Col-lowing resolutions wore passed: lutment of Mr. A. a be the ensuing year? proposed by Mr.
Iincey Wut and seconded by.
Text read from the printed page and cleaned; old type leaves the occasional error.