The annual specting of the Weidaiwel Land & Building Ca, Lud was held on March 15 in 2 Hongkong & Shanghai Bank Building My, A. J; Welch presided, supported by dits E, B, Clarke and Mts, WRAL. Stevens (Directors), and there were Dresent shareholders representing 2646 shares.
"The notice convening the meeting and the. auditors' report "having een read, the chairman said:—"A,' BE. Seddon resigned_his seat on the board on his departure for England a few days ago, and 1 was invited to. take his seat, and alg to act riy chairman.
The report and accounts having been in your hands for. some' days, with your permission I wilt take them fs Yead.
Working account shows Ts more profit than lastyea Almost enrively to the fact that all the bungalows, were occupied. and Fentals "were. Tis 1,00204 higher than the previous year.
'Profle and loss account shows a credit balance of Tis 5404.38, out which {tis proposed. to pay a Gividend of 7 per cent, Ts 140 per shave, absorbing Tls. 5,143.60, and carry' forward the balance of Tis rerything continues to be auf everything ce 0, be safe and peaceful at Weihaiwei and. ave started to Tease our bungalows #5" the coming simone season.
rowing resolutions vera proposed and ere being. no questions the fol-Feoned and seventy fend be prased and that 8 the report and. account "alvidend Share'be Palas Proposed by Me.
woven: percents or Tie. 1a per Welt neconed" bp igh hay Ba Clark be led fest of the company: Proper Wie Weiss King, second. by WRT clinty That Menry Lowe, Bingham and) Matthews be re-elected tion to. the. Company. proposed by Mee J. Clark; seconded he Mr.
RUM, Stevens Bute Plantations (1931) Ltd.
The twentieth annual general meeting oft Bute. Plantations (i931) "Ltd. was held in the off
eral managers, 2. Canton Ron Newt, ARs Pork "Ste, SPitoen on March 17, Mr. A.W: Borlally chairman, was supported Maxim Litie Mesum A, K, "Craddock, directors, and Smith, secretary. Shares represented were 35,070, The chairman lemen—Tho Joss onthe Bars mening amowited fo }497.50 and deducting the amount! of Tis, 832026 brought forward from previous, year, there is a lance at debit of profit and loss account of Tis, 1,171.23 which the Glrectors recommend be carried Forwaril to next year's accounts.
"As u result of the all round econ cniies'and reductions in the, man yor's salary, coolies" waxes, agents, secretarial and directors' fees, the cost of production was brought Gown from 319d. per Ib. the previous year, to 226d. per Ibu but shareholders. ave aware, "there was. no. inmprovemvent in market rices, and. the average obtained from the sale of our crops for the year worked out at 1.56. per Th, During the year under review, the general managers advanced a further Tis, 9,000" to, meet estate expenditure, making a total of loans from them of is. 20,500 at December Sist. 1932," While they are willing to continue to finance the estate for the time being, we con-hot expect them to do so indefinite and unless an improvement in ices takes place in the. near ature, the whole" matter of the financing of the company will have to be seriously considered.
The condition of the estate is generally satisfactory, taking into consideration the fact that expend ture during the year was confined to, only essential work. Much useful work had to be deferred owing Inck of funds on the thinning gut and" removing of unwanted trees "in. the non-producing area. Fifty per cent of the trees on 500 acres planted in 1926/27 ave of tappable size but under present conditions the company. Incks the means, to provide for the necessary buildings, machinery and. tapping utensils to cope with the extra output, Clean "weeding of the mature area has been discontinued, and. the estate is undor'a mixed over of indigenous \frowths, care Seine "taken "thay telang is not allowed to establish itself and that the robe donee andy tater fete With tapping' operations EnSour was ample for state re: quirements and' the position of Tenewal was generally satis factory, for trees of their age, onelusion 1 would ike fo take this' opportunity "of recording "the Board's appreciation of. the' good Work done bythe estate manager Dare maintenance "allowance. "Out Who supervised the property of a
Text read from the printed page and cleaned; old type leaves the occasional error.