'The ninth annual general meetin lof shareholders of the Kali Glidi [Coffee Estates, Ltd., was held at the, offices of the Secretaries and General' managers, Messrs, J. A. Wattle Ca, Lid, 10° Canton " Road, on May 31." Mr. A.J. Welch was in;|the chair, supported by Me Ww Sir Elly' Kadoorie (directors), Mr-RB. MeBain and Elly Hayim and
F, Shackleton (secretary)
warcholders, the total number shares represented being' 20,302.
The chairman spoke as follow:
The Board much regret that the accounts again show a heavy: loss hough itis slightly smaller than the previous year. This has only een possible ty means of the most rigid "reductions in' expenditure funder all headings, as the crops all three prod amaher for the previous year, and the prices realised" were considerably lower, [The coffee crop was very disappoint= ing. amounting t0 5,190. piculs only las compared "vith an estimate of 7-400 piculs and a crop last year of 8/628 Piculs, Furthermore the sales only averaged F-18.04 per plout compared "to F253 "last year. 'These prices are far below a pro: fitable price for coffee, which, Hike all other raw products' is suffering From a large surplus stock due the world's present economic condi The smaller crop of last year mainly attributable to untavour= lable weather at the time of blossont ing but it was accentuated by the avoidable absence of the mee ry pruning and upkeep since funds were not available for" thi Prospects for 1092" are 8 brighter, and_prices show 'a slight endeney to. improve, but without adequate cultivation' the. harvests fare seriously affected, "The el borer. fs stilt and. its' depredat when proper pruning and we not done.
regards tea, a temporary ltactory has been erected and the jerop ig now manufactured on the estate instead of being disposed of fin the form of wet leaf. A consider able amount. of experimental work was: necessary before satisfactory product could be obtained, and the Cost of harvesting and manufacture five no criterion as to what future costs will be. During the year the testate started to pack the toa small-packages anda ood demand been developed " for these at featisfactory prices. The high cost
feounted for by the preliminary.
aching and "forwarding ie acwork entailed, "and should show a large reduction in future, "The quantity of cinchona. told dependent on the quota allowed the quinine combine, but the show a satisfactory. profit 'Very little alteration place in the areas of th fouring the yo acres was pi f|Estate with coffee, the wea was reduced by 17, acres, the course of harvesting, but nurseries for all products of 21 acres fare now available. On' Kali Glidile testate the gardens have suffered from the lack of attention,—which twas unavoidable by. reason of fands Rot being available, 'The strife of the estates have leen reduced to the minimum and drastic cuts have been' made salaries. The wages of coolies have been brought down to. a" bare sustenance, and the amount, now being expended is barely sufficient to maintain the estates, Dut not withstanding this the general condition of the gardens is not altogether unsatisfactory, Cereals and potatoes fare being planted up on all available and "and thie will' help the food situation, 'Turning to the accounts it willie seen that the direct. coffee penditure on the two Mal Estates was. only F.79,580.20 against F-102,537.80 last" year, but' the proceeds from the sale of the product were down from F-109,749.82 F.70,088.80, 40 thet the saving} was more than nullified.
"Gri "the, Ponavrangan estate' tke being in exodus way also to)
Text read from the printed page and cleaned; old type leaves the occasional error.