Capital expenditure during the current year is estimated to be St, {$11,085 of which $7,000 will be spent on the Teplanting of a further forty eres of old rubber and $3,100 on nev Turning now to estate matters the total area of the estate shows an Sia then that the transaction could be regarded as highly satisfactory, apy and jas your principal shareholder, T may crease of 9 acres, of which Gly acres and the possession of this fleet has damage and losses due to local hostilities of $80,000 has been set up ind debited to profit and. loss Although such damage fand loss cannot be definitely ascer-{tained your board considered—it advisable to appropriate that amount, Which is "considered adequate, " to cover any losses which may fall upon us. say' that the "scheme, which present in draft form, has my ap~ proval, and also the approval of the: other directors,
Text read from the printed page and cleaned; old type leaves the occasional error.