Shanghai, Apr. 2.
The annual meeting of the Ziangbe Rubber Ca, Lid, was held yesterday at 93 Canton Road, Mr, A.J. Welch presided, supported by Messrs. W. R B, McBain, 4, Kadootie, L. B, Canning, Direciors, and C. F. Shacideton, secretary. Holders of 60,000. shaves wore represented at the meetin The chairman in his speech The accounts of the two Java companies have been combined " in the accounts "as presented to you which, 1 hope, will make them more readily understandable than. would bbe the case if the accounts of these {wo companies were shown separately.
The combined working account shows a profit for the year of £.313,- 060.29 towards which Bandoe Ardjo Estate contributed £230,700.70 and Kuli Minggir Estate 80,322.49 and Pasawahan Estate £2,087.10, Pasawahan Estate was only in tapping for one month and the rubber to cover the balance of its export tdlowance was produced by the other two properties.
Rubber Sales Apart from internal transfers of export licences between the three estates a considerable proportion of the rubber that was produced in excess of the exportable quota was covered by the purchase of export, rights or else the rubber was sold Uunliceneed. These "transactions -resulted in a profit of £22,577.86 which would not have been earned had the companies produced no more rubber th was exportable out of their own Ae After transferring the Agency fee of F.9,000.00 to the Shanghai company, paying the Staff Bonus for 1936 "and providing ¥.51,580.00_for Company Tax the combined Profit and Loss Account shows a profit of 248,413.10 as compared with a profit last, year of ¥.100,141.71.
'This sum added to' the amount brought forward from last year has been dealt with og shown Ju the directors" report, Turning to the Balance Sheet it thew" be will be seen that Capital Expenditure @uring the year amounted (9, a total Pasawahan Estate and F.11,44607 on the clearing preparatory to replanting of 150. aeres on Bandoe' Ardjo Estate and 58 acres on Kali Minggit Estate, F.,952.02 "were spent on building a Mandoer's house, 4. coolie houses, a shop and a market shed on Pasawaban Bitte, A sulphur duster, 8.6 lip. Lister engine and a dynamo were bought for Bandoe Ardjo Estate a cost of F.1,852:38,
Text read from the printed page and cleaned; old type leaves the occasional error.